Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Statement of Income

Condensed Consolidating Statement of Income for the

year ended December 31, 2017

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	790,933		$	89,787		$	798,603		$	(88,026	)	$	1,591,297
Energy and related sales, net		5,126			—			—			—			5,126
Total revenues		796,059			89,787			798,603			(88,026	)		1,596,423
Costs of products sold		747,736			85,196			659,007			(88,026	)		1,403,913
Gross profit		48,323			4,591			139,596			—			192,510
Selling, general and administrative
expenses		69,483			2,598			62,313			—			134,394
(Gain) loss on dispositions of plant
equipment and timberlands, net		223			(188	)		(9	)		—			26
Operating income (loss)		(21,383	)		2,181			77,292			—			58,090
Other non-operating
income (expense)
Interest expense		(20,394	)		(971	)		(1,801	)		5,394			(17,772	)
Interest income		599			4,947			85			(5,394	)		237
Equity in earnings of subsidiaries		18,864			60,871			—			(79,735	)		—
Other, net		2,241			(6,776	)		3,315			—			(1,220	)
Total other non-operating
income (expense)		1,310			58,071			1,599			(79,735	)		(18,755	)
Income (loss) before income taxes		(20,073	)		60,252			78,891			(79,735	)		39,335
Income tax provision (benefit)		(27,987	)		41,388			18,020			—			31,421
Net income		7,914			18,864			60,871			(79,735	)		7,914
Other comprehensive income		63,931			52,290			51,828			(104,118	)		63,931
Comprehensive income	$	71,845		$	71,154		$	112,699		$	(183,853	)	$	71,845

Condensed Consolidating Statement of Income for the

year ended December 31, 2016

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	843,582		$	75,000		$	755,860		$	(69,645	)	$	1,604,797
Energy and related sales, net		6,141			—			—			—			6,141
Total revenues		849,723			75,000			755,860			(69,645	)		1,610,938
Costs of products sold		763,109			70,991			627,880			(69,645	)		1,392,335
Gross profit		86,614			4,009			127,980			—			218,603
Selling, general and administrative
expenses		133,387			(156	)		57,463			—			190,694
Loss on dispositions of plant
equipment and timberlands, net		177			—			39			—			216
Operating income (loss)		(46,950	)		4,165			70,478			—			27,693
Other non-operating
income (expense)
Interest expense		(17,436	)		(41	)		(3,060	)		4,715			(15,822	)
Interest income		687			4,177			57			(4,715	)		206
Equity in earnings of subsidiaries		61,007			58,347			—			(119,354	)		—
Other, net		(2,312	)		(3,966	)		5,007			—			(1,271	)
Total other non-operating
income (expense)		41,946			58,517			2,004			(119,354	)		(16,887	)
Income (loss) before income taxes		(5,004	)		62,682			72,482			(119,354	)		10,806
Income tax provision (benefit)		(26,558	)		1,675			14,135			—			(10,748	)
Net income		21,554			61,007			58,347			(119,354	)		21,554
Other comprehensive loss		(14,120	)		(25,916	)		(25,176	)		51,092			(14,120	)
Comprehensive income	$	7,434		$	35,091		$	33,171		$	(68,262	)	$	7,434

Condensed Consolidating Statement of Income for the

year ended December 31, 2015

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net sales	$	875,026		$	84,704		$	779,380		$	(78,026	)	$	1,661,084
Energy and related sales, net		5,664			—			—			—			5,664
Total revenues		880,690			84,704			779,380			(78,026	)		1,666,748
Costs of products sold		811,329			80,455			650,025			(78,026	)		1,463,783
Gross profit		69,361			4,249			129,355			—			202,965
Selling, general and administrative
expenses		71,751			821			55,134			—			127,706
Gain on dispositions of plant
equipment and timberlands, net		(19,720	)		(1,183	)		(210	)		—			(21,113	)
Operating income		17,330			4,611			74,431			—			96,372
Other non-operating
income (expense)
Interest expense		(18,147	)		—			(36,859	)		37,542			(17,464	)
Interest income		673			37,127			26			(37,543	)		283
Equity in earnings of subsidiaries		61,946			24,737			—			(86,683	)		—
Other, net		(3,389	)		(1,471	)		4,245			—			(615	)
Total other non-operating
income (expense)		41,083			60,393			(32,588	)		(86,684	)		(17,796	)
Income before income taxes		58,413			65,004			41,843			(86,684	)		78,576
Income tax provision (benefit)		(6,162	)		2,922			17,241			—			14,001
Net income		64,575			62,082			24,602			(86,684	)		64,575
Other comprehensive income (loss)		(35,616	)		(41,010	)		29,680			11,330			(35,616	)
Comprehensive income	$	28,959		$	21,072		$	54,282		$	(75,354	)	$	28,959

