2020 Q1 Form 10-Q Financial Statement
#000156459020021593 Filed on May 06, 2020
Income Statement
| Concept | 2020 Q1 | 2019 Q1 |
|---|---|---|
| Revenue | $1.709B | $1.734B |
| YoY Change | -1.44% | 2.55% |
| Cost Of Revenue | $1.344B | $1.312B |
| YoY Change | 2.39% | -1.66% |
| Gross Profit | $365.0M | $421.4M |
| YoY Change | -13.38% | 18.34% |
| Gross Profit Margin | 21.36% | 24.31% |
| Selling, General & Admin | $145.9M | $140.0M |
| YoY Change | 4.21% | 3.78% |
| % of Gross Profit | 39.97% | 33.22% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $89.80M | $85.20M |
| YoY Change | 5.4% | -9.94% |
| % of Gross Profit | 24.6% | 20.22% |
| Operating Expenses | $145.9M | $140.0M |
| YoY Change | 4.21% | 3.78% |
| Operating Profit | $209.1M | $275.4M |
| YoY Change | -24.07% | 29.36% |
| Interest Expense | -$19.60M | -$24.10M |
| YoY Change | -18.67% | -6.59% |
| % of Operating Profit | -9.37% | -8.75% |
| Other Income/Expense, Net | $600.0K | -$3.300M |
| YoY Change | -118.18% | 371.43% |
| Pretax Income | $190.1M | $249.3M |
| YoY Change | -23.75% | 33.6% |
| Income Tax | $48.40M | $62.50M |
| % Of Pretax Income | 25.46% | 25.07% |
| Net Earnings | $141.7M | $186.8M |
| YoY Change | -24.14% | 33.33% |
| Net Earnings / Revenue | 8.29% | 10.77% |
| Basic Earnings Per Share | $1.50 | $1.98 |
| Diluted Earnings Per Share | $1.49 | $1.97 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 93.90M | 93.70M |
| Diluted Shares Outstanding | 94.30M | 94.00M |
Balance Sheet
| Concept | 2020 Q1 | 2019 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $856.3M | $442.4M |
| YoY Change | 93.56% | 332.03% |
| Cash & Equivalents | $764.0M | $442.4M |
| Short-Term Investments | $92.30M | |
| Other Short-Term Assets | $67.90M | $58.00M |
| YoY Change | 17.07% | 5.45% |
| Inventory | $809.9M | $831.7M |
| Prepaid Expenses | ||
| Receivables | $879.5M | $930.3M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $2.614B | $2.262B |
| YoY Change | 15.52% | 23.45% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $3.139B | $3.110B |
| YoY Change | 0.93% | 5.01% |
| Goodwill | $918.7M | $917.3M |
| YoY Change | 0.15% | 3.86% |
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $57.10M | |
| YoY Change | ||
| Other Assets | $55.10M | $53.10M |
| YoY Change | 3.77% | -15.71% |
| Total Long-Term Assets | $4.734B | $4.666B |
| YoY Change | 1.45% | 8.33% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $2.614B | $2.262B |
| Total Long-Term Assets | $4.734B | $4.666B |
| Total Assets | $7.348B | $6.929B |
| YoY Change | 6.05% | 12.85% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $389.0M | $405.1M |
| YoY Change | -3.97% | -5.2% |
| Accrued Expenses | $178.8M | $160.9M |
| YoY Change | 11.12% | 2.48% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $1.600M | $1.500M |
| YoY Change | 6.67% | |
| Total Short-Term Liabilities | $744.6M | $740.7M |
| YoY Change | 0.53% | 9.96% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $2.477B | $2.485B |
| YoY Change | -0.29% | 0.14% |
| Other Long-Term Liabilities | $605.8M | $56.90M |
| YoY Change | 964.67% | -9.54% |
| Total Long-Term Liabilities | $2.477B | $3.393B |
| YoY Change | -26.99% | 6.29% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $744.6M | $740.7M |
| Total Long-Term Liabilities | $2.477B | $3.393B |
| Total Liabilities | $3.222B | $4.134B |
| YoY Change | -22.06% | 6.93% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $2.428B | |
| YoY Change | 24.53% | |
| Common Stock | $502.3M | |
| YoY Change | 5.26% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $3.150B | $2.795B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $7.348B | $6.929B |
| YoY Change | 6.05% | 12.85% |
Cashflow Statement
| Concept | 2020 Q1 | 2019 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $141.7M | $186.8M |
| YoY Change | -24.14% | 33.33% |
| Depreciation, Depletion And Amortization | $89.80M | $85.20M |
| YoY Change | 5.4% | -9.94% |
| Cash From Operating Activities | $236.7M | $236.0M |
| YoY Change | 0.3% | 16.54% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $70.50M | $78.80M |
| YoY Change | -10.53% | -27.04% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$3.800M | |
| YoY Change | ||
| Cash From Investing Activities | -$77.00M | -$80.10M |
| YoY Change | -3.87% | -25.28% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -75.20M | -75.00M |
| YoY Change | 0.27% | -64.25% |
| NET CHANGE | ||
| Cash From Operating Activities | 236.7M | 236.0M |
| Cash From Investing Activities | -77.00M | -80.10M |
| Cash From Financing Activities | -75.20M | -75.00M |
| Net Change In Cash | 84.50M | 80.90M |
| YoY Change | 4.45% | -170.66% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $236.7M | $236.0M |
| Capital Expenditures | $70.50M | $78.80M |
| Free Cash Flow | $166.2M | $157.2M |
| YoY Change | 5.73% | 66.35% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
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-600000 | |
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Selling General And Administrative Expense
