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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2020
Equity [Abstract] |
Stockholders' Equity |
16. | Stockholders' Equity
Dividends During the year ended December 31, 2020, we paid $299.6 million of dividends to shareholders. On December 10, 2020, PCA announced an increase of its quarterly cash dividend on its common stock from an annual rate of $3.16 per share to $4.00 per share. Also, on December 10, 2020, PCA's Board of Directors approved a regular quarterly cash dividend of $1.00 per share of common stock, which was paid on January 15, 2021 to shareholders of record as of December 21, 2020. The dividend payment was $94.8 million. Share Repurchase Program On February 25, 2016, PCA announced that its Board of Directors authorized the repurchase of $200.0 million of the Company's outstanding common stock. Repurchases may be made from time to time in open market or privately negotiated transactions in accordance with applicable securities regulations. The timing and amount of repurchases will be determined by the Company in its discretion based on factors such as PCA’s stock price and market and business conditions. The Company did not repurchase any shares of its common stock under this authority during the twelve months ended December 31, 2020 and 2019. All shares repurchased in prior years have been retired. At December 31, 2020, $193.0 million of the authorized amount remained available for repurchase of the Company's common stock. Accumulated Other Comprehensive Income (Loss) Changes in AOCI, net of taxes, by component follows (dollars in millions). Amounts in parentheses indicate losses.
|  | Foreign Currency Translation Adjustments |  |  | Unrealized Loss on Treasury Locks, Net |  |  | Unrealized Loss on Foreign Exchange Contracts |  |  | Unrealized Loss on Marketable Debt Securities |  |  | Unfunded Employee Benefit Obligations |  |  | Total |
Balance at January 1, 2019 |  | $ | (0.4 | ) |  | $ | (10.2 | ) |  | $ | (0.3 | ) |  | $ | — |  |  | $ | (127.9 | ) |  | $ | (138.8 | )
Other comprehensive income before reclassifications |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (40.5 | ) |  |  | (40.5 | )
Amounts reclassified from AOCI |  |  | — |  |  |  | 10.2 |  |  |  | 0.1 |  |  |  | — |  |  |  | 9.5 |  |  |  | 19.8 |
Net current-period other comprehensive income (loss) |  |  | — |  |  |  | 10.2 |  |  |  | 0.1 |  |  |  | — |  |  |  | (31.0 | ) |  |  | (20.7 | )
Balance at December 31, 2019 |  | $ | (0.4 | ) |  | $ | — |  |  | $ | (0.2 | ) |  | $ | — |  |  | $ | (158.9 | ) |  | $ | (159.5 | )
Other comprehensive income before reclassifications |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.3 |  |  |  | 4.0 |  |  |  | 4.3 |
Amounts reclassified from AOCI |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10.7 |  |  |  | 10.7 |
Net current-period other comprehensive income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.3 |  |  |  | 14.7 |  |  |  | 15.0 |
Balance at December 31, 2020 |  | $ | (0.4 | ) |  | $ | — |  |  | $ | (0.2 | ) |  | $ | 0.3 |  |  | $ | (144.2 | ) |  | $ | (144.5 | )
The following table presents information about reclassifications out of AOCI (dollars in millions). Amounts in parentheses indicate expenses in the Consolidated Statements of Income.
|  | Amounts Reclassified from AOCI Year Ended December 31, |  |  |
Details about AOCI Components |  | 2020 |  |  | 2019 |  |  |
Unrealized loss on treasury locks, net (a) |  | $ | — |  |  | $ | (18.1 | ) |  |
|  |  | — |  |  |  | 7.9 |  |  | Tax benefit
|  | $ | — |  |  | $ | (10.2 | ) |  | Net of tax
Unfunded employee benefit obligations (b) |  |  |  |  |  |  |  |  |  |
Amortization of prior service costs |  | $ | (3.9 | ) |  | $ | (6.0 | ) |  |
Amortization of actuarial gains / (losses) |  |  | (10.4 | ) |  |  | (6.7 | ) |  |
|  |  | (14.3 | ) |  |  | (12.7 | ) |  | Total before tax
|  |  | 3.6 |  |  |  | 3.2 |  |  | Tax benefit
|  | $ | (10.7 | ) |  | $ | (9.5 | ) |  | Net of tax
(a) | For 2019, this AOCI component is included in interest expense, net. The amount relates to the amortization of the effective portion of treasury lock derivative instruments recorded in AOCI. The remaining balances of the treasury locks were written off as a result of the Company’s November 2019 debt refinancing. For a discussion of treasury lock derivative instrument activity, see Note 15, Derivative Instruments and Hedging Activities, for additional information.
(b) | These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 12, Employee Benefit Plans and Other Postretirement Benefits, for additional information.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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