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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Sales to External Customers by Product Line | Segment sales to external customers by product line were as follows (dollars in millions):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Packaging |  | $ | 7,780.7 |  |  | $ | 7,052.6 |  |  | $ | 5,919.5 |
Paper |  |  | 622.1 |  |  |  | 599.7 |  |  |  | 674.8 |
Corporate and Other |  |  | 75.2 |  |  |  | 78.0 |  |  |  | 63.9 |
|  | $ | 8,478.0 |  |  | $ | 7,730.3 |  |  | $ | 6,658.2 |
Analysis of Operations by Reportable Segment | An analysis of operations by reportable segment is as follows (dollars in millions):
|  | Sales, net |  |  | Operating |  |  | Depreciation, |  |  |  |  |  |  |
Year Ended December 31, 2022 |  | Trade |  |  | Inter- segment |  |  | Total |  |  | Income (Loss) |  |  | Amortization, and Depletion |  |  | Capital Expenditures (j) |  |  | Assets |
Packaging |  | $ | 7,760.7 |  |  | $ | 20.0 |  |  | $ | 7,780.7 |  |  | $ | 1,423.7 |  | (a) | $ | 420.2 |  |  | $ | 753.5 |  |  | $ | 6,986.5 |
Paper |  |  | 622.1 |  |  |  | — |  |  |  | 622.1 |  |  |  | 103.0 |  | (b) |  | 26.1 |  |  |  | 14.1 |  |  |  | 403.1 |
Corporate and Other |  |  | 95.2 |  |  |  | 148.2 |  |  |  | 243.4 |  |  |  | (106.0 | ) |  |  | 10.5 |  |  |  | 56.6 |  |  |  | 614.2 |
Intersegment eliminations |  |  | — |  |  |  | (168.2 | ) |  |  | (168.2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 8,478.0 |  |  | $ | — |  |  | $ | 8,478.0 |  |  |  | 1,420.7 |  |  | $ | 456.8 |  |  | $ | 824.2 |  |  | $ | 8,003.8 |
Non-operating pension income |  |  |  |  |  |  |  |  |  |  |  | 14.5 |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (70.4 | ) |  |  |  |  |  |  |  |  |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 1,364.8 |  |  |  |  |  |  |  |  |  |
|  | Sales, net |  |  | Operating |  |  | Depreciation, |  |  |  |  |  |  |
Year Ended December 31, 2021 |  | Trade |  |  | Inter- segment |  |  | Total |  |  | Income (Loss) |  |  | Amortization, and Depletion |  |  | Capital Expenditures (j) |  |  | Assets |
Packaging |  | $ | 7,036.2 |  |  | $ | 16.4 |  |  | $ | 7,052.6 |  |  | $ | 1,306.0 |  | (c) | $ | 381.0 |  |  | $ | 562.5 |  |  | $ | 6,603.3 |
Paper |  |  | 599.6 |  |  |  | 0.1 |  |  |  | 599.7 |  |  |  | 39.1 |  | (d) |  | 27.4 |  |  |  | 30.1 |  |  |  | 398.9 |
Corporate and Other |  |  | 94.5 |  |  |  | 135.9 |  |  |  | 230.4 |  |  |  | (103.7 | ) | (e) |  | 9.1 |  |  |  | 12.5 |  |  |  | 834.6 |
Intersegment eliminations |  |  | — |  |  |  | (152.4 | ) |  |  | (152.4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 7,730.3 |  |  | $ | — |  |  | $ | 7,730.3 |  |  |  | 1,241.4 |  |  | $ | 417.5 |  |  | $ | 605.1 |  |  | $ | 7,836.8 |
Non-operating pension income |  |  |  |  |  |  |  |  |  |  |  | 19.7 |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (152.4 | ) | (f) |  |  |  |  |  |  |  |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 1,108.7 |  |  |  |  |  |  |  |  |  |
|  | Sales, net |  |  | Operating |  |  | Depreciation, |  |  |  |  |  |  |
Year Ended December 31, 2020 |  | Trade |  |  | Inter- segment |  |  | Total |  |  | Income (Loss) |  |  | Amortization, and Depletion |  |  | Capital Expenditures (j) |  |  | Assets |
Packaging |  | $ | 5,901.7 |  |  | $ | 17.8 |  |  | $ | 5,919.5 |  |  | $ | 829.5 |  | (g) | $ | 365.2 |  |  | $ | 394.8 |  |  | $ | 5,744.0 |
Paper |  |  | 674.7 |  |  |  | 0.1 |  |  |  | 674.8 |  |  |  | (20.0 | ) | (h)(i) |  | 36.5 |  |  |  | 20.1 |  |  |  | 497.2 |
Corporate and Other |  |  | 81.8 |  |  |  | 131.3 |  |  |  | 213.1 |  |  |  | (85.6 | ) |  |  | 8.3 |  |  |  | 6.3 |  |  |  | 1,192.0 |
Intersegment eliminations |  |  | — |  |  |  | (149.2 | ) |  |  | (149.2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 6,658.2 |  |  | $ | — |  |  | $ | 6,658.2 |  |  |  | 723.9 |  |  | $ | 410.0 |  |  | $ | 421.2 |  |  | $ | 7,433.2 |
Non-operating pension income |  |  |  |  |  |  |  |  |  |  |  | 2.3 |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (93.5 | ) |  |  |  |  |  |  |  |  |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 632.7 |  |  |  |  |  |  |  |  |  |
(a) | Includes the following:
| • | $5.3 million of charges related to the announced discontinuation of production of UFS paper grades on the No. 3 machine at the Jackson, Alabama mill associated with the permanent conversion of the machine to produce linerboard and other paper-to-containerboard conversion related activities.
