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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information by Segment | Selected financial information by reportable segment was as follows (dollars in millions):
|  | Sales, net |  |  |  |  |
Three Months Ended September 30, 2024 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Segment Operating Income (Loss) |  |
Packaging |  | $ | 1,998.8 |  |  | $ | 9.9 |  |  | $ | 2,008.7 |  |  | $ | 320.7 |  | (a)
Paper |  |  | 159.3 |  |  |  | — |  |  |  | 159.3 |  |  |  | 38.5 |  |
Corporate and Other |  |  | 24.3 |  |  |  | 41.3 |  |  |  | 65.6 |  |  |  | (32.1 | ) |
Intersegment eliminations |  |  | — |  |  |  | (51.2 | ) |  |  | (51.2 | ) |  |  | — |  |
|  | $ | 2,182.4 |  |  | $ | — |  |  | $ | 2,182.4 |  |  |  | 327.1 |  |
Non-operating pension income |  |  |  |  |  |  |  |  |  |  |  | 1.2 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (9.7 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 318.6 |  |
|  | Sales, net |  |  |  |  |
Three Months Ended September 30, 2023 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Segment Operating Income (Loss) |  |
Packaging |  | $ | 1,755.2 |  |  | $ | 4.6 |  |  | $ | 1,759.8 |  |  | $ | 256.8 |  | (c)
Paper |  |  | 157.9 |  |  |  | — |  |  |  | 157.9 |  |  |  | 27.6 |  | (c)
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 |  |  |  |  |
Nine Months Ended September 30, 2024 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Segment Operating Income (Loss) |  |
Packaging |  | $ | 5,694.3 |  |  | $ | 21.0 |  |  | $ | 5,715.3 |  |  | $ | 804.3 |  | (a) (b)
Paper |  |  | 473.2 |  |  |  | — |  |  |  | 473.2 |  |  |  | 94.9 |  | (b)
Corporate and Other |  |  | 69.7 |  |  |  | 119.5 |  |  |  | 189.2 |  |  |  | (100.1 | ) |
Intersegment eliminations |  |  | — |  |  |  | (140.5 | ) |  |  | (140.5 | ) |  |  | — |  |
|  | $ | 6,237.2 |  |  | $ | — |  |  | $ | 6,237.2 |  |  |  | 799.1 |  |
Non-operating pension income |  |  |  |  |  |  |  |  |  |  |  | 3.4 |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  | (29.7 | ) |
Income before taxes |  |  |  |  |  |  |  |  |  |  | $ | 772.8 |  |
|  | Sales, net |  |  |  |  |
Nine Months Ended September 30, 2023 |  | Trade |  |  | Intersegment |  |  | Total |  |  | Segment Operating Income (Loss) |  |
Packaging |  | $ | 5,344.3 |  |  | $ | 14.4 |  |  | $ | 5,358.7 |  |  | $ | 810.5 |  | (c)
Paper |  |  | 451.6 |  |  |  | — |  |  |  | 451.6 |  |  |  | 90.8 |  | (c)
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 |  |
(a) The three and nine months ended September 30, 2024 include $0.9 million and $1.0 million, respectively, of charges consisting of closure costs related to corrugated products facilities. For the nine months ended September 30, 2024, these charges were partially offset by income primarily related to a favorable lease buyout for a closed corrugated products facility during the first quarter of 2024. (b) The nine months ended September 30, 2024 include $9.7 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) 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.

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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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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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