RAYONIER ADVANCED MATERIALS INC
For the period ended Sep 28, 2024. Filed Nov 6, 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.
Sep 28, 2024 · Filed Nov 6, 2024
RYAM$5.61-1.4%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended | ||
|---|---|---|
| September 28, 2024 | September 30, 2023 | |
| Operating activities | ||
| Net loss | $(22,778) | $(40,243) |
| Adjustments to reconcile net loss to cash provided by operating activities: | ||
| Income from discontinued operations | (3,217) | (312) |
| Depreciation and amortization | 101,988 | 104,073 |
| Asset impairment | 25,169 | — |
| Stock-based compensation expense | 5,089 | 5,361 |
| Deferred income tax benefit | (5,793) | (8,130) |
| Net periodic benefit cost of pension and other postretirement plans | 3,018 | 3,060 |
| Unrealized (gain) loss on foreign currency | (1,124) | 564 |
| (Gain) loss on disposal of property, plant and equipment | 1,701 | (1,085) |
| Other | 10,012 | 6,133 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 617 | 42,865 |
| Income tax receivable | 19,723 | (3,742) |
| Inventories | (26,485) | 22,301 |
| Accounts payable | (9,309) | 5,545 |
| Accrued and other current liabilities | 8,391 | (31,732) |
| Duty refund rights | 40,111 | (1,946) |
| Other | 8,314 | (11,805) |
| Contributions to pension and other postretirement plans | (6,737) | (8,768) |
| Cash provided by operating activities | 148,690 | 82,139 |
| Investing activities | ||
| Capital expenditures, net of proceeds | (79,665) | (95,203) |
| Investment in equity method investment | — | (415) |
| Cash used in investing activities | (79,665) | (95,618) |
| Financing activities | ||
| Borrowings of long-term debt | 232,200 | 303,217 |
| Repayments of long-term debt | (238,394) | (397,087) |
| Short-term financing, net | (1,248) | (2,457) |
| Debt issuance costs | (1,875) | (10,082) |
| Repurchase of common stock | (661) | (5,363) |
| Cash used in financing activities | (9,978) | (111,772) |
| Net increase (decrease) in cash and cash equivalents | 59,047 | (125,251) |
| Net effect of foreign exchange on cash and cash equivalents | 1,276 | 575 |
| Balance, beginning of period | 75,768 | 151,803 |
| Balance, end of period | $136,091 | $27,127 |
| Supplemental cash flow information: | ||
| Interest paid | $(71,243) | $(50,306) |
| Income taxes refunded (paid), net | 19,608 | (7,215) |
| Capital assets purchased on account | 25,575 | 31,706 |
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