0000045876-18-000142 | 10-Q | XBRL Viewer

$ 445,475

$ 384,653

$ 1,285,485

$ 1,152,092

59,297

59,993

175,307

168,315

388,366

350,024

1,138,210

1,045,707

57,109

34,629

147,275

106,385

Income from continuing operations before income taxes

(9,665)

(12,122)

(29,241)

(36,180)

48,821

22,437

121,195

69,766

Income tax (expense) benefit

(13,833)

(8,270)

(24,043)

(25,757)

34,988

14,167

97,152

44,009

Net Income (Loss) Attributable to Noncontrolling Interest

34,651

13,796

96,939

43,664

(1,804)

(498)

(5,795)

(2,438)

Amounts attributable to Harsco Corporation common stockholders:

Net income attributable to Harsco Corporation common stockholders

33,184

13,669

91,357

41,571

$ 32,847

$ 13,298

$ 91,144

$ 41,226

Basic earnings per common share attributable to Harsco Corporation common stockholders:

Basic earnings per share attributable to Harsco Corporation common stockholders (in dollars per share)

$ 0.41

$ 0.17

$ 1.13

$ 0.52

0.41

0.16

^[1]

1.13

0.51

^[1]

Diluted earnings per common share attributable to Harsco Corporation common stockholders:

Diluted earnings per share attributable to Harsco Corporation common stockholders (in dollars per share)

0.40

0.16

1.09

0.50

$ 0.39

^[1]

$ 0.16

$ 1.09

$ 0.50

Service Revenues [Member]

$ 250,890

$ 246,144

$ 763,815

$ 738,059

Product Revenues [Member]

194,459

194,483

589,738

577,200

194,585

138,509

521,670

414,033

Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09

132,262

$ 95,849

367,218

$ 295,367

(14,899)

(30,087)

103

(10,640)

(26,008)

(4,259)

(4,079)

Income from continuing operations before income taxes

550

1,453

(3,709)

(2,626)

Income tax (expense) benefit

932

919

(2,777)

(1,707)

Net Income (Loss) Attributable to Noncontrolling Interest

(2,777)

(1,707)

(10)

(8)

Amounts attributable to Harsco Corporation common stockholders:

Net income attributable to Harsco Corporation common stockholders

(2,787)

(1,715)

$ (2,787)

$ (1,715)

Basic earnings per common share attributable to Harsco Corporation common stockholders:

Basic earnings per share attributable to Harsco Corporation common stockholders (in dollars per share)

$ (0.03)

$ (0.02)

(0.03)

(0.02)

Diluted earnings per common share attributable to Harsco Corporation common stockholders:

Diluted earnings per share attributable to Harsco Corporation common stockholders (in dollars per share)

(0.03)

(0.02)

$ (0.03)

$ (0.02)

Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Service Revenues [Member]

$ 512

$ 4,182

Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Product Revenues [Member]

1,273

3,980

(15,411)

(34,269)

Calculated under Revenue Guidance in Effect before Topic 606 [Member]

(11,979)

(30,091)

430,576

1,255,398

59,363

175,410

377,726

1,112,202

52,850

143,196

Income from continuing operations before income taxes

(9,115)

(27,788)

45,112

118,569

Income tax (expense) benefit

(12,901)

(23,124)

32,211

95,445

Net Income (Loss) Attributable to Noncontrolling Interest

31,874

95,232

(1,814)

(5,803)

Amounts attributable to Harsco Corporation common stockholders:

Net income attributable to Harsco Corporation common stockholders

30,397

89,642

$ 30,060

$ 89,429

Basic earnings per common share attributable to Harsco Corporation common stockholders:

Basic earnings per share attributable to Harsco Corporation common stockholders (in dollars per share)

$ 0.38

$ 1.11

0.37

1.11

Diluted earnings per common share attributable to Harsco Corporation common stockholders:

Diluted earnings per share attributable to Harsco Corporation common stockholders (in dollars per share)

0.36

1.07

$ 0.36

$ 1.07

Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Service Revenues [Member]

$ 251,402

$ 767,997

Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Product Revenues [Member]

195,732

593,718

179,174

487,401

Schedule of operations by segment

$ 120,283

$ 337,127

[1]	Does not total due to rounding

Review of Operations by Segment (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]



	Three Months Ended				Nine Months Ended
	September 30				September 30
(In thousands)	2018		2017		2018		2017
Revenues From Continuing Operations
Harsco Metals & Minerals	$	268,881	$	255,163	$	805,924	$	761,503
Harsco Industrial	93,912		78,318		269,575		217,766
Harsco Rail	82,682		51,134		209,912		172,716
Corporate	—		38		74		107
Total Revenues From Continuing Operations	$	445,475	$	384,653	$	1,285,485	$	1,152,092



