View Filing Data

Selling, general and administrative expenses

$ 1,690.6

$ 1,536.5

Cost of sales

(1,334.5)

(1,198.3)

Gross profit

356.1

338.2

(134.9)

(127.8)

Other expense, net

(8.3)

(7.0)

Income from operations

^[1]

212.9

203.4

^[1]

(26.3)

(24.3)

Provision for income taxes

^[1]

186.6

179.1

(46.5)

(61.7)

Dividends declared per common share

$ 140.1

$ 117.4

Net income per common share:

Basic

$ 1.48

$ 1.25

Diluted

1.48

1.24

$ 0.63

Statements of Comprehensive Income:

Foreign currency translation adjustment

$ 140.1

$ 117.4

(0.1)

(0.2)

Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.4 million and $0.5 million

1.0

0.9

Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.0 million and $1.2 million

3.0

2.2

Other comprehensive income

3.9

2.9

Comprehensive income

$ 144.0

$ 120.3

[1]

(a)Effective January 1, 2018, the Company adopted ASU 2017-07, Compensation: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost and applied this standard retrospectively to the prior period reflected herein. This new standard requires the presentation of non-service cost components of net periodic benefits expense to be shown separately outside the subtotal of operating income in the income statement. See Note 2, New and Recently Adopted Accounting Standards, for more information. The components of our financial statements affected by the change in presentation of operating and non-operating pension expense as originally reported in 2017 and as adjusted for the requirements per the new standard are as follows (dollars in millions): Segment income (loss) March 31, 2017 As Reported Non-Operating Pension Adjustment March 31, 2017 Adjusted Packaging $190.8 $1.7 $192.5 Paper 29.8 (1.9) 27.9 Corporate (17.5) 0.5 (17.0) Income from operations 203.1 0.3 203.4 Interest expense, net and other (24.0) (0.3) (24.3) Income before taxes $179.1 $— $179.1

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Reclassification adjustments to cash flow hedges included in net income, tax	$ 0.4	$ 0.5
Amortization of pension and postretirement plans actuarial loss and prior service cost, tax	$ 1.0	$ 1.2

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 102.4	$ 216.9
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $13.1 million and $12.6 million as of March 31, 2018, and December 31, 2017, respectively	860.2	830.7
Inventories	766.4	762.5
Prepaid expenses and other current assets	55.0	35.5
Federal and state income taxes receivable	48.6	69.5
Total current assets	1,832.6	1,915.1
Property, plant, and equipment, net	2,961.4	2,924.9
Goodwill	883.2	883.2
Other intangible assets, net	399.6	410.0
Other long-term assets	63.0	64.3
Total assets	6,139.8	6,197.5
Current liabilities:
Current maturities of long-term debt	0.0	150.0
Capital lease obligations	1.4	1.3
Accounts payable	427.3	402.9
Dividends payable	60.6	60.5
Accrued liabilities	157.0	203.2
Accrued interest	27.3	14.8
Total current liabilities	673.6	832.7
Long-term liabilities:
Long-term debt	2,481.2	2,480.4
Capital lease obligations	18.6	19.0
Deferred income taxes	256.7	239.5
Compensation and benefits	373.0	372.5
Other long-term liabilities	62.9	70.8
Total long-term liabilities	3,192.4	3,182.2
Commitments and contingent liabilities
Stockholders' equity:
Common stock, par value $0.01 per share, 300.0 million shares authorized, 94.3 million shares issued as of March 31, 2018, and December 31, 2017	0.9	0.9
Additional paid in capital	476.3	471.2
Retained earnings	1,949.6	1,867.4
Accumulated other comprehensive loss	(153.0)	(156.9)
Total stockholders' equity	2,273.8	2,182.6
Total liabilities and stockholders' equity	$ 6,139.8	$ 6,197.5

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts and customer deductions	$ 13.1	$ 12.6
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	94,300,000	94,300,000

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows from Operating Activities:
Net income	$ 140.1	$ 117.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization of intangibles	108.1	92.5
Amortization of deferred financing costs	2.3	2.0
Share-based compensation expense	5.1	4.6
Deferred income tax provision	15.9	12.2
Pension and post retirement benefits expense, net of contributions	3.9	1.1
Other, net	(1.0)	(1.8)
Increase in assets —
Accounts receivable	(22.9)	(44.1)
Inventories	(8.4)	(20.9)
Prepaid expenses and other current assets	(17.0)	(15.4)
Increase (decrease) in liabilities —
Accounts payable	(1.0)	25.6
Accrued liabilities	(42.9)	(48.5)
Federal and state income taxes payable / receivable	20.3	39.4
Net cash provided by operating activities	202.5	164.1
Cash Flows from Investing Activities:
Additions to property, plant, and equipment	(108.0)	(57.8)
Additions to other long term assets	(1.9)	(2.9)
Proceeds from disposals	0.1	1.7
Other, net	2.6	1.2
Net cash used for investing activities	(107.2)	(57.8)
Cash Flows from Financing Activities:
Repayments of debt and capital lease obligations	(150.3)	(31.7)
Common stock dividends paid	(59.4)	(59.4)
Shares withheld to cover employee restricted stock taxes	(0.1)	(0.5)
Net cash used for financing activities	(209.8)	(91.6)
Net increase (decrease) in cash and cash equivalents	(114.5)	14.7
Cash and cash equivalents, beginning of period	216.9	239.3
Cash and cash equivalents, end of period	$ 102.4	$ 254.0

Nature of Operations and Basis of Presentation

3 Months Ended

Mar. 31, 2018

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Nature of Operations and Basis of Presentation

1.	Nature of Operations and Basis of Presentation

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.

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 papers, including communication-based papers and pressure sensitive papers. Corporate and other includes support staff services and related assets and liabilities, transportation assets, and activity related to other ancillary support operations. For more information about our segments, see Note 18 Segment Information.

In these consolidated financial statements, certain amounts in prior periods' consolidated financial statements have been reclassified to conform with the current period presentation.

The consolidated financial statements of PCA as of March 31, 2018 and for the three months ended March 31, 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 months ended March 31, 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.

The consolidated financial statements include the accounts of PCA and its majority-owned subsidiaries after elimination of intercompany balances and transactions.

New and Recently Adopted Accounting Standards

3 Months Ended

Mar. 31, 2018

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

New and Recently Adopted Accounting Standards

2.	New and Recently Adopted Accounting Standards

Recently Adopted Accounting Standards

Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2014-09 (Topic 606): Revenue from Contracts with Customers. This ASU supersedes the revenue recognition requirements in Topic 605 Revenue Recognition (Topic 605) and requires entities to recognize revenue when control of the promised goods or services is transferred to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and estimates, and changes in those estimates. The Company adopted the standard utilizing the modified retrospective method, in which case the cumulative effect was recognized at the date of initial application on January 1, 2018. The adoption of the standard did not have a material effect on the Company’s financial position or results of operations; however, the following adjustment and reclassification of certain costs were made for the three months ended March 31, 2018:

a. The Company ships a portion of its products to customers under consignment agreements. These products do not have an alternative use, and, under the new standard, revenue associated with these products is required to be recognized earlier than under prior revenue recognition standards. Utilizing the modified retrospective method, the cumulative impact of adopting the new standard resulted in an increase of approximately $1.6 million, net of tax, to opening retained earnings as of January 1, 2018.

b. The new revenue standard also provides additional clarity concerning contract fulfillment costs, which resulted in certain costs being classified as cost of sales rather than selling, general and administrative expenses beginning January 1, 2018. For the three months ended March 31, 2018, this amount totaled $6.2 million.

See Note 3, Revenue, for more information.

Effective January 1, 2018, the Company adopted ASU 2017-07, Compensation: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The guidance in this update requires that an employer disaggregate the service cost component from the other components of net benefit cost. Non-service cost components of net periodic benefit cost are required to be presented in the income statement separately from the service cost component and outside the subtotal of operating income. The update also allows only the service cost component to be eligible for capitalization for internally developed capital projects. The amendments in this update are applied retrospectively for the income statement presentations and prospectively for the capitalization of service costs.

The adoption of this ASU retrospectively resulted in a $0.3 million reclassification between cost of sales and selling, general and administrative expenses (both components of income from operations) and interest expense, net and other (a component outside of income from operations) for the three months ended March 31, 2017.

Effective January 1, 2018, the Company adopted ASU 2017-09 Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting, which clarifies what changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. This ASU will be applied prospectively when changes to the terms or conditions of a share-based payment award occur.

Effective January 1, 2018, the Company adopted ASU 2017-01 (Topic 805), Clarifying the Definition of a Business, which amends the guidance in ASC 805, “Business Combinations”. The ASU changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. Under the new guidance, an entity first determines whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the set is not a business. If it is not met, the entity then evaluates whether the set meets the requirements that a business include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs. The ASU defines an output as “the result of inputs and processes applied to those inputs that provide goods or services to customers, investment income (such as dividends or interest), or other revenues.” The ASU will be applied prospectively to any transactions subsequent to adoption.

Effective January 1, 2018, the Company adopted ASU 2016-15 (Topic 230), Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments. This ASU adds or clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The adoption of this guidance did not have a material impact on the Company's financial condition, results of operations, or cash flows.

New Accounting Standards Not Yet Adopted

In February 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-02 (Topic 220): Income Statement – Reporting Comprehensive Income – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, 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.

In February 2016, the FASB issued ASU 2016-02 (Topic 842): Leases. 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. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, and early adoption is permitted. This ASU is required to be adopted using a modified retrospective approach. We are in the process of implementing changes to our systems and processes in conjunction with our review of existing lease agreements. 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.

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.

