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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Net sales $ 1,924,534 $ 1,934,951 $ 5,075,247 $ 4,482,555
Cost of products sold 1,451,998 1,441,057 3,832,154 3,380,531
Gross profit 472,536 493,894 1,243,093 1,102,024
Operating expense:        
Selling, general and administrative 328,827 323,194 976,928 858,534
Depreciation 17,731 15,811 52,779 41,640
Amortization 51,724 50,076 155,508 105,339
Total operating expense 398,282 389,081 1,185,215 1,005,513
Income (loss) from operations 74,254 104,813 57,878 96,511
Interest expense, financing costs, and other 38,089 37,348 116,902 99,486
Income (loss) before provision for income taxes 36,165 67,465 (59,024) (2,975)
Provision for (benefit from) income taxes [1] 5,178 18,090 (21,032) (53,291)
Net income (loss) 30,987 49,375 (37,992) 50,316
Dividends on preferred shares [2] 6,000 6,000 18,000 12,000
Net income (loss) attributable to common shareholders $ 24,987 $ 43,375 $ (55,992) $ 38,316
Weighted-average common stock outstanding:        
Basic 68,477,946 68,086,387 68,391,882 67,976,980
Diluted 69,265,384 69,148,143 68,391,882 69,240,040
Net income (loss) per share:        
Basic [3] $ 0.32 $ 0.56 $ (0.82) $ 0.52
Diluted [3] $ 0.32 $ 0.55 $ (0.82) $ 0.51
[1] Three and nine months ended June 30, 2018 amounts include a net tax benefit of $1.2 million and $49.2 million, respectively, resulting from recording the provisional impact of the enactment of the 2017 Tax Cuts and Jobs Act (“TCJA”).
[2] Three months ended June 30, 2019 amount is composed of $5.0 million in undeclared cumulative Preferred Stock dividends, as well as an additional $1.0 million of Preferred Stock dividends that had been declared and paid as of period end. Three months ended June 30, 2018 amount is composed of $6.0 million in undeclared cumulative Preferred Stock dividends. Nine months ended June 30, 2019 amount is composed of $5.0 million in undeclared cumulative Preferred Stock dividends, as well as an additional $13.0 million of Preferred Stock dividends that had been declared and paid as of period end. Nine months ended June 30, 2018 amount is composed of $6.0 million in undeclared cumulative Preferred Stock dividends, as well as an additional $6.0 million of Preferred Stock dividends that had been declared and paid as of period end. See Note 3 for further discussion.
[3] See Note 5 for detailed calculations and further discussion.