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Supplemental Guarantor Financial Information | 12 Months Ended
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Dec. 31, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Supplemental Guarantor Financial Information | NOTE 19 Supplemental Guarantor Financial Information All of our directly and indirectly owned, domestic subsidiaries guarantee the 2013 Notes and the 2010 Notes on a joint and several basis. As of December 31, 2013, the 2013 Notes and 2010 Notes were not guaranteed by Interlake Acquisition Corporation Limited, a foreign subsidiary. There are no significant restrictions on the ability of the guarantor subsidiaries to make distributions to Clearwater Paper, the issuer of the 2013 Notes and 2010 Notes. The following tables present the results of operations, financial position and cash flows of Clearwater Paper and its subsidiaries, the guarantor and non-guarantor entities, and the eliminations necessary to arrive at the information for Clearwater Paper on a consolidated basis. Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Twelve Months Ended December 31, 2013
|  |  | Guarantor |  | Non-Guarantor |  |  |  |
(In thousands) | Issuer |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Net sales | $ | 1,408,941 |  |  | $ | 480,599 |  |  | $ | 29,494 |  |  | $ | (29,204 | ) |  | $ | 1,889,830 |
Cost and expenses: |  |  |  |  |  |  |  |  |
Cost of sales | (1,203,945 | ) |  | (467,822 | ) |  | (28,808 | ) |  | 29,204 |  |  | (1,671,371 | )
Selling, general and administrative expenses | (94,861 | ) |  | (22,918 | ) |  | (1,352 | ) |  | — |  |  | (119,131 | )
Total operating costs and expenses | (1,298,806 | ) |  | (490,740 | ) |  | (30,160 | ) |  | 29,204 |  |  | (1,790,502 | )
Income (loss) from operations | 110,135 |  |  | (10,141 | ) |  | (666 | ) |  | — |  |  | 99,328 |
Interest expense, net | (44,031 | ) |  | (5 | ) |  | — |  |  | — |  |  | (44,036 | )
Debt retirement costs | (17,058 | ) |  | — |  |  | — |  |  | — |  |  | (17,058 | )
Earnings (loss) before income taxes | 49,046 |  |  | (10,146 | ) |  | (666 | ) |  | — |  |  | 38,234 |
Income tax benefit (provision) | 61,778 |  |  | (4,420 | ) |  | (138 | ) |  | 11,501 |  |  | 68,721 |
Equity in income of subsidiary | (15,370 | ) |  | (804 | ) |  | — |  |  | 16,174 |  |  | — |
Net earnings (loss) | $ | 95,454 |  |  | $ | (15,370 | ) |  | $ | (804 | ) |  | $ | 27,675 |  |  | $ | 106,955 |
Other comprehensive income, net of tax | 57,600 |  |  | — |  |  | — |  |  | — |  |  | 57,600 |
Comprehensive income (loss) | $ | 153,054 |  |  | $ | (15,370 | ) |  | $ | (804 | ) |  | $ | 27,675 |  |  | $ | 164,555 |
Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Twelve Months Ended December 31, 2012
|  |  | Guarantor |  | Non-Guarantor |  |  |  |
(In thousands) | Issuer |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Net sales | $ | 1,375,732 |  |  | $ | 492,074 |  |  | $ | 26,478 |  |  | $ | (19,980 | ) |  | $ | 1,874,304 |
Cost and expenses: |  |  |  |  |  |  |  |  |
