Sealed Air (SEE) 10-Q 1 Nov 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-12139
Entity Registrant Name	SEALED AIR CORP/DE
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	65-0654331
Entity Address, Address Line One	2415 Cascade Pointe Boulevard
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28208
City Area Code	980
Local Phone Number	221-3235
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	SEE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		144,657,522
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001012100
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 248.8	$ 561
Trade receivables, net of allowance for credit losses of $12.0 in 2022 and $11.1 in 2021	637.3	620.3
Income tax receivables	20.8	28.8
Other receivables	95.8	83.7
Inventories, net of inventory reserves of $28.8 in 2022 and $24.1 in 2021 (Note 7)	962.4	725.7
Prepaid expenses and other current assets	66.1	50.1
Total current assets	2,031.2	2,069.6
Property and equipment, net (Note 8)	1,231	1,232
Goodwill (Note 9)	2,157.1	2,189.4
Identifiable intangible assets, net (Note 9)	140.6	152.6
Deferred taxes	117.1	138.4
Non-current assets held for sale	0	1.5
Operating lease right-of-use-assets (Note 4)	70.1	63.8
Other non-current assets	328	382
Total assets	6,075.1	6,229.3
Current liabilities:
Short-term borrowings (Note 13)	2.4	1.3
Current portion of long-term debt (Note 13)	401	487.2
Current portion of operating lease liabilities (Note 4)	22.4	21.2
Accounts payable	912.5	959.9
Accrued restructuring costs (Note 12)	8.5	10.2
Income tax payable	26	22.7
Other current liabilities	504.2	504.8
Total current liabilities	1,877	2,007.3
Long-term debt, less current portion (Note 13)	3,235.7	3,219.6
Long-term operating lease liabilities, less current portion (Note 4)	51.9	44.5
Deferred taxes	51.9	46.7
Non-current liabilities held for sale	0	0.9
Other non-current liabilities	640.4	661.6
Total liabilities	5,856.9	5,980.6
Commitments and contingencies (Note 18)
Stockholders’ equity:
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2022 and 2021	0	0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 233,215,334 in 2022 and 232,483,281 in 2021; shares outstanding: 144,653,991 in 2022 and 148,099,157 in 2021	23.3	23.2
Additional paid-in capital	2,145.2	2,123.4
Retained earnings	3,098.3	2,790.7
Common stock in treasury, 88,561,343 shares in 2022 and 84,384,124 shares in 2021	(4,019.1)	(3,754.7)
Accumulated other comprehensive loss, net of taxes (Note 20)	(1,029.5)	(933.9)
Total stockholders’ equity	218.2	248.7
Total liabilities and stockholders’ equity	$ 6,075.1	$ 6,229.3

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 12	$ 11.1
Inventory reserves	$ 28.8	$ 24.1
Preferred stock, par value per share (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value per share (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares, issued (in shares)	233,215,334	232,483,281
Common stock, shares, outstanding (in shares)	144,653,991	148,099,157
Treasury stock, shares (in shares)	88,561,343	84,384,124

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net sales	$ 1,400.4	$ 1,406.7	$ 4,236	$ 4,002.3
Cost of sales	966.8	1,003	2,887.1	2,796.8
Gross profit	433.6	403.7	1,348.9	1,205.5
Selling, general and administrative expenses	196.3	190.3	600.5	571.2
Amortization expense of intangible assets	8.7	9.7	27	29.1
Restructuring charges (Note 12)	0.6	2.4	4.6	4.5
Operating profit	228	201.3	716.8	600.7
Interest expense, net	(40.9)	(42.4)	(119.3)	(127.6)
Other expense, net (Note 21)	(3.1)	(4.5)	(47.4)	(3.9)
Earnings before income tax provision	184	154.4	550.1	469.2
Income tax provision (Note 17)	51.4	46.6	153.5	147
Net earnings from continuing operations	132.6	107.8	396.6	322.2
Gain (Loss) on sale of discontinued operations, net of tax	1.6	(0.1)	0.7	3.7
Net earnings	$ 134.2	$ 107.7	$ 397.3	$ 325.9
Basic:
Continuing operations (in dollars per share)	$ 0.91	$ 0.72	$ 2.71	$ 2.12
Discontinued operations (in dollars per share)	0.01	0	0.01	0.03
Net earnings per common share - basic (in dollars per share)	0.92	0.72	2.72	2.15
Diluted:
Continuing operations (in dollars per share)	0.91	0.71	2.68	2.10
Discontinued operations (in dollars per share)	0.01	0	0.01	0.03
Net earnings per common share - diluted (n dollars per share)	$ 0.92	$ 0.71	$ 2.69	$ 2.13
Weighted average number of common shares outstanding: (Note 22)
Basic (in shares)	145.2	149.9	146.3	151.8
Diluted (in shares)	146.6	151.4	147.8	153.2

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 134.2	$ 107.7	$ 397.3	$ 325.9
Gross
Recognition of pension items	1.2	2.3	4	5.7
Unrealized gains on derivative instruments for net investment hedge	25.2	11.9	60.5	28
Unrealized gains on derivative instruments for cash flow hedge	4.3	2.8	6.8	7.1
Foreign currency translation adjustments	(90.2)	(35.4)	(149)	(33.4)
Other comprehensive (loss) income	(59.5)	(18.4)	(77.7)	7.4
Taxes
Recognition of pension items	(0.3)	(0.6)	(1)	(2.5)
Unrealized gains on derivative instruments for net investment hedge	(6.3)	(3)	(15.1)	(7)
Unrealized gains on derivative instruments for cash flow hedge	(1.1)	(0.8)	(1.8)	(2)
Foreign currency translation adjustments	0	0	0	0
Other comprehensive (loss) income	(7.7)	(4.4)	(17.9)	(11.5)
Net
Recognition of pension items	0.9	1.7	3	3.2
Unrealized gains on derivative instruments for net investment hedge	18.9	8.9	45.4	21
Unrealized gains on derivative instruments for cash flow hedge	3.2	2	5	5.1
Foreign currency translation adjustments	(90.2)	(35.4)	(149)	(33.4)
Other comprehensive (loss) income	(67.2)	(22.8)	(95.6)	(4.1)
Comprehensive income, net of taxes	$ 67	$ 84.9	$ 301.7	$ 321.8

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Common Stock in Treasury	Accumulated Other Comprehensive Loss, Net of Taxes
Balance at beginning of period at Dec. 31, 2020	$ 172.5	$ 23.2	$ 2,093	$ 2,400.7	$ (3,380.9)	$ (963.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of share-based incentive compensation	19.8		19.8
Stock issued for profit sharing contribution paid in stock	28		0.2		27.8
Repurchases of common stock	(327.9)				(327.9)
Recognition of pension items, net of taxes	3.2					3.2
Foreign currency translation adjustments	(33.4)					(33.4)
Unrealized gain on derivative instruments, net of taxes	26.1					26.1
Net earnings	325.9			325.9
Dividends on common stock	(86.5)			(86.5)
Balance at end of period at Sep. 30, 2021	127.7	23.2	2,113	2,640.1	(3,681)	(967.6)
Balance at beginning of period at Jun. 30, 2021	93.8	23.2	2,103.7	2,562.8	(3,651.1)	(944.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of share-based incentive compensation	9.3		9.3
Repurchases of common stock	(29.9)				(29.9)
Recognition of pension items, net of taxes	1.7					1.7
Foreign currency translation adjustments	(35.4)					(35.4)
Unrealized gain on derivative instruments, net of taxes	10.9					10.9
Net earnings	107.7			107.7
Dividends on common stock	(30.4)			(30.4)
Balance at end of period at Sep. 30, 2021	127.7	23.2	2,113	2,640.1	(3,681)	(967.6)
Balance at beginning of period at Dec. 31, 2021	248.7	23.2	2,123.4	2,790.7	(3,754.7)	(933.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of share-based incentive compensation	15	0.1	14.9
Stock issued for profit sharing contribution paid in stock	22.7		6.9		15.8
Repurchases of common stock	(280.2)				(280.2)
Recognition of pension items, net of taxes	3					3
Foreign currency translation adjustments	(149)					(149)
Unrealized gain on derivative instruments, net of taxes	50.4					50.4
Net earnings	397.3			397.3
Dividends on common stock	(89.7)			(89.7)
Balance at end of period at Sep. 30, 2022	218.2	23.3	2,145.2	3,098.3	(4,019.1)	(1,029.5)
Balance at beginning of period at Jun. 30, 2022	199.7	23.3	2,134.2	2,993.6	(3,989.1)	(962.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of share-based incentive compensation	11	0	11
Repurchases of common stock	(30)				(30)
Recognition of pension items, net of taxes	0.9					0.9
Foreign currency translation adjustments	(90.2)					(90.2)
Unrealized gain on derivative instruments, net of taxes	22.1					22.1
Net earnings	134.2			134.2
Dividends on common stock	(29.5)			(29.5)
Balance at end of period at Sep. 30, 2022	$ 218.2	$ 23.3	$ 2,145.2	$ 3,098.3	$ (4,019.1)	$ (1,029.5)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares				3 Months Ended		9 Months Ended
	Aug. 16, 2022	May 26, 2022	Feb. 25, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends per share common stock (in dollars per share)	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.20	$ 0.60	$ 0.56

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Statement of Cash Flows [Abstract]
Net earnings	$ 134.2	$ 107.7		$ 397.3	$ 325.9
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization				137.8	135.9
Share-based incentive compensation				39.9	33.1
Profit sharing expense				20.5	17
Loss on debt redemption and refinancing activities	0	14.7		11.2	14.7
Provision for allowance for credit losses on trade receivables				6.5	1.3
Provisions for inventory obsolescence				13.6	7.9
Deferred taxes, net				(1)	4.6
Net gain on sale of business				(1.1)	(1.6)
Impairment loss/fair value (gain) on equity investments	0	(6.6)		31.6	(6.6)
Other non-cash items				5.7	9
Changes in operating assets and liabilities:
Trade receivables, net				(65.7)	(117.2)
Inventories, net				(289)	(168.8)
Accounts payable				4.8	173.6
Customer advance payments				7	7.6
Income tax receivable/payable				12.9	44.4
Other assets and liabilities				(11.2)	(103.3)
Net cash provided by operating activities				320.8	377.5
Cash flows from investing activities:
Capital expenditures				(183.5)	(154.8)
Proceeds related to sale of business and property and equipment, net				9.2	1.1
Business acquired in purchase transactions, net of cash acquired				(9.7)	(0.1)
Payments associated with debt, equity and equity method investments			$ (5.7)	(2.6)	(16)
Settlement of foreign currency forward contracts				2.8	7.8
Proceeds of corporate owned life insurance				0	7.7
Net cash used in investing activities				(183.8)	(154.3)
Cash flows from financing activities:
Net proceeds (payments) of short-term borrowings				1.5	(6.7)
Proceeds from long-term debt				423.2	601.5
Payments of long-term debt				(425)	(522.6)
Payments of debt modification/extinguishment costs				(15.1)	(13.3)
Dividends paid on common stock				(89.5)	(86)
Impact of tax withholding on share-based compensation				(26.2)	(14.8)
Repurchases of common stock				(280.2)	(329.5)
Principal payments related to financing leases				(7.7)	(7.8)
Net cash used in financing activities				(419)	(379.2)
Effect of foreign currency exchange rate changes on cash and cash equivalents				(30.2)	1.5
Cash and cash equivalents				561	548.7	$ 548.7
Restricted cash and cash equivalents				0	0	0
Balance, beginning of period				561	548.7	548.7
Net change during the period				(312.2)	(154.5)
Cash and cash equivalents (includes $0.5 in 2021 of cash classified as held for sale)	248.8	394.2		248.8	394.2
Restricted cash and cash equivalents	0	0	$ 0	0	0	$ 0
Balance, end of period	$ 248.8	$ 394.2		248.8	394.2
Supplemental Cash Flow Information:
Interest payments, net of amounts capitalized				128.7	137.8
Income tax payments, net of cash refunds				133.6	75
Restructuring payments including associated costs				19.1	16.4
Non-cash items:
Transfers of shares of common stock from treasury for profit-sharing contributions				$ 22.7	$ 28

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	Sep. 30, 2021 USD ($)
Statement of Cash Flows [Abstract]
Cash classified as held for sale	$ 0.5

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Organization We are a leading global provider of packaging solutions integrating high-performance materials, automation, equipment, and services. Sealed Air Corporation designs and delivers packaging solutions that protect goods, preserve food, automate packaging processes, and enable eCommerce and digital connectivity for packaged goods. Our packaging solutions help customers automate their operations to be increasingly touchless and more resilient, safer, less wasteful, and enhance brand engagement with consumers. We deliver our packaging solutions to an array of end markets including fresh proteins, foods, fluids, medical and healthcare, eCommerce, logistics and omnichannel fulfillment operations, and industrials. Our portfolio of packaging solutions includes CRYOVAC® brand food packaging, SEALED AIR® brand protective packaging, AUTOBAG® brand automated packaging, BUBBLE WRAP® brand packaging, SEE Touchless Automation™ solutions and prismiq™ brand smart packaging and digital printing. We have established leading market positions through our differentiated packaging solutions, well-established customer relationships, iconic brands, and global scale and market access. We conduct substantially all of our business through two wholly-owned subsidiaries, Cryovac, LLC and Sealed Air Corporation (US). Throughout this report, when we refer to “Sealed Air,” “SEE,” the “Company,” “we,” “our,” or “us,” we are referring to Sealed Air Corporation and all of our subsidiaries, except where the context indicates otherwise. Basis of Presentation Our Condensed Consolidated Financial Statements include all of the accounts of the Company and our subsidiaries. We have eliminated all significant intercompany transactions and balances in consolidation. In management’s opinion, all adjustments, consisting only of normal recurring accruals, necessary for a fair statement of our Condensed Consolidated Balance Sheet as of September 30, 2022 and our Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2022 and 2021 have been made. The results set forth in our Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2022 and in our Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year. The Condensed Consolidated Balance Sheet as of December 31, 2021 was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. All amounts are in millions, except per share amounts, and approximate due to rounding. All amounts are presented in U.S. dollar, unless otherwise specified. Our Condensed Consolidated Financial Statements were prepared in accordance with the interim reporting requirements of the SEC. As permitted under those rules, annual footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted. The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ from these estimates. We are responsible for the unaudited Condensed Consolidated Financial Statements and notes included in this report. As these are condensed financial statements, they should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (“2021 Form 10-K”), which was filed with the SEC on February 22, 2022, and with the information contained in our other publicly available filings with the SEC. When we cross reference to a “Note,” we are referring to our “Notes to Condensed Consolidated Financial Statements,” unless the context indicates otherwise. There were no significant changes to our significant accounting policies as disclosed in “Note 2 – Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of our audited consolidated financial statements and notes thereto included in our 2021 Form 10-K. Impact of Highly Inflationary Economy Argentina

Recently Adopted and Issued Acc

Recently Adopted and Issued Accounting Standards	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Recently Adopted and Issued Accounting Standards	Recently Adopted and Issued Accounting Standards Recently Adopted Accounting Standards In July 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments (“ASU 2021-05”). ASU 2021-05 requires a lessor to classify a lease with variable lease payments that do not depend on an index or rate as an operating lease at commencement if the lease would have been classified as a sales-type or direct financing lease and the lessor would have recognized a selling loss at lease commencement. The Company adopted ASU 2021-05 on January 1, 2022. The adoption did not have a material impact on the Company's Condensed Consolidated Financial Statements. Recently Issued Accounting Standards In September 2022, the FASB issued ASU 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations ("ASU 2022-04"). ASU 2022-04 requires the buyer in a supplier finance program to disclose qualitative and quantitative information about the program. ASU 2022-04 is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. We do not believe that the adoption of ASU 2022-04 will have an impact on the Company's Condensed Consolidated Financial Statements with the exception of revised annual disclosures. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance ("ASU 2021-10"). ASU 2021-10 requires business entities to disclose information about certain types of government assistance received in the notes to the financial statements. ASU 2021-10 is effective for annual periods beginning after December 15, 2021. We do not believe that the adoption of ASU 2021-10 will have an impact on the Company's Condensed Consolidated Financial Statements with the exception of new disclosures, if government assistance provided to the Company were to be material in the future. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ("ASU 2021-08"). The new guidance requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Topic 606, Revenue from Contracts with Customers. The standard will not impact acquired contract assets or liabilities from business combinations occurring prior to the adoption date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The impact of adoption on the Company's Condensed Consolidated Financial Statements will be prospective only and will depend on the magnitude of any future business acquisitions.

Revenue Recognition, Contracts

Revenue Recognition, Contracts with Customers	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition, Contracts with Customers	Revenue Recognition, Contracts with Customers Description of Revenue Generating Activities We employ sales, marketing and customer service personnel throughout the world who sell and market our equipment and systems, products, and services to and/or through a large number of distributors, fabricators, converters, eCommerce and mail order fulfillment firms, and contract packaging firms as well as directly to end-users such as food processors, food service businesses, supermarket retailers, pharmaceutical companies, healthcare facilities, medical device manufacturers, and other manufacturers. As discussed in Note 6, “Segments,” our reporting segments are Food and Protective. Our Food applications are largely sold directly to end customers, while our Protective products are sold through business supply distributors and directly to end customers. Food: Food solutions are sold to food processors in fresh red meat, smoked and processed meats, poultry, seafood, plant-based and dairy (solid and liquids) markets worldwide. Food offers integrated packaging materials and automated equipment solutions to increase food safety, extend shelf life, reduce food waste, automate processes and optimize total cost. Its materials, automated equipment and service enables customers to reduce costs and enhance their brands in the marketplace. Food solutions are utilized by food service businesses (such as restaurants and entertainment venues) (“food service”) and food retailers (such as grocery stores and supermarkets) (“food retail”), among others. Solutions serving the food service market include products such as barrier bags and pouches, and are primarily marketed under the CRYOVAC ® trademark and other highly recognized trade names including CRYOVAC ® brand Barrier Bags, CRYOVAC ® brand Form-Fill-Seal Films, and CRYOVAC ® brand Auto Pouch System. Solutions serving the food retail market include products such as barrier bags, film, and trays, and are primarily marketed under the CRYOVAC ® trademark and other highly recognized trade names including CRYOVAC ® brand Grip & Tear TM , CRYOVAC ® brand Darfresh ® , OptiDure™, Simple Steps ® , and CRYOVAC ® brand Barrier Bags. Protective: Protective packaging solutions are utilized across many global markets to protect goods during transit and are especially valuable to eCommerce, consumer goods, pharmaceutical and medical devices and industrial manufacturing. Protective solutions are designed to increase our customers' packaging velocity, minimize packaging waste, reduce labor dependencies and address dimensional weight challenges. Protective solutions are sold through a strategic network of distributors as well as directly to our customers, including, but not limited to, fabricators, original equipment manufacturers, contract manufacturers, logistics partners and eCommerce/fulfillment operations. Protective solutions are marketed under SEALED AIR ® brand, BUBBLE WRAP ® brand, AUTOBAG ® brand and other highly recognized trade names and product families including BUBBLE WRAP ® brand inflatable packaging, SEALED AIR ® brand performance shrink films, AUTOBAG ® brand bagging systems, Instapak ® polyurethane foam packaging solutions and Korrvu ® suspension and retention packaging. In addition, we provide temperature assurance packaging solutions under the Kevothermal TM and TempGuard TM brands. Other Revenue Recognition Considerations: Charges for rebates and other allowances are recognized as a deduction from revenue on an accrual basis in the period in which the associated revenue is recorded. Revenue recognized from performance obligations satisfied in previous reporting periods was a reduction of $2.0 million and $1.8 million for the three and nine months ended September 30, 2022, respectively, and an increase of $0.9 million and $1.7 million for the three and nine months ended September 30, 2021, respectively. The Company does not adjust consideration in contracts with customers for the effects of a significant financing component if the Company expects that the period between transfer of a good or service and payment for that good or service will be one year or less. This is expected to be the case for the majority of the Company's contracts. Lease components within contracts with customers are recognized in accordance with Accounting Standards Codification (“ASC”) Topic 842. Disaggregated Revenue For the three and nine months ended September 30, 2022 and 2021, revenues from contracts with customers summarized by Segment and Geography were as follows: Three Months Ended Nine Months Ended (In millions) Food Protective Total Food Protective Total Americas $ 547.9 $ 376.6 $ 924.5 $ 1,603.5 $ 1,187.5 $ 2,791.0 EMEA 165.0 109.9 274.9 499.9 353.6 853.5 APAC 110.9 82.3 193.2 321.8 246.3 568.1 Topic 606 Segment Revenue 823.8 568.8 1,392.6 2,425.2 1,787.4 4,212.6 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 6.0 1.8 7.8 18.1 5.3 23.4 Total $ 829.8 $ 570.6 $ 1,400.4 $ 2,443.3 $ 1,792.7 $ 4,236.0 Three Months Ended Nine Months Ended (In millions) Food Protective Total Food Protective Total Americas $ 506.3 $ 393.0 $ 899.3 $ 1,399.5 $ 1,114.4 $ 2,513.9 EMEA 170.6 123.7 294.3 490.6 385.7 876.3 APAC 111.5 91.1 202.6 322.9 261.4 584.3 Topic 606 Segment Revenue 788.4 607.8 1,396.2 2,213.0 1,761.5 3,974.5 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 9.0 1.5 10.5 23.3 4.5 27.8 Total $ 797.4 $ 609.3 $ 1,406.7 $ 2,236.3 $ 1,766.0 $ 4,002.3 Contract Balances The time when a performance obligation is satisfied and the time when billing and payment occur are generally closely aligned, subject to agreed payment terms, with the exception of equipment accruals, which can be used to purchase both automated and standard range equipment. An equipment accrual is a contract offering, whereby a customer is incentivized to use a portion of the materials transaction price for future equipment purchases. Long-term contracts that include an equipment accrual create a timing difference between when cash is collected and when the performance obligation is satisfied, resulting in a contract liability (unearned revenue). The following contract assets and liabilities are included within Prepaid expenses and other current assets and Other current liabilities, or Other non-current liabilities on our Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021: (In millions) September 30, 2022 December 31, 2021 Contract assets $ 0.3 $ 1.2 Contract liabilities $ 20.8 $ 20.2 The contract liability balances represent deferred revenue, primarily related to equipment accruals. Revenue recognized in the three and nine months ended September 30, 2022 that was included in the contract liability balance at the beginning of the period was $2.7 million and $10.9 million, respectively, and $3.0 million and $11.6 million in the three and nine months ended September 30, 2021, respectively. This revenue was driven primarily by equipment performance obligations being satisfied. Remaining Performance Obligations The following table summarizes the estimated transaction price from contracts with customers allocated to performance obligations or portions of performance obligations that have not yet been satisfied as of September 30, 2022 and December 31, 2021, as well as the expected timing of recognition of that transaction price. (In millions) September 30, 2022 December 31, 2021 Short-Term (12 months or less) (1) $ 16.7 $ 15.9 Long-Term 4.1 4.3 Total transaction price $ 20.8 $ 20.2

