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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay Versus Performance Table
The following table shows for 2024, 2023, 2022, 2021 and 2020:
 
 
●
  
the total compensation disclosed in the Summary Compensation Table (SCT Compensation) for Mr. Kowlzan, our principal executive officer (the PEO) for each of those years;
 
 
●
  
the average SCT Compensation for Mr. Hassfurther, Mr. Mundy, Mr. Carter and Mr. Shirley, who were our other named executive officers (the
Non-PEO
NEOs) for each of those years;
 
 
●
  
the Compensation Actually Paid (CAP), as determined in accordance with Item 402(v) of Regulation
S-K
under the Securities Exchange Act of 1934, for Mr. Kowlzan for each of those years;
 
 
●
  
the average CAP for the Other NEOs for each of those years;
 
 
●
  
the value of an initial fixed $100 investment made on January 1, 2020 as of the end of each of those years in: (a) the Company; and (b) the comparative peer group (the “Comparative Peer Group”) described under “—Long Term Equity Awards” elsewhere in this section (which is the peer group we measure performance against on a relative basis for purposes of determining payouts under our performance units and which is unchanged from the peer group we used in last year’s PVP table, other than to remove companies that were acquired) on a weighted-average market capitalization basis;
 
 
●
  
our net income for each of those years, as reported in accordance with generally accepted accounting principles;
and
 
 
●
  
our earnings per share, excluding special items
4
, for each of those years, which we believe is the most important financial performance measure to us, other than TSR to link compensation actually paid to our performance.
 
Year
  
SCT Total
for PEO(1)
  
CAP for
PEO(1)
  
Average
SCT Total
for Non-
PEO
NEOs(1)
  
Average
CAP to
Non-PEO

NEOs(1)
  
 
Value of Initial
Fixed $100 Investments
based on:
  
Net Income
(in millions)
  
Company
Selected
Measure
of
Earnings
Per
Share,
Excluding
Special
Items
 
Total
Shareholder
Return of
the
Company
  
Peer Group
Total
Shareholder
Return(2)
2024
     $ 15,672,470     $ 37,766,553     $ 5,753,920     $ 14,245,677     $ 235.19     $ 153.09     $ 805.1     $ 9.04
2023
       15,228,190       26,358,360       5,637,042       9,342,353       166.01       149.05       765.2       8.70
2022
       12,231,634       14,187,010       5,036,654       5,617,099       125.88       121.86       1,029.8       11.14
2021
       12,517,313       8,937,387       4,655,014       3,497,059       129.32       152.87       841.1       9.39
2020
       10,443,674       17,543,943       4,029,973       6,289,416       127.27       118.94       461.0       5.78
 
4
Earnings per share excluding special items is a
Non-GAAP
financial measure, which we present throughout this proxy statement. Important information relating to our use of this
Non-GAAP
financial measure and a reconciliation of this
Non-GAAP
financial measure to the most comparable financial measure presented in accordance with Generally Accepted Accounting Principles (GAAP) are included in Item 7 of our Annual Report on Form
10-K
for the applicable year under the caption “Reconciliations of
Non-GAAP
Financial Measures to Reported Amounts” or in the case of our Annual Report on Form 10-K for the year ended December 31, 2024,
“Non-GAAP
Financial Measures.”
 
  (1)
Below is a
reconciliation
of the SCT total to the CAP total for the PEO:
 
Year
  
Summary
Compensation
Table (SCT)
Total
Compensation
  
SCT
Change in
Pension
Value
  
CAP
Pension
Service
Cost
  
SCT Equity
Value
  
Fair Value
as of Year
End of
Equity
Awards
Granted
During the
Year
  
Increase
(Decrease)
from Prior-
Year-End

Fair Value
of Awards
that Vested
During the
Year
  
Year-over-
Year
Increase
(Decrease)
in Fair
Value of
Unvested
Awards
Granted in
Prior Years
  
