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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net (loss) income $ (23,997,000) $ 12,408,000
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 14,349,000 15,211,000
Postretirement and Pension benefits gains (14,577,000) 0
Deferred income taxes (13,472,000) 0
Impairment of fixed assets 1,243,000 0
Net gains from sales of assets (549,000) (23,662,000)
Net (gains) losses on derivative instruments (2,093,000) 4,075,000
Other adjustments 1,776,000 1,794,000
Change in operating assets and liabilities:    
Accounts receivable (818,000) (5,285,000)
Inventories (13,209,000) 1,804,000
Derivative assets/liabilities, net 1,761,000 1,965,000
Other assets 2,418,000 361,000
Accounts payable 12,430,000 (10,608,000)
Accrued expenses and other 3,971,000 (258,000)
Net cash used by operating activities (3,823,000) (2,195,000)
Cash flows from investing activities:    
Purchases of property, plant and equipment (9,636,000) (9,007,000)
Proceeds from sales of property, plant and equipment 1,926,000 35,247,000
Net cash (used) provided in investing activities (7,710,000) 26,240,000
Cash flows from financing activities:    
Proceeds from revolving credit facility 21,150,000 38,000,000
Repayments on revolving credit facility (61,150,000) (60,000,000)
Payments of finance lease obligations (9,000) (27,000)
Payment of financing costs (2,614,000) 0
Proceeds from stock option exercises 0 129,000
Net cash used by financing activities (42,623,000) (21,898,000)
Net (decrease) increase in cash and cash equivalents (54,156,000) 2,147,000
Cash and cash equivalents at beginning of period 60,013,000 6,983,000
Cash and cash equivalents at end of period 5,857,000 9,130,000
Supplemental disclosure of non-cash investing and financing activities:    
Non-cash additions to property, plant and equipment 380,000 284,000
Non-cash issuance of 401-K common stock 185,000 109,000
Cumulative preferred dividends, undeclared and unpaid $ 284,000 $ 275,000