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Leases Lessor SEE has contractual obligations as a lessor with respect to some of our automated and equipment solutions including "free on loan" equipment and leased equipment, both sales-type and operating. The consideration in a contract that contains both lease and non-lease components is allocated based on the standalone selling price. Our contractual obligations for operating leases can include termination and renewal options. Our contractual obligations for sales-type leases tend to have fixed terms and can include purchase options. We utilize the reasonably certain threshold criteria in determining which options our customers will exercise. All lease payments are primarily fixed in nature and therefore captured in the lease receivable. Our sales-type lease receivable balances at September 30, 2022 and December 31, 2021 were as follows: (In millions) September 30, 2022 December 31, 2021 Short-Term (12 months or less) $ 6.0 $ 5.7 Long-Term 16.8 18.8 Lease receivables $ 22.8 $ 24.5 Sales-type and operating lease revenue was less than 1% of net trade sales for the nine months ended September 30, 2022 and year ended December 31, 2021. Lessee SEE has contractual obligations as a lessee with respect to warehouses, offices and manufacturing facilities, IT equipment, automobiles, and material production equipment. The following table details our lease obligations included in our Condensed Consolidated Balance Sheets. (In millions) September 30, 2022 December 31, 2021 Other non-current assets: Finance leases - ROU assets $ 57.0 $ 58.0 Finance leases - Accumulated depreciation (30.4) (27.3) Operating lease right-of-use-assets: Operating leases - ROU assets 150.1 133.5 Operating leases - Accumulated depreciation (80.0) (69.7) Total lease assets $ 96.7 $ 94.5 Current portion of long-term debt: Finance leases $ (8.4) (10.2) Current portion of operating lease liabilities: Operating leases (22.4) (21.2) Long-term debt, less current portion: Finance leases (17.5) (19.2) Long-term operating lease liabilities, less current portion: Operating leases (51.9) (44.5) Total lease liabilities $ (100.2) $ (95.1) At September 30, 2022, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows: (In millions) Finance leases Operating leases Remainder of 2022 $ 3.0 $ 6.9 2023 8.4 24.1 2024 4.2 17.8 2025 2.7 13.2 2026 2.1 10.0 Thereafter 10.1 11.0 Total lease payments 30.5 83.0 Less: Interest (4.6) (8.7) Present value of lease liabilities $ 25.9 $ 74.3 The following lease cost is included in our Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Lease cost (1) Finance leases Amortization of ROU assets $ 2.6 $ 2.7 $ 7.9 $ 7.9 Interest on lease liabilities 0.3 0.3 1.0 1.1 Operating leases 7.3 7.7 23.6 23.0 Short-term lease cost 0.9 1.3 2.2 3.8 Variable lease cost 1.9 1.8 5.3 4.5 Total lease cost $ 13.0 $ 13.8 $ 40.0 $ 40.3 (1) With the exception of Interest on lease liabilities, we record lease costs to Cost of sales or Selling, general and administrative expenses on the Condensed Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities is recorded to Interest expense, net on the Condensed Consolidated Statements of Operations. The following table details cash paid related to operating and finance leases included in our Condensed Consolidated Statements of Cash Flows and new ROU assets included in our Condensed Consolidated Balance Sheets: Nine Months Ended (In millions) 2022 2021 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - finance leases $ 4.2 $ 3.6 Operating cash flows - operating leases $ 22.4 $ 22.5 Financing cash flows - finance leases $ 7.7 $ 7.8 ROU assets obtained in exchange for new finance lease liabilities $ 5.4 $ 4.7 ROU assets obtained in exchange for new operating lease liabilities $ 29.7 $ 14.0 Nine Months Ended 2022 2021 Weighted average information: Finance leases Remaining lease term (in years) 5.9 5.9 Discount rate 4.7 % 4.6 % Operating leases Remaining lease term (in years) 4.4 4.4 Discount rate 4.7 % 4.7 %
Leases	Leases Lessor SEE has contractual obligations as a lessor with respect to some of our automated and equipment solutions including "free on loan" equipment and leased equipment, both sales-type and operating. The consideration in a contract that contains both lease and non-lease components is allocated based on the standalone selling price. Our contractual obligations for operating leases can include termination and renewal options. Our contractual obligations for sales-type leases tend to have fixed terms and can include purchase options. We utilize the reasonably certain threshold criteria in determining which options our customers will exercise. All lease payments are primarily fixed in nature and therefore captured in the lease receivable. Our sales-type lease receivable balances at September 30, 2022 and December 31, 2021 were as follows: (In millions) September 30, 2022 December 31, 2021 Short-Term (12 months or less) $ 6.0 $ 5.7 Long-Term 16.8 18.8 Lease receivables $ 22.8 $ 24.5 Sales-type and operating lease revenue was less than 1% of net trade sales for the nine months ended September 30, 2022 and year ended December 31, 2021. Lessee SEE has contractual obligations as a lessee with respect to warehouses, offices and manufacturing facilities, IT equipment, automobiles, and material production equipment. The following table details our lease obligations included in our Condensed Consolidated Balance Sheets. (In millions) September 30, 2022 December 31, 2021 Other non-current assets: Finance leases - ROU assets $ 57.0 $ 58.0 Finance leases - Accumulated depreciation (30.4) (27.3) Operating lease right-of-use-assets: Operating leases - ROU assets 150.1 133.5 Operating leases - Accumulated depreciation (80.0) (69.7) Total lease assets $ 96.7 $ 94.5 Current portion of long-term debt: Finance leases $ (8.4) (10.2) Current portion of operating lease liabilities: Operating leases (22.4) (21.2) Long-term debt, less current portion: Finance leases (17.5) (19.2) Long-term operating lease liabilities, less current portion: Operating leases (51.9) (44.5) Total lease liabilities $ (100.2) $ (95.1) At September 30, 2022, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows: (In millions) Finance leases Operating leases Remainder of 2022 $ 3.0 $ 6.9 2023 8.4 24.1 2024 4.2 17.8 2025 2.7 13.2 2026 2.1 10.0 Thereafter 10.1 11.0 Total lease payments 30.5 83.0 Less: Interest (4.6) (8.7) Present value of lease liabilities $ 25.9 $ 74.3 The following lease cost is included in our Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Lease cost (1) Finance leases Amortization of ROU assets $ 2.6 $ 2.7 $ 7.9 $ 7.9 Interest on lease liabilities 0.3 0.3 1.0 1.1 Operating leases 7.3 7.7 23.6 23.0 Short-term lease cost 0.9 1.3 2.2 3.8 Variable lease cost 1.9 1.8 5.3 4.5 Total lease cost $ 13.0 $ 13.8 $ 40.0 $ 40.3 (1) With the exception of Interest on lease liabilities, we record lease costs to Cost of sales or Selling, general and administrative expenses on the Condensed Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities is recorded to Interest expense, net on the Condensed Consolidated Statements of Operations. The following table details cash paid related to operating and finance leases included in our Condensed Consolidated Statements of Cash Flows and new ROU assets included in our Condensed Consolidated Balance Sheets: Nine Months Ended (In millions) 2022 2021 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - finance leases $ 4.2 $ 3.6 Operating cash flows - operating leases $ 22.4 $ 22.5 Financing cash flows - finance leases $ 7.7 $ 7.8 ROU assets obtained in exchange for new finance lease liabilities $ 5.4 $ 4.7 ROU assets obtained in exchange for new operating lease liabilities $ 29.7 $ 14.0 Nine Months Ended 2022 2021 Weighted average information: Finance leases Remaining lease term (in years) 5.9 5.9 Discount rate 4.7 % 4.6 % Operating leases Remaining lease term (in years) 4.4 4.4 Discount rate 4.7 % 4.7 %

Acquisition and Divestiture Act

Acquisition and Divestiture Activity	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Acquisition and Divestiture Activity	Acquisition and Divestiture Activity Acquisition of Foxpak Flexibles Ltd. On February 2, 2022, SEE acquired Foxpak Flexibles Ltd. (“Foxpak”), a privately-owned Irish packaging solutions company. Foxpak is a digital printing pioneer that partners with brands to deliver highly decorated packaging solutions; stand-up and spout pouches, and sachets that serve a variety of markets including food retail, pet food, seafood, and snacks. This transaction resulted in a purchase price paid of $9.7 million, including the final purchase price adjustments that were recorded in the second quarter of 2022. The Company allocated the consideration transferred to the fair value of assets acquired and liabilities assumed, resulting in an allocation to goodwill of $5.3 million and an allocation to identifiable intangible assets of $2.7 million. The acquisition is included in our Food reporting segment. Goodwill is not deductible for tax purposes. A deferred tax liability of $0.3 million on identifiable intangible assets was recorded on the opening balance sheet. Divestiture of Reflectix, Inc. On November 1, 2021, the Company completed the sale of Reflectix, Inc. (“Reflectix”), a wholly-owned subsidiary that sells branded reflective insulation solutions, with operations located in Markleville, Indiana. The decision to sell this business was consistent with the Company's overall strategic priorities focused on packaging solutions. Reflectix was previously included within the Protective reporting segment. The disposal does not represent a strategic shift that will have a major effect on our operations and financial results and therefore did not qualify as a discontinued operation. The selling price of the business was $82.5 million, paid in cash during the fourth quarter 2021. We recorded a $45.3 million pre-tax gain on the sale of the business, within Gain (Loss) on sale of businesses and property and equipment on the Consolidated Statements of Operations for the year ended December 31, 2021. The business had a net carrying value of $35.8 million, which included inventory of $6.8 million, trade receivables of $6.6 million, property and equipment of $1.0 million, and goodwill of $23.2 million. The goodwill is not deductible for tax purposes. The assets were partially offset by accrued liabilities which were individually immaterial. We recorded $17.3 million in tax expense related to the gain from the sale of Reflectix within Income tax provision on the Consolidated Statements of Operations for the year ended December 31, 2021. In the second quarter of 2022, we recorded a gain of $0.4 million related to the final net working capital settlement within Selling, general and administrative expenses on the Condensed Consolidated Statements of Operations. We maintain no on-going investment or relationship that would result in the sold business becoming a related party.

Segments

Segments	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segments	Segments The Company’s segment reporting structure consists of two reportable segments as follows and a Corporate category: • Food • Protective The Company’s Food and Protective segments are considered reportable segments under FASB ASC Topic 280. Our reportable segments are aligned with similar groups of products. Corporate includes certain costs that are not allocated to the reportable segments. The Company evaluates performance of the reportable segments based on the results of each segment. The performance metric used by the Company's chief operating decision maker to evaluate performance of our reportable segments is Segment Adjusted EBITDA. The Company allocates expense to each segment based on various factors including direct usage of resources, allocation of headcount, allocation of software licenses or, in cases where costs are not clearly delineated, costs may be allocated on portion of either net trade sales or an expense factor such as cost of sales. We allocate and disclose depreciation and amortization expense to our segments, although depreciation and amortization are not included in the segment performance metric Segment Adjusted EBITDA. We also allocate and disclose restructuring charges by segment, although they are not included in the segment performance metric Segment Adjusted EBITDA since restructuring charges are categorized as Special Items (as identified below). The accounting policies of the reportable segments and Corporate are the same as those applied to the Condensed Consolidated Financial Statements. The following tables show Net sales and Segment Adjusted EBITDA by reportable segment: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Net sales: Food $ 829.8 $ 797.4 $ 2,443.3 $ 2,236.3 As a % of Consolidated net sales 59.3 % 56.7 % 57.7 % 55.9 % Protective 570.6 609.3 1,792.7 1,766.0 As a % of Consolidated net sales 40.7 % 43.3 % 42.3 % 44.1 % Consolidated Net sales $ 1,400.4 $ 1,406.7 $ 4,236.0 $ 4,002.3 Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Segment Adjusted EBITDA: Food $ 185.3 $ 169.4 $ 553.4 $ 484.4 Adjusted EBITDA Margin 22.3 % 21.2 % 22.6 % 21.7 % Protective 109.5 102.7 363.2 319.9 Adjusted EBITDA Margin 19.2 % 16.9 % 20.3 % 18.1 % Total Segment Adjusted EBITDA $ 294.8 $ 272.1 $ 916.6 $ 804.3 The following table shows a reconciliation of Segment Adjusted EBITDA to Earnings before income tax provision: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Food Adjusted EBITDA $ 185.3 $ 169.4 $ 553.4 $ 484.4 Protective Adjusted EBITDA 109.5 102.7 363.2 319.9 Corporate Adjusted EBITDA (2.2) (1.5) (3.6) (2.4) Interest expense, net (40.9) (42.4) (119.3) (127.6) Depreciation and amortization (1) (59.4) (55.2) (179.0) (170.3) Special Items: Restructuring charges (2) (0.6) (2.4) (4.6) (4.5) Other restructuring associated costs (3) (1.6) (5.4) (8.5) (15.5) Foreign currency exchange loss due to highly inflationary economies (2.2) (0.9) (5.9) (2.9) Loss on debt redemption and refinancing activities — (14.7) (11.2) (14.7) Fair value gain/impairment (loss) on equity investments — 6.6 (31.6) 6.6 Charges related to acquisition and divestiture activity (0.3) (0.8) 0.8 (1.9) Other Special Items (4) (3.6) (1.0) (3.6) (1.9) Pre-tax impact of Special Items (8.3) (18.6) (64.6) (34.8) Earnings before income tax provision $ 184.0 $ 154.4 $ 550.1 $ 469.2 (1) Depreciation and amortization by segment were as follows: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Food $ 34.4 $ 32.3 $ 103.7 $ 96.7 Protective 25.0 22.9 75.3 73.6 Total Company depreciation and amortization (i) $ 59.4 $ 55.2 $ 179.0 $ 170.3 (i) Includes share-based incentive compensation of $12.7 million and $41.3 million for the three and nine months ended September 30, 2022, respectively, and $10.6 million and $34.4 million for the three and nine months ended September 30, 2021, respectively. (2) Restructuring charges by segment were as follows: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Food $ 0.6 $ 0.8 $ 3.1 $ 1.9 Protective — 1.6 1.5 2.6 Total Company restructuring charges $ 0.6 $ 2.4 $ 4.6 $ 4.5 (3) Restructuring associated costs for the three and nine months ended September 30, 2022 and 2021 primarily relate to fees paid to third-party consultants in support of the Reinvent SEE business transformation. The nine months ended September 30, 2022 also includes site consolidation costs and the nine months ended September 30, 2021 also includes a one-time, non-cash cumulative translation adjustment (CTA) loss recognized due to the wind-up of one of our legal entities. (4) Other Special Items for the three and nine months ended September 30, 2022 relate to fees paid for professional services, including legal fees, directly associated with Special Items of events that are considered one-time or infrequent in nature. For the nine months ended September 30, 2022, the professional fees are partially offset by a one-time gain on the disposal of land in the United Kingdom (UK). Assets by Reportable Segments The following table shows assets allocated by reportable segment. Assets allocated by reportable segment include: trade receivables, net; inventory, net; property and equipment, net; goodwill; intangible assets, net; and leased systems, net. (In millions) September 30, 2022 December 31, 2021 Assets allocated to segments: Food $ 2,371.8 $ 2,169.0 Protective 2,844.2 2,844.3 Total segments 5,216.0 5,013.3 Assets not allocated: Cash and cash equivalents $ 248.8 $ 561.0 Non-current assets held for sale — 1.5 Income tax receivables 20.8 28.8 Other receivables 95.8 83.7 Deferred taxes 117.1 138.4 Other 376.6 402.6 Total $ 6,075.1 $ 6,229.3

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net The following table details our inventories, net: (In millions) September 30, 2022 December 31, 2021 Raw materials $ 240.7 $ 167.6 Work in process 195.9 158.0 Finished goods 525.8 400.1 Total $ 962.4 $ 725.7

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net The following table details our property and equipment, net. (In millions) September 30, 2022 December 31, 2021 Land and improvements $ 42.6 $ 47.0 Buildings 763.2 790.2 Machinery and equipment 2,551.1 2,554.0 Other property and equipment 121.7 124.2 Construction-in-progress 193.5 200.8 Property and equipment, gross 3,672.1 3,716.2 Accumulated depreciation and amortization (2,441.1) (2,484.2) Property and equipment, net $ 1,231.0 $ 1,232.0 The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment and finance lease ROU assets. Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Interest cost capitalized $ 2.4 $ 2.0 $ 6.1 $ 5.2 Depreciation and amortization expense (1) $ 38.0 $ 34.9 $ 110.7 $ 106.8 (1) Includes amortization expense of finance lease ROU assets of $2.6 million and $7.9 million for the three and nine months ended September 30, 2022, respectively, and $2.7 million and $7.9 million for the three and nine months ended September 30, 2021, respectively.

Goodwill and Identifiable Intan

Goodwill and Identifiable Intangible Assets, net	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Identifiable Intangible Assets, net	Goodwill and Identifiable Intangible Assets, net Goodwill We review goodwill for impairment on a reporting unit basis annually during the fourth quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Since the date of our last annual goodwill impairment assessment, we have not identified any changes in circumstances that would indicate the carrying value of goodwill is not recoverable. Allocation of Goodwill to Reporting Segment The following table shows our goodwill balances by reportable segment: (In millions) Food Protective Total Gross Carrying Value at December 31, 2021 $ 576.6 $ 1,803.0 $ 2,379.6 Accumulated amortization (1) (49.3) (140.9) (190.2) Carrying Value at December 31, 2021 $ 527.3 $ 1,662.1 $ 2,189.4 Acquisition (2) 5.3 — 5.3 Currency translation (16.8) (20.8) (37.6) Carrying Value at September 30, 2022 $ 515.8 $ 1,641.3 $ 2,157.1 (1) There was no change to our accumulated amortization balance during the nine months ended September 30, 2022. (2) Represents the allocation of goodwill related to our acquisition of Foxpak. See Note 5, "Acquisition and Divestiture Activity," for further details. Identifiable Intangible Assets, net The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of September 30, 2022, there were no impairment indicators present. September 30, 2022 December 31, 2021 (In millions) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer relationships $ 96.3 $ (44.7) $ 51.6 $ 102.7 $ (42.4) $ 60.3 Trademarks and tradenames 30.5 (13.5) 17.0 31.2 (11.5) 19.7 Software 143.7 (105.9) 37.8 125.5 (90.5) 35.0 Technology 65.6 (42.0) 23.6 64.9 (38.3) 26.6 Contracts 11.3 (9.6) 1.7 11.5 (9.4) 2.1 Total intangible assets with definite lives 347.4 (215.7) 131.7 335.8 (192.1) 143.7 Trademarks and tradenames with indefinite lives 8.9 — 8.9 8.9 — 8.9 Total identifiable intangible assets, net $ 356.3 $ (215.7) $ 140.6 $ 344.7 $ (192.1) $ 152.6 The following table shows the remaining estimated future amortization expense at September 30, 2022. Year Amount (In millions) Remainder of 2022 $ 9.5 2023 31.0 2024 24.2 2025 18.3 2026 8.8 Thereafter 39.9 Total $ 131.7

Accounts Receivable Securitizat

Accounts Receivable Securitization Programs	9 Months Ended
	Sep. 30, 2022
Transfers and Servicing [Abstract]
Accounts Receivable Securitization Programs	Accounts Receivable Securitization Programs U.S. Accounts Receivable Securitization Program We and a group of our U.S. operating subsidiaries maintain an accounts receivable securitization program under which they sell eligible U.S. accounts receivable to a wholly-owned subsidiary that was formed for the sole purpose of entering into this program. The wholly-owned subsidiary in turn may sell an undivided fractional ownership interest in these receivables to two banks and issuers of commercial paper administered by these banks. The wholly-owned subsidiary retains the receivables it purchases from the operating subsidiaries. Any transfers of fractional ownership interests of receivables under the U.S. receivables securitization program to the two banks and issuers of commercial paper administered by these banks are considered secured borrowings with the underlying receivables as collateral and will be classified as Short-term borrowings on our Condensed Consolidated Balance Sheets. These banks do not have any recourse against the general credit of the Company. The net trade receivables that served as collateral for these borrowings are reclassified from Trade receivables, net to Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. There were no borrowings or corresponding net trade receivables maintained as collateral as of September 30, 2022 or December 31, 2021. As of September 30, 2022, the maximum purchase limit for receivable interests was $50.0 million, subject to the availability limits described below. The amounts available from time to time under this program may be less than $50.0 million due to a number of factors, including but not limited to our credit ratings, trade receivable balances, the creditworthiness of our customers and our receivables collection experience. As of September 30, 2022, the amount available to us under the program was $50.0 million. Although we do not believe restrictions under this program presently materially restrict our operations, if an additional event occurs that triggers one of these restrictive provisions, we could experience a decline in the amounts available to us under the program or termination of the program. The program expires annually and is renewable. European Accounts Receivable Securitization Program We and a group of our European subsidiaries maintain an accounts receivable securitization program with a special purpose vehicle, or SPV, two banks, and issuers of commercial paper administered by these banks. The European program is structured to be a securitization of certain trade receivables that are originated by certain of our European subsidiaries. The SPV borrows funds from the banks to fund its acquisition of the receivables and provides the banks with a first priority perfected security interest in the accounts receivable. We do not have an equity interest in the SPV. We concluded the SPV is a variable interest entity because its total equity investment at risk is not sufficient to permit the SPV to finance its activities without additional subordinated financial support from the bank via loans or via the collections from accounts receivable already purchased. Additionally, we are considered the primary beneficiary of the SPV since we control the activities of the SPV and are exposed to the risk of uncollectible receivables held by the SPV. Therefore, the SPV is consolidated in our Condensed Consolidated Financial Statements. Any activity between the participating subsidiaries and the SPV is eliminated in consolidation. Loans from the banks to the SPV will be classified as Short-term borrowings on our Condensed Consolidated Balance Sheets. The net trade receivables that served as collateral for these borrowings are reclassified from Trade receivables, net to Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. There were no borrowings or corresponding net trade receivables maintained as collateral as of September 30, 2022 or December 31, 2021. As of September 30, 2022, the maximum purchase limit for receivable interests was €80.0 million ($78.5 million equivalent at September 30, 2022), subject to availability limits. The terms and provisions of this program are similar to our U.S. program discussed above. As of September 30, 2022, the amount available under this program before utilization was €80.0 million ($78.5 million equivalent as of September 30, 2022). This program expires annually and is renewable. Utilization of Our Accounts Receivable Securitization Programs As of September 30, 2022 and December 31, 2021, there were no outstanding borrowings under our U.S. or European programs. We continue to service the trade receivables supporting the programs, and the banks are permitted to re-pledge this collateral. The total interest paid for these programs was $0.1 million for the three and nine months ended September 30, 2022 and there was no interest paid for these programs in the three and nine months ended September 30, 2021. Under limited circumstances, the banks and the issuers of commercial paper can end purchases of receivables interests before the above expiration dates. A failure to comply with debt leverage or various other ratios related to our receivables collection experience could result in termination of the receivables programs. We were in compliance with these ratios at September 30, 2022.

Accounts Receivable Factoring A

Accounts Receivable Factoring Agreements	9 Months Ended
	Sep. 30, 2022
Transfers and Servicing [Abstract]
Accounts Receivable Factoring Agreements	Accounts Receivable Securitization Programs U.S. Accounts Receivable Securitization Program We and a group of our U.S. operating subsidiaries maintain an accounts receivable securitization program under which they sell eligible U.S. accounts receivable to a wholly-owned subsidiary that was formed for the sole purpose of entering into this program. The wholly-owned subsidiary in turn may sell an undivided fractional ownership interest in these receivables to two banks and issuers of commercial paper administered by these banks. The wholly-owned subsidiary retains the receivables it purchases from the operating subsidiaries. Any transfers of fractional ownership interests of receivables under the U.S. receivables securitization program to the two banks and issuers of commercial paper administered by these banks are considered secured borrowings with the underlying receivables as collateral and will be classified as Short-term borrowings on our Condensed Consolidated Balance Sheets. These banks do not have any recourse against the general credit of the Company. The net trade receivables that served as collateral for these borrowings are reclassified from Trade receivables, net to Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. There were no borrowings or corresponding net trade receivables maintained as collateral as of September 30, 2022 or December 31, 2021. As of September 30, 2022, the maximum purchase limit for receivable interests was $50.0 million, subject to the availability limits described below. The amounts available from time to time under this program may be less than $50.0 million due to a number of factors, including but not limited to our credit ratings, trade receivable balances, the creditworthiness of our customers and our receivables collection experience. As of September 30, 2022, the amount available to us under the program was $50.0 million. Although we do not believe restrictions under this program presently materially restrict our operations, if an additional event occurs that triggers one of these restrictive provisions, we could experience a decline in the amounts available to us under the program or termination of the program. The program expires annually and is renewable. European Accounts Receivable Securitization Program We and a group of our European subsidiaries maintain an accounts receivable securitization program with a special purpose vehicle, or SPV, two banks, and issuers of commercial paper administered by these banks. The European program is structured to be a securitization of certain trade receivables that are originated by certain of our European subsidiaries. The SPV borrows funds from the banks to fund its acquisition of the receivables and provides the banks with a first priority perfected security interest in the accounts receivable. We do not have an equity interest in the SPV. We concluded the SPV is a variable interest entity because its total equity investment at risk is not sufficient to permit the SPV to finance its activities without additional subordinated financial support from the bank via loans or via the collections from accounts receivable already purchased. Additionally, we are considered the primary beneficiary of the SPV since we control the activities of the SPV and are exposed to the risk of uncollectible receivables held by the SPV. Therefore, the SPV is consolidated in our Condensed Consolidated Financial Statements. Any activity between the participating subsidiaries and the SPV is eliminated in consolidation. Loans from the banks to the SPV will be classified as Short-term borrowings on our Condensed Consolidated Balance Sheets. The net trade receivables that served as collateral for these borrowings are reclassified from Trade receivables, net to Prepaid expenses and other current assets on the Condensed Consolidated Balance Sheets. There were no borrowings or corresponding net trade receivables maintained as collateral as of September 30, 2022 or December 31, 2021. As of September 30, 2022, the maximum purchase limit for receivable interests was €80.0 million ($78.5 million equivalent at September 30, 2022), subject to availability limits. The terms and provisions of this program are similar to our U.S. program discussed above. As of September 30, 2022, the amount available under this program before utilization was €80.0 million ($78.5 million equivalent as of September 30, 2022). This program expires annually and is renewable. Utilization of Our Accounts Receivable Securitization Programs As of September 30, 2022 and December 31, 2021, there were no outstanding borrowings under our U.S. or European programs. We continue to service the trade receivables supporting the programs, and the banks are permitted to re-pledge this collateral. The total interest paid for these programs was $0.1 million for the three and nine months ended September 30, 2022 and there was no interest paid for these programs in the three and nine months ended September 30, 2021. Under limited circumstances, the banks and the issuers of commercial paper can end purchases of receivables interests before the above expiration dates. A failure to comply with debt leverage or various other ratios related to our receivables collection experience could result in termination of the receivables programs. We were in compliance with these ratios at September 30, 2022.

