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Domtar Corp (UFS) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

SEC Filings

Domtar Corp

CIK: 1381531 Ticker: UFS

 

Exhibit 99.1

 

 

 

234 Kingsley Park Drive

Fort Mill, South Carolina 29715

 

News Release

 

TICKER SYMBOL

Investor RELATIONS

MEDIA RELATIONS

(NYSE: UFS) (TSX: UFS)

Nicholas Estrela

Director

Investor Relations

Tel.: 514-848-5049

David Struhs

Vice-President

Corporate Services and Sustainability

Tel.: 803-802-8031

DOMTAR CORPORATION REPORTS PRELIMINARY FOURTH QUARTER AND FISCAL YEAR 2020 FINANCIAL RESULTS

(All financial information is in U.S. dollars, and all earnings per share results are diluted, unless otherwise noted).

 

Fourth quarter 2020 net loss from continuing operations of $0.29 per share; earnings from continuing operations before items1 of $0.34 per share

$135 million of cash flow from operations

Announced sale of Personal Care Business to American Industrial Partners for $920 million

Fort Mill, SC, February 11, 2021 – 

Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported a net loss of $59 million ($1.07 per share) for the fourth quarter of 2020 compared to a net loss of $92 million ($1.67 per share) for the third quarter of 2020, and a net loss of $34 million ($0.59 per share) for the fourth quarter of 2019. Sales for the fourth quarter of 2020 were $0.9 billion.

The fourth quarter 2020 results include an after-tax loss of $43 million ($0.78 per share) from discontinued operations related to the announced sale of the Personal Care Business, compared to earnings of $19 million ($0.34 per share) for the third quarter of 2020 and earnings of $10 million ($0.17 per share) for the fourth quarter of 2019.

Excluding discontinued operations and the items listed below, the Company had earnings from continuing operations before items1 of $19 million ($0.34 per share) for the fourth quarter of 2020, compared to loss from continuing operations before items1 of $1 million ($0.02 per share) for the third quarter of 2020 and loss from continuing operations before items1 of $9 million ($0.16 per share) for the fourth quarter of 2019.

ITEMS

 

1 

  Non-GAAP financial measure. Refer to the Reconciliation of Non-GAAP Financial Measures in the appendix.

