Sealed Air (SEE) 10-K 27 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 15, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 5,738,424,861
Entity Common Stock, Shares Outstanding		144,493,719
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0001012100
Document Financial Statement Error Correction [Flag]	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Charlotte, North Carolina
Auditor Firm ID	238

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 346.1	$ 456.1
Trade receivables, net of allowance for credit losses of $14.9 in 2023 and $11.5 in 2022	442.6	592.4
Income tax receivables	44.9	40.3
Other receivables	94.2	91.5
Advances and deposits (Note 19)	72.8	12.7
Inventories, net of inventory reserves of $43.3 in 2023 and $28.9 in 2022 (Note 7)	774.3	866.3
Prepaid expenses and other current assets	188.4	57.5
Total current assets	1,963.3	2,116.8
Property and equipment, net (Note 8)	1,416.4	1,275.9
Goodwill (Note 9)	2,892.5	2,174.5
Identifiable intangible assets, net (Note 9)	439	138.4
Deferred taxes	130.8	141.5
Operating lease right-of-use-assets (Note 4)	86.5	70.2
Other non-current assets	272.1	297.4
Total assets	7,200.6	6,214.7
Current liabilities:
Short-term borrowings (Note 14)	140.7	6.6
Current portion of long-term debt (Note 14)	35.7	434
Current portion of operating lease liabilities (Note 4)	29.2	24
Accounts payable	764.6	865.6
Accrued restructuring costs (Note 12)	23.1	14.7
Income tax payable	28.7	19.9
Other current liabilities (Note 13)	487	717
Total current liabilities	1,509	2,081.8
Long-term debt, less current portion (Note 14)	4,513.9	3,237.9
Long-term operating lease liabilities, less current portion (Note 4)	66.7	49.6
Deferred taxes	35.8	33.4
Other non-current liabilities (Note 13)	525.7	467.9
Total liabilities	6,651.1	5,870.6
Commitments and contingencies (Note 20)
Stockholders’ equity:
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2023 and 2022	0	0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 154,054,011 in 2023 and 233,233,456 in 2022; shares outstanding: 144,467,719 in 2023 and 144,672,113 in 2022 (Note 21)	15.4	23.3
Additional paid-in capital	1,429.5	2,155.3
Retained earnings	496.5	3,163.4
Common stock in treasury, 9,586,292 shares in 2023 and 88,561,343 shares in 2022 (Note 21)	(436.4)	(4,019.1)
Accumulated other comprehensive loss, net of taxes:
Unrecognized pension items	(146.4)	(126.3)
Cumulative translation adjustment	(770.6)	(837.5)
Unrealized net loss on net investment hedges	(38.1)	(18.3)
Unrealized net (loss) gain on cash flow hedges	(0.4)	3.3
Total accumulated other comprehensive loss, net of taxes (Note 22)	(955.5)	(978.8)
Total stockholders’ equity	549.5	344.1
Total liabilities and stockholders’ equity	$ 7,200.6	$ 6,214.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 14.9	$ 11.5
Inventory reserves	$ 43.3	$ 28.9
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)	154,054,011	233,233,456
Common stock, shares outstanding (in shares)	144,467,719	144,672,113
Common stock in treasury, shares (in shares)	9,586,292	88,561,343

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 5,488.9	$ 5,641.9	$ 5,533.8
Cost of sales	3,847.6	3,869	3,852.9
Gross profit	1,641.3	1,772.9	1,680.9
Selling, general and administrative expenses	759.1	786.2	772.4
(Loss) Gain on disposal and sale of businesses and property and equipment, net	(49.3)	6.3	45.7
Amortization expense of intangible assets	62.7	36.1	38.8
Restructuring charges (Note 12)	15.6	12.1	14.5
Operating profit	754.6	944.8	900.9
Interest expense, net	(263)	(162.3)	(167.8)
Other expense, net (Note 23)	(61.9)	(53.2)	(16.9)
Earnings before income tax provision	429.7	729.3	716.2
Income tax provision (Note 19)	90.4	238	225
Net earnings from continuing operations	339.3	491.3	491.2
Gain on sale of discontinued operations, net of tax	2.3	0.3	15.6
Net earnings	$ 341.6	$ 491.6	$ 506.8
Basic:
Continuing operations (in dollars per share)	$ 2.35	$ 3.37	$ 3.26
Discontinued operations (in dollars per share)	0.02	0	0.10
Net earnings per common share - basic (in dollars per share)	2.37	3.37	3.36
Diluted:
Continuing operations (in dollars per share)	2.34	3.33	3.22
Discontinued operations (in dollars per share)	0.02	0	0.10
Net earnings per common share - diluted (in dollars per share)	$ 2.36	$ 3.33	$ 3.32
Weighted average number of common shares outstanding in millions: (Note 24)
Basic (in shares)	144.4	145.9	150.9
Diluted (in shares)	144.9	147.4	152.4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 341.6	$ 491.6	$ 506.8
Gross
Unrecognized pension items	(24.9)	14.2	47.7
Unrealized (losses) gains on derivative instruments for net investment hedge	(26.4)	26.6	38.9
Unrealized (losses) gains on derivative instruments for cash flow hedge	(5.1)	1.3	5.8
Foreign currency translation adjustments	66.9	(77)	(38.8)
Other comprehensive income (loss)	10.5	(34.9)	53.6
Taxes
Unrecognized pension items	4.8	(3)	(12.7)
Unrealized (losses) gains on derivative instruments for net investment hedge	6.6	(6.6)	(9.7)
Unrealized (losses) gains on derivative instruments for cash flow hedge	1.4	(0.4)	(1.6)
Foreign currency translation adjustments	0	0	0
Other comprehensive income (loss)	12.8	(10)	(24)
Net
Unrecognized pension items	(20.1)	11.2	35
Unrealized (losses) gains on derivative instruments for net investment hedge	(19.8)	20	29.2
Unrealized (losses) gains on derivative instruments for cash flow hedge	(3.7)	0.9	4.2
Foreign currency translation adjustments	66.9	(77)	(38.8)
Other comprehensive income (loss)	23.3	(44.9)	29.6
Comprehensive income, net of taxes	$ 364.9	$ 446.7	$ 536.4

Consolidated Statements of Stoc

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
Beginning Balance 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	30.2		30.2
Stock issued for profit sharing contribution paid in stock	28		0.2		27.8
Repurchases of common stock	(401.6)				(401.6)
Unrecognized pension items, net of taxes	35					35
Foreign currency translation adjustments	(38.8)					(38.8)
Unrealized gain (loss) on derivative instruments, net of taxes	33.4					33.4
Net earnings	506.8			506.8
Dividends on common stock	(116.8)			(116.8)
Ending Balance 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	25.1	0.1	25
Stock issued for profit sharing contribution paid in stock	22.7		6.9		15.8
Repurchases of common stock	(280.2)				(280.2)
Unrecognized pension items, net of taxes	11.2					11.2
Foreign currency translation adjustments	(77)					(77)
Unrealized gain (loss) on derivative instruments, net of taxes	20.9					20.9
Net earnings	491.6			491.6
Dividends on common stock	(118.9)			(118.9)
Ending Balance at Dec. 31, 2022	344.1	23.3	2,155.3	3,163.4	(4,019.1)	(978.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Effect of share-based incentive compensation	12.8	0.1	12.7
Retirement of treasury shares		(8)	(739.4)	(2,892.4)	3,639.8
Stock issued for profit sharing contribution paid in stock	23.9		0.9		23
Repurchases of common stock	(80.1)				(80.1)
Unrecognized pension items, net of taxes	(20.1)					(20.1)
Foreign currency translation adjustments	66.9					66.9
Unrealized gain (loss) on derivative instruments, net of taxes	(23.5)					(23.5)
Net earnings	341.6			341.6
Dividends on common stock	(116.1)			(116.1)
Ending Balance at Dec. 31, 2023	$ 549.5	$ 15.4	$ 1,429.5	$ 496.5	$ (436.4)	$ (955.5)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends per share on common stock (in dollars per share)	$ 0.80	$ 0.80	$ 0.76

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net earnings	$ 341.6	$ 491.6	$ 506.8
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	233.4	184.6	186.4
Share-based incentive compensation	33	50.5	43.5
Profit sharing expense	25.4	23.5	22.4
Loss on debt redemption and refinancing activities	13.2	11.2	18.6
Impairment of debt investment	0	0	8
Provision for allowance for credit losses on trade receivables	3.1	6.2	2.1
Provisions for inventory obsolescence	18.3	19.8	9.5
Deferred taxes, net	(27.8)	(29.7)	37.3
Net loss (gain) on disposal/sale of businesses	52.5	(0.7)	(59.3)
Impairment loss/fair value (gain) on equity investments, net	0	30.6	(6.6)
Other non-cash items	25.2	9.8	9.4
Changes in operating assets and liabilities:
Trade receivables, net	73.4	2.6	(110.9)
Inventories	136	(178.5)	(165.7)
Income tax receivable/payable	(0.4)	(13.6)	45.7
Accounts payable	(122.8)	(72.1)	206.1
Customer advance payments	(15.4)	1.4	15.1
Income tax deposit	195	0	0
Other assets and liabilities	(77.5)	76.1	(58.7)
Net cash provided by operating activities	516.2	613.3	709.7
Cash flows from investing activities:
Capital expenditures	(244.2)	(237.3)	(213.1)
Proceeds related to sale of businesses and property and equipment, net	10.2	9.4	89.4
Businesses acquired in purchase transactions, net of cash acquired	(1,160.7)	(9.6)	(0.1)
Proceeds (Payments) associated with debt, equity, and equity method investments, net	2.8	(10.6)	(18)
Proceeds of corporate owned life insurance	0	0	7.7
Net cash used in investing activities	(1,378.2)	(243)	(125.7)
Cash flows from financing activities:
Net proceeds (payments) of short-term borrowings	131.6	5.5	(5.9)
Proceeds from long-term debt	1,833.4	423.3	601.5
Payments of long-term debt	(958.4)	(425)	(610.4)
Dividends paid on common stock	(117.9)	(118.5)	(115.6)
Repurchases of common stock	(79.9)	(280.2)	(403.1)
Payments for debt modification/extinguishment costs and other	(22.3)	(15.2)	(17)
Impact of tax withholding on share-based compensation	(21.8)	(26.6)	(14.8)
Principal payments related to financing leases	(9)	(10)	(10.5)
Net cash provided by (used in) financing activities	755.7	(446.7)	(575.8)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(3.7)	(28.5)	4.1
Cash Reconciliation:
Cash and cash equivalents	456.1	561	548.7
Restricted cash and cash equivalents	0	0	0
Balance, beginning of period	456.1	561	548.7
Net change during the period	(110)	(104.9)	12.3
Balance, end of period	346.1	456.1	561
Restricted cash and cash equivalents	0	0	0
Supplemental Cash Flow Information:
Interest payments, net of amounts capitalized	265.2	174.5	175.2
Income tax payments, net of cash refunds	357.7	192.2	112.6
Restructuring payments including associated costs	19.2	21.5	27.7
Non-cash items:
Transfers of shares of common stock from treasury for profit-sharing plan contributions	23.9	22.7	28
Cross-currency swaps
Cash flows from investing activities:
Proceeds from cross currency swaps and settlement of foreign currency forward contracts	1.6	0	0
Foreign currency forward contracts
Cash flows from investing activities:
Proceeds from cross currency swaps and settlement of foreign currency forward contracts	$ 12.1	$ 5.1	$ 8.4

Organization and Nature of Oper

Organization and Nature of Operations	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations We are a leading global provider of packaging solutions that integrate sustainable, high-performance materials, automation, equipment, and services. Sealed Air Corporation designs, manufactures and delivers packaging solutions that preserve food, protect goods, and automate packaging processes. 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 and liquids, medical and life science, e-commerce retail, logistics and omnichannel fulfillment operations, and industrials. Our portfolio of solutions includes CRYOVAC ® brand food packaging, LIQUIBOX ® brand liquids systems, SEALED AIR ® brand protective packaging, AUTOBAG ® brand automated packaging systems and BUBBLE WRAP ® brand packaging. We have established competitive strengths in high-performance packaging solutions, well-established customer relationships, iconic brands, and global scale and market access. 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Recently Adopted and Issued Accounting Standards	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Recently Adopted and Issued Accounting Standards	Summary of Significant Accounting Policies and Recently Adopted and Issued Accounting Standards Summary of Significant Accounting Policies Basis of Presentation Our 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. Some prior period amounts have been reclassified to conform to the current year presentation. These reclassifications, individually and in the aggregate, did not have a material impact on our consolidated financial condition, results of operations or cash flows. All amounts are U.S. dollar-denominated in millions, except per share amounts and unless otherwise noted, and are approximate due to rounding. When we cross reference to a “Note,” we are referring to our “Notes to Consolidated Financial Statements,” unless the context indicates otherwise. Use of Estimates The preparation of our Consolidated Financial Statements and related disclosures in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the period reported. These estimates include, among other items, assessing the expected credit losses of receivables, asset retirement obligations, the use and recoverability of inventory, the estimation of fair value of financial instruments, assumptions used in the calculation of income taxes, useful lives and recoverability of tangible assets and goodwill and other intangible assets, assumptions used in our defined benefit pension plans and other post-employment benefit plans, estimates related to self-insurance such as the aggregate liability for uninsured claims using historical experience, insurance and actuarial estimates and estimated trends in claim values, fair value measurement of assets, costs for incentive compensation, and accruals for commitments and contingencies. We review these estimates and assumptions periodically using historical experience and other factors and reflect the effects of any revisions in the Consolidated Financial Statements in the period we determine any revisions to be necessary. Actual results could differ from these estimates. Financial Instruments We may use financial instruments, such as cross-currency swaps, interest rate swaps, caps and collars, U.S. Treasury lock agreements and foreign currency exchange forward contracts and options related to our borrowing and trade activities. We may use these financial instruments from time to time to manage our exposure to fluctuations in interest rates and foreign currency exchange rates. We do not purchase, hold or sell derivative financial instruments for trading purposes. We face credit risk if the counterparties to these transactions are unable to perform their obligations. Our policy is to have counterparties to these contracts that have at least an investment grade rating. We report derivative instruments at fair value and establish criteria for designation and effectiveness of transactions entered into for hedging purposes. Before entering into any derivative transaction, we identify our specific financial risk, the appropriate hedging instrument to use to reduce this risk, and the correlation between the financial risk and the hedging instrument. We use forecasts and historical data as the basis for determining the anticipated values of the transactions to be hedged. We do not enter into derivative transactions that do not have a high correlation with the underlying financial risk we are trying to reduce. We regularly review our hedge positions and the correlation between the transaction risks and the hedging instruments. We account for derivative instruments as hedges of the related underlying risks if we designate these derivative instruments as hedges and the derivative instruments are effective as hedges of recognized assets or liabilities, forecasted transactions, unrecognized firm commitments or forecasted intercompany transactions. We record gains and losses on derivatives qualifying as cash flow hedges in AOCL, to the extent that hedges are effective and until the underlying transactions are recognized on the Consolidated Statements of Operations, at which time we also recognize the gains or losses of the derivatives on the Consolidated Statements of Operations. We recognize gains and losses on qualifying fair value hedges and the related loss or gain on the hedged item attributable to the hedged risk on the Consolidated Statements of Operations. Generally, 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. Any deferred gains or losses associated with derivative instruments are recognized on the Consolidated Statements of Operations over the period in which the income or expense on the underlying hedged transaction is recognized. See Note 15, “Derivatives and Hedging Activities,” for further details. Foreign Currency Translation In non-U.S. locations that are not considered highly inflationary, we translate the balance sheets at the end of period exchange rates with translation adjustments accumulated in stockholders’ equity on our Consolidated Balance Sheets. We translate the statements of operations at the average exchange rates during the applicable period. We translate assets and liabilities of our operations in countries with highly inflationary economies at the end of period exchange rates, except that nonmonetary asset and liability amounts are translated at historical exchange rates. In countries with highly inflationary economies, we translate items reflected in the Consolidated Statements of Operations at average rates of exchange prevailing during the period, except that nonmonetary amounts are translated at historical exchange rates. Impact of Highly Inflationary Economy: Argentina Economic and political events in Argentina have continued to expose us to heightened levels of foreign currency exchange risk. As of July 1, 2018, Argentina was designated as a highly inflationary economy under U.S. GAAP, and the U.S. dollar replaced the Argentine peso as the functional currency for our subsidiaries in Argentina. All Argentine peso-denominated monetary assets and liabilities were remeasured into U.S. dollars using the current exchange rate available to us. The impact of any changes in the exchange rate are reflected in within Other expense, net on the Consolidated Statements of Operations. For the years ended December 31, 2023, 2022 and 2021, the Company recorded remeasurement losses of $23.1 million, $8.9 million, and $3.6 million, respectively related to our subsidiaries in Argentina. The exchange rate as of December 31, 2023, 2022 and 2021 was 808.0, 176.8 and 102.7, respectively. We will continue to evaluate each reporting period the appropriate exchange rate to remeasure our financial statements based on the facts and circumstances as applicable. Commitments and Contingencies — Litigation On an ongoing basis, we assess the potential liabilities related to any lawsuits or claims brought against us. While it is typically very difficult to determine the timing and ultimate outcome of these actions, we use our best judgment to determine if it is probable that we will incur an expense related to the settlement or final adjudication of these matters and whether a reasonable estimation of the probable loss, if any, can be made. In assessing probable losses, we make estimates of the amount of insurance recoveries, if any. We accrue a liability when we believe a loss is probable and the amount of loss can be reasonably estimated. Due to the inherent uncertainties related to the eventual outcome of litigation and potential insurance recovery, it is possible that disputed matters may be resolved for amounts materially different from any provisions or disclosures that we have previously made. We expense legal costs, including those legal costs expected to be incurred in connection with a loss contingency, as incurred. Revenue Recognition Revenue from contracts with customers is recognized using a five-step model consisting of the following: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the Company satisfies a performance obligation. (1) Identify Contract with Customer: For SEE, the determination of whether an arrangement meets the definition of a contract under ASC 606 (“Topic 606”) depends on whether it creates enforceable rights and obligations. While enforceability is a matter of law, we believe that enforceable rights and obligations in a contract must be substantive in order for the contract to be in scope of Topic 606. That is, the penalty for noncompliance must be significant relative to the minimum obligation. Fixed or minimum purchase obligations with penalties for noncompliance are the most common examples of substantive enforceable rights present in our contracts. We determined that the contract term is the period of enforceability outlined by the terms of the contract. This means that in many cases, the term stated in the contract is different than the period of enforceability. After the minimum purchase obligation is met, subsequent sales are treated as separate contracts on a purchase order by purchase order basis. If no minimum purchase obligation exists, the next level of enforceability is determined, which often represents the individual purchase orders and the agreed upon terms. The customer’s ability and intent to pay the transaction price is assessed in determining whether a contract exists with the customer. If collectability of substantially all of the consideration in a contract is not probable, consideration received is not recognized as revenue unless the consideration is nonrefundable and the Company no longer has an obligation to transfer additional goods or services to the customer or collectability becomes probable. (2) Identify the Performance Obligations in the Contract: The most common goods and services determined to be distinct performance obligations are materials, equipment sales, and maintenance. Free on loan and leased equipment is typically identified as a separate lease component within the scope of ASC 842. The other goods or services promised in the contract with the customer in most cases do not represent performance obligations because they are neither separate nor distinct, or they are not material in the context of the contract. Performance obligations are satisfied when the Company transfers control of a good or service to a customer, which can occur over time or at a point in time. The amount of revenue recognized is based on the consideration to which the Company expects to be entitled in exchange for those goods or services, including the expected value of variable consideration. (3) Determine the Transaction Price: SEE has many forms of variable consideration present in its contracts with customers, including rebates and other discounts. SEE estimates variable consideration using either the expected value method or the most likely amount method as described in the standard. We include in the transaction price some or all of an amount of variable consideration estimated to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. For all contracts that contain a form of variable consideration, SEE estimates at contract inception, and periodically throughout the term of the contract, what volume of goods and/or services the customer will purchase in a given period and determines how much consideration is payable to the customer or how much consideration we would be able to recover from the customer based on the structure of the type of variable consideration. In most cases the variable consideration in contracts with customers results in amounts payable to the customer by SEE. We adjust the contract transaction price based on any changes in estimates each reporting period and record an inception to date cumulative adjustment to the amount of revenue previously recognized. When the contract with a customer contains a minimum purchase obligation, SEE only has enforceable rights to the amount of consideration promised in the minimum purchase obligation through the enforceable term of the contract. This amount of consideration, plus any variable consideration, makes up the transaction price for the contract. 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. When we estimate our rebate accruals, we consider customer-specific contractual commitments including stated rebate rates and history of actual rebates paid. Our rebate accruals are reviewed at each reporting period and adjusted to reflect data available at that time. We adjust the accruals to reflect any differences between estimated and actual amounts. These adjustments of transaction price impact the amount of net sales recognized by us in the period of adjustment. The Company expects the time between when a good or service is transferred to a customer and when the customer pays for that good or service to be one year or less for the vast majority of the Company’s contracts. In this instance the Company does not adjust consideration for a significant financing component. Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales on the Consolidated Statements of Operations. (4) Allocate the Transaction Price to the Performance Obligations in the Contract: We determine the standalone selling price for a performance obligation by first looking for observable selling prices of that performance obligation sold on a standalone basis. If an observable price is not available, we estimate the standalone selling price of the performance obligation using one of the three suggested methods in the following order of preference: adjusted market assessment approach, expected cost plus a margin approach, and residual approach. SEE often offers rebates to customers in their contracts that are related to the amount of materials purchased. We believe that this form of variable consideration should only be allocated to materials because the entire amount of variable consideration relates to the customer’s purchase of and our efforts to provide materials. Additionally, Sealed Air has many contracts that have pricing tied to third-party indices. We believe that variability from index-based pricing should be allocated specifically to materials because the pricing formulas in these contracts are related to the cost to produce materials. (5) Recognize Revenue when (or as) the Company satisfies a performance obligation Revenue is recognized upon transfer of control to the customer. Revenue for materials and equipment sales is recognized based on shipping terms, which is the point in time the customer obtains control of the promised goods. Maintenance revenue is recognized straight-line on the basis that the level of effort is consistent over the term of the contract. Lease components within contracts with customers are recognized in accordance with ASC 842. Refer to Note 3, “Revenue Recognition, Contracts with Customers,” for further discussion of revenue. Costs to obtain or fulfill a Contract and Shipping and Handling Costs The Company recognizes incremental costs to obtain a contract as an expense when incurred if the amortization period of the asset that otherwise would have been recognized is one year or less. For example, the Company generally expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within Selling, general and administrative expenses on the Consolidated Statements of Operations. Costs for shipping and handling activities performed after a customer obtains control of a good are accounted for as costs to fulfill a contract and are included in Cost of sales. Research and Development We expense research and development costs as incurred. Research and development costs were $96.9 million in 2023, $102.5 million in 2022 and $99.8 million in 2021. Share-Based Incentive Compensation At the 2014 Annual Meeting, the 2014 Omnibus Incentive Plan (the “Omnibus Plan”) was approved by our stockholders. Subsequently, the Board of Directors adopted, and at the Annual Stockholders' meetings in both 2018 and 2021, our stockholders approved, amendments and restatements to the 2014 Omnibus Incentive Plan. See Note 21, “Stockholders’ Equity,” for further information on this plan. We record share-based compensation awards exchanged for employee services at fair value on the date of grant and record the expense for these awards in Cost of sales and in Selling, general and administrative expenses, as applicable, on our Consolidated Statements of Operations over the requisite employee service period. Our annual grant cycle occurs after our year-end financial results have been released. We consider the impact that material, non-public information may have on the fair value of our share-based incentive awards. As of December 31, 2023, there are no outstanding awards with values that have been adjusted in light of material, non-public information. Share-based incentive compensation expense, which includes an estimate for forfeitures and a factor for anticipated achievement levels, is generally recognized over the expected term of the award on a straight-line basis. The Company accelerates expense on performance-based awards using a graded vesting schedule for employees who meet retirement eligibility requirements prior to the end of the award’s service period. For performance-based awards, the Company reassesses at each reporting date whether achievement of the performance condition is probable and accrues compensation expense if and when achievement of the performance condition is probable. For performance awards with market-based conditions, the fair value of the award is determined at the grant date and is recognized at 100% over the performance period regardless of actual market condition performance in accordance with ASC 718. Income Taxes We file a consolidated U.S. federal income tax return and our non-U.S. subsidiaries file income tax returns in their respective local jurisdictions. We provide for income taxes on those portions of our foreign subsidiaries’ accumulated earnings that we believe are not reinvested indefinitely in our businesses. We account for income taxes under the asset and liability method to provide for income taxes on all transactions recorded in the Consolidated Financial Statements. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax benefit carryforwards. We determine deferred tax assets and liabilities at the end of each period using enacted tax rates. In assessing the need for a valuation allowance, we estimate future reversals of existing temporary differences, future taxable earnings, and also consider the feasibility of ongoing planning strategies, taxable income in carryback periods and past operating results to determine which deferred tax assets are more likely than not to be realized in the future. Changes to tax laws, statutory tax rates and future taxable earnings can impact valuation allowances related to deferred tax assets. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are measured based on the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon settlement with tax authorities. We recognize interest and penalties related to unrecognized tax benefits in Income tax provision on our Consolidated Statements of Operations. See Note 19, “Income Taxes,” for further discussion. Cash and Cash Equivalents We consider highly liquid investments with original maturities of 90 days or less to be cash equivalents. Our policy is to invest cash in excess of short-term operating and debt service requirements in cash equivalents. Cash equivalents are stated at cost, which approximates fair value because of the short-term maturity of the instruments. Our policy is to transact with counterparties that are rated at least A- by Standard & Poor’s and A3 by Moody’s. Some of our operations are located in countries that are rated below A- or A3. In this case, we try to minimize our risk by holding cash and cash equivalents at financial institutions with which we have existing global relationships whenever possible, diversifying counterparty exposures and minimizing the amount held by each counterparty and within the country in total. Time deposits or certificate of deposits with maturities greater than 90 days from the time of purchase are considered marketable securities and classified within Prepaid expenses and other current assets in our Consolidated Balance Sheets. Any investments made in longer-term time deposits or maturities and conversion out of the longer-term time deposits during the current year are reflected as cash flows from investing activities on our Consolidated Statements of Cash Flows. Accounts Receivable Securitization Programs 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 an indirectly 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 undivided 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 pledge of collateral and will be classified as Short-term borrowings on our 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 Consolidated Balance Sheets. We have a European accounts receivable securitization program with a special purpose vehicle ("SPV"), two banks, issuers of commercial paper administered by these banks, and a group of our European subsidiaries. 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 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 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 Consolidated Balance Sheets. See Note 10, “Accounts Receivable Securitization Programs,” for further details. Accounts Receivable Factoring Agreements The Company has entered into factoring agreements and customers' supply chain financing arrangements to sell certain trade receivables to unrelated third-party financial institutions. These programs are entered into in the normal course of business. We account for these transactions in accordance with ASC Topic 860. ASC Topic 860 allows for the ownership transfer of accounts receivable to qualify for true-sale treatment when the appropriate criteria is met, which permits the balances sold under the program to be excluded from Trade receivables, net on the Consolidated Balance Sheets. Receivables are considered sold when (i) they are transferred beyond the reach of the Company and its creditors, (ii) the purchaser has the right to pledge or exchange the receivables, and (iii) the Company has no continuing involvement in the transferred receivables. In addition, the Company provides no other forms of continued financial support to the purchaser of the receivables once the receivables are sold. See Note 11, “Accounts Receivable Factoring Agreements,” for further details. Trade Receivables, Net In the normal course of business, we extend credit to customers that satisfy predefined credit criteria. Trade receivables, which are included on the Consolidated Balance Sheets, are stated at amounts due from our customers net of allowances for expected credit losses. Allowance for Credit Losses We are exposed to credit losses primarily through our sales of packaging solutions to third-party customers. Our customers' (the counterparty) ability to pay is assessed through our internal credit review processes. Based on the dollar value of credit extended, we assess our customers' credit by reviewing the total expected receivable exposure, expected timing of payments and the customers' established credit ratings. In determining customer creditworthiness, we assess our customers' credit utilizing different resources including external credit validations and/or our own assessment through analysis of the customers' financial statements and review of trade/bank references. We also consider contract terms and conditions, country and political risk, and the customers' mix of products purchased (for example: equipment vs. materials) in our evaluation. A credit limit is established for each customer based on the outcome of this review. Credit limits are reviewed at least annually for existing customers. We monitor our ongoing credit exposure through active review of counterparty balances against contract terms and due dates. Our activities are performed at both the country/entity level as well as the regional level. Monitoring and review activities include account reconciliations, analysis of aged receivables, resolution status review for disputed amounts, and identification and remediation of counterparties experiencing payment issues. Our management reviews current credit exposure at least quarterly based on level of risk and amount of exposure. When necessary, we utilize collection agencies and legal counsel to pursue recovery of defaulted receivables. Trade receivable balances are written off when deemed to be uncollectible and after collection efforts have been exhausted. Our annual historical credit losses have been approximately 0.1%, or less, of net trade sales annually over the last three years. Our allowance for credit losses on trade receivables is assessed at the end of each quarter based on an analysis of historical losses and our assessment of future expected losses. For the years ended December 31, 2023, 2022 and 2021, $3.1 million, $6.2 million and $2.1 million, respectively, was charged to our allowance for credit losses related to our trade receivables. Supply Chain Financing Arrangements We facilitate a voluntary supply chain financing program to provide some of our suppliers with the opportunity to sell receivables due from us (our accounts payables) to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. These programs are administered by participating financial institutions. When a supplier utilizes the supply chain financing program, the supplier receives a payment in advance of agreed payment terms from the financial institution, net of a discount charged. Our responsibility is limited to making payments to the respective financial institutions on the terms originally negotiated with our supplier. The range of payment terms is consistent regardless of a vendor's participation in the program. We monitor our days payable outstanding relative to our peers and industry trends in order to assess our conclusion that these programs continue to be trade payable programs and not indicative of borrowing arrangements. The liabilities continue to be presented as Accounts payable in our Consolidated Balance Sheets until they are paid, and they are reflected as cash flows from operating activities when settled. Equity Investments We maintain strategic investments in other companies. As of December 31, 2023, these investments qualified and are accounted for under the measurement alternative described in ASC 321 for equity investments that do not have readily determinable fair values. These investments are measured at cost, less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. We do not exercise significant influence over these companies. These investments are carried on our Consolidated Balance Sheets within Other non-current assets. Changes in fair value based on impairment or resulting from observable price changes are recorded in earnings and included within Other expense, net on the Consolidated Statements of Operations. See Note 16, “Fair Value Measurements, Equity Investments and Other Financial Instruments,” for further details. Inventories, Net Our inventories are determined using the FIFO method or a weighted average for some raw materials. We state inventories at the lower of cost or net realizable value. Costs related to inventories include raw materials, direct labor and manufacturing overhead which are included in Cost of sales on the Consolidated Statements of Operations. Property and Equipment, Net We state property and equipment at cost, except for property and equipment that have been impaired, for which we reduce the carrying amount to the estimated fair value at the impairment date. We capitalize significant improvements and charge repairs and maintenance costs that do not extend the lives of the assets to expense as incurred. We remove the cost and accumulated depreciation of assets sold or otherwise disposed of from the accounts and recognize any resulting gain or loss upon the disposition of the assets. We depreciate the cost of property and equipment over their estimated useful lives on a straight-line basis as follows: buildings, including leasehold improvements — 10 to 40 years; machinery and equipment — 5 to 10 years; and other property and equipment — 2 to 10 years. Leases SEE is involved in leasing activity as both a lessee and a lessor. SEE is the lessor primarily for equipment used by our customers to meet their packaging needs. SEE is the lessee of property used for production and for sales and administrative functions, including real property, buildings, manufacturing and office equipment, offices and automobiles. We recognize a right-of-use (“ROU”) asset and lease liability for all leases with terms of more than 12 months, in accordance with ASC 842. We utilize the short-term lease recognition exemption for all asset classes as part of our ongoing accounting under ASC 842. This means, for those leases that qualify, we will not recognize ROU assets or lease liabilities. Recogniti

