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Clearwater Paper Corp

For the period ended Sep 30, 2025. Filed Oct 28, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 28, 2025

CLW$13.89+5.1%Stored close · as of Nov 10, 2026

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Consolidated Statements of Cash Flows

(unaudited)

Nine Months Ended September 30,
(In millions)20252024
Operating activities
Net loss$(56.9)$(2.8)
Adjustments to reconcile net loss to net cash flows provided by operating activities:
Goodwill impairment48.0—
Depreciation and amortization68.778.3
Equity-based compensation expense4.17.2
Deferred taxes(7.0)(10.0)
Defined benefit pension and other postretirement employee benefits(0.3)(3.2)
Gain on business divestiture(1.1)—
Amortization of deferred debt costs1.72.0
Loss on sale or impairment associated with assets5.11.6
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable26.8(62.3)
Increase in inventories(25.3)(5.6)
Decrease in other current assets9.93.4
Increase (decrease) in accounts payable and accrued liabilities(65.0)89.8
Other, net(1.4)(1.9)
Net cash flows provided by operating activities7.396.5
Investing activities
Additions to property, plant and equipment, net 1(73.9)(83.6)
Acquisition of business—(708.2)
Adjustment to proceeds from business divestiture(12.1)—
Net cash flows used in investing activities(86.0)(791.8)
Financing activities
Borrowings on long-term debt72.0753.5
Repayments of long-term debt(18.5)(50.9)
Repurchases of common stock(17.2)(6.0)
Payments of debt issuance costs—(4.9)
Other, net(2.8)(2.7)
Net cash flows provided by financing activities33.5688.9
Decrease in cash and cash equivalents(45.2)(6.5)
Cash and cash equivalents at beginning of period79.642.0
Cash and cash equivalents at end of period$34.4$35.5
Supplemental disclosures of cash flow information:
Cash paid for interest, net of amounts capitalized$14.8$42.7
Cash paid for income taxes, net of refunds received$57.4$14.8

1 Capital expenditures of $11.8 million and $25.5 million that have not been paid as of September 30, 2025 and 2024 were excluded from the Statements of Cash Flows.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.