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Segment reporting
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment reporting Segment reporting
The Company’s operating and reporting structure consists of two reportable segments, Consumer Packaging and Industrial Paper Packaging, with all remaining businesses reported as All Other.
The products produced and sold within the Consumer Packaging segment are generally used to package a variety of consumer products and consist primarily of round and shaped rigid paper, steel and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays; and high-barrier flexible packaging.
The primary products produced and sold within the Industrial Paper Packaging segment include paperboard tubes, cones, and cores; paper-based protective packaging; and uncoated recycled paperboard.
The primary products produced within the All Other group of businesses consist of a variety of packaging materials, including plastic, paper, foam, and various other specialty materials.
Effective January 1, 2024, the Company will integrate its flexible packaging and thermoforming packaging businesses within the Consumer Packaging segment in order to streamline operations, enhance customer service and better position the business for accelerated growth. As a result, the Company will change its operating and reporting structure to reflect the way it plans to manage its operations, evaluate performance, and allocate resources going forward. Therefore, in future reporting periods, the Company’s consumer thermoforming businesses will move from the All Other group of businesses to the Consumer Packaging segment. The Company’s Industrial Paper Packaging segment will not be affected by these changes. As of and for the year ended December 31, 2023, there were no changes to the manner in which the Company reviewed financial information at the segment level; therefore, these changes had no impact on our reporting structure.
The following table sets forth financial information about each of the Company’s business segments and All Other group of businesses:
  
Years ended December 31
  
Consumer
Packaging
Industrial Paper PackagingAll OtherCorporateConsolidated
Total Revenue
2023$3,639,759 $2,475,935 $789,781 $— $6,905,475 
20223,774,957 2,818,778 808,069 — 7,401,804 
20212,373,583 2,578,379 768,476 — 5,720,438 
Intersegment Sales1
2023$12,782 $101,822 $9,579 $— $124,183 
20227,001 134,215 10,036 — 151,252 
20215,236 114,067 10,697 — 130,000 
Sales to Unaffiliated Customers
2023$3,626,977 $2,374,113 $780,202 $— $6,781,292 
20223,767,956 2,684,563 798,033 — 7,250,552 
20212,368,347 2,464,312 757,779 — 5,590,438 
Income/(Loss) Before Income Taxes2
2023$382,063 $313,545 $103,745 $(184,521)$614,832 
2022526,028 327,859 65,978 (348,583)571,282 
2021274,926 226,798 63,060 (725,766)(160,982)
Identifiable Assets3
2023$3,682,650 $2,559,026 $825,003 $125,278 $7,191,957 
20223,825,675 2,079,326 871,800 276,139 7,052,940 
20211,956,688 1,971,293 886,647 258,607 5,073,235 
Depreciation, Depletion and Amortization4
2023$124,483 $104,722 $24,519 $87,264 $340,988 
2022111,599 91,944 24,854 80,427 308,824 
202178,802 91,141 25,822 49,419 245,184 
Capital Expenditures
2023$186,109 $111,619 $24,838 $40,511 $363,077 
2022127,478 145,021 21,177 35,093 328,769 
202160,532 150,225 22,780 22,482 256,019 
1
Intersegment sales are recorded at a market-related transfer price.
2
Included in Corporate above are restructuring/asset impairment charges, changes in LIFO inventory reserves, net, gains or losses from derivatives, gains or losses from the divestiture of businesses and other assets, acquisition, integration and divestiture-related costs, amortization of acquired intangibles, and other non-operating income and expenses associated with the following segments:
Consumer
Packaging
Industrial Paper
Packaging
All Other
CorporateTotal
2023$(56,237)$17,064 $(24,486)$(120,862)$(184,521)
2022(138,343)(40,805)(18,800)(150,635)(348,583)
2021(25,983)(2,570)(23,312)(673,900)(725,765)
 
The remaining amounts reported as Corporate consist of: interest expense; interest income; non-operating pension costs; and portions of acquisition, integration and divestiture-related costs, restructuring, other income, net, and other non-operating income and expenses not associated with a particular segment.
3
Identifiable assets are those assets used by each segment in its operations. Corporate assets consist primarily of cash and cash equivalents, investments in affiliates, headquarters facilities, deferred income taxes and prepaid expenses.
4
Depreciation and depletion incurred at Corporate are allocated to the reportable segments.
Geographic regions
Sales to unaffiliated customers and long-lived assets by geographic region are as follows:
202320222021
Sales to Unaffiliated Customers
United States$4,818,736 $5,232,092 $3,650,090 
Europe921,347 961,697 941,655 
Canada216,690 227,668 212,272 
Asia Pacific335,557 373,734 401,003 
Other488,962 455,361 385,418 
Total$6,781,292 $7,250,552 $5,590,438 
Long-lived Assets
United States$3,504,438 $3,240,011 $2,078,342 
Europe653,730 607,996 545,211 
Canada113,888 96,210 104,913 
Asia Pacific158,301 157,030 157,084 
Other196,504 85,233 68,949 
Total$4,626,861 $4,186,480 $2,954,499 
Sales are attributed to countries/regions based upon the plant location from which products are shipped. Long-lived assets are comprised of investments in affiliates, property, plant and equipment, and goodwill and other intangible assets (see Notes 1, 6 and 8).