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Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Statement of Income

Condensed Consolidating Statement of Income for the

three months ended June 30, 2015

In thousands		Parent Company				Guarantors				Non Guarantors				Adjustments/ Eliminations				Consolidated
Net sales		$	212,920			$	—			$	197,883			$	—			$	410,803
Energy and related sales, net			715				—				—				—				715
Total revenues			213,635				—				197,883				—				411,518
Costs of products sold			213,316				—				165,369				—				378,685
Gross profit			319				—				32,514				—				32,833
Selling, general and administrative expenses			15,661				15				13,461				—				29,137
Gains on dispositions of plant, equipment and timberlands, net			(51	)			—				(60	)			—				(111	)
Operating income (loss)			(15,291	)			(15	)			19,113				—				3,807
Other non-operating income (expense)
Interest expense			(4,608	)			—				(6,370	)			6,626				(4,352	)
Interest income			169				6,498				36				(6,626	)			77
Equity in earnings of subsidiaries			17,879				11,761				—				(29,640	)			—
Other, net			(745	)			(20	)			980				—				215
Total other non-operating income (expense)			12,695				18,239				(5,354	)			(29,640	)			(4,060	)
Income (loss) before income taxes			(2,596	)			18,224				13,759				(29,640	)			(253	)
Income tax provision (benefit)			(5,444	)			445				1,898				—				(3,101	)
Net income			2,848				17,779				11,861				(29,640	)			2,848
Other comprehensive income (loss)			17,087				13,680				(9,958	)			(3,722	)			17,087
Comprehensive income		$	19,935			$	31,459			$	1,903			$	(33,362	)		$	19,935

Condensed Consolidating Statement of Income for the

three months ended June 30, 2014

In thousands		Parent Company				Guarantors				Non Guarantors				Adjustments/ Eliminations				Consolidated
Net sales		$	217,864			$	4			$	227,478			$	(5	)		$	445,341
Energy and related sales, net			790				—				—				—				790
Total revenues			218,654				4				227,478				(5	)			446,131
Costs of products sold			215,756				4				188,939				(5	)			404,694
Gross profit			2,898				—				38,539				—				41,437
Selling, general and administrative expenses			16,555				143				15,616				—				32,314
Gains on dispositions of plant, equipment and timberlands, net			(162	)			(1,316	)			(4	)			—				(1,482	)
Operating income (loss)			(13,495	)			1,173				22,927				—				10,605
Other non-operating income (expense)
Interest expense			(4,756	)			—				(2,815	)			2,809				(4,762	)
Interest income			164				2,656				41				(2,809	)			52
Equity in earnings of subsidiaries			19,021				15,482				—				(34,503	)			—
Other, net			(338	)			11				389				(1	)			61
Total other non-operating income (expense)			14,091				18,149				(2,385	)			(34,504	)			(4,649	)
Income before income taxes			596				19,322				20,542				(34,504	)			5,956
Income tax provision (benefit)			(4,073	)			715				4,645				—				1,287
Net income			4,669				18,607				15,897				(34,504	)			4,669
Other comprehensive income (loss)			3,026				(550	)			1,098				(548	)			3,026
Comprehensive income		$	7,695			$	18,057			$	16,995			$	(35,052	)		$	7,695

Condensed Consolidating Statement of Income for the

six months ended June 30, 2015

In thousands		Parent Company				Guarantors				Non Guarantors				Adjustments/ Eliminations				Consolidated
Net sales		$	432,796			$	—			$	395,476			$	—			$	828,272
Energy and related sales, net			2,783				—				—				—				2,783
Total revenues			435,579				—				395,476				—				831,055
Costs of products sold			415,835				—				330,279				—				746,114
Gross profit			19,744				—				65,197				—				84,941
Selling, general and administrative expenses			32,843				205				27,361				—				60,409
Gains on dispositions of plant, equipment and timberlands, net			(1,522	)			(1,183	)			(60	)			—				(2,765	)
Operating income (loss)			(11,577	)			978				37,896				—				27,297
Other non-operating income (expense)
Interest expense			(9,425	)			—				(12,764	)			13,329				(8,860	)
Interest income			332				13,097				41				(13,328	)			142
Equity in earnings of subsidiaries			34,242				21,236				—				(55,478	)			—
Other, net			(1,460	)			(146	)			1,635				(1	)			28
Total other non-operating income (expense)			23,689				34,187				(11,088	)			(55,478	)			(8,690	)
Income before income taxes			12,112				35,165				26,808				(55,478	)			18,607
Income tax provision (benefit)			(4,661	)			1,349				5,146				—				1,834
Net income			16,773				33,816				21,662				(55,478	)			16,773
Other comprehensive income (loss)			(18,198	)			(24,870	)			28,890				(4,020	)			(18,198	)
Comprehensive income (loss)		$	(1,425	)		$	8,946			$	50,552			$	(59,498	)		$	(1,425	)

