2017 Q2 Form 10-Q Financial Statement
#000156459017015560 Filed on August 04, 2017
Income Statement
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| Revenue | $1.584B | $1.417B |
| YoY Change | 11.75% | -2.54% |
| Cost Of Revenue | $1.219B | $1.097B |
| YoY Change | 11.13% | -3.46% |
| Gross Profit | $364.3M | $320.1M |
| YoY Change | 13.81% | 0.79% |
| Gross Profit Margin | 23.0% | 22.58% |
| Selling, General & Admin | $130.2M | $114.8M |
| YoY Change | 13.41% | -0.95% |
| % of Gross Profit | 35.74% | 35.86% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $83.60M | $79.90M |
| YoY Change | 4.63% | 1.52% |
| % of Gross Profit | 22.95% | 24.96% |
| Operating Expenses | $130.4M | $114.8M |
| YoY Change | 13.59% | -0.95% |
| Operating Profit | $234.1M | $200.2M |
| YoY Change | 16.93% | 1.32% |
| Interest Expense | -$25.20M | -$22.50M |
| YoY Change | 12.0% | 1.35% |
| % of Operating Profit | -10.76% | -11.24% |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $208.6M | $177.7M |
| YoY Change | 17.39% | 1.31% |
| Income Tax | $65.40M | $61.80M |
| % Of Pretax Income | 31.35% | 34.78% |
| Net Earnings | $143.2M | $115.9M |
| YoY Change | 23.55% | 1.67% |
| Net Earnings / Revenue | 9.04% | 8.18% |
| Basic Earnings Per Share | $1.52 | $1.23 |
| Diluted Earnings Per Share | $1.52 | $1.23 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 93.40M | 93.20M shares |
| Diluted Shares Outstanding | 93.60M | 93.30M shares |
Balance Sheet
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $321.0M | $213.6M |
| YoY Change | 50.28% | 30.48% |
| Cash & Equivalents | $321.0M | $213.6M |
| Short-Term Investments | ||
| Other Short-Term Assets | $52.80M | $60.30M |
| YoY Change | -12.44% | -48.98% |
| Inventory | $734.4M | $671.3M |
| Prepaid Expenses | ||
| Receivables | $755.2M | $663.4M |
| Other Receivables | $0.00 | $1.300M |
| Total Short-Term Assets | $1.863B | $1.610B |
| YoY Change | 15.75% | -2.87% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $2.873B | $2.810B |
| YoY Change | 2.23% | -1.5% |
| Goodwill | $731.1M | $544.0M |
| YoY Change | 34.39% | 0.0% |
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $80.00M | $72.80M |
| YoY Change | 9.89% | -1.22% |
| Total Long-Term Assets | $4.040B | $3.686B |
| YoY Change | 9.59% | -1.77% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $1.863B | $1.610B |
| Total Long-Term Assets | $4.040B | $3.686B |
| Total Assets | $5.903B | $5.296B |
| YoY Change | 11.46% | -2.1% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $349.2M | $308.4M |
| YoY Change | 13.23% | -9.11% |
| Accrued Expenses | $177.5M | $170.2M |
| YoY Change | 4.29% | -10.14% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $156.5M | $6.500M |
| YoY Change | 2307.69% | 0.0% |
| Total Short-Term Liabilities | $760.2M | $551.5M |
| YoY Change | 37.84% | -9.02% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $2.457B | $2.288B |
| YoY Change | 7.39% | -2.46% |
| Other Long-Term Liabilities | $60.40M | $61.90M |
| YoY Change | -2.42% | -11.57% |
| Total Long-Term Liabilities | $3.236B | $3.082B |
| YoY Change | 5.0% | -4.06% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $760.2M | $551.5M |
| Total Long-Term Liabilities | $3.236B | $3.082B |
| Total Liabilities | $3.997B | $3.634B |
| YoY Change | 9.98% | -4.85% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $1.579B | $1.337B |
| YoY Change | 18.07% | 3.41% |
| Common Stock | $461.8M | $442.0M |
| YoY Change | 4.48% | -0.2% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $1.907B | $1.662B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $5.903B | $5.296B |
| YoY Change | 11.46% | -2.1% |
Cashflow Statement
| Concept | 2017 Q2 | 2016 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $143.2M | $115.9M |
| YoY Change | 23.55% | 1.67% |
| Depreciation, Depletion And Amortization | $83.60M | $79.90M |
| YoY Change | 4.63% | 1.52% |
| Cash From Operating Activities | $221.5M | $185.2M |
| YoY Change | 19.6% | -5.61% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$84.20M | -$72.20M |
| YoY Change | 16.62% | -19.6% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $1.100M | $0.00 |
| YoY Change | -100.0% | |
| Cash From Investing Activities | -$83.10M | -$72.20M |
| YoY Change | 15.1% | 8.9% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -71.40M | -61.70M |
| YoY Change | 15.72% | -33.37% |
| NET CHANGE | ||
| Cash From Operating Activities | 221.5M | 185.2M |
| Cash From Investing Activities | -83.10M | -72.20M |
| Cash From Financing Activities | -71.40M | -61.70M |
| Net Change In Cash | 67.00M | 51.30M |
| YoY Change | 30.6% | 37.53% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $221.5M | $185.2M |
| Capital Expenditures | -$84.20M | -$72.20M |
| Free Cash Flow | $305.7M | $257.4M |
| YoY Change | 18.76% | -10.0% |
