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Segments | 6 Months Ended
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Jun. 30, 2013
Segment Reporting [Abstract] |
Segments | (4) Segments During the fourth quarter of 2012, we began to operate under three new business divisions for our segment reporting structure. This new structure replaced our legacy seven business unit structure. Our new segment reporting structure, which we also refer to as “divisions”, reflects the way management now makes operating decisions and manages the growth and profitability of the business. It also corresponds with management’s current approach of allocating resources and assessing the performance of our segments. We report our segment information in accordance with the provision of FASB ASU Topic 280, “Segment Reporting.” The changes to our segment structure have no effect on the historical consolidated results of operations of the Company. Prior period segment results have been revised to the new segment presentation. The following table shows net sales, depreciation and amortization and operating profit by our segment reporting structure:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Net sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Food & Beverage |  | $ | 946.5 |  |  | $ | 922.6 |  |  | $ | 1,849.0 |  |  | $ | 1,817.7 |
Institutional & Laundry |  |  | 569.8 |  |  |  | 560.5 |  |  |  | 1,082.7 |  |  |  | 1,070.7 |
Protective Packaging |  |  | 394.3 |  |  |  | 390.8 |  |  |  | 780.9 |  |  |  | 782.1 |
Other Category |  |  | 50.9 |  |  |  | 50.7 |  |  |  | 101.7 |  |  |  | 99.5 |
Total |  | $ | 1,961.5 |  |  | $ | 1,924.6 |  |  | $ | 3,814.3 |  |  | $ | 3,770.0 |
Depreciation and amortization(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Food & Beverage |  | $ | 32.3 |  |  | $ | 36.5 |  |  | $ | 66.0 |  |  | $ | 77.9 |
Institutional & Laundry |  |  | 32.5 |  |  |  | 32.4 |  |  |  | 66.3 |  |  |  | 63.1 |
Protective Packaging |  |  | 10.2 |  |  |  | 9.5 |  |  |  | 20.4 |  |  |  | 19.2 |
Other Category |  |  | 7.6 |  |  |  | 2.8 |  |  |  | 10.4 |  |  |  | 5.5 |
Total |  | $ | 82.6 |  |  | $ | 81.2 |  |  | $ | 163.1 |  |  | $ | 165.7 |
Operating profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Food & Beverage |  | $ | 103.7 |  |  | $ | 69.8 |  |  | $ | 196.5 |  |  | $ | 152.1 |
Institutional & Laundry |  |  | 37.2 |  |  |  | 20.9 |  |  |  | 28.7 |  |  |  | 20.2 |
Protective Packaging |  |  | 44.0 |  |  |  | 46.7 |  |  |  | 90.7 |  |  |  | 97.6 |
Other Category |  |  | (4.0 | ) |  |  | (1.0 | ) |  |  | (4.6 | ) |  |  | (1.6 | )
Total segments and other |  |  | 180.9 |  |  |  | 136.4 |  |  |  | 311.3 |  |  |  | 268.3 |
Costs related to the acquisition and integration of Diversey |  |  | 0.1 |  |  |  | 1.7 |  |  |  | 0.5 |  |  |  | 3.5 |
Restructuring and other charges(2) |  |  | 11.9 |  |  |  | 26.3 |  |  |  | 11.7 |  |  |  | 73.3 |
Total |  | $ | 168.9 |  |  | $ | 108.4 |  |  | $ | 299.1 |  |  | $ | 191.5 |
(1) | Includes depreciation and amortization of $75.4 million in the three months ended June 30, 2013, $75.3 million in the three months ended June 30, 2012, $148.2 million in the six months ended June 30, 2013 and $155.2 million in the six months ended June 30, 2012, and amortization of share-based incentive compensation expense of $7.2 million in the three months ended June 30, 2013, $5.9 million in the three months ended June 30, 2012, $14.9 million in the six months ended June 30, 2013 and $10.5 million in the six months ended June 30, 2012.
(2) | Restructuring and other charges by our segment reporting structure were as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Food & Beverage |  | $ | 4.9 |  |  | $ | 20.0 |  |  | $ | 2.7 |  |  | $ | 55.7 |
Institutional & Laundry |  |  | 5.7 |  |  |  | 2.7 |  |  |  | 4.9 |  |  |  | 7.6 |
Protective Packaging |  |  | 1.2 |  |  |  | 3.4 |  |  |  | 4.0 |  |  |  | 9.6 |
Other Category |  |  | 0.1 |  |  |  | 0.2 |  |  |  | 0.1 |  |  |  | 0.4 |
Total |  | $ | 11.9 |  |  | $ | 26.3 |  |  |  | 11.7 |  |  | $ | 73.3 |
The restructuring and other charges in 2013 primarily relate to our previously announced 2013 Earnings Quality Improvement Program (EQIP). See Note 9, “Restructuring Activities.” Allocation of Goodwill to Reportable Segments Our management views goodwill and identifiable intangible assets as a corporate asset, so we do not allocate their balances to the reportable segments. However, we are required to allocate their balances to each reporting unit to perform our annual impairment review of goodwill. See Note 7, “Goodwill and Identifiable Intangible Assets,” for the allocation of goodwill and the changes in goodwill in the six months ended June 30, 2013 by our reporting unit structure.

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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/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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