2018 Q4 Form 10-Q Financial Statement
#000156459018027821 Filed on November 07, 2018
Income Statement
| Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
|---|---|---|---|
| Revenue | $1.747B | $1.810B | $1.640B |
| YoY Change | 3.7% | 10.35% | 10.52% |
| Cost Of Revenue | $1.321B | $1.367B | $1.243B |
| YoY Change | 0.65% | 9.94% | 7.67% |
| Gross Profit | $425.4M | $443.2M | $397.0M |
| YoY Change | 14.54% | 11.64% | 20.49% |
| Gross Profit Margin | 24.36% | 24.49% | 24.21% |
| Selling, General & Admin | $129.7M | $134.2M | $130.2M |
| YoY Change | -2.99% | 3.07% | 11.38% |
| % of Gross Profit | 30.49% | 30.28% | 32.8% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $97.30M | $89.00M | $87.00M |
| YoY Change | -9.66% | 2.3% | 8.89% |
| % of Gross Profit | 22.87% | 20.08% | 21.91% |
| Operating Expenses | $132.4M | $134.2M | $130.2M |
| YoY Change | -3.22% | 3.07% | 11.38% |
| Operating Profit | $286.7M | $298.5M | $242.6M |
| YoY Change | 13.63% | 23.04% | 17.54% |
| Interest Expense | -$20.90M | -$23.90M | -$25.40M |
| YoY Change | -25.36% | -5.91% | 8.55% |
| % of Operating Profit | -7.29% | -8.01% | -10.47% |
| Other Income/Expense, Net | -$1.300M | -$1.300M | |
| YoY Change | |||
| Pretax Income | $264.5M | $274.1M | $216.9M |
| YoY Change | 18.08% | 26.37% | 18.52% |
| Income Tax | $61.90M | $67.40M | $77.80M |
| % Of Pretax Income | 23.4% | 24.59% | 35.87% |
| Net Earnings | $204.6M | $206.7M | $139.1M |
| YoY Change | -23.91% | 48.6% | 16.5% |
| Net Earnings / Revenue | 11.71% | 11.42% | 8.48% |
| Basic Earnings Per Share | $2.17 | $2.19 | $1.47 |
| Diluted Earnings Per Share | $2.16 | $2.18 | $1.47 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 94.50M | 93.70M | 93.60M |
| Diluted Shares Outstanding | 94.00M | 93.80M |
Balance Sheet
| Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $361.5M | $293.8M | $370.5M |
| YoY Change | 66.67% | -20.7% | 32.42% |
| Cash & Equivalents | $361.5M | $293.8M | $370.5M |
| Short-Term Investments | $0.00 | ||
| Other Short-Term Assets | $39.40M | $49.00M | $43.40M |
| YoY Change | 10.99% | 12.9% | -3.77% |
| Inventory | $795.6M | $780.6M | $736.6M |
| Prepaid Expenses | |||
| Receivables | $901.9M | $986.2M | $831.3M |
| Other Receivables | $16.70M | $5.100M | $20.00M |
| Total Short-Term Assets | $2.115B | $2.115B | $2.002B |
| YoY Change | 10.44% | 5.64% | 14.59% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $3.109B | $3.065B | $2.882B |
| YoY Change | 6.28% | 6.37% | 0.1% |
| Goodwill | $917.3M | $888.7M | $732.1M |
| YoY Change | 3.86% | 21.39% | 5.78% |
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $50.50M | $57.60M | $63.90M |
| YoY Change | -21.46% | -9.86% | -14.34% |
| Total Long-Term Assets | $4.455B | $4.385B | $4.025B |
| YoY Change | 4.02% | 8.94% | 0.63% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $2.115B | $2.115B | $2.002B |
| Total Long-Term Assets | $4.455B | $4.385B | $4.025B |
| Total Assets | $6.570B | $6.500B | $6.027B |
| YoY Change | 6.01% | 7.84% | 4.87% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $382.2M | $438.9M | $379.5M |
| YoY Change | -5.14% | 15.65% | 16.06% |
| Accrued Expenses | $222.4M | $223.4M | $207.8M |
| YoY Change | 9.45% | 7.51% | 1.42% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $0.00 | $0.00 | $156.5M |
| YoY Change | -100.0% | -100.0% | 506.59% |
| Total Short-Term Liabilities | $693.6M | $766.5M | $824.3M |
| YoY Change | -16.7% | -7.01% | 29.3% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $2.484B | $2.483B | $2.456B |
| YoY Change | 0.13% | 1.08% | -6.46% |
| Other Long-Term Liabilities | $59.70M | $63.00M | $68.20M |
| YoY Change | -15.68% | -7.62% | 13.48% |
| Total Long-Term Liabilities | $3.204B | $3.203B | $3.209B |
| YoY Change | 0.68% | -0.17% | -5.06% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $693.6M | $766.5M | $824.3M |
| Total Long-Term Liabilities | $3.204B | $3.203B | $3.209B |
| Total Liabilities | $3.897B | $3.970B | $4.033B |
| YoY Change | -2.93% | -1.57% | 0.39% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | $2.316B | $2.186B | $1.658B |
| YoY Change | 24.01% | 31.8% | 18.71% |
| Common Stock | $495.4M | $489.8M | $467.0M |
| YoY Change | 4.94% | 4.88% | 4.5% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $2.672B | $2.530B | $1.994B |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $6.570B | $6.500B | $6.027B |
| YoY Change | 6.01% | 7.84% | 4.87% |
Cashflow Statement
| Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $204.6M | $206.7M | $139.1M |
| YoY Change | -23.91% | 48.6% | 16.5% |
| Depreciation, Depletion And Amortization | $97.30M | $89.00M | $87.00M |
| YoY Change | -9.66% | 2.3% | 8.89% |
| Cash From Operating Activities | $345.6M | $301.0M | $197.7M |
| YoY Change | 26.69% | 52.25% | -9.02% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$147.5M | -$131.8M | -$88.20M |
| YoY Change | 25.32% | 49.43% | 26.91% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$55.40M | $0.00 | $1.500M |
