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v3.25.2

Segment Reporting (Tables) | 6 Months Ended
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Jun. 29, 2025
Segment Reporting [Abstract] |
Schedule of Segment Financial Information | The following table sets forth financial information about each of the Company’s reportable segments:
SEGMENT FINANCIAL INFORMATION
Three-month period ended June 29, 2025 |  | Consumer Packaging |  | Industrial Paper Packaging |  | Total Reportable Segments |  |  |  |  |
Sales from external customers |  | $ | 1,227,033 |  |  | $ | 588,239 |  |  | $ | 1,815,272 |  |  |  |  |  |
Intersegment sales(1) |  | 2,548 |  |  | 26,522 |  |  | 29,070 |  |  |  |  |  |
|  | 1,229,581 |  |  | 614,761 |  |  | 1,844,342 |  |  |  |  |  |
Reconciliation of sales |  |  |  |  |  |  |  |  |  |  |
Other sales(2) |  |  |  |  |  | 96,341 |  |  |  |  |  |
Elimination of intersegment sales |  |  |  |  |  | (30,242) |  |  |  |  |  |
Total consolidated sales |  |  |  |  |  | 1,910,441 |  |  |  |  |  |
Less:(3) |  |  |  |  |  |  |  |  |  |  |
Cost of sales(4) |  | (989,484) |  |  | (442,971) |  |  |  |  |  |  |  |
Other segment items(5) |  | (79,744) |  |  | (90,559) |  |  |  |  |  |  |  |
Segment operating profit |  | $ | 160,353 |  |  | $ | 81,231 |  |  | $ | 241,584 |  |  |  |  |  |
Other segment disclosures: |  |  |  |  |  |  |  |  |  |  |
Equity in earnings of affiliates, net of tax |  | $ | 170 |  |  | $ | 2,100 |  |  |  |  |  |  |  |
Depreciation and amortization(6) |  | $ | 52,801 |  |  | $ | 29,838 |  |  |  |  |  |  |  |
Three-month period ended June 30, 2024 |  | Consumer Packaging |  | Industrial Paper Packaging |  | Total Reportable Segments
Sales from external customers |  | $ | 583,051 |  |  | $ | 600,770 |  |  | $ | 1,183,821 |
Intersegment sales(1) |  | 2,050 |  |  | 26,887 |  |  | 28,937 |
|  | 585,101 |  |  | 627,657 |  |  | 1,212,758 |
Reconciliation of sales |  |  |  |  |  |
Other sales(2) |  |  |  |  |  | 96,839 |
Elimination of intersegment sales |  |  |  |  |  | (30,796) |
Total consolidated sales |  |  |  |  |  | 1,278,801 |
Less:(3) |  |  |  |  |  |
Cost of sales(4) |  | (462,567) |  |  | (466,337) |  |  |
Other segment items(5) |  | (48,778) |  |  | (94,362) |  |  |
Segment operating profit |  | $ | 73,756 |  |  | $ | 66,958 |  |  | $ | 140,714 |
Other segment disclosures: |  |  |  |  |  |
Equity in earnings of affiliates, net of tax |  | $ | 35 |  |  | $ | 2,239 |  |  |
Depreciation and amortization(6) |  | $ | 25,232 |  |  | $ | 28,641 |  |  |
Six-month period ended June 29, 2025 |  | Consumer Packaging |  | Industrial Paper Packaging |  | Total Reportable Segments
Sales from external customers |  | $ | 2,293,626 |  |  | $ | 1,145,948 |  |  | $ | 3,439,574 |
Intersegment sales(1) |  | 5,317 |  |  | 53,537 |  |  | 58,854 |
|  | 2,298,943 |  |  | 1,199,485 |  |  | 3,498,428 |
Reconciliation of sales |  |  |  |  |  |
Other sales(2) |  |  |  |  |  | 182,630 |
Elimination of intersegment sales |  |  |  |  |  | (61,389) |
Total consolidated sales |  |  |  |  |  | 3,619,669 |
Less:(3) |  |  |  |  |  |
Cost of sales(4) |  | (1,843,216) |  |  | (864,954) |  |  |
Other segment items(5) |  | (154,603) |  |  | (182,176) |  |  |
Segment operating profit |  | $ | 301,124 |  |  | $ | 152,355 |  |  | $ | 453,479 |
Other segment disclosures: |  |  |  |  |  |
Equity in earnings of affiliates, net of tax |  | $ | 119 |  |  | $ | 4,072 |  |  |
Depreciation and amortization(6) |  | $ | 101,756 |  |  | $ | 58,171 |  |  |
Six-month period ended June 30, 2024 |  | Consumer Packaging |  | Industrial Paper Packaging |  | Total Reportable Segments
Sales from external customers |  | $ | 1,164,721 |  |  | $ | 1,193,830 |  |  | $ | 2,358,551 |
Intersegment sales(1) |  | 3,824 |  |  | 55,304 |  |  | 59,128 |
|  | 1,168,545 |  |  | 1,249,134 |  |  | 2,417,679 |
Reconciliation of sales |  |  |  |  |  |
Other sales(2) |  |  |  |  |  | 232,536 |
Elimination of intersegment sales |  |  |  |  |  | (62,778) |
Total consolidated sales |  |  |  |  |  | 2,587,437 |
Less:(3) |  |  |  |  |  |
Cost of sales(4) |  | (942,057) |  |  | (925,471) |  |  |
Other segment items(5) |  | (94,165) |  |  | (190,861) |  |  |
Segment operating profit |  | $ | 132,323 |  |  | $ | 132,802 |  |  | $ | 265,125 |
Other segment disclosures: |  |  |  |  |  |
Equity in earnings of affiliates, net of tax |  | $ | 47 |  |  | $ | 3,364 |  |  |
Depreciation and amortization(6) |  | $ | 50,129 |  |  | $ | 57,144 |  |  |
(1) | Intersegment sales are recorded at a market-related transfer price.
