XML 58 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ 24,466 $ (32,135) $ 36,879
Adjustments for noncash items:      
Depreciation 28,494 30,909 35,423
Amortization of intangibles 3,978 4,073 5,395
Goodwill, Impairment Loss 0 44,465 0
Deferred income taxes (3,689) (10,523) (11,489)
Accrued pension and postretirement benefits 11,047 12,521 6,974
(Gain) loss on an investment accounted for under the fair value method (1,600) 20,500 (2,000)
Loss on asset impairments 1,436 403 993
(Gain) loss on sale of assets (220) (11) (1,031)
Insurance Recoveries (1,634) 0 0
Changes in assets and liabilities:      
Accounts and notes receivables 92 9,180 (18,696)
Inventories 1,127 1,137 (8,803)
Income taxes recoverable/payable (7,061) (1,849) (906)
Prepaid expenses and other (1,914) (1,256) 496
Accounts payable and accrued expenses 161 (2,455) 5,554
Pension and Other Postretirement Benefit Contributions (8,061) (2,709) (3,108)
Other, net 2,250 2,006 5,554
Net cash provided by operating activities 48,872 74,256 51,235
Cash flows from investing activities:      
Capital expenditures (45,457) (32,831) (44,898)
Proceeds from Divestiture of Businesses 0 0 4,500
Proceeds from Insurance Settlement, Investing Activities 1,156 0 0
Payments of Financing Costs (2,606) (78) (29)
Proceeds from the sale of assets and other 2,308 1,416 2,125
Net cash used in investing activities (41,993) (31,415) (38,273)
Cash flows from financing activities:      
Borrowings 96,750 107,000 116,000
Debt principal payments (105,750) (140,250) (117,750)
Dividends paid (14,456) (13,725) (11,007)
Proceeds from exercise of stock options and other 2,313 2,858 410
Net cash used in financing activities (23,749) (44,195) (12,376)
Effect of exchange rate changes on cash 2,225 (4,546) (3,147)
Decrease in cash and cash equivalents (14,645) (5,900) (2,561)
Cash and cash equivalents at beginning of period 44,156 [1] 50,056 52,617
Cash and cash equivalents at end of period 29,511 [1] 44,156 [1] 50,056
Supplemental cash flow information:      
Interest payments 3,074 3,508 3,320
Income tax payments (refunds), net $ 15,406 $ 20,118 $ 20,890
[1] Information on exports and foreign operations are provided on the previous page. Cash and cash equivalents includes funds held in locations outside the U.S. of $23.8 million and $27.7 million at December 31, 2016 and 2015, respectively. Export sales relate almost entirely to PE Films. Operations outside the U.S. in The Netherlands, Hungary, China and India also relate to PE Films. Operations in Brazil are primarily related to Flexible Packaging Films, but also include PE Films operations. Sales from locations in The Netherlands and Hungary are primarily to customers located in Europe. Sales from locations in China (Guangzhou and Shanghai) are primarily to customers located in China, but also include other customers in Asia.