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<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Nature of Operations and Basis of Presentation </p></td></tr></table></div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Packaging Corporation of America ("we," "us," "our," PCA," or the "Company") was incorporated on January 25, 1999. In April 1999, PCA acquired the containerboard and corrugated packaging products business of Pactiv Corporation (Pactiv), formerly known as Tenneco Packaging, Inc., a wholly owned subsidiary of Tenneco Inc. We are a large diverse manufacturer of both packaging and paper products. We are headquartered in Lake Forest, Illinois and we operate primarily in the United States.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We report our business in three reportable segments: Packaging, Paper, and Corporate and Other. Our Packaging segment produces a wide variety of corrugated packaging products. The Paper segment manufactures and sells a range of white papers, including communication-based papers and pressure sensitive papers. Corporate and Other includes support staff services and related assets and liabilities, transportation assets, and activity related to other ancillary support operations. For more information about our segments, see Note 16 Segment Information.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In these consolidated financial statements, certain amounts in prior periods' consolidated financial statements have been reclassified to conform with the current period presentation.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The consolidated financial statements of PCA as of June 30, 2017 and for the three and six months ended June 30, 2017 and 2016 are unaudited but include all adjustments (consisting only of normal recurring adjustments) that management considers necessary for a fair presentation of such financial statements. The preparation of the consolidated financial statements involves the use of estimates and accruals. Actual results may vary from those estimates. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with Article 10 of Regulation S-X of the Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete audited financial statements. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2016.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The consolidated financial statements include the accounts of PCA and its majority-owned subsidiaries after elimination of intercompany balances and transactions.</p></div> | ||
| CY2016Q4 | pkg |
Accrued Medical Insurance And Workers Compensation Current
AccruedMedicalInsuranceAndWorkersCompensationCurrent
|
28800000 | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-top:12pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of the consolidated financial statements involves the use of estimates and accruals. Actual results may vary from those estimates.</p></div> | ||
| us-gaap |
Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
|
<div> <p style="margin-top:18pt;margin-bottom:0pt;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;text-indent:3.33%;">Guarantees and Indemnifications</p> <p style="margin-top:6pt;margin-bottom:0pt;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">We provide guarantees, indemnifications, and other assurances to third parties in the normal course of our business. These include tort indemnifications, product guarantees, environmental assurances, and representations and warranties in commercial agreements. At June 30, 2017 we are not aware of any material liabilities arising from any guarantee, indemnification, or financial assurance we have provided. If we determined such a liability was probable and subject to reasonable determination, we would accrue for it at that time.</p></div> | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | ||
| CY2017Q2 | pkg |
Recoveries And Cost Of Property Damage And Business Interruption
RecoveriesAndCostOfPropertyDamageAndBusinessInterruption
|
2500000 | |
| pkg |
Recoveries And Cost Of Property Damage And Business Interruption
RecoveriesAndCostOfPropertyDamageAndBusinessInterruption
|
-2500000 | ||
| CY2017Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
500000 | |
| CY2016Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
2600000 | |
| us-gaap |
Restructuring Charges
RestructuringCharges
|
1300000 | ||
| us-gaap |
Restructuring Charges
RestructuringCharges
|
4500000 | ||
| us-gaap |
Disposal Group Including Discontinued Operation Other Income
DisposalGroupIncludingDiscontinuedOperationOtherIncome
|
2300000 | ||
| CY2017Q2 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-2400000 | |
| CY2016Q2 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-1100000 | |
| us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-4700000 | ||
| us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-2900000 | ||
| CY2017Q2 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
-200000 | |
| CY2017Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.314 | |
| CY2016Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.348 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.328 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.348 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.350 | ||
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
105700000 | ||
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
83300000 | ||
| CY2017Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
257600000 | |
| CY2016Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
271900000 | |
| CY2017Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
13600000 | |
| CY2016Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
12900000 | |
| CY2017Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
222400000 | |
| CY2016Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
206500000 | |
| CY2017Q2 | us-gaap |
Other Inventory Supplies
OtherInventorySupplies
|
240800000 | |
| CY2016Q4 | us-gaap |
Other Inventory Supplies
OtherInventorySupplies
|
232300000 | |
| CY2017Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
6120000000 | |
| CY2016Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
