| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities: | ||||||||
Cash Flows from Operating Activities: | ||||||||
Net income | ||||||||
-97,000 | 30,000 | -272,000 | -60,000 | -317,000 | -417,000 | -90,000 | 1,133,000 | 242,000 |
Net income (loss) from discontinued operations, net of tax | ||||||||
5,000 | 0 | -179,000 | 79,000 | 55,000 | - | - | - | - |
Net (loss) income from continuing operations | ||||||||
-102,000 | 30,000 | -93,000 | -139,000 | -372,000 | - | - | - | - |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||||
Depreciation, depletion and amortization | ||||||||
280,000 | 195,000 | 182,000 | 177,000 | 253,000 | 295,000 | 333,000 | 211,000 | 79,000 |
Refers to the amount of income tax expense (benefit), attributable to corporate reorganization. | ||||||||
- | - | - | -107,000 | 0 | 0 | - | - | - |
Deferred income taxes | ||||||||
-9,000 | -21,000 | 2,000 | -9,000 | -1,000 | 237,000 | 33,000 | -162,000 | 4,000 |
Share-based compensation expense | ||||||||
32,000 | 21,000 | 31,000 | 24,000 | 22,000 | 20,000 | 18,000 | 32,000 | -14,000 |
Amortization of deferred debt issuance costs and discount on debt | ||||||||
8,000 | 11,000 | 15,000 | 11,000 | 11,000 | 10,000 | 9,000 | 10,000 | 1,000 |
Pension and postretirement healthcare benefit expense | ||||||||
- | - | - | - | 1,000 | -3,000 | 9,000 | 6,000 | 5,000 |
Net loss on liquidation of non-operating subsidiaries | ||||||||
- | - | - | - | - | -35,000 | 24,000 | 0 | - |
Loss on extinguishment of debt | ||||||||
-3,000 | -30,000 | -28,000 | 4,000 | 0 | -8,000 | -4,000 | 0 | - |
Contract loss | ||||||||
-19,000 | 0 | 0 | - | - | - | - | - | - |
Impairment loss | ||||||||
0 | 31,000 | 0 | 0 | - | - | - | - | - |
Acquired inventory step-up recognized in earnings | ||||||||
98,000 | 0 | 0 | - | - | - | - | - | - |
Amortization of fair value inventory step-up | ||||||||
- | - | - | - | - | 0 | -32,000 | 152,000 | - |
Gain on bargain purchase | ||||||||
- | - | - | - | - | - | - | 1,055,000 | 0 |
Other non-cash items affecting net (loss) income | ||||||||
-25,000 | 9,000 | -34,000 | -43,000 | 3,000 | -1,000 | 15,000 | -48,000 | 7,000 |
Noncash reorganization items | ||||||||
- | - | - | - | - | - | - | - | 0 |
Cash paid for reorganization items | ||||||||
- | - | - | - | - | - | - | - | 0 |
Environmental and tort settlement funding | ||||||||
- | - | - | - | - | - | - | - | 0 |
Contributions to employee pension and postretirement plans | ||||||||
- | - | - | - | 15,000 | 18,000 | 6,000 | 31,000 | 8,000 |
Changes in assets and liabilities: | ||||||||
(Increase) decrease in accounts receivable, net | ||||||||
-78,000 | 11,000 | 50,000 | 25,000 | -10,000 | -23,000 | -58,000 | -88,000 | 58,000 |
Increase in inventories, net | ||||||||
59,000 | 47,000 | -57,000 | -106,000 | -154,000 | 101,000 | -75,000 | 220,000 | 64,000 |
Increase in prepaid and other assets | ||||||||
-20,000 | -4,000 | 20,000 | 3,000 | -3,000 | -9,000 | 15,000 | -10,000 | -28,000 |
(Decrease) increase in accounts payable and accrued liabilities | ||||||||
67,000 | -51,000 | 7,000 | 16,000 | 0 | 22,000 | -16,000 | -113,000 | -28,000 |
Net changes in income tax payables and receivables | ||||||||
-13,000 | 10,000 | -7,000 | 3,000 | 4,000 | 20,000 | -25,000 | 9,000 | 26,000 |
Changes in other non-current assets and liabilities | ||||||||
35,000 | 23,000 | 21,000 | 9,000 | - | - | - | - | - |
Other, net | ||||||||
- | - | - | - | - | - | -14,000 | -6,000 | -29,000 |
Cash provided by operating activities – continuing operations | ||||||||
412,000 | 170,000 | 165,000 | 84,000 | 67,000 | 141,000 | 330,000 | 124,000 | 263,000 |
Cash Flows from Investing Activities: | ||||||||
Capital expenditures | ||||||||
198,000 | 117,000 | 91,000 | 86,000 | 165,000 | 187,000 | 165,000 | 166,000 | 133,000 |
