7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2011-12-31 2011-09-30 2011-06-30 2011-03-31 2010-12-31 2010-09-30 2010-06-30 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2009-03-31 2008-09-30 2008-06-30 2008-03-31 2007-12-31 
      
    		                                   
      cash flows from (used in) operating activities
    		                                   
      net income
    		5,292,000 -63,732,000 -22,339,000 180,293,000 -4,626,000 -17,525,000 88,897,000 101,870,000 47,703,000 15,482,000 5,933,000 -24,780,000 15,956,000 -5,019,000 -3,392,000 -10,846,000 -9,052,000 -41,357,000 51,616,000                 
      adjustments to reconcile net income to cash flows from operating activities
    		                                   
      depreciation and amortization
    		1,989,000 -2,832,000 40,355,000 112,009,000 1,116,000 -1,088,000 32,116,000 97,884,000 2,360,000 988,000 30,967,000 97,037,000 1,683,000 -2,745,000 32,946,000 94,342,000 -96,000 1,901,000 30,247,000 42,112,000 -36,000 -209,000 14,138,000 42,176,000 14,040,824 -13,806,824 13,821,000         
      deferred income tax recovery
    		  -9,506,000                                 
      inventory impairment
    		9,400,000           17,998,000 1,470,000 796,000 5,734,000                     
      loss on disposal of investment in joint venture
    		                                   
      goodwill impairment
    		                                   
      defined benefit pension plans and other post-retirement benefit plan expense
    		-1,000 6,000 169,000 1,284,000 -15,000 1,000 438,000 1,952,000 23,000 -63,000 919,000 2,284,000 30,000 -23,000 762,000 2,583,000 6,000 4,000 856,000                 
      stock compensation expense
    		274,000 30,000 1,006,000 5,523,000 -303,000 568,000 949,000 1,389,000 30,000 365,000 610,000 33,000 929,000   1,857,000 -23,000 1,547,000 -345,000 3,005,000 -166,000 -1,597,000 2,068,000 1,854,000 539,773 -505,773 506,000 71,000 358,000 59,000 -33,000 6,000 61,000 146,000 -107,000 
      foreign exchange transaction losses
    		-12,841,000 943,000 8,418,000     -10,876,000 -7,687,000   9,888,000 -3,496,000   15,989,000 -18,378,000                   
      other
    		-996,000 1,384,000 1,628,000 3,004,000 -3,756,000 831,000 -801,000 1,228,000 -1,200,000 972,000 -616,000 2,344,000 -1,106,000 -198,000 -497,000 2,947,000 -4,753,000 7,199,000 441,000 949,000 -560,000 235,000 684,000 4,201,000 988,156 -1,002,156 1,003,000 1,724,000 -132,000 469,000 424,000 535,000 -370,000 -57,000 1,315,000 
      defined benefit pension plans and other post-retirement benefit plan contributions
    		   -2,431,000 689,000 -6,000 -1,194,000 -3,193,000 137,000 -279,000 -923,000 -3,381,000 14,000 118,000 -915,000 -3,267,000 -930,000 888,000 -1,158,000                 
      changes in working capital
    		                                   
