Clearwater Paper (CLW) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	CLW
Entity Registrant Name	CLEARWATER PAPER CORP
Entity Central Index Key	1,441,236
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		19,056,095

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Net sales	$ 444,558	$ 498,759	$ 878,584	$ 983,679
Costs and expenses:
Cost of sales	(384,347)	(434,111)	(774,179)	(860,740)
Selling, general and administrative expenses	(28,138)	(31,565)	(57,095)	(65,079)
Asset Impairment Charges	0	0	0	(4,259)
Total operating costs and expenses	(412,485)	(465,676)	(831,274)	(930,078)
Income from operations	32,073	33,083	47,310	53,601
Interest expense, net	(7,774)	(10,688)	(15,556)	(21,422)
Earnings (loss) before income taxes	24,299	22,395	31,754	32,179
Income tax provision	(8,702)	(9,942)	(10,400)	(13,500)
Net earnings (loss)	$ 15,597	$ 12,453	$ 21,354	$ 18,679
Net earnings per common share:
Basic (in dollars per share)	$ 0.82	$ 0.61	$ 1.11	$ 0.91
Diluted (in dollars per share)	$ 0.81	$ 0.61	$ 1.10	$ 0.90

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - Entity [Domain] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014
Net earnings	$ 15,597	$ 12,453	$ 21,354		$ 18,679
Defined benefit pension and other postretirement employee benefits:
Amortization of actuarial loss included in net periodic cost, net of tax expense of $1,206 and $965	1,965	1,479	3,842		3,008
Amortization of prior service credit included in net periodic cost, net of tax benefit of $(207) and $(29)	321	559	641		604
Other comprehensive income (loss), net of tax	1,644	920	3,201	[1]	2,404	[1]
Comprehensive income	$ 17,241	$ 13,373	$ 24,555		$ 21,083
[1]	For the six months ended June 30, 2015 and 2014, net periodic costs associated with our pension and other postretirement employee benefit, or OPEB, plans included in other comprehensive income and reclassified from accumulated other comprehensive loss included $6.3 million and $4.9 million, respectively, of actuarial loss amortization, as well as $1.1 million and $1.0 million, respectively, of prior service credit amortization, all net of tax totaling $2.1 million and $1.5 million, respectively. These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs in Note 10, “Pension and Other Postretirement Employee Benefit Plans.”

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Amortization of actuarial loss included in net periodic cost, tax expense	$ 1,261	$ 934	$ 2,467	$ 1,899
Amortization of prior service credit included in net periodic cost, tax benefit	$ (204)	$ (353)	$ (411)	$ (382)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - Entity [Domain] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash	$ 11,465	$ 27,331
Restricted cash	2,270	1,500
Short-term investments	60,000	50,000
Receivables, net	141,090	133,914
Taxes receivable	0	1,255
Inventories	248,280	286,626
Deferred tax assets	20,839	21,760
Prepaid expenses	7,869	4,191
Total current assets	491,813	526,577
Property, plant and equipment, net	823,672	810,987
Goodwill	209,087	209,087
Intangible assets, net	22,473	24,956
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent	8,098	4,738
Other assets, net	7,394	9,583
TOTAL ASSETS	1,562,537	1,585,928
Current liabilities:
Accounts payable and accrued liabilities	214,701	215,826
Current liability for pensions and other postretirement employee benefits	7,915	7,915
Total current liabilities	222,616	223,741
Long-term debt	575,000	575,000
Liability for pensions and other postretirement employee benefits	114,835	118,464
Other long-term obligations	50,779	56,856
Accrued taxes	1,717	2,696
Deferred tax liabilities	110,289	111,634
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, 24,153,987 and 24,056,057 shares issued	2	2
Additional paid-in capital	336,431	334,074
Retained earnings	485,678	464,324
Treasury stock, at cost, common shares-5,097,883 and 4,498,388 shares repurchased	(267,148)	(230,000)
Accumulated other comprehensive loss, net of tax	(67,662)	(70,863)
Total stockholders' equity	487,301	497,537
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,562,537	$ 1,585,928

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Preferred stock, par value (in dollars per share)	$ 0.0001000	$ 0.0001000
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001000	$ 0.0001000
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	24,153,978	24,056,057
Treasury stock, shares (in shares)	5,097,883	4,498,388

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - Entity [Domain] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings	$ 21,354	$ 18,679
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	41,640	44,246
Equity-based compensation expense	2,019	6,910
Asset Impairment Charges	0	4,259
Deferred tax expense	(2,480)	9,857
Employee benefit plans	1,438	979
Amortization of Financing Costs and Discounts	446	949
Gain (Loss) on Disposition of Assets	272	422
Other Noncash Income Tax Expense	(979)	0
Changes in working capital, net	29,309	14,818
Change in taxes receivable, net	1,255	3,663
Excess tax benefits from equity share-based payment arrangements	1,459	0
Funding of qualified pension plans	(3,179)	(8,889)
Other Operating Activities, Cash Flow Statement	(1,726)	(980)
Net cash provided by operating activities	87,910	94,913
CASH FLOWS FROM INVESTING ACTIVITIES
Change in short-term investments, net	(10,000)	11,000
Additions to plant and equipment	(55,538)	(32,612)
Proceeds from Sale of Productive Assets	507	619
Net cash used for investing activities	(65,031)	(20,993)
CASH FLOWS FROM FINANCING ACTIVITIES
Purchase of treasury stock	(37,148)	(74,322)
Payment of tax withholdings on equity-based payment arrangements	(3,048)	(792)
Excess Tax Benefit from Share-based Compensation, Financing Activities	1,459	0
Proceeds from (Payments for) Other Financing Activities	(8)	0
Net cash (used for) provided by financing activities	(38,745)	(75,114)
Increase in cash	(15,866)	(1,194)
Cash at beginning of period	27,331	23,675
Cash at end of period	11,465	22,481
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest, net of amounts capitalized	14,280	19,547
Cash paid for income taxes	8,030	4,211
Cash received from income tax refunds	2,029	4,170
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING ACTIVITIES:
Capital Expenditures Incurred but Not yet Paid	$ (5,187)	$ (912)

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation GENERAL Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores. In addition, the company produces bleached paperboard used by quality-conscious printers and packaging converters. On December 30, 2014, we sold our specialty business and mills to a private buyer for $108 million in cash, net of sale related expenses and adjustments. The specialty business and mills' production consisted predominantly of machine-glazed tissue and also included parent rolls and other specialty tissue products such as absorbent materials and dark-hued napkins. The sale included five of our former subsidiaries with facilities located at East Hartford, Connecticut; Menominee, Michigan; Gouverneur, New York; St. Catharines, Ontario; and Wiggins, Mississippi. Included in the sale related expenses and adjustments was the impact of certain indemnity and working capital escrow clauses in the sales agreement. These escrowed amounts totaled $3.8 million of restricted cash on our December 31, 2014 Consolidated Balance Sheet. During the second quarter of 2015, the working capital escrow account established in connection with the sale of the specialty business and mills was settled, resulting in the release of $1.5 million from the restricted cash escrow account and the recognition of a corresponding gain recorded in "Selling, general and administrative expenses" within our Consolidated Statement of Operations. On February 17, 2014, we announced the permanent and immediate closure of our Long Island, New York, tissue converting and distribution facility. As of June 30, 2015 , we have incurred $20.1 million of costs associated with the closure, of which $0.7 million and $1.3 million , respectively, were incurred during the three and six month periods ended June 30, 2015 . FINANCIAL STATEMENT PREPARATION AND PRESENTATION The accompanying Consolidated Balance Sheets at June 30, 2015 and December 31, 2014 , the related Consolidated Statements of Operations and Comprehensive Income for the three and six months ended June 30, 2015 and 2014 , and the Consolidated Statements of Cash Flows for the six months ended June 30, 2015 and 2014 , have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP. We believe that all adjustments necessary for a fair statement of the results of the interim periods presented have been included. The results of operations for any interim period are not necessarily indicative of the results of operations to be expected for the full year. This Quarterly Report on Form 10-Q should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014 , as filed with the Securities and Exchange Commission, or SEC, on February 26, 2015 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SIGNIFICANT ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. Significant areas requiring the use of estimates and measurement of uncertainty include determination of net realizable value for deferred tax assets, uncertain tax positions, assessment of impairment of long-lived assets, goodwill and intangibles, assessment of environmental matters, equity-based compensation and pension and postretirement obligation assumptions. Actual results could differ from those estimates and assumptions. SHORT-TERM INVESTMENTS AND RESTRICTED CASH Our short-term investments are invested primarily in demand deposits, which have very short maturity periods, and therefore earn an interest rate commensurate with low-risk instruments. We do not attempt to hedge our exposure to interest rate risk for our short-term investments. Our restricted cash in which the underlying instrument has a term of greater than twelve months from the balance sheet date is classified as non-current and is included in “Other assets, net” on our Consolidated Balance Sheet. As of June 30, 2015 , we had $2.3 million classified as current on our Consolidated Balance Sheet. As of December 31, 2014 , we had $1.5 million of restricted cash classified as current and $2.3 million of restricted cash classified as non-current and included in "Other assets, net" on our Consolidated Balance Sheets. TRADE ACCOUNTS RECEIVABLE Trade accounts receivable are stated at the amount we expect to collect. Trade accounts receivable do not bear interest. The allowance for doubtful accounts is our best estimate of the losses we expect will result from the inability of our customers to make required payments. We generally determine the allowance based on a combination of actual historical write-off experience and an analysis of specific customer accounts. As of both June 30, 2015 and December 31, 2014 , we had allowances for doubtful accounts of $1.4 million . PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are stated at cost, including any interest costs capitalized, less accumulated depreciation. Depreciation of buildings, equipment and other depreciable assets is determined using the straight-line method. Assets we acquire through business combinations have estimated lives that are typically shorter than the assets we construct or buy new. Accumulated depreciation totaled $1,485.3 million and $1,450.1 million at June 30, 2015 and December 31, 2014 , respectively. Consistent with authoritative guidance, we assess the carrying amount of long-lived assets with definite lives that are held-for-use and evaluate them for recoverability whenever events or changes in circumstances indicate that we may be unable to recover the carrying amount of the assets. During the first quarter of 2014, we permanently closed our Long Island tissue converting and distribution facility. As a result of this closure, we considered an outside third party's appraisal in assessing the recoverability of the facility's long-lived plant and equipment based on available market data for comparable assets sold through private party transactions. Based on this assessment, we determined the carrying amounts of certain long-lived plant and equipment related to the Long Island facility exceeded their fair value. As a result, we recorded a $3.0 million non-cash impairment charge to our accompanying Consolidated Statement of Operations for the six months ended June 30, 2014 . There were no other such events or changes in circumstances that impacted our remaining long-lived assets. STOCKHOLDERS’ EQUITY On December 15, 2014, we announced that our Board of Directors had approved a new stock repurchase program authorizing the repurchase of up to $100 million of our common stock. The repurchase program authorizes purchases of our common stock from time to time through open market purchases, negotiated transactions or other means, including accelerated stock repurchases and 10b5-1 trading plans in accordance with applicable securities laws and other restrictions. We have no obligation to repurchase stock under this program and may suspend or terminate the program at any time. We have repurchased 599,495 shares of our outstanding common stock at an average price of $61.97 per share under this program. As of June 30, 2015 , we had up to $62.9 million of authorization remaining pursuant to this stock repurchase program. On February 5, 2014, we announced that our Board of Directors had approved a stock repurchase program authorizing the repurchase of up to $100 million of our common stock. We completed that program during the third quarter of 2014. In total, we repurchased 1,574,748 shares of our outstanding common stock at an average price of $63.50 per share under that program. DERIVATIVES We had no activity during the six months ended June 30, 2015 and 2014 that required hedge or derivative accounting treatment. However, to help mitigate our exposure to market risk for changes in utility commodity pricing, we use firm price contracts to supply a portion of the natural gas requirements for our manufacturing facilities. As of June 30, 2015 , these contracts covered approximately 58% of our expected average monthly natural gas requirements for the remainder of 2015. Historically, these contracts have qualified for treatment as “normal purchases or normal sales” under authoritative guidance and thus required no mark-to-market adjustment. EMPLOYEES Unions represent hourly employees at six of our manufacturing sites. There are no collective bargaining agreements due to expire in 2015. The hourly union labor contracts that had expired as set forth on page 6 of our Annual Report on Form 10-K for the year ended December 31, 2014 were ratified during the first quarter of 2015.

