Rayonier advanced materials inc. (RYAM)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Operating Activities
Net income (loss)

-24,127

28,733

-14,216

-14,917

-22,050

12,635

37,937

53,389

24,455

295,077

15,672

4,573

9,642

11,486

21,567

19,340

20,893

12,758

32,291

-313

10,521

-23,262

19,408

4,562

30,947

Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent

708

-

-

-

5,937

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Adjustments to reconcile income (loss) from continuing operations to cash provided by operating activities:
Depreciation and amortization

37,842

41,580

39,339

36,633

35,723

40,254

35,170

33,791

36,742

32,762

21,386

20,965

21,533

24,241

22,530

19,426

22,077

23,796

22,951

20,690

21,752

23,492

23,933

17,533

20,649

Stock-based incentive compensation expense

2,000

1,000

3,000

-1,000

4,000

3,000

3,000

4,520

2,480

2,511

1,477

2,738

2,274

2,019

1,899

2,438

644

2,699

2,232

2,392

2,669

3,124

2,052

1,876

1,686

Amortization of capitalized debt costs and debt discount

-

-

-

-

-

-107

430

258

254

1,976

465

467

469

484

479

515

441

453

450

420

793

457

460

90

0

Deferred income tax expense (benefit)

17,381

-2,705

-2,701

-10,574

-9,572

-23,111

4,832

17,236

8,680

11,283

12,144

1,228

5,127

9,255

13,526

12,314

10,104

5,015

-8,669

-1,887

-4,216

-34,432

-4,350

5,914

-804

Net periodic benefit cost of pension and other postretirement plans

2,677

11,168

1,916

1,939

1,557

750

1,446

1,220

1,647

2,656

2,535

2,537

2,536

-

-

-

-

-

-

-

-

-

-

-

-

Increase in liabilities for disposed operations

-

-

-

-

-

-

-

-

-

-

-

-

-

2,389

272

891

1,746

6,881

0

49

0

-

-

-

-

Gain (Loss) on Extinguishment of Debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

8,844

0

0

0

0

-

-

-

-

Unrealized loss (gain) on derivative instruments

-6,792

-

-

-

4,489

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of losses and prior service costs from pension and postretirement plans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,062

3,061

3,019

3,675

3,676

3,744

3,607

3,451

3,112

1,242

1,308

Loss from sale/disposal of property, plant and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,798

-133

-255

-236

-263

-454

-265

-382

-1,135

-271

-185

-532

Unrealized loss (gain) from foreign currency

11,368

-2,394

1,734

202

-6,116

5,829

-1,184

3,505

4,020

2,335

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other

-275

3,301

-1,050

1,108

-27

1,928

-2,759

-993

-1,566

1,537

-2,851

789

-779

-1

2,143

44

1,243

-241

-46

-31

-80

177

0

-161

161

Changes in operating assets and liabilities:
Receivables

10,686

20,789

6,198

-18,742

-22,688

21,611

4,209

8,374

-2,662

-2,670

3,647

-11,359

12,956

-6,501

9,572

-23,442

-10,895

4,739

20,379

-8,239

-17,575

-23,115

27,216

-14,822

9,011

Inventories

24,924

-41,039

11,036

-48,608

26,264

-12,610

8,025

-29,269

55,433

12,448

-7,054

-7,970

3,227

-1,779

13,866

-7,026

-12,102

3,084

-2,469

-7,143

-8,272

18,068

437

-3,982

-3,020

Accounts payable

-1,518

9,192

-24,707

8,605

-19,115

35,049

-27,346

-11,350

33,809

2,374

-10,428

12,949

12,734

-7,109

-2,586

4,068

3,579

-8,230

-9,380

1,809

-3,988

6,191

-13,599

-4,131

7,174

Accrued liabilities

20,707

-11,422

15,969

-21,892

-2,689

-718

27,903

-17,182

-5,139

-10,303

11,093

3,204

-8,293

-9,181

11,504

5,909

-8,065

5,213

23,185

-9,583

-3,349

-12,102

17,019

5,606

2,354

All other operating activities

25,292

3,615

1,806

22,285

8,368

-35,327

-9,199

24,386

10,543

9,627

1,089

16,365

-8,243

-7,543

2,323

19,381

-9,823

-7,297

-17,908

27,073

-3,091

-16,368

-4,580

21,995

2,941

Contributions to pension and other postretirement plans

1,944

5,589

1,249

2,465

2,290

4,153

2,414

2,716

2,870

1,744

10,778

688

553

1,279

10,748

650

458

-

-

-

-

-

-

-

-

Expenditures for environmental liabilities

-

-

-

-

-

6,303

1,127

2,648

1,774

2,377

1,618

1,238

562

1,679

3,347

1,767

2,979

1,889

1,568

1,805

1,013

3,508

2,151

0

0

Cash Provided by (Used for) Operating Activities-continuing operations

-12,950

-

-

-

-30,732

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Provided by (Used for) Operating Activities-discontinued operations