	Three Months Ended						Nine Months Ended
	September 30						September 30
(In thousands)	2018			2017			2018			2017
Operating Income (Loss) From Continuing Operations
Harsco Metals & Minerals	$	29,338		$	23,613		$	92,734		$	80,834
Harsco Industrial	13,959			12,954			40,550			25,088
Harsco Rail	19,000			4,391			29,570			18,800
Corporate	(5,188		)	(6,329		)	(15,579		)	(18,337		)
Total Operating Income From Continuing Operations	$	57,109		$	34,629		$	147,275		$	106,385
Depreciation and Amortization
Harsco Metals & Minerals	$	29,007		$	28,636		$	86,724		$	84,444
Harsco Industrial	1,971			1,826			5,708			5,509
Harsco Rail	1,063			1,094			3,166			3,156
Corporate	1,332			1,449			4,346			4,399
Total Depreciation and Amortization	$	33,373		$	33,005		$	99,944		$	97,508
Capital Expenditures
Harsco Metals & Minerals	$	29,870		$	20,994		$	79,469		$	58,065
Harsco Industrial	1,891			1,678			5,894			3,226
Harsco Rail	2,748			462			5,266			1,765
Corporate	297			297			673			1,075
Total Capital Expenditures	$	34,806		$	23,431		$	91,302		$	64,131

Reconciliation of segment operating income to income from continuing operations before income taxes and equity income

Reconciliation of Segment Operating Income to Income From Continuing Operations Before Income Taxes



	Three Months Ended						Nine Months Ended
	September 30						September 30
(In thousands)	2018			2017			2018			2017
Segment operating income	$	62,297		$	40,958		$	162,854		$	124,722
General Corporate expense	(5,188		)	(6,329		)	(15,579		)	(18,337		)
Operating income from continuing operations	57,109			34,629			147,275			106,385
Interest income	574			610			1,649			1,615
Interest expense	(9,665		)	(12,122		)	(29,241		)	(36,180		)
Defined benefit pension income (expense)	928			(680		)	2,671			(2,054		)
Loss on early extinguishment of debt	(125		)	—			(1,159		)	—
Income from continuing operations before income taxes	$	48,821		$	22,437		$	121,195		$	69,766

Recently Adopted and Recently Issued Accounting Standards - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Defined benefit pension income (expense)	$ (928)	$ 680	$ (2,671)	$ 2,054
Adoption of new accounting standard (See Note 2)					$ 2,375		$ 397
Stranded income tax effects in accumulated other comprehensive income						$ 21,000
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new accounting standard (See Note 2)	$ 100		$ 100		$ 3,895		$ (709)

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Oct. 26, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	HARSCO CORP
Entity Central Index Key	0000045876
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		80,313,239

Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2018

Retirement Benefits [Abstract]

Schedule of net benefit costs



	Three Months Ended
	September 30
Defined Benefit Pension Plans Net Periodic Pension Cost (Benefit)	U.S. Plans						International Plans
(In thousands)	2018			2017			2018			2017
Service costs	$	10		$	10		$	401		$	426
Interest costs	2,391			2,469			5,498			5,843
Expected return on plan assets	(3,017		)	(2,620		)	(10,820		)	(10,632		)
Recognized prior service costs	—			8			(37		)	48
Recognized loss	1,302			1,425			3,737			4,130
Defined benefit pension plans net periodic pension cost (benefit)	$	686		$	1,292		$	(1,221	)	$	(185	)



	Nine Months Ended
	Sept 30
Defined Benefit Pension Plans Net Periodic Pension Cost (Benefit)	U.S. Plans						International Plans
(In thousands)	2018			2017			2018			2017
Service costs	$	31		$	32		$	1,195		$	1,243
Interest costs	7,172			7,408			16,612			17,349
Expected return on plan assets	(9,051		)	(7,863		)	(32,661		)	(31,571		)
Recognized prior service costs	—			24			(113		)	139
Recognized loss	3,906			4,276			11,267			12,260
Settlement/curtailment losses	166			—			—			—
Defined benefit pension plans net periodic pension cost (benefit)	$	2,224		$	3,877		$	(3,700	)	$	(580	)

Schedule of contributions to pension plans



	Three Months Ended				Nine Months Ended
Company Contributions	September 30				September 30
(In thousands)	2018		2017		2018		2017
Defined benefit pension plans (U.S.)	$	5,958	$	4,112	$	9,309	$	5,054
Defined benefit pension plans (International)	3,219		3,038		16,192		14,338
Multiemployer pension plans	492		498		1,512		1,481
Defined contribution pension plans	2,306		3,278		7,888		8,306