Revenue Recognition, Contracts

Revenue Recognition, Contracts with Customers	12 Months Ended
	Dec. 31, 2023
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. As discussed in Note 6, “Segments,” our reporting segments are Food and Protective. Our Food solutions are largely sold directly to end customers, while our Protective solutions 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 protein, fluids and liquids and cheese 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 enable 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, CRYOVAC ® brand Auto Pouch Systems and LIQUIBOX ® brand liquids systems. 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™, 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 e-commerce, 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 e-commerce/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. 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 $3.1 million, $0.1 million and $4.3 million, for the years ended December 31, 2023, 2022 and 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 ASC Topic 842. Disaggregated Revenue For the years ended December 31, 2023, 2022 and 2021, revenues from contracts with customers summarized by Segment and Geographic region were as follows: Year Ended December 31, 2023 (In millions) Food Protective Total Americas $ 2,297.8 $ 1,238.7 $ 3,536.5 EMEA 711.1 434.4 1,145.5 APAC 467.6 290.4 758.0 Topic 606 Segment Revenue 3,476.5 1,963.5 5,440.0 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 43.2 5.7 48.9 Total $ 3,519.7 $ 1,969.2 $ 5,488.9 Year Ended December 31, 2022 (In millions) Food Protective Total Americas $ 2,170.9 $ 1,521.1 $ 3,692.0 EMEA 682.7 473.4 1,156.1 APAC 436.9 323.5 760.4 Topic 606 Segment Revenue 3,290.5 2,318.0 5,608.5 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 26.7 6.7 33.4 Total $ 3,317.2 $ 2,324.7 $ 5,641.9 Year Ended December 31, 2021 (In millions) Food Protective Total Americas $ 1,948.9 $ 1,542.8 $ 3,491.7 EMEA 681.4 515.3 1,196.7 APAC 449.5 356.9 806.4 Topic 606 Segment Revenue 3,079.8 2,415.0 5,494.8 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 33.0 6.0 39.0 Total $ 3,112.8 $ 2,421.0 $ 5,533.8 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 Consolidated Balance Sheets as of December 31, 2023 and 2022: December 31, (In millions) 2023 2022 Contract assets $ 0.4 $ 0.5 Contract liabilities $ 19.9 $ 18.2 The contract liability balances represent deferred revenue, primarily related to equipment accruals. Revenue recognized in the years ended December 31, 2023, 2022 and 2021, that was included in the contract liability balance at the beginning of the period was $12.3 million, $11.9 million, and $15.4 million, 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 December 31, 2023 and 2022, as well as the expected timing of recognition of that transaction price. December 31, (In millions) 2023 2022 Short-Term (12 months or less) (1) $ 13.3 $ 13.0 Long-Term 6.6 5.2 Total transaction price $ 19.9 $ 18.2 (1) Our enforceable contractual obligations tend to be short term in nature. The table above does not include the transaction price of any remaining performance obligations that are part of the contracts with expected durations of one year or less.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023 and 2022 were as follows: December 31, (In millions) 2023 2022 Short-Term (12 months or less) $ 8.5 $ 6.5 Long-Term 33.3 18.6 Lease receivables $ 41.8 $ 25.1 Sales-type and operating lease revenue was less than 1% of net trade sales for each of the years ended December 31, 2023, 2022, and 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 Consolidated Balance Sheets. December 31, (In millions) 2023 2022 Other non-current assets: Finance leases - ROU assets $ 36.0 $ 55.0 Finance leases - Accumulated depreciation (14.9) (31.7) Operating lease right-of-use-assets: Operating leases - ROU assets 203.1 156.7 Operating leases - Accumulated depreciation (116.6) (86.5) Total lease assets $ 107.6 $ 93.5 Current portion of long-term debt: Finance leases $ (6.7) $ (7.6) Current portion of operating lease liabilities: Operating leases (29.2) (24.0) Long-term debt, less current portion: Finance leases (12.8) (16.1) Long-term operating lease liabilities, less current portion: Operating leases (66.7) (49.6) Total lease liabilities $ (115.4) $ (97.3) At December 31, 2023, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows: (In millions) Finance leases Operating leases 2024 $ 8.1 $ 33.3 2025 5.0 26.8 2026 3.1 20.8 2027 1.5 11.8 2028 0.8 7.0 Thereafter 8.0 9.0 Total lease payments 26.5 108.7 Less: Interest (7.0) (12.8) Present value of lease liabilities $ 19.5 $ 95.9 The following lease cost is included in our Consolidated Statements of Operations: December 31, (In millions) 2023 2022 Lease cost (1) Finance leases Amortization of ROU assets $ 10.0 $ 10.5 Interest on lease liabilities 1.8 1.3 Operating leases 37.5 33.2 Short-term lease cost 3.5 2.7 Variable lease cost 6.6 7.0 Total lease cost $ 59.4 $ 54.7 (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 Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities is recorded to Interest expense, net on the Consolidated Statements of Operations. The following table details cash paid related to operating and finance leases included in our Consolidated Statements of Cash Flows and new ROU assets included in our Consolidated Balance Sheets: December 31, (In millions) 2023 2022 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - finance leases $ 4.3 $ 5.4 Operating cash flows - operating leases $ 37.7 $ 30.6 Financing cash flows - finance leases $ 9.0 $ 10.0 ROU assets obtained in exchange for new finance lease liabilities $ 16.7 $ 8.8 ROU assets obtained in exchange for new operating lease liabilities $ 49.9 $ 34.4 December 31, 2023 2022 Weighted average information: Finance leases Remaining lease term (in years) 6.4 6.1 Discount rate 7.4 % 4.9 % Operating leases Remaining lease term (in years) 4.1 4.2 Discount rate 5.8 % 4.8 %
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 December 31, 2023 and 2022 were as follows: December 31, (In millions) 2023 2022 Short-Term (12 months or less) $ 8.5 $ 6.5 Long-Term 33.3 18.6 Lease receivables $ 41.8 $ 25.1 Sales-type and operating lease revenue was less than 1% of net trade sales for each of the years ended December 31, 2023, 2022, and 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 Consolidated Balance Sheets. December 31, (In millions) 2023 2022 Other non-current assets: Finance leases - ROU assets $ 36.0 $ 55.0 Finance leases - Accumulated depreciation (14.9) (31.7) Operating lease right-of-use-assets: Operating leases - ROU assets 203.1 156.7 Operating leases - Accumulated depreciation (116.6) (86.5) Total lease assets $ 107.6 $ 93.5 Current portion of long-term debt: Finance leases $ (6.7) $ (7.6) Current portion of operating lease liabilities: Operating leases (29.2) (24.0) Long-term debt, less current portion: Finance leases (12.8) (16.1) Long-term operating lease liabilities, less current portion: Operating leases (66.7) (49.6) Total lease liabilities $ (115.4) $ (97.3) At December 31, 2023, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows: (In millions) Finance leases Operating leases 2024 $ 8.1 $ 33.3 2025 5.0 26.8 2026 3.1 20.8 2027 1.5 11.8 2028 0.8 7.0 Thereafter 8.0 9.0 Total lease payments 26.5 108.7 Less: Interest (7.0) (12.8) Present value of lease liabilities $ 19.5 $ 95.9 The following lease cost is included in our Consolidated Statements of Operations: December 31, (In millions) 2023 2022 Lease cost (1) Finance leases Amortization of ROU assets $ 10.0 $ 10.5 Interest on lease liabilities 1.8 1.3 Operating leases 37.5 33.2 Short-term lease cost 3.5 2.7 Variable lease cost 6.6 7.0 Total lease cost $ 59.4 $ 54.7 (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 Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities is recorded to Interest expense, net on the Consolidated Statements of Operations. The following table details cash paid related to operating and finance leases included in our Consolidated Statements of Cash Flows and new ROU assets included in our Consolidated Balance Sheets: December 31, (In millions) 2023 2022 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - finance leases $ 4.3 $ 5.4 Operating cash flows - operating leases $ 37.7 $ 30.6 Financing cash flows - finance leases $ 9.0 $ 10.0 ROU assets obtained in exchange for new finance lease liabilities $ 16.7 $ 8.8 ROU assets obtained in exchange for new operating lease liabilities $ 49.9 $ 34.4 December 31, 2023 2022 Weighted average information: Finance leases Remaining lease term (in years) 6.4 6.1 Discount rate 7.4 % 4.9 % Operating leases Remaining lease term (in years) 4.1 4.2 Discount rate 5.8 % 4.8 %

Acquisition and Divestiture Act

Acquisition and Divestiture Activity	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition and Divestiture Activity	Acquisition and Divestiture Activity LB Holdco, Inc. Acquisition On February 1, 2023, SEE acquired 100% of the outstanding shares of capital stock of LB Holdco, Inc., the parent company of Liquibox, Inc. (collectively, "Liquibox"), a pioneer, innovator and manufacturer of Bag-in-Box liquids packaging and dispensing solutions for food, beverage, consumer goods and industrial end markets. The acquisition is included in our Food reporting segment. Consideration paid was approximately $1.17 billion in cash, subject to customary adjustments. We financed the consideration paid and related fees and expenses through borrowings under our senior secured credit facility, proceeds from the issuance of senior notes, and cash on hand. See Note 14, "Debt and Credit Facilities," for additional details. For the years ended December 31, 2023 and 2022, acquisition related expenses recognized for the Liquibox acquisition were $12.0 million and $7.0 million, respectively. These expenses are included within Selling, general and administrative expenses in the Consolidated Statements of Operations. The following table summarizes the consideration transferred to acquire Liquibox and the allocation of the purchase price among the assets acquired and liabilities assumed, including measurement period adjustments recorded through the finalized purchase price allocation on December 31, 2023. Preliminary Allocation Measurement Period Final Allocation (In millions) As of February 1, 2023 Adjustments December 31, 2023 Total consideration transferred $ 1,169.2 $ (2.1) $ 1,167.1 Assets acquired: Cash and cash equivalents 21.2 — 21.2 Trade receivables 48.6 (0.8) 47.8 Inventories 61.6 (2.8) 58.8 Prepaid expenses and other current assets 15.8 (1.7) 14.1 Property and equipment 101.1 (8.2) 92.9 Identifiable intangible assets 342.1 4.2 346.3 Operating lease right-of-use-assets 15.1 — 15.1 Other non-current assets 9.5 (1.5) 8.0 Total assets acquired $ 615.0 $ (10.8) $ 604.2 Liabilities assumed: Accounts payable 27.0 (1.4) 25.6 Current portion of long-term debt 0.1 — 0.1 Current portion of operating lease liabilities 3.7 — 3.7 Other current liabilities 28.4 2.8 31.2 Long-term debt, less current portion 5.1 — 5.1 Long-term operating lease liabilities, less current portion 11.4 — 11.4 Deferred taxes 92.2 (35.1) 57.1 Other non-current liabilities 6.6 (4.2) 2.4 Total liabilities assumed $ 174.5 $ (37.9) $ 136.6 Net assets acquired 440.5 27.1 467.6 Goodwill $ 728.7 $ (29.2) $ 699.5 The following table summarizes the identifiable intangible assets and their useful lives. Amount Useful life (In millions) (In years) Customer relationships $ 186.4 11.0 Trademarks and tradenames 26.0 10.0 Software 3.7 2.0 Technology 130.2 12.0 Total intangible assets with definite lives $ 346.3 Goodwill is a result of the synergies that are expected to originate from the combination of Cryovac and Liquibox solutions for the Company, as well as growth of our sustainable packaging portfolio. This goodwill is not deductible for tax purposes. The goodwill balance associated with Liquibox is included in the Food reportable segment. Liquibox Supplemental Information The following table presents the amounts of net sales and net earnings attributed to Liquibox since the acquisition date that are included in our Consolidated Statements of Operations for the year ended December 31, 2023: (In millions) February 1, 2023 through December 31, 2023 Net sales $ 284.3 Net earnings $ 2.6 Pro Forma Financial Information The following table presents the Company’s unaudited pro forma financial information for the years ended December 31, 2023 and 2022, assuming the acquisition of Liquibox had occurred on January 1, 2022. The information below reflects pro forma adjustments based on available information and certain assumptions that SEE believes are factual and supportable. The unaudited pro forma information is not necessarily indicative of the results that might have occurred had the transaction actually taken place on January 1, 2022 and is not intended to be a projection of future results and gives no effect to any future synergistic benefits that may result from the combination or the costs of integrating the acquired operations with those of the Company. Year Ended December 31, (In millions) 2023 2022 Net sales $ 5,514.5 $ 6,003.4 Net earnings $ 351.2 $ 380.2 The unaudited pro forma financial information includes, where applicable, adjustments for (i) additional expense from the fair value step-up of inventory, (ii) additional amortization expense related to acquired intangible assets, (iii) additional depreciation expense related to acquired property and equipment, (iv) transaction costs and other one-time non-recurring costs, (v) additional interest expense for borrowings related to the acquisition and amortization associated with fair value adjustments of debt assumed, and (vi) associated tax-related impacts of adjustments. Other 2023 Acquisition Activity During the second quarter of 2023, Food had other acquisition activity resulting in a total purchase price paid of $14.9 million. The Company allocated the consideration transferred to the fair value of assets acquired, resulting in an allocation to goodwill of $7.9 million. In the third quarter of 2023, the final purchase price adjustments resulted in an insignificant decrease to goodwill. This goodwill is not deductible for tax purposes. There were no other identifiable intangible assets acquired. This acquisition activity is expected to supplement our developmental efforts for sustainable packaging and accelerate our speed to market for certain sustainable solutions. This acquisition activity was not material to our Consolidated Financial Statements. 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 and fourth quarters 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 $5.2 million and an allocation to identifiable intangible assets of $2.7 million. The acquisition is included in our Food reporting segment. This 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. The Foxpak acquisition was not material to our Consolidated Financial Statements. 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 received during the fourth quarter 2021. We recorded a $ 45.3 million 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 Consolidated Statements of Operations. We maintain no ongoing investment or relationship that would result in the sold business becoming a related party.

Segments

Segments	12 Months Ended
	Dec. 31, 2023
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 Consolidated Financial Statements. The following tables show Net sales and Segment Adjusted EBITDA by reportable segment: Year Ended December 31, (In millions) 2023 2022 2021 Net sales Food $ 3,519.7 $ 3,317.2 $ 3,112.8 As a % of Consolidated net sales 64.1 % 58.8 % 56.3 % Protective 1,969.2 2,324.7 2,421.0 As a % of Consolidated net sales 35.9 % 41.2 % 43.7 % Consolidated Net sales $ 5,488.9 $ 5,641.9 $ 5,533.8 Year Ended December 31, (In millions) 2023 2022 2021 Segment Adjusted EBITDA Food $ 775.0 $ 755.1 $ 688.4 Adjusted EBITDA Margin 22.0 % 22.8 % 22.1 % Protective 361.8 465.6 446.2 Adjusted EBITDA Margin 18.4 % 20.0 % 18.4 % Total Segment Adjusted EBITDA $ 1,136.8 $ 1,220.7 $ 1,134.6 The following table shows a reconciliation of Segment Adjusted EBITDA to Earnings before income tax provision: Year Ended December 31, (In millions) 2023 2022 2021 Food Adjusted EBITDA $ 775.0 $ 755.1 $ 688.4 Protective Adjusted EBITDA 361.8 465.6 446.2 Corporate Adjusted EBITDA (30.2) (10.5) (3.0) Interest expense, net (263.0) (162.3) (167.8) Depreciation and amortization, net of adjustments (1) (239.6) (236.8) (232.2) Special Items: Liquibox intangible amortization (2) (27.9) — — Liquibox inventory step-up amortization (10.2) — — Restructuring charges (3) (15.6) (12.1) (14.5) Other restructuring associated costs (4) (34.5) (9.3) (16.5) Foreign currency exchange loss due to highly inflationary economies (23.1) (8.8) (3.6) Loss on debt redemption and refinancing activities (13.2) (11.2) (18.6) Impairment (loss)/fair value gain on equity investments, net — (30.6) 6.6 Impairment of debt investment — — (8.0) Contract terminations (5) (14.6) — — Charges related to acquisition and divestiture activity (28.3) (3.1) (2.6) Gain on sale of Reflectix — — 45.3 CEO severance (6.1) — — Other Special Items (6) (0.8) (6.7) (3.5) Pre-tax impact of Special Items (174.3) (81.8) (15.4) Earnings before income tax provision $ 429.7 $ 729.3 $ 716.2 (1) Net of Liquibox intangible amortization of $27.9 million for the year ended December 31, 2023, which is included under Special Items. Depreciation and amortization by segment were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Food $ 175.7 $ 137.1 $ 129.1 Protective 91.8 99.7 103.1 Total Company depreciation and amortization (i) 267.5 236.8 232.2 Liquibox intangible amortization (2) (27.9) — — Depreciation and amortization, net of adjustments $ 239.6 $ 236.8 $ 232.2 (i) Includes share-based incentive compensation of $34.2 million in 2023, $52.3 million in 2022 and $45.8 million in 2021. (2) As of 2023, the Company is including, within its definition of Special Items, amortization expenses of intangibles from the Liquibox acquisition and future significant acquisitions. (3) Restructuring charges by segment were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Food $ 8.2 $ 8.3 $ 7.2 Protective 7.4 3.8 7.3 Total Company restructuring charges $ 15.6 $ 12.1 $ 14.5 (4) Other restructuring associated costs for the year ended December 31, 2023 primarily consists of impairment of property and equipment and inventory obsolescence charges related to business closure activity. Other restructuring associated costs for the year ended December 31, 2022 primarily relate to fees paid to third-party consultants in support of our Reinvent SEE business transformation and site consolidation costs. (5) Contract terminations for the year ended December 31, 2023 primarily relates to charges associated with business closure activities. (6) Other Special Items for the year ended December 31, 2023 primarily relate to a one-time, non-cash cumulative translation adjustment loss recognized due to the wind-up of one of our legal entities and fees related to professional services, including legal fees, directly associated with Special Items of events that are considered one-time or infrequent in nature, partially offset by a gain on the disposal of a building and land in Brazil and gain associated with a legal settlement. Other Special Items for the years ended December 31, 2022 and 2021 primarily included fees related to professional services, including legal fees, directly associated with Special Items of events that are considered one-time or infrequent in nature. For the year ended December 31, 2022, these fees were partially offset by a one-time gain on the disposal of land in the 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. December 31, (In millions) 2023 2022 Assets allocated to segments: Food $ 3,386.4 $ 2,342.6 Protective 2,663.4 2,795.7 Total segments $ 6,049.8 $ 5,138.3 Assets not allocated: Cash and cash equivalents 346.1 456.1 Income tax receivables 44.9 40.3 Other receivables 94.2 91.5 Advances and deposits 72.8 12.7 Deferred taxes 130.8 141.5 Other 462.0 334.3 Total $ 7,200.6 $ 6,214.7 Geographic Information The following table shows net sales and total long-lived assets allocated by geography. Sales are attributed to the country/region in which they originate. Year Ended December 31, (In millions) 2023 2022 2021 Net sales (1) : Americas (1) $ 3,578.3 $ 3,718.5 $ 3,522.3 EMEA 1,149.3 1,160.0 1,200.0 APAC 761.3 763.4 811.5 Total $ 5,488.9 $ 5,641.9 $ 5,533.8 Total long-lived assets (2) : Americas (2) $ 1,122.4 $ 1,052.1 EMEA 418.6 375.0 APAC 234.0 216.4 Total $ 1,775.0 $ 1,643.5 (1) U.S. net sales were $2,913.6 million, $3,073.0 million and $2,925.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. No non-U.S. country accounted for net sales in excess of 10% of consolidated net sales for the years ended December 31, 2023, 2022 or 2021. Sales are allocated to the country/region based on where each sale originated. (2) Total long-lived assets represent total assets excluding total current assets, deferred tax assets, goodwill, and intangible assets. Total long-lived assets in the U.S. were $1,044.2 million and $977.0 million at December 31, 2023 and 2022, respectively. No non-U.S. country had long-lived assets in excess of 10% of consolidated long-lived assets at December 31, 2023 or 2022.

Inventories, net

Inventories, net	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net The following table details our inventories, net: December 31, (In millions) 2023 2022 Raw materials $ 165.3 $ 229.9 Work in process 178.5 187.1 Finished goods 430.5 449.3 Total $ 774.3 $ 866.3

Property and Equipment, net

Property and Equipment, net	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net The following table details our property and equipment, net. December 31, (In millions) 2023 2022 Land and improvements $ 47.5 $ 44.1 Buildings 835.8 783.1 Machinery and equipment 2,811.5 2,612.3 Other property and equipment 142.0 124.5 Construction-in-progress 227.0 222.4 Property and equipment, gross 4,063.8 3,786.4 Accumulated depreciation and amortization (2,647.4) (2,510.5) Property and equipment, net $ 1,416.4 $ 1,275.9 For the year ended December 31, 2023, we recorded an impairment charge of approximately $25.8 million within (Loss) Gain on disposal and sale of businesses and property and equipment, net on the Consolidated Statements of Operations, related to closure activity of Kevothermal, the plant-based rollstock business and other activities as part of the CTO2Grow Program. See Note 12, "Restructuring Activities," for further details related to the business closure activity. The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment and finance lease ROU assets. Year Ended December 31, (In millions) 2023 2022 2021 Interest cost capitalized $ 13.1 $ 8.9 $ 6.8 Depreciation and amortization expense (1) $ 170.7 $ 148.5 $ 147.6 (1) Includes amortization expense of finance lease ROU assets of $10.0 million, $10.5 million, and $10.6 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Goodwill and Identifiable Intan

Goodwill and Identifiable Intangible Assets, net	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Identifiable Intangible Assets, net	Goodwill and Identifiable Intangible Assets, net Goodwill The following table shows our goodwill balances by reportable segment. 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. The Company performed a quantitative assessment by reporting unit as of October 1, 2023. Based on the results of the quantitative assessment, which indicated a fair value in excess of carrying amount for each of the Company's designated reporting units, we concluded there was no impairment of goodwill. There have been no significant events or circumstances subsequent to the quantitative assessment performed as of October 1, 2023 that have indicated a potential for impairment. 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 (49.3) (140.9) (190.2) Carrying Value at December 31, 2021 $ 527.3 $ 1,662.1 $ 2,189.4 Acquisition (1) 5.2 — 5.2 Currency translation (9.6) (11.0) (20.6) Gross Carrying Value at December 31, 2022 $ 572.2 $ 1,792.0 $ 2,364.2 Accumulated amortization (49.0) (140.7) (189.7) Carrying Value at December 31, 2022 $ 523.2 $ 1,651.3 $ 2,174.5 Acquisition (2) 707.4 — 707.4 Currency translation 4.7 6.1 10.8 Gross Carrying Value at December 31, 2023 $ 1,284.3 $ 1,798.1 $ 3,082.4 Accumulated amortization (3) (49.1) (140.8) (189.9) Carrying Value at December 31, 2023 $ 1,235.2 $ 1,657.3 $ 2,892.5 (1) Represents the allocation of goodwill related to our acquisition of Foxpak. See Note 5, "Acquisition and Divestiture Activity," for further details. (2) Represents amounts allocated to goodwill resulting from acquisitions, primarily for Liquibox. See Note 5, "Acquisition and Divestiture Activity," for further details. (3) The change in accumulated amortization from December 31, 2022 to December 31, 2023 is due to the impact of foreign currency translation. As noted above, it was determined under a quantitative assessment that there was no impairment of goodwill. However, if we become aware of indicators of impairment in future periods, we may be required to perform an interim assessment for some or all of our reporting units before the next annual assessment. Examples of relevant factors we consider on an interim basis may include a decrease in expected net earnings, adverse market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, leadership changes, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more likely than not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of. In the event that significant adverse changes lead to a decrease in the valuation of one or more of our reporting units, we may have to recognize a non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition and results of operations. Identifiable Intangible Assets, net The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of December 31, 2023, there were no impairment indicators present. December 31, 2023 December 31, 2022 (In millions) Gross Accumulated Net Gross Accumulated Net Customer relationships $ 287.7 $ (69.3) $ 218.4 $ 99.5 $ (47.1) $ 52.4 Trademarks and tradenames 57.0 (19.4) 37.6 30.8 (14.4) 16.4 Software 148.2 (112.8) 35.4 147.7 (111.3) 36.4 Technology 197.5 (60.1) 137.4 67.0 (44.3) 22.7 Contracts 11.5 (10.2) 1.3 11.4 (9.8) 1.6 Total intangible assets with definite lives 701.9 (271.8) 430.1 356.4 (226.9) 129.5 Trademarks and tradenames with indefinite lives 8.9 — 8.9 8.9 — 8.9 Total identifiable intangible assets, net $ 710.8 $ (271.8) $ 439.0 $ 365.3 $ (226.9) $ 138.4 The following table shows the estimated future amortization expense at December 31, 2023. Year Amount (In millions) 2024 $ 63.0 2025 56.7 2026 44.5 2027 39.5 2028 39.1 Thereafter 187.3 Total $ 430.1 Amortization expense was $62.7 million in 2023, $36.1 million in 2022 and $38.8 million in 2021. The following table shows the remaining weighted average useful life of our definite lived intangible assets as of December 31, 2023. Remaining weighted average useful lives Customer relationships 9.8 Trademarks and tradenames 8.3 Software 2.1 Technology 10.2 Contracts 3.8 Total identifiable intangible assets, net with definite lives 9.2

Accounts Receivable Securitizat

Accounts Receivable Securitization Programs	12 Months Ended
	Dec. 31, 2023
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 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 Consolidated Balance Sheets. There were $46.5 million and no borrowings or corresponding net trade receivables maintained as collateral as of December 31, 2023 and December 31, 2022, respectively. As of December 31, 2023, 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 December 31, 2023, the amount available to us under the program before utilization was $46.5 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 an 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 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 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 Consolidated Balance Sheets. There were €78.4 million ($86.7 million equivalent at December 31, 2023) and no borrowings or corresponding net trade receivables maintained as collateral as of December 31, 2023 and December 31, 2022, respectively. As of December 31, 2023, the maximum purchase limit for receivable interests was €80.0 million ($88.5 million equivalent at December 31, 2023), subject to availability limits. The terms and provisions of this program are similar to our U.S. program discussed above. As of December 31, 2023, the amount available under this program before utilization was €80.0 million ($88.5 million equivalent at December 31, 2023). This program expires annually and is renewable. Utilization of Our Accounts Receivable Securitization Programs As of December 31, 2023, there were $46.5 million and €78.4 million ($86.7 million equivalent at December 31, 2023) of outstanding borrowings under our U.S. and European programs, respectively. As of December 31, 2022, 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 $6.3 million, $0.4 million and none for the years ended December 31, 2023, 2022 and 2021, respectively. 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 December 31, 2023.

Accounts Receivable Factoring A

Accounts Receivable Factoring Agreements	12 Months Ended
	Dec. 31, 2023
Transfers and Servicing [Abstract]
Accounts Receivable Factoring Agreements	Accounts Receivable Factoring Agreements The Company has entered into factoring agreements and customers' supply chain financing arrangements, to sell certain trade receivables to unrelated third-party financial institutions. These programs are entered into in the normal course of business. We account for these transactions in accordance with ASC Topic 860. ASC Topic 860 allows for the ownership transfer of accounts receivable to qualify for true-sale treatment when the appropriate criteria is met, which permits the balances sold under the program to be excluded from Trade receivables, net on the Consolidated Balance Sheets. Receivables are considered sold when (i) they are transferred beyond the reach of the Company and its creditors, (ii) the purchaser has the right to pledge or exchange the receivables, and (iii) the Company has no continuing involvement in the transferred receivables. In addition, the Company provides no other forms of continued financial support to the purchaser of the receivables once the receivables are sold. Gross amounts factored under this program for the years ended December 31, 2023, 2022 and 2021 were $749.7 million, $658.7 million, and $687.3 million, respectively. The fees associated with transfer of receivables for all programs were approximately $12.3 million, $7.1 million and $4.1 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Restructuring Activities

Restructuring Activities	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Activities	Restructuring Activities In December 2018, the Board of Directors approved our Reinvent SEE business transformation, including the related restructuring program (“Reinvent SEE Program”), which concluded as of the end of calendar year 2022. For the year ended December 31, 2023, restructuring charges and other associated costs related to the Reinvent SEE Program were not material. On August 7, 2023, the Board of Directors approved a new 3-year cost take-out to grow program ("CTO2Grow Program"). The total cash cost of this program is estimated to be in the range of $140 to $160 million. For the year ended December 31, 2023, the Company incurred cash expense including $16.9 million of restructuring charges related to headcount reductions, $14.6 million of costs associated with contract terminations, and $1.7 million of other associated costs in connection with the CTO2Grow Program. For the year ended December 31, 2023, the Company incurred non-cash expense of approximately $32.6 million for other associated costs primarily related to the impairment of property and equipment and inventory obsolescence charges associated with the Kevothermal and plant-based rollstock business closures, and other activities under the CTO2Grow Program. CTO2Grow Program restructuring spend is estimated to be incurred as follows: Total Restructuring Program Range Less Program Activity to Date Remaining Restructuring (In millions) Low High Low High Costs of reduction in headcount as a result of reorganization $ 90 $ 95 $ (17) $ 73 $ 78 Other associated costs 20 25 (1) 19 24 Contract terminations 25 30 (15) 10 15 Total cash expense $ 135 $ 150 $ (33) $ 102 $ 117 Capital expenditures 5 10 — 5 10 Total estimated cash cost (1) $ 140 $ 160 $ (33) $ 107 $ 127 Total estimated non-cash expense (2) $ 33 $ 33 $ (33) $ — $ — Total estimated expense (3) $ 168 $ 183 $ (66) $ 102 $ 117 (1) Total estimated cash cost excludes the impact of proceeds expected from the sale of property and equipment and foreign currency impact. (2) Reflects actual expenses that have been incurred. Ranges associated with future non-cash expenses related to the CTO2Grow Program are difficult to estimate and are not available without unreasonable efforts, as these typically relate to exit and disposal activities. (3) Total estimated expense excludes capital expenditures. The Company also has restructuring programs related to acquisitions. We recorded less than $1 million of expenses related to these programs within Restructuring charges in our Consolidated Statements of Operations during the years ended December 31, 2023, 2022 and 2021. See Note 5, "Acquisition and Divestiture Activity," for additional information related to recent acquisitions. The following table details our aggregate restructuring activities as reflected in the Consolidated Statements of Operations. Year Ended December 31, (In millions) 2023 2022 2021 Other associated costs $ 34.5 $ 9.3 $ 16.5 Contract terminations 14.6 — — Restructuring charges 15.6 12.1 14.5 Total charges $ 64.7 $ 21.4 $ 31.0 Capital expenditures $ 0.4 $ 9.7 $ 8.2 The aggregate restructuring accrual, spending and other activity for the years ended December 31, 2023, 2022 and 2021 and the accrual balance remaining at those year-ends were as follows: (In millions) Restructuring accrual at December 31, 2020 $ 14.3 Accrual and accrual adjustments 14.5 Cash payments during 2021 (16.9) Effect of changes in foreign currency exchange rates (0.6) Restructuring accrual at December 31, 2021 $ 11.3 Accrual and accrual adjustments 12.1 Cash payments during 2022 (8.6) Effect of changes in foreign currency exchange rates (0.1) Restructuring accrual at December 31, 2022 $ 14.7 Headcount accrual and accrual adjustments 15.6 Contract termination accrual and adjustments 11.0 Cash payments during 2023 (17.2) Effect of changes in foreign currency exchange rates 0.2 Restructuring accrual at December 31, 2023 (1) $ 24.3 (1) Excludes $3.7 million of remaining lease obligations on terminated contracts included in Current portion of operating lease liabilities and Long-term operating lease liabilities, less current portion on our Consolidated Balance Sheets. We expect to pay $23.1 million of the accrual balance remaining at December 31, 2023 within the next twelve months. This amount is included in Accrued restructuring costs on the Consolidated Balance Sheets at December 31, 2023. The remaining accrual of $1.2 million is expected to be paid primarily in 2025. These amounts are included in Other non-current liabilities on our Consolidated Balance Sheets at December 31, 2023. The CTO2Grow 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 restructuring accrual of $24.3 million as of December 31, 2023, $16.3 million was attributable to Food and $8.0 million was attributable to Protective. Business Closures In July 2023, the Board of Directors approved a plan to cease operating the Kevothermal temperature assurance business, which resulted in the closure of both the Albuquerque, New Mexico and Hereford, United Kingdom facilities. The decision to cease operations of the Kevothermal business, which is reported in our Protective segment, was triggered by lower volumes and declining financial performance. In September 2023, the Board of Directors approved a plan to cease operating the plant-based rollstock business and line located in Simpsonville, South Carolina. The decision to cease operations for the plant-based rollstock business, which is reported in our Food segment, was triggered by lower demand for our product due to competitive alternatives in the market. We expect to cease full manufacturing operations by March 2024. For the year ended December 31, 2023, we recorded $54.1 million of closure charges as part of the CTO2Grow Program primarily associated with Kevothermal, the plant-based rollstock business, and other activities, which included $25.8 million of impairment related to property and equipment, $14.6 million of contract terminations, $6.6 million of inventory obsolescence charges and $7.1 million of severance and other closure related costs. The closure charges, excluding the severance related costs, are reflected within (Loss) Gain on disposal and sale of businesses and property and equipment, net on the Consolidated Statements of Operations. The severance related charges are reflected in Restructuring charges on the Consolidated Statements of Operations. Of the $54.1 million of closure charges, $32.6 million are non-cash. We expect the majority of the cash charges to be paid in 2024.

