XML 62 R50.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Accumulated other comprehensive loss (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Equity [Abstract] |
Summary of Components of Accumulated Other Comprehensive Loss | The following table summarizes the components of accumulated other comprehensive loss and the changes in accumulated other comprehensive loss, net of tax as applicable, for the years ended December 31, 2023 and 2022:
| Foreign Currency Items |  | Defined Benefit Pension Items |  | Gains and Losses on Cash Flow Hedges |  | Accumulated Other Comprehensive Loss
Balance at December 31, 2021 | $ | (269,076) |  |  | $ | (91,397) |  |  | $ | 1,048 |  |  | $ | (359,425) |
Other comprehensive (loss)/income before reclassifications | (72,987) |  |  | (3,471) |  |  | 3,244 |  |  | (73,214) |
Amounts reclassified from accumulated other comprehensive loss to net income | 3,747 |  |  | 3,895 |  |  | (5,593) |  |  | 2,049 |
Amounts reclassified from accumulated other comprehensive loss to fixed assets | — |  |  | — |  |  | 507 |  |  | 507 |
Other comprehensive (loss)/income | (69,240) |  |  | 424 |  |  | (1,842) |  |  | (70,658) |
Balance at December 31, 2022 | $ | (338,316) |  |  | $ | (90,973) |  |  | $ | (794) |  |  | $ | (430,083) |
Other comprehensive income/(loss) before reclassifications | 68,705 |  |  | (16,305) |  |  | 6,622 |  |  | 59,022 |
Amounts reclassified from accumulated other comprehensive loss to net income | 2,033 |  |  | 7,651 |  |  | (5,177) |  |  | 4,507 |
Amounts reclassified from accumulated other comprehensive loss to fixed assets | — |  |  | — |  |  | 292 |  |  | 292 |
Other comprehensive income/(loss) | 70,738 |  |  | (8,654) |  |  | 1,737 |  |  | 63,821 |
Balance at December 31, 2023 | $ | (267,578) |  |  | $ | (99,627) |  |  | $ | 943 |  |  | $ | (366,262) |
Summary of Effects on Net Income of Significant Amounts Reclassified from Accumulated Other Comprehensive Loss | The following table summarizes the amounts reclassified from accumulated other comprehensive loss and the affected line items in the consolidated statements of net income for the years ended December 31, 2023 and 2022:
Amount Reclassified from Accumulated Other Comprehensive Loss
Details about Accumulated Other Comprehensive Loss Components | Year Ended December 31, 2023 |  | Year Ended December 31, 2022 |  | Affected Line Item in the Consolidated Statements of Net Income
Foreign currency items |  |  |  |  |
Loss on Russia restructuring (see Note 4) | $ | — |  |  | $ | (3,747) |  |  | Restructuring/Asset impairment charges
Loss on RTS Packaging investment (see Note 3) | (2,033) |  |  | — |  |  | Other income, net
| (2,033) |  |  | (3,747) |  |  | Net income/(loss)
Defined benefit pension items (see Note 14) |  |  |  |  |
Pension-related loss upon purchase of remaining interest in RTS Packaging joint venture | (4,756) |  |  | — |  |  | Other income, net
Effect of settlement loss | (1,010) |  |  | (479) |  |  | Non-operating pension cost
Effect of curtailment loss | — |  |  | (43) |  |  | Non-operating pension cost
Amortization of defined benefit pension items | (4,458) |  |  | (6,472) |  |  | Non-operating pension cost
| (10,224) |  |  | (6,994) |  |  | Income/(loss) before income taxes
| 2,573 |  |  | 3,099 |  |  | Provision for/(Benefit from) income taxes
| (7,651) |  |  | (3,895) |  |  | Net income/(loss)
Gains and losses on cash flow hedges (see Note 11) |  |  |  |
Foreign exchange contracts | 10,860 |  |  | 3,460 |  |  | Net Sales
Foreign exchange contracts | (3,728) |  |  | (2,852) |  |  | Cost of sales
Commodity contracts | (32) |  |  | 6,948 |  |  | Cost of sales
| 7,100 |  |  | 7,556 |  |  | Income/(loss) before income taxes
| (1,923) |  |  | (1,963) |  |  | Provision for/(Benefit from) income taxes
| 5,177 |  |  | 5,593 |  |  | Net income/(loss)
Amounts reclassified to net income from accumulated other comprehensive loss | $ | (4,507) |  |  | $ | (2,049) |  |  | Net income/(loss)
Summary of Before and After Tax Amounts for Comprehensive Income (Loss) Components | The following table summarizes the tax expense/(benefit) for the components of other comprehensive income/(loss):
|  | For the year ended December 31, 2023 |  | For the year ended December 31, 2022
|  | Before Tax Amount | Tax | After Tax Amount |  | Before Tax Amount | Tax | After Tax Amount
Foreign currency items: |  |  |  |  |  |  |  |
Other comprehensive income/(loss) before reclassifications |  | $ | 67,411 |  | $ | 1,294 |  | $ | 68,705 |  |  | $ | (72,987) |  | $ | — |  | $ | (72,987) |
Amounts reclassified from accumulated other comprehensive loss to net income |  | 2,033 |  | — |  | 2,033 |  |  | 3,747 |  | — |  | 3,747 |
Net other comprehensive income/(loss) from foreign currency items |  | 69,444 |  | 1,294 |  | 70,738 |  |  | (69,240) |  | — |  | (69,240) |
Defined benefit pension items: |  |  |  |  |  |  |  |
Other comprehensive (loss)/ income before reclassifications |  | (21,815) |  | 5,510 |  | (16,305) |  |  | (3,365) |  | (106) |  | (3,471) |
Amounts reclassified from accumulated other comprehensive loss to net income |  | 10,224 |  | (2,573) |  | 7,651 |  |  | 6,994 |  | (3,099) |  | 3,895 |
Net other comprehensive (loss)/income from defined benefit pension items(a) |  | (11,591) |  | 2,937 |  | (8,654) |  |  | 3,629 |  | (3,205) |  | 424 |
Cash flow hedges: |  |  |  |  |  |  |  |
Other comprehensive income/(loss) before reclassifications |  | 9,081 |  | (2,459) |  | 6,622 |  |  | 4,312 |  | (1,068) |  | 3,244 |
Amounts reclassified from accumulated other comprehensive loss to net income |  | (7,100) |  | 1,923 |  | (5,177) |  |  | (7,556) |  | 1,963 |  | (5,593) |
Amounts reclassified from accumulated other comprehensive loss to fixed assets |  | 401 |  | (109) |  | 292 |  |  | 805 |  | (298) |  | 507 |
Net other comprehensive (loss)/income from cash flow hedges |  | 2,382 |  | (645) |  | 1,737 |  |  | (2,439) |  | 597 |  | (1,842) |
Other comprehensive income/(loss) |  | $ | 60,235 |  | $ | 3,586 |  | $ | 63,821 |  |  | $ | (68,050) |  | $ | (2,608) |  | $ | (70,658) |
(a) The net other comprehensive (loss)/income from defined benefit pension items includes pretax changes of $1,391 during the year ended December 31, 2022 related to the Company’s former equity method investment in RTS Packaging.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration