| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net (loss) income including noncontrolling interest | ||||||||
-47,000 | 235,000 | -78,000 | -76,000 | -255,000 | -274,000 | -639,000 | -33,000 | 45,000 |
Adjustments to reconcile net (loss) income including noncontrolling interest to net cash (used in) provided by operating activities: | ||||||||
Share-based compensation | ||||||||
4,000 | 12,000 | 15,000 | 11,000 | 12,000 | 6,000 | 7,000 | 5,000 | 3,000 |
Depreciation and amortization | ||||||||
167,000 | 212,000 | 204,000 | 206,000 | 237,000 | 243,000 | 243,000 | 233,000 | 220,000 |
Closure costs, impairment and other related charges | ||||||||
8,000 | 120,000 | 66,000 | 59,000 | 176,000 | 263,000 | 80,000 | 166,000 | 41,000 |
Inventory write-downs related to closures | ||||||||
13,000 | -1,000 | 24,000 | 7,000 | 2,000 | 17,000 | 11,000 | 12,000 | 3,000 |
Deferred income taxes | ||||||||
58,000 | 164,000 | 80,000 | 14,000 | 3,000 | -36,000 | 523,000 | -36,000 | 15,000 |
Net pension contributions and other postretirement benefit payments | ||||||||
125,000 | 144,000 | 109,000 | 125,000 | 62,000 | 157,000 | 117,000 | 95,000 | 175,000 |
Net gain on disposition of assets | ||||||||
2,000 | 145,000 | 15,000 | 2,000 | 0 | 2,000 | 2,000 | 35,000 | 3,000 |
Loss (gain) on translation of foreign currency denominated deferred income taxes | ||||||||
42,000 | -75,000 | 71,000 | 28,000 | -199,000 | -107,000 | -93,000 | 37,000 | -25,000 |
(Gain) loss on translation of foreign currency denominated pension and other postretirement benefit obligations | ||||||||
-43,000 | 63,000 | -58,000 | -27,000 | 184,000 | 82,000 | 88,000 | -30,000 | 15,000 |
Gain on disposition of equity method investment | ||||||||
- | - | - | 5,000 | 0 | 0 | - | - | - |
Net planned major maintenance amortization (payments) | ||||||||
-13,000 | 20,000 | -3,000 | 3,000 | 3,000 | 0 | - | - | 9,000 |
Gain on forgiveness of note payable | ||||||||
- | - | - | - | - | - | 12,000 | 0 | 0 |
Net loss on extinguishment of debt | ||||||||
- | - | - | - | - | - | -59,000 | 0 | 0 |
Write-down of equity method investment | ||||||||
- | - | - | - | - | 61,000 | 0 | 0 | - |
Premium related to debt redemption | ||||||||
- | - | - | - | - | - | - | 5,000 | 16,000 |
Dividends received from equity method investees in excess of income | ||||||||
- | - | - | - | - | - | - | 2,000 | 9,000 |
Leasehold improvement incentive received from lessor | ||||||||
- | - | - | - | - | - | - | 5,000 | 0 |
Changes in working capital: | ||||||||
Accounts receivable | ||||||||
-88,000 | 19,000 | 37,000 | -26,000 | -87,000 | -106,000 | -62,000 | -91,000 | -87,000 |
Inventories | ||||||||
27,000 | 46,000 | -23,000 | 37,000 | -10,000 | 31,000 | -16,000 | 21,000 | 39,000 |
Other current assets | ||||||||
0 | -1,000 | -1,000 | -7,000 | 4,000 | 3,000 | -10,000 | -5,000 | -31,000 |
Accounts payable and accrued liabilities | ||||||||
-82,000 | 38,000 | -17,000 | -3,000 | -85,000 | -44,000 | -37,000 | -11,000 | -28,000 |
Other, net | ||||||||
16,000 | 16,000 | 11,000 | 3,000 | 5,000 | 12,000 | -3,000 | -10,000 | 4,000 |
Net cash (used in) provided by operating activities | ||||||||
85,000 | 435,000 | 158,000 | 81,000 | 138,000 | 186,000 | 206,000 | 266,000 | 198,000 |
Cash flows from investing activities: | ||||||||
Cash invested in fixed assets | ||||||||
113,000 | 155,000 | 164,000 | 249,000 | 185,000 | 193,000 | 161,000 | 169,000 | 97,000 |
Acquisition of business, net of cash acquired | ||||||||
