Clearwater Paper (CLW) 10-Q 3 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 03, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Entity File Number	001-34146
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	CLEARWATER PAPER CORPORATION
Entity Central Index Key	0001441236
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3594554
Entity Address, Address Line One	601 West Riverside,
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	Spokane,
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	99201
Current Fiscal Year End Date	--12-31
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	CLW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Document Transition Report	false
Entity Common Stock, Shares Outstanding		16,573,246
Local Phone Number	344-5900
City Area Code	509

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash	$ 47.5	$ 20
Restricted cash	0	1.4
Receivables, Net	179.5	159.4
Inventories	256.4	281.4
Other current assets	8.5	3.6
Total current assets	492	465.8
Property, plant and equipment, net	1,200.9	1,257.7
Operating lease right-of-use assets	66	73.1
Goodwill and intangible assets	49.6	52
Other assets, net	18.5	29.1
TOTAL ASSETS	1,826.9	1,877.7
Current liabilities:
Short-term debt	1.7	17.9
Trade payables	140.5	158.2
Accrued compensation	50.1	45
Other accrued liabilities	47.3	59.3
Total current liabilities	239.6	280.4
Long-term Debt, Excluding Current Maturities	785.5	884.5
Long-term operating lease liabilities	57.3	65.6
Liability for pension and other postretirement employee benefits	73.2	76.6
Other long-term obligations	22.6	17.3
Deferred tax liabilities	152.5	121.3
TOTAL LIABILITIES	$ 1,330.8	$ 1,445.7
Preferred stock, shares issued (in shares)	0	0
Stockholders' equity:
Preferred stock, par value $0.0001 per share, 5,000,000 authorized shares, no shares issued	$ 0	$ 0
Common stock, par value $0.0001 per share, 100,000,000 authorized shares, 16,571,798 and 16,515,813 shares issued	0	0
Additional paid-in capital	13.9	9.8
Retained earnings	536.3	481.7
Accumulated other comprehensive loss, net of tax	(54)	(59.5)
TOTAL STOCKHOLDERS' EQUITY	496.2	432
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,826.9	$ 1,877.7
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares issued (in shares)	16,571,798	16,515,813

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	16,571,798	16,515,813

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net Sales	$ 457.4	$ 445.2	$ 1,415.8	$ 1,326
Costs and expenses:
Cost of sales	(378.6)	(418.7)	(1,198.3)	(1,212.8)
Selling, general and administrative expenses	(29.3)	(27)	(89.4)	(83.9)
Other operating charges, net	0.3	1.9	11.9	2.1
Total operating costs and expenses	408.2	447.6	1,299.6	1,298.7
Income from operations	49.2	(2.4)	116.2	27.2
Interest Expense, Net	(12.2)	(13.1)	(37)	(32.5)
Other Nonoperating Income (Expense)	(1.9)	(1.4)	(5.7)	(4.3)
Gain (Loss) on Extinguishment of Debt	(3.9)	(2.7)	(4.8)	(2.7)
Nonoperating Income (Expense)	(17.9)	(17.2)	(47.5)	(39.5)
Income (loss) before income taxes	31.3	(19.7)	68.7	(12.2)
Income tax provision (benefit)	(9.9)	8.7	(14.1)	4.7
Net income (loss)	$ 21.4	$ (11)	$ 54.5	$ (7.6)
Net income (loss) per common share:
Basic (in dollars per share)	$ 1.29	$ (0.66)	$ 3.29	$ (0.46)
Diluted (in dollars per share)	$ 1.28	$ (0.66)	$ 3.27	$ (0.46)
Weighted Average Number of Shares Outstanding, Basic	16,595	16,539	16,581	16,531
Weighted Average Number of Shares Outstanding, Diluted	16,783	16,539	16,689	16,531

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 21.4	$ (11)	$ 54.5	$ (7.6)
Defined benefit pension and other postretirement employee benefits:
Amortization of actuarial loss included in net periodic cost, net of tax of $0.6, $0.4, $1.9, $1.4	1.8	1.3	5.5	3.9
Other comprehensive income (loss), net of tax	1.8	1.3	5.5	3.9
Comprehensive income	23.2	(9.7)	60	(3.7)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, Tax	$ 0.6	$ 0.4	$ 1.9	$ 1.4

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 21.4	$ (11)	$ 54.5	$ (7.6)
Depreciation and amortization	27.7	32	83.5	86.3
Stock-based compensation expense	2.5	0.9	7.3	3
Deferred taxes	12.8	(11.2)	23.5	(6)
Pension and other postretirement employment benefits	0.9	0.7	2.9	1
Debt retirement costs	3.9	2.7	4.8	2.7
Gain on divested assets	0	0	1.4	0
(Increase) decrease in accounts receivable	12.8	13.4	(5.7)	(12.5)
(Increase) decrease in inventory	(21)	4	25	(21.1)
(Increase) decrease in other current assets	0.6	0.6	(4.8)	(5.2)
Increase (decrease) in trade payables	4.1	(54.4)	(16.2)	(61.7)
Increase (decrease) in accrued compensation	(0.5)	0.1	5.1	(4)
Increase (decrease) in other accrued liabilities	(9.3)	(10.5)	(3.3)	5.8
Other, net	(0.1)	1.8	0.8	3
Net cash flows provided by (used in) operating activities	55.7	(31)	176.1	(16.2)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property, plant and equipment	(9.7)	(17.4)	(27.5)	(125.8)
Net cash flows used in investing activities	(9.7)	(17.4)	(27.5)	(125.8)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings of short-term debt	0	98	108.5	534.9
Repayments of short-term debt	0	(276)	(122)	(598.7)
Borrowings of long-term debt	275	296.1	275	296.1
Repayments of long-term debt	(317.6)	(101.7)	(379)	(101.7)
Payments for debt issuance costs	(4.3)	(1.8)	(4.3)	(1.8)
Other, net	0.2	(0.3)	(0.7)	(1.4)
Net cash flows provided by (used in) financing activities	(46.7)	14.3	(122.5)	127.4
Increase (decrease) in cash, cash equivalents and restricted cash	(0.6)	(34)	26.1	(14.7)
Cash, cash equivalents and restricted cash at beginning of period	49.2	44.3	22.4	24.9
Cash, cash equivalents and restricted cash at end of period	48.6	10.3	48.6	10.3
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest, net of amounts capitalized	19.5	22.4	43.6	38.8
Cash (received) paid for income taxes	(4.7)	0.3	(6.9)	2
Total cash, cash equivalents and restricted cash	$ 48.6	$ 10.3	$ 48.6	$ 10.3

Consolidated Statements of Stoc

Consolidated Statements of Stockholder's Equity Consolidated Statements of Stockholder's Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2018		16,482
Beginning balance at Dec. 31, 2018	$ 426.4	$ 0	$ 6.4	$ 487.3	$ (67.3)
Net income	3.8			3.8
Performance share, restricted stock unit, and stock option awards (in shares)		33
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1.2		1.2
Stock-based compensation expense	(0.4)		(0.4)
Pension and other postretirement employee benefit plans, net of tax	1.2				1.2
Beginning balance (in shares) at Mar. 31, 2019		16,515
Beginning balance at Mar. 31, 2019	432.2	$ 0	7.2	491.2	(66.1)
Pension and OPEB, Tax	0.5
Beginning balance (in shares) at Dec. 31, 2018		16,482
Beginning balance at Dec. 31, 2018	426.4	$ 0	6.4	487.3	(67.3)
Net income	(7.6)
Beginning balance (in shares) at Sep. 30, 2019		16,515
Beginning balance at Sep. 30, 2019	425.1	$ 0	8.9	479.8	(63.5)
Beginning balance (in shares) at Mar. 31, 2019		16,515
Beginning balance at Mar. 31, 2019	432.2	$ 0	7.2	491.2	(66.1)
Net income	(0.4)			(0.4)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1.2		1.2
Pension and other postretirement employee benefit plans, net of tax	1.3				1.3
Beginning balance (in shares) at Jun. 30, 2019		16,515
Beginning balance at Jun. 30, 2019	434.4	$ 0	8.4	490.8	(64.8)
Pension and OPEB, Tax	0.5
Net income	(11)			(11)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	0.5		0.5
Pension and other postretirement employee benefit plans, net of tax	1.3				1.3
Beginning balance (in shares) at Sep. 30, 2019		16,515
Beginning balance at Sep. 30, 2019	425.1	$ 0	8.9	479.8	(63.5)
Pension and OPEB, Tax	0.5
Beginning balance (in shares) at Dec. 31, 2019		16,515
Beginning balance at Dec. 31, 2019	432	$ 0	9.8	481.7	(59.5)
Net income	10.3			10.3
Performance share, restricted stock unit, and stock option awards (in shares)		54
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1.3		1.3
Stock-based compensation expense	(0.7)		(0.7)
Pension and other postretirement employee benefit plans, net of tax	1.8				1.8
Beginning balance (in shares) at Mar. 31, 2020		16,569
Beginning balance at Mar. 31, 2020	444.8	$ 0	10.4	492.1	(57.7)
Pension and OPEB, Tax	0.6
Beginning balance (in shares) at Dec. 31, 2019		16,515
Beginning balance at Dec. 31, 2019	432	$ 0	9.8	481.7	(59.5)
Net income	54.5
Beginning balance (in shares) at Sep. 30, 2020		16,571
Beginning balance at Sep. 30, 2020	496.2	$ 0	13.9	536.3	(54)
Beginning balance (in shares) at Mar. 31, 2020		16,569
Beginning balance at Mar. 31, 2020	444.8	$ 0	10.4	492.1	(57.7)
Net income	22.8			22.8
Performance share, restricted stock unit, and stock option awards (in shares)		2
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	1.4		1.4
Stock-based compensation expense	0		0
Pension and other postretirement employee benefit plans, net of tax	1.8				1.8
Beginning balance (in shares) at Jun. 30, 2020		16,571
Beginning balance at Jun. 30, 2020	470.8	$ 0	11.8	514.8	(55.8)
Pension and OPEB, Tax	0.6
Net income	21.4			21.4
Performance share, restricted stock unit, and stock option awards (in shares)		1
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	2.2		2.2
Stock-based compensation expense	0		0
Pension and other postretirement employee benefit plans, net of tax	1.8				1.8
Beginning balance (in shares) at Sep. 30, 2020		16,571
Beginning balance at Sep. 30, 2020	496.2	$ 0	$ 13.9	$ 536.3	$ (54)
Pension and OPEB, Tax	$ 0.6

Consolidated Statements of St_2

Consolidated Statements of Stockholder's Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Pension and OPEB, Tax	$ 0.6	$ 0.6	$ 0.6	$ 0.5	$ 0.5	$ 0.5

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	1 BASIS OF PRESENTATIONThe accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, in the opinion of management, include all adjustments (consisting of normal recurring adjustments) necessary to present fairly, in all material respects, the consolidated financial position, results of operations, stockholders' equity and cash flows for us and our subsidiaries for the interim periods presented. Results of operations for interim periods are not necessarily indicative of results to be expected for an entire year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019. All dollar amounts are shown in millions, except per share.

Recently Adopted and New Accoun

Recently Adopted and New Accounting Standards New Accounting Pronouncements (Notes)	9 Months Ended
	Sep. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	RECENTLY ADOPTED AND NEW ACCOUNTING STANDARDS Recently Adopted Accounting Standards In March 2020, the SEC issued a final rule that amended the disclosure requirements under SEC Regulation S-X Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered . The final rule is based on the premise that the primary source of information that investors in guaranteed debt rely on is the consolidated financial statements of the parent company. The final rule replaces the previous requirement to provide separate condensed consolidating financial information of the guarantors. The final rule is effective for filings on or after January 4, 2021, and early adoption is permitted. We have elected to early adopt this rule which resulted in the removal of the supplemental guarantor financial information. New Accounting Standards In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU provides practical expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. This ASU is applicable to our contracts that reference LIBOR. The amendments may be applied through December 31, 2022. We will apply this guidance to transactions and modifications of these arrangements going forward. We reviewed all other new accounting pronouncements issued in the period and concluded that they are not applicable or not material to our business.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Carrying amounts reported on the balance sheet for cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair value due to the short-term maturity of these instruments. The fair value of our debt is included in the following table: September 30, 2020 December 31, 2019 Term loan maturing 2026, variable interest rate $ 197.8 $ 300.0 2013 Notes, maturing 2023, fixed interest rate $ — $ 275.4 2014 Notes, maturing 2025, fixed interest rate $ 312.8 $ 298.7 2020 Notes, maturing 2028, fixed interest rate $ 275.7 $ —

Receivables, net (Notes)

Receivables, net (Notes)	9 Months Ended
	Sep. 30, 2020
Receivables, Net, Current [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	RECEIVABLES Receivables consist of: September 30, 2020 December 31, 2019 Trade accounts receivable $ 162.2 $ 157.0 Allowance for current expected credit losses (1.7) (1.5) Taxes receivable 17.7 0.3 Interest receivable — 1.0 Other 1.3 2.6 $ 179.5 $ 159.4

