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Condensed Consolidated Statements of Cash Flows (Unaudited)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2021
USD ($)
Jun. 30, 2020
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss)   $ 319,011 $ (14,194)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization $ 18,171 35,831 37,215
Basis of real estate sold 2,693 16,036 9,191
Change in deferred taxes   562 (13,849)
Pension and other postretirement employee benefits   11,111 11,833
Pension settlement charge     42,988
Equity-based compensation expense   4,070 3,865
Other, net   (295) (177)
Change in working capital and operating-related activities, net   (37,154) 16,397
Real estate development expenditures   (3,999) (2,487)
Funding of pension and other postretirement employee benefits   (3,833) (2,839)
Net cash provided by operating activities   341,340 87,943
CASH FLOWS FROM INVESTING ACTIVITIES      
Property, plant and equipment additions   (15,943) (10,295)
Timberlands reforestation and roads   (7,954) (7,776)
Acquisition of timber and timberlands   (2,192) (4,730)
Proceeds on sale of facility     1,000
Other, net   635 2,113
Net cash used in investing activities   (25,454) (19,688)
CASH FLOWS FROM FINANCING ACTIVITIES      
Distributions to common stockholders   (54,973) (53,685)
Repurchase of common stock     (15,364)
Other, net   (1,223) (526)
Net cash used in financing activities   (56,196) (69,575)
Change in cash, cash equivalents and restricted cash   259,690 (1,320)
Cash, cash equivalents and restricted cash at beginning of period   252,340 84,254
Cash, cash equivalents and restricted cash at end of period 82,934 512,030 82,934
NONCASH INVESTING AND FINANCING ACTIVITIES      
Accrued property, plant and equipment additions   1,474 706
Accrued timberlands reforestation and roads   1,170 462
Cash and cash equivalents 80,987 $ 512,030 80,987
Restricted cash included in other long-term assets $ 1,947 [1]   $ 1,947 [1]
Restricted Cash, Asset, Statement of Financial Position [Extensible List] us-gaap:OtherAssetsMember us-gaap:OtherAssetsMember us-gaap:OtherAssetsMember
[1] Amounts included in restricted cash represent proceeds held by a qualified intermediary that are intended to be reinvested in timber and timberlands.