| YoY Change | -79.0% | -100.0% | -100.39% |
| Cash From Investing Activities | -$202.9M | -$131.8M | -$86.70M |
| YoY Change | -46.82% | 52.02% | -80.95% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -75.00M | -75.00M | -61.50M |
| YoY Change | 67.04% | 21.95% | -120.24% |
| NET CHANGE | |||
| Cash From Operating Activities | 345.6M | 301.0M | 197.7M |
| Cash From Investing Activities | -202.9M | -131.8M | -86.70M |
| Cash From Financing Activities | -75.00M | -75.00M | -61.50M |
| Net Change In Cash | 67.70M | 94.20M | 49.50M |
| YoY Change | -144.08% | 90.3% | -25.23% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $345.6M | $301.0M | $197.7M |
| Capital Expenditures | -$147.5M | -$131.8M | -$88.20M |
| Free Cash Flow | $493.1M | $432.8M | $285.9M |
| YoY Change | 26.27% | 51.38% | -0.31% |
Facts In Submission
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Earnings Per Share Diluted
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NatureOfOperations
|
<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 communication-based papers. During the second quarter of 2018, the Company discontinued the production of uncoated free sheet and coated one-side grades at the Wallula, Washington mill and converted the No. 3 machine to a virgin kraft linerboard machine. Subsequent to the date of conversion in May 2018, operating results for the Wallula mill are primarily included in the Packaging segment. 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 18 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 30, 2018 and for the three and nine months ended September 30, 2018 and 2017 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 nine months ended September 30, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2017.</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> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:9pt;"> </p></div> | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div> <p style="margin-top:12pt;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%;">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 |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
93500000 | ||
| pkg |
New Accounting Standards Not Yet Adopted
NewAccountingStandardsNotYetAdopted
|
<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:4.54%;">New Accounting Standards Not Yet Adopted</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:6pt;"> </p> <p style="margin-bottom:0pt;margin-top: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%;"><font style="Background-color:#FFFFFF;">In August 2018, the </font>Financial Accounting Standards Board (“FASB”) <font style="Background-color:#FFFFFF;">issued ASU 2018-14, </font><font style="font-style:italic;Background-color:#FFFFFF;">Compensation – Retirement Benefits – Defined Benefit Plans – General </font><font style="Background-color:#FFFFFF;">(Subtopic 715-20):</font><font style="font-style:italic;Background-color:#FFFFFF;"> Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans</font><font style="Background-color:#FFFFFF;">. ASU 2018-14 removes certain disclosures that are not considered cost beneficial, clarifies certain required disclosures and adds additional disclosures. The ASU is effective for annual periods beginning after December 31, 2020, with early adoption permitted. The amendments in ASU 2018-14 would need to be applied on a retrospective basis.  The Company is currently evaluating the impact this guidance will have on its related disclosures.</font></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 August 2018, the FASB issued ASU 2018-13, <font style="font-style:italic;">Fair Value Measurement</font> (Topic 820): <font style="font-style:italic;">Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement.</font> ASU 2018-13 removes or modifies certain disclosure requirements and adds additional requirements to improve the usefulness of the fair value measurement disclosure for financial statement users. The ASU is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted. Certain amendments of ASU 2018-13 are required to be applied prospectively for the first interim period of the initial year of adoption. All other amendments need to be applied retrospectively. <font style="Background-color:#FFFFFF;">The Company is currently evaluating the impact of the new guidance.