      accounts receivable
    		-21,343,000 48,386,000 -16,798,000 -2,797,000 -83,188,000 117,636,000 -52,127,000 -90,138,000 -47,805,000 28,787,000 -12,423,000 -23,495,000 2,288,000 35,864,000 -20,926,000 -12,000 9,177,000 88,557,000 -56,353,000                 
      inventories
    		37,200,000 -10,284,000 -6,891,000 -54,381,000 4,539,000 -11,617,000 -1,725,000 -56,930,000 -17,548,000 -1,165,000 -20,799,000 -3,399,000 -19,473,000 29,562,000 -18,120,000 15,441,000 17,011,000 -28,910,000 21,141,000 6,063,000 -15,377,000 -12,712,000 4,313,000 1,543,000 -25,999,276 5,253,276 -5,259,000 29,760,000 -19,008,000 15,287,000 6,119,000 -11,364,000 -9,095,000 706,000 -7,554,000 
      accounts payable and accrued expenses
    		8,887,000 -40,478,000 28,432,000 32,473,000 30,510,000 4,380,000 -567,000 63,409,000 -17,987,000 25,731,000 4,436,000 -49,525,000 -12,098,000 65,539,000 -57,660,000 61,947,000 -20,888,000 4,370,000 -173,000 13,934,000 1,151,000 -26,221,000 25,388,000 -4,903,000 1,808,623 -7,949,623 7,955,000 -4,645,000 -13,466,000 21,942,000 -6,781,000 -20,987,000 28,561,000 -11,380,000 -2,307,000 
      prepaid expenses and other
    		-44,032,000 46,166,000 -27,463,000                                 
      net cash from operating activities
    		-25,528,000 -1,537,000 -2,989,000 274,000,000 -67,881,000 85,731,000 68,810,000 142,070,000 -41,008,000 50,864,000 30,288,000 13,077,000 -35,617,000 133,947,000 -69,842,000 187,422,000 -31,860,000 46,535,000 42,186,000 110,520,000 -31,842,000 -42,452,000 74,829,000 52,514,000 38,747,771 -1,699,771 1,717,000 32,018,000 -24,193,000 28,692,000 802,000 -8,694,000 2,181,000 3,624,000 14,810,000 
      capex
    		-5,686,000 -4,249,000 -20,082,000 -130,188,000 -1,526,000 -13,735,000 -33,293,000 -121,134,000 23,818,000 -36,862,000 -25,262,000 -63,879,000 6,905,000 1,474,000 -23,018,000 -94,985,000 -12,070,000 -5,590,000 -19,389,000 -27,512,000 -2,541,000 313,000 -8,069,000 -29,816,000 -8,469,458 5,835,458 -5,850,000 -24,834,000 3,841,000 -129,000 -7,706,000 -4,410,000 -1,857,000 -3,002,000 -2,160,000 
      free cash flows
    		-31,214,000 -5,786,000 -23,071,000 143,812,000 -69,407,000 71,996,000 35,517,000 20,936,000 -17,190,000 14,002,000 5,026,000 -50,802,000 -28,712,000 135,421,000 -92,860,000 92,437,000 -43,930,000 40,945,000 22,797,000 83,008,000 -34,383,000 -42,139,000 66,760,000 22,698,000 30,278,313 4,135,687 -4,133,000 7,184,000 -20,352,000 28,563,000 -6,904,000 -13,104,000 324,000 622,000 12,650,000 
      cash flows from (used in) investing activities
    		                                   
      purchase of property, plant and equipment
    		-5,686,000 -4,249,000 -20,082,000 -130,188,000 -1,526,000 -13,735,000 -33,293,000 -121,134,000 23,818,000 -36,862,000 -25,262,000 -63,879,000 6,905,000 1,474,000 -23,018,000 -94,985,000 -12,070,000 -5,590,000 -19,389,000 -27,512,000 -2,541,000 313,000 -8,069,000 -29,816,000 -8,469,458 5,835,458 -5,850,000 -24,834,000 3,841,000 -129,000 -7,706,000 -4,410,000 -1,857,000 -3,002,000 -2,160,000 
      proceeds from sale of property, plant and equipment
    		                                   
      proceeds from government grants
    		-1,257,000      1,067,000 8,972,000   8,532,000     6,320,000   6,320,000 9,729,000 -367,000 725,000 4,112,000 11,174,000 6,776,856 -9,413,856 9,415,000         
      net cash from investing activities
    		-4,840,000 -2,913,000 -19,860,000 -121,325,000 -182,798,000 -94,764,000 -26,790,000 -101,506,000 -43,262,000 -16,062,000 -26,297,000 -67,094,000 28,104,000 2,568,000 -23,405,000 -102,256,000 -11,862,000 -5,274,000 -19,966,000 -35,631,000 -3,333,000 -34,000 -7,320,000 -27,809,000 -8,226,199 5,533,199 -5,547,000 -15,221,000 7,593,000 -9,625,000 2,013,000 9,905,000   -382,000 
      cash flows from (used in) financing activities
    		                                   
