MERCER INTERNATIONAL INC
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
MERC$0.24-2.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEM ENTS OF CASH FLOWS
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from (used in) operating activities | |||
| Net income (loss) | $(85,141) | $(242,056) | $247,039 |
| Adjustments to reconcile net income (loss) to cash flows from operating activities | |||
| Depreciation and amortization | 170,793 | 172,502 | 144,153 |
| Deferred income tax provision (recovery) | (35,721) | (36,392) | 7,003 |
| Inventory impairment | 9,000 | 58,600 | — |
| Impairment of sandalwood business held for sale | — | 33,734 | — |
| Loss on disposal of investment in joint venture | 23,645 | — | — |
| Goodwill impairment | 34,277 | — | — |
| Defined benefit pension plans and other post-retirement benefit plan expense | 1,272 | 5,214 | 1,708 |
| Stock compensation expense | 3,859 | 5,922 | 6,737 |
| Foreign exchange transaction losses (gains) | (8,311) | 3,905 | (16,802) |
| Other | 2,087 | (5,092) | (1,241) |
| Defined benefit pension plans and other post-retirement benefit plan contributions | (675) | (1,152) | (2,942) |
| Changes in working capital | |||
| Accounts receivable | (32,094) | 52,507 | (20,476) |
| Inventories | 23,907 | (15,836) | (63,184) |
| Accounts payable and accrued expenses | (17,680) | (98,182) | 66,796 |
| Other | 986 | (2,679) | (8,131) |
| Net cash from (used in) operating activities | 90,204 | (69,005) | 360,660 |
| Cash flows from (used in) investing activities | |||
| Purchase of property, plant and equipment | (84,318) | (136,324) | (178,742) |
| Proceeds from sale of property, plant and equipment | 19,874 | 3,408 | 1,689 |
| Acquisition, net of cash acquired | — | (82,100) | (256,604) |
| Property insurance proceeds | 773 | 12,203 | 8,616 |
| Proceeds from government grants | 787 | 5,569 | 1,067 |
| Purchase of term deposit | — | — | (75,000) |
| Proceeds from sale of term deposit | — | — | 75,519 |
| Other | (4,108) | (2,623) | (1,155) |
| Net cash from (used in) investing activities | (66,992) | (199,867) | (424,610) |
| Cash flows from (used in) financing activities | |||
| Redemption of senior notes | (300,000) | — | — |
| Proceeds from issuance of senior notes | 206,000 | 200,000 | — |
| Proceeds from (repayment of) revolving credit facilities, net | (25,061) | 61,272 | 115,330 |
| Dividend payments | (20,060) | (19,950) | (19,847) |
| Payment of debt issuance costs | (4,515) | (4,865) | (3,871) |
| Payment of finance lease obligations | (8,918) | (7,785) | (10,003) |
| Other | (229) | (48) | (711) |
| Net cash from (used in) financing activities | (152,783) | 228,624 | 80,898 |
| Effect of exchange rate changes on cash and cash equivalents | 504 | 208 | (8,526) |
| Net increase (decrease) in cash and cash equivalents | (129,067) | (40,040) | 8,422 |
| Cash and cash equivalents, beginning of year | 313,992 | 354,032 | 345,610 |
| Cash and cash equivalents, end of year | $184,925 | $313,992 | $354,032 |
| Supplemental cash flow disclosure: | |||
| Cash paid for interest | $105,483 | $79,620 | $67,103 |
| Cash paid for income taxes | $22,494 | $63,551 | $86,037 |
| Supplemental schedule of non-cash investing and financing activities: | |||
| Leased production and other equipment | $11,906 | $3,310 | $— |
(90)
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