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Segments of Business (Tables)
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Summary of the entity's business activities reported by business segments
A summary of the Company’s business activities reported by its three business segments follows:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
Business Segments (in millions)
 
2014
 
2013
 
2014
 
2013
Sales including intersegment sales:
 
 
 
 

 
 
 
 
U.S. Packaging
 
$
732.4

 
$
788.8

 
$
1,478.0

 
$
1,541.8

Global Packaging
 
379.4

 
382.3

 
741.1

 
756.6

Pressure Sensitive Materials
 
144.4

 
142.1

 
287.5

 
282.9

 
 
 
 
 
 
 
 
 
Intersegment sales:
 
 
 
 
 
 
 
 
U.S. Packaging
 
(6.6
)
 
(7.9
)
 
(14.0
)
 
(14.9
)
Global Packaging
 
(7.6
)
 
(7.9
)
 
(12.5
)
 
(13.7
)
Pressure Sensitive Materials
 
(0.4
)
 
(0.3
)
 
(0.7
)
 
(0.6
)
Total net sales
 
$
1,241.6

 
$
1,297.1

 
$
2,479.4

 
$
2,552.1

 
 
 
 
 
 
 
 
 
U.S. Packaging
 
 
 
 

 
 
 
 
Operating profit before facility consolidation and other costs
 
$
101.0

 
$
101.5

 
$
192.8

 
$
196.9

Facility consolidation and other costs
 
—

 
(21.2
)
 
—

 
(30.6
)
Operating profit
 
101.0

 
80.3

 
192.8

 
166.3

 
 
 
 
 
 
 
 
 
Global Packaging
 
 
 
 
 
 
 
 
Operating profit before facility consolidation and other costs
 
26.6

 
27.1

 
50.7

 
52.9

Facility consolidation and other costs
 
—

 
0.3

 
—

 
0.4

Operating profit
 
26.6

 
27.4

 
50.7

 
53.3

 
 
 
 
 
 
 
 
 
Pressure Sensitive Materials
 
 
 
 
 
 
 
 
Operating profit (loss)
 
9.8

 
6.0

 
(4.7
)
 
13.7

 
 
 
 
 
 
 
 
 
Corporate
 
 
 
 
 
 
 
 
General corporate expenses
 
(21.6
)
 
(23.4
)
 
(43.8
)
 
(50.9
)
 
 
 
 
 
 
 
 
 
Operating income
 
115.8

 
90.3

 
195.0

 
182.4

 
 
 
 
 
 
 
 
 
Interest expense
 
17.0

 
17.0

 
33.9

 
33.6

Other non-operating income
 
(1.5
)
 
(7.2
)
 
(14.1
)
 
(3.1
)
 
 
 
 
 
 
 
 
 
Income before income taxes
 
$
100.3

 
$
80.5

 
$
175.2

 
$
151.9


Business Segments (in millions)
 
June 30, 2014
 
December 31, 2013
Total assets:
 
 

 
 

U.S. Packaging
 
$
2,016.2

 
$
2,016.8

Global Packaging
 
1,517.2

 
1,463.5

Pressure Sensitive Materials
 
326.0

 
319.8

Total identifiable assets (1)
 
3,859.4

 
3,800.1

Corporate assets (2)
 
293.6

 
310.1

Total
 
$
4,153.0

 
$
4,110.2


(1)    Total assets by business segment include only those assets that are specifically identified with each segment’s operations.
(2)  Corporate assets are principally cash and cash equivalents, prepaid expenses, prepaid income taxes, prepaid pension benefit costs, and corporate tangible and intangible property.