Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

in the carrying amount of our goodwill were as follows (dollars in millions):

						Total
	Packaging		Paper			Goodwill
Balance at January 1, 2020	$	863.5	$	55.2		$	918.7
Impairment of Paper segment		—		(55.2	)		(55.2	)
Balance at December 31, 2020		863.5		—			863.5
Acquisition (a)		60.0		—			60.0
Balance at December 31, 2021	$	923.5	$	—		$	923.5

(a)In connection with the December 2021 acquisition of Advance Packaging, the Company recorded $60.0 million of goodwill in the Packaging segment.

See Note 5, Acquisitions, for more information.

Components of Intangible Assets

The weighted average useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions):

	As of December 31, 2021						As of December 31, 2020
	Weighted Average Remaining Useful Life (in Years)		Gross Carrying Amount		Accumulated Amortization		Weighted Average Remaining Useful Life (in Years)		Gross Carrying Amount		Accumulated Amortization
Customer relationships (b)(c)		8.5	$	551.1	$	254.9		9.1	$	503.8	$	220.2
Trademarks and trade names (b)		8.4		37.6		25.5		9.3		34.8		23.0
Other (b)		2.2		4.4		4.3		1.2		4.3		3.8
Total intangible assets (excluding goodwill)		8.5	$	593.1	$	284.7		9.1	$	542.9	$	247.0

(b)In connection with the December 2021 acquisition of Advance Packaging, the Company recorded intangible assets of $47.3 million for customer relationships, $2.8 million for trade names, and $0.1 million for other intangibles.

(c)During the second quarter of 2020, the Company recorded a $4.5 million adjustment to decrease the remaining book value of the customer relationships intangible asset as a result of the closure of the San Lorenzo, California corrugated products facility.