XML 34 R24.htm IDEA: XBRL DOCUMENT
v3.25.2

Segment Reporting | 6 Months Ended
--- | ---
Jun. 29, 2025
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company’s operating and reporting structure consists of two reportable segments, Consumer Packaging and Industrial Paper Packaging, with all remaining businesses reported as All Other. The products produced and sold within the Consumer Packaging segment are generally used to package a variety of consumer products and consist primarily of round and shaped rigid paper, steel and plastic containers; and metal and peelable membrane ends, closures, and components. The primary products produced and sold within the Industrial Paper Packaging segment include paperboard tubes, cones, and cores; paper-based protective packaging; and uncoated recycled paperboard. The primary products produced within the All Other group of businesses consist of a variety of packaging materials, including plastic, paper, foam, and various other specialty materials. The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The CODM assesses segment performance and allocates resources to each segment by using each segment’s operating profit. The CODM uses operating profit for each segment in the annual budgeting and forecasting process and reviews segment operating profit quarterly when making decisions about allocating capital and operating resources to segments. Disaggregated assets by segment are not disclosed since segment assets are not regularly provided to the CODM. Segment operating profit viewed by the Company to evaluate segment performance does not include the following: restructuring/asset impairment charges; amortization of acquisition intangibles; gains/losses from the sale of businesses or other assets; acquisition, integration and divestiture-related costs; changes in last-in, first-out (“LIFO”) inventory reserves; derivative gains/losses; or certain other items, if any, the exclusion of which the Company’s management believes improves the comparability and analysis of the ongoing operating performance of the business. All other general corporate expenses have been allocated as operating costs to each of the Company’s reportable segments and the All Other group of businesses, except for costs related to discontinued operations. 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.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration