Wausau Paper Inactive 10-Q12 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	Apr. 30, 2014
Document and Entity Information	'	'
Entity Registrant Name	'WAUSAU PAPER CORP.	'
Entity Central Index Key	'0000105076	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	49,770,739
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS	'	'
Net sales	$77,507	$78,194
Cost of sales	69,298	66,918
Gross profit	8,209	11,276
Selling and administrative	12,867	15,085
Operating loss	-4,658	-3,809
Interest expense	-2,168	-2,328
Other income (expense), net	23	-15
Loss from continuing operations before income taxes	-6,803	-6,152
Credit for income taxes	-2,357	-2,420
Loss from continuing operations	-4,446	-3,732
Loss from discontinued operations, net of taxes	-454	-25,873
Net loss	-4,900	-29,605
Net loss per share - basic and diluted:	'	'
Continuing operations (in dollars per share)	($0.09)	($0.08)
Discontinued operations (in dollars per share)	($0.01)	($0.52)
Net loss (in dollars per share)	($0.10)	($0.60)
Weighted average shares outstanding - basic (in shares)	49,664	49,364
Weighted average shares outstanding - diluted (in shares)	49,664	49,364
Other comprehensive income	'	'
Retirement and other post-retirement plans, net of tax of $116 and $613 for the three months ended March 31, 2014 and 2013, respectively	189	1,000
Other comprehensive income	189	1,000
Comprehensive loss	($4,711)	($28,605)

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS	'	'
Retirement and other post-retirement plans, tax	$116	$613

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$5,488	$19,594
Receivables, net	25,613	29,106
Refundable income taxes	1,532	1,927
Inventories	41,160	35,718
Spare parts	11,179	10,607
Other current assets	2,561	2,243
Assets of discontinued operations - current	7,112	8,587
Total current assets	94,645	107,782
Property, plant, and equipment, net	296,859	298,964
Deferred income taxes	23,167	20,470
Other assets	53,583	54,347
Total Assets	468,254	481,563
Current liabilities:	'	'
Accounts payable	28,821	29,900
Deferred income taxes	10,164	10,118
Accrued and other liabilities	26,400	31,965
Liabilities of discontinued operations - current	1,412	1,894
Total current liabilities	66,797	73,877
Long-term debt	150,000	150,000
Post-retirement benefits	29,666	30,247
Pension	38,317	38,838
Other noncurrent liabilities	18,383	19,470
Noncurrent liabilities of discontinued operations	867	989
Total liabilities	304,030	313,421
Stockholders' equity	164,224	168,142
Total Liabilities and Stockholders' Equity	$468,254	$481,563

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS	'	'
Net cash used in operating activities	($7,325)	($9,463)
Cash flows from investing activities:	'	'
Capital expenditures	-6,834	-15,095
Proceeds from sale of assets	91	929
Net cash used in investing activities	-6,743	-14,166
Cash flows from financing activities:	'	'
Net payments of commercial paper	'	-29,200
Borrowings under credit agreement	'	53,500
Proceeds from stock option exercises	1,450	104
Dividends paid	-1,488	-1,481
Net cash (used in) provided by financing activities	-38	22,923
Net decrease in cash and cash equivalents	-14,106	-706
Cash and cash equivalents, beginning of period	19,594	4,044
Cash and cash equivalents, end of period	$5,488	$3,338

Description_of_the_Business

Description of the Business	3 Months Ended
Description of the Business	Mar. 31, 2014
Description of the Business	'
Description of the Business	'
	Note 1. Description of the Business

	Wausau Paper Corp. manufactures, converts, and sells a complete line of towel and tissue products that are marketed along with soap and dispensing systems for the industrial and commercial “away-from-home” market. We operate a paper mill located in Middletown, Ohio, and a paper mill and converting facility with a distribution warehouse in Harrodsburg, Kentucky. Our products are primarily sold within the United States and Canada.

	Wausau Paper Corp. formerly manufactured, converted, and sold specialty paper products for industrial and commercial end markets within the Paper segment. In January 2013, we announced our intent to focus our management efforts and future investments on our Tissue business. In March 2013, we permanently closed our Brainerd, Minnesota, mill and on June 26, 2013, completed the sale of our specialty paper business, ending our participation in the markets in which our former Paper segment competed. See Note 4 for further information regarding discontinued operations.

Basis_of_Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2014
Basis of Presentation	'
Basis of Presentation	'
	Note 2. Basis of Presentation

	The condensed consolidated financial statements include the results of Wausau Paper Corp. and our consolidated subsidiaries. The accompanying condensed consolidated financial statements, in the opinion of management, reflect all adjustments, which are necessary for a fair statement of the results for the periods presented. Results for the interim period are not necessarily indicative of future results. In all regards, the financial statements have been presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Refer to the notes to consolidated financial statements, which appear in the Annual Report on Form 10-K for the year ended December 31, 2013, for our accounting policies and other disclosures, which are pertinent to these statements.

	The results of operations of our former specialty paper business are reported as discontinued operations in the Condensed Consolidated Statements of Comprehensive Loss for all periods presented. The corresponding assets and liabilities of the discontinued operations in the Condensed Consolidated Balance Sheets have been reclassified in accordance with authoritative literature on discontinued operations for all periods presented. Also, in accordance with the authoritative literature, we have elected to not separately disclose the cash flows related to the discontinued operations. See Note 4 for further information regarding discontinued operations.

