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Business Combinations and Asset Acquisitions
 3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination Business Acquisition
On May 1, 2024, we completed the acquisition of a paperboard manufacturing facility and associated business, located in Augusta, Georgia (Augusta). The purchase price of the Augusta acquisition was allocated to assets acquired and liabilities based on the fair values as of the date of acquisition.
The purchase price allocation as of March 31, 2025 is as follows:
May 1, 2024
Original Purchase Price AllocationMeasurement Period AdjustmentsUpdated Purchase Price Allocation
Purchase price$708.2 $— $708.2 
Inventories, net102.8 — 102.8 
Other current assets0.4 (0.1)0.4 
Property, plant and equipment609.3 1.0 610.3 
Other assets, net11.8 — 11.8 
Total assets acquired724.3 0.9 725.2 
Current portion of long-term debt(0.6)— (0.6)
Accounts payable and accrued liabilities(7.7)(0.8)(8.5)
Long-term debt(8.9)— (8.9)
Other long-term obligations(12.6)— (12.6)
Total liabilities assumed(29.7)(0.8)(30.5)
Net assets acquired694.5 0.1 694.6 
Goodwill13.7$(0.1)13.6
Total estimated fair value of net assets acquired$708.2 $— $708.2 
The following unaudited pro forma consolidated financial information combines our results and the unaudited results of the Augusta operations had the transaction been completed on January 1, 2024. In addition, these results are not intended to be a projection of future results and do not reflect events that may occur after the Augusta acquisition, including but not limited to revenue enhancements, cost savings or operating synergies that we may achieve as a result of the Augusta acquisition.
Quarter Ended March 31,
2024
Net sales$383.9 
Net income1.3