Mercer International (MERC) 10-Q 26 Jul 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Jul. 25, 2018
Document and Entity Information
Document Type		10-Q
Amendment Flag		false
Document Period End Date		Jun. 30, 2018
Document Fiscal Year Focus		2,018
Document Fiscal Period Focus		Q2
Trading Symbol	merc
Entity Registrant Name		MERCER INTERNATIONAL INC.
Entity Central Index Key		1,333,274
Current Fiscal Year End Date		--12-31
Entity Filer Category		Large Accelerated Filer
Entity Common Stock, Shares Outstanding			65,201,661

INTERIM CONSOLIDATED STATEMENTS

INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues	$ 346,532	$ 283,177	$ 714,435	$ 525,961
Costs and expenses
Operating costs, excluding depreciation and amortization	271,134	230,534	525,419	403,130
Operating depreciation and amortization	22,906	20,521	46,115	39,637
Selling, general and administrative expenses	15,016	13,259	29,377	22,985
Operating income	37,476	18,863	113,524	60,209
Other income (expenses)
Interest expense	(12,128)	(13,320)	(24,243)	(27,199)
Loss on settlement of debt (Note 4(a))	0	0	(21,515)	(10,696)
Legal cost award (Note 11(c))	0	0	(6,951)	0
Other income (expenses)	(132)	137	(369)	573
Total other expenses	(12,260)	(13,183)	(53,078)	(37,322)
Income before provision for income taxes	25,216	5,680	60,446	22,887
Provision for income taxes	(8,461)	(7,784)	(18,042)	(15,265)
Net income (loss)	$ 16,755	$ (2,104)	$ 42,404	$ 7,622
Net income (loss) per common share
Net income (loss) per common share, basic and diluted	$ 0.26	$ (0.03)	$ 0.65	$ 0.12
Dividends declared per common share	$ 0.125	$ 0.115	$ 0.250	$ 0.230

INTERIM CONSOLIDATED STATEMENT3

INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 16,755	$ (2,104)	$ 42,404	$ 7,622
Other comprehensive income (loss), net of taxes
Foreign currency translation adjustment (net of tax effect of $nil in all years)	(55,807)	58,471	(39,522)	69,640
Change in unrecognized losses and prior service costs related to defined benefit plan (net of tax effect of $nil in all years)	(574)	309	(728)	602
Change in unrealized gains/losses on marketable securities (net of tax effect of $nil in all years)	26	3	27	5
Other comprehensive income (loss), net of taxes	(56,355)	58,783	(40,223)	70,247
Total comprehensive income (loss)	$ (39,600)	$ 56,679	$ 2,181	$ 77,869

INTERIM CONSOLIDATED STATEMENT4

INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax effect	$ 0	$ 0	$ 0	$ 0
Change in unrecognized losses and prior service costs related to defined benefit plan, tax effect	0	0	0	0
Change in unrealized gains/losses on marketable securities, tax effect	$ 0	$ 0	$ 0	$ 0

INTERIM CONSOLIDATED BALANCE SH

INTERIM CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 269,482	$ 143,299
Restricted cash to redeem senior notes (Note 4(a))	0	317,439
Accounts receivable	190,807	206,027
Inventories	189,233	176,601
Prepaid expenses and other	12,041	8,973
Total current assets	661,563	852,339
Property, plant and equipment, net	836,116	844,848
Intangible and other assets	23,299	26,147
Deferred income tax	1,411	1,376
Total assets	1,522,389	1,724,710
Current liabilities
Accounts payable and other	187,532	133,557
Pension and other post-retirement benefit obligations	939	985
Senior notes to be redeemed with restricted cash (Note 4(a))	0	295,924
Total current liabilities	188,471	430,466
Debt	699,261	662,997
Pension and other post-retirement benefit obligations	21,579	21,156
Capital leases and other	37,671	27,464
Deferred income tax	36,905	31,961
Total liabilities	983,887	1,174,044
Shareholders' equity
Common shares	65,171	64,974
Additional paid-in capital	340,450	338,695
Retained earnings	232,105	205,998
Accumulated other comprehensive loss	(99,224)	(59,001)
Total shareholders' equity	538,502	550,666
Total liabilities and shareholders' equity	1,522,389	1,724,710
Commitments and contingencies (Note 11)

INTERIM CONSOLIDATED BALANCE S6

INTERIM CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common Stock, Shares Authorized	200,000,000	200,000,000
Common Stock, Shares, Issued	65,202,000	65,017,000
Common Stock, Shares, Outstanding	65,202,000	65,017,000
Common Stock, Par or Stated Value Per Share	$ 1	$ 1

INTERIM CONSOLIDATED STATEMENT7

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Cash flows from (used in) operating activities
Net income (loss)	$ 16,755	$ (2,104)	$ 42,404	$ 7,622
Adjustments to reconcile net income to cash flows from operating activities
Depreciation and amortization	23,014	20,625	46,333	39,846
Deferred income tax provision	1,204	4,196	6,016	8,405
Loss on settlement of debt	0	0	21,515	10,696
Defined benefit pension plan and other post-retirement benefit plan expense	432	540	871	1,066
Stock compensation expense	1,759	912	1,952	751
Other	1,311	(153)	2,131	525
Defined benefit pension plan and other post-retirement benefit plan contributions	(60)	(319)	(105)	(851)
Changes in working capital
Accounts receivable	13,475	(37,426)	8,343	(43,714)
Inventories	(12,221)	(5,294)	(19,043)	4,131
Accounts payable and accrued expenses	36,906	36,954	54,933	43,835
Other	3,170	(1,846)	(3,228)	(2,842)
Net cash from (used in) operating activities	85,745	16,085	162,122	69,470
Cash flows from (used in) investing activities
Purchase of property, plant and equipment	(28,655)	(19,743)	(44,839)	(27,907)
Purchase of intangible assets	(153)	(165)	(320)	(405)
Acquisition of Friesau Facility	0	(61,627)	0	(61,627)
Other	67	77	67	77
Net cash from (used in) investing activities	(28,741)	(81,458)	(45,092)	(89,862)
Cash flows from (used in) financing activities
Redemption of senior notes	0	0	(317,439)	(234,945)
Proceeds from issuance of notes	0	0	0	250,000
Proceeds from revolving credit facilities, net	17,665	26,525	37,736	26,525
Dividend payments	(8,147)	(7,472)	(16,274)	(14,912)
Payment of interest rate derivative liability	0	(3,789)	0	(3,789)
Payment of debt issuance costs	0	(1,008)	(1,390)	(6,132)
Other	(771)	1,879	(1,619)	958
Net cash from (used in) financing activities	8,747	16,135	(298,986)	17,705
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(9,835)	5,916	(9,300)	6,434
Net increase (decrease) in cash, cash equivalents and restricted cash	55,916	(43,322)	(191,256)	3,747
Cash, cash equivalents and restricted cash, beginning of period	213,566	187,965	460,738	140,896
Cash, cash equivalents and restricted cash, end of period	269,482	144,643	269,482	144,643
Cash paid during the period for
Cash paid for interest	4,424	16,425	15,696	20,881
Cash paid for income taxes	2,742	2,677	4,220	5,204
Noncash Investing and Financing Items [Abstract]
Leased production equipment	$ 12,126	$ 0	$ 12,126	$ 139

The Company And Summary Of Sign

The Company And Summary Of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
The Company And Summary Of Significant Accounting Policies	The Company and Summary of Significant Accounting Policies Nature of Operations and Basis of Presentation The Interim Consolidated Financial Statements contained herein include the accounts of Mercer International Inc. (“Mercer Inc.”) and all of its subsidiaries (collectively the “Company”). The Company’s shares of common stock are quoted and listed for trading on the NASDAQ Global Market. The Interim Consolidated Financial Statements have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). The year-end Consolidated Balance Sheet data was derived from audited financial statements. The footnote disclosure included herein has been prepared in accordance with accounting principles generally accepted for interim financial statements in the United States (“GAAP”). The unaudited Interim Consolidated Financial Statements should be read together with the audited Consolidated Financial Statements and accompanying notes included in the Company’s latest Annual Report on Form 10‑K for the fiscal year ended December 31, 2017. In the opinion of the Company, the unaudited Interim Consolidated Financial Statements contained herein contain all adjustments necessary for a fair statement of the results of the interim periods included. The results for the periods included herein may not be indicative of the results for the entire year. In these Interim Consolidated Financial Statements, unless otherwise indicated, all amounts are expressed in United States dollars (“U.S. dollars” or “$”). The symbol “€” refers to euros and the symbol “C$” refers to Canadian dollars. Use of Estimates Preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant management judgment is required in determining the accounting for, among other things, pension and other post-retirement benefit obligations, deferred income taxes (valuation allowance and permanent reinvestment), depreciation and amortization, future cash flows associated with impairment testing for long-lived assets, the allocation of the purchase price in a business combination to the assets acquired and liabilities assumed, legal liabilities and contingencies. Actual results could differ materially from these estimates, and changes in these estimates are recorded when known. New Accounting Pronouncements Accounting Pronouncements Implemented In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09, Revenue Recognition – Revenue from Contracts with Customers that requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. Additionally, the update provides presentation and disclosure requirements which are more detailed in regards to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted this standard as at January 1, 2018 using the modified retrospective method. The new standard does not change the timing of when the Company recognizes revenue as the majority of the Company's revenue arises from contracts with customers in which the sale of goods is the main performance obligation. The Company's revised revenue recognition disclosure has been included in the Significant Accounting Policies and the Business Segment Information Note. In March 2017, the FASB issued Accounting Standards Update 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-Retirement Benefit Cost which requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. The Company adopted this standard as at January 1, 2018. For the three and six month periods ended June 30, 2018, $289 and $582 of the net benefit cost, respectively, has been recorded in other income (expenses) in the Interim Consolidated Statement of Operations. For the three and six month periods ended June 30, 2017, $376 and $736 , respectively, has been reclassified from operating costs, excluding depreciation and amortization to other income (expenses) in the Interim Consolidated Statement of Operations. In January 2018, the FASB released guidance on the accounting for tax on the global intangible low-taxed income (“GILTI”) provisions of the Tax Cuts and Jobs Act (the “Act”). The GILTI provisions impose a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The Company has elected to treat any potential GILTI inclusions as a period cost. Accounting Pronouncements Not Yet Implemented In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases ("ASU 2016-02") which requires lessees to recognize virtually all of their leases on the balance sheet, by recording a right-of-use asset and liability. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, with early adoption permitted at the beginning of an interim or annual reporting period. The Company is currently assessing the impact the adoption of ASU 2016-02 will have on its consolidated financial statements. In February 2018, the FASB issued Accounting Standards Update 2018-02, Income Statement - Reporting Comprehensive Income which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Act. This standard is effective for fiscal years beginning after December 15, 2018, and should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Act is recognized. The Company believes this new standard will not have an impact on its consolidated financial statements. In June 2018, the FASB issued Accounting Standards Update 2018-07, Compensation - Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting which both clarifies and modifies accounting requirements relating to nonemployee share based payment transactions. The Company believes this new standard will not have an impact on its consolidated financial statements. Significant Accounting Policies Revenue Recognition The Company recognizes revenue when obligations under the terms of a contract with its customer are satisfied; generally this occurs with the transfer of control of the products sold. Transfer of control to the customer is based on the standardized shipping terms in the contract as this determines when the Company has the right to payment, the customer has legal title to the asset and the customer has the risks of ownership. Payment terms are defined in the contract and payment is typically due within three months after control has transferred to the customer. The contracts do not have a significant financing component. The Company has elected to exclude value added, sales and other taxes it collects concurrent with revenue-producing activities from revenues. The Company may arrange shipping and handling activities as part of the sale of its products. The Company has elected to account for shipping and handling activities that occur after the customer has obtained control of the product as a fulfillment cost rather than as an additional promised service. The following is a description of the principal activities from which the Company generates its revenues. For a breakdown of revenues by product and geographic location see the Business Segment Information Note. Pulp and Lumber Revenues For European sales sent by truck or train from the mills directly to the customer, the contracted sales terms are such that control transfers once the truck or train leaves the mill. For orders sent by ocean freighter, the contract terms state that control transfers at the time the product passes the ships rail. For North American sales shipped by truck or train, the contracts state that control transfers once the truck or train has arrived at the customer’s specified location. The transaction price is included in the sales contract and is net of customer discounts, rebates and other selling concessions. The Company’s pulp sales are to tissue and paper producers and the Company’s lumber sales are to manufacturers and retailers. The Company’s sales to Europe and North America are direct to the customer. The Company's pulp sales to overseas customers are primarily through third party sales agents and the Company's lumber sales to overseas customers are either direct to the customer or through third party sales agents. By-Product Revenues Energy sales are to utility companies in Canada and Germany. Sales of energy are recognized as the electricity is consumed by the customer and is based on contractual usage rates and meter readings that measure electricity consumption. Chemicals and wood residuals are sold into the European market direct to the customer and hav e shipping terms where control transfers once the chemicals or wood residuals are loaded onto the truck at the mill.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2018
Inventory, Net [Abstract]
Inventories	Inventories June 30, December 31, 2018 2017 Raw materials $ 77,844 $ 49,137 Finished goods 42,518 58,364 Spare parts and other 68,871 69,100 $ 189,233 $ 176,601

