Rayonier Advanced Materials (RYAM) 10-Q 8 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 29, 2018	Nov. 01, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	RAYONIER ADVANCED MATERIALS INC.
Trading Symbol	RYAM
Entity Central Index Key	1,597,672
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Type	10-Q
Document Period End Date	Sep. 29, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		51,060,954

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017	Sep. 29, 2018	Sep. 23, 2017
Income Statement [Abstract]
Net Sales	$ 544,339	$ 209,717	$ 1,608,051	$ 612,358
Cost of Sales	(448,426)	(177,597)	(1,330,307)	(508,573)
Gross Margin	95,913	32,120	277,744	103,785
Selling, general and administrative expenses	(31,002)	(12,475)	(78,927)	(40,138)
Duties	(816)	0	(20,680)	0
Other operating income (expense), net	(7,945)	(871)	(9,507)	(3,322)
Operating Income	56,150	18,774	168,630	60,325
Interest expense	(14,973)	(9,337)	(45,137)	(27,374)
Interest income and other, net	(394)	987	5,013	2,122
Other components of net periodic benefit costs	2,159	(1,117)	6,553	(3,349)
Adjustment to gain on bargain purchase	6,175	0	20,836	0
Gain on derivative instrument	0	14,087	0	16,149
Income Before Income Taxes	49,117	23,394	155,895	47,873
Income tax expense (Note 13)	(11,181)	(7,722)	(40,114)	(17,986)
Net Income Attributable to Rayonier Advanced Materials Inc.	37,936	15,672	115,781	29,887
Mandatory convertible stock dividends	(3,441)	(3,441)	(10,284)	(10,057)
Net Income Available to Rayonier Advanced Materials Inc. Common Stockholders	$ 34,495	$ 12,231	$ 105,497	$ 19,830
Earnings Per Share of Common Stock (Note 10)
Basic earnings per share (in dollars per share)	$ 0.68	$ 0.29	$ 2.07	$ 0.47
Diluted earnings per share (in dollars per share)	0.60	0.28	1.82	0.46
Dividends Declared Per Common Share (in dollars per share)	$ 0.07	$ 0.07	$ 0.21	$ 0.21
Comprehensive Income:
Net Income	$ 37,936	$ 15,672	$ 115,781	$ 29,887
Other Comprehensive Income, net of tax (Note 9)
Foreign currency translation adjustments	(2,014)	0	(10,265)	0
Unrealized gain on derivative instruments	6,126	0	(936)	0
Net gain from pension and postretirement plans	2,398	2,032	7,193	6,093
Total other comprehensive income	6,510	2,032	(4,008)	6,093
Comprehensive Income	$ 44,446	$ 17,704	$ 111,773	$ 35,980

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 105,976	$ 96,235
Accounts receivable, net (Note 2)	197,931	181,298
Inventory (Note 3)	332,058	302,086
Prepaid and other current assets	87,074	66,918
Total current assets	723,039	646,537
Property, Plant and Equipment (net of accumulated depreciation of $1,392,487 for 2018 and $1,309,192 for 2017)	1,378,379	1,407,762
Deferred Tax Assets	377,047	402,846
Intangible Assets, net	54,212	59,869
Other Assets	135,093	125,597
Total Assets	2,667,770	2,642,611
Current Liabilities
Accounts payable	147,992	157,925
Accrued and other current liabilities (Note 4)	136,266	127,040
Current maturities of long-term debt (Note 5)	12,425	9,425
Current liabilities for disposed operations (Note 6)	14,534	13,181
Total current liabilities	311,217	307,571
Long-Term Debt (Note 5)	1,191,979	1,232,179
Long-Term Liabilities for Disposed Operations (Note 6)	148,287	150,905
Pension and Other Postretirement Benefits	201,460	212,810
Deferred Tax Liabilities	28,722	32,607
Other Non-Current Liabilities	9,249	12,783
Commitments and Contingencies
Stockholders’ Equity
Preferred stock, 10,000,000 shares authorized at $0.01 par value, 1,725,000 issued and outstanding as of September 29, 2018 and December 31, 2017, aggregate liquidation preference $172,500	17	17
Common stock, 140,000,000 shares authorized at $0.01 par value, 51,062,175 and 51,717,142 issued and outstanding, as of September 29, 2018 and December 31, 2017, respectively	511	517
Additional paid-in capital	398,859	392,353
Retained earnings	457,628	377,020
Accumulated other comprehensive income (loss) (Note 9)	(80,159)	(76,151)
Total Stockholders’ Equity	776,856	693,756
Total Liabilities and Stockholders’ Equity	$ 2,667,770	$ 2,642,611

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accumulated deprecation	$ 1,392,487	$ 1,309,192
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	1,725,000	1,725,000
Preferred stock, shares outstanding (in shares)	1,725,000	1,725,000
Preferred stock, aggregate liquidation preference	$ 172,500	$ 172,500
Common stock, shares authorized (in shares)	140,000,000	140,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	51,062,175	51,717,142
Common stock, shares outstanding (in shares)	51,062,175	51,717,142

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017
Operating Activities
Net Income	$ 115,781	$ 29,887
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	107,521	63,884
Stock-based incentive compensation expense	10,146	6,489
Amortization of capitalized debt costs, discount and premium	942	1,401
Deferred income tax	30,748	18,499
Gain on bargain purchase	(19,458)	0
Unrealized gain on derivative instrument	0	(16,149)
Net periodic benefit cost of pension and postretirement plans	4,097	7,608
Gain on foreign currency exchange	(6,525)	0
Other	5,317	2,841
Changes in operating assets and liabilities:
Receivables	(17,861)	(5,244)
Inventories	(33,306)	11,797
Accounts payable	(1,873)	15,255
Accrued liabilities	4,562	6,004
All other operating activities	(25,854)	(9,211)
Contributions to pension and other postretirement benefit plans	(8,326)	(12,019)
Expenditures for disposed operations	(5,549)	(3,418)
Cash Provided by Operating Activities	160,362	117,624
Investing Activities
Capital expenditures	(92,591)	(44,075)
Proceeds from sale of resin operations	16,143	0
Other	5	0
Cash Used for Investing Activities	(76,443)	(44,075)
Financing Activities
Repayment of debt	(34,141)	(4,398)
Dividends paid on common stock	(11,030)	(6,124)
Dividends paid on preferred stock	(10,350)	(10,350)
Proceeds from the issuance of common stock	452	0
Common stock repurchased	(17,784)	(153)
Cash Used for Financing Activities	(72,853)	(21,025)
Cash and Cash Equivalents
Change in cash and cash equivalents	11,066	52,524
Net effect of foreign exchange on cash and cash equivalents	(1,325)	0
Balance, beginning of year	96,235	326,655
Balance, end of period	$ 105,976	$ 379,179

Basis of Presentation and New A

Basis of Presentation and New Accounting Pronouncements	9 Months Ended
	Sep. 29, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and New Accounting Pronouncements	Basis of Presentation and New Accounting Pronouncements Basis of Presentation The unaudited condensed consolidated financial statements and notes thereto of Rayonier Advanced Materials Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these financial statements and notes reflect all adjustments (all of which are normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. These statements and notes should be read in conjunction with the financial statements and supplementary data included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the SEC. New Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases. The update requires entities to recognize assets and liabilities arising from finance and operating leases and to classify those finance and operating lease payments in the financing or operating sections, respectively, of the statement of cash flows. It is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company is evaluating the impact of this standard on its consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Tax Effects from AOCI . This guidance permits the reclassification of certain pension or other post employment benefit dangling debits and credits (“dangles”) from Accumulated Other Comprehensive Income (Loss) (“AOCI”) to retained earnings. The applicable dangles are those recorded as a result of H.R.1, passed on December 22, 2017 (the "Tax Cuts and Jobs Act"), which reduced the U.S. federal tax rate applicable to the Company. The ASU is effective for fiscal years beginning after December 15, 2018 with early adoption permitted. The Company has approximately $22 million in applicable dangling debits recorded in AOCI and has not yet determined whether or not it will reclassify this amount. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , as amended and/or clarified by ASU Nos. 2016-08, 2016-10, 2016-12, and 2016-20, a comprehensive new revenue recognition standard. The core principle is that a company should recognize revenue when it transfers control of goods or services to customers for an amount that reflects the consideration to which the company expects to be entitled to in exchange for those goods or services. The Company adopted the standard on a modified retrospective basis in the first quarter of 2018, generally recognizing revenue when it transfers control at a point in time. The adoption did not have a material impact to the individual financial statement line items on the Company’s consolidated financial statements because the new standard is not materially different than its previous revenue recognition practices. The following is a discussion of our revenue recognition policy effective January 1, 2018. Accounting Policy Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied. The majority of the Company's contracts have a single performance obligation to transfer products. Accordingly, the Company recognizes revenue when title and risk of loss have been transferred to the customer. Generally, title passes upon delivery to the customer at the agreed upon location. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products and is generally based upon contractual arrangements with customers or published indices. The Company sells its products both directly to customers and through distributors and agents typically under agreements with payment terms less than 90 days. The Company has elected to account for shipping and handling as activities to fulfill the promise to transfer the goods. As such, shipping and handling costs incurred are recorded in cost of sales. The Company has elected to exclude from net sales any value add, sales and other taxes which it collects concurrent with revenue-producing activities. These accounting policy elections are consistent with the manner in which the Company historically recorded shipping and handling fees and taxes. Contract Estimates The nature of certain of the Company's contracts gives rise to variable consideration, which may be constrained, including volume-based rebates to certain customers. The Company issues rebates to customers when they purchase a certain volume level, primarily retrospective volume-based rebates, which are applied retroactively to prior purchases. The Company estimates the level of volumes based on anticipated purchases at the beginning of the period and records a rebate accrual for each purchase toward the requisite rebate volume. These estimated rebates are included in the transaction price of the Company's contracts with customers as a reduction to net sales and are included in accrued customer incentives and prepayments in the consolidated balance sheets (see Note 4 - Accrued and Other Current Liabilities ). This methodology is consistent with the manner in which the Company historically estimated and recorded volume-based rebates. The majority of the Company's revenue is derived from contracts (i) with an original expected length of one year or less and (ii) for which it recognizes revenue at the amount in which it has the right to invoice as product is delivered. The Company has elected the practical expedient not to disclose the value of remaining performance obligations associated with these types of contracts. The Company has certain contracts which contain performance obligations which are not significant in the context of the contract with the customer. The Company has elected the practical expedient not to assess whether these promised goods or services are performance obligations. Contract Balances Contract liabilities primarily relate to prepayments received from the Company's customers before revenue is recognized and volume rebates payable to customers. These amounts are included in accrued customer incentives and prepayments in the consolidated balance sheets (see Note 4 - Accrued and Other Current Liabilities ). The Company does not have any material contract assets as of September 29, 2018 . Disaggregated Revenue In general, the Company's product-lines within its segments are aligned according to the nature and economic characteristics of its products and customer relationships and provide meaningful disaggregation of each business segment's results of operations. Disaggregation of net sales by business segment and product-line are included in Note 14 - Segment Information . Recently Adopted Accounting Pronouncements In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments . The update was issued to reduce diversity in practice regarding the presentation of eight specific types of cash receipts and cash payments in the statement of cash flows. The update is effective for fiscal years beginning after December 15, 2017. The Company adopted the update as of January 1, 2018. The adoption did not have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits. The update was issued to improve the presentation of net periodic pension and post retirement benefit cost. The Company adopted the provisions of this guidance in the first quarter of 2018 using the retrospective method. As a result of this update, the Company presented the components of periodic pension and post retirement costs, other than service costs, separately outside of operating income in “Other components of net periodic benefit costs” on the condensed consolidated statement of income. The Company presented the service costs component of net periodic benefit cost in cost of sales and selling, general and administrative expense, which correlates with the related employee compensation costs arising from services rendered during the period. Also in accordance with the new guidance, only the service cost component of the net periodic benefit cost are eligible for capitalization in assets. The update resulted in a change to previously reported amounts, with an increase in 2017 operating income of $1 million for the third quarter and $3 million year-to-date, which was offset by a corresponding increase in other components of net periodic benefits costs of $1 million for the quarter and $3 million year-to-date, reflecting the impact of presenting interest cost, expected return on plan assets, amortization of prior service costs and actuarial gains and losses components in non-operating income. The adoption of this guidance had no impact on previously reported net income. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation. The update provides guidance on how to account for changes to the terms or conditions of stock compensation awards. It is effective for fiscal years beginning after December 15, 2017. The Company adopted the update as of January 1, 2018. The adoption did not have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The update provides guidance to better align the financial reporting for hedging activities with the economic objectives of those activities. For public business entities, it is effective for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The update requires a modified retrospective transition method which will result in the recognition of a cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. The Company elected to early adopt the new guidance as of January 1, 2018. The adoption did not have a material impact on the Company’s consolidated financial statements. Adjustment to Gain on Bargain Purchase In connection with the acquisition of Tembec Inc. (“Tembec”) on November 17, 2017 (the “Acquisition”), the Company recognized a $317 million preliminary gain on bargain purchase, which represented the excess of the estimated fair value of the net assets acquired and liabilities assumed over the total purchase consideration. The final bargain purchase gain is subject to adjustment during the measurement period of the transaction, pending finalization of the valuations of acquired assets and liabilities no later than one year from the purchase date. During the first nine months of 2018, the Company determined that provisional amounts included in the preliminary valuation required adjustments to reflect new information obtained. As a result, in the second quarter of 2018, the Company recorded an increase in the bargain purchase gain of $15 million , including the removal of a $13 million tax reserve related to a previously disposed location and $2 million for the favorable settlement of a contingent liability. In the third quarter of 2018, the Company sold its resins operations, which was included in its High Purity Cellulose segment, to a third party for approximately $18 million resulting in a gain of approximately $7 million . The sale of the resins operations is subject to working capital adjustments which could impact the recognized gain. These non-operating gains were included in the adjustment to gain on bargain purchase on the condensed consolidated statements of income. Subsequent Events Events and transactions subsequent to the balance sheet date have been evaluated for potential recognition and disclosure through November 8, 2018 , the date these financial statements were available to be issued. The following subsequent events warranting disclosure were identified. On October 4, 2018, the Company’s board of directors declared a fourth quarter cash dividend of $2.00 per share of mandatory convertible preferred stock and $0.07 per share of common stock. The preferred stock dividend will be paid on November 15, 2018 to mandatory convertible preferred stockholders of record as of November 1, 2018. The common stock dividend is payable on December 31, 2018 to common stockholders of record on December 17, 2018.

