Monday, November 16, 2009

Black Liquor Scorecard: $4.7 Billion Through September

Publicly traded pulp and paper companies have earned more than $4.7 billion in controversial black-liquor credits from the U.S. government during the first three quarters of the year, according to their financial reports.

The 21 companies generated enough of the pulp byproduct in the 3rd Quarter to receive more than $1.8 billion of the subsidies, according to an exclusive Dead Tree Edition analysis of Securities and Exchange Commission reports..About one-fourth of the country's kraft-pulp capacity is in the hands of privately held companies, which do not have to file financial reports with the SEC.

Here are the amounts earned by the companies. "Net of expenses" means the company subtracted out certain costs in its reporting of the "alternative fuel mixture credits" rather than stating the full amount of payments from the IRS

  1. International Paper: $1.547 billion
  2. Smurfit-Stone Container: $473 million
  3. Domtar; $336 million
  4. MeadWestvaco: $281 million, "net of associated expenses"
  5. Weyerhaeuser: $229 million
  6. NewPage: $214 million
  7. AbitibiBowater: $201 million
  8. Verso Paper: $191 million
  9. Temple-Inland: $149 million
  10. Rayonier $142 million, "net of associated expenses"
  11. Boise: $135 million, "net of fees and expenses"
  12. Packaging Corporation of America: $129 million
  13. Clearwater Paper: $124 million
  14. Kapstone Paper & Packaging: $122 million
  15. Graphic Packaging; $104 million, "net of expenses"
  16. Buckeye Technologies: $93 million
  17. SAPPI: $87 million
  18. P.H. Glatfelter: $76 million
  19. Rock-Tenn: $54 million, "net of expenses"
  20. Appleton Papers: $13 million
  21. Wausau $10 million

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