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consist of: September 30, 2020 December 31, 2019 Logs, pulpwood, chips and sawdust $ 17.2 $ 19.4 Materials and supplies 94.9 93.1 Pulp, paperboard and tissue products 144.2 168.9 $ 256.4 $ 281.4

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	LEASES We have operating leases for manufacturing, office, warehouse and distribution space, paperboard sheeting and chipping facilities, equipment and vehicles. We also have finance leases related to our North Carolina converting and manufacturing facilities, as well as for certain office and other equipment. Our leases have remaining lease terms from less than one The tables below present financial information associated with our leases. Lease expense Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease costs $ 4.0 $ 4.1 $ 11.8 $ 11.1 Finance lease costs: Amortization of right-of-use assets 0.4 0.4 1.3 1.3 Interest on lease liabilities 0.4 0.5 1.3 1.4 Total finance lease costs 0.9 0.9 2.7 2.7 Variable lease costs 0.4 0.3 1.2 0.8 Total lease costs $ 5.3 $ 5.2 $ 15.6 $ 14.6 Supplemental cash flow information Nine Months Ended September 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 13.3 $ 12.6 Operating cash flows from finance leases 1.3 1.4 Financing cash flows from finance leases 1.2 1.0 Non-cash amounts for lease liabilities arising from obtaining right-of-use assets: Operating leases $ 3.3 $ 1.0 Finance leases 0.3 0.5 Supplemental balance sheet information Classification September 30, 2020 December 31, 2019 Lease ROU Assets Operating lease assets Operating lease right-of-use assets $ 66.0 $ 73.1 Finance lease assets Property, plant and equipment, net 26.7 26.5 Accumulated depreciation (12.3) (11.1) Total lease ROU assets $ 80.4 $ 88.5 Lease Liabilities Current operating lease liabilities Other accrued liabilities $ 14.9 $ 13.9 Current finance lease liabilities Short-term debt 1.7 1.4 Total current lease liabilities 16.5 15.3 Non-current operating lease liabilities Long-term operating lease liabilities 57.3 65.6 Non-current finance lease liabilities Long-term debt 19.5 20.6 Total non-current lease liabilities 76.8 86.2 Total operating lease liabilities 72.2 79.5 Total finance lease liabilities 21.2 22.0 Total lease liabilities $ 93.4 $ 101.5

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt Disclosure	DEBT Long-term debt consists of: September 30, 2020 December 31, 2019 Interest Rate at Principal Unamortized Debt Costs Total Principal Unamortized Debt Costs Total Term loan maturing 2026, 3.19% $ 199.3 $ (3.0) $ 196.2 $ 300.0 $ (5.1) $ 294.9 2013 Notes, maturing 2023, 4.50% — — — 275.0 (1.5) 273.5 2014 Notes, maturing 2025, 5.37% 300.0 (1.2) 298.8 300.0 (1.5) 298.5 2020 Notes, maturing 2028, 4.75% 275.0 (3.9) 271.1 — — — ABL Credit Agreement, 3.50% — — — 13.5 — 13.5 Finance leases 21.2 — 21.2 22.0 — 22.0 Total debt 795.4 (8.2) 787.2 910.5 (8.1) 902.4 Less: current portion (1.7) — (1.7) (17.9) — (17.9) Net long-term portion $ 793.7 $ (8.2) $ 785.5 $ 892.6 $ (8.1) $ 884.5 At September 30, 2020, we were in compliance with covenants in our various credit agreements. The maturity of our Term Loan Agreement is subject to the refinancing of our 2014 Notes. If the 2014 Notes are not refinanced 91 days before their maturity, the Term Loan Credit Agreement will become due. During the third quarter of 2020, in connection with the issuance of the 2020 Notes, we redeemed the 2013 Notes in full. This redemption resulted in a loss on early debt extinguishment of $3.2 million consisting of $1.2 million related to the write off unamortized debt cost along with the premium on debt redemption of $2.1 million. Term Loan Credit Agreement The Term Loan Credit Agreement matures on July 26, 2026. We are required to repay the aggregate outstanding principal amount in quarterly installments in an aggregate amount for each such date equal to the aggregate principal amount of the initial loan amount (as such amount may be adjusted pursuant to the prepayment provisions of the Term Loan Credit Agreement) multiplied by 0.25%. Through the third quarter of 2020, we have made voluntary prepayments of $100 million. These prepayments were applied against our quarterly required installments through 2026. In connection with the voluntary repayments, we recorded $1.6 million in early debt extinguishment related to the write off of associated deferred debt fees. In addition, we must make mandatory prepayments of principal under the Term Loan Credit Agreement upon the occurrence of certain specified events, including certain asset sales (subject to customary reinvestment rights), debt issuances not permitted under the Term Loan Credit Agreement, and based on a percentage, which may vary from 0% to 50% depending on our secured leverage ratio, of annual Excess Cash Flows in excess of certain threshold amounts, less any voluntary prepayments under the Term Loan Credit Agreement. Any remaining outstanding principal balance under the Term Loan Credit Agreement is repayable on the maturity date. Amounts repaid or prepaid by us with respect to the loans under the Term Loan Credit Agreement cannot be reborrowed. We may, at our option, prepay any borrowings under the Term Loan Credit Agreement, in whole or in part, at any time and from time to time without premium or penalty (except in certain circumstances). We may add one or more incremental term loan facilities to the Term Loan Credit Agreement, subject to obtaining commitments from any participating lenders and certain other conditions, in an amount not to exceed (1) $100 million, plus (2) the amount of all voluntary prepayments of the Term Loan Credit Agreement (other than prepayments funded with long-term indebtedness), plus (3) an additional amount, so long as after giving effect to the incurrence of such additional amount, our pro forma first lien secured leverage ratio would not exceed 2.00x to 1.00x. At September 30, 2020 our pro forma first lien secured ratio was 0.65x. Under the Term Loan Credit Agreement, loans generally may bear interest based on LIBOR or an annual base rate, as applicable, plus, in each case, an applicable margin. When our leverage ratio is (i) less than or equal to 4.25 to 1.00, the margin is 3.00% per annum in the case of LIBOR loans and of 2.00% per annum in the case of annual base rate loans and (ii) greater than 4.25 to 1.00, the margin is 3.25% per annum in the case of LIBOR loans and of 2.25% per annum in the case of annual base rate loans. At September 30, 2020, our leverage ratio was 2.80x and therefore our applicable margin on LIBOR loans was 3.00%. ABL Credit Agreement The ABL Credit Agreement matures on July 26, 2024 and includes a $250 million revolving loan commitment, subject to borrowing base limitations based on a percentage of applicable eligible receivables and eligible inventory. Based upon our Consolidated Balance Sheet as of September 30, 2020, our borrowings supported up to $234.2 million availability under the line of which no borrowings were outstanding and $4.4 million was utilized to issue letters of credit. We may, at our option, prepay any borrowings under the ABL Credit Agreement, in whole or in part, at any time and from time to time without premium or penalty (except in certain circumstances). Borrowings under the ABL Credit Agreement are also subject to mandatory prepayment in certain circumstances, including in the event that borrowings exceed applicable borrowing base limits. We may also increase commitments under the ABL Credit Agreement in an aggregate principal amount of up to $100 million, subject to obtaining commitments from any participating lenders and certain other conditions. The ABL Credit Agreement also contains a financial covenant, which requires us to maintain a consolidated fixed charge coverage ratio of not less than 1.10 to 1.00, provided that the financial covenant under the ABL Credit Agreement is only applicable when unused availability falls below $25 million. As of September 30, 2020, our fixed charge coverage ratio was approximately 4.31x which included the impact of our voluntary debt prepayments. Our ability to utilize our ABL Credit Agreement could be limited in the future by our bond indentures which have limitations on liens. 2020 Notes In 2020, we issued $275 million aggregate principal amount of senior notes (2020 Notes) due August 2028 with an interest rate of 4.75%. The Notes are unsecured and effectively subordinated to all of the Company’s existing and future secured debt, including borrowings under its existing credit facilities. The Notes are guaranteed on an unsecured basis by each of the Company’s existing direct and indirect domestic subsidiaries, and will be guaranteed by each of the Company’s future direct and indirect domestic subsidiaries, subject to certain exceptions. If the Company is unable to make payments on the Notes when they are due, each Guarantor is obligated to make such payments. The Indenture contains covenants that, among other things, limit our ability and the ability of any of our subsidiaries to (i) enter into sale leaseback transactions, (ii) incur liens and (iii) consolidate, merge or sell all or substantially all of our assets. In addition, the Indenture requires, among other things, we provide certain reports to holders of the Notes. These covenants are subject to a number of exceptions, limitations and qualifications as set forth in the Indenture. We may redeem all or a portion of the 2020 notes at specified redemption prices plus accrued and unpaid interest. In addition, we may be required to make an offer to purchase the 2020 Notes upon the sale of certain assets and upon a change in control.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Taxes	INCOME TAXES For interim periods, accounting standards require that income tax expense be determined by applying the estimated annual effective income tax rate to year-to-date results, unless this method does not result in a reliable estimate of year-to-date income tax expense. Each period, the income tax accrual is adjusted to the latest estimate and the difference from the previously accrued year-to-date balance is adjusted to the current quarter. For the nine months ended September 30, 2020, our income tax expense reflects an effective rate of 21% as compared to an effective rate of 38% in the comparable period of 2019. For the first nine months of 2020, the effective rate of 21% approximated the U.S. statutory tax rate. In this period, we recognized a $7.0 million benefit from the provisions of the Coronavirus Aid, Relief, and Economic Security Act. For the nine months ended September 30, 2019, the primary differences between the U.S. federal statutory rate of 21% and the effective rate of 38% relates to the effect of tax credits and state tax rate changes.

