Clearwater Paper Corp
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
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Other Operating Charges, net
NOTE 10 Other Operating Charges, net
The major components of “Other operating charges, net” in the Consolidated Statements of Operations are:
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Acquisition related costs | $14.1 | $1.9 | $— |
| Integration costs | 8.0 | — | — |
| Loss on sale or impairment associated with assets | 1.5 | 0.1 | 1.5 |
| Directors' equity-based compensation expense | (0.4) | 0.9 | 0.9 |
| Other | 0.8 | 0.3 | 0.7 |
| $24.0 | $3.2 | $3.2 | |
During 2024, we recorded $24.0 million of expense in "Other operating charges, net." The main components of the expense include:
expense of $14.1 million associated with acquisition activities (primarily legal and professional services);
expense of $8.0 million associated with integration activities (primarily professional services);
loss of $1.5 million associated with the impairment of equipment and related spare parts no longer being used; and
reversal of expense of $0.4 million relating to directors' equity-based compensation which is remeasured each period based upon changes in our stock price.
During 2023, we recorded $3.2 million expense in "Other operating charges, net." The components of the expense include:
expense of $1.9 million related to acquisition activities and other expenses including consulting and legal fees associated with our efforts to achieve long-term performance improvements;
loss of $0.1 million associated with the impairment of fixed assets; and
expense of $0.9 million relating to directors' equity-based compensation which is remeasured each period based upon changes in our stock price.
During 2022, we recorded $3.2 million of expense in "Other operating charges, net." The components of the expense include:
loss of $1.5 million associated with the impairment of fixed assets; and
expense of $0.9 million relating to directors' equity-based compensation which is remeasured each period based upon changes in our stock price.
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