Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Sales $ 359,525 $ 431,675 $ 721,123 $ 790,896
Cost of goods sold 266,686 316,180 539,685 594,491
Gross profit 92,839 115,495 181,438 196,405
Selling, general and administrative expenses 38,926 43,375 82,224 84,083
Other operating expense, net 12,735 1,819 34,677 12,558
Operating income 41,178 70,301 64,537 99,764
Equity in net (income) from affiliated companies (11,492) (12,300) (19,842) (14,364)
Interest expense, net 22,275 28,540 46,730 57,158
Debt extinguishment costs 0 0 2,513 0
Other (income) expense, net (2,114) 3,035 691 56
Income before income taxes and noncontrolling interest 32,509 51,026 34,445 56,914
Provision for income taxes 16,262 20,307 17,689 22,754
Net income 16,247 30,719 16,756 34,160
Less: Net income attributable to the noncontrolling interest 321 145 606 435
Net income attributable to PQ Group Holdings Inc. $ 15,926 $ 30,574 $ 16,150 $ 33,725
Net income per share:        
Basic income per share (usd per share) $ 0.12 $ 0.23 $ 0.12 $ 0.25
Diluted income per share (usd per share) $ 0.12 $ 0.23 $ 0.12 $ 0.25
Weighted average shares outstanding:        
Basic (shares) 135,083,126 134,142,552 135,278,764 134,044,972
Diluted (shares) 135,671,830 135,323,024 136,079,540 135,107,007