Other Current and Non-Current L

Other Current and Non-Current Liabilities	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Other Current and Non-Current Liabilities	Other Current and Non-Current Liabilities The following tables detail our other current liabilities and other non-current liabilities at December 31, 2023 and 2022: December 31, (In millions) 2023 2022 Other current liabilities: Accrued salaries, wages and related costs $ 164.1 $ 188.2 Accrued operating expenses and other 167.6 193.8 Uncertain tax position liability 1.7 201.3 Accrued customer volume rebates 100.9 97.4 Accrued interest 52.7 36.3 Total $ 487.0 $ 717.0 December 31, (In millions) 2023 2022 Other non-current liabilities: Accrued employee benefit liability $ 116.6 $ 102.6 Other postretirement liability 25.8 28.3 Uncertain tax position liability 288.3 264.0 Other various liabilities 95.0 73.0 Total $ 525.7 $ 467.9

Debt and Credit Facilities

Debt and Credit Facilities	12 Months Ended
	Dec. 31, 2023
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: December 31, (In millions) Interest rate 2023 2022 Short-term borrowings (1) $ 140.7 $ 6.6 Current portion of long-term debt (2) 35.7 434.0 Total current debt 176.4 440.6 Term Loan A due March 2027 1,021.1 506.6 Senior Notes due December 2024 5.125 % — 423.5 Senior Notes due September 2025 5.500 % 399.1 398.7 Senior Secured Notes due October 2026 1.573 % 597.0 596.0 Senior Notes due December 2027 4.000 % 422.5 421.9 Senior Notes due February 2028 6.125 % 764.8 — Senior Notes due April 2029 5.000 % 421.7 421.2 Senior Notes due February 2031 7.250 % 420.9 — Senior Notes due July 2033 6.875 % 446.7 446.4 Other (2) 20.1 23.6 Total long-term debt, less current portion (3) 4,513.9 3,237.9 Total debt (4) $ 4,690.3 $ 3,678.5 (1) Short-term borrowings of $140.7 million at December 31, 2023 were comprised of $86.7 million under our European securitization program, $46.5 million under our U.S. securitization program, and $7.5 million from various lines of credit. Short-term borrowings of $6.6 million at December 31, 2022 were from various lines of credit. (2) As of December 31, 2023, Current portion of long-term debt included finance lease liabilities of $ 6.7 million 7.6 million 12.8 million 16.1 million (3) Amounts are shown net of unamortized discounts and issuance costs of $36.9 million and $18.9 million as of December 31, 2023 and 2022, respectively. (4) As of December 31, 2023, our weighted average interest rate on our short-term borrowings outstanding was 5.3% and on our long-term debt outstanding was 5.6%. As of December 31, 2022, our weighted average interest rate on our short-term borrowings outstanding was 2.8% and on our long-term debt outstanding was 4.6%. Debt Maturities The following table summarizes the scheduled annual maturities for the next five years and thereafter of our long-term debt, including the current portion of long-term debt and finance leases. This schedule represents the principal amount outstanding, and therefore excludes debt discounts, the effect of present value discounting for finance lease obligations, interest rate swaps, and lender and finance fees. Year Amount (In millions) 2024 $ 37.1 2025 463.1 2026 661.1 2027 1,348.4 2028 775.7 Thereafter 1,308.0 Total $ 4,593.4 Amended and Restated Senior Secured Credit Facility 2023 Activity On February 1, 2023, the Company used proceeds from the new incremental term facility, as described below, to finance in part the Liquibox acquisition. We incurred $11.0 million of lender and third party fees included in carrying amounts of outstanding debt. See Note 5, "Acquisition and Divestiture Activity," for further details related to the Liquibox acquisition. 2022 Activity On December 8, 2022, the Company and certain of its subsidiaries entered into an amendment and incremental assumption agreement ("the Amendment”) further amending its existing senior secured credit facility (the “Fourth Amended and Restated Credit Agreement”). The Amendment provides for a new incremental term facility in an aggregate principal amount of $650.0 million, to be used, in part, to finance the Company’s acquisition of Liquibox. See Note 5, "Acquisition and Divestiture Activity," for further details related to the Liquibox acquisition. On March 25, 2022, the Company and certain of its subsidiaries entered into 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 LIBOR-based rate to a SOFR-based rate, (iii) improved pricing terms which will range from 100 to 175 basis points 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 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 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 $3.5 million and $1.3 million, included within Interest expense, net on our Consolidated Statements of Operations for the years ended December 31, 2023 and 2022, respectively. Senior Notes 2023 Activity On November 20, 2023, the Company issued $425.0 million aggregate principal amount of 7.250% senior notes due 2031 (the “2031 Notes”). The 2031 Notes will mature on February 15, 2031. Interest is payable on May 15 and November 15 of each year, commencing on May 15, 2024. The 2031 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 capitalized $4.2 million of fees incurred in connection with the 2031 Notes, which are included in Long-term debt, less current portion on our Consolidated Balance Sheets. We may redeem the 2031 Notes, in whole or in part, at any time prior to November 15, 2026, at a redemption price equal to 100% of the principal amount of the 2031 Notes redeemed plus accrued and unpaid interest to, but not including, the redemption date, plus a “make-whole premium”. At any time prior to November 15, 2026, we may redeem up to 40% of the aggregate principal amount of the 2031 Notes with the net cash proceeds of certain equity offerings. The net proceeds from the 2031 Notes offering were used (i) to repurchase all of the Company’s outstanding 5.125% senior notes due 2024 (the "2024 Notes") pursuant to the tender offer commenced by the Company on November 8, 2023 and satisfy and discharge all of the Company's outstanding 2024 Notes in accordance with the terms of the indenture governing the 2024 Notes and to pay related premiums, fees and expenses in connection therewith, and (ii) to the extent of any remaining proceeds after giving effect to the foregoing transaction, for general corporate purposes. The aggregate repurchase price was $433.7 million, which included the principal amount of $425.0 million, a premium of $7.5 million and accrued interest of $1.2 million. We recognized a pre-tax loss of $8.3 million on the extinguishment, including the premium mentioned above and $0.8 million of accelerated amortization of non-lender fees, included within Other expense, net on our Consolidated Statements of Operations during the fourth quarter of 2023. On January 31, 2023, the Company issued $775.0 million aggregate principal amount of 6.125% senior notes due 2028 (the "2028 Notes"). The 2028 Notes will mature on February 1, 2028. Interest is payable on February 1 and August 1 of each year, commencing on August 1, 2023. The 2028 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 capitalized $12.2 million of fees incurred in connection with the 2028 Notes, which are included in Long-term debt, less current portion on our Consolidated Balance Sheets. We may redeem the 2028 Notes, in whole or in part, at any time prior to February 1, 2025, at a redemption price equal to 100% of the principal amount of the 2028 Notes redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date, plus a "make-whole premium". On or after February 1, 2025, we may redeem the 2028 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 February 1, 2025, we may redeem up to 40% of the 2028 Notes using the proceeds of certain equity offerings. The net proceeds from the 2028 Notes offering were used (i) together with a borrowing under the Company’s incremental term loan facility and cash on hand, to finance the acquisition of all of the issued and outstanding shares of capital stock of Liquibox, including related fees and expenses, (ii) to repurchase all of the Company’s outstanding 4.500% senior notes due 2023 (the “2023 Euro Notes”) pursuant to the tender offer commenced by the Company on January 27, 2023 and satisfy and discharge all of the Company’s outstanding 2023 Euro Notes in accordance with the terms of the indenture governing the 2023 Euro Notes and to pay related premiums, fees and expenses in connection therewith and (iii) to the extent of any remaining proceeds after giving effect to the foregoing transactions, for general corporate purposes. We recognized a pre-tax loss of $4.9 million on the repurchase and cancellation of the 2023 Euro Notes, including a premium of $4.5 million and accelerated amortization of non-lender fees of $0.4 million, within Other expense, net on our Consolidated Statements of Operations during the first quarter of 2023. See Note 5, "Acquisition and Divestiture Activity," for further details related to the Liquibox acquisition. 2022 Activity On April 19, 2022, the Company issued $425.0 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 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 Consolidated Statements of Operations during the second quarter of 2022. Senior Secured Notes 2021 Activity On September 29, 2021, the Company 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”), the Company 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 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, 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. Lines of Credit The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including the revolving credit facility, and the amounts available under our accounts receivable securitization programs. December 31, (In millions) 2023 2022 Used lines of credit (1) $ 140.7 $ 6.6 Unused lines of credit 1,134.7 1,261.0 Total available lines of credit (2) $ 1,275.4 $ 1,267.6 (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, $1,135.0 million were committed as of December 31, 2023. 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 December 31, 2023 and 2022.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities We report all derivative instruments on our 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 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 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 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 included in AOCL were a $3.5 million loss, a $0.8 million gain and a $4.5 million gain for the years ended December 31, 2023, 2022 and 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 $1.2 million of net unrealized losses 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 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 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 December 31, 2023 and 2022, we had no outstanding interest rate swaps. Net Investment Hedge In February 2023, the €400.0 million 4.500% senior notes issued in June 2015 that were previously designated as a net investment hedge, hedging a portion of our net investment in a certain European subsidiary against fluctuations in foreign exchange rates were repaid, which settled the net investment hedge. See Note 14, "Debt and Credit Facilities," for additional information about the repayment of the notes. In the first quarter of 2023, we entered into a series of cross-currency swaps with a combined notional amount of $432.8 million. Each of these cross-currency swaps were designated as net investment hedges of the Company's foreign currency exposure of its net investment in certain Euro-functional currency subsidiaries with Euro-denominated net assets, and the Company pays a fixed rate of Euro-based interest and receives a fixed rate of U.S. dollar interest. The Company has elected the spot method for assessing the effectiveness of these contracts. The maturity date for this series of cross-currency swaps is February 1, 2028. The fair value of this hedge as of December 31, 2023 was a $19.9 million loss and is included within Other non-current liabilities on our Consolidated Balance Sheets. We recognized $2.8 million of interest income within Interest expense, net on the Consolidated Statements of Operations for the year ended December 31, 2023, related to these contracts. 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 loss on net investment hedges, 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 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 16, “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 Consolidated Balance Sheets. Cash Flow Hedge Net Investment Hedge Non-Designated as Hedging Instruments Total December 31, December 31, December 31, December 31, (In millions) 2023 2022 2023 2022 2023 2022 2023 2022 Derivative Assets Foreign currency forward contracts $ 0.2 $ 2.1 $ — $ — $ 4.9 $ 5.8 $ 5.1 $ 7.9 Total Derivative Assets $ 0.2 $ 2.1 $ — $ — $ 4.9 $ 5.8 $ 5.1 $ 7.9 Derivative Liabilities Foreign currency forward contracts $ (2.7) $ (0.8) $ — $ — $ (1.6) $ (2.4) $ (4.3) $ (3.2) Cross-currency swaps — — (19.9) — — — (19.9) — Total Derivative Liabilities (1) $ (2.7) $ (0.8) $ (19.9) $ — $ (1.6) $ (2.4) $ (24.2) $ (3.2) Net Derivatives (2) $ (2.5) $ 1.3 $ (19.9) $ — $ 3.3 $ 3.4 $ (19.1) $ 4.7 (1) Excludes €400.0 million of euro-denominated debt that was repaid in February 2023 ($426.0 million equivalent at December 31, 2022), which was designated as a net investment hedge. See Note 14, "Debt and Credit Facilities," for additional details. (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 Other Non-current Liabilities December 31, December 31, December 31, (In millions) 2023 2022 2023 2022 2023 2022 Gross position $ 5.1 $ 7.9 $ (4.3) $ (3.2) $ (19.9) $ — Impact of master netting agreements (1.1) (1.1) 1.1 1.1 — — Net amounts recognized on the Consolidated Balance Sheets $ 4.0 $ 6.8 $ (3.2) $ (2.1) $ (19.9) $ — The following table details the effect of our derivative instruments on our Consolidated Statements of Operations. Location of Gain (Loss) Recognized on Amount of Gain (Loss) Recognized in Consolidated Statements of Operations Year Ended December 31, (In millions) 2023 2022 2021 Derivatives designated as hedging instruments: Cash Flow Hedges: Foreign currency forward contracts Cost of sales $ 4.2 $ 10.9 $ (1.9) Treasury locks Interest expense, net 0.1 0.1 0.1 Sub-total cash flow hedges 4.3 11.0 (1.8) Derivatives not designated as hedging instruments: Foreign currency forward and option contracts Other expense, net 12.0 7.8 6.0 Total $ 16.3 $ 18.8 $ 4.2

Fair Value Measurements, Equity

Fair Value Measurements, Equity Investments and Other Financial Instruments	12 Months Ended
	Dec. 31, 2023
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. December 31, 2023 (In millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 40.2 $ 40.2 $ — $ — Derivative financial and hedging instruments net asset (liability): Foreign currency forward contracts $ 0.8 $ — $ 0.8 $ — Cross-currency swaps $ (19.9) $ — $ (19.9) $ — December 31, 2022 (In millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 122.5 $ 122.5 $ — $ — Derivative financial and hedging instruments net asset: Foreign currency forward contracts $ 4.7 $ — $ 4.7 $ — 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 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 are included in Prepaid expenses and other current assets and Other current liabilities on the Consolidated Balance Sheets as of December 31, 2023 and 2022. Cross-currency swaps are included in Other non-current liabilities on the Consolidated Balance Sheets as of December 31, 2023. 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 Consolidated Balance Sheets. December 31, (In millions) 2023 2022 2021 Carrying value at the beginning of period $ 13.3 $ 45.8 $ 25.4 Purchases — — 14.7 Impairments or downward adjustments — (31.6) — Upward adjustments — — 6.6 Currency translation on investments 0.5 (0.9) (0.9) Carrying value at the end of period $ 13.8 $ 13.3 $ 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 Consolidated Statements of Operations. In connection with our second quarter 2022 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 Consolidated Statements of Operations during the second quarter of 2022. As of December 31, 2023 and 2022, cumulative upward adjustments to our equity investments were $21.7 million. The cumulative impairments or downward adjustments to our equity investments were $31.6 million, as of December 31, 2023 and 2022. 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 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 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: December 31, 2023 December 31, 2022 (In millions) Interest rate Carrying Fair Carrying Fair Term Loan A due March 2027 (1) $ 1,050.1 $ 1,050.1 $ 506.6 $ 506.6 Senior Notes due September 2023 (1) 4.500 % — — 426.0 427.3 Senior Notes due December 2024 5.125 % — — 423.5 419.7 Senior Notes due September 2025 5.500 % 399.1 400.7 398.7 398.6 Senior Secured Notes due October 2026 1.573 % 597.0 539.5 596.0 521.7 Senior Notes due December 2027 4.000 % 422.5 399.4 421.9 386.6 Senior Notes due February 2028 6.125 % 764.8 780.8 — — Senior Notes due April 2029 5.000 % 421.7 410.8 421.2 400.2 Senior Notes due February 2031 7.250 % 420.9 450.3 — — Senior Notes due July 2033 6.875 % 446.7 477.0 446.4 448.8 Other foreign borrowings (1) 94.1 94.1 6.6 6.6 Other domestic borrowings 65.9 65.0 7.9 7.9 Total debt (2) $ 4,682.8 $ 4,667.7 $ 3,654.8 $ 3,524.0 (1) Includes borrowings denominated in currencies other than U.S. dollars. (2) The carrying amount and estimated fair value of debt exclude lease liabilities. In addition to the table above, the Company remeasures amounts related to certain equity compensation that are carried at fair value on a recurring basis in the Consolidated Financial Statements or for which a fair value measurement was required. Refer to Note 21, “Stockholders’ Equity,” for additional detail on share-based compensation. Included among our non-financial assets and liabilities that are not required to be measured at fair value on a recurring basis are inventories, net property and equipment, goodwill, intangible assets and asset retirement obligations. Credit and Market Risk Financial instruments, including derivatives, expose us to counterparty credit risk for nonperformance and to market risk related to changes in interest or currency exchange rates. We manage our exposure to counterparty credit risk through specific minimum credit standards, establishing credit limits, diversification of counterparties, and procedures to monitor concentrations of credit risk. We do not expect any of our counterparties in derivative transactions to fail to perform, as it is our policy to have counterparties to these contracts that have at least an investment grade rating. Nevertheless, there is a risk that our exposure to losses arising out of derivative contracts could be material if the counterparties to these agreements fail to perform their obligations. We will replace counterparties if a credit downgrade is deemed to increase our risk to unacceptable levels. We regularly monitor the impact of market risk on the fair value and cash flows of our derivative and other financial instruments considering reasonably possible changes in interest and currency exchange rates and restrict the use of derivative financial instruments to hedging activities. We do not use derivative financial instruments for trading or other speculative purposes and do not use leveraged derivative financial instruments. We continually monitor the creditworthiness of our diverse base of customers to which we grant credit terms in the normal course of business and generally do not require collateral. We consider the concentrations of credit risk associated with our trade accounts receivable to be commercially reasonable and believe that such concentrations do not leave us vulnerable to significant risks of near-term severe adverse impacts. The terms and conditions of our credit sales are designed to mitigate concentrations of credit risk with any single customer. Our sales are not materially dependent on a single customer or a small group of customers.

Profit Sharing, Retirement Savi

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans	Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans Profit Sharing and Retirement Savings Plans We have a qualified non-contributory profit sharing plan covering most of our U.S. employees. Contributions to this plan, which are made at the discretion of our Board of Directors, may be made in cash, shares of our common stock, or in a combination of cash and shares of our common stock. We also maintain a qualified contributory retirement savings plan in which most of our U.S. employees are eligible to participate. The qualified contributory retirement savings plans generally provide for our contributions in cash, based upon the amount contributed to the plans by the participants. The expense associated with our contributions to the U.S. profit sharing plan and retirement savings plan are charged to operations and amounted to $45.7 million in 2023, $43.9 million in 2022 and $42.5 million in 2021. In 2023, 504,626 shares were contributed as part of our contribution to the profit sharing plan related to 2022; in 2022, 350,668 shares were contributed as part of our contribution to the profit sharing plan related to 2021; and in 2021, 633,875 shares were contributed as part of our contribution to the profit sharing plan related to 2020. These shares were issued out of treasury stock. We have various international defined contribution benefit plans which cover certain employees. We have expanded use of these plans in select countries where they have been used to supplement or replace defined benefit plans. Defined Benefit Pension Plans We recognize the funded status of each defined pension benefit plan as the difference between the fair value of plan assets and the projected benefit obligation of the employee benefit plans in the Consolidated Balance Sheets. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability on our Consolidated Balance Sheets. Subsequent changes in the funded status are reflected on the Consolidated Balance Sheets in Unrecognized pension items, a component of AOCL, within Total stockholders’ equity. The amount of unamortized pension items is recorded net of tax. We amortize actuarial gains or losses over the average future working lifetime (or remaining lifetime of inactive participants if there are no active participants). We use the corridor method, where the corridor is the greater of ten percent of the projected benefit obligation or fair value of assets at year end. If actuarial gains or losses do not exceed the corridor, then there is no amortization of gain or loss. The following table shows total benefit cost (income) related to our pension plans and the classification on our Consolidated Statements of Operations for the three years ended December 31: Year Ended December 31, (In millions) 2023 2022 2021 U.S. and international net periodic benefit cost included in cost of sales (1) $ 1.0 $ 1.2 $ 1.3 U.S. and international net periodic benefit cost included in selling, general and administrative expenses 2.4 3.1 3.8 U.S. and international net periodic benefit cost (income) and cost of special events included in other expense, net 4.8 (6.7) (6.3) Total benefit cost (income) $ 8.2 $ (2.4) $ (1.2) (1) The amount recorded in inventory for the years ended December 31, 2023, 2022 and 2021 was not material. A number of our U.S. employees, including some employees who are covered by collective bargaining agreements, participate in defined benefit pension plans. Some of our international employees participate in defined benefit pension plans in their respective countries. The following table presents our funded status for 2023 and 2022 for our U.S. and international pension plans. The measurement date used to determine benefit obligations and plan assets is December 31 for all material plans. December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Change in benefit obligation: Projected benefit obligation at beginning of period $ 139.5 $ 481.8 $ 621.3 $ 185.1 $ 714.1 $ 899.2 Service cost 0.1 3.3 3.4 0.1 4.2 4.3 Interest cost 7.2 21.4 28.6 4.1 11.4 15.5 Actuarial loss (gain) 3.3 31.5 34.8 (36.9) (173.2) (210.1) Settlement — (2.4) (2.4) — (2.0) (2.0) Benefits paid (14.7) (25.4) (40.1) (12.9) (23.4) (36.3) Employee contributions — 0.9 0.9 — 0.9 0.9 Other 0.1 — 0.1 — (0.3) (0.3) Foreign exchange impact — 27.5 27.5 — (49.9) (49.9) Projected benefit obligation at end of period $ 135.5 $ 538.6 $ 674.1 $ 139.5 $ 481.8 $ 621.3 Change in plan assets: Fair value of plan assets at beginning of period $ 113.5 $ 456.9 $ 570.4 $ 150.8 $ 677.5 $ 828.3 Actual return on plan assets 7.8 23.4 31.2 (24.4) (153.4) (177.8) Employer contributions — 9.1 9.1 — 8.7 8.7 Employee contributions — 0.9 0.9 — 0.9 0.9 Benefits paid (14.7) (25.4) (40.1) (12.9) (23.4) (36.3) Settlement — (2.5) (2.5) — (2.1) (2.1) Other — (0.4) (0.4) — (0.3) (0.3) Foreign exchange impact — 27.5 27.5 — (51.0) (51.0) Fair value of plan assets at end of period $ 106.6 $ 489.5 $ 596.1 $ 113.5 $ 456.9 $ 570.4 Underfunded status at end of year $ (28.9) $ (49.1) $ (78.0) $ (26.0) $ (24.9) $ (50.9) Accumulated benefit obligation at end of year $ 135.5 $ 528.9 $ 664.4 $ 139.5 $ 473.7 $ 613.2 Actuarial losses resulting in an increase to our projected benefit obligation for the year ended December 31, 2023 were primarily due to a decrease in weighted average discount rates for our U.S. and International plans of 40 basis points and 60 basis points, respectively. Actuarial gains resulting in a decrease to our projected benefit obligation for the year ended December 31, 2022 were primarily due to an increase in weighted average discount rates for our U.S. and International plans of 270 basis points and 260 basis points, respectively. Amounts included in the Consolidated Balance Sheets are summarized in the following table: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Other non-current assets $ — $ 40.9 $ 40.9 $ — $ 54.6 $ 54.6 Other current liabilities — (4.3) (4.3) — (4.1) (4.1) Other non-current liabilities (28.9) (87.7) (116.6) (26.0) (76.6) (102.6) Net amount recognized (1) $ (28.9) $ (51.1) $ (80.0) $ (26.0) $ (26.1) $ (52.1) (1) Includes the underfunded status of material plans as presented in the previous table, as well as the underfunded status of other plans deemed to be immaterial. The following table shows the components of our net periodic benefit cost (income) for the years ended December 31, for our pension plans: December 31, 2023 December 31, 2022 December 31, 2021 (In millions) U.S. International Total U.S. International Total U.S. International Total Components of net periodic benefit cost (income): Service cost $ 0.1 $ 3.3 $ 3.4 $ 0.1 $ 4.2 $ 4.3 $ 0.1 $ 5.0 $ 5.1 Interest cost 7.2 21.4 28.6 4.1 11.4 15.5 3.5 8.8 12.3 Expected return on plan assets (7.2) (21.8) (29.0) (9.0) (18.8) (27.8) (8.9) (18.5) (27.4) Amortization of net prior service cost — 0.2 0.2 — 0.3 0.3 — 0.3 0.3 Amortization of net actuarial loss 1.5 3.3 4.8 1.7 3.6 5.3 2.4 5.2 7.6 Net periodic benefit cost (income) 1.6 6.4 8.0 (3.1) 0.7 (2.4) (2.9) 0.8 (2.1) Cost of settlement — 0.2 0.2 — — — — 0.9 0.9 Total benefit cost (income) $ 1.6 $ 6.6 $ 8.2 $ (3.1) $ 0.7 $ (2.4) $ (2.9) $ 1.7 $ (1.2) The amounts included in AOCL that have not yet been recognized as components of net periodic benefit cost at December 31, 2023 and 2022 are: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Unrecognized net prior service cost $ 0.3 $ 4.4 $ 4.7 $ 0.2 $ 4.7 $ 4.9 Unrecognized net actuarial loss 43.2 151.9 195.1 42.0 125.3 167.3 Total $ 43.5 $ 156.3 $ 199.8 $ 42.2 $ 130.0 $ 172.2 Changes in plan assets and benefit obligations reflected in AOCL for the years ended December 31, 2023 and 2022 were as follows: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Current year actuarial loss (gain) $ 2.7 $ 29.9 $ 32.6 $ (3.5) $ (1.0) $ (4.5) Prior service cost occurring during the year 0.2 — 0.2 — — — Amortization of net actuarial loss (1.5) (3.3) (4.8) (1.7) (3.6) (5.3) Amortization of net prior service cost — (0.2) (0.2) — (0.3) (0.3) Settlement — (0.2) (0.2) — — — Total $ 1.4 $ 26.2 $ 27.6 $ (5.2) $ (4.9) $ (10.1) Information for plans with accumulated benefit obligations in excess of plan assets as of December 31, 2023 and 2022 are as follows: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Accumulated benefit obligation $ 135.5 $ 103.5 $ 239.0 $ 139.5 $ 90.3 $ 229.8 Fair value of plan assets 106.6 20.8 127.4 113.5 17.1 130.6 Information for plans with projected benefit obligations in excess of plan assets as of December 31, 2023 and 2022 are as follows: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Projected benefit obligation $ 135.5 $ 110.7 $ 246.2 $ 139.5 $ 97.6 $ 237.1 Fair value of plan assets (1) 106.6 20.8 127.4 113.5 18.3 131.8 (1) As of December 31, 2022, the projected benefit obligation for one of our international plans exceeded the fair value of plan assets and is included in this table. However, the corresponding accumulated benefit obligation was not in excess of the fair value of the plan assets, and as such is excluded from the preceding table. Actuarial Assumptions Weighted average assumptions used to determine benefit obligations at December 31, 2023 and 2022 were as follows: December 31, 2023 December 31, 2022 U.S. International U.S. International Benefit obligations Discount rate 5.1 % 3.9 % 5.5 % 4.5 % Rate of compensation increase N/A 2.5 % N/A 2.5 % Cash balance interest credit rate 3.9 % 1.4 % 4.2 % 2.2 % Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31, were as follows: December 31, 2023 December 31, 2022 December 31, 2021 U.S. International U.S. International U.S. International Net periodic benefit cost Discount rate 5.5 % 4.5 % 2.8 % 1.9 % 2.4 % 1.4 % Expected long-term rate of return 6.7 % 4.8 % 6.3 % 3.1 % 6.3 % 2.8 % Rate of compensation increase N/A 2.5 % N/A 2.3 % N/A 2.3 % Cash balance interest credit rate 4.2 % 2.2 % 1.6 % 1.1 % 1.2 % 1.1 % Estimated Future Benefit Payments We expect the following estimated future benefit payments, which reflect expected future service as appropriate, to be paid in the years indicated: Amount (In millions) Year U.S. International Total 2024 $ 11.5 $ 29.9 $ 41.4 2025 11.0 28.3 39.3 2026 11.0 29.8 40.8 2027 10.8 29.9 40.7 2028 10.6 32.9 43.5 2029 to 2033 (combined) 50.9 173.7 224.6 Total $ 105.8 $ 324.5 $ 430.3 Plan Assets We review the expected long-term rate of return on plan assets annually, taking into consideration our asset allocation, historical returns, and the current economic environment. The expected return on plan assets is calculated based on the fair value of plan assets at year end. To determine the expected return on plan assets, expected cash flows have been taken into account. Our long-term objectives for plan investments are to ensure that (a) there is an adequate level of assets to support benefit obligations to participants over the life of the plans, (b) there is sufficient liquidity in plan assets to cover current benefit obligations, and (c) there is a high level of investment return consistent with a prudent level of investment risk. The investment strategy is focused on a long-term total return in excess of a pure fixed income strategy with short-term volatility less than that of a pure equity strategy. To accomplish these objectives, in many instances the plan assets are invested on a glide-path which reduces the exposure to return-seeking assets as a plan's funded status increases. Overall, we invest assets primarily in a diversified mix of equity and fixed income investments. For our U.S. plan, the target asset allocation includes approximately 50% in return seeking assets, which are primarily comprised of global equities. The remainder of the target asset allocation for the U.S. plan is comprised of liability hedging assets which are primarily fixed income investments. In some of our international pension plans, we have purchased bulk annuity contracts (buy-ins). These annuity contracts provide cash flows that match the future benefit payments for a specific group of pensioners. These contracts are issued by third party insurance companies with no affiliation to Sealed Air. Insurance companies from which we purchase the annuity contracts are assessed as credit worthy. As of December 31, 2023 and 2022, buy-ins represented $107.0 million and $98.4 million of total plan assets, respectively. The value of these assets is actuarially determined based on the present value of the underlying liabilities. We currently expect our contributions to the pension plans to be approximately $9.7 million in 2024. Additionally, we expect benefits paid directly by the Company related to our defined benefit pension plans to be $4.3 million in 2024. The fair values of our U.S. and international pension plan assets, by asset category and by the level of fair values are as follows: December 31, 2023 December 31, 2022 Total Total (In millions) Fair Value Level 1 Level 2 Level 3 NAV (5) Fair Value Level 1 Level 2 Level 3 NAV (5) Cash and cash equivalents (1) $ 6.9 $ 2.4 $ 4.5 $ — $ — $ 7.8 $ 3.0 $ 4.8 $ — $ — Fixed income funds (2) 290.5 — 174.5 — 116.0 261.0 — 155.2 — 105.8 Equity funds (3) 73.2 — 37.9 — 35.3 75.1 — 37.8 — 37.3 Other (4) 225.5 — 1.4 169.2 54.9 226.5 — 1.8 159.3 65.4 Total $ 596.1 $ 2.4 $ 218.3 $ 169.2 $ 206.2 $ 570.4 $ 3.0 $ 199.6 $ 159.3 $ 208.5 (1) Short-term investment fund that invests in a collective trust that holds short-term highly liquid investments with principal preservation and daily liquidity as its primary objectives. Investments are primarily comprised of certificates of deposit, government securities, commercial paper, and time deposits. (2) Fixed income funds that invest in a diversified portfolio primarily consisting of publicly traded government bonds and corporate bonds. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end. (3) Equity funds that invest in a diversified portfolio of publicly traded domestic and international common stock. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end. (4) The largest component of other assets are bulk annuity contracts (buy-ins). The other assets also include real estate and other alternative investments. (5) These assets are measured at Net Asset Value (NAV) as a practical expedient under ASC 820. The following table shows the activity of our U.S. and international plan assets that are measured at fair value using Level 3 inputs. December 31, (In millions) 2023 2022 Balance at beginning of period $ 159.3 $ 211.9 Gain (loss) on assets still held at end of year 13.2 (41.2) Loss on assets sold during the year — (0.8) Purchases, sales, issuance, and settlements (12.9) 9.9 Foreign exchange gain (loss) 9.6 (20.5) Balance at end of period $ 169.2 $ 159.3