Revenue

3 Months Ended

Mar. 31, 2018

Revenue From Contract With Customer [Abstract]

Acquisitions and Dispositions

3.Revenue

Revenue Recognition

Revenue is recognized when control of the promised goods or services is transferred to customers in an amount that reflects the consideration expected to be entitled in exchange for those goods or services. Sales, value added, and other taxes collected concurrently with revenue-producing activities are excluded from revenue.

The following table presents our revenues disaggregated by product line (dollars in millions):

	Three Months Ended March 31,
	2018		2017 (a)
Packaging	$	1,402.9	$	1,257.0
Paper		269.4		259.2
Corporate and other		18.3		20.3
Total revenue	$	1,690.6	$	1,536.5

(a)	Prior periods have not been adjusted under the modified retrospective method for Topic 606.

Packaging Revenue

Our containerboard mills produce linerboard and semi-chemical corrugating medium which are papers primarily used in the production of corrugated products. The majority of our containerboard production is used internally by our corrugated products manufacturing facilities. The remaining containerboard is sold to outside domestic and export customers. Our corrugated products manufacturing plants produce a wide variety of corrugated packaging products and retail merchandise displays. We sell corrugated products to national, regional and local accounts, which are broadly diversified across industries and geographic locations.

The Company recognizes revenue for its packaging products when performance obligations under the terms of a contract with a customer are satisfied. This occurs with the transfer of control of our products at a specific point in time. Based on our express terms and conditions of the sale of products to our customers, as well as terms included in contractual arrangements with our customers, we do not have an enforceable right of payment that includes a reasonable profit throughout the duration of the contract for products that do not have an alternative use. Revenue is recognized when the product is shipped from the mill or from our manufacturing facility to our customer. Certain customers may receive volume-based incentives which are accounted for as variable consideration. We estimate these amounts based on the expected amount to be provided to customers and reduce revenue recognized.

Certain customers receive a portion of their packaging products as consigned inventory with billing triggered once the customer uses or consumes the designated product. Prior to invoicing, these amounts are handled as unbilled receivables. Total unbilled receivables, which are immaterial in amount, are included in the accounts receivable financial statement caption.

Paper Revenue

We manufacture and sell a range of white papers, including communication papers and pressure sensitive papers. Communication papers consist of cut-size office papers, and printing and converting papers. Pressure sensitive papers, including release liners, are used for specialty applications such as consumer and commercial product labels.

The Company recognizes revenue for its paper products when performance obligations under the terms of a contract with a customer are satisfied. This occurs with the transfer of control of our products at a specific point in time. Revenue is recognized when the product is shipped from the mill or from our manufacturing facility or distribution center to our customer. Certain customers may receive volume-based incentives which are accounted for as variable consideration. We estimate these amounts based on the expected amount to be provided to customers and reduce revenue recognized.

Corporate and Other Revenue

Revenue in this segment primarily relates to Louisiana Timber Procurement Company, L.L.C. (LTP), a variable-interest entity that is 50% owned by PCA and 50% owned by Boise Cascade Company (Boise Cascade). PCA is the primary beneficiary of LTP and has the power to direct the activities that most significantly affect the economic performance of LTP. Therefore, we consolidate 100% of LTP in our financial statements. See Note 17, Transactions With Related Parties, for more information related to LTP.

The Company recognizes revenue within this segment when performance obligations under the terms of a contract with a customer are satisfied. This occurs with the transfer of control of our products at a specific point in time.

Practical Expedients and Exemption

Shipping and handling fees billed to a customer are recorded on a gross basis in "Net sales" with the corresponding shipping and handling costs included in "Cost of sales" in the concurrent period as the revenue is recorded. We expense sales commissions when incurred because the amortization period is one year or less. Sales commissions are recorded in "Selling, general, and administrative expenses".

We do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less.

Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

4.	Acquisitions

Sacramento Container Acquisition

On October 2, 2017, PCA acquired substantially all of the assets of Sacramento Container Corporation, and 100% of the membership interests of Northern Sheets, LLC and Central California Sheets, LLC (collectively referred to as “Sacramento Container”) for a purchase price of $274 million, including working capital adjustments. Funding for the $274 million purchase price came from available cash on hand. Assets acquired include full-line corrugated products and sheet feeder operations in both McClellan, California and Kingsburg, California. Sacramento Container provides packaging solutions to customers serving portions of California’s strong agricultural market. Sacramento Container’s financial results are included in the Packaging segment from the date of acquisition.

The Company accounted for the Sacramento Container acquisition using the acquisition method of accounting in accordance with ASC 805, Business Combinations. The total purchase price has been preliminarily allocated to tangible and intangible assets acquired and liabilities assumed based on respective fair values, as follows (dollars in millions):

	12/31/2017 Allocation
Goodwill	$	151.1
Other intangible assets		72.6
Property, plant and equipment		26.7
Other net assets		23.4
Net assets acquired	$	273.8

The purchase price above is preliminary and is subject to finalization of various valuations and assessments, primarily related to property, plant, and equipment and intangible assets. Our current estimates and assumptions may change as more information becomes available. We expect to finalize the valuation within the 12-month period following the acquisition date.

Goodwill is calculated as the excess of the purchase price over the fair value of the net assets acquired. Among the factors that contributed to the recognition of goodwill were Sacramento Container’s commitment to continuous improvement and regional synergies, as well as the expected increases in PCA’s containerboard integration levels. Goodwill is deductible for tax purposes.

Other intangible assets, primarily customer relationships, were assigned an estimated weighted average useful life of 9.7 years.

Property, plant, and equipment were assigned estimated useful lives ranging from one to 13 years.

Earnings Per Share

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

5.	Earnings Per Share

The following table sets forth the computation of basic and diluted income per common share for the periods presented (dollars and shares in millions, except per share data):

	Three Months Ended
	March 31,
Numerator:	2018			2017
Net income	$	140.1		$	117.4
Less: distributed and undistributed earnings allocated to participating securities		(1.1	)		(1.0	)
Net income attributable to common shareholders	$	139.0		$	116.4
Denominator:
Weighted average basic common shares outstanding		93.6			93.4
Effect of dilutive securities		0.2			0.2
Weighted average diluted common shares outstanding		93.8			93.6
Basic income per common share	$	1.48		$	1.25
Diluted income per common share	$	1.48		$	1.24

Other Income (Expense), Net

3 Months Ended

Mar. 31, 2018

Other Income And Expenses [Abstract]

Other Income (Expense), Net

6.	Other Income (Expense), Net

The components of other income (expense), net, were as follows (dollars in millions):

	Three Months Ended
	March 31,
	2018			2017
Asset disposals and write-offs	$	(5.1	)	$	(2.3	)
Wallula mill restructuring (a)		(0.7	)		—
Facilities closure, integration-related, and other costs (b)		(0.1	)		(0.8	)
DeRidder mill incident (c)		—			(5.0	)
Hexacomb working capital adjustment (d)		—			2.3
Other		(2.4	)		(1.2	)
Total	$	(8.3	)	$	(7.0	)

(a)	Includes charges related to our determination to discontinue production of uncoated free sheet and coated one-side grades at the Wallula, Washington mill in the second quarter of 2018 and convert the No. 3 paper machine to a high-performance 100% virgin kraft linerboard machine.

(b)

For 2018, includes charges consisting of closure costs related to corrugated products facilities. For 2017, includes charges consisting of closure costs related to corrugated products facilities, integration costs related to the TimBar Corporation and Columbus Container Inc. acquisitions, and costs related to a lump sum settlement payment of a multiemployer pension plan for one of our corrugated products facilities.

(c)	Includes costs for the property damage and business interruption insurance deductible corresponding to the February 2017 explosion at our DeRidder, Louisiana mill.

(d)	Includes income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.

Income Taxes

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

7.	Income Taxes

On December 22, 2017, the President signed into law H.R.1 (P.L. 115-97), originally known as the “Tax Cuts and Jobs Act” (the “Tax Act”). The Tax Act significantly revises the U.S. tax code by, among other items, reducing the federal corporate tax rate from 35% to 21%, providing for the full expensing of certain depreciable property, eliminating the corporate alternative minimum tax, limiting the deductibility of interest expense, further limiting the deductibility of certain executive compensation, limiting the use of net operating loss carryforwards created in tax years beginning after December 31, 2017, and implementing a territorial tax system imposing a deemed repatriation transition tax (“Transition Tax”) on earnings of foreign subsidiaries.

The SEC staff issued Staff Accounting Bulletin (“SAB”) 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act, which provides guidance on accounting for the effects and includes a measurement period that ends when a company has obtained, prepared, and analyzed the information necessary to finalize its accounting of the Tax Act, which cannot extend beyond one year. In accordance with SAB 118, the Company recorded provisional estimates of the income tax effects of the Tax Act in our 2017 Form 10-K.

During the three months ended March 31, 2018, we have not recorded any measurement period adjustments to the provisional estimates recorded at December 31, 2017. Final accounting for the income tax effects of the Tax Act will occur after the completion of our 2017 federal and state income tax returns in the fourth quarter of 2018.

For the three months ended March 31, 2018 and 2017, we recorded $46.5 million and $61.7 million of income tax expense and had an effective tax rate of 24.9% and 34.5%, respectively. The decrease in our effective tax rate for the three months ended March 31, 2018 compared with the same period in 2017, was primarily due to federal tax reform (P.L. 115-97), which included a reduction in the federal tax rate of 14.0% offset by the loss of the Domestic Production Activities Deduction benefit of about 3.2% and a reduction in the federal benefit of state tax deductions of about 0.8%.

Our effective tax rate may differ from the federal statutory income tax rate of 21.0%, due primarily to the effect of state and local income taxes. During the three months ended March 31, 2018 and 2017, cash paid for taxes, net of refunds received, was $10.3 million and $9.7 million, respectively.