| • | $0.7 million of charges consisting of closure costs partially offset by insurance proceeds received for a natural disaster at one of the corrugated products facilities, a gain on sale of assets related to a corrugated products facility, and a favorable lease buyout for a closed corrugated products facility.
| • | $1.0 million of income from a favorable inventory adjustment related to the December 2021 Advance Packaging Corporation acquisition, partially offset by acquisition and integration related costs.
(b) | Includes $8.8 million of charges related to the announced discontinuation of production of UFS paper grades on the No. 3 machine at the Jackson, Alabama mill associated with the permanent conversion of the machine to produce linerboard and other paper-to-containerboard conversion related activities.
(c) | Includes the following:
| • | $4.3 million of charges related to the announced discontinuation of UFS 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 and other paper-to-containerboard conversion related activities.
| • | $2.8 million of income primarily consisting of an adjustment of the required asset retirement obligation related to the 2020 closure of the San Lorenzo, California facility, a gain on sale of corrugated products facilities, and insurance proceeds received for a natural disaster at one of the corrugated products facilities, partially offset by closure costs related to corrugated products facilities.
| • | $0.4 million of charges for acquisition and integration costs related to the December 2021 Advance Packaging Corporation acquisition.
(d) | Includes $9.3 million of charges related to the announced discontinuation of UFS 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 and other paper-to-containerboard conversion related activities.
(e) | Includes the following:
| • | $0.8 million of income related to a gain on sale of transportation assets.
| • | $0.5 million of charges for acquisition and integration costs related to the December 2021 Advance Packaging Corporation acquisition.
| • | $0.4 million of charges related to the announced discontinuation of UFS 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 and other paper-to-containerboard conversion related activities.
(f) | Includes $58.9 million of costs related to the Company's debt refinancing completed in October 2021, which included a redemption premium and the write-off of the remaining balance of unamortized debt issuance costs.
(g) | Includes the following:
| • | $27.3 million of closure costs related to corrugated products facilities, substantially all of which relates to the previously announced closure of the San Lorenzo, California facility during the second quarter of 2020, partially offset by income related to the sale of a corrugated products facility during the second quarter of 2020.
| • | $10.0 million of charges related to the impact of Hurricane Laura at our DeRidder, Louisiana mill, including unabsorbed costs related to lost production, excess purchased containerboard and freight costs, repair expenses, rental and supplies costs, and other recovery expenses.
| • | $6.3 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.
(h) | Includes the following:
| • | $0.8 million of restructuring costs for paper administrative functions.
| • | $0.6 million 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.
(i) | During the second quarter of 2020, with the exacerbated deterioration in uncoated freesheet market conditions and the estimated impact on our Paper reporting unit arising from the COVID-19 pandemic, as well as projected future results of operations, we identified a triggering event indicating possible impairment of goodwill within our Paper reporting unit. The Company performed an interim quantitative impairment analysis as of May 31, 2020, and, based on the evaluation performed, we determined that goodwill was fully impaired for the Paper reporting unit and recognized a non-cash impairment charge of $55.2 million.
(j) | Includes “Additions to property, plant, and equipment” and excludes cash used for “Acquisition of business, net of cash acquired” as reported on our Consolidated Statements of Cash Flows.

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 + Details
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