Rayonier Advanced Materials (RYAM) 10-Q 5 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 26, 2021	Aug. 02, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 26, 2021
Document Transition Report	false
Entity File Number	001-36285
Entity Registrant Name	RAYONIER ADVANCED MATERIALS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4559529
Entity Address, Address Line One	1301 RIVERPLACE BOULEVARD
Entity Address, Address Line Two	SUITE 2300
Entity Address, City or Town	JACKSONVILLE
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32207
City Area Code	904
Local Phone Number	357-4600
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	RYAM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,737,353
Entity Central Index Key	0001597672
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Income Statement [Abstract]
Net Sales	$ 341,019	$ 324,170	$ 659,697	$ 648,645
Cost of Sales	(318,740)	(301,632)	(616,994)	(617,827)
Gross Margin	22,279	22,538	42,703	30,818
Selling, general and administrative expenses	(18,235)	(20,491)	(34,075)	(39,068)
Foreign exchange gains (losses)	(2,127)	(4,591)	(2,733)	1,158
Other operating income (expense), net	(540)	(3,617)	(4,992)	(5,235)
Operating Income (Loss)	1,377	(6,161)	903	(12,327)
Interest expense	(16,470)	(13,651)	(31,819)	(26,815)
Interest income and other, net	(939)	(1,036)	(1,733)	(563)
Other components of pension and OPEB, excluding service costs	(66)	(257)	742	(607)
Income (Loss) from Continuing Operations Before Income Taxes	(16,098)	(21,105)	(31,907)	(40,312)
Income tax (expense) benefit (Note 16)	24,656	17,600	24,564	18,819
Equity in income (loss) of equity method investment	(261)	0	(570)	0
Income (Loss) from Continuing Operations	8,297	(3,505)	(7,913)	(21,493)
Income (loss) from discontinued operations, net of taxes (Note 2)	113,931	(9,358)	103,114	(15,497)
Net Income (Loss)	$ 122,228	$ (12,863)	$ 95,201	$ (36,990)
Basic Earnings Per Common Share (Note 13)
Income (loss) from continuing operations (in dollars per share)	$ 0.13	$ (0.05)	$ (0.12)	$ (0.34)
Income (loss) from discontinued operations (in dollars per share)	1.79	(0.15)	1.62	(0.25)
Net income (loss) per common share-basic (in dollars per share)	1.92	(0.20)	1.50	(0.59)
Diluted Earnings Per Common Share (Note 13)
Income (loss) from continuing operations (in dollars per share)	0.13	(0.05)	(0.12)	(0.34)
Income (loss) from discontinued operations (in dollars per share)	1.76	(0.15)	1.62	(0.25)
Net income (loss) per common share-diluted (in dollars per share)	$ 1.89	$ (0.20)	$ 1.50	$ (0.59)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 122,228	$ (12,863)	$ 95,201	$ (36,990)
Other Comprehensive Income (Loss), net of tax (Note 11):
Foreign currency translation adjustments	3,046	5,888	(6,221)	(583)
Unrealized gain (loss) on derivative instruments	(1,585)	10,129	(2,853)	(10,530)
Net gain from pension and postretirement plans	3,363	2,741	6,664	9,313
Total other comprehensive income (loss)	4,824	18,758	(2,410)	(1,800)
Comprehensive Income (Loss)	$ 127,052	$ 5,895	$ 92,791	$ (38,790)

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 214,739	$ 93,653
Accounts receivable, net (Note 3)	187,882	179,208
Inventory (Note 4)	195,171	170,647
Income tax receivable	48,663	58,657
Prepaid and other current assets	68,504	58,845
Assets of discontinued operations-held for sale (Note 2)	245,643	72,562
Total current assets	960,602	633,572
Property, Plant and Equipment (net of accumulated depreciation of $1,623,146 at June 26, 2021 and $1,578,140 at December 31, 2020)	1,161,012	1,177,791
Deferred Tax Assets	342,749	382,959
Intangible Assets, net	34,937	38,441
Other Assets	149,002	156,399
Assets of discontinued operations-held for sale (Note 2)	0	140,703
Total Assets	2,648,302	2,529,865
Current Liabilities
Accounts payable	157,166	156,721
Accrued and other current liabilities (Note 6)	137,489	109,715
Debt due within one year (Note 7)	17,013	17,100
Current environmental liabilities (Note 8)	8,712	8,684
Liabilities of discontinued operations-held for sale (Note 2)	13,913	780
Total current liabilities	334,293	293,000
Long-Term Debt (Note 7)	1,063,739	1,066,837
Long-Term Environmental Liabilities (Note 8)	162,384	162,995
Pension and Other Postretirement Benefits	246,681	251,391
Deferred Tax Liabilities	23,822	24,462
Other Long-Term Liabilities	30,542	24,279
Liabilities of Discontinued Operations-Held for Sale (Note 2)	0	11,814
Commitments and Contingencies (Note 18)
Stockholders’ Equity
Common stock, 140,000,000 shares authorized at $0.01 par value, 63,737,356 and 63,359,839 issued and outstanding, as of June 26, 2021 and December 31, 2020, respectively	637	633
Additional paid-in capital	404,120	405,161
Retained earnings	518,129	422,928
Accumulated other comprehensive income (loss) (Note 11)	(136,045)	(133,635)
Total Stockholders’ Equity	786,841	695,087
Total Liabilities and Stockholders’ Equity	$ 2,648,302	$ 2,529,865

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accumulated deprecation	$ 1,623,146	$ 1,578,140
Common stock, shares authorized (in shares)	140,000,000	140,000,000
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	63,737,356	63,359,839
Common stock, shares outstanding (in shares)	63,737,356	63,359,839

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Operating Activities
Net income (loss)	$ 95,201	$ (36,990)
Income (loss) from discontinued operations	(103,114)	15,497
Adjustments to reconcile income (loss) from continuing operations to cash provided by operating activities:
Depreciation and amortization	65,728	67,235
Stock-based incentive compensation expense	317	5,074
Deferred income tax expense (benefit)	(23,290)	3,952
Net periodic benefit cost of pension and other postretirement plans	5,163	5,762
Unrealized loss (gain) on derivative instruments	(3,885)	2,311
Unrealized loss (gain) from foreign currency	5,236	(7,054)
Other	(145)	270
Changes in operating assets and liabilities:
Receivables	(13,283)	4,851
Inventories	(25,231)	1,335
Accounts payable	6,126	6,058
Accrued liabilities	27,555	12,001
All other operating activities	12,943	(51,925)
Contributions to pension and other postretirement plans	(3,535)	(5,783)
Cash Provided by Operating Activities-continuing operations	45,786	22,594
Cash Provided by (Used for) Operating Activities-discontinued operations	140,633	(11,523)
Cash Provided by Operating Activities	186,419	11,071
Investing Activities
Capital expenditures, net	(47,048)	(19,169)
Investment in equity method investment	(4,013)	0
Cash Used for Investing Activities-continuing operations	(51,061)	(19,169)
Cash Used for Investing Activities-discontinued operations	(5,758)	(3,428)
Cash Used for Investing Activities	(56,819)	(22,597)
Financing Activities
Revolving credit facility and other borrowings	0	10,561
Repayments of revolving credit and other facilities	0	(8,000)
Repayment of long-term debt	(4,651)	(2,359)
Short-term financing, net	(1,296)	0
Common stock repurchased	(1,423)	(438)
Debt issue costs	(449)	(3,378)
Cash Used for Financing Activities	(7,819)	(3,614)
Cash and Cash Equivalents
Change in cash and cash equivalents	121,781	(15,140)
Net effect of foreign exchange on cash and cash equivalents	(695)	(146)
Balance, beginning of year	93,653	64,025
Balance, end of period	$ 214,739	$ 48,739

Basis of Presentation and New A

Basis of Presentation and New Accounting Pronouncements	6 Months Ended
	Jun. 26, 2021
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 consolidated financial statements and notes thereto of Rayonier Advanced Materials Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) 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 consolidated 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 consolidated financial statements and supplementary data included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on March 1, 2021. On April 12, 2021, the Company announced the sale of its lumber and newsprint assets (the “Purchased Assets”) located in Ontario and Québec Canada to GreenFirst Forest Products, Inc. (“GreenFirst”). As a result of the announced sale of its lumber and newsprint assets, these operations have been presented as discontinued operations and the Company has reclassified certain prior year amounts to conform to this presentation. Unless otherwise stated, information in these notes to consolidated financial statements relates to continuing operations. The Company presents businesses that represent components as discontinued operations when they meet the criteria for held for sale or are sold, and their disposal represents a strategic shift that has, or will have, a major effect on our operations and financial results. See Note 2 — Discontinued Operations for additional information. Coronavirus Pandemic During 2020, the Company’s businesses were significantly impacted by the coronavirus ("COVID-19") pandemic. While market demand and pricing for certain of the Company’s products began to recover towards the end of the year and continued to improve throughout the first half of 2021, the Company's operations remain vulnerable to a reversal of these trends or other continuing negative effects caused by COVID-19. In its operating facilities and work spaces, the Company continues to maintain protocols previously implemented to reduce the potential spread of COVID-19 and ensure the safety of its employees and continuity of operations. New or Recently Adopted Accounting Pronouncements There have been no new or recently adopted accounting pronouncements impacting the Company’s unaudited consolidated interim financial statements. Subsequent Events Events and transactions subsequent to the consolidated balance sheets date have been evaluated for potential recognition and disclosure through the date of issuance of these Consolidated Financial Statements. The following subsequent event warranting disclosure was identified.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 26, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On April 12, 2021, the Company announced the sale of its lumber and newsprint assets (the “Purchased Assets”) located in Ontario and Québec Canada to GreenFirst Forest Products, Inc. (“GreenFirst”), for approximately $214 million, including an assumed $74 million associated with finished goods, work-in-process and raw materials inventory value, which is subject to dollar-for-dollar fluctuation until closing. The purchase price will be paid 85 percent in cash and the remainder in common shares of GreenFirst, to be held for a minimum of six months. In addition, a credit note will be issued to the Company by GreenFirst in the amount of CDN$8 million, which may be offset against amounts owed to GreenFirst in the future for wood chip purchases, equally over the next 5 years. The closing of the transaction is expected to occur on August 28, 2021. The sale completes the strategic portfolio optimization plans for the Company. The Purchased Assets include the Company’s six lumber facilities, newsprint facility, inventory and certain real property, machinery, permits, leases, licenses, pension assets and liabilities and other related assets associated with the successful operations of these businesses. Other assets and liabilities, including accounts receivable, accounts payable, certain retained inventory and rights and obligations to softwood lumber duties, generated or incurred through the closing date, are excluded. Since 2017, the Company has paid a total of $108 million in duties. In connection with the transaction, the Company will enter into a 20-year wood chip and residual fiber supply agreement with GreenFirst, securing supply for the Company’s operations at the Temiscaming plant. Additionally, the parties entered into a Transition Services Agreement ("TSA") whereby the Company will provide certain transitional services to GreenFirst, for a period of time following the closing of the transaction, not to exceed twelve months from such date. The TSA includes support related to information technology, accounting, treasury, human resources and payroll, tax, supply chain and procurement functions. Costs incurred by the Company associated with the TSA will be reimbursed by GreenFirst. As of June 26, 2021, the carrying value of the net assets included in the transaction was $232 million, including the carrying value of inventory which was $93 million. The Company expects a cash tax impact in 2021 and 2022 totaling less than $5 million as a result of this transaction, although the full extent of tax impacts are still being evaluated. Income (loss) from discontinued operations is comprised of the following: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Net sales (a) $ 212,376 $ 72,583 $ 358,838 $ 157,916 Cost of sales (86,961) (74,907) (169,688) (158,057) Gross margin 125,415 (2,324) 189,150 (141) Selling, general and administrative expenses and other (10,428) (6,935) (18,894) (14,958) Operating income (loss) 114,987 (9,259) 170,256 (15,099) Interest expense (b) (2,703) (2,110) (5,317) (4,172) Other non-operating income 368 604 713 1,257 Income (loss) from discontinued operations before income taxes 112,652 (10,765) 165,652 (18,014) Income tax benefit (expense) 1,279 1,343 (62,538) 1,745 Income (loss) from discontinued operations, net of taxes $ 113,931 $ (9,422) $ 103,114 $ (16,269) Gain from sale of discontinued operation, pre-tax — — — 955 Income tax benefit (expense) on gain 64 — (183) Gain from sale of discontinued operations, net of tax (c) — 64 — 772 Income (Loss) from Discontinued Operations $ 113,931 $ (9,358) $ 103,114 $ (15,497) (a) Net of intercompany sales of $10 million and $9 million for three months ended June 26, 2021 and June 27, 2020, respectively, and $22 million and $22 million for the six months ended June 26, 2021 and June 27, 2020, respectively. (b) The Company has allocated interest expense to discontinued operations based on the portion of debt not attributable to other operations that it expects to repay as a result of the transaction. (c) Also included in income from discontinued operations for the three and six months ended June 27, 2020 is income of $64 thousand and $772 thousand, respectively, from working capital adjustments that arose following the closing of the November 2019 sale of the Company’s Matane, Quebec pulp mill. Other discontinued operations information is as follows: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Depreciation and amortization $ — $ 2,957 $ 3,173 $ 5,782 Capital expenditures $ 2,326 $ (187) $ 5,814 $ 3,428 The following table presents the major classes of assets and liabilities of discontinued operations that are classified as held for sale: June 26, 2021 December 31, 2020 Inventory $ 92,624 $ 62,837 Prepaid and other current assets 9,446 9,725 Total current assets 102,070 72,562 Property, plant and equipment, net 97,980 97,151 Other assets 45,593 43,552 Total assets $ 245,643 $ 213,265 Accrued and other current liabilities $ 933 $ 780 Total current liabilities 933 780 Pension and Other Postretirement Benefits 9,578 9,316 Other long-term liabilities 3,402 2,498 Total liabilities $ 13,913 $ 12,594 As of June 26, 2021, the assets and liabilities are classified as current in the Company’s consolidated balance sheet as the transaction is expected to close within one year. As of June 26, 2021, collective bargaining agreements covering approximately 400 unionized employees in Canada working in the lumber and newsprint operations had expired. 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 the unions, for the benefit of GreenFirst. However, a work stoppage could have a significant negative effect on these operations, including results of operations and financial condition.

