Segment Information

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Information

Segment Information

We report our business in three reportable segments: Packaging, Paper, and Corporate and Other. These segments represent distinct businesses that are managed separately because of differing products and services. Each of these businesses requires distinct operating and marketing strategies.

Each segment's profits and losses are measured on operating profits before interest expense, net, and income taxes. For many of these allocated expenses, the related assets and liabilities remain in the Corporate and Other segment.

Selected financial information by reportable segment was as follows (dollars in millions):

	Sales, net								Operating Income (Loss)
Three Months Ended June 30, 2016	Trade		Inter- segment			Total
Packaging	$	1,123.6	$	1.7		$	1,125.3		$	192.4		(a)
Paper	266.8		—			266.8			24.4			(a)
Corporate and Other	27.0		33.0			60.0			(16.6		)
Intersegment eliminations	—		(34.7		)	(34.7		)	—
	$	1,417.4	$	—		$	1,417.4		200.2
Interest expense, net									(22.5		)
Income before taxes									$	177.7

	Sales, net								Operating Income (Loss)
Three Months Ended June 30, 2015	Trade		Inter- segment			Total
Packaging	$	1,140.9	$	1.3		$	1,142.2		$	194.6		(b)
Paper	281.1		—			281.1			23.4
Corporate and Other	32.3		34.1			66.4			(20.4		)	(c)
Intersegment eliminations	—		(35.4		)	(35.4		)	—
	$	1,454.3	$	—		$	1,454.3		197.6
Interest expense, net									(22.2		)
Income before taxes									$	175.4

	Sales, net								Operating Income (Loss)
Six Months Ended June 30, 2016	Trade		Inter- segment			Total
Packaging	$	2,217.4	$	3.4		$	2,220.8		$	353.9		(a)
Paper	547.3		—			547.3			60.5			(a)
Corporate and Other	53.7		69.0			122.7			(33.4		)
Intersegment eliminations	—		(72.4		)	(72.4		)	—
	$	2,818.4	$	—		$	2,818.4		381.0
Interest expense									(44.1		)
Income before taxes									$	336.9

	Sales, net								Operating Income (Loss)
Six Months Ended June 30, 2015	Trade		Inter-segment			Total
Packaging	$	2,238.8	$	2.7		$	2,241.5		$	335.7		(b)
Paper	578.4		—			578.4			59.0
Corporate and Other	62.8		64.6			127.4			(40.0		)	(c)
Intersegment eliminations	—		(67.3		)	(67.3		)	—
	$	2,880.0	$	—		$	2,880.0		354.7
Interest expense									(41.4		)
Income before taxes									$	313.3

___________

(a) The three and six months ended June 30, 2016 include $1.7 million and $4.5 million, respectively, of closure costs related to corrugated products facilities and a paper products facility. The closure costs are recorded within "Other expense, net" and "Cost of sales", as appropriate.

The three and six months ended June 30, 2016 include $0.3 million of acquisition-related costs for the announced TimBar Corporation acquisition, which we recorded in "Other expense, net".

The three and six months ended June 30, 2016 include $0.9 million of costs related to our withdrawal from a multiemployer pension plan for one of our corrugated products facilities.

(b) The three and six months ended June 30, 2015 include $1.0 million of income and $9.3 million of expense, respectively, related to restructuring charges at our mill in DeRidder, Louisiana, which were recorded in "Other expense, net" and "Cost of sales", as appropriate.

The three and six months ended June 30, 2015 include $1.7 million and $2.6 million of Boise acquisition integration-related and other costs, respectively. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs, and are mostly recorded in "Other expense, net".

(c) The three and six months ended June 30, 2015 include $2.0 million and $4.6 million, respectively, of Boise acquisition integration-related and other costs, mostly recorded in "Other expense, net". Boise acquisition integration-related and other costs, primarily recorded in "Other expense, net".