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Goodwill and Identifiable Intangible Assets, net (Tables)

9 Months Ended

Sep. 30, 2022

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, 2021						$	576.6					$	1,803.0					$	2,379.6
Accumulated amortization(1)						(49.3)						(140.9)						(190.2)
Carrying Value at December 31, 2021						$	527.3					$	1,662.1					$	2,189.4
Acquisition(2)						5.3						—						5.3
Currency translation						(16.8)						(20.8)						(37.6)
Carrying Value at September 30, 2022						$	515.8					$	1,641.3					$	2,157.1

(1)There was no change to our accumulated amortization balance during the nine months ended September 30, 2022.

(2)Represents the allocation of goodwill related to our acquisition of Foxpak. See Note 5, "Acquisition and Divestiture Activity," for further details.

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 September 30, 2022, there were no impairment indicators present.

			September 30, 2022																		December 31, 2021
(In millions)			Gross Carrying Value						Accumulated Amortization												Net						Gross Carrying Value						Accumulated Amortization												Net
Customer relationships			$	96.3					$	(44.7)											$	51.6					$	102.7					$	(42.4)											$	60.3
Trademarks and tradenames			30.5						(13.5)												17.0						31.2						(11.5)												19.7
Software			143.7						(105.9)												37.8						125.5						(90.5)												35.0
Technology			65.6						(42.0)												23.6						64.9						(38.3)												26.6
Contracts			11.3						(9.6)												1.7						11.5						(9.4)												2.1
Total intangible assets with definite lives			347.4						(215.7)												131.7						335.8						(192.1)												143.7
Trademarks and tradenames with indefinite lives			8.9						—												8.9						8.9						—												8.9
Total identifiable intangible assets, net			$	356.3					$	(215.7)											$	140.6					$	344.7					$	(192.1)											$	152.6

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 September 30, 2022, there were no impairment indicators present.

			September 30, 2022																		December 31, 2021
(In millions)			Gross Carrying Value						Accumulated Amortization												Net						Gross Carrying Value						Accumulated Amortization												Net
Customer relationships			$	96.3					$	(44.7)											$	51.6					$	102.7					$	(42.4)											$	60.3
Trademarks and tradenames			30.5						(13.5)												17.0						31.2						(11.5)												19.7
Software			143.7						(105.9)												37.8						125.5						(90.5)												35.0
Technology			65.6						(42.0)												23.6						64.9						(38.3)												26.6
Contracts			11.3						(9.6)												1.7						11.5						(9.4)												2.1
Total intangible assets with definite lives			347.4						(215.7)												131.7						335.8						(192.1)												143.7
Trademarks and tradenames with indefinite lives			8.9						—												8.9						8.9						—												8.9
Total identifiable intangible assets, net			$	356.3					$	(215.7)											$	140.6					$	344.7					$	(192.1)											$	152.6

Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at September 30, 2022. 

Year						Amount (In millions)
Remainder of 2022						$	9.5
2023						31.0
2024						24.2
2025						18.3
2026						8.8
Thereafter						39.9
Total						$	131.7

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