| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net income | ||||||||||
-21,541 | -177,604 | 7,914 | 21,554 | 64,575 | 69,246 | 67,158 | 59,379 | 42,694 | 54,434 | 123,442 |
Income from discontinued operations, net of taxes | ||||||||||
3,670 | -177,156 | 13,526 | 35,731 | - | - | - | - | - | - | - |
Adjustments to reconcile to net cash provided (used) by continuing operations: | ||||||||||
Depreciation, depletion and amortization | ||||||||||
50,800 | 47,500 | 42,100 | 39,287 | 63,236 | 70,555 | 68,196 | 69,500 | 69,313 | 65,839 | 61,256 |
Amortization of debt issue costs and original issue discount | ||||||||||
1,672 | 1,159 | 1,157 | 1,153 | 1,184 | 1,315 | 1,305 | 3,177 | 8,838 | 2,758 | 1,690 |
Pension settlement charge | ||||||||||
-75,326 | - | - | - | - | - | - | - | - | - | - |
Pension expense, net of unfunded benefits paid | ||||||||||
- | - | - | - | 7,383 | 5,173 | 12,787 | 10,427 | 2,127 | 8,637 | 6,343 |
Charge for impairment of intangible asset | ||||||||||
- | - | - | - | 1,200 | 3,262 | - | - | - | - | - |
Deferred income tax benefit | ||||||||||
-22,971 | -7,704 | 12,003 | -38,160 | -1,902 | -9,419 | -11,485 | -2,209 | 333 | -16,815 | -22,981 |
Gains on dispositions of plant, equipment and timberlands, net | ||||||||||
2,100 | 3,300 | 200 | -116 | 21,113 | 4,861 | 1,726 | 9,815 | 3,950 | 453 | 898 |
Share-based compensation | ||||||||||
3,583 | 6,288 | 5,494 | 5,482 | 7,244 | 7,859 | 7,337 | 6,520 | 5,762 | 5,767 | 4,599 |
Change in operating assets and liabilities | ||||||||||
Accounts receivable | ||||||||||
5,473 | 621 | 4,148 | 2,155 | 13,312 | 5,404 | 777 | 3,379 | -3,771 | 598 | -16,542 |
Inventories | ||||||||||
17,387 | 32,138 | -1,522 | 4,992 | 8,054 | 21,456 | -2,704 | 12,615 | 7,280 | 7,592 | -28,207 |
Prepaid and other current assets | ||||||||||
2,833 | 3,372 | 910 | 1,272 | -5,506 | 3,521 | -7,965 | 14,952 | -2,115 | 13,318 | -1,451 |
Accounts payable | ||||||||||
10,337 | 13,774 | 20,361 | -544 | 26,042 | -4,175 | 24,822 | 6,953 | 13,606 | 21,064 | 2,390 |
Environmental liabilities | ||||||||||
- | - | - | - | - | - | - | - | 57 | 29 | 7,728 |
Accruals and other current liabilities | ||||||||||
-19,536 | -23,984 | -16,690 | 40,245 | -2,186 | -12,802 | 3,140 | 8,406 | -2,516 | -1,490 | 6,676 |
Pension assets received | ||||||||||
-53,401 | - | - | - | - | - | - | - | - | - | - |
Cellulosic biofuel and alternative fuel mixture credits | ||||||||||
- | - | - | - | - | - | - | - | 17,833 | 54,880 | -57,946 |
Other | ||||||||||
-3,167 | 3,175 | 1,824 | -6,095 | -3,940 | -3,805 | 7,791 | 8,546 | 12,282 | 5,079 | -825 |
Net cash (used) provided by operating activities from continuing operations | ||||||||||
102,835 | -5,952 | 53,234 | 31,078 | 133,743 | 99,577 | 173,635 | 112,846 | 140,307 | 168,005 | 163,868 |
Investing activities | ||||||||||
Expenditures for purchases of plant, equipment and timberlands | ||||||||||
27,765 | 42,129 | 80,783 | 61,162 | 99,889 | 66,046 | 103,047 | 58,752 | 64,491 | 36,491 | 26,257 |
Proceeds from disposals of plant, equipment and timberlands, net | ||||||||||
2,198 | 3,462 | 218 | 29 | 24,459 | 5,072 | 1,947 | 10,272 | 4,491 | 564 | 951 |