Other Post-Employment Benefit P

Other Post-Employment Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Other Post-Employment Benefit Plans	Other Post-Employment Benefit Plans In addition to providing pension benefits, we maintain two Other Post-Employment Benefit Plans which provide a portion of healthcare, dental, vision and life insurance benefits for certain retired legacy employees. These plans are in the U.S. and Canada. Covered employees who retired on or after attaining age 55 and who had rendered at least 10 years of service were entitled to post-retirement healthcare, dental and life insurance benefits. These benefits are subject to deductibles, co-payment provisions and other limitations. The information below relates to these two plans. Contributions made by us, net of Medicare Part D subsidies received in the U.S., are reported below as benefits paid. We may change the benefits at any time. The status of these plans, including a reconciliation of benefit obligations, a reconciliation of plan assets and the funded status of the plans, follows: December 31, (In millions) 2023 2022 Change in benefit obligations: Benefit obligation at beginning of period $ 33.3 $ 40.4 Interest cost 1.6 0.7 Actuarial gain (1.6) (5.0) Benefits paid, net (2.9) (2.8) Benefit obligation at end of period $ 30.4 $ 33.3 Change in plan assets: Fair value of plan assets at beginning of period $ — $ — Employer contribution 2.9 2.8 Benefits paid, net (2.9) (2.8) Fair value of plan assets at end of period $ — $ — Net amount recognized: Underfunded status $ (30.4) $ (33.3) Accumulated benefit obligation at end of year $ 30.4 $ 33.3 Amounts recognized in the consolidated balance sheets consist of: Current liability $ (4.6) $ (5.0) Non-current liability (25.8) (28.3) Net amount recognized $ (30.4) $ (33.3) Amounts recognized in accumulated other comprehensive loss consist of: Net actuarial gain $ (5.3) $ (3.8) Net prior service credit (1.3) (1.6) Total $ (6.6) $ (5.4) Actuarial gains resulting in a decrease to our accumulated benefit obligation for the year ended December 31, 2023 were primarily due to a decrease in expected utilization of employer funded portions of retiree medical savings accounts. This change was based on an analysis of actual historical utilization rates over the last five years. Actuarial gains resulting in a decrease to our accumulated benefit obligation for the year ended December 31, 2022 were primarily due to an increase in the weighted average discount rate of 270 basis points. The accumulated post-retirement benefit obligations were determined using a weighted-average discount rate of 5.1% at December 31, 2023 and 5.4% at December 31, 2022. The components of net periodic benefit cost were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Components of net periodic benefit cost: Interest cost 1.6 0.7 0.6 Amortization of net actuarial gain (0.1) (0.1) (0.2) Amortization of net prior service credit (0.3) (0.3) (0.3) Net periodic benefit cost $ 1.2 $ 0.3 $ 0.1 Impact of settlement/curtailment — — — Total benefit cost for fiscal year $ 1.2 $ 0.3 $ 0.1 The amortization of any prior service credit is determined using a straight-line amortization of the credit over the average remaining service period of employees expected to receive benefits under the plan. Changes in benefit obligations that were recognized in AOCL for the years ended December 31, 2023 and December 31, 2022 were as follows: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Current year actuarial gain $ (1.6) $ — $ (1.6) $ (4.9) $ (0.1) $ (5.0) Amortization of actuarial gain — 0.1 0.1 — 0.1 0.1 Amortization of prior service credit 0.3 — 0.3 0.3 — 0.3 Total $ (1.3) $ 0.1 $ (1.2) $ (4.6) $ — $ (4.6) Healthcare Cost Trend Rates The assumed healthcare cost trend rates have an effect on the amounts recognized in our Consolidated Statements of Operations for the healthcare plans. For the year ended December 31, 2023, healthcare cost trend rates were assumed to be 7.0% for the U.S. plan and 5.0% for the Canada plan. The trend rates assumed for 2024 are 6.8% and 5.0% for the U.S. and Canada plan, respectively. Rates are expected to decrease to 5.5% by 2029 for the U.S. plan, and remain unchanged in future years for the Canada plan. Expected post-retirement benefits (net of Medicare Part D subsidies) for each of the next five years and succeeding five years are as follows: Year Amount (In millions) 2024 $ 4.7 2025 4.0 2026 3.5 2027 3.1 2028 2.6 2029 to 2033 (combined) 9.8 Total $ 27.7

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In 2023, 2022 and 2021, we recorded tax provisions of $90.4 million, $238.0 million and $225.0 million, respectively. Cash tax payments, net of refunds were $357.7 million, $192.2 million and $112.6 million for 2023, 2022 and 2021, respectively. Tax Cuts and Jobs Act Beginning in 2022, taxpayers are required to capitalize research and development costs and amortize them over a 5 or 15 year life. The impact of this change on the financial statements is reflected as an increase in the deferred tax asset related to capitalized expenses. Inflation Reduction Act 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 in 2023. We do not expect the legislation to have a material impact on our consolidated financial statements. The components of earnings before income tax provision were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Domestic $ 134.8 $ 434.0 $ 346.2 Foreign 294.9 295.3 370.0 Total $ 429.7 $ 729.3 $ 716.2 The components of our income tax provision were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Current tax expense: Federal $ 23.6 $ 154.1 $ 63.1 State and local 13.2 25.6 17.2 Foreign 81.8 88.7 106.6 Total current expense $ 118.6 $ 268.4 $ 186.9 Deferred tax (benefit) expense: Federal $ (28.1) $ (23.4) $ 9.6 State and local (5.8) 2.3 6.9 Foreign 5.7 (9.3) 21.6 Total deferred tax (benefit) expense (28.2) (30.4) 38.1 Total income tax provision $ 90.4 $ 238.0 $ 225.0 Deferred tax assets (liabilities) consist of the following: December 31, (In millions) 2023 2022 Accruals not yet deductible for tax purposes $ 27.5 $ 17.6 Net operating loss carryforwards 222.2 208.4 Foreign, federal and state credits 13.6 9.5 Employee benefit items 41.9 40.3 Capitalized expenses 114.8 36.5 Intangible assets — 12.6 Derivatives and other 52.2 44.7 Sub-total deferred tax assets 472.2 369.6 Valuation allowance (205.6) (179.5) Total deferred tax assets $ 266.6 $ 190.1 Depreciation and amortization $ (111.4) $ (89.1) Unremitted foreign earnings (1.6) — Intangible assets (65.0) — Total deferred tax liabilities (178.0) (89.1) Net deferred tax assets $ 88.6 $ 101.0 The increase in deferred tax assets is primarily related to disallowed interest expense and capitalized research expense. The increase in deferred tax liabilities is primarily related to purchase accounting adjustments associated with the Liquibox acquisition. Valuation allowances have been provided based on the uncertainty of realizing the tax benefits of certain deferred tax assets, primarily: • $191.9 million of foreign items, primarily net operating losses; and • $10.9 million of tax credits. For the year ended December 31, 2023, the valuation allowances increased by $26.1 million. The change is primarily driven by increases in foreign net operating losses and amounts recorded in purchase accounting related to Liquibox attributes. As of December 31, 2023, we have foreign net operating loss carryforwards of $857.2 million expiring in years beginning in 2024, with most losses having an unlimited carryover. The state net operating loss carryforwards totaling $336.4 million expire in various amounts over 1 to 19 years. As of December 31, 2023, we have $6.1 million of federal tax credit carryforwards and $9.5 million of state credit carryovers expiring between 2024 and 2033. Most of the credit carryovers have a valuation allowance recorded against them. The Company has indefinitely reinvested most of its foreign earnings, which are the principal component of U.S. and foreign outside basis differences. The total amount of unremitted foreign earnings is approximately $5.3 billion upon which the U.S. federal income tax effect has largely been recorded because of the one-time mandatory tax on previously deferred foreign earnings of foreign subsidiaries provision (“Transition Tax”) associated with the Tax Cuts and Jobs Act of 2017. Remitting these foreign earnings would result in additional foreign and U.S. income tax consequences, the net tax costs of which are not practicable to determine. Only a minimal deferred tax liability associated with Liquibox future distributions has been recorded as of December 31, 2023. A reconciliation of the provision for income taxes, with the amount computed by applying the statutory federal income tax rate, 21%, to income before provision for income taxes, is as follows: Year Ended December 31, (In millions) 2023 2022 2021 Computed expected tax $ 90.2 21.0 % $ 153.2 21.0 % $ 150.4 21.0 % State income taxes, net of federal tax benefit 4.8 1.1 % 18.3 2.5 % 15.6 2.2 % Foreign earnings taxed at different rates 4.5 1.0 % 10.3 1.4 % 16.2 2.2 % U.S. tax on foreign earnings 14.9 3.5 % 16.8 2.3 % 14.3 2.0 % Tax credits (27.6) (6.4) % (30.6) (4.2) % (30.2) (4.2) % Withholding tax 6.0 1.4 % 7.0 1.0 % 4.7 0.7 % Net change in valuation allowance 13.0 3.0 % 1.0 0.1 % 3.6 0.5 % Net change in unrecognized tax benefits (22.3) (5.2) % 65.3 9.0 % 19.6 2.7 % Legislative changes — — % — — % 5.1 0.7 % Deferred tax adjustments 0.4 0.1 % — — % 11.4 1.6 % Other 6.5 1.5 % (3.3) (0.5) % 14.3 2.0 % Income tax provision and rate $ 90.4 21.0 % $ 238.0 32.6 % $ 225.0 31.4 % Unrecognized Tax Benefits We are providing the following disclosures related to our unrecognized tax benefits and the effect on our effective income tax rate if recognized: Year Ended December 31, (In millions) 2023 2022 2021 Beginning balance of unrecognized tax benefits $ 420.1 $ 389.0 $ 379.6 Additions for tax positions of current year 0.9 1.3 1.8 Additions for tax positions of prior years 7.5 41.6 9.7 Reductions for tax positions of prior years (0.4) (4.1) (1.9) Reductions for lapses of statutes of limitation and settlements (191.5) (7.7) (0.2) Ending balance of unrecognized tax benefits $ 236.6 $ 420.1 $ 389.0 In 2023, our unrecognized tax benefit decreased by $183.5 million primarily related to the definitive agreement reached with the IRS Independent Office of Appeals for the 2014 taxable year. See "Income Tax Returns" below. In 2022, our unrecognized tax benefit increased by $31.1 million, primarily related to interest accruals and other adjustments to existing unrecognized tax benefit positions. If the unrecognized tax benefits at December 31, 2023 were recognized, our income tax provision would decrease by $213.3 million, resulting in a substantially lower effective tax rate. Based on the potential outcome of the Company’s global tax examinations and the expiration of the statute of limitations for specific jurisdictions, it is possible that the unrecognized tax benefits could change significantly within the next 12 months. Absent resolution of significant tax controversy, the impact on the ending balance is estimated to be a decrease of approximately $1.7 million during 2024. We recognize interest and penalties associated with unrecognized tax benefits in our Income tax provision in the Consolidated Statements of Operations. Interest and penalties recorded were $8.4 million, $29.0 million, and $10.5 million, respectively in 2023, 2022 and 2021. We had gross liabilities for interest and penalties of $97.3 million at December 31, 2023, $120.8 million at December 31, 2022 and $80.0 million at December 31, 2021. Most of the unrecognized tax benefit amount of $236.6 million relates to the Americas. The OECD has issued Pillar Two model rules introducing a new global minimum tax of 15% intended to be effective on January 1, 2024. While the U.S. has not yet adopted the Pillar Two rules, various other governments around the world are enacting legislation. As currently designed, Pillar Two will ultimately apply to our worldwide operations. There remains uncertainty as to the implementation of the Pillar Two model rules and we will continue to monitor U.S. and global legislative developments related to Pillar Two for potential impacts. Income Tax Returns As previously disclosed, the IRS 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 (as defined in Note 20, “Commitments and Contingencies”) and the resulting reduction of our U.S. federal tax liability by approximately $525 million. On April 20, 2023, we deposited $175.0 million with the IRS based on an estimate of the federal tax and interest anticipated to be due. During the fourth quarter of 2023, we reached a definitive agreement with the IRS Independent Office of Appeals to settle this matter which resulted in a $203 million reduction to our unrecognized tax benefits, a $122 million reduction to the deposit, and a $38 million reduction to our income tax provision for the year ended December 31, 2023. The remaining balance of the deposit is reflected as a current asset within Advances and deposits on the Consolidated Balance Sheet at December 31, 2023. State income tax returns are generally subject to examination for a period of 3 to 5 years after their filing date. We have various state income tax returns in the process of examination and are generally open to examination for periods after 2017. Our foreign income tax returns are under examination in various jurisdictions in which we conduct business. The statute of limitations in foreign jurisdictions generally range from 3 to 5 years after the tax return filing date. We have various foreign returns in the process of examination and have generally concluded income tax matters in other foreign jurisdictions for the years prior to 2017. Management believes that an adequate income tax provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any of the issues addressed in the Company’s tax audits are resolved in a manner that is inconsistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs and could be required to make significant payments as a result.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
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 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 reached a definitive agreement with the IRS Independent Office of Appeals to settle the matter during the fourth quarter of 2023. See Note 19, "Income Taxes," for further details. 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 alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (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 sought to represent a class of purchasers of the Company’s common stock between November 17, 2014 and June 20, 2019. The complaint sought, 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 on September 14, 2022, the Court issued an order preliminarily approving such settlement. The settlement was funded by the Company’s insurance carriers. In the third quarter of 2022, the Company recorded a liability of $12.5 million in Other current liabilities and a corresponding $12.5 million insurance receivable in Other receivables on the Consolidated Balance Sheets. On October 14, 2022, the Company’s insurance carriers funded the $12.5 million settlement via an escrow account established on behalf of the settlement class. On January 20, 2023, the Court certified a settlement class and issued an order granting final approval of the settlement. Accordingly, in the first quarter of 2023, the Company reversed the $12.5 million in Other current liabilities and the corresponding insurance receivable in Other receivables on the Consolidated Balance Sheets that was recorded in the third quarter of 2022. 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 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 Consolidated Balance Sheets or Statements of Operations. We believe that we have adequately reserved for all probable and estimable environmental exposures. 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 December 31, 2023, 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. Other Principal Contractual Obligations At December 31, 2023, we had other principal contractual obligations, which included agreements to purchase an estimated amount of goods, including raw materials, or services in the normal course of business, aggregating to approximately $135.6 million. The estimated future cash outlays are as follows: Year Amount (In millions) 2024 $ 100.8 2025 22.3 2026 9.0 2027 3.2 2028 0.3 Total $ 135.6 Asset Retirement Obligations The Company has recorded asset retirement obligations primarily associated with asbestos abatement, lease restitution and the removal of underground tanks. The Company's asset retirement obligation liabilities were $11.7 million and $8.2 million at December 31, 2023 and 2022, respectively. The Company also recorded assets within property and equipment, net which included $2.4 million and $2.5 million related to buildings and $6.7 million and $4.4 million related to leasehold improvements as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, accumulated depreciation related to buildings was $1.5 million and $1.3 million and leasehold improvements was $4.7 million and $3.9 million, respectively. Accretion expense was $0.4 million, $0.5 million and $0.3 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023, there was $536.5 million remaining under the currently authorized program. Share repurchases made prior to August 2, 2021 were under previous Board of Directors share repurchase authorizations, specifically the $1.0 billion authorization made in May 2018. During the year ended December 31, 2023, we repurchased 1,529,575 shares for a total of approximately $79.8 million with an average share price of $52.20. These repurchases were made under open market transactions, including through plans complying with Rule 10b5-1 under the Exchange Act, and pursuant to the share repurchase program authorized by our Board of Directors. During the year ended December 31, 2022, we repurchased 4,527,887 shares, for approximately $280.1 million with an average share price of $61.86. These repurchases were made under open market transactions, including through plans complying with Rule 10b5-1 under the Exchange Act, and pursuant to the share repurchase program authorized by our Board of Directors. During the year ended December 31, 2021, we repurchased 7,875,407 shares, for approximately $401.4 million with an average share price of $50.96. Cash outlay for share repurchases during the year ended December 31, 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 under the Exchange Act, and pursuant to the share repurchase program authorized by our Board of Directors. Retirement of Treasury Shares During the year ended December 31, 2023, the Company retired 80,000,000 shares of treasury stock. On our Consolidated Balance Sheets, we recorded a reduction to Common stock, equal to the par value of the shares retired. The excess of cost over par is allocated between Additional paid-in capital and Retained earnings, based on the historical cost of the treasury shares and the proportionate number of shares retired. The retired shares are classified as authorized and unissued. Dividends The following table shows our total cash dividends paid in the years ended December 31, 2023, 2022 and 2021: (In millions, except per share amounts) Total Cash Total Cash Dividends Paid per Common Share 2021 $ 115.8 $ 0.76 2022 118.4 0.80 2023 117.9 0.80 On February 21, 2024, our Board of Directors declared a quarterly cash dividend of $0.20 per common share payable on March 22, 2024 to stockholders of record at the close of business on March 8, 2024. The estimated amount of the dividend payment is $28.9 million, based on 144.5 million shares of our common stock issued and outstanding as of February 15, 2024. The dividend payments discussed above are recorded as reductions to cash and cash equivalents with an offset to Retained earnings on our Consolidated Balance Sheets. Our senior secured credit facility and our senior notes contain covenants that restrict our ability to declare or pay dividends and repurchase stock. 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 consolidated financial condition and results of operations. There is no guarantee that our Board of Directors will declare any further dividends. Common Stock The following is a summary of changes during the years ended December 31, in shares of our common stock and common stock in treasury: 2023 2022 2021 Changes in common stock: Number of shares, beginning of year 233,233,456 232,483,281 231,958,083 Restricted stock shares forfeited — — (1,095) Shares issued for vested restricted stock units 466,634 532,727 423,302 Shares issued for 2018 three-year PSU awards — — 47,730 Shares issued for 2019 three-year PSU awards — 161,289 — Shares issued for 2020 three-year PSU awards (3) 273,438 — 13,770 Shares issued for other performance-based awards 6,839 — — Shares issued for stock leverage opportunity awards (SLO) 40,200 36,576 32,128 Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors 33,444 19,583 54,277 Canceled shares for tax netting (1) — — (44,914) Shares canceled and retired (80,000,000) — — Number of shares issued, end of year 154,054,011 233,233,456 232,483,281 Changes in common stock in treasury: Number of shares held, beginning of year 88,561,343 84,384,124 77,068,311 Shares canceled and retired (80,000,000) — — Repurchase of common stock (2) 1,529,575 4,527,887 7,949,688 Profit sharing contribution paid in stock (504,626) (350,668) (633,875) Number of shares held, end of year (2) 9,586,292 88,561,343 84,384,124 Number of common stock outstanding, end of year (2) 144,467,719 144,672,113 148,099,157 (1) Effective January 1, 2019, new share issuances for vested awards are netted by the number of shares required to cover the recipients' portion of income tax. The portion withheld for taxes are canceled. Shares netted for taxes in 2021 primarily relates to vesting activity for restricted stock shares issued in prior years. (2) Repurchase of common stock for the year ended December 31, 2021, as shown above, includes 74,281 shares of common stock that had been repurchased by the Company in 2020 but were not yet settled or not yet reflected by the Recordkeeper as of December 31, 2020. The table above and our Consolidated Balance Sheets reflect the number of shares held in treasury per our Recordkeeper. (3) Per the terms of his 2019 offer letter, shares equal to the target number of units granted, net of shares withheld for taxes, were issued to our former CFO, James Sullivan, on September 30, 2021. 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 and 2021, the Board of Directors adopted, and our shareholders approved, amendments and restatements to the Omnibus Incentive Plan, adding 2,199,114 and 2,999,054 shares of common stock to the share pool previously available under the Omnibus Incentive Plan, respectively. A summary of the changes in common shares available for awards under the Omnibus Incentive Plan and Predecessor Plans follows: 2023 2022 2021 Number of shares available, beginning of year 5,089,324 5,510,599 3,183,310 Newly approved shares under Omnibus Incentive Plan — — 2,999,054 Restricted stock shares forfeited — — 1,095 Restricted stock units awarded (804,175) (608,955) (918,973) Restricted stock units forfeited 151,671 109,317 115,641 Shares issued for 2018 three-year PSU awards — — (47,730) Shares issued for 2019 three-year PSU awards — (161,289) — Shares issued for 2020 three-year PSU awards (273,438) — (13,770) Shares issued for other performance-based awards (6,839) — — Restricted stock units awarded for SLO awards (32,330) (37,756) (72,043) Director shares granted and issued (21,341) (10,606) (10,160) Director units granted and deferred (1) (18,352) (13,137) (16,264) Shares withheld for taxes (2) 270,454 301,151 290,439 Number of shares available, end of year (3) 4,354,974 5,089,324 5,510,599 (1) Director units granted and deferred include the impact of share-settled dividends earned and deferred on deferred shares. (2) The Omnibus Incentive Plan and 2005 Contingent Stock Plan permit withholding of taxes and other charges that may be required by law to be paid attributable to awards by withholding a portion of the shares attributable to such awards. (3) The above table excludes approximately 1.7 million contingently issuable shares under PSU awards, which represents the maximum number of shares that could be issued under those awards as of December 31, 2023. We record share-based incentive compensation expense in Selling, general and administrative expenses and Cost of sales on our Consolidated Statements of Operations for both equity-classified awards and liability-classified awards. We record a corresponding credit to Additional paid-in capital within Stockholders’ equity for equity-classified awards, and to either a current or non-current liability 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 share-based award. 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 following table summarizes the Company’s pre-tax share-based incentive compensation expense and related income tax benefit for the years ended December 31, 2023, 2022 and 2021 related to the Company’s PSU awards, SLO awards and restricted stock awards. (In millions) 2023 2022 2021 2023 Five-year ESG PSU Awards $ 2.5 $ — $ — 2023 Three-year PSU Awards 2.7 — — 2022 Three-year PSU Awards (0.2) 4.8 — 2021 Three-year PSU Awards (2.3) 7.1 4.2 2020 Three-year PSU Awards — 5.1 4.5 2019 Three-year PSU Awards — — 2.2 2017 COO and Chief Executive Officer-Designate New Hire Equity Awards — — 0.1 SLO Awards (0.6) 1.7 2.8 Other long-term share-based incentive compensation programs (1) 32.1 33.6 32.0 Total share-based incentive compensation expense (2) $ 34.2 $ 52.3 $ 45.8 Associated tax benefits recognized $ 7.5 $ 8.0 $ 7.5 (1) Amounts include expenses associated with restricted stock awards consisting of restricted stock units, cash-settled restricted stock unit awards, and other issuances of performance-based awards, apart from annual three-year PSU awards and the 2023 five-year ESG awards. Expense on other performance-based awards was $0.4 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively, and zero for the year ended December 31, 2021. (2) Amounts do not include expense related to our U.S. profit sharing contributions made in the form of our common stock, as these contributions are not considered share-based incentive compensation. Restricted Stock, Restricted Stock Units and Cash-Settled Restricted Stock Unit Awards Restricted stock, restricted stock units and cash-settled restricted stock unit awards (cash payment in an amount equal to the value of the shares on the vesting date) provide for a vesting period. Awards vest earlier in the event of the participant’s death or disability. If a participant terminates employment prior to vesting, then the award of restricted stock, restricted stock units or cash-settled restricted stock unit awards is forfeited, except for certain circumstances following a change in control. The People and Compensation Committee ("P&C Committee") of the Board of Directors may waive the forfeiture of all or a portion of an award. Generally, restricted stock, restricted stock units, and cash-settled stock unit awards pay dividend equivalents upon vesting. The following table summarizes activity for unvested restricted stock units for 2023: Restricted stock units Shares Weighted-Average per Share Fair Value on Grant Date Aggregate Intrinsic Value ( In millions ) Non-vested at December 31, 2022 1,376,406 $ 51.04 Granted 804,175 47.33 Vested (705,785) 45.63 $ 32.2 Forfeited or expired (151,671) 52.79 Non-vested at December 31, 2023 1,323,125 $ 51.47 A summary of the Company’s fair values of its vested restricted stock shares and restricted stock units are shown in the following table: (In millions) 2023 2022 2021 Fair value of restricted stock shares vested $ — $ — $ 6.1 Fair value of restricted stock units vested $ 33.6 $ 51.6 $ 26.4 Unrecognized compensation cost and the weighted average period over which the compensation cost is expected to be recognized for its non-vested restricted stock units are shown in the following table: (In millions) Unrecognized Compensation Cost Weighted Average to be recognized (in years) Restricted Stock units $ 45.8 1.0 The non-vested cash awards excluded from table above had $1.4 million unrecognized compensation costs and weighted-average remaining contractual life of approximately 1 year. We have recognized liabilities of $0.8 million and $1.4 million within Other current liabilities on our Consolidated Balance Sheets, as of December 31, 2023 and 2022, respectively. Cash paid for vested cash-settled restricted stock unit awards was $1.7 million and $2.3 million in 2023 and 2022, respectively. PSU Awards Three During the first 90 days of each year, the P&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 performance goals and measures that will determine the percentage of the target award that is earned following the end of the three the number of shares that they have earned. Each PSU is subject to forfeiture if the recipient terminates employment with the Company prior to the end of the three The performance goals, weightings and other information regarding PSU awards for 2021, 2022 and 2023 are set forth below: 2021 Three : (i) three-year CAGR of consolidated Adjusted EBITDA weighted at 50% and (ii) ROIC weighted at 50%. Calculation of final achievement on each performance metric is subject to an upward or downward adjustment of up to 25% of the overall combined achievement percentage, based on the results of a relative total shareholder return (“TSR”) modifier. The comparator group for the relative TSR modifier is S&P 500 component companies as of the beginning of the performance period. Shareholder return in the top quartile of the comparator group increases overall achievement of performance metrics by 25% while shareholder return in the bottom quartile of the comparator group decreases overall achievement of the performance metrics by 25%. The total number of shares to be issued, including the modifier, for these awards can range from zero to 250% of the target number of shares. Adjusted EBITDA CAGR ROIC February 10, 2021 grant date Number of units granted 41,729 41,729 Fair value on grant date (per unit) $ 45.26 $ 45.26 February 11, 2021 grant date Number of units granted 51,882 51,882 Fair value on grant date (per unit) $ 43.85 $ 43.85 March 1, 2021 grant date Number of units granted 29,762 29,762 Fair value on grant date (per unit) $ 43.02 $ 43.02 The assumptions used to calculate the grant date fair values are shown in the following table: Expected price volatility Risk-free interest rate February 10, 2021 grant date 37.7 % 0.2 % February 11, 2021 grant date 37.7 % 0.2 % March 1, 2021 grant date 38.0 % 0.3 % PSUs are contingently awarded and will be payable in shares of the Company’s common stock based on the Company’s Adjusted EBITDA CAGR over the three three 2022 Three : (i) three-year CAGR of consolidated Adjusted EBITDA weighted at 50% and (ii) ROIC weighted at 50%. Calculation of final achievement on each performance metric is subject to an upward or downward adjustment of up to 25% of the overall combined achievement percentage, based on the results of a relative total shareholder return (“TSR”) modifier. The comparator group for the relative TSR modifier is S&P 500 component companies as of the beginning of the performance period. Shareholder return in the top quartile of the comparator group increases overall achievement of performance metrics by 25% while shareholder return in the bottom quartile of the comparator group decreases overall achievement of the performance metrics by 25%. The total number of shares to be issued, including the modifier, for these awards can range from zero to 250% of the target number of shares. 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 values are shown in the following table: Expected price volatility Risk-free interest rate February 24, 2022 grant date 37.4 % 1.7 % March 1, 2022 grant date 37.7 % 1.5 % 2023 Three : (i) three-year CAGR of consolidated Adjusted EBITDA weighted at 50% and (ii) ROIC weighted at 50%. Calculation of final achievement on each performance metric is subject to an upward or downward adjustment of up to 25% of the overall combined achievement percentage, based on the results of a relative total shareholder return (“TSR”) modifier. The comparator group for the relative TSR modifier is S&P 500 component companies as of the beginning of the performance period. Shareholder return in the top quartile of the comparator group increases overall achievement of performance metrics by 25% while shareholder return in the bottom quartile of the comparator group decreases overall achievement of the performance metrics by 25%. The total number of shares to be issued, including the modifier, for these awards can range from zero to 250% of the target number of shares. Adjusted EBITDA CAGR ROIC February 21, 2023 grant date Number of units granted 93,343 93,343 Fair value on grant date (per unit) $ 48.46 $ 48.46 March 1, 2023 grant date Number of units granted 22,963 22,963 Fair value on grant date (per unit) $ 49.05 $ 49.05 The assumptions used to calculate the grant date fair values are shown in the following table: Expected price volatility Risk-free interest rate February 21, 2023 grant date 32.9 % 4.4 % March 1, 2023 grant date 31.7 % 4.6 % The following table includes additional information related to estimated earned payout based on the probable outcome of the performance conditions and market condition as of December 31, 2023: Estimated Payout % Adjusted EBITDA CAGR ROIC TSR Modifier (1) Combined 2023 Three-year PSU Awards 100 % 100 % (25) % 75 % 2022 Three-year PSU Awards — % 200 % (25) % 75 % 2021 Three-year PSU Awards — % 200 % (25) % 75 % (1) The TSR Modifier is a market-based condition. Accordingly, we make no assumptions related to future performance. The percentages above represent actual rankings as of December 31, 2023. Any portion of outstanding awards based on the achievement of market-based conditions are accrued at 100% of fair value over the performance period in accordance with ASC 718. 2023 Five-year ESG Awards During the first quarter of 2023, the P&C Committee approved awards with a five-year performance period beginning January 1, 2023 and ending December 31, 2027 for certain of our executive officers. The P&C Committee established performance goals related to the Company's environmental, social, and governance ("ESG") commitments. A total of 75% of the target awards are weighted towards sustainability goals, including increased recycled and/or renewable content offerings and reductions in greenhouse gas intensity. The remaining 25% of the target awards are weighted towards social goals, including global gender representation, and belonging and inclusion. Calculation of final achievement on the awards is subject to upward adjustments in the event that (i) specified levels of automation and prismiq TM sales are realized and/or (ii) the target performance level for all goals is met. The total number of shares to be issued for these awards can range from zero to 187.5% of the target number of shares, inclusive of upward adjustments. During the second quarter of 2023, ESG awards were granted to one additional executive officer. The performance period and performance goals are identical to those described above. The target number of PSUs granted and the grant date fair value of the PSUs are shown in the following table: Environmental Goals Social Goals February 21, 2023 grant date Number of units granted 204,172 78,528 Fair value on grant date (per unit) $ 48.55 $ 48.55 April 18, 2023 grant date Number of units granted 20,811 8,005 Fair value on grant date (per unit) $ 46.85 $ 46.85 The following table summarizes activity for outstanding three Shares Aggregate Intrinsic Value (In millions) Outstanding at December 31, 2022 674,687 Granted (1) 544,128 Performance adjustment (2) 190,044 Converted (457,461) $ 15.5 Forfeited or expired (84,086) Outstanding at December 31, 2023 867,312 Fully vested at December 31, 2023 260,601 $ 12.4 (1) This represents the target number of performance units granted. Actual number of PSUs earned, if any, is dependent upon performance and may range from 0% to 250% of the target for three-year PSU awards and 0% to 187.5% of the target for five-year ESG PSU awards. (2) Represents units earned and distributed in excess of target for 2020 three-year PSUs awards. The following table summarizes activity for non-vested three Shares Weighted-Average per Share Fair Value on Grant Date Non-vested at December 31, 2022 380,093 $ 56.03 Granted 544,128 48.46 Vested (233,424) 46.97 Forfeited or expired (84,086) 53.29 Non-vested at December 31, 2023 606,711 $ 53.07 A summary of the Company’s fair value for its vested three (In millions) 2023 2022 2021 Fair value of PSU awards vested $ 9.5 $ 14.7 $ 17.8 A summary of the Company’s unrecognized compensation cost for PSU awards at the current estimated earned payout based on the probable outcome of the performance condition and weighted average periods over which the compensation cost is expected to be recognized as shown in the following table: (In millions) Unrecognized Compensation Costs Weighted Average to be recognized (in years) 2023 Five-year ESG PSU Awards $ 5.2 4 2023 Three-year PSU Awards 2.9 2 2022 Three-year PSU Awards 1.2 1 2021 Three-year PSU Awards — 0 2020 Three In February 2023, the P&C Committee reviewed performance results for the 2020-2022 PSUs. Performance goals for these PSUs were based on Adjusted EBITDA CAGR, ROIC, and the Company's TSR ranking relative to a group of peer companies. Based on overall performance for the 2020-2022 PSUs, these awards paid out at 172.4% of target or 457,461 units. Of this, 183,109 units were withheld to cover employee tax withholding and 914 units were designated as cash-settled awards, resulting in net share issuances of 273,438. Stock Leverage Opportunity Awards Before the start of each performance year, certain key executives have historically been eligible to elect to receive all or a portion of their annual cash bonus for that year, in increments of 25% of the annual bonus, as an award of restricted stock units under the Omnibus Incentive Plan in lieu of cash. The portion provided as an equity award was given a premium as determined by the P&C Committee each year and rounded up to the nearest whole share. The award was granted following the end of the performance year and after determination by the P&C Committee of the amount of the annual bonus award for each executive officer and other selected key executives who elected to take all or a portion of his or her annual bonus as an equity award, but no later than March 15th following the end of the performance year. The equity award was made in the form of an award of restricted stock units that vests on the second anniversary of the grant date or earlier in the event of death, disability or retirement from employment with the Company, and the shares subject to the award are not transferable by the recipient until the later of vesting or the second anniversary of the grant date. For the “principal portion” of the award that would have otherwise been paid in cash, the award vests upon any termination of employment, other than for cause. For the “premium portion” of the award, the award may early vest only in case of death, disability or retirement from the Company. Except as described above, if the recipient ceases to be employed by the Company prior to vesting, then any premium portion of the award is forfeited, except for certain circumstances following a change in control. SLO awards in the form of restricted stock units have no voting rights until shares are issued to them but do receive a cash payment in the amount of the dividends (without interest) on the shares they have earned at about the same time that shares are issued to them following vesting.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table provides details of comprehensive loss: (In millions) Unrecognized Cumulative Translation Adjustment (1) Unrecognized Unrecognized Accumulated Balance at December 31, 2021 $ (137.5) $ (760.5) $ (38.3) $ 2.4 $ (933.9) Other comprehensive income (loss) before reclassifications 7.3 (77.0) 20.0 9.2 (40.5) Less: amounts reclassified from accumulated other comprehensive loss 3.9 — — (8.3) (4.4) Net current period other comprehensive income (loss) 11.2 (77.0) 20.0 0.9 (44.9) Balance at December 31, 2022 $ (126.3) $ (837.5) $ (18.3) $ 3.3 $ (978.8) Other comprehensive (loss) income before reclassifications (23.8) 66.9 (19.8) (0.7) 22.6 Less: amounts reclassified from accumulated other comprehensive loss 3.7 — — (3.0) 0.7 Net current period other comprehensive (loss) income (20.1) 66.9 (19.8) (3.7) 23.3 Balance at December 31, 2023 $ (146.4) $ (770.6) $ (38.1) $ (0.4) $ (955.5) (1) Includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustments were $12.9 million, $15.8 million and $30.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. The following table provides detail of amounts reclassified from AOCL: (In millions) 2023 2022 2021 Location of Amount Reclassified from AOCL Defined benefit pension plans and other post-employment benefit plans: Settlements $ (0.2) $ — $ (0.9) Amortization of net prior service credit 0.1 — — Amortization of net actuarial loss (4.7) (5.2) (7.4) Total pre-tax amount (4.8) (5.2) (8.3) Other expense, net Tax benefit 1.1 1.3 2.0 Net of tax (3.7) (3.9) (6.3) Net gains (losses) on cash flow hedging derivatives: (1) Foreign currency forward contracts 4.2 10.9 (1.9) Cost of sales Treasury locks 0.1 0.1 0.1 Interest expense, net Total pre-tax amount 4.3 11.0 (1.8) Tax (expense) benefit (1.3) (2.7) 0.6 Net of tax 3.0 8.3 (1.2) Total reclassifications for the period $ (0.7) $ 4.4 $ (7.5) (1) These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 15, “Derivatives and Hedging Activities,” for additional details.

