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Segment Information | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Segment Information | 18. 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. Each segment’s profits and losses are measured on operating profits before interest expense, net, non-operating pension (expense) 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 September 30, 2023 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 1,755.2 |  |  | $ | 4.6 |  |  | $ | 1,759.8 |  |  | $ | 256.8 |  | (a)
Paper |  |  | 157.9 |  |  |  | — |  |  |  | 157.9 |  |  |  | 27.6 |  | (a)
Corporate and Other |  |  | 22.9 |  |  |  | 40.6 |  |  |  | 63.5 |  |  |  | (25.8 | ) |
Intersegment eliminations |  |  | — |  |  |  | (45.2 | ) |  |  | (45.2 | ) |  |  | — |  |
|  | $ | 1,936.0 |  |  | $ | — |  |  | $ | 1,936.0 |  |  |  | 258.6 |  |
Non-operating pension expense |  |  |  |  |  |  |  |  |  |  |  | (1.8 | ) |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (12.3 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 244.5 |  |
|  | Sales, net |  |  |  |  |
Three Months Ended September 30, 2022 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 1,935.1 |  |  | $ | 5.1 |  |  | $ | 1,940.2 |  |  | $ | 359.2 |  | (b)
Paper |  |  | 165.3 |  |  |  | — |  |  |  | 165.3 |  |  |  | 26.1 |  | (b)
Corporate and Other |  |  | 25.5 |  |  |  | 37.8 |  |  |  | 63.3 |  |  |  | (25.0 | ) |
Intersegment eliminations |  |  | — |  |  |  | (42.9 | ) |  |  | (42.9 | ) |  |  | — |  |
|  | $ | 2,125.9 |  |  | $ | — |  |  | $ | 2,125.9 |  |  |  | 360.3 |  |
Non-operating pension income |  |  |  |  |  |  |  |  |  |  |  | 3.6 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (16.5 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 347.4 |  |
|  | Sales, net |  |  |  |  |
Nine Months Ended September 30, 2023 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 5,344.3 |  |  | $ | 14.4 |  |  | $ | 5,358.7 |  |  | $ | 810.5 |  | (a)
Paper |  |  | 451.6 |  |  |  | — |  |  |  | 451.6 |  |  |  | 90.8 |  | (a)
Corporate and Other |  |  | 68.6 |  |  |  | 116.5 |  |  |  | 185.1 |  |  |  | (87.7 | ) |
Intersegment eliminations |  |  | — |  |  |  | (130.9 | ) |  |  | (130.9 | ) |  |  | — |  |
|  | $ | 5,864.5 |  |  | $ | — |  |  | $ | 5,864.5 |  |  |  | 813.6 |  |
Non-operating pension expense |  |  |  |  |  |  |  |  |  |  |  | (5.8 | ) |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (42.2 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 765.6 |  |
|  | Sales, net |  |  |  |  |
Nine Months Ended September 30, 2022 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Operating Income (Loss) |  |
Packaging |  | $ | 5,956.8 |  |  | $ | 14.8 |  |  | $ | 5,971.6 |  |  | $ | 1,141.3 |  | (b)
Paper |  |  | 468.6 |  |  |  | — |  |  |  | 468.6 |  |  |  | 71.2 |  | (b)
Corporate and Other |  |  | 74.2 |  |  |  | 110.6 |  |  |  | 184.8 |  |  |  | (79.8 | ) |
Intersegment eliminations |  |  | — |  |  |  | (125.4 | ) |  |  | (125.4 | ) |  |  | — |  |
|  | $ | 6,499.6 |  |  | $ | — |  |  | $ | 6,499.6 |  |  |  | 1,132.7 |  |
Non-operating pension income |  |  |  |  |  |  |  |  |  |  |  | 10.9 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (55.3 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 1,088.3 |  |
(a) | The three and nine months ended September 30, 2023 include the following:
| 1. | $2.6 million and $8.2 million, respectively, 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.
| 2. | $0.1 million of income and $13.5 million of charges, respectively, related to the closure of corrugated products facilities and design centers. Included therein are closure costs as well as the gain on sale of a corrugated products facility.
(b) | The three and nine months ended September 30, 2022 include the following:
| 1. | $3.9 million and $9.4 million, respectively, 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.
| 2. | $0.2 million of charges and $0.2 million of income, respectively, consisting of closure costs related to corrugated products facilities and acquisition and integration costs related to the December 2021 Advance Packaging Corporation acquisition, partially offset by a gain on sale of assets related to a corrugated products facility. For the nine months ended September 30, 2022, these costs were offset by insurance proceeds received for a natural disaster at one of the corrugated products facilities and a favorable lease buyout for a closed corrugated products facility.

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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