Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income (loss) $ 58,563,000 $ (79,158,000) $ 11,427,000
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation 124,551,000 89,453,000 28,790,000
Amortization 52,589,000 38,836,000 10,210,000
Acquisition accounting valuation adjustments on inventory sold 871,000 29,086,000 0
Intangible asset impairment charge 0 6,873,000 0
Amortization of deferred financing costs and original issue discount 8,733,000 6,859,000 3,115,000
Debt extinguishment costs 15,007,000 8,561,000 0
Debt modification creditor fees capitalized (2,756,000) (2,988,000) 0
Foreign currency exchange (gain) loss 25,786,000 (3,558,000) 0
Pension and postretirement healthcare benefit expense 3,289,000 1,957,000 2,900,000
Pension and postretirement healthcare benefit funding (7,887,000) (2,887,000) (14,937,000)
Deferred income tax benefit (140,212,000) (138,000) 0
Net loss on asset disposals 5,793,000 4,216,000 3,911,000
Supplemental pension plan mark-to-market gain (965,000) (300,000) 0
Stock compensation 8,799,000 5,432,000 2,256,000
Equity in net (income) loss from affiliated companies (38,772,000) 2,612,000 0
Dividends received from affiliated companies 44,071,000 7,636,000 0
Working capital changes that provided (used) cash, excluding the effect of business combinations:      
Receivables (11,463,000) 27,757,000 (280,000)
Inventories (21,200,000) (2,305,000) (1,738,000)
Prepaids and other current assets (3,434,000) 548,000 20,096,000
Accounts payable 4,343,000 11,885,000 (2,486,000)
Accrued liabilities (6,548,000) (23,866,000) (13,809,000)
Other, net (3,096,000) (6,791,000) (4,740,000)
Net cash provided by operating activities 116,062,000 119,720,000 44,715,000
Cash flows from investing activities:      
Purchases of property, plant and equipment (140,482,000) (121,421,000) (40,994,000)
Investment in affiliated companies (9,000,000) 0 0
Change in restricted cash, net 13,432,000 (14,786,000) 0
Loan receivable under the New Markets Tax Credit Arrangement (6,221,000) (15,598,000) 0
Business combinations, net of cash acquired (41,572,000) (1,777,740,000) 3,965,000
Other, net 1,148,000 (135,000) (1,696,000)
Net cash used in investing activities (182,695,000) (1,929,680,000) (38,725,000)
Cash flows from financing activities:      
Draw down of revolver 357,773,000 145,000,000 12,000,000
Repayments of revolver (334,180,000) (167,000,000) (12,000,000)
Issuance of long-term debt under the New Market Tax Credit arrangement 8,820,000 22,000,000 0
Issuance of long-term debt, net of original issue discount and financing fees 300,000,000 1,219,791,000 0
Issuance of long-term notes, net of original issue discount and financing fees 0 1,124,629,000 0
Debt issuance costs (3,700,000) (5,397,000) 0
Repayments of long-term debt (739,472,000) (479,059,000) (5,000,000)
IPO proceeds 507,500,000 0 0
IPO costs (26,804,000) 0 0
Interest hedge premium 0 (1,551,000) 0
Equity contribution 0 6,600,000 1,538,000
Stock repurchase 0 (2,540,000) 0
Distributions to noncontrolling interests (993,000) (1,040,000) 0
Net cash provided by (used in) financing activities 68,944,000 1,861,433,000 (3,462,000)
Effect of exchange rate changes on cash and cash equivalents (6,858,000) (5,886,000) 0
Net change in cash and cash equivalents (4,547,000) 45,587,000 2,528,000
Cash and cash equivalents at beginning of period 70,742,000 25,155,000 22,627,000
Cash and cash equivalents at end of period $ 66,195,000 $ 70,742,000 $ 25,155,000