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Segments (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Net Sales by Reportable Segment

The following table shows Net sales by reportable segment:

												Three Months Ended March 31,
(In millions)																		2025						2024
Net sales
Food																		$	852.1					$	868.4
As a % of Consolidated net sales																		67.0		%				65.3		%
Protective																		420.4						461.2
As a % of Consolidated net sales																		33.0		%				34.7		%
Consolidated Net sales																		$	1,272.5					$	1,329.6

Schedule of Gross Profit and a Reconciliation to Earnings Before Income Tax Provision and Discontinued Operations

The following tables show segment Gross profit and a reconciliation to earnings before income tax provision and discontinued operations:

						Three Months Ended March 31,
						2025
						Food						Protective						Total
Net sales						$	852.1					$	420.4					$	1,272.5
Cost of sales						584.0						296.3						880.3
Segment Gross profit						$	268.1					$	124.1					$	392.2
Other unallocated cost of sales																		0.5
Selling, general and administrative expenses																		190.5
Amortization expense of intangible assets																		15.2
Restructuring charges																		2.6
Operating profit																		183.4
Interest expense, net																		(56.8)
Other income, net																		0.5
Earnings before income tax provision and discontinued operations																		$	127.1

						Three Months Ended March 31,
						2024
						Food						Protective						Total
Net sales						$	868.4					$	461.2					$	1,329.6
Cost of sales						608.9						319.9						928.8
Segment Gross profit						$	259.5					$	141.3					$	400.8
Selling, general and administrative expenses																		185.5
Amortization expense of intangible assets																		14.8
Restructuring charges																		15.5
Operating profit																		185.0
Interest expense, net																		(65.1)
Other expense, net																		(0.8)
Earnings before income tax provision and discontinued operations																		$	119.1

Depreciation and Amortization by Segment

The following table shows depreciation and amortization by segment:

												Three Months Ended March 31,
(In millions)																		2025						2024
Food																		$	48.9					$	46.9
Protective																		22.4						21.5
Total Company depreciation and amortization(1)																		$	71.3					$	68.4

(1)    Includes share-based incentive compensation of $11.9 million and $8.7 million for the three months ended March 31, 2025 and 2024, respectively.

Schedule of Restructuring Charges By Segment

Restructuring charges by segment were as follows:

												Three Months Ended March 31,
(In millions)																		2025						2024
Food																		$	1.7					$	8.6
Protective																		0.9						6.9
Total Company restructuring charges																		$	2.6					$	15.5

Schedule of Assets by Reportable Segments

The following table shows assets allocated by reportable segment. Assets allocated by reportable segment include: trade receivables, net; inventory, net; property and equipment, net; goodwill; intangible assets, net; and leased systems, net.

(In millions)						March 31, 2025						December 31, 2024
Assets allocated to segments:
Food						$	3,406.3					$	3,301.4
Protective						2,586.1						2,599.6
Total segments						5,992.4						5,901.0
Assets not allocated:
Cash and cash equivalents						$	335.2					$	371.8
Income tax receivables						20.8						25.0
Other receivables						101.9						135.9
Deferred taxes						117.3						112.0
Other						481.6						476.4
Total assets						$	7,049.2					$	7,022.1

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Reconciliation Of Restructuring Charges By Segment

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Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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