</font></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 February 2018, the FASB issued ASU 2018-02 (Topic 220): <font style="font-style:italic;">Income Statement –</font> <font style="font-style:italic;">R</font><font style="font-style:italic;Background-color:#FFFFFF;">eporting Comprehensive Income</font><font style="Background-color:#FFFFFF;"> – </font><font style="font-style:italic;Background-color:#FFFFFF;">Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income</font><font style="Background-color:#FFFFFF;">, which allows for optional reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects resulting from the enactment of H.R.1 (P.L. 115-97), originally known as the “Tax Cuts and Jobs Act,” in December 2017. An entity that elects to reclassify these amounts must reclassify stranded tax effects related to the change in federal tax rate for all items accounted for in other comprehensive income (e.g., pension and postretirement benefits and cash flow hedges). Entities may also elect to reclassify other stranded tax effects that relate to the Act but do not directly relate to the change in the federal tax rate (e.g., state taxes). Upon adoption of ASU 2018-02, entities are required to disclose their policy for releasing the income tax effects from accumulated other comprehensive income. ASU 2018-02 is effective for annual periods beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect this ASU to have a material impact on the Company’s financial position, results of operations, or cash flow.</font></p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:9pt;letter-spacing:-0.1pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2016, the FASB issued ASU 2016-02 (Topic 842): <font style="font-style:italic;">Leases</font>. This ASU amends a number of aspects of lease accounting, including requiring lessees to recognize operating leases with a term greater than one year on their balance sheet as a right-of-use asset and corresponding lease liability, measured at the present value of the lease payments. Additionally, the guidance requires qualitative and quantitative disclosures designed to assess the amount, timing and uncertainty of cash flows arising from leases. In July 2018, the FASB issued ASU 2018-10: <font style="font-style:italic;">Codification Improvements to Topic 842, Leases</font> and ASU 2018-11: <font style="font-style:italic;">Leases (Topic 842): Targeted Improvements</font>. These ASUs provide clarification to the lease standard and allow entities an optional transition method for implementing ASU 2016-02 and a lessor practical expedient for separating lease and non-lease components. The optional transition method allows companies the option to use the effective date as the date of initial application on transition. The Company plans to elect this transition method, and as a result, we will not adjust our comparative period financial information or make the new required lease disclosures for periods before the effective date.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:9pt;letter-spacing:-0.1pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ASU 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, and early adoption is permitted. We are in the process of implementing changes to our systems and processes in conjunction with our review of existing lease agreements, which primarily consist of equipment and real estate leases. In addition, we are currently working with a vendor to implement a technology tool to assist with the accounting and reporting requirements of the new standard. We will adopt Topic 842 effective January 1, 2019 and expect to elect certain available transitional practical expedients. We are still in the process of determining the effects on our financial statements but do expect to recognize a liability and corresponding asset associated with in-scope operating leases.</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;">There were no other accounting standards recently issued that had or are expected to have a material impact on our financial position or results of operations.</p></div> | ||
| CY2018Q3 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
300000 | |
| CY2017Q3 | 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 | ||
| dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
1999-01-25 | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | ||
| CY2018Q3 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
1600000 | |
| CY2017Q3 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
1100000 | |
| us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
4100000 | ||
| us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
3400000 | ||
| CY2018Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
205100000 | |
| CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
138000000 | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
529300000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
396300000 | ||
| CY2018Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
93700000 | |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
93600000 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
93700000 | ||
| us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
200000 | ||
| CY2018Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
94000000 | |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
93800000 | |
| CY2017Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5200000 | |
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.244 | ||
| CY2018Q3 | us-gaap |
Depreciation
Depreciation
|
89000000 | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
93900000 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