Accounts Payable and Other

Accounts Payable and Other	6 Months Ended
	Jun. 30, 2018
Payables and Accruals [Abstract]
Accounts Payable and Other	Accounts Payable and Other June 30, December 31, 2018 2017 Trade payables $ 49,175 $ 36,151 Accrued expenses 90,733 67,528 Interest payable 16,505 10,093 Income tax payable 10,941 4,324 Legal cost award payable (Note 11(c)) 6,951 — Dividends payable 8,150 8,126 Other 5,077 7,335 $ 187,532 $ 133,557

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt June 30, December 31, 2018 2017 2022 Senior Notes, principal amount, $100,000 (a) $ 98,780 $ 394,565 2024 Senior Notes, principal amount, $250,000 (a) 245,776 245,398 2026 Senior Notes, principal amount, $300,000 (a) 294,203 293,773 Revolving credit facilities €75.0 million (b) — — C$40.0 million (c) — — €70.0 million (d) 34,974 25,185 €5.0 million (e) — — €25.0 million (f) 25,528 — $ 699,261 $ 958,921 As at June 30, 2018 , the maturities of the principal portion of debt are as follows: 2018 $ — 2019 — 2020 25,528 2021 — 2022 134,974 Thereafter 550,000 $ 710,502 Certain of the Company’s debt instruments were issued under agreements which, among other things, may limit its ability and the ability of its subsidiaries to make certain payments, including dividends. These limitations are subject to specific exceptions. As at June 30, 2018 , the Company is in compliance with the terms of its debt agreements. (a) On December 20, 2017, the Company issued $300,000 in aggregate principal amount of 5.50% senior notes which mature on January 15, 2026 ("2026 Senior Notes"). The 2026 Senior Notes were issued at a price of 100.00% of their principal amount. The net proceeds of the offering were $293,795 , after deducting the underwriter's discount and offering expenses. In January 2018, the Company used the net proceeds, together with cash on hand, to redeem $300,000 in aggregate principal amount of 2022 Senior Notes (herein defined below). In connection with this redemption the Company recorded a loss on settlement of debt of $21,515 in the Interim Consolidated Statement of Operations. As at December 31, 2017, the total cash used to redeem the 2022 Senior Notes was classified as restricted cash and the carrying value of the 2022 Senior Notes was classified as a current liability in the Consolidated Balance Sheet. On February 3, 2017, the Company issued $225,000 in aggregate principal amount of 6.50% senior notes which mature on February 1, 2024 (“2024 Senior Notes”) and on March 16, 2017, the Company issued an additional $25,000 in aggregate principal amount of its 2024 Senior Notes. The 2024 Senior Notes were issued at a price of 100.00% of their principal amount. The net proceeds of the offerings were $244,711 , after deducting the underwriter's discount and offering expenses. The net proceeds from the 2024 Senior Notes, together with cash on hand, were used to redeem $227,000 of remaining aggregate principal amount of outstanding senior notes due 2019, to finance the acquisition of a German sawmill and bio-mass power plant near Friesau Germany (the "Friesau Facility") and for general working capital purposes. In connection with the redemption the Company recorded a loss on settlement of debt of $10,696 in the Interim Consolidated Statement of Operations. On November 26, 2014 , the Company issued $400,000 in aggregate principal amount of 7.75% senior notes which mature on December 1, 2022 (“2022 Senior Notes” and collectively with the 2024 Senior Notes and 2026 Senior Notes, the “Senior Notes”). The Senior Notes are general unsecured senior obligations of the Company. They rank equal in right of payment with all existing and future unsecured senior indebtedness of the Company and are senior in right of payment to any current or future subordinated indebtedness of the Company. The Senior Notes are effectively junior in right of payment to all existing and future secured indebtedness, to the extent of the assets securing such indebtedness, and all indebtedness and liabilities of the Company’s subsidiaries. The Company may redeem all or a part of the 2026 Senior Notes, upon not less than 10 days ’ or more than 60 days ’ notice, at the redemption prices (expressed as percentages of principal amount) discussed below, plus accrued and unpaid interest to (but not including) the applicable redemption date. The Company may redeem all or a part of the 2024 Senior Notes or 2022 Senior Notes, upon not less than 30 days ’ or more than 60 days ’ notice, at the redemption prices (expressed as percentages of principal amount) discussed below, plus accrued and unpaid interest to (but not including) the applicable redemption date. The 2026 Senior Notes redemption prices are equal to 102.750% for the twelve month period beginning on January 15, 2021, 101.375% for the twelve month period beginning on January 15, 2022, and 100.000% beginning on January 15, 2023 and at any time thereafter. The 2024 Senior Notes redemption prices are equal to 103.250% for the twelve month period beginning on February 1, 2020, 101.625% for the twelve month period beginning on February 1, 2021, and 100.000% beginning on February 1, 2022 and at any time thereafter. The 2022 Senior Notes redemption prices are equal to 105.813% for the twelve month period beginning on December 1, 2017, 103.875% for the twelve month period beginning on December 1, 2018, 101.938% for the twelve month period beginning on December 1, 2019, and 100.000% beginning on December 1, 2020 and at any time thereafter. (b) A €75.0 million revolving credit facility at the Stendal mill that matures in October 2019 . Borrowings under the facility are collateralized by the mill’s inventory and accounts receivable and bear interest at Euribor plus 3.50% . As at June 30, 2018 , approximately €2.2 million ( $2,592 ) of this facility was supporting bank guarantees leaving approximately €72.8 million ( $84,843 ) available. (c) A C$40.0 million revolving credit facility at the Celgar mill that matures in May 2019 . Borrowings under the facility are collateralized by the mill’s inventory and accounts receivable and are restricted by a borrowing base calculated on the mill’s inventory and accounts receivable. Canadian dollar denominated amounts bear interest at bankers acceptance plus 1.50% or Canadian prime . U.S. dollar denominated amounts bear interest at LIBOR plus 1.50% or U.S. base . As at June 30, 2018 , approximately C$1.7 million ( $1,290 ) was supporting letters of credit and approximately C$38.3 million ( $29,086 ) was available. In July 2018, the Company amended the credit facility including extending its maturity date to July 2023 and reducing the applicable margin on interest rates for Canadian and U.S. dollar denominated balances by 0.25% when the remaining borrowing capacity is greater than or equal to 25% of the total facility. (d) A €70.0 million joint revolving credit facility that matures in April 2022 . The Rosenthal mill has full access to the available amount under the facility and the Company's wholly owned subsidiary, Mercer Timber Products GmbH has access to a maximum of €45.0 million . Borrowings under the facility are collateralized by the borrowers' inventory and accounts receivable and bear interest at Euribor plus 2.95% . As at June 30, 2018 , approximately €30.0 million ( $34,974 ) of this facility was drawn and accruing interest at a rate of 2.95% and approximately €11.6 million ( $13,478 ) of this facility was supporting bank guarantees leaving approximately €28.4 million ( $33,154 ) available. (e) A €5.0 million revolving credit facility at the Rosenthal mill that matures in December 2018 . Borrowings under this facility bear interest at the rate of the three-month Euribor plus 2.50% and are secured by certain land at the Rosenthal mill. As at June 30, 2018 approximately €2.6 million ( $2,975 ) of this facility was supporting bank guarantees leaving approximately €2.4 million ( $2,854 ) available. (f) A €25.0 million revolving credit facility for the Company's wholly owned German subsidiary, Mercer Holz GmbH (“Mercer Holz”), that matures in February 2020 . Borrowings under this facility bear interest at Euribor plus 3.30% and are secured by Mercer Holz's inventory and accounts receivable. As at June 30, 2018 , approximately €21.9 million ( $25,528 ) of this facility was drawn and accruing interest at a rate of 3.30% and approximately €0.3 million ( $373 ) of this facility was supporting bank guarantees leaving approximately €2.8 million ( $3,244 ) available.

Pension and Other Post-Retireme

Pension and Other Post-Retirement Benefit Obligations	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure	Pension and Other Post-Retirement Benefit Obligations Defined Benefit Plans Included in pension and other post-retirement benefit obligations are amounts related to the Company’s Celgar and Rosenthal mills. The largest component of these obligations is with respect to the Celgar mill which maintains a defined benefit pension plan and other post-retirement benefit plans for certain employees (the “Celgar Defined Benefit Plans”). Pension benefits are based on employees’ earnings and years of service. The Celgar Defined Benefit Plans are funded by contributions from the Company based on actuarial estimates and statutory requirements. The components of the net benefit costs relating to the Celgar Defined Benefit Plans for the three and six month periods ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, 2018 2017 Pension Other Post-Retirement Benefits Pension Other Post-Retirement Benefits Service cost $ 26 $ 117 $ 23 $ 141 Interest cost 317 178 324 229 Expected return on plan assets (384 ) — (486 ) — Amortization of unrecognized items 230 (52 ) 270 39 Net benefit costs $ 189 $ 243 $ 131 $ 409 Six Months Ended June 30, 2018 2017 Pension Other Post-Retirement Benefits Pension Other Post-Retirement Benefits Service cost $ 52 $ 237 $ 46 $ 284 Interest cost 640 360 652 461 Expected return on plan assets (777 ) — (979 ) — Amortization of unrecognized items 464 (105 ) 527 75 Net benefit costs $ 379 $ 492 $ 246 $ 820 Defined Contribution Plan Effective December 31, 2008, the Celgar Defined Benefit Plans were closed to new members. In addition, the defined benefit service accrual ceased on December 31, 2008, and members began to receive pension benefits, at a fixed contractual rate, under a new defined contribution plan effective January 1, 2009. During the three and six month periods ended June 30, 2018 , the Company made contributions of $217 and $435 , respectively ( 2017 – $192 and $459 ), to this plan. Multiemployer Plan The Company participates in a multiemployer plan for the hourly-paid employees at the Celgar mill. The contributions to the plan are determined based on a percentage of pensionable earnings pursuant to a collective bargaining agreement. The Company has no current or future contribution obligations in excess of the contractual contributions. During the three and six month periods ended June 30, 2018 , the Company made contributions of $658 and $1,145 , respectively ( 2017 – $568 and $1,046 ), to this plan.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax provision attributable to income before provision for income taxes in the Interim Consolidated Statements of Operations differs from the amount computed by applying the U.S. Federal statutory income tax rate of 21% (2017 - 35%) for the three and six month periods ended June 30, 2018 and 2017 as a result of the following: Three Months Ended Six Months Ended 2018 2017 2018 2017 U.S. Federal statutory rate 21% 35% 21% 35% U.S. Federal statutory rate on income before provision for income taxes $ (5,296 ) $ (1,988 ) $ (12,694 ) $ (8,010 ) Tax differential on foreign income (2,639 ) 550 (7,228 ) 2,967 Effect of foreign earnings (5,740 ) — (8,457 ) — Change in undistributed earnings — (2,983 ) — (5,465 ) Valuation allowance 3,773 (5,200 ) 22,018 (9,354 ) Tax benefit of partnership structure 1,380 1,230 2,277 2,446 Non-taxable foreign subsidies 732 550 1,488 1,109 True-up of prior year taxes (426 ) (490 ) (14,493 ) (110 ) Foreign exchange on valuation allowance (352 ) 926 (674 ) 1,163 Foreign exchange on settlement of debt — — — 550 Other 107 (379 ) (279 ) (561 ) $ (8,461 ) $ (7,784 ) $ (18,042 ) $ (15,265 ) Comprised of: Current income tax provision $ (7,257 ) $ (3,588 ) $ (12,026 ) $ (6,860 ) Deferred income tax provision (1,204 ) (4,196 ) (6,016 ) (8,405 ) $ (8,461 ) $ (7,784 ) $ (18,042 ) $ (15,265 ) During the three month period ended June 30, 2018, the Company amended previously filed tax returns with the Canadian tax authorities. As a result, the Company reversed its unrecognized tax benefit of $16,677 recorded during the three month period ended March 31, 2018 and increased its true-up of prior year taxes. The liability related to the amendment is fully offset by a reduction in the valuation allowance and the Company did not incur any interest or penalties. The Act enacted on December 22, 2017 resulted in substantial changes including reducing the U.S. federal corporate income tax rate from 35% to 21% and requiring companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred. The Company applied the guidance in Staff Accounting Bulletin No. 118 and at December 31, 2017 calculated its best estimate of the impact of the Act in its year end income tax provision. During the three and six month periods ended June 30, 2018, the Company did not record any measurement period adjustments to the provisional estimates recorded at December 31, 2017. Final accounting for these impacts is expected in the third quarter of 2018 subsequent to the Company's completion of the 2017 tax return.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net income (loss) Basic and diluted $ 16,755 $ (2,104 ) $ 42,404 $ 7,622 Net income (loss) per common share Basic and diluted $ 0.26 $ (0.03 ) $ 0.65 $ 0.12 Weighted average number of common shares outstanding: Basic (1) 65,140,802 64,945,675 65,095,788 64,857,300 Effect of dilutive shares: Performance Share Units (“PSUs”) 520,920 — 506,475 438,204 Restricted shares 20,959 — 26,737 22,539 Diluted 65,682,681 64,945,675 65,629,000 65,318,043 (1) For the three and six month periods ended June 30, 2018 , the basic weighted average number of common shares outstanding excludes 31,130 restricted shares which have been issued, but have not vested as at June 30, 2018 ( 2017 – 43,635 restricted shares). The calculation of diluted net income (loss) per common share does not assume the exercise of any instruments that would have an anti-dilutive effect on net income (loss) per common share. The following table summarizes the instruments excluded from the calculation of net income (loss) per common share because they were anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 PSUs — 1,953,308 — — Restricted shares — 43,635 — —

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Dividends During the six month period ended June 30, 2018, the Company's Board of Directors declared the following quarterly dividends: Date Declared Dividend Per Amount February 15, 2018 $ 0.125 $ 8,147 May 3, 2018 0.125 8,150 $ 0.250 $ 16,297 Dividends are paid in the quarter subsequent to the quarter in which they were declared. In July 2018 , the Company’s Board of Directors declared a quarterly dividend of $0.125 per common share. Payment of the dividend will be made on October 3, 2018 to all shareholders of record on September 26, 2018 . Future dividends are subject to approval by the Board of Directors and may be adjusted as business and industry conditions warrant. Stock Based Compensation In June 2010, the Company adopted a stock incentive plan which provides for options, restricted stock rights, restricted shares, performance shares, PSUs and stock appreciation rights to be awarded to employees, consultants and non-employee directors. During the six month period ended June 30, 2018 , there were no issued and outstanding options, restricted stock rights, performance shares or stock appreciation rights. As at June 30, 2018 , after factoring in all allocated shares, there remain approximately 2.8 million common shares available for grant. PSUs PSUs comprise rights to receive common shares at a future date that are contingent on the Company and the grantee achieving certain performance objectives. The performance objective period is generally three years. For the three and six month periods ended June 30, 2018 , the Company recognized an expense of $1,630 and $1,694 , respectively related to PSUs ( 2017 – $804 and $555 ). The following table summarizes PSU activity during the period: Number of PSUs Outstanding as at January 1, 2018 1,867,158 Granted 652,548 Vested and issued (153,243 ) Forfeited (330,455 ) Outstanding as at June 30, 2018 2,036,008 Restricted Shares Restricted shares generally vest at the end of one year. Expense recognized for the three and six month periods ended June 30, 2018 was $129 and $258 ( 2017 – $108 and $196 ). As at June 30, 2018 , the total remaining unrecognized compensation cost related to restricted shares amounted to approximately $477 which will be amortized over the remaining vesting periods. The following table summarizes restricted share activity during the period: Number of Restricted Shares Outstanding as at January 1, 2018 43,635 Granted 31,130 Vested (43,635 ) Outstanding as at June 30, 2018 31,130 Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss are as follows: Foreign Currency Translation Adjustment Defined Benefit Pension and Other Post-Retirement Benefit Items Unrealized Gains / Losses on Marketable Securities Total Balance as at January 1, 2018 $ (50,083 ) $ (8,900 ) $ (18 ) $ (59,001 ) Other comprehensive income (loss) before reclassifications (39,522 ) (1,087 ) 27 (40,582 ) Amounts reclassified from accumulated other comprehensive loss — 359 — 359 Other comprehensive income (loss) (39,522 ) (728 ) 27 (40,223 ) Balance as at June 30, 2018 $ (89,605 ) $ (9,628 ) $ 9 $ (99,224 )

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Business Segment Information The Company is managed based on the primary products it manufactures: pulp and wood products. Accordingly, the Company's three pulp mills are aggregated into the pulp business segment and the Friesau Facility from its acquisition date of April 12, 2017 is a separate reportable business segment, wood products. None of the income or loss items following operating income in the Company's Interim Consolidated Statement of Operations are allocated to the segments, since those items are reviewed separately by management. The following tables shows information by reportable business segments for the three and six month periods ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 Pulp Wood Products Corporate and Other Consolidated Revenues from external customers $ 291,632 $ 54,900 $ — $ 346,532 Operating income (loss) $ 36,976 $ 4,322 $ (3,822 ) $ 37,476 Depreciation and amortization $ 21,127 $ 1,779 $ 108 $ 23,014 Revenues by major products Pulp $ 279,939 $ — $ — $ 279,939 Lumber — 48,991 — 48,991 Energy and chemicals 11,693 3,255 — 14,948 Wood residuals — 2,654 — 2,654 Total revenues $ 291,632 $ 54,900 $ — $ 346,532 Revenues by geographical markets U.S. $ 5,653 $ 15,249 $ — $ 20,902 Germany 116,205 22,094 — 138,299 China 75,356 — — 75,356 Other countries 94,418 17,557 — 111,975 Total revenues $ 291,632 $ 54,900 $ — $ 346,532 Three Months Ended June 30, 2017 Pulp Wood Products Corporate and Other Consolidated Revenues from external customers $ 265,886 $ 17,291 $ — $ 283,177 Operating income (loss) $ 21,069 $ 81 $ (2,287 ) $ 18,863 Depreciation and amortization $ 19,387 $ 1,134 $ 104 $ 20,625 Revenues by major products Pulp $ 244,684 $ — $ — $ 244,684 Lumber — 13,593 — 13,593 Energy and chemicals 21,202 2,645 — 23,847 Wood residuals — 1,053 — 1,053 Total revenues $ 265,886 $ 17,291 $ — $ 283,177 Revenues by geographical markets U.S. $ 6,694 $ — $ — $ 6,694 Germany 103,438 11,636 — 115,074 China 74,779 — — 74,779 Other countries 80,975 5,655 — 86,630 Total revenues $ 265,886 $ 17,291 $ — $ 283,177 Six Months Ended June 30, 2018 Pulp Wood Products Corporate and Other Consolidated Revenues from external customers $ 605,867 $ 108,568 $ — $ 714,435 Operating income (loss) $ 111,030 $ 7,304 $ (4,810 ) $ 113,524 Depreciation and amortization $ 42,650 $ 3,465 $ 218 $ 46,333 Total assets $ 1,351,996 $ 131,092 $ 39,301 $ 1,522,389 Revenues by major products Pulp $ 570,490 $ — $ — $ 570,490 Lumber — 97,159 — 97,159 Energy and chemicals 35,377 6,036 — 41,413 Wood residuals — 5,373 — 5,373 Total revenues $ 605,867 $ 108,568 $ — $ 714,435 Revenues by geographical markets U.S. $ 11,303 $ 31,654 $ — $ 42,957 Germany 240,943 43,860 — 284,803 China 159,837 — — 159,837 Other countries 193,784 33,054 — 226,838 Total revenues $ 605,867 $ 108,568 $ — $ 714,435 Six Months Ended June 30, 2017 Pulp Wood Products Corporate and Other Consolidated Revenues from external customers $ 508,670 $ 17,291 $ — $ 525,961 Operating income (loss) $ 63,429 $ 81 $ (3,301 ) $ 60,209 Depreciation and amortization $ 38,503 $ 1,134 $ 209 $ 39,846 Revenues by major products Pulp $ 465,496 $ — $ — $ 465,496 Lumber — 13,593 — 13,593 Energy and chemicals 43,174 2,645 — 45,819 Wood residuals — 1,053 — 1,053 Total revenues $ 508,670 $ 17,291 $ — $ 525,961 Revenues by geographical markets U.S. $ 11,118 $ — $ — $ 11,118 Germany 201,463 11,636 — 213,099 China 133,676 — — 133,676 Other countries 162,413 5,655 — 168,068 Total revenues $ 508,670 $ 17,291 $ — $ 525,961 Revenues between segments are accounted for at prices that approximate fair value. These include revenues from the sale of residual fiber from the wood products segment to the pulp segment for use in the pulp production process and from the sale of residual fuel from the pulp segment to the wood products segment for use in energy production. For the three and six month periods ended June 30, 2018, the pulp segment sold $556 and $910 , respectively of residual fuel to the wood products segment (2017 - $nil) and the wood products segment sold $5,096 and $10,045 , respectively of residual fiber to the pulp segment (2017 - $2,986 and $2,986 ). As at December 31, 2017, the Company had total assets of $1,253,545 in the pulp segment, $116,320 in the wood products segment and $354,845 in corporate and other.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurement	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Financial Instruments and Fair Value Measurement Due to their short-term maturity, the carrying amounts of cash and cash equivalents, restricted cash, accounts receivable and accounts payable and other approximates their fair value. The fair value of the senior notes classified as Level 2 was determined using quoted prices in a dealer market, or using recent market transactions. The following tables present a summary of the Company’s outstanding financial instruments and their estimated fair values under the fair value hierarchy: Fair value measurements as at June 30, 2018 using: Description Level 1 Level 2 Level 3 Total Revolving credit facilities $ — $ 60,502 $ — $ 60,502 Senior notes — 649,125 — 649,125 $ — $ 709,627 $ — $ 709,627 Fair value measurements as at December 31, 2017 using: Description Level 1 Level 2 Level 3 Total Revolving credit facilities $ — $ 25,185 $ — $ 25,185 Senior notes — 989,125 — 989,125 $ — $ 1,014,310 $ — $ 1,014,310 Credit Risk The Company’s credit risk is primarily attributable to cash held in bank accounts and accounts receivable. The Company maintains cash balances in foreign financial institutions in excess of insured limits. The Company limits its credit exposure on cash held in bank accounts by periodically investing cash in excess of short-term operating requirements and debt obligations in low risk government bonds, or similar debt instruments. The Company’s credit risk associated with the sale of pulp, lumber and other wood residuals is managed through setting credit limits, the purchase of credit insurance and for certain customers a letter of credit is received prior to shipping the product. Concentrations of credit risk on the sale of pulp, lumber and other wood residuals are with customers and agents based primarily in Germany, China and Italy. The carrying amount of cash and cash equivalents of $269,482 and accounts receivable of $190,807 recorded in the Interim Consolidated Balance Sheet, net of any allowances for losses, represents the Company’s maximum exposure to credit risk.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies (a) The Company is involved in legal actions and claims arising in the ordinary course of business. While the outcome of any legal actions and claims cannot be predicted with certainty, it is the opinion of management that the outcome of any such claims which are pending or threatened, either individually or on a combined basis, will not have a material adverse effect on the consolidated financial condition, results of operations or liquidity of the Company. (b) The Company is subject to regulations that require the handling and disposal of asbestos in a prescribed manner if a property undergoes a major renovation or demolition. Otherwise, the Company is not required to remove asbestos from its facilities. Generally asbestos is found on steam and condensate piping systems as well as certain cladding on buildings and in building insulation throughout older facilities. The Company’s obligation for the proper removal and disposal of asbestos products from the Company’s mills is a conditional asset retirement obligation. As a result of the longevity of the Company’s mills, due in part to the maintenance procedures and the fact that the Company does not have plans for major changes that require the removal of asbestos, the timing of the asbestos removal is indeterminate. As a result, the Company is currently unable to reasonably estimate the fair value of its asbestos removal and disposal obligation. The Company will recognize a liability in the period in which sufficient information is available to reasonably estimate its fair value. (c) In March 2018, the Company announced it had received the decision of the tribunal in respect of its previously initiated claim in January 2012 against the Government of Canada under the North American Free Trade Agreement (“NAFTA”). The basis of the claim was that the Celgar mill had received discriminatory treatment regarding its ability to purchase and sell energy compared to other pulp mills and entities that generate and sell electricity within the Province of British Columbia. The tribunal ruled that there was no violation of NAFTA and as is customary in these matters, the tribunal awarded costs to the Government of Canada of approximately $6,951 .

The Company And Summary Of Si19

The Company And Summary Of Significant Accounting Policies (Policy)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company recognizes revenue when obligations under the terms of a contract with its customer are satisfied; generally this occurs with the transfer of control of the products sold. Transfer of control to the customer is based on the standardized shipping terms in the contract as this determines when the Company has the right to payment, the customer has legal title to the asset and the customer has the risks of ownership. Payment terms are defined in the contract and payment is typically due within three months after control has transferred to the customer. The contracts do not have a significant financing component. The Company has elected to exclude value added, sales and other taxes it collects concurrent with revenue-producing activities from revenues. The Company may arrange shipping and handling activities as part of the sale of its products. The Company has elected to account for shipping and handling activities that occur after the customer has obtained control of the product as a fulfillment cost rather than as an additional promised service. The following is a description of the principal activities from which the Company generates its revenues. For a breakdown of revenues by product and geographic location see the Business Segment Information Note. Pulp and Lumber Revenues For European sales sent by truck or train from the mills directly to the customer, the contracted sales terms are such that control transfers once the truck or train leaves the mill. For orders sent by ocean freighter, the contract terms state that control transfers at the time the product passes the ships rail. For North American sales shipped by truck or train, the contracts state that control transfers once the truck or train has arrived at the customer’s specified location. The transaction price is included in the sales contract and is net of customer discounts, rebates and other selling concessions. The Company’s pulp sales are to tissue and paper producers and the Company’s lumber sales are to manufacturers and retailers. The Company’s sales to Europe and North America are direct to the customer. The Company's pulp sales to overseas customers are primarily through third party sales agents and the Company's lumber sales to overseas customers are either direct to the customer or through third party sales agents. By-Product Revenues Energy sales are to utility companies in Canada and Germany. Sales of energy are recognized as the electricity is consumed by the customer and is based on contractual usage rates and meter readings that measure electricity consumption. Chemicals and wood residuals are sold into the European market direct to the customer and hav e shipping terms where control transfers once the chemicals or wood residuals are loaded onto the truck at the mill.
Nature of operations and basis of presentation	Nature of Operations and Basis of Presentation The Interim Consolidated Financial Statements contained herein include the accounts of Mercer International Inc. (“Mercer Inc.”) and all of its subsidiaries (collectively the “Company”). The Company’s shares of common stock are quoted and listed for trading on the NASDAQ Global Market. The Interim Consolidated Financial Statements have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). The year-end Consolidated Balance Sheet data was derived from audited financial statements. The footnote disclosure included herein has been prepared in accordance with accounting principles generally accepted for interim financial statements in the United States (“GAAP”). The unaudited Interim Consolidated Financial Statements should be read together with the audited Consolidated Financial Statements and accompanying notes included in the Company’s latest Annual Report on Form 10‑K for the fiscal year ended December 31, 2017. In the opinion of the Company, the unaudited Interim Consolidated Financial Statements contained herein contain all adjustments necessary for a fair statement of the results of the interim periods included. The results for the periods included herein may not be indicative of the results for the entire year. In these Interim Consolidated Financial Statements, unless otherwise indicated, all amounts are expressed in United States dollars (“U.S. dollars” or “$”). The symbol “€” refers to euros and the symbol “C$” refers to Canadian dollars.
Use of Estimates	Use of Estimates Preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant management judgment is required in determining the accounting for, among other things, pension and other post-retirement benefit obligations, deferred income taxes (valuation allowance and permanent reinvestment), depreciation and amortization, future cash flows associated with impairment testing for long-lived assets, the allocation of the purchase price in a business combination to the assets acquired and liabilities assumed, legal liabilities and contingencies. Actual results could differ materially from these estimates, and changes in these estimates are recorded when known.
New Accounting Pronouncements	New Accounting Pronouncements Accounting Pronouncements Implemented In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09, Revenue Recognition – Revenue from Contracts with Customers that requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. Additionally, the update provides presentation and disclosure requirements which are more detailed in regards to the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted this standard as at January 1, 2018 using the modified retrospective method. The new standard does not change the timing of when the Company recognizes revenue as the majority of the Company's revenue arises from contracts with customers in which the sale of goods is the main performance obligation. The Company's revised revenue recognition disclosure has been included in the Significant Accounting Policies and the Business Segment Information Note. In March 2017, the FASB issued Accounting Standards Update 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-Retirement Benefit Cost which requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. The Company adopted this standard as at January 1, 2018. For the three and six month periods ended June 30, 2018, $289 and $582 of the net benefit cost, respectively, has been recorded in other income (expenses) in the Interim Consolidated Statement of Operations. For the three and six month periods ended June 30, 2017, $376 and $736 , respectively, has been reclassified from operating costs, excluding depreciation and amortization to other income (expenses) in the Interim Consolidated Statement of Operations. In January 2018, the FASB released guidance on the accounting for tax on the global intangible low-taxed income (“GILTI”) provisions of the Tax Cuts and Jobs Act (the “Act”). The GILTI provisions impose a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The Company has elected to treat any potential GILTI inclusions as a period cost. Accounting Pronouncements Not Yet Implemented In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases ("ASU 2016-02") which requires lessees to recognize virtually all of their leases on the balance sheet, by recording a right-of-use asset and liability. This update is effective for financial statements issued for fiscal years beginning after December 15, 2018, with early adoption permitted at the beginning of an interim or annual reporting period. The Company is currently assessing the impact the adoption of ASU 2016-02 will have on its consolidated financial statements. In February 2018, the FASB issued Accounting Standards Update 2018-02, Income Statement - Reporting Comprehensive Income which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Act. This standard is effective for fiscal years beginning after December 15, 2018, and should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Act is recognized. The Company believes this new standard will not have an impact on its consolidated financial statements. In June 2018, the FASB issued Accounting Standards Update 2018-07, Compensation - Stock Compensation - Improvements to Nonemployee Share-Based Payment Accounting which both clarifies and modifies accounting requirements relating to nonemployee share based payment transactions. The Company believes this new standard will not have an impact on its consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2018
Inventory, Net [Abstract]
Components of Inventory	June 30, December 31, 2018 2017 Raw materials $ 77,844 $ 49,137 Finished goods 42,518 58,364 Spare parts and other 68,871 69,100 $ 189,233 $ 176,601

