Summarized unaudited quarterly financial data for 2022 and 2021 are as follows.


	Three months ended
	March 31			June 30		September 30			December 31
	(In Thousands, Except Per Share Amounts)
2022
Net sales	$	198,981		$	284,803	$	184,273		$	233,654
Gross profit (1)	$	90,730		$	142,924	$	22,129		$	92,584
Net income (1) (2)	$	58,766		$	103,399	$	2,312		$	65,870
Net income attributable to common stockholders	$	58,766		$	103,399	$	2,312		$	65,870

Basic income per common share	$	0.66		$	1.17	$	0.03		$	0.84

Diluted income per common share	$	0.65		$	1.15	$	0.03		$	0.83



2021
Net sales	$	98,116		$	140,696	$	127,199		$	190,228
Gross profit (1)	$	8,060		$	35,008	$	17,447		$	78,464
Net income (loss) (1) (2)	$	(13,279	)	$	23,670	$	(8,928	)	$	42,082
Net income (loss) attributable to common stockholders (A)	$	(23,376	)	$	12,646	$	(251,504	)	$	42,009

Basic income (loss) per common share	$	(0.63	)	$	0.34	$	(6.39	)	$	0.49

Diluted income (loss) per common share	$	(0.63	)	$	0.32	$	(6.39	)	$	0.47

(A)

See Note 1 concerning a deemed dividend associated with an exchange transaction and special dividend, which was consummated during the third quarter of 2021.

LSB Industries, Inc.

Supplementary Financial Data

Quarterly Financial Data (Unaudited)

(1)

The following income (expense) items impacted gross profit (loss) and net income (loss):


	Three months ended
	March 31			June 30			September 30			December 31
	(In Thousands)
Turnaround expense: (A)
2022	$	(2,531	)	$	(3,295	)	$	(19,238	)	$	(4,171	)

2021	$	(140	)	$	(707	)	$	(7,976	)	$	(1,130	)

Gain (loss) on natural gas forward contracts
2021	$	2,706		$	—		$	—		$	—

Compensation expense due to CoC event
2021	$	—		$	—		$	(1,221	)	$	—

(2)

The following income (expense) items impacted net income (loss):


Legal fees associated with Leidos matter
2022	$	(342	)	$	(270	)	$	(302	)	$	(200	)

2021	$	(886	)	$	(441	)	$	(271	)	$	(296	)

Compensation expense due to CoC event
2021	$	—		$	—		$	(3,786	)	$	—

Gain (loss) on extinguishments of debt
2022	$	(113	)	$	—		$	—		$	—

2021	$	—		$	10,000		$	—		$	(20,259	)

Interest expense associated with Global judgment
2022	$	(79	)	$	(79	)	$	(80	)	$	(80	)

2021	$	(78	)	$	(79	)	$	(80	)	$	(80	)

Gain (loss) associated with embedded derivative
2021	$	(436	)	$	(716	)	$	(1,106	)	$	—

Benefit (provision) for income taxes
2022	$	(11,115	)	$	(20,382	)	$	(780	)	$	(6,897	)

2021	$	(42	)	$	248		$	(19	)	$	4,369

(A)

Turnaround expenses do not include the impact on operating results relating to lost absorption or reduced margins due to the associated plants being shut down.