New_Accounting_Pronouncements

New Accounting Pronouncements	3 Months Ended
New Accounting Pronouncements	Mar. 31, 2014
New Accounting Pronouncements	'
New Accounting Pronouncements	'
	Note 3. New Accounting Pronouncements

	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11 “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists”. This guidance requires unrecognized tax benefits to be presented as a decrease in net operating loss, similar tax loss or tax credit carryforward if certain criteria are met. The guidance is to be applied prospectively beginning January 1, 2014. The adoption of ASU No. 2013-11 did not have an impact on our results of operations or financial position.

	On September 13, 2013, the Internal Revenue Service released final tangible property regulations under Sections 162(a) and 263(a) of the Internal Revenue Service Code (“IRC”) and proposed regulations under Section 168 of the IRC. These regulations generally apply to taxable years beginning on or after January 1, 2014 and affects all taxpayers that acquire, produce, or improve tangible property. We do not expect that the adoption of these regulations will have material impact on our Condensed Consolidated Financial Statements.

Restructuring_Discontinued_Ope

Restructuring, Discontinued Operations, and Other	3 Months Ended
Restructuring, Discontinued Operations, and Other	Mar. 31, 2014
Restructuring, Discontinued Operations, and Other	'
Restructuring, Discontinued Operations, and Other	'
	Note 4. Restructuring, Discontinued Operations, and Other

	We determined that as of June 30, 2013, the sale of the specialty paper business and the closure of the Brainerd mill, met the criteria for discontinued operations presentation as established in FASB Accounting Standards Codification (“ASC”) Subtopic 205-20, “Discontinued Operations”. The results of operations of the specialty paper business and Brainerd mills have been reported as discontinued operations in the Condensed Consolidated Statements of Comprehensive Loss for all periods presented. The corresponding assets and liabilities of the discontinued operations have been reclassified in accordance with authoritative literature on discontinued operations for all periods presented. The Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2014 and 2013 have not been adjusted to separately disclose cash flows related to discontinued operations.

	The sale of the specialty paper business and primarily all related assets and selected liabilities, excluding the Brainerd mill, closed on June 26, 2013. Pre-tax charges related to severance and benefits, contact termination, and other associated closure costs totaled $0.6 million for the three months ended March 31, 2014. There were no associated closure costs during the three month period ending March 31, 2013.

	In February 2013, we announced the planned closure of our Brainerd paper mill. The Brainerd mill permanently closed on March 29, 2013. Related pre-tax charges recorded for the three months ended March 31, 2014 were $0.2 million related to severance and benefit continuation costs and other associated closure costs. Pre-tax charges for the three months ended March 31, 2013 included accelerated depreciation on long lived assets of $35.7 million; inventory and spare parts write downs of $6.7 million; and other associated closure costs of $1.9 million. The sale of Brainerd mill inventory, not included within the sale of the specialty paper business, caused liquidation in individual LIFO inventory pools during the quarter ended March 31, 2014, resulting in pre-tax income of approximately $0.2 million. These impacts are included in loss from discontinued operations in the Condensed Consolidated Statements of Comprehensive Loss.

	At March 31, 2014, there was $7.1 million in current assets of discontinued operations, comprised primarily of $6.7 million in held for sale assets of the closed Brainerd mill. Also at March 31, 2014, there were $1.4 million in accrued and other current liabilities and $0.9 million in other noncurrent liabilities that are primarily related to contract termination costs and are classified as discontinued operations in the Condensed Consolidated Balance Sheets. At December 31, 2013, there was $8.6 million in current assets of discontinued operations, comprised primarily of $6.7 million in held for sale assets of the closed Brainerd mill. Also at December 31, 2013, there were $1.9 million in accrued and other current liabilities and $1.0 million in other noncurrent liabilities that are primarily related to contract termination costs and are classified as discontinued operations in the Condensed Consolidated Balance Sheets.

	The following table summarizes certain Condensed Consolidated Statements of Comprehensive Loss information for discontinued operations:

		Three Months
		Ended March 31,
	(all amounts in thousands, except per share data)	2014			2013

	Net sales	$	358		$	110,012
	Loss from discontinued operations before income taxes	(1,233		)	(40,840		)
	Credit for income taxes	(779		)	(14,967		)
	Loss from discontinued operations, net of taxes	$	(454	)	$	(25,873	)
	Net loss per share — basic and diluted	$	(0.01	)	$	(0.52	)

	During the first quarter of 2014, we continued to execute actions related to the sale of the specialty paper business and closure of the Brainerd mill, these net charges, which are detailed in the table below, are recorded in loss from discontinued operations in the Condensed Consolidated Statements of Comprehensive Loss.

		Three Months
		Ended March 31,
	(all dollar amounts in thousands)	2014			2013

	Accelerated depreciation on long-lived assets	$	—		$	35,716
	Inventory and spare parts write-downs	—			6,712
	Severance and benefit continuation costs	177			1,369
	Other associated costs, net	648			532

	Total	$	825		$	44,329

	Following is a summary of the liabilities for restructuring expenses through March 31, 2014, related to the closure of the Brainerd mill and the sale of the specialty paper business all of which were included in liabilities of discontinued operations:

		December 31,			Reserve/			Payments/			March 31,
	(all dollar amounts in thousands)	2013			Provisions			Usage			2014

	Severance and benefit continuation	$	434		$	177		$	(256	)	$	355
	Contract termination	2,901			56			—			2,957
	Other	33			592			(547		)	78

	Total	$	3,368		$	825		$	(803	)	$	3,390

	In addition, the Company maintains a natural gas contract for our previously closed Groveton, New Hampshire mill. The liabilities and charges associated with this natural gas contract are recorded in continuing operations. At March 31, 2014, $1.0 million and $7.4 million are included in current liabilities and noncurrent liabilities, respectively. During the first three months of 2014, we have made payments related to this natural gas contract of approximately $0.2 million. At December 31, 2013, $0.8 million and $7.8 million were included in current liabilities and noncurrent liabilities, respectively. There were no associated charges within selling and administrative expenses for the three months ended March 31, 2014, and $0.2 million of associated charges in the three months ended March 31, 2013. We will continue to make payments related to the contract over the original contractual term.

