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Goodwill and Identifiable Intangible Assets, net (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule 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, 2023						$	1,284.3					$	1,798.1					$	3,082.4
Accumulated amortization(1)						(49.1)						(140.8)						(189.9)
Carrying Value at December 31, 2023						$	1,235.2					$	1,657.3					$	2,892.5
Currency translation						2.6						1.7						4.3
Carrying Value at September 30, 2024						$	1,237.8					$	1,659.0					$	2,896.8

(1)There was no change to our accumulated amortization balance during the nine months ended September 30, 2024.

Schedule 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, 2024, there were no impairment indicators present.

			September 30, 2024																		December 31, 2023
(In millions)			Gross Carrying Value						Accumulated Amortization												Net						Gross Carrying Value						Accumulated Amortization												Net
Customer relationships			$	287.7					$	(86.2)											$	201.5					$	287.7					$	(69.3)											$	218.4
Trademarks and tradenames			56.9						(23.0)												33.9						57.0						(19.4)												37.6
Software			154.6						(127.2)												27.4						148.2						(112.8)												35.4
Technology			197.7						(72.8)												124.9						197.5						(60.1)												137.4
Contracts			11.5						(10.5)												1.0						11.5						(10.2)												1.3
Total intangible assets with definite lives			708.4						(319.7)												388.7						701.9						(271.8)												430.1
Trademarks and tradenames with indefinite lives			8.9						—												8.9						8.9						—												8.9
Total identifiable intangible assets, net			$	717.3					$	(319.7)											$	397.6					$	710.8					$	(271.8)											$	439.0

Schedule 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, 2024, there were no impairment indicators present.

			September 30, 2024																		December 31, 2023
(In millions)			Gross Carrying Value						Accumulated Amortization												Net						Gross Carrying Value						Accumulated Amortization												Net
Customer relationships			$	287.7					$	(86.2)											$	201.5					$	287.7					$	(69.3)											$	218.4
Trademarks and tradenames			56.9						(23.0)												33.9						57.0						(19.4)												37.6
Software			154.6						(127.2)												27.4						148.2						(112.8)												35.4
Technology			197.7						(72.8)												124.9						197.5						(60.1)												137.4
Contracts			11.5						(10.5)												1.0						11.5						(10.2)												1.3
Total intangible assets with definite lives			708.4						(319.7)												388.7						701.9						(271.8)												430.1
Trademarks and tradenames with indefinite lives			8.9						—												8.9						8.9						—												8.9
Total identifiable intangible assets, net			$	717.3					$	(319.7)											$	397.6					$	710.8					$	(271.8)											$	439.0

Schedule of Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at September 30, 2024. 

Year						Amount (In millions)
Remainder of 2024						$	16.9
2025						57.7
2026						46.6
2027						41.0
2028						39.1
Thereafter						187.4
Total						$	388.7

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