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Goodwill and Identifiable Intangible Assets, net (Tables)

3 Months Ended

Mar. 31, 2025

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, 2024						$	1,277.9					$	1,790.2					$	3,068.1
Accumulated amortization(1)						(48.9)						(140.7)						(189.6)
Carrying Value at December 31, 2024						$	1,229.0					$	1,649.5					$	2,878.5
Currency translation						3.4						4.2						7.6
Carrying Value at March 31, 2025						$	1,232.4					$	1,653.7					$	2,886.1

(1)There was no change to our accumulated amortization balance during the three months ended March 31, 2025.

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 March 31, 2025, there were no impairment indicators present.

			March 31, 2025																		December 31, 2024
(In millions)			Gross Carrying Value						Accumulated Amortization												Net						Gross Carrying Value						Accumulated Amortization												Net
Customer relationships			$	285.4					$	(96.3)											$	189.1					$	284.0					$	(89.9)											$	194.1
Trademarks and tradenames			56.5						(25.1)												31.4						56.5						(23.9)												32.6
Software			158.0						(135.7)												22.3						156.3						(131.5)												24.8
Technology			196.9						(80.5)												116.4						196.2						(75.9)												120.3
Contracts			11.4						(10.6)												0.8						11.4						(10.5)												0.9
Total intangible assets with definite lives			708.2						(348.2)												360.0						704.4						(331.7)												372.7
Trademarks and tradenames with indefinite lives			8.9						—												8.9						8.9						—												8.9
Total identifiable intangible assets, net			$	717.1					$	(348.2)											$	368.9					$	713.3					$	(331.7)											$	381.6

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 March 31, 2025, there were no impairment indicators present.

			March 31, 2025																		December 31, 2024
(In millions)			Gross Carrying Value						Accumulated Amortization												Net						Gross Carrying Value						Accumulated Amortization												Net
Customer relationships			$	285.4					$	(96.3)											$	189.1					$	284.0					$	(89.9)											$	194.1
Trademarks and tradenames			56.5						(25.1)												31.4						56.5						(23.9)												32.6
Software			158.0						(135.7)												22.3						156.3						(131.5)												24.8
Technology			196.9						(80.5)												116.4						196.2						(75.9)												120.3
Contracts			11.4						(10.6)												0.8						11.4						(10.5)												0.9
Total intangible assets with definite lives			708.2						(348.2)												360.0						704.4						(331.7)												372.7
Trademarks and tradenames with indefinite lives			8.9						—												8.9						8.9						—												8.9
Total identifiable intangible assets, net			$	717.1					$	(348.2)											$	368.9					$	713.3					$	(331.7)											$	381.6

Schedule of Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at March 31, 2025. 

Year						Amount (In millions)
Remainder of 2025						$	43.9
2026						47.6
2027						42.2
2028						39.5
2029						37.8
Thereafter						149.0
Total						$	360.0

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