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Acquisitions and divestitures (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Preliminary Fair Value Of Assets Acquired And Measurement Period Adjustments | The Company’s preliminary fair values of the assets acquired and liabilities assumed in the acquisition of Eviosys, are as follows:
|  |  |  |  | Preliminary Allocation
Trade accounts receivable |  |  |  |  | $ | 300,385 |
Other receivables |  |  |  |  | 114,634 |
Inventories |  |  |  |  | 445,945 |
Prepaid expenses |  |  |  |  | 47,509 |
Property, plant and equipment |  |  |  |  | 1,057,779 |
Right of use asset - operating leases |  |  |  |  | 43,566 |
Other intangible assets |  |  |  |  | 1,967,678 |
Goodwill |  |  |  |  | 1,285,518 |
Long-term deferred income taxes |  |  |  |  | 39,023 |
Other assets |  |  |  |  | 3,330 |
Payable to suppliers |  |  |  |  | (518,766) |
Accrued expenses and other |  |  |  |  | (168,529) |
Accrued wages and other compensation |  |  |  |  | (41,749) |
Notes payable and current portion of long-term debt |  |  |  |  | (76,438) |
Noncurrent operating lease liabilities |  |  |  |  | (32,022) |
Pension and other postretirement benefits |  |  |  |  | (51,849) |
Deferred income taxes |  |  |  |  | (599,941) |
Other long-term liabilities |  |  |  |  | (16,714) |
Noncontrolling Interests |  |  |  |  | (9,533) |
Net assets acquired |  |  |  |  | $ | 3,789,826 |
As a result, final fair values reflecting adjustments made during the measurement period are as follows:
| Initial Allocation |  | Measurement Period Adjustments |  | Final Allocation
Trade accounts receivable | $ | 17,488 |  |  | $ | — |  |  | $ | 17,488 |
Inventories | 20,209 |  |  | (947) |  |  | 19,262 |
Prepaid expenses | 2,720 |  |  | (589) |  |  | 2,131 |
Property, plant and equipment | 73,483 |  |  | 753 |  |  | 74,236 |
Right of use asset - operating leases | 34,604 |  |  | 290 |  |  | 34,894 |
Other intangible assets | 199,560 |  |  | (8,995) |  |  | 190,565 |
Goodwill | 92,657 |  |  | 14,909 |  |  | 107,566 |
Other assets | 2,465 |  |  | (412) |  |  | 2,053 |
Payable to suppliers | (7,320) |  |  | — |  |  | (7,320) |
Accrued expenses and other | (12,436) |  |  | (25) |  |  | (12,461) |
Accrued wages and other compensation | (2,731) |  |  | — |  |  | (2,731) |
Notes payable and current portion of long-term debt | (24) |  |  | — |  |  | (24) |
Noncurrent operating lease liabilities | (29,905) |  |  | — |  |  | (29,905) |
Pension and other postretirement benefits | (10,761) |  |  | (768) |  |  | (11,529) |
Long-term debt | (1,942) |  |  | — |  |  | (1,942) |
Deferred income taxes | (3,419) |  |  | (2,502) |  |  | (5,921) |
Other long-term liabilities | (3,293) |  |  | 1,478 |  |  | (1,815) |
Net assets acquired | $ | 371,355 |  |  | $ | 3,192 |  |  | $ | 374,547 |
Schedule Of Proforma Supplemental Information | The following table presents the financial results for Eviosys from December 4, 2024, the date of acquisition, through December 31, 2024:
Supplemental Information |  | December 4 to
Eviosys |  | December 31, 2024
Net sales |  | $ | 115,031 |
Net loss |  | $ | 15,086 |
The following table presents the Company’s pro forma consolidated results for the years ended December 31, 2024 and December 31, 2023, assuming the acquisition of Eviosys had occurred on January 1, 2023. This pro forma information is presented for informational purposes only and does not purport to represent the results of operations that would have been achieved if the acquisition had been completed at the beginning of 2023, nor is it necessarily indicative of future consolidated results.
Pro Forma Supplemental Information |  |  | Years Ended
Consolidated |  |  |  | December 31, 2024 | December 31, 2023
Net sales |  |  |  | $ | 7,546,920 |  | $ | 8,032,135 |
Net income from continuing operations |  |  |  | $ | 159,926 |  | $ | 112,963 |
Net income attributable to Sonoco 1 |  |  |  | $ | 255,800 |  | $ | 208,436 |
1 Includes results of discontinued operations The following table presents the financial results for Metal Packaging from the date of acquisition through December 31, 2022:
Supplemental Information |  | January 26 to
Metal Packaging |  | December 31, 2022
Net sales |  | $ | 1,035,020 |
Net income |  | $ | 62,777 |
The following table presents the Company’s pro forma consolidated results for the year ended December 31, 2022, assuming the acquisition of Metal Packaging had occurred on January 1, 2021. This pro forma information is presented for informational purposes only and does not purport to represent the results of operations that would have been achieved if the acquisition had been completed at the beginning of 2021, nor is it necessarily indicative of future consolidated results.
Pro Forma Supplemental Information | Year Ended
Consolidated | December 31, 2022
Net sales | $ | 5,908,915 |
Net income from continuing operations | $ | 440,791 |
Net income attributable to Sonoco 1 | $ | 528,818 |
1 Includes results of discontinued operations
Summary of the Purchase Consideration Transferred for the Acquisitions | The following table provides a summary of the purchase consideration (as defined under ASC 805) transferred for the acquisition of the remaining interest in RTS Packaging and the acquisition of the Chattanooga Mill:
| Purchase Consideration
Cash consideration, net of cash acquired | $ | 313,388 |
Fair value of previously held interest in RTS Packaging | 59,472 |
Final working capital settlement | 452 |
Settlement of preexisting relationships | 1,235 |
Purchase consideration transferred | $ | 374,547 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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