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Revenue Recognition
 9 Months Ended
Sep. 29, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company records revenue when control is transferred to the customer, which is either upon shipment or over time in cases where the Company is entitled to payment with margin for products produced that are customer specific without alternative use. The Company recognizes over time revenue under the input method as goods are produced. Revenue that is recognized at a point in time is recognized when the customer obtains control of the goods. Customers obtain control either when goods are delivered to the customer facility, if the Company is responsible for arranging transportation, or when picked up by the customer’s designated carrier. The Company commonly enters into Master Supply Arrangements with customers to provide goods and/or services over specific time periods. Customers submit purchase orders with quantities and prices to create a contract for accounting purposes. Shipping and handling expenses are included in “Cost of sales,” and freight charged to customers is included in “Net sales” in the Company’s Condensed Consolidated Statements of Income.
The Company has rebate agreements with certain customers. These rebates are recorded as reductions of revenue and are accrued using sales data and rebate percentages specific to each customer agreement. Accrued customer rebates are included in “Accrued expenses and other” in the Company’s Condensed Consolidated Balance Sheets.
Payment terms under the Company’s sales arrangements are short term, generally no longer than 120 days. The Company does provide prompt payment discounts to certain customers if invoices are paid within a predetermined period. Prompt payment discounts are treated as a reduction of estimated revenue and are determinable within a short time period following the sale.
The following table sets forth the effects of contract assets and liabilities from contracts with customers. Contract assets and liabilities are reported in “Other receivables” and “Accrued expenses and other,” respectively, in the Company’s Condensed Consolidated Balance Sheets.
September 29, 2024December 31, 2023
Contract Assets$57,513 $54,334 
Contract Liabilities(26,841)(24,973)
Significant changes in the contract assets and liabilities balances during the nine-month period ended September 29, 2024 and the year ended December 31, 2023 were as follows:
September 29, 2024December 31, 2023
Contract
Asset		Contract
Liability		Contract
Asset		Contract
Liability
Beginning Balance$54,334 $(24,973)$56,008 $(22,423)
Acquired/sold as part of a business combination/divestiture
— 194 — (1,436)
Revenue deferred or rebates accrued— (44,757)— (53,464)
Recognized as revenue10,384 11,761 
Rebates paid to customers— 32,311 — 40,589 
Increases due to rights to consideration for customer specific goods produced, but not billed during the period57,513 — 54,334 — 
Transferred to receivables from contract assets recognized at the beginning of the period and acquired as part of business combinations(54,334)— (56,008)— 
Ending Balance$57,513 $(26,841)$54,334 $(24,973)

Contract assets represent goods produced without alternative use for which the Company is entitled to payment with margin prior to shipment. Upon shipment, the Company is entitled to bill the customer, and therefore amounts included in contract assets will be reduced with the recording of an account receivable as they represent an unconditional right to payment. Contract liabilities represent revenue deferred due to pricing mechanisms utilized by the Company in certain multi-year arrangements, volume rebates, and receipts of advance payments. For multi-year arrangements with pricing mechanisms, the Company will generally defer revenue during the first half of the arrangement and will release the deferral over the second half of the contract term. Contract assets and liabilities are generally short in duration given the nature of products produced by the Company.
The following tables set forth information about revenue disaggregated by primary geographic regions for the three-month periods ended September 29, 2024 and October 1, 2023. The tables also include a reconciliation of disaggregated revenue with reportable segments. The Company’s reportable segments are aligned by product nature as disclosed in Note 16.
Three-month period ended September 29, 2024Consumer PackagingIndustrial Paper PackagingAll OtherTotal
Primary Geographical Markets:
  United States$754,314 $355,492 $90,483 $1,200,289 
  Europe114,943 91,138 15,952 222,033 
  Canada32,969 22,969 — 55,938 
  Asia25,492 55,888 572 81,952 
  Other55,793 59,595 266 115,654 
Total$983,511 $585,082 $107,273 $1,675,866 
Three-month period ended October 1, 2023Consumer PackagingIndustrial Paper PackagingAll OtherTotal
Primary Geographical Markets:
  United States$765,243 $335,136 $122,494 $1,222,873 
  Europe119,511 91,175 14,941 225,627 
  Canada29,268 24,866 — 54,134 
  Asia24,828 59,284 628 84,740 
  Other45,990 69,574 7,481 123,045 
Total$984,840 $580,035 $145,544 $1,710,419 
The following tables set forth information about revenue disaggregated by primary geographic regions for the nine-month periods ended September 29, 2024 and October 1, 2023. The tables also include a reconciliation of disaggregated revenue with reportable segments.
Nine-month period ended September 29, 2024Consumer
Packaging		Industrial
Paper
Packaging		All OtherTotal
Primary Geographical Markets:
  United States$2,129,839 $1,073,073 $279,783 $3,482,695 
  Europe337,435 285,266 44,970 667,671 
  Canada99,166 73,155 — 172,321 
  Asia75,886 166,774 1,284 243,944 
  Other179,491 180,644 10,122 370,257 
Total$2,821,817 $1,778,912 $336,159 $4,936,888 
Nine-month period ended October 1, 2023Consumer PackagingIndustrial Paper PackagingAll OtherTotal
Primary Geographical Markets:
  United States$2,252,111 $1,035,849 $370,605 $3,658,565 
  Europe358,183 300,145 51,001 709,329 
  Canada89,860 76,029 — 165,889 
  Asia73,430 173,903 1,322 248,655 
  Other140,584 195,107 27,363 363,054 
Total$2,914,168 $1,781,033 $450,291 $5,145,492