Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2018

Discontinued Operations And Disposal Groups [Abstract]

Summary of Discontinued Operations Included in Condensed Consolidated Statements of Income

The following table sets forth a summary of discontinued operations included in the condensed consolidated statements of income:

	Three months ended September 30						Nine months ended September 30
In thousands	2018			2017			2018			2017
Net sales	$	201,288		$	203,206		$	590,757		$	600,346
Energy and related sales, net		844			1,236			3,217			3,346
Total revenues		202,132			204,442			593,974			603,692
Costs of products sold		181,628			188,076			572,820			569,840
Gross profit		20,504			16,366			21,154			33,852
Selling, general and administrative expenses		6,058			5,997			18,566			17,971
(Gains) losses on dispositions of plant, equipment and timberlands, net		3			70			(440	)		118
Operating income		14,443			10,299			3,028			15,763
Non-operating income (expense)
Interest expense		(2,281	)		(1,221	)		(6,017	)		(3,005	)
Other, net		(1,174	)		583			(81	)		1,664
Impairment charge		(125,644	)		—			(125,644	)		—
Income (loss) before income taxes		(114,656	)		9,661			(128,714	)		14,422
Income tax provision (benefit)		(19,530	)		2,601			(28,361	)		5,515
Income (loss) from discontinued operations	$	(95,126	)	$	7,060		$	(100,353	)	$	8,907

Summary of Carrying Amounts of Major Asset and Liabilities Classified as Held for Sale in Condensed Consolidated Balance Sheets

The following table sets forth the carrying amounts of Specialty Papers’ major asset and liabilities, which were classified as held for sale in the condensed consolidated balance sheets:

	September 30		December 31
In thousands	2018		2017
Assets
Accounts receivable, net	$	73,608	$	63,567
Inventories		105,311		115,858
Prepaid expenses and other current assets		9,403		10,527
Current assets held for sale	$	188,322	$	189,952
Plant, equipment and timberlands, net		210,891		350,560
Other assets		60,840		57,351
Noncurrent assets held for sale	$	271,731	$	407,911
Liabilities
Accounts payable	$	76,257	$	77,266
Other current liabilities		33,906		35,554
Current liabilities held for sale	$	110,163	$	112,820
Long-term liabilities held for sale	$	40,480	$	41,373

Summary of Cash Flows from Discontinued Operations Included in Condensed Consolidated Statements of Cash Flows

The following table sets forth a summary of cash flows from discontinued operations which is included in the condensed consolidated statements of cash flows:

	Nine months ended September 30
In thousands	2018			2017
Net cash provided by operating activities	$	33,721		$	32,295
Net cash used in investing activities		(14,018	)		(44,186	)
Net cash provided by financing activities		125		$	—
Change in cash and cash equivalents from discontinued operations	$	19,828		$	(11,891	)