Segments of Business

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Segments of Business

Segments of Business

The Company's business activities are organized around and aggregated into three principal business segments based on their similar economic characteristics, products, production process, types of customers, and distribution methods. Both internal and external reporting conforms to this organizational structure, with no significant differences in accounting policies applied. Minor intersegment sales are generally priced to reflect nominal markups. The Company evaluates the performance of its segments and allocates resources to them based primarily on operating profit, which is defined as profit before general corporate expense, interest expense, other non-operating (income) expense, income taxes, and noncontrolling interests.

A summary of the Company’s business activities reported by its three business segments follows:

	Three Months Ended March 31,
Business Segments (in millions)	2013			2012
Sales including intersegment sales:
U.S. Packaging	$	753.0		$	770.6
Global Packaging	374.3			398.7
Pressure Sensitive Materials	140.8			145.5
Intersegment sales:
U.S. Packaging	(7.0		)	(5.5		)
Global Packaging	(5.8		)	(4.3		)
Pressure Sensitive Materials	(0.3		)	(0.2		)
Total net sales	$	1,255.0		$	1,304.8
U.S. Packaging
Operating profit before facility consolidation and other costs	$	95.4		$	89.6
Facility consolidation and other costs	(9.4		)	(7.6		)
Operating profit	86.0			82.0
Global Packaging
Operating profit before facility consolidation and other costs	25.8			26.6
Facility consolidation and other costs	0.1			(0.7		)
Operating profit	25.9			25.9
Pressure Sensitive Materials
Operating profit	7.7			9.7
Corporate
General corporate expenses	(27.5		)	(29.1		)
Operating income	92.1			88.5
Interest expense	(16.6		)	(20.5		)
Other non-operating income (expense)	(4.1		)	(0.1		)
Income from continuing operations before income taxes	$	71.4		$	67.9

Business Segments (in millions)	March 31, 2013		December 31, 2012
Total assets:
U.S. Packaging	$	2,171.6	$	2,100.7
Global Packaging	1,459.5		1,425.4
Pressure Sensitive Materials	329.6		325.5
Total identifiable assets (1)	3,960.7		3,851.6
Corporate assets (2)	344.7		334.1
Total	$	4,305.4	$	4,185.7

(1)    Total assets by business segment include only those assets that are specifically identified with each segment’s operations.

(2)  Corporate assets are principally cash and cash equivalents, prepaid expenses, prepaid income taxes, prepaid pension benefit costs, and corporate tangible and intangible property.