- | - | - | - | 159,000 | 0 | 0 | 24,000 | 0 |
Acquisition of a sawmill in Senneterre (Quebec) | ||||||||
- | - | - | 6,000 | 0 | 0 | - | - | - |
Disposition of assets | ||||||||
3,000 | 336,000 | 21,000 | 5,000 | 0 | 10,000 | 4,000 | 36,000 | 19,000 |
Monetization of timber notes | ||||||||
- | - | - | - | - | 22,000 | 0 | 0 | - |
Disposition of investment in ACH Limited Partnership | ||||||||
- | - | - | - | - | - | - | - | 296,000 |
Disposition of our interest in our Mersey operations, net of cash | ||||||||
- | - | - | - | - | - | - | 14,000 | 0 |
Decrease in countervailing duty cash deposits on supercalendered paper | ||||||||
1,000 | 48,000 | -22,000 | -23,000 | -4,000 | 0 | 0 | - | - |
Increase in countervailing and anti-dumping duty cash deposits on softwood lumber | ||||||||
-59,000 | -77,000 | -26,000 | 0 | 0 | - | - | - | - |
Decrease in countervailing duty cash deposits on uncoated groundwood paper | ||||||||
6,000 | -6,000 | 0 | 0 | - | - | - | - | - |
Proceeds from holdback related to disposition of investment in Manicouagan Power Company ( MPCo ) | ||||||||
- | - | - | - | - | - | - | - | 29,000 |
Proceeds from insurance settlements | ||||||||
- | - | - | - | - | - | 4,000 | 0 | 8,000 |
Increase in restricted cash, net | ||||||||
- | - | - | - | 0 | - | -8,000 | -76,000 | 2,000 |
Decrease (increase) in deposit requirements for letters of credit, net | ||||||||
- | - | - | - | 4,000 | -1,000 | 2,000 | 12,000 | 8,000 |
Other investing activities, net | ||||||||
- | - | - | - | - | 1,000 | 4,000 | -4,000 | 0 |
Net cash provided by (used in) investing activities | ||||||||
-162,000 | 146,000 | -191,000 | -273,000 | -352,000 | -161,000 | -151,000 | -75,000 | 245,000 |
Cash flows from financing activities: | ||||||||
Net borrowings under revolving credit facilities | ||||||||
71,000 | -144,000 | 19,000 | 125,000 | 0 | 0 | - | - | - |
Payment of special dividend | ||||||||
0 | 136,000 | 0 | 0 | - | - | - | - | - |
Dividend to noncontrolling interest | ||||||||
- | - | - | - | - | 4,000 | 2,000 | 5,000 | 21,000 |
Payments to Acquire Additional Interest in Subsidiaries | ||||||||
0 | 0 | 15,000 | 0 | 0 | - | - | 27,000 | 15,000 |
Proceeds from long-term debt | ||||||||
- | - | - | 46,000 | 0 | 0 | 594,000 | 0 | 0 |
Premium paid on extinguishment of debt | ||||||||
- | - | - | - | - | - | 84,000 | 0 | 0 |
Repayments of debt | ||||||||
271,000 | 0 | 1,000 | 1,000 | 0 | 2,000 | 503,000 | 198,000 | 354,000 |
Purchases of treasury stock | ||||||||
24,000 | 0 | 0 | - | 59,000 | 0 | 0 | 67,000 | 0 |
Payments of financing and credit facility fees | ||||||||
4,000 | 1,000 | 0 | 1,000 | 3,000 | 1,000 | 9,000 | 0 | 3,000 |
Contribution of capital from noncontrolling interest | ||||||||
- | - | - | - | - | - | 8,000 | 0 | 0 |
Net cash provided by (used in) financing activities | ||||||||
-228,000 | -281,000 | 3,000 | 169,000 | -62,000 | -7,000 | 4,000 | -297,000 | -393,000 |
Effect of exchange rate changes on cash and cash equivalents, and restricted cash | ||||||||
2,000 | -4,000 | 6,000 | 1,000 | -3,000 | -3,000 | 0 | 0 | - |
Net increase (decrease) in cash and cash equivalents, and restricted cash | ||||||||
-303,000 | 296,000 | -24,000 | -22,000 | -279,000 | 15,000 | 59,000 | -106,000 | 50,000 |
Supplemental disclosures of cash flow information: | ||||||||
Interest | ||||||||
26,000 | 40,000 | 47,000 | 40,000 | 40,000 | 42,000 | 54,000 | 68,000 | 105,000 |
Income taxes | ||||||||
-11,000 | -1,000 | 7,000 | 3,000 | 3,000 | -1,000 | 2,000 | 0 | -6,000 |