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Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Selected Financial Information by Reportable 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

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-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 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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- References

No definition available.

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