SEGMENT INFORMATION

Effective January 5, 2017, the consumer product and beverage operating segments (previously combined into the Americas Paperboard Packaging reporting segment) were reorganized and combined into an Americas Converting operating segment (Americas Paperboard Packaging reportable segment). As part of this reorganization, Australia, which was previously included as part of the Americas Paperboard Packaging reporting segment, is now an operating segment and included in Corporate/Other/Elimination. Prior periods have been recast.

The Company has three reportable segments as follows:

Paperboard Mills includes the seven North American paperboard mills which produce primarily CUK and CRB. The majority of the paperboard is consumed internally to produce paperboard packaging for the Americas and Europe Paperboard Packaging segments. The remaining paperboard is sold externally to a wide variety of paperboard packaging converters and brokers. The Paperboard Mills segment Net Sales represent the sale of paperboard only to external customers. The effect of intercompany transfers to the paperboard packaging segments has been eliminated from the Paperboard Mills segment to reflect the economics of the integration of these segments.

Americas Paperboard Packaging includes paperboard packaging folding cartons sold primarily to Consumer Packaged Goods ("CPG") companies serving the food, beverage, and consumer product markets in the Americas.

Europe Paperboard Packaging includes paperboard packaging folding cartons sold primarily to CPG companies serving the food, beverage and consumer product markets in Europe.

The Company allocates certain mill and corporate costs to the reportable segments to appropriately represent the economics of these segments. The Corporate and Other caption includes the Pacific Rim and Australia operating segments and unallocated corporate and one-time costs.

These segments are evaluated by the chief operating decision maker based primarily on Income from Operations, as adjusted for depreciation and amortization. The accounting policies of the reportable segments are the same as those described above in "Note 1 - General Information."

Segment information is as follows:



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
In millions	2017			2016			2017			2016
NET SALES:
Paperboard Mills	$	105.1		$	95.6		$	300.1		$	293.9
Americas Paperboard Packaging	833.2			821.5			2,438.7			2,416.9
Europe Paperboard Packaging	152.6			142.1			431.0			435.3
Corporate/Other/Eliminations	46.7			44.5			124.0			94.8
Total	$	1,137.6		$	1,103.7		$	3,293.8		$	3,240.9

INCOME (LOSS) FROM OPERATIONS:
Paperboard Mills	$	(13.4	)	$	(2.5	)	$	(36.0	)	$	(2.0	)
Americas Paperboard Packaging	101.3			100.7			281.2			314.1
Europe Paperboard Packaging	10.2			6.9			26.2			25.3
Corporate and Other	(2.7		)	—			(12.9		)	(19.5		)
Total	$	95.4		$	105.1		$	258.5		$	317.9

DEPRECIATION AND AMORTIZATION:
Paperboard Mills	$	39.5		$	29.6		$	101.3		$	90.3
Americas Paperboard Packaging	31.6			34.5			91.3			94.2
Europe Paperboard Packaging	10.4			10.4			30.3			31.0
Corporate and Other	5.5			3.7			14.3			8.6
Total	$	87.0		$	78.2		$	237.2		$	224.1

For more information regarding the Company’s business segments, see “Note 14 — Business Segment and Geographic Area Information” of the Notes to Consolidated Financial Statements of the Company’s 2016 Form 10-K.