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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

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

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

Packaging

 

 

Paper

 

 

Goodwill

 

Balance at January 1, 2017

 

$

682.7

 

 

$

55.2

 

 

$

737.9

 

Acquisitions (a)(b)

 

 

145.3

 

 

 

—

 

 

 

145.3

 

Balance at December 31, 2017

 

$

828.0

 

 

$

55.2

 

 

$

883.2

 

Acquisitions (c)(d)

 

 

34.1

 

 

 

—

 

 

 

34.1

 

Balance at December 31, 2018

 

$

862.1

 

 

$

55.2

 

 

$

917.3

 

 

(a)

In connection with the October 2017 acquisition of Sacramento Container, the Company recorded $151.1 million of goodwill in the Packaging segment.

(b)

During 2017, the Company recorded opening balance sheet adjustments related to the TimBar and Columbus Container acquisitions resulting in a decrease to goodwill of $5.8 million.

(c)

During 2018, the Company recorded a $5.5 million adjustment to increase the goodwill balance for the Company’s October 2017 acquisition of Sacramento Container.

(d)

In connection with the October 2018 acquisition of Englander, the Company recorded $28.6 million of goodwill in the Packaging segment.

 
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, 2018

 

 

As of December 31, 2017

 

 

 

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 (e)

 

10.9

 

 

$

504.6

 

 

$

144.5

 

 

11.8

 

$

497.8

 

 

$

109.8

 

Trademarks and trade names (e)

 

10.1

 

 

 

34.8

 

 

 

18.3

 

 

9.8

 

 

32.9

 

 

 

13.2

 

Other (e)

 

 

3.0

 

 

 

4.4

 

 

 

2.7

 

 

3.6

 

 

4.3

 

 

 

2.0

 

Total intangible assets (excluding goodwill)

 

10.8

 

 

$

543.7

 

 

$

165.5

 

 

11.7

 

$

535.0

 

 

$

125.0

 

 

(e)

In connection with the October 2018 acquisition of Englander, the Company recorded intangible assets of $13.2 million for customer relationships, $0.8 million for trade names, and $0.1 million for other intangibles. In October 2017, the Company acquired Sacramento Container and recorded intangible assets of $61.9 million for customer relationships, $5.1 million for trade names, and $0.1 million for other intangibles.