Earnings_Per_Share_EPS

Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2014
Earnings Per Share ("EPS")	'
Earnings Per Share ("EPS")	'
	Note 5. Earnings Per Share (“EPS”)

	The following table reconciles basic weighted average outstanding shares to diluted weighted average outstanding shares:

		Three Months
		Ended March 31,
	(all amounts in thousands, except per share data)	2014			2013

	Basic weighted average common shares outstanding	49,664			49,364
	Dilutive securities:
	Stock compensation plans	—			—

	Diluted weighted average common shares outstanding	49,664			49,364

	Loss from continuing operations, net of tax	$	(4,446	)	$	(3,732	)
	Loss from discontinued operations, net of tax	(454		)	(25,873		)

	Net loss	$	(4,900	)	$	(29,605	)

	Loss from continuing operations, net of tax, per share — basic and diluted	$	(0.09	)	$	(0.08	)
	Loss from discontinued operations, net of tax, per share — basic and diluted	(0.01		)	(0.52		)

	Net loss per share—basic and diluted	$	(0.10	)	$	(0.60	)

	Stock options for which the exercise price exceeds the average market price over the applicable period have an antidilutive effect on EPS, and accordingly, are excluded from the calculation of diluted EPS. Due to the net loss from continuing operations for the three months ended March 31, 2014 and 2013, stock-based grants for 1,411,117 shares and 1,977,545 shares, respectively, were excluded from the diluted EPS calculation because the shares were considered to be antidilutive.

Receivables

Receivables	3 Months Ended
	Mar. 31, 2014
Receivables	'
Receivables	'
	Note 6. Receivables

	Accounts receivable consisted of the following:

		March 31,			December 31,
	(all dollar amounts in thousands)	2014			2013
	Trade	$	25,556		$	28,549
	Other	220			708
		25,776			29,257
	Less: allowances for doubtful accounts	(163		)	(151		)

		$	25,613		$	29,106

Inventories

Inventories	3 Months Ended
	Mar. 31, 2014
Inventories	'
Inventories	'
	Note 7. Inventories

	The various components of inventories were as follows:

		March 31,			December 31,
	(all dollar amounts in thousands)	2014			2013
	Raw materials	$	23,398		$	25,714
	Work in process and finished goods	25,665			17,087
	Supplies	2,107			1,992
	Inventories at cost	51,170			44,793
	Less: LIFO reserve	(10,010		)	(9,075		)

		$	41,160		$	35,718

Property_Plant_and_Equipment

Property, Plant, and Equipment	3 Months Ended
	Mar. 31, 2014
Property, Plant, and Equipment	'
Property, Plant, and Equipment	'
	Note 8. Property, Plant, and Equipment

	The various components of property, plant, and equipment were as follows:

		March 31,			December 31,
		2014			2013
	Property, plant, and equipment
	Buildings	$	82,464		$	82,610
	Machinery and equipment	446,640			447,396
		529,104			530,006
	Less: accumulated depreciation	(244,619		)	(239,983		)
	Net depreciated value	284,485			290,023
	Land	1,734			1,734
	Construction in progress	10,640			7,207
		$	296,859		$	298,964

	Depreciation and amortization for the three months ended March 31, 2014 and 2013 was $10.3 million and $9.7 million, respectively.

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2014
Debt	'
Debt	'
	Note 9. Debt

	On March 31, 2010, we entered into a note purchase and private-shelf agreement. This agreement provided for the April 9, 2010, issuance of $50 million of unsecured senior notes having an interest rate of 5.69% that mature on April 9, 2017, and also established a private shelf facility under which up to $125 million of additional promissory notes may be issued at terms agreed upon by the parties at the time of issuance until July 20, 2014. On April 4, 2011, we issued an additional aggregate principal amount of $50 million of our senior notes under the terms of this note purchase and private-shelf agreement. The notes bear interest at 4.68% and mature on April 4, 2018. On August 22, 2011, the private-shelf agreement was amended to expand the total amount available under the private-shelf agreement to $150 million. On April 9, 2012, we issued an additional aggregate principal amount of $50 million of our senior notes under this note purchase and private-shelf agreement. The notes bear interest at 4.00% and mature on June 30, 2016. On March 28, 2014, the private-shelf agreement was amended to adjust certain covenant requirements and resulted in an additional 0.5% per annum fee on all outstanding notes for the fiscal quarter ending March 31, 2014 and a 1% per annum fee thereafter on all outstanding notes under this agreement. At March 31, 2014, the total capacity of unsecured private placement notes was $200 million, with $150 million of unsecured private placement notes outstanding.

