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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
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, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Packaging |  | $ | 7,135.6 |  |  | $ | 7,780.7 |  |  | $ | 7,052.6 |
Paper |  |  | 595.4 |  |  |  | 622.1 |  |  |  | 599.7 |
Corporate and Other |  |  | 71.4 |  |  |  | 75.2 |  |  |  | 78.0 |
|  | $ | 7,802.4 |  |  | $ | 8,478.0 |  |  | $ | 7,730.3 |
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, 2023 |  | Trade |  |  | Inter- segment |  |  | Total |  |  | Income (Loss) |  |  | Amortization, and Depletion |  |  | Capital Expenditures (i) |  |  | Assets |
Packaging |  | $ | 7,116.7 |  |  | $ | 18.9 |  |  | $ | 7,135.6 |  |  | $ | 1,074.3 |  | (a) | $ | 472.5 |  |  | $ | 426.8 |  |  | $ | 6,903.7 |
Paper |  |  | 595.4 |  |  |  | — |  |  |  | 595.4 |  |  |  | 118.9 |  | (b) |  | 29.6 |  |  |  | 9.7 |  |  |  | 384.4 |
Corporate and Other |  |  | 90.3 |  |  |  | 157.6 |  |  |  | 247.9 |  |  |  | (118.1 | ) |  |  | 15.6 |  |  |  | 33.2 |  |  |  | 1,393.0 |
Intersegment eliminations |  |  | — |  |  |  | (176.5 | ) |  |  | (176.5 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | 7,802.4 |  |  | $ | — |  |  | $ | 7,802.4 |  |  |  | 1,075.1 |  |  | $ | 517.7 |  |  | $ | 469.7 |  |  | $ | 8,681.1 |
Non-operating pension expense |  |  |  |  |  |  |  |  |  |  |  | (7.7 | ) |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (53.3 | ) |  |  |  |  |  |  |  |  |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 1,014.1 |  |  |  |  |  |  |  |  |  |
|  | Sales, net |  |  | Operating |  |  | Depreciation, |  |  |  |  |  |  |
Year Ended December 31, 2022 |  | Trade |  |  | Inter- segment |  |  | Total |  |  | Income (Loss) |  |  | Amortization, and Depletion |  |  | Capital Expenditures (i) |  |  | Assets |
Packaging |  | $ | 7,760.7 |  |  | $ | 20.0 |  |  | $ | 7,780.7 |  |  | $ | 1,423.7 |  | (c) | $ | 420.2 |  |  | $ | 753.5 |  |  | $ | 6,986.5 |
Paper |  |  | 622.1 |  |  |  | — |  |  |  | 622.1 |  |  |  | 103.0 |  | (d) |  | 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 (i) |  |  | Assets |
Packaging |  | $ | 7,036.2 |  |  | $ | 16.4 |  |  | $ | 7,052.6 |  |  | $ | 1,306.0 |  | (e) | $ | 381.0 |  |  | $ | 562.5 |  |  | $ | 6,603.3 |
Paper |  |  | 599.6 |  |  |  | 0.1 |  |  |  | 599.7 |  |  |  | 39.1 |  | (f) |  | 27.4 |  |  |  | 30.1 |  |  |  | 398.9 |
Corporate and Other |  |  | 94.5 |  |  |  | 135.9 |  |  |  | 230.4 |  |  |  | (103.7 | ) | (g) |  | 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 expense |  |  |  |  |  |  |  |  |  |  |  | 19.7 |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (152.4 | ) | (h) |  |  |  |  |  |  |  |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 1,108.7 |  |  |  |  |  |  |  |  |  |
(a) Includes $14.4 million of charges related to the closure of corrugated products facilities and design centers, partially offset by a gain on sale of a corrugated products facility. (b) Includes $11.1 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: • $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. (d) 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. (e) Includes the following: • $4.3 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. • $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. (f) Includes $9.3 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. (g) 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 associated with the permanent conversion of the machine to produce linerboard and other paper-to-containerboard conversion related activities. (h) 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. (i) 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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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