Cost of sales | (1,149,413 | ) |  | (454,383 | ) |  | (24,056 | ) |  | 19,980 |  |  | (1,607,872 | )
Selling, general and administrative expenses | (96,668 | ) |  | (22,268 | ) |  | (2,109 | ) |  | — |  |  | (121,045 | )
Total operating costs and expenses | (1,246,081 | ) |  | (476,651 | ) |  | (26,165 | ) |  | 19,980 |  |  | (1,728,917 | )
Income from operations | 129,651 |  |  | 15,423 |  |  | 313 |  |  | — |  |  | 145,387 |
Interest expense, net | (33,796 | ) |  | — |  |  | — |  |  | — |  |  | (33,796 | )
Earnings before income taxes | 95,855 |  |  | 15,423 |  |  | 313 |  |  | — |  |  | 111,591 |
Income tax provision | (42,440 | ) |  | (14,362 | ) |  | (35 | ) |  | 9,377 |  |  | (47,460 | )
Equity in income of subsidiary | 1,339 |  |  | 278 |  |  | — |  |  | (1,617 | ) |  | — |
Net earnings | $ | 54,754 |  |  | $ | 1,339 |  |  | $ | 278 |  |  | $ | 7,760 |  |  | $ | 64,131 |
Other comprehensive loss, net of tax | (428 | ) |  | — |  |  | — |  |  | — |  |  | (428 | )
Comprehensive income | $ | 54,326 |  |  | $ | 1,339 |  |  | $ | 278 |  |  | $ | 7,760 |  |  | $ | 63,703 |
Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Twelve Months Ended December 31, 2011
|  |  | Guarantor |  | Non-Guarantor |  |  |  |
(In thousands) | Issuer |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Total
Net sales | $ | 1,464,570 |  |  | $ | 508,341 |  |  | $ | 32,977 |  |  | $ | (77,915 | ) |  | $ | 1,927,973 |
Cost and expenses: |  |  |  |  |  |  |  |  |
Cost of sales | (1,256,507 | ) |  | (493,338 | ) |  | (30,600 | ) |  | 77,915 |  |  | (1,702,530 | )
Selling, general and administrative expenses | (61,794 | ) |  | (44,481 | ) |  | (3,723 | ) |  | — |  |  | (109,998 | )
Total operating costs and expenses | (1,318,301 | ) |  | (537,819 | ) |  | (34,323 | ) |  | 77,915 |  |  | (1,812,528 | )
Income (loss) from operations | 146,269 |  |  | (29,478 | ) |  | (1,346 | ) |  | — |  |  | 115,445 |
Interest expense, net | (44,187 | ) |  | (622 | ) |  | — |  |  | — |  |  | (44,809 | )
Other, net | (215 | ) |  | 388 |  |  | 111 |  |  | — |  |  | 284 |
Earnings (loss) before income taxes | 101,867 |  |  | (29,712 | ) |  | (1,235 | ) |  | — |  |  | 70,920 |
Income tax (provision) benefit | (34,018 | ) |  | 1,857 |  |  | (2,452 | ) |  | 3,367 |  |  | (31,246 | )
Equity in income of subsidiary | (31,542 | ) |  | (3,687 | ) |  | — |  |  | 35,229 |  |  | — |
Net earnings | $ | 36,307 |  |  | $ | (31,542 | ) |  | $ | (3,687 | ) |  | $ | 38,596 |  |  | $ | 39,674 |
Other comprehensive loss, net of tax | (16,913 | ) |  | — |  |  | — |  |  | — |  |  | (16,913 | )
Comprehensive income | $ | 19,394 |  |  | $ | (31,542 | ) |  | $ | (3,687 | ) |  | $ | 38,596 |  |  | $ | 22,761 |
Clearwater Paper Corporation Consolidating Balance Sheet At December 31, 2013
(In thousands) | Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash | $ | 18,273 |  |  | $ | — |  |  | $ | 5,402 |  |  | $ | — |  |  | $ | 23,675 |
Restricted cash | 1,500 |  |  | — |  |  | — |  |  | — |  |  | 1,500 |
