Discontinued Operations

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

4. DISCONTINUED OPERATIONS

In 2018, we completed the sale of the Specialty Papers business on a cash free and debt free basis to Pixelle Specialty Solutions LLC, an affiliate of Lindsay Goldberg (the “Purchaser”) for $360.0 million. The sale of the business was in connection with the strategic focus on our more growth oriented Composite Fibers and Airlaid Materials.

The following table sets forth a summary of discontinued operations included in the consolidated statements of income (loss):


	Year ended December 31,
In thousands	2021		2020		2019
Net sales	$	—	$	—	$	—
Energy and related sales, net	—		—		—
Total revenues	—		—		—
Costs of products sold	—		—		—
Gross profit	—		—		—
Selling, general and administrative expenses	(216)		(544)		109
(Gains) losses on dispositions of plant, equipment and timberlands, net	—		—		—
Operating income (loss)	216		544		(109)
Non-operating income (expense)
Interest expense	—		—		—
Other, net	—		—		1,393
Impairment charge	—		—		—
Income (loss) before income taxes	216		544		1,284
Income tax provision (benefit)	—		29		(2,386)
Income from discontinued operations	$	216	$	515	$	3,670

The amount set forth above in 2021 primarily represents reversal of sales and use tax reserves due to the expiration of statutes of limitation partially offset by legal costs incurred to pursue certain legal claims. In 2020, the amount set forth above primarily represents the settlement of a sales and use tax audit.

The following table sets forth a summary of cash flows from discontinued operations which is included in the consolidated statements of cash flows:


	Year ended December 31,
In thousands	2021		2020		2019
Net cash used by operating activities	$	(996)	$	(1,613)	$	(10,942)
Net cash used by investing activities	—		—		(8,221)
Net cash provided by financing activities	—		—		—
Change in cash and cash equivalents from discontinued operations	$	(996)	$	(1,613)	$	(19,163)