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Restructuring and Asset Impairments (Tables)

3 Months Ended

Mar. 30, 2025

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Restructuring-Related Asset Impairment Expenses by Type Incurred and by Reportable Segment

Following are the total restructuring and asset impairment charges, net of adjustments, recognized during the periods presented:

												Three Months Ended
																		March 30, 2025						March 31, 2024
Restructuring and restructuring-related asset impairment charges																		$	13,581					$	31,010
Other asset impairments																		—						—
Restructuring/Asset impairment charges																		$	13,581					$	31,010

The table below sets forth restructuring and restructuring-related asset impairment charges by type incurred:

												Three Months Ended
																		March 30, 2025						March 31, 2024
Severance and Termination Benefits																		$	6,998					$	17,791
Asset Impairment/Disposal of Assets																		5,101						8,122
Other Costs																		1,482						5,097
Total restructuring and restructuring-related asset impairment charges																		$	13,581					$	31,010

The table below sets forth restructuring and restructuring-related asset impairment charges attributable to each reportable segment, the All Other group of businesses, and Corporate-related activity:

												Three Months Ended
																		March 30, 2025						March 31, 2024
Consumer Packaging																		$	1,229					$	4,317
Industrial Paper Packaging																		12,535						22,603
All Other																		(32)						1,148
Corporate																		(151)						2,942
Total restructuring and restructuring-related asset impairment charges																		$	13,581					$	31,010

Schedule of Restructuring Accrual Activity

The following table sets forth the activity in the restructuring accrual included in “Accrued expenses and other” in the Company’s Condensed Consolidated Balance Sheets:

						Severance and Termination Benefits						Asset Impairments/ Disposal of Assets						Other Costs						Total
Accrual Activity
Liability at December 31, 2024						$	24,034					$	—					$	909					$	24,943
2025 charges						6,998						5,101						1,482						13,581
Cash (payments)/receipts						(9,271)						10						(1,452)						(10,713)
Asset write downs/disposals						—						(5,111)						—						(5,111)
Foreign currency translation						227						—						274						501
Liability at March 30, 2025						$	21,988					$	—					$	1,213					$	23,201

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- References

No definition available.

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.P.3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.b.2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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