Accounts Receivable, Net

Accounts Receivable, Net	9 Months Ended
	Sep. 29, 2018
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net As of September 29, 2018 and December 31, 2017 , the Company’s accounts receivable included the following: September 29, 2018 December 31, 2017 Accounts receivable, trade $ 145,343 $ 134,523 Accounts receivable, other (a) 53,393 47,368 Allowance for doubtful accounts (805 ) (593 ) Total accounts receivable, net $ 197,931 $ 181,298 (a) Accounts receivable, other consists primarily of value added/consumption taxes, grants receivable and accrued billings due from government agencies.

Inventory

Inventory	9 Months Ended
	Sep. 29, 2018
Inventory Disclosure [Abstract]
Inventory	Inventory As of September 29, 2018 and December 31, 2017 , the Company’s inventory included the following: September 29, 2018 December 31, 2017 Finished goods $ 223,149 $ 190,140 Work-in-progress 20,468 18,889 Raw materials 77,875 82,940 Manufacturing and maintenance supplies 10,566 10,117 Total inventory $ 332,058 $ 302,086

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	9 Months Ended
	Sep. 29, 2018
Payables and Accruals [Abstract]
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities As of September 29, 2018 and December 31, 2017 , the Company’s accrued and other current liabilities included the following: September 29, 2018 December 31, 2017 Accrued customer incentives and prepayments $ 41,528 $ 53,522 Accrued payroll and benefits 31,730 33,133 Accrued interest 10,196 3,188 Other current liabilities 52,812 37,197 Total accrued and other current liabilities $ 136,266 $ 127,040

Debt and Capital Leases

Debt and Capital Leases	9 Months Ended
	Sep. 29, 2018
Debt Disclosure [Abstract]
Debt and Capital Leases	Debt and Capital Leases As of September 29, 2018 and December 31, 2017 , the Company’s debt and capital leases include the following: September 29, 2018 December 31, 2017 U.S. Revolver of $100 million maturing in November 2022, $91 million available after taking into account outstanding letters of credit, bearing interest at LIBOR plus 2.00% at September 29, 2018 $ — $ — Multi-currency Revolver of $150 million maturing in November 2022, $125 million available after taking into account outstanding letters of credit, bearing interest at LIBOR plus 2.00% at September 29, 2018 — — Term A-1 Loan Facility borrowings maturing through November 2022 bearing interest at LIBOR plus 2.00%, interest rate of 4.22% at September 29, 2018 160,000 180,000 Term A-2 Loan Facility borrowings maturing through November 2024 bearing interest at LIBOR plus 1.65 (after consideration of 0.60% patronage benefit), interest rate of 4.47% at September 29, 2018 438,875 450,000 Senior Notes due 2024 at a fixed interest rate of 5.50% 506,412 506,412 Canadian dollar, fixed interest rate term loans with rates ranging from 5.50% to 6.86% and maturity dates ranging from March 2020 through April 2028, secured by certain assets of the Temiscaming plant 96,420 100,881 Other loans 4,118 5,946 Capital lease obligation 3,197 3,409 Total debt principal payments due 1,209,022 1,246,648 Less: Debt premium, original issue discount and issuance costs (4,618 ) (5,044 ) Total debt 1,204,404 1,241,604 Less: Current maturities of long-term debt (12,425 ) (9,425 ) Long-term debt $ 1,191,979 $ 1,232,179 During the nine months ended September 29, 2018 , the Company made $20 million and $11 million in principal repayments on the Term A-1 Loan Facility and Term A-2 Loan Facility, respectively. As of September 29, 2018 , debt and capital lease payments due during the next five years and thereafter are as follows: Capital Lease Minimum Lease Payments Less: Interest Net Present Value Debt Principal Payments Remaining 2018 $ 129 $ 56 $ 73 $ 1,095 2019 515 209 306 13,425 2020 515 187 328 20,849 2021 515 163 352 12,724 2022 515 138 377 190,253 Thereafter 2,018 257 1,761 967,479 Total principal payments $ 4,207 $ 1,010 $ 3,197 $ 1,205,825

Liabilities for Disposed Operat

Liabilities for Disposed Operations	9 Months Ended
	Sep. 29, 2018
Environmental Remediation Obligations [Abstract]
Liabilities for Disposed Operations	Liabilities for Disposed Operations An analysis of the liabilities for disposed operations for the nine months ended September 29, 2018 is as follows: Balance, December 31, 2017 $ 164,086 Expenditures charged to liabilities (5,549 ) Increase to liabilities 4,837 Change in currency rate (553 ) Balance, September 29, 2018 162,821 Less: Current portion (14,534 ) Long-term liabilities for disposed operations $ 148,287 In addition to the estimated liabilities, the Company is subject to the risk of reasonably possible additional liabilities in excess of the established reserves due to potential changes in circumstances and future events, including, without limitation, changes to current laws and regulations; changes in governmental agency personnel, direction, philosophy and/or enforcement policies; developments in remediation technologies; increases in the cost of remediation, operation, maintenance and monitoring of its disposed operations sites; changes in the volume, nature or extent of contamination to be remediated or monitoring to be undertaken; the outcome of negotiations with governmental agencies and non-governmental parties; and changes in accounting rules or interpretations. Based on information available as of September 29, 2018 , the Company estimates this exposure could range up to approximately $67 million , although no assurances can be given that this amount will not be exceeded given the factors described above. These potential additional costs are attributable to several sites and other applicable liabilities. Further, this estimate excludes reasonably possible liabilities which are not currently estimable primarily due to the factors discussed above. Subject to the previous paragraph, the Company believes established liabilities are sufficient for probable costs expected to be incurred over the next 20 years with respect to its disposed operations. However, no assurances are given they will be sufficient for the reasons described above, and additional liabilities could have a material adverse effect on the Company’s financial position, results of operations and cash flows.

