Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

in the carrying amount of our goodwill were as follows (dollars in millions):

	Goodwill
Balance at January 1, 2021	$	863.5
Acquisition (a)		60.0
Balance at December 31, 2021		923.5
Acquisition adjustment (b)		(1.0	)
Adjustment related to sale of corrugated assets (c)		(0.1	)
Balance at December 31, 2022	$	922.4

(a)In connection with the December 2021 acquisition of Advance Packaging, the Company recorded $60.0 million of goodwill in the Packaging segment.

(b)During 2022, the Company recorded a $1.0 million adjustment to decrease the goodwill balance for the Company's December 2021 acquisition of Advance Packaging.

(c)During 2022, a corrugated products facility sold part of its operations, which primarily included existing inventory. As a result, the Company recorded a $0.1 million adjustment to decrease the goodwill balance.

See Note 5, Acquisitions, for more information on the December 2021 acquisition of Advance Packaging.

Components of Intangible Assets

The weighted average useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions):

	As of December 31, 2022						As of December 31, 2021
	Weighted Average Remaining Useful Life (in Years)		Gross Carrying Amount		Accumulated Amortization		Weighted Average Remaining Useful Life (in Years)		Gross Carrying Amount		Accumulated Amortization
Customer relationships (d)		8.2	$	546.0	$	290.9		8.5	$	551.1	$	254.9
Trademarks and trade names (d)		7.2		41.3		28.6		8.4		37.6		25.5
Other (d)		3.4		4.4		4.3		2.2		4.4		4.3
Total intangible assets (excluding goodwill)		8.1	$	591.7	$	323.8		8.5	$	593.1	$	284.7

(d)In connection with the December 2021 acquisition of Advance Packaging, the Company recorded intangible assets of $47.3 million for customer relationships, $2.8 million for trade names, and $0.1 million for other intangibles. During 2022, the Company made a $1.4 million net adjustment based on the final valuation received for the intangible assets. This adjustment resulted in a revision to the original allocations for customer relationships and trade names. As of December 31, 2022, the revised allocations for customer relationships and trade names were $42.2 million and $6.5 million, respectively.