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Selected Quarterly Data (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Data
SELECTED QUARTERLY DATA
  
(Unaudited)
(Dollar amounts in thousands except per share amounts.)
  
 
 
 
2019
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter (a)
Net sales
 
$
619,163

 
$
679,130

 
$
704,134

 
$
750,212

Gross profit
 
88,259

 
99,141

 
114,366

 
131,524

Net income attributable to Cooper Tire & Rubber Company
 
6,979

 
8,821

 
29,344

 
51,259

Earnings per share:
 
 
 
 
 
 
 
 
Basic
 
0.14

 
0.18

 
0.58

 
1.02

Diluted
 
0.14

 
0.18

 
0.58

 
1.02

Net sales:
 
 
 
 
 
 
 
 
Americas Tire
 
$
514,936

 
$
582,307

 
$
601,957

 
$
654,526

International Tire
 
143,785

 
138,514

 
132,270

 
119,434

Eliminations
 
(39,558
)
 
(41,691
)
 
(30,093
)
 
(23,748
)
Consolidated net sales
 
$
619,163

 
$
679,130

 
$
704,134

 
$
750,212

Operating profit (loss):
 
 
 
 
 
 
 
 
Americas Tire
 
$
38,789

 
$
46,814

 
$
67,941

 
$
84,209

International Tire
 
(1,339
)
 
(1,296
)
 
(4,831
)
 
(5,924
)
Unallocated corporate charges
 
(10,453
)
 
(13,278
)
 
(11,051
)
 
(15,186
)
Eliminations
 
(566
)
 
(569
)
 
710

 
484

Consolidated operating profit
 
26,431

 
31,671

 
52,769

 
63,583

Interest expense
 
(8,314
)
 
(7,810
)
 
(7,476
)
 
(7,590
)
Interest income
 
3,380

 
1,999

 
1,507

 
2,571

Other pension and postretirement benefit expense
 
(9,362
)
 
(9,288
)
 
(9,562
)
 
(13,355
)
Other non-operating income (expense)
 
1,380

 
(1,463
)
 
(509
)
 
(892
)
Income before income taxes
 
$
13,515

 
$
15,109

 
$
36,729

 
$
44,317

Net income
 
$
7,178

 
$
9,258

 
$
29,008

 
$
52,871

Net income attributable to Cooper Tire & Rubber Company
 
$
6,979

 
$
8,821

 
$
29,344

 
$
51,259

Basic and diluted earnings per share are computed independently for each quarter presented. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.
Each quarter's financial data is recorded here as disclosed in its respective 10-Q report. Therefore, the sum of quarterly information here may not equal the annual financial statement amounts due to rounding.
(a)
In the fourth quarter, the Company recorded an income tax benefit of $18,606 as a result of a business realignment strategy implemented in Europe.



















 
  
(Unaudited)
 
 
2018
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter (a)
Net sales
 
$
601,496

 
$
698,408

 
$
737,671

 
$
770,487

Gross profit
 
84,485

 
94,223

 
139,947

 
124,638

Net income (loss) attributable to Cooper Tire & Rubber Company
 
8,285

 
15,008

 
53,713

 
(419
)
Earnings per share:
 
 
 
 
 
 
 
 
Basic
 
0.16

 
0.30

 
1.07

 
(0.01
)
Diluted
 
0.16

 
0.30

 
1.07

 
(0.01
)
Net sales:
 
 
 
 
 
 
 
 
Americas Tire
 
$
485,392

 
$
584,412

 
$
628,704

 
$
664,138

International Tire
 
161,244

 
167,839

 
162,401

 
149,492

Eliminations
 
(45,140
)
 
(53,843
)
 
(53,434
)
 
(43,143
)
Consolidated net sales
 
$
601,496

 
$
698,408

 
$
737,671

 
$
770,487

Operating profit (loss):
 
 
 
 
 
 
 
 
Americas Tire
 
$
31,236

 
$
40,480

 
$
87,353

 
$
70,432

International Tire
 
7,434

 
5,652

 
5,994

 
(33,124
)
Unallocated corporate charges (b)
 
(11,966
)
 
(13,705
)
 
(12,518
)
 
(13,376
)
Eliminations
 
(250
)
 
336

 
372

 
894

Consolidated operating profit
 
26,454

 
32,763

 
81,201

 
24,826

Interest expense
 
(7,691
)
 
(8,417
)
 
(7,930
)
 
(8,142
)
Interest income
 
2,315

 
1,988

 
2,399

 
3,514

Other pension and postretirement benefit expense (b)
 
(6,986
)
 
(6,967
)
 
(6,932
)
 
(6,921
)
Other non-operating (loss) income
 
(1,658
)
 
(1,391
)
 
2,922

 
(1,288
)
Income before income taxes
 
$
12,434

 
$
17,976

 
$
71,660

 
$
11,989

Net income
 
$
8,983

 
$
15,709

 
$
55,433

 
$
439

Net income (loss) attributable to Cooper Tire & Rubber Company
 
$
8,285

 
$
15,008

 
$
53,713

 
$
(419
)
Basic and diluted earnings (loss) per share are computed independently for each quarter presented. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.
Each quarter's financial data is recorded here as disclosed in its respective 10-Q report. Therefore, the sum of quarterly information here may not equal the annual financial statement amounts due to rounding.
(a)
In the fourth quarter, the Company recorded a non-cash goodwill impairment charge of $33,827. Refer to Note 5 - Goodwill and Intangibles for further details.