Other Operating Charges, net (N

Other Operating Charges, net (Notes)	3 Months Ended
	Mar. 31, 2020
Other Income and Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	During the first quarter of 2020, we recorded $8.5 million of expenses in "Other operating charges, net." The components of the expenses include: • expenses of $2.8 million related to reorganization expenses (primarily related to corporate expenses), • expenses of $6.6 million associated with union settlement retroactive wage payments ($2.6 million associated with Consumer Products and $4.0 million associated with Paperboard segments), • gain of $1.4 million associated with the Ladysmith Consumer Products facility sale escrow release, and • expense of $0.2 million relating to directors' equity based compensation.

Non-operating Income (Expense)

Non-operating Income (Expense) (Notes)	9 Months Ended
	Sep. 30, 2020
Nonoperating Income (Expense) [Abstract]
Other Nonoperating Income and Expense [Text Block]	NON-OPERATING INCOME (EXPENSE) The components of “Non-operating expense” in the Consolidated Statements of Operations for the three and nine months ended September 30, 2020 and 2019 are reflected in the table below: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest expense $ (11.7) $ (12.8) $ (35.4) $ (37.4) Capitalized interest — 0.3 — 5.7 Amortization of debt issuance costs (0.5) (0.5) (1.7) (1.5) Interest income — — — 0.7 Interest expense, net (12.2) (13.1) (37.0) (32.5) Debt retirement costs (3.9) (2.7) (4.8) (2.7) Non-operating pension and other postretirement employee benefits expense (1.9) (1.4) (5.7) (4.3) Total non-operating expense $ (17.9) $ (17.2) $ (47.5) $ (39.5)

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss (Notes)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss, net of tax, is comprised of the following: Pension Plan Adjustments Other Post Retirement Employee Benefit Plan Adjustments Total Balance at December 31, 2018 $ (83.0) $ 15.7 $ (67.3) Amounts reclassified from accumulated other comprehensive loss 4.1 (0.2) 3.9 Other comprehensive income, net of tax 4.1 (0.2) 3.9 Balance at September 30, 2019 $ (79.0) $ 15.5 $ (63.5) Balance at December 31, 2019 $ (67.8) $ 8.3 $ (59.5) Amounts reclassified from accumulated other comprehensive loss 5.5 — 5.5 Other comprehensive income, net of tax 5.5 — 5.5 Balance at September 30, 2020 $ (62.4) $ 8.3 $ (54.0)

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Equity-Based Compensation	STOCKHOLDERS' EQUITY Common Stock Plans We have stock-based compensation plans under which restricted stock awards and stock options are granted according to time or performance vesting requirements. At September 30, 2020, approximately 1.3 million shares were available for future issuance under our current plan. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Total stock-based compensation expense $ 2.5 $ 0.9 $ 7.3 $ 3.0 Income tax benefit related to stock-based compensation $ 0.6 $ 0.2 $ 1.9 $ 0.8 Impact on cash flow due to taxes paid related to net share settlement of equity awards $ — $ — $ 0.7 $ 0.4 At September 30, 2020, $12.7 million of compensation cost related to unvested restricted stock units, performance awards and stock options attributable to future service had not yet been recognized. During the first nine months ended September 30, 2020, we granted 377,822 restricted stock units (time vesting) at an average grant date fair value of $23.46 per share and 120,382 restricted stock units (performance vesting) at an average grant date fair value of $27.67.

