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10-K
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
SUBSIDIARIES OF VERSO CORPORATION
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER OF VERSO CORPORATION
CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER OF VERSO CORPORATION
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER OF VERSO PAPER HOLDINGS LLC
CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER OF VERSO PAPER HOLDINGS LLC
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER OF VERSO CORPORATION
CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER OF VERSO CORPORATION
CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER OF VERSO PAPER HOLDINGS LLC
CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER OF VERSO PAPER HOLDINGS LLC
Quarterly Data (Detail) (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified
3 Months Ended
12 Months Ended
27 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Net sales
$ 326,400,000
$ 350,200,000
$ 320,900,000
$ 299,100,000
$ 350,400,000
$ 374,900,000
$ 330,400,000
$ 333,200,000
$ 1,296,613,000
$ 1,388,899,000
$ 1,474,612,000
Gross margin
23,200,000
55,400,000
45,200,000
(3,200,000)
62,800,000
69,100,000
36,500,000
41,400,000
Cost of products sold
319,900,000
317,900,000
301,100,000
328,000,000
313,700,000
332,100,000
320,200,000
317,800,000
Selling, general, and administrative expenses
16,700,000
17,800,000
17,800,000
17,600,000
17,800,000
18,000,000
19,200,000
18,800,000
69,945,000
73,777,000
74,415,000
Restructuring charges
134,500,000
0
0
0
100,000
100,000
200,000
1,000,000
134,486,000
1,378,000
102,404,000
103,782,000
Other operating income
0
0
0
0
0
0
(700,000)
(3,300,000)
0
(3,971,000)
(60,594,000)
Interest expense
35,400,000
36,700,000
35,700,000
34,500,000
34,300,000
34,400,000
34,400,000
34,700,000
142,331,000
137,728,000
135,461,000
Other loss, net
6,200,000
14,000,000
9,100,000
9,600,000
5,100,000
100,000
100,000
2,600,000
38,898,000
7,965,000
7,379,000
Income tax benefit
(2,300,000)
(600,000)
0
0
(600,000)
0
0
0
(2,989,000)
(562,000)
(1,424,000)
Net income (loss)
$ (184,000,000)
$ (35,600,000)
$ (42,800,000)
$ (90,600,000)
$ (20,000,000)
$ (9,800,000)
$ (43,000,000)
$ (38,400,000)
$ (352,955,000)
$ (111,206,000)
$ (173,829,000)
Earnings (loss) per share:
Basic (usd per share)
$ (3.45)
$ (0.67)
$ (0.80)
$ (1.70)
$ (0.38)
$ (0.18)
$ (0.81)
$ (0.72)
$ (6.62)
$ (2.09)
$ (3.29)
Diluted (usd per share)
$ (3.45)
$ (0.67)
$ (0.80)
$ (1.70)
$ (0.38)
$ (0.18)
$ (0.81)
$ (0.72)
$ (6.62)
$ (2.09)
$ (3.29)
Weighted average shares of common stock outstanding:
Basic (in shares)
53,331
53,328
53,323
53,188
53,172
53,172
53,172
52,976
53,293
53,124
52,850
Diluted (in shares)
53,331
53,328
53,323
53,188
53,172
53,172
53,172
52,976
53,293
53,124
52,850
Closing price per share:
High
$ 3.43
$ 3.48
$ 3.07
$ 4.38
$ 0.85
$ 1.13
$ 1.29
$ 1.65
Low
$ 2.34
$ 2.20
$ 1.69
$ 0.65
$ 0.54
$ 0.62
$ 1.03
$ 0.98
Period-end
$ 3.43
$ 3.20
$ 2.10
$ 2.89
$ 0.63
$ 0.76
$ 1.15
$ 1.32