Acquisition of business | ||||||||
- | - | - | - | 1,650,000 | 0 | 0 | - | - |
Cristal Acquisition | ||||||||
1,675,000 | 0 | 0 | - | - | - | - | - | - |
Insurance proceeds | ||||||||
10,000 | 0 | 0 | - | - | - | - | - | - |
Debt proceeds restricted for Cristal acquisition | ||||||||
- | - | - | - | 0 | - | - | - | - |
Proceeds from sale of Ashtabula | ||||||||
- | - | - | 0 | 0 | - | - | - | - |
Loans | ||||||||
25,000 | 64,000 | 0 | 0 | - | - | - | - | - |
Proceeds from the sale of assets | ||||||||
2,000 | 1,000 | 0 | 2,000 | 1,000 | 0 | 1,000 | 0 | 1,000 |
Net cash received in acquisition of minerals sands business | ||||||||
- | - | - | - | - | - | - | 114,000 | 0 |
Cash (used in) provided by investing activities – continuing operations | ||||||||
-1,185,000 | -174,000 | 1,234,000 | -84,000 | -1,814,000 | -187,000 | -164,000 | -52,000 | -132,000 |
Cash Flows from Financing Activities: | ||||||||
Repayments of short-term debt | ||||||||
0 | 0 | 150,000 | 0 | 0 | - | - | - | - |
Repayments of long-term debt | ||||||||
387,000 | 606,000 | 2,342,000 | 31,000 | 18,000 | 20,000 | 189,000 | 585,000 | 45,000 |
Proceeds from long-term debt | ||||||||
222,000 | 615,000 | 2,589,000 | 0 | 750,000 | 0 | 945,000 | 1,707,000 | 14,000 |
Merger consideration | ||||||||
- | - | - | - | - | - | - | 193,000 | 0 |
Repurchase of common stock | ||||||||
288,000 | 0 | 0 | - | - | - | - | 326,000 | 0 |
Acquisition of noncontrolling interest | ||||||||
148,000 | 0 | 0 | - | - | - | - | - | - |
Debt issuance costs | ||||||||
4,000 | 10,000 | 37,000 | 0 | 15,000 | 2,000 | 29,000 | 38,000 | 5,000 |
Proceeds from the exercise of warrants | ||||||||
- | - | - | - | - | - | - | 1,000 | - |
Call premium paid | ||||||||
0 | 22,000 | 14,000 | 0 | 0 | - | - | - | - |
Dividends paid | ||||||||
27,000 | 23,000 | 23,000 | 46,000 | 117,000 | 116,000 | 115,000 | 61,000 | 0 |
Restricted stock and performance-based shares settled in cash for withholding taxes | ||||||||
6,000 | 6,000 | 12,000 | 1,000 | 1,000 | - | - | - | - |
Proceeds from the exercise of warrants and options | ||||||||
0 | 6,000 | 13,000 | 0 | 3,000 | 6,000 | 2,000 | - | 1,000 |
Proceeds from rights offering | ||||||||
- | - | - | - | - | - | - | - | 0 |
Cash provided by financing activities | ||||||||
-638,000 | -46,000 | 24,000 | -78,000 | 602,000 | -132,000 | 614,000 | 490,000 | -35,000 |
Class A ordinary shares purchased for the Employee Participation Plan | ||||||||
- | - | - | - | - | - | - | 15,000 | 0 |
Discontinued Operations: | ||||||||
Cash provided by operating activities | ||||||||
29,000 | 0 | 107,000 | 126,000 | 150,000 | - | - | - | - |
Cash used in investing activities | ||||||||
-1,000 | 0 | -25,000 | -33,000 | -26,000 | - | - | - | - |
Net cash flows provided by discontinued operations | ||||||||
28,000 | 0 | 82,000 | 93,000 | 124,000 | - | - | - | - |
Effects of exchange rate changes on cash and cash equivalents and restricted cash | ||||||||
-2,000 | -23,000 | 13,000 | 2,000 | -26,000 | -21,000 | -18,000 | 0 | -3,000 |
Net increase in cash, cash equivalents and restricted cash | ||||||||
-1,385,000 | -73,000 | 1,518,000 | 17,000 | -1,047,000 | -199,000 | 762,000 | 562,000 | 93,000 |
Supplemental cash flow information: | ||||||||
Interest paid, net | ||||||||
188,000 | 184,000 | 186,000 | 171,000 | 152,000 | 126,000 | 123,000 | 34,000 | 29,000 |
Income taxes paid | ||||||||
34,000 | 28,000 | 10,000 | 2,000 | 23,000 | 3,000 | 25,000 | 26,000 | 8,000 |
Cristal's North American TiO2 Business | ||||||||
Proceeds from sale of businesses | ||||||||
701,000 | 0 | 0 | - | - | - | - | - | - |
Other Disposals | ||||||||
Proceeds from sale of businesses | ||||||||
0 | 6,000 | 1,325,000 | - | - | - | - | - | - |