Derivatives Instruments

Derivatives Instruments	9 Months Ended
	Sep. 29, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Instruments	Derivative Instruments The Company’s earnings and cash flows are subject to fluctuations due to changes in interest rates and foreign currency exchange rates. The Company allows for the use of derivative financial instruments to manage interest rate and foreign currency exchange rate exposure, but does not allow derivatives to be used for speculative purposes. All derivative instruments are recognized on the consolidated balance sheets at their fair value and are either designated as a hedge of a forecasted transaction or undesignated. Changes in the fair value of a derivative designated as a hedge are recorded in other comprehensive income until earnings are affected by the hedged transaction, and are then reported in current earnings. Changes in the fair value of undesignated derivative instruments and the ineffective portion of designated derivative instruments are reported in current earnings. Interest Rate Risk The Company’s primary debt obligations utilize variable-rate LIBOR, exposing the Company to variability in interest payments due to changes in interest rates. The Company entered into interest rate swap agreements to reduce the volatility of financing costs, achieve a desired proportion of fixed-rate versus floating-rate debt and to hedge the variability in cash flows attributable to interest rate risks caused by changes in the LIBOR benchmark. The Company designated the swaps as cash flow hedges and is assessing their effectiveness using the hypothetical derivative method in conjunction with regression. Effective gains and losses, deferred to AOCI, are reclassified into earnings over the life of the associated hedge. Foreign Currency Exchange Rate Risk Foreign currency fluctuations affect investments in foreign subsidiaries and foreign currency cash flows related to third party purchases, product shipments, and foreign-denominated debt. The Company is also exposed to the translation of foreign currency earnings to the U.S. dollar. Management uses foreign currency forward contracts to selectively hedge its foreign currency cash flow exposure and manage risk associated with changes in currency exchange rates. The Company’s principal foreign currency exposure is to the Canadian dollar, and to a lesser extent, the euro. The notional amounts of outstanding derivative instruments as of September 29, 2018 and December 31, 2017 are presented below. September 29, 2018 December 31, 2017 Interest rate swaps (a) $ 200,000 $ 200,000 Foreign exchange forward contracts (b) $ 398,248 $ 240,591 Foreign exchange forward contracts (c) $ 96,810 $ — (a) Maturity date of December 2020 (b) Monthly maturity dates through September 2019 (c) Various maturity dates in 2020, 2022 and 2028 The fair values of derivative instruments included in the consolidated balance sheet as of September 29, 2018 and December 31, 2017 are provided in the below table. See Note 8 — Fair Value Measurements for additional information related to the Company’s derivatives. Balance Sheet Location September 29, 2018 December 31, 2017 Assets: Derivatives designated as hedging instruments: Interest rate swaps Other current assets $ 1,332 $ — Interest rate swaps Other assets 2,624 749 Foreign exchange forward contracts Other current assets 1,293 — Foreign exchange forward contracts Other assets 756 — Derivatives not designated as hedging instruments: Foreign exchange forward contracts Other current assets 68 427 Liabilities: Derivatives designated as hedging instruments: Foreign exchange forward contracts Other current liabilities (4,662 ) — Total derivatives $ 1,411 $ 1,176 The effects of derivative instruments designated as cash flow hedges, the related changes in AOCI and the gains and losses in income for the three and nine months ended September 29, 2018 are presented below. The Company did not have any derivatives designated as hedges during the three and nine months ended September 23, 2017 . Three Months Ended September 29, 2018 Derivatives in Cash Flow Hedging Relationships Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Interest rate swaps $ 530 $ 74 Interest Expense Foreign exchange forward contracts 5,002 60 Other operating income (expense), net Foreign exchange forward contracts 1,399 (1,399 ) Cost of sales Foreign exchange forward contracts 1,570 1,529 Interest income and other, net Nine Months Ended September 29, 2018 Derivatives in Cash Flow Hedging Relationships Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Interest rate swaps $ 3,095 $ (112 ) Interest Expense Foreign exchange forward contracts (5,406 ) 1,188 Other operating income (expense), net Foreign exchange forward contracts 1,466 (1,466 ) Cost of sales Foreign exchange forward contracts 181 973 Interest income and other, net The effects of derivative instruments not designated as hedging instruments on the statement of income for the three and nine months ended September 29, 2018 and September 23, 2017 were as follows: Three Months Ended Nine Months Ended Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Foreign exchange contracts Other operating income (expense), net $ (250 ) $ — $ (3,791 ) $ — Foreign currency collar Other non-operating income — 14,087 — 16,149 The after-tax amounts of unrealized gains (losses) in AOCI related to hedge derivatives at September 29, 2018 and December 31, 2017 are presented below: September 29, 2018 December 31, 2017 Interest rate cash flow hedges $ 3,086 $ 619 Foreign exchange cash flow hedges (3,403 ) — The amount of future reclassifications from AOCI will fluctuate with movements in the underlying markets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 29, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table presents the carrying amount, estimated fair values and categorization under the fair value hierarchy for financial instruments held by the Company at September 29, 2018 and December 31, 2017 , using market information and what management believes to be appropriate valuation methodologies: September 29, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents $ 105,976 $ 105,976 $ — $ 96,235 $ 96,235 $ — Interest rate swaps (a) 3,956 — 3,956 749 — 749 Foreign currency forward contracts (a) 2,117 — 2,117 427 — 427 Liabilities (b): Foreign currency forward contracts (a) 4,662 — 4,662 — — — Fixed-rate long-term debt 601,806 — 589,486 606,529 — 611,308 Variable-rate long-term debt 599,400 — 602,993 631,666 — 635,946 (a) These items represent derivative instruments. (b) Liabilities exclude capital lease obligation. The Company uses the following methods and assumptions in estimating the fair value of its financial instruments: Cash and cash equivalents — The carrying amount is equal to fair market value. Derivative instruments — The fair value is calculated based on standard valuation models using quoted prices and market observable data of similar instruments. The interest rate derivatives are based on the LIBOR swap rate, which is observable at commonly quoted intervals for the full term of the swap and therefore is considered Level 2. The foreign currency derivatives are contracts to buy foreign currency at a fixed rate on a specified future date. The foreign exchange rate is observable for the full term of the swap and is therefore considered Level 2. See Note 7 — Derivative Instruments for additional information related to the derivative instruments. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities. The variable rate debt adjusts with changes in the market rate, therefore the carrying value approximates fair value.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 29, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The components of AOCI are as follows: Nine Months Ended September 29, 2018 September 23, 2017 Unrecognized components of employee benefit plans, net of tax: Balance, beginning of year $ (81,638 ) $ (110,080 ) Other comprehensive gain (loss) before reclassifications — — Income tax on other comprehensive loss — — Reclassifications to earnings: (a) Amortization of losses 8,907 8,989 Amortization of prior service costs 429 572 Amortization of negative plan amendment (115 ) (115 ) Income tax on reclassifications (2,028 ) (3,353 ) Net comprehensive gain (loss) on employee benefit plans, net of tax 7,193 6,093 Balance, end of quarter (74,445 ) (103,987 ) Unrealized gain (loss) on derivative instruments, net of tax: Balance, beginning of year 619 — Other comprehensive income before reclassifications (664 ) — Income tax on other comprehensive income 281 — Reclassifications to earnings: (b) Interest rate contracts 112 — Foreign exchange contracts (695 ) — Income tax on reclassifications 30 — Net comprehensive gain (loss) on derivative instruments, net of tax (936 ) — Balance, end of quarter (317 ) — Foreign currency translation adjustments: Balance, beginning of year 4,868 — Foreign currency translation adjustment (10,265 ) — Balance, end of quarter (5,397 ) — Accumulated other comprehensive income (loss), end of quarter $ (80,159 ) $ (103,987 ) (a) The AOCI components for defined benefit pension and post-retirement plans are included in the computation of net periodic benefit cost. See Note 12 — Employee Benefit Plans for additional information. (b) Reclassifications of interest rate contracts are recorded in interest expense. Reclassifications of foreign currency exchange contracts are recorded in cost of sales, other operating income or non-operating income as appropriate. See Note 7 — Derivative Instruments for additional information.

Earnings Per Share of Common St

Earnings Per Share of Common Stock	9 Months Ended
	Sep. 29, 2018
Earnings Per Share [Abstract]
Earnings Per Share of Common Stock	Earnings Per Share of Common Stock The following table provides details of the calculations of basic and diluted earnings per share: Three Months Ended Nine Months Ended September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Net income $ 37,936 $ 15,672 $ 115,781 $ 29,887 Preferred Stock dividends (3,441 ) (3,441 ) (10,284 ) (10,057 ) Net income available for common stockholders $ 34,495 $ 12,231 $ 105,497 $ 19,830 Shares used for determining basic earnings per share of common stock 50,603,498 42,427,437 51,005,206 42,388,762 Dilutive effect of: Stock options 3,620 — 4,127 — Performance and restricted stock 1,266,588 1,025,228 1,297,024 896,066 Preferred stock 11,371,718 12,582,057 11,371,718 — Shares used for determining diluted earnings per share of common stock 63,245,424 56,034,722 63,678,075 43,284,828 Basic earnings per share (not in thousands) $ 0.68 $ 0.29 $ 2.07 $ 0.47 Diluted earnings per share (not in thousands) $ 0.60 $ 0.28 $ 1.82 $ 0.46 Anti-dilutive instruments excluded from the computation of diluted earnings per share: Three Months Ended Nine Months Ended September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Stock options 263,184 376,434 263,184 376,434 Performance and restricted stock 11,687 7,612 398,576 13,025 Preferred stock — — — 12,582,057 Total anti-dilutive instruments 274,871 384,046 661,760 12,971,516 On January 29, 2018, the Board of Directors authorized a share buyback program pursuant to which the Company may, from time to time, purchase shares of its common stock with an aggregate purchase price of up to $100 million . During the nine months ended September 29, 2018 , the Company repurchased and retired 802,040 shares of common stock under this buyback program at an average price of $18.32 per share, excluding commissions, for an aggregate purchase price of approximately $15 million . The repurchase and retirement of these shares was included in the calculation of weighted-average shares outstanding at September 29, 2018 .

Incentive Stock Plans

Incentive Stock Plans	9 Months Ended
	Sep. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Incentive Stock Plans	Incentive Stock Plans The Company’s total stock based compensation cost for the nine months ended September 29, 2018 and September 23, 2017 was $10 million and $6 million , respectively. The Company made new grants of restricted stock units and performance-based stock units to certain employees during the first nine months of 2018 . The 2018 restricted stock unit awards vest over three years. The 2018 performance-based stock unit awards are measured against an internal return on invested capital target and a synergy target set in connection with the 2017 acquisition of Tembec, Inc. Depending on performance against the targets, the awards will pay out in common stock amounts between 0 and 200 percent of the performance-based stock units awarded. The total number of common stock awards granted will be adjusted up or down 25 percent , for certain participants, based on stock price performance relative to a peer group over the term of the plan, which could result in a final common stock issuance of 0 to 250 percent of the performance-based stock units awarded. In March 2018 , the performance-based share units granted in 2015 were settled at an average of 152 percent of the performance-based stock units awarded, resulting in the issuance of approximately 288,703 shares of common stock. The following table summarizes the activity on the Company’s incentive stock awards for the nine months ended September 29, 2018 : Stock Options Restricted Stock and Stock Units Performance-Based Stock Units Options Weighted Average Exercise Price Awards Weighted Average Grant Date Fair Value Awards Weighted Average Grant Date Fair Value Outstanding at January 1, 2018 373,058 $ 32.25 848,371 $ 12.47 1,080,067 $ 11.58 Granted — — 301,384 19.78 449,838 22.75 Forfeited — — (14,004 ) 11.64 (12,247 ) 11.42 Exercised or settled (26,045 ) 17.34 (216,378 ) 17.34 (190,320 ) 17.50 Expired or cancelled (55,864 ) 30.40 — — — — Outstanding at September 29, 2018 291,149 $ 34.10 919,373 $ 13.71 1,327,338 $ 14.69