      proceeds from (repayment of) revolving credit facilities
    		17,668,000   16,265,000 112,131,000 -43,570,000 30,504,000 -37,363,000 46,009,000 -26,972,000 -15,070,000 43,901,000 34,401,000 -76,911,000 51,260,000   8,940,000 -33,672,000                 
      dividend payments
    		-9,000   -14,885,000 -2,000   -12,874,000 -4,000   -17,610,000   -9,047,000 -26,254,000 -819,000                   
      payment of finance lease obligations
    		-2,467,000 103,000 -2,508,000 -8,363,000 31,000 3,264,000 -4,935,000                             
      net cash from financing activities
    		14,222,000 -22,514,000 19,246,000 -8,622,000 110,007,000 -44,029,000 24,609,000 -7,216,000 45,875,000 -79,575,000 31,412,000 22,151,000 31,514,000 -59,598,000 32,250,000 17,080,000 29,025,000 -11,284,000 -28,723,000 -44,121,000 -20,142,000 45,945,000 -41,746,000 -2,000,000 -4,134,931 -154,069 161,000 3,395,000 -16,208,000 3,946,000 -4,482,000 -25,069,000 25,766,000 -17,529,000  
      effect of exchange rate changes on cash and cash equivalents
    		2,723,000 -4,558,000 151,000 -3,024,000 -1,091,000 -2,877,000 -1,534,000 -3,032,000 3,140,000 239,000 -1,418,000 -367,000 1,437,000 4,450,000 -3,562,000  -1,814,000 1,368,000 -754,000 -681,000 2,726,000 876,000 -1,544,000 2,045,000 -3,419,094 -1,066,906 1,070,000 -528,000 1,119,000 -933,000 451,000 2,782,000 -2,413,000 834,000 -100,000 
      net decrease in cash and cash equivalents
    		-13,423,000 -31,522,000 -3,452,000            -64,559,000    -7,257,000              28,673,000 -15,113,000  
      cash and cash equivalents, beginning of period
    		-34,974,000 -3,452,000 184,925,000  9,156,000 65,095,000 345,610,000  -10,549,000 33,985,000 361,098,000  16,808,000 -64,559,000 351,085,000  24,088,000 -7,257,000 240,491,000  28,554,000 24,219,000 99,022,000 -10,854,000 62,096,308 -51,242,308 51,291,000 -19,648,000 20,864,000 -1,216,000 42,452,000 13,560,000 -15,113,000 84,848,000  
      cash and cash equivalents, end of period
    		-48,397,000 -34,974,000 181,473,000  -132,607,000 9,156,000 410,705,000  -45,804,000 -10,549,000 395,083,000  42,246,000 16,808,000 286,526,000  7,577,000 24,088,000 233,234,000                 
      deferred income tax provision
    		   6,383,000 -6,004,000 -1,759,000 8,383,000 13,786,000 3,729,000 72,000 1,204,000 -10,994,000 489,000 -3,413,000 -1,331,000 -6,167,000 -2,132,000 -3,213,000 3,639,000                 
      proceeds from revolving credit facilities
    		  21,754,000                                 
      impairment of sandalwood business held for sale
    		                                   
      acquisition, net of cash acquired
    		                                   
      property insurance proceeds
    		                                   
      purchase of term deposit
    		                                   
      proceeds from sale of term deposit
    		                                   
      redemption of senior notes
    		          -824,557,000                         
      proceeds from issuance of senior notes
    		          875,000,000                         
      payment of debt issuance costs
    		   -2,022,000   -1,184,000    -14,414,000     -3,844,000 -121,000 261,000 -509,000                 
      net increase in cash and cash equivalents
    		     -55,939,000 65,095,000 30,316,000 -35,255,000 -44,534,000 33,985,000 -32,233,000 25,438,000    -16,511,000   30,087,000 -52,591,000 4,335,000 24,219,000 24,750,000 22,967,547 2,612,453 -2,599,000 19,664,000 -31,689,000 22,080,000 -1,216,000    14,370,000 
      cash and cash equivalents, beginning of year
    		                                   
      cash and cash equivalents, end of year
    		                                   
      supplemental cash flow disclosure:
    		                                   
      cash paid for interest
    		                  16,983,000                 
      cash paid for income taxes
    		                  23,613,000                 
      supplemental schedule of non-cash investing and financing activities:
    		                                   
      leased production and other equipment
    		                                   
      loss on early extinguishment of debt
    		          30,368,000                         
      gain on sale of investments
    		           -2,097,000                        
      acquisitions, net of cash acquired
    		   763,000                                
      purchase of amortizable intangible assets
    		   -426,000 -44,000 35,000 -60,000 -925,000 108,000 73,000 -641,000 -617,000 59,000 349,000 -438,000                     
      purchase of investments
    		                                   
      proceeds from sale of investments
    		           5,370,000                        
      foreign exchange transaction gains
    		      -3,828,000    -8,606,000    -6,144,000                     
      insurance proceeds
    		      6,410,000 20,010,000 -18,518,000                           
      acquisitions
    		                                   
      repurchase of common shares
    		              -162,000                     
      acquisition of mercer mass timber
    		                                   
