XML 60 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income $ 7,406 $ 5,286
Income from discontinued operations, net of taxes   (683)
Adjustments to reconcile to net cash provided (used) by continuing operations:    
Depreciation, depletion and amortization 15,402 12,788
Amortization of debt issue costs and original issue discount 147 1,236
Deferred income tax benefit (2,612) (1,240)
Gains on dispositions of plant, equipment and timberlands, net   (669)
Share-based compensation 1,085 477
Change in operating assets and liabilities    
Accounts receivable (7,203) (10,364)
Inventories (3,688) (13,233)
Prepaid and other current assets (2,315) (4,149)
Accounts payable (11,605) 2,066
Accruals and other current liabilities (2,931) (15,956)
Other 711 296
Net cash used by operating activities from continuing operations (5,603) (24,145)
Investing activities    
Expenditures for purchases of plant, equipment and timberlands (7,014) (5,865)
Proceeds from disposals of plant, equipment and timberlands, net   689
Acquisition, net of cash acquired   (1,974)
Other   (90)
Net cash used by investing activities from continuing operations (7,014) (7,240)
Financing activities    
Net (repayments) borrowings under revolving credit facility 2,452 (11,488)
Repayment of 5.375% Notes   (250,000)
Proceeds from term loans   248,644
Payments of borrowing costs   (1,757)
Repayment of term loans (3,089) (2,646)
Payments of dividends (5,752) (5,720)
Payments related to share-based compensation awards and other (458) (644)
Net cash used by financing activities from continuing operations (6,847) (23,611)
Effect of exchange rate changes on cash (937) (658)
Net decrease in cash, cash equivalents and restricted cash (20,401) (55,654)
Change in cash, cash equivalents and restricted cash from discontinued operations (316) (10,365)
Cash, cash equivalents and restricted cash at the beginning of period 126,201 142,685
Cash, cash equivalents and restricted cash at the end of period 105,484 76,666
Less: restricted cash included in "Prepaid expenses and other current assets" (1,259)  
Cash and cash equivalents at the end of period 104,225 76,666
Cash paid for:    
Interest 1,443 5,989
Income taxes, net $ 3,446 $ 2,956