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Revenue Recognition (Tables)

9 Months Ended

Sep. 29, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Receivables, Contracts Assets and Liabilities from Contracts With Customers

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, 2024						December 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, 2024												December 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 revenue												10,384												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 period						57,513						—						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)

Schedule of Disaggregation of Revenue

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, 2024			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	754,314					$	355,492					$	90,483					$	1,200,289
Europe			114,943						91,138						15,952						222,033
Canada			32,969						22,969						—						55,938
Asia			25,492						55,888						572						81,952
Other			55,793						59,595						266						115,654
Total			$	983,511					$	585,082					$	107,273					$	1,675,866

Three-month period ended October 1, 2023			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	765,243					$	335,136					$	122,494					$	1,222,873
Europe			119,511						91,175						14,941						225,627
Canada			29,268						24,866						—						54,134
Asia			24,828						59,284						628						84,740
Other			45,990						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, 2024			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	2,129,839					$	1,073,073					$	279,783					$	3,482,695
Europe			337,435						285,266						44,970						667,671
Canada			99,166						73,155						—						172,321
Asia			75,886						166,774						1,284						243,944
Other			179,491						180,644						10,122						370,257
Total			$	2,821,817					$	1,778,912					$	336,159					$	4,936,888

Nine-month period ended October 1, 2023			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	2,252,111					$	1,035,849					$	370,605					$	3,658,565
Europe			358,183						300,145						51,001						709,329
Canada			89,860						76,029						—						165,889
Asia			73,430						173,903						1,322						248,655
Other			140,584						195,107						27,363						363,054
Total			$	2,914,168					$	1,781,033					$	450,291					$	5,145,492

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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- References

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