Condensed Consolidating Statement of Income for the

six months ended June 30, 2014

In thousands		Parent Company				Guarantors				Non Guarantors				Adjustments/ Eliminations				Consolidated
Net sales		$	443,695			$	21			$	457,367			$	(21	)		$	901,062
Energy and related sales, net			6,052				—				—				—				6,052
Total revenues			449,747				21				457,367				(21	)			907,114
Costs of products sold			432,472				21				378,165				(21	)			810,637
Gross profit			17,275				—				79,202				—				96,477
Selling, general and administrative expenses			34,347				156				31,362				—				65,865
Gains on dispositions of plant, equipment and timberlands, net			(974	)			(1,317	)			—				—				(2,291	)
Operating income (loss)			(16,098	)			1,161				47,840				—				32,903
Other non-operating income (expense)
Interest expense			(9,494	)			—				(5,545	)			5,465				(9,574	)
Interest income			316				5,214				48				(5,465	)			113
Equity in earnings of subsidiaries			41,520				35,944				—				(77,464	)			—
Other, net			(1,220	)			21				1,471				—				272
Total other non-operating income (expense)			31,122				41,179				(4,026	)			(77,464	)			(9,189	)
Income before income taxes			15,024				42,340				43,814				(77,464	)			23,714
Income tax provision (benefit)			(4,293	)			1,628				7,062				—				4,397
Net income			19,317				40,712				36,752				(77,464	)			19,317
Other comprehensive income (loss)			5,991				(549	)			1,983				(1,434	)			5,991
Comprehensive income		$	25,308			$	40,163			$	38,735			$	(78,898	)		$	25,308

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet as of

June 30, 2015

In thousands		Parent Company				Guarantors				Non Guarantors				Adjustments/ Eliminations				Consolidated
Assets
Cash and cash equivalents		$	34,316			$	308			$	31,138			$	—			$	65,762
Other current assets			233,505				217,912				284,051				(245,597	)			489,871
Plant, equipment and timberlands, net			278,537				961				414,421				—				693,919
Investments in subsidiaries			723,851				400,722				—				(1,124,573	)			—
Other assets			129,829				95,693				151,541				(96,178	)			280,885
Total assets		$	1,400,038			$	715,596			$	881,151			$	(1,466,348	)		$	1,530,437
Liabilities and Shareholders’ Equity
Current liabilities		$	359,940			$	1,939			$	178,455			$	(251,953	)		$	288,381
Long-term debt			250,000				—				659,770				(526,623	)			383,147
Deferred income taxes			50,564				(452	)			51,305				1,020				102,437
Other long-term liabilities			100,609				—				107,279				(90,341	)			117,547
Total liabilities			761,113				1,487				996,809				(867,897	)			891,512
Shareholders’ equity			638,925				714,109				(115,658	)			(598,451	)			638,925
Total liabilities and shareholders’ equity		$	1,400,038			$	715,596			$	881,151			$	(1,466,348	)		$	1,530,437