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 29, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has defined benefit pension and other postretirement plans covering certain union and non-union employees, primarily in the U.S., Canada and France. The defined benefit pension plans are closed to new participants. Employee defined benefit plan liabilities are calculated using actuarial estimates and management assumptions. These estimates are based on historical information, along with certain assumptions about future events. The components of net periodic benefit costs from defined benefit plans that have been recorded are shown in the following table: Pension Postretirement Three Months Ended Three Months Ended Components of Net Periodic Benefit Cost September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Service cost $ 3,059 $ 1,184 $ 330 $ 236 Interest cost 8,149 3,318 312 198 Expected return on plan assets (13,695 ) (5,548 ) — — Amortization of prior service cost 143 190 — — Amortization of losses 2,913 2,913 57 83 Amortization of negative plan amendment — — (38 ) (38 ) Total net periodic benefit cost $ 569 $ 2,057 $ 661 $ 479 Pension Postretirement Nine Months Ended Nine Months Ended Components of Net Periodic Benefit Cost September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Service cost $ 9,246 $ 3,552 $ 1,404 $ 707 Interest cost 24,612 9,954 961 594 Expected return on plan assets (41,347 ) (16,645 ) — — Amortization of prior service cost 429 571 — 1 Amortization of losses 8,735 8,739 172 250 Amortization of negative plan amendment — — (115 ) (115 ) Total net periodic benefit cost $ 1,675 $ 6,171 $ 2,422 $ 1,437 Service cost is included in cost of sales and selling, general and administrative expenses in the statements of income, as appropriate. Interest cost, expected return on plan assets, amortization of prior service cost, amortization of losses and amortization of negative plan amendment are included in other components of net periodic benefit costs on the condensed consolidated statement of income.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 29, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rates for the three months ended September 29, 2018 and September 23, 2017 were 22.8 percent and 33.0 percent , respectively. The Company’s effective tax rates for the nine months ended September 29, 2018 and September 23, 2017 were 25.7 percent and 37.6 percent , respectively. The statutory rate in 2018 is 21 percent compared to 35 percent in 2017 due to the passage of the Tax Cuts and Jobs Act in December 2017 in the United States. The current quarter and year-to-date effective rates differ from the federal statutory rate of 21 percent primarily due to different statutory tax rates of foreign operations and the U.S. taxes associated from the inclusion of certain foreign income described as Global Intangible Low-Taxed Income (“GILTI”), partially offset by a nontaxable bargain purchase adjustment included in pretax income and a return to accrual adjustment related to previously filed tax returns. The Company has the option to either treat taxes due on future GILTI income as a current period expense when incurred (the “period cost method”) or factor in such amounts in the Company’s measurement of its deferred taxes (the “deferred method”). The Company has determined it will record GILTI income as a current period expense when incurred. In the second quarter of 2018, a previously unrecognized tax benefit of $13 million was recognized as an adjustment to bargain purchase (see Note 1 - Basis of Presentation and New Accounting Pronouncements ). There have been no other material changes to the balance of unrecognized tax benefits reported at December 31, 2017.

Segment Information

Segment Information	9 Months Ended
	Sep. 29, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has currently divided its operations into five reportable segments: High Purity Cellulose, Forest Products, Pulp, Paper and Corporate. The Corporate operations consist primarily of senior management, accounting, information systems, human resources, treasury, tax and legal administrative functions that provide support services to the operating business units. The Company does not currently allocate the cost of maintaining these support functions to its operating units. The Company evaluates the performance of its segments based on operating income. Intersegment sales consist primarily of wood chips sales from Forest Products to High Purity Cellulose, Pulp and Paper segments and high-yield pulp sales from Pulp to Paper. Intersegment sales prices are at rates that approximate market. Net sales, disaggregated by product-line, was comprised of the following for the three and nine months ended : Three Months Ended Nine Months Ended September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 High Purity Cellulose Cellulose Specialties $ 217,538 $ 167,341 $ 625,864 $ 482,124 Commodity Products 56,448 40,229 153,220 123,588 Other sales (a) 34,001 2,147 96,535 6,646 Total High Purity Cellulose 307,987 209,717 875,619 612,358 Forest Products Lumber 68,713 — 228,686 — Other sales (b) 17,242 — 53,551 — Total Forest Products 85,955 — 282,237 — Pulp High-yield pulp 89,440 — 265,495 — Paper Paperboard 50,675 — 149,100 — Newsprint 27,698 — 88,958 — Total Paper 78,373 — 238,058 — Eliminations (17,416 ) — (53,358 ) — Total net sales $ 544,339 $ 209,717 $ 1,608,051 $ 612,358 (a) Other sales include sales of electricity, resins, lignin and other by-products to third-parties (b) Other sales include sales of logs, wood chips and other by-products to other segments and third-parties Operating income by segment was comprised of the following for the three and nine months ended : Three Months Ended Nine Months Ended September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 High Purity Cellulose $ 33,922 $ 30,188 $ 83,288 $ 95,944 Forest Products 7,986 — 35,159 — Pulp 26,035 — 74,970 — Paper 13,648 — 23,465 — Corporate (25,441 ) (11,414 ) (48,252 ) (35,619 ) Total operating income $ 56,150 $ 18,774 $ 168,630 $ 60,325 Identifiable assets by segment were as follows: September 29, 2018 December 31, 2017 High Purity Cellulose $ 1,648,355 $ 1,671,107 Forest Products 173,906 154,258 Pulp 92,469 83,081 Paper 256,624 245,746 Corporate 496,416 488,419 Total identifiable assets $ 2,667,770 $ 2,642,611

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 29, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The following table includes the material changes to the contractual financial obligations presented in Note 20 - Commitments and Contingencies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the SEC. The future minimum payments under these purchase obligations are presented as of September 29, 2018 . The payment amounts are estimates and may vary based on changes in actual price and volumes terms. Purchase Obligations 2018 $ 2,594 2019 19,301 2020 6,147 2021 (85 ) 2022 239 Thereafter (878 ) Total $ 27,318 Contingencies The Company is engaged in various legal and regulatory actions and proceedings, and has been named as a defendant in various lawsuits and claims arising in the ordinary course of its business. While the Company has procured reasonable and customary insurance covering risks normally occurring in connection with its businesses, the Company has in certain cases retained some risk through the operation of self-insurance, primarily in the areas of workers’ compensation, property insurance and general liability. These other lawsuits and claims, either individually or in aggregate, are not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows. As of September 29, 2018 , collective bargaining agreements covering approximately 200 unionized employees had expired. On September 30, 2018 , the collective bargaining agreement for the Company’s Temiscaming, Quebec location expired, covering approximately 600 unionized employees. In all cases, the parties have continued to work under the terms of the expired contracts while negotiations continue. While there can be no assurances, the Company expects to reach agreements with its unions. However, a work stoppage could have a material adverse effect on its business, results of operations and financial condition. Guarantees and Other The Company provides financial guarantees as required by creditors, insurance programs and various governmental agencies. As of September 29, 2018 , the Company had net exposure of $38 million from various standby letters of credit, primarily for financial assurance relating to environmental remediation, credit support for natural gas and electricity purchases, and guarantees related to foreign retirement plan obligations. These standby letters of credit represent a contingent liability. The Company would only be liable upon its default on the related payment obligations. The letters of credit have various expiration dates and will be renewed as required. The Company had surety bonds of $85 million as of September 29, 2018 , primarily to comply with financial assurance requirements relating to environmental remediation and post closure care, to provide collateral for the Company’s workers’ compensation program, and to guarantee taxes and duties for products shipped internationally. These surety bonds expire at various dates and are expected to be renewed annually as required. LignoTech Florida, a venture in which the Company owns 45 percent and its venture partner Borregaard ASA owns 55 percent , entered into a construction contract to build its lignin manufacturing facility and financing agreements to fund the construction of the facility, which was completed in the second quarter of 2018. The Company is a guarantor under both the construction and financing agreements. In the event of default, the Company expects it would only be liable for its proportional share as a result of an agreement with its venture partner. The remaining guarantee related to LignoTech Florida at September 29, 2018 was $33 million . The Company has not recorded any liabilities for these financial guarantees in its consolidated balance sheets, either because the Company has recorded the underlying liability associated with the guarantee or the guarantee is dependent on the Company’s own performance and, therefore, is not subject to the measurement requirements or because the Company has calculated the estimated fair value of the guarantee and determined it to be immaterial based upon the current facts and circumstances that would trigger a payment obligation. It is not possible to determine the maximum potential amount of the liability under these potential obligations due to the unique set of facts and circumstances likely to be involved with each provision.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flows Information	9 Months Ended
	Sep. 29, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flows Information	Supplemental Disclosures of Cash Flows Information Supplemental disclosures of cash flows information was comprised of the following for the nine months ended: September 29, 2018 September 23, 2017 Cash paid (received) during the period: Interest $ 37,759 $ 19,056 Income taxes 12,834 5,989 Non-cash investing and financing activities: Capital assets purchased on account $ 8,221 $ 3,750 Capital lease obligation 3,197 3,478

