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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Data

The following tables present select quarterly financial data for 2017 and 2016:

 

Historical

 

2017

 

 

2016

 

(in millions, except per share data)

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

Statements of operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

305.8

 

 

$

394.6

 

 

$

399.4

 

 

$

481.5

 

 

$

427.4

 

 

$

457.7

 

 

$

349.8

 

 

$

378.2

 

Cost of sales

 

 

253.9

 

 

 

318.3

 

 

 

326.9

 

 

 

400.3

 

 

 

347.7

 

 

 

370.4

 

 

 

309.0

 

 

 

332.7

 

Gross profit

 

 

51.9

 

 

 

76.3

 

 

 

72.5

 

 

 

81.2

 

 

 

79.7

 

 

 

87.3

 

 

 

40.8

 

 

 

45.5

 

Operating income (loss)

 

 

(23.7

)

 

 

9.9

 

 

 

7.9

 

 

 

7.0

 

 

 

0.8

 

 

 

3.9

 

 

 

(134.2

)

 

 

(23.8

)

(Loss) income from continuing

   operations before taxes

 

 

(34.5

)

 

 

3.0

 

 

 

(3.4

)

 

 

(4.6

)

 

 

(85.0

)

 

 

(4.3

)

 

 

(144.2

)

 

 

(34.6

)

Provision (benefit) for taxes

   on income

 

 

1.5

 

 

 

2.3

 

 

 

(13.1

)

 

 

(40.2

)

 

 

107.7

 

 

 

0.7

 

 

 

(5.3

)

 

 

(2.6

)

Income (loss) from continuing operations

 

 

(36.0

)

 

 

0.7

 

 

 

9.7

 

 

 

35.6

 

 

 

(192.7

)

 

 

(5.0

)

 

 

(138.9

)

 

 

(32.0

)

(Loss) income from discontinued

   operations, net of income taxes

 

 

—

 

 

 

(0.2

)

 

 

(0.1

)

 

 

(0.3

)

 

 

(3.2

)

 

 

(0.8

)

 

 

(1.8

)

 

 

(1.4

)

Net income (loss)

 

 

(36.0

)

 

 

0.5

 

 

 

9.6

 

 

 

35.3

 

 

 

(195.9

)

 

 

(5.8

)

 

 

(140.7

)

 

 

(33.4

)

Basic (loss) income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income from continuing operations

 

$

(1.04

)

 

$

—

 

 

$

0.28

 

 

$

1.01

 

 

$

(5.64

)

 

$

(0.15

)

 

$

(4.01

)

 

$

(0.92

)

(Loss) income from discontinued

   operations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.01

)

 

 

(0.09

)

 

 

(0.02

)

 

 

(0.05

)

 

 

(0.04

)

(Loss) income per share

 

$

(1.04

)

 

$

—

 

 

$

0.28

 

 

$

1.00

 

 

$

(5.73

)

 

$

(0.17

)

 

$

(4.06

)

 

$

(0.96

)

Diluted (loss) income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income from continuing

   operations

 

$

(1.04

)

 

$

—

 

 

$

0.28

 

 

$

0.98

 

 

$

(5.64

)

 

$

(0.15

)

 

$

(4.01

)

 

$

(0.92

)

(Loss) income from discontinued

   operations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(0.01

)

 

 

(0.09

)

 

 

(0.02

)

 

 

(0.05

)

 

 

(0.04

)

(Loss) income per share

 

$

(1.04

)

 

$

—

 

 

$

0.28

 

 

$

0.97

 

 

$

(5.73

)

 

$

(0.17

)

 

$

(4.06

)

 

$

(0.96

)

Dividends per common share

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Cash flows from operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(36.0

)

 

$

0.5

 

 

$

9.6

 

 

$

35.3

 

 

$

(195.9

)

 

$

(5.8

)

 

$

(140.7

)

 

$

(33.4

)

Deferred income taxes

 

 

—

 

 

 

—

 

 

 

(1.3

)

 

 

(42.8

)

 

 

110.3

 

 

 

1.1

 

 

 

2.6

 

 

 

(12.6

)

Change in inventories, net

 

 

(31.2

)

 

 

(3.4

)

 

 

0.8

 

 

 

89.4

 

 

 

(33.7

)

 

 

(6.2

)

 

 

7.5

 

 

 

85.1