Other Expense, net

Other Expense, net	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Other Expense, net	Other Expense, net The following table provides details of other expense, net: Year Ended December 31, (In millions) 2023 2022 2021 Net foreign exchange transaction loss $ (15.3) $ (7.2) $ (0.7) Bank fee expense (5.6) (5.1) (5.0) Pension (expense) income other than service costs (8.7) 4.8 4.4 Impairment (loss)/fair value gain on equity investments, net — (30.6) 6.6 Impairment of debt investment (1) — — (8.0) Foreign currency exchange loss due to high inflationary economies (23.1) (8.8) (3.6) Loss on debt redemption and refinancing activities (13.2) (11.2) (18.6) Other income (2) 10.4 11.7 13.2 Other (expense) (6.4) (6.8) (5.2) Other expense, net $ (61.9) $ (53.2) $ (16.9) (1) During the year ended December 31, 2021, SEE made investments totaling $8.0 million, in another company's convertible debt. Based on information available to SEE specific to the investee and our expectations of recoverability at that time, we recorded a credit loss resulting in an $8.0 million impairment (establishment of allowance) of the convertible debt investment during the fourth quarter of 2021. The total allowance for credit losses related to the remaining available-for-sale debt securities as of December 31, 2023 and 2022 was zero. (2) During the year ended December 31, 2021, the Supreme Court of Brazil issued a final decision that clarified the methodology companies should use related to a claim for the overpayment of certain indirect taxes paid by Sealed Air subsidiaries in Brazil, resulting from a double taxation calculation. Based on the updated methodology approved by the Brazilian Supreme Court, we recorded $5.0 million of income during the year ended December 31, 2021.

Net Earnings per Common Share

Net Earnings per Common Share	12 Months Ended
	Dec. 31, 2023
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: Year Ended December 31, (In millions, except per share amounts) 2023 2022 2021 Basic Net Earnings Per Common Share: Numerator: Net earnings $ 341.6 $ 491.6 $ 506.8 Distributed and allocated undistributed net earnings to unvested restricted stockholders — — — Net earnings available to common stockholders $ 341.6 $ 491.6 $ 506.8 Denominator: Weighted average number of common shares outstanding - basic 144.4 145.9 150.9 Basic net earnings per common share: Basic net earnings per common share $ 2.37 $ 3.37 $ 3.36 Diluted Net Earnings Per Common Share: Numerator: Net earnings available to common stockholders $ 341.6 $ 491.6 $ 506.8 Denominator: Weighted average number of common shares outstanding - basic 144.4 145.9 150.9 Effect of dilutive stock shares and units 0.5 1.5 1.5 Weighted average number of common shares outstanding - diluted under treasury stock 144.9 147.4 152.4 Diluted net earnings per common share $ 2.36 $ 3.33 $ 3.32 PSU Awards We included contingently issuable shares using the treasury stock method for our PSU awards in the diluted weighted average number of common shares outstanding based on the number of contingently issuable shares that would be issued assuming the end of our reporting period was the end of the relevant PSU award contingency period. The calculation of diluted weighted average shares outstanding related to PSUs was 0.2 million in 2023, 0.8 million in 2022, and 0.6 million in 2021. SLO Awards

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts and Reserves	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts and Reserves	Valuation and Qualifying Accounts and Reserves Years Ended December 31, 2023, 2022 and 2021 Description Balance at Beginning of Year Charged to Costs and Expenses Deductions Foreign Currency Translation and Other Balance at End of Year (In millions) Year Ended December 31, 2023 Allowance for credit losses on trade receivables $ 11.5 $ 3.1 $ — (1) $ 0.3 $ 14.9 Inventory obsolescence reserve $ 28.9 $ 18.3 $ (4.3) (2) $ 0.4 $ 43.3 Valuation allowance on deferred tax assets $ 179.5 $ 13.2 $ (0.2) (3) $ 13.1 $ 205.6 Allowance for credit loss on debt investment $ — $ — $ — $ — $ — Year Ended December 31, 2022 Allowance for credit losses on trade receivables $ 11.1 $ 6.2 $ (5.6) (1) $ (0.2) $ 11.5 Inventory obsolescence reserve $ 24.1 $ 19.8 $ (14.6) (2) $ (0.4) $ 28.9 Valuation allowance on deferred tax assets $ 189.6 $ 2.0 $ (1.9) (3) $ (10.2) $ 179.5 Allowance for credit loss on debt investment $ 8.0 $ — $ (8.0) (4) $ — $ — Year Ended December 31, 2021 Allowance for credit losses on trade receivables $ 11.7 $ 2.1 $ (2.5) (1) $ (0.2) $ 11.1 Inventory obsolescence reserve $ 21.1 $ 9.5 $ (5.8) (2) $ (0.7) $ 24.1 Valuation allowance on deferred tax assets $ 207.1 $ 3.7 $ (6.2) (3) $ (15.0) $ 189.6 Allowance for credit loss on debt investment $ — $ 8.0 $ — $ — $ 8.0 (1) Primarily accounts receivable balances written off, net of recoveries. (2) Primarily items removed from inventory. (3) Primarily includes valuation allowances released as a result of the cessation of operations in certain jurisdictions and write off of related deferred tax asset balances. (4) Primarily due to exchange of debt investment for preferred securities of the same investee during 2022.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net earnings	$ 341.6	$ 491.6	$ 506.8

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Recently Adopted and Issued Accounting Standards (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our 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. Some prior period amounts have been reclassified to conform to the current year presentation. These reclassifications, individually and in the aggregate, did not have a material impact on our consolidated financial condition, results of operations or cash flows. All amounts are U.S. dollar-denominated in millions, except per share amounts and unless otherwise noted, and are approximate due to rounding. When we cross reference to a “Note,” we are referring to our “Notes to Consolidated Financial Statements,” unless the context indicates otherwise.
Use of Estimates	Use of Estimates The preparation of our Consolidated Financial Statements and related disclosures in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the period reported. These estimates include, among other items, assessing the expected credit losses of receivables, asset retirement obligations, the use and recoverability of inventory, the estimation of fair value of financial instruments, assumptions used in the calculation of income taxes, useful lives and recoverability of tangible assets and goodwill and other intangible assets, assumptions used in our defined benefit pension plans and other post-employment benefit plans, estimates related to self-insurance such as the aggregate liability for uninsured claims using historical experience, insurance and actuarial estimates and estimated trends in claim values, fair value measurement of assets, costs for incentive compensation, and accruals for commitments and contingencies. We review these estimates and assumptions periodically using historical experience and other factors and reflect the effects of any revisions in the Consolidated Financial Statements in the period we determine any revisions to be necessary. Actual results could differ from these estimates.
Financial Instruments	Financial Instruments We may use financial instruments, such as cross-currency swaps, interest rate swaps, caps and collars, U.S. Treasury lock agreements and foreign currency exchange forward contracts and options related to our borrowing and trade activities. We may use these financial instruments from time to time to manage our exposure to fluctuations in interest rates and foreign currency exchange rates. We do not purchase, hold or sell derivative financial instruments for trading purposes. We face credit risk if the counterparties to these transactions are unable to perform their obligations. Our policy is to have counterparties to these contracts that have at least an investment grade rating. We report derivative instruments at fair value and establish criteria for designation and effectiveness of transactions entered into for hedging purposes. Before entering into any derivative transaction, we identify our specific financial risk, the appropriate hedging instrument to use to reduce this risk, and the correlation between the financial risk and the hedging instrument. We use forecasts and historical data as the basis for determining the anticipated values of the transactions to be hedged. We do not enter into derivative transactions that do not have a high correlation with the underlying financial risk we are trying to reduce. We regularly review our hedge positions and the correlation between the transaction risks and the hedging instruments. We account for derivative instruments as hedges of the related underlying risks if we designate these derivative instruments as hedges and the derivative instruments are effective as hedges of recognized assets or liabilities, forecasted transactions, unrecognized firm commitments or forecasted intercompany transactions. We record gains and losses on derivatives qualifying as cash flow hedges in AOCL, to the extent that hedges are effective and until the underlying transactions are recognized on the Consolidated Statements of Operations, at which time we also recognize the gains or losses of the derivatives on the Consolidated Statements of Operations. We recognize gains and losses on qualifying fair value hedges and the related loss or gain on the hedged item attributable to the hedged risk on the Consolidated Statements of Operations. Generally, 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. Any deferred gains or losses associated with derivative instruments are recognized on the Consolidated Statements of Operations over the period in which the income or expense on the underlying hedged transaction is recognized.
Foreign Currency Translation	Foreign Currency Translation In non-U.S. locations that are not considered highly inflationary, we translate the balance sheets at the end of period exchange rates with translation adjustments accumulated in stockholders’ equity on our Consolidated Balance Sheets. We translate the statements of operations at the average exchange rates during the applicable period. We translate assets and liabilities of our operations in countries with highly inflationary economies at the end of period exchange rates, except that nonmonetary asset and liability amounts are translated at historical exchange rates. In countries with highly inflationary economies, we translate items reflected in the Consolidated Statements of Operations at average rates of exchange prevailing during the period, except that nonmonetary amounts are translated at historical exchange rates. Impact of Highly Inflationary Economy: Argentina Economic and political events in Argentina have continued to expose us to heightened levels of foreign currency exchange risk. As of July 1, 2018, Argentina was designated as a highly inflationary economy under U.S. GAAP, and the U.S. dollar replaced the Argentine peso as the functional currency for our subsidiaries in Argentina. All Argentine peso-denominated monetary assets and liabilities were remeasured into U.S. dollars using the current exchange rate available to us. The impact of any changes in the exchange rate are reflected in within Other expense, net on the Consolidated Statements of Operations. For the years ended December 31, 2023, 2022 and 2021, the Company recorded remeasurement losses of $23.1 million, $8.9 million, and $3.6 million, respectively related to our subsidiaries in Argentina. The exchange rate as of December 31, 2023, 2022 and 2021 was 808.0, 176.8 and 102.7, respectively. We will continue to evaluate each reporting period the appropriate exchange rate to remeasure our financial statements based on the facts and circumstances as applicable.
Commitments and Contingencies - Litigation	Commitments and Contingencies — Litigation On an ongoing basis, we assess the potential liabilities related to any lawsuits or claims brought against us. While it is typically very difficult to determine the timing and ultimate outcome of these actions, we use our best judgment to determine if it is probable that we will incur an expense related to the settlement or final adjudication of these matters and whether a reasonable estimation of the probable loss, if any, can be made. In assessing probable losses, we make estimates of the amount of insurance recoveries, if any. We accrue a liability when we believe a loss is probable and the amount of loss can be reasonably estimated. Due to the inherent uncertainties related to the eventual outcome of litigation and potential insurance recovery, it is possible that disputed matters may be resolved for amounts materially different from any provisions or disclosures that we have previously made. We expense legal costs, including those legal costs expected to be incurred in connection with a loss contingency, as incurred.
Revenue Recognition	Revenue Recognition Revenue from contracts with customers is recognized using a five-step model consisting of the following: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the Company satisfies a performance obligation. (1) Identify Contract with Customer: For SEE, the determination of whether an arrangement meets the definition of a contract under ASC 606 (“Topic 606”) depends on whether it creates enforceable rights and obligations. While enforceability is a matter of law, we believe that enforceable rights and obligations in a contract must be substantive in order for the contract to be in scope of Topic 606. That is, the penalty for noncompliance must be significant relative to the minimum obligation. Fixed or minimum purchase obligations with penalties for noncompliance are the most common examples of substantive enforceable rights present in our contracts. We determined that the contract term is the period of enforceability outlined by the terms of the contract. This means that in many cases, the term stated in the contract is different than the period of enforceability. After the minimum purchase obligation is met, subsequent sales are treated as separate contracts on a purchase order by purchase order basis. If no minimum purchase obligation exists, the next level of enforceability is determined, which often represents the individual purchase orders and the agreed upon terms. The customer’s ability and intent to pay the transaction price is assessed in determining whether a contract exists with the customer. If collectability of substantially all of the consideration in a contract is not probable, consideration received is not recognized as revenue unless the consideration is nonrefundable and the Company no longer has an obligation to transfer additional goods or services to the customer or collectability becomes probable. (2) Identify the Performance Obligations in the Contract: The most common goods and services determined to be distinct performance obligations are materials, equipment sales, and maintenance. Free on loan and leased equipment is typically identified as a separate lease component within the scope of ASC 842. The other goods or services promised in the contract with the customer in most cases do not represent performance obligations because they are neither separate nor distinct, or they are not material in the context of the contract. Performance obligations are satisfied when the Company transfers control of a good or service to a customer, which can occur over time or at a point in time. The amount of revenue recognized is based on the consideration to which the Company expects to be entitled in exchange for those goods or services, including the expected value of variable consideration. (3) Determine the Transaction Price: SEE has many forms of variable consideration present in its contracts with customers, including rebates and other discounts. SEE estimates variable consideration using either the expected value method or the most likely amount method as described in the standard. We include in the transaction price some or all of an amount of variable consideration estimated to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. For all contracts that contain a form of variable consideration, SEE estimates at contract inception, and periodically throughout the term of the contract, what volume of goods and/or services the customer will purchase in a given period and determines how much consideration is payable to the customer or how much consideration we would be able to recover from the customer based on the structure of the type of variable consideration. In most cases the variable consideration in contracts with customers results in amounts payable to the customer by SEE. We adjust the contract transaction price based on any changes in estimates each reporting period and record an inception to date cumulative adjustment to the amount of revenue previously recognized. When the contract with a customer contains a minimum purchase obligation, SEE only has enforceable rights to the amount of consideration promised in the minimum purchase obligation through the enforceable term of the contract. This amount of consideration, plus any variable consideration, makes up the transaction price for the contract. 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. When we estimate our rebate accruals, we consider customer-specific contractual commitments including stated rebate rates and history of actual rebates paid. Our rebate accruals are reviewed at each reporting period and adjusted to reflect data available at that time. We adjust the accruals to reflect any differences between estimated and actual amounts. These adjustments of transaction price impact the amount of net sales recognized by us in the period of adjustment. The Company expects the time between when a good or service is transferred to a customer and when the customer pays for that good or service to be one year or less for the vast majority of the Company’s contracts. In this instance the Company does not adjust consideration for a significant financing component. Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales on the Consolidated Statements of Operations. (4) Allocate the Transaction Price to the Performance Obligations in the Contract: We determine the standalone selling price for a performance obligation by first looking for observable selling prices of that performance obligation sold on a standalone basis. If an observable price is not available, we estimate the standalone selling price of the performance obligation using one of the three suggested methods in the following order of preference: adjusted market assessment approach, expected cost plus a margin approach, and residual approach. SEE often offers rebates to customers in their contracts that are related to the amount of materials purchased. We believe that this form of variable consideration should only be allocated to materials because the entire amount of variable consideration relates to the customer’s purchase of and our efforts to provide materials. Additionally, Sealed Air has many contracts that have pricing tied to third-party indices. We believe that variability from index-based pricing should be allocated specifically to materials because the pricing formulas in these contracts are related to the cost to produce materials. (5) Recognize Revenue when (or as) the Company satisfies a performance obligation Revenue is recognized upon transfer of control to the customer. Revenue for materials and equipment sales is recognized based on shipping terms, which is the point in time the customer obtains control of the promised goods. Maintenance revenue is recognized straight-line on the basis that the level of effort is consistent over the term of the contract. Lease components within contracts with customers are recognized in accordance with ASC 842. Refer to Note 3, “Revenue Recognition, Contracts with Customers,” for further discussion of revenue. Costs to obtain or fulfill a Contract and Shipping and Handling Costs The Company recognizes incremental costs to obtain a contract as an expense when incurred if the amortization period of the asset that otherwise would have been recognized is one year or less. For example, the Company generally expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within Selling, general and administrative expenses on the Consolidated Statements of Operations. Costs for shipping and handling activities performed after a customer obtains control of a good are accounted for as costs to fulfill a contract and are included in Cost of sales. 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. As discussed in Note 6, “Segments,” our reporting segments are Food and Protective. Our Food solutions are largely sold directly to end customers, while our Protective solutions 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 protein, fluids and liquids and cheese 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 enable 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, CRYOVAC ® brand Auto Pouch Systems and LIQUIBOX ® brand liquids systems. 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™, 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 e-commerce, 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 e-commerce/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. Other Revenue Recognition Considerations: 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 ASC Topic 842. Contract Balances
Research and Development	Research and Development
Share-Based Incentive Compensation	Share-Based Incentive Compensation At the 2014 Annual Meeting, the 2014 Omnibus Incentive Plan (the “Omnibus Plan”) was approved by our stockholders. Subsequently, the Board of Directors adopted, and at the Annual Stockholders' meetings in both 2018 and 2021, our stockholders approved, amendments and restatements to the 2014 Omnibus Incentive Plan. See Note 21, “Stockholders’ Equity,” for further information on this plan. We record share-based compensation awards exchanged for employee services at fair value on the date of grant and record the expense for these awards in Cost of sales and in Selling, general and administrative expenses, as applicable, on our Consolidated Statements of Operations over the requisite employee service period. Our annual grant cycle occurs after our year-end financial results have been released. We consider the impact that material, non-public information may have on the fair value of our share-based incentive awards. As of December 31, 2023, there are no outstanding awards with values that have
Income Taxes	Income Taxes We file a consolidated U.S. federal income tax return and our non-U.S. subsidiaries file income tax returns in their respective local jurisdictions. We provide for income taxes on those portions of our foreign subsidiaries’ accumulated earnings that we believe are not reinvested indefinitely in our businesses. We account for income taxes under the asset and liability method to provide for income taxes on all transactions recorded in the Consolidated Financial Statements. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax benefit carryforwards. We determine deferred tax assets and liabilities at the end of each period using enacted tax rates. In assessing the need for a valuation allowance, we estimate future reversals of existing temporary differences, future taxable earnings, and also consider the feasibility of ongoing planning strategies, taxable income in carryback periods and past operating results to determine which deferred tax assets are more likely than not to be realized in the future. Changes to tax laws, statutory tax rates and future taxable earnings can impact valuation allowances related to deferred tax assets. We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are measured based on the largest amount of benefit that has a greater than fifty percent likelihood of being realized upon settlement with tax authorities. We recognize interest and penalties related to unrecognized tax benefits in Income tax provision on our Consolidated Statements of Operations. See Note 19, “Income Taxes,” for further discussion.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider highly liquid investments with original maturities of 90 days or less to be cash equivalents. Our policy is to invest cash in excess of short-term operating and debt service requirements in cash equivalents. Cash equivalents are stated at cost, which approximates fair value because of the short-term maturity of the instruments. Our policy is to transact with counterparties that are rated at least A- by Standard & Poor’s and A3 by Moody’s. Some of our operations are located in countries that are rated below A- or A3. In this case, we try to minimize our risk by holding cash and cash equivalents at financial institutions with which we have existing global relationships whenever possible, diversifying counterparty exposures and minimizing the amount held by each counterparty and within the country in total.
Accounts Receivable Securitization Programs	Accounts Receivable Securitization Programs 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 an indirectly 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 undivided 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 pledge of collateral and will be classified as Short-term borrowings on our 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 Consolidated Balance Sheets. We have a European accounts receivable securitization program with a special purpose vehicle ("SPV"), two banks, issuers of commercial paper administered by these banks, and a group of our European subsidiaries. The European program is structured
Accounts Receivable Factoring Agreements	Accounts Receivable Factoring Agreements
Trade Receivables, Net	Trade Receivables, Net
Allowance for Credit Losses	Allowance for Credit Losses We are exposed to credit losses primarily through our sales of packaging solutions to third-party customers. Our customers' (the counterparty) ability to pay is assessed through our internal credit review processes. Based on the dollar value of credit extended, we assess our customers' credit by reviewing the total expected receivable exposure, expected timing of payments and the customers' established credit ratings. In determining customer creditworthiness, we assess our customers' credit utilizing different resources including external credit validations and/or our own assessment through analysis of the customers' financial statements and review of trade/bank references. We also consider contract terms and conditions, country and political risk, and the customers' mix of products purchased (for example: equipment vs. materials) in our evaluation. A credit limit is established for each customer based on the outcome of this review. Credit limits are reviewed at least annually for existing customers. We monitor our ongoing credit exposure through active review of counterparty balances against contract terms and due dates. Our activities are performed at both the country/entity level as well as the regional level. Monitoring and review activities include account reconciliations, analysis of aged receivables, resolution status review for disputed amounts, and identification and remediation of counterparties experiencing payment issues. Our management reviews current credit exposure at least quarterly based on level of risk and amount of exposure. When necessary, we utilize collection agencies and legal counsel to pursue recovery of defaulted receivables. Trade receivable balances are written off when deemed to be uncollectible and after collection efforts have been exhausted. Our annual historical credit losses have been approximately 0.1%, or less, of net trade sales annually over the last three years.
Equity Investments	Equity Investments
Inventories, Net	Inventories, Net Our inventories are determined using the FIFO method or a weighted average for some raw materials. We state inventories at the lower of cost or net realizable value. Costs related to inventories include raw materials, direct labor and manufacturing overhead which are included in Cost of sales on the Consolidated Statements of Operations.
Property and Equipment, Net	Property and Equipment, Net We state property and equipment at cost, except for property and equipment that have been impaired, for which we reduce the carrying amount to the estimated fair value at the impairment date. We capitalize significant improvements and charge repairs and maintenance costs that do not extend the lives of the assets to expense as incurred. We remove the cost and accumulated depreciation of assets sold or otherwise disposed of from the accounts and recognize any resulting gain or loss upon the disposition of the assets. We depreciate the cost of property and equipment over their estimated useful lives on a straight-line basis as follows: buildings, including leasehold improvements — 10 to 40 years; machinery and equipment — 5 to 10 years; and other property and equipment — 2 to 10 years.
Lessee, Leases	Leases SEE is involved in leasing activity as both a lessee and a lessor. SEE is the lessor primarily for equipment used by our customers to meet their packaging needs. SEE is the lessee of property used for production and for sales and administrative functions, including real property, buildings, manufacturing and office equipment, offices and automobiles. We recognize a right-of-use (“ROU”) asset and lease liability for all leases with terms of more than 12 months, in accordance with ASC 842. We utilize the short-term lease recognition exemption for all asset classes as part of our ongoing accounting under ASC 842. This means, for those leases that qualify, we will not recognize ROU assets or lease liabilities. Recognition, measurement and presentation of expenses depends on classification as a finance or operating lease. As a lessee, we utilize the reasonably certain threshold criteria in determining which options we will exercise. Furthermore, some of our lease payments are based on index rates with minimum annual increases. These represent fixed payments and are captured in the future minimum lease payments calculation. In determining the discount rate to use in calculating the present value of lease payments, we estimate the rate of interest we would pay on a collateralized loan with the same payment terms as the lease by utilizing our bond yields traded in the secondary market to determine the estimated cost of funds for the particular tenor. We update our assumptions and discount rates on a quarterly basis. We have also elected the practical expedient to not separate lease and non-lease components for all asset classes, meaning all consideration that is fixed, or in-substance fixed, will be captured as part of our lease components for balance sheet purposes. Furthermore, all variable payments included in lease agreements will be disclosed as variable lease expense when incurred. Generally, variable lease payments are based on usage and common area maintenance. These payments will be included as variable lease expense when recognized. Our contractual obligations for operating leases as a lessor 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.
Lessor, Leases	Leases SEE is involved in leasing activity as both a lessee and a lessor. SEE is the lessor primarily for equipment used by our customers to meet their packaging needs. SEE is the lessee of property used for production and for sales and administrative functions, including real property, buildings, manufacturing and office equipment, offices and automobiles. We recognize a right-of-use (“ROU”) asset and lease liability for all leases with terms of more than 12 months, in accordance with ASC 842. We utilize the short-term lease recognition exemption for all asset classes as part of our ongoing accounting under ASC 842. This means, for those leases that qualify, we will not recognize ROU assets or lease liabilities. Recognition, measurement and presentation of expenses depends on classification as a finance or operating lease. As a lessee, we utilize the reasonably certain threshold criteria in determining which options we will exercise. Furthermore, some of our lease payments are based on index rates with minimum annual increases. These represent fixed payments and are captured in the future minimum lease payments calculation. In determining the discount rate to use in calculating the present value of lease payments, we estimate the rate of interest we would pay on a collateralized loan with the same payment terms as the lease by utilizing our bond yields traded in the secondary market to determine the estimated cost of funds for the particular tenor. We update our assumptions and discount rates on a quarterly basis. We have also elected the practical expedient to not separate lease and non-lease components for all asset classes, meaning all consideration that is fixed, or in-substance fixed, will be captured as part of our lease components for balance sheet purposes. Furthermore, all variable payments included in lease agreements will be disclosed as variable lease expense when incurred. Generally, variable lease payments are based on usage and common area maintenance. These payments will be included as variable lease expense when recognized. Our contractual obligations for operating leases as a lessor 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.
Goodwill and Identifiable Intangible Assets, Net	Goodwill and Identifiable Intangible Assets, Net Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired, including the amount assigned to identifiable intangible assets. Identifiable intangible assets consist primarily of patents, licenses, trademarks, trade names, customer lists and relationships, non-compete agreements, software and technology-based intangibles and other contractual agreements. We amortize finite-lived identifiable intangible assets over the shorter of their stated or statutory duration or their estimated useful lives, currently ranging from an original useful life of 1 to 28 years, on a straight-line basis to their estimated residual values, and we review them for impairment upon the identification of events or changes in circumstances that indicate the carrying amount of the asset may not be recoverable.
Impairment and Disposal of Long-Lived Assets	Impairment and Disposal of Long-Lived Assets For finite-lived intangible assets, such as customer relationships, contracts, intellectual property, and for other long-lived assets, such as property, plant and equipment, whenever impairment indicators are present, we perform a review for impairment. The impairment model is a two-step test under which we first calculate the recoverability of the carrying value by comparing the undiscounted value of the projected cash flows associated with the asset or asset group, including its estimated residual value, to the carrying amount. If the cash flows associated with the asset or asset group are less than the carrying value, we calculate the fair value of the asset, or asset group. If the carrying amount is found to be greater than the fair value, we record an impairment loss for the excess of carrying value over the fair value. In addition, in all cases of an impairment review, we re-evaluate the remaining useful lives of the assets and modify them, as appropriate.
Self-Insurance	Self-Insurance We retain the obligation for specified claims and losses related to property, casualty, workers’ compensation and employee benefit claims. We accrue for outstanding reported claims and claims that have been incurred but not reported based upon management’s estimates of the aggregate liability for retained losses using historical experience, insurance company estimates and the estimated trends in claim values. Our estimates include management’s and independent insurance companies’ assumptions regarding economic conditions, the frequency and severity of claims and claim development patterns and settlement practices. These estimates and assumptions are monitored and evaluated on a periodic basis by management and are adjusted when warranted by changing circumstances. Although management believes the assumptions and estimates used provide a reasonable basis to adequately project and record estimated claim payments, actual results could differ significantly from the recorded liabilities.
Defined Benefit Pension Plans and Other Post-Employment Benefit Plans	Defined Benefit Pension Plans and Other Post-Employment Benefit Plans For a number of our U.S. and international employees, we maintain defined benefit pension plans and other post-employment benefit plans. We are required to make assumptions regarding the valuation of projected benefit obligations and accumulated benefit obligations, as well as the performance of plan assets for our defined benefit pension plans. We review and approve the assumptions made by our third-party actuaries regarding the valuation of benefit obligations and performance of plan assets. The most significant assumptions impacting the valuation of our benefit obligations and the related net benefit income or cost are the discount rate and the expected future rate of return on plan assets. The measurement date used to determine benefit obligations and the fair value of plan assets is December 31. In general, changes to these assumptions could impact our consolidated financial condition or results of operations. We recognize the funded status of each plan as the difference between the fair value of plan assets and the projected benefit obligation or accumulated benefit obligation. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability on our Consolidated Balance Sheets.
Treasury Stock	Treasury Stock The Company accounts for treasury stock under the cost method. Upon the retirement of treasury shares, the Company deducts the par value of the retired treasury shares from common stock and allocates the excess of cost over par between additional paid-in capital and retained earnings. Once retired, shares revert to authorized but unissued.
Net Earnings per Common Share	Net Earnings per Common Share The Company presents both basic and diluted earnings per share amounts. Basic earnings per share is calculated by dividing net earnings attributable to the Company by the weighted average number of common shares outstanding during the year. Diluted earnings per share is based upon the weighted average number of common and common equivalent shares outstanding during the year, which is calculated using the treasury stock method for outstanding share-based compensation awards.
Recently Adopted and Issued Accounting Standards	Recently Adopted 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. The Company adopted ASU 2022-04 on January 1, 2023, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. The adoption did not materially impact the Company's Consolidated Financial Statements. We facilitate a voluntary supply chain financing program to provide some of our suppliers with the opportunity to sell receivables due from us (our accounts payables) to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. This program is administered by participating financial institutions. When a supplier utilizes the supply chain financing program, the supplier receives a payment in advance of agreed payment terms from the financial institution, net of a discount charged. Our responsibility is limited to making payments to the respective financial institutions on the terms originally negotiated with our supplier. No assets are pledged as collateral by the Company or any of our subsidiaries under the program. The majority of suppliers using the program are on 120 day payment terms after the end of the month in which the invoice was issued. We monitor our days payable outstanding relative to our peers and industry trends in order to assess our conclusion that the program continues to be a trade payable program and not indicative of a borrowing arrangement. The liabilities continue to be presented as Accounts payable in our Consolidated Balance Sheets until they are paid, and they are reflected as Cash flows from operating activities when settled. At December 31, 2023 and December 31, 2022, our accounts payable balances included $153.0 million and $139.7 million, respectively, related to invoices from suppliers participating in the program. 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. The Company adopted ASU 2021-08 on January 1, 2023. The adoption did not have a material impact on the Company's Consolidated Financial Statements. Recently Issued Accounting Standards In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 requires the annual disclosure of specific categories in the rate reconciliation and additional information for the reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate). ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"). ASU 2023-07 requires annual and interim disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), the disclosure and description of other segment items, the inclusion of all current annual disclosures about a reportable segment in interim periods, allows for disclosure of multiple