Recently Adopted and New Accoun

Recently Adopted and New Accounting Standards	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Adopted and New Accounting Standards	Recently Adopted and New Accounting Standards In July 2015, the Financial Accounting Standards Board, or FASB, issued Accounting Standard Update, or ASU, 2015-11, Simplifying the Measurement of Inventory . This standard is part of the FASB’s simplification initiative and applies to entities that measure inventory using a method other than last-in, first-out (LIFO) or the retail inventory method (e.g., first-in, first-out (FIFO), average cost). Under this ASU, entities that utilize FIFO and average cost must switch from the lower of cost or market to the lower of cost and net realizable value. This ASU requires prospective adoption for inventory measurements for fiscal years beginning after December 15, 2016, and interim periods within those years for public business entities. Early adoption is permitted. We are currently evaluating the impact this guidance will have on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . The core principle of the new standard is for companies to recognize revenue in a manner that depicts the transfer of goods or services to customers in amounts that reflect the consideration, or payment, to which the company expects to be entitled in exchange for those goods or services. The standard will also result in enhanced disclosures about revenue, provide guidance for transactions that were not previously addressed comprehensively, such as service revenue and contract modifications, and clarify guidance for multiple-element arrangements. This standard was originally issued as effective for fiscal years and interim periods within those years beginning after December 15, 2016, with early adoption prohibited. However, in July 2015, the FASB approved deferring the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date. In its approval, the FASB also permitted the early adoption of the standard, but not before the original effective date of fiscal years beginning after December 15, 2016. The standard may be applied under either a retrospective or cumulative effect adoption method. We plan on adopting the standard under the deferred effective date and are currently evaluating the impact this guidance will have on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs . This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred asset. It is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The adoption of this guidance is not expected to have a significant effect on our consolidated financial statements. We reviewed all other new accounting pronouncements issued in the period and concluded that they are not applicable to our business.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories at the balance sheet dates consist of: (In thousands) June 30, 2015 December 31, 2014 Pulp, paperboard and tissue products $ 161,304 $ 188,760 Materials and supplies 74,439 74,916 Logs, pulpwood, chips and sawdust 12,537 22,950 $ 248,280 $ 286,626

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2015
Finite-Lived Intangible Assets, Net [Abstract]
Intangible Assets	Intangible Assets Intangible assets at the balance sheet dates are comprised of the following: June 30, 2015 (Dollars in thousands, lives in years) Useful Life Historical Cost Accumulated Amortization Net Balance Customer relationships 9.0 $ 41,001 $ (20,500 ) $ 20,501 Trade names and trademarks 10.0 3,286 (1,479 ) 1,807 Non-compete agreements 5.0 574 (409 ) 165 $ 44,861 $ (22,388 ) $ 22,473 December 31, 2014 (Dollars in thousands, lives in years) Useful Life Historical Cost Accumulated Amortization Net Balance Customer relationships 9.0 $ 41,001 $ (18,223 ) $ 22,778 Trade names and trademarks 10.0 3,286 (1,314 ) 1,972 Non-compete agreements 5.0 1,189 (983 ) 206 $ 45,476 $ (20,520 ) $ 24,956 As a result of the closure of our Long Island tissue converting and distribution facility, we performed an assessment of the recoverability of our intangible assets by utilizing the income approach, which discounts projected future cash flows based on management’s expectations of the current and future operating environment. It was determined that the carrying amounts of certain trade names and trademarks related to the Long Island facility were exceeding their fair value. As a result, in the first quarter of 2014 we recorded a $1.3 million non-cash impairment charge in our accompanying Consolidated Statement of Operations. There were no other such events or changes in circumstances that impacted our remaining definite-lived intangible assets.

Taxes

Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Taxes	Income Taxes Consistent with authoritative guidance, our estimated annual effective tax rate is used to allocate our expected annual income tax provision to interim periods. The rate is the ratio of our estimated annual income tax provision to estimated pre-tax ordinary income and excludes "discrete items," which are significant, unusual or infrequent items reported separately, net of their related tax effect. The estimated annual effective tax rate is applied to the current interim period’s ordinary income to determine the income tax provision allocated to the interim period. The income tax effects of discrete items are then determined separately and recognized in the interim period in which the income or expense items arise. For the three and six months ended June 30, 2015 and 2014 , the effective tax rates attributable to continuing operations were as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % State taxes, net of credits 2.2 0.9 2.2 0.9 Change in valuation allowances 0.9 1.6 0.9 2.5 Federal manufacturing deduction (3.1 ) (1.7 ) (3.1 ) (1.7 ) Change in uncertain tax positions — — (3.1 ) — Interest accrued on uncertain tax positions — 0.1 0.1 0.1 Federal credits and audit adjustments (0.4 ) (0.1 ) (0.4 ) (1.4 ) State rate adjustments — 4.6 — 3.2 Return to provision adjustments — 4.1 (0.1 ) 3.1 Other 1.2 (0.1 ) 1.3 0.3 Effective tax rate 35.8 % 44.4 % 32.8 % 42.0 % Our estimated annual effective tax rate for the second quarter of 2015 and 2014 is approximately 35% . During the quarter ended June 30, 2014 , we recognized the effects of enacted New York state law changes. As part of the analysis, we identified that, in prior years, we had not applied the proper apportionment factor when certain New York state net operating loss carryforwards were generated, which resulted in a $2.9 million overstatement that was corrected in the period and is included as a discrete item within state rate adjustments due to immateriality. Additionally, return to provision adjustments, including amended returns, generated expense of 7.4% , which was offset by other state return to provision adjustments benefit of 3.3% .

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	6 Months Ended
	Jun. 30, 2015
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at the balance sheet dates consist of: (In thousands) June 30, 2015 December 31, 2014 Trade accounts payable $ 122,918 $ 122,856 Accrued wages, salaries and employee benefits 37,842 41,880 Accrued interest 11,932 12,173 Accrued discounts and allowances 11,510 10,026 Accrued utilities 6,417 6,959 Accrued taxes other than income taxes payable 5,950 5,622 Other 18,132 16,310 $ 214,701 $ 215,826

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt SENIOR NOTES On July 29, 2014 , we issued $300 million aggregate principal amount of senior notes, which we refer to as the 2014 Notes. The 2014 Notes mature on February 1, 2025 , have an interest rate of 5.375% and were issued at their face value. The 2014 Notes are guaranteed by all of our direct and indirect subsidiaries. The 2014 Notes will also be guaranteed by each of our future direct and indirect subsidiaries that do not constitute an immaterial subsidiary under the indenture governing the 2014 Notes. The 2014 Notes are equal in right of payment with all other existing and future unsecured senior indebtedness and are senior in right of payment to any future subordinated indebtedness. The 2014 Notes are effectively subordinated to all of our existing and future secured indebtedness, including borrowings under our secured revolving credit facility, which is secured by certain of our accounts receivable, inventory and cash. The terms of the 2014 Notes limit our ability and the ability of any restricted subsidiaries to incur certain liens, engage in sale and leaseback transactions and consolidate, merge with, or convey, transfer or lease substantially all of our or their assets to another person. On January 23, 2013, we issued $275 million aggregate principal amount of senior notes, which we refer to as the 2013 Notes. The 2013 Notes mature on February 1, 2023 , have an interest rate of 4.5% and were issued at their face value. The 2013 Notes are guaranteed by all of our direct and indirect subsidiaries, and will also be guaranteed by each of our future direct and indirect subsidiaries that we do not designate as an unrestricted subsidiary under the indenture governing these notes. The 2013 Notes are equal in right of payment with all other existing and future unsecured senior indebtedness and are senior in right of payment to any future subordinated indebtedness. In addition, they are effectively subordinated to all of our existing and future secured indebtedness, including borrowings under our secured revolving credit facility, which is secured by certain of our accounts receivable, inventory and cash. The terms of the notes limit our ability and the ability of any restricted subsidiaries to borrow money; pay dividends; redeem or repurchase capital stock; make investments; sell assets; create restrictions on the payment of dividends or other amounts to us from any restricted subsidiaries; enter into transactions with affiliates; enter into sale and lease back transactions; create liens; and consolidate, merge or sell all or substantially all of our or their assets. REVOLVING CREDIT FACILITY On November 26, 2008, we entered into a $125 million senior secured revolving credit facility with certain financial institutions. The amount available to us under the revolving credit facility is based on the lesser of 85% of our eligible accounts receivable plus approximately 65% of our eligible inventory, or $125 million . The revolving credit facility has been subsequently amended and expires on September 30, 2016 . As of June 30, 2015 , there were no borrowings outstanding under the credit facility, but $6.2 million of the credit facility was being used to support outstanding standby letters of credit. Loans under the credit facility bear interest (i) for LIBOR loans, LIBOR plus between 1.75% and 2.25% and (ii) for base rate loans, a per annum rate equal to the greater of (a) the prime rate for such day; (b) the federal funds effective rate for such day, plus 0.50% ; or (c) LIBOR for a 30-day interest period as determined on such day, plus between 1.25% and 1.75% . The percentage margin on all loans is based on our fixed charge coverage ratio for the most recent four quarters. As of June 30, 2015 , we would have been permitted to draw an additional $118.8 million under the credit facility at LIBOR plus 1.75% , or base rate plus 1.25% . A minimum fixed charge coverage ratio is the only financial covenant requirement under our credit facility and is triggered when there are any commitments or obligations outstanding and availability falls below 12.5% or an event of default exists, at which time the minimum fixed charge coverage ratio must be at least 1.0 -to-1.0. As of June 30, 2015 , the fixed charge coverage ratio for the most recent four quarters was 1.1 -to-1.0. Our obligations under the revolving credit facility are secured by certain of our accounts receivable, inventory and cash. The terms of the credit facility contain various provisions that limit our discretion in the operations of our business by restricting our ability to, among other things, pay dividends; redeem or repurchase capital stock; create, incur or guarantee certain debt; incur liens on certain properties; make capital expenditures; enter into certain affiliate transactions; enter into certain hedging arrangements; and consolidate with or merge with another entity. The revolving credit facility contains usual and customary affirmative and negative covenants and usual and customary events of default.

Other Long-Term Obligations

Other Long-Term Obligations	6 Months Ended
	Jun. 30, 2015
Other Liabilities, Noncurrent [Abstract]
Other Long-Term Obligations	Other Long-Term Obligations Other long-term obligations at the balance sheet dates consist of: (In thousands) June 30, 2015 December 31, 2014 Long-term lease obligations, net of current portion $ 24,437 $ 24,805 Deferred compensation 12,888 14,609 Deferred proceeds 10,883 12,360 Other 2,571 5,082 $ 50,779 $ 56,856

Reclassification out of Accumul

Reclassification out of Accumulated Other Comprehensive Income (Notes)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income [Text Block]	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss, net of tax, is comprised of the following: (In thousands) Foreign Currency Translation Adjustments 1 Pension and Other Post Retirement Employee Benefit Plan Adjustments Total Balance at December 31, 2014 $ — $ (70,863 ) $ (70,863 ) Other comprehensive income, net of tax 2 — 3,201 3,201 Balance at June 30, 2015 $ — $ (67,662 ) $ (67,662 ) (In thousands) Foreign Currency Translation Adjustments 1 Pension and Other Post Retirement Employee Benefit Plan Adjustments Total Balance at December 31, 2013 $ (874 ) $ (57,219 ) $ (58,093 ) Other comprehensive income, net of tax 2 — 2,404 2,404 Balance at June 30, 2014 $ (874 ) $ (54,815 ) $ (55,689 ) 1 This balance consists of unrealized foreign currency translation adjustments related to the operations of our Canadian subsidiary before its functional currency was changed from Canadian dollars to U.S. dollars in 2012. As a result of the divestiture of the specialty business and mills, this balance was written off in the fourth quarter of 2014. 2 For the six months ended June 30, 2015 and 2014 , net periodic costs associated with our pension and other postretirement employee benefit, or OPEB, plans included in other comprehensive income and reclassified from accumulated other comprehensive loss included $6.3 million and $4.9 million , respectively, of actuarial loss amortization, as well as $1.1 million and $1.0 million , respectively, of prior service credit amortization, all net of tax totaling $2.1 million and $1.5 million , respectively. These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs in Note 10, “Pension and Other Postretirement Employee Benefit Plans.”

Pension and Other Postretiremen

Pension and Other Postretirement Employee Benefit Plans	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Employee Benefit Plans	Pension and Other Postretirement Employee Benefit Plans The following table details the components of net periodic cost of our company-sponsored pension and OPEB plans for the periods presented: Three Months Ended June 30, (In thousands) 2015 2014 2015 2014 Pension Benefit Plans Other Postretirement Employee Benefit Plans Service cost $ 307 $ 340 $ 33 $ 109 Interest cost 3,475 3,724 892 980 Expected return on plan assets (5,074 ) (5,083 ) — — Amortization of prior service cost (credit) 18 51 (543 ) (963 ) Amortization of actuarial loss (gain) 3,226 2,555 — (142 ) Net periodic cost (benefit) $ 1,952 $ 1,587 $ 382 $ (16 ) Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Pension Benefit Plans Other Postretirement Employee Benefit Plans Service cost $ 623 $ 695 $ 181 $ 226 Interest cost 6,965 7,412 1,940 2,282 Expected return on plan assets (10,058 ) (10,098 ) — — Amortization of prior service cost (credit) 36 103 (1,088 ) (1,089 ) Amortization of actuarial loss (gain) 6,309 5,049 — (142 ) Net periodic cost $ 3,875 $ 3,161 $ 1,033 $ 1,277 During the six months ended June 30, 2015 , we contributed $3.2 million to our qualified pension plans. We do not expect to make additional contributions in 2015 . During the six months ended June 30, 2015 , we made contributions of $0.2 million to our company-sponsored non-qualified pension plan, and we estimate contributions will total $0.4 million in 2015 . We do not anticipate funding our OPEB plans in 2015 except to pay benefit costs as incurred during the year by plan participants. During the three and six months ended June 30, 2015 , $1.6 million and $3.4 million , respectively, of net periodic pension and OPEB costs were charged to "Cost of sales," and $0.7 million and $1.5 million , respectively, were charged to "Selling, general and administrative expenses" in the accompanying Consolidated Statements of Operations. During the three and six months ended June 30, 2014 , $1.0 million and $3.3 million , respectively, of net periodic pension and OPEB costs were charged to "Cost of sales," and $0.6 million and $1.1 million , respectively, were charged to "Selling, general and administrative expenses" in the accompanying Consolidated Statements of Operations.

