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Goodwill and Identifiable Intangible Assets, net (Tables) | 12 Months Ended
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Dec. 31, 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, 2022 |  | $ | 572.2 |  |  | $ | 1,792.0 |  |  | $ | 2,364.2 |
Accumulated amortization |  | (49.0) |  |  | (140.7) |  |  | (189.7) |
Carrying Value at December 31, 2022 |  | $ | 523.2 |  |  | $ | 1,651.3 |  |  | $ | 2,174.5 |
Acquisition(1) |  | 707.4 |  |  | — |  |  | 707.4 |
Currency translation |  | 4.7 |  |  | 6.1 |  |  | 10.8 |
Gross Carrying Value at December 31, 2023 |  | $ | 1,284.3 |  |  | $ | 1,798.1 |  |  | $ | 3,082.4 |
Accumulated amortization |  | (49.1) |  |  | (140.8) |  |  | (189.9) |
Carrying Value at December 31, 2023 |  | $ | 1,235.2 |  |  | $ | 1,657.3 |  |  | $ | 2,892.5 |
Currency translation |  | (6.4) |  |  | (7.9) |  |  | (14.3) |
Gross Carrying Value at December 31, 2024 |  | $ | 1,277.9 |  |  | $ | 1,790.2 |  |  | $ | 3,068.1 |
Accumulated amortization(2) |  | (48.9) |  |  | (140.7) |  |  | (189.6) |
Carrying Value at December 31, 2024 |  | $ | 1,229.0 |  |  | $ | 1,649.5 |  |  | $ | 2,878.5 |
(1)Represents amounts allocated to goodwill resulting from acquisitions, primarily for Liquibox. See Note 5, "Acquisitions," for further details. (2)The change in accumulated amortization from December 31, 2023 to December 31, 2024 is due to the impact of foreign currency translation.
Schedule of Indefinite-Lived Intangible Assets | The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of December 31, 2024, there were no impairment indicators present.
|  | December 31, 2024 |  | December 31, 2023
(In millions) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net |  | Gross Carrying Value |  | Accumulated Amortization |  | Net
Customer relationships |  | $ | 284.0 |  |  | $ | (89.9) |  |  | $ | 194.1 |  |  | $ | 287.7 |  |  | $ | (69.3) |  |  | $ | 218.4 |
Trademarks and tradenames |  | 56.5 |  |  | (23.9) |  |  | 32.6 |  |  | 57.0 |  |  | (19.4) |  |  | 37.6 |
Software |  | 156.3 |  |  | (131.5) |  |  | 24.8 |  |  | 148.2 |  |  | (112.8) |  |  | 35.4 |
Technology |  | 196.2 |  |  | (75.9) |  |  | 120.3 |  |  | 197.5 |  |  | (60.1) |  |  | 137.4 |
Contracts |  | 11.4 |  |  | (10.5) |  |  | 0.9 |  |  | 11.5 |  |  | (10.2) |  |  | 1.3 |
Total intangible assets with definite lives |  | 704.4 |  |  | (331.7) |  |  | 372.7 |  |  | 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 |  | $ | 713.3 |  |  | $ | (331.7) |  |  | $ | 381.6 |  |  | $ | 710.8 |  |  | $ | (271.8) |  |  | $ | 439.0 |
Schedule of Finite-Lived Intangible Assets | The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of December 31, 2024, there were no impairment indicators present.
|  | December 31, 2024 |  | December 31, 2023
(In millions) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net |  | Gross Carrying Value |  | Accumulated Amortization |  | Net
Customer relationships |  | $ | 284.0 |  |  | $ | (89.9) |  |  | $ | 194.1 |  |  | $ | 287.7 |  |  | $ | (69.3) |  |  | $ | 218.4 |
Trademarks and tradenames |  | 56.5 |  |  | (23.9) |  |  | 32.6 |  |  | 57.0 |  |  | (19.4) |  |  | 37.6 |
Software |  | 156.3 |  |  | (131.5) |  |  | 24.8 |  |  | 148.2 |  |  | (112.8) |  |  | 35.4 |
Technology |  | 196.2 |  |  | (75.9) |  |  | 120.3 |  |  | 197.5 |  |  | (60.1) |  |  | 137.4 |
Contracts |  | 11.4 |  |  | (10.5) |  |  | 0.9 |  |  | 11.5 |  |  | (10.2) |  |  | 1.3 |
Total intangible assets with definite lives |  | 704.4 |  |  | (331.7) |  |  | 372.7 |  |  | 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 |  | $ | 713.3 |  |  | $ | (331.7) |  |  | $ | 381.6 |  |  | $ | 710.8 |  |  | $ | (271.8) |  |  | $ | 439.0 |
Schedule of Remaining Estimated Future Amortization Expense | The following table shows the estimated future amortization expense at December 31, 2024.
Year |  | Amount (In millions)
2025 |  | $ | 58.9 |
2026 |  | 47.0 |
2027 |  | 41.6 |
2028 |  | 38.8 |
2029 |  | 37.6 |
Thereafter |  | 148.8 |
Total |  | $ | 372.7 |
Schedule of Remaining Weighted Average Useful Life of Definite Lived Intangible Assets | The following table shows the remaining weighted average useful life of our definite lived intangible assets as of December 31, 2024.
| Remaining weighted average useful lives
Customer relationships | 8.8
Trademarks and tradenames | 7.3
Software | 1.8
Technology | 9.5
Contracts | 2.9
Total identifiable intangible assets, net with definite lives | 8.4

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