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 26, 2021
Receivables [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net The Company’s accounts receivable included the following: June 26, 2021 December 31, 2020 Accounts receivable, trade $ 154,417 $ 140,036 Accounts receivable, other (a) 33,900 39,659 Allowance for expected credit losses (435) (487) Total accounts receivable, net $ 187,882 $ 179,208 (a) Accounts receivable, other consists primarily of value added/consumption taxes, grants receivable and accrued billings due from government agencies.

Inventory

Inventory	6 Months Ended
	Jun. 26, 2021
Inventory Disclosure [Abstract]
Inventory	Inventory The Company’s inventory included the following: June 26, 2021 December 31, 2020 Finished goods $ 141,586 $ 119,549 Work-in-progress 4,968 2,242 Raw materials 44,654 43,697 Manufacturing and maintenance supplies 3,963 5,159 Total inventory $ 195,171 $ 170,647

Leases

Leases	6 Months Ended
	Jun. 26, 2021
Leases [Abstract]
Leases	Leases The Company’s operating and finance leases are primarily for corporate offices, warehouse space, rail cars and equipment. As of June 26, 2021, the Company’s leases have remaining lease terms of 1 year to 7.7 years with standard renewal and termination options available at the Company’s discretion. Certain equipment leases have purchase options at the end of the term of the lease, which are not included in the Right of Use (“ROU”) assets as it is not reasonably certain that the Company will exercise such options. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company uses its incremental borrowing rate in determining the present value of lease payments unless the lease provides an implicit or explicit interest rate. The weighted average discount rate used in determining the operating lease ROU assets and liabilities as of June 26, 2021 and December 31, 2020 was 6.1 percent and 6.1 percent, respectively. The weighted average discount rate used in determining the finance lease ROU assets and liabilities as of June 26, 2021 and December 31, 2020 was 7.0 percent. The Company’s operating and finance lease cost is as follows: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Operating Leases Operating lease expense $ 1,423 $ 1,499 $ 2,838 $ 2,991 Finance Leases Amortization of ROU assets 87 81 173 161 Interest 42 47 85 96 Total $ 1,552 $ 1,627 $ 3,096 $ 3,248 As of June 26, 2021, the weighted average remaining lease term is 3.1 years and 5.4 years for operating leases and financing leases, respectively. As of December 31, 2020, the weighted average remaining lease term is 3.5 years and 5.9 years for operating leases and finance leases, respectively. Cash provided by operating activities includes approximately $3 million and $3 million from operating lease payments made during the six months ended June 26, 2021 and June 27, 2020, respectively. Finance lease cash flows were immaterial during the six months ended June 26, 2021 and June 27, 2020. As of June 26, 2021 and December 31, 2020, assets acquired under finance leases of $2 million and $2 million, respectively, are reflected in Property, Plant and Equipment, net. The Company’s finance leases are included as debt and the maturities for the remainder of 2021 and the next four years and thereafter are included in Note 7 — Debt and Finance Leases . The Company’s consolidated balance sheet includes the following operating lease assets and liabilities: Balance Sheet Classification June 26, 2021 December 31, 2020 Right-of-use assets Other assets $ 14,084 $ 15,847 Lease liabilities, current Accrued and other current liabilities $ 5,301 $ 4,886 Lease liabilities, non-current Other long-term liabilities $ 9,922 $ 11,974 As of June 26, 2021, operating lease maturities for the remainder of 2021 through 2025 and thereafter are as follows: June 26, 2021 Remainder of 2021 $ 3,024 2022 5,978 2023 5,089 2024 1,498 2025 657 Thereafter 476 Total minimum lease payments $ 16,722 Less: imputed interest (1,499) Present value of future minimum lease payments $ 15,223
Leases	Leases The Company’s operating and finance leases are primarily for corporate offices, warehouse space, rail cars and equipment. As of June 26, 2021, the Company’s leases have remaining lease terms of 1 year to 7.7 years with standard renewal and termination options available at the Company’s discretion. Certain equipment leases have purchase options at the end of the term of the lease, which are not included in the Right of Use (“ROU”) assets as it is not reasonably certain that the Company will exercise such options. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company uses its incremental borrowing rate in determining the present value of lease payments unless the lease provides an implicit or explicit interest rate. The weighted average discount rate used in determining the operating lease ROU assets and liabilities as of June 26, 2021 and December 31, 2020 was 6.1 percent and 6.1 percent, respectively. The weighted average discount rate used in determining the finance lease ROU assets and liabilities as of June 26, 2021 and December 31, 2020 was 7.0 percent. The Company’s operating and finance lease cost is as follows: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Operating Leases Operating lease expense $ 1,423 $ 1,499 $ 2,838 $ 2,991 Finance Leases Amortization of ROU assets 87 81 173 161 Interest 42 47 85 96 Total $ 1,552 $ 1,627 $ 3,096 $ 3,248 As of June 26, 2021, the weighted average remaining lease term is 3.1 years and 5.4 years for operating leases and financing leases, respectively. As of December 31, 2020, the weighted average remaining lease term is 3.5 years and 5.9 years for operating leases and finance leases, respectively. Cash provided by operating activities includes approximately $3 million and $3 million from operating lease payments made during the six months ended June 26, 2021 and June 27, 2020, respectively. Finance lease cash flows were immaterial during the six months ended June 26, 2021 and June 27, 2020. As of June 26, 2021 and December 31, 2020, assets acquired under finance leases of $2 million and $2 million, respectively, are reflected in Property, Plant and Equipment, net. The Company’s finance leases are included as debt and the maturities for the remainder of 2021 and the next four years and thereafter are included in Note 7 — Debt and Finance Leases . The Company’s consolidated balance sheet includes the following operating lease assets and liabilities: Balance Sheet Classification June 26, 2021 December 31, 2020 Right-of-use assets Other assets $ 14,084 $ 15,847 Lease liabilities, current Accrued and other current liabilities $ 5,301 $ 4,886 Lease liabilities, non-current Other long-term liabilities $ 9,922 $ 11,974 As of June 26, 2021, operating lease maturities for the remainder of 2021 through 2025 and thereafter are as follows: June 26, 2021 Remainder of 2021 $ 3,024 2022 5,978 2023 5,089 2024 1,498 2025 657 Thereafter 476 Total minimum lease payments $ 16,722 Less: imputed interest (1,499) Present value of future minimum lease payments $ 15,223

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	6 Months Ended
	Jun. 26, 2021
Payables and Accruals [Abstract]
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities The Company’s accrued and other current liabilities included the following: June 26, 2021 December 31, 2020 Accrued customer incentives and prepayments $ 28,769 $ 29,387 Accrued payroll and benefits 32,509 21,500 Accrued interest 22,073 3,230 Accrued income taxes 4,996 5,052 Accrued stumpage 2,072 10,045 Accrued property and other taxes 7,941 3,995 Other current liabilities 39,129 36,506 Total accrued and other current liabilities $ 137,489 $ 109,715

Debt and Finance Leases

Debt and Finance Leases	6 Months Ended
	Jun. 26, 2021
Debt Disclosure [Abstract]
Debt and Finance Leases	Debt and Finance Leases The Company’s debt and finance leases included the following: June 26, 2021 December 31, 2020 ABL Credit Facility due 2025, $124 million available, bearing interest 0.25% LIBOR floor plus 2.75%, interest rate of 3.00% at June 26, 2021 — — Senior Secured Notes due 2026 at a fixed interest rate of 7.625% $ 500,000 $ 500,000 Senior Notes due 2024 at a fixed interest rate of 5.5% 495,647 495,647 Canadian dollar, fixed interest rate term loans with rates ranging from 5.5% to 6.86% and maturity dates ranging from July 2022 through April 2028, secured by certain assets of the Temiscaming mill 72,983 73,791 Other loans (a) 16,605 18,193 Short-term factoring facility-France 3,730 5,089 Finance lease obligation 2,317 2,489 Total debt principal payments due 1,091,282 1,095,209 Less: Debt premium, original issue discount and issuance costs, net (10,530) (11,272) Total debt 1,080,752 1,083,937 Less: Debt due within one year (17,013) (17,100) Long-term debt $ 1,063,739 $ 1,066,837 (a) Primarily loans for energy projects in France. As of June 26, 2021, debt and finance lease payments due during the remainder of 2021, the next four years and thereafter are as follows: Finance Lease Payments Debt Principal Payments Remainder of 2021 $ 258 $ 11,041 2022 515 31,082 2023 515 10,533 2024 515 506,100 2025 515 10,495 Thereafter 472 519,714 Total principal payments $ 2,790 $ 1,088,965 Less: Imputed interest 473 Present value minimum finance lease payments $ 2,317