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share Basic earnings per share are based on the weighted average number of shares of common stock outstanding. Diluted earnings per share are 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. The following table reconciles the number of common shares used in calculating the basic and diluted net earnings per share: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic average common shares outstanding 1 19,081,848 20,256,137 19,205,254 20,614,305 Incremental shares due to: Restricted stock units 93,459 78,508 74,324 73,692 Performance shares 118,868 182,026 104,330 181,612 Stock options 79 — 459 — Diluted average common shares outstanding 19,294,254 20,516,671 19,384,367 20,869,609 Basic net earnings per common share $ 0.82 $ 0.61 $ 1.11 $ 0.91 Diluted net earnings per common share 0.81 0.61 1.10 0.90 Anti-dilutive shares excluded from calculation 265,149 210,771 326,085 248,429 1 Basic average common shares outstanding include restricted stock awards that are fully vested, but are deferred for future issuance.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	Equity-Based Compensation We recognize equity-based compensation expense for all equity-based payment awards made to employees and directors, including restricted stock units, or RSUs, performance shares and stock options, based on estimated fair values. EMPLOYEE AWARDS Employee equity-based compensation expense was recognized as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Restricted stock units $ 552 $ 587 $ 963 $ 1,032 Performance shares 1,164 1,474 2,043 2,555 Stock options 592 407 941 543 Total employee equity-based compensation $ 2,308 $ 2,468 $ 3,947 $ 4,130 As provided for in the Clearwater Paper Corporation 2008 Stock Incentive Plan, the performance measure used to determine the number of performance shares ultimately issued is a comparison of the percentile ranking of our total stockholder return compared to the total stockholder return of a selected peer group. The number of shares actually issued, as a percentage of the amount subject to the performance share award, could range from 0% - 200% . On December 31, 2014, the service and performance period for 137,775 outstanding performance shares granted in 2012 ended. Those performance shares were settled and distributed in the first quarter of 2015. The number of shares actually settled, as a percentage of the outstanding amount, was 106.9% . After adjusting for the related minimum tax withholdings, a net 97,921 shares were issued in the first quarter of 2015. The related minimum tax withholdings payment made in the first quarter of 2015 in connection with issued shares was $3.0 million . No restricted stock units vested and settled during the first half of 2015 . The following table summarizes the number of share-based awards granted under the Clearwater Paper Corporation 2008 Stock Incentive Plan during the six months ended June 30, 2015 and the grant-date fair value of the awards: Six Months Ended June 30, 2015 Number of Shares Subject to Award Average Fair Value of Award Per Share Restricted stock units 23,148 $ 62.02 Performance shares 47,513 62.05 Stock options 142,542 20.82 DIRECTOR AWARDS Annually, each outside member of our Board of Directors receives deferred equity-based awards that are measured in units of our common stock and ultimately settled in cash at the time of payment. Accordingly, the compensation expense associated with these awards is subject to fluctuations each quarter based on mark-to-market adjustments at each reporting period in line with changes in the market price of our common stock. As a result of the mark-to-market adjustment, we recorded benefits from director equity-based compensation of $1.5 million and less than $0.1 million for the three months ended June 30, 2015 and 2014, respectively. For the six months ended June 30, 2015, we recorded a benefit relating to our director equity-based compensation of $1.9 million , compared to compensation expense of $2.8 million for the same period in 2014. As of June 30, 2015 , the liability amount associated with director equity-based compensation included in "Other long-term obligations" on the accompanying Consolidated Balance Sheet was $11.6 million . At December 31, 2014 , liability amounts associated with director equity-based compensation included in "Other long-term obligations" and "Accounts payable and accrued liabilities" totaled $13.5 million and $1.4 million , respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The estimated fair values of our financial instruments at the dates presented below are as follows: June 30, December 31, 2015 2014 Carrying Fair Carrying Fair (In thousands) Amount Value Amount Value Cash, restricted cash and short-term investments (Level 1) $ 73,735 $ 73,735 $ 81,101 $ 81,101 Long-term debt (Level 1) 575,000 558,875 575,000 558,000 Accounting guidance establishes a framework for measuring the fair value of financial instruments, providing a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities, or “Level 1” measurements, followed by quoted prices of similar assets or observable market data, or “Level 2” measurements, and the lowest priority to unobservable inputs, or “Level 3” measurements. The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used should seek to maximize the use of observable inputs and minimize the use of unobservable inputs.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information The table below presents information about our reportable segments: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Segment net sales: Consumer Products $ 239,391 $ 299,130 $ 474,567 $ 585,638 Pulp and Paperboard 205,167 199,629 404,017 398,041 Total segment net sales $ 444,558 $ 498,759 $ 878,584 $ 983,679 Operating income (loss): Consumer Products $ 17,032 $ 12,705 $ 29,427 $ 12,182 Pulp and Paperboard 27,754 33,635 43,948 70,411 44,786 46,340 73,375 82,593 Corporate (12,713 ) (13,257 ) (26,065 ) (28,992 ) Income from operations $ 32,073 $ 33,083 $ 47,310 $ 53,601 Depreciation and amortization: Consumer Products $ 13,438 $ 15,071 $ 26,415 $ 30,561 Pulp and Paperboard 6,737 6,019 14,048 12,289 Corporate 457 925 1,177 1,396 Total depreciation and amortization $ 20,632 $ 22,015 $ 41,640 $ 44,246

