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Revised Financial Statements (Tables)
12 Months Ended
Dec. 31, 2014
Accounting Changes and Error Corrections [Abstract]  
Schedule of Error Corrections and Prior Period Adjustments
The impact of revising the Company’s Condensed Consolidated Balance Sheets, Condensed Statements of Operations and Condensed Consolidated Statements of Cash Flows for all period presented are as follows:
 
 
December 31, 2014
(In thousands)
 
As Previously Reported
 
Revision
 
As Revised
ASSETS
 
 
 
 
 
 
Inventories
 
$
177,265

 
$
1,657

 
$
178,922

Total current assets
 
681,822

 
1,657

 
683,479

Other assets
 
155,551

 
3,769

 
159,320

Total assets
 
2,263,801

 
5,426

 
2,269,227

 
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
 
Other liabilities
 
$
25,849

 
$
11,850

 
$
37,699

Total liabilities
 
1,905,467

 
11,850

 
1,917,317

 
 
 
 
 
 
 
HARSCO CORPORATION STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
Accumulated other comprehensive loss
 
$
(532,491
)
 
$
235

 
$
(532,256
)
Retained earnings
 
1,290,208

 
(6,659
)
 
1,283,549

Total Harsco Corporation stockholders’ equity
 
314,012

 
(6,424
)
 
307,588

Total equity
 
358,334

 
(6,424
)
 
351,910

Total liabilities and equity
 
2,263,801

 
5,426

 
2,269,227


 
 
December 31, 2013
(In thousands)
 
As Previously Reported
 
Revision
 
As Revised
ASSETS
 
 
 
 
 
 
Trade accounts receivable, net
 
$
353,181

 
$
(551
)
 
$
352,630

Other receivables
 
46,470

 
(497
)
 
45,973

Inventories
 
155,689

 
860

 
156,549

Total current assets
 
838,755

 
(188
)
 
838,567

Property, plant and equipment, net
 
711,346

 
(881
)
 
710,465

Other assets
 
108,265

 
5,838

 
114,103

Total assets
 
2,441,748

 
4,769

 
2,446,517

 
 
 
 


 
 
LIABILITIES
 
 
 


 
 
Accounts payable
 
$
181,410

 
$
515

 
$
181,925

Income taxes payable
 
7,199

 
(1,127
)
 
6,072

Other current liabilities
 
129,739

 
2,811

 
132,550

Total current liabilities
 
606,769

 
2,199

 
608,968

Other liabilities
 
42,526

 
11,850

 
54,376

Total liabilities
 
1,834,913

 
14,049

 
1,848,962

 
 
 
 


 
 
HARSCO CORPORATION STOCKHOLDERS’ EQUITY
 
 
 


 
 
Retained earnings
 
$
1,381,321

 
$
(9,280
)
 
$
1,372,041

Total Harsco Corporation stockholders’ equity
 
563,742

 
(9,280
)
 
554,462

Total equity
 
606,835

 
(9,280
)
 
597,555

Total liabilities and equity
 
2,441,748

 
4,769

 
2,446,517



 
 
Year Ended
 
 
 
December 31, 2014
 
(In thousands, except per share amounts)
 
As Previously Reported
 
Revision
 
As Revised
 
Revenues from continuing operations:
 
 
 
 
 
 
 
Service revenues
 
$
1,365,696

 
$
550

 
$
1,366,246

 
Total revenues
 
2,065,738

 
550

 
2,066,288

 
 
 
 
 

 
 
 
Costs and expenses from continuing operations:
 
 
 

 
 
 
Cost of services sold
 
$
1,151,842

 
$
(2,482
)
 
$
1,149,360

 
Cost of products sold
 
494,944

 
(434
)
 
494,510

 
Selling, general and administrative expenses
 
285,252

 
(515
)
 
284,737

 
Research and development expenses
 
6,348

 
(881
)
 