	We have estimated the fair value of our long-term debt in accordance with FASB authoritative guidance. The FASB defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between participants at the measurement date. Fair value information for long-term debt is within Level 2 of the fair value hierarchy and is based on current market interest rates and estimates of current market conditions for instruments with similar terms and maturities. At March 31, 2014, the estimated fair value of long-term debt is approximately $162 million which compares to the carrying value of $150 million. At December 31, 2013, the estimated fair value of long-term debt was approximately $158 million which compares to the carrying value of $150 million.

	On June 23, 2010, we entered into a $125 million revolving-credit agreement with five financial institutions originally set to expire on June 23, 2014. On June 26, 2013, we entered into an amendment to the revolving-credit agreement reducing the amount of aggregate commitments from $125 million to $100 million. On December 17, 2013, the credit agreement was amended to reduce the aggregate commitments under the revolving-credit agreement to $80 million and extend the maturity date for those obligations from June 23, 2014 to June 30, 2015. On March 28, 2014, the credit agreement was further amended to adjust certain covenant requirements. At March 31, 2014 and December 31, 2013, there were no amounts outstanding under the revolving-credit agreement.

	Early in 2014 and during prior years, we had an unrated commercial paper placement agreement with a bank to issue up to $50 million of unsecured debt obligations. The agreement required unused credit availability under our revolving-credit agreement equal to the amount of outstanding commercial paper. On February 24, 2014, we terminated this commercial paper placement agreement. There were no outstanding borrowings under this agreement as of the date of termination or at December 31, 2013.

	We are subject to certain financial and other covenants under the revolving-credit agreement and the note purchase and private-shelf agreement. At March 31, 2014, we were in compliance with all required covenants. Effective with the amendments dated March 28, 2014, to the revolving-credit agreement and the note purchase and private-shelf agreement, we agreed to seek approval from our Board of Directors to secure the debt obligations by liens on substantially all of our assets within 60 days of the amendments’ effective date. We are in the process of obtaining such approval. We believe it is reasonably likely that we will be successful in satisfying this requirement by the date specified or, if necessary, obtaining a waiver to extend the date. However, it is impossible to predict with certainty the impact or modifications that will be required to the loan agreements as a result of the action. In the event that we are unable to satisfy lender requirements or obtain a waiver or further amendments the lenders would be able to exercise various remedies for default which may include, discontinue lending, acceleration of the related debt, or declaration that all borrowings outstanding thereunder be due and payable.

Pension_and_Other_Postretireme

Pension and Other Post-retirement Benefit Plans	3 Months Ended
	Mar. 31, 2014
Pension and Other Post-retirement Benefit Plans	'
Pension and Other Post-retirement Benefit Plans	'
	Note 10. Pension and Other Post-retirement Benefit Plans

	Inclusive of discontinued operations, the components of net periodic benefit cost recognized in the Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2014 and 2013, are as follows:

								Other
								Post-retirement
		Pension Benefits						Benefits
		2014			2013			2014			2013

	Service cost	$	149		$	655		$	56		$	558
	Interest cost	2,601			2,355			343			821
	Expected return on plan assets	(3,201		)	(3,216		)	—			—
	Amortization of:
	Prior service (benefit) cost	79			273			(372		)	(763		)
	Actuarial loss (gain)	643			1,511			(45		)	592

	Net periodic benefit cost (benefit)	$	271		$	1,578		$	(18	)	$	1,208

	We previously disclosed in our Notes to Consolidated Financial Statements for the year ended December 31, 2013 that we anticipate making contributions of approximately $5.5 million directly to our pension and retirement plans as a result of minimum funding requirements and elective contributions in 2014. As of March 31, 2014, we have made payments of approximately $0.6 million to our pension plans. In addition, as previously reported, we expected to contribute approximately $3.8 million, net of subsidy reimbursements, directly to other post-retirement plans in 2014. As of March 31, 2014, we have contributed approximately $1.8 million, net of subsidy reimbursements, to our other post-retirement plans.

ShareBased_Compensation

Share-Based Compensation	3 Months Ended
Share-Based Compensation	Mar. 31, 2014
Share-Based Compensation	'
Share-Based Compensation	'
	Note 11. Share-Based Compensation

	We account for share-based compensation pursuant to the provisions of FASB ASC Subtopic 718-10.

	Stock Options, Restricted Stock Awards, and Performance Units

	During the three months ended March 31, 2014, as part of compensation for our directors and certain employees of Wausau Paper, we granted 265,650 awards of performance units. Of the awards granted, 31,898 performance units were granted to directors. The grants to certain employees were comprised of two types of awards. The first type of award included 114,078 of performance units with the award subject to achievement of a targeted shareholder return on our common stock over a three-year period. The second type of award was comprised of 119,674 performance units with vesting contingent on (1) achieving certain operating profit levels and (2) completion of a service requirement.

	For the three months ended March 31, 2014 and 2013, share-based compensation expense related to non-qualified stock option grants, restricted stock awards, and performance unit awards was approximately $0.6 million. We recognize compensation expense on grants of stock options, and performance unit share-based compensation awards on a straight-line basis over the requisite service period of each award. Forfeiture rates are estimated based upon our historical experience for each grant type. As of March 31, 2014, total unrecognized compensation cost, net of estimated forfeitures, related to share-based compensation awards was approximately $1.5 million, which we expect to recognize over a weighted average period of approximately 1.0 years.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	3 Months Ended
Accumulated Other Comprehensive Loss	Mar. 31, 2014
Accumulated Other Comprehensive Loss	'
Accumulated Other Comprehensive Loss	'
	Note 12. Accumulated Other Comprehensive Loss

	For all periods presented in the Condensed Consolidated Financial Statements, accumulated other comprehensive loss is comprised solely of cumulative net actuarial losses and prior service cost not yet recognized as a component of net periodic benefit costs for retirement and other post-retirement plans. During the three months ended March 31, 2014 and 2013, the changes in accumulated other comprehensive loss, net of tax, were as follows:

	(all dollar amounts in thousands)

	Balance at December 31, 2013	$	(27,220	)
	Amounts reclassified from other comprehensive loss	189
	Balance at March 31, 2014	$	(27,031	)

	Balance at December 31, 2012	$	(91,096	)
	Amounts reclassified from other comprehensive loss	1,000
	Balance at March 31, 2013	$	(90,096	)

	Following are details of the amounts reclassified out of accumulated other comprehensive loss during the three months ended March 31, 2014 and 2013:

	(all dollar amounts in thousands)	March 31,			March 31,			Affected Line Item
		2014			2013			in the Condensed
								Consolidated
								Statements of
								Comprehensive
								Loss

	Pension and other post-retirement benefit obligation changes:
	Amortization of prior service (cost) credit, net	$	(293	)	$	(490	)(a)
	Amortization of actuarial gains (losses), net	598			2,103		(a)
	Reclassification before tax	305			1,613
	Tax Provision	116			613
	Reclassifications for the period, net of tax	$	189		$	1,000

	(a) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs. See Note 10, “Pension and Other Post-retirement Benefit Plans” regarding the pension and other post-retirement net periodic benefit costs.

Subsequent_Event

Subsequent Event	3 Months Ended
Subsequent Event	Mar. 31, 2014
Subsequent Event	'
Subsequent Event	'
	Note 13. Subsequent Event

	On April 2, 2014, we announced that our President and Chief Executive Officer was stepping down and plans to resign from our Board of Directors after a brief transition period and that our Non-Executive Chairman of the Board will be retiring from the Board in advance of our 2014 Annual Meeting of Shareholders. The date upon which these individuals resign or retire has not been determined. Upon the departure of these individuals from the Board, there is a reasonable likelihood that certain change in control provisions under our various stock incentive plans will be triggered. In the event that those provisions are triggered, the impact to our consolidated financial statements is estimated to be after-tax expense in the range of $1.0 to $1.5 million, or approximately $0.02 to $0.03 per share.

Restructuring_Discontinued_Ope1

Restructuring, Discontinued Operations, and Other (Tables)	3 Months Ended
Restructuring, Discontinued Operations, and Other (Tables)	Mar. 31, 2014
Restructuring, Discontinued Operations, and Other	'
Summary of certain Condensed Consolidated Statements of Comprehensive Income (Loss) information for discontinued operations	'

		Three Months
		Ended March 31,
	(all amounts in thousands, except per share data)	2014			2013

	Net sales	$	358		$	110,012
	Loss from discontinued operations before income taxes	(1,233		)	(40,840		)
	Credit for income taxes	(779		)	(14,967		)
	Loss from discontinued operations, net of taxes	$	(454	)	$	(25,873	)
	Net loss per share — basic and diluted	$	(0.01	)	$	(0.52	)
Schedule of restructuring expenses recorded in loss from discontinued operations in the Condensed Consolidated Statements of Comprehensive Loss	'

		Three Months
		Ended March 31,
	(all dollar amounts in thousands)	2014			2013

	Accelerated depreciation on long-lived assets	$	—		$	35,716
	Inventory and spare parts write-downs	—			6,712
	Severance and benefit continuation costs	177			1,369
	Other associated costs, net	648			532

	Total	$	825		$	44,329
Summary of the liabilities for discontinued operations	'

		December 31,			Reserve/			Payments/			March 31,
	(all dollar amounts in thousands)	2013			Provisions			Usage			2014

	Severance and benefit continuation	$	434		$	177		$	(256	)	$	355
	Contract termination	2,901			56			—			2,957
	Other	33			592			(547		)	78

	Total	$	3,368		$	825		$	(803	)	$	3,390

Earnings_Per_Share_EPS_Tables

Earnings Per Share ("EPS") (Tables)	3 Months Ended
Earnings Per Share ("EPS") (Tables)	Mar. 31, 2014
Earnings Per Share ("EPS")	'
Schedule of reconciliation of basic and diluted weighted average outstanding shares	'

		Three Months
		Ended March 31,
	(all amounts in thousands, except per share data)	2014			2013

	Basic weighted average common shares outstanding	49,664			49,364
	Dilutive securities:
	Stock compensation plans	—			—

	Diluted weighted average common shares outstanding	49,664			49,364

	Loss from continuing operations, net of tax	$	(4,446	)	$	(3,732	)
	Loss from discontinued operations, net of tax	(454		)	(25,873		)

	Net loss	$	(4,900	)	$	(29,605	)

	Loss from continuing operations, net of tax, per share — basic and diluted	$	(0.09	)	$	(0.08	)
	Loss from discontinued operations, net of tax, per share — basic and diluted	(0.01		)	(0.52		)

	Net loss per share—basic and diluted	$	(0.10	)	$	(0.60	)

Receivables_Tables

Receivables (Tables)	3 Months Ended
	Mar. 31, 2014
Receivables	'
Schedule of receivables	'

