XML 22 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 122,880 $ 86,453 $ 10,938
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 73,161 29,912 34,190
Basis of real estate sold 16,698 6,827 8,011
Change in deferred taxes 12,161 15,364 1,853
Pension and other postretirement employee benefits 16,443 13,151 15,661
Equity-based compensation expense 8,206 4,722 4,390
Loss on sale of central Idaho timber and timberlands [1]     48,522
Other, net (1,221) (1,872) (1,198)
Change in working capital, net of business acquired:      
Receivables, net 2,822 3,602 (3,712)
Inventories, net 273 2,490 (17,460)
Other assets (3,996) (15) (473)
Accounts payable and accrued liabilities (5,212) 11,591 7,232
Other liabilities (6,173) (4,291) (4,537)
Real estate development expenditures (5,049)    
Funding of qualified pension plans (52,099) (5,275) (1,300)
Net cash provided by operating activities 178,894 162,659 102,117
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (29,880) (12,855) (5,866)
Timberlands reforestation and roads (17,378) (15,207) (13,422)
Acquisition of timber and timberlands (4,877) (22,043) (1,244)
Net proceeds from sale of central Idaho timber and timberlands     111,460
Cash and cash equivalents acquired in merger 3,419    
Transfer from company owned life insurance (COLI) 1,796 1,278 6,384
Transfer to COLI (1,027) (1,324) (3,967)
Other, net 38 131 6
Net cash (used in) provided by investing activities (47,909) (50,020) 93,351
CASH FLOWS FROM FINANCING ACTIVITIES      
Distributions to common stockholders (146,768) (61,931) (60,842)
Repurchase of common stock     (5,956)
Proceeds from Potlatch revolving line of credit 100,000    
Repayment of revolving line of credit (100,000)   (30,000)
Proceeds from issuance of long-term debt 100,000   93,235
Repayment of long-term debt (14,250) (11,000) (113,335)
Other, net (4,983) (1,835) (3,911)
Net cash used in financing activities (172,001) (74,766) (120,809)
Change in cash, cash equivalents and restricted cash (41,016) 37,873 74,659
Cash, cash equivalents and restricted cash at beginning of period 120,457 82,584 7,925
Cash, cash equivalents and restricted cash at end of period 79,441 120,457 82,584
Cash paid (received) during the year for:      
Interest, net of amounts capitalized 34,490 26,125 28,051
Income taxes, net 10,800 $ 15,845 $ (8,081)
Deltic [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES      
Repayment of revolving line of credit $ (106,000)    
[1] In the second quarter of 2016, we sold approximately 172,000 acres of timberlands located in central Idaho for $114 million at a loss of $48.5 million before taxes.