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Segment Information (Tables)
6 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Certain Operating Data for Segments

The following tables show selected operating data for our segments (in millions):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net sales (aggregate):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corrugated Packaging

 

$

2,882.5

 

 

$

2,990.7

 

 

$

5,792.0

 

 

$

5,724.5

 

Consumer Packaging

 

 

1,616.3

 

 

 

1,668.3

 

 

 

3,153.2

 

 

 

3,287.1

 

Land and Development

 

 

 

 

 

0.8

 

 

 

18.9

 

 

 

14.7

 

Total

 

$

4,498.8

 

 

$

4,659.8

 

 

$

8,964.1

 

 

$

9,026.3

 

Less net sales (intersegment):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corrugated Packaging

 

$

20.7

 

 

$

19.4

 

 

$

39.0

 

 

$

37.4

 

Consumer Packaging

 

 

30.8

 

 

 

20.4

 

 

 

54.1

 

 

 

41.5

 

Total

 

$

51.5

 

 

$

39.8

 

 

$

93.1

 

 

$

78.9

 

Net sales (unaffiliated customers):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corrugated Packaging

 

$

2,861.8

 

 

$

2,971.3

 

 

$

5,753.0

 

 

$

5,687.1

 

Consumer Packaging

 

 

1,585.5

 

 

 

1,647.9

 

 

 

3,099.1

 

 

 

3,245.6

 

Land and Development

 

 

 

 

 

0.8

 

 

 

18.9

 

 

 

14.7

 

Total

 

$

4,447.3

 

 

$

4,620.0

 

 

$

8,871.0

 

 

$

8,947.4

 

Segment income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corrugated Packaging

 

$

244.5

 

 

$

310.3

 

 

$

527.9

 

 

$

557.1

 

Consumer Packaging

 

 

90.8

 

 

 

85.2

 

 

 

137.0

 

 

 

162.1

 

Land and Development

 

 

 

 

 

0.5

 

 

 

1.4

 

 

 

1.2

 

Segment income

 

 

335.3

 

 

 

396.0

 

 

 

666.3

 

 

 

720.4

 

Gain on sale of certain closed facilities

 

 

5.0

 

 

 

 

 

 

5.5

 

 

 

50.5

 

Multiemployer pension withdrawal expense

 

 

(0.9

)

 

 

 

 

 

(0.9

)

 

 

 

Land and Development impairments

 

 

 

 

 

(13.0

)

 

 

 

 

 

(13.0

)

Restructuring and other costs

 

 

(16.4

)

 

 

(34.8

)

 

 

(46.5

)

 

 

(89.2

)

Non-allocated expenses

 

 

(17.6

)

 

 

(24.4

)

 

 

(35.8

)

 

 

(43.4

)

Interest expense, net

 

 

(97.3

)

 

 

(111.8

)

 

 

(190.8

)

 

 

(206.2

)

(Loss) gain on extinguishment of debt

 

 

(0.5

)

 

 

0.4

 

 

 

(0.5

)

 

 

(1.5

)

Other expense, net

 

 

(0.9

)

 

 

(3.3

)

 

 

(4.6

)

 

 

(6.0

)

Income before income taxes

 

$

206.7

 

 

$

209.1

 

 

$

392.7

 

 

$

411.6

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corrugated Packaging

 

$

239.6

 

 

$

242.7

 

 

$

483.9

 

 

$

461.2

 

Consumer Packaging

 

 

133.2

 

 

 

139.2

 

 

 

268.5

 

 

 

277.8

 

Corporate

 

 

1.7

 

 

 

1.8

 

 

 

3.3

 

 

 

3.8

 

Total

 

$

374.5

 

 

$

383.7

 

 

$

755.7

 

 

$

742.8