5,467

 
Loss on disposal of the Harsco Infrastructure Segment and transaction costs
 
6,057

 
(954
)
 
5,103

 
Total costs and expenses
 
2,002,267

 
(5,266
)
 
1,997,001

 
 
 
 
 

 
 
 
Operating income from continuing operations
 
$
63,471

 
$
5,816

 
$
69,287

 
Income from continuing operations before income taxes and equity loss
 
8,322

 
5,816

 
14,138

 
Income tax expense
 
(27,171
)
 
(3,195
)
 
(30,366
)
 
Loss from continuing operations
 
(20,407
)
 
2,621

 
(17,786
)
 
Net loss
 
(20,297
)
 
2,621

 
(17,676
)
 
Net loss attributable to Harsco Corporation
 
(24,792
)
 
2,621

 
(22,171
)
 
 
 
 
 
 
 
 
 
Amounts attributable to Harsco Corporation common stockholders:
 
Loss from continuing operations, net of tax
 
$
(24,902
)
 
$
2,621

 
$
(22,281
)
 
Net loss attributable to Harsco Corporation common stockholders
 
(24,792
)
 
2,621

 
(22,171
)
 
 
 
 
 
 
 
 
 
Basic loss per common share attributable to Harsco Corporation common stockholders:
 
Continuing operations
 
$
(0.31
)
 
$
0.03

 
$
(0.28
)
 
Basic loss per share attributable to Harsco Corporation common stockholders
 
(0.31
)
 
0.03

 
(0.27
)
(a)
 
 
 
 
 
 
 
 
Diluted loss per common share attributable to Harsco Corporation common stockholders:
 
Continuing operations
 
$
(0.31
)
 
$
0.03

 
$
(0.28
)
 
Diluted loss per share attributable to Harsco Corporation common stockholders
 
(0.31
)
 
0.03

 
(0.27
)
(a)
(a) Does not total due to rounding.
 
 
Year Ended
 
 
December 31, 2013
(In thousands, except per share amounts)
 
As Previously Reported
 
Revision
 
As Revised
Revenues from continuing operations:
 
 
 
 
 
 
Service revenues
 
$
2,229,966

 
$
(550
)
 
$
2,229,416

Total revenues
 
2,896,520

 
(550
)
 
2,895,970

 
 
 
 
 
 
 
Costs and expenses from continuing operations:
 
 
 
 
 
 
Cost of services sold
 
$
1,766,730

 
$
4,348

 
$
1,771,078

Cost of products sold
 
467,485

 
331

 
467,816

Selling, general and administrative expenses
 
481,052

 
1,065

 
482,117

Research and development expenses
 
9,570

 
596

 
10,166

Loss on disposal of the Harsco Infrastructure Segment and transaction costs
 
291,372

 
954

 
292,326

Total costs and expenses
 
3,031,319

 
7,294

 
3,038,613

 
 
 
 

 
 
Operating loss from continuing operations
 
$
(134,799
)
 
$
(7,844
)
 
$
(142,643
)
Loss from continuing operations before income taxes and equity income
 
(183,332
)
 
(7,844
)
 
(191,176
)
Income tax expense
 
(34,912
)
 
2,937

 
(31,975
)
Loss from continuing operations
 
(216,696
)
 
(4,907
)
 
(221,603
)
Net loss
 
(218,188
)
 
(4,907
)
 
(223,095
)
Net loss attributable to Harsco Corporation
 
(227,941
)
 
(4,907
)
 
(232,848
)
 
 
 
 
 
 
 
Amounts attributable to Harsco Corporation common stockholders:
Loss from continuing operations, net of tax
 
$
(226,449
)
 
$
(4,907
)
 
$
(231,356
)
Net loss attributable to Harsco Corporation common stockholders
 
(227,941
)
 
(4,907
)
 
(232,848
)
 
 
 
 
 
 
 
Basic loss per common share attributable to Harsco Corporation common stockholders:
Continuing operations
 
