XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.1
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from (used in) operating activities      
Net income (loss) $ (30,578,000) $ 88,897,000  
Adjustments to reconcile net income (loss) to cash flows from operating activities      
Depreciation and amortization 47,591,000 32,116,000  
Deferred income tax provision (recovery) (9,944,000) 8,383,000  
Inventory impairment 15,200,000 0 $ 0
Defined benefit pension plans and other post-retirement benefit plan expense 446,000 438,000  
Stock compensation expense 1,226,000 949,000  
Foreign exchange transaction losses (gains) 270,000 (3,828,000)  
Other (1,149,000) (801,000)  
Defined benefit pension plans and other post-retirement benefit plan contributions (247,000) (1,194,000)  
Changes in working capital      
Accounts receivable 11,342,000 (52,127,000)  
Inventories (86,434,000) (1,725,000)  
Accounts payable and accrued expenses 309,000 (567,000)  
Other 2,318,000 (1,731,000)  
Net cash from (used in) operating activities (49,650,000) 68,810,000  
Cash flows from (used in) investing activities      
Purchase of property, plant and equipment (33,429,000) (33,293,000)  
Property insurance proceeds 0 6,410,000  
Purchase of amortizable intangible assets (16,000) (60,000)  
Other 821,000 153,000  
Net cash from (used in) investing activities (32,624,000) (26,790,000)  
Cash flows from (used in) financing activities      
Proceeds from revolving credit facilities, net 30,102,000 30,504,000  
Payment of debt issuance costs 0 (1,184,000)  
Proceeds from government grants 0 1,067,000  
Payment of finance lease obligations (1,889,000) (4,935,000)  
Other (114,000) (843,000)  
Net cash from (used in) financing activities 28,099,000 24,609,000  
Effect of exchange rate changes on cash and cash equivalents 703,000 (1,534,000)  
Net increase (decrease) in cash and cash equivalents (53,472,000) 65,095,000  
Cash and cash equivalents, beginning of period 354,032,000 345,610,000 345,610,000
Cash and cash equivalents, end of period 300,560,000 410,705,000 $ 354,032,000
Supplemental cash flow disclosure:      
Cash paid for interest 33,240,000 32,073,000  
Cash paid for income taxes $ 1,773,000 $ 18,900,000