(2) | Sales from businesses below the quantitative threshold are attributable to the group of businesses within All Other.
(3) | The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(4) | Cost of sales of reportable segments excludes certain costs, primarily changes in LIFO inventory reserves, net gains or losses from derivatives, and acquisition, integration and divestiture-related costs.
(5) | Other segment items consists of:
| Consumer Packaging: Labor and benefits, consulting and professional services, travel, communication, facilities and supplies. Industrial Paper Packaging: Labor and benefits, consulting and professional services, travel, communication, facilities and supplies.
(6) | Represents significant segment expenses that are regularly provided to the CODM and are included in cost of sales and other segment items within segment operating profit.
The following table sets forth the reconciliation of segment operating profit to “Income from continuing operations before income taxes” for the periods presented.
| Three Months Ended |  |  | Six Months Ended
| June 29, 2025 |  | June 30, 2024 |  |  | June 29, 2025 |  |  |  | June 30, 2024
Segment operating profit | $ | 241,584 |  |  | $ | 140,714 |  |  |  | $ | 453,479 |  |  |  |  | $ | 265,125 |
Other operating profits(1) | 13,109 |  |  | 13,865 |  |  |  | 25,035 |  |  |  |  | 30,990 |
Unallocated amounts: |  |  |  |  |  |  |  |  |  |
Restructuring/Asset impairment charges | (9,752) |  |  | (17,963) |  |  |  | (23,333) |  |  |  |  | (48,973) |
Amortization of acquisition intangibles | (44,193) |  |  | (17,479) |  |  |  | (86,154) |  |  |  |  | (35,373) |
(Loss)/Gain from divestiture of business | (2,083) |  |  | 4,478 |  |  |  | (6,266) |  |  |  |  | 4,478 |
Acquisition, integration and divestiture-related costs | (11,161) |  |  | (22,092) |  |  |  | (38,427) |  |  |  |  | (27,596) |
Changes in LIFO inventory reserves | (1,193) |  |  | 1,418 |  |  |  | (1,755) |  |  |  |  | 987 |
Derivative (losses)/gains | (2,154) |  |  | 3,485 |  |  |  | 795 |  |  |  |  | 3,771 |
Other corporate costs(2) | (7,755) |  |  | (12,634) |  |  |  | (18,853) |  |  |  |  | (23,722) |
Other operating (charges)/income, net(3) | (735) |  |  | 2,019 |  |  |  | (1,994) |  |  |  |  | (1,304) |
Other (expenses)/income, net(4) | (6,559) |  |  | 5,867 |  |  |  | (13,076) |  |  |  |  | 5,867 |
Non-operating pension costs | (2,982) |  |  | (4,170) |  |  |  | (6,103) |  |  |  |  | (7,465) |
Interest expense | (64,367) |  |  | (28,674) |  |  |  | (120,394) |  |  |  |  | (58,838) |
Interest income | 4,122 |  |  | 3,059 |  |  |  | 11,470 |  |  |  |  | 6,192 |
Income from continuing operations before income taxes | $ | 105,881 |  |  | $ | 71,893 |  |  |  | $ | 174,424 |  |  |  |  | $ | 114,139 |
(1) | Operating profit from segments below the quantitative threshold are attributable to the group of businesses within All Other.
(2) | Other corporate costs represent recurring operating expenses previously allocated to TFP that will remain with Sonoco subsequent to the divestiture.
(3) | Primarily consists of highly inflationary accounting in Turkey and other miscellaneous charges in both 2025 and 2024.
(4) | In 2025, these expenses relate to charges from third-party financial institutions related to the Company’s centralized treasury program under which the Company sells certain trade accounts receivables in order to accelerate its cash collection cycle, primarily within the Consumer Packaging segment. In 2024, the income related primarily to the fair value remeasurement of an equity investment.
The following table sets forth the reconciliation of other segment disclosures to consolidated totals for the periods presented.
| Three Months Ended |  | Six Months Ended
| June 29, 2025 |  | June 30, 2024 |  | June 29, 2025 |  | June 30, 2024
Equity in earnings of affiliates, net of tax |  |  |  |  |  |  |
Consumer Packaging | $ | 170 |  |  | $ | 35 |  |  | $ | 119 |  |  | $ | 47 |
Industrial Paper Packaging | 2,100 |  |  | 2,239 |  |  | 4,072 |  |  | 3,364 |
Reportable Segment Total | 2,270 |  |  | 2,274 |  |  | 4,191 |  |  | 3,411 |
Adjustments | — |  |  | — |  |  | — |  |  | — |
Consolidated Total | $ | 2,270 |  |  | $ | 2,274 |  |  | $ | 4,191 |  |  | $ | 3,411 |
Depreciation and amortization |  |  |  |  |  |  |
Consumer Packaging | $ | 52,801 |  |  | $ | 25,232 |  |  | $ | 101,756 |  |  | $ | 50,129 |
Industrial Paper Packaging | 29,838 |  |  | 28,641 |  |  | 58,171 |  |  | 57,144 |
Reportable Segment Total | 82,639 |  |  | 53,873 |  |  | 159,927 |  |  | 107,273 |
Other(1) | 46,836 |  |  | 20,196 |  |  | 91,351 |  |  | 41,742 |
Consolidated Total | $ | 129,475 |  |  | $ | 74,069 |  |  | $ | 251,278 |  |  | $ | 149,015 |
(1) | Other represents depreciation and amortization expense for the All Other group of businesses and total amortization of acquisition intangibles for Sonoco, excluding discontinued operations.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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