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Consolidated Statements Of Cash Flows
$ in Thousands
12 Months Ended
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Cash flows from operating activities:      
Net income (loss) $ 57,826 $ (75,444) $ 48,259
Adjustments for noncash items:      
Depreciation 22,080 28,940 30,683
Amortization of identifiable intangibles 1,704 3,017 13,601
Goodwill and Intangible Asset Impairment 0 13,696 0
Amortization of Leased Asset 2,086 2,753 2,588
Deferred income taxes (4,944) (16,892) 5,856
Accrued pension and postretirement benefits 14,160 14,720 9,642
(Gain) loss on investment in kaléo 14,160 14,720 9,642
Employee Benefits and Share-based Compensation 5,167 5,402 7,293
Loss on sale of divested businesses 0 52,326 0
Gain (Loss) on Disposition of Assets 0 0 (6,334)
Changes in assets and liabilities:      
Accounts and other receivables (16,993) (335) 16,471
Inventories (23,132) (4,366) 11,315
Income taxes recoverable/payable 8,956 1,617 2,644
Prepaid expenses and other 3,612 (2,203) 795
Accounts payable and accrued expenses 19,835 4,045 (2,937)
Short-term Lease Payments (1,935) (3,049) (2,723)
Payment for Pension and Other Postretirement Benefits 5,687 12,681 8,614
Other, net 310 1,927 (1,776)
Net cash provided by operating activities 70,583 74,373 115,863
Cash flows from investing activities:      
Capital expenditures (27,361) (23,355) (50,864)
Proceeds from Sale of Investment Projects 47,062 0 0
Proceeds from Divestiture of Businesses 0 56,236 0
Proceeds from Sale of Other Assets, Investing Activities 4,749 0 10,936
Payments of Financing Costs 693 1,817
Net cash provided by (used in) investing activities 24,450 32,881 (39,928)
Cash flows from financing activities:      
Debt principal payments 75,500 162,250 65,500
Repayments of Long-term Lines of Credit 136,500 70,250 125,000
Dividends paid (16,167) (216,049) (15,325)
Other 325 (850) (670)
Net cash used in financing activities: (76,842) (125,592) (77,312)
Effect of exchange rate changes on cash 484 (1,238) (1,598)
Increase (decrease) in cash and cash equivalents 18,675 (19,576) (2,975)
Cash and cash equivalents at beginning of period 11,846 31,422 34,397
Cash and cash equivalents at end of period 30,521 11,846 31,422
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 30,521 [1] 11,846 [1] 31,422
Supplemental cash flow information:      
Interest payments 2,923 1,679 4,358
Income tax payments (refunds), net 4,706 1,670 2,595
kaleo      
Adjustments for noncash items:      
(Gain) loss on investment in kaléo (12,780) [2] 60,900 [2] (28,482) [2]
Gain (Loss) on Investments 12,462 (60,900) 10,900
Gain (Loss) on Investments $ 12,462 $ (60,900) $ 10,900
[1] Cash and cash equivalents includes funds held in locations outside the U.S. of $16.4 million and $9.4 million at December 31, 2021 and 2020, 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, 9, 15, 16 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.