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| At December 31, 2000, the Company has a federal tax loss of approximately $4,112,000 of which will be carried back to the 1998 tax year. The Company also has state net operating losses of $6,282,000 which will expire in varying amounts between 2004 and 2020. The Company has a valuation allowance of $2,057,000 at December 31, 2000 for estimated future impairment related to the state net operating losses. | The Company also has a federal alternative minimum tax credit carryforward of $2,650,000 which has an unlimited carryforward life. The Company also has state tax credit carryforwards of approximately $2,440,000 which will expire in varying amounts between 2004 and 2015. The Company recorded a valuation allowance of $2,251,000 at December 31, 2000 for estimated future impairment related to the state tax credits. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 10. Quarterly Financial
Data (Unaudited) The following table sets forth certain quarterly financial data for the periods indicated (in thousands, except per share data): |
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| 11. Segment Information The Company operates principally in three business segments organized by products. The paperboard segment consists of facilities that manufacture 100 percent recycled uncoated and clay-coated paperboard and facilities that collect recycled paper and broker recycled paper and other paper rolls. The tube, core, and composite container segment is principally made up of facilities that produce spiral and convolute-wound tubes, cores, and cans. The carton and custom packaging segment consists of facilities that produce printed and unprinted folding and set-up cartons and facilities that provide contract manufacturing and contract packaging services. Intersegment sales are recorded at prices which approximate market prices. Sales to external customers located in foreign countries accounted for approximately 6.7 percent, 6.7 percent, and 7.8 percent of the Company’s sales for 2000, 1999 and 1998, respectively. |
Operating income includes all costs and expenses directly related to the segment involved. Corporate expenses include corporate, general, administrative, and unallocated information systems expenses. Identifiable assets are accumulated by facility within each business segment. Corporate assets consist primarily of cash and cash equivalents; refundable income taxes; property, plant, and equipment; and investments in unconsolidated affiliates. |
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