Short-term investments | 70,000 |  |  | — |  |  | — |  |  | — |  |  | 70,000 |
Receivables, net | 119,278 |  |  | 38,063 |  |  | 2,700 |  |  | (1,167 | ) |  | 158,874 |
Taxes receivable | 3,709 |  |  | (15,882 | ) |  | 324 |  |  | 22,352 |  |  | 10,503 |
Inventories | 198,476 |  |  | 65,017 |  |  | 4,295 |  |  | — |  |  | 267,788 |
Deferred tax assets | 42,289 |  |  | 6,094 |  |  | 5 |  |  | (10,850 | ) |  | 37,538 |
Prepaid expenses | 4,704 |  |  | 695 |  |  | 124 |  |  | — |  |  | 5,523 |
Total current assets | 458,229 |  |  | 93,987 |  |  | 12,850 |  |  | 10,335 |  |  | 575,401 |
Property, plant and equipment, net | 636,662 |  |  | 231,225 |  |  | 16,811 |  |  | — |  |  | 884,698 |
Goodwill | 229,533 |  |  | — |  |  | — |  |  | — |  |  | 229,533 |
Intangible assets, net | — |  |  | 39,619 |  |  | 1,159 |  |  | — |  |  | 40,778 |
Intercompany receivable (payable) | 91,865 |  |  | (63,932 | ) |  | (16,431 | ) |  | (11,502 | ) |  | — |
Investment in subsidiary | 196,763 |  |  | 5,575 |  |  | — |  |  | (202,338 | ) |  | — |
Pension assets | 4,488 |  |  | — |  |  | — |  |  | — |  |  | 4,488 |
Other assets, net | 8,772 |  |  | 1,155 |  |  | — |  |  | — |  |  | 9,927 |
TOTAL ASSETS | $ | 1,626,312 |  |  | $ | 307,629 |  |  | $ | 14,389 |  |  | $ | (203,505 | ) |  | $ | 1,744,825 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 140,125 |  |  | $ | 45,736 |  |  | $ | 5,954 |  |  | $ | (1,167 | ) |  | $ | 190,648 |
Current liability for pensions and other postretirement employee benefits | 8,778 |  |  | — |  |  | — |  |  |  |  |  | 8,778 |
Total current liabilities | 148,903 |  |  | 45,736 |  |  | 5,954 |  |  | (1,167 | ) |  | 199,426 |
Long-term debt | 650,000 |  |  | — |  |  | — |  |  | — |  |  | 650,000 |
Liability for pensions and other postretirement employee benefits | 109,807 |  |  | — |  |  | — |  |  | — |  |  | 109,807 |
Other long-term obligations | 51,740 |  |  | 1,202 |  |  | — |  |  | — |  |  | 52,942 |
Accrued taxes | 1,430 |  |  | 911 |  |  | 317 |  |  | — |  |  | 2,658 |
Deferred tax liabilities | 59,338 |  |  | 63,017 |  |  | 2,543 |  |  | — |  |  | 124,898 |
Accumulated other comprehensive loss, net of tax | (58,093 | ) |  | — |  |  | — |  |  | — |  |  | (58,093 | )
Stockholders’ equity excluding accumulated other comprehensive loss | 663,187 |  |  | 196,763 |  |  | 5,575 |  |  | (202,338 | ) |  | 663,187 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,626,312 |  |  | $ | 307,629 |  |  | $ | 14,389 |  |  | $ | (203,505 | ) |  | $ | 1,744,825 |
Clearwater Paper Corporation Consolidating Balance Sheet At December 31, 2012
(In thousands) | Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash | $ | 11,105 |  |  | $ | 5 |  |  | $ | 1,469 |  |  | $ | — |  |  | $ | 12,579 |
Short-term investments | 20,000 |  |  | — |  |  | — |  |  | — |  |  | 20,000 |
Receivables, net | 109,129 |  |  | 41,431 |  |  | 5,612 |  |  | (2,029 | ) |  | 154,143 |
Taxes receivable | 20,712 |  |  | 116 |  |  | — |  |  | — |  |  | 20,828 |
Inventories | 163,422 |  |  | 63,476 |  |  | 4,568 |  |  | — |  |  | 231,466 |
