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Consolidated Statements Of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities:      
Net income (loss) $ (75,444) $ 48,259 $ 24,842
Adjustments for noncash items:      
Depreciation 28,940 30,683 29,828
Amortization of identifiable intangibles 3,017 13,601 3,976
Goodwill and Intangible Asset Impairment 13,696 0 46,792
Amortization of Leased Asset 2,753 2,588 0
Deferred income taxes (16,892) 5,856 8,626
Accrued pension and postretirement benefits 14,720 9,642 10,406
(Gain) loss on investment in kaléo accounted for under the fair value method 60,900 (10,900) (30,600)
Loss on sale of divested businesses 52,326 0 0
Net gain on disposal of assets 0 (6,334) (46)
Changes in assets and liabilities:      
Accounts and other receivables (335) 16,471 (11,883)
Inventories (4,366) 11,315 (9,577)
Income taxes recoverable/payable 1,617 2,644 25,018
Prepaid expenses and other (2,203) 795 (1,924)
Accounts payable and accrued expenses 4,045 (2,937) 5,571
Short-term Lease Payments (3,049) (2,723) 0
Payment for Pension and Other Postretirement Benefits (12,681) (8,614) (8,907)
Other, net 7,329 5,517 5,672
Net cash provided by operating activities 74,373 115,863 97,794
Cash flows from investing activities:      
Capital expenditures (23,355) (50,864) (40,814)
Proceeds from Previous Acquisition   0 4,250
Proceeds from Divestiture of Businesses 56,236 0 0
Payments for (Proceeds from) Investments 0 0 1,384
Payments of Financing Costs (693) (1,817) 0
Payment, Tax Withholding, Share-based Payment Arrangement (850) (854) (328)
Proceeds from the sale of assets and other 0 10,936 1,098
Net cash provided by (used in) investing activities 32,881 (39,928) (34,082)
Cash flows from financing activities:      
Borrowings 162,250 65,500 76,750
Debt principal payments (70,250) (125,000) (127,250)
Dividends paid (216,049) (15,325) (14,592)
Proceeds from exercise of stock options and other 0 184 1,332
Net cash provided by (used in) financing activities: (125,592) (77,312) (64,088)
Effect of exchange rate changes on cash (1,238) (1,598) (1,718)
Increase (decrease) in cash and cash equivalents (19,576) (2,975) (2,094)
Cash and cash equivalents at beginning of period 31,422 34,397 36,491
Cash and cash equivalents at end of period 11,846 31,422 34,397
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 11,846 [1] 31,422 [1] 34,397
Supplemental cash flow information:      
Interest payments 1,679 4,358 5,421
Income tax payments (refunds), net $ 1,670 $ 2,595 $ (24,020)
[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.