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Segments (Tables)
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Net Sales and Adjusted EBITDA by Reportable Segments The following tables show Net Sales and Segment Adjusted EBITDA by reportable segment:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2021202020212020
Net Sales:    
Food$736.7 $673.2 $1,438.9 $1,363.5 
As a % of Total Company net sales55.5 %58.5 %55.4 %58.6 %
Protective591.8 478.0 1,156.7 961.6 
As a % of Total Company net sales44.5 %41.5 %44.6 %41.4 %
Total Company Net Sales$1,328.5 $1,151.2 $2,595.6 $2,325.1 
 
 Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2021202020212020
Segment Adjusted EBITDA:    
Food Adjusted EBITDA$158.1 $169.1 $315.0 $325.4 
Food Adjusted EBITDA Margin21.5 %25.1 %21.9 %23.9 %
Protective Adjusted EBITDA107.3 91.5 217.2 184.3 
Protective Adjusted EBITDA Margin18.1 %19.1 %18.8 %19.2 %
Segment Adjusted EBITDA$265.4 $260.6 $532.2 $509.7 
Reconciliation of Net Earning (Loss) to Total Company Adjusted EBITDA
The following table shows a reconciliation of Segment Adjusted EBITDA to Earnings before income tax provision:

Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2021202020212020
Food Adjusted EBITDA$158.1 $169.1 $315.0 $325.4 
Protective Adjusted EBITDA107.3 91.5 217.2 184.3 
Corporate Adjusted EBITDA(2.3)(0.7)(0.9)3.4 
Interest expense, net(42.1)(43.3)(85.2)(87.7)
Depreciation and amortization(1)
(58.2)(53.4)(115.1)(104.9)
Special Items:
Restructuring charges(2)
(2.1)(10.1)(2.1)(10.7)
Other restructuring associated costs(3)
(4.8)(3.8)(10.1)(7.8)
Foreign currency exchange loss due to highly inflationary economies(0.6)(1.2)(2.0)(2.1)
Charges related to acquisition and divestiture activity(0.8)(1.2)(1.1)(4.1)
Other Special Items(0.1)(2.0)(0.9)(3.7)
Pre-tax impact of Special Items(8.4)(18.3)(16.2)(28.4)
Earnings before income tax provision$154.4 $144.9 $314.8 $292.1 
(1)Depreciation and amortization by segment were as follows:

Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2021202020212020
Food$32.7 $30.2 $64.4 $59.2 
Protective25.5 23.2 50.7 45.7 
Total Company depreciation and amortization(i)
$58.2 $53.4 $115.1 $104.9 
(i)    Includes share-based incentive compensation of $12.3 million and $23.8 million for the three and six months ended June 30, 2021, respectively, and $10.5 million and $19.0 million for the three and six months ended June 30, 2020, respectively.
(2)Restructuring charges by segment were as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2021202020212020
Food$1.3 $4.9 $1.1 $5.2 
Protective0.8 5.2 1.0 5.5 
Total Company restructuring charges$2.1 $10.1 $2.1 $10.7 
(3)Restructuring associated costs for the three months ended June 30, 2021 primarily relate to fees paid to third-party consultants in support of the Reinvent SEE business transformation. Restructuring associated costs for the six months ended June 30, 2021 also includes a one-time, non-cash cumulative translation adjustment loss (CTA) recognized due to the wind-up of one of our legal entities. Restructuring associated costs for the three and six months ended June 30, 2020, primarily relate to fees paid to third-party consultants in support of the Reinvent SEE business transformation.
Assets by Reportable Segments
The following table shows assets allocated by reportable segment. Assets allocated by reportable segment include: trade receivables, net; inventory, net; property and equipment, net; goodwill; intangible assets, net; and leased systems, net.

(In millions)June 30, 2021December 31, 2020
Assets allocated to segments:  
Food$2,147.1 $2,019.1 
Protective2,891.7 2,795.4 
Total segments5,038.8 4,814.5 
Assets not allocated:
Cash and cash equivalents$273.1 $548.7 
Assets held for sale— 0.3 
Income tax receivables30.6 71.2 
Other receivables86.3 69.5 
Deferred taxes179.3 187.1 
Other398.5 392.5 
Total$6,006.6 $6,083.8