Schedule of Correction of Misstatements and Revision on Consolidated Statements | The following tables present the effect of the correction of the misstatements and the revision on the Consolidated Statements of Operations and Comprehensive Income (Loss), as further described in Note 1. Also, as further described in Note 2, due to the disposition of PBC and the related discontinued operations treatment, the tables below present separately the impact of the correction of the misstatements as well as the effect of recasting the prior periods for the PBC discontinued operations. Year Ended December 31, 2016 As Originally Adjustment Discontinued As Revised Cost of sales (exclusive of depreciation and amortization) $ 621,022 $ 815 $ (192,994 ) $ 428,843 Selling, general and administrative expense 80,266 870 (16,992 ) 64,144 Depreciation and amortization 62,488 85 (11,852 ) 50,721 Other operating expense (income) 288 548 (27 ) 809 Income from operations 59,400 (2,318 ) (22,303 ) 34,779 Loss on extinguishment of debt and write-off of unamortized debt issuance costs 3,089 (500 ) — 2,589 Other (income) expense, net (2,591 ) (783 ) 503 (2,871 ) Income (loss) from continuing operations before (7,309 ) (1,035 ) (22,522 ) (30,866 ) Provision (benefit) for income taxes (9,313 ) 244 (6,369 ) (15,438 ) Income (loss) from continuing operations 7,942 (1,279 ) (16,153 ) (9,490 ) Net income (loss) $ 7,942 $ (1,279 ) $ 6,663 Other comprehensive income (loss): Change in fair value of interest rate swap 3,015 (1,105 ) 1,910 Foreign currency translation loss (8,984 ) (1,639 ) (10,623 ) Other comprehensive loss (5,969 ) (2,744 ) (8,713 ) Comprehensive income (loss) $ 1,973 $ (4,023 ) $ (2,050 ) Basic net income (loss) per share $ 0.29 $ (0.05 ) $ 0.25 Diluted net income (loss) per share $ 0.29 $ (0.05 ) $ 0.25 Year Ended December 31, 2015 As Originally Adjustment Discontinued As Revised Selling, general and administrative expense $ 51,745 $ 596 $ (17,468 ) $ 34,873 Depreciation and amortization 44,482 (13 ) (11,496 ) 32,973 Other operating expense (income) (687 ) 663 — (24 ) Income (loss) from operations 26,797 (1,246 ) (25,493 ) 58 Loss on extinguishment of debt and write-off of unamortized debt issuance costs 18,673 500 — 19,173 Income (loss) from continuing operations before (22,950 ) (1,746 ) (24,522 ) (49,218 ) Provision (benefit) for income taxes (10,518 ) (2,691 ) (6,633 ) (19,842 ) Income (loss) from continuing operations (7,431 ) 945 (17,889 ) (24,375 ) Net income (loss) $ (7,431 ) $ 945 $ (6,486 ) Other comprehensive income (loss): Change in fair value of interest rate swap (2,584 ) 947 (1,637 ) Foreign currency translation loss (21,936 ) (2,967 ) (24,903 ) Other comprehensive loss (24,520 ) (2,020 ) (26,540 ) Comprehensive income (loss) $ (31,951 ) $ (1,075 ) $ (33,026 ) Basic net income (loss) per share $ (0.35 ) $ 0.04 $ (0.31 ) Diluted net income (loss) per share $ (0.35 ) $ 0.04 $ (0.31 ) The following table presents the effect of the correction of the misstatements on the Consolidated Balance Sheet as well as the effect of recasting the prior periods for the PBC discontinued operations. As of December 31, 2016 As Originally Adjustment Discontinued As Revised Income tax receivable $ — $ 1,041 $ 700 $ 1,741 Other current assets 11,752 32 (4,755 ) 7,029 Total current assets 280,555 1,073 700 282,328 Property, plant and equipment, net 322,953 (487 ) (92,373 ) 230,093 Goodwill 450,311 2,127 (8,909 ) 443,529 Investment in joint venture 40,694 (4,686 ) — 36,008 Other non-current 9,892 (839 ) (940 ) 8,113 Total assets 1,360,386 (2,812 ) 700 1,358,274 Accounts payable 75,719 (15 ) (31,014 ) 44,690 Accrued salaries, wages and benefits 24,996 1,464 (9,234 ) 17,226 Income tax payable 2,125 — (2,125 ) — Other current liabilities 23,025 (524 ) (2,176 ) 20,325 Total current liabilities 138,616 925 700 140,241 Deferred tax liabilities 99,591 600 (4,173 ) 96,018 Other non-current 21,267 1,471 (8,438 ) 14,300 Total liabilities 1,045,187 2,996 700 1,048,883 Retained earnings 55,509 (334 ) 55,175 Accumulated other comprehensive loss (25,122 ) (5,474 ) (30,596 ) Total stockholders’ equity 315,199 (5,808 ) 309,391 Total liabilities and stockholders’ equity 1,360,386 (2,812 ) 700 1,358,274 The following tables present the effect of the correction of the misstatements on our Consolidated Statements of Changes in Stockholders’ Equity. As of and for the Year Ended December 31, 2016 As Previously Adjustment As Revised