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet as of December 31, 2017

In thousands	Parent Company		Guarantors		Non Guarantors		Adjustments/ Eliminations			Consolidated
Assets
Cash and cash equivalents	$	1,292	$	720	$	114,207	$	—		$	116,219
Other current assets		249,293		217,822		279,626		(277,989	)		468,752
Plant, equipment and timberlands, net		375,231		80,992		409,520		—			865,743
Investments in subsidiaries		829,895		653,128		—		(1,483,023	)		—
Other assets		139,552		—		140,529		—			280,081
Total assets	$	1,595,263	$	952,662	$	943,882	$	(1,761,012	)	$	1,730,795
Liabilities and Shareholders' Equity
Current liabilities	$	402,787	$	54,640	$	167,738	$	(277,989	)	$	347,176
Long-term debt		368,496		51,000		50,602		—			470,098
Deferred income taxes		14,081		16,814		52,676		—			83,571
Other long-term liabilities		100,971		313		19,738		—			121,022
Total liabilities		886,335		122,767		290,754		(277,989	)		1,021,867
Shareholders’ equity		708,928		829,895		653,128		(1,483,023	)		708,928
Total liabilities and shareholders’ equity	$	1,595,263	$	952,662	$	943,882	$	(1,761,012	)	$	1,730,795

Condensed Consolidating Balance Sheet as of December 31, 2016

In thousands	Parent Company		Guarantors			Non Guarantors		Adjustments/ Eliminations			Consolidated
Assets
Cash and cash equivalents	$	5,082	$	1,461		$	48,901	$	—		$	55,444
Other current assets		206,002		256,289			242,187		(265,663	)		438,815
Plant, equipment and timberlands, net		360,521		31,455			383,922		—			775,898
Investments in subsidiaries		789,565		540,029			—		(1,329,594	)		—
Other assets		123,010		—			128,092		—			251,102
Total assets	$	1,484,180	$	829,234		$	803,102	$	(1,595,257	)	$	1,521,259
Liabilities and Shareholders' Equity
Current liabilities	$	426,628	$	26,085		$	135,961	$	(265,663	)	$	323,011
Long-term debt		283,686		14,000			65,961		—			363,647
Deferred income taxes		10,221		(729	)		45,503		—			54,995
Other long-term liabilities		109,819		313			15,648		—			125,780
Total liabilities		830,354		39,669			263,073		(265,663	)		867,433
Shareholders’ equity		653,826		789,565			540,029		(1,329,594	)		653,826
Total liabilities and shareholders’ equity	$	1,484,180	$	829,234		$	803,102	$	(1,595,257	)	$	1,521,259

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows for the year

ended December 31, 2017

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	(4,259	)	$	(3,506	)	$	112,027		$	—		$	104,262
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(65,822	)		(45,644	)		(20,838	)		—			(132,304	)
Proceeds from disposals of plant, equipment and timberlands, net		11			209			8			—			228
Repayments from intercompany loans		—			12,000			—			(12,000	)		—
Advances of intercompany loans		—			(14,400	)		—			14,400			—
Intercompany capital contributed		(14,000	)		(400	)		—			14,400			—
Acquisitions, net of cash acquired		—			—			—			—			—
Other		(243	)		—			—			—			(243	)
Total investing activities		(80,054	)		(48,235	)		(20,830	)		16,800			(132,319	)
Financing activities
Net long-term borrowings		84,200			37,000			(21,535	)		—			99,665
Payment of dividends to shareholders		(22,480	)		—			—			—			(22,480	)
Repayments of intercompany loans		—			—			(12,000	)		12,000			—
Borrowings of intercompany loans		14,400			—			—			(14,400	)		—
Intercompany capital received		—			14,000			400			(14,400	)		—
Proceeds from government grants		4,875			—			—			—			4,875
Payments related to share-based compensation awards and other		(472	)		—			—			—			(472	)
Total financing activities		80,523			51,000			(33,135	)		(16,800	)		81,588
Effect of exchange rate on cash		—			—			7,244			—			7,244
Net increase (decrease) in cash		(3,790	)		(741	)		65,306			—			60,775
Cash at the beginning of period		5,082			1,461			48,901			—			55,444
Cash at the end of period	$	1,292		$	720		$	114,207		$	—		$	116,219