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The following information was filed by Domtar Corp (UFS) on Thursday, February 11, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Domtar Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Shareholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Earnings (Loss) And Comprehensive Income (Loss)
Consolidated Statements Of Earnings (Loss) And Comprehensive Income (Loss) (Parenthetical)
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Acquisition Of Business
Acquisition Of Business (Tables)
Acquisition Of Business - Additional Information (Detail)
Acquisition Of Business - Schedule Of Preliminary Purchase Price Allocation (Detail)
Changes In Accumulated Other Comprehensive Loss By Component
Changes In Accumulated Other Comprehensive Loss By Component (Tables)
Changes In Accumulated Other Comprehensive Loss By Component - Schedule Of Changes In Accumulated Other Comprehensive Loss By Component (Detail)
Changes In Accumulated Other Comprehensive Loss By Component - Schedule Of Reclassifications Out Of Accumulated Other Comprehensive Loss (Detail)
Changes In Accumulated Other Comprehensive Loss By Component - Schedule Of Reclassifications Out Of Accumulated Other Comprehensive Loss (Parenthetical) (Detail)
Closure And Restructuring Costs And Impairment Of Long-Lived Assets
Closure And Restructuring Costs And Impairment Of Long-Lived Assets (Tables)
Closure And Restructuring Costs And Impairment Of Long-Lived Assets - Activity In Closure And Restructuring Liability (Detail)
Closure And Restructuring Costs And Impairment Of Long-Lived Assets - Additional Information (Detail)
Closure And Restructuring Costs And Impairment Of Long-Lived Assets - Components Of Closure And Restructuring Costs By Segment (Detail)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Detail)
Commitments And Contingencies - Anticipated Undiscounted Payments (Detail)
Commitments And Contingencies - Changes In Reserve For Environmental Remediation And Asset Retirement Obligations (Detail)
Commitments And Contingencies - Changes In Reserve For Environmental Remediation And Asset Retirement Obligations (Parenthetical) (Detail)
Commitments And Contingencies - Minimum Future Payments Under Other Commercial Commitments (Detail)
Derivatives And Hedging Activities And Fair Value Measurement
Derivatives And Hedging Activities And Fair Value Measurement (Tables)
Derivatives And Hedging Activities And Fair Value Measurement - Additional Information (Detail)
Derivatives And Hedging Activities And Fair Value Measurement - Currency Values Under Significant Currency Positions Pursuant To Currency Derivatives Outstanding (Detail)
Derivatives And Hedging Activities And Fair Value Measurement - Derivative Financial Instruments For Natural Gas Contracts Outstanding (Detail)
Derivatives And Hedging Activities And Fair Value Measurement - Fair Value Of Financial Instruments (Detail)
Derivatives And Hedging Activities And Fair Value Measurement - Fair Value Of Financial Instruments (Parenthetical) (Detail)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Detail)
Discontinued Operations - Schedule Of Cash Flows From Discontinued Operations (Detail)
Discontinued Operations - Schedule Of Major Classes Of Assets And Liabilities Classified As Held For Sale In Balance Sheets (Detail)
Discontinued Operations - Schedule Of Major Classes Of Assets And Liabilities Classified As Held For Sale In Balance Sheets (Parenthetical) (Detail)
Discontinued Operations - Schedule Of Major Components Of Earnings (Loss) From Discontinued Operations (Detail)
Earnings (Loss) Per Common Share
Earnings (Loss) Per Common Share (Tables)
Earnings (Loss) Per Common Share - Reconciliation Between Basic And Diluted (Loss) Earnings Per Common Share (Detail)
Earnings (Loss) Per Common Share - Securities That Could Potentially Dilute Basic Earnings (Loss) Per Common Share In Future (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of (Loss) Earnings Before Income Taxes (Detail)
Income Taxes - Deferred Tax Assets And Liabilities (Detail)
Income Taxes - Gross Unrecognized Tax Benefits (Detail)
Income Taxes - Provisions For Income Taxes (Detail)
Income Taxes - Reconciliation Of Income Tax Expense (Benefit) To U.S. Federal Statutory Income Tax (Detail)
Intangible Assets
Intangible Assets (Tables)
Intangible Assets - Additional Information (Detail)
Intangible Assets - Amortization Expense Related To Intangible Assets (Detail)
Intangible Assets - Components Of Intangible Assets (Detail)
Interest Expense, Net
Interest Expense, Net (Tables)
Interest Expense, Net - Components Of Interest Expense, Net (Detail)
Interest Expense, Net - Components Of Interest Expense, Net (Parenthetical) (Detail)
Interim Financial Results
Interim Financial Results (Tables)
Interim Financial Results - Schedule Of Interim Financial Results (Detail)
Interim Financial Results - Schedule Of Interim Financial Results (Parenthetical) (Detail)
Inventories
Inventories (Tables)
Inventories - Components Of Inventories (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Summary Of Components Of Lease Expense (Detail)
Leases - Summary Of Maturities Of Lease Liabilities (Detail)
Leases - Summary Of Supplemental Balance Sheet Information Related To Leases (Detail)