Basis of Presentation and New_2

Basis of Presentation and New Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 29, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements and notes thereto of Rayonier Advanced Materials Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these financial statements and notes reflect all adjustments (all of which are normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented. These statements and notes should be read in conjunction with the financial statements and supplementary data included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the SEC.
New or Recently Adopted Accounting Pronouncements	New Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, Leases. The update requires entities to recognize assets and liabilities arising from finance and operating leases and to classify those finance and operating lease payments in the financing or operating sections, respectively, of the statement of cash flows. It is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The Company is evaluating the impact of this standard on its consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Reclassification of Tax Effects from AOCI . This guidance permits the reclassification of certain pension or other post employment benefit dangling debits and credits (“dangles”) from Accumulated Other Comprehensive Income (Loss) (“AOCI”) to retained earnings. The applicable dangles are those recorded as a result of H.R.1, passed on December 22, 2017 (the "Tax Cuts and Jobs Act"), which reduced the U.S. federal tax rate applicable to the Company. The ASU is effective for fiscal years beginning after December 15, 2018 with early adoption permitted. The Company has approximately $22 million in applicable dangling debits recorded in AOCI and has not yet determined whether or not it will reclassify this amount. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , as amended and/or clarified by ASU Nos. 2016-08, 2016-10, 2016-12, and 2016-20, a comprehensive new revenue recognition standard. The core principle is that a company should recognize revenue when it transfers control of goods or services to customers for an amount that reflects the consideration to which the company expects to be entitled to in exchange for those goods or services. The Company adopted the standard on a modified retrospective basis in the first quarter of 2018, generally recognizing revenue when it transfers control at a point in time. The adoption did not have a material impact to the individual financial statement line items on the Company’s consolidated financial statements because the new standard is not materially different than its previous revenue recognition practices. The following is a discussion of our revenue recognition policy effective January 1, 2018. Accounting Policy Revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied. The majority of the Company's contracts have a single performance obligation to transfer products. Accordingly, the Company recognizes revenue when title and risk of loss have been transferred to the customer. Generally, title passes upon delivery to the customer at the agreed upon location. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products and is generally based upon contractual arrangements with customers or published indices. The Company sells its products both directly to customers and through distributors and agents typically under agreements with payment terms less than 90 days. The Company has elected to account for shipping and handling as activities to fulfill the promise to transfer the goods. As such, shipping and handling costs incurred are recorded in cost of sales. The Company has elected to exclude from net sales any value add, sales and other taxes which it collects concurrent with revenue-producing activities. These accounting policy elections are consistent with the manner in which the Company historically recorded shipping and handling fees and taxes. Contract Estimates The nature of certain of the Company's contracts gives rise to variable consideration, which may be constrained, including volume-based rebates to certain customers. The Company issues rebates to customers when they purchase a certain volume level, primarily retrospective volume-based rebates, which are applied retroactively to prior purchases. The Company estimates the level of volumes based on anticipated purchases at the beginning of the period and records a rebate accrual for each purchase toward the requisite rebate volume. These estimated rebates are included in the transaction price of the Company's contracts with customers as a reduction to net sales and are included in accrued customer incentives and prepayments in the consolidated balance sheets (see Note 4 - Accrued and Other Current Liabilities ). This methodology is consistent with the manner in which the Company historically estimated and recorded volume-based rebates. The majority of the Company's revenue is derived from contracts (i) with an original expected length of one year or less and (ii) for which it recognizes revenue at the amount in which it has the right to invoice as product is delivered. The Company has elected the practical expedient not to disclose the value of remaining performance obligations associated with these types of contracts. The Company has certain contracts which contain performance obligations which are not significant in the context of the contract with the customer. The Company has elected the practical expedient not to assess whether these promised goods or services are performance obligations. Contract Balances Contract liabilities primarily relate to prepayments received from the Company's customers before revenue is recognized and volume rebates payable to customers. These amounts are included in accrued customer incentives and prepayments in the consolidated balance sheets (see Note 4 - Accrued and Other Current Liabilities ). The Company does not have any material contract assets as of September 29, 2018 . Disaggregated Revenue In general, the Company's product-lines within its segments are aligned according to the nature and economic characteristics of its products and customer relationships and provide meaningful disaggregation of each business segment's results of operations. Disaggregation of net sales by business segment and product-line are included in Note 14 - Segment Information . Recently Adopted Accounting Pronouncements In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments . The update was issued to reduce diversity in practice regarding the presentation of eight specific types of cash receipts and cash payments in the statement of cash flows. The update is effective for fiscal years beginning after December 15, 2017. The Company adopted the update as of January 1, 2018. The adoption did not have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-07, Compensation - Retirement Benefits. The update was issued to improve the presentation of net periodic pension and post retirement benefit cost. The Company adopted the provisions of this guidance in the first quarter of 2018 using the retrospective method. As a result of this update, the Company presented the components of periodic pension and post retirement costs, other than service costs, separately outside of operating income in “Other components of net periodic benefit costs” on the condensed consolidated statement of income. The Company presented the service costs component of net periodic benefit cost in cost of sales and selling, general and administrative expense, which correlates with the related employee compensation costs arising from services rendered during the period. Also in accordance with the new guidance, only the service cost component of the net periodic benefit cost are eligible for capitalization in assets. The update resulted in a change to previously reported amounts, with an increase in 2017 operating income of $1 million for the third quarter and $3 million year-to-date, which was offset by a corresponding increase in other components of net periodic benefits costs of $1 million for the quarter and $3 million year-to-date, reflecting the impact of presenting interest cost, expected return on plan assets, amortization of prior service costs and actuarial gains and losses components in non-operating income. The adoption of this guidance had no impact on previously reported net income. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation. The update provides guidance on how to account for changes to the terms or conditions of stock compensation awards. It is effective for fiscal years beginning after December 15, 2017. The Company adopted the update as of January 1, 2018. The adoption did not have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The update provides guidance to better align the financial reporting for hedging activities with the economic objectives of those activities. For public business entities, it is effective for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The update requires a modified retrospective transition method which will result in the recognition of a cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. The Company elected to early adopt the new guidance as of January 1, 2018. The adoption did not have a material impact on the Company’s consolidated financial statements.
Fair Value Measurements	The Company uses the following methods and assumptions in estimating the fair value of its financial instruments: Cash and cash equivalents — The carrying amount is equal to fair market value. Derivative instruments — The fair value is calculated based on standard valuation models using quoted prices and market observable data of similar instruments. The interest rate derivatives are based on the LIBOR swap rate, which is observable at commonly quoted intervals for the full term of the swap and therefore is considered Level 2. The foreign currency derivatives are contracts to buy foreign currency at a fixed rate on a specified future date. The foreign exchange rate is observable for the full term of the swap and is therefore considered Level 2. See Note 7 — Derivative Instruments for additional information related to the derivative instruments. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities. The variable rate debt adjusts with changes in the market rate, therefore the carrying value approximates fair value.

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 29, 2018
Receivables [Abstract]
Schedule of Accounts Receivable	As of September 29, 2018 and December 31, 2017 , the Company’s accounts receivable included the following: September 29, 2018 December 31, 2017 Accounts receivable, trade $ 145,343 $ 134,523 Accounts receivable, other (a) 53,393 47,368 Allowance for doubtful accounts (805 ) (593 ) Total accounts receivable, net $ 197,931 $ 181,298 (a) Accounts receivable, other consists primarily of value added/consumption taxes, grants receivable and accrued billings due from government agencies.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 29, 2018
Inventory Disclosure [Abstract]
Schedule of Inventory	As of September 29, 2018 and December 31, 2017 , the Company’s inventory included the following: September 29, 2018 December 31, 2017 Finished goods $ 223,149 $ 190,140 Work-in-progress 20,468 18,889 Raw materials 77,875 82,940 Manufacturing and maintenance supplies 10,566 10,117 Total inventory $ 332,058 $ 302,086

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 29, 2018
Payables and Accruals [Abstract]
Schedule of Accrued and Other Current Liabilities	As of September 29, 2018 and December 31, 2017 , the Company’s accrued and other current liabilities included the following: September 29, 2018 December 31, 2017 Accrued customer incentives and prepayments $ 41,528 $ 53,522 Accrued payroll and benefits 31,730 33,133 Accrued interest 10,196 3,188 Other current liabilities 52,812 37,197 Total accrued and other current liabilities $ 136,266 $ 127,040

Debt and Capital Leases (Tables

Debt and Capital Leases (Tables)	9 Months Ended
	Sep. 29, 2018
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of September 29, 2018 and December 31, 2017 , the Company’s debt and capital leases include the following: September 29, 2018 December 31, 2017 U.S. Revolver of $100 million maturing in November 2022, $91 million available after taking into account outstanding letters of credit, bearing interest at LIBOR plus 2.00% at September 29, 2018 $ — $ — Multi-currency Revolver of $150 million maturing in November 2022, $125 million available after taking into account outstanding letters of credit, bearing interest at LIBOR plus 2.00% at September 29, 2018 — — Term A-1 Loan Facility borrowings maturing through November 2022 bearing interest at LIBOR plus 2.00%, interest rate of 4.22% at September 29, 2018 160,000 180,000 Term A-2 Loan Facility borrowings maturing through November 2024 bearing interest at LIBOR plus 1.65 (after consideration of 0.60% patronage benefit), interest rate of 4.47% at September 29, 2018 438,875 450,000 Senior Notes due 2024 at a fixed interest rate of 5.50% 506,412 506,412 Canadian dollar, fixed interest rate term loans with rates ranging from 5.50% to 6.86% and maturity dates ranging from March 2020 through April 2028, secured by certain assets of the Temiscaming plant 96,420 100,881 Other loans 4,118 5,946 Capital lease obligation 3,197 3,409 Total debt principal payments due 1,209,022 1,246,648 Less: Debt premium, original issue discount and issuance costs (4,618 ) (5,044 ) Total debt 1,204,404 1,241,604 Less: Current maturities of long-term debt (12,425 ) (9,425 ) Long-term debt $ 1,191,979 $ 1,232,179
Schedule of Maturities of Long-term Debt	As of September 29, 2018 , debt and capital lease payments due during the next five years and thereafter are as follows: Capital Lease Minimum Lease Payments Less: Interest Net Present Value Debt Principal Payments Remaining 2018 $ 129 $ 56 $ 73 $ 1,095 2019 515 209 306 13,425 2020 515 187 328 20,849 2021 515 163 352 12,724 2022 515 138 377 190,253 Thereafter 2,018 257 1,761 967,479 Total principal payments $ 4,207 $ 1,010 $ 3,197 $ 1,205,825

Liabilities for Disposed Oper_2

Liabilities for Disposed Operations (Tables)	9 Months Ended
	Sep. 29, 2018
Environmental Remediation Obligations [Abstract]
Schedule of Liabilities for Disposed Operations	An analysis of the liabilities for disposed operations for the nine months ended September 29, 2018 is as follows: Balance, December 31, 2017 $ 164,086 Expenditures charged to liabilities (5,549 ) Increase to liabilities 4,837 Change in currency rate (553 ) Balance, September 29, 2018 162,821 Less: Current portion (14,534 ) Long-term liabilities for disposed operations $ 148,287

Derivatives Instruments (Tables

Derivatives Instruments (Tables)	9 Months Ended
	Sep. 29, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The notional amounts of outstanding derivative instruments as of September 29, 2018 and December 31, 2017 are presented below. September 29, 2018 December 31, 2017 Interest rate swaps (a) $ 200,000 $ 200,000 Foreign exchange forward contracts (b) $ 398,248 $ 240,591 Foreign exchange forward contracts (c) $ 96,810 $ — (a) Maturity date of December 2020 (b) Monthly maturity dates through September 2019 (c) Various maturity dates in 2020, 2022 and 2028
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The fair values of derivative instruments included in the consolidated balance sheet as of September 29, 2018 and December 31, 2017 are provided in the below table. See Note 8 — Fair Value Measurements for additional information related to the Company’s derivatives. Balance Sheet Location September 29, 2018 December 31, 2017 Assets: Derivatives designated as hedging instruments: Interest rate swaps Other current assets $ 1,332 $ — Interest rate swaps Other assets 2,624 749 Foreign exchange forward contracts Other current assets 1,293 — Foreign exchange forward contracts Other assets 756 — Derivatives not designated as hedging instruments: Foreign exchange forward contracts Other current assets 68 427 Liabilities: Derivatives designated as hedging instruments: Foreign exchange forward contracts Other current liabilities (4,662 ) — Total derivatives $ 1,411 $ 1,176
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The effects of derivative instruments designated as cash flow hedges, the related changes in AOCI and the gains and losses in income for the three and nine months ended September 29, 2018 are presented below. The Company did not have any derivatives designated as hedges during the three and nine months ended September 23, 2017 . Three Months Ended September 29, 2018 Derivatives in Cash Flow Hedging Relationships Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Interest rate swaps $ 530 $ 74 Interest Expense Foreign exchange forward contracts 5,002 60 Other operating income (expense), net Foreign exchange forward contracts 1,399 (1,399 ) Cost of sales Foreign exchange forward contracts 1,570 1,529 Interest income and other, net Nine Months Ended September 29, 2018 Derivatives in Cash Flow Hedging Relationships Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Interest rate swaps $ 3,095 $ (112 ) Interest Expense Foreign exchange forward contracts (5,406 ) 1,188 Other operating income (expense), net Foreign exchange forward contracts 1,466 (1,466 ) Cost of sales Foreign exchange forward contracts 181 973 Interest income and other, net
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The effects of derivative instruments not designated as hedging instruments on the statement of income for the three and nine months ended September 29, 2018 and September 23, 2017 were as follows: Three Months Ended Nine Months Ended Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Foreign exchange contracts Other operating income (expense), net $ (250 ) $ — $ (3,791 ) $ — Foreign currency collar Other non-operating income — 14,087 — 16,149
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The after-tax amounts of unrealized gains (losses) in AOCI related to hedge derivatives at September 29, 2018 and December 31, 2017 are presented below: September 29, 2018 December 31, 2017 Interest rate cash flow hedges $ 3,086 $ 619 Foreign exchange cash flow hedges (3,403 ) —

