Segments (Tables)

3 Months Ended

Mar. 28, 2026

Schedule of Segment Reporting Information, by Segment

Net sales by product line, by segment, were as follows:


	Three Months Ended
	March 28, 2026		March 29, 2025
High Purity Cellulose
Cellulose Specialties	$	148,072	$	194,552
Cellulose Commodities	102,211		72,842
Biomaterials and other	12,618		11,245
Total High Purity Cellulose	262,901		278,639
Paperboard & High Yield Pulp
Paperboard	41,726		49,193
High Yield Pulp	14,367		24,692
Total Paperboard & High Yield Pulp	56,093		73,885
Corporate & Other	71		60
Net sales	$	319,065	$	352,584

Significant segment expenses included the following:


	Three Months Ended March 28, 2026
	High Purity Cellulose		Paperboard & High Yield Pulp		Total
Segment net sales	$	262,901	$	56,093	$	318,994
Corporate & Other net sales					71
Total consolidated net sales					$	319,065

Cost of sales
Key input costs (wood, chemicals, energy)	109,404		30,924
Fixed and other costs of sales(a)	152,858		33,366
Total segment cost of sales	262,262		64,290		$	326,552
Selling, general and administrative expense	6,071		1,985
Temiscaming HPC permanent idling charges	40,883		—

Other segment items(b)	(3,132)		17
Segment operating loss	$	(43,183)	$	(10,199)	(53,382)

Reconciliation of Segment Operating Loss to Consolidated Loss before Income Tax
Corp & Other operating loss					(11,933)
Interest expense					(23,114)
Components of pension and OPEB, excluding service costs					1,033
Other expense, net					(952)
Loss before income tax					$	(88,348)

Other segment items
Depreciation and amortization	$	28,100	$	3,947	$	32,047
Temiscaming HPC permanent idling charges - accelerated depreciation	34,494		—		34,494
Segment depreciation and amortization	$	62,594	$	3,947	66,541
Corp & Other depreciation and amortization					1,406
Total consolidated depreciation and amortization					$	67,947


	Three Months Ended March 29, 2025
	High Purity Cellulose		Paperboard & High Yield Pulp		Total
Segment net sales	$	278,639	$	73,885	$	352,524
Corporate & Other net sales					60
Total consolidated net sales					$	352,584

Cost of sales
Key input costs (wood, chemicals, energy)	112,100		48,536
Fixed and other costs of sales(a)	137,461		30,181
Total segment cost of sales	249,561		78,717		$	328,278
Selling, general and administrative expense	7,764		3,492


Other segment items(b)	1,019		471
Segment operating income (loss)	$	20,295	$	(8,795)	11,500

Reconciliation of Segment Operating Loss to Consolidated Loss before Income Tax
Corporate & Other operating loss					(26,593)
Interest expense					(23,603)
Components of pension and OPEB, excluding service costs					632
Other income, net					892
Loss before income tax					$	(37,172)

Other segment items
Depreciation and amortization	$	25,083	$	5,827	$	30,910
Corporate & Other depreciation and amortization					341
Total consolidated depreciation and amortization					$	31,251

(a)Primarily includes salaries, wages and benefits, depreciation and amortization, logistics costs and maintenance costs.

(b)Primarily includes foreign exchange gain (loss), environmental remediation expense, gain (loss) on disposal of property, plant and equipment and income (loss) from equity method investments.

Schedule of Reconciliation of Identifiable Assets

Identifiable assets by segment include the Company’s current assets and were as follows:


	March 28, 2026		December 31, 2025
High Purity Cellulose	$	405,976	$	446,521
Paperboard & High Yield Pulp	104,722		101,787
Corporate & Other	18,534		20,075
Total assets	$	529,232	$	568,383