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Acquisitions and divestitures (Tables)
 12 Months Ended
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 PackagingSkjern
Initial Allocation(a)
Measurement Period AdjustmentsRevised Allocation
Initial Allocation(a)
Trade accounts receivable$113,850 $— $113,850 $8,055 
Other receivables14,569 (43)14,526 193 
Inventories190,070 381 190,451 2,595 
Prepaid expenses44,530 — 44,530 349 
Property, plant and equipment333,496 (2,462)331,034 24,334 
Right of use asset - operating leases38,000 — 38,000 28 
Other intangible assets498,000 — 498,000 42,818 
Goodwill366,098 (28,987)337,111 29,059 
Other net tangible assets48,069 (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 InformationJanuary 26 to
Metal PackagingDecember 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
ConsolidatedDecember 31, 2022December 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 PackagingWilson Thermoforming
Trade accounts receivable$26,342 $— 
Inventories8,434 1,805 
Property, plant and equipment, net9,551 550 
Right of use asset - operating leases11,627 147 
Goodwill53,039 1,058 
Trade accounts payable(10,735)— 
Accrued expenses(2,197)(54)
Operating lease liabilities(12,343)(70)
Other net tangible assets716 — 
Net asset disposal$84,434 $3,436 
Net proceeds81,675 3,528 
Loss/(Gain) on divestiture of business$2,759 $(92)