Operating Segments

9 Months Ended

Jul. 02, 2016

Operating Segments [Abstract]

Operating Segments

10. Operating Segments

In November 2015, the Company reorganized into three operating segments: Consumer Packaging, Health, Hygiene & Specialties, and Engineered Materials. The new structure is designed to better align us with our customers, provide improved service, drive future growth, and to facilitate future cost saving synergies. Selected information by reportable segment is presented in the following tables, with prior period amounts recast to conform to the new structure:

					Three Quarterly Periods
	Quarterly Period Ended				Ended
		July 2,		June 27,		July 2,		June 27,
		2016		2015		2016		2015
Net sales:
Consumer Packaging	$	705	$	731	$	2,075	$	2,163
Health, Hygiene & Specialties		567		122		1,699		383
Engineered Materials		373		388		1,097		1,139
Total net sales	$	1,645	$	1,241	$	4,871	$	3,685
Operating income:
Consumer Packaging	$	63	$	75	$	173	$	168
Health, Hygiene & Specialties		61		7		119		24
Engineered Materials		55		39		138		109
Total operating income	$	179	$	121	$	430	$	301
Depreciation and amortization:
Consumer Packaging	$	65	$	59	$	195	$	177
Health, Hygiene & Specialties		36		8		140		26
Engineered Materials		19		20		55		60
Total depreciation and amortization	$	120	$	87	$	390	$	263

		July 2,		September 26,
		2016		2015
Total assets:
Consumer Packaging	$	3,617	$	3,832
Health, Hygiene & Specialties		3,471		385
Engineered Materials		717		811
Total assets	$	7,805	$	5,028
Goodwill:
Consumer Packaging	$	1,521	$	1,520
Health, Hygiene & Specialties		937		48
Engineered Materials		83		84
Total goodwill	$	2,541	$	1,652

Selected information by geography is presented in the following tables:

					Three Quarterly Periods
	Quarterly Period Ended				Ended
		July 2,		June 27,		July 2,		June 27,
		2016		2015		2016		2015
Net sales:
North America	$	1,329	$	1,193	$	3,939	$	3,540
South America		88		2		246		5
Europe		158		30		481		91
Asia		70		16		205		49
Total net sales	$	1,645	$	1,241	$	4,871	$	3,685

		July 2,		September 26,
		2016		2015
Long-lived assets:
North America	$	4,706	$	3,510
South America		570		5
Europe		488		79
Asia		275		51
Total Long-lived assets	$	6,039	$	3,645

Goodwill

In connection with the change in reporting segments, the Company allocated the goodwill to the new segments under the provisions of ASC 350. The changes in the carrying amount of goodwill by reportable segment due to the current year realignment are as follows:

		Rigid			Rigid			Engineered			Flexible			Consumer		Health,
		Open Top			Closed Top			Materials			Packaging			Packaging		Hygiene &		Total
																Specialties
Balance as of September 26, 2015	$	681		$	823		$	69		$	79		$	-	$	-	$	1,652
Segment reorganization		(681	)		(823	)		15			(79	)		1,520		48		-
Acquisitions, net		-			-			-			-			-		846		846
Foreign currency translation
adjustment		-			-			(1	)		-			1		43		43
Balance as of July 2, 2016	$	-		$	-		$	83		$	-		$	1,521	$	937	$	2,541