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Segment Reporting
9 Months Ended
Oct. 01, 2023
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company’s operating and reporting structure consists of two reportable segments, Consumer Packaging and Industrial Paper Packaging, with all remaining businesses reported as All Other.
The products produced and sold within the Consumer Packaging segment consist primarily of round and shaped rigid paper, steel and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays; and high-barrier flexible packaging.
The primary products produced and sold within the Industrial Paper Packaging segment include paperboard tubes, cones, and cores; paper-based protective packaging; and uncoated recycled paperboard. Total assets of the Industrial Paper Packaging segment increased $364,566 during the third quarter of 2023 due to the acquisitions of the remaining interest in RTS Packaging and the Chattanooga Mill.
The primary products produced with the All Other group of businesses consist of a variety of packaging materials, including plastic, paper, foam, and various other specialty materials.
The following table sets forth net sales, intersegment sales and operating profit for the Company’s reportable segments and the All Other group of businesses. Segment operating profit is the measure of segment profit or loss reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing their performance in accordance with ASC 280 - “Segment Reporting,” as prescribed by the FASB.
Segment operating profit viewed by the Company’s management to evaluate segment performance does not include the following: restructuring/asset impairment charges; amortization of acquisition intangibles; acquisition, integration and divestiture-related costs; changes in last-in, first-out inventory reserves; gains/losses from the sale of businesses or other assets; or certain other items, if any, the exclusion of which the Company believes improves the comparability and
analysis of the ongoing operating performance of the business. All other general corporate expenses have been allocated as operating costs to each of the Company’s reportable segments and the All Other group of businesses.
SEGMENT FINANCIAL INFORMATION 
 Three Months EndedNine Months Ended
 October 1, 2023October 2, 2022October 1, 2023October 2, 2022
Net sales:
Consumer Packaging$938,407 $1,030,549 $2,771,290 $2,888,630 
Industrial Paper Packaging580,035 661,452 1,781,033 2,087,981 
All Other191,977 198,215 593,169 597,919 
Net sales$1,710,419 $1,890,216 $5,145,492 $5,574,530 
Intersegment sales:
Consumer Packaging$2,794 $1,663 $7,269 $5,189 
Industrial Paper Packaging3,032 33,936 77,163 101,072 
All Other1,900 2,532 7,317 7,755 
Intersegment sales$7,726 $38,131 $91,749 $114,016 
Operating profit:
Consumer Packaging$112,038 $127,859 $299,083 $440,889 
Industrial Paper Packaging75,006 81,859 256,413 248,721 
All Other25,502 15,373 81,409 46,426 
Corporate
Restructuring/Asset impairment charges(18,110)(20,652)(52,981)(43,357)
Amortization of acquisition intangibles(21,379)(20,690)(63,082)(60,361)
Other operating income/(charges), net
(10,120)(1,807)59,602 (83,838)
Operating profit$162,937 $181,942 $580,444 $548,480