		March 31,			December 31,
	(all dollar amounts in thousands)	2014			2013
	Trade	$	25,556		$	28,549
	Other	220			708
		25,776			29,257
	Less: allowances for doubtful accounts	(163		)	(151		)

		$	25,613		$	29,106

Inventories_Tables

Inventories (Tables)	3 Months Ended
	Mar. 31, 2014
Inventories	'
Schedule of inventories	'

		March 31,			December 31,
	(all dollar amounts in thousands)	2014			2013
	Raw materials	$	23,398		$	25,714
	Work in process and finished goods	25,665			17,087
	Supplies	2,107			1,992
	Inventories at cost	51,170			44,793
	Less: LIFO reserve	(10,010		)	(9,075		)

		$	41,160		$	35,718

Property_Plant_and_Equipment_T

Property, Plant, and Equipment (Tables)	3 Months Ended
	Mar. 31, 2014
Property, Plant, and Equipment	'
Schedule of property, plant, and equipment	'

		March 31,			December 31,
		2014			2013
	Property, plant, and equipment
	Buildings	$	82,464		$	82,610
	Machinery and equipment	446,640			447,396
		529,104			530,006
	Less: accumulated depreciation	(244,619		)	(239,983		)
	Net depreciated value	284,485			290,023
	Land	1,734			1,734
	Construction in progress	10,640			7,207
		$	296,859		$	298,964

Pension_and_Other_Postretireme1

Pension and Other Post-retirement Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2014
Pension and Other Post-retirement Benefit Plans	'
Schedule of component of net periodic benefit costs recognized in the Condensed Consolidated Statements Comprehensive Loss Inclusive of discontinued operations	'

								Other
								Post-retirement
		Pension Benefits						Benefits
		2014			2013			2014			2013

	Service cost	$	149		$	655		$	56		$	558
	Interest cost	2,601			2,355			343			821
	Expected return on plan assets	(3,201		)	(3,216		)	—			—
	Amortization of:
	Prior service (benefit) cost	79			273			(372		)	(763		)
	Actuarial loss (gain)	643			1,511			(45		)	592

	Net periodic benefit cost (benefit)	$	271		$	1,578		$	(18	)	$	1,208

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Mar. 31, 2014
Accumulated Other Comprehensive Loss	'
Schedule of changes in accumulated other comprehensive loss, net of tax	'

	(all dollar amounts in thousands)

	Balance at December 31, 2013	$	(27,220	)
	Amounts reclassified from other comprehensive loss	189
	Balance at March 31, 2014	$	(27,031	)

	Balance at December 31, 2012	$	(91,096	)
	Amounts reclassified from other comprehensive loss	1,000
	Balance at March 31, 2013	$	(90,096	)
Schedule of amounts reclassified out of accumulated other comprehensive loss	'

	(all dollar amounts in thousands)	March 31,			March 31,			Affected Line Item
		2014			2013			in the Condensed
								Consolidated
								Statements of
								Comprehensive
								Loss

	Pension and other post-retirement benefit obligation changes:
	Amortization of prior service (cost) credit, net	$	(293	)	$	(490	)(a)
	Amortization of actuarial gains (losses), net	598			2,103		(a)
	Reclassification before tax	305			1,613
	Tax Provision	116			613
	Reclassifications for the period, net of tax	$	189		$	1,000

	(a) These accumulated other comprehensive income components are included in the computation of net periodic benefit costs. See Note 10, “Pension and Other Post-retirement Benefit Plans” regarding the pension and other post-retirement net periodic benefit costs.

Restructuring_Discontinued_Ope2

Restructuring, Discontinued Operations, and Other (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Restructuring and Discontinued Operations	'	'	'
Discontinued operations assets	$7,112,000	'	$8,587,000
Accrued and other liabilities that are classified as discontinued operations	1,412,000	'	1,894,000
Other noncurrent liabilities that are classified as discontinued operations	867,000	'	989,000
Certain condensed consolidated statements of operations information for discontinued operations	'	'	'
Net sales	358,000	110,012,000	'
Loss from discontinued operations before income taxes	-1,233,000	-40,840,000	'
Credit for income taxes	-779,000	-14,967,000	'
Loss from discontinued operations, net of taxes	-454,000	-25,873,000	'
Net loss per share - basic and diluted (in dollars per share)	($0.01)	($0.52)	'
Sale of specialty paper business and closure of Brainerd paper mill	'	'	'
Restructuring and Discontinued Operations	'	'	'
Discontinued operations assets	7,100,000	'	8,600,000
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	825,000	44,329,000	'
Liabilities for restructuring expenses	'	'	'
Balance at the beginning of the period	3,368,000	'	'
Reserve Provisions	825,000	'	'
Payments/ Usage	-803,000	'	'
Balance at the end of the period	3,390,000	'	'
Sale of specialty paper business and closure of Brainerd paper mill \| Accelerated depreciation on long-lived assets	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	'	35,716,000	'
Sale of specialty paper business and closure of Brainerd paper mill \| Inventory and spare parts write-downs	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	'	6,712,000	'
Sale of specialty paper business and closure of Brainerd paper mill \| Severance and benefit continuation costs	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	177,000	1,369,000	'
Liabilities for restructuring expenses	'	'	'
Balance at the beginning of the period	434,000	'	'
Reserve Provisions	177,000	'	'
Payments/ Usage	-256,000	'	'
Balance at the end of the period	355,000	'	'
Sale of specialty paper business and closure of Brainerd paper mill \| Other associated costs, net	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	648,000	532,000	'
Sale of specialty paper business and closure of Brainerd paper mill \| Contract termination	'	'	'
Restructuring and Discontinued Operations	'	'	'
Accrued and other liabilities that are classified as discontinued operations	1,400,000	'	1,900,000
Other noncurrent liabilities that are classified as discontinued operations	900,000	'	1,000,000
Liabilities for restructuring expenses	'	'	'
Balance at the beginning of the period	2,901,000	'	'
Reserve Provisions	56,000	'	'
Balance at the end of the period	2,957,000	'	'
Sale of specialty paper business and closure of Brainerd paper mill \| Other	'	'	'
Liabilities for restructuring expenses	'	'	'
Balance at the beginning of the period	33,000	'	'
Reserve Provisions	592,000	'	'
Payments/ Usage	-547,000	'	'
Balance at the end of the period	78,000	'	'
Sale of specialty paper business	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	600,000	0	'
Closure of Brainerd paper mill	'	'	'
Restructuring and Discontinued Operations	'	'	'
Discontinued operations assets	6,700,000	'	6,700,000
Liabilities for restructuring expenses	'	'	'
Pre-tax gain on sale and disposal of discontinued operations	200,000	'	'
Closure of Brainerd paper mill \| Accelerated depreciation on long-lived assets	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	'	35,700,000	'
Closure of Brainerd paper mill \| Inventory and spare parts write-downs	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	'	6,700,000	'
Closure of Brainerd paper mill \| Severance and benefit continuation costs	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	200,000	'	'
Closure of Brainerd paper mill \| Other associated costs, net	'	'	'
Restructuring activities related to discontinued operations	'	'	'
Net pre-tax charges or credits recognized related to restructuring activities	'	$1,900,000	'