Environmental Liabilities

Environmental Liabilities	6 Months Ended
	Jun. 26, 2021
Environmental Remediation Obligations [Abstract]
Environmental Liabilities	Environmental Liabilities An analysis of liabilities for the six months ended June 26, 2021 is as follows: Balance, December 31, 2020 $ 171,679 Increase in liabilities 1,168 Payments (2,165) Foreign currency adjustments 414 Balance, June 26, 2021 171,096 Less: Current portion (8,712) Long-term environmental liabilities $ 162,384 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 environmental liability 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 June 26, 2021, the Company estimates this exposure could range up to approximately $78 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 environmental liabilities. 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	6 Months Ended
	Jun. 26, 2021
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. In December 2020, the Company terminated all outstanding derivative instruments, which had been previously designated as hedging instruments and had various maturity dates through 2028. Accumulated gains and losses associated with these instruments were deferred as a component of accumulated other comprehensive income (loss), totaling a net after tax gain of $2 million as of December 31, 2020, to be recognized in earnings as the underlying hedged transactions occur and affect earnings. During the three and six months ended June 26, 2021, the Company recognized after-tax gains of $1.6 million and $2.9 million, respectively, associated with the deferred component in accumulated other comprehensive income (loss) related to these settlements. A $1.0 million net after-tax loss remains deferred within accumulated other comprehensive income (loss) as of June 26, 2021, which will be recognized in earnings as the underlying hedged transactions occur and affect earnings. Interest Rate Risk The Company’s current debt obligations are primarily fixed and therefore not materially exposed to variability in interest payments due to changes in interest rates. The Company previously entered into interest rate swap agreements to reduce the volatility of interest expense, 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 had designated the swaps as cash flow hedges and assesses 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. Ineffective gains and losses are classified to earnings immediately. There was no hedge ineffectiveness during 2020. 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 may use foreign currency forward contracts to selectively hedge its foreign currency cash flows 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 effects of derivatives designated as hedging instruments, the related changes in AOCI and the gains and losses in income is as follows: Three Months Ended June 26, 2021 Derivatives Designated as Hedging Instruments Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Foreign exchange forward contracts $ — $ 2,260 Cost of sales Foreign exchange forward contracts $ — $ (102) Interest income and other, net Three Months Ended June 27, 2020 Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Interest rate swaps $ (225) $ (716) Interest expense Foreign exchange forward contracts $ 5,914 $ 367 Other operating income (expense), net Foreign exchange forward contracts $ 3,863 $ (3,863) Cost of sales Foreign exchange forward contracts $ 2,192 $ 2,135 Interest income and other, net Six Months Ended June 26, 2021 Derivatives Designated as Hedging Instruments Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Foreign exchange forward contracts $ — $ 4,088 Cost of sales Foreign exchange forward contracts $ — $ (202) Interest income and other, net Six Months Ended June 27, 2020 Derivatives Designated as Hedging Instruments Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Interest rate swaps $ (1,982) $ (836) Interest expense Foreign exchange forward contracts $ (20,618) $ (994) Other operating income (expense), net Foreign exchange forward contracts $ 3,469 $ (3,469) Cost of sales Foreign exchange forward contracts $ (4,710) $ (4,597) Interest income and other, net The effects of derivative instruments not designated as hedging instruments on the consolidated statement of income were as follows: Three Months Ended Six Months Ended Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Foreign exchange forward contracts Other operating income (expense), net $ — $ 18 $ — $ (703) The after-tax amounts of unrealized gains (losses) in AOCI related to hedge derivatives are presented below: June 26, 2021 December 31, 2020 Foreign exchange cash flow hedges $ (1,019) $ 1,834 The amount of future reclassifications from AOCI will fluctuate with movements in the underlying markets.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 26, 2021
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, using market information and what management believes to be appropriate valuation methodologies: June 26, 2021 December 31, 2020 Carrying Fair Value Carrying Fair Value Assets: Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents $ 214,739 $ 214,739 $ — $ 93,653 $ 93,653 $ — Liabilities (a): Fixed-rate long-term debt 1,074,705 — 1,093,500 1,076,359 — 1,050,287 (a) Liabilities exclude finance 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. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 26, 2021
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: Six Months Ended June 26, 2021 June 27, 2020 Unrecognized components of employee benefit plans, net of tax: Balance, beginning of year $ (146,614) $ (126,638) Other comprehensive gain (loss) before reclassifications — 4,781 Income tax on other comprehensive loss — (1,238) Reclassifications to earnings: (a) Pension settlement loss 111 — Amortization of losses 8,169 6,764 Amortization of prior service costs 276 280 Income tax on reclassifications (1,892) (1,274) Net comprehensive gain (loss) on employee benefit plans, net of tax 6,664 9,313 Balance, end of period (139,950) (117,325) Unrealized gain (loss) on derivative instruments, net of tax: Balance, beginning of year 1,834 1,290 Other comprehensive gain (loss) before reclassifications — (23,841) Income tax on other comprehensive income — 5,487 Reclassifications to earnings: (b) Interest rate contracts — 836 Foreign exchange contracts (3,886) 9,060 Income tax on reclassifications 1,033 (2,072) Net comprehensive gain (loss) on derivative instruments, net of tax (2,853) (10,530) Balance, end of period (1,019) (9,240) Foreign currency translation adjustments: Balance, beginning of year 11,145 (13,879) Foreign currency translation adjustment, net of tax of $0 and $0 (6,221) (583) Balance, end of period 4,924 (14,462) Accumulated other comprehensive income (loss), end of quarter $ (136,045) $ (141,027) (a) The AOCI components for defined benefit pension and post-retirement plans are included in the computation of net periodic benefit cost. See Note 15— 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 9 — Derivative Instruments

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 26, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity An analysis of stockholders’ equity is shown below (share amounts not in thousands): Common Stock Additional Paid in Capital Retained Accumulated Other Comprehensive Loss Total Stockholders’ Shares Par Value For the six months ended June 26, 2021 Balance, January 1, 2021 63,359,839 $ 633 $ 405,161 $ 422,928 $ (133,635) $ 695,087 Net income (loss) — — — 95,201 — 95,201 Other comprehensive income (loss), net of tax — — — — (2,410) (2,410) Issuance of common stock under incentive stock plans 509,713 5 (5) — — — Stock-based compensation — — 385 — — 385 Repurchase of common shares (a) (132,196) (1) (1,421) — — (1,422) Balance June 26, 2021 63,737,356 $ 637 $ 404,120 $ 518,129 $ (136,045) $ 786,841 For the three months ended June 26, 2021 Balance March 27, 2021 63,597,356 $ 636 $ 403,086 $ 395,901 $ (140,869) $ 658,754 Net income (loss) — — — 122,228 — 122,228 Other comprehensive income (loss), net of tax — — — — 4,824 4,824 Issuance of common stock under incentive stock plans 140,000 1 (1) — — — Stock-based compensation — — 1,038 — — 1,038 Repurchase of common shares (a) — — (3) — — (3) Balance, June 26, 2021 63,737,356 $ 637 $ 404,120 $ 518,129 $ (136,045) $ 786,841 For the six months ended June 27, 2020 Balance, January 1, 2020 63,136,129 $ 632 $ 399,020 $ 422,373 $ (139,227) $ 682,798 Net income (loss) — — — (36,990) — (36,990) Other comprehensive income (loss), net of tax — — — — (1,800) (1,800) Issuance of common stock under incentive stock plans 396,753 3 (4) — — (1) Stock-based compensation — — 5,157 — — 5,157 Repurchase of common shares (a) (185,556) (2) (436) — — (438) Balance June 27, 2020 63,347,326 $ 633 $ 403,737 $ 385,383 $ (141,027) $ 648,726 For the three months ended June 27, 2020 Balance, March 28, 2020 63,246,867 $ 632 $ 400,525 $ 398,246 $ (159,785) $ 639,618 Net income (loss) — — — (12,863) — (12,863) Other comprehensive income (loss), net of tax — — — — 18,758 18,758 Issuance of common stock under incentive stock plans 106,064 1 (2) — — (1) Stock-based compensation — — 3,214 — — 3,214 Repurchase of common shares (a) (5,605) — — — — — Balance, June 27, 2020 63,347,326 $ 633 $ 403,737 $ 385,383 $ (141,027) $ 648,726 (a) Repurchased to satisfy the tax withholding requirements related to the issuance of stock under the Rayonier Advanced Materials Incentive Stock Plan. Common Stock Buyback 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 three months ended June 26, 2021 and June 27, 2020, the Company did not repurchase any common shares under this buyback program. As of June 26, 2021, there was approximately $60 million of share repurchase authorization remaining under the program. The Company does not expect to utilize any further authorization in the near future.

Earnings Per Share of Common St

Earnings Per Share of Common Stock	6 Months Ended
	Jun. 26, 2021
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 Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Income (loss) from continuing operations $ 8,297 $ (3,505) $ (7,913) $ (21,493) Income (loss) from discontinued operations 113,931 (9,358) 103,114 (15,497) Net income (loss) available for common stockholders $ 122,228 $ (12,863) $ 95,201 $ (36,990) Shares used for determining basic earnings per share of common stock 63,654,278 63,235,151 63,545,599 63,111,058 Dilutive effect of: Stock options — — — — Performance and restricted stock 1,159,735 — — — Shares used for determining diluted earnings per share of common stock 64,814,013 63,235,151 63,545,599 63,111,058 Basic per share amounts Income (loss) from continuing operations $ 0.13 $ (0.05) $ (0.12) $ (0.34) Income (loss) from discontinued operations 1.79 (0.15) 1.62 (0.25) Net income (loss) $ 1.92 $ (0.20) $ 1.50 $ (0.59) Diluted per share amounts Income (loss) from continuing operations $ 0.13 $ (0.05) $ (0.12) $ (0.34) Income (loss) from discontinued operations 1.76 (0.15) 1.62 (0.25) Net income (loss) $ 1.89 $ (0.20) $ 1.50 $ (0.59) Anti-dilutive instruments excluded from the computation of diluted earnings per share: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Stock options 122,525 153,977 122,525 153,977 Performance and restricted stock 655,540 2,691,362 2,286,865 2,691,362 Total anti-dilutive instruments 778,065 2,845,339 2,409,390 2,845,339

Incentive Stock Plans

Incentive Stock Plans	6 Months Ended
	Jun. 26, 2021
Share-based Payment Arrangement [Abstract]
Incentive Stock Plans	Incentive Stock PlansThe Company’s total stock-based compensation expense for the three months ended June 26, 2021 and June 27, 2020 was $1 million and $3 million, respectively. Stock-based compensation expense for the six months ended June 26, 2021 and June 27, 2020 was $385 thousand and $5 million, respectively. The Company made new grants of restricted stock units and performance-based stock units to certain employees during the first six months of 2021. The 2021 restricted stock unit awards cliff vest after three years. The 2021 performance-based stock unit awards measure total shareholder return (“TSR”) on an absolute basis and relative to peers. Participants can earn between 0 and 200 percent of the target award. Performance below the threshold for the absolute TSR would result in a 0 payout for the TSR metric. There is a performance-based stock award and cash unit stock award that will be measured using the same objectives but paid and accounted for separately. As required by Accounting Standards Codification 718, Compensation-Stock Compensation, the portion of the award to be settled in cash is classified as a liability and remeasured to fair value at the end of each reporting period until settlement. In March 2021, the performance-based share units granted in 2018 were settled at an average of 60 percent of the performance-based stock units awarded, resulting in the issuance of 182,811 shares of common stock. The following table summarizes the activity on the Company’s incentive stock awards for the six months ended June 26, 2021: Stock Options Restricted 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, 2021 152,281 $ 38.26 828,955 $ 10.27 1,821,402 $ 8.77 Granted — — 551,476 9.76 136,061 17.61 Forfeited — — (108,986) 11.68 (312,697) 8.92 Exercised or settled — — (326,830) 13.50 (302,516) 22.76 Expired or cancelled (29,756) 33.39 — — — — Outstanding at June 26, 2021 122,525 $ 39.44 944,615 $ 8.69 1,342,250 $ 6.48

