| 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 loss | ||||||||||
-69,019 | -7,956 | -93,368 | 10,073 | 66,333 | 4,963 | 28,459 | 6,966 | 23,641 | 70,086 | -28,788 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
39,046 | 44,333 | 45,544 | 48,486 | 42,712 | 40,388 | 43,969 | 41,471 | 42,188 | 41,115 | 43,166 |
Asset impairments (note 4) | ||||||||||
65,152 | - | - | - | - | - | - | - | - | - | - |
Goodwill, Impairment Loss | ||||||||||
- | - | 79,700 | 0 | 0 | - | - | - | - | - | - |
Loss on asset sales and disposals | ||||||||||
- | - | - | -287 | -567 | -674 | -514 | -446 | 5,941 | -3,039 | -323 |
Change in accounts receivable | ||||||||||
-2,336 | -5,203 | 2,698 | -8,660 | 6,312 | 1,808 | 12,674 | -7,187 | -3,076 | 11,210 | 6,430 |
Change in inventories | ||||||||||
-16,545 | 6,424 | 13,443 | -5,979 | 12,006 | 10,828 | 3,932 | 10,969 | 221 | 6,654 | -40,834 |
Change in accounts payable | ||||||||||
9,202 | -4,759 | 5,574 | -481 | -3,466 | 5,088 | 12,190 | 6,285 | 403 | 4,955 | 3,828 |
Accrued interest and amortization of discounts and finance fees | ||||||||||
1,173 | 1,158 | 1,318 | -1,086 | 1,291 | 2,039 | 1,496 | -6,433 | - | - | - |
Call premium on senior notes | ||||||||||
- | - | - | - | - | -37,348 | -1,350 | -23,602 | - | - | - |
Call premium on senior notes | ||||||||||
- | - | - | - | - | - | - | - | -1,203 | -8,415 | 0 |
Write-off of finance fees on senior notes | ||||||||||
- | - | - | - | - | 9,086 | 1,168 | 10,975 | 1,600 | 4,986 | 0 |
Accrued interest and amortization of discounts and finance fees | ||||||||||
- | - | - | - | - | - | - | - | 3,047 | 17,391 | 12,945 |
Gain on redemption of PIK notes | ||||||||||
- | - | - | - | - | - | - | - | - | 71,693 | 0 |
Payment of interest on PIK notes | ||||||||||
- | - | - | - | - | - | - | - | - | -29,400 | 0 |
Pension & non-pension post-retirement benefits, net | ||||||||||
-376 | -283 | 1,680 | -2,513 | 18,865 | -879 | 7,746 | -76,344 | -9,074 | 5,200 | 5,331 |
Accrued liabilities & prepaid expenses | ||||||||||
4,350 | 267 | - | - | - | - | - | - | - | - | - |
Restructuring | ||||||||||
- | - | - | - | - | -289 | 2,212 | 0 | -828 | 811 | -1,728 |
Accrued liabilities & prepaid expenses | ||||||||||
- | - | 2,737 | 4,032 | 4,140 | -7,222 | -17,507 | 322 | 1,917 | 3,344 | 14,920 |
Accrual of interest on old PIK notes | ||||||||||
- | - | - | - | - | - | - | - | - | - | 11,916 |
Income taxes | ||||||||||
-5,062 | 3,591 | 13,121 | 6,296 | -45,003 | 885 | -1,804 | 1,628 | -11,200 | 1,801 | -93 |
Cloud computing costs | ||||||||||
-4,188 | - | - | - | - | - | - | - | - | - | - |
Share-based compensation expense | ||||||||||
3,231 | 2,827 | 3,460 | 4,766 | 5,917 | 5,283 | 5,063 | 3,321 | 5,016 | 3,496 | 2,419 |
Excess tax benefit from share-based compensation, operating | ||||||||||
- | - | - | - | - | 0 | - | - | - | - | - |
Excess tax benefit from share-based compensation, operating | ||||||||||
- | - | - | - | - | - | 0 | - | - | - | - |
Other operating activities | ||||||||||
-1,042 | 1,087 | -1,683 | 595 | 3,346 | 2,857 | -4,479 | -40 | -524 | -2,017 | -3,505 |
Net cash provided by operating activities | ||||||||||
63,432 | 36,870 | 45,308 | 83,904 | 69,692 | 81,871 | 72,729 | 8,497 | 55,351 | 47,699 | 102,148 |
Investing activities: | ||||||||||
Cash paid for property, plant and equipment | ||||||||||
31,159 | 45,087 | 47,628 | 34,604 | 48,136 | 54,393 | 49,407 | 32,720 | 41,420 | 28,247 | 17,005 |
Proceeds from furnace malfunction insurance recovery | ||||||||||
- | - | - | - | - | 2,350 | 0 | 0 | - | - | - |
Net proceeds from sale of Traex | ||||||||||