Supplemental Guarantor Financia

Supplemental Guarantor Financial Information	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor Financial Information	Supplemental Guarantor Financial Information All of our direct and indirect subsidiaries guarantee the 2014 Notes and the 2013 Notes on a joint and several basis. There are no significant restrictions on the ability of the guarantor subsidiaries to make distributions to Clearwater Paper, the issuer of the 2014 Notes and 2013 Notes. The following tables present the results of operations, financial position and cash flows of Clearwater Paper and its subsidiaries, the guarantor and non-guarantor entities, and the eliminations necessary to arrive at the information for Clearwater Paper on a consolidated basis. Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2015 Guarantor Non-Guarantor (In thousands) Issuer Subsidiaries Subsidiary Eliminations Total Net sales $ 401,444 $ 70,271 $ — $ (27,157 ) $ 444,558 Cost and expenses: Cost of sales (342,714 ) (68,790 ) — 27,157 (384,347 ) Selling, general and administrative expenses (25,431 ) (2,707 ) — — (28,138 ) Total operating costs and expenses (368,145 ) (71,497 ) — 27,157 (412,485 ) Income (loss) from operations 33,299 (1,226 ) — — 32,073 Interest expense, net (7,715 ) (59 ) — — (7,774 ) Earnings (loss) before income taxes 25,584 (1,285 ) — — 24,299 Income tax provision (9,681 ) (841 ) — 1,820 (8,702 ) Equity in loss of subsidiary (2,126 ) — — 2,126 — Net earnings (loss) $ 13,777 $ (2,126 ) $ — $ 3,946 $ 15,597 Other comprehensive income, net of tax 1,644 — — — 1,644 Comprehensive income (loss) $ 15,421 $ (2,126 ) $ — $ 3,946 $ 17,241 Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2015 Guarantor Non-Guarantor (In thousands) Issuer Subsidiaries Subsidiaries Eliminations Total Net sales $ 796,831 $ 143,599 $ — $ (61,846 ) $ 878,584 Cost and expenses: Cost of sales (693,760 ) (142,265 ) — 61,846 (774,179 ) Selling, general and administrative expenses (50,219 ) (6,876 ) — — (57,095 ) Total operating costs and expenses (743,979 ) (149,141 ) — 61,846 (831,274 ) Income (loss) from operations 52,852 (5,542 ) — — 47,310 Interest expense, net (15,482 ) (74 ) — — (15,556 ) Earnings (loss) before income taxes 37,370 (5,616 ) — — 31,754 Income tax provision (12,909 ) (1,183 ) — 3,692 (10,400 ) Equity in loss of subsidiary (6,799 ) — — 6,799 — Net earnings (loss) $ 17,662 $ (6,799 ) $ — $ 10,491 $ 21,354 Other comprehensive income, net of tax 3,201 — — — 3,201 Comprehensive income (loss) $ 20,863 $ (6,799 ) $ — $ 10,491 $ 24,555 Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2014 Guarantor Non-Guarantor (In thousands) Issuer Subsidiaries Subsidiary Eliminations Total Net sales $ 401,866 $ 133,972 $ 14,180 $ (51,259 ) $ 498,759 Cost and expenses: Cost of sales (341,902 ) (131,114 ) (12,354 ) 51,259 (434,111 ) Selling, general and administrative expenses (25,907 ) (5,320 ) (338 ) — (31,565 ) Total operating costs and expenses (367,809 ) (136,434 ) (12,692 ) 51,259 (465,676 ) Income (loss) from operations 34,057 (2,462 ) 1,488 — 33,083 Interest expense, net (10,681 ) (7 ) — — (10,688 ) Earnings (loss) before income taxes 23,376 (2,469 ) 1,488 — 22,395 Income tax provision (7,272 ) (5,675 ) (390 ) 3,395 (9,942 ) Equity in (loss) income of subsidiary (7,046 ) 1,098 — 5,948 — Net earnings (loss) $ 9,058 $ (7,046 ) $ 1,098 $ 9,343 $ 12,453 Other comprehensive income, net of tax 920 — — — 920 Comprehensive income (loss) $ 9,978 $ (7,046 ) $ 1,098 $ 9,343 $ 13,373 Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2014 Guarantor Non-Guarantor (In thousands) Issuer Subsidiaries Subsidiaries Eliminations Total Net sales $ 786,487 $ 272,645 $ 27,064 $ (102,517 ) $ 983,679 Cost and expenses: Cost of sales (660,294 ) (277,203 ) (25,760 ) 102,517 (860,740 ) Selling, general and administrative expenses (53,566 ) (10,837 ) (676 ) — (65,079 ) Impairment of assets — (4,259 ) — — (4,259 ) Total operating costs and expenses (713,860 ) (292,299 ) (26,436 ) 102,517 (930,078 ) Income (loss) from operations 72,627 (19,654 ) 628 — 53,601 Interest expense, net (21,404 ) (18 ) — — (21,422 ) Earnings (loss) before income taxes 51,223 (19,672 ) 628 — 32,179 Income tax (provision) benefit (20,749 ) 3,697 (184 ) 3,736 (13,500 ) Equity in (loss) earnings of subsidiary (15,531 ) 444 — 15,087 — Net earnings (loss) $ 14,943 $ (15,531 ) $ 444 $ 18,823 $ 18,679 Other comprehensive income, net of tax 2,404 — — — 2,404 Comprehensive income (loss) $ 17,347 $ (15,531 ) $ 444 $ 18,823 $ 21,083 Clearwater Paper Corporation Consolidating Balance Sheet At June 30, 2015 (In thousands) Issuer Guarantor Subsidiaries Non-Guarantor Subsidiary Eliminations Total ASSETS Current assets: Cash $ 11,465 $ — $ — $ — $ 11,465 Restricted cash 2,270 — — — 2,270 Short-term investments 60,000 — — — 60,000 Receivables, net 124,051 17,444 — (405 ) 141,090 Inventories 212,773 35,507 — — 248,280 Deferred tax assets 18,273 2,720 — (154 ) 20,839 Prepaid expenses 7,397 472 — — 7,869 Total current assets 436,229 56,143 — (559 ) 491,813 Property, plant and equipment, net 675,758 147,914 — — 823,672 Goodwill 209,087 — — — 209,087 Intangible assets, net 4,702 17,771 — — 22,473 Intercompany receivable (payable) 31,877 (32,031 ) — 154 — Investment in subsidiary 130,483 — — (130,483 ) — Pension assets 8,098 — — — 8,098 Other assets, net 6,352 1,042 — — 7,394 TOTAL ASSETS $ 1,502,586 $ 190,839 $ — $ (130,888 ) $ 1,562,537 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 191,723 $ 23,383 $ — $ (405 ) $ 214,701 Current liability for pensions and other postretirement employee benefits 7,915 — — — 7,915 Total current liabilities 199,638 23,383 — (405 ) 222,616 Long-term debt 575,000 — — — 575,000 Liability for pensions and other postretirement employee benefits 114,835 — — — 114,835 Other long-term obligations 50,078 701 — — 50,779 Accrued taxes 925 792 — — 1,717 Deferred tax liabilities 74,809 35,480 — — 110,289 Accumulated other comprehensive loss, net of tax (67,662 ) — — — (67,662 ) Stockholders’ equity excluding accumulated other comprehensive loss 554,963 130,483 — (130,483 ) 554,963 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,502,586 $ 190,839 $ — $ (130,888 ) $ 1,562,537 Clearwater Paper Corporation Consolidating Balance Sheet At December 31, 2014 (In thousands) Issuer Guarantor Subsidiaries Non-Guarantor Subsidiary Eliminations Total ASSETS Current assets: Cash $ 27,331 $ — $ — $ — $ 27,331 Restricted cash 1,500 — — — 1,500 Short-term investments 50,000 — — — 50,000 Receivables, net 117,970 16,557 — (613 ) 133,914 Taxes receivable 6,760 (15,758 ) — 10,253 1,255 Inventories 246,210 40,416 — — 286,626 Deferred tax assets 14,733 5,206 — 1,821 21,760 Prepaid expenses 3,734 457 — — 4,191 Total current assets 468,238 46,878 — 11,461 526,577 Property, plant and equipment, net 657,369 153,618 — — 810,987 Goodwill 209,087 — — — 209,087 Intangible assets, net 5,224 19,732 — — 24,956 Intercompany receivable (payable) 33,703 (21,629 ) — (12,074 ) — Investment in subsidiary 137,282 — — (137,282 ) — Pension assets 4,738 — — — 4,738 Other assets, net 8,496 1,087 — — 9,583 TOTAL ASSETS $ 1,524,137 $ 199,686 $ — $ (137,895 ) $ 1,585,928 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 193,326 $ 23,113 $ — $ (613 ) $ 215,826 Current liability for pensions and other postretirement employee benefits 7,915 — — — 7,915 Total current liabilities 201,241 23,113 — (613 ) 223,741 Long-term debt 575,000 — — — 575,000 Liability for pensions and other postretirement employee benefits 118,464 — — — 118,464 Other long-term obligations 56,029 827 — — 56,856 Accrued taxes 1,902 794 — — 2,696 Deferred tax liabilities 73,964 37,670 — — 111,634 Accumulated other comprehensive loss, net of tax (70,863 ) — — — (70,863 ) Stockholders’ equity excluding accumulated other comprehensive loss 568,400 137,282 — (137,282 ) 568,400 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,524,137 $ 199,686 $ — $ (137,895 ) $ 1,585,928 Clearwater Paper Corporation Consolidating Statement of Cash Flows Six Months Ended June 30, 2015 (In thousands) Issuer Guarantor Subsidiaries Non-Guarantor Subsidiary Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES Net earnings (loss) $ 17,662 $ (6,799 ) $ — $ 10,491 $ 21,354 Adjustments to reconcile net earnings (loss) to net cash flows from operating activities: Depreciation and amortization 31,792 9,848 — — 41,640 Equity-based compensation expense 2,019 — — — 2,019 Deferred tax (benefit) provision (4,751 ) 296 — 1,975 (2,480 ) Employee benefit plans 1,438 — — — 1,438 Deferred issuance costs and discounts on long-term debt 446 — — — 446 Disposal of plant and equipment, net 303 (31 ) — — 272 Non-cash adjustments to unrecognized taxes (977 ) (2 ) — — (979 ) Changes in working capital, net 23,859 5,450 — — 29,309 Changes in taxes receivable, net 6,760 (15,758 ) — 10,253 1,255 Excess tax benefits from equity-based payment arrangements (1,459 ) — — — (1,459 ) Funding of qualified pension plans (3,179 ) — — — (3,179 ) Other, net (703 ) (1,023 ) — — (1,726 ) Net cash flows from operating activities 73,210 (8,019 ) — 22,719 87,910 CASH FLOWS FROM INVESTING ACTIVITIES Changes in short-term investments, net (10,000 ) — — — (10,000 ) Additions to plant and equipment (52,526 ) (3,012 ) — — (55,538 ) Proceeds from the sale of assets — 507 — — 507 Net cash flows from investing activities (62,526 ) (2,505 ) — — (65,031 ) CASH FLOWS FROM FINANCING ACTIVITIES Purchase of treasury stock (37,148 ) — — — (37,148 ) Investment from parent 12,195 10,524 — (22,719 ) — Payment of tax withholdings on equity- based payment arrangements (3,048 ) — — — (3,048 ) Excess tax benefits from equity-based payment arrangements 1,459 — — — 1,459 Other, net (8 ) — — — (8 ) Net cash flows from financing activities (26,550 ) 10,524 — (22,719 ) (38,745 ) Decrease in cash (15,866 ) — — — (15,866 ) Cash at beginning of period 27,331 — — — 27,331 Cash at end of period $ 11,465 $ — $ — $ — $ 11,465 Clearwater Paper Corporation Consolidating Statement of Cash Flows Six Months Ended June 30, 2014 (In thousands) Issuer Guarantor Subsidiaries Non-Guarantor Subsidiary Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES Net earnings (loss) $ 14,943 $ (15,531 ) $ 444 $ 18,823 $ 18,679 Adjustments to reconcile net earnings (loss) to net cash flows from operating activities: Depreciation and amortization 28,559 14,515 1,172 — 44,246 Equity-based compensation expense 6,910 — — — 6,910 Impairment of assets — 4,259 — — 4,259 Deferred tax provision (benefit) 29,648 (8,390 ) 15 (11,416 ) 9,857 Employee benefit plans 979 — — — 979 Deferred issuance costs and discounts on long-term debt 949 — — — 949 Disposal of plant and equipment, net 204 218 — — 422 Changes in working capital, net 10,145 7,089 (2,416 ) — 14,818 Changes in taxes receivable, net (2,946 ) (12,628 ) 55 19,182 3,663 Funding of qualified pension plans (8,889 ) — — — (8,889 ) Other, net (831 ) (151 ) 2 — (980 ) Net cash flows from operating activities 79,671 (10,619 ) (728 ) 26,589 94,913 CASH FLOWS FROM INVESTING ACTIVITIES Changes in short-term investments, net 11,000 — — — 11,000 Additions to plant and equipment (24,994 ) (7,500 ) (118 ) — (32,612 ) Proceeds from sale of assets 38 581 — — 619 Net cash flows from investing activities (13,956 ) (6,919 ) (118 ) — (20,993 ) CASH FLOWS FROM FINANCING ACTIVITIES Purchase of treasury stock (74,322 ) — — — (74,322 ) Investment from (to) parent 9,969 17,538 (918 ) (26,589 ) — Payment of tax withholdings on equity- based payment arrangements (792 ) — — — (792 ) Net cash flows from financing activities (65,145 ) 17,538 (918 ) (26,589 ) (75,114 ) Increase (decrease) in cash 570 — (1,764 ) — (1,194 ) Cash at beginning of period 18,273 — 5,402 — 23,675 Cash at end of period $ 18,843 $ — $ 3,638 $ — $ 22,481

Nature of Operations and Basi23

Nature of Operations and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SIGNIFICANT ESTIMATES	SIGNIFICANT ESTIMATES The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. Significant areas requiring the use of estimates and measurement of uncertainty include determination of net realizable value for deferred tax assets, uncertain tax positions, assessment of impairment of long-lived assets, goodwill and intangibles, assessment of environmental matters, equity-based compensation and pension and postretirement obligation assumptions. Actual results could differ from those estimates and assumptions.
RESTRICTED CASH AND SHORT-TERM INVESTMENTS	SHORT-TERM INVESTMENTS AND RESTRICTED CASH Our short-term investments are invested primarily in demand deposits, which have very short maturity periods, and therefore earn an interest rate commensurate with low-risk instruments. We do not attempt to hedge our exposure to interest rate risk for our short-term investments. Our restricted cash in which the underlying instrument has a term of greater than twelve months from the balance sheet date is classified as non-current and is included in “Other assets, net” on our Consolidated Balance Sheet. As of June 30, 2015 , we had $2.3 million classified as current on our Consolidated Balance Sheet. As of December 31, 2014 , we had $1.5 million of restricted cash classified as current and $2.3 million of restricted cash classified as non-current and included in "Other assets, net" on our Consolidated Balance Sheets.
TRADE ACCOUNTS RECEIVABLE	TRADE ACCOUNTS RECEIVABLE Trade accounts receivable are stated at the amount we expect to collect. Trade accounts receivable do not bear interest. The allowance for doubtful accounts is our best estimate of the losses we expect will result from the inability of our customers to make required payments. We generally determine the allowance based on a combination of actual historical write-off experience and an analysis of specific customer accounts. As of both June 30, 2015 and December 31, 2014 , we had allowances for doubtful accounts of $1.4 million .
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are stated at cost, including any interest costs capitalized, less accumulated depreciation. Depreciation of buildings, equipment and other depreciable assets is determined using the straight-line method. Assets we acquire through business combinations have estimated lives that are typically shorter than the assets we construct or buy new. Accumulated depreciation totaled $1,485.3 million and $1,450.1 million at June 30, 2015 and December 31, 2014 , respectively. Consistent with authoritative guidance, we assess the carrying amount of long-lived assets with definite lives that are held-for-use and evaluate them for recoverability whenever events or changes in circumstances indicate that we may be unable to recover the carrying amount of the assets. During the first quarter of 2014, we permanently closed our Long Island tissue converting and distribution facility. As a result of this closure, we considered an outside third party's appraisal in assessing the recoverability of the facility's long-lived plant and equipment based on available market data for comparable assets sold through private party transactions. Based on this assessment, we determined the carrying amounts of certain long-lived plant and equipment related to the Long Island facility exceeded their fair value. As a result, we recorded a $3.0 million non-cash impairment charge to our accompanying Consolidated Statement of Operations for the six months ended June 30, 2014 . There were no other such events or changes in circumstances that impacted our remaining long-lived assets.
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY On December 15, 2014, we announced that our Board of Directors had approved a new stock repurchase program authorizing the repurchase of up to $100 million of our common stock. The repurchase program authorizes purchases of our common stock from time to time through open market purchases, negotiated transactions or other means, including accelerated stock repurchases and 10b5-1 trading plans in accordance with applicable securities laws and other restrictions. We have no obligation to repurchase stock under this program and may suspend or terminate the program at any time. We have repurchased 599,495 shares of our outstanding common stock at an average price of $61.97 per share under this program. As of June 30, 2015 , we had up to $62.9 million of authorization remaining pursuant to this stock repurchase program. On February 5, 2014, we announced that our Board of Directors had approved a stock repurchase program authorizing the repurchase of up to $100 million of our common stock. We completed that program during the third quarter of 2014. In total, we repurchased 1,574,748 shares of our outstanding common stock at an average price of $63.50 per share under that program.
DERIVATIVES	DERIVATIVES We had no activity during the six months ended June 30, 2015 and 2014 that required hedge or derivative accounting treatment. However, to help mitigate our exposure to market risk for changes in utility commodity pricing, we use firm price contracts to supply a portion of the natural gas requirements for our manufacturing facilities. As of June 30, 2015 , these contracts covered approximately 58% of our expected average monthly natural gas requirements for the remainder of 2015. Historically, these contracts have qualified for treatment as “normal purchases or normal sales” under authoritative guidance and thus required no mark-to-market adjustment.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories at the balance sheet dates consist of: (In thousands) June 30, 2015 December 31, 2014 Pulp, paperboard and tissue products $ 161,304 $ 188,760 Materials and supplies 74,439 74,916 Logs, pulpwood, chips and sawdust 12,537 22,950 $ 248,280 $ 286,626

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Finite-Lived Intangible Assets, Net [Abstract]
Intangible Assets	Intangible assets at the balance sheet dates are comprised of the following: June 30, 2015 (Dollars in thousands, lives in years) Useful Life Historical Cost Accumulated Amortization Net Balance Customer relationships 9.0 $ 41,001 $ (20,500 ) $ 20,501 Trade names and trademarks 10.0 3,286 (1,479 ) 1,807 Non-compete agreements 5.0 574 (409 ) 165 $ 44,861 $ (22,388 ) $ 22,473 December 31, 2014 (Dollars in thousands, lives in years) Useful Life Historical Cost Accumulated Amortization Net Balance Customer relationships 9.0 $ 41,001 $ (18,223 ) $ 22,778 Trade names and trademarks 10.0 3,286 (1,314 ) 1,972 Non-compete agreements 5.0 1,189 (983 ) 206 $ 45,476 $ (20,520 ) $ 24,956

Taxes (Tables)

Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	For the three and six months ended June 30, 2015 and 2014 , the effective tax rates attributable to continuing operations were as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Statutory federal income tax rate 35.0 % 35.0 % 35.0 % 35.0 % State taxes, net of credits 2.2 0.9 2.2 0.9 Change in valuation allowances 0.9 1.6 0.9 2.5 Federal manufacturing deduction (3.1 ) (1.7 ) (3.1 ) (1.7 ) Change in uncertain tax positions — — (3.1 ) — Interest accrued on uncertain tax positions — 0.1 0.1 0.1 Federal credits and audit adjustments (0.4 ) (0.1 ) (0.4 ) (1.4 ) State rate adjustments — 4.6 — 3.2 Return to provision adjustments — 4.1 (0.1 ) 3.1 Other 1.2 (0.1 ) 1.3 0.3 Effective tax rate 35.8 % 44.4 % 32.8 % 42.0 %

Accounts Payable and Accrued 27

Accounts Payable and Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities at the balance sheet dates consist of: (In thousands) June 30, 2015 December 31, 2014 Trade accounts payable $ 122,918 $ 122,856 Accrued wages, salaries and employee benefits 37,842 41,880 Accrued interest 11,932 12,173 Accrued discounts and allowances 11,510 10,026 Accrued utilities 6,417 6,959 Accrued taxes other than income taxes payable 5,950 5,622 Other 18,132 16,310 $ 214,701 $ 215,826

Other Long-Term Obligations (Ta

Other Long-Term Obligations (Tables)	6 Months Ended
	Jun. 30, 2015
Other Liabilities, Noncurrent [Abstract]
Other Long-Term Obligations	Other long-term obligations at the balance sheet dates consist of: (In thousands) June 30, 2015 December 31, 2014 Long-term lease obligations, net of current portion $ 24,437 $ 24,805 Deferred compensation 12,888 14,609 Deferred proceeds 10,883 12,360 Other 2,571 5,082 $ 50,779 $ 56,856

Reclassification out of Accum29

Reclassification out of Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Accumulated other comprehensive loss, net of tax, is comprised of the following: (In thousands) Foreign Currency Translation Adjustments 1 Pension and Other Post Retirement Employee Benefit Plan Adjustments Total Balance at December 31, 2014 $ — $ (70,863 ) $ (70,863 ) Other comprehensive income, net of tax 2 — 3,201 3,201 Balance at June 30, 2015 $ — $ (67,662 ) $ (67,662 ) (In thousands) Foreign Currency Translation Adjustments 1 Pension and Other Post Retirement Employee Benefit Plan Adjustments Total Balance at December 31, 2013 $ (874 ) $ (57,219 ) $ (58,093 ) Other comprehensive income, net of tax 2 — 2,404 2,404 Balance at June 30, 2014 $ (874 ) $ (54,815 ) $ (55,689 ) 1 This balance consists of unrealized foreign currency translation adjustments related to the operations of our Canadian subsidiary before its functional currency was changed from Canadian dollars to U.S. dollars in 2012. As a result of the divestiture of the specialty business and mills, this balance was written off in the fourth quarter of 2014. 2 For the six months ended June 30, 2015 and 2014 , net periodic costs associated with our pension and other postretirement employee benefit, or OPEB, plans included in other comprehensive income and reclassified from accumulated other comprehensive loss included $6.3 million and $4.9 million , respectively, of actuarial loss amortization, as well as $1.1 million and $1.0 million , respectively, of prior service credit amortization, all net of tax totaling $2.1 million and $1.5 million , respectively. These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs in Note 10, “Pension and Other Postretirement Employee Benefit Plans.”

Pension and Other Postretirem30

Pension and Other Postretirement Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [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 OPEB plans for the periods presented: Three Months Ended June 30, (In thousands) 2015 2014 2015 2014 Pension Benefit Plans Other Postretirement Employee Benefit Plans Service cost $ 307 $ 340 $ 33 $ 109 Interest cost 3,475 3,724 892 980 Expected return on plan assets (5,074 ) (5,083 ) — — Amortization of prior service cost (credit) 18 51 (543 ) (963 ) Amortization of actuarial loss (gain) 3,226 2,555 — (142 ) Net periodic cost (benefit) $ 1,952 $ 1,587 $ 382 $ (16 ) Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Pension Benefit Plans Other Postretirement Employee Benefit Plans Service cost $ 623 $ 695 $ 181 $ 226 Interest cost 6,965 7,412 1,940 2,282 Expected return on plan assets (10,058 ) (10,098 ) — — Amortization of prior service cost (credit) 36 103 (1,088 ) (1,089 ) Amortization of actuarial loss (gain) 6,309 5,049 — (142 ) Net periodic cost $ 3,875 $ 3,161 $ 1,033 $ 1,277

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Reconciliation of Number of Common Shares Used in Calculating Basic and Diluted Net Earnings per Share	The following table reconciles the number of common shares used in calculating the basic and diluted net earnings per share: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Basic average common shares outstanding 1 19,081,848 20,256,137 19,205,254 20,614,305 Incremental shares due to: Restricted stock units 93,459 78,508 74,324 73,692 Performance shares 118,868 182,026 104,330 181,612 Stock options 79 — 459 — Diluted average common shares outstanding 19,294,254 20,516,671 19,384,367 20,869,609 Basic net earnings per common share $ 0.82 $ 0.61 $ 1.11 $ 0.91 Diluted net earnings per common share 0.81 0.61 1.10 0.90 Anti-dilutive shares excluded from calculation 265,149 210,771 326,085 248,429 1 Basic average common shares outstanding include restricted stock awards that are fully vested, but are deferred for future issuance.

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Equity-Based Compensation Expense	Employee equity-based compensation expense was recognized as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Restricted stock units $ 552 $ 587 $ 963 $ 1,032 Performance shares 1,164 1,474 2,043 2,555 Stock options 592 407 941 543 Total employee equity-based compensation $ 2,308 $ 2,468 $ 3,947 $ 4,130
Summary of Number of Share-Based Awards Granted	The following table summarizes the number of share-based awards granted under the Clearwater Paper Corporation 2008 Stock Incentive Plan during the six months ended June 30, 2015 and the grant-date fair value of the awards: Six Months Ended June 30, 2015 Number of Shares Subject to Award Average Fair Value of Award Per Share Restricted stock units 23,148 $ 62.02 Performance shares 47,513 62.05 Stock options 142,542 20.82

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Estimated Fair Values of Financial Instruments	The estimated fair values of our financial instruments at the dates presented below are as follows: June 30, December 31, 2015 2014 Carrying Fair Carrying Fair (In thousands) Amount Value Amount Value Cash, restricted cash and short-term investments (Level 1) $ 73,735 $ 73,735 $ 81,101 $ 81,101 Long-term debt (Level 1) 575,000 558,875 575,000 558,000

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Reportable Segments Information	The table below presents information about our reportable segments: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2015 2014 2015 2014 Segment net sales: Consumer Products $ 239,391 $ 299,130 $ 474,567 $ 585,638 Pulp and Paperboard 205,167 199,629 404,017 398,041 Total segment net sales $ 444,558 $ 498,759 $ 878,584 $ 983,679 Operating income (loss): Consumer Products $ 17,032 $ 12,705 $ 29,427 $ 12,182 Pulp and Paperboard 27,754 33,635 43,948 70,411 44,786 46,340 73,375 82,593 Corporate (12,713 ) (13,257 ) (26,065 ) (28,992 ) Income from operations $ 32,073 $ 33,083 $ 47,310 $ 53,601 Depreciation and amortization: Consumer Products $ 13,438 $ 15,071 $ 26,415 $ 30,561 Pulp and Paperboard 6,737 6,019 14,048 12,289 Corporate 457 925 1,177 1,396 Total depreciation and amortization $ 20,632 $ 22,015 $ 41,640 $ 44,246