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Operating Costs And Expenses
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6000000.0 | |
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Operating Income Loss
OperatingIncomeLoss
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Cost Of Goods And Services Sold
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Gross Profit
GrossProfit
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365000000.0 | |
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Gross Profit
GrossProfit
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Operating Costs And Expenses
OperatingCostsAndExpenses
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10000000.0 | |
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Operating Income Loss
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Finite Lived Intangible Asset Useful Life
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Finite Lived Intangible Asset Useful Life
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Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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Earnings Per Share Diluted
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Interest Income Expense Net
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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Net Income Loss
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Net Income Loss
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Comprehensive Income Net Of Tax
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Cash And Cash Equivalents At Carrying Value
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Assets
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Assets
Assets
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Finance Lease Liability Noncurrent
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Depreciation Depletion Amortization And Other Cash Flow Impact
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Share Based Compensation
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Share Based Compensation
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Deferred Income Tax Expense Benefit
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Payments To Acquire Marketable Securities
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Repayments Of Debt And Capital Lease Obligations
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Repayments Of Debt And Capital Lease Obligations
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Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
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| CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
679500000 | |
| CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
361500000 | |
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
764000000.0 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
442400000 | |
| CY2020Q1 | pkg |
Common Stock Withheld To Cover Taxes On Vested And Retired Stock Awards Value
CommonStockWithheldToCoverTaxesOnVestedAndRetiredStockAwardsValue
|
0 | |
| CY2020Q1 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
75300000 | |
| CY2019Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
3071000000.0 | |
| CY2020Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
10100000 | |
| CY2020Q1 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
-100000 | |
| CY2020Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
144200000 | |
| CY2019Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
190100000 | |
| CY2019Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
2794600000 | |
| CY2020Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-top:6pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-top:6pt;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. 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 containerboard and corrugated packaging products. The Paper segment manufactures and sells a range of communication-based 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 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;">The consolidated financial statements of PCA as of March 31, 2020 and for the three months ended March 31, 2020 and 2019 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 notes required by accounting principles generally accepted in the United States for complete audited financial statements. Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2019.</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> | |
| CY2020Q1 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
1999-01-25 | |
| CY2020Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | |
| CY2020Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
The preparation of the consolidated financial statements involves the use of estimates and accruals. Actual results may vary from those estimates. | |
| CY2020Q1 | pkg |
New Accounting Standards Not Yet Adopted
NewAccountingStandardsNotYetAdopted
|
