| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash provided by (used in) operating activities: | ||||||
Net income (loss) | ||||||
183,700 | 181,800 | 145,200 | 44,400 | 84,300 | 132,600 | |
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities: | ||||||
Depreciation and amortization | ||||||
85,000 | 57,000 | 40,400 | 38,800 | 34,600 | 32,300 | |
Deferred income taxes | ||||||
14,800 | 900 | -25,700 | -7,900 | 8,300 | 2,200 | |
Disposal/impairment of assets | ||||||
-1,400 | -900 | -2,200 | -1,500 | -3,900 | -800 | |
Restructuring and other (income) charges, net | ||||||
2,200 | 100 | 3,700 | 41,200 | -7,500 | -5,600 | |
Share-based compensation | ||||||
12,300 | 12,500 | 10,100 | 4,700 | 0 | 0 | |
Pension and other postretirement benefit costs | ||||||
1,500 | 2,000 | 1,300 | 700 | 0 | 0 | |
Other non-cash items | ||||||
-10,100 | -15,900 | -7,300 | -4,800 | -800 | - | |
Changes in operating assets and liabilities, net of effect of acquisitions: | ||||||
Accounts receivable, net | ||||||
15,300 | 3,000 | 9,500 | -5,700 | -8,500 | 4,800 | |
Inventories, net | ||||||
-500 | 26,900 | 6,600 | 2,200 | 24,100 | 27,600 | |
Prepaid and other current assets | ||||||
-100 | 6,800 | -6,500 | 3,900 | 6,700 | 5,300 | |
Planned major maintenance outage | ||||||
8,400 | 7,000 | 6,100 | 5,900 | - | - | |
Accounts payable | ||||||
-6,200 | 5,700 | 1,700 | -1,500 | -22,300 | 6,900 | |
Accrued expenses | ||||||
-5,900 | 13,100 | 1,600 | -1,900 | 1,000 | 6,400 | |
Accrued payroll and employee benefits | ||||||
-14,400 | 3,000 | 13,400 | 15,000 | -7,800 | 0 | |
Income taxes | ||||||
14,700 | 5,000 | -7,300 | 4,500 | 800 | 0 | |
Pension contribution | ||||||
0 | -1,600 | -1,400 | -1,000 | 0 | 0 | |
Restructuring and other spending | ||||||
- | - | - | -8,300 | 0 | 0 | |
Changes in other operating assets and liabilities, net | ||||||
400 | 600 | 2,500 | 800 | 1,600 | -600 | |
Net cash provided by (used in) operating activities | ||||||
275,700 | 252,000 | 174,300 | 127,900 | 72,200 | 138,500 | |
Cash provided by (used in) investing activities: | ||||||
Capital expenditures | ||||||
114,800 | 93,900 | 52,600 | 56,700 | 100,900 | 101,800 | |
Payments for acquired businesses, net of cash acquired | ||||||
537,900 | 315,500 | 0 | - | - | - | |
Purchase of equity securities | ||||||
0 | 0 | 2,400 | 0 | 0 | - | |
Proceeds from disposition of assets | ||||||
- | - | - | 0 | 11,000 | 6,000 | |
Sale of equity securities | ||||||
0 | 1,100 | 1,000 | 0 | - | - | |
Restricted investment | ||||||
2,000 | 2,000 | 1,600 | 69,700 | 0 | 0 | |
Other investing activities, net | ||||||
3,600 | 4,100 | 3,000 | 0 | -600 | 1,000 | |
Net cash provided by (used in) investing activities | ||||||
-658,300 | -414,400 | -58,600 | -126,400 | -89,300 | -96,800 | |
Cash provided by (used in) financing activities: | ||||||
Net borrowings under our revolving credit facility | ||||||
797,700 | 0 | 156,400 | 111,900 | 0 | 0 | |
Proceeds from long-term borrowings | ||||||
375,000 | 300,000 | 75,000 | 300,000 | 0 | 0 | |
Payments on revolving credit facility | ||||||
666,400 | 0 | 268,300 | - | - | - | |
Payments on long-term borrowings | ||||||
122,500 | 0 | 0 | - | 5,800 | 0 | |
Debt issuance costs | ||||||
2,400 | 7,100 | 1,300 | 3,600 | 0 | 0 | |
Borrowings (repayments) of notes payable and other short-term borrowings, net | ||||||
2,100 | 3,900 | 0 | -9,400 | 7,100 | 2,800 | |
Tax payments related to withholdings on vested equity awards | ||||||
14,300 | 2,500 | 1,200 | 300 | 0 | 0 | |
Proceeds and withholdings from share-based compensation plans, net | ||||||
4,100 | 2,100 | 500 | 0 | 0 | - | |
Repurchases of common stock under publicly announced plan | ||||||
6,400 | 47,400 | 6,600 | 0 | 0 | - | |
Noncontrolling interest distributions | ||||||
0 | 80,000 | 0 | 0 | 3,400 | 3,100 | |
Payments of Distributions to Affiliates | ||||||
0 | 15,300 | 12,300 | 5,400 | - | - | |
Cash distributed to WestRock at separation | ||||||
- | - | - | 448,500 | 0 | 0 | |
Transactions with WestRock, net | ||||||
- | - | - | 51,900 | 29,100 | -31,400 | |
Other financing activities, net | ||||||
2,300 | 0 | 0 | 0 | - | - | |
Net cash provided by (used in) financing activities | ||||||
369,200 | 153,700 | -57,800 | -3,400 | 27,000 | -31,700 | |
Increase (decrease) in cash, cash equivalents, and restricted cash | ||||||
-13,400 | -8,700 | 57,900 | -1,900 | 9,900 | 10,000 | |
Effect of exchange rate changes on cash | ||||||
200 | -1,400 | -500 | 400 | 2,200 | -1,600 | |
Change in cash, cash equivalents, and restricted cash | ||||||
-13,200 | -10,100 | 57,400 | -1,500 | 12,100 | 8,400 | |
Supplemental cash flow information: | ||||||
Cash paid for interest, net of capitalized interest | ||||||
48,000 | 26,000 | 16,000 | 15,100 | 6,500 | 6,500 | |
Cash paid for income taxes, net of refunds | ||||||
14,900 | 34,800 | 61,900 | 22,400 | 1,400 | 0 | |
Purchases of property, plant and equipment in accounts payable | ||||||
7,600 | 8,900 | 5,100 | 3,700 | 1,300 | 15,600 | |
Leased assets obtained in exchange for new finance lease liabilities | ||||||
0 | 0 | 0 | - | - | - | |
Leased assets obtained in exchange for new operating lease liabilities | ||||||
5,300 | 0 | 0 | - | - | - | |