INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2025	Jun. 30, 2024	Jun. 30, 2025	Jun. 30, 2024
Cash flows from (used in) operating activities
Net Income (Loss)	$ (86,071,000)	$ (67,586,000)	$ (108,410,000)	$ (84,289,000)
Adjustments to reconcile net loss to cash flows from operating activities
Depreciation and amortization	37,523,000	39,941,000	77,878,000	80,345,000
Deferred income tax provision (recovery)	(1,632,000)	7,322,000	(11,138,000)	(6,104,000)
Inventory impairment	11,000,000	0	11,000,000	0
Loss on disposal of investment in joint venture	0	0	0	23,645,000
Goodwill impairment	0	34,277,000	0	34,277,000
Defined benefit pension plans and other post-retirement benefit plan expense	175,000	431,000	344,000	641,000
Stock compensation expense	1,036,000	1,403,000	2,042,000	3,432,000
Foreign exchange transaction losses (gains)	9,361,000	(3,382,000)	17,779,000	(6,831,000)
Other	3,012,000	1,389,000	4,640,000	2,116,000
Defined benefit pension plans and other post-retirement benefit plan contributions	0	(288,000)	0	(617,000)
Changes in working capital
Accounts receivable	31,588,000	21,929,000	14,790,000	(41,800,000)
Inventories	(17,175,000)	4,506,000	(24,066,000)	4,595,000
Accounts payable and accrued expenses	(12,046,000)	15,718,000	16,386,000	18,108,000
Prepaid expenses and other	18,703,000	6,525,000	(8,760,000)	5,473,000
Net cash from (used in) operating activities	(4,526,000)	62,185,000	(7,515,000)	32,991,000
Cash flows from (used in) investing activities
Purchase of property, plant and equipment	(24,331,000)	(17,883,000)	(44,413,000)	(36,344,000)
Proceeds from government grants	3,115,000	0	3,115,000	787,000
Other	(1,557,000)	(2,271,000)	(1,335,000)	(2,081,000)
Net cash from (used in) investing activities	(22,773,000)	(20,154,000)	(42,633,000)	(37,638,000)
Cash flows from (used in) financing activities
Proceeds from (repayment of) revolving credit facilities, net	3,607,000	(44,965,000)	25,361,000	(35,840,000)
Dividend payments	(5,015,000)	(5,014,000)	(5,015,000)	(5,014,000)
Payment of finance lease obligations	(2,405,000)	(2,687,000)	(4,913,000)	(4,876,000)
Other	545,000	(614,000)	545,000	(729,000)
Net cash from (used in) financing activities	(3,268,000)	(53,280,000)	15,978,000	(46,459,000)
Effect of exchange rate changes on cash and cash equivalents	(4,407,000)	150,000	(4,256,000)	287,000
Net decrease in cash and cash equivalents	(34,974,000)	(11,099,000)	(38,426,000)	(50,819,000)
Cash and cash equivalents, beginning of period	181,473,000	274,272,000	184,925,000	313,992,000
Cash and cash equivalents, end of period	146,499,000	263,173,000	146,499,000	263,173,000
Supplemental cash flow disclosure:
Cash paid for interest	28,209,000	16,813,000	53,415,000	51,529,000
Cash paid for income taxes	12,679,000	4,522,000	29,591,000	12,695,000
Supplemental schedule of non-cash investing and financing activities:
Leased production and other equipment	$ 4,072,000	$ 4,131,000	$ 5,460,000	$ 8,645,000

MERCER INTERNATIONAL INC. 10-Q