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">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-top:3pt;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;"><span style="Background-color:#FFFFFF;">In March 2020, the FASB issued ASU 2020-04, </span><span style="font-style:italic;Background-color:#FFFFFF;">Reference Rate Reform </span><span style="Background-color:#FFFFFF;">(Topic 848):</span><span style="font-style:italic;Background-color:#FFFFFF;"> Facilitation of the Effects of Reference Rate Reform on Financial Reporting.</span><span style="Background-color:#FFFFFF;"> ASU 2020-04 provides optional guidance for a limited period of time to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on financial reporting. The amendments in this Update are elective and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Companies can apply the ASU immediately, but the guidance will only be available until December 31, 2022. The Company is currently evaluating the impact of this guidance, but does not expect the guidance to have a significant impact on its related disclosures.</span></p> <p style="margin-top:3pt;margin-bottom:0pt;text-indent:4.54%;font-size:9pt;"> </p> <p style="margin-top:3pt;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;"><span style="Background-color:#FFFFFF;">In August 2018, the </span>FASB <span style="Background-color:#FFFFFF;">issued ASU 2018-14, </span><span style="font-style:italic;Background-color:#FFFFFF;">Compensation – Retirement Benefits – Defined Benefit Plans – General </span><span style="Background-color:#FFFFFF;">(Subtopic 715-20):</span><span style="font-style:italic;Background-color:#FFFFFF;"> Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans</span><span 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 of this guidance, but does not expect the guidance will have a significant impact on its related disclosures.</span></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> | |
| CY2020Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1708700000 | |
| CY2019Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
1733700000 | |
| CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
141700000 | |
| CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
186800000 | |
| CY2020Q1 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
1200000 | |
| CY2019Q1 | us-gaap |
Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
|
1400000 | |
| CY2020Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
140500000 | |
| CY2019Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
185400000 | |
| CY2020Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
93900000 | |
| CY2019Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
93700000 | |
| CY2020Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
400000 | |
| CY2019Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
300000 | |
| CY2020Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
94300000 | |
| CY2019Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
94000000.0 | |
| CY2020Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.50 | |
| CY2019Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.98 | |
| CY2020Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.49 | |
| CY2019Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.97 | |
| CY2020Q1 | pkg |
Business Exit And Other Costs
BusinessExitAndOtherCosts
|
400000 | |
| CY2020Q1 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
10000000.0 | |
| CY2019Q1 | us-gaap |
Operating Costs And Expenses
OperatingCostsAndExpenses
|
6000000.0 | |
| CY2020Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
48400000 | |
| CY2019Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
62500000 | |
| CY2020Q1 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
| CY2020Q1 | us-gaap |
Inventory Net
InventoryNet
|
809900000 | |
| CY2019Q4 | us-gaap |
Inventory Net
InventoryNet
|
794100000 | |
| CY2020Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
7054900000 | |
| CY2020Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
3916300000 | |
| CY2020Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3138600000 | |
| CY2019Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3151700000 | |
| CY2020Q1 | us-gaap |
Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
|
0 | |
| CY2020Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
542900000 | |
| CY2020Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
213700000 | |
| CY2019Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
542900000 | |
| CY2019Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
204100000 | |
| CY2020Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
9600000 | |
| CY2020Q1 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
85000000.0 | |
| CY2019Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
124500000 | |
| CY2020Q1 | pkg |
Accrued Medical Insurance And Workers Compensation Current
AccruedMedicalInsuranceAndWorkersCompensationCurrent
|
26300000 | |
| CY2019Q4 | pkg |
Accrued Medical Insurance And Workers Compensation Current
