XML 77 R57.htm IDEA: XBRL DOCUMENT v3.20.4
Business Segments (Schedule Of Segment Reporting Information By Segment) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenue from External Customer [Line Items]                        
Total net sales [1]                 $ 729,604 $ 797,344 $ 824,664  
Goodwill, Impairment Loss                 (13,696) 0 0  
Total                 85,769 86,123 83,972  
Interest income                 44 66 146  
Interest expense                 2,587 4,051 5,702  
Gain (loss) on investment accounted for under the fair value method                 (60,900) 10,900 30,600  
Stock option-based compensation expense                 2,161 4,132 1,156  
Corporate expenses, net [2]                 42,912 34,482 27,265  
Income (loss) from continuing operations before income taxes                 (25,046) 72,006 80,371  
Income tax expense (benefit) [2]                 (8,213) 13,545 18,807  
Income (loss) from continuing operations $ 6,475 $ (16,976) $ 14,332 $ (20,663) $ 990 $ 15,052 $ 19,871 $ 22,548 (16,833) 58,461 61,564  
Net income (loss) 895 (65,213) 11,196 (22,321) (3,136) 17,133 14,477 19,785 (75,444) 48,259 24,842  
Cash and cash equivalents 11,846       31,422       11,846 31,422 34,397 $ 36,491
Cost of Goods and Services Sold                 558,967 641,140 679,665  
Sales 192,524 184,370 186,260 192,136 198,313 205,968 214,095 207,948 755,290 826,324 851,834  
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal                 (2,299) 0 0  
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax (5,580) $ (48,237) $ (3,136) $ (1,658) (4,126) $ 2,081 $ (5,394) $ (2,763) $ (58,611) (10,202) (36,722)  
Schedule Of Segment Reporting Information By Segment                
Net Sales
(In thousands)202020192018
Aluminum Extrusions$455,711 $529,602 $573,126 
PE Films139,288 133,807 127,708 
Flexible Packaging Films134,605 133,935 123,830 
Total net sales729,604 797,344 824,664 
Add back freight25,686 28,980 27,170 
Sales as shown in consolidated statements of income$755,290 $826,324 $851,834 
Refer to Notes to Financial Tables that follow these tables.
EBITDA from Ongoing Operations
(In thousands)202020192018
Aluminum Extrusions:
Ongoing operations:
EBITDA$55,137 $65,683 $65,479 
Depreciation & amortization (d)(17,403)(16,719)(16,866)
EBIT37,734 48,964 48,613 
Plant shutdowns, asset impairments, restructurings and other (a)(3,506)(561)(505)
Goodwill impairment charge(13,696)— — 
Trade name accelerated amortization (d) (10,040)— 
PE Films:
Ongoing operations:
EBITDA45,107 41,133 32,404 
Depreciation & amortization(6,762)(5,860)(6,201)
EBIT38,345 35,273 26,203 
Plant shutdowns, asset impairments, restructurings and other (a)(1,974)(733)(186)
Flexible Packaging Films:
Ongoing operations:
EBITDA30,645 14,737 11,154 
Depreciation & amortization(1,761)(1,517)(1,262)
EBIT28,884 13,220 9,892 
Plant shutdowns, asset impairments, restructurings and other (a)(18)— (45)
Total85,769 86,123 83,972 
Interest income44 66 146 
Interest expense2,587 4,051 5,702 
Gain (loss) on investment in kaléo accounted for under the fair value method (a)(60,900)28,482 30,600 
Loss on sale of Bright View (f)(2,299)— — 
Loss on sale of investment property (a) — (38)
Unrealized loss on investment property (a) — (186)
Stock option-based compensation expense2,161 4,132 1,156 
Corporate expenses, net (a)42,912 34,482 27,265 
Income (loss) from continuing operations before income taxes(25,046)72,006 80,371 
Income tax expense (benefit) (a)(8,213)13,545 18,807 
Income (loss) from continuing operations(16,833)58,461 61,564 
Income (loss) from discontinued operations, net of tax (a)(58,611)(10,202)(36,722)
Net income (loss)$(75,444)$48,259 $24,842 
     
Foreign Country                        
Revenue from External Customer [Line Items]                        
Cash and cash equivalents 9,400       8,900       $ 9,400 8,900    
Pension Benefits                        
Revenue from External Customer [Line Items]                        
Defined benefit pension plan net liability $ (103,084)       $ (100,434)       (103,084) (100,434)    
kaleo                        
Revenue from External Customer [Line Items]                        
Gain (loss) on investment accounted for under the fair value method [2]                 (60,900) 28,482 30,600  
Alleghany and Bath County, Virginia                        
Revenue from External Customer [Line Items]                        
Gain (Loss) on Disposition of Assets                 0 0 (38)  
Unrealized Gain (Loss) on Investment Property                 0 0 186  
PE Films [Member]                        
Revenue from External Customer [Line Items]                        
Total net sales                 139,288 133,807 127,708  
Plant shutdowns, asset impairments, restructurings and other [2]                 (1,974) (733) (186)  
Goodwill, Impairment Loss                 0 0    
Earnings before interest, taxes, depreciation and amortization (EBITDA)                 45,107 41,133 32,404  
Cost, Depreciation and Amortization                 6,762 5,860 6,201  
Earnings before interest and taxes (EBIT)                 38,345 35,273 26,203  
Aluminum Extrusions                        
Revenue from External Customer [Line Items]                        
Total net sales                 455,711 529,602 573,126  
Plant shutdowns, asset impairments, restructurings and other [2]                 (3,506) (561) (505)  
Goodwill, Impairment Loss                 (13,696) 0 0  
Impairment of Intangible Assets, Finite-lived                 0 (10,040) 0  
Earnings before interest, taxes, depreciation and amortization (EBITDA)                 55,137 65,683 65,479  
Cost, Depreciation and Amortization                 17,403 16,719 16,866  
Earnings before interest and taxes (EBIT)                 37,734 48,964 48,613  
Flexible Packaging Films [Member] [Domain]                        
Revenue from External Customer [Line Items]                        
Total net sales                 134,605 133,935 123,830  
Plant shutdowns, asset impairments, restructurings and other [2]                 (18) 0 (45)  
PET Films                        
Revenue from External Customer [Line Items]                        
Earnings before interest, taxes, depreciation and amortization (EBITDA)                 30,645 14,737 11,154  
Cost, Depreciation and Amortization                 1,761 1,517 1,262  
Earnings before interest and taxes (EBIT)                 28,884 13,220 9,892  
Shipping and Handling [Member]                        
Revenue from External Customer [Line Items]                        
Other Cost of Operating Revenue                 25,686      
Cost of Goods and Services Sold                 $ 25,686 $ 28,980 $ 27,170  
[1] Cash and cash equivalents includes funds held in locations outside the U.S. of $9.4 million and $8.9 million at December 31, 2020 and 2019, respectively. (c)Information on exports and foreign operations are provided on the previous page. Export sales relate almost entirely to PE Films. Operations in China relate to PE Films. Operations in Brazil relate to Flexible Packaging Films.
[2] See Notes 1, 2, 3, 4 and 17 for more information on losses associated with plant shutdowns, asset impairments and restructurings, unusual items, gains or losses from sale of assets, gains or losses on an investment accounted for under the fair value method and other items.