Supplemental Guarantor Financ35

Supplemental Guarantor Financial Information (Tables)	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)	Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2015 Guarantor Non-Guarantor (In thousands) Issuer Subsidiaries Subsidiary Eliminations Total Net sales $ 401,444 $ 70,271 $ — $ (27,157 ) $ 444,558 Cost and expenses: Cost of sales (342,714 ) (68,790 ) — 27,157 (384,347 ) Selling, general and administrative expenses (25,431 ) (2,707 ) — — (28,138 ) Total operating costs and expenses (368,145 ) (71,497 ) — 27,157 (412,485 ) Income (loss) from operations 33,299 (1,226 ) — — 32,073 Interest expense, net (7,715 ) (59 ) — — (7,774 ) Earnings (loss) before income taxes 25,584 (1,285 ) — — 24,299 Income tax provision (9,681 ) (841 ) — 1,820 (8,702 ) Equity in loss of subsidiary (2,126 ) — — 2,126 — Net earnings (loss) $ 13,777 $ (2,126 ) $ — $ 3,946 $ 15,597 Other comprehensive income, net of tax 1,644 — — — 1,644 Comprehensive income (loss) $ 15,421 $ (2,126 ) $ — $ 3,946 $ 17,241 Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2015 Guarantor Non-Guarantor (In thousands) Issuer Subsidiaries Subsidiaries Eliminations Total Net sales $ 796,831 $ 143,599 $ — $ (61,846 ) $ 878,584 Cost and expenses: Cost of sales (693,760 ) (142,265 ) — 61,846 (774,179 ) Selling, general and administrative expenses (50,219 ) (6,876 ) — — (57,095 ) Total operating costs and expenses (743,979 ) (149,141 ) — 61,846 (831,274 ) Income (loss) from operations 52,852 (5,542 ) — — 47,310 Interest expense, net (15,482 ) (74 ) — — (15,556 ) Earnings (loss) before income taxes 37,370 (5,616 ) — — 31,754 Income tax provision (12,909 ) (1,183 ) — 3,692 (10,400 ) Equity in loss of subsidiary (6,799 ) — — 6,799 — Net earnings (loss) $ 17,662 $ (6,799 ) $ — $ 10,491 $ 21,354 Other comprehensive income, net of tax 3,201 — — — 3,201 Comprehensive income (loss) $ 20,863 $ (6,799 ) $ — $ 10,491 $ 24,555 Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended June 30, 2014 Guarantor Non-Guarantor (In thousands) Issuer Subsidiaries Subsidiary Eliminations Total Net sales $ 401,866 $ 133,972 $ 14,180 $ (51,259 ) $ 498,759 Cost and expenses: Cost of sales (341,902 ) (131,114 ) (12,354 ) 51,259 (434,111 ) Selling, general and administrative expenses (25,907 ) (5,320 ) (338 ) — (31,565 ) Total operating costs and expenses (367,809 ) (136,434 ) (12,692 ) 51,259 (465,676 ) Income (loss) from operations 34,057 (2,462 ) 1,488 — 33,083 Interest expense, net (10,681 ) (7 ) — — (10,688 ) Earnings (loss) before income taxes 23,376 (2,469 ) 1,488 — 22,395 Income tax provision (7,272 ) (5,675 ) (390 ) 3,395 (9,942 ) Equity in (loss) income of subsidiary (7,046 ) 1,098 — 5,948 — Net earnings (loss) $ 9,058 $ (7,046 ) $ 1,098 $ 9,343 $ 12,453 Other comprehensive income, net of tax 920 — — — 920 Comprehensive income (loss) $ 9,978 $ (7,046 ) $ 1,098 $ 9,343 $ 13,373 Clearwater Paper Corporation Consolidating Statement of Operations and Comprehensive Income (Loss) Six Months Ended June 30, 2014 Guarantor Non-Guarantor (In thousands) Issuer Subsidiaries Subsidiaries Eliminations Total Net sales $ 786,487 $ 272,645 $ 27,064 $ (102,517 ) $ 983,679 Cost and expenses: Cost of sales (660,294 ) (277,203 ) (25,760 ) 102,517 (860,740 ) Selling, general and administrative expenses (53,566 ) (10,837 ) (676 ) — (65,079 ) Impairment of assets — (4,259 ) — — (4,259 ) Total operating costs and expenses (713,860 ) (292,299 ) (26,436 ) 102,517 (930,078 ) Income (loss) from operations 72,627 (19,654 ) 628 — 53,601 Interest expense, net (21,404 ) (18 ) — — (21,422 ) Earnings (loss) before income taxes 51,223 (19,672 ) 628 — 32,179 Income tax (provision) benefit (20,749 ) 3,697 (184 ) 3,736 (13,500 ) Equity in (loss) earnings of subsidiary (15,531 ) 444 — 15,087 — Net earnings (loss) $ 14,943 $ (15,531 ) $ 444 $ 18,823 $ 18,679 Other comprehensive income, net of tax 2,404 — — — 2,404 Comprehensive income (loss) $ 17,347 $ (15,531 ) $ 444 $ 18,823 $ 21,083
Condensed Consolidating Balance Sheet	Clearwater Paper Corporation Consolidating Balance Sheet At June 30, 2015 (In thousands) Issuer Guarantor Subsidiaries Non-Guarantor Subsidiary Eliminations Total ASSETS Current assets: Cash $ 11,465 $ — $ — $ — $ 11,465 Restricted cash 2,270 — — — 2,270 Short-term investments 60,000 — — — 60,000 Receivables, net 124,051 17,444 — (405 ) 141,090 Inventories 212,773 35,507 — — 248,280 Deferred tax assets 18,273 2,720 — (154 ) 20,839 Prepaid expenses 7,397 472 — — 7,869 Total current assets 436,229 56,143 — (559 ) 491,813 Property, plant and equipment, net 675,758 147,914 — — 823,672 Goodwill 209,087 — — — 209,087 Intangible assets, net 4,702 17,771 — — 22,473 Intercompany receivable (payable) 31,877 (32,031 ) — 154 — Investment in subsidiary 130,483 — — (130,483 ) — Pension assets 8,098 — — — 8,098 Other assets, net 6,352 1,042 — — 7,394 TOTAL ASSETS $ 1,502,586 $ 190,839 $ — $ (130,888 ) $ 1,562,537 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 191,723 $ 23,383 $ — $ (405 ) $ 214,701 Current liability for pensions and other postretirement employee benefits 7,915 — — — 7,915 Total current liabilities 199,638 23,383 — (405 ) 222,616 Long-term debt 575,000 — — — 575,000 Liability for pensions and other postretirement employee benefits 114,835 — — — 114,835 Other long-term obligations 50,078 701 — — 50,779 Accrued taxes 925 792 — — 1,717 Deferred tax liabilities 74,809 35,480 — — 110,289 Accumulated other comprehensive loss, net of tax (67,662 ) — — — (67,662 ) Stockholders’ equity excluding accumulated other comprehensive loss 554,963 130,483 — (130,483 ) 554,963 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,502,586 $ 190,839 $ — $ (130,888 ) $ 1,562,537 Clearwater Paper Corporation Consolidating Balance Sheet At December 31, 2014 (In thousands) Issuer Guarantor Subsidiaries Non-Guarantor Subsidiary Eliminations Total ASSETS Current assets: Cash $ 27,331 $ — $ — $ — $ 27,331 Restricted cash 1,500 — — — 1,500 Short-term investments 50,000 — — — 50,000 Receivables, net 117,970 16,557 — (613 ) 133,914 Taxes receivable 6,760 (15,758 ) — 10,253 1,255 Inventories 246,210 40,416 — — 286,626 Deferred tax assets 14,733 5,206 — 1,821 21,760 Prepaid expenses 3,734 457 — — 4,191 Total current assets 468,238 46,878 — 11,461 526,577 Property, plant and equipment, net 657,369 153,618 — — 810,987 Goodwill 209,087 — — — 209,087 Intangible assets, net 5,224 19,732 — — 24,956 Intercompany receivable (payable) 33,703 (21,629 ) — (12,074 ) — Investment in subsidiary 137,282 — — (137,282 ) — Pension assets 4,738 — — — 4,738 Other assets, net 8,496 1,087 — — 9,583 TOTAL ASSETS $ 1,524,137 $ 199,686 $ — $ (137,895 ) $ 1,585,928 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 193,326 $ 23,113 $ — $ (613 ) $ 215,826 Current liability for pensions and other postretirement employee benefits 7,915 — — — 7,915 Total current liabilities 201,241 23,113 — (613 ) 223,741 Long-term debt 575,000 — — — 575,000 Liability for pensions and other postretirement employee benefits 118,464 — — — 118,464 Other long-term obligations 56,029 827 — — 56,856 Accrued taxes 1,902 794 — — 2,696 Deferred tax liabilities 73,964 37,670 — — 111,634 Accumulated other comprehensive loss, net of tax (70,863 ) — — — (70,863 ) Stockholders’ equity excluding accumulated other comprehensive loss 568,400 137,282 — (137,282 ) 568,400 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,524,137 $ 199,686 $ — $ (137,895 ) $ 1,585,928
Condensed Consolidating Statement of Cash Flows	Clearwater Paper Corporation Consolidating Statement of Cash Flows Six Months Ended June 30, 2015 (In thousands) Issuer Guarantor Subsidiaries Non-Guarantor Subsidiary Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES Net earnings (loss) $ 17,662 $ (6,799 ) $ — $ 10,491 $ 21,354 Adjustments to reconcile net earnings (loss) to net cash flows from operating activities: Depreciation and amortization 31,792 9,848 — — 41,640 Equity-based compensation expense 2,019 — — — 2,019 Deferred tax (benefit) provision (4,751 ) 296 — 1,975 (2,480 ) Employee benefit plans 1,438 — — — 1,438 Deferred issuance costs and discounts on long-term debt 446 — — — 446 Disposal of plant and equipment, net 303 (31 ) — — 272 Non-cash adjustments to unrecognized taxes (977 ) (2 ) — — (979 ) Changes in working capital, net 23,859 5,450 — — 29,309 Changes in taxes receivable, net 6,760 (15,758 ) — 10,253 1,255 Excess tax benefits from equity-based payment arrangements (1,459 ) — — — (1,459 ) Funding of qualified pension plans (3,179 ) — — — (3,179 ) Other, net (703 ) (1,023 ) — — (1,726 ) Net cash flows from operating activities 73,210 (8,019 ) — 22,719 87,910 CASH FLOWS FROM INVESTING ACTIVITIES Changes in short-term investments, net (10,000 ) — — — (10,000 ) Additions to plant and equipment (52,526 ) (3,012 ) — — (55,538 ) Proceeds from the sale of assets — 507 — — 507 Net cash flows from investing activities (62,526 ) (2,505 ) — — (65,031 ) CASH FLOWS FROM FINANCING ACTIVITIES Purchase of treasury stock (37,148 ) — — — (37,148 ) Investment from parent 12,195 10,524 — (22,719 ) — Payment of tax withholdings on equity- based payment arrangements (3,048 ) — — — (3,048 ) Excess tax benefits from equity-based payment arrangements 1,459 — — — 1,459 Other, net (8 ) — — — (8 ) Net cash flows from financing activities (26,550 ) 10,524 — (22,719 ) (38,745 ) Decrease in cash (15,866 ) — — — (15,866 ) Cash at beginning of period 27,331 — — — 27,331 Cash at end of period $ 11,465 $ — $ — $ — $ 11,465 Clearwater Paper Corporation Consolidating Statement of Cash Flows Six Months Ended June 30, 2014 (In thousands) Issuer Guarantor Subsidiaries Non-Guarantor Subsidiary Eliminations Total CASH FLOWS FROM OPERATING ACTIVITIES Net earnings (loss) $ 14,943 $ (15,531 ) $ 444 $ 18,823 $ 18,679 Adjustments to reconcile net earnings (loss) to net cash flows from operating activities: Depreciation and amortization 28,559 14,515 1,172 — 44,246 Equity-based compensation expense 6,910 — — — 6,910 Impairment of assets — 4,259 — — 4,259 Deferred tax provision (benefit) 29,648 (8,390 ) 15 (11,416 ) 9,857 Employee benefit plans 979 — — — 979 Deferred issuance costs and discounts on long-term debt 949 — — — 949 Disposal of plant and equipment, net 204 218 — — 422 Changes in working capital, net 10,145 7,089 (2,416 ) — 14,818 Changes in taxes receivable, net (2,946 ) (12,628 ) 55 19,182 3,663 Funding of qualified pension plans (8,889 ) — — — (8,889 ) Other, net (831 ) (151 ) 2 — (980 ) Net cash flows from operating activities 79,671 (10,619 ) (728 ) 26,589 94,913 CASH FLOWS FROM INVESTING ACTIVITIES Changes in short-term investments, net 11,000 — — — 11,000 Additions to plant and equipment (24,994 ) (7,500 ) (118 ) — (32,612 ) Proceeds from sale of assets 38 581 — — 619 Net cash flows from investing activities (13,956 ) (6,919 ) (118 ) — (20,993 ) CASH FLOWS FROM FINANCING ACTIVITIES Purchase of treasury stock (74,322 ) — — — (74,322 ) Investment from (to) parent 9,969 17,538 (918 ) (26,589 ) — Payment of tax withholdings on equity- based payment arrangements (792 ) — — — (792 ) Net cash flows from financing activities (65,145 ) 17,538 (918 ) (26,589 ) (75,114 ) Increase (decrease) in cash 570 — (1,764 ) — (1,194 ) Cash at beginning of period 18,273 — 5,402 — 23,675 Cash at end of period $ 18,843 $ — $ 3,638 $ — $ 22,481

Nature of Operations and Basi36

Nature of Operations and Basis of Presentation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 30, 2014	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2014	Jun. 30, 2015	Dec. 31, 2014	Dec. 15, 2014	Feb. 05, 2014
Nature of Operations
Proceeds from Divestiture of Businesses	$ 107,740
Restricted Cash and Cash Equivalents							$ 3,800
Other Nonrecurring Gain		$ 1,500
Restricted Cash and Cash Equivalents, Current		2,270	$ 2,270			$ 2,270	1,500
Allowance for doubtful accounts		1,400	1,400			1,400	1,400
Accumulated depreciation		$ 1,485,300	$ 1,485,300			$ 1,485,300	1,450,100
Impairment of Long-Lived Assets Held-for-use				$ 3,000
Percentage Of Expected Natural Gas Requirement Covered Under Contract		58.00%	58.00%			58.00%
Common Stock
Nature of Operations
Common stock repurchase authorized								$ 100,000	$ 100,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 62,900	$ 62,900			$ 62,900
Common Stock | Open Market Share Repurchase
Nature of Operations
Number of shares repurchased (in shares)			599,495		1,574,748
Treasury Stock Acquired, Average Cost Per Share			$ 61.97		$ 63.50
Other Assets [Member]
Nature of Operations
Restricted Cash and Cash Equivalents, Noncurrent							$ 2,300
Long Island, New York Facility
Nature of Operations
Other Nonrecurring Expense, Planned Permaent Facility Closure		$ 700	$ 1,300			$ 20,100

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Pulp, paperboard and tissue products	$ 161,304	$ 188,760
Materials and supplies	74,439	74,916
Logs, pulpwood, chips and sawdust	12,537	22,950
Inventories	$ 248,280	$ 286,626

Intangible Assets (Detail)

Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2014	Jun. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Historical Cost		$ 44,861	$ 45,476
Accumulated Amortization		(22,388)	(20,520)
Net Balance		$ 22,473	$ 24,956
Impairment of Intangible Assets, Finite-lived	$ 1,300
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful Life		9 years	9 years
Historical Cost		$ 41,001	$ 41,001
Accumulated Amortization		(20,500)	(18,223)
Net Balance		$ 20,501	$ 22,778
Tradenames and trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life		10 years	10 years
Historical Cost		$ 3,286	$ 3,286
Accumulated Amortization		(1,479)	(1,314)
Net Balance		$ 1,807	$ 1,972
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Useful Life		5 years	5 years
Historical Cost		$ 574	$ 1,189
Accumulated Amortization		(409)	(983)
Net Balance		$ 165	$ 206

Taxes - Additional Information

Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	35.00%	35.00%	35.00%	35.00%
State taxes, net of credits	2.20%	0.90%	2.20%	0.90%
Change in valuation allowances	0.90%	1.60%	0.90%	2.50%
Federal manufacturing deduction	(3.10%)	(1.70%)	(3.10%)	(1.70%)
Increase in uncertain tax position	0.00%	0.00%	(3.10%)	0.00%
Interest accrued on uncertain tax positions	0.00%	0.10%	0.10%	0.10%
Other Federal Credits	(0.40%)	(0.10%)	(0.40%)	(1.40%)
State rate adjustments	0.00%	4.60%	0.00%	3.20%
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent	0.00%	4.10%	(0.10%)	3.10%
Other	1.20%	(0.10%)	1.30%	0.30%
Effective tax rate	35.80%	44.40%	32.80%	42.00%
Estimated Annual Effective Tax Rate	35.00%	35.00%
Deferred Tax Assets, State Taxes		$ 2.9		$ 2.9
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent, Amended Returns		7.40%
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent, Other State Tax Benefit (Expenses)		3.30%

Accounts Payable and Accrued 40

Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts Payable and Accrued Liabilities [Abstract]
Trade accounts payable	$ 122,918	$ 122,856
Accrued wages, salaries and employee benefits	37,842	41,880
Accrued discounts and allowances	11,510	10,026
Accrued taxes other than income taxes payable	5,950	5,622
Accrued utilities	6,417	6,959
Accrued interest	11,932	12,173
Other	18,132	16,310
Accounts payable and accrued liabilities	$ 214,701	$ 215,826

