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Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying amount of our goodwill were as follows (dollars in millions):

										Total
		Packaging				Paper				Goodwill
Balance at January 1, 2019		$	862.1			$	55.2			$	917.3
Acquisitions (a)			1.4				—				1.4
Balance at December 31, 2019			863.5				55.2				918.7
Impairment of Paper segment			—				(55.2	)			(55.2	)
Balance at December 31, 2020		$	863.5			$	—			$	863.5

(a) During 2019, the Company recorded a $1.4 million adjustment to increase the goodwill balance for the Company’s October 2018 acquisition of Englander.

Components of Intangible Assets

The weighted average useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions):

		As of December 31, 2020												As of December 31, 2019
		Weighted Average Remaining Useful Life (in Years)				Gross Carrying Amount				Accumulated Amortization				Weighted Average Remaining Useful Life (in Years)				Gross Carrying Amount				Accumulated Amortization
Customer relationships (b)(c)			9.1			$	503.8			$	220.2				10.0			$	503.8			$	180.2
Trademarks and trade names			9.3				34.8				23.0				9.5				34.8				20.6
Other			1.2				4.3				3.8				2.1				4.3				3.3
Total intangible assets (excluding goodwill)			9.1			$	542.9			$	247.0				9.9			$	542.9			$	204.1

(b) During the second quarter of 2020, the Company recorded a $4.5 million adjustment to decrease the remaining book value of the customer relationships intangible asset as a result of the closure of the San Lorenzo, California corrugated products facility.

(c) During 2019, a corrugated products facility sold part of its operations which included existing inventory, certain production equipment, and customer relationships corresponding to the operations sold. As a result, the gross carrying amount for the customer relationships intangible asset was decreased by $0.7 million.

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Name Accounting Standards Codification
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