XML 104 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Operating activities      
Net income $ 69,246us-gaap_NetIncomeLoss $ 67,158us-gaap_NetIncomeLoss $ 59,379us-gaap_NetIncomeLoss
Adjustments to reconcile to net cash provided by operations:      
Depreciation, depletion and amortization 70,555us-gaap_DepreciationDepletionAndAmortization 68,196us-gaap_DepreciationDepletionAndAmortization 69,500us-gaap_DepreciationDepletionAndAmortization
Amortization of debt issue costs and original issue discount 1,315us-gaap_AmortizationOfFinancingCostsAndDiscounts 1,305us-gaap_AmortizationOfFinancingCostsAndDiscounts 3,177us-gaap_AmortizationOfFinancingCostsAndDiscounts
Pension expense, net of unfunded benefits paid 5,173glt_NoncashPensionExpenseNetOfUnfundedBenefits 12,787glt_NoncashPensionExpenseNetOfUnfundedBenefits 10,427glt_NoncashPensionExpenseNetOfUnfundedBenefits
Charge for impairment of intangible asset 3,262us-gaap_AssetImpairmentCharges    
Deferred income tax benefit (9,419)us-gaap_DeferredIncomeTaxExpenseBenefit (11,485)us-gaap_DeferredIncomeTaxExpenseBenefit (2,209)us-gaap_DeferredIncomeTaxExpenseBenefit
Gains on dispositions of plant, equipment and timberlands, net (4,861)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (1,726)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (9,815)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Share-based compensation 7,859us-gaap_ShareBasedCompensation 7,337us-gaap_ShareBasedCompensation 6,520us-gaap_ShareBasedCompensation
Change in operating assets and liabilities      
Accounts receivable (5,404)us-gaap_IncreaseDecreaseInAccountsReceivable (777)us-gaap_IncreaseDecreaseInAccountsReceivable (3,379)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (21,456)us-gaap_IncreaseDecreaseInInventories 2,704us-gaap_IncreaseDecreaseInInventories (12,615)us-gaap_IncreaseDecreaseInInventories
Prepaid and other current assets (3,521)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 7,965us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (14,952)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable (4,175)us-gaap_IncreaseDecreaseInAccountsPayable 24,822us-gaap_IncreaseDecreaseInAccountsPayable 6,953us-gaap_IncreaseDecreaseInAccountsPayable
Accruals and other current liabilities (12,802)glt_IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities 3,140glt_IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities 8,406glt_IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities
Other 3,805us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (7,791)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (8,546)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by operating activities 99,577us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 173,635us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 112,846us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Investing activities      
Expenditures for purchases of plant, equipment and timberlands (66,046)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (103,047)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (58,752)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from disposals of plant, equipment and timberlands, net 5,072us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 1,947us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 10,272us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Acquisition, net of cash acquired (8,015)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (210,911)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired  
Other (600)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (425)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (225)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used by investing activities (69,589)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (312,436)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (48,705)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Financing activities      
Proceeds from note offerings     250,000us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt
Repayments of note offerings     (205,131)us-gaap_RepaymentsOfLongTermDebt
Net borrowings under (repayments of) revolving credit facility (30,720)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit 126,139us-gaap_ProceedsFromRepaymentsOfLinesOfCredit (27,000)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
Payments of borrowing costs   (419)us-gaap_PaymentsOfDebtIssuanceCosts (4,748)us-gaap_PaymentsOfDebtIssuanceCosts
Proceeds from term loans 12,592us-gaap_ProceedsFromIssuanceOfLongTermDebt 56,091us-gaap_ProceedsFromIssuanceOfLongTermDebt  
Repurchases of common stock (12,180)us-gaap_PaymentsForRepurchaseOfCommonStock   (5,675)us-gaap_PaymentsForRepurchaseOfCommonStock
Payments of dividends (18,696)us-gaap_PaymentsOfDividendsCommonStock (16,965)us-gaap_PaymentsOfDividendsCommonStock (15,608)us-gaap_PaymentsOfDividendsCommonStock
Payments related to share-based compensation awards and other (1,877)glt_ProceedsFromPaymentsForShareBasedCompensationAndOther (1,671)glt_ProceedsFromPaymentsForShareBasedCompensationAndOther 2,673glt_ProceedsFromPaymentsForShareBasedCompensationAndOther
Net cash (used) provided by financing activities (50,881)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 163,175us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (5,489)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash (2,152)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 829us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 750us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net (decrease) increase in cash and cash equivalents (23,045)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 25,203us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 59,402us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at the beginning of period 122,882us-gaap_CashAndCashEquivalentsAtCarryingValue 97,679us-gaap_CashAndCashEquivalentsAtCarryingValue 38,277us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at the end of period 99,837us-gaap_CashAndCashEquivalentsAtCarryingValue 122,882us-gaap_CashAndCashEquivalentsAtCarryingValue 97,679us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid for:      
Interest, net of amounts capitalized 17,643us-gaap_InterestPaidNet 17,231us-gaap_InterestPaidNet 14,400us-gaap_InterestPaidNet
Income taxes, net $ 24,139us-gaap_IncomeTaxesPaidNet $ 15,588us-gaap_IncomeTaxesPaidNet $ 44,657us-gaap_IncomeTaxesPaidNet