Dispositions

3 Months Ended

Jan. 02, 2021

Dispositions [Abstract]

Dispositions

4.  Dispositions

U.S. Flexible Packaging Converting Disposition

In November 2020, the Company completed the sale of its U.S. Flexible Packaging Converting business which was primarily operated in its Engineered Materials reporting segment for net proceeds of $140 million. A pretax gain on sale of $7 million was recorded in fiscal 2021 within Restructuring and transaction activities on the Consolidated Statements of Income.  The divested business recorded $203 million in net sales during fiscal 2020.