Dividends
  
Total
2024
     $ 15,672,470      $ (66,711 )     $ 275,879     ($ 10,633,352 )     $ 15,016,106     $ 2,248,842     $ 14,773,676     $ 479,643     $ 37,766,553
2023
       15,228,190       (888,965 )       252,829       (9,604,906 )       12,497,223       1,159,227       7,167,023       547,739       26,358,360
2022
       12,231,634       -       394,222       (7,250,018 )       5,991,532       2,605,270       (284,918 )       499,288       14,187,010
2021
       12,517,313       (325,321 )       409,787       (6,745,717 )       6,398,487       (1,142,952 )       (2,563,862 )       389,652       8,937,387
2020
       10,443,674       (1,164,693 )       476,277       (5,575,067 )       8,854,213       (845,467 )       5,104,418       250,588       17,543,943
Below is a reconciliation of the average SCT total to the average CAP total for the
non-PEO
NEOs.
 
Year
  
Summary
Compensation
Table (SCT)
Total
Compensation
  
SCT
Change in
Pension
Value
  
CAP
Pension
Service
Cost
  
SCT Equity

Value
  
Fair Value

as of Year

End of

Equity

Awards
Granted
During the
Year
  
Increase
(Decrease)
from Prior-
Year-End

Fair Value

of Awards
that Vested
During the
Year
  
Year-over-

Year

Increase

(Decrease)
in Fair

Value of
Unvested
Awards
Granted in
Prior Years
  
Dividends
  
Total
2024     $ 5,753,920       ($ 16,767 )     $ 72,145     ($ 3,325,704 )     $ 4,696,480     $ 1,248,872     $ 5,660,135     $ 156,596     $ 14,245,677
2023       5,637,042       (311,772 )       63,957       (3,019,176 )       3,928,335       388,155       2,471,924       183,888       9,342,353
2022
       5,036,654       -       98,616       (2,634,404 )       2,177,112       852,667       (95,409 )       181,863       5,617,099
2021
       4,655,014       (98,480 )       102,592       (2,258,776 )       2,142,514       (326,641 )       (856,519 )       137,355       3,497,059
2020
       4,029,973       (423,033 )       91,261       (1,866,742 )       2,964,722       (146,679 )       1,559,373       80,541       6,289,416
Outstanding and unvested stock awards included in CAP are valued as of the end of the year presented using methodology consistent with the valuation of such awards on the grant date and described in Note 1 to the Summary Compensation Table included in this proxy statement. Restricted stock is valued at the closing market price on the New York Stock Exchange on the last trading day of the year presented. The valuation of ROIC Units is determined based upon the probable outcome, which, for all outstanding units, was payout at 100%, except for awards that paid out earlier in 2025, which were present at actual attained performance of 114%. The valuation of the TSR Units was redetermined as of the end of each year based upon a Monte Carlo simulation.
In each case, “Dividends” include dividends paid in cash on unvested restricted stock awards and the year over year change in value of accrued dividends on ROIC Performance Units.
       
Company Selected Measure Name Earnings per share excluding special items        
Named Executive Officers, Footnote the average SCT Compensation for Mr. Hassfurther, Mr. Mundy, Mr. Carter and Mr. Shirley, who were our other named executive officers (the
Non-PEO
NEOs) for each of those years; 		       
Peer Group Issuers, Footnote the value of an initial fixed $100 investment made on January 1, 2020 as of the end of each of those years in: (a) the Company; and (b) the comparative peer group (the “Comparative Peer Group”) described under “—Long Term Equity Awards” elsewhere in this section (which is the peer group we measure performance against on a relative basis for purposes of determining payouts under our performance units and which is unchanged from the peer group we used in last year’s PVP table, other than to remove companies that were acquired) on a weighted-average market capitalization basis;        
PEO Total Compensation Amount $ 15,672,470 $ 15,228,190 $ 12,231,634 $ 12,517,313 $ 10,443,674
PEO Actually Paid Compensation Amount $ 37,766,553 26,358,360 14,187,010 8,937,387 17,543,943
Adjustment To PEO Compensation, Footnote
  (1)
Below is a
reconciliation
of the SCT total to the CAP total for the PEO:
 
