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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Net sales $ 1,254,222 $ 1,260,656 $ 2,494,378 $ 2,530,038
Cost of goods sold 1,081,016 1,100,000 2,199,996 2,200,000
Gross profit 173,206   294,382  
Operating expenses:        
Warehousing, marketing and administrative expenses 156,574   322,119  
Restructuring charges 8,019   22,080  
Impairment of goodwill       198,828
Operating (loss) income 8,613   (49,817)  
Interest and other expense, net 8,850   17,072  
(Loss) income before income taxes (237) 9,600 (66,889) (183,400)
Income tax (benefit) expense (140) 4,500 (15,352) 100
Net (loss) income $ (97) $ 5,096 $ (51,537) $ (183,498)
Net (loss) income per share - basic: $ 0.00 $ 0.14 $ (1.40) $ (5.01)
Average number of common shares outstanding - basic 36,925 36,673 36,895 36,659
Net (loss) income per share - diluted: [1] $ 0.00 $ 0.14 $ (1.40) $ (5.01)
Average number of common shares outstanding - diluted 36,925 36,873 36,895 36,659
Dividends declared per share $ 0.14   $ 0.28  
Revised [Member]        
Net sales [2]   $ 1,260,656   $ 2,530,038
Cost of goods sold [2]   1,083,092   2,166,807
Gross profit [2]   177,564   363,231
Operating expenses:        
Warehousing, marketing and administrative expenses [2]   160,972   333,270
Impairment of goodwill [2]       198,828
Operating (loss) income [2]   16,592   (168,867)
Interest and other expense, net [2]   7,022   14,485
(Loss) income before income taxes [2]   9,570   (183,352)
Income tax (benefit) expense [2]   4,474   146
Net (loss) income [2]   $ 5,096   $ (183,498)
Net (loss) income per share - basic: [2]   $ 0.14   $ (5.01)
Average number of common shares outstanding - basic [2]   36,673   36,659
Net (loss) income per share - diluted: [2]   $ 0.14   $ (5.01)
Average number of common shares outstanding - diluted [2]   36,873   36,659
Dividends declared per share [2]   $ 0.14   $ 0.28
[1] As a result of the net loss in the three and six months ended June 30, 2018, and the six months ended June 30, 2017, the effect of potentially dilutive securities would have been anti-dilutive and have been omitted from the calculation of diluted earnings per share.
[2] Revised for the impact of the adoption of a new pension accounting pronouncement (see Note 9 – “Pension and Post-Retirement Benefit Plans”) for further detail.