Condensed Consolidating Statement of Cash Flows for the year

ended December 31, 2016

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	33,109		$	1,275		$	81,726		$	—		$	116,110
Investing activities
Expenditures for purchases of plant, equipment and timberlands		(104,595	)		(30,682	)		(24,881	)		—			(160,158	)
Proceeds from disposals of plant, equipment and timberlands, net		41			—			29			—			70
Repayments from intercompany loans		—			15,601			—			(15,601	)		—
Advances of intercompany loans		—			(18,330	)		—			18,330			—
Intercompany capital (contributed) returned		(17,000	)		(500	)		—			17,500			—
Other		(800	)		—			—			—			(800	)
Total investing activities		(122,354	)		(33,911	)		(24,852	)		20,229			(160,888	)
Financing activities
Net repayments of indebtedness		36,000			14,000			(35,886	)		—			14,114
Payments of borrowing costs		(136	)		—			—			—			(136	)
Payment of dividends to shareholders		(21,589	)		—			—			—			(21,589	)
Repayments of intercompany loans		—			—			(15,601	)		15,601			—
Borrowings of intercompany loans		18,330			—			—			(18,330	)		—
Intercompany capital (returned) received		—			17,000			500			(17,500	)		—
Payment of intercompany dividend		—			632			(632	)		—			—
Proceeds from government grants		3,582			2,000			—			—			5,582
Payments related to share-based compensation awards and other		(990	)		—			—			—			(990	)
Total financing activities		35,197			33,632			(51,619	)		(20,229	)		(3,019	)
Effect of exchange rate on cash		—			—			(2,063	)		—			(2,063	)
Net increase (decrease) in cash		(54,048	)		996			3,192			—			(49,860	)
Cash at the beginning of period		59,130			465			45,709			—			105,304
Cash at the end of period	$	5,082		$	1,461		$	48,901		$	—		$	55,444

Condensed Consolidating Statement of Cash Flows for the year

ended December 31, 2015

In thousands	Parent Company			Guarantors			Non Guarantors			Adjustments/ Eliminations			Consolidated
Net cash provided (used) by
Operating activities	$	34,391		$	627		$	98,725		$	—		$	133,743
Investing activities
Expenditures for plant, equipment and timberlands		(65,265	)		(109	)		(34,515	)		—			(99,889	)
Proceeds from disposal plant, equipment and timberlands, net		22,741			1,213			505			—			24,459
Repayments from intercompany loans		—			57,855			—			(57,855	)		—
Advances of intercompany loans		—			(49,230	)		—			49,230			—
Intercompany capital contributed, net		10,100			(300	)		—			(9,800	)		—
Acquisitions, net of cash acquired		—			—			(224	)		—			(224	)
Other		(1,600	)		—			—			—			(1,600	)
Total investing activities		(34,024	)		9,429			(34,234	)		(18,425	)		(77,254	)
Financing activities
Net proceeds from indebtedness		—			—			(24,650	)		—			(24,650	)
Payments of note offering costs		(1,329	)		—			—			—			(1,329	)
Payment of dividends to shareholders		(20,443	)		—			—			—			(20,443	)
Repayments of intercompany loans		(9,158	)		—			(48,697	)		57,855			—
Borrowings of intercompany loans		49,230			—			—			(49,230	)		—
Intercompany capital (returned) received		—			(10,100	)		300			9,800			—
Proceeds from government grants		421			—			—			—			421
Payments related to share-based compensation awards and other		(2,166	)		—			151			—			(2,015	)
Total financing activities		16,555			(10,100	)		(72,896	)		18,425			(48,016	)
Effect of exchange rate on cash		—			—			(3,006	)		—			(3,006	)
Net increase (decrease) in cash		16,922			(44	)		(11,411	)		—			5,467
Cash at the beginning of period		42,208			509			57,120			—			99,837
Cash at the end of period	$	59,130		$	465		$	45,709		$	—		$	105,304