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Segment Reporting | 3 Months Ended
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Mar. 29, 2020
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company reports its financial results in four reportable segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. The Consumer Packaging segment includes the following products and services: round and shaped rigid containers and trays (both composite and thermoformed plastic); extruded and injection-molded plastic products; printed flexible packaging; global brand artwork management; and metal and peelable membrane ends and closures. The Display and Packaging segment includes the following products and services: designing, manufacturing, assembling, packing and distributing temporary, semi-permanent and permanent point-of-purchase displays; supply chain management services, including contract packing, fulfillment and scalable service centers; retail packaging, including printed backer cards, thermoformed blisters and heat sealing equipment; and paper amenities, such as coasters and glass covers. The Paper and Industrial Converted Products segment includes the following products: paperboard tubes, cones, and cores; fiber-based construction tubes; wooden, metal and composite wire and cable reels and spools; and recycled paperboard, linerboard, corrugating medium, recovered paper and material recycling services. The Protective Solutions segment includes the following products: custom-engineered, paperboard-based and expanded foam protective packaging and components; and temperature-assured packaging. The following table sets forth net sales, intersegment sales and operating profit for the Company’s reportable segments. “Segment operating profit” is defined as the segment’s portion of “Operating profit” excluding restructuring charges, asset impairment charges, acquisition-related costs, and certain other items, if any, the exclusion of which the Company believes improves comparability and analysis of the financial performance of the business. General corporate expenses have been allocated as operating costs to each of the Company’s reportable segments. SEGMENT FINANCIAL INFORMATION
|  |  |  |  |  | Three Months Ended |  |
|  |  |  |  |  | March 29, 2020 |  | March 31, 2019
Net sales: |  |  |  |  |  |  |  |
Consumer Packaging |  |  |  |  |  | $ | 588,417 |  |  | $ | 589,716 |
Display and Packaging |  |  |  |  |  | 121,356 |  |  | 137,554 |
Paper and Industrial Converted Products |  |  |  |  |  | 474,970 |  |  | 496,037 |
Protective Solutions |  |  |  |  |  | 118,553 |  |  | 128,398 |
Consolidated |  |  |  |  |  | $ | 1,303,296 |  |  | $ | 1,351,705 |
Intersegment sales: |  |  |  |  |  |  |  |
Consumer Packaging |  |  |  |  |  | $ | 2,273 |  |  | $ | 921 |
Display and Packaging |  |  |  |  |  | 1,298 |  |  | 1,167 |
Paper and Industrial Converted Products |  |  |  |  |  | 29,212 |  |  | 33,654 |
Protective Solutions |  |  |  |  |  | 372 |  |  | 462 |
Consolidated |  |  |  |  |  | $ | 33,155 |  |  | $ | 36,204 |
Operating profit: |  |  |  |  |  |  |  |
Segment operating profit: |  |  |  |  |  |  |  |
Consumer Packaging |  |  |  |  |  | $ | 67,801 |  |  | $ | 62,115 |
Display and Packaging |  |  |  |  |  | 8,094 |  |  | 6,454 |
Paper and Industrial Converted Products |  |  |  |  |  | 54,013 |  |  | 48,387 |
Protective Solutions |  |  |  |  |  | 14,004 |  |  | 11,004 |
Restructuring/Asset impairment charges |  |  |  |  |  | (12,599) |  |  | (10,672) |
Other, net |  |  |  |  |  | (1,210) |  |  | (400) |
Consolidated |  |  |  |  |  | $ | 130,103 |  |  | $ | 116,888 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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