Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Analysis of Operations by Reportable Segment

An analysis of operations by reportable segment is as follows (dollars in millions):

	Sales, net								Operating Income (Loss)
Three Months Ended June 30, 2014 (a)	Trade		Inter- segment			Total
Packaging	$	1,144.0	$	1.2		$	1,145.2		$	166.4		(b)
Paper	295.2		—			295.2			33.6			(c)
Corporate and Other	29.2		38.1			67.3			(19.8		)	(d)
Intersegment eliminations	—		(39.3		)	(39.3		)	—
	$	1,468.4	$	—		$	1,468.4		180.2
Interest expense, net									(21.4		)
Income before taxes									$	158.8

	Sales, net						Operating Income (Loss)
Three Months Ended June 30, 2013	Trade		Inter- segment		Total
Packaging	$	800.2	$	—	$	800.2	$	122.3		(e)
Corporate and Other	—		—		—		(12.1		)
	$	800.2	$	—	$	800.2	110.2
Interest expense, net							(9.2		)
Income before taxes							$	101.0

	Sales, net								Operating Income (Loss)
Six Months Ended June 30, 2014 (a)	Trade		Inter- segment			Total
Packaging	$	2,239.6	$	3.0		$	2,242.6		$	337.1		(b)
Paper	604.5		—			604.5			61.3			(c)
Corporate and Other	55.6		75.8			131.4			(57.2		)	(d)
Intersegment eliminations	—		(78.8		)	(78.8		)	—
	$	2,899.7	$	—		$	2,899.7		341.2
Interest expense, net									(42.2		)
Income before taxes									$	299.0

	Sales, net						Operating Income (Loss)
Six Months Ended June 30, 2013	Trade		Inter- segment		Total
Packaging	$	1,555.4	$	—	$	1,555.4	$	240.2		(e)
Corporate and Other	—		—		—		(24.0		)
	$	1,555.4	$	—	$	1,555.4	216.2
Interest expense, net							(18.5		)
Income before taxes							$	197.7

____________

(a) On October 25, 2013, we acquired Boise. The 2014 results include Boise for the full period.

(b) Includes costs related primarily to our plans to convert the Number 3 newsprint machine at our DeRidder, Louisiana, mill to produce lightweight linerboard and corrugating medium and to exit the newsprint business in September 2014. The three and six months ended June 30, 2014, include $17.8 million and $21.8 million, respectively, of restructuring charges, primarily accelerated depreciation, recorded in "Cost of sales". The three and six months ended June 30, 2014, both include $4.4 million of Boise acquisition integration-related and other costs recorded in "Other expense, net".

(c) Includes $1.0 million and $0.4 million of income, net of expenses, for the three and six months ended June 30, 2014, respectively, of integration related and other costs recorded in "Other expense, net".

(d) Includes $1.5 millionand $5.0 million, for the three and six months ended June 30, 2014, respectively, of Boise acquisition integration-related and other costs. The six months ended June 30, 2014, includes $17.6 million of costs for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit. See Note 18, Commitments, Guarantees, Indemnifications and Legal Proceedings, for more information. These costs are recorded in "Other expense, net".

(e) Includes $7.8 million of non-cash pension curtailment charges related to pension plan changes in which certain hourly corrugated plant employees transitioned from a defined benefit pension plan to a defined contribution (401k) plan.