- | - | - | - | - | - | - | - | 12,478 | 0 | 0 |
Proceeds from asset sales and other | ||||||||||
- | - | - | 0 | 7 | 24 | 81 | 647 | 5,222 | 0 | 265 |
Net cash used in investing activities | ||||||||||
-31,159 | -45,087 | -47,628 | -34,604 | -48,129 | -52,019 | -49,326 | -32,073 | -23,720 | -28,247 | -16,740 |
Financing activities: | ||||||||||
Borrowings on ABL credit facility | ||||||||||
93,171 | 129,769 | 34,086 | 6,000 | 62,900 | 83,000 | 51,000 | 0 | 50,089 | - | - |
Repayments on ABL credit facility | ||||||||||
95,601 | 109,901 | 34,086 | 6,000 | 62,900 | 83,000 | 51,000 | 0 | 50,089 | - | - |
Net borrowings (repayments) on ABL credit facility | ||||||||||
- | - | - | - | - | - | - | - | - | - | -34,169 |
Other repayments | ||||||||||
- | 3,077 | 632 | 350 | 3,267 | 5,863 | 14,270 | 23,116 | 14,108 | 10,610 | 5,225 |
Other borrowings | ||||||||||
- | - | - | 339 | 0 | 5,214 | 6,094 | 1,234 | 365 | 215 | 0 |
Payments on 6.875% senior notes | ||||||||||
- | - | - | - | - | -405,000 | -45,000 | 450,000 | 0 | - | - |
Payments on 6.875% senior notes | ||||||||||
- | - | - | - | - | - | - | 360,000 | - | - | - |
Proceeds from Term Loan B | ||||||||||
- | - | - | - | - | 438,900 | 0 | 0 | - | - | 0 |
Floating rate note payments | ||||||||||
- | - | - | - | - | - | - | - | - | - | 0 |
Repayments on Term Loan B | ||||||||||
4,400 | 4,400 | 24,400 | 24,400 | 4,400 | 2,200 | 0 | 0 | 40,000 | - | 0 |
PIK note payment | ||||||||||
- | - | - | - | - | - | - | - | - | 51,031 | 0 |
Call premium on senior notes | ||||||||||
- | - | - | - | - | 37,348 | 1,350 | 23,602 | 1,203 | 8,415 | 0 |
Proceeds from exercise of warrants | ||||||||||
- | - | - | - | - | - | - | - | 5,459 | 0 | 0 |
Stock options exercised | ||||||||||
- | 5 | 466 | 1,400 | 3,338 | 4,571 | 5,384 | 1,231 | 482 | 57 | 0 |
Taxes paid on distribution of equity awards | ||||||||||
420 | 336 | 627 | 895 | 796 | - | - | - | - | - | - |
Excess tax benefit from share-based compensation, financing | ||||||||||
- | - | - | - | - | 0 | - | - | - | - | - |
Excess tax benefit from share-based compensation arrangements, financing | ||||||||||
- | - | - | - | - | - | 0 | - | - | - | - |
Debt issuance costs and other | ||||||||||
- | - | - | - | - | 6,959 | 0 | 13,475 | 463 | 14,256 | 4,171 |
Dividends | ||||||||||
- | 2,595 | 10,355 | 10,070 | 9,597 | 0 | 0 | - | - | - | - |
Debt refinancing costs | ||||||||||
755 | - | - | - | - | - | - | - | - | - | - |
Treasury shares purchased | ||||||||||
- | - | - | 2,000 | 15,275 | 1,060 | 0 | 0 | - | - | - |
Other financing activities | ||||||||||
- | - | 334 | 0 | 0 | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||
-8,005 | 9,465 | -35,214 | -35,976 | -29,997 | -9,745 | -49,142 | 32,272 | -49,468 | 2,288 | -43,565 |
Effect of exchange rate fluctuations on cash | ||||||||||
-416 | -878 | 1,219 | -1,357 | -2,566 | -2,271 | 739 | 221 | -130 | -571 | -58 |
Increase in cash | ||||||||||
23,852 | 370 | -36,315 | 11,967 | -11,000 | 17,836 | -25,000 | 8,917 | -17,967 | 21,169 | 41,785 |
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid during the year for interest, net of capitalized interest | ||||||||||
20,738 | 20,091 | 18,638 | 21,553 | 16,545 | 20,302 | 30,008 | 44,105 | - | - | - |
Cash paid during the year for income taxes | ||||||||||
11,887 | 8,514 | 3,371 | 7,559 | 5,516 | 7,228 | - | - | - | - | 3,133 |
Cash paid during the period for interest | ||||||||||
- | - | - | - | - | - | - | - | 40,025 | 27,822 | 39,221 |
Cash paid during the period for income taxes | ||||||||||
- | - | - | - | - | - | 10,855 | 3,402 | 10,230 | 8,830 | - |