Debt - Additional Information (

Debt - Additional Information (Detail)	Jun. 30, 2015USD ($)	Jul. 29, 2014USD ($)	Jan. 23, 2013	Nov. 26, 2008USD ($)	Jan. 21, 2013USD ($)
Senior Notes Due 2025
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 300,000,000
Debt Instrument, Maturity Date		Feb. 1, 2025
Debt instrument, interest rate		5.375%
Senior Notes Due 2023
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 275,000,000
Debt Instrument, Maturity Date			Feb. 1, 2023
Debt instrument, interest rate					4.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 125,000,000			$ 125,000,000
Amount available as percentage of eligible accounts receivable	85.00%
Amount available as percentage of eligible inventories	65.00%
Line of Credit Facility, Expiration Date				Sep. 30, 2016
Outstanding stand by letters of credit	$ 6,200,000
Credit facility available to draw	$ 118,800,000
Percentage of availability triggers covenant requirement under credit facility	12.50%
Debt covenant, actual fixed charge ratio	1.1
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Debt covenant, actual fixed charge ratio	1
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Interest rate spread	1.75%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Interest rate spread	2.25%
Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Interest rate spread	1.25%
Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Interest rate spread	1.75%
Revolving Credit Facility | Federal Fund Rate | Maximum
Debt Instrument [Line Items]
Interest rate spread	0.50%

Other Long-Term Obligations (De

Other Long-Term Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Other Liabilities, Noncurrent [Abstract]
Long-term lease obligations, net of current portion	$ 24,437	$ 24,805
Deferred proceeds	10,883	12,360
Deferred compensation	12,888	14,609
Other	2,571	5,082
Other long-term obligations	$ 50,779	$ 56,856

Reclassification out of Accum43

Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Period opening balance				$ (70,863)		$ (58,093)
Net current period other comprehensive income ending balance		$ 1,644	$ 920	3,201	[1]	2,404	[1]
Period closing balance		(67,662)	(55,689)	(67,662)		(55,689)
Amortization of actuarial loss included in net periodic cost, before tax				(6,300)		(4,900)
Other Comprehensive (Income) Loss, Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service Cost (Credit), before Tax				1,100		1,000
Other comprehensive income (loss), tax				2,100		1,500
Foreign Currency Translation Adjustments
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Period opening balance	[2]			0		(874)
Net current period other comprehensive income ending balance	[1],[2]			0		0
Period closing balance	[2]	0	(874)	0		(874)
Defined Benefit Pension Plan Adjustments
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Period opening balance				(70,863)		(57,219)
Net current period other comprehensive income ending balance	[1]			3,201		2,404
Period closing balance		$ (67,662)	$ (54,815)	$ (67,662)		$ (54,815)
[1]	For the six months ended June 30, 2015 and 2014, net periodic costs associated with our pension and other postretirement employee benefit, or OPEB, plans included in other comprehensive income and reclassified from accumulated other comprehensive loss included $6.3 million and $4.9 million, respectively, of actuarial loss amortization, as well as $1.1 million and $1.0 million, respectively, of prior service credit amortization, all net of tax totaling $2.1 million and $1.5 million, respectively. These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs in Note 10, “Pension and Other Postretirement Employee Benefit Plans.”
[2]	This balance consists of unrealized foreign currency translation adjustments related to the operations of our Canadian subsidiary before its functional currency was changed from Canadian dollars to U.S. dollars in 2012. As a result of the divestiture of the specialty business and mills, this balance was written off in the fourth quarter of 2014.

Pension and Other Postretirem44

Pension and Other Postretirement Employee Benefit Plans - Additional Information (Detail 1) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Company-Sponsored Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution			$ 3.2
Non Qualified Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Employer contribution			0.2
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year			0.4
Cost of Sales
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax	$ 1.6	$ 1	3.4	$ 3.3
Selling, General and Administrative Expenses
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax	$ 0.7	$ 0.6	$ 1.5	$ 1.1

Pension and Other Postretirem45

Pension and Other Postretirement Employee Benefit Plans Components of Net Periodic Cost of Pension and Other Postretirement Employee Benefit Plans (Detail 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Pension Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 307	$ 340	$ 623	$ 695
Interest cost	3,475	3,724	6,965	7,412
Expected return on plan assets	(5,074)	(5,083)	(10,058)	(10,098)
Amortization of prior service cost (credit)	18	51	36	103
Amortization of actuarial loss	3,226	2,555	6,309	5,049
Net periodic cost	1,952	1,587	3,875	3,161
Other Postretirement Employee Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	33	109	181	226
Interest cost	892	980	1,940	2,282
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	(543)	(963)	(1,088)	(1,089)
Amortization of actuarial loss	0	(142)	0	(142)
Net periodic cost	$ 382	$ (16)	$ 1,033	$ 1,277

Earnings per Common Share Recon

Earnings per Common Share Reconciliation of Number of Common Shares Used in Calculating Basic and Diluted Net Earnings Per Share (Detail) - $ / shares		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Basic average common shares outstanding	[1]	19,081,848	20,256,137	19,205,254	20,614,305
Incremental shares due to:
Restricted stock units		93,459	78,508	74,324	73,692
Performance shares		118,868	182,026	104,330	181,612
Incremental Common Shares Attributable to Stock Options		79	0	459	0
Diluted average common shares outstanding		19,294,254	20,516,671	19,384,367	20,869,609
Basic net earnings per common share (in dollars per share)		$ 0.82	$ 0.61	$ 1.11	$ 0.91
Diluted net earnings per common share (in dollars per share)		$ 0.81	$ 0.61	$ 1.10	$ 0.90
Anti-dilutive shares excluded from calculation		265,149	210,771	326,085	248,429
[1]	Basic average common shares outstanding include restricted stock awards that are fully vested, but are deferred for future issuance.

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 2,308	$ 2,468	$ 3,947	$ 4,130
Cash paid for minimum tax withholdings			$ 3,048	792
Options, Grants in Period, Gross			142,542
Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 20.82
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 1,164	1,474	$ 2,043	2,555
Equity Instruments Other than Options, Vested in Previous Period and Distributed in Current Period			137,775
Shares issued (in shares)			3,000,000
Share Based Compensation Arrangement By Share Based Payment Award Shares Settled As Percentage Of Outstanding Amount	106.90%		106.90%
Shares, Issued	97,921		97,921
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 552	587	$ 963	1,032
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	592	407	941	543
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost Reversal	1,500	$ 100	1,900
Share based compensation expense				$ 2,800
Deferred Compensation Share-based Arrangements, Liability, Classified, Noncurrent	$ 11,600		$ 11,600		$ 13,500
Deferred Compensation Cash-based Arrangements, Liability, Classified, Noncurrent					$ 1,400
Minimum | Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Outstanding Award As Percentage Of Shares Issued	0.00%		0.00%
Maximum | Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Outstanding Award As Percentage Of Shares Issued	200.00%		200.00%

Equity-Based Compensation Emplo

Equity-Based Compensation Employee Equity Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 2,308	$ 2,468	$ 3,947	$ 4,130
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	552	587	963	1,032
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	1,164	1,474	2,043	2,555
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense	$ 592	$ 407	$ 941	$ 543

Equity-Based Compensation Summa

Equity-Based Compensation Summary of Number of Share-Based Awards Granted (Detail) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, Grants in Period, Gross	142,542
Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 20.82
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based awards granted	47,513
Grant-date fair value of awards per share	$ 62.05
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based awards granted	23,148
Grant-date fair value of awards per share	$ 62.02

Fair Value Measurements Estimat

Fair Value Measurements Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash, restricted cash, and short-term investments (Level 1)	$ 73,735	$ 81,101
Long-term debt (Level 1)	558,875	558,000
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash, restricted cash, and short-term investments (Level 1)	73,735	81,101
Long-term debt (Level 1)	$ 575,000	$ 575,000

Segment Information Reportable

Segment Information Reportable Segments Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Net sales	$ 444,558	$ 498,759	$ 878,584	$ 983,679
Income from operations	32,073	33,083	47,310	53,601
Depreciation and amortization	20,632	22,015	41,640	44,246
Consumer Products
Segment Reporting Information [Line Items]
Net sales	239,391	299,130	474,567	585,638
Income from operations	17,032	12,705	29,427	12,182
Depreciation and amortization	13,438	15,071	26,415	30,561
Pulp and Paperboard
Segment Reporting Information [Line Items]
Net sales	205,167	199,629	404,017	398,041
Income from operations	27,754	33,635	43,948	70,411
Depreciation and amortization	6,737	6,019	14,048	12,289
Operating Segments
Segment Reporting Information [Line Items]
Income from operations	44,786	46,340	73,375	82,593
Corporate
Segment Reporting Information [Line Items]
Income from operations	(12,713)	(13,257)	(26,065)	(28,992)
Depreciation and amortization	$ 457	$ 925	$ 1,177	$ 1,396

Supplemental Guarantor Financ52

Supplemental Guarantor Financial Information Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015		Jun. 30, 2014
Condensed Financial Statements, Captions [Line Items]
Net sales	$ 444,558	$ 498,759	$ 878,584		$ 983,679
Cost and expenses:
Cost of sales	(384,347)	(434,111)	(774,179)		(860,740)
Selling, general and administrative expenses	(28,138)	(31,565)	(57,095)		(65,079)
Asset Impairment Charges	0	0	0		(4,259)
Total operating costs and expenses	(412,485)	(465,676)	(831,274)		(930,078)
Income (loss) from operations	32,073	33,083	47,310		53,601
Interest expense, net	(7,774)	(10,688)	(15,556)		(21,422)
Earnings (loss) before income taxes	24,299	22,395	31,754		32,179
Income tax (provision) benefit	(8,702)	(9,942)	(10,400)		(13,500)
Net earnings (loss)	15,597	12,453	21,354		18,679
Other comprehensive income, net of tax	1,644	920	3,201	[1]	2,404	[1]
Comprehensive income	17,241	13,373	24,555		21,083
Issuer
Condensed Financial Statements, Captions [Line Items]
Net sales	401,444	401,866	796,831		786,487
Cost and expenses:
Cost of sales	(342,714)	(341,902)	(693,760)		(660,294)
Selling, general and administrative expenses	(25,431)	(25,907)	(50,219)		(53,566)
Asset Impairment Charges					0
Total operating costs and expenses	(368,145)	(367,809)	(743,979)		(713,860)
Income (loss) from operations	33,299	34,057	52,852		72,627
Interest expense, net	(7,715)	(10,681)	(15,482)		(21,404)
Earnings (loss) before income taxes	25,584	23,376	37,370		51,223
Income tax (provision) benefit	(9,681)	(7,272)	(12,909)		(20,749)
Equity in income (loss) of subsidiary	(2,126)	(7,046)	(6,799)		(15,531)
Net earnings (loss)	13,777	9,058	17,662		14,943
Other comprehensive income, net of tax	1,644	920	3,201		2,404
Comprehensive income	15,421	9,978	20,863		17,347
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net sales	70,271	133,972	143,599		272,645
Cost and expenses:
Cost of sales	(68,790)	(131,114)	(142,265)		(277,203)
Selling, general and administrative expenses	(2,707)	(5,320)	(6,876)		(10,837)
Asset Impairment Charges					(4,259)
Total operating costs and expenses	(71,497)	(136,434)	(149,141)		(292,299)
Income (loss) from operations	(1,226)	(2,462)	(5,542)		(19,654)
Interest expense, net	(59)	(7)	(74)		(18)
Earnings (loss) before income taxes	(1,285)	(2,469)	(5,616)		(19,672)
Income tax (provision) benefit	(841)	(5,675)	(1,183)		3,697
Equity in income (loss) of subsidiary	0	1,098	0		444
Net earnings (loss)	(2,126)	(7,046)	(6,799)		(15,531)
Comprehensive income	(2,126)	(7,046)	(6,799)		(15,531)
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net sales	0	14,180	0		27,064
Cost and expenses:
Cost of sales	0	(12,354)	0		(25,760)
Selling, general and administrative expenses	0	(338)	0		(676)
Asset Impairment Charges					0
Total operating costs and expenses	0	(12,692)	0		(26,436)
Income (loss) from operations	0	1,488	0		628
Interest expense, net		0			0
Earnings (loss) before income taxes	0	1,488	0		628
Income tax (provision) benefit	0	(390)	0		(184)
Equity in income (loss) of subsidiary			0
Net earnings (loss)	0	1,098	0		444
Comprehensive income	0	1,098	0		444
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net sales	(27,157)	(51,259)	(61,846)		(102,517)
Cost and expenses:
Cost of sales	27,157	51,259	61,846		102,517
Asset Impairment Charges					0
Total operating costs and expenses	27,157	51,259	61,846		102,517
Income (loss) from operations	0
Earnings (loss) before income taxes	0
Income tax (provision) benefit	1,820	3,395	3,692		3,736
Equity in income (loss) of subsidiary	2,126	5,948	6,799		15,087
Net earnings (loss)	3,946	9,343	10,491		18,823
Comprehensive income	$ 3,946	$ 9,343	$ 10,491		$ 18,823
[1]	For the six months ended June 30, 2015 and 2014, net periodic costs associated with our pension and other postretirement employee benefit, or OPEB, plans included in other comprehensive income and reclassified from accumulated other comprehensive loss included $6.3 million and $4.9 million, respectively, of actuarial loss amortization, as well as $1.1 million and $1.0 million, respectively, of prior service credit amortization, all net of tax totaling $2.1 million and $1.5 million, respectively. These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs in Note 10, “Pension and Other Postretirement Employee Benefit Plans.”