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 26, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has defined benefit pension and other long-term and postretirement benefit 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. The liabilities for these plans are calculated using actuarial estimates and management assumptions. These estimates are based on historical information, along with certain assumptions about future events. During 2019, the Company settled certain Canadian pension liabilities through the purchase of annuity contracts with an insurance company. The settlement resulted in the recognition of a $1 million loss during the three and six months ended June 26, 2021. The settlement was recognized in “Other components of net periodic benefit costs” in our Consolidated Statement of Income and Comprehensive Income for the three and six months ended June 26, 2021. The components of net periodic benefit costs from these 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 June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Service cost $ 2,600 $ 2,207 $ 363 $ 316 Interest cost 4,446 5,844 176 149 Expected return on plan assets (9,673) (9,246) — — Amortization of prior service cost 177 178 (38) (38) Amortization of losses 4,086 3,427 2 (57) Pension settlement loss (gain) 890 — — — Total net periodic benefit cost $ 2,526 $ 2,410 $ 503 $ 370 Pension Postretirement Six Months Ended Six Months Ended Components of Net Periodic Benefit Cost June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Service cost $ 5,181 $ 4,482 $ 725 $ 674 Interest cost 8,851 11,748 351 428 Expected return on plan assets (19,279) (18,612) — — Amortization of prior service cost 352 357 (76) (77) Amortization of losses 8,163 6,854 6 (91) Pension settlement loss (gain) 890 — — — Total net periodic benefit cost $ 4,158 $ 4,829 $ 1,006 $ 934 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 and amortization of losses are included in other components of pension and OPEB, excluding service cost on the consolidated statement of income.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 26, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax benefit rate from continuing operations for the three and six months ended June 26, 2021 was 153 percent and 77 percent, respectively, compared with a benefit rate of 83 percent and 47 percent for the three and six months ended June 27, 2020, respectively. The current quarter and year to date June 26, 2021 effective rate differs from the federal statutory rate of 21 percent primarily due to a tax benefit recognized by remeasuring the Company’s Canadian deferred tax assets at a higher Canadian blended statutory tax rate. The statutory tax rate is higher as a result of changing the allocation of income between the Canadian provinces once the sale of FPG and Newsprint is completed. Other factors impacting the effective benefit rate are return to accrual adjustments and tax credits, partially offset by nondeductible interest expense in the U.S. and lower tax deductions on vested stock compensation. The effective tax rate benefit for the period ended June 27, 2020 differs from the federal statutory rate primarily due to the release of certain valuation allowances related to nondeductible interest expense, benefits from the CARES Act, return to accrual adjustments and tax credits, partially offset by nondeductible interest expense in the U.S., taxable income generated from the 2020 credit agreement amendment, increases to uncertain tax position reserves, nondeductible executive compensation, and lower tax deductions on vested stock compensation.

Segment and Geographical Inform

Segment and Geographical Information	6 Months Ended
	Jun. 26, 2021
Segment Reporting [Abstract]
Segment and Geographical Information	Segment and Geographical Information As a result of the announced sale of the Company’s lumber and newsprint assets, the Company operates in the following business segments: High Purity Cellulose, Paperboard, High-Yield Pulp 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 allocates a portion of 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 High-Yield Pulp sales to Paperboard. Intersegment sales prices are at rates that approximate market for the respective operating area. Net sales, disaggregated by product-line, was comprised of the following: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 High Purity Cellulose Cellulose Specialties $ 167,576 $ 161,075 $ 335,413 $ 321,310 Commodity Products 62,384 75,428 121,317 141,951 Other sales (a) 24,639 18,552 47,630 41,371 Total High Purity Cellulose 254,599 255,055 504,360 504,632 Paperboard Paperboard 56,762 43,144 104,611 93,630 High-Yield Pulp High-Yield Pulp 36,786 31,847 64,330 61,822 Eliminations (7,128) (5,876) (13,604) (11,439) Total net sales $ 341,019 $ 324,170 $ 659,697 $ 648,645 (a) Other sales include sales of electricity, lignin and other by-products to third-parties Operating income (loss) by segment was comprised of the following: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 High Purity Cellulose $ 10,623 $ 6,721 $ 17,051 $ 1,863 Paperboard 2,441 6,261 8,196 10,936 High-Yield Pulp 1,079 570 538 (476) Corporate (12,766) (19,713) (24,882) (24,650) Total operating income (loss) $ 1,377 $ (6,161) $ 903 $ (12,327) Identifiable assets by segment were as follows: June 26, 2021 December 31, 2020 High Purity Cellulose $ 1,540,743 $ 1,528,929 Paperboard 120,125 129,871 High-Yield Pulp 38,985 33,259 Corporate and other (a) 702,806 624,541 Assets Held for Sale 245,643 213,265 Total identifiable assets $ 2,648,302 $ 2,529,865

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 26, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments The Company has no material changes to the purchase obligations presented in Note 22 — Commitments and Contingencies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on March 1, 2021, that are outside the normal course of business for the three months ended June 26, 2021. The Company’s purchase obligations continue to primarily consist of commitments for the purchase of natural gas, steam energy and electricity contracts entered into within the normal course of business. The Company leases certain buildings, machinery and equipment under various operating leases. See Note 5 — Leases , for additional information. Litigation and Contingencies Final Settlement Reached in Dispute with IESO Relating to Investigation of the Kapuskasing Newsprint Facility. From the period from 2014 to early 2021, the Market Assessment and Compliance Division (“MACD”) branch of the Independent Electricity System Operator (“IESO”), the governmental agency responsible for operating the wholesale electricity market and directing the operation of the bulk electrical system in the province of Ontario, Canada, had been engaged in reviewing the Company's compliance with the published rules that govern the operation of the wholesale electricity market in Ontario, Canada. The inquiry was focused primarily on payments made by IESO to the Company between 2010 and 2019 under market rules in connection with multiple planned, extended and unplanned forced outages that caused extensive downtime, in full or in part, of the Company’s Kapuskasing, Ontario newsprint facility. In May 2020, MACD finalized two of its four investigations into the Company’s electricity management practices at its Kapuskasing newsprint facility and issued orders asserting penalties of CAD $25 million. These orders called for the Company to pay penalties of CAD $3 million immediately and CAD $12 million over a 10 year period, with the remaining CAD $10 million to be deferred and ultimately forgiven assuming the Company otherwise complied with the orders’ remaining terms. The Company, which maintained it had complied in all material respects with the published rules, vigorously contested IESO’s orders, including through the filing of judicial review proceedings with the divisional Court (Superior Court of Justice) of Ontario seeking invalidation of the orders. At the time these orders were issued, the remaining two investigations remained open, subjecting the Company to the risk that MACD may in the future issue additional orders upon finalization of these additional investigations. On April 19, 2021, the Company and IESO entered into Minutes of Settlement (“MOS”) pursuant to which the parties agreed to fully and finally settle all claims relating to all four of the investigations (whether completed or not) and related orders, the judicial review proceedings and underlying disputes. As part of the settlement, the Company agreed to a fixed obligation to pay a sum of CAD $12 million over a period of 5 years comprised of a CAD $4.5 million up-front payment and a CAD $7.5 million payment to be spread (on a front-weighted basis) over the next 5 anniversaries of the MOS, without interest. In addition to the foregoing, the MOS provides that a “suspended” sum of CAD $10.4 million would become due and payable in the event the Company fails to comply with any of the terms and conditions of the MOS or commits an event of default, as defined under the applicable market rules, unless such breach or event of default is remedied on a timely basis. This contingent “suspended” sum decreases annually as the scheduled fixed, or non-contingent, payments are made under the MOS. Assuming no uncured event of default or breach occurs during the repayment period, upon full payment of the CAD $12 million, the entire "suspended" sum shall be extinguished and RYAM shall be released from any payment obligation with respect thereto. Given the parties’ finalization of and entry into the MOS, the Company considers this matter concluded (subject only to the parties’ obligations yet to be performed under the MOS). Duties on Canadian softwood lumber sold to the U.S. The Company has operated six softwood lumber mills in Ontario and Quebec, Canada and has exported softwood lumber into the United States from Canada. In 2017, anti-dumping and countervailing duties were assessed by the United States Department of Commerce (“USDOC”) on lumber exported into the United States, with the Company being assigned an anti-dumping duty rate of 6 percent and a countervailing duty rate of 14 percent. In December 2020, following its administrative review of the period of April 28, 2017 through December 31, 2018, USDOC determined revised rates for anti-dumping and countervailing duties, and the Company is now subject to an anti-dumping duty rate of approximately 1.6 percent and a countervailing duty rate of approximately 7.4 percent. The reduced rates will be applied by the Company for lumber sold into the U.S. in the future. Canada’s legal challenge to the USDOC’s assessment of duties continues in spite of the recent revision in rates. The Company has paid approximately $108 million in lumber duties to date, recorded as expense in the periods incurred. The Company currently has a $21 million long-term receivable associated with the December 2020 determination of the revised rates for the 2017 and 2018 periods. Cash is not expected to return to the Company until final resolution of the softwood lumber dispute, which remains subject to legal challenges and to USDOC further administrative review processes covering periods after December 31, 2018. As part of the sale of its lumber assets, the Company retains all rights and obligations to softwood lumber duties, generated or incurred through the closing date of the transaction. Other . In addition to the above, 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. Guarantees and Other The Company provides financial guarantees as required by creditors, insurance programs and various governmental agencies. As of June 26, 2021, the Company had net exposure of $41 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 $86 million as of June 26, 2021, 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 (“LTF”) is a venture in which the Company owns 45 percent and its partner Borregaard ASA owns 55 percent. The Company is a guarantor of LTF’s financing agreements and, in the event of default, expects it would only be liable for its proportional share of any repayment under the agreements. The Company’s proportion of the LTF financing agreement guarantee was $33 million at June 26, 2021. 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. As of June 26, 2021, the Company is working to reach agreements for certain expired collective bargaining agreements covering unionized employees in Canada working in the lumber and newsprint operations. All other collective bargaining agreements covering its unionized employees are current. See Note 2 — Discontinued Operations

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flows Information	6 Months Ended
	Jun. 26, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flows Information	Supplemental Disclosures of Cash Flow Information Supplemental disclosures of cash flows information were comprised of the following for the six months ended: June 26, 2021 June 27, 2020 Interest paid $ 13,394 $ 24,916 Income taxes paid (received) $ (21,032) $ 633 Capital assets purchased on account $ 15,704 $ 11,136 Assets acquired under operating leases $ 624 $ 658