During the three months ended March 31, 2018 there were no significant changes to our uncertain tax positions. For more information, see Note 6, Income Taxes, of the Notes to Consolidated Financial Statements in “Part II, Item 8. Financial Statements and Supplementary Data” of our 2017 Annual Report on Form 10-K.

Inventories

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Inventories

8.	Inventories

We value our raw materials, work in process, and finished goods inventories using lower of cost, as determined by the average cost method, or market. Supplies and materials are valued at the first-in, first-out (FIFO) or average cost methods.

The components of inventories were as follows (dollars in millions):

	March 31,		December 31,
	2018		2017
Raw materials	$	293.9	$	279.8
Work in process		14.4		12.6
Finished goods		202.2		217.0
Supplies and materials		255.9		253.1
Inventories	$	766.4	$	762.5

Property, Plant, and Equipment

3 Months Ended

Mar. 31, 2018

Property Plant And Equipment [Abstract]

Property, Plant, and Equipment

9.	Property, Plant, and Equipment

The components of property, plant, and equipment were as follows (dollars in millions):

	March 31,			December 31,
	2018			2017
Land and land improvements	$	158.0		$	156.0
Buildings		734.4			729.8
Machinery and equipment		5,212.0			5,162.5
Construction in progress		239.0			194.5
Other		70.9			68.4
Property, plant and equipment, at cost		6,414.3			6,311.2
Less accumulated depreciation		(3,452.9	)		(3,386.3	)
Property, plant, and equipment, net	$	2,961.4		$	2,924.9

Depreciation expense for the three months ended March 31, 2018 and 2017 was $94.6 million and $82.4 million, respectively. During the three months ended March 31, 2018, we recognized $8.3 million incremental depreciation expense from shortening the useful lives of certain assets related to the Wallula mill restructuring and a corporate administration facility.

At March 31, 2018 and December 31, 2017, purchases of property, plant, and equipment included in accounts payable were $55.2 million and $29.8 million, respectively.

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

10.	Goodwill and Intangible Assets

Goodwill

Goodwill represents the excess of the cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. At March 31, 2018 and December 31, 2017 we had $828.0 million of goodwill recorded in our Packaging segment. At both March 31, 2018 and December 31, 2017, we had $55.2 million of goodwill recorded in our Paper segment.

Intangible Assets

Intangible assets are primarily comprised of customer relationships and trademarks and trade names.

The weighted average remaining useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions):

	March 31, 2018						December 31, 2017
	Weighted Average Remaining Useful Life (in Years)		Gross Carrying Amount		Accumulated Amortization		Weighted Average Remaining Useful Life (in Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships (a)	11.6		$	497.8	$	118.6	11.8	$	497.8	$	109.8
Trademarks and trade names (a)		10.0		32.9		14.6	9.8		32.9		13.2
Other (a)	3.4			4.3		2.2	3.6		4.3		2.0
Total intangible assets (excluding goodwill)	11.5		$	535.0	$	135.4	11.7	$	535.0	$	125.0

(a)	In connection with the October 2017 acquisition of Sacramento Container, the Company recorded intangible assets of $68.4 million for customer relationships, $4.1 million for trade names, and $0.1 million for other intangibles.

During the three months ended March 31, 2018 and 2017, amortization expense was $10.4 million and $8.3 million, respectively.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Accrued Liabilities

3 Months Ended

Mar. 31, 2018

Accrued Liabilities Current And Noncurrent [Abstract]

Accrued Liabilities

11.	Accrued Liabilities

The components of accrued liabilities were as follows (dollars in millions):

	March 31,		December 31,
	2018		2017
Compensation and benefits	$	78.4	$	127.5
Medical insurance and workers’ compensation		25.5		23.9
Customer volume discounts and rebates		16.8		23.4
Franchise, property, sales and use taxes		15.5		16.0
Environmental liabilities and asset retirement obligations		4.4		4.0
Severance, retention, and relocation		3.3		3.1
Other		13.1		5.3
Total	$	157.0	$	203.2

Debt

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt

12.

Debt

At March 31, 2018 and December 31, 2017, our long-term debt and interest rates on that debt were as follows (dollars in millions):

	March 31, 2018					December 31, 2017
	Amount		Interest Rate			Amount		Interest Rate
6.50% Senior Notes due March 2018	$	—		—	%	$	150.0		6.50	%
2.45% Senior Notes, net of discount of $0.5 million as of March 31, 2018 and December 31, 2017, due December 2020		499.5		2.45	%		499.5		2.45	%
3.90% Senior Notes, net of discount of $0.2 million as of March 31, 2018 and December 31, 2017, due June 2022		399.8		3.90	%		399.8		3.90	%
4.50% Senior Notes, net of discount of $1.1 million and $1.2 million as of March 31, 2018 and December 31, 2017, respectively, due November 2023		698.9		4.50	%		698.8		4.50	%
3.65% Senior Notes, net of discount of $0.8 million as of March 31, 2018 and December 31, 2017, due September 2024		399.2		3.65	%		399.2		3.65	%
3.40% Senior Notes, net of discounts of $1.6 million as of March 31, 2018 and December 31, 2017 due December 2027		498.4		3.40	%		498.4		3.40	%
Total		2,495.8		3.64	%		2,645.7		3.80	%
Less current portion		—		—	%		150.0		6.50	%
Less unamortized debt issuance costs		14.6					15.3
Total long-term debt	$	2,481.2		3.64	%	$	2,480.4		3.64	%

During the three months ended March 31, 2018, we used cash on hand to repay debt outstanding of $150.0 million under the 6.50% Senior Notes due March 2018. For the three months ended March 31, 2018 and 2017, cash payments for interest were $12.5 million and $18.0 million, respectively.

Included in interest expense, net, are amortization of treasury lock settlements and amortization of financing costs. For both the three months ended March 31, 2018 and 2017, amortization of treasury lock settlements was $1.4 million. For the three months ended March 31, 2018 and 2017, amortization of financing costs was $0.7 million and $0.5 million, respectively.

At March 31, 2018, we have $2,495.8 million of fixed-rate senior notes outstanding. The fair value of our fixed-rate debt was estimated to be $2,515.0 million. The difference between the book value and fair value is due to the difference between the period-end market interest rate and the stated rate of our fixed-rate debt. We estimated the fair value of our fixed-rate debt using quoted market prices (Level 2 inputs) within the fair value hierarchy, which is further defined in Note 2, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2017 Annual Report on Form 10-K.

For more information on our long-term debt and interest rates on that debt, see Note 9, Debt, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2017 Annual Report on Form 10-K.

Employee Benefit Plans and Other Postretirement Benefits

3 Months Ended

Mar. 31, 2018

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans and Other Postretirement Benefits

13.	Employee Benefit Plans and Other Postretirement Benefits

The components of net periodic benefit cost for our pension plans were as follows (dollars in millions):

	Pension Plans
	Three Months Ended March 31,
	2018			2017
Service cost	$	6.2		$	6.1
Interest cost		10.6			10.4
Expected return on plan assets		(14.2	)		(13.5	)
Net amortization of unrecognized amounts
Prior service cost		1.8			1.5
Actuarial loss		2.3			1.9
Net periodic benefit cost	$	6.7		$	6.4

PCA makes pension plan contributions that are sufficient to fund its actuarially determined costs, generally equal to the minimum amounts required by the Employee Retirement Income Security Act (ERISA). From time to time, PCA may make additional discretionary contributions based on the funded status of the plans, tax deductibility, income from operations, and other factors. During the three months ended March 31, 2018 and 2017, payments to our nonqualified pension plans were insignificant. For the three months ended March 31, 2018, we made contributions of $2.2 million to our qualified pension plans. We made contributions of $3.7 million to our qualified plans during the three months ended March 31, 2017. We expect to contribute at least the estimated required minimum contributions to our qualified pension plans of approximately $4.6 million in 2018.

The components of net periodic benefit cost for our postretirement plans were as follows (dollars in millions):

	Postretirement Plans
	Three Months Ended March 31,
	2018			2017
Service cost	$	0.1		$	0.1
Interest cost		0.1			0.1
Net amortization of unrecognized amounts
Prior service cost		(0.1	)		—
Net periodic benefit cost	$	0.1		$	0.2

Share-Based Compensation

3 Months Ended

Mar. 31, 2018

Share Based Compensation [Abstract]

Share-Based Compensation

14.	Share-Based Compensation

The Company has a long-term equity incentive plan, which allows for grants of restricted stock, performance awards, stock appreciation rights, and stock options to directors, officers, and employees, as well as others who engage in services for PCA. The plan, as amended, terminates May 1, 2023 and authorizes 10.6 million shares of common stock for grant over the life of the plan. As of March 31, 2018, 1.0 million shares were available for future grants under the plan. Forfeitures are added back to the pool of shares of common stock available to be granted at a future date.

The following table presents restricted stock and performance unit award activity for the three months ended March 31, 2018:

	Restricted Stock					Performance Units
	Shares			Weighted Average Grant- Date Fair Value		Shares		Weighted Average Grant- Date Fair Value
Outstanding at January 1, 2018		739,732		$	77.23		226,558	$	77.07
Granted		—			—		—		—
Vested		(3,194	)		74.23		—		—
Forfeitures		(1,182	)		78.05		—		—
Outstanding at March 31, 2018		735,356		$	77.24		226,558	$	77.07

Compensation Expense

Our share-based compensation expense is recorded in "Selling, general, and administrative expenses." Compensation expense for share-based awards recognized in the Consolidated Statements of Income, net of forfeitures, was as follows (dollars in millions):

	Three Months Ended March 31,
	2018			2017
Restricted stock	$	3.9		$	3.4
Performance units		1.2			1.2
Total share-based compensation expense		5.1			4.6
Income tax benefit		(1.3	)		(1.8	)
Share-based compensation expense, net of tax benefit	$	3.8		$	2.8

The fair value of restricted stock and performance units is determined based on the closing price of the Company’s common stock on the grant date. As PCA’s Board of Directors has the ability to accelerate vesting of share-based awards upon an employee’s retirement, the Company accelerates the recognition of compensation expense for certain employees approaching normal retirement age.

