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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information by Segment

Selected financial information by reportable segment was as follows (dollars in millions):

 

 

 

Sales, net

 

 

 

 

 

Three Months Ended March 31, 2022

 

Trade

 

 

Intersegment

 

 

Total

 

 

Operating Income (Loss)

 

 

Packaging

 

$

1,960.0

 

 

$

4.5

 

 

$

1,964.5

 

 

$

362.2

 

(a)

Paper

 

 

153.5

 

 

 

—

 

 

 

153.5

 

 

 

22.4

 

(a)

Corporate and Other

 

 

22.9

 

 

 

35.4

 

 

 

58.3

 

 

 

(28.1

)

 

Intersegment eliminations

 

 

—

 

 

 

(39.9

)

 

 

(39.9

)

 

 

—

 

 

 

 

$

2,136.4

 

 

$

—

 

 

$

2,136.4

 

 

 

356.5

 

 

Non-operating pension income

 

 

 

 

 

 

 

 

 

 

 

3.6

 

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

(19.8

)

 

Income before taxes

 

 

 

 

 

 

 

 

 

 

$

340.3

 

 

 

 

 

 

Sales, net

 

 

 

 

 

Three Months Ended March 31, 2021

 

Trade

 

 

Intersegment

 

 

Total

 

 

Operating Income (Loss)

 

 

Packaging

 

$

1,619.8

 

 

$

3.8

 

 

$

1,623.6

 

 

$

257.9

 

(b)

Paper

 

 

164.4

 

 

 

0.2

 

 

 

164.6

 

 

 

8.7

 

(b)

Corporate and Other

 

 

23.0

 

 

 

32.4

 

 

 

55.4

 

 

 

(28.3

)

 

Intersegment eliminations

 

 

—

 

 

 

(36.4

)

 

 

(36.4

)

 

 

—

 

 

 

 

$

1,807.2

 

 

$

—

 

 

$

1,807.2

 

 

 

238.3

 

 

Non-operating pension income

 

 

 

 

 

 

 

 

 

 

 

4.8

 

 

Interest expense, net

 

 

 

 

 

 

 

 

 

 

 

(23.5

)

 

Income before taxes

 

 

 

 

 

 

 

 

 

 

$

219.6

 

 

 

(a)

The three months ended March 31, 2022 include the following:

 

1.

$1.5 million of charges related to the announced discontinuation of production of UFS paper grades on the No. 3

machine at the Jackson, Alabama mill associated with the permanent conversion of the machine to produce linerboard and other

paper-to-containerboard conversion related activities.

 

2.

$0.6 million of charges consisting of closure costs related to corrugated products facilities and acquisition and integration costs

related to the December 2021 Advance Packaging Corporation acquisition.

 

 

 

(b)

The three months ended March 31, 2021 include the following:

 

1.

$2.1 million of charges consisting of closure costs related to corrugated products facilities.

 

2.

$1.1 million of charges related to the announced discontinuation of UFS paper grades on the No. 3 machine at the Jackson, Alabama mill in the first quarter of 2021 associated with the permanent conversion of the machine to produce linerboard and other paper-to-containerboard conversion related activities.