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings per Common Share	EARNINGS PER SHARE Basic income (loss) per share is based on the weighted-average number of shares of common stock outstanding. Diluted income (loss) per share is based upon the weighted-average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2020 2019 2020 2019 Basic weighted-average common shares outstanding 1 16,595 16,539 16,581 16,531 Incremental shares due to: Stock-based awards 188 — 107 — Diluted weighted-average common shares outstanding 16,783 16,539 16,689 16,531 1 Basic weighted-average common shares outstanding includes restricted stock unit awards that are fully vested, but are deferred for future issuance. Anti-dilutive shares excluded from the calculation were 0.4 million and 1.1 million for the three months ended September 30, 2020 and 2019 and 0.6 million and 1.0 million for the nine months ended September 30, 2020 and 2019.

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION We operate in two segments: Consumer Products and Paperboard. Our business units have been aggregated into these two segments based upon the similarity of economic characteristics, customers and distribution methods. Our results of operations are summarized below for each of these segments separately. Segment information was prepared in accordance with the same accounting principles as those described in Note 1 of the Notes to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Segment net sales: Consumer Products $ 248.3 $ 228.5 $ 789.1 $ 676.2 Paperboard 209.1 216.6 626.6 649.7 Total segment net sales $ 457.4 $ 445.2 $ 1,415.8 $ 1,326.0 Operating income (loss): Consumer Products $ 31.3 $ (4.4) $ 82.1 $ (8.3) Paperboard 32.8 17.1 91.6 80.1 Corporate (14.6) (13.2) (45.6) (42.5) Other operating charges, net (0.3) (1.9) (11.9) (2.1) Income (loss) from operations $ 49.2 $ (2.4) $ 116.2 $ 27.2 Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Major products: Paperboard $ 208.0 $ 215.4 $ 623.1 $ 644.6 Retail tissue 238.6 215.3 747.1 630.4 Non-retail tissue 6.9 12.4 31.0 43.2 Other 3.9 2.1 14.6 7.9 Total net sales $ 457.4 $ 445.2 $ 1,415.8 $ 1,326.0

Receivables, net (Tables)

Receivables, net (Tables)	9 Months Ended
	Sep. 30, 2020
Receivables, Net, Current [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, 2020 December 31, 2019 Trade accounts receivable $ 162.2 $ 157.0 Allowance for current expected credit losses (1.7) (1.5) Taxes receivable 17.7 0.3 Interest receivable — 1.0 Other 1.3 2.6 $ 179.5 $ 159.4

Inventories - (Tables)

Inventories - (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories consist of: September 30, 2020 December 31, 2019 Logs, pulpwood, chips and sawdust $ 17.2 $ 19.4 Materials and supplies 94.9 93.1 Pulp, paperboard and tissue products 144.2 168.9 $ 256.4 $ 281.4

Leases - (Tables)

Leases - (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Lease, Cost [Table Text Block]	Lease expense Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease costs $ 4.0 $ 4.1 $ 11.8 $ 11.1 Finance lease costs: Amortization of right-of-use assets 0.4 0.4 1.3 1.3 Interest on lease liabilities 0.4 0.5 1.3 1.4 Total finance lease costs 0.9 0.9 2.7 2.7 Variable lease costs 0.4 0.3 1.2 0.8 Total lease costs $ 5.3 $ 5.2 $ 15.6 $ 14.6
Lease, Supplemental cash flow information	Supplemental cash flow information Nine Months Ended September 30, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 13.3 $ 12.6 Operating cash flows from finance leases 1.3 1.4 Financing cash flows from finance leases 1.2 1.0 Non-cash amounts for lease liabilities arising from obtaining right-of-use assets: Operating leases $ 3.3 $ 1.0 Finance leases 0.3 0.5
Supplemental Balance Sheet Disclosures [Text Block]	Supplemental balance sheet information Classification September 30, 2020 December 31, 2019 Lease ROU Assets Operating lease assets Operating lease right-of-use assets $ 66.0 $ 73.1 Finance lease assets Property, plant and equipment, net 26.7 26.5 Accumulated depreciation (12.3) (11.1) Total lease ROU assets $ 80.4 $ 88.5 Lease Liabilities Current operating lease liabilities Other accrued liabilities $ 14.9 $ 13.9 Current finance lease liabilities Short-term debt 1.7 1.4 Total current lease liabilities 16.5 15.3 Non-current operating lease liabilities Long-term operating lease liabilities 57.3 65.6 Non-current finance lease liabilities Long-term debt 19.5 20.6 Total non-current lease liabilities 76.8 86.2 Total operating lease liabilities 72.2 79.5 Total finance lease liabilities 21.2 22.0 Total lease liabilities $ 93.4 $ 101.5

Debt Debt Disclosures (Tables)

Debt Debt Disclosures (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Instrument [Line Items]
Schedule of Debt [Table Text Block]	September 30, 2020 December 31, 2019 Interest Rate at Principal Unamortized Debt Costs Total Principal Unamortized Debt Costs Total Term loan maturing 2026, 3.19% $ 199.3 $ (3.0) $ 196.2 $ 300.0 $ (5.1) $ 294.9 2013 Notes, maturing 2023, 4.50% — — — 275.0 (1.5) 273.5 2014 Notes, maturing 2025, 5.37% 300.0 (1.2) 298.8 300.0 (1.5) 298.5 2020 Notes, maturing 2028, 4.75% 275.0 (3.9) 271.1 — — — ABL Credit Agreement, 3.50% — — — 13.5 — 13.5 Finance leases 21.2 — 21.2 22.0 — 22.0 Total debt 795.4 (8.2) 787.2 910.5 (8.1) 902.4 Less: current portion (1.7) — (1.7) (17.9) — (17.9) Net long-term portion $ 793.7 $ (8.2) $ 785.5 $ 892.6 $ (8.1) $ 884.5

Other Operating Charges, net (T

Other Operating Charges, net (Tables)	9 Months Ended
	Sep. 30, 2020
Other Income and Expenses [Abstract]
Schedule of Other Operating Cost and Expense, by Component [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Reorganization expenses $ — $ 0.9 $ 3.4 $ 1.0 Union settlement — — 6.6 — Gain on divested assets — — (1.4) — Directors' equity-based compensation expense (benefit) 0.3 0.4 2.5 0.1 Other — 0.6 0.8 1.0 $ 0.3 $ 1.9 $ 11.9 $ 2.1

