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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Activities      
Net income (loss) $ (22,450) $ 128,416 $ 324,964
Loss (income) from discontinued operations (96,158) (28,965) (1,537)
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 153,275 145,957 96,646
Stock-based incentive compensation expense 6,531 13,007 8,986
Amortization of capitalized debt costs and debt discount 2,292 835 3,377
Deferred income tax (benefit) expense (25,552) 7,637 29,782
Gain on bargain purchase 0 (19,071) (316,555)
Increase in environmental liabilities 16,384 7,285 256
Net periodic benefit cost of pension and postretirement plans 16,580 5,063 10,264
Loss from sale/disposal of property, plant and equipment 1,295 3,186 2,032
Loss (gain) on foreign currency exchange 6,574 (12,170) (2,335)
Other (3,332) 3,390 1,304
Changes in operating assets and liabilities:      
Receivables 14,443 (31,532) (2,574)
Inventories 52,347 (21,579) (651)
Accounts payable (26,025) 30,162 17,629
Accrued liabilities (20,034) 4,864 (4,299)
All other operating activities (36,074) 9,597 (18,838)
Payments for pension and other postretirement benefit plans (11,593) (12,153) (13,763)
Expenditures for environmental liabilities (6,444) (11,852) (5,795)
Cash provided by operating activities-continuing operations 22,059 222,077 126,285
Cash provided by operating activities-discontinued operations 19,845 24,867 3,487
Cash Provided by Operating Activities 41,904 246,944 129,772
Investing Activities      
Acquisition of Tembec, net of cash acquired 0 0 (210,164)
Capital expenditures (102,807) (128,786) (74,955)
Proceeds from sale of resins operations 0 16,233 0
Realized gain on derivative instrument 0 0 7,780
Cash used for investing activities-continuing operations (102,807) (112,553) (277,339)
Cash provided by (used for) investing activities-discontinued operations 155,309 (3,413) (87)
Cash Used for Investing Activities 52,502 (115,966) (277,426)
Financing Activities      
Revolving credit facility and other borrowings 91,158 0 680,000
Repayments of revolving credit facility (86,000) 0 0
Repayment of debt (114,331) (45,270) (729,958)
Dividends paid on common stock (8,569) (15,058) (12,693)
Dividends paid on preferred stock (10,350) (13,800) (13,800)
Proceeds from the issuance of common stock 0 451 14
Repurchase of common stock (6,878) (42,780) (157)
Debt issuance costs (3,514) 0 (7,025)
Cash (Used for) Provided by Financing Activities (138,484) (116,457) (83,619)
Change in cash and cash equivalents (44,078) 14,521 (231,273)
Net effect of foreign exchange on cash and cash equivalents (863) (1,790) 853
Balance, beginning of year 108,966 96,235 326,655
Balance, end of year $ 64,025 $ 108,966 $ 96,235