XML 47 R36.htm IDEA: XBRL DOCUMENT
v3.21.1

Goodwill and Identifiable Intangible Assets, net (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Goodwill Balances by Segment Reporting Structure | The following table shows our goodwill balances by reportable segment:
(In millions) |  | Food |  | Protective |  | Total
Gross Carrying Value at December 31, 2020 |  | $ | 579.7 |  |  | $ | 1,833.6 |  |  | $ | 2,413.3 |
Accumulated impairment(1) |  | (49.5) |  |  | (141.2) |  |  | (190.7) |
Carrying Value at December 31, 2020 |  | $ | 530.2 |  |  | $ | 1,692.4 |  |  | $ | 2,222.6 |
Currency translation |  | (1.0) |  |  | (4.4) |  |  | (5.4) |
Carrying Value at March 31, 2021 |  | $ | 529.2 |  |  | $ | 1,688.0 |  |  | $ | 2,217.2 |
(1)There was no change to our accumulated impairment balance during the three months ended March 31, 2021.
Summary of Identifiable Intangible Assets with Indefinite Useful Lives | The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of March 31, 2021, there were no impairment indicators present.
| March 31, 2021 |  | December 31, 2020
(In millions) | Gross Carrying Value |  | Accumulated Amortization |  |  |  | Net |  | Gross Carrying Value |  | Accumulated Amortization |  |  |  | Net
Customer relationships | $ | 103.4 |  |  | $ | (38.2) |  |  |  |  | $ | 65.2 |  |  | $ | 105.2 |  |  | $ | (37.2) |  |  |  |  | $ | 68.0 |
Trademarks and tradenames | 31.1 |  |  | (9.2) |  |  |  |  | 21.9 |  |  | 31.3 |  |  | (8.5) |  |  |  |  | 22.8 |
Software | 109.6 |  |  | (75.2) |  |  |  |  | 34.4 |  |  | 104.7 |  |  | (69.7) |  |  |  |  | 35.0 |
Technology | 65.1 |  |  | (33.7) |  |  |  |  | 31.4 |  |  | 66.7 |  |  | (33.0) |  |  |  |  | 33.7 |
Contracts | 13.5 |  |  | (11.1) |  |  |  |  | 2.4 |  |  | 13.6 |  |  | (11.0) |  |  |  |  | 2.6 |
Total intangible assets with definite lives | 322.7 |  |  | (167.4) |  |  |  |  | 155.3 |  |  | 321.5 |  |  | (159.4) |  |  |  |  | 162.1 |
Trademarks and tradenames with indefinite lives | 8.9 |  |  | — |  |  |  |  | 8.9 |  |  | 8.9 |  |  | — |  |  |  |  | 8.9 |
Total identifiable intangible assets, net | $ | 331.6 |  |  | $ | (167.4) |  |  |  |  | $ | 164.2 |  |  | $ | 330.4 |  |  | $ | (159.4) |  |  |  |  | $ | 171.0 |
Summary of Identifiable Intangible Assets with Definite Useful Lives | The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of March 31, 2021, there were no impairment indicators present.
| March 31, 2021 |  | December 31, 2020
(In millions) | Gross Carrying Value |  | Accumulated Amortization |  |  |  | Net |  | Gross Carrying Value |  | Accumulated Amortization |  |  |  | Net
Customer relationships | $ | 103.4 |  |  | $ | (38.2) |  |  |  |  | $ | 65.2 |  |  | $ | 105.2 |  |  | $ | (37.2) |  |  |  |  | $ | 68.0 |
Trademarks and tradenames | 31.1 |  |  | (9.2) |  |  |  |  | 21.9 |  |  | 31.3 |  |  | (8.5) |  |  |  |  | 22.8 |
Software | 109.6 |  |  | (75.2) |  |  |  |  | 34.4 |  |  | 104.7 |  |  | (69.7) |  |  |  |  | 35.0 |
Technology | 65.1 |  |  | (33.7) |  |  |  |  | 31.4 |  |  | 66.7 |  |  | (33.0) |  |  |  |  | 33.7 |
Contracts | 13.5 |  |  | (11.1) |  |  |  |  | 2.4 |  |  | 13.6 |  |  | (11.0) |  |  |  |  | 2.6 |
Total intangible assets with definite lives | 322.7 |  |  | (167.4) |  |  |  |  | 155.3 |  |  | 321.5 |  |  | (159.4) |  |  |  |  | 162.1 |
Trademarks and tradenames with indefinite lives | 8.9 |  |  | — |  |  |  |  | 8.9 |  |  | 8.9 |  |  | — |  |  |  |  | 8.9 |
Total identifiable intangible assets, net | $ | 331.6 |  |  | $ | (167.4) |  |  |  |  | $ | 164.2 |  |  | $ | 330.4 |  |  | $ | (159.4) |  |  |  |  | $ | 171.0 |
Remaining Estimated Future Amortization Expense | The following table shows the remaining estimated future amortization expense at March 31, 2021.
Year |  | Amount (in millions)
Remainder of 2021 |  | $ | 27.6 |
2022 |  | 27.3 |
2023 |  | 20.8 |
2024 |  | 14.3 |
2025 |  | 13.8 |
Thereafter |  | 51.5 |
Total |  | $ | 155.3 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Subparagraph (b),(d) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration