Segment Information

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

During 2015, the Company reevaluated the aggregation of operating segments into reportable segments in accordance with FASB ASC 280 Segment Reporting, concluded there are three reportable segments, and recast prior periods as follows:

Paperboard Mills includes the seven North American paperboard mills which produce primarily CUK and CRB. The majority of the paperboard is consumed internally to produce paperboard packaging for the Americas and Europe Paperboard Packaging segments. The remaining paperboard is sold externally to a wide variety of paperboard packaging converters and brokers. The Paperboard Mills segment Net Sales represent the sale of paperboard only to external customers. The effect of intercompany transfers to the paperboard packaging segments has been eliminated from the Paperboard Mills segment to reflect the economics of the integration of these segments.

Americas Paperboard Packaging includes paperboard packaging folding cartons sold primarily to Consumer Packaged Goods ("CPG") companies serving the food, beverage, and consumer product markets primarily in the Americas.

Europe Paperboard Packaging includes paperboard packaging folding cartons sold primarily to CPG companies serving the food, beverage and consumer product markets in Europe.

The Company allocates certain mill and corporate costs to the reportable segments to appropriately represent the economics of these segments. The Corporate and Other caption includes the Pacific Rim operating segment and unallocated corporate and one-time costs.

These segments are evaluated by the chief operating decision maker based primarily on Income from Operations, as adjusted for depreciation and amortization. The accounting policies of the reportable segments are the same as those described above in "Note 1 - Nature of Business and Basis of Presentation."

Segment information is as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
In millions	2016			2015			2016			2015
NET SALES:
Paperboard Mills	$	95.6		$	128.0		$	293.9		$	355.7
Americas Paperboard Packaging	866.2			780.5			2,498.5			2,303.6
Europe Paperboard Packaging	142.1			154.1			435.3			453.1
Corporate/Other/Eliminations	(0.2		)	7.4			13.2			22.9
Total	$	1,103.7		$	1,070.0		$	3,240.9		$	3,135.3
INCOME (LOSS) FROM OPERATIONS:
Paperboard Mills	$	(3.5	)	$	11.5		$	(5.0	)	$	11.9
Americas Paperboard Packaging	101.5			103.2			319.7			302.7
Europe Paperboard Packaging	6.9			4.4			25.3			26.6
Corporate and Other	0.2			(9.1		)	(22.1		)	(15.7		)
Total	$	105.1		$	110.0		$	317.9		$	325.5
DEPRECIATION AND AMORTIZATION:
Paperboard Mills	$	29.6		$	31.8		$	90.3		$	92.0
Americas Paperboard Packaging	36.4			28.0			97.5			80.8
Europe Paperboard Packaging	10.4			12.1			31.0			35.0
Corporate and Other	1.8			1.6			5.3			5.0
Total	$	78.2		$	73.5		$	224.1		$	212.8

For more information regarding the Company’s business segments, see “Note 16 — Business Segment and Geographic Area Information” of the Notes to Consolidated Financial Statements of the Company’s 2015 Form 10-K.