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Segment reporting | 12 Months Ended
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Dec. 31, 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 are generally used to package a variety of consumer products and 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. The primary products produced within the All Other group of businesses consist of a variety of packaging materials, including plastic, paper, foam, and various other specialty materials. Effective January 1, 2024, the Company will integrate its flexible packaging and thermoforming packaging businesses within the Consumer Packaging segment in order to streamline operations, enhance customer service and better position the business for accelerated growth. As a result, the Company will change its operating and reporting structure to reflect the way it plans to manage its operations, evaluate performance, and allocate resources going forward. Therefore, in future reporting periods, the Company’s consumer thermoforming businesses will move from the All Other group of businesses to the Consumer Packaging segment. The Company’s Industrial Paper Packaging segment will not be affected by these changes. As of and for the year ended December 31, 2023, there were no changes to the manner in which the Company reviewed financial information at the segment level; therefore, these changes had no impact on our reporting structure. The following table sets forth financial information about each of the Company’s business segments and All Other group of businesses:
| Years ended December 31
| Consumer Packaging |  | Industrial Paper Packaging |  | All Other |  | Corporate |  | Consolidated
Total Revenue |  |  |  |  |  |
2023 | $ | 3,639,759 |  |  | $ | 2,475,935 |  |  | $ | 789,781 |  |  | $ | — |  |  | $ | 6,905,475 |
2022 | 3,774,957 |  |  | 2,818,778 |  |  | 808,069 |  |  | — |  |  | 7,401,804 |
2021 | 2,373,583 |  |  | 2,578,379 |  |  | 768,476 |  |  | — |  |  | 5,720,438 |
Intersegment Sales 1 |  |  |  |  |  |  |  |  |
2023 | $ | 12,782 |  |  | $ | 101,822 |  |  | $ | 9,579 |  |  | $ | — |  |  | $ | 124,183 |
2022 | 7,001 |  |  | 134,215 |  |  | 10,036 |  |  | — |  |  | 151,252 |
2021 | 5,236 |  |  | 114,067 |  |  | 10,697 |  |  | — |  |  | 130,000 |
Sales to Unaffiliated Customers |  |  |  |  |  |  |  |
2023 | $ | 3,626,977 |  |  | $ | 2,374,113 |  |  | $ | 780,202 |  |  | $ | — |  |  | $ | 6,781,292 |
2022 | 3,767,956 |  |  | 2,684,563 |  |  | 798,033 |  |  | — |  |  | 7,250,552 |
2021 | 2,368,347 |  |  | 2,464,312 |  |  | 757,779 |  |  | — |  |  | 5,590,438 |
Income/(Loss) Before Income Taxes 2 |  |  |  |  |  |  |  |
2023 | $ | 382,063 |  |  | $ | 313,545 |  |  | $ | 103,745 |  |  | $ | (184,521) |  |  | $ | 614,832 |
2022 | 526,028 |  |  | 327,859 |  |  | 65,978 |  |  | (348,583) |  |  | 571,282 |
2021 | 274,926 |  |  | 226,798 |  |  | 63,060 |  |  | (725,766) |  |  | (160,982) |
Identifiable Assets 3 |  |  |  |  |  |  |  |  |
2023 | $ | 3,682,650 |  |  | $ | 2,559,026 |  |  | $ | 825,003 |  |  | $ | 125,278 |  |  | $ | 7,191,957 |
2022 | 3,825,675 |  |  | 2,079,326 |  |  | 871,800 |  |  | 276,139 |  |  | 7,052,940 |
2021 | 1,956,688 |  |  | 1,971,293 |  |  | 886,647 |  |  | 258,607 |  |  | 5,073,235 |
Depreciation, Depletion and Amortization 4 |  |  |  |  |  |  |  |
2023 | $ | 124,483 |  |  | $ | 104,722 |  |  | $ | 24,519 |  |  | $ | 87,264 |  |  | $ | 340,988 |
2022 | 111,599 |  |  | 91,944 |  |  | 24,854 |  |  | 80,427 |  |  | 308,824 |
2021 | 78,802 |  |  | 91,141 |  |  | 25,822 |  |  | 49,419 |  |  | 245,184 |
Capital Expenditures |  |  |  |  |  |  |  |  |
2023 | $ | 186,109 |  |  | $ | 111,619 |  |  | $ | 24,838 |  |  | $ | 40,511 |  |  | $ | 363,077 |
2022 | 127,478 |  |  | 145,021 |  |  | 21,177 |  |  | 35,093 |  |  | 328,769 |
2021 | 60,532 |  |  | 150,225 |  |  | 22,780 |  |  | 22,482 |  |  | 256,019 |
1 | Intersegment sales are recorded at a market-related transfer price.
