XML 35 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Reporting
 6 Months Ended
Jun. 28, 2020
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company reports its financial results in four reportable segments: Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions.
The Consumer Packaging segment includes the following products and services: round and shaped rigid containers and trays (both composite and thermoformed plastic); extruded and injection-molded plastic products; printed flexible packaging; global brand artwork management; and metal and peelable membrane ends and closures.
The Display and Packaging segment includes the following products and services: designing, manufacturing, assembling, packing and distributing temporary, semi-permanent and permanent point-of-purchase displays; supply chain management services, including contract packing, fulfillment and scalable service centers; retail packaging, including printed backer cards, thermoformed blisters and heat sealing equipment; and paper amenities, such as coasters and glass covers.
The Paper and Industrial Converted Products segment includes the following products: paperboard tubes, cones, and cores; fiber-based construction tubes; wooden, metal and composite wire and cable reels and spools; and recycled paperboard, linerboard, corrugating medium, recovered paper and material recycling services.
The Protective Solutions segment includes the following products: custom-engineered, paperboard-based and expanded foam protective packaging and components; and temperature-assured packaging.
The following table sets forth net sales, intersegment sales and operating profit for the Company’s reportable segments. “Segment operating profit” is defined as the segment’s portion of “Operating profit” excluding restructuring and asset impairment charges, acquisition expenses, interest income and expense, income taxes or certain other items, if any, the exclusion of which the Company believes improves comparability and analysis of the financial performance of the business. General corporate expenses have been allocated as operating costs to each of the Company’s reportable segments.
SEGMENT FINANCIAL INFORMATION 
 Three Months EndedSix Months Ended
 June 28, 2020June 30, 2019June 28, 2020June 30, 2019
Net sales:
Consumer Packaging$614,621  $602,750  $1,203,038  $1,192,466  
Display and Packaging107,303  134,833  228,659  272,387  
Paper and Industrial Converted Products434,452  491,328  909,422  987,365  
Protective Solutions89,109  130,810  207,662  259,208  
Consolidated$1,245,485  $1,359,721  $2,548,781  $2,711,426  
Intersegment sales:
Consumer Packaging$2,451  $1,122  $4,724  $2,043  
Display and Packaging1,169  1,114  2,467  2,281  
Paper and Industrial Converted Products27,848  31,535  57,060  65,189  
Protective Solutions331  363  703  825  
Consolidated$31,799  $34,134  $64,954  $70,338  
Operating profit:
Segment operating profit:
Consumer Packaging$86,129  $62,942  $153,930  $125,057  
Display and Packaging5,981  5,889  14,075  12,343  
Paper and Industrial Converted
Products		29,964  61,229  83,977  109,616  
Protective Solutions4,482  14,275  18,486  25,279  
Restructuring/Asset impairment charges(22,885) (13,355) (35,484) (24,027) 
Other, net56  (1,212) (1,154) (1,612) 
Consolidated$103,727  $129,768  $233,830  $246,656