Segment Information

3 Months Ended

Mar. 31, 2017

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 March 31, 2017	Trade		Inter-segment			Total
Packaging	$	1,251.3	$	5.7		$	1,257.0		$	190.8		(a)
Paper	259.2		—			259.2			29.8
Corporate and Other	26.0		28.2			54.2			(17.5		)	(a)
Intersegment eliminations	—		(33.9		)	(33.9		)	—
	$	1,536.5	$	—		$	1,536.5		203.1
Interest expense, net									(24.0		)
Income before taxes									$	179.1

	Sales, net								Operating Income (Loss)
Three Months Ended March 31, 2016	Trade		Inter-segment			Total
Packaging	$	1,093.8	$	1.7		$	1,095.5		$	161.5		(b)
Paper	280.5		—			280.5			36.1			(b)
Corporate and Other	26.7		36.0			62.7			(16.8		)
Intersegment eliminations	—		(37.7		)	(37.7		)	—
	$	1,401.0	$	—		$	1,401.0		180.8
Interest expense, net									(21.6		)
Income before taxes									$	159.2

___________

(a) The three months ended March 31, 2017 include the following:

1. $0.8 million of charges consisting of closure costs related to corrugated products facilities, integration costs related to the TimBar Corporation and Columbus Container, Inc. acquisitions, and costs related to a lump sum settlement payment of a multiemployer pension plan withdrawal liability for one of our corrugated products facilities.

2. $5.0 million of costs for the property damage and business interruption insurance deductible corresponding to the February 2017 explosion at our DeRidder, LA mill.

3. $2.3 million of income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.

(b) The three months ended March 31, 2016 include charges of $2.8 million for facilities closure costs recorded within "Other expense, net" and "Cost of sales" as appropriate.