$PKG
PACKAGING CORP OF AMERICA

2017 Q4 Form 10-Q Financial Statement

#000156459017021412 Filed on November 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q4
Revenue $1.684B $1.640B $1.477B
YoY Change 14.07% 10.52% 6.16%
Cost Of Revenue $1.313B $1.243B $1.150B
YoY Change 14.19% 7.67% 3.95%
Gross Profit $371.4M $397.0M $327.1M
YoY Change 13.54% 20.49% 14.77%
Gross Profit Margin 22.05% 24.21% 22.15%
Selling, General & Admin $133.7M $130.2M $125.1M
YoY Change 6.87% 11.38% 18.69%
% of Gross Profit 36.0% 32.8% 38.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $107.7M $87.00M $93.70M
YoY Change 14.94% 8.89% 13.16%
% of Gross Profit 29.0% 21.91% 28.65%
Operating Expenses $136.8M $130.2M $119.8M
YoY Change 14.19% 11.38% 14.64%
Operating Profit $252.3M $242.6M $192.9M
YoY Change 30.79% 17.54% 9.66%
Interest Expense -$28.00M -$25.40M -$24.30M
YoY Change 15.23% 8.55% 8.97%
% of Operating Profit -11.1% -10.47% -12.6%
Other Income/Expense, Net
YoY Change
Pretax Income $224.0M $216.9M $168.6M
YoY Change 32.86% 18.52% 9.77%
Income Tax $77.20M $77.80M $57.90M
% Of Pretax Income 34.46% 35.87% 34.34%
Net Earnings $268.9M $139.1M $110.6M
YoY Change 143.13% 16.5% 6.04%
Net Earnings / Revenue 15.97% 8.48% 7.49%
Basic Earnings Per Share $2.85 $1.47 $1.17
Diluted Earnings Per Share $2.84 $1.47 $1.17
COMMON SHARES
Basic Shares Outstanding 94.35M 93.60M 94.23M shares
Diluted Shares Outstanding 93.80M

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $216.9M $370.5M $239.3M
YoY Change -9.36% 32.42% 29.91%
Cash & Equivalents $216.9M $370.5M $239.3M
Short-Term Investments
Other Short-Term Assets $35.50M $43.40M $30.30M
YoY Change 17.16% -3.77% 5.21%
Inventory $762.5M $736.6M $723.6M
Prepaid Expenses
Receivables $830.7M $831.3M $689.2M
Other Receivables $69.50M $20.00M $13.90M
Total Short-Term Assets $1.915B $2.002B $1.696B
YoY Change 12.9% 14.59% 9.12%
LONG-TERM ASSETS
Property, Plant & Equipment $2.925B $2.882B $2.896B
YoY Change 1.01% 0.1% 2.25%
Goodwill $883.2M $732.1M $737.9M
YoY Change 19.69% 5.78% 35.64%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $64.30M $63.90M $80.00M
YoY Change -19.63% -14.34% 12.83%
Total Long-Term Assets $4.282B $4.025B $4.081B
YoY Change 4.94% 0.63% 9.76%
TOTAL ASSETS
Total Short-Term Assets $1.915B $2.002B $1.696B
Total Long-Term Assets $4.282B $4.025B $4.081B
Total Assets $6.198B $6.027B $5.777B
YoY Change 7.28% 4.87% 9.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $402.9M $379.5M $323.8M
YoY Change 24.43% 16.06% 10.06%
Accrued Expenses $203.2M $207.8M $201.2M
YoY Change 0.99% 1.42% 3.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $150.0M $156.5M $25.80M
YoY Change 481.4% 506.59% 296.92%
Total Short-Term Liabilities $832.7M $824.3M $625.4M
YoY Change 33.15% 29.3% 11.3%
LONG-TERM LIABILITIES
Long-Term Debt $2.480B $2.456B $2.620B
YoY Change -5.33% -6.46% 14.39%
Other Long-Term Liabilities $70.80M $68.20M $59.60M
YoY Change 18.79% 13.48% 0.17%
Total Long-Term Liabilities $3.182B $3.209B $3.392B
YoY Change -6.18% -5.06% 10.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $832.7M $824.3M $625.4M
Total Long-Term Liabilities $3.182B $3.209B $3.392B
Total Liabilities $4.015B $4.033B $4.017B
YoY Change -0.06% 0.39% 10.39%
SHAREHOLDERS EQUITY
Retained Earnings $1.867B $1.658B $1.447B
YoY Change 29.04% 18.71% 9.85%
Common Stock $472.1M $467.0M $452.3M
YoY Change 4.38% 4.5% 2.59%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.183B $1.994B $1.760B
YoY Change
Total Liabilities & Shareholders Equity $6.198B $6.027B $5.777B
YoY Change 7.28% 4.87% 9.57%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q4
OPERATING ACTIVITIES
Net Income $268.9M $139.1M $110.6M
YoY Change 143.13% 16.5% 6.04%
Depreciation, Depletion And Amortization $107.7M $87.00M $93.70M
YoY Change 14.94% 8.89% 13.16%
Cash From Operating Activities $272.8M $197.7M $213.4M
YoY Change 27.84% -9.02% -3.26%
INVESTING ACTIVITIES
Capital Expenditures -$117.7M -$88.20M -$87.20M
YoY Change 34.98% 26.91% -12.54%
Acquisitions
YoY Change
Other Investing Activities -$263.8M $1.500M -$99.70M
YoY Change 164.59% -100.39% -2365.91%
Cash From Investing Activities -$381.5M -$86.70M -$186.9M
YoY Change 104.12% -80.95% 96.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -44.90M -61.50M -67.00M
YoY Change -32.99% -120.24% -47.66%
NET CHANGE
Cash From Operating Activities 272.8M 197.7M 213.4M
Cash From Investing Activities -381.5M -86.70M -186.9M
Cash From Financing Activities -44.90M -61.50M -67.00M
Net Change In Cash -153.6M 49.50M -40.50M
YoY Change 279.26% -25.23% 1400.0%
FREE CASH FLOW
Cash From Operating Activities $272.8M $197.7M $213.4M
Capital Expenditures -$117.7M -$88.20M -$87.20M
Free Cash Flow $390.5M $285.9M $300.6M
YoY Change 29.91% -0.31% -6.15%