93700000 | ||
| CY2018Q3 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-5100000 | |
| CY2017Q3 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-3900000 | |
| us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-14400000 | ||
| us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-8600000 | ||
| CY2018Q3 | pkg |
Business Exit And Other Costs
BusinessExitAndOtherCosts
|
1500000 | |
| CY2017Q3 | pkg |
Business Exit And Other Costs
BusinessExitAndOtherCosts
|
900000 | |
| CY2018Q3 | pkg |
Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
|
100000 | |
| CY2017Q3 | pkg |
Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
|
500000 | |
| pkg |
Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
|
100000 | ||
| pkg |
Business Combination Acquisition And Integration Related Costs
BusinessCombinationAcquisitionAndIntegrationRelatedCosts
|
800000 | ||
| CY2018Q3 | pkg |
Charges Related To Insurance Deductible For Property Damage
ChargesRelatedToInsuranceDeductibleForPropertyDamage
|
500000 | |
| pkg |
Charges Related To Insurance Deductible For Property Damage
ChargesRelatedToInsuranceDeductibleForPropertyDamage
|
500000 | ||
| us-gaap |
Disposal Group Including Discontinued Operation Other Income
DisposalGroupIncludingDiscontinuedOperationOtherIncome
|
2300000 | ||
| CY2018Q3 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
400000 | |
| CY2017Q3 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
600000 | |
| us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
-4000000 | ||
| us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
-800000 | ||
| CY2017 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.35 | |
| us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | ||
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Tax Cuts And Jobs Act Of2017 Maximum Measurement Period To Finalize Accounting Of Tax
TaxCutsAndJobsActOf2017MaximumMeasurementPeriodToFinalizeAccountingOfTax
|
P1Y | ||
| CY2018Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.246 | |
| CY2017Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.359 | |
| CY2018Q3 | pkg |
Tax Cuts And Jobs Act Of2017 Decrease In Federal Tax Rate
TaxCutsAndJobsActOf2017DecreaseInFederalTaxRate
|
0.140 | |
| pkg |
Tax Cuts And Jobs Act Of2017 Decrease In Federal Tax Rate
TaxCutsAndJobsActOf2017DecreaseInFederalTaxRate
|
0.140 | ||
| CY2018Q3 | us-gaap |
Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
|
0.032 | |
| us-gaap |
Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
|
0.032 | ||
| CY2018Q3 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.008 | |
| us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.008 | ||
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
73200000 | ||
| us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
208300000 | ||
| CY2018Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
317900000 | |
| CY2017Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
279800000 | |
| CY2018Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
14900000 | |
| CY2017Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
12600000 | |
| CY2018Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
180400000 | |
| CY2017Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
217000000 | |
| CY2018Q3 | us-gaap |
Other Inventory Supplies
OtherInventorySupplies
|
267400000 | |
| CY2017Q4 | us-gaap |
Other Inventory Supplies
OtherInventorySupplies
|
253100000 | |
| CY2018Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
6588300000 | |
| CY2017Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
6311200000 | |
| CY2018Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3523200000 | |
| CY2017Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3386300000 | |
| CY2017Q3 | us-gaap |
Depreciation
Depreciation
|
87000000 | |
| us-gaap |
Depreciation
Depreciation
|
275300000 | ||
| us-gaap |
Depreciation
Depreciation
|
253000000 | ||
| us-gaap |
Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
|
14000000 | ||
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
46200000 | ||
| CY2017 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
29800000 | |
| us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P11Y1M6D | ||
| CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
529600000 | |
| CY2018Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
155700000 | |
| CY2017 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P11Y8M12D | |
| CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
535000000 | |
| CY2017Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
125000000 | |
| CY2018Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
10200000 | |
| CY2017Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
8400000 | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
30700000 | ||
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
25300000 | ||
| CY2018Q3 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
131100000 | |
| CY2017Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