      payment of note issuance costs
    		                                   
      loss on settlement of debt
    		                                   
      stock compensation recovery
    		              -46,000                     
      payment of interest rate derivative liability
    		                                   
      effect of exchange rate changes on cash, cash equivalents and restricted cash
    		                                   
      net increase in cash, cash equivalents and restricted cash
    		                                   
      cash, cash equivalents and restricted cash, beginning of year
    		                                   
      cash, cash equivalents and restricted cash, end of year
    		                                   
      purchase of intangible assets
    		                -36,000 137,000 -316,000                 
      supplemental cash flow disclosure
    		                                   
      supplemental schedule of non-cash investing and financing activities
    		                                   
      leased production equipment
    		                                   
      defined benefit pension plan and other post-retirement benefit plan expense
    		                                   
      defined benefit pension plan and other post-retirement benefit plan contributions
    		                                   
      acquisition of friesau facility
    		                                   
      repurchase of notes and repayment of debt
    		                                   
      proceeds from issuance of notes
    		                                   
      unrealized (gain) loss on derivative instruments
    		                            10,778,000 -22,464,000 15,013,000     
      deferred income tax benefit
    		                                   
      foreign exchange loss on intercompany debt
    		                                   
      proceeds from issuance of shares
    		                                   
      payment-in-kind note issued to acquire noncontrolling interest
    		                                   
      gain on settlement of debt
    		                                   
      deferred income taxes
    		                   -3,944,000 -573,000   -378,000    -5,933,000 1,818,000 1,143,000 -3,031,000 -14,066,000 6,718,000 1,204,000 2,185,000 
      foreign exchange (gain) loss on intercompany debt
    		                                   
      restricted cash
    		                                   
      repayment of debt and repurchase of notes
    		                                   
      proceeds from issuance of notes and borrowings of debt
    		                                   
      dividend payment
    		                                   
      repayment of capital lease obligations
    		                   -2,166,000 -138,000 217,000 -855,000 -2,282,000 -637,397 1,003,397 -1,004,000 -2,268,000 -374,000 146,000 -682,000 494,000 444,000 -638,000 -1,340,000 
      proceeds from sale and lease-back transactions
    		                                   
      unrealized gain on derivative instruments
    		                                   
      foreign exchange (gain) loss on debt
    		                      -1,111,000 16,053,000 -9,936,371 -5,221,629 5,231,000 1,087,000 1,391,000 -9,586,000 4,416,000     
      pension and other post-retirement expense
    		                            5,000 6,000 331,000 6,000 -24,000 515,000 440,000 
      defined pension plan contributions
    		                                   
      receivables
    		                   7,848,000 -14,975,000 -1,654,000 7,177,000 -59,629,000 19,619,798 17,115,202 -17,144,000 27,650,000 -273,000 -15,681,000 20,409,000 25,197,000 -3,012,000 -3,833,000 7,424,000 
      proceeds on maturity of marketable securities
    		                                   
      proceeds from (repayment of) credit facilities
    		                      -14,652,000 1,397,000            
      pension and other post-retirement expense, net of funding
    		                   -174,000 -102,000 21,000 -14,000 322,000 95,862 -193,862 194,000         
      proceeds on sale of property, plant and equipment
    		                   -751,000 1,537,000 -326,000 353,000 1,110,000 27,838 -386,838 387,000 325,000 8,000 -26,000 129,000 -382,000 -307,000 960,000 343,000 
      purchase of marketable securities
    		                   -8,169,000                
      note receivable
    		                   801,000 1,689,000 -21,000 396,000             
      repayment of debt and purchase of notes
    		                                   
      purchase of treasury shares
    		                   1,000                
      foreign exchange gain on debt
    		                   -1,356,000 523,000               
      loss on extinguishment of debt
    		                                   
      repayment of notes payable and debt
    		                   -37,033,000   -30,351,000 -228,387,000   -8,250,000 -2,522,000   -13,800,000   -16,891,000 146,000 
      proceeds from borrowings of note payable and debt
    		                                   
      net income attributable to common shareholders
    		                                   
      adjustments to reconcile net income attributable to common shareholders to cash flows from operating activities
    		                                   
      gain on derivative instruments
    		                   -9,066,000 8,145,000 14,582,000 -12,243,000 -1,414,000 -489,462 -6,541,538 6,546,000         
      gain on extinguishment of debt
    		                   2,000                
      accretion expense
    		                   765,000 -457,000 -181,000 470,000 1,381,000            
      noncontrolling interest
    		                   4,769,000 -2,304,000 -3,081,000 4,547,000 3,353,000 5,112,446 3,672,554 -3,669,000 -7,999,000 -1,940,000 9,264,000 -9,261,000     
      changes in current assets and liabilities
    		                                   