Non-operating Income (Expense_2

Non-operating Income (Expense) (Tables)	9 Months Ended
	Sep. 30, 2020
Nonoperating Income (Expense) [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest expense $ (11.7) $ (12.8) $ (35.4) $ (37.4) Capitalized interest — 0.3 — 5.7 Amortization of debt issuance costs (0.5) (0.5) (1.7) (1.5) Interest income — — — 0.7 Interest expense, net (12.2) (13.1) (37.0) (32.5) Debt retirement costs (3.9) (2.7) (4.8) (2.7) Non-operating pension and other postretirement employee benefits expense (1.9) (1.4) (5.7) (4.3) Total non-operating expense $ (17.9) $ (17.2) $ (47.5) $ (39.5)

Pension and Other Postretiremen

Pension and Other Postretirement Employee Benefit Plans - (Tables)	9 Months Ended
	Sep. 30, 2020
Retirement Benefits [Abstract]
Components of Net Periodic Cost of Pension and Other Postretirement Employee Benefit Plans	The following table details the components of net periodic cost of our company-sponsored pension and other postretirement employee benefit plans for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, Pension Benefit Plans 2020 2019 2020 2019 Service cost $ 0.5 $ 0.6 $ 1.7 $ 1.8 Interest cost 2.6 3.1 7.8 9.3 Expected return on plan assets (3.8) (4.1) (11.3) (12.4) Amortization of actuarial loss 2.4 1.8 7.4 5.5 Net periodic cost $ 1.7 $ 1.4 $ 5.6 $ 4.3 Three Months Ended September 30, Nine Months Ended September 30, Other Postretirement Employee Benefit Plans 2020 2019 2020 2019 Service cost $ — $ — $ 0.1 $ 0.1 Interest cost $ 0.6 $ 0.7 $ 1.8 $ 2.1 Amortization of actuarial loss (gain) — (0.1) — (0.3) Net periodic cost $ 0.7 $ 0.6 $ 1.8 $ 1.9
Defined Contribution Plan Disclosures	We record the service component of net periodic cost (benefit) as part of "Cost of sales" and "Selling, general, and administrative expenses," while the non-service components of net periodic cost (benefit) are recorded to "Other non-operating expense" on our Consolidated Statements of Operations. For the three and nine months ended September 30, 2020, we recorded $0.3 million and $1.1 million to "Cost of sales" and $0.2 million and $0.7 million to "Selling, general, and administrative expenses". For the three and nine months ended September 30, 2019, we recorded $0.4 million and $1.1 million to "Cost of sales" and $0.3 million and $0.8 million to "Selling, general, and administrative expenses".

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Accumulated other comprehensive loss, net of tax, is comprised of the following: Pension Plan Adjustments Other Post Retirement Employee Benefit Plan Adjustments Total Balance at December 31, 2018 $ (83.0) $ 15.7 $ (67.3) Amounts reclassified from accumulated other comprehensive loss 4.1 (0.2) 3.9 Other comprehensive income, net of tax 4.1 (0.2) 3.9 Balance at September 30, 2019 $ (79.0) $ 15.5 $ (63.5) Balance at December 31, 2019 $ (67.8) $ 8.3 $ (59.5) Amounts reclassified from accumulated other comprehensive loss 5.5 — 5.5 Other comprehensive income, net of tax 5.5 — 5.5 Balance at September 30, 2020 $ (62.4) $ 8.3 $ (54.0)

Stockholders' Equity - (Tables)

Stockholders' Equity - (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Employee Equity-Based Compensation Expense	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Total stock-based compensation expense $ 2.5 $ 0.9 $ 7.3 $ 3.0 Income tax benefit related to stock-based compensation $ 0.6 $ 0.2 $ 1.9 $ 0.8 Impact on cash flow due to taxes paid related to net share settlement of equity awards $ — $ — $ 0.7 $ 0.4

Earnings per Common Share - (Ta

Earnings per Common Share - (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Reconciliation of Number of Common Shares Used in Calculating Basic and Diluted Net Earnings per Share	Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2020 2019 2020 2019 Basic weighted-average common shares outstanding 1 16,595 16,539 16,581 16,531 Incremental shares due to: Stock-based awards 188 — 107 — Diluted weighted-average common shares outstanding 16,783 16,539 16,689 16,531 1 Basic weighted-average common shares outstanding includes restricted stock unit awards that are fully vested, but are deferred for future issuance.

Segment Information - (Tables)

Segment Information - (Tables)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Segment Reporting Information [Line Items]
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Major products: Paperboard $ 208.0 $ 215.4 $ 623.1 $ 644.6 Retail tissue 238.6 215.3 747.1 630.4 Non-retail tissue 6.9 12.4 31.0 43.2 Other 3.9 2.1 14.6 7.9 Total net sales $ 457.4 $ 445.2 $ 1,415.8 $ 1,326.0
Reportable Segments Information		Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Segment net sales: Consumer Products $ 248.3 $ 228.5 $ 789.1 $ 676.2 Paperboard 209.1 216.6 626.6 649.7 Total segment net sales $ 457.4 $ 445.2 $ 1,415.8 $ 1,326.0 Operating income (loss): Consumer Products $ 31.3 $ (4.4) $ 82.1 $ (8.3) Paperboard 32.8 17.1 91.6 80.1 Corporate (14.6) (13.2) (45.6) (42.5) Other operating charges, net (0.3) (1.9) (11.9) (2.1) Income (loss) from operations $ 49.2 $ (2.4) $ 116.2 $ 27.2

Fair Value Measurements (Detail

Fair Value Measurements (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Term Loan [Member]
Long-term Line of Credit	$ 197.8	$ 300
Senior Note Due 2023 [Member]
Long-term Debt, Fair Value	0	275.4
Senior Note Due 2025 [Member]
Long-term Debt, Fair Value	312.8	298.7
Senior Note Due 2028 [Member]
Long-term Debt, Fair Value	$ 275.7	$ 0

Receivables, net (Details)

Receivables, net (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Receivables, Net, Current [Abstract]
Accounts Receivable, before Allowance for Credit Loss, Current	$ 162.2	$ 157
Accounts Receivable, Allowance for Credit Loss, Current	(1.7)	(1.5)
Income Taxes Receivable, Current	17.7	0.3
Interest Receivable, Current	0	1
Other Receivables, Net, Current	1.3	2.6
Receivables, Net	$ 179.5	$ 159.4

Inventories - Inventories (Deta

Inventories - Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory [Line Items]
Logs, pulpwood, chips and sawdust	$ 17.2	$ 19.4
Materials and supplies	94.9	93.1
Pulp, paperboard and tissue products	144.2	168.9
Inventories	$ 256.4	$ 281.4

Leases - Narrative (Detail)