Restructuring Activities

Restructuring Activities	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities For the three and nine months ended September 30, 2022, the Company incurred $0.6 million and $4.6 million of restructuring charges, respectively, and $1.6 million and $8.5 million of other costs associated with our restructuring program, respectively. These charges were incurred in connection with the Company’s Reinvent SEE business transformation. In December 2018, the Board of Directors approved our Reinvent SEE business transformation, which included the related restructuring program (“Program”). Spend associated with our previously existing restructuring programs at the time of Reinvent SEE’s approval was substantially completed as of December 31, 2020, and is no longer included in the restructuring program totals below. The Board of Directors originally approved the Program with a cumulative restructuring spend of up to $220 million and a three Restructuring spend is estimated to be incurred as follows: (In millions) Total Restructuring Program Range Less Program Spend to Date Remaining Restructuring Spend Low High Low High Costs of reduction in headcount as a result of reorganization $ 80 $ 85 $ (79) $ 1 $ 6 Other expenses associated with the Program 110 115 (110) — 5 Total expense $ 190 $ 200 $ (189) $ 1 $ 11 Capital expenditures 20 20 (19) 1 1 Total estimated cash cost (1) $ 210 $ 220 $ (208) $ 2 $ 12 (1) Total estimated cash cost excludes the impact of proceeds expected from the sale of property and equipment and foreign currency impact. The following table details our aggregate restructuring activities incurred under the Program as reflected in the Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Other associated costs $ 1.6 $ 5.4 $ 8.5 $ 15.5 Restructuring charges 0.6 2.4 4.6 4.5 Total charges $ 2.2 $ 7.8 $ 13.1 $ 20.0 Capital expenditures $ 3.3 $ 1.7 $ 9.1 $ 5.0 The aggregate restructuring accrual, spending and other activity for the nine months ended September 30, 2022 and the accrual balance remaining at September 30, 2022 related to the Program were as follows: (In millions) Restructuring accrual at December 31, 2021 $ 11.3 Accrual and accrual adjustments 4.6 Cash payments during 2022 (6.9) Effect of changes in foreign currency exchange rates (0.3) Restructuring accrual at September 30, 2022 $ 8.7 We expect to pay $8.5 million of the accrual balance remaining at September 30, 2022 within the next twelve months. This amount is included in Accrued restructuring costs on the Condensed Consolidated Balance Sheets at September 30, 2022. The remaining accrual of $0.2 million is expected to primarily be paid in 2023. These amounts are included in Other non-current liabilities on our Condensed Consolidated Balance Sheets at September 30, 2022. One of the components of the Reinvent SEE business transformation was to enhance the operational efficiency of the Company by acting as “One SEE.” The Program was approved by our Board of Directors as a consolidated program benefiting both Food and Protective, and accordingly the expected Program spend by reporting segment is not available. However, of the total remaining restructuring accrual of $8.7 million as of September 30, 2022, $3.0 million was attributable to Food and $5.7 million was attributable to Protective.

Debt and Credit Facilities

Debt and Credit Facilities	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt and Credit Facilities	Debt and Credit Facilities Our total debt outstanding consisted of the amounts set forth in the following table: (In millions) Interest rate September 30, 2022 December 31, 2021 Short-term borrowings (1) $ 2.4 $ 1.3 Current portion of long-term debt (2) 401.0 487.2 Total current debt 403.4 488.5 Term Loan A due July 2023 — 34.6 Term Loan A due March 2027 504.1 — Senior Notes due April 2023 5.250 % — 423.8 Senior Notes due September 2023 4.500 % — 451.9 Senior Notes due December 2024 5.125 % 423.3 422.8 Senior Notes due September 2025 5.500 % 398.6 398.2 Senior Secured Notes due October 2026 1.573 % 595.7 595.0 Senior Notes due December 2027 4.000 % 421.8 421.4 Senior Notes due April 2029 5.000 % 421.1 — Senior Notes due July 2033 6.875 % 446.4 446.2 Other (2) 24.7 25.7 Total long-term debt, less current portion (3) 3,235.7 3,219.6 Total debt (4) $ 3,639.1 $ 3,708.1 (1) Short-term borrowings of $2.4 million and $1.3 million at September 30, 2022 and December 31, 2021, respectively, were comprised of short-term borrowings from various lines of credit. (2) As of September 30, 2022, current portion of long-term debt included Senior Notes due September 2023 of $392.6 million and finance lease liabilities of $8.4 million. As of December 31, 2021, current portion of long-term debt included $475.0 million related to the Term Loan A due August 2022, finance lease liabilities of $10.2 million and $2.0 million related to a portion of Term Loan A due 2023. Other debt includes long-term liabilities associated with our finance leases of $17.5 million and $19.2 million at September 30, 2022 and December 31, 2021, respectively. See Note 4, "Leases," for additional information on finance and operating lease liabilities. (3) Amounts are shown net of unamortized discounts and issuance costs of $20.0 million as of September 30, 2022 and $19.0 million as of December 31, 2021. (4) As of September 30, 2022, our weighted average interest rate on our short-term borrowings outstanding was 5.1% and on our long-term debt outstanding was 4.4%. As of December 31, 2021, our weighted average interest rate on our short-term borrowings outstanding was 3.6% and on our long-term debt outstanding was 4.1%. Lines of Credit The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including our revolving credit facility, and the amounts available under our accounts receivable securitization programs. (In millions) September 30, 2022 December 31, 2021 Used lines of credit (1) $ 2.4 $ 1.3 Unused lines of credit 1,284.9 1,309.0 Total available lines of credit (2) $ 1,287.3 $ 1,310.3 (1) Includes total borrowings under the accounts receivable securitization programs, the revolving credit facility and borrowings under lines of credit available to several subsidiaries. (2) Of the total available lines of credit, $1,122.1 million was committed as of September 30, 2022. Amended and Restated Senior Secured Credit Facility 2022 Activity On March 25, 2022, the Company and certain of its subsidiaries entered into a fourth amended and restated syndicated facility agreement whereby its existing senior secured credit facility was amended and restated (the “Fourth Amended and Restated Credit Agreement”) with Bank of America, N.A., as agent, and the other financial institutions party thereto. The changes include (i) the refinancing of the term loan A facilities and revolving credit facilities with a new U.S. dollar term loan A facility in an aggregate principal amount of approximately $475.0 million, a new pounds sterling term loan A facility in an aggregate principal amount of approximately £27.2 million, and revolving credit facilities of $1.0 billion (including revolving facilities available in U.S. dollars, euros, pounds sterling, Canadian dollars, Australian dollars, Japanese yen, New Zealand dollars and Mexican pesos), (ii) the conversion of the facilities rate from a London Interbank Offered Rate ("LIBOR")-based rate to a Secured Overnight Financing Rate ("SOFR")-based rate, (iii) improved pricing terms which will range from 100 to 175 basis points (bps) in the case of SOFR loans, subject to the achievement of certain leverage tests, (iv) the extension of the final maturity of the term loan A facilities and revolving credit commitment to March 25, 2027, (v) the release of all non-U.S. collateral previously pledged by the Company's subsidiaries and the release of all existing guarantees for non-U.S., non-borrower Company subsidiaries, (vi) the adjustment of certain covenants to provide flexibility to incur additional indebtedness and take other actions and (vii) other amendments. As a result of the Fourth Amended and Restated Credit Agreement, we recognized a $0.7 million loss on debt redemption and refinancing activities in Other expense, net in our Condensed Consolidated Statements of Operations during the first quarter of 2022. This amount includes $0.4 million of accelerated amortization of original issuance discount related to the term loan A and lender and non-lender fees related to the entire credit facility. Also included in the loss on debt redemption and refinancing activities was $0.3 million of non-lender fees incurred in connection with the Fourth Amended and Restated Credit Agreement. In addition, we incurred $1.2 million of lender and third-party fees that are included in the carrying amounts of the outstanding debt under the credit facility. We also capitalized $3.0 million of fees that are included in Other assets on our Condensed Consolidated Balance Sheets. The amortization expense related to original issuance discount and lender and non-lender fees is calculated using the effective interest rate method over the lives of the respective debt instruments. Total amortization expense related to the senior secured credit facility was $0.3 million and $1.0 million for the three and nine months ended September 30, 2022 and is included in Interest expense, net in our Condensed Consolidated Statements of Operations. Senior Notes 2022 Activity On April 19, 2022, the Company issued $425 million aggregate principal amount of 5.000% senior notes due 2029 (the "2029 Notes"). The 2029 Notes will mature on April 15, 2029. Interest is payable on April 15 and October 15 of each year, commencing on October 15, 2022. The 2029 Notes are guaranteed on a senior unsecured basis by each of the Company’s existing and future wholly owned domestic subsidiaries that guarantee its senior secured credit facilities, subject to release under certain circumstances. We also capitalized $4.2 million of fees incurred in connection with the 2029 Notes, which are included in Long-term debt, less current portion on our Condensed Consolidated Balance Sheets. We may redeem the 2029 Notes, in whole or in part, at any time prior to April 15, 2025, at a redemption price equal to 100% of the principal amount of the 2029 Notes redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date, plus a "make-whole premium". On or after April 15, 2025, we may redeem the 2029 Notes, in whole or in part, at specified redemption prices, plus accrued and unpaid interest, if any, to, but not including the redemption date. In addition, at any time prior to April 15, 2025, we may redeem up to 40% of the 2029 Notes using the proceeds of certain equity offerings. The net proceeds from the 2029 Notes offering were used to repurchase the 5.250% senior notes due 2023 (the “2023 Notes”) tendered pursuant to the tender offer commenced by the Company on April 5, 2022 and satisfy and discharge all remaining 2023 Notes in accordance with the terms of the indenture governing the 2023 Notes. The aggregate repurchase price was $435.9 million, which included the principal amount of $425.0 million, a premium of $9.6 million and accrued interest of $1.3 million. We recognized a pre-tax loss of $10.5 million on the extinguishment, including the premium mentioned above and $0.9 million of accelerated amortization of non-lender fees, included within Other expense, net on our Condensed Consolidated Statements of Operations during the second quarter of 2022. 2021 Activity On September 29, 2021, Sealed Air issued $600 million aggregate principal amount of 1.573% Senior Secured Notes due 2026 (the “2026 Notes”). The 2026 Notes will mature on October 15, 2026. Interest is payable on April 15 and October 15 of each year, commencing April 15, 2022. The 2026 Notes and related guarantees are secured on a first-priority basis by liens on substantially all of the Company's and the Guarantors' personal property securing obligations that the Company owes to lenders under the Company's senior secured credit facilities on a pari passu basis, in each case excluding certain property and subject to certain other exceptions. Prior to the date that is one month prior to the scheduled maturity date of the 2026 Notes (the “Par Call Date”), Sealed Air may redeem the 2026 Notes, in whole or in part, at any time, at a redemption price equal to the greater of (i) 100% of the principal amount of such 2026 Notes or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on such 2026 Notes (assuming for this purpose that interest accrued to the Par Call Date is scheduled to be paid on the Par Call Date) from the redemption date to the Par Call Date discounted to the redemption date on a semiannual basis, plus in either (i) or (ii), any interest accrued but not paid to the date of redemption. At any time on or after the Par Call Date, Sealed Air may redeem the 2026 Notes, in whole or in part, at a redemption price equal to 100% of the principal amount thereof, plus any interest accrued but not paid to, but not including, the date of redemption. We capitalized $5.3 million of non-lender fees incurred in connection with the 2026 Notes which are included in Long-term debt, less current portion on our Condensed Consolidated Balance Sheets. The net proceeds from the offering of the 2026 Notes were used (i) to repurchase the outstanding 4.875% Senior Notes due 2022 (the “2022 Notes”) tendered pursuant to the tender offer commenced by the Company on September 15, 2021, (ii) to satisfy and discharge all of the remaining outstanding 2022 Notes in accordance with the terms of the indenture governing the 2022 Notes, and (iii) to repay a portion of the U.S. dollar tranche of Term Loan A due 2023. A pre-tax loss of $18.6 million was recognized on the repurchase and cancellation of the 2022 Notes, including a premium of $17.0 million and accelerated amortization of non-lender fees of $1.6 million, within Other (expense) income, net on our Consolidated Statements of Operations during the year ended December 31, 2021. The Company repaid an aggregate principal amount of $177.2 million of the U.S. dollar tranche of Term Loan A due 2023, plus accrued interest of $0.2 million. Covenants Each issue of our outstanding senior notes imposes limitations on our operations and those of specified subsidiaries. Our Senior Secured Credit Facility contains customary affirmative and negative covenants for credit facilities of this type, including limitations on our indebtedness, liens, investments, restricted payments, mergers and acquisitions, dispositions of assets, transactions with affiliates, amendment of documents and sale leasebacks, and a covenant specifying a maximum leverage ratio to EBITDA. We were in compliance with the above financial covenants and limitations at September 30, 2022.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities We report all derivative instruments on our Condensed Consolidated Balance Sheets at fair value and establish criteria for designation and effectiveness of transactions entered into for hedging purposes. As a global organization, we face exposure to market risks, such as fluctuations in foreign currency exchange rates and interest rates. To manage the volatility relating to these exposures, we enter into various derivative instruments from time to time under our risk management policies. We designate derivative instruments as hedges on a transaction basis to support hedge accounting. The changes in fair value of these hedging instruments offset in part or in whole corresponding changes in the fair value or cash flows of the underlying exposures being hedged. We assess the initial and ongoing effectiveness of our hedging relationships in accordance with our policy. We do not purchase, hold or sell derivative financial instruments for trading purposes. Our practice is to terminate derivative transactions if the underlying asset or liability matures or is sold or terminated, or if we determine the underlying forecasted transaction is no longer probable of occurring. We record the fair value positions of all derivative financial instruments on a net basis by counterparty for which a master netting arrangement is utilized. Foreign Currency Forward Contracts Designated as Cash Flow Hedges The primary purpose of our cash flow hedging activities is to manage the potential changes in value associated with the amounts receivable or payable on equipment and raw material purchases that are denominated in foreign currencies in order to minimize the impact of the changes in foreign currencies. We record gains and losses on foreign currency forward contracts qualifying as cash flow hedges in Accumulated Other Comprehensive Loss (“AOCL”) to the extent that these hedges are effective and until we recognize the underlying transactions in net earnings, at which time we recognize these gains and losses in Cost of sales, on our Condensed Consolidated Statements of Operations. Cash flows from derivative financial instruments designated as cash flow hedges are classified as cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows. These contracts generally have original maturities of less than 12 months. Net unrealized after-tax gains/losses related to cash flow hedging activities that were included in AOCL were a $3.1 million gain and a $4.9 million gain for the three and nine months ended September 30, 2022, respectively, and a $2.0 million gain and a $5.4 million gain for the three and nine months ended September 30, 2021, respectively. The unrealized amount in AOCL will fluctuate based on changes in the fair value of open contracts during each reporting period. We estimate that $6.5 million of net unrealized gains related to cash flow hedging activities included in AOCL will be reclassified into earnings within the next twelve months. Foreign Currency Forward Contracts Not Designated as Hedges Our subsidiaries have foreign currency exchange exposure from buying and selling in currencies other than their functional currencies. The primary purposes of our foreign currency hedging activities are to manage the potential changes in value associated with the amounts receivable or payable on transactions denominated in foreign currencies and to minimize the impact of the changes in foreign currencies related to foreign currency-denominated interest-bearing intercompany loans and receivables and payables. The changes in fair value of these derivative contracts are recognized in Other expense, net, on our Condensed Consolidated Statements of Operations and are largely offset by the remeasurement of the underlying foreign currency-denominated items indicated above. Cash flows from derivative financial instruments not designated as hedges are classified as Cash flows from investing activities in the Condensed Consolidated Statements of Cash Flows. These contracts generally have original maturities of less than 12 months. Interest Rate Swaps From time to time, we may use interest rate swaps to manage our fixed and floating interest rates on our outstanding indebtedness. At September 30, 2022 and December 31, 2021, we had no outstanding interest rate swaps. Net Investment Hedge The €400.0 million 4.500% notes issued in June 2015 are designated as a net investment hedge, hedging a portion of our net investment in a certain European subsidiary against fluctuations in foreign exchange rates. The decrease in the translated value of the debt was $57.3 million ($43.0 million, net of deferred tax) as of September 30, 2022, which is reflected in AOCL on our Condensed Consolidated Balance Sheets. For derivative instruments that are designated and qualify as hedges of net investments in foreign operations, changes in fair values of the derivative instruments are recognized in unrealized net gain or loss on derivative instruments for net investment hedge, a component of AOCL, net of taxes, to offset the changes in the values of the net investments being hedged. Any portion of the net investment hedge that is determined to be ineffective is recorded in Other expense, net on the Condensed Consolidated Statements of Operations. Other Derivative Instruments We may use other derivative instruments from time to time to manage exposure to foreign exchange rates and to access international financing transactions. These instruments can potentially limit foreign exchange exposure by swapping borrowings denominated in one currency for borrowings denominated in another currency. Fair Value of Derivative Instruments See Note 15, “Fair Value Measurements, Equity Investments and Other Financial Instruments,” for a discussion of the inputs and valuation techniques used to determine the fair value of our outstanding derivative instruments. The following table details the fair value of our derivative instruments included on our Condensed Consolidated Balance Sheets. Cash Flow Hedge Non-Designated as Hedging Instruments Total (In millions) September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Derivative Assets Foreign currency forward contracts and options $ 7.4 $ 2.0 $ 2.8 $ 1.7 $ 10.2 $ 3.7 Total Derivative Assets $ 7.4 $ 2.0 $ 2.8 $ 1.7 $ 10.2 $ 3.7 Derivative Liabilities Foreign currency forward contracts $ — $ (0.6) $ (1.1) $ (1.0) $ (1.1) $ (1.6) Total Derivative Liabilities (1) $ — $ (0.6) $ (1.1) $ (1.0) $ (1.1) $ (1.6) Net Derivatives (2) $ 7.4 $ 1.4 $ 1.7 $ 0.7 $ 9.1 $ 2.1 (1) Excludes €400.0 million of euro-denominated debt ($392.0 million equivalent at September 30, 2022 and $451.9 million equivalent at December 31, 2021), which is designated as a net investment hedge. (2) The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification: Other Current Assets Other Current Liabilities (In millions) September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Gross position $ 10.2 $ 3.7 $ (1.1) $ (1.6) Impact of master netting agreements (0.8) (0.9) 0.8 0.9 Net amounts recognized on the Condensed Consolidated Balance Sheets $ 9.4 $ 2.8 $ (0.3) $ (0.7) The following table details the effect of our derivative instruments on our Condensed Consolidated Statements of Operations. Amount of Gain (Loss) Recognized in Location of Gain (Loss) Recognized on Three Months Ended Nine Months Ended (In millions) Condensed Consolidated Statements of Operations 2022 2021 2022 2021 Derivatives designated as hedging instruments: Cash Flow Hedges: Foreign currency forward contracts Cost of sales $ 3.1 $ 0.9 $ 7.4 $ (3.3) Treasury locks Interest expense, net — — 0.1 0.1 Sub-total cash flow hedges 3.1 0.9 7.5 (3.2) Derivatives not designated as hedging instruments: Foreign currency forward and option contracts Other expense, net 1.7 0.6 3.8 6.2 Total $ 4.8 $ 1.5 $ 11.3 $ 3.0

