Segments of Business

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segments of Business

Segments of Business

The Company's business activities are organized around and aggregated into its two principal business segments, U.S. Packaging and Global Packaging, based on their similar economic characteristics, products, production process, types of customers, and distribution methods. Both internal and external reporting conforms to this organizational structure, with no significant differences in accounting policies applied. Minor intersegment sales are generally priced to reflect nominal markups. The Company evaluates the performance of its segments and allocates resources to them based primarily on operating profit, which is defined as profit before general corporate expense, interest expense, other non-operating income, and income taxes.

A summary of the Company’s business activities reported by its two business segments follows:

	Three Months Ended June 30,						Six Months Ended June 30,
Business Segments (in millions)	2015			2014			2015			2014
Sales including intersegment sales:
U.S. Packaging	$	701.2		$	732.4		$	1,415.1		$	1,478.0
Global Packaging	341.2			379.4			681.8			741.1
Intersegment sales:
U.S. Packaging	(6.5		)	(6.6		)	(13.4		)	(14.0		)
Global Packaging	(5.6		)	(7.6		)	(13.1		)	(12.5		)
Total net sales	$	1,030.3		$	1,097.6		$	2,070.4		$	2,192.6
U.S. Packaging operating profit	$	102.9		$	101.0		$	198.3		$	192.8
Global Packaging:
Operating profit before restructuring costs	27.3			26.6			56.6			50.7
Restructuring costs	(0.3		)	—			(5.3		)	—
Operating profit	27.0			26.6			51.3			50.7
General corporate expenses	(20.7		)	(21.0		)	(43.0		)	(41.6		)
Operating income	109.2			106.6			206.6			201.9
Interest expense	12.8			17.0			25.9			33.9
Other non-operating income	(2.2		)	(1.7		)	(4.0		)	(14.4		)
Income from continuing operations before income taxes	$	98.6		$	91.3		$	184.7		$	182.4