Basis of Presentation and New_2

Basis of Presentation and New Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 26, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements and notes thereto of Rayonier Advanced Materials Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) 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 consolidated 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 consolidated financial statements and supplementary data included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on March 1, 2021.
New or Recently Adopted Accounting Pronouncements	New or Recently Adopted Accounting Pronouncements There have been no new or recently adopted accounting pronouncements impacting the Company’s unaudited consolidated interim financial statements.
Subsequent Events	Events and transactions subsequent to the consolidated balance sheets date have been evaluated for potential recognition and disclosure through the date of issuance of these 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. Debt — The fair value of fixed rate debt is based upon quoted market prices for debt with similar terms and maturities.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 26, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	Income (loss) from discontinued operations is comprised of the following: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Net sales (a) $ 212,376 $ 72,583 $ 358,838 $ 157,916 Cost of sales (86,961) (74,907) (169,688) (158,057) Gross margin 125,415 (2,324) 189,150 (141) Selling, general and administrative expenses and other (10,428) (6,935) (18,894) (14,958) Operating income (loss) 114,987 (9,259) 170,256 (15,099) Interest expense (b) (2,703) (2,110) (5,317) (4,172) Other non-operating income 368 604 713 1,257 Income (loss) from discontinued operations before income taxes 112,652 (10,765) 165,652 (18,014) Income tax benefit (expense) 1,279 1,343 (62,538) 1,745 Income (loss) from discontinued operations, net of taxes $ 113,931 $ (9,422) $ 103,114 $ (16,269) Gain from sale of discontinued operation, pre-tax — — — 955 Income tax benefit (expense) on gain 64 — (183) Gain from sale of discontinued operations, net of tax (c) — 64 — 772 Income (Loss) from Discontinued Operations $ 113,931 $ (9,358) $ 103,114 $ (15,497) (a) Net of intercompany sales of $10 million and $9 million for three months ended June 26, 2021 and June 27, 2020, respectively, and $22 million and $22 million for the six months ended June 26, 2021 and June 27, 2020, respectively. (b) The Company has allocated interest expense to discontinued operations based on the portion of debt not attributable to other operations that it expects to repay as a result of the transaction. (c) Also included in income from discontinued operations for the three and six months ended June 27, 2020 is income of $64 thousand and $772 thousand, respectively, from working capital adjustments that arose following the closing of the November 2019 sale of the Company’s Matane, Quebec pulp mill. Other discontinued operations information is as follows: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Depreciation and amortization $ — $ 2,957 $ 3,173 $ 5,782 Capital expenditures $ 2,326 $ (187) $ 5,814 $ 3,428 The following table presents the major classes of assets and liabilities of discontinued operations that are classified as held for sale: June 26, 2021 December 31, 2020 Inventory $ 92,624 $ 62,837 Prepaid and other current assets 9,446 9,725 Total current assets 102,070 72,562 Property, plant and equipment, net 97,980 97,151 Other assets 45,593 43,552 Total assets $ 245,643 $ 213,265 Accrued and other current liabilities $ 933 $ 780 Total current liabilities 933 780 Pension and Other Postretirement Benefits 9,578 9,316 Other long-term liabilities 3,402 2,498 Total liabilities $ 13,913 $ 12,594

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 26, 2021
Receivables [Abstract]
Schedule of Accounts Receivable	The Company’s accounts receivable included the following: June 26, 2021 December 31, 2020 Accounts receivable, trade $ 154,417 $ 140,036 Accounts receivable, other (a) 33,900 39,659 Allowance for expected credit losses (435) (487) Total accounts receivable, net $ 187,882 $ 179,208 (a) Accounts receivable, other consists primarily of value added/consumption taxes, grants receivable and accrued billings due from government agencies.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 26, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	The Company’s inventory included the following: June 26, 2021 December 31, 2020 Finished goods $ 141,586 $ 119,549 Work-in-progress 4,968 2,242 Raw materials 44,654 43,697 Manufacturing and maintenance supplies 3,963 5,159 Total inventory $ 195,171 $ 170,647

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 26, 2021
Leases [Abstract]
Components of Lease Expense	The Company’s operating and finance lease cost is as follows: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Operating Leases Operating lease expense $ 1,423 $ 1,499 $ 2,838 $ 2,991 Finance Leases Amortization of ROU assets 87 81 173 161 Interest 42 47 85 96 Total $ 1,552 $ 1,627 $ 3,096 $ 3,248
Balance Sheet Components	The Company’s consolidated balance sheet includes the following operating lease assets and liabilities: Balance Sheet Classification June 26, 2021 December 31, 2020 Right-of-use assets Other assets $ 14,084 $ 15,847 Lease liabilities, current Accrued and other current liabilities $ 5,301 $ 4,886 Lease liabilities, non-current Other long-term liabilities $ 9,922 $ 11,974
Operating Lease Maturity	As of June 26, 2021, operating lease maturities for the remainder of 2021 through 2025 and thereafter are as follows: June 26, 2021 Remainder of 2021 $ 3,024 2022 5,978 2023 5,089 2024 1,498 2025 657 Thereafter 476 Total minimum lease payments $ 16,722 Less: imputed interest (1,499) Present value of future minimum lease payments $ 15,223

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 26, 2021
Payables and Accruals [Abstract]
Schedule of Accrued and Other Current Liabilities	The Company’s accrued and other current liabilities included the following: June 26, 2021 December 31, 2020 Accrued customer incentives and prepayments $ 28,769 $ 29,387 Accrued payroll and benefits 32,509 21,500 Accrued interest 22,073 3,230 Accrued income taxes 4,996 5,052 Accrued stumpage 2,072 10,045 Accrued property and other taxes 7,941 3,995 Other current liabilities 39,129 36,506 Total accrued and other current liabilities $ 137,489 $ 109,715

Debt and Finance Leases (Tables

Debt and Finance Leases (Tables)	6 Months Ended
	Jun. 26, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The Company’s debt and finance leases included the following: June 26, 2021 December 31, 2020 ABL Credit Facility due 2025, $124 million available, bearing interest 0.25% LIBOR floor plus 2.75%, interest rate of 3.00% at June 26, 2021 — — Senior Secured Notes due 2026 at a fixed interest rate of 7.625% $ 500,000 $ 500,000 Senior Notes due 2024 at a fixed interest rate of 5.5% 495,647 495,647 Canadian dollar, fixed interest rate term loans with rates ranging from 5.5% to 6.86% and maturity dates ranging from July 2022 through April 2028, secured by certain assets of the Temiscaming mill 72,983 73,791 Other loans (a) 16,605 18,193 Short-term factoring facility-France 3,730 5,089 Finance lease obligation 2,317 2,489 Total debt principal payments due 1,091,282 1,095,209 Less: Debt premium, original issue discount and issuance costs, net (10,530) (11,272) Total debt 1,080,752 1,083,937 Less: Debt due within one year (17,013) (17,100) Long-term debt $ 1,063,739 $ 1,066,837 (a) Primarily loans for energy projects in France.
Schedule of Maturities of Long-term Debt	As of June 26, 2021, debt and finance lease payments due during the remainder of 2021, the next four years and thereafter are as follows: Finance Lease Payments Debt Principal Payments Remainder of 2021 $ 258 $ 11,041 2022 515 31,082 2023 515 10,533 2024 515 506,100 2025 515 10,495 Thereafter 472 519,714 Total principal payments $ 2,790 $ 1,088,965 Less: Imputed interest 473 Present value minimum finance lease payments $ 2,317

Environmental Liabilities (Tabl

Environmental Liabilities (Tables)	6 Months Ended
	Jun. 26, 2021
Environmental Remediation Obligations [Abstract]
Schedule of Liabilities for Disposed Operations	An analysis of liabilities for the six months ended June 26, 2021 is as follows: Balance, December 31, 2020 $ 171,679 Increase in liabilities 1,168 Payments (2,165) Foreign currency adjustments 414 Balance, June 26, 2021 171,096 Less: Current portion (8,712) Long-term environmental liabilities $ 162,384

Derivatives Instruments (Tables

Derivatives Instruments (Tables)	6 Months Ended
	Jun. 26, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The effects of derivatives designated as hedging instruments, the related changes in AOCI and the gains and losses in income is as follows: Three Months Ended June 26, 2021 Derivatives Designated as Hedging Instruments Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Foreign exchange forward contracts $ — $ 2,260 Cost of sales Foreign exchange forward contracts $ — $ (102) Interest income and other, net Three Months Ended June 27, 2020 Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Interest rate swaps $ (225) $ (716) Interest expense Foreign exchange forward contracts $ 5,914 $ 367 Other operating income (expense), net Foreign exchange forward contracts $ 3,863 $ (3,863) Cost of sales Foreign exchange forward contracts $ 2,192 $ 2,135 Interest income and other, net Six Months Ended June 26, 2021 Derivatives Designated as Hedging Instruments Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Foreign exchange forward contracts $ — $ 4,088 Cost of sales Foreign exchange forward contracts $ — $ (202) Interest income and other, net Six Months Ended June 27, 2020 Derivatives Designated as Hedging Instruments Gain (Loss) Recognized in OCI on Derivative Gain (Loss) Reclassified from AOCI into Income Location on Statement of Income Interest rate swaps $ (1,982) $ (836) Interest expense Foreign exchange forward contracts $ (20,618) $ (994) Other operating income (expense), net Foreign exchange forward contracts $ 3,469 $ (3,469) Cost of sales Foreign exchange forward contracts $ (4,710) $ (4,597) 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 consolidated statement of income were as follows: Three Months Ended Six Months Ended Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Foreign exchange forward contracts Other operating income (expense), net $ — $ 18 $ — $ (703)
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 are presented below: June 26, 2021 December 31, 2020 Foreign exchange cash flow hedges $ (1,019) $ 1,834

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 26, 2021
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, using market information and what management believes to be appropriate valuation methodologies: June 26, 2021 December 31, 2020 Carrying Fair Value Carrying Fair Value Assets: Level 1 Level 2 Level 1 Level 2 Cash and cash equivalents $ 214,739 $ 214,739 $ — $ 93,653 $ 93,653 $ — Liabilities (a): Fixed-rate long-term debt 1,074,705 — 1,093,500 1,076,359 — 1,050,287 (a) Liabilities exclude finance lease obligation.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 26, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The components of AOCI are as follows: Six Months Ended June 26, 2021 June 27, 2020 Unrecognized components of employee benefit plans, net of tax: Balance, beginning of year $ (146,614) $ (126,638) Other comprehensive gain (loss) before reclassifications — 4,781 Income tax on other comprehensive loss — (1,238) Reclassifications to earnings: (a) Pension settlement loss 111 — Amortization of losses 8,169 6,764 Amortization of prior service costs 276 280 Income tax on reclassifications (1,892) (1,274) Net comprehensive gain (loss) on employee benefit plans, net of tax 6,664 9,313 Balance, end of period (139,950) (117,325) Unrealized gain (loss) on derivative instruments, net of tax: Balance, beginning of year 1,834 1,290 Other comprehensive gain (loss) before reclassifications — (23,841) Income tax on other comprehensive income — 5,487 Reclassifications to earnings: (b) Interest rate contracts — 836 Foreign exchange contracts (3,886) 9,060 Income tax on reclassifications 1,033 (2,072) Net comprehensive gain (loss) on derivative instruments, net of tax (2,853) (10,530) Balance, end of period (1,019) (9,240) Foreign currency translation adjustments: Balance, beginning of year 11,145 (13,879) Foreign currency translation adjustment, net of tax of $0 and $0 (6,221) (583) Balance, end of period 4,924 (14,462) Accumulated other comprehensive income (loss), end of quarter $ (136,045) $ (141,027) (a) The AOCI components for defined benefit pension and post-retirement plans are included in the computation of net periodic benefit cost. See Note 15— 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 9 — Derivative Instruments