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 29, 2018
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following table presents the carrying amount, estimated fair values and categorization under the fair value hierarchy for financial instruments held by the Company at September 29, 2018 and December 31, 2017 , using market information and what management believes to be appropriate valuation methodologies: September 29, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents $ 105,976 $ 105,976 $ — $ 96,235 $ 96,235 $ — Interest rate swaps (a) 3,956 — 3,956 749 — 749 Foreign currency forward contracts (a) 2,117 — 2,117 427 — 427 Liabilities (b): Foreign currency forward contracts (a) 4,662 — 4,662 — — — Fixed-rate long-term debt 601,806 — 589,486 606,529 — 611,308 Variable-rate long-term debt 599,400 — 602,993 631,666 — 635,946 (a) These items represent derivative instruments. (b) Liabilities exclude capital lease obligation.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 29, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The components of AOCI are as follows: Nine Months Ended September 29, 2018 September 23, 2017 Unrecognized components of employee benefit plans, net of tax: Balance, beginning of year $ (81,638 ) $ (110,080 ) Other comprehensive gain (loss) before reclassifications — — Income tax on other comprehensive loss — — Reclassifications to earnings: (a) Amortization of losses 8,907 8,989 Amortization of prior service costs 429 572 Amortization of negative plan amendment (115 ) (115 ) Income tax on reclassifications (2,028 ) (3,353 ) Net comprehensive gain (loss) on employee benefit plans, net of tax 7,193 6,093 Balance, end of quarter (74,445 ) (103,987 ) Unrealized gain (loss) on derivative instruments, net of tax: Balance, beginning of year 619 — Other comprehensive income before reclassifications (664 ) — Income tax on other comprehensive income 281 — Reclassifications to earnings: (b) Interest rate contracts 112 — Foreign exchange contracts (695 ) — Income tax on reclassifications 30 — Net comprehensive gain (loss) on derivative instruments, net of tax (936 ) — Balance, end of quarter (317 ) — Foreign currency translation adjustments: Balance, beginning of year 4,868 — Foreign currency translation adjustment (10,265 ) — Balance, end of quarter (5,397 ) — Accumulated other comprehensive income (loss), end of quarter $ (80,159 ) $ (103,987 ) (a) The AOCI components for defined benefit pension and post-retirement plans are included in the computation of net periodic benefit cost. See Note 12 — Employee Benefit Plans for additional information. (b) Reclassifications of interest rate contracts are recorded in interest expense. Reclassifications of foreign currency exchange contracts are recorded in cost of sales, other operating income or non-operating income as appropriate. See Note 7 — Derivative Instruments for additional information.

Earnings Per Share of Common _2

Earnings Per Share of Common Stock (Tables)	9 Months Ended
	Sep. 29, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table provides details of the calculations of basic and diluted earnings per share: Three Months Ended Nine Months Ended September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Net income $ 37,936 $ 15,672 $ 115,781 $ 29,887 Preferred Stock dividends (3,441 ) (3,441 ) (10,284 ) (10,057 ) Net income available for common stockholders $ 34,495 $ 12,231 $ 105,497 $ 19,830 Shares used for determining basic earnings per share of common stock 50,603,498 42,427,437 51,005,206 42,388,762 Dilutive effect of: Stock options 3,620 — 4,127 — Performance and restricted stock 1,266,588 1,025,228 1,297,024 896,066 Preferred stock 11,371,718 12,582,057 11,371,718 — Shares used for determining diluted earnings per share of common stock 63,245,424 56,034,722 63,678,075 43,284,828 Basic earnings per share (not in thousands) $ 0.68 $ 0.29 $ 2.07 $ 0.47 Diluted earnings per share (not in thousands) $ 0.60 $ 0.28 $ 1.82 $ 0.46
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Anti-dilutive instruments excluded from the computation of diluted earnings per share: Three Months Ended Nine Months Ended September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Stock options 263,184 376,434 263,184 376,434 Performance and restricted stock 11,687 7,612 398,576 13,025 Preferred stock — — — 12,582,057 Total anti-dilutive instruments 274,871 384,046 661,760 12,971,516

Incentive Stock Plans (Tables)

Incentive Stock Plans (Tables)	9 Months Ended
	Sep. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Activity for Incentive Stock Awards	The following table summarizes the activity on the Company’s incentive stock awards for the nine months ended September 29, 2018 : Stock Options Restricted Stock and Stock Units Performance-Based Stock Units Options Weighted Average Exercise Price Awards Weighted Average Grant Date Fair Value Awards Weighted Average Grant Date Fair Value Outstanding at January 1, 2018 373,058 $ 32.25 848,371 $ 12.47 1,080,067 $ 11.58 Granted — — 301,384 19.78 449,838 22.75 Forfeited — — (14,004 ) 11.64 (12,247 ) 11.42 Exercised or settled (26,045 ) 17.34 (216,378 ) 17.34 (190,320 ) 17.50 Expired or cancelled (55,864 ) 30.40 — — — — Outstanding at September 29, 2018 291,149 $ 34.10 919,373 $ 13.71 1,327,338 $ 14.69

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 29, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Pension and Postretirement Benefit Costs	The components of net periodic benefit costs from defined benefit plans that have been recorded are shown in the following table: Pension Postretirement Three Months Ended Three Months Ended Components of Net Periodic Benefit Cost September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Service cost $ 3,059 $ 1,184 $ 330 $ 236 Interest cost 8,149 3,318 312 198 Expected return on plan assets (13,695 ) (5,548 ) — — Amortization of prior service cost 143 190 — — Amortization of losses 2,913 2,913 57 83 Amortization of negative plan amendment — — (38 ) (38 ) Total net periodic benefit cost $ 569 $ 2,057 $ 661 $ 479 Pension Postretirement Nine Months Ended Nine Months Ended Components of Net Periodic Benefit Cost September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 Service cost $ 9,246 $ 3,552 $ 1,404 $ 707 Interest cost 24,612 9,954 961 594 Expected return on plan assets (41,347 ) (16,645 ) — — Amortization of prior service cost 429 571 — 1 Amortization of losses 8,735 8,739 172 250 Amortization of negative plan amendment — — (115 ) (115 ) Total net periodic benefit cost $ 1,675 $ 6,171 $ 2,422 $ 1,437

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 29, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Net sales, disaggregated by product-line, was comprised of the following for the three and nine months ended : Three Months Ended Nine Months Ended September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 High Purity Cellulose Cellulose Specialties $ 217,538 $ 167,341 $ 625,864 $ 482,124 Commodity Products 56,448 40,229 153,220 123,588 Other sales (a) 34,001 2,147 96,535 6,646 Total High Purity Cellulose 307,987 209,717 875,619 612,358 Forest Products Lumber 68,713 — 228,686 — Other sales (b) 17,242 — 53,551 — Total Forest Products 85,955 — 282,237 — Pulp High-yield pulp 89,440 — 265,495 — Paper Paperboard 50,675 — 149,100 — Newsprint 27,698 — 88,958 — Total Paper 78,373 — 238,058 — Eliminations (17,416 ) — (53,358 ) — Total net sales $ 544,339 $ 209,717 $ 1,608,051 $ 612,358 (a) Other sales include sales of electricity, resins, lignin and other by-products to third-parties (b) Other sales include sales of logs, wood chips and other by-products to other segments and third-parties Operating income by segment was comprised of the following for the three and nine months ended : Three Months Ended Nine Months Ended September 29, 2018 September 23, 2017 September 29, 2018 September 23, 2017 High Purity Cellulose $ 33,922 $ 30,188 $ 83,288 $ 95,944 Forest Products 7,986 — 35,159 — Pulp 26,035 — 74,970 — Paper 13,648 — 23,465 — Corporate (25,441 ) (11,414 ) (48,252 ) (35,619 ) Total operating income $ 56,150 $ 18,774 $ 168,630 $ 60,325 Identifiable assets by segment were as follows: September 29, 2018 December 31, 2017 High Purity Cellulose $ 1,648,355 $ 1,671,107 Forest Products 173,906 154,258 Pulp 92,469 83,081 Paper 256,624 245,746 Corporate 496,416 488,419 Total identifiable assets $ 2,667,770 $ 2,642,611

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 29, 2018
Commitments and Contingencies Disclosure [Abstract]
Purchase Obligations	The following table includes the material changes to the contractual financial obligations presented in Note 20 - Commitments and Contingencies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the SEC. The future minimum payments under these purchase obligations are presented as of September 29, 2018 . The payment amounts are estimates and may vary based on changes in actual price and volumes terms. Purchase Obligations 2018 $ 2,594 2019 19,301 2020 6,147 2021 (85 ) 2022 239 Thereafter (878 ) Total $ 27,318

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flows Information (Tables)	9 Months Ended
	Sep. 29, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental disclosures of cash flows information was comprised of the following for the nine months ended: September 29, 2018 September 23, 2017 Cash paid (received) during the period: Interest $ 37,759 $ 19,056 Income taxes 12,834 5,989 Non-cash investing and financing activities: Capital assets purchased on account $ 8,221 $ 3,750 Capital lease obligation 3,197 3,478

Basis of Presentation and New_3

Basis of Presentation and New Accounting Pronouncements (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 04, 2018	Nov. 17, 2017	Sep. 29, 2018	Jun. 30, 2018	Sep. 23, 2017	Sep. 29, 2018	Sep. 23, 2017	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income			$ 56,150		$ 18,774	$ 168,630	$ 60,325
Other components of net periodic benefit costs			(2,159)		1,117	(6,553)	3,349
Gain on bargain purchase			$ 6,175		$ 0	$ 20,836	$ 0
Common stock, dividend declared (in dollars per share)			$ 0.07		$ 0.07	$ 0.21	$ 0.21
Subsequent Event
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common stock, dividend declared (in dollars per share)	$ 0.07
Subsequent Event | Convertible Preferred Stock
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Convertible preferred stock, dividend declared (in dollars per share)	$ 2
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income					$ 1,000		$ 3,000
Other components of net periodic benefit costs					$ 1,000		3,000
Unrecognized components of employee benefit plans, net of tax
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of tax effects from AOCI						$ 2,028	$ 3,353
Unrecognized components of employee benefit plans, net of tax | Scenario, Forecast | New Accounting Pronouncement, Early Adoption, Effect | Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of tax effects from AOCI								$ 22,000
Tembec Inc.
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Gain on bargain purchase		$ 317,000		$ 15,000
Gain on bargain purchase, tax reserve				13,000
Gain on bargain purchase, contingent liability				$ 2,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Resin Operations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Sale of resin operations			$ 18,000			$ 18,000
Gain on sale of resin operations			$ 7,000

Accounts Receivable, Net - Sch

Accounts Receivable, Net - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts	$ (805)	$ (593)
Total accounts receivable, net	197,931	181,298
Accounts receivable, trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, gross	145,343	134,523
Accounts receivable, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, gross	$ 53,393	$ 47,368

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Finished goods	$ 223,149	$ 190,140
Work-in-progress	20,468	18,889
Raw materials	77,875	82,940
Manufacturing and maintenance supplies	10,566	10,117
Total inventory	$ 332,058	$ 302,086

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Accrued customer incentives and prepayments	$ 41,528	$ 53,522
Accrued payroll and benefits	31,730	33,133
Accrued interest	10,196	3,188
Other current liabilities	52,812	37,197
Total accrued and other current liabilities	$ 136,266	$ 127,040

