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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net loss $ (50,524) $ (110,379)
Loss (income) from discontinued operations, net of taxes 711 (371)
Adjustments to reconcile to net cash used by continuing operations:    
Depreciation, depletion and amortization 31,701 34,936
Amortization of debt issue costs and original issue discount 3,281 963
Pension settlement charge 633 0
Goodwill and other asset impairment charges 0 117,349
Russia/Ukraine conflict charges 0 3,948
Deferred income tax expense (benefit) 959 (22,186)
Gains on dispositions of plant, equipment and timberlands, net (665) (2,888)
Share-based compensation 1,307 2,419
Change in operating assets and liabilities:    
Accounts receivable 4,180 (52,936)
Inventories (1,656) (45,148)
Prepaid and other current assets 7,418 3,472
Accounts payable (58,129) 9,516
Accruals and other current liabilities 3,633 (16,910)
Other 4,130 (1,320)
Net cash used by operating activities from continuing operations (53,021) (79,535)
Investing activities    
Expenditures for purchases of plant, equipment and timberlands (17,458) (22,697)
Proceeds from disposals of plant, equipment and timberlands, net 735 3,173
Acquisition, net of cash acquired 0 1,413
Other 0 (25)
Net cash used by investing activities from continuing operations (16,723) (18,136)
Financing activities    
Proceeds from term loan 262,273 0
Repayment of term loans (226,451) (23,793)
Net borrowings (repayments) under revolving credit facility (14,988) 72,176
Payments of borrowing costs (10,071) (1,102)
Payments of dividends 0 (12,498)
Payments related to share-based compensation awards and other (248) (1,237)
Net cash provided by financing activities from continuing operations 10,515 33,546
Effect of exchange rate changes on cash 1,096 (3,587)
Net decrease in cash, cash equivalents and restricted cash (58,133) (67,712)
Decrease in cash, cash equivalents and restricted cash from discontinued operations (428) (231)
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 60,601 80,871
Less: restricted cash in Prepaid expenses and other current assets (3,600) (2,000)
Less: restricted cash in Other assets (3,137) (7,395)
Cash and cash equivalents at the end of period 53,864 71,476
Cash paid for:    
Interest 27,001 15,879
Income taxes, net $ 4,109 $ 14,699