Restructuring_Discontinued_Ope3

Restructuring, Discontinued Operations, and Other (Details 2) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013
	Mar. 31, 2014	Mar. 31, 2013	Closed facility	Closed facility
Other	'	'	'	'
Payments for natural gas contract	'	'	$2,000,000	'
Current liabilities	'	'	1,000,000	800,000
Noncurrent liabilities	'	'	7,400,000	7,800,000
Restructuring charges within selling and administrative expenses	$0	$200,000	'	'

Earnings_Per_Share_EPS_Details

Earnings Per Share ("EPS") (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Basic and diluted net (loss) earnings per share	'	'
Basic weighted average common shares outstanding (in shares)	49,664,000	49,364,000
Diluted weighted average common shares outstanding (in shares)	49,664,000	49,364,000
Loss from continuing operations, net of tax	($4,446)	($3,732)
Loss from discontinued operations, net of tax	-454	-25,873
Net loss	($4,900)	($29,605)
Loss from continuing operations, net of tax, per share - basic and diluted (in dollars per share)	($0.09)	($0.08)
Loss from discontinued operations, net of tax, per share - basic and diluted (in dollars per share)	($0.01)	($0.52)
Net loss (in dollars per share)	($0.10)	($0.60)
Stock options	'	'
Anti-dilutive securities	'	'
Anti-dilutive securities excluded from the computation of diluted earnings per share (in shares)	1,411,117	1,977,545

Receivables_Details

Receivables (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Receivables	'	'
Accounts receivable, gross	$25,776	$29,257
Less: allowances for doubtful accounts	-163	-151
Receivables, net	25,613	29,106
Trade	'	'
Receivables	'	'
Accounts receivable, gross	25,556	28,549
Other	'	'
Receivables	'	'
Accounts receivable, gross	$220	$708

Inventories_Details

Inventories (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Inventories	'	'
Raw materials	$23,398	$25,714
Work in process and finished goods	25,665	17,087
Supplies	2,107	1,992
Inventories at cost	51,170	44,793
Less: LIFO reserve	-10,010	-9,075
Inventories, net	$41,160	$35,718

Property_Plant_and_Equipment_D

Property, Plant, and Equipment (Details) (USD $)	3 Months Ended
Property, Plant, and Equipment (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Property, Plant, and Equipment	'	'	'
Net depreciated value	$296,859,000	'	$298,964,000
Depreciation and amortization	10,300,000	9,700,000	'
Continuing operations	'	'	'
Property, Plant, and Equipment	'	'	'
Net depreciated value	296,859,000	'	'
Property, plant, and equipment	'	'	'
Property, Plant, and Equipment	'	'	'
Property, plant, and equipment, gross	'	'	530,006,000
Less: accumulated depreciation	'	'	-239,983,000
Net depreciated value	'	'	290,023,000
Property, plant, and equipment \| Continuing operations	'	'	'
Property, Plant, and Equipment	'	'	'
Property, plant, and equipment, gross	529,104,000	'	'
Less: accumulated depreciation	-244,619,000	'	'
Net depreciated value	284,485,000	'	'
Buildings	'	'	'
Property, Plant, and Equipment	'	'	'
Property, plant, and equipment, gross	'	'	82,610,000
Buildings \| Continuing operations	'	'	'
Property, Plant, and Equipment	'	'	'
Property, plant, and equipment, gross	82,464,000	'	'
Machinery and equipment	'	'	'
Property, Plant, and Equipment	'	'	'
Property, plant, and equipment, gross	'	'	447,396,000
Machinery and equipment \| Continuing operations	'	'	'
Property, Plant, and Equipment	'	'	'
Property, plant, and equipment, gross	446,640,000	'	'
Land	'	'	'
Property, Plant, and Equipment	'	'	'
Net depreciated value	'	'	1,734,000
Land \| Continuing operations	'	'	'
Property, Plant, and Equipment	'	'	'
Net depreciated value	1,734,000	'	'
Construction in progress	'	'	'
Property, Plant, and Equipment	'	'	'
Net depreciated value	'	'	7,207,000
Construction in progress \| Continuing operations	'	'	'
Property, Plant, and Equipment	'	'	'
Net depreciated value	$10,640,000	'	'