AccruedMedicalInsuranceAndWorkersCompensationCurrent
|
26300000 | |
| CY2020Q1 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
24000000.0 | |
| CY2019Q4 | us-gaap |
Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
|
27900000 | |
| CY2020Q1 | pkg |
Accrual For Franchise Property Sales And Use Taxes Current
AccrualForFranchisePropertySalesAndUseTaxesCurrent
|
19100000 | |
| CY2020Q1 | us-gaap |
Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
|
5100000 | |
| CY2019Q4 | us-gaap |
Accrued Environmental Loss Contingencies Current
AccruedEnvironmentalLossContingenciesCurrent
|
5600000 | |
| CY2020Q1 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
4100000 | |
| CY2019Q4 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
3500000 | |
| CY2020Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
15200000 | |
| CY2019Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
14400000 | |
| CY2020Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
178800000 | |
| CY2019Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
217500000 | |
| CY2019Q1 | us-gaap |
Interest Paid
InterestPaid
|
7300000 | |
| CY2020Q1 | us-gaap |
Interest Paid
InterestPaid
|
7300000 | |
| CY2020Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
500000 | |
| CY2019Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
700000 | |
| CY2019Q1 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
1300000 | |
| CY2020Q1 | us-gaap |
Investment Owned At Cost
InvestmentOwnedAtCost
|
913700000 | |
| CY2020Q1 | us-gaap |
Unrealized Gain On Securities
UnrealizedGainOnSecurities
|
500000 | |
| CY2020Q1 | us-gaap |
Unrealized Loss On Securities
UnrealizedLossOnSecurities
|
800000 | |
| CY2020Q1 | us-gaap |
Investment Owned At Fair Value
InvestmentOwnedAtFairValue
|
913400000 | |
| CY2020Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
764000000.0 | |
| CY2020Q1 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
92300000 | |
| CY2020Q1 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
57100000 | |
| CY2019Q4 | us-gaap |
Investment Owned At Cost
InvestmentOwnedAtCost
|
825500000 | |
| CY2019Q4 | us-gaap |
Investment Owned At Fair Value
InvestmentOwnedAtFairValue
|
825500000 | |
| CY2019Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
679500000 | |
| CY2019Q4 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
87900000 | |
| CY2019Q4 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
58100000 | |
| CY2020Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
104900000 | |
| CY2020Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
108 | |
| CY2020Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
800000 | |
| CY2019Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
78100000 | |
| CY2019Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
71 | |
| CY2020Q1 | us-gaap |
Defined Benefit Plan Expected Future Employer Contributions Current Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsCurrentFiscalYear
|
19800000 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
|
2030-05-05 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
1400000 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
11950000 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
100000 | |
| CY2020Q1 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
2500000 | |
| CY2019Q1 | us-gaap |
Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
|
1700000 | |
| CY2020Q1 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
7600000 | |
| CY2019Q1 | us-gaap |
Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
|
5200000 | |
| CY2020Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
63200000 | |
| CY2020Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
74800000 | |
| CY2020Q1 | us-gaap |
Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
|
0.79 | |
| CY2016Q1 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
200000000.0 | |
| CY2020Q1 | pkg |
Repurchases Of Common Stock Under Stock Repurchase Program
RepurchasesOfCommonStockUnderStockRepurchaseProgram
|
0 | |
| CY2020Q1 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
193000000.0 | |
| CY2020Q1 | us-gaap |
Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
|
200000 | |
| CY2020Q1 | us-gaap |
Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
|
-2700000 | |
| CY2020Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-19600000 | |
| CY2020Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | |
| CY2020Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
209100000 | |
| CY2020Q1 | pkg |
Non Operating Pension Income Expense
NonOperatingPensionIncomeExpense
|
600000 | |
| CY2020Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
190100000 | |
| CY2019Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
275400000 | |
| CY2019Q1 | pkg |
Non Operating Pension Income Expense
NonOperatingPensionIncomeExpense
|
-2000000.0 | |
| CY2019Q1 | us-gaap |
Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
|
-24100000 | |
| CY2019Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
249300000 |
