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Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Operating activities:        
Net income $ 15,406 $ 9,567 $ 14,405 $ 64,977
Adjustments to reconcile net income to net cash provided by (used in) operating activities:        
Depreciation and amortization 11,027 10,568 21,908 20,954
(Gain) loss on asset sales (3,436) 185 (6,796) 265
Change in accounts receivable (4,216) (7,096) (4,802) (13,612)
Change in inventories (4,331) (3,896) (19,072) (14,800)
Change in accounts payable 1,339 5,190 672 788
Accrued interest and amortization of discounts, warrants and finance fees 9,479 10,585 826 15,791
Gain on redemption of new PIK notes       (70,193)
Payment of interest on new PIK notes       (29,400)
Call premium on senior notes and floating rate notes     1,203 8,415
Write-off of finance fees & discounts on senior notes, old ABL and floating rate notes     1,600 4,986
Pension & non-pension postretirement benefits (507) (134) 2,944 2,871
Restructuring charges (421) 2,827 (566) 2,396
Accrued liabilities & prepaid expenses 9,476 6,843 1,209 (2,464)
Income taxes (5,443) 3,405 (9,746) (239)
Share-based compensation expense 1,140 1,385 1,967 1,831
Other operating activities 401 (1,317) 1,082 (619)
Net cash provided by (Used in) operating activities 29,914 38,112 6,834 (8,053)
Investing activities:        
Additions to property, plant and equipment (9,892) (7,231) (18,398) (11,379)
Net proceeds from sale of Traex 12,842   12,842  
Call premium on senior notes and floating rate notes     (1,203) (8,415)
Proceeds from asset sales and other 597   5,199  
Net cash provided by (used in) investing activities 3,547 (7,231) (1,560) (19,794)
Financing activities:        
Net (repayments) borrowings on ABL credit facility (2,245)   2,105  
Other repayments (49) (632) (97) (91)
Other borrowings       215
PIK note payment       (51,031)
Proceeds from senior secured notes       392,328
Stock options exercised 3 8 478 8
Debt issuance costs and other (327) (1,463) (443) (15,496)
Net cash (used in) financing activities (2,618) (2,087) (37,957) 19,933
Effect of exchange rate fluctuations on cash 354 (648) 734 (1,002)
Increase (Decrease) in cash 31,197 28,146 (31,949) (8,916)
Cash at beginning of period 13,112 18,027 76,258 55,089
Cash at end of period 44,309 46,173 44,309 46,173
Supplemental disclosure of cash flows information:        
Cash paid during the period for interest 1,139 1,123 21,310 6,140
Cash paid (refunded) during the period for income taxes 3,208 (232) 7,688 4,702
Floating rate note payments
       
Note payments       (306,000)
Senior note payments
       
Note payments     $ (40,000)