Condensed Consolidating Balance Sheet as of

December 31, 2014

In thousands		Parent Company				Guarantors				Non Guarantors				Adjustments/ Eliminations				Consolidated
Assets
Cash and cash equivalents		$	42,208			$	514			$	57,115			$	—			$	99,837
Other current assets			218,544				420,451				263,567				(427,777	)			474,785
Plant, equipment and timberlands, net			255,255				991				441,362				—				697,608
Investments in subsidiaries			824,480				399,931				—				(1,224,411	)			—
Other assets			121,125				—				186,129				(17,980	)			289,274
Total assets		$	1,461,612			$	821,887			$	948,173			$	(1,670,168	)		$	1,561,504
Liabilities and Shareholders’ Equity
Current liabilities		$	403,662			$	3,394			$	307,737			$	(435,062	)		$	279,731
Long-term debt			250,000				—				721,457				(572,579	)			398,878
Deferred income taxes			46,483				(453	)			70,275				(12,289	)			104,016
Other long-term liabilities			112,358				—				11,633				5,779				129,770
Total liabilities			812,503				2,941				1,111,102				(1,014,151	)			912,395
Shareholders’ equity			649,109				818,946				(162,929	)			(656,017	)			649,109
Total liabilities and shareholders’ equity		$	1,461,612			$	821,887			$	948,173			$	(1,670,168	)		$	1,561,504

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows for the

six months ended June 30, 2015

In thousands		Parent Company				Guarantors				Non Guarantors				Adjustments/ Eliminations				Consolidated
Net cash provided (used) by
Operating activities		$	(4,343	)		$	(684	)		$	30,540			$	—			$	25,513
Investing activities
Expenditures for purchases of plant, equipment and timberlands			(30,241	)			—				(14,334	)			—				(44,575	)
Proceeds from disposal plant, equipment and timberlands, net			1,581				1,213				257				—				3,051
Repayments from intercompany loans			—				48,855				—				(48,855	)			—
Advances of intercompany loans			—				(38,690	)			—				38,690				—
Intercompany capital (contributed) returned			10,500				(300	)			—				(10,200	)			—
Other			(1,600	)			—				—				—				(1,600	)
Total investing activities			(19,760	)			11,078				(14,077	)			(20,365	)			(43,124	)
Financing activities
Net repayments of indebtedness			—				—				(1,492	)			—				(1,492	)
Payments of borrowing costs			(1,329	)			—				—				—				(1,329	)
Payment of dividends to shareholders			(9,992	)			—				—				—				(9,992	)
Repayments of intercompany loans			(9,158	)			—				(39,697	)			48,855				—
Borrowings of intercompany loans			38,690				—				—				(38,690	)			—
Intercompany capital received (returned)			—				(10,600	)			400				10,200				—
Payments related to share-based compensation awards and other			(2,000	)			—				—				—				(2,000	)
Total financing activities			16,211				(10,600	)			(40,789	)			20,365				(14,813	)
Effect of exchange rate on cash			—				—				(1,651	)			—				(1,651	)
Net (decrease) increase in cash			(7,892	)			(206	)			(25,977	)			—				(34,075	)
Cash at the beginning of period			42,208				514				57,115				—				99,837
Cash at the end of period		$	34,316			$	308			$	31,138			$	—			$	65,762

Condensed Consolidating Statement of Cash Flows for the

six months ended June 30, 2014

In thousands		Parent Company				Guarantors				Non Guarantors				Adjustments/ Eliminations				Consolidated
Net cash provided (used) by
Operating activities		$	(15,054	)		$	1,773			$	(8,085	)		$				$	(21,366	)
Investing activities
Expenditures for purchases of plant, equipment and timberlands			(15,963	)			—				(14,193	)			—				(30,156	)
Proceeds from disposal plant, equipment and timberlands, net			1,000				1,355				5				—				2,360
Advances of intercompany loans			—				(3,450	)			—				3,450				—
Other			(100	)			—				—				—				(100	)
Total investing activities			(15,063	)			(2,095	)			(14,188	)			3,450				(27,896	)
Financing activities
Net proceeds from indebtedness			—				—				(25,425	)			—				(25,425	)
Payment of dividends to shareholders			(9,164	)			—				—				—				(9,164	)
Repurchases of common stock			(9,158	)			—				—				—				(9,158	)
Borrowings of intercompany loans			3,450				—				—				(3,450	)			—
Payments related to share-based compensation awards and other			(1,816	)			—				—				—				(1,816	)
Total financing activities			(16,688	)			—				(25,425	)			(3,450	)			(45,563	)
Effect of exchange rate on cash			—				—				(41	)			—				(41	)
Net decrease in cash			(46,805	)			(322	)			(47,739	)			—				(94,866	)
Cash at the beginning of period			56,216				501				66,165				—				122,882
Cash at the end of period		$	9,411			$	179			$	18,426			$	—			$	28,016

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