XML 39 R32.htm IDEA: XBRL DOCUMENT v3.24.3
Other Income (Expense), Net (Tables)
 9 Months Ended
Sep. 30, 2024
Other Income and Expenses [Abstract]  
Components of Other Income (Expense), Net

The components of other expense, net, were as follows (dollars in millions):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Asset disposals and write-offs

 

$

(11.4

)

 

$

(9.0

)

 

$

(26.9

)

 

$

(22.2

)

Facilities closure and other (costs) income (a)

 

 

(0.3

)

 

 

0.1

 

 

 

(0.3

)

 

 

(7.0

)

DeRidder litigation (b)

 

 

(2.0

)

 

 

—

 

 

 

(127.7

)

 

 

—

 

DeRidder litigation insurance recovery (b)

 

 

2.0

 

 

 

—

 

 

 

127.7

 

 

 

—

 

Jackson mill conversion-related activities (c)

 

 

—

 

 

 

—

 

 

 

(7.6

)

 

 

(1.5

)

Other

 

 

(4.4

)

 

 

(1.0

)

 

 

(16.2

)

 

 

(6.4

)

Total

 

$

(16.1

)

 

$

(9.9

)

 

$

(51.0

)

 

$

(37.1

)

 

(a)
For the three and nine months ended September 30, 2024, includes charges consisting of closure costs related to corrugated products facilities. For the nine months ended September 30, 2024, these charges were partially offset by income primarily related to a favorable lease buyout for a closed corrugated products facility during the first quarter of 2024. For the three and nine months ended September 30, 2023, includes income and charges consisting of closure costs related to the closure of corrugated products facilities and design centers. Included therein are closure costs as well as the gain on sale of a corrugated products facility.

 

(b)
On April 24, 2024, a jury for the remaining DeRidder mill lawsuit that was tried in the U.S. District Court for the Middle District of Louisiana awarded plaintiffs compensatory damages plus interest. The amount of the verdict with interest is within the remaining limits of the Company's liability insurance policies. See Note 19, Commitments, Guarantees, Indemnifications, and Legal Proceedings for additional detail.

 

(c)
Includes items related to the announced discontinuation of production of uncoated freesheet 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.