XML 31 R6.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income (loss) $ (110,379) $ 9,804
Loss (income) from discontinued operations, net of taxes (371) 82
Adjustments to reconcile to net cash provided (used) by continuing operations:    
Depreciation, depletion and amortization 34,936 28,466
Amortization of debt issue costs and original issue discount 963 309
Goodwill and other asset impairment charges 117,349 0
Inventory and accounts receivable charges 3,948 0
Deferred income tax expense (benefit) (22,186) 616
Gains on dispositions of plant, equipment and timberlands, net (2,888) (2,403)
Share-based compensation 2,419 2,537
Change in operating assets and liabilities:    
Accounts receivable (52,936) (11,533)
Inventories (45,148) (21,870)
Prepaid and other current assets 3,472 3,377
Accounts payable 9,516 (4,542)
Accruals and other current liabilities (16,910) (5,841)
Other (1,320) 2,363
Net cash provided (used) by operating activities from continuing operations (79,535) 1,365
Investing activities    
Expenditures for purchases of plant, equipment and timberlands (22,697) (11,211)
Proceeds from disposals of plant, equipment and timberlands, net 3,173 2,510
Acquisition, net of cash acquired 1,413 (172,331)
Other (25) (104)
Net cash used by investing activities from continuing operations (18,136) (181,136)
Financing activities    
Proceeds from term loans 0 11,725
Repayment of term loans (23,793) (12,159)
Net borrowings under revolving credit facility 72,176 178,077
Payments of borrowing costs (1,102) (35)
Payments of dividends (12,498) (11,991)
Payments related to share-based compensation awards and other (1,237) (479)
Net cash provided by financing activities from continuing operations 33,546 165,138
Effect of exchange rate changes on cash (3,587) (1,432)
Net decrease in cash, cash equivalents and restricted cash (67,712) (16,065)
Decrease in cash, cash equivalents and restricted cash from discontinued operations (231) (238)
Cash, cash equivalents and restricted cash at the beginning of period 148,814 111,665
Cash, cash equivalents and restricted cash at the end of period 80,871 95,362
Less: restricted cash in Prepaid expenses and other current assets (2,000) (2,000)
Less: restricted cash in Other assets (7,395) (9,197)
Cash and cash equivalents at the end of period 71,476 84,165
Cash paid for:    
Interest 15,879 2,920
Income taxes, net $ 14,699 $ 7,098