| INFORMATION BY INDUSTRY SEGMENT |
INFORMATION BY INDUSTRY SEGMENT Our reporting segments correspond to the following three market segments in which we operate: coated papers, including coated groundwood and coated freesheet; hardwood market pulp; and other, consisting of specialty papers. We operate primarily in one geographic segment, North America. Our products are used primarily in media and marketing applications, including catalogs, magazines, and commercial printing applications such as high-end advertising brochures, annual reports, and direct-mail advertising. Our assets are utilized across segments in our integrated mill system and are not identified by segment or reviewed by management on a segment basis.
The following table summarizes the industry segments for the years ended December 31, 2014, 2013, and 2012: | | | | | | | | | | | | | | | | | | | | | | | | | | VERSO | | VERSO HOLDINGS | | Year Ended December 31, | | Year Ended December 31, | (Dollars in thousands) | 2014 | | 2013 | | 2012 | | 2014 | | 2013 | | 2012 | Net Sales: | | | | | | | | | | | | Coated papers | $ | 939,105 |
| | $ | 1,062,555 |
| | $ | 1,177,050 |
| | $ | 939,105 |
| | $ | 1,062,555 |
| | $ | 1,177,050 |
| Hardwood market pulp | 160,651 |
| | 156,099 |
| | 140,816 |
| | 160,651 |
| | 156,099 |
| | 140,816 |
| Other | 196,857 |
| | 170,245 |
| | 156,746 |
| | 196,857 |
| | 170,245 |
| | 156,746 |
| Total | $ | 1,296,613 |
| | $ | 1,388,899 |
| | $ | 1,474,612 |
| | $ | 1,296,613 |
| | $ | 1,388,899 |
| | $ | 1,474,612 |
| Operating (Loss) Income: | |
| | |
| | |
| | |
| | |
| | |
| Coated papers (1) | $ | (165,124 | ) | | $ | 14,546 |
| | $ | (26,166 | ) | | $ | (165,124 | ) | | $ | 14,546 |
| | $ | (26,115 | ) | Hardwood market pulp | 18,950 |
| | 21,540 |
| | 9,215 |
| | 18,950 |
| | 21,540 |
| | 9,215 |
| Other(1) | (28,543 | ) | | (2,186 | ) | | (15,470 | ) | | (28,543 | ) | | (2,186 | ) | | (15,470 | ) | Total | $ | (174,717 | ) | | $ | 33,900 |
| | $ | (32,421 | ) | | $ | (174,717 | ) | | $ | 33,900 |
| | $ | (32,370 | ) | Depreciation, Amortization, and Depletion: | |
| | |
| | |
| | | | |
| | |
| Coated papers | $ | 65,930 |
| | $ | 77,976 |
| | $ | 90,740 |
| | $ | 65,930 |
| | $ | 77,976 |
| | $ | 90,740 |
| Hardwood market pulp | 15,325 |
| | 18,125 |
| | 18,000 |
| | 15,325 |
| | 18,125 |
| | 18,000 |
| Other | 9,642 |
| | 8,629 |
| | 9,438 |
| | 9,642 |
| | 8,629 |
| | 9,438 |
| Total | $ | 90,897 |
| | $ | 104,730 |
| | $ | 118,178 |
| | $ | 90,897 |
| | $ | 104,730 |
| | $ | 118,178 |
| Capital Spending: | |
| | |
| | |
| | | | |
| | |
| Coated papers | $ | 31,657 |
| | $ | 33,595 |
| | $ | 57,807 |
| | $ | 31,657 |
| | $ | 33,595 |
| | $ | 57,807 |
| Hardwood market pulp (2) | 9,625 |
| | 5,752 |
| | (325 | ) | | 9,625 |
| | 5,752 |
| | (325 | ) | Other | 681 |
| | 1,313 |
| | 2,427 |
| | 681 |
| | 1,313 |
| | 2,427 |
| Total | $ | 41,963 |
| | $ | 40,660 |
| | $ | 59,909 |
| | $ | 41,963 |
| | $ | 40,660 |
| | $ | 59,909 |
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| | (1) | Operating loss of the coated papers and other segment includes $134.5 million in Restructuring charges recognized in 2014. Operating loss of $102.4 million in Restructuring charges, offset by $60.6 million in Other operating income, was recognized in 2012 and attributed to the coated papers segment. |
| | (2) | Capital spending of the pulp segment includes the impact of a $14.7 million cash inflow received in 2012 from governmental grants associated with a renewable energy project at our mill in Quinnesec, Michigan, due to spending in 2011. |
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