XML 22 R11.htm IDEA: XBRL DOCUMENT v3.20.2
Revenue Recognition
 9 Months Ended
Jun. 30, 2020
Revenue From Contract With Customer [Abstract]  
Revenue Recognition

Note 2.

Revenue Recognition

 

Disaggregated Revenue

 

ASC 606 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.

 

 

 

Three Months Ended June 30, 2020

 

(In millions)

 

Corrugated Packaging

 

 

Consumer Packaging

 

 

Land and Development

 

 

Intersegment Sales

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Primary Geographical Markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

2,632.4

 

 

$

1,238.4

 

 

$

—

 

 

$

(44.8

)

 

$

3,826.0

 

South America

 

 

87.8

 

 

 

14.1

 

 

 

—

 

 

 

—

 

 

 

101.9

 

Europe

 

 

0.6

 

 

 

233.8

 

 

 

—

 

 

 

(0.2

)

 

 

234.2

 

Asia Pacific

 

 

8.0

 

 

 

66.3

 

 

 

—

 

 

 

(0.1

)

 

 

74.2

 

Total

 

$

2,728.8

 

 

$

1,552.6

 

 

$

—

 

 

$

(45.1

)

 

$

4,236.3

 

 

 

 

 

Nine Months Ended June 30, 2020

 

(In millions)

 

Corrugated Packaging

 

 

Consumer Packaging

 

 

Land and Development

 

 

Intersegment Sales

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Primary Geographical Markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

8,187.0

 

 

$

3,718.8

 

 

$

18.9

 

 

$

(137.7

)

 

$

11,787.0

 

South America

 

 

296.1

 

 

 

52.9

 

 

 

—

 

 

 

—

 

 

 

349.0

 

Europe

 

 

4.9

 

 

 

731.8

 

 

 

—

 

 

 

(0.2

)

 

 

736.5

 

Asia Pacific

 

 

32.8

 

 

 

202.3

 

 

 

—

 

 

 

(0.3

)

 

 

234.8

 

Total

 

$

8,520.8

 

 

$

4,705.8

 

 

$

18.9

 

 

$

(138.2

)

 

$

13,107.3

 

 

 

 

Three Months Ended June 30, 2019

 

(In millions)

 

Corrugated Packaging

 

 

Consumer Packaging

 

 

Land and Development

 

 

Intersegment Sales

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Primary Geographical Markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

2,954.6

 

 

$

1,306.0

 

 

$

8.6

 

 

$

(41.3

)

 

$

4,227.9

 

South America

 

 

102.8

 

 

 

14.8

 

 

 

—

 

 

 

—

 

 

 

117.6

 

Europe

 

 

0.7

 

 

 

259.3

 

 

 

—

 

 

 

(0.1

)

 

 

259.9

 

Asia Pacific

 

 

14.7

 

 

 

70.0

 

 

 

—

 

 

 

(0.1

)

 

 

84.6

 

Total

 

$

3,072.8

 

 

$

1,650.1

 

 

$

8.6

 

 

$

(41.5

)

 

$

4,690.0

 

 

 

 

Nine Months Ended June 30, 2019

 

(In millions)

 

Corrugated Packaging

 

 

Consumer Packaging

 

 

Land and Development

 

 

Intersegment Sales

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Primary Geographical Markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

8,426.3

 

 

$

3,870.7

 

 

$

23.3

 

 

$

(119.0

)

 

$

12,201.3

 

South America

 

 

321.2

 

 

 

52.2

 

 

 

—

 

 

 

—

 

 

 

373.4

 

Europe

 

 

0.7

 

 

 

789.4

 

 

 

—

 

 

 

(0.1

)

 

 

790.0

 

Asia Pacific

 

 

49.1

 

 

 

224.9

 

 

 

—

 

 

 

(1.3

)

 

 

272.7

 

Total

 

$

8,797.3

 

 

$

4,937.2

 

 

$

23.3

 

 

$

(120.4

)

 

$

13,637.4

 

 

 

Revenue Contract Balances

 

Contract assets are rights to consideration in exchange for goods that we have transferred to a customer when that right is conditional on something other than the passage of time. Contract assets are reduced when title and risk of loss passes to the customer. 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 aggregated within Other current assets and Other current liabilities, respectively, on the condensed consolidated balance sheet.

 

(In millions)

 

Contract Assets

(Short-Term)

 

 

Contract Liabilities

(Short-Term)

 

 

 

 

 

 

 

 

 

 

Beginning balance - October 1, 2019

 

$

188.0

 

 

$

7.7

 

Ending balance - June 30, 2020

 

 

202.0

 

 

 

16.9

 

Increase / (Decrease)

 

$

14.0

 

 

$

9.2