Derivative Instruments, Hedging Activities and Fair Value

9 Months Ended

Sep. 30, 2018

Derivative Instruments, Hedging Activities And Fair Value Disclosure [Abstract]

Derivative Instruments, Hedging Activities and Fair Value

Derivative Instruments and Hedging Activities

The Company uses derivative instruments, including foreign currency exchange forward contracts, interest rate swaps and cross-currency interest rate swaps ("CCIRs"), to manage certain foreign currency and interest rate exposures. Derivative instruments are viewed as risk management tools by the Company and are not used for trading or speculative purposes. All derivative instruments are recorded on the Condensed Consolidated Balance Sheets at fair value.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The Company utilizes market data or assumptions that the Company believes market participants would use in valuing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique.

The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs), and (2) an entity’s own assumptions about market participant assumptions based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which give the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3).

The three levels of the fair value hierarchy are described below:


•	Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

•

Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means.


•	Level 3—Inputs that are both significant to the fair value measurement and unobservable.

In instances in which multiple levels of inputs are used to measure fair value, hierarchy classification is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

The Company primarily applies the market approach for recurring fair value measurements and endeavors to utilize the best available information. Accordingly, the Company utilizes valuation techniques that maximize the use of observable inputs, such as forward rates, interest rates, the Company’s credit risk and counterparties’ credit risks, and which minimize the use of unobservable inputs. The Company is able to classify fair value balances based on the ability to observe those inputs. Foreign currency exchange forward contracts, interest rate swaps and CCIRs are based upon pricing models using market-based inputs (Level 2). Model inputs can be verified, and valuation techniques do not involve significant management judgment.

The fair value of outstanding derivative contracts recorded as assets and liabilities on the Condensed Consolidated Balance Sheets was as follows:



(In thousands)	Balance Sheet Location	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
September 30, 2018
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	2,209	$	7,742	$	9,951
Interest rate swaps	Other current assets	1,900		—		1,900
Interest rate swaps	Other assets	3,453		—		3,453
Total		$	7,562	$	7,742	$	15,304
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	109	$	1,583	$	1,692
Interest rate swaps	Other liabilities	31		—		31
Total		$	140	$	1,583	$	1,723



(In thousands)	Balance Sheet Location	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
December 31, 2017
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	2,329	$	2,915	$	5,244
Interest rate swaps	Other current assets	464		—		464
Interest rate swaps	Other assets	170		—		$	170
Total		$	2,963	$	2,915	$	5,878
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	153	$	6,970	$	7,123
Interest rate swaps	Other liabilities	1,368		—		1,368
Total		$	1,521	$	6,970	$	8,491

All of the Company's derivatives are recorded in the Condensed Consolidated Balance Sheets at gross amounts and not offset. All of the Company's interest rate swaps, CCIRs and certain foreign currency exchange forward contracts are transacted under International Swaps and Derivatives Association ("ISDA") documentation. Each ISDA master agreement permits the net settlement of amounts owed in the event of default. The Company's derivative assets and liabilities subject to enforceable master netting arrangements resulted in a net asset of $1.3 million and a net liability of $0.2 million at September 30, 2018 and December 31, 2017, respectively.

The effect of derivative instruments in the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Comprehensive Income, was as follows:

Derivatives Designated as Hedging Instruments



(In thousands)	Amount Recognized in Other Comprehensive Income (“OCI”) on Derivative - Effective Portion				Location of Amount Reclassified from Accumulated OCI into Income - Effective Portion	Amount Reclassified from Accumulated OCI into Income - Effective Portion or Equity			Location of Amount Recognized in Income on Derivative - Ineffective Portion and Amount Excluded from Effectiveness Testing	Amount Recognized in Income on Derivative - Ineffective Portion and Amount Excluded from Effectiveness Testing
Three Months Ended September 30, 2018:
Foreign currency exchange forward contracts	$	(410	)		Product revenues	$	(3	)		$	—
Interest rate swaps	1,276				Interest expense	(367		)		—
Cross-currency interest rate swaps	—			(a)	Interest expense	312				—
	$	866				$	(58	)		$	—
Three Months Ended September 30, 2017:
Foreign currency exchange forward contracts	$	2,333				$	—			$	—
Interest rate swaps	(335		)			—				—
Cross-currency interest rate swaps	(72		)	(a)	Interest Expense	252			Cost of services and products sold	(103		)
	$	1,926				$	252			$	(103	)