Fair Value Measurements, Equity

Fair Value Measurements, Equity Investments and Other Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements, Equity Investments and Other Financial Instruments	Fair Value Measurements, Equity Investments and Other Financial Instruments Fair Value Measurements Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three levels to the fair value hierarchy as follows: Level 1 - observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets Level 2 - inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly; and Level 3 - unobservable inputs for which there is little or no market data, which may require the reporting entity to develop its own assumptions. The fair value, measured on a recurring basis, of our financial instruments, using the fair value hierarchy under U.S. GAAP, are included in the table below. September 30, 2022 (In millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 39.4 $ 39.4 $ — $ — Derivative financial and hedging instruments net asset: Foreign currency forward contracts $ 9.1 $ — $ 9.1 $ — December 31, 2021 (In millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 290.0 $ 290.0 $ — $ — Derivative financial and hedging instruments net asset: Foreign currency forward contracts $ 2.1 $ — $ 2.1 $ — Cash equivalents - Our cash equivalents consisted of bank time deposits. Since these are short-term highly liquid investments with remaining maturities of 3 months or less, they present negligible risk of changes in fair value due to changes in interest rates and are classified as Level 1 financial instruments. Derivative financial instruments - Our foreign currency forward contracts, foreign currency options, interest rate swaps and cross-currency swaps are recorded at fair value on our Condensed Consolidated Balance Sheets using a discounted cash flow analysis that incorporates observable market inputs. These market inputs include foreign currency spot and forward rates, and various interest rate curves, and are obtained from pricing data quoted by various banks, third-party sources and foreign currency dealers involving identical or comparable instruments. Such financial instruments are classified as Level 2. Counterparties to these foreign currency forward contracts have at least an investment grade rating. Credit ratings on some of our counterparties may change during the term of our financial instruments. We closely monitor our counterparties’ credit ratings and, if necessary, will make any appropriate changes to our financial instruments. The fair value generally reflects the estimated amounts that we would receive or pay to terminate the contracts at the reporting date. Foreign currency forward contracts and options are included in Prepaid expenses and other current assets and Other current liabilities on the Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021. Equity Investments SEE maintains equity investments in companies which are accounted for under the measurement alternative described in ASC 321-10-35-2 ("ASC 321") for equity investments that do not have readily determinable fair values. We do not exercise significant influence over these companies. The following carrying value of these investments were included within Other non-current assets in our Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021: (In millions) September 30, 2022 December 31, 2021 Carrying value at the beginning of period $ 45.8 $ 25.4 Purchases — 14.7 Impairments or downward adjustments (31.6) — Upward adjustments — 6.6 Currency translation on investments (1.9) (0.9) Carrying value at the end of period $ 12.3 $ 45.8 We hold an equity investment in an investee that was valued at $31.6 million as of December 31, 2021. The investment is accounted for under the measurement alternative in accordance with ASC 321. It is made up of cash investments of $7.5 million and $9.0 million made in 2018 and 2021, respectively, and an upward fair value adjustment of $15.1 million, which was recorded in the fourth quarter of 2020 based on the valuation of additional equity issued by the investee that was deemed to be an observable transaction of a similar investment under ASC 321. During the first quarter of 2022, we recorded a $15.5 million impairment on the equity investment arising from the announced termination of a planned merger between the investee and a special purpose acquisition company due to unfavorable capital market conditions. This impairment loss was recorded within Other expense, net on the Condensed Consolidated Statements of Operations. In connection with our second quarter review of the investee's financial performance, we obtained the investee's latest financial forecast, which showed deterioration across several key operating and liquidity metrics. This was deemed to be a triggering event for potential impairment. Accordingly, we performed a quantitative impairment test as of June 30, 2022 to determine the fair value of the equity investment. Based on discounted cash flow and market participant data as of June 30, 2022, and our projections related to the investee's ability to remain a going concern, we concluded that the fair value of the investment was zero. SEE recorded an impairment loss of $16.1 million equal to the difference between the fair value of the investment as of June 30, 2022 and its carrying value at March 31, 2022. The $16.1 million impairment loss was recorded within Other expense, net on the Condensed Consolidated Statements of Operations during the second quarter of 2022. During the third quarter of 2021, SEE recorded an upward adjustment of $6.6 million based on the valuation of additional equity issued by an investee which was deemed to be an observable transaction of a similar investment under ASC 321. The gain was recorded within Other expense, net on the Condensed Consolidated Statements of Operations. During the fourth quarter of 2020, SEE made an additional investment in one of our investees of $5.7 million, based on the balance sheet foreign exchange rate as of December 31, 2020. The equity issuance by the investee was subject to customary regulatory and statutory approval which was received during the first quarter of 2021. Upon approval, this investment converted to equity and is held as an equity investment valued under the measurement alternative in ASC 321. As of September 30, 2022, cumulative upward adjustments to our equity investments were $21.7 million and cumulative impairments or downward adjustments were $31.6 million, resulting in net cumulative impairments or downward adjustments of $9.9 million. As of December 31, 2021, cumulative upward adjustments to our equity investments were $21.7 million and there were no cumulative impairments or downward adjustments. Other Financial Instruments The following financial instruments are recorded at fair value or at amounts that approximate fair value: (1) trade receivables, net, (2) certain other current assets, (3) accounts payable and (4) other current liabilities. The carrying amounts reported on our Condensed Consolidated Balance Sheets for the above financial instruments closely approximate their fair value due to the short-term nature of these assets and liabilities. Other liabilities that are recorded at carrying value on our Condensed Consolidated Balance Sheets include our credit facilities and senior notes. We utilize a market approach to calculate the fair value of our senior notes. Due to their limited investor base and the face value of some of our senior notes, they may not be actively traded on the date we calculate their fair value. Therefore, we may utilize prices and other relevant information generated by market transactions involving similar securities, reflecting U.S. Treasury yields to calculate the yield to maturity and the price on some of our senior notes. These inputs are provided by an independent third party and are considered to be Level 2 inputs. We derive our fair value estimates of our various other debt instruments by evaluating the nature and terms of each instrument, considering prevailing economic and market conditions, and examining the cost of similar debt offered at the balance sheet date. We also incorporated our credit default swap rates and currency specific swap rates in the valuation of each debt instrument, as applicable. These estimates are subjective and involve uncertainties and matters of significant judgment, and therefore we cannot determine them with precision. Changes in assumptions could significantly affect our estimates. The table below shows the carrying amounts and estimated fair values of our debt, excluding our lease liabilities. September 30, 2022 December 31, 2021 (In millions) Interest rate Carrying Amount Fair Value Carrying Amount Fair Value Term Loan A Facility due August 2022 $ — $ — $ 474.9 $ 474.9 Term Loan A Facility due July 2023 (1) — — 37.1 37.1 Term Loan A due March 2027 (1) 504.1 504.1 — — Senior Notes due April 2023 5.250 % — — 423.8 441.9 Senior Notes due September 2023 (1) 4.500 % 392.0 392.0 451.9 479.1 Senior Notes due December 2024 5.125 % 423.3 411.2 422.8 455.8 Senior Notes due September 2025 5.500 % 398.6 385.3 398.2 443.3 Senior Secured Notes due October 2026 1.573 % 595.7 504.4 595.0 581.3 Senior Notes due December 2027 4.000 % 421.8 367.3 421.4 443.8 Senior Notes due April 2029 5.000 % 421.1 381.2 — — Senior Notes due July 2033 6.875 % 446.4 428.1 446.2 571.9 Other foreign borrowings (1) 2.4 2.4 1.3 1.3 Other domestic borrowings 7.9 7.9 6.7 6.7 Total debt (2) $ 3,613.3 $ 3,383.9 $ 3,679.3 $ 3,937.1 (1) Includes borrowings denominated in currencies other than U.S. dollars. (2) The carrying amount and estimated fair value of debt exclude lease liabilities. Included among our non-financial assets and liabilities that are not required to be measured at fair value on a recurring basis are inventories, property and equipment, goodwill, intangible assets and asset retirement obligations.

Defined Benefit Pension Plans a

Defined Benefit Pension Plans and Other Post-Employment Benefit Plans	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Defined Benefit Pension Plans and Other Post-Employment Benefit Plans	Defined Benefit Pension Plans and Other Post-Employment Benefit Plans The following tables show the components of net periodic benefit (income) cost for our defined benefit pension plans for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Three Months Ended (In millions) U.S. International Total U.S. International Total Components of net periodic benefit (income) cost: Service cost $ 0.1 $ 1.1 $ 1.2 $ — $ 1.3 $ 1.3 Interest cost 1.0 2.9 3.9 0.9 2.2 3.1 Expected return on plan assets (2.2) (5.0) (7.2) (2.3) (4.6) (6.9) Amortization of net prior service cost — 0.1 0.1 — 0.1 0.1 Amortization of net actuarial loss 0.5 1.0 1.5 0.6 1.4 2.0 Net periodic (income) cost (0.6) 0.1 (0.5) (0.8) 0.4 (0.4) Settlement cost — — — — 0.5 0.5 Total benefit (income) cost $ (0.6) $ 0.1 $ (0.5) $ (0.8) $ 0.9 $ 0.1 Nine Months Ended Nine Months Ended (In millions) U.S. International Total U.S. International Total Components of net periodic benefit (income) cost: Service cost $ 0.1 $ 3.4 $ 3.5 $ 0.1 $ 3.9 $ 4.0 Interest cost 3.1 8.9 12.0 2.6 6.6 9.2 Expected return on plan assets (6.7) (15.0) (21.7) (6.7) (13.9) (20.6) Amortization of net prior service cost — 0.2 0.2 — 0.2 0.2 Amortization of net actuarial loss 1.3 2.9 4.2 1.8 4.0 5.8 Net periodic (income) cost (2.2) 0.4 (1.8) (2.2) 0.8 (1.4) Settlement (credit) cost — (0.1) (0.1) — 0.7 0.7 Total benefit (income) cost $ (2.2) $ 0.3 $ (1.9) $ (2.2) $ 1.5 $ (0.7) The following table shows the components of net periodic benefit cost for our other post-retirement employee benefit plans for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Components of net periodic benefit cost: Interest cost $ 0.2 $ 0.1 $ 0.6 $ 0.4 Amortization of net prior service credit — — (0.2) (0.2) Amortization of net actuarial gain (0.1) — (0.1) (0.1) Net periodic benefit cost $ 0.1 $ 0.1 $ 0.3 $ 0.1

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes U.S. Legislation The American Rescue Plan Act of 2021 (“Rescue Act”) was signed into law on March 11, 2021 and includes additional COVID-19 related tax relief for certain individuals and businesses. The enactment of the Rescue Act did not result in any material adjustments to our income tax provision for the three and nine months ended September 30, 2022 or September 30, 2021. The Inflation Reduction Act ("IRA") was signed into law on August 16, 2022. The IRA includes climate and energy provisions and introduces a 15% corporate alternative minimum tax, among other items. The enactment of the IRA did not result in any adjustments to our income tax provision for the three and nine months ended September 30, 2022. We continue to evaluate the impact of this law on our operations and currently don't believe the legislation will have a material impact on our consolidated financial statements. Effective Income Tax Rate and Income Tax Provision For interim tax reporting, we estimate one annual effective tax rate for tax jurisdictions not subject to a valuation allowance and apply that rate to the year-to-date ordinary income/(loss). Tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. State income taxes, foreign earnings subject to higher tax rates and non-deductible expenses increase the Company's effective income tax rate compared to the U.S. statutory rate of 21.0%. Research and development credits decrease the Company's effective tax rate compared to the U.S. statutory rate of 21.0%. Our effective income tax rate was 27.9% for both the three and nine months ended September 30, 2022. In addition to the above referenced items, the three-month period was unfavorably impacted by accruals for unresolved controversy and enacted state law changes. The nine-month period was favorably impacted by share price accretion in equity compensation, and unfavorably impacted by accruals for unresolved controversy, nonrecurring intercompany dividend distributions and enacted state law changes. Our effective income tax rate was 30.2% and 31.3% for the three and nine months ended September 30, 2021, respectively. In addition to the above referenced items, the Company's effective income tax rate for the three months ended September 30, 2021 was unfavorably impacted by adjustments to specific U.S. uncertain tax positions. The Company's effective income tax rate for the nine months ended September 30, 2021 was unfavorably impacted by legislative and administrative changes to foreign enacted statutes and accruals for unresolved controversy. There was no significant change in our valuation allowances for the three and nine months ended September 30, 2022 and 2021. Net increases in unrecognized tax positions of $3.8 million and $12.7 million for the three and nine months ended September 30, 2022, respectively, and $6.5 million and $14.4 million for the three and nine months ended September 30, 2021, respectively, were primarily related to interest accruals on existing uncertain tax positions. We are not currently able to reasonably estimate the amount by which the liability for unrecognized tax positions may increase or decrease as a result of future tax controversy developments or resolution. Interest and penalties on tax assessments are included in Income tax provision on our Condensed Consolidated Statements of Operations. The IRS completed its field examination of the U.S. federal income tax returns for the 2011-2014 tax years in the third quarter of 2020. As previously disclosed, the IRS has proposed to disallow, for the 2014 taxable year, the entirety of the deduction of the approximately $1.49 billion settlement payment made pursuant to the Settlement agreement (as defined in Note 18, “Commitments and Contingencies”) and the resulting reduction of our U.S. federal tax liability by approximately $525 million. We continue to believe that we have meritorious defenses to the proposed disallowance and have filed a protest with the IRS. The proposed disallowance is being reviewed by the IRS Independent Office of Appeals and we cannot predict the outcome of such review or when it will be concluded. It is possible that future developments in this matter could have a material impact on the Company's uncertain tax position balances and results of operations, including cash flows, within the next twelve months. There is no outstanding liability with respect to the one-time mandatory tax on previously deferred foreign earnings of foreign subsidiaries provision associated with the Tax Cuts and Jobs Act of 2017.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Settlement Agreement Tax Deduction On March 31, 1998, the Company completed a multi-step transaction (the “Cryovac transaction”) involving W.R. Grace & Co. (“Grace”) which brought the Cryovac packaging business and the former Sealed Air’s business under the common ownership of the Company. As part of that transaction, Grace and its subsidiaries retained all liabilities arising out of their operations before the Cryovac transaction (including asbestos-related liabilities), other than liabilities relating to Cryovac’s operations, and agreed to indemnify the Company with respect to such retained liabilities. Beginning in 2000, we were served with a number of lawsuits alleging that the Cryovac transaction was a fraudulent transfer or gave rise to successor liability or both, and that, as a result, we were responsible for alleged asbestos liabilities of Grace and its subsidiaries. On April 2, 2001, Grace and a number of its subsidiaries filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). In connection with Grace’s Chapter 11 case, the Bankruptcy Court granted the official committees appointed to represent asbestos claimants in Grace’s Chapter 11 case (the “Committees”) permission to pursue against the Company and its subsidiary Cryovac, Inc. fraudulent transfer, successor liability, and other claims based upon the Cryovac transaction. In November 2002, we reached an agreement in principle with the Committees to resolve all current and future asbestos-related claims made against us and our affiliates, as well as indemnification claims by Fresenius Medical Care Holdings, Inc. and affiliated companies, in each case, in connection with the Cryovac transaction. A definitive settlement agreement was entered into in 2003 and approved by the Bankruptcy Court in 2005 (such agreement, the "Settlement agreement"). The Settlement agreement was subsequently incorporated into the plan of reorganization for Grace (the "Plan") and the Plan was confirmed by the Bankruptcy Court in 2011 and the U.S. District Court in 2012. On February 3, 2014 (the “Effective Date”), the Plan implementing the Settlement agreement became effective with Grace emerging from bankruptcy and the injunctions and releases provided by the Plan becoming effective. On the Effective Date, the Company’s subsidiary, Cryovac, Inc., made the payments contemplated by the Settlement agreement, consisting of aggregate cash payments in the amount of $929.7 million to the WRG Asbestos PI Trust (the “PI Trust”) and the WRG Asbestos PD Trust (the “PD Trust”) and the transfer of 18 million shares of Sealed Air common stock (the “Settlement Shares”) to the PI Trust, in each case, reflecting adjustments made in accordance with the Settlement agreement. The IRS completed its field examination of our U.S. federal income tax returns for the years 2011 through 2014 in the third quarter of 2020. As previously disclosed, the IRS has proposed to disallow for the 2014 taxable year the entirety of the deduction of the approximately $1.49 billion settlement payments made pursuant to the Settlement agreement and the resulting reduction of our U.S. federal tax liability by approximately $525 million. We continue to believe that we have meritorious defenses to the proposed disallowance and have filed a protest with the IRS. The proposed disallowance is being reviewed by the IRS Independent Office of Appeals and we cannot predict the outcome of such review or when it will be concluded. It is possible that future developments in this matter could have a material impact on the Company's uncertain tax position balances and results of operations, including cash flows, within the next twelve months. Environmental Matters We are subject to loss contingencies resulting from environmental laws and regulations, and we accrue for anticipated costs associated with investigatory and remediation efforts when an assessment has indicated that a loss is probable and can be reasonably estimated. These accruals are not reduced by potential insurance recoveries, if any. We do not believe that it is reasonably possible that our liability in excess of the amounts that we have accrued for environmental matters will be material to our Condensed Consolidated Balance Sheets or Statements of Operations. Environmental liabilities are reassessed whenever circumstances become better defined or remediation efforts and their costs can be better estimated. We evaluate these liabilities periodically based on available information, including the progress of remedial investigations at each site, the current status of discussions with regulatory authorities regarding the methods and extent of remediation and the apportionment of costs among potentially responsible parties. As some of these issues are decided (the outcomes of which are subject to uncertainties) or new sites are assessed and costs can be reasonably estimated, we adjust the recorded accruals, as necessary. We believe that these exposures are not material to our Condensed Consolidated Balance Sheets or Statements of Operations. We believe that we have adequately reserved for all probable and estimable environmental exposures. Securities Class Action On November 1, 2019, purported Company stockholder UA Local 13 & Employers Group Insurance Fund filed a putative class action complaint in the United States District Court for the Southern District of New York against the Company and certain of its current and former officers. On June 4, 2020, the complaint was amended to remove all individual defendants other than the Company’s former CFO and to add a plaintiff, and on July 13, 2020, the complaint was further amended to identify a total of four plaintiffs. The complaint alleges violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 thereunder based on allegedly false and misleading statements and omissions concerning the Company’s hiring of Ernst & Young LLP as its independent auditors and concerning the Company's corporate policies and procedures. The plaintiffs seek to represent a class of purchasers of the Company’s common stock between November 17, 2014 and June 20, 2019. The complaint seeks, among other things, unspecified compensatory damages, including interest, and attorneys’ fees and costs. On September 4, 2020, the Company filed a motion to dismiss the complaint, and on June 1, 2021, the court issued a ruling that granted in part and denied in part the motion to dismiss. The Company filed its answer to the complaint on July 15, 2021. On September 9, 2022, the parties signed a settlement agreement including a proposed settlement amount of $12.5 million and submitted it to the court for preliminary approval. The settlement is subject to a number of conditions, including certification of a settlement class, notice and preliminary and final court approvals. The settlement will be funded by the Company’s insurance carriers. As of September 30, 2022, the Company recorded a liability of $12.5 million reflected in Other current liabilities and a corresponding $12.5 million insurance receivable reflected in Other receivables on the Condensed Consolidated Balance Sheets. Guarantees and Indemnification Obligations We are a party to many contracts containing guarantees and indemnification obligations. These contracts primarily consist of: • indemnities in connection with the sale of businesses, primarily related to the sale of Diversey in 2017. Our indemnity obligations under the relevant agreements may be limited in terms of time, amount or scope. As it relates to certain income tax related liabilities, the relevant agreements may not provide any cap for such liabilities, and the period in which we would be liable would lapse upon expiration of the statute of limitation for assessment of the underlying taxes. Because of the conditional nature of these obligations and the unique facts and circumstances involved in each particular agreement, we are unable to reasonably estimate the potential maximum exposure associated with these items; • product warranties with respect to certain products sold to customers in the ordinary course of business. These warranties typically provide that products will conform to specifications. We generally do not establish a liability for product warranty based on a percentage of sales or other formula. We accrue a warranty liability on a transaction-specific basis depending on the individual facts and circumstances related to each sale. Both the liability and annual expense related to product warranties are immaterial to our consolidated financial position and results of operations; and • licenses of intellectual property by us to third parties in which we have agreed to indemnify the licensee against third-party infringement claims. As of September 30, 2022, the Company has no reason to believe a loss exceeding amounts already recognized would be incurred. Other Matters We are also involved in various other legal actions incidental to our business. We believe, after consulting with counsel, that the disposition of these other legal proceedings and matters will not have a material effect on our consolidated financial condition or results of operations including potential impact to cash flows.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Repurchase of Common Stock On August 2, 2021, the Board of Directors approved a new share repurchase program of $1.0 billion. This current program has no expiration date and replaced all previous authorizations. As of September 30, 2022, there was $616.4 million remaining under the current authorized program. Share repurchases made prior to August 2, 2021 were under previous Board of Directors share repurchase authorizations, specifically the $1.5 billion authorization made in July 2015, the $1.5 billion authorization made in March 2017 and the $1.0 billion authorization made in May 2018. During the three and nine months ended September 30, 2022, we repurchased 614,190 and 4,527,887 shares, for approximately $30.0 million and $280.1 million, with an average share price of $48.81 and $61.86, respectively. During the three and nine months ended September 30, 2021, we repurchased 527,058 and 6,585,112 shares, for approximately $29.9 million and $327.7 million, with an average share price of $56.75 and $49.77, respectively. Cash outlay for share repurchases during the nine months ended September 30, 2021 also includes $1.6 million for 35,100 shares purchased in the fourth quarter 2020 and settled in the first quarter 2021. These repurchases were made under open market transactions, including through plans complying with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and pursuant to the share repurchase program previously authorized by our Board of Directors. Dividends On February 25, 2022, our Board of Directors declared a quarterly cash dividend of $0.20 per common share, or $29.4 million, which was paid on March 25, 2022, to stockholders of record at the close of business on March 11, 2022. On May 26, 2022, our Board of Directors declared a quarterly cash dividend of $0.20 per common share, or $29.2 million, which was paid on June 24, 2022, to stockholders of record at the close of business on June 10, 2022. On August 16, 2022, our Board of Directors declared a quarterly cash dividend of $0.20 per common share, or $29.0 million, which was paid on September 23, 2022, to stockholders of record at the close of business on September 9, 2022. On October 18, 2022, our Board of Directors declared a quarterly cash dividend of $0.20 per common share, which will be paid on December 16, 2022, to stockholders of record at the close of business on December 2, 2022. The dividends paid during the nine months ended September 30, 2022 were recorded as a reduction to cash and cash equivalents and retained earnings on our Condensed Consolidated Balance Sheets. Our credit facility and our senior notes contain covenants that restrict our ability to declare or pay dividends. However, we do not believe these covenants are likely to materially limit the future payment of quarterly cash dividends on our common stock. From time to time, we may consider other means of returning value to our stockholders based on our Condensed Consolidated Statements of Operations. There is no guarantee that our Board of Directors will declare any future dividends. Share-based Compensation In 2014, the Board of Directors adopted, and our stockholders approved, the 2014 Omnibus Incentive Plan (“Omnibus Incentive Plan”). Under the Omnibus Incentive Plan, the maximum number of shares of Common Stock authorized was 4,250,000, plus total shares available to be issued as of May 22, 2014 under the 2002 Directors Stock Plan and the 2005 Contingent Stock Plan (collectively, the “Predecessor Plans”). The Omnibus Incentive Plan replaced the Predecessor Plans and no further awards were granted under the Predecessor Plans. The Omnibus Incentive Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock, performance share units known as PSU awards, other stock awards and cash awards to officers, non-employee directors, key employees, consultants and advisors. In 2018, the Board of Directors adopted, and our shareholders approved, an amendment and restatement to the Omnibus Incentive Plan. The amendment added 2,199,114 shares of common stock to the share pool previously available under the Omnibus Incentive Plan. Additionally, in 2021, the Board of Directors adopted, and our shareholders approved, an additional amendment and restatement to the Omnibus Incentive Plan. The amended plan added 2,999,054 shares of common stock to the share pool previously available under the Omnibus Incentive Plan. We record share-based incentive compensation expense in selling, general and administrative expenses and cost of sales on our Condensed Consolidated Statements of Operations for both equity-classified and liability-classified awards. We record a corresponding credit to additional paid-in capital within stockholders’ equity for equity-classified awards, and to either other current liabilities or other non-current liabilities for liability-classified awards based on the fair value of the share-based incentive compensation awards at the date of grant. Total expense for the liability-classified awards continues to be remeasured to fair value at the end of each reporting period. We recognize an expense or credit reflecting the straight-line recognition, net of estimated forfeitures, of the expected cost of the program. The number of PSUs earned may equal, exceed or be less than the targeted number of shares depending on whether the performance criteria are met, surpassed or not met. The table below shows our total share-based incentive compensation expense: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Total share-based incentive compensation expense (1) $ 12.7 $ 10.6 $ 41.3 $ 34.4 (1) The amounts presented above do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock, however, the amounts include the expense related to share-based awards that are settled in cash. Performance Share Units (“PSU”) Awards During the first 90 days of each year, the Organization and Compensation (“O&C”) Committee of our Board of Directors approves PSU awards for our executive officers and other selected employees, which include for each participant a target number of shares of common stock and the performance goals and measures that will determine the percentage of the target award that is earned following the end of the three three 2022 Three During the first quarter 2022, the O&C Committee approved awards with a three The target number of PSUs granted and the grant date fair value of the PSUs are shown in the following table: Adjusted EBITDA CAGR ROIC February 24, 2022 grant date Number of units granted 72,308 72,308 Fair value on grant date (per unit) $ 70.92 $ 70.92 March 1, 2022 grant date Number of units granted 16,766 16,766 Fair value on grant date (per unit) $ 69.71 $ 69.71 The assumptions used to calculate the grant date fair value of the PSUs are shown in the following table: February 24, 2022 March 1, 2022 Expected price volatility 37.4 % 37.7 % Risk-free interest rate 1.7 % 1.5 % 2019 Three In February 2022, the O&C Committee reviewed the performance results for the 2019-2021 PSUs. Performance goals for these PSUs were based on Adjusted EBITDA margin, ROIC and the Company's TSR ranking relative to a group of peer companies. Based on overall performance for 2019-2021 PSUs, these awards paid out at 132.5% of target or 274,296 units. Of this, 110,529 units were withheld to cover employee tax withholding and 2,478 units were designated as cash-settled awards, resulting in net share issuances of 161,289. Chief Operating Officer (COO) and Chief Executive Officer-Designate 2017 New Hire Equity Awards (Amended) On September 18, 2017, Edward L. Doheny II started with the Company as Chief Operating Officer and Chief Executive Officer-Designate. Under the terms of his agreement, Mr. Doheny was granted two new-hire equity awards, one of which was a performance-vesting award for 70,000 shares. On December 10, 2020, the Company entered a subsequent agreement with Mr. Doheny, which, among other things, amended the terms of the performance-vesting new hire award. Half of the award, or 35,000 shares, was converted to an award of time-vesting restricted stock units, which required Mr. Doheny to remain in service with the Company through September 18, 2022. The remaining half of the award, or 35,000 shares, remained performance-vesting, subject to the original performance conditions, but measured as of September 18, 2022 which required that either (i) the Company’s cumulative total stockholder return for January 1, 2018 through September 18, 2022 be in the top 33% of its peers (using the same peers and methodology under the Company’s performance stock unit (PSU) awards) and the Company’s stock price as of September 18, 2022 equaled at least $60.00 per share, or (ii) the Company’s stock price as of September 18, 2022 equaled at least $75.00 per share. The Letter Agreement provided that the stock price as of September 18, 2022 for this purpose would be determined using a 30-day arithmetic mean of closing prices up to, and including, September 18, 2022. In October 2022, the O&C Committee reviewed the performance results of such performance-vesting new hire award as amended and determined that the performance requirements were not met. As a result, the award paid out at 0% and was forfeited.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table provides details of comprehensive income (loss) for the nine months ended September 30, 2022 and 2021: (In millions) Unrecognized Cumulative Translation Adjustment (1) Unrecognized Unrecognized Accumulated Other Balance at December 31, 2021 $ (137.5) $ (760.5) $ (38.3) $ 2.4 $ (933.9) Other comprehensive (loss) income before reclassifications — (149.0) 45.4 10.8 (92.8) Less: amounts reclassified from accumulated other comprehensive loss 3.0 — — (5.8) (2.8) Net current period other comprehensive income (loss) 3.0 (149.0) 45.4 5.0 (95.6) Balance at September 30, 2022 $ (134.5) $ (909.5) $ 7.1 $ 7.4 $ (1,029.5) Balance at December 31, 2020 $ (172.5) $ (721.7) $ (67.5) $ (1.8) $ (963.5) Other comprehensive (loss) income before reclassifications (1.6) (33.4) 21.0 2.9 (11.1) Less: amounts reclassified from accumulated other comprehensive loss 4.8 — — 2.2 7.0 Net current period other comprehensive income (loss) 3.2 (33.4) 21.0 5.1 (4.1) Balance at September 30, 2021 $ (169.3) $ (755.1) $ (46.5) $ 3.3 $ (967.6) (1) Includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $55.4 million and $19.4 million for the nine months ended September 30, 2022 and 2021, respectively. The following table provides detail of amounts reclassified from AOCL: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Location of Amount Defined benefit pension plans and other post-employment benefits: Net settlement (cost) credit $ — $ (0.5) $ 0.1 $ (0.7) Prior service cost (0.1) (0.1) — — Actuarial losses (1.4) (2.0) (4.1) (5.7) Total pre-tax amount (1.5) (2.6) (4.0) (6.4) Other expense, net Tax benefit 0.4 0.6 1.0 1.6 Net of tax (1.1) (2.0) (3.0) (4.8) Net gains (losses) on cash flow hedging derivatives: (1) Foreign currency forward contracts 3.1 0.9 7.4 (3.3) Cost of sales Treasury locks — — 0.1 0.1 Interest expense, net Total pre-tax amount 3.1 0.9 7.5 (3.2) Tax (expense) benefit (0.8) (0.3) (1.7) 1.0 Net of tax 2.3 0.6 5.8 (2.2) Total reclassifications for the period $ 1.2 $ (1.4) $ 2.8 $ (7.0) (1) These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 14, “Derivatives and Hedging Activities,” for additional details.

