Clearwater Paper Corp
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 18, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Segment Disclosure
NOTE 19: SEGMENT DISCLOSURE
Our CEO is our CODM. Our CODM evaluates performance and makes operating decisions about allocating resources based on financial data presented on a consolidated basis. Because our CODM evaluates financial performance on a consolidated basis, we have determined that we have a single operating segment composed of the consolidated financial results of Clearwater Paper.
The measure used by our CODM to assess performance and make operating decisions is net income (loss) as reported on our consolidated statements of operations. This, in connection with other metrics, is used by our CODM to identify underlying trends in the performance of our business and make comparisons with the financial performance of our competitors. Our CODM also reviews total assets, as reported on our consolidated balance sheets, and purchases of property and equipment, as reported on our consolidated statements of cash flows.
Our CODM utilizes other key operating metrics, including disaggregated measures of net sales by product line, disaggregation of significant segment expenses and Adjusted EBITDA in order to assess our financial performance. Operating expenses are broken into categories for input costs (including raw materials and energy), supply chain costs (principally freight and outside warehouse costs) and labor and overhead related to our production facilities.
Our manufacturing facilities and all other assets are located within the continental United States. The CODM does not review assets on a more disaggregated basis than what is presented on the Consolidated Balance Sheets. We sell and ship our products to customers in several foreign countries. Net sales based on continuing operations, classified by major product lines and the major geographic areas in which our customers are located are reflected in the following table:
| December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Net Sales by product line: | |||
| Food Service | $664.6 | $540.4 | $404.8 |
| Folding carton | 578.9 | 580.2 | 437.5 |
| Sheeting and distribution | 150.4 | 160.1 | 157.8 |
| Pulp and other | 161.5 | 102.9 | 135.9 |
| Total net sales | $1,555.4 | $1,383.6 | $1,136.0 |
| Input cost (raw materials and energy) | 688.5 | 615.0 | 494.5 |
| Labor and overhead | 517.7 | 482.2 | 302.7 |
| Supply chain costs (principally freight) | 153.3 | 140.1 | 105.3 |
| Selling, general and administrative expenses | 96.7 | 112.7 | 114.7 |
| Goodwill impairment charge | 48.0 | — | — |
| Depreciation and amortization | 92.4 | 69.8 | 40.7 |
| Interest expense, net | 16.8 | 29.2 | 9.5 |
| Non-significant expenses | 2.0 | 35.7 | 2.9 |
| Income tax provision (benefit) | (7.1) | (27.1) | 16.9 |
| Income (loss) from continuing operations | $(53.0) | $(74.0) | $48.7 |
Non-significant expenses is primarily made up of other operating charges, net, changes in inventory and debt retirement charges.
Net sales, classified by major geographic area in which our customers are located, were as follows:
| December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Net Sales by geographical market: | |||
| United States | $1,418.2 | $1,252.5 | $1,028.4 |
| Rest of World | 137.2 | 131.2 | 107.6 |
| $1,555.4 | $1,383.6 | $1,136.0 | |
For the years ended December 31, 2025, 2024 and 2023, one customer was 11%,10% and 13% of our total consolidated net sales.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.