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Segment Information | 6 Months Ended
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Jun. 30, 2017
Segment Reporting [Abstract] |
Segment Information |
16. | Segment Information
We report our business in three reportable segments: Packaging, Paper, and Corporate and Other. These segments represent distinct businesses that are managed separately because of differing products and services. Each of these businesses requires distinct operating and marketing strategies. Each segment’s profits and losses are measured on operating profits before interest expense, net, and income taxes. For many of these allocated expenses, the related assets and liabilities remain in the Corporate and Other segment. Selected financial information by reportable segment was as follows (dollars in millions):
|  | Sales, net |  |  |  |  |  |
Three Months Ended June 30, 2017 |  | Trade |  |  | Inter-segment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 1,305.5 |  |  | $ | 6.0 |  |  | $ | 1,311.5 |  |  | $ | 224.5 |  | (a)
Paper |  |  | 253.7 |  |  |  | — |  |  |  | 253.7 |  |  |  | 29.1 |  |
Corporate and Other |  |  | 24.8 |  |  |  | 31.1 |  |  |  | 55.9 |  |  |  | (19.8 | ) |
Intersegment eliminations |  |  | — |  |  |  | (37.1 | ) |  |  | (37.1 | ) |  |  | — |  |
|  | $ | 1,584.0 |  |  |  | — |  |  | $ | 1,584.0 |  |  |  | 233.8 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (25.2 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 208.6 |  |
|  | Sales, net |  |  |  |  |  |
Three Months Ended June 30, 2016 |  | Trade |  |  | Inter-segment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 1,123.6 |  |  | $ | 1.7 |  |  | $ | 1,125.3 |  |  | $ | 192.4 |  | (c)
Paper |  |  | 266.8 |  |  |  | — |  |  |  | 266.8 |  |  |  | 24.4 |  |
Corporate and Other |  |  | 27.0 |  |  |  | 33.0 |  |  |  | 60.0 |  |  |  | (16.6 | ) | (c)
Intersegment eliminations |  |  | — |  |  |  | (34.7 | ) |  |  | (34.7 | ) |  |  | — |  |
|  | $ | 1,417.4 |  |  | $ | — |  |  | $ | 1,417.4 |  |  |  | 200.2 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (22.5 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 177.7 |  |
|  | Sales, net |  |  |  |  |  |
Six Months Ended June 30, 2017 |  | Trade |  |  | Inter-segment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 2,556.8 |  |  | $ | 11.6 |  |  | $ | 2,568.4 |  |  | $ | 415.3 |  | (b)
Paper |  |  | 512.9 |  |  |  | — |  |  |  | 512.9 |  |  |  | 58.9 |  |
Corporate and Other |  |  | 50.8 |  |  |  | 59.3 |  |  |  | 110.1 |  |  |  | (37.3 | ) | (b)
Intersegment eliminations |  |  | — |  |  |  | (70.9 | ) |  |  | (70.9 | ) |  |  | — |  |
|  | $ | 3,120.5 |  |  |  | — |  |  | $ | 3,120.5 |  |  |  | 436.9 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (49.2 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 387.7 |  |
|  | Sales, net |  |  |  |  |  |
Six Months Ended June 30, 2016 |  | Trade |  |  | Inter-segment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 2,217.4 |  |  | $ | 3.4 |  |  | $ | 2,220.8 |  |  | $ | 353.9 |  | (c)
Paper |  |  | 547.3 |  |  |  | — |  |  |  | 547.3 |  |  |  | 60.5 |  |
Corporate and Other |  |  | 53.7 |  |  |  | 69.0 |  |  |  | 122.7 |  |  |  | (33.4 | ) | (c)
Intersegment eliminations |  |  | — |  |  |  | (72.4 | ) |  |  | (72.4 | ) |  |  | — |  |
|  | $ | 2,818.4 |  |  | $ | — |  |  | $ | 2,818.4 |  |  |  | 381.0 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (44.1 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 336.9 |  |
(a) | The three months ended June 30, 2017 include $0.5 million of charges consisting of closure costs related to corrugated products facilities and integration costs related to the recent acquisitions.
(b) | The six months ended June 30, 2017 include:
|  | 1. $5.0 million of costs for the property damage and business interruption insurance deductible corresponding to the February 2017 explosion at our DeRidder, LA mill.
|  | 2. $1.2 million of charges consisting of closure costs related to corrugated products facilities, integration costs related to the recent acquisitions, and costs related to a lump sum settlement payment of a multiemployer pension plan withdrawal liability for one of our corrugated products facilities.
|  | 3. $2.3 million of income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.
(c) | The three and six months ended June 30, 2016 include $2.9 million and $5.7 million of charges consisting of closure costs related to corrugated products facilities and a paper products facility, acquisition-related costs for the TimBar acquisition, and costs related to our withdrawal from a multiemployer pension plan for one of our corrugated products facilities.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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