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Acquisitions and Divestitures (Tables)

3 Months Ended

Apr. 03, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of preliminary fair value of assets acquired and measurement period adjustments

The preliminary fair values of the assets acquired and the liabilities assumed in the Ball Metalpack acquisition are as follows:

Trade accounts receivable			$	123,001
Inventories			190,070
Prepaid expenses			44,530
Property, plant and equipment			333,496
Right of use asset - operating leases			38,000
Other intangible assets			498,000
Goodwill			366,098
Payable to suppliers			(105,580)
Accrued expenses and other			(25,253)
Notes payable and current portion of long-term debt			(46,463)
Noncurrent operating lease liabilities			(30,448)
Long-term debt			(39,543)
Deferred income taxes			(52,312)
Other net tangible assets			48,069
Net assets, excluding cash			$	1,341,665

Schedule of proforma supplemental information

The following table presents the unaudited financial results for Ball Metalpack from the date of acquisition through the end of the three month period ended April 3, 2022:

Supplemental Information (unaudited)			January 26 to
Ball Metalpack			April 3, 2022
Actual net sales			$	171,228
Actual net income			$	14,019

The following table presents the Company’s estimated unaudited pro forma consolidated results for the three month periods ended April 3, 2022 and April 4, 2021, assuming the acquisition of Ball Metalpack had occurred on January 1, 2021. This unaudited pro forma information is presented for informational purposes only and does not purport to represent the results of operations that would have been achieved if the acquisition had been completed at the beginning of 2021, nor is it necessarily indicative of future consolidated results.

Pro Forma Supplemental Information (unaudited)									Three Months Ended
Consolidated												April 3, 2022			April 4, 2021
Net sales												$	1,820,570		$	1,549,616
Net income attributable to Sonoco												$	164,881		$	20,813

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- References

No definition available.

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472

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