Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company has three reportable segments as follows:

Paperboard Mills includes the eight North American paperboard mills which produce CRB, CUK, and SBS, which 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, primarily folding cartons, sold primarily to Consumer Packaged Goods ("CPG") companies, and cups, lids and food containers sold primarily to foodservice companies and quick-service restaurants ("QSR"), all serving the food, beverage, and consumer product markets in the Americas.

Europe Paperboard Packaging includes paperboard packaging, primarily 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	2020		2019		2020		2019
NET SALES:
Paperboard Mills	$	240.9	$	279.2	$	744.0	$	833.9
Americas Paperboard Packaging	1,214.8		1,091.1		3,491.9		3,176.6
Europe Paperboard Packaging	193.9		171.0		553.7		522.0
Corporate/Other/Eliminations(a)	48.1		40.3		118.2		107.8
Total	$	1,697.7	$	1,581.6	$	4,907.8	$	4,640.3
(LOSS) INCOME FROM OPERATIONS:
Paperboard Mills	$	(34.4)	$	10.7	$	(92.6)	$	19.2
Americas Paperboard Packaging	140.5		112.2		492.4		363.1
Europe Paperboard Packaging	15.5		8.6		48.2		43.3
Corporate and Other(b)	(2.5)		(8.8)		(54.1)		(24.5)
Total	$	119.1	$	122.7	$	393.9	$	401.1
DEPRECIATION AND AMORTIZATION:
Paperboard Mills	$	63.6	$	54.0	$	189.6	$	162.6
Americas Paperboard Packaging	40.2		39.9		120.3		124.5
Europe Paperboard Packaging	10.6		11.5		29.7		35.1
Corporate and Other	6.1		5.1		16.9		15.6
Total	$	120.5	$	110.5	$	356.5	$	337.8

^(a) Includes revenue from contracts with customers for the Australia and Pacific Rim operating segments.

^(b) Includes expenses related to business combinations, exit activities, idle and abandoned assets and shutdown and other special charges.