Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Millions |
3 Months Ended |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Income Statement [Abstract] |
|
|
|
|
| Net sales |
$ 1,484.0
|
$ 1,470.8
|
$ 4,302.4
|
$ 4,350.8
|
| Cost of sales |
(1,154.5)
|
(1,142.5)
|
(3,353.8)
|
(3,427.9)
|
| Gross profit |
329.5
|
328.3
|
948.6
|
922.9
|
| Selling, general, and administrative expenses |
(116.9)
|
(112.7)
|
(346.0)
|
(345.9)
|
| Other income (expense), net |
(6.2)
|
3.8
|
(15.2)
|
(2.9)
|
| Income from operations |
206.4
|
219.4
|
587.4
|
574.1
|
| Interest expense, net |
(23.4)
|
(21.7)
|
(67.5)
|
(63.2)
|
| Income before taxes |
183.0
|
197.7
|
519.9
|
510.9
|
| Income tax provision |
(63.7)
|
(69.9)
|
(181.0)
|
(178.3)
|
| Net income |
119.3
|
127.8
|
338.9
|
332.6
|
| Less net income attributable to noncontrolling interests |
0.0
|
0.0
|
0.0
|
0.0
|
| Net income attributable to Packaging Corporation of America |
$ 119.3
|
$ 127.8
|
$ 338.9
|
$ 332.6
|
| Net income per common share attributable to Packaging Corporation of America common shareholders: |
|
|
|
|
| Basic (in dollars per share) |
$ 1.27
|
$ 1.31
|
$ 3.59
|
$ 3.39
|
| Diluted (in dollars per share) |
1.26
|
1.31
|
3.58
|
3.39
|
| Dividends declared per common share (in dollars per share) |
$ 0.63
|
$ 0.55
|
$ 1.73
|
$ 1.65
|
| Statements of Comprehensive Income: |
|
|
|
|
| Net income |
$ 119.3
|
$ 127.8
|
$ 338.9
|
$ 332.6
|
| Foreign currency translation adjustment |
0.0
|
0.0
|
0.0
|
2.8
|
| Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.5 million, $0.5 million, $1.6 million, and $1.6 million |
0.9
|
0.9
|
2.6
|
2.6
|
| Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.0 million, $1.4 million, $3.1 million, and $4.2 million |
1.8
|
2.1
|
5.0
|
6.5
|
| Changes in unfunded employee benefit obligations net of tax of $2.0 million |
0.0
|
0.0
|
3.1
|
0.0
|
| Other comprehensive income |
2.7
|
3.0
|
10.7
|
11.9
|
| Less net income attributable to noncontrolling interests |
0.0
|
0.0
|
0.0
|
0.0
|
| Comprehensive income attributable to Packaging Corporation of America |
$ 122.0
|
$ 130.8
|
$ 349.6
|
$ 344.5
|