Clearwater Paper Corp
For the period ended Mar 31, 2024. Filed Apr 29, 2024.
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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.
Mar 31, 2024 · Filed Apr 29, 2024
CLW$13.89+5.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| (unaudited) | Quarter Ended March 31, | |
|---|---|---|
| (In millions) | 2024 | 2023 |
| Operating activities | ||
| Net income | $17.2 | $23.8 |
| Adjustments to reconcile net income to net cash flows provided by (used in) operating activities: | ||
| Depreciation and amortization | 23.2 | 24.8 |
| Equity-based compensation expense | 3.3 | 1.9 |
| Deferred taxes | (1.6) | (1.3) |
| Defined benefit pension and other postretirement employee benefits | (0.9) | (0.5) |
| Loss on sale or impairment associated with assets | 0.2 | 1.1 |
| Changes in operating assets and liabilities: | ||
| (Increase) decrease in accounts receivable | 7.8 | (6.4) |
| (Increase) decrease in inventories | (8.2) | (22.3) |
| (Increase) decrease in other current assets | (2.3) | 0.4 |
| Increase (decrease) in accounts payable and accrued liabilities | 20.5 | (31.7) |
| Other, net | 0.1 | 1.0 |
| Net cash flows provided by (used in) operating activities | 59.2 | (9.1) |
| Investing activities | ||
| Additions to property, plant and equipment, net 1 | (18.5) | (21.5) |
| Net cash flows used in investing activities | (18.5) | (21.5) |
| Financing activities | ||
| Borrowings on long-term debt | — | 12.0 |
| Repayments of long-term debt | (23.5) | (12.2) |
| Taxes paid related to net share settlement of equity awards | (3.1) | (4.2) |
| Repurchases of common stock | (0.5) | (1.7) |
| Other, net | (0.4) | (0.1) |
| Net cash flows used in financing activities | (27.6) | (6.3) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 13.2 | (37.0) |
| Cash, cash equivalents and restricted cash at beginning of period | 42.0 | 54.4 |
| Cash, cash equivalents and restricted cash at end of period | $55.2 | $17.4 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for interest, net of amounts capitalized | $9.9 | $14.6 |
| Cash, cash equivalents, and restricted cash | ||
| Cash and cash equivalents | $55.2 | $16.7 |
| Restricted cash included in other current assets, net | — | 0.7 |
| Total cash, cash equivalents and restricted cash | $55.2 | $17.4 |
1 Capital expenditures of $10.3 million and $7.0 million that have not been paid as of March 31, 2024 and 2023 were excluded from the Statements of Cash Flows.
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