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Subsequent Events | 6 Months Ended
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Jun. 30, 2016
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events The Company has disclosed the following subsequent event in accordance with Accounting Standards Codification (ASC) 855, “Subsequent Events.” Subsequent events have been evaluated through the filing date of this Form 10-Q. On July 1, 2016, we entered into a definitive agreement to acquire substantially all the assets of TimBar Corporation in a cash-free, debt-free transaction, for a cash purchase price of $386 million. TimBar is a large independent corrugated products producer with $324 million net sales for the year ended December 31, 2015. TimBar’s operations include five corrugated products plants, two fulfillment centers and four design centers located primarily in the eastern and southeastern United States. Closing is subject to certain customary conditions and is expected in the third quarter of 2016. PCA expects to finance the transaction with a new term loan. The operating results of TimBar will be included in PCA’s results upon closing of the transaction. Additionally, on July 29, 2016, we repaid in full the $25 million that was outstanding under the five-year term loan due October 2018.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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