Deferred tax assets | 11,750 |  |  | 4,595 |  |  | — |  |  | 791 |  |  | 17,136 |
Prepaid expenses | 11,441 |  |  | 708 |  |  | 165 |  |  | — |  |  | 12,314 |
Total current assets | 347,559 |  |  | 110,331 |  |  | 11,814 |  |  | (1,238 | ) |  | 468,466 |
Property, plant and equipment, net | 618,076 |  |  | 242,818 |  |  | 16,483 |  |  | — |  |  | 877,377 |
Goodwill | 229,533 |  |  | — |  |  | — |  |  | — |  |  | 229,533 |
Intangible assets, net | — |  |  | 46,379 |  |  | 1,374 |  |  | — |  |  | 47,753 |
Intercompany receivable (payable) | 108,530 |  |  | (91,881 | ) |  | (15,858 | ) |  | (791 | ) |  | — |
Investment in subsidiary | 209,431 |  |  | 6,204 |  |  | — |  |  | (215,635 | ) |  | — |
Other assets, net | 9,948 |  |  | 379 |  |  | — |  |  | — |  |  | 10,327 |
TOTAL ASSETS | $ | 1,523,077 |  |  | $ | 314,230 |  |  | $ | 13,813 |  |  | $ | (217,664 | ) |  | $ | 1,633,456 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 132,360 |  |  | $ | 30,630 |  |  | $ | 4,635 |  |  | $ | (2,029 | ) |  | $ | 165,596 |
Current liability for pensions and other postretirement employee benefits | 9,137 |  |  | — |  |  | — |  |  | — |  |  | 9,137 |
Total current liabilities | 141,497 |  |  | 30,630 |  |  | 4,635 |  |  | (2,029 | ) |  | 174,733 |
Long-term debt | 523,933 |  |  | — |  |  | — |  |  | — |  |  | 523,933 |
Liability for pensions and other postretirement employee benefits | 204,163 |  |  | — |  |  | — |  |  | — |  |  | 204,163 |
Other long-term obligations | 49,102 |  |  | 1,808 |  |  | — |  |  | — |  |  | 50,910 |
Accrued taxes | 76,617 |  |  | 1,771 |  |  | 311 |  |  | — |  |  | 78,699 |
Deferred tax liabilities (assets) | (13,129 | ) |  | 70,590 |  |  | 2,663 |  |  | — |  |  | 60,124 |
Accumulated other comprehensive loss, net of tax | (115,693 | ) |  | — |  |  | — |  |  | — |  |  | (115,693 | )
Stockholders’ equity excluding accumulated other comprehensive loss | 656,587 |  |  | 209,431 |  |  | 6,204 |  |  | (215,635 | ) |  | 656,587 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 1,523,077 |  |  | $ | 314,230 |  |  | $ | 13,813 |  |  | $ | (217,664 | ) |  | $ | 1,633,456 |
Clearwater Paper Corporation Consolidating Statement of Cash Flows Twelve Months Ended December 31, 2013
(In thousands) | Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net earnings (loss) | $ | 95,454 |  |  | $ | (15,370 | ) |  | $ | (804 | ) |  | $ | 27,675 |  |  | $ | 106,955 |
Adjustments to reconcile net earnings (loss) to net cash flows from operating activities: |  |  |  |  |  |  |  |  |
Depreciation and amortization | 54,291 |  |  | 33,712 |  |  | 2,269 |  |  | — |  |  | 90,272 |
Non-cash adjustments to unrecognized taxes | (75,308 | ) |  | — |  |  | — |  |  | — |  |  | (75,308 | )
Deferred tax provision (benefit) | 3,185 |  |  | (9,072 | ) |  | (125 | ) |  | 11,641 |  |  | 5,629 |
Equity-based compensation expense | 10,960 |  |  |  |  |  |  |  |  | — |  |  | 10,960 |
Employee benefit plans | 10,131 |  |  | — |  |  | — |  |  | — |  |  | 10,131 |
Deferred issuance costs and discounts on long-term debt | 4,964 |  |  | — |  |  | — |  |  | — |  |  | 4,964 |
Disposal of plant and equipment, net | 201 |  |  | 1,291 |  |  | 1 |  |  | — |  |  | 1,493 |
Changes in working capital, net | (31,256 | ) |  | 11,747 |  |  | 4,487 |  |  | — |  |  | (15,022 | )
Change in taxes receivable, net | 17,003 |  |  | 15,998 |  |  | (324 | ) |  | (22,352 | ) |  | 10,325 |
Change in non-current accrued taxes, net | 1,423 |  |  | (860 | ) |  | 6 |  |  | — |  |  | 569 |
Funding of qualified pension plans | (15,050 | ) |  | — |  |  | — |  |  | — |  |  | (15,050 | )
Change in restricted cash | — |  |  | (32 | ) |  | — |  |  | — |  |  | (32 | )
Other, net | (452 | ) |  | 923 |  |  | — |  |  | — |  |  | 471 |
Net cash flows from operating activities | 75,546 |  |  | 38,337 |  |  | 5,510 |  |  | 16,964 |  |  | 136,357 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Change in short-term investments, net | (50,000 | ) |  | — |  |  | — |  |  | — |  |  | (50,000 | )
Additions to plant and equipment | (65,708 | ) |  | (22,562 | ) |  | (2,323 | ) |  | — |  |  | (90,593 | )
Net cash flows from investing activities | (115,708 | ) |  | (22,562 | ) |  | (2,323 | ) |  | — |  |  | (140,593 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Proceeds from long-term debt | 275,000 |  |  | — |  |  | — |  |  | — |  |  | 275,000 |
Repayment of long-term debt | (150,000 | ) |  | — |  |  | — |  |  | — |  |  | (150,000 | )
Purchase of treasury stock | (100,000 | ) |  | — |  |  | — |  |  | — |  |  | (100,000 | )
Investment from (to) parent | 31,998 |  |  | (15,780 | ) |  | 746 |  |  | (16,964 | ) |  | — |
Payment for long-term debt issuance costs | (4,837 | ) |  | — |  |  | — |  |  | — |  |  | (4,837 | )
Payment of tax withholdings on equity- based payment arrangements | (4,831 | ) |  | — |  |  | — |  |  | — |  |  | (4,831 | )
Net cash flows from financing activities | 47,330 |  |  | (15,780 | ) |  | 746 |  |  | (16,964 | ) |  | 15,332 |
Increase (decrease) in cash | 7,168 |  |  | (5 | ) |  | 3,933 |  |  | — |  |  | 11,096 |
Cash at beginning of period | 11,105 |  |  | 5 |  |  | 1,469 |  |  | — |  |  | 12,579 |
Cash at end of period | $ | 18,273 |  |  | $ | — |  |  | $ | 5,402 |  |  | $ | — |  |  | $ | 23,675 |
Clearwater Paper Corporation Consolidating Statement of Cash Flows Twelve Months Ended December 31, 2012
(In thousands) | Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net earnings | $ | 54,754 |  |  | $ | 1,339 |  |  | $ | 278 |  |  | $ | 7,760 |  |  | $ | 64,131 |
Adjustments to reconcile net earnings to net cash flows from operating activities: |  |  |  |  |  |  |  |  |
Depreciation and amortization | 48,191 |  |  | 29,030 |  |  | 2,112 |  |  | — |  |  | 79,333 |
Non-cash adjustments to unrecognized taxes | 3,275 |  |  | — |  |  | — |  |  | — |  |  | 3,275 |
Deferred tax provision (benefit) | 9,840 |  |  | 4,009 |  |  | (188 | ) |  | (791 | ) |  | 12,870 |
Equity-based compensation expense | 9,703 |  |  | — |  |  | — |  |  | — |  |  | 9,703 |
Employee benefit plans | 9,366 |  |  | — |  |  | — |  |  | — |  |  | 9,366 |