Leases - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Operating lease costs	$ 4			$ 4.1			$ 11.8	$ 11.1
Amortization of right-of-use assets	0.4			0.4			1.3	1.3
Interest on lease liabilities	0.4			0.5			1.3	1.4
Variable lease costs	0.4			0.3			1.2	0.8
Total lease costs	5.3			5.2			15.6	14.6
Operating cash flows from operating leases							13.3	12.6
Operating cash flows from finance leases							1.3	1.4
Financing cash flows from finance leases							1.2	1
Non-cash amounts for lease liabilities arising from obtaining right-of-use assets, operating leases							3.3	1
Non-cash amounts for lease liabilities arising from obtaining right-of-use assets, finance leases							0.3	0.5
Operating lease right-of-use assets	66						66		$ 73.1
Finance lease assets	26.7						26.7		26.5
Total lease ROU assets	1,826.9						1,826.9		1,877.7
Current operating lease liabilities	14.9						14.9		13.9
Current finance lease liabilities	1.7						1.7		1.4
Liabilities, Current	239.6						239.6		280.4
Non-current operating lease liabilities	57.3						57.3		65.6
Non-current finance lease liabilities	19.5						19.5		20.6
Total lease liabilities	72.2						72.2		79.5
Finance Lease, Liability	21.2						21.2		22
TOTAL LIABILITIES	1,330.8						1,330.8		1,445.7
Net income	21.4	$ 22.8	$ 10.3	(11)	$ (0.4)	$ 3.8	54.5	(7.6)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	(1.8)			(1.3)			(5.5)	(3.9)
Other Comprehensive Income (Loss), Net of Tax	1.8			1.3			5.5	3.9
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	23.2			(9.7)			60	(3.7)
Lease assets [Member]
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation	(12.3)						(12.3)		(11.1)
Total lease ROU assets	80.4						80.4		88.5
Lease liabilities, current [Member]
Liabilities, Current	16.5						16.5		15.3
Lease liabilities, noncurrent [Member]
Liabilities, Noncurrent	76.8						76.8		86.2
Lease liabilities [Member]
TOTAL LIABILITIES	93.4						93.4		$ 101.5
Finance lease costs [Member]
Total lease costs	$ 0.9			$ 0.9			$ 2.7	$ 2.7
Minimum
Remaining lease term							1 year
Maximum
Remaining lease term							11 years

Debt (Detail)

Debt (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Debt Instrument, Repayment Terms, Percentage Of Principal	0.25%		0.25%
Interest Rate at September 30, 2020	3.50%		3.50%
Finance Lease, Liability	$ 21.2		$ 21.2		$ 22
Long-term Debt, Gross	795.4		795.4		910.5
Unamortized Debt Issuance Expense	(8.2)		(8.2)		(8.1)
Potential additional lines of credit	$ 100		$ 100
Lien leverage ratio, maximum	4.25		4.25
Lien leverage ratio	2.80		2.80
Line of Credit Facility, Remaining Borrowing Capacity	$ 234.2		$ 234.2
Long-term Debt and Lease Obligation, Including Current Maturities	787.2		787.2		902.4
Long-term Debt and Lease Obligation, Current	(1.7)		(1.7)		(17.9)
Long-term Debt and Lease Obligation	793.7		793.7		892.6
Long-term Debt, Excluding Current Maturities	$ 785.5		$ 785.5		884.5
Fixed Charge Coverage Ratio	1.10		1.10
Senior Note Due 2023 [Member]
Debt Instrument [Line Items]
Debt Extinguishment costs, Premium on Bonds [Abstract]			$ 2.1
Write off of Deferred Debt Issuance Cost			$ 1.2
Minimum
Debt Instrument [Line Items]
Debt Instrument, Repayment Terms, Asset Sales, Percentage Of Principal	0.00%		0.00%
Maximum
Debt Instrument [Line Items]
Debt Instrument, Repayment Terms, Asset Sales, Percentage Of Principal	50.00%		50.00%
LIBOR
Debt Instrument [Line Items]
Debt, weighted average interest rate	3.00%		3.00%
LIBOR | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.00%
LIBOR | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.25%
Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.00%
Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.25%
Net of Letters of Credit [Member]
Debt Instrument [Line Items]
Line of Credit, Current	$ 0		$ 0		13.5
Senior Note Due 2023 [Member]
Debt Instrument [Line Items]
Interest Rate at September 30, 2020	4.50%		4.50%
Long-term Debt, Gross	$ 0		$ 0		275
Long-term Debt	0		0		273.5
Unamortized Debt Issuance Expense	$ 0		$ 0		(1.5)
Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate at September 30, 2020	3.19%		3.19%
Long-term Debt, Gross	$ 199.3		$ 199.3		300
Long-term Debt	196.2		196.2		294.9
Unamortized Debt Issuance Expense	(3)		(3)		(5.1)
Write off of Deferred Debt Issuance Cost	$ 3.9	$ 2.7	$ 4.8	$ 2.7
Senior Note Due 2025 [Member]
Debt Instrument [Line Items]
Interest Rate at September 30, 2020	5.37%		5.37%
Long-term Debt, Gross	$ 300		$ 300		300
Long-term Debt	298.8		298.8		298.5
Unamortized Debt Issuance Expense	$ (1.2)		$ (1.2)		$ (1.5)
Senior Note Due 2028 [Member]
Debt Instrument [Line Items]
Interest Rate at September 30, 2020	4.75%		4.75%
Long-term Debt, Gross	$ 275		$ 275
Long-term Debt	271.1		271.1
Unamortized Debt Issuance Expense	(3.9)		(3.9)
Line of Credit [Member]
Debt Instrument [Line Items]
Outstanding stand by letters of credit	$ 4.4		$ 4.4
Pro Forma [Member]
Debt Instrument [Line Items]
Lien leverage ratio, maximum	2		2
Lien leverage ratio	0.65		0.65

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt	$ (3.9)	$ (2.7)	$ (4.8)	$ (2.7)
Senior Note Due 2023 [Member]
Debt Instrument [Line Items]
Debt Extinguishment costs, Premium on Bonds [Abstract]			2.1
Gain (Loss) on Extinguishment of Debt			3.2
Write off of Deferred Debt Issuance Cost			1.2
Term Loan [Member]
Debt Instrument [Line Items]
Write off of Deferred Debt Issuance Cost			$ 1.6

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Expense (Benefit)	$ 9.9	$ (8.7)	$ 14.1	$ (4.7)
Effective Income Tax Rate Reconciliation, Percent			21.00%	38.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				21.00%
Other Tax Expense (Benefit)			$ 7

