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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Net sales $ 497.4 $ 347.6 $ 942.4 $ 800.6
Cost of sales 196.3 168.6 387.5 366.4
Gross profit 301.1 179.0 554.9 434.2
Selling, general and administrative expenses 279.4 196.3 539.9 485.7
Acquisition, integration and divestiture costs 0.6 1.2 1.2 3.3
Restructuring charges and other, net 8.4 20.7 13.8 45.5
Impairment charges 0.0 19.8 0.0 144.1
(Gain) loss on divested assets (1.8) (0.2) (1.8) 0.6
Operating income (loss) 14.5 (58.8) 1.8 (245.0)
Other expenses:        
Interest expense, net 61.9 60.9 120.8 109.3
Amortization of debt issuance costs 13.3 6.0 22.0 10.0
Gain on early extinguishment of debt 0.0 (11.9) 0.0 (11.9)
Foreign currency (gains) losses, net (1.7) 2.3 1.6 18.9
Miscellaneous, net 1.5 20.6 2.7 16.5
Other expense (income), net 75.0 77.9 147.1 142.8
(Loss) income from operations before income taxes (60.5) (136.7) (145.3) (387.8)
Provision for (benefit from) income taxes 7.2 (9.9) 18.4 (47.1)
Net (loss) income (67.7) (126.8) (163.7) (340.7)
Other comprehensive income (loss):        
Foreign currency translation adjustments (0.5) 10.3 (5.4) 5.1
Amortization of pension related costs, net of tax [1],[2] 3.5 4.0 7.0 6.5
Other comprehensive loss, net 3.0 [3] 14.3 [3] 1.6 11.6
Total comprehensive (loss) income $ (64.7) $ (112.5) $ (162.1) $ (329.1)
Basic (loss) earnings per common share (in dollars per share) $ (1.25) $ (2.37) $ (3.04) $ (6.39)
Diluted (loss) earnings per common share (in dollars per share) $ (1.25) $ (2.37) $ (3.04) $ (6.39)
Weighted average number of common shares outstanding:        
Basic (in shares) 54,015,794 53,471,004 53,835,622 53,319,228
Diluted (in shares) 54,015,794 53,471,004 53,835,622 53,319,228
Revlon Consumer Products Corporation        
Net sales $ 497.4 $ 347.6 $ 942.4 $ 800.6
Cost of sales 196.3 168.6 387.5 366.4
Gross profit 301.1 179.0 554.9 434.2
Selling, general and administrative expenses 277.7 194.4 537.2 481.8
Acquisition, integration and divestiture costs 0.6 1.2 1.2 3.3
Restructuring charges and other, net 8.4 20.7 13.8 45.5
Impairment charges 0.0 19.8 0.0 144.1
(Gain) loss on divested assets (1.8) (0.2) (1.8) 0.6
Operating income (loss) 16.2 (56.9) 4.5 (241.1)
Other expenses:        
Interest expense, net 61.9 60.9 120.8 109.3
Amortization of debt issuance costs 13.3 6.0 22.0 10.0
Gain on early extinguishment of debt 0.0 (11.9) 0.0 (11.9)
Foreign currency (gains) losses, net (1.7) 2.3 1.6 18.9
Miscellaneous, net 1.5 20.6 2.7 16.5
Other expense (income), net 75.0 77.9 147.1 142.8
(Loss) income from operations before income taxes (58.8) (134.8) (142.6) (383.9)
Provision for (benefit from) income taxes 7.3 (9.6) 18.4 (46.5)
Net (loss) income (66.1) (125.2) (161.0) (337.4)
Other comprehensive income (loss):        
Foreign currency translation adjustments (0.5) 10.3 (5.4) 5.1
Amortization of pension related costs, net of tax [4],[5] 3.5 4.0 7.0 6.5
Other comprehensive loss, net 3.0 [6] 14.3 [6] 1.6 11.6
Total comprehensive (loss) income $ (63.1) $ (110.9) $ (159.4) $ (325.8)
[1] Net of tax benefit of nil and $1.5 million for the three months ended June 30, 2021 and 2020, respectively, and net of tax benefit of nil and $1.2 million for the six months ended June 30, 2021 and 2020, 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, 2021 and 2020, respectively.
[4] Net of tax benefit of nil and $1.5 million for the three months ended June 30, 2021 and 2020, respectively, and net of tax benefit of nil and $1.2 million for the six months ended June 30, 2021 and 2020, 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 six months ended June 30, 2021 and 2020, respectively.