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Acquisitions and divestitures (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Fair values of assets acquired and liabilities assumed in connection with acquisition | The Company's initial preliminary fair values of the assets acquired and the liabilities assumed in the Metal Packaging and Skjern acquisitions, as well as revised preliminary fair values reflecting adjustments made during the measurement period for Metal Packaging, are as follows:
| Metal Packaging |  | Skjern
| Initial Allocation(a) |  | Measurement Period Adjustments |  | Revised Allocation |  | Initial Allocation(a)
Trade accounts receivable | $ | 113,850 |  |  | $ | — |  |  | $ | 113,850 |  |  | $ | 8,055 |
Other receivables | 14,569 |  |  | (43) |  |  | 14,526 |  |  | 193 |
Inventories | 190,070 |  |  | 381 |  |  | 190,451 |  |  | 2,595 |
Prepaid expenses | 44,530 |  |  | — |  |  | 44,530 |  |  | 349 |
Property, plant and equipment | 333,496 |  |  | (2,462) |  |  | 331,034 |  |  | 24,334 |
Right of use asset - operating leases | 38,000 |  |  | — |  |  | 38,000 |  |  | 28 |
Other intangible assets | 498,000 |  |  | — |  |  | 498,000 |  |  | 42,818 |
Goodwill | 366,098 |  |  | (28,987) |  |  | 337,111 |  |  | 29,059 |
Other net tangible assets | 48,069 |  |  | (196) |  |  | 47,873 |  |  | — |
Payable to suppliers | (105,580) |  |  | — |  |  | (105,580) |  |  | (3,466) |
Accrued expenses and other | (30,671) |  |  | 691 |  |  | (29,980) |  |  | (1,173) |
Taxes payable | — |  |  | — |  |  | — |  |  | (576) |
Notes payable and current portion of long-term debt | (46,463) |  |  | — |  |  | (46,463) |  |  | — |
Noncurrent operating lease liabilities | (30,448) |  |  | — |  |  | (30,448) |  |  | (20) |
Long-term debt | (39,543) |  |  | — |  |  | (39,543) |  |  | — |
Deferred income taxes | (52,312) |  |  | 22,720 |  |  | (29,592) |  |  | (13,549) |
Total purchase price, net of cash acquired | $ | 1,341,665 |  |  | $ | (7,896) |  |  | $ | 1,333,769 |  |  | $ | 88,647 |
Pro forma supplemental information | The following table presents the financial results for Metal Packaging from the date of acquisition through December 31, 2022:
Supplemental Information |  | January 26 to
Metal Packaging |  | December 31, 2022
Net sales |  | $ | 1,035,020 |
Net income |  | $ | 62,777 |
The following table presents the Company’s pro forma consolidated results for the years ended December 31, 2022 and December 31, 2021, assuming the acquisition of Metal Packaging had occurred on January 1, 2021. This 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 |  |  | Years Ended
Consolidated |  |  |  | December 31, 2022 | December 31, 2021
Net sales |  |  |  | $ | 7,300,140 |  | $ | 6,425,771 |
Net income/(loss) attributable to Sonoco |  |  |  | $ | 528,818 |  | $ | (145,570) |
Schedule of assets and liabilities held-for-sale | Assets and liabilities disposed of in the sales of U.S. Display and Packaging and Wilson Thermoforming included the following:
| U.S. Display and Packaging |  | Wilson Thermoforming |
Trade accounts receivable | $ | 26,342 |  |  | $ | — |  |
Inventories | 8,434 |  |  | 1,805 |  |
Property, plant and equipment, net | 9,551 |  |  | 550 |  |
Right of use asset - operating leases | 11,627 |  |  | 147 |  |
Goodwill | 53,039 |  |  | 1,058 |  |
Trade accounts payable | (10,735) |  |  | — |  |
Accrued expenses | (2,197) |  |  | (54) |  |
Operating lease liabilities | (12,343) |  |  | (70) |  |
Other net tangible assets | 716 |  |  | — |  |
Net asset disposal | $ | 84,434 |  |  | $ | 3,436 |  |
Net proceeds | 81,675 |  |  | 3,528 |  |
Loss/(Gain) on divestiture of business | $ | 2,759 |  |  | $ | (92) |  |

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