Revenue Recognition

3 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Note 2. Revenue Recognition

Disaggregated Revenue

Accounting Standards Codification (“ASC”) 606 “Revenue from Contracts with Customers” requires that we disaggregate revenue from contracts with customers into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The tables below disaggregate our revenue by geographical market and product type (segment). Net sales are attributed to geographical markets based on our selling location. See “Note 7. Segment Information” for additional information.

The following tables summarize our disaggregated revenue by primary geographical markets (in millions):

	Three Months Ended December 31, 2023
	Corrugated Packaging		Consumer Packaging		Global Paper		Distribution		Intersegment  Sales			Total
U.S.	$	1,796.4	$	593.8	$	820.5	$	248.1	$	(61.0	)	$	3,397.8
Latin America		485.4		6.1		23.5		40.4		(4.1	)		551.3
Canada		135.1		116.7		51.1		1.2		(0.7	)		303.4
EMEA (1)		3.0		270.9		11.9		—		(1.4	)		284.4
Asia Pacific		—		71.8		11.3		—		—			83.1
Total	$	2,419.9	$	1,059.3	$	918.3	$	289.7	$	(67.2	)	$	4,620.0

(1)Europe, Middle East and Africa ("EMEA")

	Three Months Ended December 31, 2022
	Corrugated Packaging		Consumer Packaging		Global Paper		Distribution		Intersegment  Sales			Total
U.S.	$	1,973.5	$	703.0	$	1,022.7	$	276.7	$	(71.5	)	$	3,904.4
Latin America		225.5		51.7		33.6		41.4		(1.3	)		350.9
Canada		137.1		123.7		45.5		3.4		(1.5	)		308.2
EMEA		1.3		259.9		11.1		—		(0.1	)		272.2
Asia Pacific		—		76.7		10.7		—		—			87.4
Total	$	2,337.4	$	1,215.0	$	1,123.6	$	321.5	$	(74.4	)	$	4,923.1

Revenue Contract Balances

Our contract assets relate to the manufacturing of certain products that have no alternative use to us, with right to payment for performance completed to date on these products, including a reasonable profit. Contract assets are reduced when the customer takes title to the goods and assumes the risks and rewards for the goods. Contract liabilities represent obligations to transfer goods or services to a customer for which we have received consideration. Contract liabilities are reduced once control of the goods is transferred to the customer.

The opening and closing balances of our contract assets and contract liabilities are as follows. Contract assets and contract liabilities are reported within Other current assets and Other current liabilities, respectively, on the consolidated balance sheets (in millions).

	Contract Assets (Short-Term)		Contract Liabilities (Short-Term)
Beginning balance - October 1, 2023	$	241.7	$	13.5
Increase (decrease)		9.4		(2.6	)
Ending balance - December 31, 2023	$	251.1	$	10.9