The unrecognized compensation expense for all share-based awards at March 31, 2018 was as follows (dollars in millions):

	March 31, 2018
	Unrecognized Compensation Expense		Remaining Weighted Average Recognition Period (in years)
Restricted stock	$	26.7	2.3
Performance units		8.7		2.6
Total unrecognized share-based compensation expense	$	35.4		2.4

Stockholders' Equity

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Stockholders' Equity

15.	Stockholders' Equity

Dividends

During the three months ended March 31, 2018, we paid $59.4 million of dividends to shareholders. On February 27, 2018, PCA's Board of Directors announced a regular quarterly cash dividend of $0.63 per share of common stock, which was paid on April 13, 2018 to shareholders of record as of March 15, 2018. The dividend payment was $59.4 million.

Repurchases of Common Stock

On February 25, 2016, PCA announced that its Board of Directors authorized the repurchase of $200.0 million of the Company’s outstanding common stock. Repurchases may be made from time to time in open market or privately negotiated transactions in accordance with applicable securities regulations. The timing and amount of repurchases will be determined by the Company in its discretion based on factors such as PCA’s stock price and market and business conditions.

The Company did not repurchase any shares of its common stock under this authority during the three months ended March 31, 2018. At March 31, 2018, $193.0 million of the authorized amount remained available for repurchase of the Company’s common stock.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) (AOCI) by component were as follows (dollars in millions). Amounts in parentheses indicate losses:

	Foreign Currency Translation Adjustments			Unrealized Loss On Treasury Locks, Net			Unrealized Loss on Foreign Exchange Contracts			Unfunded Employee Benefit Obligations			Total
Balance at January 1, 2018	$	(0.3	)	$	(14.2	)	$	(0.3	)	$	(142.1	)	$	(156.9	)
Amounts reclassified from AOCI, net of tax		(0.1	)		1.0			—			3.0			3.9
Balance at March 31, 2018	$	(0.4	)	$	(13.2	)	$	(0.3	)	$	(139.1	)	$	(153.0	)

Reclassifications out of AOCI were as follows (dollars in millions). Amounts in parentheses indicate expenses in the Consolidated Statements of Income:

	Amounts Reclassified from AOCI
	Three Months Ended March 31,
Details about AOCI Components	2018			2017
Unrealized loss on treasury locks, net (a)	$	(1.4	)	$	(1.4	)	See (a) below
		0.4			0.5		Tax benefit
	$	(1.0	)	$	(0.9	)	Net of tax

Unfunded employee benefit obligations (b)
Amortization of prior service costs	$	(1.7	)	$	(1.5	)	See (b) below
Amortization of actuarial gains / (losses)		(2.3	)		(1.9	)	See (b) below
		(4.0	)		(3.4	)	Total before tax
		1.0			1.2		Tax benefit
	$	(3.0	)	$	(2.2	)	Net of tax

(a)

This AOCI component is included in interest expense, net. Amount relates to the amortization of the effective portion of treasury lock derivative instruments recorded in AOCI. The net amount of settlement gains or losses on derivative instruments included in AOCI to be amortized over the next 12 months is a net loss of $5.2 million ($3.9 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 13, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2017 Annual Report on Form 10-K.

(b)	These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 13, Employee Benefit Plans and Other Postretirement Benefits, for additional information.

Concentrations of Risk

3 Months Ended

Mar. 31, 2018

Risks And Uncertainties [Abstract]

Concentration of Risk

16.	Concentrations of Risk

Our Paper segment has a long-standing commercial and contractual relationship with Office Depot, our largest customer in the paper business. This relationship exposes us to a significant concentration of business and financial risk. Our sales to Office Depot represent approximately 7% of our total Company sales revenue for the three months ended March 31, 2018 and 2017 and approximately 45% and 44% of our Paper segment sales revenue for both of those periods, respectively. At March 31, 2018 and December 31, 2017, we had $75.1 million and $33.3 million of accounts receivable due from Office Depot, which represents 9% and 4% of our total Company accounts receivable for both of those periods, respectively. The increase in accounts receivable corresponds to a negotiated extension of credit terms effective during the first quarter of 2018.

For full year 2017, sales to Office Depot represented 43% of our Paper segment sales. If these sales are reduced, we would need to find new customers. We may not be able to fully replace any lost sales, and any new sales may be at lower prices or higher costs. Any significant deterioration in the financial condition of Office Depot affecting its ability to pay or any other change that affects its willingness to purchase our products will harm our business and results of operations.

Transactions With Related Parties

3 Months Ended

Mar. 31, 2018

Transactions With Related Parties

17.	Transactions With Related Parties

Louisiana Timber Procurement Company, L.L.C. (LTP) is a variable-interest entity that is 50% owned by PCA and 50% owned by Boise Cascade Company (Boise Cascade). LTP procures sawtimber, pulpwood, residual chips, and other residual wood fiber to meet the wood and fiber requirements of PCA and Boise Cascade in Louisiana. PCA is the primary beneficiary of LTP and has the power to direct the activities that most significantly affect the economic performance of LTP. Therefore, we consolidate 100% of LTP in our financial statements in our Corporate and Other segment. The carrying amounts of LTP's assets and liabilities (which relate primarily to non-inventory working capital items) on our Consolidated Balance Sheets were $2.9 million at March 31, 2018 and $3.0 million at December 31, 2017. During the three months ended March 31, 2018 and 2017, we recorded $20.5 million and $23.5 million, respectively, of LTP sales to Boise Cascade in "Net Sales" in the Consolidated Statements of Income and approximately the same amount of expenses in "Cost of Sales".

During the three months ended March 31, 2018 and 2017, fiber purchases from related parties were $4.0 million and $5.0 million, respectively. Most of these purchases related to chip and log purchases by LTP from Boise Cascade's wood products business. These purchases are recorded in "Cost of Sales" in the Consolidated Statements of Income.

Segment Information

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment Information

18.	Segment Information

We report our business in three reportable segments: Packaging, Paper, and Corporate and Other. These segments represent distinct businesses that are managed separately because of differing products and services. Each of these businesses requires distinct operating and marketing strategies.

Each segment’s profits and losses are measured on operating profits before interest expense, net and income taxes. For certain allocated expenses, the related assets and liabilities remain in the Corporate and Other segment.

Selected financial information by reportable segment was as follows (dollars in millions):

	Sales, net
Three Months Ended March 31, 2018	Trade		Inter-segment			Total			Operating Income (Loss) (a)
Packaging	$	1,396.6	$	6.3		$	1,402.9		$	224.7		(b)
Paper		269.4		—			269.4			7.2		(b)
Corporate and other		24.6		29.0			53.6			(19.0	)	(b)
Intersegment eliminations		—		(35.3	)		(35.3	)		—
	$	1,690.6	$	—		$	1,690.6			212.9
Interest expense, net and other										(26.3	)
Income before taxes									$	186.6

	Sales, net
Three Months Ended March 31, 2017	Trade		Inter-segment			Total			Operating Income (Loss) (a)
Packaging	$	1,251.3	$	5.7		$	1,257.0		$	192.5		(c)
Paper		259.2		—			259.2			27.9
Corporate and Other		26.0		28.2			54.2			(17.0	)	(c)
Intersegment eliminations		—		(33.9	)		(33.9	)		—
	$	1,536.5	$	—		$	1,536.5			203.4
Interest expense, net and other										(24.3	)
Income before taxes									$	179.1

(a)

Effective January 1, 2018, the Company adopted ASU 2017-07, Compensation: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost and applied this standard retrospectively to the prior period reflected herein. This new standard requires the presentation of non-service cost components of net periodic benefits expense to be shown separately outside the subtotal of operating income in the income statement. See Note 2, New and Recently Adopted Accounting Standards, for more information.

The components of our financial statements affected by the change in presentation of operating and non-operating pension expense as originally reported in 2017 and as adjusted for the requirements per the new standard are as follows (dollars in millions):

Segment income (loss)	March 31, 2017 As Reported			Non-Operating Pension Adjustment			March 31, 2017 Adjusted
Packaging	$	190.8		$	1.7		$	192.5
Paper		29.8			(1.9	)		27.9
Corporate		(17.5	)		0.5			(17.0	)
Income from operations		203.1			0.3			203.4
Interest expense, net and other		(24.0	)		(0.3	)		(24.3	)
Income before taxes	$	179.1		$	—		$	179.1

(b)

Includes $0.3 million of charges consisting of closure costs related to corrugated products facilities and a corporate administration facility and $8.8 million of charges related to the announced second quarter 2018 discontinuation of uncoated free sheet and coated one-side grades at the Wallula, Washington mill associated with the conversion of the No. 3 paper machine to a high-performance 100% virgin kraft linerboard machine.

(c)

Includes the following:

$0.8 million of charges consisting of closure costs related to corrugated products facilities, integration costs related to the TimBar Corporation and Columbus Container Inc. acquisitions, and costs related to a lump sum settlement payment of a multiemployer pension plan withdrawal liability for one of our corrugated products facilities.

$5.0 million of costs for the property damage and business interruption insurance deductible corresponding to the February 2017 explosion at our DeRidder, Louisiana mill.

$2.3 million of income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.

Commitments, Guarantees, Indemnifications and Legal Proceedings

3 Months Ended

Mar. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Commitments, Guarantees, Indemnifications and Legal Proceedings

19.	Commitments, Guarantees, Indemnifications and Legal Proceedings

We have financial commitments and obligations that arise in the ordinary course of our business. These include long-term debt, capital commitments, lease obligations, and purchase commitments for goods and services, and legal proceedings, all of which are discussed in Note 9, Debt, and Note 18, Commitments, Guarantees, Indemnifications, and Legal Proceedings, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2017 Annual Report on Form 10-K.