Proceeds from timberland installment sale note receivable | ||||||||||
- | - | - | - | - | - | - | - | 43,170 | - | 37,850 |
Acquisition, net of cash acquired | ||||||||||
1,383 | 178,905 | - | - | 224 | 8,015 | 210,911 | - | - | 228,290 | - |
Other | ||||||||||
163 | 68 | 243 | 800 | 1,600 | 600 | 425 | 225 | - | - | - |
Net cash used by investing activities from continuing operations | ||||||||||
-27,113 | -217,640 | -80,808 | -61,933 | -77,254 | -69,589 | -312,436 | -48,705 | -16,830 | -264,217 | 12,544 |
Financing activities | ||||||||||
Net (repayments) borrowings under revolving credit facility | ||||||||||
-28,062 | -55,446 | 109,436 | 2,891 | -22,294 | -30,720 | 126,139 | -27,000 | 27,000 | - | -6,725 |
Repayment of 5.375% Notes | ||||||||||
-250,000 | - | - | - | - | - | - | - | - | - | - |
Repayment of term loans | ||||||||||
- | - | - | - | - | - | - | - | 36,695 | 14,000 | - |
Repayment of short term debt | ||||||||||
- | - | - | - | - | - | - | - | 798 | 3,208 | - |
Proceeds from term loans | ||||||||||
248,644 | - | - | 19,428 | 2,873 | 12,592 | 56,091 | - | - | - | - |
Payments of borrowing costs | ||||||||||
2,204 | - | - | 136 | 1,329 | - | 419 | 4,748 | 1,672 | 5,340 | - |
Proceeds from note offerings | ||||||||||
- | - | - | - | - | - | - | 250,000 | - | 95,000 | - |
Repayment of term loans | ||||||||||
16,660 | 11,069 | 9,771 | 8,205 | 5,229 | - | - | 205,131 | 103,563 | - | - |
Repayments of $100 million term loan facility | ||||||||||
- | - | - | - | - | - | - | - | - | - | 16,000 |
Net repayments of other short term debt | ||||||||||
- | - | - | - | - | - | - | - | - | - | -2,008 |
Repayment of Term Loan due March 2013 | ||||||||||
- | - | - | - | - | - | - | - | - | - | 34,000 |
Repurchases of common stock | ||||||||||
- | - | - | - | - | 12,180 | - | 5,675 | 48,033 | - | - |
Payments of dividends | ||||||||||
22,936 | 22,760 | 22,480 | 21,589 | 20,443 | 18,696 | 16,965 | 15,608 | 16,611 | 16,746 | 16,596 |
Proceeds from government grants | ||||||||||
- | - | - | 2,000 | 421 | - | - | - | - | - | - |
Payments related to share-based compensation awards and other | ||||||||||
-1,556 | -2,151 | -472 | -990 | -2,015 | -1,877 | -1,671 | 2,673 | 232 | -3,975 | - |
Net cash provided by financing activities from continuing operations | ||||||||||
-72,774 | -91,426 | 76,713 | -6,601 | -48,016 | -50,881 | 163,175 | -5,489 | -180,140 | 59,681 | -75,329 |
Effect of exchange rate changes on cash | ||||||||||
-269 | -5,564 | 7,244 | -2,063 | -3,006 | -2,152 | 829 | 750 | -848 | -3,101 | 2,103 |
Net decrease in cash, cash equivalents and restricted cash | ||||||||||
2,679 | -320,582 | 56,383 | -39,519 | 5,467 | -23,045 | 25,203 | 59,402 | -57,511 | -39,632 | 103,186 |
Change in cash and cash equivalents from discontinued operations | ||||||||||
-19,163 | 347,048 | 4,392 | -10,341 | - | - | - | - | - | - | - |
Supplemental cash flow information | ||||||||||
Interest | ||||||||||
10,208 | 15,760 | 13,934 | 13,235 | 16,256 | 17,643 | 17,231 | 14,400 | 24,191 | 23,193 | 17,338 |
Income taxes, net | ||||||||||
14,242 | 15,171 | 9,336 | 14,020 | 15,849 | 24,139 | 15,588 | 44,657 | -8,344 | -40,265 | 16,634 |