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 26, 2021
Equity [Abstract]
Schedule of Stockholders' Equity (Deficit)	An analysis of stockholders’ equity is shown below (share amounts not in thousands): Common Stock Additional Paid in Capital Retained Accumulated Other Comprehensive Loss Total Stockholders’ Shares Par Value For the six months ended June 26, 2021 Balance, January 1, 2021 63,359,839 $ 633 $ 405,161 $ 422,928 $ (133,635) $ 695,087 Net income (loss) — — — 95,201 — 95,201 Other comprehensive income (loss), net of tax — — — — (2,410) (2,410) Issuance of common stock under incentive stock plans 509,713 5 (5) — — — Stock-based compensation — — 385 — — 385 Repurchase of common shares (a) (132,196) (1) (1,421) — — (1,422) Balance June 26, 2021 63,737,356 $ 637 $ 404,120 $ 518,129 $ (136,045) $ 786,841 For the three months ended June 26, 2021 Balance March 27, 2021 63,597,356 $ 636 $ 403,086 $ 395,901 $ (140,869) $ 658,754 Net income (loss) — — — 122,228 — 122,228 Other comprehensive income (loss), net of tax — — — — 4,824 4,824 Issuance of common stock under incentive stock plans 140,000 1 (1) — — — Stock-based compensation — — 1,038 — — 1,038 Repurchase of common shares (a) — — (3) — — (3) Balance, June 26, 2021 63,737,356 $ 637 $ 404,120 $ 518,129 $ (136,045) $ 786,841 For the six months ended June 27, 2020 Balance, January 1, 2020 63,136,129 $ 632 $ 399,020 $ 422,373 $ (139,227) $ 682,798 Net income (loss) — — — (36,990) — (36,990) Other comprehensive income (loss), net of tax — — — — (1,800) (1,800) Issuance of common stock under incentive stock plans 396,753 3 (4) — — (1) Stock-based compensation — — 5,157 — — 5,157 Repurchase of common shares (a) (185,556) (2) (436) — — (438) Balance June 27, 2020 63,347,326 $ 633 $ 403,737 $ 385,383 $ (141,027) $ 648,726 For the three months ended June 27, 2020 Balance, March 28, 2020 63,246,867 $ 632 $ 400,525 $ 398,246 $ (159,785) $ 639,618 Net income (loss) — — — (12,863) — (12,863) Other comprehensive income (loss), net of tax — — — — 18,758 18,758 Issuance of common stock under incentive stock plans 106,064 1 (2) — — (1) Stock-based compensation — — 3,214 — — 3,214 Repurchase of common shares (a) (5,605) — — — — — Balance, June 27, 2020 63,347,326 $ 633 $ 403,737 $ 385,383 $ (141,027) $ 648,726 (a) Repurchased to satisfy the tax withholding requirements related to the issuance of stock under the Rayonier Advanced Materials Incentive Stock Plan.

Earnings Per Share of Common _2

Earnings Per Share of Common Stock (Tables)	6 Months Ended
	Jun. 26, 2021
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 Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Income (loss) from continuing operations $ 8,297 $ (3,505) $ (7,913) $ (21,493) Income (loss) from discontinued operations 113,931 (9,358) 103,114 (15,497) Net income (loss) available for common stockholders $ 122,228 $ (12,863) $ 95,201 $ (36,990) Shares used for determining basic earnings per share of common stock 63,654,278 63,235,151 63,545,599 63,111,058 Dilutive effect of: Stock options — — — — Performance and restricted stock 1,159,735 — — — Shares used for determining diluted earnings per share of common stock 64,814,013 63,235,151 63,545,599 63,111,058 Basic per share amounts Income (loss) from continuing operations $ 0.13 $ (0.05) $ (0.12) $ (0.34) Income (loss) from discontinued operations 1.79 (0.15) 1.62 (0.25) Net income (loss) $ 1.92 $ (0.20) $ 1.50 $ (0.59) Diluted per share amounts Income (loss) from continuing operations $ 0.13 $ (0.05) $ (0.12) $ (0.34) Income (loss) from discontinued operations 1.76 (0.15) 1.62 (0.25) Net income (loss) $ 1.89 $ (0.20) $ 1.50 $ (0.59)
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 Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Stock options 122,525 153,977 122,525 153,977 Performance and restricted stock 655,540 2,691,362 2,286,865 2,691,362 Total anti-dilutive instruments 778,065 2,845,339 2,409,390 2,845,339

Incentive Stock Plans (Tables)

Incentive Stock Plans (Tables)	6 Months Ended
	Jun. 26, 2021
Share-based Payment Arrangement [Abstract]
Summary of Activity for Incentive Stock Awards	The following table summarizes the activity on the Company’s incentive stock awards for the six months ended June 26, 2021: Stock Options Restricted 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, 2021 152,281 $ 38.26 828,955 $ 10.27 1,821,402 $ 8.77 Granted — — 551,476 9.76 136,061 17.61 Forfeited — — (108,986) 11.68 (312,697) 8.92 Exercised or settled — — (326,830) 13.50 (302,516) 22.76 Expired or cancelled (29,756) 33.39 — — — — Outstanding at June 26, 2021 122,525 $ 39.44 944,615 $ 8.69 1,342,250 $ 6.48

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 26, 2021
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 these 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 June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Service cost $ 2,600 $ 2,207 $ 363 $ 316 Interest cost 4,446 5,844 176 149 Expected return on plan assets (9,673) (9,246) — — Amortization of prior service cost 177 178 (38) (38) Amortization of losses 4,086 3,427 2 (57) Pension settlement loss (gain) 890 — — — Total net periodic benefit cost $ 2,526 $ 2,410 $ 503 $ 370 Pension Postretirement Six Months Ended Six Months Ended Components of Net Periodic Benefit Cost June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 Service cost $ 5,181 $ 4,482 $ 725 $ 674 Interest cost 8,851 11,748 351 428 Expected return on plan assets (19,279) (18,612) — — Amortization of prior service cost 352 357 (76) (77) Amortization of losses 8,163 6,854 6 (91) Pension settlement loss (gain) 890 — — — Total net periodic benefit cost $ 4,158 $ 4,829 $ 1,006 $ 934

Segment and Geographical Info_2

Segment and Geographical Information (Tables)	6 Months Ended
	Jun. 26, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Net sales, disaggregated by product-line, was comprised of the following: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 High Purity Cellulose Cellulose Specialties $ 167,576 $ 161,075 $ 335,413 $ 321,310 Commodity Products 62,384 75,428 121,317 141,951 Other sales (a) 24,639 18,552 47,630 41,371 Total High Purity Cellulose 254,599 255,055 504,360 504,632 Paperboard Paperboard 56,762 43,144 104,611 93,630 High-Yield Pulp High-Yield Pulp 36,786 31,847 64,330 61,822 Eliminations (7,128) (5,876) (13,604) (11,439) Total net sales $ 341,019 $ 324,170 $ 659,697 $ 648,645 (a) Other sales include sales of electricity, lignin and other by-products to third-parties Operating income (loss) by segment was comprised of the following: Three Months Ended Six Months Ended June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020 High Purity Cellulose $ 10,623 $ 6,721 $ 17,051 $ 1,863 Paperboard 2,441 6,261 8,196 10,936 High-Yield Pulp 1,079 570 538 (476) Corporate (12,766) (19,713) (24,882) (24,650) Total operating income (loss) $ 1,377 $ (6,161) $ 903 $ (12,327) Identifiable assets by segment were as follows: June 26, 2021 December 31, 2020 High Purity Cellulose $ 1,540,743 $ 1,528,929 Paperboard 120,125 129,871 High-Yield Pulp 38,985 33,259 Corporate and other (a) 702,806 624,541 Assets Held for Sale 245,643 213,265 Total identifiable assets $ 2,648,302 $ 2,529,865

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flows Information (Tables)	6 Months Ended
	Jun. 26, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental disclosures of cash flows information were comprised of the following for the six months ended: June 26, 2021 June 27, 2020 Interest paid $ 13,394 $ 24,916 Income taxes paid (received) $ (21,032) $ 633 Capital assets purchased on account $ 15,704 $ 11,136 Assets acquired under operating leases $ 624 $ 658

Basis of Presentation and New_3

Basis of Presentation and New Accounting Pronouncements (Details) - CAD ($)	1 Months Ended	5 Months Ended
	Aug. 05, 2021	Jun. 26, 2021	Jan. 31, 2021
Subsequent Event [Line Items]
CEWS applied for			$ 25,000,000
CEWS received		$ 6,000,000
Subsequent Event
Subsequent Event [Line Items]
CEWS received	$ 19,000,000

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - Lumber and Newsprint Facilities - Discontinued Operations, Held-for-sale $ in Millions, $ in Millions	Apr. 12, 2021USD ($)facility	Apr. 12, 2021CAD ($)facility	Jun. 26, 2021USD ($)employee
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross purchase price	$ 214
Inventory	$ 74		$ 93
Purchase price paid in cash	85.00%	85.00%
Credit note to be issued		$ 8
Credit note to be issued, term which can be offset against amounts owed	5 years	5 years
Number of facilities disposed | facility	6	6
Rights to duty refunds			108
Supply term	20 years	20 years
Net assets included in transaction			$ 232
Cash tax impact	$ 5
Number of employees covered by collective bargaining agreements | employee			400

Discontinued Operations - Incom

Discontinued Operations - Income (Loss) from Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations	$ 113,931	$ (9,358)	$ 103,114	$ (15,497)
Discontinued Operations, Held-for-sale | Lumber and Newsprint Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	212,376	72,583	358,838	157,916
Cost of sales	(86,961)	(74,907)	(169,688)	(158,057)
Gross margin	125,415	(2,324)	189,150	(141)
Selling, general and administrative expenses and other	(10,428)	(6,935)	(18,894)	(14,958)
Operating income (loss)	114,987	(9,259)	170,256	(15,099)
Interest expense	(2,703)	(2,110)	(5,317)	(4,172)
Other non-operating income	368	604	713	1,257
Income (loss) from discontinued operations before income taxes	112,652	(10,765)	165,652	(18,014)
Income tax benefit (expense)	1,279	1,343	(62,538)	1,745
Income (loss) from discontinued operations, net of taxes	113,931	(9,422)	103,114	(16,269)
Gain from sale of discontinued operation, pre-tax	0	0	0	955
Income tax benefit (expense) on gain		64	0	(183)
Income (loss) from discontinued operations	113,931	(9,358)	103,114	(15,497)
Discontinued Operations, Held-for-sale | Lumber and Newsprint Facilities | Intersegment Sales
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	10,000	9,000	22,000	22,000
Discontinued Operations, Held-for-sale | Matane Plant
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale of discontinued operations, net of tax	$ 0	$ 64	$ 0	$ 772

Discontinued Operations - Other

Discontinued Operations - Other Discontinued Operations Information (Details) - Discontinued Operations, Held-for-sale - Lumber and Newsprint Facilities - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	$ 0	$ 2,957	$ 3,173	$ 5,782
Capital expenditures	$ 2,326	$ (187)	$ 5,814	$ 3,428

