Selected Quarterly Data

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]


SELECTED QUARTERLY DATA						(Unaudited)
(Dollar amounts in thousands except per share amounts.)


	2020
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Net sales	$	531,694	$	496,259	$	764,850	$	728,271
Gross profit	55,913		65,640		237,275		128,987
Net income attributable to Cooper Tire & Rubber Company	(11,591)		(6,215)		122,604		37,991
(Loss) Earnings per share:
Basic	(0.23)		(0.12)		2.44		0.75
Diluted	(0.23)		(0.12)		2.42		0.75
Net sales:
Americas Tire	$	457,055	$	425,523	$	659,538	$	628,773
International Tire	102,387		100,924		142,153		136,191
Eliminations	(27,748)		(30,188)		(36,841)		(36,693)
Consolidated net sales	$	531,694	$	496,259	$	764,850	$	728,271
Operating profit (loss):
Americas Tire	$	10,416	$	21,808	$	175,747	$	72,378
International Tire	(10,279)		1,447		8,766		3,234
Unallocated corporate charges	(6,951)		(18,455)		(13,355)		(15,928)
Eliminations	586		511		349		607
Consolidated operating (loss) profit	(6,228)		5,311		171,507		60,291
Interest expense	(5,007)		(6,507)		(5,400)		(5,793)
Interest income	1,696		650		559		664
Other pension and postretirement benefit expense	(4,210)		(5,582)		(5,621)		(10,007)
Other non-operating income (expense)	1,773		(397)		2,303		901
(Loss) Income before income taxes	$	(11,976)	$	(6,525)	$	163,348	$	46,056
Net (loss) income	$	(11,317)	$	(5,643)	$	123,123	$	37,741
Net (loss) income attributable to Cooper Tire & Rubber Company	$	(11,591)	$	(6,215)	$	122,604	$	37,991

Basic and diluted (loss) earnings per share are computed independently for each quarter presented. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.

Each quarter's financial data is recorded here as disclosed in its respective 10-Q report. Therefore, the sum of quarterly information here may not equal the annual financial statement amounts due to rounding.


						(Unaudited)


	2019
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter (a)
Net sales	$	619,163	$	679,130	$	704,134	$	750,212
Gross profit	88,259		99,141		114,366		131,524
Net income attributable to Cooper Tire & Rubber Company	6,979		8,821		29,344		51,259
Earnings per share:
Basic	0.14		0.18		0.58		1.02
Diluted	0.14		0.18		0.58		1.02
Net sales:
Americas Tire	$	514,936	$	582,307	$	601,957	$	654,526
International Tire	143,785		138,514		132,270		119,434
Eliminations	(39,558)		(41,691)		(30,093)		(23,748)
Consolidated net sales	$	619,163	$	679,130	$	704,134	$	750,212
Operating profit (loss):
Americas Tire	$	38,789	$	46,814	$	67,941	$	84,209
International Tire	(1,339)		(1,296)		(4,831)		(5,924)
Unallocated corporate charges	(10,453)		(13,278)		(11,051)		(15,186)
Eliminations	(566)		(569)		710		484
Consolidated operating profit	26,431		31,671		52,769		63,583
Interest expense	(8,314)		(7,810)		(7,476)		(7,590)
Interest income	3,380		1,999		1,507		2,571
Other pension and postretirement benefit expense (b)	(9,362)		(9,288)		(9,562)		(13,355)
Other non-operating income (loss)	1,380		(1,463)		(509)		(892)
Income before income taxes	$	13,515	$	15,109	$	36,729	$	44,317
Net income	$	7,178	$	9,258	$	29,008	$	52,871
Net income attributable to Cooper Tire & Rubber Company	$	6,979	$	8,821	$	29,344	$	51,259

Basic and diluted earnings per share are computed independently for each quarter presented. Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted earnings per share.

(a)In the fourth quarter, the Company recorded an income tax benefit of $18,606 as a result of a business realignment strategy implemented in Europe.

COOPER TIRE & RUBBER CO 10-K