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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Sales $ 1,175,543,000 $ 1,436,270,000 $ 1,263,331,000 [1]
Costs and expenses      
Cost of materials sold (excludes items shown separately below) 942,214,000 1,160,310,000 999,207,000
Warehouse and processing 85,411,000 92,170,000 84,332,000
Administrative and general 64,987,000 72,219,000 68,520,000
Distribution 36,073,000 41,312,000 35,076,000
Selling 21,158,000 24,799,000 24,905,000
Occupancy 9,492,000 10,052,000 9,395,000
Depreciation 18,147,000 19,891,000 21,352,000
Amortization 889,000 889,000 889,000
Goodwill and intangible asset impairment 24,951,000 [2] 23,836,000 [2] 0
Total costs and expenses 1,203,322,000 1,445,478,000 1,243,676,000
Operating income (loss) (27,779,000) [3] (9,208,000) [4] 19,655,000 [1]
Other loss, net (125,000) (126,000) (28,000) [1]
Income (loss) before interest and income taxes (27,904,000) (9,334,000) 19,627,000 [1]
Interest and other expense on debt 5,690,000 6,780,000 6,703,000 [1]
Income (loss) before income taxes (33,594,000) (16,114,000) 12,924,000 [1]
Income tax provision (benefit) (6,817,000) 2,950,000 5,277,000
Net income (loss) (26,777,000) (19,064,000) 7,647,000
Gain (loss) on cash flow hedges (1,816,000) 12,000 231,000
Tax effect of hedges 699,000 $ (125,000) $ (89,000)
Reclassification of loss included in net income, net of tax of $804 for 2015 1,596,000
Total comprehensive income (loss) $ (26,298,000) $ (19,177,000) $ 7,789,000
Basic net income (loss) per share (in dollars per share) $ (2.39) $ (1.71) $ 0.69
Weighted average shares outstanding - basic (in shares) 11,192 11,120 11,065
Diluted net income (loss) per share (in dollars per share) $ (2.39) $ (1.71) $ 0.69
Weighted average shares outstanding - diluted (in shares) 11,192 11,120 11,074
[1] Segment information for 2013 is not available for carbon flat products and specialty metals flat products due to system limitations.
[2] $24,451 of the goodwill and intangible asset impairment in 2015 related to the tubular and pipe products segment, $500 related to the specialty metals flat products segment. The goodwill impairment in 2014 related to the tubular and pipe products segment.
[3] Operating income (loss) includes $3,347 of LIFO income related to the Company's tubular and pipe products segment as well as a $16,451 goodwill impairment charge and a $8,000 intangible asset impairment charge recorded in the second quarter related to the Company's tubular and pipe products segment and a $500 goodwill impairment charge recorded in the fourth quarter related to the specialty metals flat products segment.
[4] Operating income (loss) includes $365 of LIFO expense and a $23,836 goodwill impairment charge related to the Company's tubular and pipe products segment recorded in the fourth quarter of 2014.