(In thousands)	Amount Recognized in Other Comprehensive Income (“OCI”) on Derivative - Effective Portion				Location of Amount Reclassified from Accumulated OCI into Income - Effective Portion	Amount Reclassified from Accumulated OCI into Income - Effective Portion or Equity			Location of Amount Recognized in Income on Derivative - Ineffective Portion and Amount Excluded from Effectiveness Testing	Amount Recognized in Income on Derivative - Ineffective Portion and Amount Excluded from Effectiveness Testing
Nine Months Ended September 30, 2018:
Foreign currency forward exchange contracts	$	1,369			Product revenues / Cost of services and products sold	$	(112	)		$	—
Foreign currency forward exchange contracts	—				Retained earnings (b)	(1,520		)		—
Interest rate swaps	6,657				Interest expense	(602		)		—
Cross currency interest rate swaps	—				Interest expense	960				—
	$	8,026				$	(1,274	)		$	—
Nine Months Ended September 30, 2017:
Foreign currency forward exchange contracts	$	3,096			Product revenues / Cost of services and products sold	$	(185	)		$	—
Interest rate swaps	(2,878		)			—				—
Cross currency interest rate swaps	(195		)	(a)	Interest expense	745			Cost of services and products sold	(420		)
	$	23				$	560			$	(420	)

(a) Amounts represent changes in foreign currency translation related to balances in Accumulated other comprehensive loss.

(b) The Company has adopted the new revenue recognition standard utilizing the modified retrospective transition method, including use of practical expedients. See Note 2, Recently Adopted and Recently Issued Accounting Standards for additional information.

Derivatives Not Designated as Hedging Instruments



	Location of Gain (Loss) Recognized in Income on Derivative	Amount of Gain (Loss) Recognized in Income on Derivative(c)
(In thousands)	Location of Gain (Loss) Recognized in Income on Derivative	2018		2017
Three Months Ended September 30:
Foreign currency exchange forward contracts	Cost of services and products sold	$	3,194	$	(7,025	)
Nine Months Ended September 30:
Foreign currency exchange forward contracts	Cost of services and products sold	$	13,459	$	(18,764	)

(c) These gains (losses) offset amounts recognized in cost of services and products sold principally as a result of intercompany or third party foreign currency exposures.

Foreign Currency Exchange Forward Contracts

The Company conducts business in multiple currencies and, accordingly, is subject to the inherent risks associated with foreign exchange rate movements. Foreign currency-denominated assets and liabilities are translated into U.S. dollars at the exchange rates existing at the respective balance sheet dates, and income and expense items are translated at the average exchange rates during the respective periods.

The Company uses derivative instruments to hedge cash flows related to foreign currency fluctuations. Foreign currency exchange forward contracts outstanding are part of a worldwide program to minimize foreign currency exchange operating income and balance sheet exposure by offsetting foreign currency exposures of certain future payments between the Company and various subsidiaries, suppliers or customers. The unsecured contracts are with major financial institutions. The Company may be exposed to credit loss in the event of non-performance by the contract counterparties. The Company evaluates the creditworthiness of the counterparties and does not expect default by them. Foreign currency exchange forward contracts are used to hedge commitments, such as foreign currency debt, firm purchase commitments and foreign currency cash flows for certain export sales transactions.

Changes in the fair value of derivatives used to hedge foreign currency denominated balance sheet items are reported directly in earnings, along with offsetting transaction gains and losses on the items being hedged. Derivatives used to hedge forecasted cash flows associated with foreign currency commitments may be accounted for as cash flow hedges, as deemed appropriate, if the criteria for hedge accounting are met. Gains and losses on derivatives designated as cash flow hedges are deferred in Accumulated other comprehensive loss, a separate component of equity, and reclassified to earnings in a manner that matches the timing of the earnings impact of the hedged transactions. The ineffective portion of all hedges, if any, is recognized currently in earnings.

The recognized gains and losses offset amounts recognized in cost of services and products sold principally as a result of intercompany or third party foreign currency exposures. At September 30, 2018 and December 31, 2017, the notional amounts of foreign currency exchange forward contracts were $652.6 million and $671.9 million, respectively. These contracts are primarily denominated in British pounds sterling and Euros and mature through October 2021.

In addition to foreign currency exchange forward contracts, the Company designates certain loans as hedges of net investments in international subsidiaries. The Company recorded pre-tax net loss of $0.8 million and $7.5 million during the three and nine months ended September 30, 2018, respectively and pre-tax net gains of $7.6 million and $17.1 million for the three and nine months ended September 30, 2017, respectively, in Accumulated other comprehensive loss.