127500000 | |
| CY2018Q3 | pkg |
Accrued Medical Insurance And Workers Compensation Current
AccruedMedicalInsuranceAndWorkersCompensationCurrent
|
27000000 | |
| CY2017Q4 | pkg |
Accrued Medical Insurance And Workers Compensation Current
AccruedMedicalInsuranceAndWorkersCompensationCurrent
|
23900000 | |
| CY2018Q3 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
21500000 | |
| CY2017Q4 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
23400000 | |
| CY2018Q3 | pkg |
Accrual For Franchise Property Sales And Use Taxes Current
AccrualForFranchisePropertySalesAndUseTaxesCurrent
|
21300000 | |
| CY2017Q4 | pkg |
Accrual For Franchise Property Sales And Use Taxes Current
AccrualForFranchisePropertySalesAndUseTaxesCurrent
|
16000000 | |
| CY2018Q3 | us-gaap |
Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
|
4700000 | |
| CY2017Q4 | us-gaap |
Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
|
4000000 | |
| CY2018Q3 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
3300000 | |
| CY2017Q4 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
3100000 | |
| CY2018Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
14500000 | |
| CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
5300000 | |
| CY2018Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
2496200000 | |
| CY2017Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
2645700000 | |
| CY2018Q3 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
0 | |
| CY2018Q3 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
13300000 | |
| CY2017Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
15300000 | |
| CY2018Q3 | us-gaap |
Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
|
0.0364 | |
| CY2017Q4 | us-gaap |
Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
|
0.0380 | |
| us-gaap |
Interest Paid
InterestPaid
|
58600000 | ||
| us-gaap |
Interest Paid
InterestPaid
|
67200000 | ||
| CY2018Q3 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
1300000 | |
| CY2017Q3 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
1400000 | |
| us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
4000000 | ||
| us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
4200000 | ||
| CY2018Q3 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
700000 | |
| CY2017Q3 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
500000 | |
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
2000000 | ||
| us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
1500000 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
|
2023-05-01 | ||
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
10600000 | |
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
700000 | |
| CY2018Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6600000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
17400000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
15400000 | ||
| CY2018Q3 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
1600000 | |
| CY2017Q3 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
2000000 | |
| us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
4400000 | ||
| us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
5900000 | ||
| CY2018Q3 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
5000000 | |
| CY2017Q3 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
3200000 | |
| us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
13000000 | ||
| us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
9500000 | ||
| CY2018Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
52200000 | |
| us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y8M12D | ||
| us-gaap |
Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
|
2018-08-30 | ||
| CY2018Q3 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.79 | |
| CY2016Q1 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
200000000 | |
| pkg |
Repurchases Of Common Stock Under Stock Repurchase Program
RepurchasesOfCommonStockUnderStockRepurchaseProgram
|
0 | ||
| CY2018Q3 | pkg |
Repurchases Of Common Stock Under Stock Repurchase Program
RepurchasesOfCommonStockUnderStockRepurchaseProgram
|
0 | |
| CY2018Q3 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
193000000 | |
| us-gaap |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
|
-11800000 | ||
| us-gaap |
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
|
-5200000 | ||
| pkg |
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months Net Of Tax
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonthsNetOfTax
|
-3900000 | ||
| CY2018Q3 | us-gaap |
Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
|
3500000 | |
| CY2017Q4 | us-gaap |
Variable Interest Entity Consolidated Carrying Amount Assets
VariableInterestEntityConsolidatedCarryingAmountAssets
|
3000000 | |
| CY2018Q3 | us-gaap |
Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
|
3500000 | |
| CY2017Q4 | us-gaap |
Variable Interest Entity Consolidated Carrying Amount Liabilities
VariableInterestEntityConsolidatedCarryingAmountLiabilities
|
3000000 |