Accounts Payable and Other (Tab

Accounts Payable and Other (Tables)	6 Months Ended
	Jun. 30, 2018
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Other	June 30, December 31, 2018 2017 Trade payables $ 49,175 $ 36,151 Accrued expenses 90,733 67,528 Interest payable 16,505 10,093 Income tax payable 10,941 4,324 Legal cost award payable (Note 11(c)) 6,951 — Dividends payable 8,150 8,126 Other 5,077 7,335 $ 187,532 $ 133,557

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule Of Debt	Debt June 30, December 31, 2018 2017 2022 Senior Notes, principal amount, $100,000 (a) $ 98,780 $ 394,565 2024 Senior Notes, principal amount, $250,000 (a) 245,776 245,398 2026 Senior Notes, principal amount, $300,000 (a) 294,203 293,773 Revolving credit facilities €75.0 million (b) — — C$40.0 million (c) — — €70.0 million (d) 34,974 25,185 €5.0 million (e) — — €25.0 million (f) 25,528 — $ 699,261 $ 958,921 (a) On December 20, 2017, the Company issued $300,000 in aggregate principal amount of 5.50% senior notes which mature on January 15, 2026 ("2026 Senior Notes"). The 2026 Senior Notes were issued at a price of 100.00% of their principal amount. The net proceeds of the offering were $293,795 , after deducting the underwriter's discount and offering expenses. In January 2018, the Company used the net proceeds, together with cash on hand, to redeem $300,000 in aggregate principal amount of 2022 Senior Notes (herein defined below). In connection with this redemption the Company recorded a loss on settlement of debt of $21,515 in the Interim Consolidated Statement of Operations. As at December 31, 2017, the total cash used to redeem the 2022 Senior Notes was classified as restricted cash and the carrying value of the 2022 Senior Notes was classified as a current liability in the Consolidated Balance Sheet. On February 3, 2017, the Company issued $225,000 in aggregate principal amount of 6.50% senior notes which mature on February 1, 2024 (“2024 Senior Notes”) and on March 16, 2017, the Company issued an additional $25,000 in aggregate principal amount of its 2024 Senior Notes. The 2024 Senior Notes were issued at a price of 100.00% of their principal amount. The net proceeds of the offerings were $244,711 , after deducting the underwriter's discount and offering expenses. The net proceeds from the 2024 Senior Notes, together with cash on hand, were used to redeem $227,000 of remaining aggregate principal amount of outstanding senior notes due 2019, to finance the acquisition of a German sawmill and bio-mass power plant near Friesau Germany (the "Friesau Facility") and for general working capital purposes. In connection with the redemption the Company recorded a loss on settlement of debt of $10,696 in the Interim Consolidated Statement of Operations. On November 26, 2014 , the Company issued $400,000 in aggregate principal amount of 7.75% senior notes which mature on December 1, 2022 (“2022 Senior Notes” and collectively with the 2024 Senior Notes and 2026 Senior Notes, the “Senior Notes”). The Senior Notes are general unsecured senior obligations of the Company. They rank equal in right of payment with all existing and future unsecured senior indebtedness of the Company and are senior in right of payment to any current or future subordinated indebtedness of the Company. The Senior Notes are effectively junior in right of payment to all existing and future secured indebtedness, to the extent of the assets securing such indebtedness, and all indebtedness and liabilities of the Company’s subsidiaries. The Company may redeem all or a part of the 2026 Senior Notes, upon not less than 10 days ’ or more than 60 days ’ notice, at the redemption prices (expressed as percentages of principal amount) discussed below, plus accrued and unpaid interest to (but not including) the applicable redemption date. The Company may redeem all or a part of the 2024 Senior Notes or 2022 Senior Notes, upon not less than 30 days ’ or more than 60 days ’ notice, at the redemption prices (expressed as percentages of principal amount) discussed below, plus accrued and unpaid interest to (but not including) the applicable redemption date. The 2026 Senior Notes redemption prices are equal to 102.750% for the twelve month period beginning on January 15, 2021, 101.375% for the twelve month period beginning on January 15, 2022, and 100.000% beginning on January 15, 2023 and at any time thereafter. The 2024 Senior Notes redemption prices are equal to 103.250% for the twelve month period beginning on February 1, 2020, 101.625% for the twelve month period beginning on February 1, 2021, and 100.000% beginning on February 1, 2022 and at any time thereafter. The 2022 Senior Notes redemption prices are equal to 105.813% for the twelve month period beginning on December 1, 2017, 103.875% for the twelve month period beginning on December 1, 2018, 101.938% for the twelve month period beginning on December 1, 2019, and 100.000% beginning on December 1, 2020 and at any time thereafter. (b) A €75.0 million revolving credit facility at the Stendal mill that matures in October 2019 . Borrowings under the facility are collateralized by the mill’s inventory and accounts receivable and bear interest at Euribor plus 3.50% . As at June 30, 2018 , approximately €2.2 million ( $2,592 ) of this facility was supporting bank guarantees leaving approximately €72.8 million ( $84,843 ) available. (c) A C$40.0 million revolving credit facility at the Celgar mill that matures in May 2019 . Borrowings under the facility are collateralized by the mill’s inventory and accounts receivable and are restricted by a borrowing base calculated on the mill’s inventory and accounts receivable. Canadian dollar denominated amounts bear interest at bankers acceptance plus 1.50% or Canadian prime . U.S. dollar denominated amounts bear interest at LIBOR plus 1.50% or U.S. base . As at June 30, 2018 , approximately C$1.7 million ( $1,290 ) was supporting letters of credit and approximately C$38.3 million ( $29,086 ) was available. In July 2018, the Company amended the credit facility including extending its maturity date to July 2023 and reducing the applicable margin on interest rates for Canadian and U.S. dollar denominated balances by 0.25% when the remaining borrowing capacity is greater than or equal to 25% of the total facility. (d) A €70.0 million joint revolving credit facility that matures in April 2022 . The Rosenthal mill has full access to the available amount under the facility and the Company's wholly owned subsidiary, Mercer Timber Products GmbH has access to a maximum of €45.0 million . Borrowings under the facility are collateralized by the borrowers' inventory and accounts receivable and bear interest at Euribor plus 2.95% . As at June 30, 2018 , approximately €30.0 million ( $34,974 ) of this facility was drawn and accruing interest at a rate of 2.95% and approximately €11.6 million ( $13,478 ) of this facility was supporting bank guarantees leaving approximately €28.4 million ( $33,154 ) available. (e) A €5.0 million revolving credit facility at the Rosenthal mill that matures in December 2018 . Borrowings under this facility bear interest at the rate of the three-month Euribor plus 2.50% and are secured by certain land at the Rosenthal mill. As at June 30, 2018 approximately €2.6 million ( $2,975 ) of this facility was supporting bank guarantees leaving approximately €2.4 million ( $2,854 ) available. (f) A €25.0 million revolving credit facility for the Company's wholly owned German subsidiary, Mercer Holz GmbH (“Mercer Holz”), that matures in February 2020 . Borrowings under this facility bear interest at Euribor plus 3.30% and are secured by Mercer Holz's inventory and accounts receivable. As at June 30, 2018 , approximately €21.9 million ( $25,528 ) of this facility was drawn and accruing interest at a rate of 3.30% and approximately €0.3 million ( $373 ) of this facility was supporting bank guarantees leaving approximately €2.8 million ( $3,244 ) available. .
Principal Maturities Of Debt	As at June 30, 2018 , the maturities of the principal portion of debt are as follows: 2018 $ — 2019 — 2020 25,528 2021 — 2022 134,974 Thereafter 550,000 $ 710,502

Pension And Other Post-Retire23

Pension And Other Post-Retirement Benefit Obligations (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	The components of the net benefit costs relating to the Celgar Defined Benefit Plans for the three and six month periods ended June 30, 2018 and 2017 were as follows: Three Months Ended June 30, 2018 2017 Pension Other Post-Retirement Benefits Pension Other Post-Retirement Benefits Service cost $ 26 $ 117 $ 23 $ 141 Interest cost 317 178 324 229 Expected return on plan assets (384 ) — (486 ) — Amortization of unrecognized items 230 (52 ) 270 39 Net benefit costs $ 189 $ 243 $ 131 $ 409 Six Months Ended June 30, 2018 2017 Pension Other Post-Retirement Benefits Pension Other Post-Retirement Benefits Service cost $ 52 $ 237 $ 46 $ 284 Interest cost 640 360 652 461 Expected return on plan assets (777 ) — (979 ) — Amortization of unrecognized items 464 (105 ) 527 75 Net benefit costs $ 379 $ 492 $ 246 $ 820