Year
  
Summary
Compensation
Table (SCT)
Total
Compensation
  
SCT
Change in
Pension
Value
  
CAP
Pension
Service
Cost
  
SCT Equity
Value
  
Fair Value
as of Year
End of
Equity
Awards
Granted
During the
Year
  
Increase
(Decrease)
from Prior-
Year-End

Fair Value
of Awards
that Vested
During the
Year
  
Year-over-
Year
Increase
(Decrease)
in Fair
Value of
Unvested
Awards
Granted in
Prior Years
  
Dividends
  
Total
2024
     $ 15,672,470      $ (66,711 )     $ 275,879     ($ 10,633,352 )     $ 15,016,106     $ 2,248,842     $ 14,773,676     $ 479,643     $ 37,766,553
2023
       15,228,190       (888,965 )       252,829       (9,604,906 )       12,497,223       1,159,227       7,167,023       547,739       26,358,360
2022
       12,231,634       -       394,222       (7,250,018 )       5,991,532       2,605,270       (284,918 )       499,288       14,187,010
2021
       12,517,313       (325,321 )       409,787       (6,745,717 )       6,398,487       (1,142,952 )       (2,563,862 )       389,652       8,937,387
2020
       10,443,674       (1,164,693 )       476,277       (5,575,067 )       8,854,213       (845,467 )       5,104,418       250,588       17,543,943
       
Non-PEO NEO Average Total Compensation Amount $ 5,753,920 5,637,042 5,036,654 4,655,014 4,029,973
Non-PEO NEO Average Compensation Actually Paid Amount $ 14,245,677 9,342,353 5,617,099 3,497,059 6,289,416
Adjustment to Non-PEO NEO Compensation Footnote
Below is a reconciliation of the average SCT total to the average CAP total for the
non-PEO
NEOs.
 
Year
  
Summary
Compensation
Table (SCT)
Total
Compensation
  
SCT
Change in
Pension
Value
  
CAP
Pension
Service
Cost
  
SCT Equity

Value
  
Fair Value

as of Year

End of

Equity

Awards
Granted
During the
Year
  
Increase
(Decrease)
from Prior-
Year-End

Fair Value

of Awards
that Vested
During the
Year
  
Year-over-

Year

Increase

(Decrease)
in Fair

Value of
Unvested
Awards
Granted in
Prior Years
  
Dividends
  
Total
2024     $ 5,753,920       ($ 16,767 )     $ 72,145     ($ 3,325,704 )     $ 4,696,480     $ 1,248,872     $ 5,660,135     $ 156,596     $ 14,245,677
2023       5,637,042       (311,772 )       63,957       (3,019,176 )       3,928,335       388,155       2,471,924       183,888       9,342,353
2022
       5,036,654       -       98,616       (2,634,404 )       2,177,112       852,667       (95,409 )       181,863       5,617,099
2021
       4,655,014       (98,480 )       102,592       (2,258,776 )       2,142,514       (326,641 )       (856,519 )       137,355       3,497,059
2020
       4,029,973       (423,033 )       91,261       (1,866,742 )       2,964,722       (146,679 )       1,559,373       80,541       6,289,416
Outstanding and unvested stock awards included in CAP are valued as of the end of the year presented using methodology consistent with the valuation of such awards on the grant date and described in Note 1 to the Summary Compensation Table included in this proxy statement. Restricted stock is valued at the closing market price on the New York Stock Exchange on the last trading day of the year presented. The valuation of ROIC Units is determined based upon the probable outcome, which, for all outstanding units, was payout at 100%, except for awards that paid out earlier in 2025, which were present at actual attained performance of 114%. The valuation of the TSR Units was redetermined as of the end of each year based upon a Monte Carlo simulation.
In each case, “Dividends” include dividends paid in cash on unvested restricted stock awards and the year over year change in value of accrued dividends on ROIC Performance Units.
       