Other Expense, net

Other Expense, net	9 Months Ended
	Sep. 30, 2022
Other Income and Expenses [Abstract]
Other Expense, net	Other Expense, net The following table provides details of other expense, net: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Net foreign exchange transaction loss $ (0.2) $ (0.5) $ (0.9) $ (0.5) Bank fee expense (1.4) (1.0) (4.0) (3.4) Pension income other than service costs 0.7 0.7 3.3 3.3 Fair value gain/impairment (loss) on equity investments (1) — 6.6 (31.6) 6.6 Foreign currency exchange loss due to highly inflationary economies (2.2) (0.9) (5.9) (2.9) Loss on debt redemption and refinancing activities — (14.7) (11.2) (14.7) Other income (2) 1.6 6.7 8.0 11.7 Other expense (1.6) (1.4) (5.1) (4.0) Other expense, net $ (3.1) $ (4.5) $ (47.4) $ (3.9) (1) See Note 15, "Fair Value Measurements, Equity Investments and Other Financial Instruments," for further details. (2) During the three months ended September 30, 2021, we recorded other income of $5.0 million related to a claim for the overpayment of certain indirect taxes paid by Sealed Air subsidiaries in Brazil, resulting from a double taxation calculation. In 2021, the Supreme Court of Brazil issued a final decision that clarified the methodology companies should use in the calculation. This decision was published and certified by the courts during the third quarter of 2021.

Net Earnings Per Common Share

Net Earnings Per Common Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Earnings Per Common Share	Net Earnings Per Common Share The following table shows the calculation of basic and diluted net earnings per common share: Three Months Ended Nine Months Ended (In millions, except per share amounts) 2022 2021 2022 2021 Basic Net Earnings Per Common Share: Numerator: Net earnings $ 134.2 $ 107.7 $ 397.3 $ 325.9 Distributed and allocated undistributed net earnings to unvested restricted stockholders — — — — Net earnings available to common stockholders $ 134.2 $ 107.7 $ 397.3 $ 325.9 Denominator: Weighted average number of common shares outstanding - basic 145.2 149.9 146.3 151.8 Basic net earnings per common share: Basic net earnings per common share $ 0.92 $ 0.72 $ 2.72 $ 2.15 Diluted Net Earnings Per Common Share: Numerator: Net earnings available to common stockholders $ 134.2 $ 107.7 $ 397.3 $ 325.9 Denominator: Weighted average number of common shares outstanding - basic 145.2 149.9 146.3 151.8 Effect of dilutive stock shares and units 1.4 1.5 1.5 1.4 Weighted average number of common shares outstanding - diluted under treasury stock 146.6 151.4 147.8 153.2 Diluted net earnings per common share $ 0.92 $ 0.71 $ 2.69 $ 2.13

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events LB Holdco, Inc. (Liquibox) Acquisition On November 1, 2022, the Company announced it has signed a definitive agreement to acquire LB Holdco, Inc. (Liquibox), a pioneer, innovator and manufacturer of Bag-in-Box sustainable Fluids & Liquids packaging and dispensing solutions for fresh food, beverage, consumer goods and industrial end-markets, for $1.15 billion in cash, subject to customary adjustments. Subject to the receipt of applicable regulatory approvals and customary closing conditions, the transaction is currently expected to close in the first quarter of 2023.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Our Condensed Consolidated Financial Statements include all of the accounts of the Company and our subsidiaries. We have eliminated all significant intercompany transactions and balances in consolidation. In management’s opinion, all adjustments, consisting only of normal recurring accruals, necessary for a fair statement of our Condensed Consolidated Balance Sheet as of September 30, 2022 and our Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2022 and 2021 have been made. The results set forth in our Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2022 and in our Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year. The Condensed Consolidated Balance Sheet as of December 31, 2021 was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. All amounts are in millions, except per share amounts, and approximate due to rounding. All amounts are presented in U.S. dollar, unless otherwise specified. Our Condensed Consolidated Financial Statements were prepared in accordance with the interim reporting requirements of the SEC. As permitted under those rules, annual footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted. The preparation of Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ from these estimates. We are responsible for the unaudited Condensed Consolidated Financial Statements and notes included in this report. As these are condensed financial statements, they should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (“2021 Form 10-K”), which was filed with the SEC on February 22, 2022, and with the information contained in our other publicly available filings with the SEC. When we cross reference to a “Note,” we are referring to our “Notes to Condensed Consolidated Financial Statements,” unless the context indicates otherwise. There were no significant changes to our significant accounting policies as disclosed in “Note 2 – Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of our audited consolidated financial statements and notes thereto included in our 2021 Form 10-K.
Impact of Highly Inflationary Economy	Impact of Highly Inflationary Economy Argentina
Recently Adopted and Issued Accounting Standards	Recently Adopted Accounting Standards In July 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-05, Leases (Topic 842): Lessors - Certain Leases with Variable Lease Payments (“ASU 2021-05”). ASU 2021-05 requires a lessor to classify a lease with variable lease payments that do not depend on an index or rate as an operating lease at commencement if the lease would have been classified as a sales-type or direct financing lease and the lessor would have recognized a selling loss at lease commencement. The Company adopted ASU 2021-05 on January 1, 2022. The adoption did not have a material impact on the Company's Condensed Consolidated Financial Statements. Recently Issued Accounting Standards In September 2022, the FASB issued ASU 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations ("ASU 2022-04"). ASU 2022-04 requires the buyer in a supplier finance program to disclose qualitative and quantitative information about the program. ASU 2022-04 is effective for annual periods beginning after December 15, 2022, including interim periods within those fiscal years, except for the disclosure of rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. We do not believe that the adoption of ASU 2022-04 will have an impact on the Company's Condensed Consolidated Financial Statements with the exception of revised annual disclosures. In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance ("ASU 2021-10"). ASU 2021-10 requires business entities to disclose information about certain types of government assistance received in the notes to the financial statements. ASU 2021-10 is effective for annual periods beginning after December 15, 2021. We do not believe that the adoption of ASU 2021-10 will have an impact on the Company's Condensed Consolidated Financial Statements with the exception of new disclosures, if government assistance provided to the Company were to be material in the future. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ("ASU 2021-08"). The new guidance requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Topic 606, Revenue from Contracts with Customers. The standard will not impact acquired contract assets or liabilities from business combinations occurring prior to the adoption date. ASU 2021-08 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The impact of adoption on the Company's Condensed Consolidated Financial Statements will be prospective only and will depend on the magnitude of any future business acquisitions.
Revenue Recognition, Contracts with Customers	Description of Revenue Generating Activities We employ sales, marketing and customer service personnel throughout the world who sell and market our equipment and systems, products, and services to and/or through a large number of distributors, fabricators, converters, eCommerce and mail order fulfillment firms, and contract packaging firms as well as directly to end-users such as food processors, food service businesses, supermarket retailers, pharmaceutical companies, healthcare facilities, medical device manufacturers, and other manufacturers. As discussed in Note 6, “Segments,” our reporting segments are Food and Protective. Our Food applications are largely sold directly to end customers, while our Protective products are sold through business supply distributors and directly to end customers. Food: Food solutions are sold to food processors in fresh red meat, smoked and processed meats, poultry, seafood, plant-based and dairy (solid and liquids) markets worldwide. Food offers integrated packaging materials and automated equipment solutions to increase food safety, extend shelf life, reduce food waste, automate processes and optimize total cost. Its materials, automated equipment and service enables customers to reduce costs and enhance their brands in the marketplace. Food solutions are utilized by food service businesses (such as restaurants and entertainment venues) (“food service”) and food retailers (such as grocery stores and supermarkets) (“food retail”), among others. Solutions serving the food service market include products such as barrier bags and pouches, and are primarily marketed under the CRYOVAC ® trademark and other highly recognized trade names including CRYOVAC ® brand Barrier Bags, CRYOVAC ® brand Form-Fill-Seal Films, and CRYOVAC ® brand Auto Pouch System. Solutions serving the food retail market include products such as barrier bags, film, and trays, and are primarily marketed under the CRYOVAC ® trademark and other highly recognized trade names including CRYOVAC ® brand Grip & Tear TM , CRYOVAC ® brand Darfresh ® , OptiDure™, Simple Steps ® , and CRYOVAC ® brand Barrier Bags. Protective: Protective packaging solutions are utilized across many global markets to protect goods during transit and are especially valuable to eCommerce, consumer goods, pharmaceutical and medical devices and industrial manufacturing. Protective solutions are designed to increase our customers' packaging velocity, minimize packaging waste, reduce labor dependencies and address dimensional weight challenges. Protective solutions are sold through a strategic network of distributors as well as directly to our customers, including, but not limited to, fabricators, original equipment manufacturers, contract manufacturers, logistics partners and eCommerce/fulfillment operations. Protective solutions are marketed under SEALED AIR ® brand, BUBBLE WRAP ® brand, AUTOBAG ® brand and other highly recognized trade names and product families including BUBBLE WRAP ® brand inflatable packaging, SEALED AIR ® brand performance shrink films, AUTOBAG ® brand bagging systems, Instapak ® polyurethane foam packaging solutions and Korrvu ® suspension and retention packaging. In addition, we provide temperature assurance packaging solutions under the Kevothermal TM and TempGuard TM brands. Other Revenue Recognition Considerations: Charges for rebates and other allowances are recognized as a deduction from revenue on an accrual basis in the period in which the associated revenue is recorded. Revenue recognized from performance obligations satisfied in previous reporting periods was a reduction of $2.0 million and $1.8 million for the three and nine months ended September 30, 2022, respectively, and an increase of $0.9 million and $1.7 million for the three and nine months ended September 30, 2021, respectively. The Company does not adjust consideration in contracts with customers for the effects of a significant financing component if the Company expects that the period between transfer of a good or service and payment for that good or service will be one year or less. This is expected to be the case for the majority of the Company's contracts.

Revenue Recognition, Contract_2

Revenue Recognition, Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts With Customers Summarized by Segment	For the three and nine months ended September 30, 2022 and 2021, revenues from contracts with customers summarized by Segment and Geography were as follows: Three Months Ended Nine Months Ended (In millions) Food Protective Total Food Protective Total Americas $ 547.9 $ 376.6 $ 924.5 $ 1,603.5 $ 1,187.5 $ 2,791.0 EMEA 165.0 109.9 274.9 499.9 353.6 853.5 APAC 110.9 82.3 193.2 321.8 246.3 568.1 Topic 606 Segment Revenue 823.8 568.8 1,392.6 2,425.2 1,787.4 4,212.6 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 6.0 1.8 7.8 18.1 5.3 23.4 Total $ 829.8 $ 570.6 $ 1,400.4 $ 2,443.3 $ 1,792.7 $ 4,236.0 Three Months Ended Nine Months Ended (In millions) Food Protective Total Food Protective Total Americas $ 506.3 $ 393.0 $ 899.3 $ 1,399.5 $ 1,114.4 $ 2,513.9 EMEA 170.6 123.7 294.3 490.6 385.7 876.3 APAC 111.5 91.1 202.6 322.9 261.4 584.3 Topic 606 Segment Revenue 788.4 607.8 1,396.2 2,213.0 1,761.5 3,974.5 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 9.0 1.5 10.5 23.3 4.5 27.8 Total $ 797.4 $ 609.3 $ 1,406.7 $ 2,236.3 $ 1,766.0 $ 4,002.3
Opening and Closing Balances of Contract Assets and Contract Liabilities	The following contract assets and liabilities are included within Prepaid expenses and other current assets and Other current liabilities, or Other non-current liabilities on our Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021: (In millions) September 30, 2022 December 31, 2021 Contract assets $ 0.3 $ 1.2 Contract liabilities $ 20.8 $ 20.2
Summary of Estimated Transaction Price from Contracts With Customers Allocated to Performance Obligations Remaining Performance Obligation, Expected Timing of Satisfaction	The following table summarizes the estimated transaction price from contracts with customers allocated to performance obligations or portions of performance obligations that have not yet been satisfied as of September 30, 2022 and December 31, 2021, as well as the expected timing of recognition of that transaction price. (In millions) September 30, 2022 December 31, 2021 Short-Term (12 months or less) (1) $ 16.7 $ 15.9 Long-Term 4.1 4.3 Total transaction price $ 20.8 $ 20.2

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Summary of Lease Payments Captured in Lease Receivable	All lease payments are primarily fixed in nature and therefore captured in the lease receivable. Our sales-type lease receivable balances at September 30, 2022 and December 31, 2021 were as follows: (In millions) September 30, 2022 December 31, 2021 Short-Term (12 months or less) $ 6.0 $ 5.7 Long-Term 16.8 18.8 Lease receivables $ 22.8 $ 24.5
Assets and Liabilities, Lessee	The following table details our lease obligations included in our Condensed Consolidated Balance Sheets. (In millions) September 30, 2022 December 31, 2021 Other non-current assets: Finance leases - ROU assets $ 57.0 $ 58.0 Finance leases - Accumulated depreciation (30.4) (27.3) Operating lease right-of-use-assets: Operating leases - ROU assets 150.1 133.5 Operating leases - Accumulated depreciation (80.0) (69.7) Total lease assets $ 96.7 $ 94.5 Current portion of long-term debt: Finance leases $ (8.4) (10.2) Current portion of operating lease liabilities: Operating leases (22.4) (21.2) Long-term debt, less current portion: Finance leases (17.5) (19.2) Long-term operating lease liabilities, less current portion: Operating leases (51.9) (44.5) Total lease liabilities $ (100.2) $ (95.1)
Operating Lease, Future Minimum Annual Rental Commitments	At September 30, 2022, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows: (In millions) Finance leases Operating leases Remainder of 2022 $ 3.0 $ 6.9 2023 8.4 24.1 2024 4.2 17.8 2025 2.7 13.2 2026 2.1 10.0 Thereafter 10.1 11.0 Total lease payments 30.5 83.0 Less: Interest (4.6) (8.7) Present value of lease liabilities $ 25.9 $ 74.3
Finance Lease, Future Minimum Annual Rental Commitments	At September 30, 2022, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows: (In millions) Finance leases Operating leases Remainder of 2022 $ 3.0 $ 6.9 2023 8.4 24.1 2024 4.2 17.8 2025 2.7 13.2 2026 2.1 10.0 Thereafter 10.1 11.0 Total lease payments 30.5 83.0 Less: Interest (4.6) (8.7) Present value of lease liabilities $ 25.9 $ 74.3
Schedule of Lease Costs and Other Information	The following lease cost is included in our Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Lease cost (1) Finance leases Amortization of ROU assets $ 2.6 $ 2.7 $ 7.9 $ 7.9 Interest on lease liabilities 0.3 0.3 1.0 1.1 Operating leases 7.3 7.7 23.6 23.0 Short-term lease cost 0.9 1.3 2.2 3.8 Variable lease cost 1.9 1.8 5.3 4.5 Total lease cost $ 13.0 $ 13.8 $ 40.0 $ 40.3 (1) With the exception of Interest on lease liabilities, we record lease costs to Cost of sales or Selling, general and administrative expenses on the Condensed Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities is recorded to Interest expense, net on the Condensed Consolidated Statements of Operations. The following table details cash paid related to operating and finance leases included in our Condensed Consolidated Statements of Cash Flows and new ROU assets included in our Condensed Consolidated Balance Sheets: Nine Months Ended (In millions) 2022 2021 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - finance leases $ 4.2 $ 3.6 Operating cash flows - operating leases $ 22.4 $ 22.5 Financing cash flows - finance leases $ 7.7 $ 7.8 ROU assets obtained in exchange for new finance lease liabilities $ 5.4 $ 4.7 ROU assets obtained in exchange for new operating lease liabilities $ 29.7 $ 14.0 Nine Months Ended 2022 2021 Weighted average information: Finance leases Remaining lease term (in years) 5.9 5.9 Discount rate 4.7 % 4.6 % Operating leases Remaining lease term (in years) 4.4 4.4 Discount rate 4.7 % 4.7 %

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Net Sales and Adjusted EBITDA by Reportable Segments	The following tables show Net sales and Segment Adjusted EBITDA by reportable segment: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Net sales: Food $ 829.8 $ 797.4 $ 2,443.3 $ 2,236.3 As a % of Consolidated net sales 59.3 % 56.7 % 57.7 % 55.9 % Protective 570.6 609.3 1,792.7 1,766.0 As a % of Consolidated net sales 40.7 % 43.3 % 42.3 % 44.1 % Consolidated Net sales $ 1,400.4 $ 1,406.7 $ 4,236.0 $ 4,002.3 Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Segment Adjusted EBITDA: Food $ 185.3 $ 169.4 $ 553.4 $ 484.4 Adjusted EBITDA Margin 22.3 % 21.2 % 22.6 % 21.7 % Protective 109.5 102.7 363.2 319.9 Adjusted EBITDA Margin 19.2 % 16.9 % 20.3 % 18.1 % Total Segment Adjusted EBITDA $ 294.8 $ 272.1 $ 916.6 $ 804.3
Reconciliation of Net Earning (Loss) to Total Company Adjusted EBITDA	The following table shows a reconciliation of Segment Adjusted EBITDA to Earnings before income tax provision: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Food Adjusted EBITDA $ 185.3 $ 169.4 $ 553.4 $ 484.4 Protective Adjusted EBITDA 109.5 102.7 363.2 319.9 Corporate Adjusted EBITDA (2.2) (1.5) (3.6) (2.4) Interest expense, net (40.9) (42.4) (119.3) (127.6) Depreciation and amortization (1) (59.4) (55.2) (179.0) (170.3) Special Items: Restructuring charges (2) (0.6) (2.4) (4.6) (4.5) Other restructuring associated costs (3) (1.6) (5.4) (8.5) (15.5) Foreign currency exchange loss due to highly inflationary economies (2.2) (0.9) (5.9) (2.9) Loss on debt redemption and refinancing activities — (14.7) (11.2) (14.7) Fair value gain/impairment (loss) on equity investments — 6.6 (31.6) 6.6 Charges related to acquisition and divestiture activity (0.3) (0.8) 0.8 (1.9) Other Special Items (4) (3.6) (1.0) (3.6) (1.9) Pre-tax impact of Special Items (8.3) (18.6) (64.6) (34.8) Earnings before income tax provision $ 184.0 $ 154.4 $ 550.1 $ 469.2 (1) Depreciation and amortization by segment were as follows: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Food $ 34.4 $ 32.3 $ 103.7 $ 96.7 Protective 25.0 22.9 75.3 73.6 Total Company depreciation and amortization (i) $ 59.4 $ 55.2 $ 179.0 $ 170.3 (i) Includes share-based incentive compensation of $12.7 million and $41.3 million for the three and nine months ended September 30, 2022, respectively, and $10.6 million and $34.4 million for the three and nine months ended September 30, 2021, respectively. (2) Restructuring charges by segment were as follows: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Food $ 0.6 $ 0.8 $ 3.1 $ 1.9 Protective — 1.6 1.5 2.6 Total Company restructuring charges $ 0.6 $ 2.4 $ 4.6 $ 4.5 (3) Restructuring associated costs for the three and nine months ended September 30, 2022 and 2021 primarily relate to fees paid to third-party consultants in support of the Reinvent SEE business transformation. The nine months ended September 30, 2022 also includes site consolidation costs and the nine months ended September 30, 2021 also includes a one-time, non-cash cumulative translation adjustment (CTA) loss recognized due to the wind-up of one of our legal entities. (4) Other Special Items for the three and nine months ended September 30, 2022 relate to fees paid for professional services, including legal fees, directly associated with Special Items of events that are considered one-time or infrequent in nature. For the nine months ended September 30, 2022, the professional fees are partially offset by a one-time gain on the disposal of land in the United Kingdom (UK).
Assets by Reportable Segments	The following table shows assets allocated by reportable segment. Assets allocated by reportable segment include: trade receivables, net; inventory, net; property and equipment, net; goodwill; intangible assets, net; and leased systems, net. (In millions) September 30, 2022 December 31, 2021 Assets allocated to segments: Food $ 2,371.8 $ 2,169.0 Protective 2,844.2 2,844.3 Total segments 5,216.0 5,013.3 Assets not allocated: Cash and cash equivalents $ 248.8 $ 561.0 Non-current assets held for sale — 1.5 Income tax receivables 20.8 28.8 Other receivables 95.8 83.7 Deferred taxes 117.1 138.4 Other 376.6 402.6 Total $ 6,075.1 $ 6,229.3

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories, net	The following table details our inventories, net: (In millions) September 30, 2022 December 31, 2021 Raw materials $ 240.7 $ 167.6 Work in process 195.9 158.0 Finished goods 525.8 400.1 Total $ 962.4 $ 725.7

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, net	The following table details our property and equipment, net. (In millions) September 30, 2022 December 31, 2021 Land and improvements $ 42.6 $ 47.0 Buildings 763.2 790.2 Machinery and equipment 2,551.1 2,554.0 Other property and equipment 121.7 124.2 Construction-in-progress 193.5 200.8 Property and equipment, gross 3,672.1 3,716.2 Accumulated depreciation and amortization (2,441.1) (2,484.2) Property and equipment, net $ 1,231.0 $ 1,232.0
Interest Cost Capitalized and Depreciation and Amortization Expense for Property and Equipment	The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment and finance lease ROU assets. Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Interest cost capitalized $ 2.4 $ 2.0 $ 6.1 $ 5.2 Depreciation and amortization expense (1) $ 38.0 $ 34.9 $ 110.7 $ 106.8 (1) Includes amortization expense of finance lease ROU assets of $2.6 million and $7.9 million for the three and nine months ended September 30, 2022, respectively, and $2.7 million and $7.9 million for the three and nine months ended September 30, 2021, respectively.

