XML 42 R25.htm IDEA: XBRL DOCUMENT
v3.19.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2019
Segment Reporting [Abstract] |
Segment Information |
1 9. | 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, non-operating pension expense, and income taxes. For certain 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, 2019 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 1,497.8 |  |  | $ | 6.8 |  |  | $ | 1,504.6 |  |  | $ | 263.9 |  |
Paper |  |  | 237.8 |  |  |  | — |  |  |  | 237.8 |  |  |  | 38.8 |  |
Corporate and other |  |  | 24.3 |  |  |  | 31.5 |  |  |  | 55.8 |  |  |  | (22.3 | ) |
Intersegment eliminations |  |  | — |  |  |  | (38.3 | ) |  |  | (38.3 | ) |  |  | — |  |
|  | $ | 1,759.9 |  |  | $ | — |  |  | $ | 1,759.9 |  |  |  | 280.4 |  |
Non-operating pension expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2.0 | ) |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (22.4 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 256.0 |  |
|  | Sales, net |  |  |  |  |  |
Three Months Ended June 30, 2018 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 1,489.6 |  |  | $ | 6.6 |  |  | $ | 1,496.2 |  |  | $ | 273.2 |  | (b)
Paper |  |  | 250.8 |  |  |  | — |  |  |  | 250.8 |  |  |  | 16.2 |  | (b)
Corporate and Other |  |  | 27.1 |  |  |  | 33.5 |  |  |  | 60.6 |  |  |  | (19.8 | ) | (b)
Intersegment eliminations |  |  | — |  |  |  | (40.1 | ) |  |  | (40.1 | ) |  |  | — |  |
|  | $ | 1,767.5 |  |  | $ | — |  |  | $ | 1,767.5 |  |  |  | 269.6 |  |
Non-operating pension expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (0.5 | ) |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (23.8 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 245.3 |  |
|  | Sales, net |  |  |  |  |  |
Six Months Ended June 30, 2019 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 2,968.6 |  |  | $ | 13.6 |  |  | $ | 2,982.2 |  |  | $ | 513.4 |  | (a)
Paper |  |  | 477.5 |  |  |  | — |  |  |  | 477.5 |  |  |  | 84.4 |  | (a)
Corporate and Other |  |  | 47.5 |  |  |  | 65.0 |  |  |  | 112.5 |  |  |  | (42.0 | ) |
Intersegment eliminations |  |  | — |  |  |  | (78.6 | ) |  |  | (78.6 | ) |  |  | — |  |
|  | $ | 3,493.6 |  |  | $ | — |  |  | $ | 3,493.6 |  |  |  | 555.8 |  |
Non-operating pension expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4.1 | ) |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (46.4 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 505.3 |  |
|  | Sales, net |  |  |  |  |  |
Six Months Ended June 30, 2018 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 2,886.3 |  |  | $ | 12.8 |  |  | $ | 2,899.1 |  |  | $ | 497.9 |  | (b)
Paper |  |  | 520.2 |  |  |  | — |  |  |  | 520.2 |  |  |  | 23.5 |  | (b)
Corporate and Other |  |  | 51.6 |  |  |  | 62.6 |  |  |  | 114.2 |  |  |  | (38.9 | ) | (b)
Intersegment eliminations |  |  | — |  |  |  | (75.4 | ) |  |  | (75.4 | ) |  |  | — |  |
|  | $ | 3,458.1 |  |  | $ | — |  |  | $ | 3,458.1 |  |  |  | 482.5 |  |
Non-operating pension expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1.1 | ) |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (49.6 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 431.8 |  |
(a) | The six months ended June 30, 2019 include $0.6 million of charges related to the announced second quarter 2018 discontinuation of uncoated free sheet and coated one-side grades at the Wallula, Washington mill associated with the conversion of the No. 3 paper machine to a high-performance 100% virgin kraft linerboard machine.
(b) | Includes the following:
| 1. | For the three and six months ended June 30, 2018, $13.6 million and $22.4 million, respectively, of charges related to the second quarter 2018 discontinuation of uncoated free sheet and coated one-side grades at the Wallula, Washington mill associated with the conversion of the No. 3 paper machine to a high-performance 100% virgin kraft linerboard machine.
| 2. | For the three and six months ended June 30, 2018, $0.2 million and $0.5 million, respectively, of charges consisting of closure costs related to corrugated products facilities and a corporate administration facility.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration