Segment Reporting

9 Months Ended

Sep. 29, 2019

The Company reports its financial results in four reportable segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions.

The Consumer Packaging segment includes the following products and services: round and shaped rigid containers and trays (both composite and thermoformed plastic); extruded and injection-molded plastic products; printed flexible packaging; global brand artwork management; and metal and peelable membrane ends and closures.

The Display and Packaging segment includes the following products and services: designing, manufacturing,

assembling, packing and distributing temporary, semi-permanent and permanent point-of-purchase displays; supply chain management services, including contract packing, fulfillment and scalable service centers; retail packaging, including printed backer cards, thermoformed blisters and heat sealing equipment; and paper amenities, such as coasters and glass covers.

The Paper and Industrial Converted Products segment includes the following products: paperboard tubes, cones, and cores; fiber-based construction tubes; wooden, metal and composite wire and cable reels and spools; and recycled paperboard, linerboard, corrugating medium, recovered paper and material recycling services.

The Protective Solutions segment includes the following products: custom-engineered, paperboard-based and expanded foam protective packaging and components; and temperature-assured packaging.

The following table sets forth net sales, intersegment sales and operating profit for the Company’s reportable segments. “Segment operating profit” is defined as the segment’s portion of “Operating profit” excluding restructuring charges, asset impairment charges, acquisition-related costs, and certain other items, if any, the exclusion of which the Company believes improves comparability and analysis of the financial performance of the business. General corporate expenses have been allocated as operating costs to each of the Company’s reportable segments.

SEGMENT FINANCIAL INFORMATION


	Three Months Ended						Nine Months Ended
	September 29, 2019		September 30, 2018		September 29, 2019		September 30, 2018
Net sales:
Consumer Packaging	$	581,368	$	600,154	$	1,773,834	$	1,786,068
Display and Packaging	145,016		165,164		417,403		451,082
Paper and Industrial Converted Products	495,829		463,748		1,483,194		1,398,538
Protective Solutions	131,718		135,696		390,926		399,634
Consolidated	$	1,353,931	$	1,364,762	$	4,065,357	$	4,035,322
Intersegment sales:
Consumer Packaging	$	1,351	$	782	$	3,394	$	2,643
Display and Packaging	1,112		1,034		3,393		2,196
Paper and Industrial Converted Products	33,485		32,828		98,674		100,804
Protective Solutions	255		418		1,080		1,273
Consolidated	$	36,203	$	35,062	$	106,541	$	106,916
Operating profit:
Segment operating profit:
Consumer Packaging	$	56,744	$	56,014	$	181,801	$	180,772
Display and Packaging	8,913		3,703		21,256		4,865
Paper and Industrial Converted Products	59,427		53,906		169,043		155,229
Protective Solutions	13,983		10,433		39,262		34,739
Restructuring/Asset impairment charges	(6,615)		(22,061)		(30,642)		(28,691)
Other, net	6,096		(422)		4,484		(3,381)
Consolidated	$	138,548	$	101,573	$	385,204	$	343,533