Debt and Capital Leases - Summa

Debt and Capital Leases - Summary of Debt (Details) - USD ($)	9 Months Ended
	Sep. 29, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt, gross	$ 1,205,825,000
Capital lease obligation	3,197,000	$ 3,409,000
Total debt principal payments due	1,209,022,000	1,246,648,000
Less: Debt premium, original issue discount and issuance costs	(4,618,000)	(5,044,000)
Total debt	1,204,404,000	1,241,604,000
Less: Current maturities of long-term debt	(12,425,000)	(9,425,000)
Long-term debt	1,191,979,000	1,232,179,000
Credit Facility | U.S. Revolver of $100 million maturing in November 2022, $91 million available after taking into account outstanding letters of credit, bearing interest at LIBOR plus 2.00% at September 29, 2018
Debt Instrument [Line Items]
Borrowing capacity	100,000,000
Borrowing capacity after outstanding letters of credit	91,000,000
Debt, gross	$ 0	0
Credit Facility | U.S. Revolver of $100 million maturing in November 2022, $91 million available after taking into account outstanding letters of credit, bearing interest at LIBOR plus 2.00% at September 29, 2018 | LIBOR
Debt Instrument [Line Items]
Basis spread	2.00%
Credit Facility | Multi-currency Revolver of $150 million maturing in November 2022, $125 million available after taking into account outstanding letters of credit, bearing interest at LIBOR plus 2.00% at September 29, 2018
Debt Instrument [Line Items]
Borrowing capacity	$ 150,000,000
Borrowing capacity after outstanding letters of credit	125,000,000
Debt, gross	$ 0	0
Credit Facility | Multi-currency Revolver of $150 million maturing in November 2022, $125 million available after taking into account outstanding letters of credit, bearing interest at LIBOR plus 2.00% at September 29, 2018 | LIBOR
Debt Instrument [Line Items]
Basis spread	2.00%
Term Loan Facility | Term A-1 Loan Facility borrowings maturing through November 2022 bearing interest at LIBOR plus 2.00%, interest rate of 4.22% at September 29, 2018
Debt Instrument [Line Items]
Interest rate	4.22%
Debt, gross	$ 160,000,000	180,000,000
Term Loan Facility | Term A-1 Loan Facility borrowings maturing through November 2022 bearing interest at LIBOR plus 2.00%, interest rate of 4.22% at September 29, 2018 | LIBOR
Debt Instrument [Line Items]
Basis spread	2.00%
Term Loan Facility | Term A-2 Loan Facility borrowings maturing through November 2024 bearing interest at LIBOR plus 1.65 (after consideration of 0.60% patronage benefit), interest rate of 4.47% at September 29, 2018
Debt Instrument [Line Items]
Patronage benefit	0.60%
Interest rate	4.47%
Debt, gross	$ 438,875,000	450,000,000
Term Loan Facility | Term A-2 Loan Facility borrowings maturing through November 2024 bearing interest at LIBOR plus 1.65 (after consideration of 0.60% patronage benefit), interest rate of 4.47% at September 29, 2018 | LIBOR
Debt Instrument [Line Items]
Basis spread after patronage benefit	1.65%
Senior Notes | Senior Notes due 2024 at a fixed interest rate of 5.50%
Debt Instrument [Line Items]
Fixed interest rate	5.50%
Debt, gross	$ 506,412,000	506,412,000
Loans | Canadian dollar, fixed interest rate term loans with rates ranging from 5.50% to 6.86% and maturity dates ranging from March 2020 through April 2028, secured by certain assets of the Temiscaming plant
Debt Instrument [Line Items]
Debt, gross	96,420,000	100,881,000
Loans | Other loans
Debt Instrument [Line Items]
Debt, gross	$ 4,118,000	$ 5,946,000
Minimum | Loans | Canadian dollar, fixed interest rate term loans with rates ranging from 5.50% to 6.86% and maturity dates ranging from March 2020 through April 2028, secured by certain assets of the Temiscaming plant
Debt Instrument [Line Items]
Fixed interest rate	5.50%
Maximum | Loans | Canadian dollar, fixed interest rate term loans with rates ranging from 5.50% to 6.86% and maturity dates ranging from March 2020 through April 2028, secured by certain assets of the Temiscaming plant
Debt Instrument [Line Items]
Fixed interest rate	6.86%

Debt and Capital Leases - Narra

Debt and Capital Leases - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017
Debt Instrument [Line Items]
Principal repayments	$ 34,141	$ 4,398
Term A-1 Loan Facility borrowings maturing through November 2022 bearing interest at LIBOR plus 2.00%, interest rate of 4.22% at September 29, 2018 | Term Loan Facility
Debt Instrument [Line Items]
Principal repayments	20,000
Term A-2 Loan Facility borrowings maturing through November 2024 bearing interest at LIBOR plus 1.65 (after consideration of 0.60% patronage benefit), interest rate of 4.47% at September 29, 2018 | Term Loan Facility
Debt Instrument [Line Items]
Principal repayments	$ 11,000

Debt and Capital Leases - Sched

Debt and Capital Leases - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Sep. 29, 2018USD ($)
Minimum Lease Payments
Remaining 2,018	$ 129
2,019	515
2,020	515
2,021	515
2,022	515
Thereafter	2,018
Total principal payments	4,207
Less: Interest
Remaining 2,018	56
2,019	209
2,020	187
2,021	163
2,022	138
Thereafter	257
Total principal payments	1,010
Net Present Value
Remaining 2,018	73
2,019	306
2,020	328
2,021	352
2,022	377
Thereafter	1,761
Total principal payments	3,197
Debt Principal Payments
Remaining 2,018	1,095
2,019	13,425
2,020	20,849
2,021	12,724
2,022	190,253
Thereafter	967,479
Total principal payments	$ 1,205,825

Liabilities for Disposed Oper_3

Liabilities for Disposed Operations - Analysis of Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2018	Dec. 31, 2017
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance, December 31, 2017	$ 164,086
Expenditures charged to liabilities	(5,549)
Increase to liabilities	4,837
Change in currency rate	(553)
Balance, September 29, 2018	162,821
Less: Current portion	(14,534)	$ (13,181)
Long-term liabilities for disposed operations	$ 148,287	$ 150,905

Liabilities for Disposed Oper_4

Liabilities for Disposed Operations - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 29, 2018USD ($)
Environmental Remediation Obligations [Abstract]
Loss exposure in excess of accrual, high estimate	$ 67
Probable costs expected to be incurred, term	20 years

Derivatives Instruments - Nota

Derivatives Instruments - Notational Amounts and Maturity Dates of Derivative Instruments (Details) - USD ($)	Sep. 29, 2018	Dec. 31, 2017
Interest Rate Swap Maturing December 2020 | Interest rate swaps
Derivative [Line Items]
Notational amount	$ 200,000,000	$ 200,000,000
Foreign Exchange Forward Contract Maturing Monthly Through June 2019 | Foreign exchange forward contracts
Derivative [Line Items]
Notational amount	398,248,070	240,591,000
Foreign Exchange Forward Contract Maturing Various Date In 2020, 2022, 2028 | Foreign exchange forward contracts
Derivative [Line Items]
Notational amount	$ 96,809,760	$ 0

Derivatives Instruments - Fair

Derivatives Instruments - Fair Value of Derivative Instruments Included in Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Total derivatives	$ 1,411	$ 1,176
Interest rate swaps | Derivatives designated as hedging instruments | Other current assets
Derivatives, Fair Value [Line Items]
Assets	1,332	0
Interest rate swaps | Derivatives designated as hedging instruments | Other assets
Derivatives, Fair Value [Line Items]
Assets	2,624	749
Foreign exchange forward contracts | Derivatives designated as hedging instruments | Other current assets
Derivatives, Fair Value [Line Items]
Assets	1,293	0
Foreign exchange forward contracts | Derivatives designated as hedging instruments | Other assets
Derivatives, Fair Value [Line Items]
Assets	756	0
Foreign exchange forward contracts | Derivatives designated as hedging instruments | Other current liabilities
Derivatives, Fair Value [Line Items]
Liabilities	(4,662)	0
Foreign exchange forward contracts | Derivatives not designated as hedging instruments | Other current assets
Derivatives, Fair Value [Line Items]
Assets	$ 68	$ 427

Derivatives Instruments - Deriv

Derivatives Instruments - Derivative Instruments Classified as Cash Flow Hedges (Details) - Cash Flow Hedging - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 29, 2018	Sep. 29, 2018
Interest Expense | Interest rate swaps
Derivative [Line Items]
Gain (Loss) Recognized in OCI on Derivative	$ 530	$ 3,095
Gain (Loss) Reclassified from AOCI into Income	74	(112)
Other operating income (expense), net | Foreign exchange forward contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI on Derivative	5,002	(5,406)
Gain (Loss) Reclassified from AOCI into Income	60	1,188
Cost of sales | Foreign exchange forward contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI on Derivative	1,399	1,466
Gain (Loss) Reclassified from AOCI into Income	(1,399)	(1,466)
Interest income and other, net | Foreign exchange forward contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI on Derivative	1,570	181
Gain (Loss) Reclassified from AOCI into Income	$ 1,529	$ 973

Derivatives Instruments - Der_2

Derivatives Instruments - Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017	Sep. 29, 2018	Sep. 23, 2017
Other operating income (expense), net | Foreign exchange forward contracts
Derivative [Line Items]
Gain (Loss) Recognized in Income on Derivative	$ (250)	$ 0	$ (3,791)	$ 0
Other non-operating income | Foreign currency collar
Derivative [Line Items]
Gain (Loss) Recognized in Income on Derivative	$ 0	$ 14,087	$ 0	$ 16,149

Derivatives Instruments - After

Derivatives Instruments - After-tax Amounts of Unrealized Gain in AOCL Related to Hedge Derivatives (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017	Sep. 23, 2017	Dec. 31, 2016
Derivative [Line Items]
Stockholder's equity	$ 776,856	$ 693,756
Unrealized gain on derivative
Derivative [Line Items]
Stockholder's equity	(317)	619	$ 0	$ 0
Cash Flow Hedging | Unrealized gain on derivative | Interest rate swaps
Derivative [Line Items]
Stockholder's equity	3,086	619
Cash Flow Hedging | Unrealized gain on derivative | Foreign exchange forward contracts
Derivative [Line Items]
Stockholder's equity	$ (3,403)	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 29, 2018	Dec. 31, 2017
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 105,976	$ 96,235
Fixed-rate long-term debt	601,806	606,529
Variable-rate long-term debt	599,400	631,666
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	105,976	96,235
Fixed-rate long-term debt	0	0
Variable-rate long-term debt	0	0
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fixed-rate long-term debt	589,486	611,308
Variable-rate long-term debt	602,993	635,946
Interest rate swaps | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	3,956	749
Interest rate swaps | Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Interest rate swaps | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	3,956	749
Foreign exchange forward contracts | Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2,117	427
Derivative liabilities	4,662	0
Foreign exchange forward contracts | Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liabilities	0	0
Foreign exchange forward contracts | Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	2,117	427
Derivative liabilities	$ 4,662	$ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017	Sep. 29, 2018	Sep. 23, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of year			$ 693,756
Total other comprehensive income	$ 6,510	$ 2,032	(4,008)	$ 6,093
Balance, end of quarter	776,856		776,856
Unrecognized components of employee benefit plans, net of tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of year			(81,638)	(110,080)
Other comprehensive income (loss) before reclassifications			0	0
Income tax on other comprehensive income (loss)			0	0
Income tax on reclassifications			(2,028)	(3,353)
Total other comprehensive income			7,193	6,093
Balance, end of quarter	(74,445)	(103,987)	(74,445)	(103,987)
Amortization of losses
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			8,907	8,989
Amortization of prior service costs
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			429	572
Amortization of negative plan amendment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			(115)	(115)
Unrealized gain on derivative instruments, net of tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of year			619	0
Other comprehensive income (loss) before reclassifications			(664)	0
Income tax on other comprehensive income (loss)			281	0
Income tax on reclassifications			30	0
Total other comprehensive income			(936)	0
Balance, end of quarter	(317)	0	(317)	0
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of year			4,868	0
Total other comprehensive income			(10,265)	0
Balance, end of quarter	(5,397)	0	(5,397)	0
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, end of quarter	$ (80,159)	$ (103,987)	(80,159)	(103,987)
Interest rate swaps | Unrealized gain on derivative instruments, net of tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			112	0
Foreign exchange forward contracts | Unrealized gain on derivative instruments, net of tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			$ (695)	$ 0

