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Domtar Corp (UFS) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

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 2019 FINANCIAL RESULTS

Earnings affected by lower pulp and paper prices and market related downtime in paper

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

 

Fourth quarter 2019 net loss of $0.59 per share; earnings before items1 of $0.03 per share

92,000 tons of market-related downtime in paper

$80 million of share repurchases

Fort Mill, SC, February 7, 2020 – 

Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported a net loss of $34 million ($0.59 per share) for the fourth quarter of 2019 compared to net earnings of $20 million ($0.32 per share) for the third quarter of 2019 and net earnings of $87 million ($1.38 per share) for the fourth quarter of 2018. Sales for the fourth quarter of 2019 were $1.2 billion.

Excluding items listed below, the Company had earnings before items1 of $2 million ($0.03 per share) for the fourth quarter of 2019 compared to earnings before items1 of $55 million ($0.89 per share) for the third quarter of 2019 and earnings before items1 of $103 million ($1.63 per share) for the fourth quarter of 2018.

ITEMS

Description

Segment

Line item

Amount

After tax

effect

EPS impact

(per share)

 

 

 

(in millions)

 

Fourth quarter 2019

 

 

 

 

 

 

 

 

 

 

 

Pension settlement

   loss

Pulp and Paper

Non-service components of net periodic benefit cost

$30

$22

$0.38

 

 

 

 

 

 

Paper machine

   closures

Pulp and Paper

Closure and

restructuring costs

$17

$13

$0.22

 

 

 

 

 

 

Margin improvement

   plan

Personal Care

Closure and

restructuring costs

$2

$1

$0.02

 

 

 

 

 

 

 

1 

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

1 / 4


The following information was filed by Domtar Corp (UFS) on Friday, February 7, 2020 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 Statement Of Shareholders' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Earnings (Loss) And Comprehensive Income (Loss)
Consolidated Statements Of Earnings (Loss) And Comprehensive Income (Loss) (Parenthetical)
Acquisition Of Business
Acquisition Of Business (Tables)
Acquisition Of Business - Additional Information (Detail)
Acquisition Of Business - Fair Value Of Assets Acquired - Home Delivery Incontinent Supplies Co (Detail)
Acquisition Of Business - Fair Value Of Assets Acquired - Home Delivery Incontinent Supplies Co (Parenthetical) (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 Liability
Closure And Restructuring Costs And Liability (Tables)
Closure And Restructuring Costs And Liability - Activity In Closure And Restructuring Liability (Detail)
Closure And Restructuring Costs And Liability - Additional Information (Detail)
Closure And Restructuring Costs And Liability - 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)
Earnings (Loss) Per Common Share
Earnings (Loss) Per Common Share (Tables)
Earnings (Loss) Per Common Share - Reconciliation Between Basic And Diluted Earnings (Loss) Per Common Share (Detail)
Earnings (Loss) Per Common Share - Securities That Could Potentially Dilute Basic Earnings (Loss) Per Common Share In Future (Detail)
Impairment Of Long-Lived Assets
Impairment Of Long-Lived Assets - Additional Information (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Earnings (Loss) 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 - Effect Of One Percent Change In Assumed Health Care Cost (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 - Fair Value Of Plan Asset By Assets Category (Parenthetical) (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
Recent Accounting Pronouncements - Additional Information (Detail)
Schedule Ii - Valuation And Qualifying Accounts (Detail)
Segment Disclosures
Segment Disclosures (Tables)
Segment Disclosures - Additional Information (Detail)
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: 0001564590-20-006192
Submitted to the SEC: Tue Feb 25 2020 7:03:34 AM EST
Accepted by the SEC: Tue Feb 25 2020
Period: Tuesday, December 31, 2019
Industry: Paper Mills

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