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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 17,331 $ 11,517
Loss from discontinued operations, net of taxes 614 135
Adjustments to reconcile to net cash provided by continuing operations:    
Depreciation, depletion and amortization 44,176 43,310
Amortization of debt issue costs and original issue discount 478 441
Asset impairment charge 0 900
Deferred income tax provision (419) 446
Gains on dispositions of plant, equipment and timberlands, net (4,638) (1,010)
Share-based compensation 4,015 3,994
Change in operating assets and liabilities:    
Accounts receivable (19,304) (6,053)
Inventories (34,640) 2,229
Prepaid and other current assets 8,742 (1,154)
Accounts payable 19,815 (33,790)
Accruals and other current liabilities 4,689 284
Other (2,362) 3,290
Net cash provided by operating activities from continuing operations 38,497 24,539
Investing activities    
Expenditures for purchases of plant, equipment and timberlands (18,519) (20,165)
Proceeds from disposals of plant, equipment and timberlands, net 4,951 1,037
Acquisition, net of cash acquired (172,331) 0
Other (104) (50)
Net cash used by investing activities from continuing operations (186,003) (19,178)
Financing activities    
Proceeds from short-term debt 23,559 0
Net borrowings under revolving credit facility 166,092 (26,092)
Payments of borrowing costs (1,855) 0
Repayment of term loans (18,154) (17,136)
Payments of dividends (18,224) (17,502)
Payments related to share-based compensation awards and other (154) (233)
Net cash provided (used) by financing activities from continuing operations 151,264 (60,963)
Effect of exchange rate changes on cash (4,082) 2,361
Net decrease in cash, cash equivalents and restricted cash (324) (53,241)
Decrease in cash, cash equivalents and restricted cash from discontinued operations (481) (1,108)
Cash, cash equivalents and restricted cash at the beginning of period 111,665 126,201
Cash, cash equivalents and restricted cash at the end of period 110,860 71,852
Less: restricted cash in Prepaid expenses and other current assets (2,000) (2,000)
Less: restricted cash in Other assets (8,828) (10,611)
Cash and cash equivalents at the end of period 100,032 59,241
Cash paid for:    
Interest 4,709 4,704
Income taxes, net $ 9,794 $ 8,592