XML 24 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net income $ 18,133 $ 16,773
Adjustments to reconcile to net cash provided by operations:    
Depreciation, depletion and amortization 33,411 31,602
Amortization of debt issue costs 574 599
Pension expense, net of unfunded benefits paid 1,964 3,699
Deferred income tax (benefit) provision (2,672) 2,501
Losses (gains) on dispositions of plant, equipment and timberlands, net 26 (2,765)
Share-based compensation 2,803 3,663
Change in operating assets and liabilities    
Accounts receivable (8,471) (20,783)
Inventories (12,295) (8,609)
Prepaid and other current assets (163) (1,678)
Accounts payable (3,027) (989)
Accruals and other current liabilities 5,252 2,735
Other 1,105 (1,235)
Net cash provided by operating activities 36,640 25,513
Investing activities    
Expenditures for purchases of plant, equipment and timberlands (80,391) (44,575)
Proceeds from disposals of plant, equipment and timberlands, net 53 3,051
Other (300) (1,600)
Net cash used by investing activities (80,638) (43,124)
Financing activities    
Net repayments of revolving credit facility (11,403)  
Payments of borrowing costs (136) (1,329)
Proceeds from term loans 19,428  
Repayment of term loans (3,803) (1,492)
Payments of dividends (10,679) (9,992)
Proceeds from government grants 4,443  
Payments related to share-based compensation awards and other (976) (2,000)
Net cash used by financing activities (3,126) (14,813)
Effect of exchange rate changes on cash 352 (1,651)
Net decrease in cash and cash equivalents (46,772) (34,075)
Cash and cash equivalents at the beginning of period 105,304 99,837
Cash and cash equivalents at the end of period 58,532 65,762
Cash paid for:    
Interest, net of amounts capitalized 7,509 8,281
Income taxes, net $ 8,486 $ 10,234