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Reconciliation of Effective Tax Rate	The income tax provision attributable to income before provision for income taxes in the Interim Consolidated Statements of Operations differs from the amount computed by applying the U.S. Federal statutory income tax rate of 21% (2017 - 35%) for the three and six month periods ended June 30, 2018 and 2017 as a result of the following: Three Months Ended Six Months Ended 2018 2017 2018 2017 U.S. Federal statutory rate 21% 35% 21% 35% U.S. Federal statutory rate on income before provision for income taxes $ (5,296 ) $ (1,988 ) $ (12,694 ) $ (8,010 ) Tax differential on foreign income (2,639 ) 550 (7,228 ) 2,967 Effect of foreign earnings (5,740 ) — (8,457 ) — Change in undistributed earnings — (2,983 ) — (5,465 ) Valuation allowance 3,773 (5,200 ) 22,018 (9,354 ) Tax benefit of partnership structure 1,380 1,230 2,277 2,446 Non-taxable foreign subsidies 732 550 1,488 1,109 True-up of prior year taxes (426 ) (490 ) (14,493 ) (110 ) Foreign exchange on valuation allowance (352 ) 926 (674 ) 1,163 Foreign exchange on settlement of debt — — — 550 Other 107 (379 ) (279 ) (561 ) $ (8,461 ) $ (7,784 ) $ (18,042 ) $ (15,265 ) Comprised of: Current income tax provision $ (7,257 ) $ (3,588 ) $ (12,026 ) $ (6,860 ) Deferred income tax provision (1,204 ) (4,196 ) (6,016 ) (8,405 ) $ (8,461 ) $ (7,784 ) $ (18,042 ) $ (15,265 )

Net Income (Loss) Per Common 25

Net Income (Loss) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The calculation of diluted net income (loss) per common share does not assume the exercise of any instruments that would have an anti-dilutive effect on net income (loss) per common share. The following table summarizes the instruments excluded from the calculation of net income (loss) per common share because they were anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 PSUs — 1,953,308 — — Restricted shares — 43,635 — —
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net income (loss) Basic and diluted $ 16,755 $ (2,104 ) $ 42,404 $ 7,622 Net income (loss) per common share Basic and diluted $ 0.26 $ (0.03 ) $ 0.65 $ 0.12 Weighted average number of common shares outstanding: Basic (1) 65,140,802 64,945,675 65,095,788 64,857,300 Effect of dilutive shares: Performance Share Units (“PSUs”) 520,920 — 506,475 438,204 Restricted shares 20,959 — 26,737 22,539 Diluted 65,682,681 64,945,675 65,629,000 65,318,043 (1) For the three and six month periods ended June 30, 2018 , the basic weighted average number of common shares outstanding excludes 31,130 restricted shares which have been issued, but have not vested as at June 30, 2018 ( 2017 – 43,635 restricted shares).

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The components of accumulated other comprehensive loss are as follows: Foreign Currency Translation Adjustment Defined Benefit Pension and Other Post-Retirement Benefit Items Unrealized Gains / Losses on Marketable Securities Total Balance as at January 1, 2018 $ (50,083 ) $ (8,900 ) $ (18 ) $ (59,001 ) Other comprehensive income (loss) before reclassifications (39,522 ) (1,087 ) 27 (40,582 ) Amounts reclassified from accumulated other comprehensive loss — 359 — 359 Other comprehensive income (loss) (39,522 ) (728 ) 27 (40,223 ) Balance as at June 30, 2018 $ (89,605 ) $ (9,628 ) $ 9 $ (99,224 )
Summary of Dividends Declared	During the six month period ended June 30, 2018, the Company's Board of Directors declared the following quarterly dividends: Date Declared Dividend Per Amount February 15, 2018 $ 0.125 $ 8,147 May 3, 2018 0.125 8,150 $ 0.250 $ 16,297
Performance Share Units [Member]
Stockholders' Equity Note [Abstract]
Summary Of Share Based Compensation Arrangement Activity	The following table summarizes PSU activity during the period: Number of PSUs Outstanding as at January 1, 2018 1,867,158 Granted 652,548 Vested and issued (153,243 ) Forfeited (330,455 ) Outstanding as at June 30, 2018 2,036,008
Restricted Stock [Member]
Stockholders' Equity Note [Abstract]
Summary Of Share Based Compensation Arrangement Activity	The following table summarizes restricted share activity during the period: Number of Restricted Shares Outstanding as at January 1, 2018 43,635 Granted 31,130 Vested (43,635 ) Outstanding as at June 30, 2018 31,130

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following tables shows information by reportable business segments for the three and six month periods ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 Pulp Wood Products Corporate and Other Consolidated Revenues from external customers $ 291,632 $ 54,900 $ — $ 346,532 Operating income (loss) $ 36,976 $ 4,322 $ (3,822 ) $ 37,476 Depreciation and amortization $ 21,127 $ 1,779 $ 108 $ 23,014 Revenues by major products Pulp $ 279,939 $ — $ — $ 279,939 Lumber — 48,991 — 48,991 Energy and chemicals 11,693 3,255 — 14,948 Wood residuals — 2,654 — 2,654 Total revenues $ 291,632 $ 54,900 $ — $ 346,532 Revenues by geographical markets U.S. $ 5,653 $ 15,249 $ — $ 20,902 Germany 116,205 22,094 — 138,299 China 75,356 — — 75,356 Other countries 94,418 17,557 — 111,975 Total revenues $ 291,632 $ 54,900 $ — $ 346,532 Three Months Ended June 30, 2017 Pulp Wood Products Corporate and Other Consolidated Revenues from external customers $ 265,886 $ 17,291 $ — $ 283,177 Operating income (loss) $ 21,069 $ 81 $ (2,287 ) $ 18,863 Depreciation and amortization $ 19,387 $ 1,134 $ 104 $ 20,625 Revenues by major products Pulp $ 244,684 $ — $ — $ 244,684 Lumber — 13,593 — 13,593 Energy and chemicals 21,202 2,645 — 23,847 Wood residuals — 1,053 — 1,053 Total revenues $ 265,886 $ 17,291 $ — $ 283,177 Revenues by geographical markets U.S. $ 6,694 $ — $ — $ 6,694 Germany 103,438 11,636 — 115,074 China 74,779 — — 74,779 Other countries 80,975 5,655 — 86,630 Total revenues $ 265,886 $ 17,291 $ — $ 283,177 Six Months Ended June 30, 2018 Pulp Wood Products Corporate and Other Consolidated Revenues from external customers $ 605,867 $ 108,568 $ — $ 714,435 Operating income (loss) $ 111,030 $ 7,304 $ (4,810 ) $ 113,524 Depreciation and amortization $ 42,650 $ 3,465 $ 218 $ 46,333 Total assets $ 1,351,996 $ 131,092 $ 39,301 $ 1,522,389 Revenues by major products Pulp $ 570,490 $ — $ — $ 570,490 Lumber — 97,159 — 97,159 Energy and chemicals 35,377 6,036 — 41,413 Wood residuals — 5,373 — 5,373 Total revenues $ 605,867 $ 108,568 $ — $ 714,435 Revenues by geographical markets U.S. $ 11,303 $ 31,654 $ — $ 42,957 Germany 240,943 43,860 — 284,803 China 159,837 — — 159,837 Other countries 193,784 33,054 — 226,838 Total revenues $ 605,867 $ 108,568 $ — $ 714,435 Six Months Ended June 30, 2017 Pulp Wood Products Corporate and Other Consolidated Revenues from external customers $ 508,670 $ 17,291 $ — $ 525,961 Operating income (loss) $ 63,429 $ 81 $ (3,301 ) $ 60,209 Depreciation and amortization $ 38,503 $ 1,134 $ 209 $ 39,846 Revenues by major products Pulp $ 465,496 $ — $ — $ 465,496 Lumber — 13,593 — 13,593 Energy and chemicals 43,174 2,645 — 45,819 Wood residuals — 1,053 — 1,053 Total revenues $ 508,670 $ 17,291 $ — $ 525,961 Revenues by geographical markets U.S. $ 11,118 $ — $ — $ 11,118 Germany 201,463 11,636 — 213,099 China 133,676 — — 133,676 Other countries 162,413 5,655 — 168,068 Total revenues $ 508,670 $ 17,291 $ — $ 525,961

Financial Instruments and Fai28

Financial Instruments and Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Outstanding Financial Instruments And Estimated Fair Values	The following tables present a summary of the Company’s outstanding financial instruments and their estimated fair values under the fair value hierarchy: Fair value measurements as at June 30, 2018 using: Description Level 1 Level 2 Level 3 Total Revolving credit facilities $ — $ 60,502 $ — $ 60,502 Senior notes — 649,125 — 649,125 $ — $ 709,627 $ — $ 709,627 Fair value measurements as at December 31, 2017 using: Description Level 1 Level 2 Level 3 Total Revolving credit facilities $ — $ 25,185 $ — $ 25,185 Senior notes — 989,125 — 989,125 $ — $ 1,014,310 $ — $ 1,014,310

The Company And Summary Of Si29

The Company And Summary Of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Summary of Significant Accounting Policies [Line Items]
ASU2017-07 Reclassification to other income	$ 289	$ 376	$ 582	$ 736

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventory, Net [Abstract]
Raw materials	$ 77,844	$ 49,137
Finished goods	42,518	58,364
Spare parts and other	68,871	69,100
Inventories	$ 189,233	$ 176,601

Accounts Payable and Other (Det

Accounts Payable and Other (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Trade payables	$ 49,175	$ 36,151
Accrued expenses	90,733	67,528
Interest payable	16,505	10,093
Income tax payable	10,941	4,324
Legal cost award payable (Note 11(c))	6,951	0
Dividends payable	8,150	8,126
Other	5,077	7,335
Accounts payable and other	$ 187,532	$ 133,557

Debt (Schedule Of Debt) (Detail

Debt (Schedule Of Debt) (Details)	Jun. 30, 2018CAD ($)	Jun. 30, 2018EUR (€)	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 20, 2017USD ($)	Nov. 26, 2014USD ($)
Debt Instrument [Line Items]
Total debt			$ 699,261,000	$ 958,921,000
2022 Senior Notes [Member]
Debt Instrument [Line Items]
Total debt			98,780,000	394,565,000
Debt, face amount			100,000,000			$ 400,000,000
2024 Senior Notes [Member]
Debt Instrument [Line Items]
Total debt			245,776,000	245,398,000
Debt, face amount			250,000,000
2026 Senior Notes [Member]
Debt Instrument [Line Items]
Total debt			294,203,000	293,773,000	$ 293,795,000
Debt, face amount			300,000,000		$ 300,000,000
Stendal Credit Facility - EUR 75.0 Million [Member]
Debt Instrument [Line Items]
Total debt			0	0
Line of credit, maximum borrowing capacity | €		€ 75,000,000
Celgar Credit Facility - C$40.0 Million [Member]
Debt Instrument [Line Items]
Total debt			0	0
Line of credit, maximum borrowing capacity	$ 40,000,000
Rosenthal Credit Facility - EUR 70.0 Million [Member]
Debt Instrument [Line Items]
Total debt		30,000,000	34,974,000	25,185,000
Line of credit, maximum borrowing capacity | €		70,000,000
Rosenthal Credit Facility - EUR 5.0 Million [Member]
Debt Instrument [Line Items]
Total debt			0	0
Line of credit, maximum borrowing capacity | €		5,000,000
Wood Procurement - EUR 25.0 Million [Member]
Debt Instrument [Line Items]
Total debt		21,900,000	$ 25,528,000	$ 0
Line of credit, maximum borrowing capacity | €		€ 25,000,000

