Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30, 2023	Trade		Intersegment			Total			Operating Income (Loss)
Packaging	$	1,755.2	$	4.6		$	1,759.8		$	256.8		(a)
Paper		157.9		—			157.9			27.6		(a)
Corporate and Other		22.9		40.6			63.5			(25.8	)
Intersegment eliminations		—		(45.2	)		(45.2	)		—
	$	1,936.0	$	—		$	1,936.0			258.6
Non-operating pension expense										(1.8	)
Interest expense, net										(12.3	)
Income before taxes									$	244.5

	Sales, net
Three Months Ended September 30, 2022	Trade		Intersegment			Total			Operating Income (Loss)
Packaging	$	1,935.1	$	5.1		$	1,940.2		$	359.2		(b)
Paper		165.3		—			165.3			26.1		(b)
Corporate and Other		25.5		37.8			63.3			(25.0	)
Intersegment eliminations		—		(42.9	)		(42.9	)		—
	$	2,125.9	$	—		$	2,125.9			360.3
Non-operating pension income										3.6
Interest expense, net										(16.5	)
Income before taxes									$	347.4

	Sales, net
Nine Months Ended September 30, 2023	Trade		Intersegment			Total			Operating Income (Loss)
Packaging	$	5,344.3	$	14.4		$	5,358.7		$	810.5		(a)
Paper		451.6		—			451.6			90.8		(a)
Corporate and Other		68.6		116.5			185.1			(87.7	)
Intersegment eliminations		—		(130.9	)		(130.9	)		—
	$	5,864.5	$	—		$	5,864.5			813.6
Non-operating pension expense										(5.8	)
Interest expense, net										(42.2	)
Income before taxes									$	765.6

	Sales, net
Nine Months Ended September 30, 2022	Trade		Intersegment			Total			Operating Income (Loss)
Packaging	$	5,956.8	$	14.8		$	5,971.6		$	1,141.3		(b)
Paper		468.6		—			468.6			71.2		(b)
Corporate and Other		74.2		110.6			184.8			(79.8	)
Intersegment eliminations		—		(125.4	)		(125.4	)		—
	$	6,499.6	$	—		$	6,499.6			1,132.7
Non-operating pension income										10.9
Interest expense, net										(55.3	)
Income before taxes									$	1,088.3

(a)	The three and nine months ended September 30, 2023 include the following:
	1.	$2.6 million and $8.2 million, respectively, 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.	$0.1 million of income and $13.5 million of charges, respectively, related to the closure of corrugated products facilities and design centers. Included therein are closure costs as well as the gain on sale of a corrugated products facility.
(b)	The three and nine months ended September 30, 2022 include the following:
	1.	$3.9 million and $9.4 million, respectively, 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.	$0.2 million of charges and $0.2 million of income, respectively, consisting of closure costs related to corrugated products facilities and acquisition and integration costs related to the December 2021 Advance Packaging Corporation acquisition, partially offset by a gain on sale of assets related to a corrugated products facility. For the nine months ended September 30, 2022, these costs were offset by insurance proceeds received for a natural disaster at one of the corrugated products facilities and a favorable lease buyout for a closed corrugated products facility.