Guarantees and Indemnifications

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 March 31, 2018, 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.

DeRidder Mill Incident

On February 8, 2017, a tank located in the pulp mill at the Company's DeRidder, Louisiana facility exploded, resulting in three contractor fatalities and other injuries. The Company has been served with multiple lawsuits involving the decedents and other allegedly injured parties, alleging negligence on the part of the Company and claiming compensatory and punitive damages. The Company is vigorously defending these lawsuits. The Company believes that these suits are covered by its liability insurance policies, subject to an aggregate $1.0 million deductible. The incident remains under investigation and all lawsuits are in the early stages. Accordingly, the Company is unable to estimate a range of reasonable possible losses at this time.

The Company has also incurred property damage and business interruption losses and has claimed these losses, subject to a $5.0 million deductible, under its property damage and business interruption insurance policy. As of December 31, 2017, the Company finalized the claim with the insurance carrier and received $17.0 million in insurance proceeds during the first quarter of 2018. The insurance proceeds are included in net cash provided by operating activities ($14.5 million) and in net cash used for investing activities ($2.5 million) based on the nature of the reimbursement.

The Company is cooperating with investigations from the U.S. Occupational Health and Safety Administration, the U.S. Chemical Safety Board and the U.S. Environmental Protection Agency relating to the incident.

Legal Proceedings

We are also a party to various legal actions arising in the ordinary course of our business. These legal actions include commercial liability claims, premises liability claims, and employment-related claims, among others. As of the date of this filing, we believe it is not reasonably possible that any of the legal actions against us will, either individually or in the aggregate, have a material adverse effect on our financial condition, results of operations, or cash flows.

Nature of Operations and Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2018

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Reportable Segments

In these consolidated financial statements, certain amounts in prior periods' consolidated financial statements have been reclassified to conform with the current period presentation.

Basis of Accounting and Presentation

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 months ended March 31, 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.

Use of Estimates

The preparation of the consolidated financial statements involves the use of estimates and accruals. Actual results may vary from those estimates.

Consolidation

The consolidated financial statements include the accounts of PCA and its majority-owned subsidiaries after elimination of intercompany balances and transactions.

New and Recently Adopted Accounting Pronouncements

Recently Adopted Accounting Standards

See Note 3, Revenue, for more information.

New Accounting Standards Not Yet Adopted

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.

Revenue Recognition

The following table presents our revenues disaggregated by product line (dollars in millions):

	Three Months Ended March 31,
	2018		2017 (a)
Packaging	$	1,402.9	$	1,257.0
Paper		269.4		259.2
Corporate and other		18.3		20.3
Total revenue	$	1,690.6	$	1,536.5

(a)	Prior periods have not been adjusted under the modified retrospective method for Topic 606.

Inventory Valuation

Revenue (Tables)

3 Months Ended

Mar. 31, 2018

Revenue From Contract With Customer [Abstract]

Summary of Revenues Disaggregated by Product Line

The following table presents our revenues disaggregated by product line (dollars in millions):

	Three Months Ended March 31,
	2018		2017 (a)
Packaging	$	1,402.9	$	1,257.0
Paper		269.4		259.2
Corporate and other		18.3		20.3
Total revenue	$	1,690.6	$	1,536.5

(a)	Prior periods have not been adjusted under the modified retrospective method for Topic 606.

Acquisitions and Dispositions (Tables)

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The total purchase price has been preliminarily allocated to tangible and intangible assets acquired and liabilities assumed based on respective fair values, as follows (dollars in millions):

	12/31/2017 Allocation
Goodwill	$	151.1
Other intangible assets		72.6
Property, plant and equipment		26.7
Other net assets		23.4
Net assets acquired	$	273.8

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Computation of Basic and Diluted Income Per Common Share

The following table sets forth the computation of basic and diluted income per common share for the periods presented (dollars and shares in millions, except per share data):

	Three Months Ended
	March 31,
Numerator:	2018			2017
Net income	$	140.1		$	117.4
Less: distributed and undistributed earnings allocated to participating securities		(1.1	)		(1.0	)
Net income attributable to common shareholders	$	139.0		$	116.4
Denominator:
Weighted average basic common shares outstanding		93.6			93.4
Effect of dilutive securities		0.2			0.2
Weighted average diluted common shares outstanding		93.8			93.6
Basic income per common share	$	1.48		$	1.25
Diluted income per common share	$	1.48		$	1.24

Other Income (Expense), Net (Tables)

3 Months Ended

Mar. 31, 2018

Other Income And Expenses [Abstract]

Components of Other Income (Expense), Net

The components of other income (expense), net, were as follows (dollars in millions):

	Three Months Ended
	March 31,
	2018			2017
Asset disposals and write-offs	$	(5.1	)	$	(2.3	)
Wallula mill restructuring (a)		(0.7	)		—
Facilities closure, integration-related, and other costs (b)		(0.1	)		(0.8	)
DeRidder mill incident (c)		—			(5.0	)
Hexacomb working capital adjustment (d)		—			2.3
Other		(2.4	)		(1.2	)
Total	$	(8.3	)	$	(7.0	)

(a)	Includes charges related to our determination to discontinue production of uncoated free sheet and coated one-side grades at the Wallula, Washington mill in the second quarter of 2018 and convert the No. 3 paper machine to a high-performance 100% virgin kraft linerboard machine.

(b)

(c)	Includes costs for the property damage and business interruption insurance deductible corresponding to the February 2017 explosion at our DeRidder, Louisiana mill.

(d)	Includes income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.

Inventories (Tables)

3 Months Ended

Mar. 31, 2018

Inventory Disclosure [Abstract]

Components of Inventories

The components of inventories were as follows (dollars in millions):

	March 31,		December 31,
	2018		2017
Raw materials	$	293.9	$	279.8
Work in process		14.4		12.6
Finished goods		202.2		217.0
Supplies and materials		255.9		253.1
Inventories	$	766.4	$	762.5

Property, Plant, and Equipment (Tables)

3 Months Ended

Mar. 31, 2018

Property Plant And Equipment [Abstract]

Components of Property, Plant, and Equipment

The components of property, plant, and equipment were as follows (dollars in millions):

	March 31,			December 31,
	2018			2017
Land and land improvements	$	158.0		$	156.0
Buildings		734.4			729.8
Machinery and equipment		5,212.0			5,162.5
Construction in progress		239.0			194.5
Other		70.9			68.4
Property, plant and equipment, at cost		6,414.3			6,311.2
Less accumulated depreciation		(3,452.9	)		(3,386.3	)
Property, plant, and equipment, net	$	2,961.4		$	2,924.9

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2018

Goodwill And Intangible Assets Disclosure [Abstract]

Components of Intangible Assets

The weighted average remaining useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions):

	March 31, 2018						December 31, 2017
	Weighted Average Remaining Useful Life (in Years)		Gross Carrying Amount		Accumulated Amortization		Weighted Average Remaining Useful Life (in Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships (a)	11.6		$	497.8	$	118.6	11.8	$	497.8	$	109.8
Trademarks and trade names (a)		10.0		32.9		14.6	9.8		32.9		13.2
Other (a)	3.4			4.3		2.2	3.6		4.3		2.0
Total intangible assets (excluding goodwill)	11.5		$	535.0	$	135.4	11.7	$	535.0	$	125.0

(a)	In connection with the October 2017 acquisition of Sacramento Container, the Company recorded intangible assets of $68.4 million for customer relationships, $4.1 million for trade names, and $0.1 million for other intangibles.

Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2018

Accrued Liabilities Current And Noncurrent [Abstract]

Components of Accrued Liabilities

The components of accrued liabilities were as follows (dollars in millions):

	March 31,		December 31,
	2018		2017
Compensation and benefits	$	78.4	$	127.5
Medical insurance and workers’ compensation		25.5		23.9
Customer volume discounts and rebates		16.8		23.4
Franchise, property, sales and use taxes		15.5		16.0
Environmental liabilities and asset retirement obligations		4.4		4.0
Severance, retention, and relocation		3.3		3.1
Other		13.1		5.3
Total	$	157.0	$	203.2

Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Summary of Debt

At March 31, 2018 and December 31, 2017, our long-term debt and interest rates on that debt were as follows (dollars in millions):

	March 31, 2018					December 31, 2017
	Amount		Interest Rate			Amount		Interest Rate
6.50% Senior Notes due March 2018	$	—		—	%	$	150.0		6.50	%
2.45% Senior Notes, net of discount of $0.5 million as of March 31, 2018 and December 31, 2017, due December 2020		499.5		2.45	%		499.5		2.45	%
3.90% Senior Notes, net of discount of $0.2 million as of March 31, 2018 and December 31, 2017, due June 2022		399.8		3.90	%		399.8		3.90	%
4.50% Senior Notes, net of discount of $1.1 million and $1.2 million as of March 31, 2018 and December 31, 2017, respectively, due November 2023		698.9		4.50	%		698.8		4.50	%
3.65% Senior Notes, net of discount of $0.8 million as of March 31, 2018 and December 31, 2017, due September 2024		399.2		3.65	%		399.2		3.65	%
3.40% Senior Notes, net of discounts of $1.6 million as of March 31, 2018 and December 31, 2017 due December 2027		498.4		3.40	%		498.4		3.40	%
Total		2,495.8		3.64	%		2,645.7		3.80	%
Less current portion		—		—	%		150.0		6.50	%
Less unamortized debt issuance costs		14.6					15.3
Total long-term debt	$	2,481.2		3.64	%	$	2,480.4		3.64	%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Employee Benefit Plans and Other Postretirement Benefits (Tables)