Revenue Recognition, Contract_2

Revenue Recognition, Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers Summarized by Segment Geography	For the years ended December 31, 2023, 2022 and 2021, revenues from contracts with customers summarized by Segment and Geographic region were as follows: Year Ended December 31, 2023 (In millions) Food Protective Total Americas $ 2,297.8 $ 1,238.7 $ 3,536.5 EMEA 711.1 434.4 1,145.5 APAC 467.6 290.4 758.0 Topic 606 Segment Revenue 3,476.5 1,963.5 5,440.0 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 43.2 5.7 48.9 Total $ 3,519.7 $ 1,969.2 $ 5,488.9 Year Ended December 31, 2022 (In millions) Food Protective Total Americas $ 2,170.9 $ 1,521.1 $ 3,692.0 EMEA 682.7 473.4 1,156.1 APAC 436.9 323.5 760.4 Topic 606 Segment Revenue 3,290.5 2,318.0 5,608.5 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 26.7 6.7 33.4 Total $ 3,317.2 $ 2,324.7 $ 5,641.9 Year Ended December 31, 2021 (In millions) Food Protective Total Americas $ 1,948.9 $ 1,542.8 $ 3,491.7 EMEA 681.4 515.3 1,196.7 APAC 449.5 356.9 806.4 Topic 606 Segment Revenue 3,079.8 2,415.0 5,494.8 Non-Topic 606 Revenue (Leasing: Sales-type and Operating) 33.0 6.0 39.0 Total $ 3,112.8 $ 2,421.0 $ 5,533.8
Contract Liabilities From Contracts with Customers	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 Consolidated Balance Sheets as of December 31, 2023 and 2022: December 31, (In millions) 2023 2022 Contract assets $ 0.4 $ 0.5 Contract liabilities $ 19.9 $ 18.2
Summary of Estimated Transaction Price Allocated to Performance Obligations or Portions of Performance Obligations Not Yet Satisfied	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 December 31, 2023 and 2022, as well as the expected timing of recognition of that transaction price. December 31, (In millions) 2023 2022 Short-Term (12 months or less) (1) $ 13.3 $ 13.0 Long-Term 6.6 5.2 Total transaction price $ 19.9 $ 18.2 (1) Our enforceable contractual obligations tend to be short term in nature. The table above does not include the transaction price of any remaining performance obligations that are part of the contracts with expected durations of one year or less.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023 and 2022 were as follows: December 31, (In millions) 2023 2022 Short-Term (12 months or less) $ 8.5 $ 6.5 Long-Term 33.3 18.6 Lease receivables $ 41.8 $ 25.1
Assets and Liabilities, Lessee	The following table details our lease obligations included in our Consolidated Balance Sheets. December 31, (In millions) 2023 2022 Other non-current assets: Finance leases - ROU assets $ 36.0 $ 55.0 Finance leases - Accumulated depreciation (14.9) (31.7) Operating lease right-of-use-assets: Operating leases - ROU assets 203.1 156.7 Operating leases - Accumulated depreciation (116.6) (86.5) Total lease assets $ 107.6 $ 93.5 Current portion of long-term debt: Finance leases $ (6.7) $ (7.6) Current portion of operating lease liabilities: Operating leases (29.2) (24.0) Long-term debt, less current portion: Finance leases (12.8) (16.1) Long-term operating lease liabilities, less current portion: Operating leases (66.7) (49.6) Total lease liabilities $ (115.4) $ (97.3)
Finance Leases, Future Minimum Annual Rental Commitments	At December 31, 2023, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows: (In millions) Finance leases Operating leases 2024 $ 8.1 $ 33.3 2025 5.0 26.8 2026 3.1 20.8 2027 1.5 11.8 2028 0.8 7.0 Thereafter 8.0 9.0 Total lease payments 26.5 108.7 Less: Interest (7.0) (12.8) Present value of lease liabilities $ 19.5 $ 95.9
Operating Leases, Future Minimum Annual Rental Commitments	At December 31, 2023, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows: (In millions) Finance leases Operating leases 2024 $ 8.1 $ 33.3 2025 5.0 26.8 2026 3.1 20.8 2027 1.5 11.8 2028 0.8 7.0 Thereafter 8.0 9.0 Total lease payments 26.5 108.7 Less: Interest (7.0) (12.8) Present value of lease liabilities $ 19.5 $ 95.9
Schedule of Lease Costs and Other Information	The following lease cost is included in our Consolidated Statements of Operations: December 31, (In millions) 2023 2022 Lease cost (1) Finance leases Amortization of ROU assets $ 10.0 $ 10.5 Interest on lease liabilities 1.8 1.3 Operating leases 37.5 33.2 Short-term lease cost 3.5 2.7 Variable lease cost 6.6 7.0 Total lease cost $ 59.4 $ 54.7 (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 Consolidated Statements of Operations, depending on the use of the leased asset. Interest on lease liabilities is recorded to Interest expense, net on the Consolidated Statements of Operations. The following table details cash paid related to operating and finance leases included in our Consolidated Statements of Cash Flows and new ROU assets included in our Consolidated Balance Sheets: December 31, (In millions) 2023 2022 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - finance leases $ 4.3 $ 5.4 Operating cash flows - operating leases $ 37.7 $ 30.6 Financing cash flows - finance leases $ 9.0 $ 10.0 ROU assets obtained in exchange for new finance lease liabilities $ 16.7 $ 8.8 ROU assets obtained in exchange for new operating lease liabilities $ 49.9 $ 34.4 December 31, 2023 2022 Weighted average information: Finance leases Remaining lease term (in years) 6.4 6.1 Discount rate 7.4 % 4.9 % Operating leases Remaining lease term (in years) 4.1 4.2 Discount rate 5.8 % 4.8 %

Acquisition and Divestiture A_2

Acquisition and Divestiture Activity (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of Consideration Transferred and Purchase Price Allocation of Assets Acquired and Liabilities Assumed	Preliminary Allocation Measurement Period Final Allocation (In millions) As of February 1, 2023 Adjustments December 31, 2023 Total consideration transferred $ 1,169.2 $ (2.1) $ 1,167.1 Assets acquired: Cash and cash equivalents 21.2 — 21.2 Trade receivables 48.6 (0.8) 47.8 Inventories 61.6 (2.8) 58.8 Prepaid expenses and other current assets 15.8 (1.7) 14.1 Property and equipment 101.1 (8.2) 92.9 Identifiable intangible assets 342.1 4.2 346.3 Operating lease right-of-use-assets 15.1 — 15.1 Other non-current assets 9.5 (1.5) 8.0 Total assets acquired $ 615.0 $ (10.8) $ 604.2 Liabilities assumed: Accounts payable 27.0 (1.4) 25.6 Current portion of long-term debt 0.1 — 0.1 Current portion of operating lease liabilities 3.7 — 3.7 Other current liabilities 28.4 2.8 31.2 Long-term debt, less current portion 5.1 — 5.1 Long-term operating lease liabilities, less current portion 11.4 — 11.4 Deferred taxes 92.2 (35.1) 57.1 Other non-current liabilities 6.6 (4.2) 2.4 Total liabilities assumed $ 174.5 $ (37.9) $ 136.6 Net assets acquired 440.5 27.1 467.6 Goodwill $ 728.7 $ (29.2) $ 699.5
Summary of Identifiable intangible Assets, Net and Their Useful Life	The following table summarizes the identifiable intangible assets and their useful lives. Amount Useful life (In millions) (In years) Customer relationships $ 186.4 11.0 Trademarks and tradenames 26.0 10.0 Software 3.7 2.0 Technology 130.2 12.0 Total intangible assets with definite lives $ 346.3
Schedule of Business Acquisitions, by Acquisition	The following table presents the amounts of net sales and net earnings attributed to Liquibox since the acquisition date that are included in our Consolidated Statements of Operations for the year ended December 31, 2023: (In millions) February 1, 2023 through December 31, 2023 Net sales $ 284.3 Net earnings $ 2.6
Business Acquisition, Pro Forma Information	The unaudited pro forma information is not necessarily indicative of the results that might have occurred had the transaction actually taken place on January 1, 2022 and is not intended to be a projection of future results and gives no effect to any future synergistic benefits that may result from the combination or the costs of integrating the acquired operations with those of the Company. Year Ended December 31, (In millions) 2023 2022 Net sales $ 5,514.5 $ 6,003.4 Net earnings $ 351.2 $ 380.2

Segments (Tables)

Segments (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Net Sales and Adjusted EBITDA of Reportable Segments	The following tables show Net sales and Segment Adjusted EBITDA by reportable segment: Year Ended December 31, (In millions) 2023 2022 2021 Net sales Food $ 3,519.7 $ 3,317.2 $ 3,112.8 As a % of Consolidated net sales 64.1 % 58.8 % 56.3 % Protective 1,969.2 2,324.7 2,421.0 As a % of Consolidated net sales 35.9 % 41.2 % 43.7 % Consolidated Net sales $ 5,488.9 $ 5,641.9 $ 5,533.8 Year Ended December 31, (In millions) 2023 2022 2021 Segment Adjusted EBITDA Food $ 775.0 $ 755.1 $ 688.4 Adjusted EBITDA Margin 22.0 % 22.8 % 22.1 % Protective 361.8 465.6 446.2 Adjusted EBITDA Margin 18.4 % 20.0 % 18.4 % Total Segment Adjusted EBITDA $ 1,136.8 $ 1,220.7 $ 1,134.6
Reconciliation of Segment Adjusted EBITDA to Earnings	The following table shows a reconciliation of Segment Adjusted EBITDA to Earnings before income tax provision: Year Ended December 31, (In millions) 2023 2022 2021 Food Adjusted EBITDA $ 775.0 $ 755.1 $ 688.4 Protective Adjusted EBITDA 361.8 465.6 446.2 Corporate Adjusted EBITDA (30.2) (10.5) (3.0) Interest expense, net (263.0) (162.3) (167.8) Depreciation and amortization, net of adjustments (1) (239.6) (236.8) (232.2) Special Items: Liquibox intangible amortization (2) (27.9) — — Liquibox inventory step-up amortization (10.2) — — Restructuring charges (3) (15.6) (12.1) (14.5) Other restructuring associated costs (4) (34.5) (9.3) (16.5) Foreign currency exchange loss due to highly inflationary economies (23.1) (8.8) (3.6) Loss on debt redemption and refinancing activities (13.2) (11.2) (18.6) Impairment (loss)/fair value gain on equity investments, net — (30.6) 6.6 Impairment of debt investment — — (8.0) Contract terminations (5) (14.6) — — Charges related to acquisition and divestiture activity (28.3) (3.1) (2.6) Gain on sale of Reflectix — — 45.3 CEO severance (6.1) — — Other Special Items (6) (0.8) (6.7) (3.5) Pre-tax impact of Special Items (174.3) (81.8) (15.4) Earnings before income tax provision $ 429.7 $ 729.3 $ 716.2 (1) Net of Liquibox intangible amortization of $27.9 million for the year ended December 31, 2023, which is included under Special Items. Depreciation and amortization by segment were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Food $ 175.7 $ 137.1 $ 129.1 Protective 91.8 99.7 103.1 Total Company depreciation and amortization (i) 267.5 236.8 232.2 Liquibox intangible amortization (2) (27.9) — — Depreciation and amortization, net of adjustments $ 239.6 $ 236.8 $ 232.2 (i) Includes share-based incentive compensation of $34.2 million in 2023, $52.3 million in 2022 and $45.8 million in 2021. (2) As of 2023, the Company is including, within its definition of Special Items, amortization expenses of intangibles from the Liquibox acquisition and future significant acquisitions. (3) Restructuring charges by segment were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Food $ 8.2 $ 8.3 $ 7.2 Protective 7.4 3.8 7.3 Total Company restructuring charges $ 15.6 $ 12.1 $ 14.5 (4) Other restructuring associated costs for the year ended December 31, 2023 primarily consists of impairment of property and equipment and inventory obsolescence charges related to business closure activity. Other restructuring associated costs for the year ended December 31, 2022 primarily relate to fees paid to third-party consultants in support of our Reinvent SEE business transformation and site consolidation costs. (5) Contract terminations for the year ended December 31, 2023 primarily relates to charges associated with business closure activities. (6) Other Special Items for the year ended December 31, 2023 primarily relate to a one-time, non-cash cumulative translation adjustment loss recognized due to the wind-up of one of our legal entities and fees related to professional services, including legal fees, directly associated with Special Items of events that are considered one-time or infrequent in nature, partially offset by a gain on the disposal of a building and land in Brazil and gain associated with a legal settlement. Other Special Items for the years ended December 31, 2022 and 2021 primarily included fees related to professional services, including legal fees, directly associated with Special Items of events that are considered one-time or infrequent in nature. For the year ended December 31, 2022, these fees were partially offset by a one-time gain on the disposal of land in the UK.
Assets Allocated 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. December 31, (In millions) 2023 2022 Assets allocated to segments: Food $ 3,386.4 $ 2,342.6 Protective 2,663.4 2,795.7 Total segments $ 6,049.8 $ 5,138.3 Assets not allocated: Cash and cash equivalents 346.1 456.1 Income tax receivables 44.9 40.3 Other receivables 94.2 91.5 Advances and deposits 72.8 12.7 Deferred taxes 130.8 141.5 Other 462.0 334.3 Total $ 7,200.6 $ 6,214.7
Geographic Information	Geographic Information The following table shows net sales and total long-lived assets allocated by geography. Sales are attributed to the country/region in which they originate. Year Ended December 31, (In millions) 2023 2022 2021 Net sales (1) : Americas (1) $ 3,578.3 $ 3,718.5 $ 3,522.3 EMEA 1,149.3 1,160.0 1,200.0 APAC 761.3 763.4 811.5 Total $ 5,488.9 $ 5,641.9 $ 5,533.8 Total long-lived assets (2) : Americas (2) $ 1,122.4 $ 1,052.1 EMEA 418.6 375.0 APAC 234.0 216.4 Total $ 1,775.0 $ 1,643.5 (1) U.S. net sales were $2,913.6 million, $3,073.0 million and $2,925.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. No non-U.S. country accounted for net sales in excess of 10% of consolidated net sales for the years ended December 31, 2023, 2022 or 2021. Sales are allocated to the country/region based on where each sale originated. (2) Total long-lived assets represent total assets excluding total current assets, deferred tax assets, goodwill, and intangible assets. Total long-lived assets in the U.S. were $1,044.2 million and $977.0 million at December 31, 2023 and 2022, respectively. No non-U.S. country had long-lived assets in excess of 10% of consolidated long-lived assets at December 31, 2023 or 2022.

Inventories, net (Tables)

Inventories, net (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventories	The following table details our inventories, net: December 31, (In millions) 2023 2022 Raw materials $ 165.3 $ 229.9 Work in process 178.5 187.1 Finished goods 430.5 449.3 Total $ 774.3 $ 866.3

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	The following table details our property and equipment, net. December 31, (In millions) 2023 2022 Land and improvements $ 47.5 $ 44.1 Buildings 835.8 783.1 Machinery and equipment 2,811.5 2,612.3 Other property and equipment 142.0 124.5 Construction-in-progress 227.0 222.4 Property and equipment, gross 4,063.8 3,786.4 Accumulated depreciation and amortization (2,647.4) (2,510.5) Property and equipment, net $ 1,416.4 $ 1,275.9
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. Year Ended December 31, (In millions) 2023 2022 2021 Interest cost capitalized $ 13.1 $ 8.9 $ 6.8 Depreciation and amortization expense (1) $ 170.7 $ 148.5 $ 147.6 (1) Includes amortization expense of finance lease ROU assets of $10.0 million, $10.5 million, and $10.6 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Goodwill and Identifiable Int_2

Goodwill and Identifiable Intangible Assets, net (Tables)	12 Months Ended
	Dec. 31, 2023
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 (49.3) (140.9) (190.2) Carrying Value at December 31, 2021 $ 527.3 $ 1,662.1 $ 2,189.4 Acquisition (1) 5.2 — 5.2 Currency translation (9.6) (11.0) (20.6) Gross Carrying Value at December 31, 2022 $ 572.2 $ 1,792.0 $ 2,364.2 Accumulated amortization (49.0) (140.7) (189.7) Carrying Value at December 31, 2022 $ 523.2 $ 1,651.3 $ 2,174.5 Acquisition (2) 707.4 — 707.4 Currency translation 4.7 6.1 10.8 Gross Carrying Value at December 31, 2023 $ 1,284.3 $ 1,798.1 $ 3,082.4 Accumulated amortization (3) (49.1) (140.8) (189.9) Carrying Value at December 31, 2023 $ 1,235.2 $ 1,657.3 $ 2,892.5 (1) Represents the allocation of goodwill related to our acquisition of Foxpak. See Note 5, "Acquisition and Divestiture Activity," for further details. (2) Represents amounts allocated to goodwill resulting from acquisitions, primarily for Liquibox. See Note 5, "Acquisition and Divestiture Activity," for further details. (3) The change in accumulated amortization from December 31, 2022 to December 31, 2023 is due to the impact of foreign currency translation.
Summary of Identifiable Intangible Assets with Definite and Indefinite Useful Lives	The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of December 31, 2023, there were no impairment indicators present. December 31, 2023 December 31, 2022 (In millions) Gross Accumulated Net Gross Accumulated Net Customer relationships $ 287.7 $ (69.3) $ 218.4 $ 99.5 $ (47.1) $ 52.4 Trademarks and tradenames 57.0 (19.4) 37.6 30.8 (14.4) 16.4 Software 148.2 (112.8) 35.4 147.7 (111.3) 36.4 Technology 197.5 (60.1) 137.4 67.0 (44.3) 22.7 Contracts 11.5 (10.2) 1.3 11.4 (9.8) 1.6 Total intangible assets with definite lives 701.9 (271.8) 430.1 356.4 (226.9) 129.5 Trademarks and tradenames with indefinite lives 8.9 — 8.9 8.9 — 8.9 Total identifiable intangible assets, net $ 710.8 $ (271.8) $ 439.0 $ 365.3 $ (226.9) $ 138.4
Remaining Estimated Future Amortization Expense	The following table shows the estimated future amortization expense at December 31, 2023. Year Amount (In millions) 2024 $ 63.0 2025 56.7 2026 44.5 2027 39.5 2028 39.1 Thereafter 187.3 Total $ 430.1
Remaining Weighted Average Useful Life of Definite Lived Intangible Assets	The following table shows the remaining weighted average useful life of our definite lived intangible assets as of December 31, 2023. Remaining weighted average useful lives Customer relationships 9.8 Trademarks and tradenames 8.3 Software 2.1 Technology 10.2 Contracts 3.8 Total identifiable intangible assets, net with definite lives 9.2

Restructuring Activities (Table

Restructuring Activities (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring Spent and Estimated to Be Incurred	CTO2Grow Program restructuring spend is estimated to be incurred as follows: Total Restructuring Program Range Less Program Activity to Date Remaining Restructuring (In millions) Low High Low High Costs of reduction in headcount as a result of reorganization $ 90 $ 95 $ (17) $ 73 $ 78 Other associated costs 20 25 (1) 19 24 Contract terminations 25 30 (15) 10 15 Total cash expense $ 135 $ 150 $ (33) $ 102 $ 117 Capital expenditures 5 10 — 5 10 Total estimated cash cost (1) $ 140 $ 160 $ (33) $ 107 $ 127 Total estimated non-cash expense (2) $ 33 $ 33 $ (33) $ — $ — Total estimated expense (3) $ 168 $ 183 $ (66) $ 102 $ 117 (1) Total estimated cash cost excludes the impact of proceeds expected from the sale of property and equipment and foreign currency impact. (2) Reflects actual expenses that have been incurred. Ranges associated with future non-cash expenses related to the CTO2Grow Program are difficult to estimate and are not available without unreasonable efforts, as these typically relate to exit and disposal activities. (3) Total estimated expense excludes capital expenditures.
Restructuring and Relocation Activities	Year Ended December 31, (In millions) 2023 2022 2021 Other associated costs $ 34.5 $ 9.3 $ 16.5 Contract terminations 14.6 — — Restructuring charges 15.6 12.1 14.5 Total charges $ 64.7 $ 21.4 $ 31.0 Capital expenditures $ 0.4 $ 9.7 $ 8.2
Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining	The aggregate restructuring accrual, spending and other activity for the years ended December 31, 2023, 2022 and 2021 and the accrual balance remaining at those year-ends were as follows: (In millions) Restructuring accrual at December 31, 2020 $ 14.3 Accrual and accrual adjustments 14.5 Cash payments during 2021 (16.9) Effect of changes in foreign currency exchange rates (0.6) Restructuring accrual at December 31, 2021 $ 11.3 Accrual and accrual adjustments 12.1 Cash payments during 2022 (8.6) Effect of changes in foreign currency exchange rates (0.1) Restructuring accrual at December 31, 2022 $ 14.7 Headcount accrual and accrual adjustments 15.6 Contract termination accrual and adjustments 11.0 Cash payments during 2023 (17.2) Effect of changes in foreign currency exchange rates 0.2 Restructuring accrual at December 31, 2023 (1) $ 24.3 (1) Excludes $3.7 million of remaining lease obligations on terminated contracts included in Current portion of operating lease liabilities and Long-term operating lease liabilities, less current portion on our Consolidated Balance Sheets.

Other Current and Non-Current_2

Other Current and Non-Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Components of Other Current and Other Non-Current Liabilities	The following tables detail our other current liabilities and other non-current liabilities at December 31, 2023 and 2022: December 31, (In millions) 2023 2022 Other current liabilities: Accrued salaries, wages and related costs $ 164.1 $ 188.2 Accrued operating expenses and other 167.6 193.8 Uncertain tax position liability 1.7 201.3 Accrued customer volume rebates 100.9 97.4 Accrued interest 52.7 36.3 Total $ 487.0 $ 717.0 December 31, (In millions) 2023 2022 Other non-current liabilities: Accrued employee benefit liability $ 116.6 $ 102.6 Other postretirement liability 25.8 28.3 Uncertain tax position liability 288.3 264.0 Other various liabilities 95.0 73.0 Total $ 525.7 $ 467.9

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Total Debt Outstanding	Our total debt outstanding consisted of the amounts set forth in the following table: December 31, (In millions) Interest rate 2023 2022 Short-term borrowings (1) $ 140.7 $ 6.6 Current portion of long-term debt (2) 35.7 434.0 Total current debt 176.4 440.6 Term Loan A due March 2027 1,021.1 506.6 Senior Notes due December 2024 5.125 % — 423.5 Senior Notes due September 2025 5.500 % 399.1 398.7 Senior Secured Notes due October 2026 1.573 % 597.0 596.0 Senior Notes due December 2027 4.000 % 422.5 421.9 Senior Notes due February 2028 6.125 % 764.8 — Senior Notes due April 2029 5.000 % 421.7 421.2 Senior Notes due February 2031 7.250 % 420.9 — Senior Notes due July 2033 6.875 % 446.7 446.4 Other (2) 20.1 23.6 Total long-term debt, less current portion (3) 4,513.9 3,237.9 Total debt (4) $ 4,690.3 $ 3,678.5 (1) Short-term borrowings of $140.7 million at December 31, 2023 were comprised of $86.7 million under our European securitization program, $46.5 million under our U.S. securitization program, and $7.5 million from various lines of credit. Short-term borrowings of $6.6 million at December 31, 2022 were from various lines of credit. (2) As of December 31, 2023, Current portion of long-term debt included finance lease liabilities of $ 6.7 million 7.6 million 12.8 million 16.1 million (3) Amounts are shown net of unamortized discounts and issuance costs of $36.9 million and $18.9 million as of December 31, 2023 and 2022, respectively. (4) As of December 31, 2023, our weighted average interest rate on our short-term borrowings outstanding was 5.3% and on our long-term debt outstanding was 5.6%. As of December 31, 2022, our weighted average interest rate on our short-term borrowings outstanding was 2.8% and on our long-term debt outstanding was 4.6%.
Scheduled Annual Maturities for Next Five Years and Thereafter	The following table summarizes the scheduled annual maturities for the next five years and thereafter of our long-term debt, including the current portion of long-term debt and finance leases. This schedule represents the principal amount outstanding, and therefore excludes debt discounts, the effect of present value discounting for finance lease obligations, interest rate swaps, and lender and finance fees. Year Amount (In millions) 2024 $ 37.1 2025 463.1 2026 661.1 2027 1,348.4 2028 775.7 Thereafter 1,308.0 Total $ 4,593.4
Schedule of Available Lines of Credit	The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including the revolving credit facility, and the amounts available under our accounts receivable securitization programs. December 31, (In millions) 2023 2022 Used lines of credit (1) $ 140.7 $ 6.6 Unused lines of credit 1,134.7 1,261.0 Total available lines of credit (2) $ 1,275.4 $ 1,267.6 (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)

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2023
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 Consolidated Balance Sheets. Cash Flow Hedge Net Investment Hedge Non-Designated as Hedging Instruments Total December 31, December 31, December 31, December 31, (In millions) 2023 2022 2023 2022 2023 2022 2023 2022 Derivative Assets Foreign currency forward contracts $ 0.2 $ 2.1 $ — $ — $ 4.9 $ 5.8 $ 5.1 $ 7.9 Total Derivative Assets $ 0.2 $ 2.1 $ — $ — $ 4.9 $ 5.8 $ 5.1 $ 7.9 Derivative Liabilities Foreign currency forward contracts $ (2.7) $ (0.8) $ — $ — $ (1.6) $ (2.4) $ (4.3) $ (3.2) Cross-currency swaps — — (19.9) — — — (19.9) — Total Derivative Liabilities (1) $ (2.7) $ (0.8) $ (19.9) $ — $ (1.6) $ (2.4) $ (24.2) $ (3.2) Net Derivatives (2) $ (2.5) $ 1.3 $ (19.9) $ — $ 3.3 $ 3.4 $ (19.1) $ 4.7 (1) Excludes €400.0 million of euro-denominated debt that was repaid in February 2023 ($426.0 million equivalent at December 31, 2022), which was designated as a net investment hedge. See Note 14, "Debt and Credit Facilities," for additional details. (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 Other Non-current Liabilities December 31, December 31, December 31, (In millions) 2023 2022 2023 2022 2023 2022 Gross position $ 5.1 $ 7.9 $ (4.3) $ (3.2) $ (19.9) $ — Impact of master netting agreements (1.1) (1.1) 1.1 1.1 — — Net amounts recognized on the Consolidated Balance Sheets $ 4.0 $ 6.8 $ (3.2) $ (2.1) $ (19.9) $ —
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 Other Non-current Liabilities December 31, December 31, December 31, (In millions) 2023 2022 2023 2022 2023 2022 Gross position $ 5.1 $ 7.9 $ (4.3) $ (3.2) $ (19.9) $ — Impact of master netting agreements (1.1) (1.1) 1.1 1.1 — — Net amounts recognized on the Consolidated Balance Sheets $ 4.0 $ 6.8 $ (3.2) $ (2.1) $ (19.9) $ —
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 Other Non-current Liabilities December 31, December 31, December 31, (In millions) 2023 2022 2023 2022 2023 2022 Gross position $ 5.1 $ 7.9 $ (4.3) $ (3.2) $ (19.9) $ — Impact of master netting agreements (1.1) (1.1) 1.1 1.1 — — Net amounts recognized on the Consolidated Balance Sheets $ 4.0 $ 6.8 $ (3.2) $ (2.1) $ (19.9) $ —
Effect of Derivative Instruments on Condensed Consolidated Statements of Operations	The following table details the effect of our derivative instruments on our Consolidated Statements of Operations. Location of Gain (Loss) Recognized on Amount of Gain (Loss) Recognized in Consolidated Statements of Operations Year Ended December 31, (In millions) 2023 2022 2021 Derivatives designated as hedging instruments: Cash Flow Hedges: Foreign currency forward contracts Cost of sales $ 4.2 $ 10.9 $ (1.9) Treasury locks Interest expense, net 0.1 0.1 0.1 Sub-total cash flow hedges 4.3 11.0 (1.8) Derivatives not designated as hedging instruments: Foreign currency forward and option contracts Other expense, net 12.0 7.8 6.0 Total $ 16.3 $ 18.8 $ 4.2

Fair Value Measurements, Equi_2

Fair Value Measurements, Equity Investments and Other Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
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. December 31, 2023 (In millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 40.2 $ 40.2 $ — $ — Derivative financial and hedging instruments net asset (liability): Foreign currency forward contracts $ 0.8 $ — $ 0.8 $ — Cross-currency swaps $ (19.9) $ — $ (19.9) $ — December 31, 2022 (In millions) Total Fair Value Level 1 Level 2 Level 3 Cash equivalents $ 122.5 $ 122.5 $ — $ — Derivative financial and hedging instruments net asset: Foreign currency forward contracts $ 4.7 $ — $ 4.7 $ —
Carrying Value of Investments Without Readily Determinable Fair Value	The following carrying value of these investments were included within Other non-current assets in our Consolidated Balance Sheets. December 31, (In millions) 2023 2022 2021 Carrying value at the beginning of period $ 13.3 $ 45.8 $ 25.4 Purchases — — 14.7 Impairments or downward adjustments — (31.6) — Upward adjustments — — 6.6 Currency translation on investments 0.5 (0.9) (0.9) Carrying value at the end of period $ 13.8 $ 13.3 $ 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: December 31, 2023 December 31, 2022 (In millions) Interest rate Carrying Fair Carrying Fair Term Loan A due March 2027 (1) $ 1,050.1 $ 1,050.1 $ 506.6 $ 506.6 Senior Notes due September 2023 (1) 4.500 % — — 426.0 427.3 Senior Notes due December 2024 5.125 % — — 423.5 419.7 Senior Notes due September 2025 5.500 % 399.1 400.7 398.7 398.6 Senior Secured Notes due October 2026 1.573 % 597.0 539.5 596.0 521.7 Senior Notes due December 2027 4.000 % 422.5 399.4 421.9 386.6 Senior Notes due February 2028 6.125 % 764.8 780.8 — — Senior Notes due April 2029 5.000 % 421.7 410.8 421.2 400.2 Senior Notes due February 2031 7.250 % 420.9 450.3 — — Senior Notes due July 2033 6.875 % 446.7 477.0 446.4 448.8 Other foreign borrowings (1) 94.1 94.1 6.6 6.6 Other domestic borrowings 65.9 65.0 7.9 7.9 Total debt (2) $ 4,682.8 $ 4,667.7 $ 3,654.8 $ 3,524.0 (1) Includes borrowings denominated in currencies other than U.S. dollars. (2) The carrying amount and estimated fair value of debt exclude lease liabilities.

