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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Net sales $ 521.1 $ 477.1 $ 1,463.5 $ 1,277.7
Cost of sales 221.2 234.3 608.7 600.7
Gross profit 299.9 242.8 854.8 677.0
Selling, general and administrative expenses 256.1 253.4 796.0 739.1
Acquisition, integration and divestiture costs 0.6 0.9 1.8 4.2
Restructuring charges and other, net 9.0 (0.7) 22.8 44.8
Impairment charges 0.0 0.0 0.0 144.1
Loss (gain) on divested assets 0.1 (1.1) (1.7) (0.5)
Operating income (loss) 34.1 (9.7) 35.9 (254.7)
Other expenses:        
Interest expense, net 63.1 68.7 183.9 178.0
Amortization of debt issuance costs 8.7 7.8 30.7 17.8
Gain (loss) on early extinguishment of debt, net 0.0 (31.2) 0.0 (43.1)
Foreign currency losses (gains), net 9.9 (9.8) 11.5 9.1
Miscellaneous, net 0.1 (2.6) 2.8 13.9
Other expense (income), net 81.8 32.9 228.9 175.7
(Loss) income from operations before income taxes (47.7) (42.6) (193.0) (430.4)
Provision for (benefit from) income taxes 5.4 1.9 23.8 (45.2)
Net (loss) income (53.1) (44.5) (216.8) (385.2)
Other comprehensive income (loss):        
Foreign currency translation adjustments (0.6) 2.2 (6.0) 7.3
Amortization of pension related costs, net of tax [1],[2] 3.5 2.8 10.5 9.3
Other comprehensive income, net 2.9 [3] 5.0 [3] 4.5 16.6
Total comprehensive (loss) income $ (50.2) $ (39.5) $ (212.3) $ (368.6)
Basic (loss) earnings per common share (in dollars per share) $ (0.98) $ (0.83) $ (4.02) $ (7.22)
Diluted (loss) earnings per common share (in dollars per share) $ (0.98) $ (0.83) $ (4.02) $ (7.22)
Weighted average number of common shares outstanding:        
Basic (in shares) 54,025,861 53,476,354 53,899,732 53,371,986
Diluted (in shares) 54,025,861 53,476,354 53,899,732 53,371,986
Revlon Consumer Products Corporation        
Net sales $ 521.1 $ 477.1 $ 1,463.5 $ 1,277.7
Cost of sales 221.2 234.3 608.7 600.7
Gross profit 299.9 242.8 854.8 677.0
Selling, general and administrative expenses 254.5 251.4 791.7 733.2
Acquisition, integration and divestiture costs 0.6 0.9 1.8 4.2
Restructuring charges and other, net 9.0 (0.7) 22.8 44.8
Impairment charges 0.0 0.0 0.0 144.1
Loss (gain) on divested assets 0.1 (1.1) (1.7) (0.5)
Operating income (loss) 35.7 (7.7) 40.2 (248.8)
Other expenses:        
Interest expense, net 63.1 68.7 183.9 178.0
Amortization of debt issuance costs 8.7 7.8 30.7 17.8
Gain (loss) on early extinguishment of debt, net 0.0 (31.2) 0.0 (43.1)
Foreign currency losses (gains), net 9.9 (9.8) 11.5 9.1
Miscellaneous, net 0.1 (2.6) 2.8 13.9
Other expense (income), net 81.8 32.9 228.9 175.7
(Loss) income from operations before income taxes (46.1) (40.6) (188.7) (424.5)
Provision for (benefit from) income taxes 5.5 2.3 23.9 (44.2)
Net (loss) income (51.6) (42.9) (212.6) (380.3)
Other comprehensive income (loss):        
Foreign currency translation adjustments (0.6) 2.2 (6.0) 7.3
Amortization of pension related costs, net of tax [4],[5] 3.5 2.8 10.5 9.3
Other comprehensive income, net 2.9 [6] 5.0 [6] 4.5 16.6
Total comprehensive (loss) income $ (48.7) $ (37.9) $ (208.1) $ (363.7)
[1] Net of tax expense of nil and $0.5 million for the three months ended September 30, 2021 and 2020, respectively, and net of tax benefit of nil and $0.7 million for the nine months ended September 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 nine months ended September 30, 2021 and 2020, respectively.
[4] Net of tax expense of nil and $0.5 million for the three months ended September 30, 2021 and 2020, respectively, and net of tax benefit of nil and $0.7 million for the nine months ended September 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 nine months ended September 30, 2021 and 2020, respectively.