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Revenue Recognition
 9 Months Ended
Sep. 28, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
The Company records revenue when control is transferred to the customer, which is either upon shipment or over time in cases where the Company is entitled to payment with margin for products produced that are customer specific without alternative use. The Company recognizes over time revenue under the input method as goods are produced. Revenue that is recognized at a point in time is recognized when the customer obtains control of the goods. Customers obtain control either when goods are delivered to the customer facility, if the Company is responsible for arranging transportation, or when picked up by the customer’s designated carrier. The Company commonly enters into Master Supply Arrangements with customers to provide goods and/or services over specific time periods. Customers submit purchase orders with quantities and prices to create a contract for accounting purposes. Shipping and handling expenses are included in “Cost of sales,” and freight charged to customers is included in “Net sales” in the Company’s Condensed Consolidated Statements of Income.
The Company has rebate agreements with certain customers. These rebates are recorded as reductions of revenue and are accrued using sales data and rebate percentages specific to each customer agreement. Accrued customer rebates are included in “Accrued expenses and other payables” in the Company’s Condensed Consolidated Balance Sheets.
Payment terms under the Company’s sales arrangements are short term, generally no longer than 120 days. The Company does provide prompt payment discounts to certain customers if invoices are paid within a predetermined period. Prompt payment discounts are treated as a reduction of estimated revenue and are determinable within a short time period following the sale.
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 payables,” respectively, in the Company’s Condensed Consolidated Balance Sheets.
September 28, 2025December 31, 2024
Contract Assets$86,069 $67,062 
Contract Liabilities(53,323)(60,024)
Significant changes in the contract assets and liabilities balances during the nine-month period ended September 28, 2025 and the year ended December 31, 2024 were as follows:
September 28, 2025December 31, 2024
Contract
Asset		Contract
Liability		Contract
Asset		Contract
Liability
Beginning Balance$67,062 $(60,024)$14,754 $(15,252)
Acquired as part of a business combination— — 62,439 (47,478)
Revenue deferred or rebates accrued— (76,709)— (25,736)
Recognized as revenue— 778 — 2,341 
Rebates paid to customers— 82,063 — 26,101 
Increases due to rights to consideration for customer specific goods produced, but not billed during the period86,069 — 67,062 — 
Transferred to receivables from contract assets recognized at the beginning of the period and acquired as part of business combination(66,999)— (77,193)— 
Reclassified to assets/liabilities held for sale(63)569 — — 
Ending Balance$86,069 $(53,323)$67,062 $(60,024)

Contract assets represent goods produced without alternative use for which the Company is entitled to payment with margin prior to shipment. Upon shipment, the Company is entitled to bill the customer. Therefore, amounts included in contract assets will be reduced with the recording of an account receivable as they represent an unconditional right to payment. Contract liabilities represent revenue deferred due to pricing mechanisms utilized by the Company in certain multi-year arrangements, volume rebates, and receipts of advance payments. For multi-year arrangements with pricing mechanisms, the Company will generally defer revenue during the first half of the arrangement and will release the deferral over the second half of the contract term. Contract assets and liabilities are generally short in duration given the nature of products produced by the Company.
The following tables set forth information about revenue disaggregated by primary geographic regions for the three-month periods ended September 28, 2025 and September 29, 2024. 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 17.
Three-month period ended September 28, 2025Consumer PackagingIndustrial Paper PackagingAll OtherTotal
Primary Geographical Markets:
United States$508,058 $374,048 $91,550 $973,656 
EMEA873,751 89,990 15,166 978,907 
Canada4,579 19,687 — 24,266 
APAC23,768 38,778 368 62,914 
Other28,090 62,466 809 91,365 
Total$1,438,246 $584,969 $107,893 $2,131,108 
Three-month period ended September 29, 2024Consumer PackagingIndustrial Paper PackagingAll OtherTotal
Primary Geographical Markets:
United States$504,236 $355,492 $90,483 $950,211 
EMEA107,143 91,138 15,952 214,233 
Canada3,968 22,969 — 26,937 
APAC24,221 55,888 572 80,681 
Other22,729 59,595 266 82,590 
Total$662,297 $585,082 $107,273 $1,354,652 
The following tables set forth information about revenue disaggregated by primary geographic regions for the nine-month periods ended September 28, 2025 and September 29, 2024. The tables also include a reconciliation of disaggregated revenue with reportable segments.
Nine-month period ended September 28, 2025Consumer PackagingIndustrial Paper PackagingAll OtherTotal
Primary Geographical Markets:
United States$1,423,239 $1,104,974 $240,242 $2,768,455 
EMEA2,148,101 271,130 44,989 2,464,220 
Canada12,849 64,433 — 77,282 
APAC72,082 111,196 965 184,243 
Other75,601 179,184 1,792 256,577 
Total$3,731,872 $1,730,917 $287,988 $5,750,777 
Nine-month period ended September 29, 2024Consumer PackagingIndustrial Paper PackagingAll OtherTotal
Primary Geographical Markets:
United States$1,356,318 $1,073,073 $279,783 $2,709,174 
EMEA313,823 285,266 44,970 644,059 
Canada12,491 73,155 — 85,646 
APAC71,975 166,774 1,284 240,033 
Other72,411 180,644 10,122 263,177 
Total$1,827,018 $1,778,912 $336,159 $3,942,089