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Restructuring and Asset Impairments (Tables)

9 Months Ended

Sep. 28, 2025

Restructuring and Related Activities [Abstract]

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

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

						Three Months Ended												Nine Months Ended
						September 28, 2025						September 29, 2024						September 28, 2025						September 29, 2024
Restructuring and restructuring-related asset impairment charges						$	48,388					$	6,149					$	71,721					$	55,122
Other asset impairments						—						—						—						—
Restructuring/Asset impairment charges						$	48,388					$	6,149					$	71,721					$	55,122

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

						Three Months Ended												Nine Months Ended
						September 28, 2025						September 29, 2024						September 28, 2025						September 29, 2024
Severance and Termination Benefits						$	37,865					$	1,378					$	51,230					$	24,649
Asset Impairment/Disposal of Assets						5,074						2,268						11,556						21,288
Other Costs						5,449						2,503						8,935						9,185
Total restructuring and restructuring-related asset impairment charges						$	48,388					$	6,149					$	71,721					$	55,122

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												Nine Months Ended
						September 28, 2025						September 29, 2024						September 28, 2025						September 29, 2024
Consumer Packaging						$	34,885					$	2,468					$	37,623					$	16,661
Industrial Paper Packaging						11,323						3,798						32,092						34,138
All Other						—						—						(16)						1,362
Corporate						2,180						(117)						2,022						2,961
Total restructuring and restructuring-related asset impairment charges						$	48,388					$	6,149					$	71,721					$	55,122

Schedule of Restructuring Accrual Activity

The following table sets forth the activity in the restructuring accrual included in “Accrued expenses and other payables” 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						51,230						11,556						8,935						71,721
Cash (payments)/receipts						(27,023)						4,295						(6,122)						(28,850)
Asset write downs/disposals						—						(15,851)						—						(15,851)
Foreign currency translation						842						—						324						1,166
Liability at September 28, 2025						$	49,083					$	—					$	4,046					$	53,129

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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

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-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (SAB Topic 5.P.4)
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-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
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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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