3 Months Ended

Mar. 31, 2018

Compensation And Retirement Disclosure [Abstract]

Components of Net Periodic Benefit Costs

The components of net periodic benefit cost for our pension plans were as follows (dollars in millions):

	Pension Plans
	Three Months Ended March 31,
	2018			2017
Service cost	$	6.2		$	6.1
Interest cost		10.6			10.4
Expected return on plan assets		(14.2	)		(13.5	)
Net amortization of unrecognized amounts
Prior service cost		1.8			1.5
Actuarial loss		2.3			1.9
Net periodic benefit cost	$	6.7		$	6.4

The components of net periodic benefit cost for our postretirement plans were as follows (dollars in millions):

	Postretirement Plans
	Three Months Ended March 31,
	2018			2017
Service cost	$	0.1		$	0.1
Interest cost		0.1			0.1
Net amortization of unrecognized amounts
Prior service cost		(0.1	)		—
Net periodic benefit cost	$	0.1		$	0.2

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2018

Share Based Compensation [Abstract]

Summary of Restricted Stock and Performance Unit Award Activity

The following table presents restricted stock and performance unit award activity for the three months ended March 31, 2018:

	Restricted Stock					Performance Units
	Shares			Weighted Average Grant- Date Fair Value		Shares		Weighted Average Grant- Date Fair Value
Outstanding at January 1, 2018		739,732		$	77.23		226,558	$	77.07
Granted		—			—		—		—
Vested		(3,194	)		74.23		—		—
Forfeitures		(1,182	)		78.05		—		—
Outstanding at March 31, 2018		735,356		$	77.24		226,558	$	77.07

Compensation Expense For Restricted Stock and Performance Units

	Three Months Ended March 31,
	2018			2017
Restricted stock	$	3.9		$	3.4
Performance units		1.2			1.2
Total share-based compensation expense		5.1			4.6
Income tax benefit		(1.3	)		(1.8	)
Share-based compensation expense, net of tax benefit	$	3.8		$	2.8

Unrecognized Compensation For Restricted Stock and Performance Units

The unrecognized compensation expense for all share-based awards at March 31, 2018 was as follows (dollars in millions):

	March 31, 2018
	Unrecognized Compensation Expense		Remaining Weighted Average Recognition Period (in years)
Restricted stock	$	26.7	2.3
Performance units		8.7		2.6
Total unrecognized share-based compensation expense	$	35.4		2.4

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2018

Equity [Abstract]

Components of Changes in Accumulated Other Comprehensive Income (AOCI)

Changes in accumulated other comprehensive income (loss) (AOCI) by component were as follows (dollars in millions). Amounts in parentheses indicate losses:

	Foreign Currency Translation Adjustments			Unrealized Loss On Treasury Locks, Net			Unrealized Loss on Foreign Exchange Contracts			Unfunded Employee Benefit Obligations			Total
Balance at January 1, 2018	$	(0.3	)	$	(14.2	)	$	(0.3	)	$	(142.1	)	$	(156.9	)
Amounts reclassified from AOCI, net of tax		(0.1	)		1.0			—			3.0			3.9
Balance at March 31, 2018	$	(0.4	)	$	(13.2	)	$	(0.3	)	$	(139.1	)	$	(153.0	)

Reclassifications Out of Accumulated Other Comprehensive Income (AOCI)

Reclassifications out of AOCI were as follows (dollars in millions). Amounts in parentheses indicate expenses in the Consolidated Statements of Income:

	Amounts Reclassified from AOCI
	Three Months Ended March 31,
Details about AOCI Components	2018			2017
Unrealized loss on treasury locks, net (a)	$	(1.4	)	$	(1.4	)	See (a) below
		0.4			0.5		Tax benefit
	$	(1.0	)	$	(0.9	)	Net of tax

Unfunded employee benefit obligations (b)
Amortization of prior service costs	$	(1.7	)	$	(1.5	)	See (b) below
Amortization of actuarial gains / (losses)		(2.3	)		(1.9	)	See (b) below
		(4.0	)		(3.4	)	Total before tax
		1.0			1.2		Tax benefit
	$	(3.0	)	$	(2.2	)	Net of tax

(a)

(b)	These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 13, Employee Benefit Plans and Other Postretirement Benefits, for additional information.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Selected Financial Information by Reportable Segment

Selected financial information by reportable segment was as follows (dollars in millions):

	Sales, net
Three Months Ended March 31, 2018	Trade		Inter-segment			Total			Operating Income (Loss) (a)
Packaging	$	1,396.6	$	6.3		$	1,402.9		$	224.7		(b)
Paper		269.4		—			269.4			7.2		(b)
Corporate and other		24.6		29.0			53.6			(19.0	)	(b)
Intersegment eliminations		—		(35.3	)		(35.3	)		—
	$	1,690.6	$	—		$	1,690.6			212.9
Interest expense, net and other										(26.3	)
Income before taxes									$	186.6

	Sales, net
Three Months Ended March 31, 2017	Trade		Inter-segment			Total			Operating Income (Loss) (a)
Packaging	$	1,251.3	$	5.7		$	1,257.0		$	192.5		(c)
Paper		259.2		—			259.2			27.9
Corporate and Other		26.0		28.2			54.2			(17.0	)	(c)
Intersegment eliminations		—		(33.9	)		(33.9	)		—
	$	1,536.5	$	—		$	1,536.5			203.4
Interest expense, net and other										(24.3	)
Income before taxes									$	179.1

(a)

Effective January 1, 2018, the Company adopted ASU 2017-07, Compensation: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost and applied this standard retrospectively to the prior period reflected herein. This new standard requires the presentation of non-service cost components of net periodic benefits expense to be shown separately outside the subtotal of operating income in the income statement. See Note 2, New and Recently Adopted Accounting Standards, for more information.

Segment income (loss)	March 31, 2017 As Reported			Non-Operating Pension Adjustment			March 31, 2017 Adjusted
Packaging	$	190.8		$	1.7		$	192.5
Paper		29.8			(1.9	)		27.9
Corporate		(17.5	)		0.5			(17.0	)
Income from operations		203.1			0.3			203.4
Interest expense, net and other		(24.0	)		(0.3	)		(24.3	)
Income before taxes	$	179.1		$	—		$	179.1

(b)

(c)

Includes the following:

$5.0 million of costs for the property damage and business interruption insurance deductible corresponding to the February 2017 explosion at our DeRidder, Louisiana mill.

$2.3 million of income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.

Nature of Operations and Basis of Presentation - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018 Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Date of incorporation	Jan. 25, 1999
Number of reportable segments	3

New and Recently Adopted Accounting Standards - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings	$ 1,949.6			$ 1,867.4
Cost of sales	1,334.5	$ 1,198.3
ASU 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Retained earnings			$ 1.6
Cost of sales	$ 6.2
ASU 2017-07
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Reclassification of components of income from operation and interest expense, net and other		$ 0.3

Revenue - Summary of Revenues Disaggregated by Product Line (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

^[1]

$ 1,690.6

$ 1,536.5

Packaging

1,402.9

1,257.0

Paper

269.4

259.2

Corporate and Other

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

$ 18.3

$ 20.3

[1]	Prior periods have not been adjusted under the modified retrospective method for Topic 606.

Revenue - Additional Information (Details)	3 Months Ended
Revenue - Additional Information (Details)	Mar. 31, 2018
Packaging Corporation of America
Revenue [Line Items]
Variable interest entity, ownership percentage	50.00%
Boise Cascade Co-Owner of LTP
Revenue [Line Items]
Variable interest entity, ownership percentage	50.00%

Acquisitions - Additional Information (Details) $ in Millions	Oct. 02, 2017 USD ($)
Sacramento Container Corporation
Business Acquisition [Line Items]
Acquisition completion date	Oct. 02, 2017
Cash purchase price	$ 274
Maximum Acquisition period to finalize valuation	12 months
Acquired finite-lived intangible assets, weighted average useful life	9 years 8 months 12 days
Sacramento Container Corporation \| Minimum
Business Acquisition [Line Items]
Property, plant and equipment useful life	1 year
Sacramento Container Corporation \| Maximum
Business Acquisition [Line Items]
Property, plant and equipment useful life	13 years
Northern Sheets LLC And Central California Sheets LLC
Business Acquisition [Line Items]
Percentage of membership interests acquired	100.00%

Acquisitions - Schedule of Acquisitions (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 883.2	$ 883.2
Packaging
Business Acquisition [Line Items]
Goodwill	$ 828.0	828.0
Sacramento Container Corporation
Business Acquisition [Line Items]
Other intangible assets		72.6
Property, plant and equipment		26.7
Other net assets		23.4
Net assets acquired		273.8
Sacramento Container Corporation \| Packaging
Business Acquisition [Line Items]
Goodwill		$ 151.1

Earnings Per Share - Computation of Basic and Diluted Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net income	$ 140.1	$ 117.4
Less: distributed and undistributed earnings allocated to participating securities	(1.1)	(1.0)
Net income attributable to common shareholders	$ 139.0	$ 116.4
Denominator:
Weighted average basic common shares outstanding (in shares)	93.6	93.4
Effect of dilutive securities (in shares)	0.2	0.2
Weighted average diluted common shares outstanding (in shares)	93.8	93.6
Basic income per common share (in dollars per share)	$ 1.48	$ 1.25
Diluted income per common share (in dollars per share)	$ 1.48	$ 1.24

Other Income (Expense), Net (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Asset disposals and write-offs

$ (5.1)

$ (2.3)

Facilities closure, integration-related, and other costs

^[1]

(0.1)

(0.8)

Hexacomb working capital adjustment

^[2]

2.3

Other

(2.4)

(1.2)

Total

(8.3)

(7.0)

Wallula, Washington Mill

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Restructuring

^[3]

$ (0.7)

Deridder Mill

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

DeRidder mill incident

^[4]

$ (5.0)

[1]	For 2018, includes charges consisting of closure costs related to corrugated products facilities. For 2017, includes charges consisting of closure costs related to corrugated products facilities, integration costs related to the TimBar Corporation and Columbus Container Inc. acquisitions, and costs related to a lump sum settlement payment of a multiemployer pension plan for one of our corrugated products facilities.
[2]	Includes income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.
[3]	Includes charges related to our determination to discontinue production of uncoated free sheet and coated one-side grades at the Wallula, Washington mill in the second quarter of 2018 and convert the No. 3 paper machine to a high-performance 100% virgin kraft linerboard machine.
[4]	Includes costs for the property damage and business interruption insurance deductible corresponding to the February 2017 explosion at our DeRidder, Louisiana mill.

Other Income (Expense), Net (Parenthetical) (Details)	3 Months Ended
Other Income (Expense), Net (Parenthetical) (Details)	Mar. 31, 2018
Wallula, Washington Mill
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
High-performance of virgin kraft linerboard machine percentage	100.00%

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate, at federal statutory income tax rate, percent	21.00%		35.00%
Maximum measurement period to finalize accounting of tax	1 year
Income tax provision	$ 46.5	$ 61.7
Effective income tax rate, percent	24.90%	34.50%
Tax cuts and jobs act of 2017, reduction in federal tax rate, percent	14.00%
Effective income tax rate, offset by domestic production activities, percent	3.20%
Effective income tax rate, federal benefit of state tax deductions, percent	0.80%
Cash paid for taxes, net of refunds received	$ 10.3	$ 9.7

Inventories - Components of Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 293.9	$ 279.8
Work in process	14.4	12.6
Finished goods	202.2	217.0
Supplies and materials	255.9	253.1
Inventories	$ 766.4	$ 762.5

Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Property, Plant, And Equipment [Line Items]
Property, plant and equipment, at cost	$ 6,414.3	$ 6,311.2
Less accumulated depreciation	(3,452.9)	(3,386.3)
Property, plant, and equipment, net	2,961.4	2,924.9
Land and Land Improvements
Property, Plant, And Equipment [Line Items]
Property, plant and equipment, at cost	158.0	156.0
Buildings
Property, Plant, And Equipment [Line Items]
Property, plant and equipment, at cost	734.4	729.8
Machinery and Equipment
Property, Plant, And Equipment [Line Items]
Property, plant and equipment, at cost	5,212.0	5,162.5
Construction in Progress
Property, Plant, And Equipment [Line Items]
Property, plant and equipment, at cost	239.0	194.5
Other
Property, Plant, And Equipment [Line Items]
Property, plant and equipment, at cost	$ 70.9	$ 68.4

Property, Plant, and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Depreciation [Abstract]
Depreciation expense	$ 94.6	$ 82.4
Incremental depreciation	8.3
Purchases of property, plant, and equipment included in accounts payable	$ 55.2		$ 29.8

Goodwill and Intangible Assets -Goodwill - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Goodwill [Line Items]
Goodwill	$ 883.2	$ 883.2
Packaging
Goodwill [Line Items]
Goodwill	828.0	828.0
Paper
Goodwill [Line Items]
Goodwill	$ 55.2	$ 55.2

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)	11 years 6 months	11 years 8 months 12 days
Gross Carrying Amount	$ 535.0	$ 535.0
Accumulated Amortization	$ 135.4	$ 125.0
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)	11 years 7 months 6 days	11 years 9 months 18 days
Gross Carrying Amount	$ 497.8	$ 497.8
Accumulated Amortization	$ 118.6	$ 109.8
Trademarks and Trade Names
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)	10 years	9 years 9 months 18 days
Gross Carrying Amount	$ 32.9	$ 32.9
Accumulated Amortization	$ 14.6	$ 13.2
Other Intangible Assets
Finite Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)	3 years 4 months 24 days	3 years 7 months 6 days
Gross Carrying Amount	$ 4.3	$ 4.3
Accumulated Amortization	$ 2.2	$ 2.0

Goodwill and Intangible Assets - Intangible Assets (Parenthetical) (Details) - Sacramento Container Corporation - USD ($) $ in Millions	Dec. 31, 2017	Oct. 31, 2017
Finite Lived Intangible Assets [Line Items]
Other intangible assets	$ 72.6
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Other intangible assets		$ 68.4
Trademarks and Trade Names
Finite Lived Intangible Assets [Line Items]
Other intangible assets		4.1
Other Intangible Assets
Finite Lived Intangible Assets [Line Items]
Other intangible assets		$ 0.1

Goodwill and Intangible Assets - Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible assets amortization expense	$ 10.4	$ 8.3

Accrued Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Accrued Liabilities Current [Abstract]
Compensation and benefits	$ 78.4	$ 127.5
Medical insurance and workers’ compensation	25.5	23.9
Customer volume discounts and rebates	16.8	23.4
Franchise, property, sales and use taxes	15.5	16.0
Environmental liabilities and asset retirement obligations	4.4	4.0
Severance, retention, and relocation	3.3	3.1
Other	13.1	5.3
Total	$ 157.0	$ 203.2

Debt - Summary of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt	$ 2,495.8	$ 2,645.7
Less current portion	0.0	150.0
Less unamortized debt issuance costs	14.6	15.3
Long-term debt	$ 2,481.2	$ 2,480.4
Weighted-average interest rate	3.64%	3.80%
6.50% Senior Notes due March 2018 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt		$ 150.0
Stated interest rate		6.50%
2.45% Senior Notes, due December 2020 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 499.5	$ 499.5
Stated interest rate	2.45%	2.45%
3.90% Senior Notes, due June 2022 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 399.8	$ 399.8
Stated interest rate	3.90%	3.90%
4.50% Senior Notes, due November 2023 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 698.9	$ 698.8
Stated interest rate	4.50%	4.50%
3.65% Senior Notes, due September 2024 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 399.2	$ 399.2
Stated interest rate	3.65%	3.65%
3.40% Senior Notes, due December 2027 \| Senior Notes
Debt Instrument [Line Items]
Long-term debt	$ 498.4	$ 498.4
Stated interest rate	3.40%	3.40%
Current Portion of Long-term Debt
Debt Instrument [Line Items]
Weighted-average interest rate	0.00%	6.50%
Long-term Debt, Excluding Current Portion
Debt Instrument [Line Items]
Weighted-average interest rate	3.64%	3.64%

Debt - Summary of Debt (Parenthetical) (Details) - Senior Notes - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
6.50% Senior Notes due March 2018
Debt Instrument [Line Items]
Stated interest rate		6.50%
Debt instrument, maturity date		Mar. 15, 2018
2.45% Senior Notes, due December 2020
Debt Instrument [Line Items]
Stated interest rate	2.45%	2.45%
Debt instrument, maturity date	Dec. 15, 2020	Dec. 15, 2020
Senior notes, discount	$ 0.5	$ 0.5
3.90% Senior Notes, due June 2022
Debt Instrument [Line Items]
Stated interest rate	3.90%	3.90%
Debt instrument, maturity date	Jun. 15, 2022	Jun. 15, 2022
Senior notes, discount	$ 0.2	$ 0.2
4.50% Senior Notes, due November 2023
Debt Instrument [Line Items]
Stated interest rate	4.50%	4.50%
Debt instrument, maturity date	Nov. 01, 2023	Nov. 01, 2023
Senior notes, discount	$ 1.1	$ 1.2
3.65% Senior Notes, due September 2024
Debt Instrument [Line Items]
Stated interest rate	3.65%	3.65%
Debt instrument, maturity date	Sep. 15, 2024	Sep. 15, 2024
Senior notes, discount	$ 0.8	$ 0.8
3.40% Senior Notes, due December 2027
Debt Instrument [Line Items]
Stated interest rate	3.40%	3.40%
Debt instrument, maturity date	Dec. 15, 2027	Dec. 15, 2027
Senior notes, discount	$ 1.6	$ 1.6

Debt - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Cash payments paid for interest	$ 12.5	$ 18.0
Amortization of treasury lock settlements	1.4	1.4
Amortization of financing costs	0.7	$ 0.5
6.50% Senior Notes due March 2018
Debt Instrument [Line Items]
Repayment of debt	150.0
Fixed-Rate Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Book value of fixed rate debt	2,495.8
Long-term debt (fixed-rate debt), fair value	$ 2,515.0

Employee Benefit Plans and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6.2	$ 6.1
Interest cost	10.6	10.4
Expected return on plan assets	(14.2)	(13.5)
Net amortization of unrecognized amounts, Prior service cost	1.8	1.5
Net amortization of unrecognized amounts, Actuarial loss (income)	2.3	1.9
Net periodic benefit cost	6.7	6.4
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.1	0.1
Interest cost	0.1	0.1
Net amortization of unrecognized amounts, Prior service cost	(0.1)
Net periodic benefit cost	$ 0.1	$ 0.2

Employee Benefit Plans and Other Postretirement Benefits - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Contributions [Abstract]
Expected contribution to qualified plans (at least)	$ 4.6
Pension Plans
Pension Contributions [Abstract]
Contributions to pension plan	$ 2.2	$ 3.7

Share-Based Compensation - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018 shares
Share Based Compensation [Abstract]
Long-term equity incentive plan, termination date	May 01, 2023
Number of shares authorized under plan	10,600,000
Number of shares available for future grants under share-based plan	1,000,000

