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GLATFELTER P H CO

CIK:0000041719|SEC Filings

Consolidated and Combined Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Consolidated and Combined Statements of Operations [Abstract]
Net sales	$ 857	$ 839	$ 2,445	$ 2,365
Costs and expenses:
Cost of goods sold	745	749	2,141	2,116
Selling, general and administrative	56	50	156	144
Amortization of intangibles	11	13	34	41
Restructuring and other activities	23	14	61	69
Operating income (loss)	22	13	53	(5)
Other expense, net	3	0	5	26
Interest expense, net	37	37	112	102
Loss before income taxes	(18)	(24)	(64)	(133)
Income tax expense (benefit)	2	(6)	8	(14)
Net loss	$ (20)	$ (18)	$ (72)	$ (119)
Net loss per share: Basic (in Dollars per share)	$ (0.56)	$ (0.51)	$ (2.01)	$ (3.35)
Net loss per share: Diluted (in Dollars per share)	$ (0.56)	$ (0.51)	$ (2.01)	$ (3.35)

Condensed Consolidated and Combined Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Cash Flows from Operating Activities:
Net loss	$ (72)	$ (119)
Adjustments to reconcile net cash from operating activities:
Depreciation	116	128
Amortization of intangibles	34	41
Non-cash interest expense	18	12
Deferred income tax	(2)	7
Share-based compensation expense	13	15
Loss on disposition of facility	7	0
Other non-cash operating activities, net	11	45
Changes in working capital, net	(34)	(119)
Changes in other assets and liabilities	(15)	(3)
Net cash from operating activities	76	7
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(44)	(52)
Proceeds from divestiture	7	0
Cash acquired from merger	0	37
Settlement of net investment hedges	0	22
Net cash (used in) from investing activities	(37)	7
Cash Flows from Financing Activities:
Proceeds from long-term borrowings	0	1,556
Repayments on long-term borrowings	(65)	(434)
Transfers from parent, net	0	34
Cash distributions to parent	0	(1,111)
Debt fees and other, net	0	(17)
Net cash (used in) from financing activities	(65)	28
Effect of currency translation on cash	1	4
Net change in cash and cash equivalents	(25)	46
Cash and cash equivalents at beginning of period	305	230
Cash and cash equivalents at the end of period	$ 280	$ 276

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 27, 2026	Sep. 27, 2025
Current assets:
Cash and cash equivalents	$ 280	$ 305
Accounts receivable	531	522
Finished goods	297	303
Raw materials	201	171
Prepaid expenses and other current assets	83	122
Total current assets	1,392	1,423
Noncurrent assets:
Property, plant and equipment	1,393	1,476
Goodwill and intangible assets	858	890
Right-of-use assets	58	62
Other assets	133	138
Total assets	3,834	3,989
Current liabilities:
Accounts payable	361	356
Accrued employee costs	86	90
Other current liabilities	122	155
Total current liabilities	569	601
Noncurrent liabilities:
Long-term debt	1,901	1,952
Deferred income taxes	50	46
Operating lease liabilities	42	45
Other long-term liabilities	255	281
Total liabilities	2,817	2,925
Equity:
Common stock (35.8 and 35.6 million shares issued, respectively)	1	1
Additional paid-in capital	1,430	1,417
Retained loss	(231)	(159)
Accumulated other comprehensive loss	(183)	(195)
Total equity	1,017	1,064
Total liabilities and equity	$ 3,834	$ 3,989