Discontinued Operations - Asset

Discontinued Operations - Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current assets	$ 245,643	$ 72,562
Total current liabilities	13,913	780
Discontinued Operations, Held-for-sale | Lumber and Newsprint Facilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Inventory	92,624	62,837
Prepaid and other current assets	9,446	9,725
Total current assets	102,070	72,562
Property, plant and equipment, net	97,980	97,151
Other assets	45,593	43,552
Total assets	245,643	213,265
Accrued and other current liabilities	933	780
Total current liabilities	933	780
Pension and Other Postretirement Benefits	9,578	9,316
Other long-term liabilities	3,402	2,498
Total liabilities	$ 13,913	$ 12,594

Accounts Receivable, Net - Sche

Accounts Receivable, Net - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for expected credit losses	$ (435)	$ (487)
Total accounts receivable, net	187,882	179,208
Accounts receivable, trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, gross	154,417	140,036
Accounts receivable, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, gross	$ 33,900	$ 39,659

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 141,586	$ 119,549
Work-in-progress	4,968	2,242
Raw materials	44,654	43,697
Manufacturing and maintenance supplies	3,963	5,159
Total inventory	$ 195,171	$ 170,647

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease, weighted average discount rate	6.10%		6.10%
Finance lease, weighted average discount rate	7.00%		7.00%
Weighted average remaining lease term, operating leases	3 years 1 month 6 days		5 years 10 months 24 days
Weighted average remaining lease term, finance leases	5 years 4 months 24 days		3 years 6 months
Operating lease payments	$ 3	$ 3
Assets acquired under finance leases	$ 2		$ 2
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	7 years 8 months 12 days

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Operating Leases
Operating lease expense	$ 1,423	$ 1,499	$ 2,838	$ 2,991
Finance Leases
Amortization of ROU assets	87	81	173	161
Interest	42	47	85	96
Total	$ 1,552	$ 1,627	$ 3,096	$ 3,248

Leases - Balance Sheet Componen

Leases - Balance Sheet Components (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Leases [Abstract]
Right-of-use assets	$ 14,084	$ 15,847
Lease liabilities, current	5,301	4,886
Lease liabilities, non-current	$ 9,922	$ 11,974
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued and other current liabilities (Note 6)	Accrued and other current liabilities (Note 6)
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Long-Term Liabilities	Other Long-Term Liabilities

Leases - Lease Maturity (Detail

Leases - Lease Maturity (Details) $ in Thousands	Jun. 26, 2021USD ($)
Leases [Abstract]
Remainder of 2021	$ 3,024
2022	5,978
2023	5,089
2024	1,498
2025	657
Thereafter	476
Total minimum lease payments	16,722
Less: imputed interest	(1,499)
Present value of future minimum lease payments	$ 15,223

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued customer incentives and prepayments	$ 28,769	$ 29,387
Accrued payroll and benefits	32,509	21,500
Accrued interest	22,073	3,230
Accrued income taxes	4,996	5,052
Accrued stumpage	2,072	10,045
Accrued property and other taxes	7,941	3,995
Other current liabilities	39,129	36,506
Total accrued and other current liabilities	$ 137,489	$ 109,715

Debt and Finance Leases - Summa

Debt and Finance Leases - Summary of Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Finance lease obligation	$ 2,317	$ 2,489
Total debt principal payments due	1,091,282	1,095,209
Less: Debt premium, original issue discount and issuance costs, net	(10,530)	(11,272)
Total debt	1,080,752	1,083,937
Less: Debt due within one year	(17,013)	(17,100)
Long-term debt	1,063,739	1,066,837
Short-term factoring facility-France | Credit Facility
Debt Instrument [Line Items]
Short-term debt, gross	3,730	5,089
Credit Facility | ABL Credit Facility due 2025, $124 million available, bearing interest 0.25% LIBOR floor plus 2.75%, interest rate of 3.00% at June 26, 2021
Debt Instrument [Line Items]
Long-term debt, gross	0	0
Credit Facility | ABL Credit Facility due 2025, $124 million available, bearing interest 0.25% LIBOR floor plus 2.75%, interest rate of 3.00% at June 26, 2021 | Revolving Credit Facility
Debt Instrument [Line Items]
Borrowing capacity available	$ 124,000
Credit Facility | ABL Credit Facility due 2025, $124 million available, bearing interest 0.25% LIBOR floor plus 2.75%, interest rate of 3.00% at June 26, 2021 | LIBOR
Debt Instrument [Line Items]
Rate floor	0.25%
Basis spread	2.75%
Interest rate	3.00%
Senior Notes | Senior Secured Notes due 2026 at a fixed interest rate of 7.625%
Debt Instrument [Line Items]
Fixed interest rate	7.625%
Long-term debt, gross	$ 500,000	500,000
Senior Notes | Senior Notes due 2024 at a fixed interest rate of 5.5%
Debt Instrument [Line Items]
Fixed interest rate	5.50%
Long-term debt, gross	$ 495,647	495,647
Loans | Canadian dollar, fixed interest rate term loans with rates ranging from 5.5% to 6.86% and maturity dates ranging from July 2022 through April 2028, secured by certain assets of the Temiscaming mill
Debt Instrument [Line Items]
Long-term debt, gross	72,983	73,791
Loans | Other loans
Debt Instrument [Line Items]
Long-term debt, gross	$ 16,605	$ 18,193
Minimum | Loans | Canadian dollar, fixed interest rate term loans with rates ranging from 5.5% to 6.86% and maturity dates ranging from July 2022 through April 2028, secured by certain assets of the Temiscaming mill
Debt Instrument [Line Items]
Fixed interest rate	5.50%
Maximum | Loans | Canadian dollar, fixed interest rate term loans with rates ranging from 5.5% to 6.86% and maturity dates ranging from July 2022 through April 2028, secured by certain assets of the Temiscaming mill
Debt Instrument [Line Items]
Fixed interest rate	6.86%

Debt and Finance Leases - Sched

Debt and Finance Leases - Schedule of Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Finance Lease Payments
Remainder of 2021	$ 258
2022	515
2023	515
2024	515
2025	515
Thereafter	472
Total principal payments	2,790
Less: Imputed interest	473
Present value minimum finance lease payments	2,317	$ 2,489
Debt Principal Payments
Remainder of 2021	11,041
2022	31,082
2023	10,533
2024	506,100
2025	10,495
Thereafter	519,714
Total principal payments	$ 1,088,965

Environmental Liabilities - Ana

Environmental Liabilities - Analysis of Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2021	Dec. 31, 2020
Accrual for Environmental Loss Contingencies [Roll Forward]
Balance, December 31, 2020	$ 171,679
Increase in liabilities	1,168
Payments	(2,165)
Foreign currency adjustments	414
Balance, June 26, 2021	171,096
Less: Current portion	(8,712)	$ (8,684)
Long-term environmental liabilities	$ 162,384	$ 162,995

Environmental Liabilities - Nar

Environmental Liabilities - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 26, 2021USD ($)
Environmental Remediation Obligations [Abstract]
Loss exposure in excess of accrual, high estimate	$ 78
Probable costs expected to be incurred, term	20 years

Derivatives Instruments - Narra

Derivatives Instruments - Narrative (Details) - Foreign exchange forward contracts - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 26, 2021	Jun. 26, 2021	Dec. 31, 2020
Derivative [Line Items]
Net after-tax gain (loss) deferred as a component of accumulated other comprehensive income (loss)	$ (1)	$ (1)	$ 2
Gain recognized out of accumulated other comprehensive income (loss)	$ 1.6	$ 2.9

Derivatives Instruments - Deriv

Derivatives Instruments - Derivative Instruments Classified as Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Interest expense | Interest rate swaps
Derivative [Line Items]
Gain (Loss) Recognized in OCI on Derivative		$ (225)		$ (1,982)
Gain (Loss) Reclassified from AOCI into Income		(716)		(836)
Other operating income (expense), net | Foreign exchange forward contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI on Derivative		5,914		(20,618)
Gain (Loss) Reclassified from AOCI into Income		367		(994)
Cost of sales | Foreign exchange forward contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI on Derivative	$ 0	3,863	$ 0	3,469
Gain (Loss) Reclassified from AOCI into Income	2,260	(3,863)	4,088	(3,469)
Interest income and other, net | Foreign exchange forward contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI on Derivative	0	2,192	0	(4,710)
Gain (Loss) Reclassified from AOCI into Income	$ (102)	$ 2,135	$ (202)	$ (4,597)

Derivatives Instruments - Der_2

Derivatives Instruments - Derivative Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Other operating income (expense), net | Foreign exchange forward contracts
Derivative [Line Items]
Gain (loss) recognized in income on derivative	$ 0	$ 18	$ 0	$ (703)

Derivatives Instruments - After

Derivatives Instruments - After-tax Amounts of Unrealized Gain in AOCL Related to Hedge Derivatives (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Mar. 27, 2021	Dec. 31, 2020	Jun. 27, 2020	Mar. 28, 2020	Dec. 31, 2019
Derivative [Line Items]
Stockholder's equity	$ 786,841	$ 658,754	$ 695,087	$ 648,726	$ 639,618	$ 682,798
Unrealized gain on derivative
Derivative [Line Items]
Stockholder's equity	(1,019)		1,834	$ (9,240)		$ 1,290
Cash Flow Hedging | Unrealized gain on derivative | Foreign exchange forward contracts
Derivative [Line Items]
Stockholder's equity	$ (1,019)		$ 1,834

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 31, 2020
Carrying Amount
Assets
Cash and cash equivalents	$ 214,739	$ 93,653
Liabilities:
Fixed-rate long-term debt	1,074,705	1,076,359
Fair Value | Level 1
Assets
Cash and cash equivalents	214,739	93,653
Liabilities:
Fixed-rate long-term debt	0	0
Fair Value | Level 2
Assets
Cash and cash equivalents	0	0
Liabilities:
Fixed-rate long-term debt	$ 1,093,500	$ 1,050,287

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 658,754	$ 639,618	$ 695,087	$ 682,798
Total other comprehensive income (loss)	4,824	18,758	(2,410)	(1,800)
Ending balance	786,841	648,726	786,841	648,726
Tax effects of foreign translation adjustment			0	0
Unrecognized components of employee benefit plans, net of tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(146,614)	(126,638)
Other comprehensive income (loss) before reclassifications			0	4,781
Income tax on other comprehensive income (loss)			0	(1,238)
Income tax on reclassifications			(1,892)	(1,274)
Total other comprehensive income (loss)			6,664	9,313
Ending balance	(139,950)	(117,325)	(139,950)	(117,325)
Pension settlement loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			111	0
Amortization of losses
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			8,169	6,764
Amortization of prior service costs
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			276	280
Unrealized gain (loss) on derivative instruments, net of tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			1,834	1,290
Other comprehensive income (loss) before reclassifications			0	(23,841)
Income tax on other comprehensive income (loss)			0	5,487
Income tax on reclassifications			1,033	(2,072)
Total other comprehensive income (loss)			(2,853)	(10,530)
Ending balance	(1,019)	(9,240)	(1,019)	(9,240)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			11,145	(13,879)
Total other comprehensive income (loss)			(6,221)	(583)
Ending balance	4,924	(14,462)	4,924	(14,462)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(140,869)	(159,785)	(133,635)	(139,227)
Total other comprehensive income (loss)	4,824	18,758	(2,410)	(1,800)
Ending balance	$ (136,045)	$ (141,027)	(136,045)	(141,027)
Interest rate swaps | Unrealized gain (loss) on derivative instruments, net of tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			0	836
Foreign exchange forward contracts | Unrealized gain (loss) on derivative instruments, net of tax
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassifications to earnings			$ (3,886)	$ 9,060

