XML 15 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues from continuing operations:        
Service revenues $ 239,057 $ 272,463 $ 714,177 $ 852,100
Product revenues 128,730 155,871 376,824 483,560
Total revenues 367,787 428,334 1,091,001 1,335,660
Costs and expenses from continuing operations:        
Cost of services sold 192,812 224,588 574,137 714,287
Cost of products sold 93,499 112,043 312,131 343,825
Selling, general and administrative expenses 50,249 64,526 150,553 186,891
Research and development expenses 910 1,057 2,748 3,490
Loss on disposal of the Harsco Infrastructure Segment and transaction costs 0 1,000 0 1,000
Other expenses 1,741 17,392 12,111 3,829
Total costs and expenses 339,211 420,606 1,051,680 1,253,322
Operating income from continuing operations 28,576 7,728 39,321 82,338
Interest income 673 264 1,760 951
Interest expense (13,756) (11,110) (39,924) (34,812)
Change in fair value to the unit adjustment liability and loss on dilution and sale of equity method investment (44,788) (2,083) (58,494) (6,492)
Income (loss) from continuing operations before income taxes and equity income (loss) (29,295) (5,201) (57,337) 41,985
Income tax expense (5,079) (6,985) (14,913) (26,945)
Equity in income (loss) of unconsolidated entities, net 3,205 3,105 5,686 (396)
Income (loss) from continuing operations (31,169) (9,081) (66,564) 14,644
Discontinued operations:        
Income (loss) on disposal of discontinued business (592) (637) 1,788 (849)
Income tax benefit (expense) related to discontinued business 217 235 (661) 313
Income (loss) from discontinued operations, net of tax (375) (402) 1,127 (536)
Net income (loss) (31,544) (9,483) (65,437) 14,108
Less: Net (income) loss attributable to noncontrolling interests (1,443) 827 (4,592) (925)
Net income (loss) attributable to Harsco Corporation (32,987) (8,656) (70,029) 13,183
Amounts attributable to Harsco Corporation common stockholders:        
Income (loss) from continuing operations, net of tax (32,612) (8,254) (71,156) 13,719
Income (loss) from discontinued operations, net of tax (375) (402) 1,127 (536)
Net income (loss) attributable to Harsco Corporation $ (32,987) $ (8,656) $ (70,029) $ 13,183
Weighted-average shares of common stock outstanding (in shares) 80,379 80,238 80,318 80,233
Basic earnings (loss) per common share attributable to Harsco Corporation common stockholders:        
Continuing operations (in dollars per share) $ (0.41) $ (0.10) $ (0.89) $ 0.17
Discontinued operations (in dollars per share) 0.00 (0.01) 0.01 (0.01)
Basic earnings (loss) per share attributable to Harsco Corporation common stockholders (in dollars per share) $ (0.41) $ (0.11) $ (0.87) [1] $ 0.16
Diluted weighted-average shares of common stock outstanding (in shares) 80,379 80,238 80,318 80,363
Diluted earnings (loss) per common share attributable to Harsco Corporation common stockholders:        
Continuing operations (in dollars per share) $ (0.41) $ (0.10) $ (0.89) $ 0.17
Discontinued operations (in dollars per share) 0.00 (0.01) 0.01 (0.01)
Diluted earnings (loss) per share attributable to Harsco Corporation common stockholders (in dollars per share) (0.41) (0.11) (0.87) [1] 0.16
Cash dividends declared per common share (in dollars per share) $ 0 $ 0.205 $ 0 $ 0.615
[1] Does not total due to rounding