Recently Adopted and Recently Issued Accounting Standards (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Changes and Error Corrections [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The cumulative effect of the changes made to the Condensed Consolidated Balance Sheet at January 1, 2018 was as follows:

(In thousands)	Balance at December 31, 2017			Impact of Adoption			Balance at January 1, 2018
ASSETS
Current assets:
Trade accounts receivable, net	$	288,034		$	532		$	288,566
Inventories	178,293			(59,793		)	118,500
Current portion of contract assets	—			18,248			18,248
Other current assets	39,332			179			39,511
Total current assets	592,092			(40,834		)	551,258
Contract assets	—			3,566			3,566
Other assets	15,263			1,337			16,600
Total assets	1,578,685			(35,931		)	1,542,754
LIABILITIES
Current liabilities:
Current portion of advances on contracts	117,958			(78,507		)	39,451
Other current liabilities	133,368			13,995			147,363
Total current liabilities	474,128			(64,512		)	409,616
Advances on contracts	—			24,564			24,564
Other liabilities	40,846			1,580			42,426
Total liabilities	1,363,520			(38,368		)	1,325,152
HARSCO CORPORATION STOCKHOLDERS' EQUITY
Accumulated other comprehensive loss	(546,582		)	(1,520		)	(548,102		)
Retained earnings	1,157,801			3,957			1,161,758
Total Harsco Corporation stockholders' equity	170,451			2,437			172,888
Total equity	215,165			2,437			217,602
Total liabilities and equity	1,578,685			(35,931		)	1,542,754

The impact of modifying the Company's Condensed Consolidated Balance Sheet at September 30, 2018 is as follows:

	September 30, 2018
(In thousands)	As Reported		Impact of Adoption			As Reported - Less Impact of Adoption
ASSETS
Current assets:
Trade accounts receivable, net	$	304,165	$	(535	)	$	303,630
Inventories	137,768		91,285			229,053
Current portion of contract assets	27,870		(27,870		)	—
Other current assets	42,068		(157		)	41,911
Total current assets	631,578		62,723			694,301
Contract assets	3,566		(3,566		)	—
Deferred income tax assets	39,824		1,874			41,698
Other assets	21,002		(1,040		)	19,962
Total assets	1,660,417		59,991			1,720,408

	September 30, 2018
(In thousands)	As Reported		Impact of Adoption		As Reported - Less Impact of Adoption
LIABILITIES
Current liabilities:
Current portion of advances on contracts	43,682		83,121		126,803
Other current liabilities	121,887		(8,608	)	113,279
Total current liabilities	431,074		74,513		505,587
Advances on contracts	10,322		(10,322	)	—
Other liabilities	54,273		(216	)	54,057
Total liabilities	1,356,026		63,975		1,420,001
HARSCO CORPORATION STOCKHOLDERS' EQUITY
Accumulated other comprehensive loss	(555,291	)	1,679		(553,612	)
Retained earnings	1,252,840		(5,671	)	1,247,169
Total Harsco Corporation stockholders' equity	261,551		(3,992	)	257,559
Noncontrolling interests	42,840		8		42,848
Total equity	304,391		(3,984	)	300,407
Total liabilities and equity	1,660,417		59,991		1,720,408

The impact of modifying the Company's Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2018 are as follows:

	Three Months Ended
	September 30, 2018
(In thousands, except per share amounts)	As Reported			Impact of Adoption			As Reported - Less Impact of Adoption
Revenues from continuing operations:
Services revenues	$	250,890		$	512		$	251,402
Product revenues	194,585			(15,411		)	179,174
Total revenues	445,475			(14,899		)	430,576
Costs and expenses from continuing operations:
Costs of services sold	194,459			1,273			195,732
Costs of products sold	132,262			(11,979		)	120,283
Selling, general and administrative costs	59,297			66			59,363
Total costs and expenses	388,366			(10,640		)	377,726
Operating income from continuing operations	57,109			(4,259		)	52,850
Interest expense	(9,665		)	550			(9,115		)
Income from continuing operations before income taxes	48,821			(3,709		)	45,112
Income tax (expense) benefit	(13,833		)	932			(12,901		)
Income from continuing operations	34,988			(2,777		)	32,211
Net income	34,651			(2,777		)	31,874
Less: Net income attributable to noncontrolling interests	(1,804		)	(10		)	(1,814		)
Net income attributable to Harsco Corporation	32,847			(2,787		)	30,060
Amounts attributable to Harsco Corporation common stockholders:
Income from continuing operations, net of tax	33,184			(2,787		)	30,397
Net income attributable to Harsco Corporation common stockholders	32,847			(2,787		)	30,060
Basic earnings per share attributable to Harsco Corporation common stockholders:
Continuing operations	0.41			(0.03		)	0.38
Basic earnings per share attributable to Harsco Corporation common stockholders	0.41			(0.03		)	0.37
Diluted earnings per share attributable to Harsco Corporation common stockholders:
Continuing operations	0.40			(0.03		)	0.36
Diluted earnings per share attributable to Harsco Corporation common stockholders	0.39			(0.03		)	0.36

	Nine Months Ended
	September 30, 2018
(In thousands, except per share amounts)	As Reported			Impact of Adoption			As Reported - Less Impact of Adoption
Revenues from continuing operations:
Services revenues	$	763,815		$	4,182		$	767,997
Product revenues	521,670			(34,269		)	487,401
Total revenues	1,285,485			(30,087		)	1,255,398
Costs and expenses from continuing operations:
Costs of services sold	589,738			3,980			593,718
Costs of products sold	367,218			(30,091		)	337,127
Selling, general and administrative costs	175,307			103			175,410
Total costs and expenses	1,138,210			(26,008		)	1,112,202
Operating income from continuing operations	147,275			(4,079		)	143,196
Interest expense	(29,241		)	1,453			(27,788		)
Income from continuing operations before income taxes	121,195			(2,626		)	118,569
Income tax (expense) benefit	(24,043		)	919			(23,124		)
Income from continuing operations	97,152			(1,707		)	95,445
Net income	96,939			(1,707		)	95,232
Less: Net income attributable to noncontrolling interests	(5,795		)	(8		)	(5,803		)
Net income attributable to Harsco Corporation	91,144			(1,715		)	89,429
Amounts attributable to Harsco Corporation common stockholders:
Income from continuing operations, net of tax	91,357			(1,715		)	89,642
Net income attributable to Harsco Corporation common stockholders	91,144			(1,715		)	89,429
Basic earnings per share attributable to Harsco Corporation common stockholders:
Continuing operations	1.13			(0.02		)	1.11
Basic earnings per share attributable to Harsco Corporation common stockholders	1.13			(0.02		)	1.11
Diluted earnings per share attributable to Harsco Corporation common stockholders:
Continuing operations	1.09			(0.02		)	1.07
Diluted earnings per share attributable to Harsco Corporation common stockholders	1.09			(0.02		)	1.07

The impact of modifying the Company's Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2018 is as follows:

	Nine Months Ended
	September 30, 2018
(In thousands)	As Reported			Impact of Adoption			As Reported - Less Impact of Adoption
Cash flows from operating activities:
Net income	$	96,939		$	(1,707	)	$	95,232
Adjustments to reconcile net income to net cash used by operating activities:
Deferred income tax expense (benefit)	1,996			(919		)	1,077
Changes in assets and liabilities:
Accounts receivable	(29,022		)	8			(29,014		)
Inventories	(18,852		)	(34,923		)	(53,775		)
Contract assets	(10,427		)	10,427			—
Advances on contracts	(12,339		)	21,794			9,455
Other assets and liabilities	(14,164		)	5,320			(8,844		)
Net cash used by operating activities	95,014			—			95,014