Stockholders' Equity - Stockhol

Stockholders' Equity - Stockholders' Equity (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		$ 658,754	$ 639,618	$ 695,087	$ 682,798
Net income (loss)		122,228	(12,863)	95,201	(36,990)
Other comprehensive income (loss), net of tax		4,824	18,758	(2,410)	(1,800)
Issuance of common stock under incentive stock plans		0	(1)	0	(1)
Stock-based compensation		1,038	3,214	385	5,157
Repurchase of common shares	[1]	(3)	0	(1,422)	(438)
Ending balance		786,841	648,726	786,841	648,726
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		$ 636	$ 632	$ 633	$ 632
Beginning balance (in shares)		63,597,356	63,246,867	63,359,839	63,136,129
Issuance of common stock under incentive stock plans		$ 1	$ 1	$ 5	$ 3
Issuance of common stock under incentive stock plans (in shares)		140,000	106,064	509,713	396,753
Repurchase of common shares	[1]			$ (1)	$ (2)
Repurchase of common shares (in shares)	[1]		(5,605)	(132,196)	(185,556)
Ending balance (in shares)		63,737,356	63,347,326	63,737,356	63,347,326
Ending balance		$ 637	$ 633	$ 637	$ 633
Additional Paid in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		403,086	400,525	405,161	399,020
Issuance of common stock under incentive stock plans		(1)	(2)	(5)	(4)
Stock-based compensation		1,038	3,214	385	5,157
Repurchase of common shares	[1]	(3)		(1,421)	(436)
Ending balance		404,120	403,737	404,120	403,737
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		395,901	398,246	422,928	422,373
Net income (loss)		122,228	(12,863)	95,201	(36,990)
Ending balance		518,129	385,383	518,129	385,383
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(140,869)	(159,785)	(133,635)	(139,227)
Other comprehensive income (loss), net of tax		4,824	18,758	(2,410)	(1,800)
Ending balance		$ (136,045)	$ (141,027)	$ (136,045)	$ (141,027)
[1]	(a) Repurchased to satisfy the tax withholding requirements related to the issuance of stock under the Rayonier Advanced Materials Incentive Stock Plan.

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	Jun. 26, 2021	Jan. 29, 2018
Equity [Abstract]
Amount authorized under share repurchase program		$ 100,000,000
Amount available under share repurchase program	$ 60,000,000

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		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Earnings Per Share [Abstract]
Income (loss) from continuing operations	$ 8,297	$ (3,505)	$ (7,913)	$ (21,493)
Income (loss) from discontinued operations	113,931	(9,358)	103,114	(15,497)
Net income (loss) available for common stockholders	$ 122,228	$ (12,863)	$ 95,201	$ (36,990)
Shares used for determining basic earnings per share of common stock (in shares)	63,654,278	63,235,151	63,545,599	63,111,058
Dilutive effect of:
Stock options (in shares)	0	0	0	0
Performance and restricted stock (in shares)	1,159,735	0	0	0
Shares used for determining diluted earnings per share of common stock (in shares)	64,814,013	63,235,151	63,545,599	63,111,058
Basic per share amounts
Income (loss) from continuing operations (in dollars per share)	$ 0.13	$ (0.05)	$ (0.12)	$ (0.34)
Income (loss) from discontinued operations (in dollars per share)	1.79	(0.15)	1.62	(0.25)
Net income (loss) per common share-basic (in dollars per share)	1.92	(0.20)	1.50	(0.59)
Diluted per share amounts
Income (loss) from continuing operations (in dollars per share)	0.13	(0.05)	(0.12)	(0.34)
Income (loss) from discontinued operations (in dollars per share)	1.76	(0.15)	1.62	(0.25)
Net income (loss) per common share-diluted (in dollars per share)	$ 1.89	$ (0.20)	$ 1.50	$ (0.59)

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		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive instruments (in shares)	778,065	2,845,339	2,409,390	2,845,339
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive instruments (in shares)	122,525	153,977	122,525	153,977
Performance and restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total anti-dilutive instruments (in shares)	655,540	2,691,362	2,286,865	2,691,362

Incentive Stock Plans - Narrati

Incentive Stock Plans - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 27, 2021	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,000	$ 3,000	$ 385	$ 5,000
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]
Settlement percentage	60.00%
Shares issued (in shares)	182,811
Performance-Based Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target payout percentage				0.00%
Performance-Based Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target payout percentage				200.00%

Incentive Stock Plans - Schedul

Incentive Stock Plans - Schedule of Outstanding Awards (Details)	6 Months Ended
	Jun. 26, 2021$ / sharesshares
Stock Options
Stock Options, Options
Beginning Balance (in shares) | shares	152,281
Granted (in shares) | shares	0
Forfeited (in shares) | shares	0
Exercised or settled (in shares) | shares	0
Expired or cancelled (in shares) | shares	(29,756)
Ending Balance (in shares) | shares	122,525
Stock Options, Weighted Average Exercise Price
Beginning balance (in dollars per share) | $ / shares	$ 38.26
Granted (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Exercised or settled (in dollars per share) | $ / shares	0
Expired or cancelled (in dollars per share) | $ / shares	33.39
Ending balance (in dollars per share) | $ / shares	$ 39.44
Restricted Stock Units
Awards Other than Options, Awards
Beginning Balance (in shares) | shares	828,955
Granted (in shares) | shares	551,476
Forfeited (in shares) | shares	(108,986)
Exercised or settled (in shares) | shares	(326,830)
Expired or cancelled (in shares) | shares	0
Ending Balance (in shares) | shares	944,615
Awards Other than Options, Weighted Average Grant Date Fair Value
Beginning balances (in dollars per share) | $ / shares	$ 10.27
Granted (in dollars per share) | $ / shares	9.76
Forfeited (in dollars per share) | $ / shares	11.68
Exercised or settled (in dollars per share) | $ / shares	13.50
Expired or cancelled (in dollars per share) | $ / shares	0
Ending balances (in dollars per share) | $ / shares	$ 8.69
Performance-Based Stock Units
Awards Other than Options, Awards
Beginning Balance (in shares) | shares	1,821,402
Granted (in shares) | shares	136,061
Forfeited (in shares) | shares	(312,697)
Exercised or settled (in shares) | shares	(302,516)
Expired or cancelled (in shares) | shares	0
Ending Balance (in shares) | shares	1,342,250
Awards Other than Options, Weighted Average Grant Date Fair Value
Beginning balances (in dollars per share) | $ / shares	$ 8.77
Granted (in dollars per share) | $ / shares	17.61
Forfeited (in dollars per share) | $ / shares	8.92
Exercised or settled (in dollars per share) | $ / shares	22.76
Expired or cancelled (in dollars per share) | $ / shares	0
Ending balances (in dollars per share) | $ / shares	$ 6.48

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Pension
Defined Benefit Plans Disclosure [Line Items]
Service cost	$ 2,600	$ 2,207	$ 5,181	$ 4,482
Interest cost	4,446	5,844	8,851	11,748
Expected return on plan assets	(9,673)	(9,246)	(19,279)	(18,612)
Amortization of prior service cost	177	178	352	357
Amortization of losses	4,086	3,427	8,163	6,854
Pension settlement loss (gain)	890	0	890	0
Total net periodic benefit cost	2,526	2,410	4,158	4,829
Postretirement
Defined Benefit Plans Disclosure [Line Items]
Service cost	363	316	725	674
Interest cost	176	149	351	428
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	(38)	(38)	(76)	(77)
Amortization of losses	2	(57)	6	(91)
Pension settlement loss (gain)	0	0	0	0
Total net periodic benefit cost	$ 503	$ 370	$ 1,006	$ 934

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Income Tax Disclosure [Abstract]
Effective rate	153.00%	83.00%	77.00%	47.00%

Segment and Geographical Info_3

Segment and Geographical Information - Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 341,019	$ 324,170	$ 659,697	$ 648,645
Operating income (loss)	1,377	(6,161)	903	(12,327)
Total identifiable assets	2,648,302		2,648,302		$ 2,529,865
Operating Segments | High Purity Cellulose
Segment Reporting Information [Line Items]
Net sales	254,599	255,055	504,360	504,632
Operating income (loss)	10,623	6,721	17,051	1,863
Total identifiable assets	1,540,743		1,540,743		1,528,929
Operating Segments | Paperboard
Segment Reporting Information [Line Items]
Operating income (loss)	2,441	6,261	8,196	10,936
Total identifiable assets	120,125		120,125		129,871
Operating Segments | High-Yield Pulp
Segment Reporting Information [Line Items]
Operating income (loss)	1,079	570	538	(476)
Total identifiable assets	38,985		38,985		33,259
Operating Segments | Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(12,766)	(19,713)	(24,882)	(24,650)
Operating Segments | Corporate and other
Segment Reporting Information [Line Items]
Total identifiable assets	702,806		702,806		624,541
Eliminations
Segment Reporting Information [Line Items]
Net sales	(7,128)	(5,876)	(13,604)	(11,439)
Assets Held for Sale
Segment Reporting Information [Line Items]
Total identifiable assets	245,643		245,643		$ 213,265
Cellulose Specialties | Operating Segments | High Purity Cellulose
Segment Reporting Information [Line Items]
Net sales	167,576	161,075	335,413	321,310
Commodity Products | Operating Segments | High Purity Cellulose
Segment Reporting Information [Line Items]
Net sales	62,384	75,428	121,317	141,951
Other sales | Operating Segments | High Purity Cellulose
Segment Reporting Information [Line Items]
Net sales	24,639	18,552	47,630	41,371
Paperboard | Operating Segments | Paperboard
Segment Reporting Information [Line Items]
Net sales	56,762	43,144	104,611	93,630
High-Yield Pulp | Operating Segments | High-Yield Pulp
Segment Reporting Information [Line Items]
Net sales	$ 36,786	$ 31,847	$ 64,330	$ 61,822

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Millions, $ in Millions	Apr. 19, 2021CAD ($)	May 31, 2020CAD ($)	Jun. 26, 2021USD ($)sawmill	Dec. 31, 2017
Guarantor Obligations [Line Items]
Number of lumbar mills | sawmill			6
Anti-dumping duty			160.00%	600.00%
Countervailing duty			740.00%	1400.00%
Rights to duty refunds			$ 108
Duties receivable			$ 21
IESO Investigation of the Kapuskasing Facility
Guarantor Obligations [Line Items]
Penalty		$ 25
Penalty due immediately		3
Penalty due over time		$ 12
Penalty payment period		10 years
Penalty deferred		$ 10
Settlement	$ 12
Settlement payment period	5 years
Settlement due immediately	$ 4.5
Settlement due over time	7.5
Settlement suspended	$ 10.4
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]
Letters of credit			$ 41
Surety Bond
Guarantor Obligations [Line Items]
Guarantees			86
Contract Guarantee
Guarantor Obligations [Line Items]
Guarantees			$ 33

Supplemental Disclosures of C_3

Supplemental Disclosures of Cash Flows Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 13,394	$ 24,916
Income taxes paid (received)	(21,032)	633
Capital assets purchased on account	15,704	11,136
Assets acquired under operating leases	$ 624	$ 658