XML 16 R55.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidating Statements of Cash Flows (Details) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash provided by (used for) operations    
Net income (loss) $ 64,268 $ 107,108 [1]
Items in net income (loss) not using (providing) cash    
Equity in net income of affiliates 0 0
Depreciation and amortization, including deferred financing costs and other 39,223 27,573
Stock-based compensation 4,186 1,862
Pension expense 597 8,104
Deferred income taxes 1,913 (65,095)
Other (1,609) (628)
Decrease (increase) in working capital, net of acquisitions    
Receivables (61,002) (63,987)
Inventories (15,512) (36,440)
Prepaid expenses and other (1,695) (1,624)
Accounts payable and accrued liabilities 62,003 50,011
Pension contributions (11,675) (10,352)
Income taxes payable 14,883 2,218
Other (7,482) (862)
Net cash provided by (used for) operations 88,098 17,888
Cash provided by (used for) investment    
Expenditures for property and equipment (40,860) (29,935)
Acquisitions of businesses and facilities 0 (102,002)
Proceeds from sales of assets 4,726 1,536
Other 41 9
Net cash provided by (used for) investment (36,093) (130,392)
Cash provided by (used for) financing    
Net proceeds from issuance of common stock 0 262,488
Treasury stock purchased 0 (100,000)
Issuances of long-term debt, including revolving credit facility 57,600 130,000
Payments of long-term debt, including revolving credit facility (57,600) (80,000)
Financing costs (11) (1,854)
Other (269) 193
Due to (from) affiliates 0 0
Net cash provided by (used for) financing (280) 210,827
Net increase (decrease) in cash and cash equivalents 51,725 98,323
Balance at beginning of the period 118,249 45,893
Balance at end of the period 169,974 144,216
Boise Cascade Company (Parent) [Member]
   
Cash provided by (used for) operations    
Net income (loss) 64,268 107,108
Items in net income (loss) not using (providing) cash    
Equity in net income of affiliates (131,320) (91,040)
Depreciation and amortization, including deferred financing costs and other 1,339 1,477
Stock-based compensation 4,186 1,862
Pension expense 597 8,104
Deferred income taxes 1,913 (65,095)
Other (40) (161)
Decrease (increase) in working capital, net of acquisitions    
Receivables (232) (853)
Inventories (101) 0
Prepaid expenses and other (353) 14
Accounts payable and accrued liabilities 5,848 2,660
Pension contributions (11,675) (10,352)
Income taxes payable 14,889 2,221
Other (3,016) (1,239)
Net cash provided by (used for) operations (53,697) (45,294)
Cash provided by (used for) investment    
Expenditures for property and equipment (514) (223)
Acquisitions of businesses and facilities   0
Proceeds from sales of assets 0 831
Other 0 0
Net cash provided by (used for) investment (514) 608
Cash provided by (used for) financing    
Net proceeds from issuance of common stock   262,488
Treasury stock purchased   (100,000)
Issuances of long-term debt, including revolving credit facility 57,600 130,000
Payments of long-term debt, including revolving credit facility (57,600) (80,000)
Financing costs (11) (1,854)
Other (269) 0
Due to (from) affiliates 106,211 (67,445)
Net cash provided by (used for) financing 105,931 143,189
Net increase (decrease) in cash and cash equivalents 51,720 98,503
Balance at beginning of the period 118,198 45,680
Balance at end of the period 169,918 144,183
Guarantor Subsidiaries [Member]
   
Cash provided by (used for) operations    
Net income (loss) 131,084 94,923
Items in net income (loss) not using (providing) cash    
Equity in net income of affiliates 0 0
Depreciation and amortization, including deferred financing costs and other 36,984 25,185
Stock-based compensation 0 0
Pension expense 0 0
Deferred income taxes 0 0
Other (1,569) (490)
Decrease (increase) in working capital, net of acquisitions    
Receivables (60,628) (62,955)
Inventories (15,239) (36,395)
Prepaid expenses and other (1,312) (1,568)
Accounts payable and accrued liabilities 56,008 47,466
Pension contributions 0 0
Income taxes payable 0 (12)
Other (4,466) 378
Net cash provided by (used for) operations 140,862 66,532
Cash provided by (used for) investment    
Expenditures for property and equipment (40,174) (29,374)
Acquisitions of businesses and facilities   (102,002)
Proceeds from sales of assets 4,726 288
Other 55 4
Net cash provided by (used for) investment (35,393) (131,084)
Cash provided by (used for) financing    
Net proceeds from issuance of common stock   0
Treasury stock purchased   0
Issuances of long-term debt, including revolving credit facility 0 0
Payments of long-term debt, including revolving credit facility 0 0
Financing costs 0 0
Other 0 0
Due to (from) affiliates (105,466) 64,545
Net cash provided by (used for) financing (105,466) 64,545
Net increase (decrease) in cash and cash equivalents 3 (7)
Balance at beginning of the period 25 35
Balance at end of the period 28 28
Non-guarantor Subsidiaries [Member]
   