Other Operating Charges, net (D

Other Operating Charges, net (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Gain on divested assets	$ 0		$ (1.4)	$ 0			$ (1.4)	$ 0
Other operating charges, net	0.3	$ (3)	(8.5)	1.9			11.9	2.1
Net income	21.4	22.8	10.3	(11)	$ (0.4)	$ 3.8	54.5	(7.6)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	(1.8)			(1.3)			(5.5)	(3.9)
Other Comprehensive Income (Loss), Net of Tax	1.8			1.3			5.5	3.9
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	23.2			(9.7)			60	(3.7)
Director [Member]
Share based compensation expense	0.3	1.9	0.2	0.4			2.5	0.1
Reorganization Expenses [Member]
Other Cost and Expense, Operating	0	$ 0.6	2.8	0.9			3.4	1
Union settlement [Member]
Other Cost and Expense, Operating	0		6.6	0			6.6	0
Other Expense [Member]
Other Cost and Expense, Operating	$ 0			$ 0.6			$ 0.8	$ 1
Consumer Products | Union settlement [Member]
Other Cost and Expense, Operating			2.6
Pulp And Paperboard [Member] | Union settlement [Member]
Other Cost and Expense, Operating			$ 4

Non-operating Income (Expense_3

Non-operating Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Nonoperating Income (Expense) [Abstract]
Interest Expense	$ (11.7)	$ (12.8)	$ (35.4)	$ (37.4)
Amortization of Debt Issuance Costs	(0.5)	(0.5)	(1.7)	(1.5)
Interest Income, Other	0	0	0	0.7
Interest Expense, Net	(12.2)	(13.1)	(37)	(32.5)
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	(1.9)	(1.4)	(5.7)	(4.3)
Nonoperating Income (Expense)	(17.9)	(17.2)	(47.5)	(39.5)
Interest Costs Capitalized Adjustment	0	0.3	0	5.7
Term Loan [Member]
Nonoperating Income (Expense) [Abstract]
Write off of Deferred Debt Issuance Cost	3.9	2.7	4.8	2.7
Write off of Deferred Debt Issuance Cost	$ 3.9	$ 2.7	$ 4.8	$ 2.7

Pension and Other Postretirem_2

Pension and Other Postretirement Employee Benefit Plans - Narrative (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Anti-dilutive shares excluded from calculation	0.4	1.1	0.6	1
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	$ 0.5	$ 0.6	$ 1.7	$ 1.8
Interest cost	2.6	3.1	7.8	9.3
Expected return on plan assets	(3.8)	(4.1)	(11.3)	(12.4)
Amortization of actuarial loss	2.4	1.8	7.4	5.5
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	1.7	1.4	5.6	4.3
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	0	0	0.1	0.1
Interest cost	0.6	0.7	1.8	2.1
Amortization of actuarial loss	0	(0.1)	0	(0.3)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	0.7	0.6	1.8	1.9
Cost of Sales [Member]
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax	0.3	0.4	1.1	1.1
Selling, General and Administrative Expenses [Member]
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax	$ 0.2	$ 0.3	$ 0.7	$ 0.8

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (54)		$ (54)		$ (59.5)
Other Comprehensive Income (Loss), Net of Tax	1.8	$ 1.3	5.5	$ 3.9
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(54)	(63.5)	(54)	(63.5)	(59.5)	$ (67.3)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			5.5	3.9
Other Comprehensive Income (Loss), Net of Tax			5.5	3.9
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Pension Plan [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(62.4)	(79)	(62.4)	(79)	(67.8)	(83)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			5.5	4.1
Other Comprehensive Income (Loss), Net of Tax			5.5	4.1
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Other Postretirement Benefits Plan [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 8.3	$ 15.5	8.3	15.5	$ 8.3	$ 15.7
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax			0	(0.2)
Other Comprehensive Income (Loss), Net of Tax			$ 0	$ (0.2)

Stockholders' Equity - (Detail)

Stockholders' Equity - (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,300,000		1,300,000
Stock-based compensation expense	$ 2.5	$ 0.9	$ 7.3	$ 3
Share-based Payment Arrangement, Expense, Tax Benefit	0.6	0.2	1.9	0.8
Payment, Tax Withholding, Share-based Payment Arrangement	0	$ 0	0.7	$ 0.4
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 12.7		$ 12.7
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based awards granted			377,822
Grant-date fair value of awards per share			$ 23.46
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based awards granted			120,382
Grant-date fair value of awards per share			$ 27.67

Earnings per Common Share - Rec

Earnings per Common Share - Reconciliation of Number of Common Shares Used in Calculating Basic and Diluted Net Earnings Per Share (Detail) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted Average Number of Shares Outstanding, Basic	16,595	16,539	16,581	16,531
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	188	0	107	0
Weighted Average Number of Shares Outstanding, Diluted	16,783	16,539	16,689	16,531
Basic net earnings per common share (in dollars per share)	$ 1.29	$ (0.66)	$ 3.29	$ (0.46)
Diluted net earnings per common share (in dollars per share)	$ 1.28	$ (0.66)	$ 3.27	$ (0.46)
Anti-dilutive shares excluded from calculation	400	1,100	600	1,000

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Net Sales	$ 457.4			$ 445.2	$ 1,415.8	$ 1,326
Income from operations	49.2			(2.4)	116.2	27.2
Other operating charges, net	(0.3)	$ 3	$ 8.5	(1.9)	(11.9)	(2.1)
Consumer Products
Segment Reporting Information [Line Items]
Net Sales	248.3			228.5	789.1	676.2
Income from operations	31.3			(4.4)	82.1	(8.3)
Pulp And Paperboard [Member]
Segment Reporting Information [Line Items]
Net Sales	209.1			216.6	626.6	649.7
Income from operations	32.8			17.1	91.6	80.1
Corporate
Segment Reporting Information [Line Items]
Income from operations	(14.6)			(13.2)	(45.6)	(42.5)
Retail tissue [Domain]
Segment Reporting Information [Line Items]
Net Sales	238.6			215.3	747.1	630.4
Paperboard [Domain]
Segment Reporting Information [Line Items]
Net Sales	208			215.4	623.1	644.6
Non-retail tissue [Domain]
Segment Reporting Information [Line Items]
Net Sales	6.9			12.4	31	43.2
Other [Domain]
Segment Reporting Information [Line Items]
Net Sales	$ 3.9			$ 2.1	$ 14.6	$ 7.9

Uncategorized Items - clw-20200

Label	Element	Value
Restricted Cash, Noncurrent	us-gaap_RestrictedCashNoncurrent	$ 1,100,000
Restricted Cash, Noncurrent	us-gaap_RestrictedCashNoncurrent	$ 1,000,000