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Concentrations of Risk | 12 Months Ended
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Dec. 31, 2022
Risks and Uncertainties [Abstract] |
Concentration of Risk | 17. Concentrations of Risk ODP Corporation ("ODP"), formerly Office Depot Inc., along with its subsidiaries and affiliates, is our largest customer in the Paper segment. Our Paper segment has had a long-standing commercial and contractual relationship with ODP. This relationship exposes us to a significant concentration of business and financial risk. Our sales to ODP represented approximately 4% of our total Company sales for both 2022 and 2021 and about 48% and 51% of our Paper segment sales revenue for those periods, respectively. At December 31, 2022 and 2021, we had $52.4 million and $49.8 million of accounts receivable due from ODP, respectively, which represents approximately 5% and 4% of our total Company receivables, respectively. In 2022, sales to ODP represented about 48% of our Paper segment sales. If these sales are reduced, we would need to find new customers. We may not be able to fully replace any lost sales, and any new sales may be at lower prices or higher costs. Any significant deterioration in the financial condition of ODP affecting its ability to pay or any other change that affects its willingness to purchase our products will harm our business and results of operations. Labor At December 31, 2022, we had approximately 15,100 employees and approximately 43% of these employees worked pursuant to collective bargaining agreements. Approximately 61% of our hourly employees worked pursuant to collective bargaining agreements. The majority of our unionized employees are represented by the United Steel Workers (USW), the International Brotherhood of Teamsters (IBT), the International Association of Machinists (IAM), and the Association of Western Pulp and Paper Workers (AWPPW). Of the employees who work pursuant to collective bargaining agreements, a pproximately 29% work pursuant to collective bargaining agreements that will expire within the next twelve months.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
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