Interest Rate Swaps

The Company uses interest rate swaps in conjunction with certain debt issuances in order to secure a fixed interest rate. Changes in the fair value attributed to the effect of the swaps’ interest spread and changes in the credit worthiness of the counter-parties are recorded in Accumulated other comprehensive loss.

In January 2017 and February 2018, the Company entered into a series of interest rate swaps that cover the period from 2018 through 2022 and had the effect of converting $300.0 million of the Term Loan Facility from floating-rate to fixed-rate beginning in 2018. The fixed rates provided by the swaps replace the adjusted LIBOR rate in the interest calculation, ranging from 1.65% for 2018 to 3.12% for 2022. The total notional of the Company's interest rate swaps was $300.0 million as of September 30, 2018.

Cross-Currency Interest Rate Swaps

The Company may use CCIRs in conjunction with certain debt issuances in order to secure a fixed local currency interest rate. Under these CCIRs, the Company receives interest based on a fixed or floating U.S. dollar rate and pays interest on a fixed local currency rate based on the contractual amounts in dollars and the local currency, respectively. At maturity, there is also the payment of principal amounts between currencies. Changes in the fair value attributed to the effect of the swaps' interest spread and changes in the credit worthiness of the counter-parties are recorded in Accumulated other comprehensive loss. Changes in value attributed to the effect of foreign currency fluctuations are recorded in the Condensed Consolidated Statements of Operations and offset currency fluctuation effects on the debt principal. The Company had no outstanding CCIRs at September 30, 2018.

Fair Value of Other Financial Instruments

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities and short-term borrowings approximate fair value due to the short-term maturities of these assets and liabilities. At September 30, 2018 and December 31, 2017, the total fair value of long-term debt (excluding deferred financing costs), including current maturities, was $649.0 million and $599.1 million, respectively, compared with a carrying value of $646.5 million and $593.7 million, respectively. Fair values for debt are based on pricing models using market-based inputs (Level 2) for similar issues or on the current rates offered to the Company for debt of the same remaining maturities.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

$ 445,475

$ 384,653

$ 1,285,485

$ 1,152,092

Research and development expenses

59,297

59,993

175,307

168,315

1,720

936

4,377

3,096

Other (income) expenses, net

628

(1,237)

1,570

1,729

388,366

350,024

1,138,210

1,045,707

57,109

34,629

147,275

106,385

Interest income

574

610

1,649

1,615

Defined benefit pension income (expense)

(9,665)

(12,122)

(29,241)

(36,180)

928

(680)

2,671

(2,054)

Loss on early extinguishment of debt

(125)

(1,159)

Income from continuing operations before income taxes

48,821

22,437

121,195

69,766

Income tax expense

(13,833)

(8,270)

(24,043)

(25,757)

Loss on disposal of discontinued business

34,988

14,167

97,152

44,009

Discontinued operations:

(433)

(578)

(274)

(538)

Income tax benefit related to discontinued business

207

193

Loss from discontinued operations, net of tax

(337)

(371)

(213)

(345)

Less: Net income attributable to noncontrolling interests

34,651

13,796

96,939

43,664

(1,804)

(498)

(5,795)

(2,438)

Net income attributable to Harsco Corporation

32,847

13,298

91,144

41,226

Amounts attributable to Harsco Corporation common stockholders:

Loss from discontinued operations, net of tax

33,184

13,669

91,357

41,571

(337)

(371)

(213)

(345)

Net income attributable to Harsco Corporation

$ 32,847

$ 13,298

$ 91,144

$ 41,226

Weighted-average shares of common stock outstanding (in shares)

80,950

80,637

80,821

80,519

Basic earnings per common share attributable to Harsco Corporation common stockholders:

Discontinued operations (in dollars per share)

$ 0.41

$ 0.17

$ 1.13

$ 0.52

Basic earnings (loss) per share attributable to Harsco Corporation common stockholders (in dollars per share)

$ 0.41

$ 0.16

^[1]

$ 1.13

$ 0.51

^[1]

Diluted weighted-average shares of common stock outstanding (in shares)

83,879

83,136

83,690

82,753

Diluted earnings per common share attributable to Harsco Corporation common stockholders:

Discontinued operations (in dollars per share)

$ 0.40

$ 0.16

$ 1.09

$ 0.50

Diluted earnings (loss) per share attributable to Harsco Corporation common stockholders (in dollars per share)

$ 0.39

^[1]

$ 0.16

$ 1.09

$ 0.50

Service Revenues [Member]

$ 250,890

$ 246,144

$ 763,815

$ 738,059

Product Revenues [Member]

194,459

194,483

589,738

577,200

194,585

138,509

521,670

414,033