2 | Included in Corporate above are restructuring/asset impairment charges, changes in LIFO inventory reserves, net, gains or losses from derivatives, gains or losses from the divestiture of businesses and other assets, acquisition, integration and divestiture-related costs, amortization of acquired intangibles, and other non-operating income and expenses associated with the following segments:
| Consumer Packaging |  | Industrial Paper Packaging |  | All Other |  | Corporate |  | Total
2023 | $ | (56,237) |  |  | $ | 17,064 |  |  | $ | (24,486) |  |  | $ | (120,862) |  |  | $ | (184,521) |
2022 | (138,343) |  |  | (40,805) |  |  | (18,800) |  |  | (150,635) |  |  | (348,583) |
2021 | (25,983) |  |  | (2,570) |  |  | (23,312) |  |  | (673,900) |  |  | (725,765) |
| The remaining amounts reported as Corporate consist of: interest expense; interest income; non-operating pension costs; and portions of acquisition, integration and divestiture-related costs, restructuring, other income, net, and other non-operating income and expenses not associated with a particular segment.
3 | Identifiable assets are those assets used by each segment in its operations. Corporate assets consist primarily of cash and cash equivalents, investments in affiliates, headquarters facilities, deferred income taxes and prepaid expenses.
4 | Depreciation and depletion incurred at Corporate are allocated to the reportable segments.
Geographic regions Sales to unaffiliated customers and long-lived assets by geographic region are as follows:
| 2023 |  | 2022 |  | 2021 |  |  |  |
Sales to Unaffiliated Customers |  |  |  |  |  |  |  |  |
United States | $ | 4,818,736 |  |  | $ | 5,232,092 |  |  | $ | 3,650,090 |  |  |  |  |
Europe | 921,347 |  |  | 961,697 |  |  | 941,655 |  |  |  |  |
Canada | 216,690 |  |  | 227,668 |  |  | 212,272 |  |  |  |  |
Asia Pacific | 335,557 |  |  | 373,734 |  |  | 401,003 |  |  |  |  |
Other | 488,962 |  |  | 455,361 |  |  | 385,418 |  |  |  |  |
Total | $ | 6,781,292 |  |  | $ | 7,250,552 |  |  | $ | 5,590,438 |  |  |  |  |
Long-lived Assets |  |  |  |  |  |  |  |  |
United States | $ | 3,504,438 |  |  | $ | 3,240,011 |  |  | $ | 2,078,342 |  |  |  |  |
Europe | 653,730 |  |  | 607,996 |  |  | 545,211 |  |  |  |  |
Canada | 113,888 |  |  | 96,210 |  |  | 104,913 |  |  |  |  |
Asia Pacific | 158,301 |  |  | 157,030 |  |  | 157,084 |  |  |  |  |
Other | 196,504 |  |  | 85,233 |  |  | 68,949 |  |  |  |  |
Total | $ | 4,626,861 |  |  | $ | 4,186,480 |  |  | $ | 2,954,499 |  |  |  |  |
Sales are attributed to countries/regions based upon the plant location from which products are shipped. Long-lived assets are comprised of investments in affiliates, property, plant and equipment, and goodwill and other intangible assets (see Notes 1, 6 and 8).

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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