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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net loss $ (13,584) $ (108,327)
Loss from discontinued operations, net of taxes 402 37
Adjustments to reconcile to net cash used by continuing operations:    
Depreciation, depletion and amortization 15,731 18,484
Amortization of debt issue costs and original issue discount 2,246 452
Pension settlement charge 633 0
Goodwill and other asset impairment charges 0 117,349
Russia/Ukraine conflict charges 0 3,948
Deferred income tax benefit (675) (21,227)
Gains on dispositions of plant, equipment and timberlands, net (644) (2,961)
Share-based compensation 931 909
Change in operating assets and liabilities:    
Accounts receivable (2,306) (53,318)
Inventories (8,827) (17,699)
Prepaid and other current assets (9,117) (5,946)
Accounts payable (23,136) 1,776
Accruals and other current liabilities 7,550 949
Other 164 (666)
Net cash used by operating activities from continuing operations (30,632) (66,240)
Investing activities    
Expenditures for purchases of plant, equipment and timberlands (9,500) (12,349)
Proceeds from disposals of plant, equipment and timberlands, net 713 3,160
Acquisition, net of cash acquired 0 1,413
Other 0 (25)
Net cash used by investing activities from continuing operations (8,787) (7,801)
Financing activities    
Proceeds from term loan 262,273 0
Repayment of term loans (225,466) (6,712)
Net borrowings (repayments) under revolving credit facility (16,332) 31,019
Payments of borrowing costs (5,060) (559)
Payments of dividends 0 (6,237)
Payments related to share-based compensation awards and other (236) (1,230)
Net cash provided by financing activities from continuing operations 15,179 16,281
Effect of exchange rate changes on cash 1,266 (748)
Net decrease in cash, cash equivalents and restricted cash (22,974) (58,508)
Decrease in cash, cash equivalents and restricted cash from discontinued operations (11) (108)
Cash, cash equivalents and restricted cash at the beginning of period 119,162 148,814
Cash, cash equivalents and restricted cash at the end of period 96,177 90,198
Less: restricted cash in Other assets (3,936) (7,746)
Less: restricted cash in Prepaid expenses and other current assets (3,600) (2,000)
Cash and cash equivalents at the end of period 88,641 80,452
Cash paid for:    
Interest 4,993 1,494
Income taxes, net $ 1,667 $ 8,245