Debt_Details

Debt (Details) (USD $)

3 Months Ended

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Apr. 09, 2012

Apr. 09, 2010

Apr. 04, 2011

Mar. 31, 2014

Aug. 22, 2011

Apr. 09, 2010

Mar. 31, 2014

Dec. 31, 2013

Dec. 17, 2013

Jun. 26, 2013

Jun. 23, 2010

Mar. 31, 2014

Dec. 31, 2013

Unsecured private placement notes

4.00% unsecured senior notes

5.69% unsecured senior notes

4.68% unsecured senior notes

Private shelf facility

Revolving-credit agreement with financial institutions

Commercial paper placement agreement

item

Debt

Total long-term debt

$150,000,000

Interest rate (as a percent)

4.00%

5.69%

4.68%

Per annum fee percentage on outstanding balance

0.50%

Per annum fee percentage on outstanding balance after specified period

1.00%

Issuance of debt

50,000,000

Maximum borrowing capacity

150,000,000

125,000,000

80,000,000

100,000,000

125,000,000

50,000,000

Maximum borrowing capacity before amendment

125,000,000

Estimated fair value of long-term debt

162,000,000

158,000,000

Outstanding borrowings

150,000,000

Total amount available for borrowing

$200,000,000

Number of financial institutions

Maximum number of days for asset approval

'60 days

Pension_and_Other_Postretireme2

Pension and Other Post-retirement Benefit Plans (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Pension Benefits	'	'
Components of net periodic benefit cost:	'	'
Service cost	$149,000	$655,000
Interest cost	2,601,000	2,355,000
Expected return on plan assets	-3,201,000	-3,216,000
Amortization of:	'	'
Prior service (benefit) cost	79,000	273,000
Actuarial loss (gain)	643,000	1,511,000
Net periodic benefit cost (benefit)	271,000	1,578,000
Contributions by employer	600,000	'
Pension Benefits \| Previously disclosed	'	'
Amortization of:	'	'
Anticipated contributions	5,500,000	'
Other Post-retirement Benefits	'	'
Components of net periodic benefit cost:	'	'
Service cost	56,000	558,000
Interest cost	343,000	821,000
Amortization of:	'	'
Prior service (benefit) cost	-372,000	-763,000
Actuarial loss (gain)	-45,000	592,000
Net periodic benefit cost (benefit)	-18,000	1,208,000
Other Post-retirement Benefits \| Previously disclosed	'	'
Amortization of:	'	'
Anticipated contributions	3,800,000	'
Other Post-retirement Benefits \| Plan Expectation	'	'
Amortization of:	'	'
Anticipated contributions	$1,800,000	'

ShareBased_Compensation_Detail

Share-Based Compensation (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Share-Based Compensation	'	'
Share-based compensation expense	$0.60	$0.60
Unrecognized compensation expense	$1.50	'
Weighted average period for recognition of unrecognized compensation expense	'1 year	'
Performance units	'	'
Share-Based Compensation	'	'
Number of awards granted (in shares)	265,650	'
Performance units \| Directors	'	'
Share-Based Compensation	'	'
Number of awards granted (in shares)	31,898	'
Performance units \| Certain Employees	'	'
Share-Based Compensation	'	'
Number of types of awards	2	'
Performance units \| Certain Employees \| First type of award	'	'
Share-Based Compensation	'	'
Number of awards granted (in shares)	114,078	'
Vesting period	'3 years	'
Performance units \| Certain Employees \| Second type of award	'	'
Share-Based Compensation	'	'
Number of awards granted (in shares)	119,674	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Changes in accumulated other comprehensive loss, net of tax	'	'
Balance at the beginning of the period	($27,220)	($91,096)
Amounts reclassified from other comprehensive loss	189	1,000
Balance at the end of the period	-27,031	-90,096
Accumulated other comprehensive loss, net of tax	'	'
Loss from continuing operations before income taxes	-6,803	-6,152
Tax Provision	-2,357	-2,420
Net loss	-4,900	-29,605
Pension and other post-retirement benefit obligation changes \| Amounts reclassified out of accumulated other comprehensive loss	'	'
Accumulated other comprehensive loss, net of tax	'	'
Amortization of prior service (cost) credit, net	-293	-490
Amortization of actuarial gains (losses), net	598	2,103
Loss from continuing operations before income taxes	305	1,613
Tax Provision	116	613
Net loss	$189	$1,000

Subsequent_Event_Details

Subsequent Event (Details) (Subsequent event, Forecast, USD $)	0 Months Ended
In Millions, except Per Share data, unless otherwise specified	Apr. 02, 2014
Minimum	'
Subsequent Event	'
Amount of change in stock incentive plan expense after tax	$1
Amount of change in stock incentive plan expense after tax (in dollars per share)	$0.02
Maximum	'
Subsequent Event	'
Amount of change in stock incentive plan expense after tax	$1.50
Amount of change in stock incentive plan expense after tax (in dollars per share)	$0.03