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BOISE INC.

SIC 2600 · Papers & Allied Products
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BOISE INC.

CIK:0001391390|SEC Filings
v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Sales        
Trade $ 604,821 $ 618,585 $ 1,196,142 $ 1,252,113
Related party 16,843 19,255 32,540 30,573
Total sales 621,664 637,840 1,228,682 1,282,686
Costs and expenses        
Materials, labor, and other operating expenses (excluding depreciation) 495,689 507,343 991,958 1,009,642
Fiber costs from related party 5,319 4,466 11,465 9,412
Depreciation, amortization, and depletion 43,891 [1] 37,303 87,319 [1] 74,859 [1]
Selling and distribution expenses 33,764 30,568 62,613 61,210
General and administrative expenses 19,693 20,035 38,616 40,043
Restructuring costs 9,011 0 9,474 0
Other (income) expense, net 1,930 381 1,798 81
Total costs and expenses 609,297 600,096 1,203,243 1,195,247
Income from operations 12,367 37,744 25,439 87,439
Foreign exchange gain (loss) (415) 102 (756) 259
Interest expense (15,456) (15,433) (30,875) (30,798)
Interest income 7 54 34 98
Total nonoperating income (expense) (15,864) (15,277) (31,597) (30,441)
Income (loss) before income taxes (3,497) 22,467 (6,158) 56,998
Income tax (provision) benefit 1,289 (8,805) 2,725 (21,998)
Net income (loss) (2,208) 13,662 (3,433) 35,000
Weighted average common shares outstanding:        
Basic 100,531 100,116 100,387 99,584
Diluted 100,531 101,008 100,387 101,182
Net income (loss) per common share:        
Basic $ (0.02) $ 0.14 $ (0.03) $ 0.35
Diluted $ (0.02) $ 0.14 $ (0.03) $ 0.35
BZ Intermediate Holdings LLC [Member]
        
Sales        
Trade 604,821 618,585 1,196,142 1,252,113
Related party 16,843 19,255 32,540 30,573
Total sales 621,664 637,840 1,228,682 1,282,686
Costs and expenses        
Materials, labor, and other operating expenses (excluding depreciation) 495,689 507,343 991,958 1,009,642
Fiber costs from related party 5,319 4,466 11,465 9,412
Depreciation, amortization, and depletion 43,891 37,303 87,319 74,859
Selling and distribution expenses 33,764 30,568 62,613 61,210
General and administrative expenses 19,693 20,035 38,616 40,043
Restructuring costs 9,011 0 9,474 0
Other (income) expense, net 1,930 381 1,798 81
Total costs and expenses 609,297 600,096 1,203,243 1,195,247
Income from operations 12,367 37,744 25,439 87,439
Foreign exchange gain (loss) (415) 102 (756) 259
Interest expense (15,456) (15,433) (30,875) (30,798)
Interest income 7 54 34 98
Total nonoperating income (expense) (15,864) (15,277) (31,597) (30,441)
Income (loss) before income taxes (3,497) 22,467 (6,158) 56,998
Income tax (provision) benefit 1,289 (8,805) 2,725 (21,998)
Net income (loss) $ (2,208) $ 13,662 $ (3,433) $ 35,000
[1] During the three and six months ended June 30, 2013, we recognized $5.5 million and $10.8 million, respectively, of incremental depreciation expense related to shortening the useful lives of some of our assets, primarily at International Falls, Minnesota. We recognized $3.8 million and $7.6 million of incremental depreciation expense in our Paper segment during the three and six months ended June 30, 2013, respectively, and $1.7 million and $3.2 million of incremental depreciation expense, respectively, in our Packaging segment.