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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
NET SALES:        
Related parties $ 290,283 $ 513,681 $ 570,660 $ 1,089,410
Third-party customers 36,471 9,810 74,948 21,992
Total net sales 326,754 523,491 645,608 1,111,402
Cost of goods sold 321,172 515,149 643,078 1,008,965
Gross profit 5,582 8,342 2,530 102,437
Selling, general and administrative expenses 9,945 10,012 19,570 21,983
Ravenswood impairment 0 30,850 0 30,850
Other operating expense - net 578 2,601 1,459 4,680
Operating income (loss) (4,941) (35,121) (18,499) 44,924
Interest expense (5,497) (5,573) (10,990) (11,124)
Interest income 171 61 285 203
Net gain on forward and derivative contracts 353 566 706 919
Unrealized gain on fair value of contingent consideration 0 10,287 0 16,814
Other income (expense) - net (299) 93 (305) 1,147
Income (loss) before income taxes and equity in earnings of joint ventures (10,213) (29,687) (28,803) 52,883
Income tax benefit (expense) 319 (5,065) 2,389 (14,366)
Income (loss) before equity in earnings of joint ventures (9,894) (34,752) (26,414) 38,517
Equity in earnings of joint ventures 379 855 736 1,365
Net income (loss) (9,515) (33,897) (25,678) 39,882
Net income (loss) allocated to common stockholders $ (9,515) $ (33,897) $ (25,678) $ 36,628
EARNINGS (LOSS) PER COMMON SHARE:        
Basic (in dollars per share) $ (0.11) $ (0.39) $ (0.29) $ 0.42
Diluted (in dollars per share) $ (0.11) $ (0.39) $ (0.29) $ 0.41
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic (shares) 87,060 86,873 87,050 87,838
Diluted (shares) 87,060 86,873 87,050 88,495