Profit Sharing, Retirement Sa_2

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The following table shows total benefit cost (income) related to our pension plans and the classification on our Consolidated Statements of Operations for the three years ended December 31: Year Ended December 31, (In millions) 2023 2022 2021 U.S. and international net periodic benefit cost included in cost of sales (1) $ 1.0 $ 1.2 $ 1.3 U.S. and international net periodic benefit cost included in selling, general and administrative expenses 2.4 3.1 3.8 U.S. and international net periodic benefit cost (income) and cost of special events included in other expense, net 4.8 (6.7) (6.3) Total benefit cost (income) $ 8.2 $ (2.4) $ (1.2) (1) The amount recorded in inventory for the years ended December 31, 2023, 2022 and 2021 was not material. The following table shows the components of our net periodic benefit cost (income) for the years ended December 31, for our pension plans: December 31, 2023 December 31, 2022 December 31, 2021 (In millions) U.S. International Total U.S. International Total U.S. International Total Components of net periodic benefit cost (income): Service cost $ 0.1 $ 3.3 $ 3.4 $ 0.1 $ 4.2 $ 4.3 $ 0.1 $ 5.0 $ 5.1 Interest cost 7.2 21.4 28.6 4.1 11.4 15.5 3.5 8.8 12.3 Expected return on plan assets (7.2) (21.8) (29.0) (9.0) (18.8) (27.8) (8.9) (18.5) (27.4) Amortization of net prior service cost — 0.2 0.2 — 0.3 0.3 — 0.3 0.3 Amortization of net actuarial loss 1.5 3.3 4.8 1.7 3.6 5.3 2.4 5.2 7.6 Net periodic benefit cost (income) 1.6 6.4 8.0 (3.1) 0.7 (2.4) (2.9) 0.8 (2.1) Cost of settlement — 0.2 0.2 — — — — 0.9 0.9 Total benefit cost (income) $ 1.6 $ 6.6 $ 8.2 $ (3.1) $ 0.7 $ (2.4) $ (2.9) $ 1.7 $ (1.2) The components of net periodic benefit cost were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Components of net periodic benefit cost: Interest cost 1.6 0.7 0.6 Amortization of net actuarial gain (0.1) (0.1) (0.2) Amortization of net prior service credit (0.3) (0.3) (0.3) Net periodic benefit cost $ 1.2 $ 0.3 $ 0.1 Impact of settlement/curtailment — — — Total benefit cost for fiscal year $ 1.2 $ 0.3 $ 0.1
Funded Status for Pension Plans	The following table presents our funded status for 2023 and 2022 for our U.S. and international pension plans. The measurement date used to determine benefit obligations and plan assets is December 31 for all material plans. December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Change in benefit obligation: Projected benefit obligation at beginning of period $ 139.5 $ 481.8 $ 621.3 $ 185.1 $ 714.1 $ 899.2 Service cost 0.1 3.3 3.4 0.1 4.2 4.3 Interest cost 7.2 21.4 28.6 4.1 11.4 15.5 Actuarial loss (gain) 3.3 31.5 34.8 (36.9) (173.2) (210.1) Settlement — (2.4) (2.4) — (2.0) (2.0) Benefits paid (14.7) (25.4) (40.1) (12.9) (23.4) (36.3) Employee contributions — 0.9 0.9 — 0.9 0.9 Other 0.1 — 0.1 — (0.3) (0.3) Foreign exchange impact — 27.5 27.5 — (49.9) (49.9) Projected benefit obligation at end of period $ 135.5 $ 538.6 $ 674.1 $ 139.5 $ 481.8 $ 621.3 Change in plan assets: Fair value of plan assets at beginning of period $ 113.5 $ 456.9 $ 570.4 $ 150.8 $ 677.5 $ 828.3 Actual return on plan assets 7.8 23.4 31.2 (24.4) (153.4) (177.8) Employer contributions — 9.1 9.1 — 8.7 8.7 Employee contributions — 0.9 0.9 — 0.9 0.9 Benefits paid (14.7) (25.4) (40.1) (12.9) (23.4) (36.3) Settlement — (2.5) (2.5) — (2.1) (2.1) Other — (0.4) (0.4) — (0.3) (0.3) Foreign exchange impact — 27.5 27.5 — (51.0) (51.0) Fair value of plan assets at end of period $ 106.6 $ 489.5 $ 596.1 $ 113.5 $ 456.9 $ 570.4 Underfunded status at end of year $ (28.9) $ (49.1) $ (78.0) $ (26.0) $ (24.9) $ (50.9) Accumulated benefit obligation at end of year $ 135.5 $ 528.9 $ 664.4 $ 139.5 $ 473.7 $ 613.2 December 31, (In millions) 2023 2022 Change in benefit obligations: Benefit obligation at beginning of period $ 33.3 $ 40.4 Interest cost 1.6 0.7 Actuarial gain (1.6) (5.0) Benefits paid, net (2.9) (2.8) Benefit obligation at end of period $ 30.4 $ 33.3 Change in plan assets: Fair value of plan assets at beginning of period $ — $ — Employer contribution 2.9 2.8 Benefits paid, net (2.9) (2.8) Fair value of plan assets at end of period $ — $ — Net amount recognized: Underfunded status $ (30.4) $ (33.3) Accumulated benefit obligation at end of year $ 30.4 $ 33.3 Amounts recognized in the consolidated balance sheets consist of: Current liability $ (4.6) $ (5.0) Non-current liability (25.8) (28.3) Net amount recognized $ (30.4) $ (33.3) Amounts recognized in accumulated other comprehensive loss consist of: Net actuarial gain $ (5.3) $ (3.8) Net prior service credit (1.3) (1.6) Total $ (6.6) $ (5.4)
Amounts Included in Consolidated Balance Sheets	Amounts included in the Consolidated Balance Sheets are summarized in the following table: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Other non-current assets $ — $ 40.9 $ 40.9 $ — $ 54.6 $ 54.6 Other current liabilities — (4.3) (4.3) — (4.1) (4.1) Other non-current liabilities (28.9) (87.7) (116.6) (26.0) (76.6) (102.6) Net amount recognized (1) $ (28.9) $ (51.1) $ (80.0) $ (26.0) $ (26.1) $ (52.1) (1) Includes the underfunded status of material plans as presented in the previous table, as well as the underfunded status of other plans deemed to be immaterial.
Amounts in Accumulated Other Comprehensive Loss, Not Yet Recognized	The amounts included in AOCL that have not yet been recognized as components of net periodic benefit cost at December 31, 2023 and 2022 are: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Unrecognized net prior service cost $ 0.3 $ 4.4 $ 4.7 $ 0.2 $ 4.7 $ 4.9 Unrecognized net actuarial loss 43.2 151.9 195.1 42.0 125.3 167.3 Total $ 43.5 $ 156.3 $ 199.8 $ 42.2 $ 130.0 $ 172.2
Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income)	Changes in plan assets and benefit obligations reflected in AOCL for the years ended December 31, 2023 and 2022 were as follows: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Current year actuarial loss (gain) $ 2.7 $ 29.9 $ 32.6 $ (3.5) $ (1.0) $ (4.5) Prior service cost occurring during the year 0.2 — 0.2 — — — Amortization of net actuarial loss (1.5) (3.3) (4.8) (1.7) (3.6) (5.3) Amortization of net prior service cost — (0.2) (0.2) — (0.3) (0.3) Settlement — (0.2) (0.2) — — — Total $ 1.4 $ 26.2 $ 27.6 $ (5.2) $ (4.9) $ (10.1) December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Current year actuarial gain $ (1.6) $ — $ (1.6) $ (4.9) $ (0.1) $ (5.0) Amortization of actuarial gain — 0.1 0.1 — 0.1 0.1 Amortization of prior service credit 0.3 — 0.3 0.3 — 0.3 Total $ (1.3) $ 0.1 $ (1.2) $ (4.6) $ — $ (4.6)
Information for Plans with Accumulated Benefit Obligations in Excess of Plan Assets	Information for plans with accumulated benefit obligations in excess of plan assets as of December 31, 2023 and 2022 are as follows: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Accumulated benefit obligation $ 135.5 $ 103.5 $ 239.0 $ 139.5 $ 90.3 $ 229.8 Fair value of plan assets 106.6 20.8 127.4 113.5 17.1 130.6
Information for Plans with Projected Benefit Obligations in Excess of Plan Assets	Information for plans with projected benefit obligations in excess of plan assets as of December 31, 2023 and 2022 are as follows: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Projected benefit obligation $ 135.5 $ 110.7 $ 246.2 $ 139.5 $ 97.6 $ 237.1 Fair value of plan assets (1) 106.6 20.8 127.4 113.5 18.3 131.8 (1) As of December 31, 2022, the projected benefit obligation for one of our international plans exceeded the fair value of plan assets and is included in this table. However, the corresponding accumulated benefit obligation was not in excess of the fair value of the plan assets, and as such is excluded from the preceding table.
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost	Weighted average assumptions used to determine benefit obligations at December 31, 2023 and 2022 were as follows: December 31, 2023 December 31, 2022 U.S. International U.S. International Benefit obligations Discount rate 5.1 % 3.9 % 5.5 % 4.5 % Rate of compensation increase N/A 2.5 % N/A 2.5 % Cash balance interest credit rate 3.9 % 1.4 % 4.2 % 2.2 % Weighted average assumptions used to determine net periodic benefit cost for the years ended December 31, were as follows: December 31, 2023 December 31, 2022 December 31, 2021 U.S. International U.S. International U.S. International Net periodic benefit cost Discount rate 5.5 % 4.5 % 2.8 % 1.9 % 2.4 % 1.4 % Expected long-term rate of return 6.7 % 4.8 % 6.3 % 3.1 % 6.3 % 2.8 % Rate of compensation increase N/A 2.5 % N/A 2.3 % N/A 2.3 % Cash balance interest credit rate 4.2 % 2.2 % 1.6 % 1.1 % 1.2 % 1.1 %
Estimated Future Benefit Payments	We expect the following estimated future benefit payments, which reflect expected future service as appropriate, to be paid in the years indicated: Amount (In millions) Year U.S. International Total 2024 $ 11.5 $ 29.9 $ 41.4 2025 11.0 28.3 39.3 2026 11.0 29.8 40.8 2027 10.8 29.9 40.7 2028 10.6 32.9 43.5 2029 to 2033 (combined) 50.9 173.7 224.6 Total $ 105.8 $ 324.5 $ 430.3 Expected post-retirement benefits (net of Medicare Part D subsidies) for each of the next five years and succeeding five years are as follows: Year Amount (In millions) 2024 $ 4.7 2025 4.0 2026 3.5 2027 3.1 2028 2.6 2029 to 2033 (combined) 9.8 Total $ 27.7
Fair Values of Pension Plan Assets, by Asset Category and Level of Fair Values	The fair values of our U.S. and international pension plan assets, by asset category and by the level of fair values are as follows: December 31, 2023 December 31, 2022 Total Total (In millions) Fair Value Level 1 Level 2 Level 3 NAV (5) Fair Value Level 1 Level 2 Level 3 NAV (5) Cash and cash equivalents (1) $ 6.9 $ 2.4 $ 4.5 $ — $ — $ 7.8 $ 3.0 $ 4.8 $ — $ — Fixed income funds (2) 290.5 — 174.5 — 116.0 261.0 — 155.2 — 105.8 Equity funds (3) 73.2 — 37.9 — 35.3 75.1 — 37.8 — 37.3 Other (4) 225.5 — 1.4 169.2 54.9 226.5 — 1.8 159.3 65.4 Total $ 596.1 $ 2.4 $ 218.3 $ 169.2 $ 206.2 $ 570.4 $ 3.0 $ 199.6 $ 159.3 $ 208.5 (1) Short-term investment fund that invests in a collective trust that holds short-term highly liquid investments with principal preservation and daily liquidity as its primary objectives. Investments are primarily comprised of certificates of deposit, government securities, commercial paper, and time deposits. (2) Fixed income funds that invest in a diversified portfolio primarily consisting of publicly traded government bonds and corporate bonds. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end. (3) Equity funds that invest in a diversified portfolio of publicly traded domestic and international common stock. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end. (4) The largest component of other assets are bulk annuity contracts (buy-ins). The other assets also include real estate and other alternative investments. (5)
Activity in Plan Asset Measured at Fair Value Using Level 3 Inputs	The following table shows the activity of our U.S. and international plan assets that are measured at fair value using Level 3 inputs. December 31, (In millions) 2023 2022 Balance at beginning of period $ 159.3 $ 211.9 Gain (loss) on assets still held at end of year 13.2 (41.2) Loss on assets sold during the year — (0.8) Purchases, sales, issuance, and settlements (12.9) 9.9 Foreign exchange gain (loss) 9.6 (20.5) Balance at end of period $ 169.2 $ 159.3

Other Post-Employment Benefit_2

Other Post-Employment Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Funded Status for Pension Plans	The following table presents our funded status for 2023 and 2022 for our U.S. and international pension plans. The measurement date used to determine benefit obligations and plan assets is December 31 for all material plans. December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Change in benefit obligation: Projected benefit obligation at beginning of period $ 139.5 $ 481.8 $ 621.3 $ 185.1 $ 714.1 $ 899.2 Service cost 0.1 3.3 3.4 0.1 4.2 4.3 Interest cost 7.2 21.4 28.6 4.1 11.4 15.5 Actuarial loss (gain) 3.3 31.5 34.8 (36.9) (173.2) (210.1) Settlement — (2.4) (2.4) — (2.0) (2.0) Benefits paid (14.7) (25.4) (40.1) (12.9) (23.4) (36.3) Employee contributions — 0.9 0.9 — 0.9 0.9 Other 0.1 — 0.1 — (0.3) (0.3) Foreign exchange impact — 27.5 27.5 — (49.9) (49.9) Projected benefit obligation at end of period $ 135.5 $ 538.6 $ 674.1 $ 139.5 $ 481.8 $ 621.3 Change in plan assets: Fair value of plan assets at beginning of period $ 113.5 $ 456.9 $ 570.4 $ 150.8 $ 677.5 $ 828.3 Actual return on plan assets 7.8 23.4 31.2 (24.4) (153.4) (177.8) Employer contributions — 9.1 9.1 — 8.7 8.7 Employee contributions — 0.9 0.9 — 0.9 0.9 Benefits paid (14.7) (25.4) (40.1) (12.9) (23.4) (36.3) Settlement — (2.5) (2.5) — (2.1) (2.1) Other — (0.4) (0.4) — (0.3) (0.3) Foreign exchange impact — 27.5 27.5 — (51.0) (51.0) Fair value of plan assets at end of period $ 106.6 $ 489.5 $ 596.1 $ 113.5 $ 456.9 $ 570.4 Underfunded status at end of year $ (28.9) $ (49.1) $ (78.0) $ (26.0) $ (24.9) $ (50.9) Accumulated benefit obligation at end of year $ 135.5 $ 528.9 $ 664.4 $ 139.5 $ 473.7 $ 613.2 December 31, (In millions) 2023 2022 Change in benefit obligations: Benefit obligation at beginning of period $ 33.3 $ 40.4 Interest cost 1.6 0.7 Actuarial gain (1.6) (5.0) Benefits paid, net (2.9) (2.8) Benefit obligation at end of period $ 30.4 $ 33.3 Change in plan assets: Fair value of plan assets at beginning of period $ — $ — Employer contribution 2.9 2.8 Benefits paid, net (2.9) (2.8) Fair value of plan assets at end of period $ — $ — Net amount recognized: Underfunded status $ (30.4) $ (33.3) Accumulated benefit obligation at end of year $ 30.4 $ 33.3 Amounts recognized in the consolidated balance sheets consist of: Current liability $ (4.6) $ (5.0) Non-current liability (25.8) (28.3) Net amount recognized $ (30.4) $ (33.3) Amounts recognized in accumulated other comprehensive loss consist of: Net actuarial gain $ (5.3) $ (3.8) Net prior service credit (1.3) (1.6) Total $ (6.6) $ (5.4)
Components of Net Periodic Benefit Cost	The following table shows total benefit cost (income) related to our pension plans and the classification on our Consolidated Statements of Operations for the three years ended December 31: Year Ended December 31, (In millions) 2023 2022 2021 U.S. and international net periodic benefit cost included in cost of sales (1) $ 1.0 $ 1.2 $ 1.3 U.S. and international net periodic benefit cost included in selling, general and administrative expenses 2.4 3.1 3.8 U.S. and international net periodic benefit cost (income) and cost of special events included in other expense, net 4.8 (6.7) (6.3) Total benefit cost (income) $ 8.2 $ (2.4) $ (1.2) (1) The amount recorded in inventory for the years ended December 31, 2023, 2022 and 2021 was not material. The following table shows the components of our net periodic benefit cost (income) for the years ended December 31, for our pension plans: December 31, 2023 December 31, 2022 December 31, 2021 (In millions) U.S. International Total U.S. International Total U.S. International Total Components of net periodic benefit cost (income): Service cost $ 0.1 $ 3.3 $ 3.4 $ 0.1 $ 4.2 $ 4.3 $ 0.1 $ 5.0 $ 5.1 Interest cost 7.2 21.4 28.6 4.1 11.4 15.5 3.5 8.8 12.3 Expected return on plan assets (7.2) (21.8) (29.0) (9.0) (18.8) (27.8) (8.9) (18.5) (27.4) Amortization of net prior service cost — 0.2 0.2 — 0.3 0.3 — 0.3 0.3 Amortization of net actuarial loss 1.5 3.3 4.8 1.7 3.6 5.3 2.4 5.2 7.6 Net periodic benefit cost (income) 1.6 6.4 8.0 (3.1) 0.7 (2.4) (2.9) 0.8 (2.1) Cost of settlement — 0.2 0.2 — — — — 0.9 0.9 Total benefit cost (income) $ 1.6 $ 6.6 $ 8.2 $ (3.1) $ 0.7 $ (2.4) $ (2.9) $ 1.7 $ (1.2) The components of net periodic benefit cost were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Components of net periodic benefit cost: Interest cost 1.6 0.7 0.6 Amortization of net actuarial gain (0.1) (0.1) (0.2) Amortization of net prior service credit (0.3) (0.3) (0.3) Net periodic benefit cost $ 1.2 $ 0.3 $ 0.1 Impact of settlement/curtailment — — — Total benefit cost for fiscal year $ 1.2 $ 0.3 $ 0.1
Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income)	Changes in plan assets and benefit obligations reflected in AOCL for the years ended December 31, 2023 and 2022 were as follows: December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Current year actuarial loss (gain) $ 2.7 $ 29.9 $ 32.6 $ (3.5) $ (1.0) $ (4.5) Prior service cost occurring during the year 0.2 — 0.2 — — — Amortization of net actuarial loss (1.5) (3.3) (4.8) (1.7) (3.6) (5.3) Amortization of net prior service cost — (0.2) (0.2) — (0.3) (0.3) Settlement — (0.2) (0.2) — — — Total $ 1.4 $ 26.2 $ 27.6 $ (5.2) $ (4.9) $ (10.1) December 31, 2023 December 31, 2022 (In millions) U.S. International Total U.S. International Total Current year actuarial gain $ (1.6) $ — $ (1.6) $ (4.9) $ (0.1) $ (5.0) Amortization of actuarial gain — 0.1 0.1 — 0.1 0.1 Amortization of prior service credit 0.3 — 0.3 0.3 — 0.3 Total $ (1.3) $ 0.1 $ (1.2) $ (4.6) $ — $ (4.6)
Expected Post-retirement Benefits	We expect the following estimated future benefit payments, which reflect expected future service as appropriate, to be paid in the years indicated: Amount (In millions) Year U.S. International Total 2024 $ 11.5 $ 29.9 $ 41.4 2025 11.0 28.3 39.3 2026 11.0 29.8 40.8 2027 10.8 29.9 40.7 2028 10.6 32.9 43.5 2029 to 2033 (combined) 50.9 173.7 224.6 Total $ 105.8 $ 324.5 $ 430.3 Expected post-retirement benefits (net of Medicare Part D subsidies) for each of the next five years and succeeding five years are as follows: Year Amount (In millions) 2024 $ 4.7 2025 4.0 2026 3.5 2027 3.1 2028 2.6 2029 to 2033 (combined) 9.8 Total $ 27.7

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Components of Earnings Before Income Tax Provision	The components of earnings before income tax provision were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Domestic $ 134.8 $ 434.0 $ 346.2 Foreign 294.9 295.3 370.0 Total $ 429.7 $ 729.3 $ 716.2
Components of Income Tax Provision	The components of our income tax provision were as follows: Year Ended December 31, (In millions) 2023 2022 2021 Current tax expense: Federal $ 23.6 $ 154.1 $ 63.1 State and local 13.2 25.6 17.2 Foreign 81.8 88.7 106.6 Total current expense $ 118.6 $ 268.4 $ 186.9 Deferred tax (benefit) expense: Federal $ (28.1) $ (23.4) $ 9.6 State and local (5.8) 2.3 6.9 Foreign 5.7 (9.3) 21.6 Total deferred tax (benefit) expense (28.2) (30.4) 38.1 Total income tax provision $ 90.4 $ 238.0 $ 225.0
Components of Deferred Tax Assets (Liabilities)	Deferred tax assets (liabilities) consist of the following: December 31, (In millions) 2023 2022 Accruals not yet deductible for tax purposes $ 27.5 $ 17.6 Net operating loss carryforwards 222.2 208.4 Foreign, federal and state credits 13.6 9.5 Employee benefit items 41.9 40.3 Capitalized expenses 114.8 36.5 Intangible assets — 12.6 Derivatives and other 52.2 44.7 Sub-total deferred tax assets 472.2 369.6 Valuation allowance (205.6) (179.5) Total deferred tax assets $ 266.6 $ 190.1 Depreciation and amortization $ (111.4) $ (89.1) Unremitted foreign earnings (1.6) — Intangible assets (65.0) — Total deferred tax liabilities (178.0) (89.1) Net deferred tax assets $ 88.6 $ 101.0
Reconciliation of the Provision for Income Taxes	A reconciliation of the provision for income taxes, with the amount computed by applying the statutory federal income tax rate, 21%, to income before provision for income taxes, is as follows: Year Ended December 31, (In millions) 2023 2022 2021 Computed expected tax $ 90.2 21.0 % $ 153.2 21.0 % $ 150.4 21.0 % State income taxes, net of federal tax benefit 4.8 1.1 % 18.3 2.5 % 15.6 2.2 % Foreign earnings taxed at different rates 4.5 1.0 % 10.3 1.4 % 16.2 2.2 % U.S. tax on foreign earnings 14.9 3.5 % 16.8 2.3 % 14.3 2.0 % Tax credits (27.6) (6.4) % (30.6) (4.2) % (30.2) (4.2) % Withholding tax 6.0 1.4 % 7.0 1.0 % 4.7 0.7 % Net change in valuation allowance 13.0 3.0 % 1.0 0.1 % 3.6 0.5 % Net change in unrecognized tax benefits (22.3) (5.2) % 65.3 9.0 % 19.6 2.7 % Legislative changes — — % — — % 5.1 0.7 % Deferred tax adjustments 0.4 0.1 % — — % 11.4 1.6 % Other 6.5 1.5 % (3.3) (0.5) % 14.3 2.0 % Income tax provision and rate $ 90.4 21.0 % $ 238.0 32.6 % $ 225.0 31.4 %
Unrecognized Tax Benefits and the Effect on Effective Income Tax Rate	We are providing the following disclosures related to our unrecognized tax benefits and the effect on our effective income tax rate if recognized: Year Ended December 31, (In millions) 2023 2022 2021 Beginning balance of unrecognized tax benefits $ 420.1 $ 389.0 $ 379.6 Additions for tax positions of current year 0.9 1.3 1.8 Additions for tax positions of prior years 7.5 41.6 9.7 Reductions for tax positions of prior years (0.4) (4.1) (1.9) Reductions for lapses of statutes of limitation and settlements (191.5) (7.7) (0.2) Ending balance of unrecognized tax benefits $ 236.6 $ 420.1 $ 389.0

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Estimated Future Cash Outlays Related to Principal Contractual Obligations	The estimated future cash outlays are as follows: Year Amount (In millions) 2024 $ 100.8 2025 22.3 2026 9.0 2027 3.2 2028 0.3 Total $ 135.6

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Summary of Cash Dividends Paid	The following table shows our total cash dividends paid in the years ended December 31, 2023, 2022 and 2021: (In millions, except per share amounts) Total Cash Total Cash Dividends Paid per Common Share 2021 $ 115.8 $ 0.76 2022 118.4 0.80 2023 117.9 0.80
Summary of Changes in Common Stock and Common Stock in Treasury	The following is a summary of changes during the years ended December 31, in shares of our common stock and common stock in treasury: 2023 2022 2021 Changes in common stock: Number of shares, beginning of year 233,233,456 232,483,281 231,958,083 Restricted stock shares forfeited — — (1,095) Shares issued for vested restricted stock units 466,634 532,727 423,302 Shares issued for 2018 three-year PSU awards — — 47,730 Shares issued for 2019 three-year PSU awards — 161,289 — Shares issued for 2020 three-year PSU awards (3) 273,438 — 13,770 Shares issued for other performance-based awards 6,839 — — Shares issued for stock leverage opportunity awards (SLO) 40,200 36,576 32,128 Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors 33,444 19,583 54,277 Canceled shares for tax netting (1) — — (44,914) Shares canceled and retired (80,000,000) — — Number of shares issued, end of year 154,054,011 233,233,456 232,483,281 Changes in common stock in treasury: Number of shares held, beginning of year 88,561,343 84,384,124 77,068,311 Shares canceled and retired (80,000,000) — — Repurchase of common stock (2) 1,529,575 4,527,887 7,949,688 Profit sharing contribution paid in stock (504,626) (350,668) (633,875) Number of shares held, end of year (2) 9,586,292 88,561,343 84,384,124 Number of common stock outstanding, end of year (2) 144,467,719 144,672,113 148,099,157 (1) Effective January 1, 2019, new share issuances for vested awards are netted by the number of shares required to cover the recipients' portion of income tax. The portion withheld for taxes are canceled. Shares netted for taxes in 2021 primarily relates to vesting activity for restricted stock shares issued in prior years. (2) Repurchase of common stock for the year ended December 31, 2021, as shown above, includes 74,281 shares of common stock that had been repurchased by the Company in 2020 but were not yet settled or not yet reflected by the Recordkeeper as of December 31, 2020. The table above and our Consolidated Balance Sheets reflect the number of shares held in treasury per our Recordkeeper. (3) Per the terms of his 2019 offer letter, shares equal to the target number of units granted, net of shares withheld for taxes, were issued to our former CFO, James Sullivan, on September 30, 2021.
Summary of Changes in Common Shares Available for Awards under Omnibus Plan and Predecessor Plans	A summary of the changes in common shares available for awards under the Omnibus Incentive Plan and Predecessor Plans follows: 2023 2022 2021 Number of shares available, beginning of year 5,089,324 5,510,599 3,183,310 Newly approved shares under Omnibus Incentive Plan — — 2,999,054 Restricted stock shares forfeited — — 1,095 Restricted stock units awarded (804,175) (608,955) (918,973) Restricted stock units forfeited 151,671 109,317 115,641 Shares issued for 2018 three-year PSU awards — — (47,730) Shares issued for 2019 three-year PSU awards — (161,289) — Shares issued for 2020 three-year PSU awards (273,438) — (13,770) Shares issued for other performance-based awards (6,839) — — Restricted stock units awarded for SLO awards (32,330) (37,756) (72,043) Director shares granted and issued (21,341) (10,606) (10,160) Director units granted and deferred (1) (18,352) (13,137) (16,264) Shares withheld for taxes (2) 270,454 301,151 290,439 Number of shares available, end of year (3) 4,354,974 5,089,324 5,510,599 (1) Director units granted and deferred include the impact of share-settled dividends earned and deferred on deferred shares. (2) The Omnibus Incentive Plan and 2005 Contingent Stock Plan permit withholding of taxes and other charges that may be required by law to be paid attributable to awards by withholding a portion of the shares attributable to such awards. (3) The above table excludes approximately 1.7 million contingently issuable shares under PSU awards, which represents the maximum number of shares that could be issued under those awards as of December 31, 2023.
Summarizes the Company's Pre-tax Share-based Incentive Compensation Expense and Income Tax Benefit	The following table summarizes the Company’s pre-tax share-based incentive compensation expense and related income tax benefit for the years ended December 31, 2023, 2022 and 2021 related to the Company’s PSU awards, SLO awards and restricted stock awards. (In millions) 2023 2022 2021 2023 Five-year ESG PSU Awards $ 2.5 $ — $ — 2023 Three-year PSU Awards 2.7 — — 2022 Three-year PSU Awards (0.2) 4.8 — 2021 Three-year PSU Awards (2.3) 7.1 4.2 2020 Three-year PSU Awards — 5.1 4.5 2019 Three-year PSU Awards — — 2.2 2017 COO and Chief Executive Officer-Designate New Hire Equity Awards — — 0.1 SLO Awards (0.6) 1.7 2.8 Other long-term share-based incentive compensation programs (1) 32.1 33.6 32.0 Total share-based incentive compensation expense (2) $ 34.2 $ 52.3 $ 45.8 Associated tax benefits recognized $ 7.5 $ 8.0 $ 7.5 (1) Amounts include expenses associated with restricted stock awards consisting of restricted stock units, cash-settled restricted stock unit awards, and other issuances of performance-based awards, apart from annual three-year PSU awards and the 2023 five-year ESG awards. Expense on other performance-based awards was $0.4 million and $0.1 million for the years ended December 31, 2023 and 2022, respectively, and zero for the year ended December 31, 2021. (2) Amounts do not include expense related to our U.S. profit sharing contributions made in the form of our common stock, as these contributions are not considered share-based incentive compensation.
Schedule of Unvested Restricted Stock and Restricted Stock Unit	The following table summarizes activity for unvested restricted stock units for 2023: Restricted stock units Shares Weighted-Average per Share Fair Value on Grant Date Aggregate Intrinsic Value ( In millions ) Non-vested at December 31, 2022 1,376,406 $ 51.04 Granted 804,175 47.33 Vested (705,785) 45.63 $ 32.2 Forfeited or expired (151,671) 52.79 Non-vested at December 31, 2023 1,323,125 $ 51.47
Schedule of Fair Value of Vested Restricted Stock	A summary of the Company’s fair values of its vested restricted stock shares and restricted stock units are shown in the following table: (In millions) 2023 2022 2021 Fair value of restricted stock shares vested $ — $ — $ 6.1 Fair value of restricted stock units vested $ 33.6 $ 51.6 $ 26.4
Schedule of Unrecognized Compensation Cost	Unrecognized compensation cost and the weighted average period over which the compensation cost is expected to be recognized for its non-vested restricted stock units are shown in the following table: (In millions) Unrecognized Compensation Cost Weighted Average to be recognized (in years) Restricted Stock units $ 45.8 1.0 A summary of the Company’s unrecognized compensation cost for PSU awards at the current estimated earned payout based on the probable outcome of the performance condition and weighted average periods over which the compensation cost is expected to be recognized as shown in the following table: (In millions) Unrecognized Compensation Costs Weighted Average to be recognized (in years) 2023 Five-year ESG PSU Awards $ 5.2 4 2023 Three-year PSU Awards 2.9 2 2022 Three-year PSU Awards 1.2 1 2021 Three-year PSU Awards — 0
Number of Performance Stock Units Granted Based on Relative TSR, Adjusted EBITDA Margin and ROIC	Adjusted EBITDA CAGR ROIC February 10, 2021 grant date Number of units granted 41,729 41,729 Fair value on grant date (per unit) $ 45.26 $ 45.26 February 11, 2021 grant date Number of units granted 51,882 51,882 Fair value on grant date (per unit) $ 43.85 $ 43.85 March 1, 2021 grant date Number of units granted 29,762 29,762 Fair value on grant date (per unit) $ 43.02 $ 43.02 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 Adjusted EBITDA CAGR ROIC February 21, 2023 grant date Number of units granted 93,343 93,343 Fair value on grant date (per unit) $ 48.46 $ 48.46 March 1, 2023 grant date Number of units granted 22,963 22,963 Fair value on grant date (per unit) $ 49.05 $ 49.05 The following table includes additional information related to estimated earned payout based on the probable outcome of the performance conditions and market condition as of December 31, 2023: Estimated Payout % Adjusted EBITDA CAGR ROIC TSR Modifier (1) Combined 2023 Three-year PSU Awards 100 % 100 % (25) % 75 % 2022 Three-year PSU Awards — % 200 % (25) % 75 % 2021 Three-year PSU Awards — % 200 % (25) % 75 % (1) The TSR Modifier is a market-based condition. Accordingly, we make no assumptions related to future performance. The percentages above represent actual rankings as of December 31, 2023. Any portion of outstanding awards based on the achievement of market-based conditions are accrued at 100% of fair value over the performance period in accordance with ASC 718.
Summary of Assumptions Used to Calculate Grant Date Fair Value	The assumptions used to calculate the grant date fair values are shown in the following table: Expected price volatility Risk-free interest rate February 10, 2021 grant date 37.7 % 0.2 % February 11, 2021 grant date 37.7 % 0.2 % March 1, 2021 grant date 38.0 % 0.3 % The assumptions used to calculate the grant date fair values are shown in the following table: Expected price volatility Risk-free interest rate February 24, 2022 grant date 37.4 % 1.7 % March 1, 2022 grant date 37.7 % 1.5 % The assumptions used to calculate the grant date fair values are shown in the following table: Expected price volatility Risk-free interest rate February 21, 2023 grant date 32.9 % 4.4 % March 1, 2023 grant date 31.7 % 4.6 %
Summary of Estimated Earned Payout	The following table includes additional information related to estimated earned payout based on the probable outcome of the performance conditions and market condition as of December 31, 2023: Estimated Payout % Adjusted EBITDA CAGR ROIC TSR Modifier (1) Combined 2023 Three-year PSU Awards 100 % 100 % (25) % 75 % 2022 Three-year PSU Awards — % 200 % (25) % 75 % 2021 Three-year PSU Awards — % 200 % (25) % 75 % (1) The TSR Modifier is a market-based condition. Accordingly, we make no assumptions related to future performance. The percentages above represent actual rankings as of December 31, 2023. Any portion of outstanding awards based on the achievement of market-based conditions are accrued at 100% of fair value over the performance period in accordance with ASC 718. 2023 Five-year ESG Awards During the first quarter of 2023, the P&C Committee approved awards with a five-year performance period beginning January 1, 2023 and ending December 31, 2027 for certain of our executive officers. The P&C Committee established performance goals related to the Company's environmental, social, and governance ("ESG") commitments. A total of 75% of the target awards are weighted towards sustainability goals, including increased recycled and/or renewable content offerings and reductions in greenhouse gas intensity. The remaining 25% of the target awards are weighted towards social goals, including global gender representation, and belonging and inclusion. Calculation of final achievement on the awards is subject to upward adjustments in the event that (i) specified levels of automation and prismiq TM sales are realized and/or (ii) the target performance level for all goals is met. The total number of shares to be issued for these awards can range from zero to 187.5% of the target number of shares, inclusive of upward adjustments. During the second quarter of 2023, ESG awards were granted to one additional executive officer. The performance period and performance goals are identical to those described above. The target number of PSUs granted and the grant date fair value of the PSUs are shown in the following table: Environmental Goals Social Goals February 21, 2023 grant date Number of units granted 204,172 78,528 Fair value on grant date (per unit) $ 48.55 $ 48.55 April 18, 2023 grant date Number of units granted 20,811 8,005 Fair value on grant date (per unit) $ 46.85 $ 46.85
Summary of Activity for Outstanding Three-year PSU Awards	The following table summarizes activity for outstanding three Shares Aggregate Intrinsic Value (In millions) Outstanding at December 31, 2022 674,687 Granted (1) 544,128 Performance adjustment (2) 190,044 Converted (457,461) $ 15.5 Forfeited or expired (84,086) Outstanding at December 31, 2023 867,312 Fully vested at December 31, 2023 260,601 $ 12.4 (1) This represents the target number of performance units granted. Actual number of PSUs earned, if any, is dependent upon performance and may range from 0% to 250% of the target for three-year PSU awards and 0% to 187.5% of the target for five-year ESG PSU awards. (2) Represents units earned and distributed in excess of target for 2020 three-year PSUs awards.
Summary of Activity for Non-Vested PSUs Awards	The following table summarizes activity for non-vested three Shares Weighted-Average per Share Fair Value on Grant Date Non-vested at December 31, 2022 380,093 $ 56.03 Granted 544,128 48.46 Vested (233,424) 46.97 Forfeited or expired (84,086) 53.29 Non-vested at December 31, 2023 606,711 $ 53.07
Summary of Fair Value for Vested PSU Awards	A summary of the Company’s fair value for its vested three (In millions) 2023 2022 2021 Fair value of PSU awards vested $ 9.5 $ 14.7 $ 17.8
Performance Stock Units Granted and Grant Date Fair Value	The target number of PSUs granted and the grant date fair value of the PSUs are shown in the following table: Environmental Goals Social Goals February 21, 2023 grant date Number of units granted 204,172 78,528 Fair value on grant date (per unit) $ 48.55 $ 48.55 April 18, 2023 grant date Number of units granted 20,811 8,005 Fair value on grant date (per unit) $ 46.85 $ 46.85

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Details of Comprehensive Loss	The following table provides details of comprehensive loss: (In millions) Unrecognized Cumulative Translation Adjustment (1) Unrecognized Unrecognized Accumulated Balance at December 31, 2021 $ (137.5) $ (760.5) $ (38.3) $ 2.4 $ (933.9) Other comprehensive income (loss) before reclassifications 7.3 (77.0) 20.0 9.2 (40.5) Less: amounts reclassified from accumulated other comprehensive loss 3.9 — — (8.3) (4.4) Net current period other comprehensive income (loss) 11.2 (77.0) 20.0 0.9 (44.9) Balance at December 31, 2022 $ (126.3) $ (837.5) $ (18.3) $ 3.3 $ (978.8) Other comprehensive (loss) income before reclassifications (23.8) 66.9 (19.8) (0.7) 22.6 Less: amounts reclassified from accumulated other comprehensive loss 3.7 — — (3.0) 0.7 Net current period other comprehensive (loss) income (20.1) 66.9 (19.8) (3.7) 23.3 Balance at December 31, 2023 $ (146.4) $ (770.6) $ (38.1) $ (0.4) $ (955.5) (1) Includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustments were $12.9 million, $15.8 million and $30.2 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Detail of Amounts Reclassified from Accumulated Other Comprehensive Income	The following table provides detail of amounts reclassified from AOCL: (In millions) 2023 2022 2021 Location of Amount Reclassified from AOCL Defined benefit pension plans and other post-employment benefit plans: Settlements $ (0.2) $ — $ (0.9) Amortization of net prior service credit 0.1 — — Amortization of net actuarial loss (4.7) (5.2) (7.4) Total pre-tax amount (4.8) (5.2) (8.3) Other expense, net Tax benefit 1.1 1.3 2.0 Net of tax (3.7) (3.9) (6.3) Net gains (losses) on cash flow hedging derivatives: (1) Foreign currency forward contracts 4.2 10.9 (1.9) Cost of sales Treasury locks 0.1 0.1 0.1 Interest expense, net Total pre-tax amount 4.3 11.0 (1.8) Tax (expense) benefit (1.3) (2.7) 0.6 Net of tax 3.0 8.3 (1.2) Total reclassifications for the period $ (0.7) $ 4.4 $ (7.5) (1) These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 15, “Derivatives and Hedging Activities,” for additional details.