$
(2.80
)
 
$
(0.06
)
 
$
(2.86
)
Basic loss per share attributable to Harsco Corporation common stockholders
 
(2.82
)
 
(0.06
)
 
(2.88
)
 
 
 
 
 
 
 
Diluted loss per common share attributable to Harsco Corporation common stockholders:
Continuing operations
 
$
(2.80
)
 
$
(0.06
)
 
$
(2.86
)
Diluted loss per share attributable to Harsco Corporation common stockholders
 
(2.82
)
 
(0.06
)
 
(2.88
)

 
 
Year Ended
 
 
December 31, 2012
(In thousands, except per share amounts)
 
As Previously Reported
 
Revision
 
As Revised
Costs and expenses from continuing operations:
 
 
 
 
 
 
Cost of services sold
 
$
1,861,732

 
$
(352
)
 
$
1,861,380

Cost of products sold
 
487,784

 
(1,630
)
 
486,154

Selling, general and administrative expenses
 
503,339

 
(550
)
 
502,789

Research and development expenses
 
9,139

 
285

 
9,424

Other expenses
 
93,776

 
11,016

 
104,792

Total costs and expenses
 
3,220,808

 
8,769

 
3,229,577

 
 
 
 

 
 
Operating loss from continuing operations
 
$
(174,790
)
 
$
(8,769
)
 
$
(183,559
)
Loss from continuing operations before income taxes and equity income
 
(218,495
)
 
(8,769
)
 
(227,264
)
Income tax expense
 
(35,251
)
 
3,573

 
(31,678
)
Loss from continuing operations
 
(253,182
)
 
(5,196
)
 
(258,378
)
Net loss
 
(254,101
)
 
(5,196
)
 
(259,297
)
Net loss attributable to Harsco Corporation
 
(254,612
)
 
(5,196
)
 
(259,808
)
 
 
 
 
 
 
 
Amounts attributable to Harsco Corporation common stockholders:
Loss from continuing operations, net of tax
 
$
(253,693
)
 
$
(5,196
)
 
$
(258,889
)
Net loss attributable to Harsco Corporation common stockholders
 
(254,612
)
 
(5,196
)
 
(259,808
)
 
 
 
 
 
 
 
Basic loss per common share attributable to Harsco Corporation common stockholders:
Continuing operations
 
$
(3.15
)
 
$
(0.06
)
 
$
(3.21
)
Basic loss per share attributable to Harsco Corporation common stockholders
 
(3.16
)
 
(0.06
)
 
(3.22
)
 
 
 
 
 
 
 
Diluted loss per common share attributable to Harsco Corporation common stockholders:
Continuing operations
 
$
(3.15
)
 
$
(0.06
)
 
$
(3.21
)
Diluted loss per share attributable to Harsco Corporation common stockholders
 
(3.16
)
 
(0.06
)
 
(3.22
)

 
 
Year Ended
 
 
December 31, 2014
(In thousands)
 
As Previously Reported
 
Revision
 
As Revised
Net cash provided (used) by:
 
 
 
 
 
 
Operating activities
 
$
225,846

 
$
881

 
$
226,727

Investing activities
 
(228,680
)
 
(881
)
 
(229,561
)

 
 
Year Ended
 
 
December 31, 2013
(In thousands)
 
As Previously Reported
 
Revision
 
As Revised
Net cash provided by:
 
 
 
 
 
 
Operating activities
 
$
188,255

 
$
(596
)
 
$
187,659

Investing activities
 
62,685

 
596

 
63,281


 
 
Year Ended
 
 
December 31, 2012
(In thousands)
 
As Previously Reported
 
Revision
 
As Revised
Net cash provided (used) by:
 
 
 
 
 
 
Operating activities
 
$
198,879

 
$
(285
)
 
$
198,594

Investing activities
 
(219,268
)
 
285

 
(218,983
)