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INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Cash flows from (used in) operating activities        
Net loss $ (67,586) $ (98,306) $ (84,289) $ (128,884)
Adjustments to reconcile net loss to cash flows from operating activities        
Depreciation and amortization 39,941 40,152 80,345 87,743
Deferred income tax provision (recovery) 7,322 (34,105) (6,104) (44,049)
Inventory impairment 0 51,400 0 66,600
Loss on disposal of investment in joint venture 0 0 23,645 0
Goodwill impairment 34,277 0 34,277 0
Defined benefit pension plans and other post-retirement benefit plan expense 431 451 641 897
Stock compensation expense 1,403 1,387 3,432 2,613
Foreign exchange transaction losses (gains) (3,382) 224 (6,831) 494
Other 1,389 (5,452) 2,116 (6,601)
Defined benefit pension plans and other post-retirement benefit plan contributions (288) (1,318) (617) (1,565)
Changes in working capital        
Accounts receivable 21,929 12,168 (41,800) 23,510
Inventories 4,506 58,880 4,595 (27,554)
Accounts payable and accrued expenses 15,718 (7,490) 18,108 (7,181)
Other 6,525 (3,293) 5,473 (975)
Net cash from (used in) operating activities 62,185 14,698 32,991 (34,952)
Cash flows from (used in) investing activities        
Purchase of property, plant and equipment (17,883) (39,482) (36,344) (72,911)
Acquisition, net of cash acquired 0 (82,100) 0 (82,100)
Property insurance proceeds 0 2,710 0 2,710
Proceeds from government grants 0 0 787 0
Other (2,271) 1,120 (2,081) 1,925
Net cash from (used in) investing activities (20,154) (117,752) (37,638) (150,376)
Cash flows from (used in) financing activities        
Proceeds from (repayment of) revolving credit facilities, net (44,965) 24,305 (35,840) 54,407
Dividend payments (5,014) (4,982) (5,014) (4,982)
Payment of finance lease obligations (2,687) (1,898) (4,876) (3,787)
Other (614) (115) (729) (229)
Net cash from (used in) financing activities (53,280) 17,310 (46,459) 45,409
Effect of exchange rate changes on cash and cash equivalents 150 (1,478) 287 (775)
Net decrease in cash and cash equivalents (11,099) (87,222) (50,819) (140,694)
Cash and cash equivalents, beginning of period 274,272 300,560 313,992 354,032
Cash and cash equivalents, end of period 263,173 213,338 263,173 213,338
Supplemental cash flow disclosure:        
Cash paid for interest 16,813 3,621 51,529 36,861
Cash paid for income taxes 4,522 1,461 12,695 3,234
Supplemental schedule of non-cash investing and financing activities:        
Leased production and other equipment $ 4,131 $ 1,089 $ 8,645 $ 1,131