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Revenue Recognition (Tables) | 6 Months Ended
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Jul. 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.
|  | July 3, 2022 |  | December 31, 2021
Contract Assets |  | $ | 65,377 |  |  | $ | 51,106 |
Contract Liabilities |  | $ | (25,631) |  |  | $ | (18,993) |
Significant changes in the contract assets and liabilities balances during the six months ended July 3, 2022 and the year ended December 31, 2021 were as follows:
|  | July 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 | — |  |  | (32,207) |  |  | — |  |  | (36,527) |  |  |  |  |  |  |  |  |  |  |  |  |
Recognized as revenue |  |  | 10,656 |  |  |  |  | 7,238 |  |  |  |  |  |  |  |  |  |  |  |  |
Rebates paid to customers | — |  |  | 20,330 |  |  | — |  |  | 26,983 |  |  |  |  |  |  |  |  |  |  |  |  |
Increases due to rights to consideration for customer specific goods produced, but not billed during the period | 57,270 |  |  | — |  |  | 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 | 8,107 |  |  | (5,417) |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance | $ | 65,377 |  |  | $ | (25,631) |  |  | $ | 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 July 3, 2022 and July 4, 2021. The tables also include a reconciliation of disaggregated revenue with reportable segments.
Three months ended July 3, 2022 | Consumer Packaging |  | Industrial Paper Packaging |  | All Other |  | Total
Primary Geographical Markets: |  |  |  |  |  |  |
United States | $ | 791,096 |  |  | $ | 436,680 |  |  | $ | 161,587 |  |  | $ | 1,389,363 |
Europe | 109,910 |  |  | 117,376 |  |  | 22,563 |  |  | 249,849 |
Canada | 27,980 |  |  | 29,312 |  |  | — |  |  | 57,292 |
Asia | 23,407 |  |  | 76,803 |  |  | 270 |  |  | 100,480 |
Other | 37,589 |  |  | 67,231 |  |  | 11,528 |  |  | 116,348 |
Total | $ | 989,982 |  |  | $ | 727,402 |  |  | $ | 195,948 |  |  | $ | 1,913,332 |
Three months ended July 4, 2021 | Consumer Packaging |  | Industrial Paper Packaging |  | All Other |  | Total
Primary Geographical Markets: |  |  |  |  |  |  |
United States | $ | 413,576 |  |  | $ | 346,367 |  |  | $ | 142,236 |  |  | $ | 902,179 |
Europe | 110,248 |  |  | 104,238 |  |  | 21,930 |  |  | 236,416 |
Canada | 30,193 |  |  | 23,985 |  |  | — |  |  | 54,178 |
Asia | 18,375 |  |  | 78,189 |  |  | 279 |  |  | 96,843 |
Other | 25,411 |  |  | 55,753 |  |  | 11,974 |  |  | 93,138 |
Total | $ | 597,803 |  |  | $ | 608,532 |  |  | $ | 176,419 |  |  | $ | 1,382,754 |
The following tables set forth information about revenue disaggregated by primary geographic regions for the six-month periods ended July 3, 2022 and July 4, 2021. The tables also include a reconciliation of disaggregated revenue with reportable segments.
Six months ended July 3, 2022 | Consumer Packaging |  | Industrial Paper Packaging |  | All Other |  | Total
Primary Geographical Markets: |  |  |  |  |  |  |
United States | $ | 1,445,511 |  |  | $ | 853,965 |  |  | $ | 327,660 |  |  | $ | 2,627,136 |
Europe | 230,080 |  |  | 234,203 |  |  | 46,689 |  |  | 510,972 |
Canada | 59,188 |  |  | 56,481 |  |  | — |  |  | 115,669 |
Asia | 49,041 |  |  | 150,422 |  |  | 563 |  |  | 200,026 |
Other | 74,261 |  |  | 131,458 |  |  | 24,792 |  |  | 230,511 |
Total | $ | 1,858,081 |  |  | $ | 1,426,529 |  |  | $ | 399,704 |  |  | $ | 3,684,314 |
Six months ended July 4, 2021 | Consumer Packaging |  | Industrial Paper Packaging |  | All Other |  | Total
Primary Geographical Markets: |  |  |  |  |  |  |
United States | $ | 811,373 |  |  | $ | 671,589 |  |  | $ | 316,967 |  |  | $ | 1,799,929 |
Europe | 225,428 |  |  | 200,922 |  |  | 43,339 |  |  | 469,689 |
Canada | 56,336 |  |  | 45,031 |  |  | — |  |  | 101,367 |
Asia | 39,528 |  |  | 151,561 |  |  | 520 |  |  | 191,609 |
Other | 47,891 |  |  | 104,826 |  |  | 20,747 |  |  | 173,464 |
Total | $ | 1,180,556 |  |  | $ | 1,173,929 |  |  | $ | 381,573 |  |  | $ | 2,736,058 |

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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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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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 https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
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