204

-

-

-

3,858

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Provided by (Used for) Operating Activities

-12,746

17,846

5,762

45,170

-26,874

86,582

71,137

56,709

32,516

12,148

30,968

48,910

37,746

51,025

30,387

76,843

73,970

49,624

63,275

32,583

56,176

60,051

24,682

48,266

54,753

Investing Activities
Capital expenditures

12,582

22,001

20,909

29,145

30,752

38,692

26,473

34,619

29,002

30,880

11,706

18,832

13,537

30,245

20,036

18,032

20,390

17,767

18,314

16,803

24,540

14,577

9,494

29,005

21,715

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,528

968

990

-508

Cash Used for Investing Activities-continuing operations

-12,582

-

-

-

-30,752

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Used for Investing Activities-discontinued operations

0

-

-

-

-626

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Used for Investing Activities

-12,582

135,914

-23,515

-28,519

-31,378

-39,523

-12,822

-34,619

-29,002

-233,351

-11,706

-18,832

-13,537

-30,245

-20,036

-15,889

-20,390

-17,767

-18,314

-16,803

-24,540

-14,577

-12,005

-42,672

-21,207

Financing Activities
Borrowings on revolving credit and other facilities

7,592

2,531

2,627

48,000

38,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of revolving credit and other facilities

0

50,000

0

33,000

3,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of debt

1,786

104,402

4,367

3,222

2,340

11,129

21,773

10,707

1,661

725,560

2,167

66

2,165

4,200

20,000

2,099

44,732

25,000

15,000

17,100

20,000

2,100

77,100

0

0

Dividends paid on common stock

0

0

1

3,473

5,095

4,028

3,531

3,561

3,938

6,569

3,158

2,966

0

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid on preferred stock

0

0

3,450

3,450

3,450

3,450

3,450

3,450

3,450

3,450

3,450

3,450

3,450

3,641

0

0

0

-

-

-

-

-

-

-

-

Net payments to Rayonier

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

923,033

33,546

Proceeds from the issuance of common stock

-

-

-

-

-

-1

110

221

121

14

0

0

0

-

-

-

-

-

-

0

8

-

549

0

0

Common stock repurchased

438

1,048

4

16

5,810

24,996

3,255

11,479

3,050

4

6

6

141

-387

357

-51

81

-

-

0

0

-

-

-

-

Cash Provided by (Used for) Financing Activities-continuing operations

5,368

-

-

-

18,305

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Provided by (Used for) Financing Activities-discontinued operations

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Provided by (Used for) Financing Activities

5,368

-156,433

-5,195

4,839

18,305

-43,604

-31,899

-28,976

-11,978

-62,594

-8,781

-6,488

-5,756

-13,791

143,294

-5,003

-44,813

-30,909

-17,954

-20,053

-19,992

-7,660

-4,147

14,039

-33,546

Change in cash and cash equivalents

-19,960

-2,673

-22,948

21,490

-39,947

3,455

26,416

-6,886

-8,464

-283,797

10,481

23,590

18,453

6,989

153,645

55,951

8,767

948

27,007

-4,273

11,644

37,814

8,530

19,633

0

Net effect of foreign exchange on cash and cash equivalents

-1,393

3,936

-4,394

623

-1,028

-465

-249

-2,381

1,305

853

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Supplemental Disclosures of Cash Flows Information
Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,112

15,646

2,278

17,181

1,991

17,027

1,990

17,686

1,881

0

0

Income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

417

3,077

-736

7,531

11,037

13,406

-307

16,238

18,350

0

0

Non-cash investing and financing activities:
Capital assets purchased on account

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4,549

13,470

8,238

4,991

-4,102

4,661

11,170

8,702

-1,787

-5,668

15,390