      cash, restricted
    		                           9,469,000   9,469,000     
      proceeds from borrowings of notes payable and debt
    		                           1,642,000   10,000,000     
      repayment of credit facilities
    		                                   
      supplemental disclosure of cash flow information
    		                                   
      cash paid during the year for
    		                                   
      interest
    		                                   
      income taxes
    		                      301,000             
      acquisition of production and other equipment under capital lease obligations
    		                                   
      decrease (increase) in accounts payable relating to investing activities
    		                      55,000             
      increase in accounts receivable and other current assets relating to investing activities
    		                                   
      cash paid during the period for
    		                                   
      inventory provisions
    		                              4,587,000     
      payment of deferred note issuance costs
    		                                   
      cash paid (received) during the period for
    		                                   
      gain on extinguishment of convertible notes
    		                          929,000         
      notes receivable
    		                        215,421 84,579 -84,000  213,000 -1,000 121,000     
      accretion income
    		                         -430,486 431,000         
      proceeds from government investment grants
    		                                   
      issuance of common shares
    		                                   
      increase in accounts payable relating to investing activities
    		                                   
      cash flows from (used in) operating activities:
    		                                   
      gain on sale of assets
    		                            -18,000 93,000 -59,000 113,000 1,086,000 -1,022,000  
      operating depreciation and amortization
    		                            -154,000 138,000 13,401,000 519,000 -607,000 14,121,000 14,397,000 
      non-operating amortization
    		                            -3,000 -1,000 66,000 0 -1,000 71,000 64,000 
      pension and other post-retirement benefit funding
    		                            316,000 3,000 -347,000 274,000 -227,000 -449,000 -820,000 
      cash flows from (used in) investing activities:
    		                                   
      cash flows from (used in) financing activities:
    		                                   
      proceeds from investment grants
    		                                   
      unrealized (gain) loss on derivatives
    		                                   
      minority interest
    		                               -6,726,000 6,619,000 -3,183,000 466,000 
      unrealized gains on derivatives
    		                                   
      unrealized foreign exchange gain on debt
    		                                5,793,000 -6,031,000  
      cash restricted
    		                                   
      decrease in construction costs payable
    		                                   
      unrealized loss on derivatives
    		                                 7,850,000  
      cash flows (used in) from investing activities:
    		                                   
      net cash (used in) from investing activities
    		                                 -2,042,000  
      cash flows used in financing activities:
    		                                   
      cash flows from operating activities
    		                                   
      unrealized (gains) losses on derivatives
    		                                   
      unrealized foreign exchange (gain) loss on debt
    		                                   
      loss on sale of assets
    		                                   
      impairment of investments
    		                                   
      income from equity investee
    		                                   
      proceeds from available-for-sale securities
    		                                   
      acquisition of celgar pulp mill
    		                                   
      purchases of available-for-sale securities
    		                                   
      proceeds from minority shareholders
    		                                   
      net cash (used in) from financing activities
    		                                   
      supplemental disclosure of cash flow information:
    		                                   
      cash paid during the period for:
    		                                   
      property, plant and equipment on acquisition of 7% interest in stendal
    		                                   
      acquisition of notes receivable on sale of paper assets
    		                                   
      common shares issued on acquisition of celgar mill
    		                                   
      cash flows from operating activities:
    		                                   
      issuance of shares of common stock
    		                                   
      cash flows (used in) from operating activities:
    		                                   
      net cash (used in) from operating activities
    		                                   
      cash flows (used in) from financing activities:
    		                                   
      common shares issued in satisfaction of floating rate note
    		                                   
      unrealized losses (gains) on derivatives
    		                                   
      proceeds from sale of properties
    		                                   
      deferred acquisition costs
    		                                   
      advances to equity method investments
    		                                   
      increase in construction costs payable
    		                                   
      impairment of investments and securities
    		                                   
      cash flows used in investing activities:
    		                                   
      proceeds from sale of assets
    		                                   
      cash flows from financing activities:
    		                                   
      realized losses on derivatives
    		                                   
      sale of properties
    		                                   
      sale of available-for-sale securities
    		                                   
      issuance of shares of beneficial interest
    		                                   
      note 1.
    		                                   
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.