Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

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

	Sales, net
Three Months Ended June 30, 2023	Trade		Intersegment			Total			Operating Income (Loss)
Packaging	$	1,785.7	$	4.6		$	1,790.3		$	285.8		(a)
Paper		142.8		—			142.8			29.1		(a)
Corporate and Other		23.6		37.4			61.0			(30.5	)
Intersegment eliminations		—		(42.0	)		(42.0	)		—
	$	1,952.1	$	—		$	1,952.1			284.4
Non-operating pension expense										(2.0	)
Interest expense, net										(14.6	)
Income before taxes									$	267.8

	Sales, net
Three Months Ended June 30, 2022	Trade		Intersegment			Total			Operating Income (Loss)
Packaging	$	2,061.7	$	5.2		$	2,066.9		$	419.8		(b)
Paper		149.8		—			149.8			22.7		(b)
Corporate and Other		25.8		37.4			63.2			(26.7	)
Intersegment eliminations		—		(42.6	)		(42.6	)		—
	$	2,237.3	$	—		$	2,237.3			415.8
Non-operating pension income										3.6
Interest expense, net										(18.8	)
Income before taxes									$	400.6

	Sales, net
Six Months Ended June 30, 2023	Trade		Intersegment			Total			Operating Income (Loss)
Packaging	$	3,589.1	$	9.8		$	3,598.9		$	553.7		(a)
Paper		293.7		—			293.7			63.2		(a)
Corporate and Other		45.6		76.0			121.6			(61.9	)
Intersegment eliminations		—		(85.8	)		(85.8	)		—
	$	3,928.4	$	—		$	3,928.4			555.0
Non-operating pension expense										(4.0	)
Interest expense, net										(29.9	)
Income before taxes									$	521.1

	Sales, net
Six Months Ended June 30, 2022	Trade		Intersegment			Total			Operating Income (Loss)
Packaging	$	4,021.6	$	9.7		$	4,031.3		$	782.1		(b)
Paper		303.3		—			303.3			45.1		(b)
Corporate and Other		48.8		72.7			121.5			(54.8	)
Intersegment eliminations		—		(82.4	)		(82.4	)		—
	$	4,373.7	$	—		$	4,373.7			772.4
Non-operating pension income										7.3
Interest expense, net										(38.7	)
Income before taxes									$	741.0

(a)	The three and six months ended June 30, 2023 include the following:
	1.	$4.4 million and $5.7 million, respectively, of charges related to the announced discontinuation of production of UFS paper grades on the No. 3 machine at the Jackson, Alabama mill associated with the permanent conversion of the machine to produce linerboard and other paper-to-containerboard conversion related activities.
	2.	$3.9 million and $13.6 million, respectively, of charges consisting of closure costs related to corrugated products facilities and design centers.
(b)	The three and six months ended June 30, 2022 include the following:
	1.	$3.9 million and $5.4 million, respectively, of charges related to the announced discontinuation of production of UFS paper grades on the No. 3 machine at the Jackson, Alabama mill associated with the permanent conversion of the machine to produce linerboard and other paper-to-containerboard conversion related activities.
	2.	$0.9 million and $0.3 million, respectively, of income primarily consisting of insurance proceeds received for a natural disaster at one of the corrugated products facilities and a favorable lease buyout for a closed corrugated products facility, partially offset by closure costs related to corrugated products facilities and acquisition and integration costs related to the December 2021 Advance Packaging Corporation acquisition.