The impact of these adjustments on the individual line items of the Company's financial statements was as follows:

Balance Sheet at December 31, 2014:



	Previously Reported			Adjustments			Revised
	(in thousands)
Stockholders' equity:
Common stock	$	14		$	—		$	14
Additional paid-in capital	267,444			—			267,444
Accumulated other comprehensive income	(18,730		)	3,524			(15,206		)
Retained earnings	190,160			(3,524		)	186,636
Treasury stock, at cost	(81,355		)	—			(81,355		)
Total Steel Excel Inc. stockholders' equity	357,533			—			357,533
Non-controlling interest	(15		)	—			(15		)
Total stockholders' equity	$	357,518		$	—		$	357,518

Statement of Operations for the three months ended March 31, 2014:



	Previously Reported			Adjustments			Revised
	(in thousands, except per-share data)
Income before income taxes and equity method loss	$	3,595		$	—		$	3,595
Benefit from (provision for) income taxes	1,903			(2,098		)	(195		)
Loss from equity method investees, net of taxes	(1,433		)	—			(1,433		)

Net income	4,065			(2,098		)	1,967
Net loss attributable to non-controlling interests in consolidated entities	326			—			326

Net income attributable to Steel Excel Inc.	$	4,391		$	(2,098	)	$	2,293

Basic and diluted income (loss) per share attributable to Steel Excel Inc.:
Net income (loss)	$	0.37		$	(0.18	)	$	0.19

Statement of Comprehensive Income for the three months ended March 31, 2014:



	Previously Reported			Adjustments			Revised
	(in thousands)
Net income (loss)	$	4,065		$	(2,098	)	$	1,967
Other comprehensive income (loss):
Foreign currency translation adjustment	—			—			—
Reclassification to realized gains	—			—			—
Net foreign currency translation adjustment ^(A)	—			—			—

Marketable securities:
Gross unrealized gains on marketable securities, net of tax ^(B)	5,259			2,764			8,023
Reclassification to realized gains, net of tax ^(C)	(1,268		)	(666		)	(1,934		)
Net unrealized gain on marketable securities, net of taxes	3,991			2,098			6,089

Comprehensive income (loss)	8,056			—			8,056
Comprehensive loss attributable to non-controlling interest	326			—			326

Comprehensive income (loss) attributable to Steel Excel Inc.	$	8,382		$	—		$	8,382

(A) No tax effect on cumulative translation adjustments
(B) Tax provision on gross unrealized gains	$	(2,764	)	$	2,764		$	—
(C) Tax benefit on reclassifications to realized gains (losses)	$	666		$	(666	)	$	—

Statement of Cash Flows for the three months ended March 31, 2014:



	Previously Reported			Adjustments			Revised
	(in thousands)
Net income	$	4,065		$	(2,098	)	$	1,967
Deferred income tax provision (benefit)	$	(2,020	)	$	2,098		$	78
Cash provided by operating activities	$	9,858		$	—		$	9,858

The selected quarterly financial data for the years ended December 31, 2014 and 2013, revised to reflect the adjustments to correct the error, is as follows:



	Quarter Ended:
	March 31		June 30		September 30			December 31 ^(A)
	(in thousands, except per-share data)
Year Ended December 31, 2014 ^(B)
Net revenues	$	45,159	$	51,924	$	58,583		$	54,482
Gross profits	$	10,058	$	15,003	$	17,183		$	13,799
Net income (loss) from continuing operations	$	1,967	$	7,657	$	75		$	(33,968	)
Net income (loss)	$	1,967	$	7,657	$	75		$	(33,462	)
Net income (loss) attributable to Steel Excel Inc.	$	2,293	$	7,668	$	(163	)	$	(33,605	)
Net income (loss) from continuing operations attributable to Steel Excel Inc.	$	2,293	$	7,668	$	(163	)	$	(33,832	)
Net income (loss) from continuing operations attributable to Steel Excel Inc. per share of common stock
Basic	$	0.19	$	0.64	$	(0.01	)	$	(2.97	)
Diluted	$	0.19	$	0.64	$	(0.01	)	$	(2.97	)

Year Ended December 31, 2013 ^(C)
Net revenues	$	26,351	$	28,761	$	31,420		$	33,496
Gross profits	$	6,983	$	8,041	$	8,010		$	9,120
Net income from continuing operations	$	1,602	$	732	$	2,383		$	8,150
Net income	$	1,207	$	538	$	1,495		$	4,087
Net income attributable to Steel Excel Inc.	$	1,543	$	723	$	1,806		$	6,599
Net income from continuing operations attributable to Steel Excel Inc.	$	1,622	$	768	$	2,205		$	8,428
Net income from continuing operations attributable to Steel Excel Inc. per share of common stock
Basic	$	0.13	$	0.06	$	0.18		$	0.69
Diluted	$	0.13	$	0.06	$	0.18		$	0.69

(A) Includes goodwill impairments of $36.7 million and a foreign tax benefit of $1.7 million.

(B) Reflects adjustments to correct the provision for income taxes of $2.1 million, $1.1 million, $(1.0) million, and $(2.2) million in the four sequential quarters of 2014, respectively.

(C) Reflects adjustments to the provision for income taxes of $1.8 million, $0.3 million, $0.7 million, and $0.7 million in the four sequential quarters of 2013, respectively.