Share-Based Compensation - Summary of Restricted Stock and Performance Unit Award Activity (Details)	3 Months Ended
	Mar. 31, 2018 $ / shares shares
Restricted Stock
Restricted Stock and Performance Units [Roll Forward]
Outstanding at January 1, 2018 \| shares	739,732
Vested \| shares	(3,194)
Forfeitures \| shares	(1,182)
Outstanding at March 31, 2018 \| shares	735,356
Restricted Stock and Performance Units (Weighted Average Grant-date Fair Value) [Abstract]
Weighted Average Grant-Date Fair Value, Outstanding at January 1, 2017 \| $ / shares	$ 77.23
Weighted Average Grant-Date Fair Value, Vested \| $ / shares	74.23
Weighted Average Grant-Date Fair Value, Forfeitures \| $ / shares	78.05
Weighted Average Grant-Date Fair Value, Outstanding at September 30, 2017 \| $ / shares	$ 77.24
Performance Units
Restricted Stock and Performance Units [Roll Forward]
Outstanding at January 1, 2018 \| shares	226,558
Outstanding at March 31, 2018 \| shares	226,558
Restricted Stock and Performance Units (Weighted Average Grant-date Fair Value) [Abstract]
Weighted Average Grant-Date Fair Value, Outstanding at January 1, 2017 \| $ / shares	$ 77.07
Weighted Average Grant-Date Fair Value, Outstanding at September 30, 2017 \| $ / shares	$ 77.07

Share-Based Compensation - Compensation Expense for Restricted Stock and Performance Units (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 5.1	$ 4.6
Income tax benefit	(1.3)	(1.8)
Share-based compensation expense, net of tax benefit	3.8	2.8
Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	3.9	3.4
Performance Units
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 1.2	$ 1.2

Share-Based Compensation - Unrecognized Compensation Expense for Share-Based Awards (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 35.4
Remaining weighted-average recognition period	2 years 4 months 24 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 26.7
Remaining weighted-average recognition period	2 years 3 months 18 days
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 8.7
Remaining weighted-average recognition period	2 years 7 months 6 days

Stockholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions			3 Months Ended
	Apr. 13, 2018	Feb. 27, 2018	Mar. 31, 2018	Mar. 31, 2017	Feb. 25, 2016
Common stock dividends paid			$ 59,400,000	$ 59,400,000
Dividends paid per common share (in dollars per share)		$ 0.63
Stock repurchase program, authorized amount					$ 200,000,000
Repurchases of common stock under stock repurchase program			0
Common stock repurchase authorization amount available			$ 193,000,000
Subsequent Event
Common stock dividends paid	$ 59,400,000

Stockholders' Equity - Changes in Accumulated Other Comprehensive Income by Component (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2018	$ (156.9)
Amounts reclassified from AOCI, net of tax	3.9
Balance at March 31, 2018	(153.0)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2018	(0.3)
Amounts reclassified from AOCI, net of tax	(0.1)
Balance at March 31, 2018	(0.4)
Unfunded Employee Benefit Obligations
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2018	(142.1)
Amounts reclassified from AOCI, net of tax	3.0
Balance at March 31, 2018	(139.1)
Treasury Lock \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2018	(14.2)
Amounts reclassified from AOCI, net of tax	1.0
Balance at March 31, 2018	(13.2)
Foreign Exchange Contract \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2018	(0.3)
Balance at March 31, 2018	$ (0.3)

Stockholders' Equity - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

^[1]

$ 186.6

$ 179.1

Income tax benefit

(46.5)

(61.7)

Unfunded Employee Benefit Obligations | Reclassification out of Accumulated Other Comprehensive Income [Member]

140.1

117.4

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Amortization of prior service costs

(1.7)

(1.5)

Amortization of actuarial gains / (losses)

(2.3)

(1.9)

(4.0)

(3.4)

Income tax benefit

1.0

1.2

Treasury Lock | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member]

(3.0)

(2.2)

Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]

Interest expense, net

(1.4)

Income tax benefit

0.4

0.5

$ (1.0)

$ (0.9)

[1]

Stockholders' Equity - Changes in Accumulated Other Comprehensive Income by Component (Parenthetical) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Equity [Abstract]
Net amount of settlement gains (losses) on derivative instruments included in accumulated OCI to be amortized over next 12 months, before tax	$ (5.2)
Net amount of settlement gains (losses) on derivative instruments included in accumulated OCI to be amortized over next 12 months, after tax	$ (3.9)

Concentrations of Risk - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Concentration Risk [Line Items]
Accounts receivable, net, current	$ 860.2		$ 830.7
Office Depot \| Credit Concentration Risk
Concentration Risk [Line Items]
Accounts receivable, net, current	$ 75.1		$ 33.3
Office Depot \| Total Company Sales Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	7.00%	7.00%
Office Depot \| Total Company Receivables \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	9.00%		4.00%
Paper \| Office Depot \| Paper Segment Sales Revenue \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	45.00%	44.00%	43.00%

Transactions With Related Parties - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Carrying amount of LTP's assets	$ 2.9		$ 3.0
Carrying amount of LTP's liabilities	$ 2.9		$ 3.0
Boise Cascade Co-Owner of LTP
Related Party Transaction [Line Items]
Variable interest entity, ownership percentage	50.00%
Boise Cascade Co-Owner of LTP \| Fiber
Related Party Transaction [Line Items]
Revenue from related parties	$ 20.5	$ 23.5
Fiber costs from related parties	20.5	23.5
Boise Cascade Co-Owner of LTP \| Wood Products, Including Chips and Logs
Related Party Transaction [Line Items]
Fiber costs from related parties	$ 4.0	$ 5.0
Packaging Corporation of America
Related Party Transaction [Line Items]
Variable interest entity, ownership percentage	50.00%

Segment Information - Additional Information (Details)	3 Months Ended
Segment Information - Additional Information (Details)	Mar. 31, 2018 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

$ 1,690.6

$ 1,536.5

^[1]

212.9

203.4

^[1]

(26.3)

(24.3)

Intersegment Eliminations

^[1]

186.6

179.1

Segment Reconciling Items

(35.3)

(33.9)

(35.3)

(33.9)

Packaging

1,396.6

1,251.3

Packaging | Intersegment Eliminations

^[1]

224.7

^[2]

192.5

^[3]

Packaging | Operating Segments

6.3

5.7

1,402.9

1,257.0

Paper

269.4

259.2

Paper | Operating Segments

^[1]

7.2

^[2]

27.9

269.4

259.2

Corporate and Other

24.6

26.0

Corporate and Other | Intersegment Eliminations

^[1]

(19.0)

^[2]

(17.0)

^[3]

Corporate and Other | Operating Segments

29.0

28.2

$ 53.6

$ 54.2

[1]	(a)Effective January 1, 2018, the Company adopted ASU 2017-07, Compensation: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost and applied this standard retrospectively to the prior period reflected herein. This new standard requires the presentation of non-service cost components of net periodic benefits expense to be shown separately outside the subtotal of operating income in the income statement. See Note 2, New and Recently Adopted Accounting Standards, for more information. The components of our financial statements affected by the change in presentation of operating and non-operating pension expense as originally reported in 2017 and as adjusted for the requirements per the new standard are as follows (dollars in millions): Segment income (loss) March 31, 2017 As Reported Non-Operating Pension Adjustment March 31, 2017 Adjusted Packaging $190.8 $1.7 $192.5 Paper 29.8 (1.9) 27.9 Corporate (17.5) 0.5 (17.0) Income from operations 203.1 0.3 203.4 Interest expense, net and other (24.0) (0.3) (24.3) Income before taxes $179.1 $— $179.1
[2]	Includes $0.3 million of charges consisting of closure costs related to corrugated products facilities and a corporate administration facility and $8.8 million of charges related to the announced second quarter 2018 discontinuation of uncoated free sheet and coated one-side grades at the Wallula, Washington mill associated with the conversion of the No. 3 paper machine to a high-performance 100% virgin kraft linerboard machine.
[3]	(c)Includes the following: 1.$0.8 million of charges consisting of closure costs related to corrugated products facilities, integration costs related to the TimBar Corporation and Columbus Container Inc. acquisitions, and costs related to a lump sum settlement payment of a multiemployer pension plan withdrawal liability for one of our corrugated products facilities. 2.$5.0 million of costs for the property damage and business interruption insurance deductible corresponding to the February 2017 explosion at our DeRidder, Louisiana mill. 3.$2.3 million of income related to a working capital adjustment from the April 2015 sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico.

Segment Information (Parenthetical) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

^[1]

$ 212.9

$ 203.4

^[1]

(26.3)

(24.3)

^[1]

$ 186.6

179.1

Wallula, Washington Mill

High-performance of virgin kraft linerboard machine percentage

100.00%

ASU 2017-07 | As Reported

203.1

(24.0)

ASU 2017-07 | Non-Operating Pension Adjustment

179.1

0.3

(0.3)

Packaging

Packaging | Hexacomb Europe and Mexico

^[1]

$ 224.7

^[2]

192.5

^[3]

Acquisition and integration related costs

2.3

Packaging | TimBar Corporation

Packaging | Deridder Mill

Facilities closure costs

0.8

Property damage and business interruption insurance

5.0

Packaging | ASU 2017-07 | As Reported

Packaging | ASU 2017-07 | Non-Operating Pension Adjustment

190.8

1.7

Paper

Paper | Wallula, Washington Mill

^[1]

7.2

^[2]

27.9

High-performance of virgin kraft linerboard machine percentage

Restructuring charges

$ 8.8

100.00%

Paper | ASU 2017-07 | As Reported

Paper | ASU 2017-07 | Non-Operating Pension Adjustment

29.8

(1.9)

Corporate

Corporate | ASU 2017-07 | As Reported

^[1]

$ (19.0)

^[2]

(17.0)

^[3]

Corporate | ASU 2017-07 | Non-Operating Pension Adjustment

(17.5)

Packaging And Corporate And Other

$ 0.5