Debt (Schedule of Debt Footnote

Debt (Schedule of Debt Footnotes) (Details)

Jan. 05, 2018USD ($)

Dec. 20, 2017USD ($)

Feb. 03, 2017USD ($)

Nov. 26, 2014USD ($)

Jun. 30, 2018USD ($)

Jun. 30, 2017USD ($)

Jun. 30, 2018USD ($)

Jun. 30, 2017USD ($)

Sep. 30, 2018

Jun. 30, 2018CAD ($)

Jun. 30, 2018EUR (€)

Jun. 30, 2018USD ($)

Dec. 31, 2017USD ($)

Mar. 16, 2017USD ($)

Debt Instrument [Line Items]

Debt

$ 699,261,000

$ 958,921,000

Loss on settlement of debt

$ 0

$ 0

$ 21,515,000

$ 10,696,000

2019 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, repurchase amount

$ 227,000,000

Loss on settlement of debt

$ (10,696,000)

2022 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, offering date

Nov. 26, 2014

Debt, maturity date

Dec. 1, 2022

Debt, face amount

$ 400,000,000

100,000,000

Debt, interest rate

7.75%

Debt

98,780,000

394,565,000

Debt, repurchase amount

$ 300,000,000

Loss on settlement of debt

$ (21,515,000)

2024 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, maturity date

Feb. 1, 2024

Debt, face amount

$ 225,000,000

$ 25,000,000

Debt, interest rate

6.50%

Debt, issued price percentage of principal amount

100.00%

Debt

$ 244,711,000

2026 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, maturity date

Jan. 15, 2026

Debt, face amount

$ 300,000,000

300,000,000

Debt, interest rate

5.50%

Debt, issued price percentage of principal amount

100.00%

Debt

$ 293,795,000

294,203,000

293,773,000

Senior Notes, redemption notice minimum days

10 days

Senior Notes, redemption notice maximum days

60 days

Senior Notes 2022 and 2024 [Member]

Debt Instrument [Line Items]

Senior Notes, redemption notice minimum days

30 days

Senior Notes, redemption notice maximum days

60 days

Stendal Credit Facility - EUR 75.0 Million [Member]

Debt Instrument [Line Items]

Debt, maturity date

Oct. 1, 2019

Debt

0

0

Debt, description of variable basis spread

Euribor

Debt, variable basis spread

3.50%

Line of credit, maximum borrowing capacity | €

€ 75,000,000

Line of credit, remaining borrowing capacity

72,776,350

84,843,000

Debt, amount of debt supporting bank guarantees

2,200,000

2,592,000

Celgar Credit Facility - C$40.0 Million [Member]

Debt Instrument [Line Items]

Debt, maturity date

May 1, 2019

Debt

0

0

Line of credit, maximum borrowing capacity

$ 40,000,000

Line of credit, letters of credit outstanding, amount

1,700,000

1,290,000

Line of credit, remaining borrowing capacity

$ 38,300,000

29,086,000

Celgar Credit Facility - C$40.0 Million [Member] | Subsequent Event [Member]

Debt Instrument [Line Items]

Debt, maturity date

Jul. 1, 2023

Debt Instrument, Interest Rate, Increase (Decrease)

0.25%

Required available borrowing capacity

25.00%

Celgar Credit Facility - C$40.0 Million [Member] | Canadian Dollar Borrowings Rate Option 1 [Member]

Debt Instrument [Line Items]

Debt, description of variable basis spread

bankers acceptance

Debt, variable basis spread

1.50%

Celgar Credit Facility - C$40.0 Million [Member] | Canadian Dollar Borrowings Rate Option 2 [Member]

Debt Instrument [Line Items]

Debt, description of variable basis spread

Canadian prime

Celgar Credit Facility - C$40.0 Million [Member] | US Dollar Borrowings Rate Option 1 [Member]

Debt Instrument [Line Items]

Debt, description of variable basis spread

LIBOR

Debt, variable basis spread

1.50%

Celgar Credit Facility - C$40.0 Million [Member] | US Dollar Borrowings Rate Option 2 [Member]

Debt Instrument [Line Items]

Debt, description of variable basis spread

U.S. base

Rosenthal Credit Facility - EUR 5.0 Million [Member]

Debt Instrument [Line Items]

Debt, maturity date

Dec. 1, 2018

Debt

0

0

Debt, description of variable basis spread

three-month Euribor

Debt, variable basis spread

2.50%

Line of credit, maximum borrowing capacity | €

5,000,000

Line of credit, remaining borrowing capacity

2,400,000

2,854,000

Debt, amount of debt supporting bank guarantees

€ 2,600,000

$ 2,975,000

Rosenthal Credit Facility - EUR 70.0 Million [Member]

Debt Instrument [Line Items]

Debt, maturity date

Apr. 1, 2022

Debt, interest rate

2.95%

2.95%

2.95%

Debt

€ 30,000,000

$ 34,974,000

25,185,000

Debt, description of variable basis spread

Euribor

Debt, variable basis spread

2.95%

Line of credit, maximum borrowing capacity | €

70,000,000

Line of credit, remaining borrowing capacity

28,400,000

33,154,000

Debt, amount of debt supporting bank guarantees

€ 11,600,000

$ 13,478,000

Wood Procurement - EUR 25.0 Million [Member]

Debt Instrument [Line Items]

Debt, maturity date

Feb. 1, 2020

Debt, interest rate

3.30%

3.30%

3.30%

Debt

€ 21,900,000

$ 25,528,000

$ 0

Debt, description of variable basis spread

Euribor

Debt, variable basis spread

3.30%

Line of credit, maximum borrowing capacity | €

25,000,000

Line of credit, remaining borrowing capacity

2,800,000

3,244,000

Debt, amount of debt supporting bank guarantees

300,000

$ 373,000

Twelve month period beginning December 1, 2017 [Member] | 2022 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

105.813%

Twelve month period beginning December 1, 2018 [Member] | 2022 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

103.875%

Twelve month period beginning December 1, 2019 [Member] | 2022 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

101.938%

Twelve month period beginning December 1, 2020 and at any time thereafter [Member] | 2022 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

100.00%

Twelve month period beginning February 1, 2020 [Member] | 2024 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

103.25%

Twelve month period beginning February 1, 2021 [Member] | 2024 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

101.625%

Twelve month period beginning February 1, 2022 [Member] | 2024 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

100.00%

Twelve month period beginning January 15, 2021 [Member] | 2026 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

102.75%

Twelve month period beginning January 15, 2022 [Member] | 2026 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

101.375%

Twelve month period beginning January 15, 2023 [Member] | 2026 Senior Notes [Member]

Debt Instrument [Line Items]

Debt, redemption price, percentage

100.00%

Mercer Timber [Member] | Rosenthal Credit Facility - EUR 70.0 Million [Member]

Debt Instrument [Line Items]

Line of credit, maximum borrowing capacity | €

€ 45,000,000

Debt (Principal Maturities Of D

Debt (Principal Maturities Of Debt) (Details) $ in Thousands	Jun. 30, 2018USD ($)
Debt Disclosure [Abstract]
2,018	$ 0
2,019	0
2,020	25,528
2,021	0
2,022	134,974
Thereafter	550,000
Total debt	$ 710,502

Pension And Other Post-Retire35

Pension And Other Post-Retirement Benefit Obligations (Plan Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 26	$ 23	$ 52	$ 46
Interest cost	317	324	640	652
Expected return on plan assets	(384)	(486)	(777)	(979)
Amortization of unrecognized items	230	270	464	527
Net benefit costs	189	131	379	246
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	117	141	237	284
Interest cost	178	229	360	461
Expected return on plan assets	0	0	0	0
Amortization of unrecognized items	(52)	39	(105)	75
Net benefit costs	$ 243	$ 409	$ 492	$ 820

Pension and Other Post-Retire36

Pension and Other Post-Retirement Benefit Obligations Pension and Other Post-Retirement Benefit Obligations (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Contribution Plan Disclosure [Line Items]
Defined Contribution Plan, Contributions	$ 217	$ 192	$ 435	$ 459
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Multiemployer Plan, Contributions by Employer	$ 658	$ 568	$ 1,145	$ 1,046

Income Taxes Income Taxes (Narr

Income Taxes Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Unrecognized Tax Benefits, Period Increase (Decrease)	$ (16,677)
Recognized interest and penalties related to unrecognized tax benefit			$ 0
U.S. Federal statutory rate	21.00%	35.00%	21.00%	35.00%

Income Taxes (Reconciliation Of

Income Taxes (Reconciliation Of Effective Tax Rate) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
U.S. Federal statutory rate	21.00%	35.00%	21.00%	35.00%
U.S. Federal statutory rate on income before provision for income taxes	$ (5,296)	$ (1,988)	$ (12,694)	$ (8,010)
Tax differential on foreign income	(2,639)	550	(7,228)	2,967
Effect of foreign earnings	(5,740)	0	(8,457)	0
Change in undistributed earnings	0	(2,983)	0	(5,465)
Valuation allowance	3,773	(5,200)	22,018	(9,354)
Tax benefit of partnership structure	1,380	1,230	2,277	2,446
Non-taxable foreign subsidies	732	550	1,488	1,109
True-up of prior year taxes	(426)	(490)	(14,493)	(110)
Foreign exchange on valuation allowance	352	(926)	674	(1,163)
Foreign exchange on settlement of debt	0	0	0	(550)
Other	107	(379)	(279)	(561)
Provision for income taxes	(8,461)	(7,784)	(18,042)	(15,265)
Current income tax provision	(7,257)	(3,588)	(12,026)	(6,860)
Deferred income tax provision	$ (1,204)	$ (4,196)	$ (6,016)	$ (8,405)

Net Income (Loss) Per Common 39

Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net Income (Loss) Per Common Share Basic And Diluted [Line Items]
Net income (loss) - basic and diluted	$ 16,755	$ (2,104)	$ 42,404	$ 7,622
Net income (loss) per common share, basic and diluted	$ 0.26	$ (0.03)	$ 0.65	$ 0.12
Weighted Average Number of Shares Outstanding, Basic	65,140,802	64,945,675	65,095,788	64,857,300
Weighted Average Number of Shares Outstanding, Diluted	65,682,681	64,945,675	65,629,000	65,318,043
Performance Share Units [Member]
Net Income (Loss) Per Common Share Basic And Diluted [Line Items]
Effect of dilutive instruments	520,920	0	506,475	438,204
Restricted Stock [Member]
Net Income (Loss) Per Common Share Basic And Diluted [Line Items]
Effect of dilutive instruments	20,959	0	26,737	22,539
Contingently issuable shares excluded from the basic weighted average shares outstanding	31,130	43,635	31,130	43,635