6010300000 | |
| CY2017Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3247500000 | |
| CY2016Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3114600000 | |
| CY2017Q2 | us-gaap |
Depreciation
Depreciation
|
83600000 | |
| CY2016Q2 | us-gaap |
Depreciation
Depreciation
|
79900000 | |
| us-gaap |
Depreciation
Depreciation
|
166000000 | ||
| us-gaap |
Depreciation
Depreciation
|
160600000 | ||
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
19000000 | ||
| CY2016 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
12800000 | |
| us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P12Y6M0D | ||
| CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
462400000 | |
| CY2017Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
106200000 | |
| CY2016 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P12Y10M30D | |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
456400000 | |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
89300000 | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
16900000 | ||
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
11200000 | ||
| CY2017Q2 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
99500000 | |
| CY2016Q2 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
500000 | |
| CY2016Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
120400000 | |
| CY2017Q2 | pkg |
Accrued Medical Insurance And Workers Compensation Current
AccruedMedicalInsuranceAndWorkersCompensationCurrent
|
29100000 | |
| CY2017Q2 | pkg |
Accrual For Franchise Property Sales And Use Taxes Current
AccrualForFranchisePropertySalesAndUseTaxesCurrent
|
18200000 | |
| CY2016Q4 | pkg |
Accrual For Franchise Property Sales And Use Taxes Current
AccrualForFranchisePropertySalesAndUseTaxesCurrent
|
16700000 | |
| CY2017Q2 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
18000000 | |
| CY2016Q4 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
18900000 | |
| CY2017Q2 | us-gaap |
Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
|
4500000 | |
| CY2016Q4 | us-gaap |
Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
|
6400000 | |
| CY2017Q2 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
3200000 | |
| CY2016Q4 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
3000000 | |
| CY2017Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
5000000 | |
| CY2016Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
7000000 | |
| us-gaap |
Interest Paid
InterestPaid
|
48100000 | ||
| us-gaap |
Interest Paid
InterestPaid
|
43100000 | ||
| CY2017Q2 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
1400000 | |
| CY2016Q2 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
1400000 | |
| us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
2800000 | ||
| us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
2800000 | ||
| CY2017Q2 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
500000 | |
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1000000 | ||
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
900000 | ||
| CY2017Q2 | us-gaap |
Defined Benefit Plan Expected Future Employer Contributions Remainder Of Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsRemainderOfFiscalYear
|
8000000 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
|
2023-05-01 | ||
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
10600000 | |
| CY2017Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
1000000 | |
| CY2017Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5600000 | |
| CY2016Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4700000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
10200000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
10300000 | ||
| CY2017Q2 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
2100000 | |
| CY2016Q2 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
1800000 | |
| us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
3900000 | ||
| us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
4000000 | ||
| CY2017Q2 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
3500000 | |
| CY2016Q2 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
2900000 | |
| us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
6300000 | ||
| us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
6300000 | ||
| CY2017Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
50200000 | |
| us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y | ||
| CY2017Q2 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.63 | |
| CY2017Q2 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
59400000 | |
| CY2016Q1 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
200000000 | |
| CY2017Q2 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
0 | |
| us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
0 | ||
| us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-5600000 | ||
| us-gaap |
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
|
-5700000 | ||
| pkg |
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months Net Of Tax
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonthsNetOfTax
|
-3500000 | ||
| CY2017Q2 | us-gaap |
Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
|
4500000 | |
| CY2016Q4 | us-gaap |
Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
|
5000000 | |
| CY2017Q2 | us-gaap |
Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
|
4500000 | |
| CY2016Q4 | us-gaap |
Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
|
5000000 |
