Goodwill and Identifiable Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill Balances by Segment Reporting Structure

The following table shows our goodwill balances by reportable segment: 

(In millions)	Food		Protective		Total
Gross Carrying Value at December 31, 2018	$	568.9	$	1,568.9	$	2,137.8
Accumulated impairment	(49.2)		(141.0)		(190.2)
Carrying Value at December 31, 2018	$	519.7	$	1,427.9	$	1,947.6
Acquisition, purchase price and other adjustments	6.3		257.0		263.3
Currency translation	2.0		4.1		6.1
Gross Carrying Value at December 31, 2019	$	577.2	$	1,830.0	$	2,407.2
Accumulated impairment	(49.3)		(141.0)		(190.3)
Carrying Value at December 31, 2019	$	527.9	$	1,689.0	$	2,216.9
Acquisition, purchase price and other adjustments	—		(5.3)		(5.3)
Currency translation	2.5		8.9		11.4
Gross Carrying Value at December 31, 2020	$	579.7	$	1,833.6	$	2,413.3
Accumulated impairment(1)	(49.5)		(141.2)		(190.7)
Carrying Value at December 31, 2020	$	530.2	$	1,692.4	$	2,222.6

(1)    The change in accumulated impairment from December 31, 2019 to December 31, 2020 is due to the impact of foreign currency translation.

Summary of Identifiable Intangible Assets with Definite and Indefinite Useful Lives

The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives: 

	December 31, 2020						December 31, 2019
(In millions)	Gross Carrying Value		Accumulated Amortization		Net		Gross Carrying Value		Accumulated Amortization		Net
Customer relationships	$	105.2	$	(37.2)	$	68.0	$	102.0	$	(30.5)	$	71.5
Trademarks and tradenames	31.3		(8.5)		22.8		31.1		(4.3)		26.8
Software	104.7		(69.7)		35.0		95.3		(62.8)		32.5
Technology	66.7		(33.0)		33.7		66.8		(27.2)		39.6
Contracts	13.6		(11.0)		2.6		13.2		(10.4)		2.8
Total intangible assets with definite lives	321.5		(159.4)		162.1		308.4		(135.2)		173.2
Trademarks and tradenames with indefinite lives	8.9		—		8.9		8.9		—		8.9
Total identifiable intangible assets, net	$	330.4	$	(159.4)	$	171.0	$	317.3	$	(135.2)	$	182.1

Remaining Estimated Future Amortization Expense

The following table shows the estimated future amortization expense at December 31, 2020. 

Year	Amount (in millions)
2021	$	35.4
2022	26.1
2023	19.8
2024	14.3
2025	14.1
Thereafter	52.4
Total	$	162.1

Remaining Weighted Average Useful Life of Definite Lived Intangible Assets

The following table shows the remaining weighted average useful life of our definite lived intangible assets as of December 31, 2020. 

	Remaining weighted average useful lives
Customer relationships	11.7
Trademarks and trade names	9.1
Technology	4.1
Contracts	6.4
Total identifiable intangible assets, net with definite lives	8.0