Deferred issuance costs and discounts on long-term debt | 2,010 |  |  | — |  |  | — |  |  | — |  |  | 2,010 |
Disposal of plant and equipment, net | 622 |  |  | 1,381 |  |  | — |  |  | — |  |  | 2,003 |
Changes in working capital, net | 25,252 |  |  | 36,596 |  |  | (567 | ) |  | — |  |  | 61,281 |
Change in taxes receivable, net | (11,755 | ) |  | 593 |  |  | 334 |  |  | — |  |  | (10,828 | )
Excess tax benefits from equity-based payment arrangements | (15,837 | ) |  | — |  |  | — |  |  | — |  |  | (15,837 | )
Change in non-current accrued taxes, net | (242 | ) |  | 22 |  |  | 1,180 |  |  | — |  |  | 960 |
Funding of qualified pension plans | (20,627 | ) |  | — |  |  | — |  |  | — |  |  | (20,627 | )
Change in restricted cash | 769 |  |  | — |  |  | — |  |  | — |  |  | 769 |
Other, net | 548 |  |  | (264 | ) |  | — |  |  | — |  |  | 284 |
Net cash flows from operating activities | 115,869 |  |  | 72,706 |  |  | 3,149 |  |  | 6,969 |  |  | 198,693 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Change in short-term investments, net | 35,001 |  |  | — |  |  | — |  |  | — |  |  | 35,001 |
Additions to plant and equipment | (190,296 | ) |  | (11,632 | ) |  | (1,848 | ) |  | — |  |  | (203,776 | )
Cash paid for acquisitions, net of cash acquired | (9,264 | ) |  | — |  |  | — |  |  | — |  |  | (9,264 | )
Proceeds from the sale of assets | — |  |  | 1,035 |  |  | — |  |  | — |  |  | 1,035 |
Net cash flows from investing activities | (164,559 | ) |  | (10,597 | ) |  | (1,848 | ) |  | — |  |  | (177,004 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchase of treasury stock | (18,650 | ) |  | — |  |  | — |  |  | — |  |  | (18,650 | )
Investment from (to) parent | 75,198 |  |  | (66,463 | ) |  | (1,766 | ) |  | (6,969 | ) |  | — |
Payment for long-term debt issuance costs | (2 | ) |  | — |  |  | — |  |  | — |  |  | (2 | )
Payment of tax withholdings on equity-based payment arrangements | (13,234 | ) |  | — |  |  | — |  |  | — |  |  | (13,234 | )
Excess tax benefits from equity-based payment arrangements | 15,837 |  |  | — |  |  | — |  |  | — |  |  | 15,837 |
Other, net | (1,500 | ) |  | — |  |  | — |  |  | — |  |  | (1,500 | )
Net cash flows from financing activities | 57,649 |  |  | (66,463 | ) |  | (1,766 | ) |  | (6,969 | ) |  | (17,549 | )
Increase (decrease) in cash | 8,959 |  |  | (4,354 | ) |  | (465 | ) |  | — |  |  | 4,140 |
Cash at beginning of period | 2,146 |  |  | 4,359 |  |  | 1,934 |  |  | — |  |  | 8,439 |
Cash at end of period | $ | 11,105 |  |  | $ | 5 |  |  | $ | 1,469 |  |  | $ | — |  |  | $ | 12,579 |
Clearwater Paper Corporation Consolidating Statement of Cash Flows Twelve Months Ended December 31, 2011
(In thousands) | Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net earnings | $ | 36,307 |  |  | $ | (31,542 | ) |  | $ | (3,687 | ) |  | $ | 38,596 |  |  | $ | 39,674 |
Adjustments to reconcile net earnings to net cash flows from operating activities: |  |  |  |  |  |  |  |  |
Depreciation and amortization | 45,439 |  |  | 29,364 |  |  | 2,130 |  |  | — |  |  | 76,933 |
