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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net loss $ (57,873) $ (70,387)
Loss (income) from discontinued operations, net of taxes (4,074) 894
Adjustments to reconcile to net cash used by continuing operations:    
Depreciation, depletion and amortization 47,125 47,394
Amortization of debt issue costs and original issue discount 3,121 4,292
Pension settlement charge 0 633
Deferred income tax benefit (2,166) (2,073)
Losses (gains) on dispositions of plant, equipment and timberlands, net 70 (1,350)
Share-based compensation 2,550 2,205
Loss on sale of Ober-Schmitten 0 17,805
Change in operating assets and liabilities:    
Accounts receivable 1,341 18,606
Inventories (10,477) 1,142
Prepaid and other current assets 31,985 (13,702)
Accounts payable (9,024) (60,042)
Accruals and other current liabilities (14,068) 11,380
Other 3,093 1,248
Net cash used by operating activities from continuing operations (8,397) (41,955)
Investing activities    
Expenditures for purchases of plant, equipment and timberlands (21,695) (25,229)
Proceeds from disposals of plant, equipment and timberlands, net 49 1,484
Payments related to Ober-Schmitten sale 0 (5,793)
Other 864 844
Net cash used by investing activities from continuing operations (20,782) (28,694)
Financing activities    
Proceeds from term loan 0 262,273
Repayment of term loans (988) (227,422)
Net borrowings (repayments) under revolving credit facility 19,037 (11,981)
Payments of borrowing costs (60) (11,603)
Payments related to share-based compensation awards and other (219) (280)
Net cash provided by financing activities from continuing operations 17,770 10,987
Effect of exchange rate changes on cash 192 (143)
Net decrease in cash, cash equivalents and restricted cash (11,217) (59,805)
Decrease in cash, cash equivalents and restricted cash from discontinued operations (234) (734)
Cash, cash equivalents and restricted cash at the beginning of period 55,360 119,162
Cash, cash equivalents and restricted cash at the end of period 43,909 58,623
Less: restricted cash in Prepaid expenses and other current assets (2,274) (3,600)
Less: restricted cash in Other assets 0 (2,282)
Cash and cash equivalents at the end of period 41,635 52,741
Cash paid for:    
Interest 44,481 37,026
Income taxes, net $ 8,268 $ 6,823