Leases - Summary Of Supplemental Cash Flow Information Related To Leases (Detail)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Detail)
Long-Term Debt - Components Of Long-Term Debt (Detail)
Long-Term Debt - Components Of Long-Term Debt (Parenthetical) (Detail)
Long-Term Debt - Principal Long-Term Debt Repayments, Including Finance Lease Obligations (Detail)
Other Assets
Other Assets (Tables)
Other Assets - Components Of Other Assets (Detail)
Other Liabilities And Deferred Credits
Other Liabilities And Deferred Credits (Tables)
Other Liabilities And Deferred Credits - Additional Information (Detail)
Other Liabilities And Deferred Credits - Components Of Other Liabilities And Deferred Credits (Detail)
Other Liabilities And Deferred Credits - Domtar's Asset Retirement Obligations (Detail)
Other Operating Loss (Income), Net
Other Operating Loss (Income), Net (Tables)
Other Operating Loss (Income), Net - Components Of Other Operating Loss (Income), Net (Detail)
Pension Plans And Other Post-Retirement Benefit Plans
Pension Plans And Other Post-Retirement Benefit Plans (Tables)
Pension Plans And Other Post-Retirement Benefit Plans - Additional Information (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Allocation Of Plan Assets, Based On Fair Value Of Assets Held And Target Allocation (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Allocation Of Plan Assets, Based On Fair Value Of Assets Held And Target Allocation (Parenthetical) (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Amount Recognized In Consolidated Balance Sheets (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Change In Fair Value Of Assets (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Change In Fair Value Of Assets (Parenthetical) (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Change In Projected Benefit Obligation (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Changes In Level 3 Fair Value Measurements Of Plan Assets (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Components Of Net Periodic Benefit Cost For Pension Plans And Other Post-Retirement Benefit Plans (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Estimated Future Benefit Payments From Plans (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Fair Value Of Plan Asset By Assets Category (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Funded Status Of Plans (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Key Assumptions To Measure Projected Benefit Obligation And Net Periodic Benefit Cost (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Pre-Tax Amounts Included In Other Comprehensive Income (Loss) (Detail)
Pension Plans And Other Post-Retirement Benefit Plans - Pre-Tax Amounts Included In Other Comprehensive Income (Loss) (Parenthetical) (Detail)
Property, Plant And Equipment
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Additional Information (Detail)
Property, Plant And Equipment - Components Of Property, Plant And Equipment (Detail)
Recent Accounting Pronouncements
Schedule Ii - Valuation And Qualifying Accounts (Detail)
Segment Disclosures
Segment Disclosures (Tables)
Segment Disclosures - Additions To Property, Plant And Equipment (Detail)
Segment Disclosures - Analysis And Reconciliation Of Reportable Segment Information (Detail)
Segment Disclosures - Analysis And Reconciliation Of Reportable Segment Information (Parenthetical) (Detail)
Segment Disclosures - Consolidated Assets (Detail)
Segment Disclosures - Geographic Information On Sales (Detail)
Segment Disclosures - Long-Lived Assets (Detail)
Shareholders' Equity
Shareholders' Equity (Tables)
Shareholders' Equity - Additional Information (Detail)
Shareholders' Equity - Changes In Number Of Outstanding Common Stock And Their Aggregate Stated Value (Detail)
Shareholders' Equity - Changes In Number Of Outstanding Common Stock And Their Aggregate Stated Value (Parenthetical) (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Assumptions Used In Calculating Fair Value Of Options Granted (Detail)
Stock-Based Compensation - Summary Of Outstanding Awards (Detail)
Stock-Based Compensation - Summary Of Outstanding Awards, Options (Detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Information (Detail)
Summary Of Significant Accounting Policies - Amortization Period Of Finite Lived Assets (Detail)
Supplemental Guarantor Financial Information
Supplemental Guarantor Financial Information (Tables)
Supplemental Guarantor Financial Information - Additional Information (Detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Balance Sheet (Detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Statement Of Cash Flows (Detail)
Supplemental Guarantor Financial Information - Condensed Consolidating Statement Of Earnings (Loss) And Comprehensive Income (Loss) (Detail)
Trade And Other Payables
Trade And Other Payables (Tables)
Trade And Other Payables - Components Of Trade And Other Payables (Detail)
Valuation And Qualifying Accounts
Ticker: UFS
CIK: 1381531
Form Type: 10-K Annual Report
Accession Number: 0001564590-21-009629
Submitted to the SEC: Mon Mar 01 2021 7:01:18 AM EST
Accepted by the SEC: Mon Mar 01 2021
Period: Thursday, December 31, 2020
Industry: Paper Mills

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