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Revenue Recognition (Tables)

3 Months Ended

Apr. 03, 2022

Revenue from Contract with Customer [Abstract]

Receivables, contracts assets and liabilities from contracts with customers

The following tables set forth the effects of contract assets and liabilities from contracts with customers. Contract assets and liabilities are reported in "Other receivables" and "Accrued expenses and other," respectively, on the Company's Condensed Consolidated Balance Sheets.

						April 3, 2022						December 31, 2021
Contract Assets						$	67,185					$	51,106
Contract Liabilities						$	(28,489)					$	(18,993)

Significant changes in the contract assets and liabilities balances during the three months ended April 3, 2022 and the year ended December 31, 2021 were as follows:

						April 3, 2022												December 31, 2021
						Contract Asset						Contract Liability						Contract Asset						Contract Liability
Beginning Balance						$	51,106					$	(18,993)					$	48,390					$	(16,687)
Revenue deferred or rebates accrued						—						(23,377)						—						(36,527)
Recognized as revenue												9,098												7,238
Rebates paid to customers						—						10,200						—						26,983
Increases due to rights to consideration for customer specific goods produced, but not billed during the period						59,259						—						51,106						—
Transferred to receivables from contract assets recognized at the beginning of the period						(51,106)						—						(48,390)						—
Acquired as part of a business combination						7,926						(5,417)						—						—
Ending Balance						$	67,185					$	(28,489)					$	51,106					$	(18,993)

Disaggregation of revenue

The following tables set forth information about revenue disaggregated by primary geographic regions for the three-month periods ended April 3, 2022 and April 4, 2021. The tables also include a reconciliation of disaggregated revenue with reportable segments.

Three months ended April 3, 2022			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	654,414					$	417,286					$	166,074					$	1,237,774
Europe			120,170						116,827						24,125						261,122
Canada			31,208						27,170						—						58,378
Asia			25,634						73,619						292						99,545
Other			36,672						64,227						13,264						114,163
Total			$	868,098					$	699,129					$	203,755					$	1,770,982

Three months ended April 4, 2021			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	397,797					$	325,222					$	174,731					$	897,750
Europe			115,180						96,684						21,409						233,273
Canada			26,143						21,046						—						47,189
Asia			21,153						73,372						241						94,766
Other			22,480						49,073						8,773						80,326
Total			$	582,753					$	565,397					$	205,154					$	1,353,304

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- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

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- References

No definition available.

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