Goodwill and Identifiable Int_2

Goodwill and Identifiable Intangible Assets, net (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill Balances by Segment Reporting Structure	The following table shows our goodwill balances by reportable segment: (In millions) Food Protective Total Gross Carrying Value at December 31, 2021 $ 576.6 $ 1,803.0 $ 2,379.6 Accumulated amortization (1) (49.3) (140.9) (190.2) Carrying Value at December 31, 2021 $ 527.3 $ 1,662.1 $ 2,189.4 Acquisition (2) 5.3 — 5.3 Currency translation (16.8) (20.8) (37.6) Carrying Value at September 30, 2022 $ 515.8 $ 1,641.3 $ 2,157.1 (1) There was no change to our accumulated amortization balance during the nine months ended September 30, 2022. (2) Represents the allocation of goodwill related to our acquisition of Foxpak. See Note 5, "Acquisition and Divestiture Activity," for further details.
Summary of Identifiable Intangible Assets with Indefinite Useful Lives	The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of September 30, 2022, there were no impairment indicators present. September 30, 2022 December 31, 2021 (In millions) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer relationships $ 96.3 $ (44.7) $ 51.6 $ 102.7 $ (42.4) $ 60.3 Trademarks and tradenames 30.5 (13.5) 17.0 31.2 (11.5) 19.7 Software 143.7 (105.9) 37.8 125.5 (90.5) 35.0 Technology 65.6 (42.0) 23.6 64.9 (38.3) 26.6 Contracts 11.3 (9.6) 1.7 11.5 (9.4) 2.1 Total intangible assets with definite lives 347.4 (215.7) 131.7 335.8 (192.1) 143.7 Trademarks and tradenames with indefinite lives 8.9 — 8.9 8.9 — 8.9 Total identifiable intangible assets, net $ 356.3 $ (215.7) $ 140.6 $ 344.7 $ (192.1) $ 152.6
Summary of Identifiable Intangible Assets with Definite Useful Lives	The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of September 30, 2022, there were no impairment indicators present. September 30, 2022 December 31, 2021 (In millions) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Customer relationships $ 96.3 $ (44.7) $ 51.6 $ 102.7 $ (42.4) $ 60.3 Trademarks and tradenames 30.5 (13.5) 17.0 31.2 (11.5) 19.7 Software 143.7 (105.9) 37.8 125.5 (90.5) 35.0 Technology 65.6 (42.0) 23.6 64.9 (38.3) 26.6 Contracts 11.3 (9.6) 1.7 11.5 (9.4) 2.1 Total intangible assets with definite lives 347.4 (215.7) 131.7 335.8 (192.1) 143.7 Trademarks and tradenames with indefinite lives 8.9 — 8.9 8.9 — 8.9 Total identifiable intangible assets, net $ 356.3 $ (215.7) $ 140.6 $ 344.7 $ (192.1) $ 152.6
Remaining Estimated Future Amortization Expense	The following table shows the remaining estimated future amortization expense at September 30, 2022. Year Amount (In millions) Remainder of 2022 $ 9.5 2023 31.0 2024 24.2 2025 18.3 2026 8.8 Thereafter 39.9 Total $ 131.7

Restructuring Activities (Table

Restructuring Activities (Tables)	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Approved Restructuring Spending	Restructuring spend is estimated to be incurred as follows: (In millions) Total Restructuring Program Range Less Program Spend to Date Remaining Restructuring Spend Low High Low High Costs of reduction in headcount as a result of reorganization $ 80 $ 85 $ (79) $ 1 $ 6 Other expenses associated with the Program 110 115 (110) — 5 Total expense $ 190 $ 200 $ (189) $ 1 $ 11 Capital expenditures 20 20 (19) 1 1 Total estimated cash cost (1) $ 210 $ 220 $ (208) $ 2 $ 12 (1) Total estimated cash cost excludes the impact of proceeds expected from the sale of property and equipment and foreign currency impact.
Restructuring and Relocation Activities	The following table details our aggregate restructuring activities incurred under the Program as reflected in the Condensed Consolidated Statements of Operations: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Other associated costs $ 1.6 $ 5.4 $ 8.5 $ 15.5 Restructuring charges 0.6 2.4 4.6 4.5 Total charges $ 2.2 $ 7.8 $ 13.1 $ 20.0 Capital expenditures $ 3.3 $ 1.7 $ 9.1 $ 5.0
Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining	The aggregate restructuring accrual, spending and other activity for the nine months ended September 30, 2022 and the accrual balance remaining at September 30, 2022 related to the Program were as follows: (In millions) Restructuring accrual at December 31, 2021 $ 11.3 Accrual and accrual adjustments 4.6 Cash payments during 2022 (6.9) Effect of changes in foreign currency exchange rates (0.3) Restructuring accrual at September 30, 2022 $ 8.7

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Total Debt Outstanding	Our total debt outstanding consisted of the amounts set forth in the following table: (In millions) Interest rate September 30, 2022 December 31, 2021 Short-term borrowings (1) $ 2.4 $ 1.3 Current portion of long-term debt (2) 401.0 487.2 Total current debt 403.4 488.5 Term Loan A due July 2023 — 34.6 Term Loan A due March 2027 504.1 — Senior Notes due April 2023 5.250 % — 423.8 Senior Notes due September 2023 4.500 % — 451.9 Senior Notes due December 2024 5.125 % 423.3 422.8 Senior Notes due September 2025 5.500 % 398.6 398.2 Senior Secured Notes due October 2026 1.573 % 595.7 595.0 Senior Notes due December 2027 4.000 % 421.8 421.4 Senior Notes due April 2029 5.000 % 421.1 — Senior Notes due July 2033 6.875 % 446.4 446.2 Other (2) 24.7 25.7 Total long-term debt, less current portion (3) 3,235.7 3,219.6 Total debt (4) $ 3,639.1 $ 3,708.1 (1) Short-term borrowings of $2.4 million and $1.3 million at September 30, 2022 and December 31, 2021, respectively, were comprised of short-term borrowings from various lines of credit. (2) As of September 30, 2022, current portion of long-term debt included Senior Notes due September 2023 of $392.6 million and finance lease liabilities of $8.4 million. As of December 31, 2021, current portion of long-term debt included $475.0 million related to the Term Loan A due August 2022, finance lease liabilities of $10.2 million and $2.0 million related to a portion of Term Loan A due 2023. Other debt includes long-term liabilities associated with our finance leases of $17.5 million and $19.2 million at September 30, 2022 and December 31, 2021, respectively. See Note 4, "Leases," for additional information on finance and operating lease liabilities. (3) Amounts are shown net of unamortized discounts and issuance costs of $20.0 million as of September 30, 2022 and $19.0 million as of December 31, 2021. (4) As of September 30, 2022, our weighted average interest rate on our short-term borrowings outstanding was 5.1% and on our long-term debt outstanding was 4.4%. As of December 31, 2021, our weighted average interest rate on our short-term borrowings outstanding was 3.6% and on our long-term debt outstanding was 4.1%.
Lines of Credit	The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including our revolving credit facility, and the amounts available under our accounts receivable securitization programs. (In millions) September 30, 2022 December 31, 2021 Used lines of credit (1) $ 2.4 $ 1.3 Unused lines of credit 1,284.9 1,309.0 Total available lines of credit (2) $ 1,287.3 $ 1,310.3 (1) Includes total borrowings under the accounts receivable securitization programs, the revolving credit facility and borrowings under lines of credit available to several subsidiaries. (2) Of the total available lines of credit, $1,122.1 million was committed as of September 30, 2022.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The following table details the fair value of our derivative instruments included on our Condensed Consolidated Balance Sheets. Cash Flow Hedge Non-Designated as Hedging Instruments Total (In millions) September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Derivative Assets Foreign currency forward contracts and options $ 7.4 $ 2.0 $ 2.8 $ 1.7 $ 10.2 $ 3.7 Total Derivative Assets $ 7.4 $ 2.0 $ 2.8 $ 1.7 $ 10.2 $ 3.7 Derivative Liabilities Foreign currency forward contracts $ — $ (0.6) $ (1.1) $ (1.0) $ (1.1) $ (1.6) Total Derivative Liabilities (1) $ — $ (0.6) $ (1.1) $ (1.0) $ (1.1) $ (1.6) Net Derivatives (2) $ 7.4 $ 1.4 $ 1.7 $ 0.7 $ 9.1 $ 2.1 (1) Excludes €400.0 million of euro-denominated debt ($392.0 million equivalent at September 30, 2022 and $451.9 million equivalent at December 31, 2021), which is designated as a net investment hedge. (2) The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification: Other Current Assets Other Current Liabilities (In millions) September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Gross position $ 10.2 $ 3.7 $ (1.1) $ (1.6) Impact of master netting agreements (0.8) (0.9) 0.8 0.9 Net amounts recognized on the Condensed Consolidated Balance Sheets $ 9.4 $ 2.8 $ (0.3) $ (0.7)
Offsetting Assets	The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification: Other Current Assets Other Current Liabilities (In millions) September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Gross position $ 10.2 $ 3.7 $ (1.1) $ (1.6) Impact of master netting agreements (0.8) (0.9) 0.8 0.9 Net amounts recognized on the Condensed Consolidated Balance Sheets $ 9.4 $ 2.8 $ (0.3) $ (0.7)
Offsetting Liabilities	The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification: Other Current Assets Other Current Liabilities (In millions) September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Gross position $ 10.2 $ 3.7 $ (1.1) $ (1.6) Impact of master netting agreements (0.8) (0.9) 0.8 0.9 Net amounts recognized on the Condensed Consolidated Balance Sheets $ 9.4 $ 2.8 $ (0.3) $ (0.7)
Effect of Derivative Instruments on Condensed Consolidated Statements of Operations	The following table details the effect of our derivative instruments on our Condensed Consolidated Statements of Operations. Amount of Gain (Loss) Recognized in Location of Gain (Loss) Recognized on Three Months Ended Nine Months Ended (In millions) Condensed Consolidated Statements of Operations 2022 2021 2022 2021 Derivatives designated as hedging instruments: Cash Flow Hedges: Foreign currency forward contracts Cost of sales $ 3.1 $ 0.9 $ 7.4 $ (3.3) Treasury locks Interest expense, net — — 0.1 0.1 Sub-total cash flow hedges 3.1 0.9 7.5 (3.2) Derivatives not designated as hedging instruments: Foreign currency forward and option contracts Other expense, net 1.7 0.6 3.8 6.2 Total $ 4.8 $ 1.5 $ 11.3 $ 3.0

Fair Value Measurements, Equi_2

Fair Value Measurements, Equity Investments and Other Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Hierarchy of Financial Instruments	The fair value, measured on a recurring basis, of our financial instruments, using the fair value hierarchy under U.S. GAAP, are included in the table below. September 30, 2022 (In millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 39.4 $ 39.4 $ — $ — Derivative financial and hedging instruments net asset: Foreign currency forward contracts $ 9.1 $ — $ 9.1 $ — December 31, 2021 (In millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 290.0 $ 290.0 $ — $ — Derivative financial and hedging instruments net asset: Foreign currency forward contracts $ 2.1 $ — $ 2.1 $ —
Carrying Value of Investments Without Readily Determinable Fair Values	The following carrying value of these investments were included within Other non-current assets in our Condensed Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021: (In millions) September 30, 2022 December 31, 2021 Carrying value at the beginning of period $ 45.8 $ 25.4 Purchases — 14.7 Impairments or downward adjustments (31.6) — Upward adjustments — 6.6 Currency translation on investments (1.9) (0.9) Carrying value at the end of period $ 12.3 $ 45.8
Carrying Amounts and Estimated Fair Values of Debt	The table below shows the carrying amounts and estimated fair values of our debt, excluding our lease liabilities. September 30, 2022 December 31, 2021 (In millions) Interest rate Carrying Amount Fair Value Carrying Amount Fair Value Term Loan A Facility due August 2022 $ — $ — $ 474.9 $ 474.9 Term Loan A Facility due July 2023 (1) — — 37.1 37.1 Term Loan A due March 2027 (1) 504.1 504.1 — — Senior Notes due April 2023 5.250 % — — 423.8 441.9 Senior Notes due September 2023 (1) 4.500 % 392.0 392.0 451.9 479.1 Senior Notes due December 2024 5.125 % 423.3 411.2 422.8 455.8 Senior Notes due September 2025 5.500 % 398.6 385.3 398.2 443.3 Senior Secured Notes due October 2026 1.573 % 595.7 504.4 595.0 581.3 Senior Notes due December 2027 4.000 % 421.8 367.3 421.4 443.8 Senior Notes due April 2029 5.000 % 421.1 381.2 — — Senior Notes due July 2033 6.875 % 446.4 428.1 446.2 571.9 Other foreign borrowings (1) 2.4 2.4 1.3 1.3 Other domestic borrowings 7.9 7.9 6.7 6.7 Total debt (2) $ 3,613.3 $ 3,383.9 $ 3,679.3 $ 3,937.1 (1) Includes borrowings denominated in currencies other than U.S. dollars.

Defined Benefit Pension Plans_2

Defined Benefit Pension Plans and Other Post-Employment Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost (Income)	The following tables show the components of net periodic benefit (income) cost for our defined benefit pension plans for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Three Months Ended (In millions) U.S. International Total U.S. International Total Components of net periodic benefit (income) cost: Service cost $ 0.1 $ 1.1 $ 1.2 $ — $ 1.3 $ 1.3 Interest cost 1.0 2.9 3.9 0.9 2.2 3.1 Expected return on plan assets (2.2) (5.0) (7.2) (2.3) (4.6) (6.9) Amortization of net prior service cost — 0.1 0.1 — 0.1 0.1 Amortization of net actuarial loss 0.5 1.0 1.5 0.6 1.4 2.0 Net periodic (income) cost (0.6) 0.1 (0.5) (0.8) 0.4 (0.4) Settlement cost — — — — 0.5 0.5 Total benefit (income) cost $ (0.6) $ 0.1 $ (0.5) $ (0.8) $ 0.9 $ 0.1 Nine Months Ended Nine Months Ended (In millions) U.S. International Total U.S. International Total Components of net periodic benefit (income) cost: Service cost $ 0.1 $ 3.4 $ 3.5 $ 0.1 $ 3.9 $ 4.0 Interest cost 3.1 8.9 12.0 2.6 6.6 9.2 Expected return on plan assets (6.7) (15.0) (21.7) (6.7) (13.9) (20.6) Amortization of net prior service cost — 0.2 0.2 — 0.2 0.2 Amortization of net actuarial loss 1.3 2.9 4.2 1.8 4.0 5.8 Net periodic (income) cost (2.2) 0.4 (1.8) (2.2) 0.8 (1.4) Settlement (credit) cost — (0.1) (0.1) — 0.7 0.7 Total benefit (income) cost $ (2.2) $ 0.3 $ (1.9) $ (2.2) $ 1.5 $ (0.7) The following table shows the components of net periodic benefit cost for our other post-retirement employee benefit plans for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Components of net periodic benefit cost: Interest cost $ 0.2 $ 0.1 $ 0.6 $ 0.4 Amortization of net prior service credit — — (0.2) (0.2) Amortization of net actuarial gain (0.1) — (0.1) (0.1) Net periodic benefit cost $ 0.1 $ 0.1 $ 0.3 $ 0.1

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Total Share-based Incentive Compensation Expense	The table below shows our total share-based incentive compensation expense: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Total share-based incentive compensation expense (1) $ 12.7 $ 10.6 $ 41.3 $ 34.4
Number of PSUs Granted and Grant Date Fair Value of PSUs	The target number of PSUs granted and the grant date fair value of the PSUs are shown in the following table: Adjusted EBITDA CAGR ROIC February 24, 2022 grant date Number of units granted 72,308 72,308 Fair value on grant date (per unit) $ 70.92 $ 70.92 March 1, 2022 grant date Number of units granted 16,766 16,766 Fair value on grant date (per unit) $ 69.71 $ 69.71
Summary of Assumptions Used to Calculate the Grant Date Fair Value	The assumptions used to calculate the grant date fair value of the PSUs are shown in the following table: February 24, 2022 March 1, 2022 Expected price volatility 37.4 % 37.7 % Risk-free interest rate 1.7 % 1.5 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Details of Comprehensive Income (Loss)	The following table provides details of comprehensive income (loss) for the nine months ended September 30, 2022 and 2021: (In millions) Unrecognized Cumulative Translation Adjustment (1) Unrecognized Unrecognized Accumulated Other Balance at December 31, 2021 $ (137.5) $ (760.5) $ (38.3) $ 2.4 $ (933.9) Other comprehensive (loss) income before reclassifications — (149.0) 45.4 10.8 (92.8) Less: amounts reclassified from accumulated other comprehensive loss 3.0 — — (5.8) (2.8) Net current period other comprehensive income (loss) 3.0 (149.0) 45.4 5.0 (95.6) Balance at September 30, 2022 $ (134.5) $ (909.5) $ 7.1 $ 7.4 $ (1,029.5) Balance at December 31, 2020 $ (172.5) $ (721.7) $ (67.5) $ (1.8) $ (963.5) Other comprehensive (loss) income before reclassifications (1.6) (33.4) 21.0 2.9 (11.1) Less: amounts reclassified from accumulated other comprehensive loss 4.8 — — 2.2 7.0 Net current period other comprehensive income (loss) 3.2 (33.4) 21.0 5.1 (4.1) Balance at September 30, 2021 $ (169.3) $ (755.1) $ (46.5) $ 3.3 $ (967.6) (1) Includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $55.4 million and $19.4 million for the nine months ended September 30, 2022 and 2021, respectively.
Detail of Amounts Reclassified from AOCL	The following table provides detail of amounts reclassified from AOCL: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Location of Amount Defined benefit pension plans and other post-employment benefits: Net settlement (cost) credit $ — $ (0.5) $ 0.1 $ (0.7) Prior service cost (0.1) (0.1) — — Actuarial losses (1.4) (2.0) (4.1) (5.7) Total pre-tax amount (1.5) (2.6) (4.0) (6.4) Other expense, net Tax benefit 0.4 0.6 1.0 1.6 Net of tax (1.1) (2.0) (3.0) (4.8) Net gains (losses) on cash flow hedging derivatives: (1) Foreign currency forward contracts 3.1 0.9 7.4 (3.3) Cost of sales Treasury locks — — 0.1 0.1 Interest expense, net Total pre-tax amount 3.1 0.9 7.5 (3.2) Tax (expense) benefit (0.8) (0.3) (1.7) 1.0 Net of tax 2.3 0.6 5.8 (2.2) Total reclassifications for the period $ 1.2 $ (1.4) $ 2.8 $ (7.0) (1) These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 14, “Derivatives and Hedging Activities,” for additional details.

Other Expense, net (Tables)

Other Expense, net (Tables)	9 Months Ended
	Sep. 30, 2022
Other Income and Expenses [Abstract]
Details of Other Expense, net	The following table provides details of other expense, net: Three Months Ended Nine Months Ended (In millions) 2022 2021 2022 2021 Net foreign exchange transaction loss $ (0.2) $ (0.5) $ (0.9) $ (0.5) Bank fee expense (1.4) (1.0) (4.0) (3.4) Pension income other than service costs 0.7 0.7 3.3 3.3 Fair value gain/impairment (loss) on equity investments (1) — 6.6 (31.6) 6.6 Foreign currency exchange loss due to highly inflationary economies (2.2) (0.9) (5.9) (2.9) Loss on debt redemption and refinancing activities — (14.7) (11.2) (14.7) Other income (2) 1.6 6.7 8.0 11.7 Other expense (1.6) (1.4) (5.1) (4.0) Other expense, net $ (3.1) $ (4.5) $ (47.4) $ (3.9) (1) See Note 15, "Fair Value Measurements, Equity Investments and Other Financial Instruments," for further details. (2) During the three months ended September 30, 2021, we recorded other income of $5.0 million related to a claim for the overpayment of certain indirect taxes paid by Sealed Air subsidiaries in Brazil, resulting from a double taxation calculation. In 2021, the Supreme Court of Brazil issued a final decision that clarified the methodology companies should use in the calculation. This decision was published and certified by the courts during the third quarter of 2021.

