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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales $ 347.6 $ 570.2 $ 800.6 $ 1,123.4
Cost of sales 168.6 243.9 366.4 481.7
Gross profit 179.0 326.3 434.2 641.7
Selling, general and administrative expenses 196.3 332.5 485.7 665.1
Acquisition, integration and divestiture costs 1.2 0.0 3.3 0.6
Restructuring charges and other, net 20.7 3.2 45.5 8.7
Impairment charges 19.8 0.0 144.1 0.0
(Gain) loss on divested assets (0.2) 0.0 0.6 0.0
Operating (loss) income (58.8) (9.4) (245.0) (32.7)
Other expenses:        
Interest expense, net 60.9 47.8 109.3 95.5
Amortization of debt issuance costs 6.0 3.5 10.0 6.7
(Gain) loss on early extinguishment of debt, net (11.9) 0.0 (11.9) 0.0
Foreign currency losses, net 2.3 1.2 18.9 1.4
Miscellaneous, net 20.6 4.6 16.5 5.9
Other expense (income), net 77.9 57.1 142.8 109.5
Loss from continuing operations before income taxes (136.7) (66.5) (387.8) (142.2)
(Benefit from) provision for income taxes (9.9) (1.2) (47.1) (1.1)
(Loss) income from continuing operations, net of taxes (126.8) (65.3) (340.7) (141.1)
(Loss) income from discontinued operations, net of taxes 0.0 1.6 0.0 2.3
Net (loss) income (126.8) (63.7) (340.7) (138.8)
Other comprehensive (loss) income:        
Foreign currency translation adjustments 10.3 2.6 5.1 1.3
Amortization of pension related costs, net of tax [1],[2] 4.0 2.7 6.5 4.9
Other comprehensive (loss) gain 14.3 [3] 5.3 [3] 11.6 6.2
Total comprehensive loss $ (112.5) $ (58.4) $ (329.1) $ (132.6)
Basic and Diluted (loss) earnings per common share:        
Continuing operations (in dollars per share) $ (2.37) $ (1.23) $ (6.39) $ (2.66)
Discontinued operations (in dollars per share) 0 0.03 0 0.04
Net loss (in dollars per share) $ (2.37) $ (1.20) $ (6.39) $ (2.62)
Weighted average number of common shares outstanding:        
Basic (in shares) 53,471,004 53,126,700 53,319,228 53,020,633
Diluted (in shares) 53,471,004 53,126,700 53,319,228 53,020,633
Revlon Consumer Products Corporation        
Net sales $ 347.6 $ 570.2 $ 800.6 $ 1,123.4
Cost of sales 168.6 243.9 366.4 481.7
Gross profit 179.0 326.3 434.2 641.7
Selling, general and administrative expenses 194.4 331.0 481.8 661.8
Acquisition, integration and divestiture costs 1.2 0.0 3.3 0.6
Restructuring charges and other, net 20.7 3.2 45.5 8.7
Impairment charges 19.8 0.0 144.1 0.0
(Gain) loss on divested assets (0.2) 0.0 0.6 0.0
Operating (loss) income (56.9) (7.9) (241.1) (29.4)
Other expenses:        
Interest expense, net 60.9 47.8 109.3 95.5
Amortization of debt issuance costs 6.0 3.5 10.0 6.7
(Gain) loss on early extinguishment of debt, net (11.9) 0.0 (11.9) 0.0
Foreign currency losses, net 2.3 1.2 18.9 1.4
Miscellaneous, net 20.6 4.6 16.5 5.9
Other expense (income), net 77.9 57.1 142.8 109.5
Loss from continuing operations before income taxes (134.8) (65.0) (383.9) (138.9)
(Benefit from) provision for income taxes (9.6) (0.9) (46.5) (0.6)
(Loss) income from continuing operations, net of taxes (125.2) (64.1) (337.4) (138.3)
(Loss) income from discontinued operations, net of taxes 0.0 1.6 0.0 2.3
Net (loss) income (125.2) (62.5) (337.4) (136.0)
Other comprehensive (loss) income:        
Foreign currency translation adjustments 10.3 2.6 5.1 1.3
Amortization of pension related costs, net of tax [4],[5] 4.0 2.7 6.5 4.9
Other comprehensive (loss) gain 14.3 [6] 5.3 [6] 11.6 6.2
Total comprehensive loss $ (110.9) $ (57.2) $ (325.8) $ (129.8)
[1] Net of a $1.5 million tax benefit and $0.3 million of tax expense for the three months ended June 30, 2020 and 2019, respectively, and net of a $1.2 million tax benefit and $0.6 million of tax expense for the six months ended June 30, 2020 and 2019, respectively.
[2] This amount is included in the computation of net periodic benefit costs (income). See Note 10, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit costs (income).
[3] See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the six months ended June 30, 2020 and 2019, respectively.
[4] Net of a $1.5 million tax benefit and $0.3 million of tax expense for the three months ended June 30, 2020 and 2019, respectively, and net of a $1.2 million tax benefit and $0.6 million of tax expense for the six months ended June 30, 2020 and 2019, respectively.
[5] This amount is included in the computation of net periodic benefit costs (income). See Note 10, "Pension and Post-Retirement Benefits," for additional information regarding net periodic benefit costs (income).
[6] See Note 13, "Accumulated Other Comprehensive Loss," regarding the changes in the accumulated balances for each component of other comprehensive loss during the three months ended June 30, 2020 and 2019, respectively.