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Revenue Recognition (Tables)

9 Months Ended

Sep. 28, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Receivables, Contracts Assets and Liabilities from Contracts With Customers

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, 2025						December 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, 2025												December 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 period						86,069						—						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)

Schedule of Disaggregation of Revenue

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, 2025			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	508,058					$	374,048					$	91,550					$	973,656
EMEA			873,751						89,990						15,166						978,907
Canada			4,579						19,687						—						24,266
APAC			23,768						38,778						368						62,914
Other			28,090						62,466						809						91,365
Total			$	1,438,246					$	584,969					$	107,893					$	2,131,108

Three-month period ended September 29, 2024			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	504,236					$	355,492					$	90,483					$	950,211
EMEA			107,143						91,138						15,952						214,233
Canada			3,968						22,969						—						26,937
APAC			24,221						55,888						572						80,681
Other			22,729						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, 2025			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	1,423,239					$	1,104,974					$	240,242					$	2,768,455
EMEA			2,148,101						271,130						44,989						2,464,220
Canada			12,849						64,433						—						77,282
APAC			72,082						111,196						965						184,243
Other			75,601						179,184						1,792						256,577
Total			$	3,731,872					$	1,730,917					$	287,988					$	5,750,777

Nine-month period ended September 29, 2024			Consumer Packaging						Industrial Paper Packaging						All Other						Total
Primary Geographical Markets:
United States			$	1,356,318					$	1,073,073					$	279,783					$	2,709,174
EMEA			313,823						285,266						44,970						644,059
Canada			12,491						73,155						—						85,646
APAC			71,975						166,774						1,284						240,033
Other			72,411						180,644						10,122						263,177
Total			$	1,827,018					$	1,778,912					$	336,159					$	3,942,089

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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