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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Sales $ 988,800 [1] $ 859,200 $ 1,040,200
Cost of sales 716,700 592,800 751,700
Gross profit 272,100 266,400 288,500
Selling, general and administrative expenses 215,100 195,900 200,800
Amortization expense 15,000 11,900 17,300
Asset impairments 0 1,200 253,600
Operating expenses 230,100 209,000 471,700
Operating income (loss) [3] 42,000 [1],[2],[4] 57,400 [5] (183,200) [6]
Other expenses:      
Interest expense, net 19,400 17,300 16,000
Loss on extinguishment of debt 4,900 0 0
Financing costs amortization (1,279) (1,284) (1,290)
Foreign currency loss 2,800 400 1,300
Other expenses, net 28,400 19,000 18,600
Income (loss) before income taxes 13,600 38,400 (201,800)
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Current 13,900 16,300 27,100
Deferred (29,800) (2,600) (24,400)
Income tax (benefit) expense, net (15,900) 13,700 2,700
Net income (loss) 29,500 24,700 (204,500)
Less: Income (loss) attributable to noncontrolling interests, net of taxes 1,500 (3,500) (1,500)
Net income (loss) attributable to Chart Industries, Inc. $ 28,000 $ 28,200 $ (203,000)
Net income (loss) attributable to Chart Industries, Inc. per common share:      
Basic $ 0.91 [7] $ 0.92 [8] $ (6.66)
Diluted $ 0.89 [7],[9] $ 0.91 [8],[10] $ (6.66)
Weighted average number of common shares outstanding:      
Basic 30,740 30,580 30,490
Diluted 31,340 30,990 30,490
Retained Earnings [Member]      
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Net income (loss) attributable to Chart Industries, Inc. $ 28,000 $ 28,200 $ (203,000)
[1] Hudson, included in these results since the acquisition date, September 20, 2017, added net sales and operating income of $58.0 and $6.4 for the year ended December 31, 2017, including $6.1 and $1.2 in the third quarter and $51.9 and $5.2 in the fourth quarter, respectively.
[2] Includes acquisition-related expenses of $10.1 for the year ended December 31, 2017.
[3] Includes restructuring costs of $15.6, $10.9 and $12.2 for the years ended December 31, 2017, 2016 and 2015, respectively
[4] The fourth quarter of 2017 includes additional expense as a result of a litigation award in China. Refer to Note 18, Commitments and Contingencies, for further information.
[5] During the third quarter of 2016, we recovered for breaches of representations and warranties primarily related to warranty costs for certain product lines acquired in the 2012 acquisition of AirSep under the related representation and warranty insurance. For the year ended December 31, 2016, this reduced BioMedical segment’s cost of sales by $15.2 and Corporate SG&A expenses by $0.3, net of associated legal fees recorded in 2016. The 2016 operating income also includes asset impairment charges of $1.2 attributed to D&S.
[6] Includes asset impairment charges of $255.1 for the year ended December 31, 2015, attributed to E&C – $68.8, D&S – $2.0, and BioMedical – $184.3.
[7] Basic and diluted (loss) earnings per share are computed independently for each of the quarters presented. As such, the sum of quarterly basic and diluted (loss) earnings per share may not equal reported annual basic and diluted (loss) earnings per share.
[8] Basic and diluted (loss) earnings per share are computed independently for each of the quarters presented. As such, the sum of quarterly basic and diluted (loss) earnings per share may not equal reported annual basic and diluted (loss) earnings per share.
[9] Zero incremental shares from share-based awards are included in the computation of diluted net loss per share for periods in which a net loss occurs, because to do so would be anti-dilutive.
[10] Zero incremental shares from share-based awards are included in the computation of diluted net loss per share for periods in which a net loss occurs, because to do so would be anti-dilutive.