Net income (loss) $ 7,942 $ (1,279 ) $ 6,663 Retained earnings 55,509 (334 ) 55,175 Change in fair value of interest rate swap 3,015 (1,105 ) 1,910 Share-based compensation expense 4,270 (335 ) 3,935 Foreign currency translation loss (8,984 ) (1,639 ) (10,623 ) Accumulated other comprehensive loss (25,122 ) (5,474 ) (30,596 ) Total stockholders’ equity 315,199 (5,808 ) 309,391 As of and for the Year Ended December 31, 2015 As Previously Adjustment As Revised Net income (loss) $ (7,431 ) $ 945 $ (6,486 ) Retained earnings 55,151 945 56,096 Change in fair value of interest rate swap (2,584 ) 947 (1,637 ) Share-based compensation expense 3,704 335 4,039 Foreign currency translation loss (21,936 ) (2,967 ) (24,903 ) Accumulated other comprehensive loss (19,153 ) (2,730 ) (21,883 ) Additional paid-in 277,582 335 277,917 Total stockholders’ equity 313,881 (1,450 ) 312,431 The following tables present the effect of the correction of the misstatements on our Consolidated Statements of Cash Flows. Year Ended December 31, 2016 As Adjustment Reclasses (1) As Revised Net income (loss) $ 7,942 $ (1,279 ) $ 6,663 Adjustments to reconcile net income to net cash provided by (used by) operating activities: Depreciation and amortization 62,488 85 62,573 Write-off of debt issuance costs 3,089 (500 ) 2,589 Compensation expense from issuance of share-based awards 4,270 (335 ) 3,935 Deferred income taxes (10,430 ) (5,096 ) (15,526 ) Other — (122 ) (122 ) Changes in operating assets and liabilities: Other current assets (269 ) (253 ) (522 ) Other non-current assets 1,833 548 2,381 Income taxes payable (receivable) — (501 ) 284 (217 ) Other liabilities 1,946 6,828 390 9,164 Net cash provided by (used by) operating activities 69,303 (625 ) 674 69,352 Cash flows from investing activities Proceeds from insurance claim — 122 122 Net cash provided by (used by) investing activities (41,346 ) 122 — (41,224 ) Cash flows from financing activities Proceeds from long-term debt (2) — 44,000 44,000 Repayment of long-term debt (2) (30,000 ) (25,000 ) (55,000 ) Proceeds from (repayment of) short-term debt, net 18,544 (19,000 ) (456 ) Proceeds from shares issued 2,832 (2,832 ) — Proceeds from issuance of stock and exercise of stock options — 2,832 2,832 Shares withheld to satisfy income tax withholding — (173 ) (173 ) Net cash provided by (used by) financing activities (24,308 ) — (173 ) (24,481 ) Effect of exchange rate changes on cash flows (4,331 ) — 2 (4,329 ) Net change in cash and cash equivalents (682 ) (503 ) 503 (682 ) Cash and cash equivalents at beginning of period 15,087 15,087 Cash and cash equivalents at end of period 14,405 (503 ) 503 14,405 Year Ended December 31, 2015 As Adjustment Reclasses (1) As Revised Net income (loss) $ (7,431 ) $ 945 $ (6,486 ) Adjustments to reconcile net income to net cash provided by (used by) operating activities: Depreciation and amortization 44,482 (13 ) 44,469 Write-off of debt issuance costs 18,673 500 19,173 Compensation expense from issuance of share-based awards 3,704 335 4,039 Deferred income taxes (16,878 ) (2,265 ) (19,143 ) Changes in operating assets and liabilities: Accounts receivable (1,343 ) (1,149 ) (2,492 ) Other current assets (944 ) 865 (79 ) Other non-current assets (1,501 ) 942 (559 ) Income taxes payable (receivable) — (540 ) 3,171 2,631 Other liabilities 4,999 (307 ) (1,251 ) 3,441 Accounts payable (6,748 ) (1,215 ) (7,963 ) Net cash provided by (used by) operating activities 33,310 (753 ) 771 33,328 Net cash provided by (used by) investing activities (665,838 ) — — (665,838 ) Cash flows from financing activities Shares withheld to satisfy income tax withholding — (231 ) (231 ) Net cash provided by (used by) financing activities 611,851 — (231 ) 611,620 Effect of exchange rate changes on cash flows (1,553 ) 215 (2 ) (1,340 ) Net change in cash and cash equivalents (22,230 ) (538 ) 538 (22,230 ) Cash and cash equivalents at beginning of period 37,317 37,317 Cash and cash equivalents at end of period 15,087 (538 ) 538 15,087 (1) Includes the reclassification of prior period amounts to reflect current period presentation for the adoption of ASU 2016-09 (see Note 1), as well as for the addition of the income taxes payable (receivable) line item. (2) The 2016 presentation of proceeds from and repayments of long-term debt were shown net. The adjustments made are to present these amounts gross for each activity (proceeds from and repayments of) during 2016. |