Cash provided by (used for) operations    
Net income (loss) 236 (3,883)
Items in net income (loss) not using (providing) cash    
Equity in net income of affiliates 0 0
Depreciation and amortization, including deferred financing costs and other 900 911
Stock-based compensation 0 0
Pension expense 0 0
Deferred income taxes 0 0
Other 0 23
Decrease (increase) in working capital, net of acquisitions    
Receivables (142) (179)
Inventories (172) (45)
Prepaid expenses and other (30) (70)
Accounts payable and accrued liabilities 147 (115)
Pension contributions 0 0
Income taxes payable (6) 9
Other 0 (1)
Net cash provided by (used for) operations 933 (3,350)
Cash provided by (used for) investment    
Expenditures for property and equipment (172) (338)
Acquisitions of businesses and facilities   0
Proceeds from sales of assets 0 417
Other (14) 5
Net cash provided by (used for) investment (186) 84
Cash provided by (used for) financing    
Net proceeds from issuance of common stock   0
Treasury stock purchased   0
Issuances of long-term debt, including revolving credit facility 0 0
Payments of long-term debt, including revolving credit facility 0 0
Financing costs 0 0
Other 0 193
Due to (from) affiliates (745) 2,900
Net cash provided by (used for) financing (745) 3,093
Net increase (decrease) in cash and cash equivalents 2 (173)
Balance at beginning of the period 26 178
Balance at end of the period 28 5
Eliminations [Member]
   
Cash provided by (used for) operations    
Net income (loss) (131,320) (91,040)
Items in net income (loss) not using (providing) cash    
Equity in net income of affiliates 131,320 91,040
Depreciation and amortization, including deferred financing costs and other 0 0
Stock-based compensation 0 0
Pension expense 0 0
Deferred income taxes 0 0
Other 0 0
Decrease (increase) in working capital, net of acquisitions    
Receivables 0 0
Inventories 0 0
Prepaid expenses and other 0 0
Accounts payable and accrued liabilities 0 0
Pension contributions 0 0
Income taxes payable 0 0
Other 0 0
Net cash provided by (used for) operations 0 0
Cash provided by (used for) investment    
Expenditures for property and equipment 0 0
Acquisitions of businesses and facilities   0
Proceeds from sales of assets 0 0
Other 0 0
Net cash provided by (used for) investment 0 0
Cash provided by (used for) financing    
Net proceeds from issuance of common stock   0
Treasury stock purchased   0
Issuances of long-term debt, including revolving credit facility 0 0
Payments of long-term debt, including revolving credit facility 0 0
Financing costs 0 0
Other 0 0
Due to (from) affiliates 0 0
Net cash provided by (used for) financing 0 0
Net increase (decrease) in cash and cash equivalents 0 0
Balance at beginning of the period 0 0
Balance at end of the period $ 0 $ 0
[1] EBITDA is defined as income (loss) before interest (interest expense and interest income), income taxes, and depreciation and amortization. EBITDA is the primary measure used by our chief operating decision maker to evaluate segment operating performance and to decide how to allocate resources to segments. We believe EBITDA is useful to investors because it provides a means to evaluate the operating performance of our segments and our company on an ongoing basis using criteria that are used by our internal decision makers and because it is frequently used by investors and other interested parties when comparing companies in our industry that have different financing and capital structures and/or tax rates. We believe EBITDA is a meaningful measure because it presents a transparent view of our recurring operating performance and allows management to readily view operating trends, perform analytical comparisons, and identify strategies to improve operating performance. EBITDA, however, is not a measure of our liquidity or financial performance under generally accepted accounting principles (GAAP) and should not be considered as an alternative to net income (loss), income (loss) from operations, or any other performance measure derived in accordance with GAAP or as an alternative to cash flow from operating activities as a measure of our liquidity. The use of EBITDA instead of net income (loss) or segment income (loss) has limitations as an analytical tool, including the inability to determine profitability; the exclusion of interest expense, interest income, and associated significant cash requirements; and the exclusion of depreciation and amortization, which represent unavoidable operating costs. Management compensates for the limitations of EBITDA by relying on our GAAP results. Our measure of EBITDA is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the methods of calculation.The following is a reconciliation of net income to EBITDA for the consolidated company: Three Months EndedSeptember 30 Nine Months EndedSeptember 30 2014 2013 2014 2013 (millions)Net income(1) $32.3 $15.9 $64.3 $107.1Interest expense 5.5 5.2 16.5 14.8Interest income (0.1) (0.1) (0.2) (0.2)Income tax provision (benefit)(1) 18.1 9.6 35.9 (44.7)Depreciation and amortization 13.2 9.0 38.0 26.2EBITDA $69.1 $39.5 $154.5 $103.2 _______________________________________ (1)The nine months ended September 30, 2013, includes a $68.7 million income tax benefit associated with the recording of net deferred tax assets upon our conversion to a corporation.