Net Income (Loss) Per Share Att

Net Income (Loss) Per Share Attributable to Common Shareholders (Anti-dilutive Instruments) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Performance Share Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	1,953,308	0	0
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	43,635	0	0

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares available for grant	2,800,000		2,800,000
Restricted Stock Rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			0
Shares outstanding	0		0
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			652,548
Shares outstanding	2,036,008		2,036,008		1,867,158
Vesting period			3 years
Expense recognized	$ 1,630	$ 804	$ 1,694	$ 555
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			0
Shares outstanding	0		0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			31,130
Shares outstanding	31,130		31,130		43,635
Vesting period			1 year
Expense recognized	$ 129	$ 108	$ 258	$ 196
Unrecognized compensation cost	$ 477		$ 477
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			0
Shares outstanding	0		0
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			0
Shares outstanding	0		0

Shareholders' Equity (Summary o

Shareholders' Equity (Summary of Dividends Declared) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 27, 2018	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Dividends Payable [Line Items]
Dividends declared per common share		$ 0.125	$ 0.125	$ 0.115	$ 0.250	$ 0.230
Dividends Payable, Date Declared		May 3, 2018	Feb. 15, 2018
Dividends, Common Stock, Cash		$ 8,150	$ 8,147		$ 16,297
Dividend Declared [Member] | Subsequent Event [Member]
Dividends Payable [Line Items]
Dividends declared per common share	$ 0.125
Dividends Payable, Date Declared	Jul. 26, 2018
Dividends Payable, Date of Record	Sep. 26, 2018
Dividends Payable, Date to be Paid	Oct. 3, 2018

Shareholders' Equity (Summary43

Shareholders' Equity (Summary Of Share Activity - PSU's) (Details) - Performance Share Units [Member]	6 Months Ended
	Jun. 30, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding - Beginning	1,867,158
Granted	652,548
Vested and issued	(153,243)
Forfeited	(330,455)
Outstanding - Ending	2,036,008

Shareholders' Equity (Summary44

Shareholders' Equity (Summary Of Share Activity - Restricted Shares) (Details) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2018shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding - Beginning	43,635
Granted	31,130
Vested	(43,635)
Outstanding - Ending	31,130

Shareholders' Equity Shareholde

Shareholders' Equity Shareholders' Equity (Accumulated Other Comprehensive Income) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	$ (59,001)
Other comprehensive income (loss) before reclassifications	(40,582)
Amounts reclassified from accumulated other comprehensive loss	359
Other comprehensive income (loss), net of taxes	(40,223)
Balance, end of period	(99,224)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(8,900)
Other comprehensive income (loss) before reclassifications	(1,087)
Amounts reclassified from accumulated other comprehensive loss	359
Other comprehensive income (loss), net of taxes	(728)
Balance, end of period	(9,628)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(50,083)
Other comprehensive income (loss) before reclassifications	(39,522)
Amounts reclassified from accumulated other comprehensive loss	0
Other comprehensive income (loss), net of taxes	(39,522)
Balance, end of period	(89,605)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance, beginning of period	(18)
Other comprehensive income (loss) before reclassifications	27
Amounts reclassified from accumulated other comprehensive loss	0
Other comprehensive income (loss), net of taxes	27
Balance, end of period	$ 9

Business Segment Information (S

Business Segment Information (Schedule of Results by Segment) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 346,532,000	$ 283,177,000	$ 714,435,000	$ 525,961,000
Operating income (loss)	37,476,000	18,863,000	113,524,000	60,209,000
Depreciation and amortization	23,014,000	20,625,000	46,333,000	39,846,000
Purchase of property, plant and equipment	28,655,000	19,743,000	44,839,000	27,907,000
Assets	1,522,389,000		1,522,389,000		$ 1,724,710,000
UNITED STATES
Segment Reporting Information [Line Items]
Revenues	20,902,000	6,694,000	42,957,000	11,118,000
Germany
Segment Reporting Information [Line Items]
Revenues	138,299,000	115,074,000	284,803,000	213,099,000
China
Segment Reporting Information [Line Items]
Revenues	75,356,000	74,779,000	159,837,000	133,676,000
Other Countries [Member]
Segment Reporting Information [Line Items]
Revenues	111,975,000	86,630,000	226,838,000	168,068,000
Lumber [Member]
Segment Reporting Information [Line Items]
Revenues	48,991,000	13,593,000	97,159,000	13,593,000
Wood residuals [Member]
Segment Reporting Information [Line Items]
Revenues	2,654,000	1,053,000	5,373,000	1,053,000
Pulp [Member]
Segment Reporting Information [Line Items]
Revenues	279,939,000	244,684,000	570,490,000	465,496,000
Energy and chemicals [Member]
Segment Reporting Information [Line Items]
Revenues	14,948,000	23,847,000	41,413,000	45,819,000
Market Pulp [Member]
Segment Reporting Information [Line Items]
Assets	1,351,996,000		1,351,996,000
Wood Products [Member]
Segment Reporting Information [Line Items]
Assets	131,092,000		131,092,000
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Assets	39,301,000		39,301,000
Operating Segments [Member] | Market Pulp [Member]
Segment Reporting Information [Line Items]
Revenues	291,632,000	265,886,000	605,867,000	508,670,000
Operating income (loss)	36,976,000	21,069,000	111,030,000	63,429,000
Depreciation and amortization	21,127,000	19,387,000	42,650,000	38,503,000
Assets					1,253,545,000
Operating Segments [Member] | Market Pulp [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	5,653,000	6,694,000	11,303,000	11,118,000
Operating Segments [Member] | Market Pulp [Member] | Germany
Segment Reporting Information [Line Items]
Revenues	116,205,000	103,438,000	240,943,000	201,463,000
Operating Segments [Member] | Market Pulp [Member] | China
Segment Reporting Information [Line Items]
Revenues	75,356,000	74,779,000	159,837,000	133,676,000
Operating Segments [Member] | Market Pulp [Member] | Other Countries [Member]
Segment Reporting Information [Line Items]
Revenues	94,418,000	80,975,000	193,784,000	162,413,000
Operating Segments [Member] | Market Pulp [Member] | Lumber [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments [Member] | Market Pulp [Member] | Wood residuals [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments [Member] | Market Pulp [Member] | Pulp [Member]
Segment Reporting Information [Line Items]
Revenues	279,939,000	244,684,000	570,490,000	465,496,000
Operating Segments [Member] | Market Pulp [Member] | Energy and chemicals [Member]
Segment Reporting Information [Line Items]
Revenues	11,693,000	21,202,000	35,377,000	43,174,000
Operating Segments [Member] | Wood Products [Member]
Segment Reporting Information [Line Items]
Revenues	54,900,000	17,291,000	108,568,000	17,291,000
Operating income (loss)	4,322,000	81,000	7,304,000	81,000
Depreciation and amortization	1,779,000	1,134,000	3,465,000	1,134,000
Assets					116,320,000
Operating Segments [Member] | Wood Products [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	15,249,000	0	31,654,000	0
Operating Segments [Member] | Wood Products [Member] | Germany
Segment Reporting Information [Line Items]
Revenues	22,094,000	11,636,000	43,860,000	11,636,000
Operating Segments [Member] | Wood Products [Member] | China
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments [Member] | Wood Products [Member] | Other Countries [Member]
Segment Reporting Information [Line Items]
Revenues	17,557,000	5,655,000	33,054,000	5,655,000
Operating Segments [Member] | Wood Products [Member] | Lumber [Member]
Segment Reporting Information [Line Items]
Revenues	48,991,000	13,593,000	97,159,000	13,593,000
Operating Segments [Member] | Wood Products [Member] | Wood residuals [Member]
Segment Reporting Information [Line Items]
Revenues	2,654,000	1,053,000	5,373,000	1,053,000
Operating Segments [Member] | Wood Products [Member] | Pulp [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating Segments [Member] | Wood Products [Member] | Energy and chemicals [Member]
Segment Reporting Information [Line Items]
Revenues	3,255,000	2,645,000	6,036,000	2,645,000
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating income (loss)	(3,822,000)	(2,287,000)	(4,810,000)	(3,301,000)
Depreciation and amortization	108,000	104,000	218,000	209,000
Assets					$ 354,845,000
Corporate, Non-Segment [Member] | UNITED STATES
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Corporate, Non-Segment [Member] | Germany
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Corporate, Non-Segment [Member] | China
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Corporate, Non-Segment [Member] | Other Countries [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Corporate, Non-Segment [Member] | Lumber [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Corporate, Non-Segment [Member] | Wood residuals [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Corporate, Non-Segment [Member] | Pulp [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Corporate, Non-Segment [Member] | Energy and chemicals [Member]
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0	$ 0	$ 0

Business Segment Information (N

Business Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)mill	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)mill	Jun. 30, 2017USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number Of Pulp Mills | mill	3		3
Intersegment Eliminations [Member] | Market Pulp [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Intersegment Sales	$ 556	$ 0	$ 910	$ 0
Intersegment Eliminations [Member] | Wood Products [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Intersegment Sales	$ 5,096	$ 2,986	$ 10,045	$ 2,986

Derivative Transactions (Narrat

Derivative Transactions (Narrative) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash and cash equivalents, at carrying value	$ 269,482	$ 143,299
Accounts receivables, at carrying value	$ 190,807	$ 206,027

Financial Instruments and Fai49

Financial Instruments and Fair Value Measurement (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 709,627	$ 1,014,310
Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Fair Value, Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	709,627	1,014,310
Fair Value, Significant unobservable inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0	0
Revolving Credit Facility [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt fair value	60,502	25,185
Revolving Credit Facility [Member] | Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt fair value	0	0
Revolving Credit Facility [Member] | Fair Value, Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt fair value	60,502	25,185
Revolving Credit Facility [Member] | Fair Value, Significant unobservable inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt fair value	0	0
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt fair value	649,125	989,125
Senior Notes [Member] | Fair Value, Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt fair value	0	0
Senior Notes [Member] | Fair Value, Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt fair value	649,125	989,125
Senior Notes [Member] | Fair Value, Significant unobservable inputs (Level 3) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt fair value	$ 0	$ 0

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies Legal Settlement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Legal cost award	$ 0	$ 0	$ 6,951	$ 0