Facts In Submission

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CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2017Q3 pkg Allowance For Doubtful Accounts Receivable And Reserve For Customer Deductions Current
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11300000
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AllowanceForDoubtfulAccountsReceivableAndReserveForCustomerDeductionsCurrent
10100000
CY2017Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CommonStockParOrStatedValuePerShare
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CY2017Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2017Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
94400000
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
94200000
pkg Depreciation Depletion Amortization And Other Cash Flow Impact
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us-gaap Deferred Income Tax Expense Benefit
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6500000
us-gaap Increase Decrease In Income Taxes Receivable
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5100000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
385600000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
6900000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
9400000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
385000000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2100000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
178200000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
156700000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
100300000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10700000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10200000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-200000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
84800000
CY2017Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3316000000
CY2016Q3 us-gaap Depreciation
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79900000
us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
2600000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
30400000
CY2016 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
12800000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
4400000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-1100000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
35600000
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
30700000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93800000
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93600000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93700000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93700000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
131200000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
95600000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
184200000
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
279800000
us-gaap Nature Of Operations
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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-size:9pt;font-family:Times New Roman;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-size:9pt;font-family:Times New Roman;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 uncoated free sheet and coated one-side grades. During the third quarter of 2017, the Company announced that it will discontinue the production of uncoated free sheet and coated one-side grades at the Wallula, Washington mill in the second quarter of 2018 to begin the conversion of the No. 3 machine to a 400,000 ton-per-year virgin kraft linerboard machine. 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-size:9pt;font-family:Times New Roman;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-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The consolidated financial statements of PCA as of September&#160;30, 2017 and for the three and nine months ended September&#160;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&#160;10 of Regulation&#160;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 nine months ended September&#160;30, 2017 are not necessarily indicative of the results that may be expected for the year ending December&#160;31, 2017. These consolidated financial statements should be read in conjunction with our Annual Report on Form&#160;10-K for the year ended December&#160;31, 2016.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:9pt;font-family:Times New Roman;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>
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000
us-gaap Use Of Estimates
UseOfEstimates
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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 September&#160;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
CY2017Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1100000
CY2016Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
1100000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3400000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3400000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
138000000
CY2016Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
118200000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
396300000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
335500000
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93600000
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93400000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93500000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93600000
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000
CY2017Q3 pkg Recoveries And Cost Of Property Damage And Business Interruption
RecoveriesAndCostOfPropertyDamageAndBusinessInterruption
2600000
pkg Recoveries And Cost Of Property Damage And Business Interruption
RecoveriesAndCostOfPropertyDamageAndBusinessInterruption
100000
CY2017Q3 pkg Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
500000
CY2016Q3 pkg Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
2000000
pkg Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
800000
pkg Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
2300000
CY2017Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-3900000
CY2016Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-600000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-8600000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-3500000
CY2017Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
600000
CY2016Q3 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-2000000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-800000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-3500000
CY2017Q3 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
3300000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.339
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
208300000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
158800000
CY2017Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
263700000
CY2016Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
271900000
CY2017Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
13000000
CY2016Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
12900000
CY2017Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
214500000
CY2016Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
206500000
CY2017Q3 us-gaap Other Inventory Supplies
OtherInventorySupplies
245400000
CY2016Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
232300000
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6197600000
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6010300000
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3114600000
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P12Y3M19D
CY2017Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
462400000
CY2017Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
114600000
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
CY2017Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8400000
CY2016Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6300000
CY2017Q3 pkg Accrual For Franchise Property Sales And Use Taxes Current
AccrualForFranchisePropertySalesAndUseTaxesCurrent
22800000
CY2016Q4 pkg Accrual For Franchise Property Sales And Use Taxes Current
AccrualForFranchisePropertySalesAndUseTaxesCurrent
16700000
CY2017Q3 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
21000000
CY2016Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
18900000
us-gaap Interest Paid
InterestPaid
67200000
us-gaap Interest Paid
InterestPaid
59500000
CY2017Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1400000
CY2016Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
1400000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
4200000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
4200000
CY2017Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
500000
CY2016Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
500000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1500000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1400000
pkg Defined Benefit Plan Minimum Contributions By Employer
DefinedBenefitPlanMinimumContributionsByEmployer
8000000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
2023-05-01
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
10600000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1000000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5200000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4800000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15400000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15000000
CY2017Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2000000
CY2016Q3 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
5900000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5800000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3200000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3000000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
9500000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
9200000
CY2017Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
45200000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M19D
CY2017Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.63
CY2017Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
59400000
CY2016Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
200000000
CY2017Q3 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
-8600000
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-5400000
pkg Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months Net Of Tax
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonthsNetOfTax
-3300000
CY2017Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
4600000
CY2016Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
5000000
CY2017Q3 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
4600000
CY2016Q4 us-gaap Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
5000000

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