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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Revenue from External Customers by Product Line

Segment sales to external customers by product line were as follows (dollars in millions):

 

 

 

Year Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Packaging sales

 

 

 

 

 

 

 

 

 

 

 

 

Packaging sales

 

$

5,312.3

 

 

$

4,584.8

 

 

$

4,477.3

 

Paper

 

 

 

 

 

 

 

 

 

 

 

 

White papers

 

 

1,051.8

 

 

 

1,065.8

 

 

 

1,089.6

 

Market pulp

 

 

—

 

 

 

28.1

 

 

 

53.5

 

 

 

 

1,051.8

 

 

 

1,093.9

 

 

 

1,143.1

 

Corporate and Other

 

 

80.8

 

 

 

100.3

 

 

 

121.3

 

 

 

$

6,444.9

 

 

$

5,779.0

 

 

$

5,741.7

 

 
Analysis of Operations by Reportable Segment

An analysis of operations by reportable segment is as follows (dollars in millions):

 

 

 

Sales, net

 

 

Operating

 

 

Depreciation,

 

 

Capital

 

 

 

 

 

Year Ended

December 31, 2017

 

Trade

 

 

Inter-

segment

 

 

Total

 

 

Income

(Loss)

 

 

Amortization,

and Depletion

 

 

Expenditures

(k)

 

 

Assets

 

Packaging

 

$

5,288.6

 

 

$

23.7

 

 

$

5,312.3

 

 

$

943.7

 

(a)

$

317.5

 

 

$

305.1

 

 

$

4,933.6

 

Paper

 

 

1,051.8

 

 

 

—

 

 

 

1,051.8

 

 

 

61.5

 

(b)

 

67.6

 

 

 

22.6

 

 

 

945.2

 

Corporate and Other

 

 

104.5

 

 

 

124.7

 

 

 

229.2

 

 

 

(74.0

)

(c)

 

6.3

 

 

 

15.3

 

 

 

318.7

 

Intersegment eliminations

 

 

—

 

 

 

(148.4

)

 

 

(148.4

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

6,444.9

 

 

$

—

 

 

$

6,444.9

 

 

 

931.2

 

 

$

391.4

 

 

$

343.0

 

 

$

6,197.5

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(102.6

)

(j)

 

 

 

 

 

 

 

 

 

 

 

Income before taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

828.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales, net

 

 

Operating

 

 

Depreciation,

 

 

Capital

 

 

 

 

 

Year Ended

December 31, 2016

 

Trade

 

 

Inter-

segment

 

 

Total

 

 

Income

(Loss)

 

 

Amortization,

and Depletion

 

 

Expenditures

(k)

 

 

Assets

 

Packaging

 

$

4,577.4

 

 

$

7.4

 

 

$

4,584.8

 

 

$

711.0

 

(d)

$

293.3

 

 

$

239.9

 

 

$

4,530.5

 

Paper

 

 

1,093.9

 

 

 

—

 

 

 

1,093.9

 

 

 

138.1

 

(e)

 

59.6

 

 

 

31.6

 

 

 

946.2

 

Corporate and Other

 

 

107.7

 

 

 

139.2

 

 

 

246.9

 

 

 

(68.9

)

(f)

 

5.1

 

 

 

2.8

 

 

 

300.3

 

Intersegment eliminations

 

 

—

 

 

 

(146.6

)

 

 

(146.6

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

5,779.0

 

 

$

—

 

 

$

5,779.0

 

 

 

780.3

 

 

$

358.0

 

 

$

274.3

 

 

$

5,777.0

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(91.8

)

 

 

 

 

 

 

 

 

 

 

 

 

Income before taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

688.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales, net

 

 

Operating

 

 

Depreciation,

 

 

Capital

 

 

 

 

 

Year Ended

December 31, 2015

 

Trade

 

 

Inter-

segment

 

 

Total

 

 

Income

(Loss)

 

 

Amortization,

and Depletion

 

 

Expenditures

(k)

 

 

Assets

 

Packaging

 

$

4,474.1

 

 

$

3.2

 

 

$

4,477.3

 

 

$

714.9

 

(g)

$

297.3

 

 

$

250.3

 

 

$

4,027.9

 

Paper

 

 

1,143.1

 

 

 

—

 

 

 

1,143.1

 

 

 

112.5

 

(h)

 

54.9

 

 

 

58.5

 

 

 

976.5

 

Corporate and Other

 

 

124.5

 

 

 

133.8

 

 

 

258.3

 

 

 

(77.4

)

(i)

 

4.3

 

 

 

5.7

 

 

 

267.9

 

Intersegment eliminations

 

 

—

 

 

 

(137.0

)

 

 

(137.0

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

5,741.7

 

 

$

—

 

 

$

5,741.7

 

 

 

750.0

 

 

$

356.5

 

 

$

314.5

 

 

$

5,272.3

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(85.5

)

 

 

 

 

 

 

 

 

 

 

 

 

Income before taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

$

664.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Includes the following:

 

o

$7.2 million of income, net, primarily related to the sale of land corresponding to the closure of a corrugated products facility, partially offset by closure costs related to corrugated products facilities, and a lump sum settlement of a multiemployer pension plan withdrawal liability for one of our corrugated products facilities.

 

o

$1.7 million of charges related to the Sacramento Container acquisition and integration costs related to other recent acquisitions.

 

o

$2.0 million gain related to the expiration of a repurchase option corresponding to timberland previously sold.

 

o

$1.6 million of income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.

 

o

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

(b)

Includes $33.4 million of charges related to our determination to discontinue production of uncoated free sheet and coated one-side grades at the Wallula, Washington mill in the second quarter of 2018 and convert the No. 3 paper machine to a high-performance 100% virgin kraft linerboard machine and $0.4 million of charges related to the closure costs of a paper administration facility.

(c)

Includes $1.0 million of charges related to the closure costs of a corporate administration facility and $0.7 million of income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.

(d)

Includes $10.2 million of closure costs related to corrugated product facilities and a lump sum settlement of a multiemployer pension plan withdrawal liability for one of our corrugated products facilities and $4.2 million of acquisition-related costs for the TimBar Corporation and Columbus Container acquisitions.

(e)

Includes $2.7 million of costs related to ceased softwood market pulp operations at our Wallula, Washington mill and the permanent shut down of the No.1 machine and $1.7 million of closure costs related to a paper products facility.

(f)

Includes $0.3 million of acquisition-related costs related to the TimBar Corporation acquisition.

(g)

Includes net charges of $2.0 million primarily related to restructuring activities at our mill in DeRidder, Louisiana and $4.1 million of Boise acquisition integration-related and other costs.

(h)

In September 2015, we sold the remaining land, buildings, and equipment at our paper mill site in St. Helens, Oregon where we ceased paper production in December 2012. We recorded a $6.7 million gain on the sale.

(i)

Includes $9.3 million of Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs.

(j)

Includes $1.8 million of expense related to the write-off of deferred debt issuance costs in connection with the December 2017 debt refinancing.

(k)

Includes “Additions to property, plant, and equipment” and excludes cash used for “Acquisitions of businesses, net of cash acquired” as reported on our Consolidated Statements of Cash Flows.