Compensation Actually Paid vs. Total Shareholder Return
The following chart shows our CAP to our PEO and our average CAP to our Other NEOs (presented as bars) for the years presented; and our TSR and the TSR of our Comparative Peer Group based upon the value of an initial $100 investment made on January 1, 2020 (presented as lines) as of the end of the years presented:
 
 
LOGO 		       
Compensation Actually Paid vs. Net Income
The following chart shows our CAP to our PEO and our average CAP to our Other NEOs (presented as bars) and our net income (presented as a line) for the years presented:
 
 
LOGO 		       
Compensation Actually Paid vs. Company Selected Measure
The following chart shows our CAP to our PEO and our average CAP to our Other NEOs (presented as bars) and our earnings per share, excluding special items (presented as a line) for the years presented:
 
 
LOGO 		       
Tabular List, Table
List of Financial Performance Measures Used to Link CAP to Performance
 
  •  
Relative total shareholder return (against peer companies)
 
  •  
Earnings per share, excluding special items
 
  •  
Return on invested capital
       
Total Shareholder Return Amount $ 235.19 166.01 125.88 129.32 127.27
Peer Group Total Shareholder Return Amount 153.09 149.05 121.86 152.87 118.94
Net Income (Loss) $ 805,100,000 $ 765,200,000 $ 1,029,800,000 $ 841,100,000 $ 461,000,000
Company Selected Measure Amount 9.04 8.7 11.14 9.39 5.78
PEO Name Mr. Kowlzan        
Measure:: 1          
Pay vs Performance Disclosure          
Name Relative total shareholder return (against peer companies)        
Measure:: 2          
Pay vs Performance Disclosure          
Name Earnings per share, excluding special items        
Non-GAAP Measure Description Earnings per share excluding special items is a
Non-GAAP
financial measure, which we present throughout this proxy statement. Important information relating to our use of this
Non-GAAP
financial measure and a reconciliation of this
Non-GAAP
financial measure to the most comparable financial measure presented in accordance with Generally Accepted Accounting Principles (GAAP) are included in Item 7 of our Annual Report on Form
10-K
for the applicable year under the caption “Reconciliations of
Non-GAAP
Financial Measures to Reported Amounts” or in the case of our Annual Report on Form 10-K for the year ended December 31, 2024,
“Non-GAAP
Financial Measures.” 		       
Measure:: 3          
Pay vs Performance Disclosure          
Name Return on invested capital        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 15,016,106 $ 12,497,223 $ 5,991,532 $ 6,398,487 $ 8,854,213
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 14,773,676 7,167,023 (284,918) (2,563,862) 5,104,418
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,248,842 1,159,227 2,605,270 (1,142,952) (845,467)
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 479,643 547,739 499,288 389,652 250,588
PEO | SCT Changein Pension Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (66,711) (888,965) 0 (325,321) (1,164,693)
PEO | CAP Pension Service Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 275,879 252,829 394,222 409,787 476,277
PEO | SCT Equity Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (10,633,352) (9,604,906) (7,250,018) (6,745,717) (5,575,067)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 4,696,480 3,928,335 2,177,112 2,142,514 2,964,722
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,660,135 2,471,924 (95,409) (856,519) 1,559,373
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,248,872 388,155 852,667 (326,641) (146,679)
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 156,596 183,888 181,863 137,355 80,541
Non-PEO NEO | SCT Changein Pension Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (16,767) (311,772) 0 (98,480) (423,033)
Non-PEO NEO | CAP Pension Service Cost [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 72,145 63,957 98,616 102,592 91,261
Non-PEO NEO | SCT Equity Value [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (3,325,704) $ (3,019,176) $ (2,634,404) $ (2,258,776) $ (1,866,742)