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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Net sales $ 570.2 $ 606.8 $ 1,123.4 $ 1,167.5
Cost of sales 243.9 259.6 481.7 502.2
Gross profit 326.3 347.2 641.7 665.3
Selling, general and administrative expenses 332.5 374.6 665.1 746.3
Acquisition and integration costs 0.0 4.6 0.6 8.6
Restructuring charges and other, net 3.2 5.9 8.7 10.0
Loss on disposal of minority investment 0.0 20.1 0.0 20.1
Operating (loss) income (9.4) (58.0) (32.7) (119.7)
Other expenses:        
Interest expense 47.8 42.8 95.5 82.7
Amortization of debt issuance costs 3.5 3.0 6.7 5.3
Foreign currency losses, net 1.2 20.2 1.4 9.6
Miscellaneous, net 4.6 0.2 5.9 0.2
Other expense (income), net 57.1 66.2 109.5 97.8
Loss from continuing operations before income taxes (66.5) (124.2) (142.2) (217.5)
(Benefit from) provision for income taxes (1.2) (2.8) (1.1) (4.4)
(Loss) income from continuing operations, net of taxes (65.3) (121.4) (141.1) (213.1)
Income (loss) from discontinued operations, net of taxes 1.6 (1.1) 2.3 0.3
Net (loss) income (63.7) (122.5) (138.8) (212.8)
Other comprehensive income (loss):        
Foreign currency translation adjustments 2.6 (4.9) 1.3 (7.4)
Amortization of pension related costs, net of tax [1],[2] 2.7 2.1 4.9 4.2
Reclassification into earnings of accumulated losses from the de-designated 2013 Interest Rate Swap, net of tax [3] 0.0 0.1 0.0 0.7
Other comprehensive income (loss), net 5.3 [4] (2.7) [4] 6.2 (2.5)
Total comprehensive loss $ (58.4) $ (125.2) $ (132.6) $ (215.3)
Basic (loss) earnings per common share:        
Continuing operations (usd per share) $ (1.23) $ (2.30) $ (2.66) $ (4.04)
Discontinued operations (usd per share) 0.03 (0.02) 0.04 0.01
Net loss (usd per share) (1.20) (2.32) (2.62) (4.03)
Diluted (loss) earnings per common share:        
Continuing operations (usd per share) (1.23) (2.30) (2.66) (4.04)
Discontinued operations (usd per share) 0.03 (0.02) 0.04 0.01
Net loss (usd per share) $ (1.20) $ (2.32) $ (2.62) $ (4.03)
Weighted average number of common shares outstanding:        
Basic (in shares) 53,126,700 52,823,326 53,020,633 52,748,913
Diluted (in shares) 53,126,700 52,823,326 53,020,633 52,748,913
Revlon Consumer Products Corporation        
Net sales $ 570.2 $ 606.8 $ 1,123.4 $ 1,167.5
Cost of sales 243.9 259.6 481.7 502.2
Gross profit 326.3 347.2 641.7 665.3
Selling, general and administrative expenses 331.0 372.9 661.8 743.0
Acquisition and integration costs 0.0 4.6 0.6 8.6
Restructuring charges and other, net 3.2 5.9 8.7 10.0
Loss on disposal of minority investment 0.0 20.1 0.0 20.1
Operating (loss) income (7.9) (56.3) (29.4) (116.4)
Other expenses:        
Interest expense 47.8 42.8 95.5 82.7
Amortization of debt issuance costs 3.5 3.0 6.7 5.3
Foreign currency losses, net 1.2 20.2 1.4 9.6
Miscellaneous, net 4.6 0.2 5.9 0.2
Other expense (income), net 57.1 66.2 109.5 97.8
Loss from continuing operations before income taxes (65.0) (122.5) (138.9) (214.2)
(Benefit from) provision for income taxes (0.9) (2.5) (0.6) (3.8)
(Loss) income from continuing operations, net of taxes (64.1) (120.0) (138.3) (210.4)
Income (loss) from discontinued operations, net of taxes 1.6 (1.1) 2.3 0.3
Net (loss) income (62.5) (121.1) (136.0) (210.1)
Other comprehensive income (loss):        
Foreign currency translation adjustments 2.6 (4.9) 1.3 (7.4)
Amortization of pension related costs, net of tax [5],[6] 2.7 2.1 4.9 4.2
Reclassification into earnings of accumulated losses from the de-designated 2013 Interest Rate Swap, net of tax [7] 0.0 0.1 0.0 0.7
Other comprehensive income (loss), net 5.3 (2.7) 6.2 (2.5)
Total comprehensive loss $ (57.2) $ (123.8) $ (129.8) $ (212.6)
[1] Net of tax expense of $0.3 million and $0.2 million for the three months ended June 30, 2019 and 2018, respectively, and net of tax expense of $0.6 million and $0.5 million for the six months ended June 30, 2019 and 2018, respectively.
[2] This amount is included in the computation of net periodic benefit costs (income). See Note 11, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit costs (income).
[3] Net of tax benefit of $0.3 million for the three months ended June 30, 2018 and $0.5 million for the six months ended June 30, 2018.
[4] See Note 14, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the three and six months ended June 30, 2019 and 2018, respectively.
[5] Net of tax expense of $0.3 million and $0.2 million for the three months ended June 30, 2019 and 2018, respectively, and net of tax expense of $0.6 million and $0.5 million for the six months ended June 30, 2019 and 2018, respectively.
[6] This amount is included in the computation of net periodic benefit costs (income). See Note 11, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit costs (income).
[7] Net of tax benefit of $0.3 million for the three months ended June 30, 2018 and $0.5 million for the six months ended June 30, 2018.