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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue    
Product revenue $ 68,681 $ 54,587
Total revenue 68,681 54,587
Costs and expenses    
Cost of product sales 40,004 34,756
Selling, general and administrative 8,381 11,582
Disposition payment to Manager 0 19
Total Selling, general and administrative 8,381 11,601
Fees to Manager - related party 800 5,552
Depreciation 3,675 3,642
Amortization of intangibles 106 106
Total operating expenses 52,966 55,657
Operating income (loss) 15,715 (1,070)
Other income (expense)    
Interest income 7 3
Interest expense [1] (38) (7,049)
Other income (expense), net 418 (336)
Net income (loss) from continuing operations before income taxes 16,102 (8,452)
(Provision) benefit for income taxes (4,656) 2,182
Net income (loss) from continuing operations 11,446 (6,270)
Discontinued Operations    
Net income from discontinued operations before income taxes [2] 0 27,615
Provision for income taxes [2] 0 (7,548)
Net income from discontinued operations [2] 0 20,067
Net income 11,446 13,797
Net income (loss) from continuing operations 11,446 (6,270)
Less: net income attributable to noncontrolling interests 304 597
Net income (loss) from continuing operations attributable to MIH 11,142 (6,867)
Net income from discontinued operations [2] 0 20,067
Net income from discontinued operations attributable to MIH 0 20,067
Net income attributable to MIH $ 11,142 $ 13,200
Basic income (loss) per unit from continuing operations attributable to MIH (in dollars per shares) $ 0.13 $ (0.08)
Basic income per unit from discontinued operations attributable to MIH (in dollars per share) 0 0.23
Basic income per unit attributable to MIH (in dollars per share) $ 0.13 $ 0.15
Weighted average number of units outstanding: basic (in shares) 88,494,560 87,411,455
Diluted income (loss) per unit from continuing operations attributable to MIH (in dollars per share) $ 0.12 $ (0.08)
Diluted income per unit from discontinued operations attributable to MIH (in dollars per share) 0 0.23
Diluted income per unit attributable to MIH (in dollars per share) $ 0.12 $ 0.15
Weighted average number of units outstanding: diluted (in shares) 89,860,394 87,411,455
[1] Interest expense includes non-cash gains on derivative instruments of $489,000 and $283,000 for the quarters ended March 31, 2022 and 2021, respectively.
[2] See Note 4, “Discontinued Operations and Dispositions”, for further discussions on businesses classified as held for sale.