Deferred tax provision (benefit) | (2,394 | ) |  | 24,466 |  |  | (2,815 | ) |  | (4,480 | ) |  | 14,777 |
Equity-based compensation expense | 8,134 |  |  | — |  |  | — |  |  | — |  |  | 8,134 |
Employee benefit plans | 16,897 |  |  | — |  |  | — |  |  | — |  |  | 16,897 |
Deferred issuance costs and discounts on long-term debt | 215 |  |  | — |  |  | — |  |  | — |  |  | 215 |
Disposal of plant and equipment, net | 324 |  |  | 672 |  |  | 2 |  |  | — |  |  | 998 |
Changes in working capital, net | (133,142 | ) |  | 45,400 |  |  | 1,730 |  |  | — |  |  | (86,012 | )
Change in taxes receivable, net | (4,685 | ) |  | 1,939 |  |  | (217 | ) |  | 3,317 |  |  | 354 |
Excess tax benefits from equity-based payment arrangements | (885 | ) |  | — |  |  | — |  |  | — |  |  | (885 | )
Change in non-current accrued taxes, net | 2,453 |  |  | — |  |  | — |  |  | — |  |  | 2,453 |
Funding of qualified pension plans | (12,498 | ) |  | — |  |  | — |  |  | — |  |  | (12,498 | )
Change in restricted cash | 4,160 |  |  | — |  |  | — |  |  | — |  |  | 4,160 |
Other, net | 3,195 |  |  | — |  |  | — |  |  | — |  |  | 3,195 |
Net cash flows from operating activities | (36,480 | ) |  | 70,299 |  |  | (2,857 | ) |  | 37,433 |  |  | 68,395 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Change in short-term investments, net | 71,094 |  |  | — |  |  | — |  |  | — |  |  | 71,094 |
Additions to plant and equipment | (117,525 | ) |  | (16,088 | ) |  | (456 | ) |  | — |  |  | (134,069 | )
Proceeds from the sale of assets | 12,826 |  |  | — |  |  | — |  |  | — |  |  | 12,826 |
Net cash flows from investing activities | (33,605 | ) |  | (16,088 | ) |  | (456 | ) |  | — |  |  | (50,149 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Repayment of long-term debt | — |  |  | (15,595 | ) |  | — |  |  | — |  |  | (15,595 | )
Purchase of treasury stock | (11,350 | ) |  | — |  |  | — |  |  | — |  |  | (11,350 | )
Investment from (to) parent | 70,013 |  |  | (36,432 | ) |  | 3,852 |  |  | (37,433 | ) |  | — |
Payment for long-term debt issuance costs | (638 | ) |  | — |  |  | — |  |  | — |  |  | (638 | )
Payment of tax withholdings on equity-based payment arrangements | (2,400 | ) |  | — |  |  | — |  |  | — |  |  | (2,400 | )
Excess tax benefits from equity-based payment arrangements | 885 |  |  | — |  |  | — |  |  | — |  |  | 885 |
Other, net | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Net cash flows from financing activities | 56,512 |  |  | (52,027 | ) |  | 3,852 |  |  | (37,433 | ) |  | (29,096 | )
Effect of exchange rate changes | — |  |  | — |  |  | 361 |  |  | — |  |  | 361 |
Increase (decrease) in cash | (13,573 | ) |  | 2,184 |  |  | 900 |  |  | — |  |  | (10,489 | )
Cash at beginning of period | 15,719 |  |  | 2,175 |  |  | 1,034 |  |  | — |  |  | 18,928 |
Cash at end of period | $ | 2,146 |  |  | $ | 4,359 |  |  | $ | 1,934 |  |  | $ | — |  |  | $ | 8,439 |

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
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