Earnings Per Share of Common _3

Earnings Per Share of Common Stock - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017	Sep. 29, 2018	Sep. 23, 2017
Earnings Per Share [Abstract]
Net income	$ 37,936	$ 15,672	$ 115,781	$ 29,887
Preferred Stock dividends	(3,441)	(3,441)	(10,284)	(10,057)
Net Income Available to Rayonier Advanced Materials Inc. Common Stockholders	$ 34,495	$ 12,231	$ 105,497	$ 19,830
Shares used for determining basic earnings per share of common stock (in shares)	50,603,498	42,427,437	51,005,206	42,388,762
Dilutive effect of:
Stock options (in shares)	3,620	0	4,127	0
Performance and restricted stock (in shares)	1,266,588	1,025,228	1,297,024	896,066
Preferred Stock (in shares)	11,371,718	12,582,057	11,371,718	0
Shares used for determining diluted earnings per share of common stock (in shares)	63,245,424	56,034,722	63,678,075	43,284,828
Basic earnings per share (in dollars per share)	$ 0.68	$ 0.29	$ 2.07	$ 0.47
Diluted earnings per share (in dollars per share)	$ 0.60	$ 0.28	$ 1.82	$ 0.46

Earnings Per Share of Common _4

Earnings Per Share of Common Stock - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017	Sep. 29, 2018	Sep. 23, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive instruments (in shares)	274,871	384,046	661,760	12,971,516
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive instruments (in shares)	263,184	376,434	263,184	376,434
Performance and restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive instruments (in shares)	11,687	7,612	398,576	13,025
Preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive instruments (in shares)	0	0	0	12,582,057

Earnings Per Share of Common _5

Earnings Per Share of Common Stock - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 29, 2018	Jan. 29, 2018
Earnings Per Share [Abstract]
Amount authorized under share repurchase program		$ 100,000,000
Shares repurchased and retired (in shares)	802,040
Shares repurchased and retired	$ 15,000,000
Shares repurchased and retired (in USD per share)	$ 18.32

Incentive Stock Plans - Narrati

Incentive Stock Plans - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Mar. 31, 2018	Sep. 29, 2018	Sep. 23, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation cost		$ 10,146	$ 6,489
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Performance-Based Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of performance shares adjusted (up or down)		25.00%
Settlement percentage	152.00%
Shares issued (in shares)	288,703
Performance-Based Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target payout percentage		0.00%
Final payout range		0.00%
Performance-Based Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target payout percentage		200.00%
Final payout range		250.00%

Incentive Stock Plans - Schedul

Incentive Stock Plans - Schedule of Outstanding Awards (Details)	9 Months Ended
	Sep. 29, 2018$ / sharesshares
Stock Options
Stock Options, Options
Beginning Balance (in shares) | shares	373,058
Granted (in shares) | shares	0
Forfeited (in shares) | shares	0
Exercised or settled (in shares) | shares	(26,045)
Expired or cancelled (in shares) | shares	(55,864)
Ending Balance (in shares) | shares	291,149
Stock Options, Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 32.25
Granted (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Exercised or settled (in dollars per share) | $ / shares	17.34
Expired or cancelled (in dollars per share) | $ / shares	30.40
Ending balance (in dollars per share) | $ / shares	$ 34.10
Restricted Stock and Stock Units
Awards Other than Options, Awards
Beginning Balance (in shares) | shares	848,371
Granted (in shares) | shares	301,384
Forfeited (in shares) | shares	(14,004)
Exercised or settled (in shares) | shares	(216,378)
Expired or cancelled (in shares) | shares	0
Ending Balance (in shares) | shares	919,373
Awards Other than Options, Weighted Average Grant Date Fair Value
Beginning balances (in dollars per share) | $ / shares	$ 12.47
Granted (in dollars per share) | $ / shares	19.78
Forfeited (in dollars per share) | $ / shares	11.64
Exercised or settled (in dollars per share) | $ / shares	17.34
Expired or cancelled (in dollars per share) | $ / shares	0
Ending balances (in dollars per share) | $ / shares	$ 13.71
Performance-Based Stock Units
Awards Other than Options, Awards
Beginning Balance (in shares) | shares	1,080,067
Granted (in shares) | shares	449,838
Forfeited (in shares) | shares	(12,247)
Exercised or settled (in shares) | shares	(190,320)
Expired or cancelled (in shares) | shares	0
Ending Balance (in shares) | shares	1,327,338
Awards Other than Options, Weighted Average Grant Date Fair Value
Beginning balances (in dollars per share) | $ / shares	$ 11.58
Granted (in dollars per share) | $ / shares	22.75
Forfeited (in dollars per share) | $ / shares	11.42
Exercised or settled (in dollars per share) | $ / shares	17.50
Expired or cancelled (in dollars per share) | $ / shares	0
Ending balances (in dollars per share) | $ / shares	$ 14.69

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017	Sep. 29, 2018	Sep. 23, 2017
Pension
Defined Benefit Plans Disclosure [Line Items]
Service cost	$ 3,059	$ 1,184	$ 9,246	$ 3,552
Interest cost	8,149	3,318	24,612	9,954
Expected return on plan assets	(13,695)	(5,548)	(41,347)	(16,645)
Amortization of prior service cost	143	190	429	571
Amortization of losses	2,913	2,913	8,735	8,739
Amortization of negative plan amendment	0	0	0	0
Total net periodic benefit cost	569	2,057	1,675	6,171
Postretirement
Defined Benefit Plans Disclosure [Line Items]
Service cost	330	236	1,404	707
Interest cost	312	198	961	594
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	0	0	0	1
Amortization of losses	57	83	172	250
Amortization of negative plan amendment	(38)	(38)	(115)	(115)
Total net periodic benefit cost	$ 661	$ 479	$ 2,422	$ 1,437

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 29, 2018	Jun. 30, 2018	Sep. 23, 2017	Sep. 29, 2018	Sep. 23, 2017
Income Tax Disclosure [Abstract]
Effective rate	22.80%		33.00%	25.70%	37.60%
Tembec Inc.
Business Acquisition [Line Items]
Gain on bargain purchase, tax reserve		$ 13

Segment Information - Segment

Segment Information - Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 29, 2018USD ($)	Sep. 23, 2017USD ($)	Sep. 29, 2018USD ($)segment	Sep. 23, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			5
Net sales	$ 544,339	$ 209,717	$ 1,608,051	$ 612,358
Operating income	56,150	18,774	168,630	60,325
Identifiable assets	2,667,770		2,667,770		$ 2,642,611
Operating Segments | High Purity Cellulose
Segment Reporting Information [Line Items]
Net sales	307,987	209,717	875,619	612,358
Operating income	33,922	30,188	83,288	95,944
Identifiable assets	1,648,355		1,648,355		1,671,107
Operating Segments | Forest Products
Segment Reporting Information [Line Items]
Net sales	85,955	0	282,237	0
Operating income	7,986	0	35,159	0
Identifiable assets	173,906		173,906		154,258
Operating Segments | Pulp
Segment Reporting Information [Line Items]
Operating income	26,035	0	74,970	0
Identifiable assets	92,469		92,469		83,081
Operating Segments | Paper
Segment Reporting Information [Line Items]
Net sales	78,373	0	238,058	0
Operating income	13,648	0	23,465	0
Identifiable assets	256,624		256,624		245,746
Operating Segments | Corporate
Segment Reporting Information [Line Items]
Operating income	(25,441)	(11,414)	(48,252)	(35,619)
Identifiable assets	496,416		496,416		$ 488,419
Eliminations
Segment Reporting Information [Line Items]
Net sales	(17,416)	0	(53,358)	0
Cellulose Specialties | Operating Segments | High Purity Cellulose
Segment Reporting Information [Line Items]
Net sales	217,538	167,341	625,864	482,124
Commodity Products | Operating Segments | High Purity Cellulose
Segment Reporting Information [Line Items]
Net sales	56,448	40,229	153,220	123,588
Other sales | Operating Segments | High Purity Cellulose
Segment Reporting Information [Line Items]
Net sales	34,001	2,147	96,535	6,646
Other sales | Operating Segments | Forest Products
Segment Reporting Information [Line Items]
Net sales	17,242	0	53,551	0
Lumber | Operating Segments | Forest Products
Segment Reporting Information [Line Items]
Net sales	68,713	0	228,686	0
High-yield pulp | Operating Segments | Pulp
Segment Reporting Information [Line Items]
Net sales	89,440	0	265,495	0
Paperboard | Operating Segments | Paper
Segment Reporting Information [Line Items]
Net sales	50,675	0	149,100	0
Newsprint | Operating Segments | Paper
Segment Reporting Information [Line Items]
Net sales	$ 27,698	$ 0	$ 88,958	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Purchase Obligations (Details) $ in Thousands	Sep. 29, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,018	$ 2,594
2,019	19,301
2,020	6,147
2,021	(85)
2,022	239
Thereafter	(878)
Total	$ 27,318

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2018employee	Sep. 29, 2018USD ($)employee
LignoTech Florida
Guarantor Obligations [Line Items]
Ownership percentage		45.00%
Borregaard ASA | LignoTech Florida
Guarantor Obligations [Line Items]
Ownership percentage		55.00%
Financial Standby Letter of Credit
Guarantor Obligations [Line Items]
Guarantees		$ 38
Surety Bonds
Guarantor Obligations [Line Items]
Guarantees		85
Contract Guarantee
Guarantor Obligations [Line Items]
Guarantees		$ 33
Unionized Employees Concentration Risk
Guarantor Obligations [Line Items]
Number of employees | employee		200
Subsequent Event | Unionized Employees Concentration Risk
Guarantor Obligations [Line Items]
Number of employees | employee	600

Supplemental Disclosures of C_3

Supplemental Disclosures of Cash Flows Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 29, 2018	Sep. 23, 2017
Cash paid (received) during the period:
Interest	$ 37,759	$ 19,056
Income taxes	12,834	5,989
Non-cash investing and financing activities:
Capital assets purchased on account	8,221	3,750
Capital lease obligation	$ 3,197	$ 3,478