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Segment Information | 3 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Segment Information |
1 8. | 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. During the fourth quarter of 2020, in order to meet strong packaging demand and maintain appropriate inventory levels, we temporarily began producing linerboard on the No. 3 machine at our Jackson, Alabama mill. In the first quarter of 2021, we announced the discontinuation of production of uncoated freesheet paper grades on the machine and the permanent conversion of the machine to produce linerboard. Before October 2020, operating results for the Jackson mill were included in the Paper segment. Beginning in October 2020, operating results for the Jackson mill are included in both the Packaging and Paper segments. Each segment’s profits and losses are measured on operating profits before interest expense, net, non-operating pension income, 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 March 31, 2021 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 1,619.8 |  |  | $ | 3.8 |  |  | $ | 1,623.6 |  |  | $ | 257.9 |  | (a)
Paper |  |  | 164.4 |  |  |  | 0.2 |  |  |  | 164.6 |  |  |  | 8.7 |  | (a)
Corporate and Other |  |  | 23.0 |  |  |  | 32.4 |  |  |  | 55.4 |  |  |  | (28.3 | ) |
Intersegment eliminations |  |  | — |  |  |  | (36.4 | ) |  |  | (36.4 | ) |  |  | — |  |
|  | $ | 1,807.2 |  |  | $ | — |  |  | $ | 1,807.2 |  |  |  | 238.3 |  |
Non-operating pension income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4.8 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (23.5 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 219.6 |  |
|  | Sales, net |  |  |  |  |  |
Three Months Ended March 31, 2020 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 1,465.4 |  |  | $ | 2.1 |  |  | $ | 1,467.5 |  |  | $ | 199.8 |  | (b)
Paper |  |  | 217.4 |  |  |  | — |  |  |  | 217.4 |  |  |  | 32.5 |  | (b)
Corporate and Other |  |  | 25.9 |  |  |  | 34.3 |  |  |  | 60.2 |  |  |  | (23.2 | ) |
Intersegment eliminations |  |  | — |  |  |  | (36.4 | ) |  |  | (36.4 | ) |  |  | — |  |
|  | $ | 1,708.7 |  |  | $ | — |  |  | $ | 1,708.7 |  |  |  | 209.1 |  |
Non-operating pension expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.6 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (19.6 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 190.1 |  |
(a) | The three months ended March 31, 2021 include the following: 1. $2.1 million of charges consisting of closure costs related to corrugated products facilities. 2. $1.1 million of charges related to the announced discontinuation of production of uncoated freesheet paper grades on the No. 3 machine at the Jackson, Alabama mill in the first quarter of 2021 associated with the permanent conversion of the machine to produce linerboard.
(b) | The three months ended March 31, 2020 include the following: 1.$0.8 million of incremental, out-of-pocket costs related to COVID-19, including supplies, cleaning and sick pay. Beginning in July 2020, all corresponding COVID-19 related expenses were included in normalized costs. 2.$0.4 million of charges consisting of closure costs related to 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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