Net Earnings Per Common Share (

Net Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Net Earnings Per Common Share	The following table shows the calculation of basic and diluted net earnings per common share: Three Months Ended Nine Months Ended (In millions, except per share amounts) 2022 2021 2022 2021 Basic Net Earnings Per Common Share: Numerator: Net earnings $ 134.2 $ 107.7 $ 397.3 $ 325.9 Distributed and allocated undistributed net earnings to unvested restricted stockholders — — — — Net earnings available to common stockholders $ 134.2 $ 107.7 $ 397.3 $ 325.9 Denominator: Weighted average number of common shares outstanding - basic 145.2 149.9 146.3 151.8 Basic net earnings per common share: Basic net earnings per common share $ 0.92 $ 0.72 $ 2.72 $ 2.15 Diluted Net Earnings Per Common Share: Numerator: Net earnings available to common stockholders $ 134.2 $ 107.7 $ 397.3 $ 325.9 Denominator: Weighted average number of common shares outstanding - basic 145.2 149.9 146.3 151.8 Effect of dilutive stock shares and units 1.4 1.5 1.5 1.4 Weighted average number of common shares outstanding - diluted under treasury stock 146.6 151.4 147.8 153.2 Diluted net earnings per common share $ 0.92 $ 0.71 $ 2.69 $ 2.13

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) wholly-ownedSubsidiary	Sep. 30, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of wholly-owned subsidiaries | wholly-ownedSubsidiary			2
Remeasurement loss | $	$ 2.3	$ 0.9	$ 6	$ 2.8

Revenue Recognition, Contract_3

Revenue Recognition, Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized from performance obligations satisfied In previous periods (decrease) increase	$ (2)	$ 0.9	$ (1.8)	$ 1.7
Revenue recognized that was previously included in contract liability	$ 2.7	$ 3	$ 10.9	$ 11.6

Revenue Recognition, Contract_4

Revenue Recognition, Contracts with Customers - Revenue from Contract With Customers Summarized by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	$ 1,392.6	$ 1,396.2	$ 4,212.6	$ 3,974.5
Non-Topic 606 Revenue (Leasing: Sales-type and Operating)	7.8	10.5	23.4	27.8
Total revenues	1,400.4	1,406.7	4,236	4,002.3
Food
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	823.8	788.4	2,425.2	2,213
Non-Topic 606 Revenue (Leasing: Sales-type and Operating)	6	9	18.1	23.3
Total revenues	829.8	797.4	2,443.3	2,236.3
Protective
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	568.8	607.8	1,787.4	1,761.5
Non-Topic 606 Revenue (Leasing: Sales-type and Operating)	1.8	1.5	5.3	4.5
Total revenues	570.6	609.3	1,792.7	1,766
Americas
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	924.5	899.3	2,791	2,513.9
Americas | Food
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	547.9	506.3	1,603.5	1,399.5
Americas | Protective
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	376.6	393	1,187.5	1,114.4
EMEA
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	274.9	294.3	853.5	876.3
EMEA | Food
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	165	170.6	499.9	490.6
EMEA | Protective
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	109.9	123.7	353.6	385.7
APAC
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	193.2	202.6	568.1	584.3
APAC | Food
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	110.9	111.5	321.8	322.9
APAC | Protective
Revenue from External Customer [Line Items]
Topic 606 Segment Revenue	$ 82.3	$ 91.1	$ 246.3	$ 261.4

Revenue Recognition, Contract_5

Revenue Recognition, Contracts with Customers - Contracts with Customer Asset and Liability (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0.3	$ 1.2
Contract liabilities	$ 20.8	$ 20.2

Revenue Recognition, Contract_6

Revenue Recognition, Contracts with Customers - Remaining Performance Obligation and Total Transaction Price (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total transaction price	$ 20.8	$ 20.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total transaction price		$ 15.9
Remaining performance obligation, expected timing of satisfaction, period		12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total transaction price	$ 16.7
Remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total transaction price		$ 4.3
Remaining performance obligation, expected timing of satisfaction, period
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total transaction price	$ 4.1
Remaining performance obligation, expected timing of satisfaction, period

Leases - Summary of Lease Payme

Leases - Summary of Lease Payments Captured in Lease Receivables (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Short-Term (12 months or less)	$ 6	$ 5.7
Long-Term	16.8	18.8
Lease receivables	$ 22.8	$ 24.5
Sales-type and operating lease revenue , percentage of net trade sales (less than)	1%	1%

Leases - Lease Obligations (Det

Leases - Lease Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Leases [Abstract]
Finance leases - ROU assets	$ 57	$ 58
Finance leases - Accumulated depreciation	(30.4)	(27.3)
Operating leases - ROU assets	150.1	133.5
Operating leases - Accumulated depreciation	(80)	(69.7)
Total lease assets	96.7	94.5
Finance leases	(8.4)	(10.2)
Operating leases	(22.4)	(21.2)
Finance leases	(17.5)	(19.2)
Operating leases	(51.9)	(44.5)
Total lease liabilities	$ (100.2)	$ (95.1)

Leases - Schedule of Lease Comm

Leases - Schedule of Lease Commitments (Details) $ in Millions	Sep. 30, 2022 USD ($)
Finance leases
Remainder of 2022	$ 3
2023	8.4
2024	4.2
2025	2.7
2026	2.1
Thereafter	10.1
Total lease payments	30.5
Less: Interest	(4.6)
Present value of lease liabilities	25.9
Operating leases
Remainder of 2022	6.9
2023	24.1
2024	17.8
2025	13.2
2026	10
Thereafter	11
Total lease payments	83
Less: Interest	(8.7)
Present value of lease liabilities	$ 74.3

Leases - Lease Cost and Other I

Leases - Lease Cost and Other Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finance leases
Amortization of ROU assets	$ 2.6	$ 2.7	$ 7.9	$ 7.9
Interest on lease liabilities	0.3	0.3	1	1.1
Operating leases	7.3	7.7	23.6	23
Short-term lease cost	0.9	1.3	2.2	3.8
Variable lease cost	1.9	1.8	5.3	4.5
Total lease cost	$ 13	$ 13.8	40	40.3
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - finance leases			4.2	3.6
Operating cash flows - operating leases			22.4	22.5
Financing cash flows - finance leases			7.7	7.8
ROU assets obtained in exchange for new lease liabilities
ROU assets obtained in exchange for new finance lease liabilities			5.4	4.7
ROU assets obtained in exchange for new operating lease liabilities			$ 29.7	$ 14
Finance leases
Remaining lease term (in years)	5 years 10 months 24 days	5 years 10 months 24 days	5 years 10 months 24 days	5 years 10 months 24 days
Discount rate	4.70%	4.60%	4.70%	4.60%
Operating leases
Remaining lease term (in years)	4 years 4 months 24 days	4 years 4 months 24 days	4 years 4 months 24 days	4 years 4 months 24 days
Discount rate	4.70%	4.70%	4.70%	4.70%

Acquisition and Divestiture A_2

Acquisition and Divestiture Activity - Acquisitions Narrative (Details) - USD ($) $ in Millions	Feb. 02, 2022	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 2,157.1	$ 2,189.4
Foxpak Flexibles Ltd.
Business Acquisition [Line Items]
Acquisition purchase price paid	$ 9.7
Goodwill	5.3
Allocation to intangible assets	2.7
Allocation to deferred tax liability	$ 0.3

Acquisition and Divestiture A_3

Acquisition and Divestiture Activity - Divestiture of Reflectix Inc. (Details) - Disposal Group, Disposed of by Sale, Not Discontinued Operations - Reflectix, Inc - Protective - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business		$ 82.5
Gain on disposal	$ 0.4		$ 45.3
Net carrying value of business		35.8	35.8
Inventory		6.8	6.8
Trade receivables		6.6	6.6
Property and equipment		1	1
Goodwill		$ 23.2	23.2
Tax expense related to gain on sale			$ 17.3

Segments - Additional Informati

Segments - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Net Sales and Adjust

Segments - Net Sales and Adjusted EBITDA by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Consolidated Net sales	$ 1,400.4	$ 1,406.7	$ 4,236	$ 4,002.3
Segment Adjusted EBITDA:	294.8	272.1	916.6	804.3
Food
Segment Reporting Information [Line Items]
Consolidated Net sales	$ 829.8	$ 797.4	$ 2,443.3	$ 2,236.3
Food and Protective Adjusted EBITDA Margin	22.30%	21.20%	22.60%	21.70%
Food | Product Concentration Risk | Net Sales
Segment Reporting Information [Line Items]
As a % of Consolidated net sales	59.30%	56.70%	57.70%	55.90%
Food | Operating Segments
Segment Reporting Information [Line Items]
Consolidated Net sales	$ 829.8	$ 797.4	$ 2,443.3	$ 2,236.3
Segment Adjusted EBITDA:	185.3	169.4	553.4	484.4
Protective
Segment Reporting Information [Line Items]
Consolidated Net sales	$ 570.6	$ 609.3	$ 1,792.7	$ 1,766
Food and Protective Adjusted EBITDA Margin	19.20%	16.90%	20.30%	18.10%
Protective | Product Concentration Risk | Net Sales
Segment Reporting Information [Line Items]
As a % of Consolidated net sales	40.70%	43.30%	42.30%	44.10%
Protective | Operating Segments
Segment Reporting Information [Line Items]
Consolidated Net sales	$ 570.6	$ 609.3	$ 1,792.7	$ 1,766
Segment Adjusted EBITDA:	$ 109.5	$ 102.7	$ 363.2	$ 319.9

Segments - Reconciliation of Ne

Segments - Reconciliation of Net Earnings to Total Company Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	$ 294.8	$ 272.1	$ 916.6	$ 804.3
Interest expense, net	(40.9)	(42.4)	(119.3)	(127.6)
Depreciation and amortization	(59.4)	(55.2)	(179)	(170.3)
Special items
Restructuring charges	(0.6)	(2.4)	(4.6)	(4.5)
Other restructuring associated costs	(1.6)	(5.4)	(8.5)	(15.5)
Foreign currency exchange loss due to highly inflationary economies	(2.2)	(0.9)	(5.9)	(2.9)
Loss on debt redemption and refinancing activities	0	(14.7)	(11.2)	(14.7)
Fair value gain/impairment (loss) on equity investments	0	6.6	(31.6)	6.6
Charges related to acquisition and divestiture activity	(0.3)	(0.8)	0.8	(1.9)
Other Special Items	(3.6)	(1)	(3.6)	(1.9)
Pre-tax impact of Special Items	(8.3)	(18.6)	(64.6)	(34.8)
Earnings before income tax provision	184	154.4	550.1	469.2
Corporate
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	(2.2)	(1.5)	(3.6)	(2.4)
Food
Special items
Restructuring charges	(0.6)	(0.8)	(3.1)	(1.9)
Food | Operating Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	185.3	169.4	553.4	484.4
Depreciation and amortization	(34.4)	(32.3)	(103.7)	(96.7)
Protective
Special items
Restructuring charges	0	(1.6)	(1.5)	(2.6)
Protective | Operating Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	109.5	102.7	363.2	319.9
Depreciation and amortization	$ (25)	$ (22.9)	$ (75.3)	$ (73.6)

Segments - Reconciliation of _2

Segments - Reconciliation of Net Earnings to Total Company Adjusted EBITDA-Depreciation and Restructuring Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Depreciation and Amortization [Abstract]
Depreciation and amortization	$ 59.4	$ 55.2	$ 179	$ 170.3
Share-based incentive compensation	12.7	10.6	41.3	34.4
Total Company restructuring charges	0.6	2.4	4.6	4.5
Food
Depreciation and Amortization [Abstract]
Total Company restructuring charges	0.6	0.8	3.1	1.9
Food | Operating Segments
Depreciation and Amortization [Abstract]
Depreciation and amortization	34.4	32.3	103.7	96.7
Protective
Depreciation and Amortization [Abstract]
Total Company restructuring charges	0	1.6	1.5	2.6
Protective | Operating Segments
Depreciation and Amortization [Abstract]
Depreciation and amortization	$ 25	$ 22.9	$ 75.3	$ 73.6

Segments - Assets by Reportable

Segments - Assets by Reportable Segments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets not allocated:
Cash and cash equivalents	$ 248.8	$ 561	$ 548.7
Non-current assets held for sale	0	1.5
Income tax receivables	20.8	28.8
Other receivables	95.8	83.7
Deferred taxes	117.1	138.4
Other	328	382
Total assets	6,075.1	6,229.3
Assets allocated to segments:
Assets allocated to segments:
Assets allocated to segments	5,216	5,013.3
Assets allocated to segments: | Food
Assets allocated to segments:
Assets allocated to segments	2,371.8	2,169
Assets allocated to segments: | Protective
Assets allocated to segments:
Assets allocated to segments	2,844.2	2,844.3
Assets not allocated:
Assets not allocated:
Cash and cash equivalents	248.8	561
Non-current assets held for sale	0	1.5
Income tax receivables	20.8	28.8
Other receivables	95.8	83.7
Deferred taxes	117.1	138.4
Other	376.6	402.6
Total assets	$ 6,075.1	$ 6,229.3

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 240.7	$ 167.6
Work in process	195.9	158
Finished goods	525.8	400.1
Total	$ 962.4	$ 725.7

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment, net (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Land and improvements	$ 42.6	$ 47
Buildings	763.2	790.2
Machinery and equipment	2,551.1	2,554
Other property and equipment	121.7	124.2
Construction-in-progress	193.5	200.8
Property and equipment, gross	3,672.1	3,716.2
Accumulated depreciation and amortization	(2,441.1)	(2,484.2)
Property and equipment, net	$ 1,231	$ 1,232

Property and Equipment, net - I

Property and Equipment, net - Interest Cost Capitalized and Depreciation and Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Interest cost capitalized	$ 2.4	$ 2	$ 6.1	$ 5.2
Depreciation and amortization expense	38	34.9	110.7	106.8
Amortization of finance lease ROU assets	$ 2.6	$ 2.7	$ 7.9	$ 7.9

Goodwill and Identifiable Int_3

Goodwill and Identifiable Intangible Assets, net - Summary of Goodwill Balances by Reportable Segment (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Gross Carrying Value	$ 2,379.6
Accumulated impairment		$ (190.2)
Carrying Value	2,189.4
Acquisition	5.3
Currency translation	(37.6)
Carrying Value	2,157.1
Food
Goodwill [Roll Forward]
Gross Carrying Value	576.6
Accumulated impairment		(49.3)
Carrying Value	527.3
Acquisition	5.3
Currency translation	(16.8)
Carrying Value	515.8
Protective
Goodwill [Roll Forward]
Gross Carrying Value	1,803
Accumulated impairment		$ (140.9)
Carrying Value	1,662.1
Acquisition	0
Currency translation	(20.8)
Carrying Value	$ 1,641.3

Goodwill and Identifiable Int_4

Goodwill and Identifiable Intangible Assets, net - Summary of Identifiable Intangible Assets, net (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 347.4	$ 335.8
Accumulated Amortization	(215.7)	(192.1)
Net	131.7	143.7
Total identifiable intangible assets, net
Gross Carrying Value	356.3	344.7
Net	140.6	152.6
Trademarks and tradenames with indefinite lives
Indefinite-lived Intangible Assets [Line Items]
Trademarks and tradenames with indefinite lives	8.9	8.9
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	96.3	102.7
Accumulated Amortization	(44.7)	(42.4)
Net	51.6	60.3
Trademarks and tradenames with indefinite lives
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	30.5	31.2
Accumulated Amortization	(13.5)	(11.5)
Net	17	19.7
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	143.7	125.5
Accumulated Amortization	(105.9)	(90.5)
Net	37.8	35
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	65.6	64.9
Accumulated Amortization	(42)	(38.3)
Net	23.6	26.6
Contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	11.3	11.5
Accumulated Amortization	(9.6)	(9.4)
Net	$ 1.7	$ 2.1

Goodwill and Identifiable Int_5

Goodwill and Identifiable Intangible Assets, net - Remaining Estimated Future Amortization Expense (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Year
Remainder of 2022	$ 9.5
2023	31
2024	24.2
2025	18.3
2026	8.8
Thereafter	39.9
Net	$ 131.7	$ 143.7

Accounts Receivable Securitiz_2

Accounts Receivable Securitization Programs (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) bank	Sep. 30, 2021 USD ($)	Sep. 30, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Outstanding borrowings	$ 2,400,000		$ 2,400,000			$ 1,300,000
Interest paid	40,900,000	$ 42,400,000	$ 119,300,000	$ 127,600,000
U.S. Accounts Receivable Securitization Program | U.S. Program
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Number of banks involved in sale of fractional ownership interest of accounts receivable | bank			2
Level of eligible assets available under accounts receivable securitization program			$ 50,000,000
Amounts available under program	50,000,000		50,000,000
U.S. Accounts Receivable Securitization Program | U.S. Program | Maximum
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Maximum purchase limit for receivable interests under accounts receivable securitization program	50,000,000		$ 50,000,000
European Accounts Receivable Securitization Program | European Program
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Number of banks involved in sale of fractional ownership interest of accounts receivable | bank			2
Amounts available under program	78,500,000		$ 78,500,000		€ 80,000,000
European Accounts Receivable Securitization Program | European Program | Maximum
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Maximum purchase limit for receivable interests under accounts receivable securitization program	78,500,000		78,500,000		€ 80,000,000
Accounts Receivable Securitization Programs
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Outstanding borrowings	0		0			$ 0
Interest paid	$ 100,000	$ 0	$ 100,000	$ 0

Accounts Receivable Factoring_2

Accounts Receivable Factoring Agreements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Transfers and Servicing [Abstract]
Gross amounts factored under program			$ 497.7	$ 479.9
Fees associated with transfer of receivables	$ 1.7	$ 1	$ 4.6	$ 2.7

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Dec. 31, 2018	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0.6	$ 2.4	$ 4.6	$ 4.5
Other associated costs		1.6	5.4	8.5	15.5
Restructuring program term (in years)	3 years
Restructuring accrual expected to pay		8.5		8.5		$ 10.2
Restructuring accrual		8.7		8.7		$ 11.3
Food
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0.6	0.8	3.1	1.9
Restructuring accrual		3		3
Protective
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0	$ 1.6	1.5	$ 2.6
Restructuring accrual		5.7		5.7
Program
Restructuring Cost and Reserve [Line Items]
Other associated costs				8.5
Restructuring accrual expected to pay		8.5		8.5
Restructuring accrual remaining		0.2		0.2
Program | Minimum
Restructuring Cost and Reserve [Line Items]
Other associated costs				110
Restructuring expected spend		210		210
Program | Maximum
Restructuring Cost and Reserve [Line Items]
Other associated costs				115
Restructuring expected spend	$ 220	$ 220		$ 220

Restructuring Activities - Sche

Restructuring Activities - Schedule of Approved Restructuring Spending (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2018
Total Restructuring Program Range
Other expenses associated with the Program	$ 1.6	$ 5.4	$ 8.5	$ 15.5
Total charges	2.2	7.8	13.1	20
Capital expenditures	3.3	$ 1.7	9.1	$ 5
Program
Total Restructuring Program Range
Other expenses associated with the Program			8.5
Less Program Spend to Date
Costs of reduction in headcount as a result of reorganization	(79)		(79)
Other expenses associated with the Program	(110)		(110)
Total expense	(189)		(189)
Capital expenditures	(19)		(19)
Total estimated cash cost	(208)		(208)
Program | Minimum
Total Restructuring Program Range
Costs of reduction in headcount as a result of reorganization			80
Other expenses associated with the Program			110
Total charges			190
Capital expenditures			20
Restructuring expected spend	210		210
Restructuring and Related Cost, Expected Cost [Abstract]
Costs of reduction in headcount as a result of reorganization	1		1
Other expenses associated with the Program	0		0
Total expense	1		1
Capital expenditures	1		1
Total estimated cash cost	2		2
Program | Maximum
Total Restructuring Program Range
Costs of reduction in headcount as a result of reorganization			85
Other expenses associated with the Program			115
Total charges			200
Capital expenditures			20
Restructuring expected spend	220		220		$ 220
Restructuring and Related Cost, Expected Cost [Abstract]
Costs of reduction in headcount as a result of reorganization	6		6
Other expenses associated with the Program	5		5
Total expense	11		11
Capital expenditures	1		1
Total estimated cash cost	$ 12		$ 12

Restructuring Activities - Summ

Restructuring Activities - Summary of Restructuring Activities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Other associated costs	$ 1.6	$ 5.4	$ 8.5	$ 15.5
Restructuring charges	0.6	2.4	4.6	4.5
Total charges	2.2	7.8	13.1	20
Capital expenditures	3.3	1.7	9.1	5
Continuing Operations
Restructuring Cost and Reserve [Line Items]
Other associated costs	1.6	5.4	8.5	15.5
Restructuring charges	$ 0.6	$ 2.4	$ 4.6	$ 4.5

Restructuring Activities - Rest

Restructuring Activities - Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring accrual at beginning of period	$ 11.3
Accrual and accrual adjustments	4.6
Cash payments during period	(6.9)
Effect of changes in foreign currency exchange rates	(0.3)
Restructuring accrual at end of period	$ 8.7

Debt and Credit Facilities - To

Debt and Credit Facilities - Total Debt Outstanding (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 29, 2021
Debt Instrument [Line Items]
Short-term borrowings	$ 2.4	$ 1.3
Current portion of long-term debt	401	487.2
Total current debt	403.4	488.5
Other	24.7	25.7
Total long-term debt, less current portion	3,235.7	3,219.6
Total debt	3,639.1	3,708.1
Finance lease liability, current	8.4	10.2
Finance lease liability, noncurrent	17.5	19.2
Unamortized discounts ands issuance costs	$ 20	$ 19
Short-term debt, weighted average interest rate	5.10%	3.60%
Long-term debt, weighted average interest rate	4.40%	4.10%
Senior Notes due April 2023
Debt Instrument [Line Items]
Debt interest rate	5.25%
Senior notes	$ 0	$ 423.8
Senior Notes due September 2023
Debt Instrument [Line Items]
Current portion of long-term debt	$ 392.6
Debt interest rate	4.50%
Senior notes	$ 0	451.9
Senior Notes due December 2024
Debt Instrument [Line Items]
Debt interest rate	5.125%
Senior notes	$ 423.3	422.8
Senior Notes due September 2025
Debt Instrument [Line Items]
Debt interest rate	5.50%
Senior notes	$ 398.6	398.2
Senior Secured Notes due October 2026
Debt Instrument [Line Items]
Debt interest rate	1.573%		1.573%
Senior notes	$ 595.7	595
Senior Notes due December 2027
Debt Instrument [Line Items]
Debt interest rate	4%
Senior notes	$ 421.8	421.4
Senior Notes due April 2029
Debt Instrument [Line Items]
Debt interest rate	5%
Senior notes	$ 421.1	0
Senior Notes due July 2033
Debt Instrument [Line Items]
Debt interest rate	6.875%
Senior notes	$ 446.4	446.2
Term Loan A due July 2023
Debt Instrument [Line Items]
Current portion of long-term debt		2
Term loans	0	34.6
Term Loan A due March 2027
Debt Instrument [Line Items]
Term loans	504.1	0
Term Loan A due August 2022
Debt Instrument [Line Items]
Current portion of long-term debt		475
Line of Credit
Debt Instrument [Line Items]
Short-term borrowings	$ 2.4	$ 1.3

Debt and Credit Facilities - Su

Debt and Credit Facilities - Summary of Available Lines of Credit (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Used lines of credit	$ 2.4	$ 1.3
Unused lines of credit	1,284.9	1,309
Total available lines of credit	1,287.3	$ 1,310.3
Committed Line of Credit Facilities
Line of Credit Facility [Line Items]
Total available lines of credit	$ 1,122.1

Debt and Credit Facilities - Am

Debt and Credit Facilities - Amended and Restated Senior Secured Credit Facility (Details) £ in Millions, $ in Millions		3 Months Ended			9 Months Ended
	Mar. 25, 2022 USD ($)	Sep. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 25, 2022 GBP (£)
Line of Credit Facility [Line Items]
Loss on debt redemption and refinancing activities		$ 0		$ 14.7	$ 11.2	$ 14.7
Accelerated amortization of original issuance discount			$ 0.4
Fourth Amended and Restated Credit Agreement
Line of Credit Facility [Line Items]
Loss on debt redemption and refinancing activities			0.7
Non-lender fees			0.3
Payments of lender and third-party fees for debt modification			1.2
Payment of lender and non-lender fees and other			$ 3
Amortization expense		$ 0.3			$ 1
Fourth Amended and Restated Credit Agreement | Minimum | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	1%
Fourth Amended and Restated Credit Agreement | Maximum | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
Fourth Amended and Restated Credit Agreement | U.S. term loan A facility
Line of Credit Facility [Line Items]
Revolving credit facilities	$ 475
Fourth Amended and Restated Credit Agreement | Pound sterling term loan A facility
Line of Credit Facility [Line Items]
Revolving credit facilities | £							£ 27.2
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facilities	$ 1,000

Debt and Credit Facilities - Se

Debt and Credit Facilities - Senior Notes (Details) - USD ($)			3 Months Ended			9 Months Ended		12 Months Ended
	Apr. 19, 2022	Sep. 29, 2021	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 0		$ 14,700,000	$ 11,200,000	$ 14,700,000
Repayment of debt						$ 425,000,000	$ 522,600,000
Term Loan A due July 2023
Debt Instrument [Line Items]
Accrued interest		$ 200,000
Repayment of debt		177,200,000
Senior Notes due April 2029
Debt Instrument [Line Items]
Debt interest rate			5%			5%
Senior Notes due April 2029 | Senior Notes
Debt Instrument [Line Items]
Debt instrument aggregate principal	$ 425,000,000
Debt interest rate	5%
Debt issuance costs capitalized	$ 4,200,000
Senior Notes due April 2029 | Senior Notes | Redemption, period, one
Debt Instrument [Line Items]
Redemption price, percentage	100%
Senior Notes due April 2029 | Senior Notes | Redemption, period two
Debt Instrument [Line Items]
Redemption price, percentage of principal amount redeemed (up to)	40%
Senior Notes due April 2023
Debt Instrument [Line Items]
Debt interest rate			5.25%			5.25%
Senior Notes due April 2023 | Senior Notes
Debt Instrument [Line Items]
Debt interest rate	5.25%
Debt repurchase amount	$ 435,900,000
Repurchased principal amount	425,000,000
Debt premium	9,600,000
Accrued interest	$ 1,300,000
Loss on extinguishment of debt				$ (10,500,000)
Accelerated amortization of non-lender fees				$ 900,000
Senior Secured Notes due October 2026
Debt Instrument [Line Items]
Debt instrument aggregate principal		$ 600,000,000
Debt interest rate		1.573%	1.573%			1.573%
Redemption price, percentage		100%
Debt redeemable period, prior to maturity		1 month
Non-lender fees		$ 5,300,000
4.875% Senior Notes due 2022
Debt Instrument [Line Items]
Debt interest rate		4.875%
Debt premium		$ 17,000,000
Loss on extinguishment of debt		$ 18,600,000
Accelerated amortization of non-lender fees								$ 1,600,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) derivative	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) derivative	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) derivative	Jun. 30, 2015 EUR (€)
4.50% Senior Notes due September 2023
Derivative [Line Items]
Debt interest rate	4.50%		4.50%
Foreign currency forward contracts
Derivative [Line Items]
Decrease in translated value	$ (9.1)		$ (9.1)		$ (2.1)
Foreign currency forward contracts | Designated as hedging instruments
Derivative [Line Items]
Maximum original maturity of foreign currency forward contracts			12 months
Net unrealized (loss) gain related to cash flow hedging activities	$ 3.1	$ 2	$ 4.9	$ 5.4
Estimate of net unrealized derivative gains included in AOCI to be reclassified into earnings in next twelve months			$ 6.5
Foreign currency forward contracts | Derivatives not designated as hedging instruments
Derivative [Line Items]
Maximum original maturity of foreign currency forward contracts			12 months
Interest rate swaps
Derivative [Line Items]
Number of derivative instruments outstanding | derivative	0		0		0
EUR - Denominated debt | Net investment hedge | 4.50% Senior Notes due September 2023
Derivative [Line Items]
Debt instrument aggregate principal | €						€ 400,000,000
Debt interest rate						4.50%
EUR - Denominated debt | Designated as hedging instruments | Net investment hedge
Derivative [Line Items]
Decrease in translated value	$ 57.3		$ 57.3
Decrease in translated value net after tax	$ 43		$ 43

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) € in Millions, $ in Millions	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Dec. 31, 2021 USD ($)
Derivatives not designated as hedging instruments:
Total Derivative Assets	$ 10.2		$ 3.7
Total Derivative Liabilities	(1.1)		(1.6)
Net Derivatives	9.1		2.1
Long-term debt	3,235.7		3,219.6
Foreign currency forward contracts
Derivatives not designated as hedging instruments:
Total Derivative Assets	10.2		3.7
Total Derivative Liabilities	(1.1)		(1.6)
Designated as hedging instruments | Foreign currency forward contracts
Derivatives not designated as hedging instruments:
Long-term debt	392	€ 400	451.9
Designated as hedging instruments | Cash Flow Hedge
Derivatives not designated as hedging instruments:
Total Derivative Assets	7.4		2
Total Derivative Liabilities	0		(0.6)
Net Derivatives	7.4		1.4
Designated as hedging instruments | Cash Flow Hedge | Foreign currency forward contracts
Derivatives not designated as hedging instruments:
Total Derivative Assets	7.4		2
Total Derivative Liabilities	0		(0.6)
Non-Designated as Hedging Instruments
Derivatives not designated as hedging instruments:
Total Derivative Assets	2.8		1.7
Total Derivative Liabilities	(1.1)		(1)
Net Derivatives	1.7		0.7
Non-Designated as Hedging Instruments | Foreign currency forward contracts
Derivatives not designated as hedging instruments:
Total Derivative Assets	2.8		1.7
Total Derivative Liabilities	$ (1.1)		$ (1)

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Offsetting Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Offsetting Assets [Line Items]
Gross position	$ 10.2	$ 3.7
Net amounts recognized on the Condensed Consolidated Balance Sheets	9.4	2.8
Other Current Assets
Offsetting Assets [Line Items]
Gross position	10.2	3.7
Impact of master netting agreements	$ (0.8)	$ (0.9)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Offsetting Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Offsetting Liabilities [Line Items]
Gross position	$ (1.1)	$ (1.6)
Net amounts recognized on the Condensed Consolidated Balance Sheets	(0.3)	(0.7)
Other Current Liabilities
Offsetting Liabilities [Line Items]
Gross position	(1.1)	(1.6)
Impact of master netting agreements	$ 0.8	$ 0.9

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Effect of Derivative Instruments on Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 4.8	$ 1.5	$ 11.3	$ 3
Derivatives not designated as hedging instruments | Foreign currency forward contracts
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	1.7	0.6	3.8	6.2
Cash Flow Hedge | Derivatives designated as hedging instruments
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	3.1	0.9	7.5	(3.2)
Cash Flow Hedge | Derivatives designated as hedging instruments | Foreign currency forward contracts
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	3.1	0.9	7.4	(3.3)
Cash Flow Hedge | Derivatives designated as hedging instruments | Treasury locks
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 0	$ 0	$ 0.1	$ 0.1

Fair Value Measurements, Equi_3

Fair Value Measurements, Equity Investments and Other Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 39.4	$ 290
Foreign currency forward contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial and hedging instruments net asset	9.1	2.1
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	39.4	290
Level 1 | Foreign currency forward contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial and hedging instruments net asset	0	0
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 2 | Foreign currency forward contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial and hedging instruments net asset	9.1	2.1
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 3 | Foreign currency forward contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial and hedging instruments net asset	$ 0	$ 0

Fair Value Measurements, Equi_4

Fair Value Measurements, Equity Investments and Other Financial Instruments - Schedule of Equity Investment Without Readily Determinable Fair Value (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Dec. 31, 2021
Equity Securities without Readily Determinable Fair Value [Roll Forward]
Carrying value at the beginning of period			$ 45.8	$ 25.4
Purchases			0	14.7
Impairments or downward adjustments	$ (16.1)		(31.6)	0
Upward adjustments		$ 6.6	0	6.6
Currency translation on investments			(1.9)	(0.9)
Carrying value at the end of period			$ 12.3	$ 45.8

Fair Value Measurements, Equi_5

Fair Value Measurements, Equity Investments and Other Financial Instruments - Equity Investment Without Readily Determinable Fair Value Narrative (Details) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2020 USD ($) investment	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2018 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investment fair value				$ 25.4	$ 12.3		$ 45.8
Additional investment				$ 5.7	2.6	$ 16
Upward adjustments			$ 6.6		0		6.6
Impairments or downward adjustments	$ 16.1				31.6		0
Number of investments | investment				1
Cumulative upward adjustment					21.7		21.7
Cumulative downward adjustment					31.6		0
Cumulative adjustment, net					$ 9.9
Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity investment fair value	$ 0						31.6
Additional investment							$ 9	$ 7.5
Upward adjustments				$ 15.1
Impairments or downward adjustments		$ 15.5

Fair Value Measurements, Equi_6

Fair Value Measurements, Equity Investments and Other Financial Instruments - Carrying Amounts and Estimated Fair Values of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 29, 2021
Senior Notes due April 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	5.25%
Senior Notes due September 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	4.50%
Senior Notes due December 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	5.125%
Senior Notes due September 2025
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	5.50%
Senior Secured Notes due October 2026
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	1.573%		1.573%
Senior Notes due December 2027
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	4%
Senior Notes due April 2029
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	5%
Senior Notes due July 2033
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	6.875%
Carrying Amount
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other foreign borrowings	$ 2.4	$ 1.3
Other domestic borrowings	7.9	6.7
Total debt	3,613.3	3,679.3
Carrying Amount | Senior Notes due April 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	0	423.8
Carrying Amount | Senior Notes due September 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	392	451.9
Carrying Amount | Senior Notes due December 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	423.3	422.8
Carrying Amount | Senior Notes due September 2025
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	398.6	398.2
Carrying Amount | Senior Secured Notes due October 2026
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	595.7	595
Carrying Amount | Senior Notes due December 2027
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	421.8	421.4
Carrying Amount | Senior Notes due April 2029
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	421.1	0
Carrying Amount | Senior Notes due July 2033
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	446.4	446.2
Carrying Amount | Term Loan A due August 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term Loan A Facility	0	474.9
Carrying Amount | Term Loan A due July 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term Loan A Facility	0	37.1
Carrying Amount | Term Loan A due March 2027
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	504.1	0
Fair Value
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other foreign borrowings	2.4	1.3
Other domestic borrowings	7.9	6.7
Total debt	3,383.9	3,937.1
Fair Value | Senior Notes due April 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	0	441.9
Fair Value | Senior Notes due September 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	392	479.1
Fair Value | Senior Notes due December 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	411.2	455.8
Fair Value | Senior Notes due September 2025
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	385.3	443.3
Fair Value | Senior Secured Notes due October 2026
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	504.4	581.3
Fair Value | Senior Notes due December 2027
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	367.3	443.8
Fair Value | Senior Notes due April 2029
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	381.2	0
Fair Value | Senior Notes due July 2033
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	428.1	571.9
Fair Value | Term Loan A due August 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term Loan A Facility	0	474.9
Fair Value | Term Loan A due July 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Term Loan A Facility	0	37.1
Fair Value | Term Loan A due March 2027
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes	$ 504.1	$ 0

Defined Benefit Pension Plans_3

Defined Benefit Pension Plans and Other Post-Employment Benefit Plans - Components of Net Periodic Benefit Cost (Income) for Defined Benefit Pension Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Components of net periodic benefit (income) cost:
Service cost	$ 1.2	$ 1.3	$ 3.5	$ 4
Interest cost	3.9	3.1	12	9.2
Expected return on plan assets	(7.2)	(6.9)	(21.7)	(20.6)
Amortization of net prior service cost	0.1	0.1	0.2	0.2
Amortization of net actuarial loss	1.5	2	4.2	5.8
Net periodic (income) cost	(0.5)	(0.4)	(1.8)	(1.4)
Settlement (credit) cost	0	0.5	(0.1)	0.7
Total benefit (income) cost	(0.5)	0.1	(1.9)	(0.7)
U.S.
Components of net periodic benefit (income) cost:
Service cost	0.1	0	0.1	0.1
Interest cost	1	0.9	3.1	2.6
Expected return on plan assets	(2.2)	(2.3)	(6.7)	(6.7)
Amortization of net prior service cost	0	0	0	0
Amortization of net actuarial loss	0.5	0.6	1.3	1.8
Net periodic (income) cost	(0.6)	(0.8)	(2.2)	(2.2)
Settlement (credit) cost	0	0	0	0
Total benefit (income) cost	(0.6)	(0.8)	(2.2)	(2.2)
International
Components of net periodic benefit (income) cost:
Service cost	1.1	1.3	3.4	3.9
Interest cost	2.9	2.2	8.9	6.6
Expected return on plan assets	(5)	(4.6)	(15)	(13.9)
Amortization of net prior service cost	0.1	0.1	0.2	0.2
Amortization of net actuarial loss	1	1.4	2.9	4
Net periodic (income) cost	0.1	0.4	0.4	0.8
Settlement (credit) cost	0	0.5	(0.1)	0.7
Total benefit (income) cost	$ 0.1	$ 0.9	$ 0.3	$ 1.5

Defined Benefit Pension Plans_4

Defined Benefit Pension Plans and Other Post-Employment Benefit Plans - Net Period Benefit Costs (Income) for Post-retirement Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 3.9	$ 3.1	$ 12	$ 9.2
Amortization of net prior service credit	0.1	0.1	0.2	0.2
Amortization of net actuarial gain	1.5	2	4.2	5.8
Net periodic (income) cost	(0.5)	(0.4)	(1.8)	(1.4)
Other employee benefit plans
Defined Benefit Plan Disclosure [Line Items]
Interest cost	0.2	0.1	0.6	0.4
Amortization of net prior service credit	0	0	(0.2)	(0.2)
Amortization of net actuarial gain	(0.1)	0	(0.1)	(0.1)
Net periodic (income) cost	$ 0.1	$ 0.1	$ 0.3	$ 0.1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	27.90%	30.20%	27.90%	31.30%
Increase in unrecognized tax benefits	$ 3.8	$ 6.5	$ 12.7	$ 14.4
Settlement agreement (as defined therein) with taxing authority					$ 1,490
Decrease in U.S. federal tax liability					$ 525

Commitments and Contingencies d

Commitments and Contingencies d (Details) $ in Millions	Sep. 09, 2022 USD ($)	Jul. 13, 2020 investment	Feb. 03, 2014 USD ($) shares	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Tax settlement deductions under examination					$ 1,490
Decrease in U.S. federal tax liability					$ 525
UA Local 13 & Employers Group Insurance Fund, Class Action
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of plaintiffs | investment		4
Litigation settlement amount	$ 12.5
Insurance receivable				$ 12.5
Litigation liability				$ 12.5
William Russell Grace Asbestos PI Trust and William Russell Grace Asbestos PD Trust
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Original number of shares expected to be issued under settlement agreement adjusted | shares			18,000,000
North American Foam Trays and Absorbent Pads
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business			$ 929.7

Stockholders' Equity - Repurcha

Stockholders' Equity - Repurchase of Common Stock (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Aug. 02, 2021	May 31, 2018	Mar. 31, 2017	Jul. 31, 2015
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 1,000		$ 1,500	$ 1,500
Stock repurchase program, remaining authorizations	$ 616.4		$ 616.4
Number of shares repurchased (in shares)	614,190	527,058	4,527,887	6,585,112
Value of shares repurchased	$ 30	$ 29.9	$ 280.1	$ 327.7
Shares acquired, average price per share (in usd per share)	$ 48.81	$ 56.75	$ 61.86	$ 49.77
Common Stock
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)				35,100
Value of shares repurchased				$ 1.6
New Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount						$ 1,000

Stockholders' Equity - Dividend

Stockholders' Equity - Dividends (Details) - USD ($) $ / shares in Units, $ in Millions						3 Months Ended		9 Months Ended
	Oct. 18, 2022	Aug. 16, 2022	May 26, 2022	Mar. 25, 2022	Feb. 25, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Dividends Payable [Line Items]
Quarterly cash dividend (in dollars per share)		$ 0.20	$ 0.20		$ 0.20	$ 0.20	$ 0.20	$ 0.60	$ 0.56
Amount of quarterly cash dividend declared		$ 29	$ 29.2	$ 29.4
Subsequent Event
Dividends Payable [Line Items]
Quarterly cash dividend (in dollars per share)	$ 0.20

Stockholders' Equity - Share-ba

Stockholders' Equity - Share-based Compensation Omnibus Incentive Plan (Details) - 2014 Omnibus Incentive Plan - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2018	May 22, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of shares of common stock authorized (in shares)			4,250,000
Additional shares added by amended plan (in shares)	2,999,054	2,199,114

Stockholders' Equity - Total Sh

Stockholders' Equity - Total Share-based Incentive Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity [Abstract]
Total share-based incentive compensation expense	$ 12.7	$ 10.6	$ 41.3	$ 34.4

Stockholders' Equity - PSU Awar

Stockholders' Equity - PSU Awards (Details) - shares	1 Months Ended	3 Months Ended	9 Months Ended
	Feb. 28, 2022	Mar. 31, 2022	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Period in the beginning of each year to award PSU's		90 days
Performance period		3 years
Cumulative average growth rate period		3 years
2022 Three Year Performance Share Units Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
PSU awards performance period		3 years
Weighted average return on total shareholders, EBITDA		50%
Weighted average net sales compound average growth rate on capital		50%
Achievement of each performance metric upward or downward, percentage adjustment (up to), based on results of total shareholder return modifier		25%
Shareholder return in the top quartile of the comparator group increases overall achievement of performance metrics, percentage		25%
Shareholder return in the top quartile of the comparator group decrease overall achievement of performance metrics, percentage		25%
2022 Three Year Performance Share Units Awards | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares to be issued as percentage of target shares under performance incentive plan		0%
2022 Three Year Performance Share Units Awards | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares to be issued as percentage of target shares under performance incentive plan		250%
2019 Three Year PSU Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
PSU awards performance period			3 years
2019- 2021 Three Year PSU Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares to be issued as percentage of target shares under performance incentive plan	132.50%
Shares to be issued under performance incentive plan (in shares)	274,296
Shares withheld for tax (in shares)	110,529
Shares designated as cash settlement awards (in shares)	2,478
Shares issued (in shares)	161,289

Stockholders' Equity - Number o

Stockholders' Equity - Number of PSUs Granted and Grant Date Fair Value of PSUs (Details) - $ / shares	Mar. 01, 2022	Feb. 24, 2022
Adjusted EBITDA CAGR
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted (in shares)	16,766	72,308
Fair value on grant date (per unit) (in usd per share)	$ 69.71	$ 70.92
ROIC
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted (in shares)	16,766	72,308
Fair value on grant date (per unit) (in usd per share)	$ 69.71	$ 70.92

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Assumptions Used to Calculate the Grant Date Fair Value (Details) - Performance Shares	Mar. 01, 2022	Feb. 24, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected price volatility	37.70%	37.40%
Risk-free interest rate	1.50%	1.70%

Stockholders' Equity - Chief Op

Stockholders' Equity - Chief Operating Officer (COO) and Chief Executive Officer-Designate 2017 New Hire Equity Awards (Details)			1 Months Ended
	Dec. 10, 2020 shares	Sep. 18, 2017 award $ / shares shares	Oct. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of new-hire equity awards granted | award		2
Performance-vesting New Hire Awards | Chief Operating Officer and Chief Executive Officer-Designate
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted (in shares) | shares	35,000	70,000
Performance-vesting New Hire Awards | Chief Operating Officer and Chief Executive Officer-Designate | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting rights, percentage			0%
Performance-vesting New Hire Awards | Chief Operating Officer and Chief Executive Officer-Designate | Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cumulative stockholder return rate, percent		33%
Performance-vesting New Hire Awards | Chief Operating Officer and Chief Executive Officer-Designate | Tranche One | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share price (in usd per share) | $ / shares		$ 60
Performance-vesting New Hire Awards | Chief Operating Officer and Chief Executive Officer-Designate | Tranche Two | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share price (in usd per share) | $ / shares		$ 75
Restricted Stock Units | Chief Operating Officer and Chief Executive Officer-Designate
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted (in shares) | shares	35,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Details of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 248.7
Other comprehensive (loss) income before reclassifications			(92.8)	$ (11.1)
Less: amounts reclassified from accumulated other comprehensive loss	$ (1.2)	$ 1.4	(2.8)	7
Other comprehensive (loss) income	(67.2)	(22.8)	(95.6)	(4.1)
Ending balance	218.2		218.2
Unrecognized Pension Items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(137.5)	(172.5)
Other comprehensive (loss) income before reclassifications			0	(1.6)
Less: amounts reclassified from accumulated other comprehensive loss			3	4.8
Other comprehensive (loss) income			3	3.2
Ending balance	(134.5)	(169.3)	(134.5)	(169.3)
Cumulative Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(760.5)	(721.7)
Other comprehensive (loss) income before reclassifications			(149)	(33.4)
Less: amounts reclassified from accumulated other comprehensive loss			0	0
Other comprehensive (loss) income			(149)	(33.4)
Ending balance	(909.5)	(755.1)	(909.5)	(755.1)
Cumulative Translation Adjustment | Intra-entity transactions
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Intra-entity currency translation adjustments in AOCI	(55.4)	(19.4)	(55.4)	(19.4)
Unrecognized (Losses) Gains on Derivative Instruments | Net investment hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(38.3)	(67.5)
Other comprehensive (loss) income before reclassifications			45.4	21
Less: amounts reclassified from accumulated other comprehensive loss			0	0
Other comprehensive (loss) income			45.4	21
Ending balance	7.1	(46.5)	7.1	(46.5)
Unrecognized (Losses) Gains on Derivative Instruments | Cash Flow Hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			2.4	(1.8)
Other comprehensive (loss) income before reclassifications			10.8	2.9
Less: amounts reclassified from accumulated other comprehensive loss			(5.8)	2.2
Other comprehensive (loss) income			5	5.1
Ending balance	7.4	3.3	7.4	3.3
Accumulated Other Comprehensive Loss, Net of  Taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(933.9)	(963.5)
Ending balance	$ (1,029.5)	$ (967.6)	$ (1,029.5)	$ (967.6)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Detail of Amount Reclassified from AOCL (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income Loss [Line Items]
Other expense, net	$ (3.1)	$ (4.5)	$ (47.4)	$ (3.9)
Cost of sales	966.8	1,003	2,887.1	2,796.8
Total pre-tax amount	(184)	(154.4)	(550.1)	(469.2)
Tax benefit (expense)	51.4	46.6	153.5	147
Net of tax	(132.6)	(107.8)	(396.6)	(322.2)
Total reclassifications for the period	1.2	(1.4)	2.8	(7)
Defined benefit pension plans and other post-employment benefits
Accumulated Other Comprehensive Income Loss [Line Items]
Total reclassifications for the period			(3)	(4.8)
Reclassification out of Accumulated Other Comprehensive Income | Net settlement (cost) credit
Accumulated Other Comprehensive Income Loss [Line Items]
Other expense, net	0	(0.5)	0.1	(0.7)
Reclassification out of Accumulated Other Comprehensive Income | Prior service cost
Accumulated Other Comprehensive Income Loss [Line Items]
Other expense, net	(0.1)	(0.1)	0	0
Reclassification out of Accumulated Other Comprehensive Income | Actuarial losses
Accumulated Other Comprehensive Income Loss [Line Items]
Other expense, net	(1.4)	(2)	(4.1)	(5.7)
Reclassification out of Accumulated Other Comprehensive Income | Defined benefit pension plans and other post-employment benefits
Accumulated Other Comprehensive Income Loss [Line Items]
Total pre-tax amount	(1.5)	(2.6)	(4)	(6.4)
Tax benefit (expense)	0.4	0.6	1	1.6
Net of tax	(1.1)	(2)	(3)	(4.8)
Reclassification out of Accumulated Other Comprehensive Income | Net (losses) gains on cash flow hedging derivatives
Accumulated Other Comprehensive Income Loss [Line Items]
Total pre-tax amount	3.1	0.9	7.5	(3.2)
Tax benefit (expense)	(0.8)	(0.3)	(1.7)	1
Net of tax	2.3	0.6	5.8	(2.2)
Reclassification out of Accumulated Other Comprehensive Income | Net (losses) gains on cash flow hedging derivatives | Foreign currency forward contracts
Accumulated Other Comprehensive Income Loss [Line Items]
Cost of sales	3.1	0.9	7.4	(3.3)
Reclassification out of Accumulated Other Comprehensive Income | Net (losses) gains on cash flow hedging derivatives | Treasury locks
Accumulated Other Comprehensive Income Loss [Line Items]
Interest expense, net	$ 0	$ 0	$ 0.1	$ 0.1

Other Expense, net (Details)

Other Expense, net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Income and Expenses [Abstract]
Net foreign exchange transaction loss	$ (0.2)	$ (0.5)	$ (0.9)	$ (0.5)
Bank fee expense	(1.4)	(1)	(4)	(3.4)
Pension income other than service costs	0.7	0.7	3.3	3.3
Fair value gain/impairment (loss) on equity investments	0	6.6	(31.6)	6.6
Foreign currency exchange loss due to highly inflationary economies	(2.2)	(0.9)	(5.9)	(2.9)
Loss on debt redemption and refinancing activities	0	(14.7)	(11.2)	(14.7)
Other income	1.6	6.7	8	11.7
Other expense	(1.6)	(1.4)	(5.1)	(4)
Other expense, net	(3.1)	(4.5)	(47.4)	(3.9)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other income	$ 1.6	6.7	$ 8	$ 11.7
Income Tax Receivable
Other Income and Expenses [Abstract]
Other income		5
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other income		$ 5

Net Earnings Per Common Share_2

Net Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net earnings	$ 134.2	$ 107.7	$ 397.3	$ 325.9
Distributed and allocated undistributed net earnings to unvested restricted stockholders	0	0	0	0
Net earnings available to common stockholders	$ 134.2	$ 107.7	$ 397.3	$ 325.9
Denominator:
Weighted average number of common shares outstanding - basic (in shares)	145.2	149.9	146.3	151.8
Basic net earnings per common share:
Basic net earnings per common share (in dollars per share)	$ 0.92	$ 0.72	$ 2.72	$ 2.15
Numerator:
Net earnings available to common stockholders	$ 134.2	$ 107.7	$ 397.3	$ 325.9
Denominator:
Weighted average number of common shares outstanding - basic (in shares)	145.2	149.9	146.3	151.8
Effect of unvested restricted stock units (in shares)	1.4	1.5	1.5	1.4
Weighted average number of common shares outstanding - diluted under treasury stock (in shares)	146.6	151.4	147.8	153.2
Diluted net earnings per common share (in dollars per share)	$ 0.92	$ 0.71	$ 2.69	$ 2.13

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Subsequent Event | LB Holdco, Inc. | Forecast
Subsequent Event [Line Items]
Acquisition purchase price	$ 1,150