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Business Combinations and Asset Acquisitions | 9 Months Ended
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Sep. 30, 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 was final as of May 1, 2025. The purchase price allocation as of May 1, 2025 is as follows:
| May 1, 2024 |  |
| Original Purchase Price Allocation | Measurement Period Adjustments | Final Purchase Price Allocation
Purchase price | $ | 708.2 |  | $ | — |  | $ | 708.2 |
Inventories, net | 102.8 |  | 0.7 |  | 103.5 |
Other current assets | 0.4 |  | (0.1) |  | 0.4 |
Property, plant and equipment | 609.3 |  | 1.0 |  | 610.3 |
Other assets, net | 11.8 |  | — |  | 11.8 |
Total assets acquired | 724.3 |  | 1.6 |  | 725.9 |
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 acquired | 694.5 |  | 0.8 |  | 695.3 |
Goodwill | 13.7 |  | (0.8) |  | 12.9 |
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.
|  | Nine Months Ended September 30,
|  | 2024
Net sales |  | $ | 1,185.3 |
Net income (loss) |  | (16.1) |

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