Supplemental Guarantor Financ53

Supplemental Guarantor Financial Information Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Current assets:
Cash	$ 11,465	$ 27,331	$ 22,481	$ 23,675
Restricted cash	2,270	1,500
Short-term investments	60,000	50,000
Receivables, net	141,090	133,914
Taxes receivable	0	1,255
Inventories	248,280	286,626
Deferred tax assets	20,839	21,760
Prepaid expenses	7,869	4,191
Total current assets	491,813	526,577
Property, plant and equipment, net	823,672	810,987
Goodwill	209,087	209,087
Intangible assets, net	22,473	24,956
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent	8,098	4,738
Other assets, net	7,394	9,583
TOTAL ASSETS	1,562,537	1,585,928
Current liabilities:
Accounts payable and accrued liabilities	214,701	215,826
Current liability for pensions and other postretirement employee benefits	7,915	7,915
Total current liabilities	222,616	223,741
Long-term debt	575,000	575,000
Liability for pensions and other postretirement employee benefits	114,835	118,464
Other long-term obligations	50,779	56,856
Accrued taxes	1,717	2,696
Deferred tax liabilities (assets)	110,289	111,634
Accumulated other comprehensive loss, net of tax	(67,662)	(70,863)	(55,689)	(58,093)
Stockholders' equity excluding accumulated other comprehensive loss	554,963	568,400
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,562,537	1,585,928
Issuer
Current assets:
Cash	11,465	27,331	18,843	18,273
Restricted cash	2,270	1,500
Short-term investments	60,000	50,000
Receivables, net	124,051	117,970
Taxes receivable		6,760
Inventories	212,773	246,210
Deferred tax assets	18,273	14,733
Prepaid expenses	7,397	3,734
Total current assets	436,229	468,238
Property, plant and equipment, net	675,758	657,369
Goodwill	209,087	209,087
Intangible assets, net	4,702	5,224
Intercompany receivable (payable)	31,877	33,703
Investment in subsidiary	130,483	137,282
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent	8,098	4,738
Other assets, net	6,352	8,496
TOTAL ASSETS	1,502,586	1,524,137
Current liabilities:
Accounts payable and accrued liabilities	191,723	193,326
Current liability for pensions and other postretirement employee benefits	7,915	7,915
Total current liabilities	199,638	201,241
Long-term debt	575,000	575,000
Liability for pensions and other postretirement employee benefits	114,835	118,464
Other long-term obligations	50,078	56,029
Accrued taxes	925	1,902
Deferred tax liabilities (assets)	74,809	73,964
Accumulated other comprehensive loss, net of tax	(67,662)	(70,863)
Stockholders' equity excluding accumulated other comprehensive loss	554,963	568,400
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,502,586	1,524,137
Guarantor Subsidiaries
Current assets:
Cash	0	0	0	0
Receivables, net	17,444	16,557
Taxes receivable		(15,758)
Inventories	35,507	40,416
Deferred tax assets	2,720	5,206
Prepaid expenses	472	457
Total current assets	56,143	46,878
Property, plant and equipment, net	147,914	153,618
Intangible assets, net	17,771	19,732
Intercompany receivable (payable)	(32,031)	(21,629)
Investment in subsidiary	0	0
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent	0	0
Other assets, net	1,042	1,087
TOTAL ASSETS	190,839	199,686
Current liabilities:
Accounts payable and accrued liabilities	23,383	23,113
Total current liabilities	23,383	23,113
Other long-term obligations	701	827
Accrued taxes	792	794
Deferred tax liabilities (assets)	35,480	37,670
Accumulated other comprehensive loss, net of tax	0
Stockholders' equity excluding accumulated other comprehensive loss	130,483	137,282
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	190,839	199,686
Non-Guarantor Subsidiaries
Current assets:
Cash	0	0	3,638	5,402
Receivables, net	0	0
Taxes receivable		0
Inventories	0	0
Deferred tax assets	0	0
Prepaid expenses	0	0
Total current assets	0	0
Property, plant and equipment, net	0	0
Intangible assets, net	0	0
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent	0	0
TOTAL ASSETS	0	0
Current liabilities:
Accounts payable and accrued liabilities	0	0
Total current liabilities	0	0
Accrued taxes	0	0
Deferred tax liabilities (assets)	0	0
Accumulated other comprehensive loss, net of tax	0
Stockholders' equity excluding accumulated other comprehensive loss	0	0
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	0	0
Eliminations
Current assets:
Cash	0	0	$ 0	$ 0
Receivables, net	(405)	(613)
Taxes receivable		10,253
Deferred tax assets	(154)	1,821
Total current assets	(559)	11,461
Intercompany receivable (payable)	154	(12,074)
Investment in subsidiary	(130,483)	(137,282)
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent	0	0
TOTAL ASSETS	(130,888)	(137,895)
Current liabilities:
Accounts payable and accrued liabilities	(405)	(613)
Total current liabilities	(405)	(613)
Deferred tax liabilities (assets)	0	0
Accumulated other comprehensive loss, net of tax	0
Stockholders' equity excluding accumulated other comprehensive loss	(130,483)	(137,282)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ (130,888)	$ (137,895)

Supplemental Guarantor Financ54

Supplemental Guarantor Financial Information Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)	$ 15,597	$ 12,453	$ 21,354	$ 18,679
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	20,632	22,015	41,640	44,246
Equity-based compensation expense			2,019	6,910
Asset Impairment Charges	0	0	0	4,259
Deferred tax expense (benefit)			(2,480)	9,857
Employee benefit plans			1,438	979
Amortization of Financing Costs and Discounts			446	949
Gain (Loss) on Disposition of Assets			272	422
Other Noncash Income Tax Expense			(979)	0
Changes in working capital, net			29,309	14,818
Change in taxes receivable, net			1,255	3,663
Excess tax benefits from equity share-based payment arrangements			1,459	0
Funding of qualified pension plans			(3,179)	(8,889)
Other Operating Activities, Cash Flow Statement			(1,726)	(980)
Net cash provided by operating activities			87,910	94,913
CASH FLOWS FROM INVESTING ACTIVITIES
Change in short-term investments, net			(10,000)	11,000
Additions to plant and equipment			(55,538)	(32,612)
Proceeds from Sale of Productive Assets			507	619
Net cash used for investing activities			(65,031)	(20,993)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments for Repurchase of Common Stock			(37,148)	(74,322)
Investment (to) from Parent			0	0
Payment of tax withholdings on equity-based payment arrangements			(3,048)	(792)
Excess Tax Benefit from Share-based Compensation, Financing Activities			1,459	0
Proceeds from (Payments for) Other Financing Activities			(8)	0
Net cash (used for) provided by financing activities			(38,745)	(75,114)
Increase in cash			(15,866)	(1,194)
Cash at beginning of period			27,331	23,675
Cash at end of period	11,465	22,481	11,465	22,481
Issuer
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)	13,777	9,058	17,662	14,943
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization			31,792	28,559
Equity-based compensation expense			2,019	6,910
Asset Impairment Charges				0
Deferred tax expense (benefit)			(4,751)	29,648
Employee benefit plans			1,438	979
Amortization of Financing Costs and Discounts			446	949
Gain (Loss) on Disposition of Assets			303	204
Other Noncash Income Tax Expense			(977)
Changes in working capital, net			23,859	10,145
Change in taxes receivable, net			6,760	(2,946)
Excess tax benefits from equity share-based payment arrangements			1,459
Funding of qualified pension plans			(3,179)	(8,889)
Other Operating Activities, Cash Flow Statement			(703)	(831)
Net cash provided by operating activities			73,210	79,671
CASH FLOWS FROM INVESTING ACTIVITIES
Change in short-term investments, net			(10,000)	11,000
Additions to plant and equipment			(52,526)	(24,994)
Proceeds from Sale of Productive Assets			0	38
Net cash used for investing activities			(62,526)	(13,956)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments for Repurchase of Common Stock			(37,148)	(74,322)
Investment (to) from Parent			12,195	9,969
Payment of tax withholdings on equity-based payment arrangements			(3,048)	(792)
Excess Tax Benefit from Share-based Compensation, Financing Activities			1,459
Proceeds from (Payments for) Other Financing Activities			(8)
Net cash (used for) provided by financing activities			(26,550)	(65,145)
Increase in cash			(15,866)	570
Cash at beginning of period			27,331	18,273
Cash at end of period	11,465	18,843	11,465	18,843
Guarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)	(2,126)	(7,046)	(6,799)	(15,531)
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization			9,848	14,515
Equity-based compensation expense			0	0
Asset Impairment Charges				4,259
Deferred tax expense (benefit)			296	(8,390)
Employee benefit plans			0	0
Amortization of Financing Costs and Discounts			0	0
Gain (Loss) on Disposition of Assets			(31)	218
Other Noncash Income Tax Expense			(2)
Changes in working capital, net			5,450	7,089
Change in taxes receivable, net			(15,758)	(12,628)
Excess tax benefits from equity share-based payment arrangements			0
Funding of qualified pension plans			0	0
Other Operating Activities, Cash Flow Statement			(1,023)	(151)
Net cash provided by operating activities			(8,019)	(10,619)
CASH FLOWS FROM INVESTING ACTIVITIES
Change in short-term investments, net			0	0
Additions to plant and equipment			(3,012)	(7,500)
Proceeds from Sale of Productive Assets			507	581
Net cash used for investing activities			(2,505)	(6,919)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments for Repurchase of Common Stock			0	0
Investment (to) from Parent			10,524	17,538
Payment of tax withholdings on equity-based payment arrangements			0	0
Excess Tax Benefit from Share-based Compensation, Financing Activities			0
Proceeds from (Payments for) Other Financing Activities			0
Net cash (used for) provided by financing activities			10,524	17,538
Increase in cash			0	0
Cash at beginning of period			0	0
Cash at end of period	0	0	0	0
Non-Guarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)	0	1,098	0	444
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization			0	1,172
Equity-based compensation expense			0	0
Asset Impairment Charges				0
Deferred tax expense (benefit)			0	15
Employee benefit plans			0	0
Amortization of Financing Costs and Discounts			0	0
Gain (Loss) on Disposition of Assets			0	0
Other Noncash Income Tax Expense			0
Changes in working capital, net			0	(2,416)
Change in taxes receivable, net			0	55
Excess tax benefits from equity share-based payment arrangements			0
Funding of qualified pension plans			0	0
Other Operating Activities, Cash Flow Statement			0	2
Net cash provided by operating activities			0	(728)
CASH FLOWS FROM INVESTING ACTIVITIES
Change in short-term investments, net			0	0
Additions to plant and equipment			0	(118)
Proceeds from Sale of Productive Assets			0	0
Net cash used for investing activities			0	(118)
CASH FLOWS FROM FINANCING ACTIVITIES
Payments for Repurchase of Common Stock			0	0
Investment (to) from Parent			0	(918)
Payment of tax withholdings on equity-based payment arrangements			0	0
Excess Tax Benefit from Share-based Compensation, Financing Activities			0
Proceeds from (Payments for) Other Financing Activities			0
Net cash (used for) provided by financing activities			0	(918)
Increase in cash			0	(1,764)
Cash at beginning of period			0	5,402
Cash at end of period	0	3,638	0	3,638
Eliminations
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)	3,946	9,343	10,491	18,823
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization			0	0
Equity-based compensation expense			0	0
Asset Impairment Charges				0
Deferred tax expense (benefit)			1,975	(11,416)
Employee benefit plans			0	0
Amortization of Financing Costs and Discounts			0	0
Gain (Loss) on Disposition of Assets			0	0
Other Noncash Income Tax Expense			0
Changes in working capital, net			0	0
Change in taxes receivable, net			10,253	19,182
Excess tax benefits from equity share-based payment arrangements			0
Funding of qualified pension plans			0	0
Other Operating Activities, Cash Flow Statement			0	0
Net cash provided by operating activities			22,719	26,589
CASH FLOWS FROM INVESTING ACTIVITIES
Change in short-term investments, net			0	0
Additions to plant and equipment			0	0
Proceeds from Sale of Productive Assets			0	0
Net cash used for investing activities			0	0
CASH FLOWS FROM FINANCING ACTIVITIES
Payments for Repurchase of Common Stock			0	0
Investment (to) from Parent			(22,719)	(26,589)
Payment of tax withholdings on equity-based payment arrangements			0	0
Excess Tax Benefit from Share-based Compensation, Financing Activities			0
Proceeds from (Payments for) Other Financing Activities			0
Net cash (used for) provided by financing activities			(22,719)	(26,589)
Increase in cash			0	0
Cash at beginning of period			0	0
Cash at end of period	$ 0	$ 0	$ 0	$ 0