Other Expense, net (Tables)

Other Expense, net (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Details of Other Expense, net	The following table provides details of other expense, net: Year Ended December 31, (In millions) 2023 2022 2021 Net foreign exchange transaction loss $ (15.3) $ (7.2) $ (0.7) Bank fee expense (5.6) (5.1) (5.0) Pension (expense) income other than service costs (8.7) 4.8 4.4 Impairment (loss)/fair value gain on equity investments, net — (30.6) 6.6 Impairment of debt investment (1) — — (8.0) Foreign currency exchange loss due to high inflationary economies (23.1) (8.8) (3.6) Loss on debt redemption and refinancing activities (13.2) (11.2) (18.6) Other income (2) 10.4 11.7 13.2 Other (expense) (6.4) (6.8) (5.2) Other expense, net $ (61.9) $ (53.2) $ (16.9) (1) During the year ended December 31, 2021, SEE made investments totaling $8.0 million, in another company's convertible debt. Based on information available to SEE specific to the investee and our expectations of recoverability at that time, we recorded a credit loss resulting in an $8.0 million impairment (establishment of allowance) of the convertible debt investment during the fourth quarter of 2021. The total allowance for credit losses related to the remaining available-for-sale debt securities as of December 31, 2023 and 2022 was zero. (2) During the year ended December 31, 2021, the Supreme Court of Brazil issued a final decision that clarified the methodology companies should use related to a claim for the overpayment of certain indirect taxes paid by Sealed Air subsidiaries in Brazil, resulting from a double taxation calculation. Based on the updated methodology approved by the Brazilian Supreme Court, we recorded $5.0 million of income during the year ended December 31, 2021.

Net Earnings per Common Share (

Net Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2023
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: Year Ended December 31, (In millions, except per share amounts) 2023 2022 2021 Basic Net Earnings Per Common Share: Numerator: Net earnings $ 341.6 $ 491.6 $ 506.8 Distributed and allocated undistributed net earnings to unvested restricted stockholders — — — Net earnings available to common stockholders $ 341.6 $ 491.6 $ 506.8 Denominator: Weighted average number of common shares outstanding - basic 144.4 145.9 150.9 Basic net earnings per common share: Basic net earnings per common share $ 2.37 $ 3.37 $ 3.36 Diluted Net Earnings Per Common Share: Numerator: Net earnings available to common stockholders $ 341.6 $ 491.6 $ 506.8 Denominator: Weighted average number of common shares outstanding - basic 144.4 145.9 150.9 Effect of dilutive stock shares and units 0.5 1.5 1.5 Weighted average number of common shares outstanding - diluted under treasury stock 144.9 147.4 152.4 Diluted net earnings per common share $ 2.36 $ 3.33 $ 3.32

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Recently Adopted and Issued Accounting Standards (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) bank Bs. / $	Dec. 31, 2022 USD ($) Bs. / $	Dec. 31, 2021 USD ($) Bs. / $
Significant Accounting Policies [Line Items]
Research and development costs	$ 96.9	$ 102.5	$ 99.8
Target level for the determination of performance goals and measures	100%
Number of banks involved in sale of fractional ownership interest of accounts receivable | bank	2
Credit losses as percentage of net trade sales (less than)	0.10%
Credit loss historical period	3 years
Charge to allowance for credit losses	$ 3.1	6.2	$ 2.1
Accounts payable	$ 764.6	865.6
Supply Chain Financing Program Participants
Significant Accounting Policies [Line Items]
Supply chain financing program, payment period	120 days
Accounts payable	$ 153	$ 139.7
Minimum
Significant Accounting Policies [Line Items]
Intangible asset, useful life	1 year
Maximum
Significant Accounting Policies [Line Items]
Intangible asset, useful life	28 years
Buildings | Minimum
Significant Accounting Policies [Line Items]
Property and equipment, useful life	10 years
Buildings | Maximum
Significant Accounting Policies [Line Items]
Property and equipment, useful life	40 years
Machinery and equipment | Minimum
Significant Accounting Policies [Line Items]
Property and equipment, useful life	5 years
Machinery and equipment | Maximum
Significant Accounting Policies [Line Items]
Property and equipment, useful life	10 years
Other Property and Equipment | Minimum
Significant Accounting Policies [Line Items]
Property and equipment, useful life	2 years
Other Property and Equipment | Maximum
Significant Accounting Policies [Line Items]
Property and equipment, useful life	10 years
Argentina | Argentina, Pesos
Significant Accounting Policies [Line Items]
Exchange rate, translation | Bs. / $	808	176.8	102.7
Argentina | Argentina Subsidiaries
Significant Accounting Policies [Line Items]
Foreign currency transaction loss related to remeasurement	$ 23.1	$ 8.9	$ 3.6

Revenue Recognition, Contract_3

Revenue Recognition, Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue recognized from performance obligation satisfied in previous periods	$ 3.1	$ 0.1	$ 4.3
Revenue recognized that was included in contract liability at beginning of period	$ 12.3	$ 11.9	$ 15.4

Revenue Recognition, Contract_4

Revenue Recognition, Contracts with Customers - Revenues from Contracts with Customers Summarized by Segment Geographic Region (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	$ 5,440	$ 5,608.5	$ 5,494.8
Non-Topic 606 Revenue (Leasing: Sales-type and Operating)	48.9	33.4	39
Total	5,488.9	5,641.9	5,533.8
Americas
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	3,536.5	3,692	3,491.7
EMEA
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	1,145.5	1,156.1	1,196.7
Total	1,149.3	1,160	1,200
APAC
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	758	760.4	806.4
Total	761.3	763.4	811.5
Food
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	3,476.5	3,290.5	3,079.8
Non-Topic 606 Revenue (Leasing: Sales-type and Operating)	43.2	26.7	33
Food | Americas
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	2,297.8	2,170.9	1,948.9
Food | EMEA
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	711.1	682.7	681.4
Food | APAC
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	467.6	436.9	449.5
Food | Operating Segments
Disaggregation of Revenue [Line Items]
Total	3,519.7	3,317.2	3,112.8
Protective
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	1,963.5	2,318	2,415
Non-Topic 606 Revenue (Leasing: Sales-type and Operating)	5.7	6.7	6
Protective | Americas
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	1,238.7	1,521.1	1,542.8
Protective | EMEA
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	434.4	473.4	515.3
Protective | APAC
Disaggregation of Revenue [Line Items]
Topic 606 Segment Revenue	290.4	323.5	356.9
Protective | Operating Segments
Disaggregation of Revenue [Line Items]
Total	$ 1,969.2	$ 2,324.7	$ 2,421

Revenue Recognition, Contract_5

Revenue Recognition, Contracts with Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0.4	$ 0.5
Contract liabilities	$ 19.9	$ 18.2

Revenue Recognition, Contract_6

Revenue Recognition, Contracts with Customers - Remaining Performance Obligation and Total Transaction Price (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total transaction price	$ 19.9	$ 18.2
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		13
Remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total transaction price	$ 13.3	$ 5.2
Remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total transaction price	$ 6.6
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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Short-Term (12 months or less)	$ 8.5	$ 6.5
Long-Term	33.3	18.6
Lease receivables	$ 41.8	$ 25.1
Net Sales | Product Concentration Risk | Sales Type Operating Lease
Lessor, Lease, Description [Line Items]
As a % of Consolidated net sales (less than)	1%

Leases - Summary of Supplementa

Leases - Summary of Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other non-current assets:
Finance leases - ROU assets	$ 36	$ 55
Finance leases - Accumulated depreciation	(14.9)	(31.7)
Operating lease right-of-use-assets:
Operating leases - ROU assets	203.1	156.7
Operating leases - Accumulated depreciation	(116.6)	(86.5)
Total lease assets	107.6	93.5
Current portion of long-term debt:
Finance leases	(6.7)	(7.6)
Current portion of operating lease liabilities:
Operating leases	(29.2)	(24)
Long-term debt, less current portion:
Finance leases	(12.8)	(16.1)
Long-term operating lease liabilities, less current portion:
Operating leases	(66.7)	(49.6)
Total lease liabilities	$ (115.4)	$ (97.3)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other non-current assets	Other non-current assets
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of long-term debt (Note 14)	Current portion of long-term debt (Note 14)
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt, less current portion (Note 14)	Long-term debt, less current portion (Note 14)

Leases - Schedule of Lease Comm

Leases - Schedule of Lease Commitments (Details) $ in Millions	Dec. 31, 2023 USD ($)
Finance leases
2021	$ 8.1
2022	5
2023	3.1
2024	1.5
2025	0.8
Thereafter	8
Total lease payments	26.5
Less: Interest	(7)
Present value of lease liabilities	19.5
Operating leases
2021	33.3
2022	26.8
2023	20.8
2024	11.8
2025	7
Thereafter	9
Total lease payments	108.7
Less: Interest	(12.8)
Present value of lease liabilities	$ 95.9

Leases - Lease Cost and Other I

Leases - Lease Cost and Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finance leases
Amortization of ROU assets	$ 10	$ 10.5	$ 10.6
Interest on lease liabilities	1.8	1.3
Operating leases	37.5	33.2
Short-term lease cost	3.5	2.7
Variable lease cost	6.6	7
Total lease cost	59.4	54.7
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - finance leases	4.3	5.4
Operating cash flows - operating leases	37.7	30.6
Financing cash flows - finance leases	9	10	$ 10.5
ROU assets obtained in exchange for new finance lease liabilities	16.7	8.8
ROU assets obtained in exchange for new operating lease liabilities	$ 49.9	$ 34.4
Finance leases
Remaining lease term (in years)	6 years 4 months 24 days	6 years 1 month 6 days
Discount rate	7.40%	4.90%
Operating leases
Remaining lease term (in years)	4 years 1 month 6 days	4 years 2 months 12 days
Discount rate	5.80%	4.80%

Acquisition and Divestiture A_3

Acquisition and Divestiture Activity - Narrative (Details) - USD ($)			3 Months Ended			11 Months Ended	12 Months Ended
	Feb. 01, 2023	Feb. 02, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Nov. 01, 2021
Business Acquisition [Line Items]
Goodwill					$ 2,189,400,000	$ 2,892,500,000	$ 2,892,500,000	$ 2,174,500,000	$ 2,189,400,000
Identifiable intangible assets, net			$ 0
Gain on sale of business							0	0	45,300,000
Taxes on net gain on sale							90,400,000	238,000,000	225,000,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]					Gain (Loss) On Disposition Of Businesses And Property And Equipment
Reflectix, Inc | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Protective
Business Acquisition [Line Items]
Proceeds from sale of businesses					$ 82,500,000
Gain on sale of business				$ 400,000	$ 45,300,000
Disposal group, net carrying value										$ 35,800,000
Disposal group, inventory										6,800,000
Disposal group, trade receivable										6,600,000
Disposal group, property, plant and equipment										1,000,000
Disposal group, goodwill										$ 23,200,000
Taxes on net gain on sale									$ 17,300,000
Liquibox
Business Acquisition [Line Items]
Percentage of acquired equity interest	100%
Purchase price	$ 1,170,000,000
Foxpak Flexibles Ltd.
Business Acquisition [Line Items]
Purchase price		$ 9,700,000
Goodwill		5,200,000
Identifiable intangible assets, net		2,700,000
Deferred tax liabilities		$ 300,000
Liquibox
Business Acquisition [Line Items]
Purchase price	1,169,200,000					1,167,100,000
Transaction expenses							12,000,000	$ 7,000,000
Goodwill	728,700,000					699,500,000	699,500,000
Deferred tax liabilities	$ 92,200,000					$ 57,100,000	$ 57,100,000
Series of Individually Immaterial Business Acquisitions | Food
Business Acquisition [Line Items]
Purchase price			14,900,000
Goodwill			$ 7,900,000

Acquisitions and Divestiture Ac

Acquisitions and Divestiture Activity - Summary of Preliminary Allocation of Purchase Price to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions		11 Months Ended
	Feb. 01, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Liabilities:
Goodwill		$ 2,892.5	$ 2,174.5	$ 2,189.4
Liquibox
Business Acquisition [Line Items]
Purchase price	$ 1,169.2	1,167.1
Assets:
Cash and cash equivalents	21.2	21.2
Trade receivables	48.6	47.8
Inventories	61.6	58.8
Prepaid expenses and other current assets	15.8	14.1
Property and equipment	101.1	92.9
Identifiable intangible assets	342.1	346.3
Operating lease right-of-use-assets	15.1	15.1
Other non-current assets	9.5	8
Total assets acquired	615	604.2
Liabilities:
Accounts payable	27	25.6
Current portion of long-term debt	0.1	0.1
Current portion of operating lease liabilities	3.7	3.7
Other current liabilities	28.4	31.2
Long-term debt, less current portion	5.1	5.1
Long-term operating lease liabilities, less current portion	11.4	11.4
Deferred taxes	92.2	57.1
Other non-current liabilities	6.6	2.4
Total liabilities assumed	174.5	136.6
Net assets acquired	440.5	467.6
Goodwill	$ 728.7	699.5
Measurement Period Adjustments
Consideration transferred		(2.1)
Trade receivables		(0.8)
Inventories		(2.8)
Prepaid expenses and other current assets		(1.7)
Property and equipment, net		(8.2)
Identifiable intangible assets		4.2
Other non-current assets		(1.5)
Total assets acquired		(10.8)
Accounts payable		(1.4)
Other current liabilities		2.8
Other non-current liabilities		(4.2)
Deferred taxes		(35.1)
Total liabilities assumed		(37.9)
Net assets acquired		27.1
Goodwill		$ (29.2)

Acquisitions and Divestiture _2

Acquisitions and Divestiture Activity - Schedule of Intangible Assets and Useful Lives (Details) - Liquibox - USD ($) $ in Millions	Dec. 31, 2023	Feb. 01, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 346.3	$ 342.1
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 186.4
Intangible asset, useful life	11 years
Trademarks and tradenames
Acquired Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 26
Intangible asset, useful life	10 years
Software
Acquired Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 3.7
Intangible asset, useful life	2 years
Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 130.2
Intangible asset, useful life	12 years

Acquisition and Divestiture A_4

Acquisition and Divestiture Activity - Net Sales and Net Earnings (Loss) Since Acquisition Date (Details) - Liquibox $ in Millions	11 Months Ended
	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Net sales	$ 284.3
Net earnings	$ 2.6

Acquisition and Divestiture A_5

Acquisition and Divestiture Activity - Pro Forma Information (Details) - Liquibox - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Net sales	$ 5,514.5	$ 6,003.4
Net earnings	$ 351.2	$ 380.2

Segments - Additional Informati

Segments - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Net Sales and Adjust

Segments - Net Sales and Adjusted EBITDA of Reportable Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net sales	$ 5,488.9	$ 5,641.9	$ 5,533.8
Segment Adjusted EBITDA	1,136.8	1,220.7	1,134.6
Corporate
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	(30.2)	(10.5)	(3)
Food | Operating Segments
Segment Reporting Information [Line Items]
Net sales	3,519.7	3,317.2	3,112.8
Segment Adjusted EBITDA	$ 775	$ 755.1	$ 688.4
Adjusted EBITDA Margin	22%	22.80%	22.10%
Protective | Operating Segments
Segment Reporting Information [Line Items]
Net sales	$ 1,969.2	$ 2,324.7	$ 2,421
Segment Adjusted EBITDA	$ 361.8	$ 465.6	$ 446.2
Adjusted EBITDA Margin	18.40%	20%	18.40%
Product Concentration Risk | Net Sales | Food | Operating Segments
Segment Reporting Information [Line Items]
As a % of Consolidated net sales	64.10%	58.80%	56.30%
Product Concentration Risk | Net Sales | Protective | Operating Segments
Segment Reporting Information [Line Items]
As a % of Consolidated net sales	35.90%	41.20%	43.70%

Segments - Reconciliation of U.

Segments - Reconciliation of U.S. GAAP Net Earnings to Non-U.S. GAAP Total Company Adjusted EBITDA (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	$ 1,136.8	$ 1,220.7	$ 1,134.6
Interest expense, net	(263)	(162.3)	(167.8)
Depreciation and amortization, net of adjustments	(239.6)	(236.8)	(232.2)
Special Items:
Restructuring charges	(15.6)	(12.1)	(14.5)
Other restructuring associated costs	(34.5)	(9.3)	(16.5)
Foreign currency exchange loss due to highly inflationary economies	(23.1)	(8.8)	(3.6)
Loss on debt redemption and refinancing activities	(13.2)	(11.2)	(18.6)
Impairment (loss)/fair value gain on equity investments, net	0	(30.6)	6.6
Impairment of debt investment	0	0	(8)
Contract terminations	(14.6)	0	0
Charges related to acquisition and divestiture activity	(28.3)	(3.1)	(2.6)
Gain on sale of Reflectix	0	0	45.3
CEO severance	(6.1)	0	0
Other Special Items	(0.8)	(6.7)	(3.5)
Pre-tax impact of Special Items	(174.3)	(81.8)	(15.4)
Earnings before income tax provision	429.7	729.3	716.2
Liquibox
Special Items:
Liquibox intangible amortization	(27.9)	0	0
Liquibox inventory step-up amortization	(10.2)	0	0
Food
Special Items:
Restructuring charges	(8.2)	(8.3)	(7.2)
Food | Operating Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	775	755.1	688.4
Protective
Special Items:
Restructuring charges	(7.4)	(3.8)	(7.3)
Protective | Operating Segments
Segment Reporting Information [Line Items]
Segment Adjusted EBITDA	$ 361.8	$ 465.6	$ 446.2

Segments - Reconciliation of _2

Segments - Reconciliation of U.S. GAAP Net Earnings to Non-U.S. GAAP Total Company Adjusted EBITDA Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total Company depreciation and amortization	$ 267.5	$ 236.8	$ 232.2
Depreciation and amortization, net of adjustments	239.6	236.8	232.2
Share-based incentive compensation	34.2	52.3	45.8
Restructuring and other charges	15.6	12.1	14.5
Liquibox
Segment Reporting Information [Line Items]
Liquibox intangible amortization	(27.9)	0	0
Food
Segment Reporting Information [Line Items]
Restructuring and other charges	8.2	8.3	7.2
Food | Operating Segments
Segment Reporting Information [Line Items]
Total Company depreciation and amortization	175.7	137.1	129.1
Protective
Segment Reporting Information [Line Items]
Restructuring and other charges	7.4	3.8	7.3
Protective | Operating Segments
Segment Reporting Information [Line Items]
Total Company depreciation and amortization	$ 91.8	$ 99.7	$ 103.1

Segments - Assets Allocated by

Segments - Assets Allocated by Reportable Segments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets not allocated:
Cash and cash equivalents	$ 346.1	$ 456.1	$ 561	$ 548.7
Advances and deposits	72.8	12.7
Deferred taxes	130.8	141.5
Total	7,200.6	6,214.7
Operating Segments
Assets allocated to segments:
Allocated segment assets	6,049.8	5,138.3
Operating Segments | Food
Assets allocated to segments:
Allocated segment assets	3,386.4	2,342.6
Operating Segments | Protective
Assets allocated to segments:
Allocated segment assets	2,663.4	2,795.7
Segment Reconciling Items
Assets not allocated:
Cash and cash equivalents	346.1	456.1
Income tax receivables	44.9	40.3
Other receivables	94.2	91.5
Advances and deposits	72.8	12.7
Deferred taxes	130.8	141.5
Other	462	334.3
Total	$ 7,200.6	$ 6,214.7

Segments - Geographic Informati

Segments - Geographic Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net sales:
Net sales	$ 5,488.9	$ 5,641.9	$ 5,533.8
Total long-lived assets:
Long-lived assets	1,775	1,643.5
Americas
Net sales:
Net sales	3,578.3	3,718.5	3,522.3
Total long-lived assets:
Long-lived assets	1,122.4	1,052.1
EMEA
Net sales:
Net sales	1,149.3	1,160	1,200
Total long-lived assets:
Long-lived assets	418.6	375
APAC
Net sales:
Net sales	761.3	763.4	811.5
Total long-lived assets:
Long-lived assets	234	216.4
U.S.
Net sales:
Net sales	2,913.6	3,073	$ 2,925.4
Total long-lived assets:
Long-lived assets	$ 1,044.2	$ 977

Inventories, net (Detail)

Inventories, net (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 165.3	$ 229.9
Work in process	178.5	187.1
Finished goods	430.5	449.3
Total	$ 774.3	$ 866.3

Property and Equipment, net - S

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment, Net [Abstract]
Land and improvements	$ 47.5	$ 44.1
Buildings	835.8	783.1
Machinery and equipment	2,811.5	2,612.3
Other property and equipment	142	124.5
Construction-in-progress	227	222.4
Property and equipment, gross	4,063.8	3,786.4
Accumulated depreciation and amortization	(2,647.4)	(2,510.5)
Property and equipment, net	$ 1,416.4	$ 1,275.9

Property and Equipment, net - N

Property and Equipment, net - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Property, Plant and Equipment [Abstract]
Impairment charges	$ 25.8

Property and Equipment, net - I

Property and Equipment, net - Interest Cost Capitalized and Depreciation and Amortization Expense for Property and Equipment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Interest cost capitalized	$ 13.1	$ 8.9	$ 6.8
Depreciation and amortization	170.7	148.5	147.6
Amortization of ROU assets	$ 10	$ 10.5	$ 10.6

Goodwill and Identifiable Int_3

Goodwill and Identifiable Intangible Assets, net - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment loss	$ 0	$ 0	$ 0	$ 0
Amortization expense of intangible assets		$ 62,700,000	$ 36,100,000	$ 38,800,000

Goodwill and Identifiable Int_4

Goodwill and Identifiable Intangible Assets, net - Summary of Goodwill Balances by Segment Reporting Structure (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Gross Carrying Value, at beginning of period	$ 2,364.2	$ 2,379.6
Accumulated amortization	(189.7)	(190.2)
Carrying Value, at beginning of period	2,174.5	2,189.4
Divestiture		5.2
Currency translation	10.8	(20.6)
Acquisition	707.4
Gross Carrying Value, at end of period	3,082.4	2,364.2
Accumulated impairment	(189.9)	(189.7)
Carrying Value, at end of period	2,892.5	2,174.5
Operating Segments | Food
Goodwill [Roll Forward]
Gross Carrying Value, at beginning of period	572.2	576.6
Accumulated amortization	(49)	(49.3)
Carrying Value, at beginning of period	523.2	527.3
Divestiture		5.2
Currency translation	4.7	(9.6)
Acquisition	707.4
Gross Carrying Value, at end of period	1,284.3	572.2
Accumulated impairment	(49.1)	(49)
Carrying Value, at end of period	1,235.2	523.2
Operating Segments | Protective
Goodwill [Roll Forward]
Gross Carrying Value, at beginning of period	1,792	1,803
Accumulated amortization	(140.7)	(140.9)
Carrying Value, at beginning of period	1,651.3	1,662.1
Divestiture		0
Currency translation	6.1	(11)
Acquisition	0
Gross Carrying Value, at end of period	1,798.1	1,792
Accumulated impairment	(140.8)	(140.7)
Carrying Value, at end of period	$ 1,657.3	$ 1,651.3

Goodwill and Identifiable Int_5

Goodwill and Identifiable Intangible Assets, net - Summary of Identifiable Intangible Assets with Definite and Indefinite Useful Lives (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 701.9	$ 356.4
Accumulated Amortization	(271.8)	(226.9)
Total	430.1	129.5
Indefinite-lived intangible assets
Trademarks and tradenames with indefinite lives	8.9	8.9
Total identifiable intangible assets, Gross Carrying Value	710.8	365.3
Total identifiable intangible assets, net	439	138.4
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	287.7	99.5
Accumulated Amortization	(69.3)	(47.1)
Total	218.4	52.4
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	57	30.8
Accumulated Amortization	(19.4)	(14.4)
Total	37.6	16.4
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	148.2	147.7
Accumulated Amortization	(112.8)	(111.3)
Total	35.4	36.4
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	197.5	67
Accumulated Amortization	(60.1)	(44.3)
Total	137.4	22.7
Contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	11.5	11.4
Accumulated Amortization	(10.2)	(9.8)
Total	$ 1.3	$ 1.6

Goodwill and Identifiable Int_6

Goodwill and Identifiable Intangible Assets, net - Estimated Future Amortization Expense (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 63
2025	56.7
2026	44.5
2027	39.5
2028	39.1
Thereafter	187.3
Total	$ 430.1	$ 129.5

Goodwill and Identifiable Int_7

Goodwill and Identifiable Intangible Assets, net - Remaining Weighted Average Useful Life of Definite Lived Intangible Assets (Details)	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Remaining weighted average useful lives	9 years 2 months 12 days
Customer relationships
Finite Lived Intangible Assets [Line Items]
Remaining weighted average useful lives	9 years 9 months 18 days
Trademarks and tradenames
Finite Lived Intangible Assets [Line Items]
Remaining weighted average useful lives	8 years 3 months 18 days
Software
Finite Lived Intangible Assets [Line Items]
Remaining weighted average useful lives	2 years 1 month 6 days
Technology
Finite Lived Intangible Assets [Line Items]
Remaining weighted average useful lives	10 years 2 months 12 days
Contracts
Finite Lived Intangible Assets [Line Items]
Remaining weighted average useful lives	3 years 9 months 18 days

Accounts Receivable Securitiz_2

Accounts Receivable Securitization Programs (Details) € in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) bank	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€)
Qualitative and Quantitative Information Transferors Continuing Involvement [Line Items]
Number of banks involved in sale of fractional ownership interest of accounts receivable | bank	2
Short-term borrowings	$ 140,700,000	$ 6,600,000
Prepaid expenses and other current assets	188,400,000	57,500,000
Interest expense, net	263,000,000	162,300,000	$ 167,800,000
Line of Credit
Qualitative and Quantitative Information Transferors Continuing Involvement [Line Items]
Short-term borrowings	7,500,000	6,600,000
U.S. Accounts Receivable Securitization Program
Qualitative and Quantitative Information Transferors Continuing Involvement [Line Items]
Maximum purchase limit for receivable interests under accounts receivable securitization program	50,000,000
Interest expense, net	6,300,000	400,000	$ 0
U.S. Accounts Receivable Securitization Program | Line of Credit
Qualitative and Quantitative Information Transferors Continuing Involvement [Line Items]
Short-term borrowings	$ 46,500,000
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
Short-term borrowings		0
Level of eligible assets available under accounts receivable securitization program (less than)	$ 50,000,000
Amount available for accounts receivable securitization program	$ 46,500,000
European Accounts Receivable Securitization 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
European Accounts Receivable Securitization Program | Trade Accounts Receivable
Qualitative and Quantitative Information Transferors Continuing Involvement [Line Items]
Prepaid expenses and other current assets	$ 86,700,000			€ 78.4
European Accounts Receivable Securitization Program | Line of Credit
Qualitative and Quantitative Information Transferors Continuing Involvement [Line Items]
Short-term borrowings	86,700,000			78.4
European Accounts Receivable Securitization Program | European Program
Qualitative and Quantitative Information Transferors Continuing Involvement [Line Items]
Short-term borrowings		$ 0
Maximum purchase limit for receivable interests under accounts receivable securitization program	88,500,000			80
Amount available for accounts receivable securitization program	$ 88,500,000			€ 80

Accounts Receivable Factoring_2

Accounts Receivable Factoring Agreements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Transfers and Servicing [Abstract]
Gross amounts factored under program	$ 749.7	$ 658.7	$ 687.3
Fees associated with transfer of receivables	$ 12.3	$ 7.1	$ 4.1

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Details) - USD ($) $ in Millions		12 Months Ended
	Aug. 07, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Contract terminations		$ 14.6	$ 0	$ 0
Restructuring charges		15.6	12.1	14.5
Restructuring costs, non-cash		64.7	21.4	31
Restructuring expense (income)		15.6	12.1	14.5
Restructuring accrual expected to pay		23.1	14.7
Restructuring accrual		24.3	14.7	11.3	$ 14.3
Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring charges		54.1
Impairment, Property Plant and Equipment
Restructuring Cost and Reserve [Line Items]
Restructuring charges		25.8
Contract Termination
Restructuring Cost and Reserve [Line Items]
Restructuring charges		14.6
Inventory Obsolescence
Restructuring Cost and Reserve [Line Items]
Restructuring charges		6.6
Employee Severance and Other Closure Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		7.1
Food
Restructuring Cost and Reserve [Line Items]
Restructuring expense (income)		8.2	8.3	7.2
Restructuring accrual		16.3
Protective
Restructuring Cost and Reserve [Line Items]
Restructuring expense (income)		7.4	3.8	7.3
Restructuring accrual		8
CTO2 Grow Program
Restructuring Cost and Reserve [Line Items]
Restructuring program term (in years)	3 years
Contract terminations		14.6
Restructuring charges		16.9
Other associated costs		1.7
CTO2 Grow Program | Facility Closing
Restructuring Cost and Reserve [Line Items]
Restructuring costs, non-cash		32.6
CTO2 Grow Program | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring expected spend	$ 140
CTO2 Grow Program | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring expected spend	$ 160
Restructuring Program, Acquisitions
Restructuring Cost and Reserve [Line Items]
Restructuring charges		1	$ 1	$ 1
Program
Restructuring Cost and Reserve [Line Items]
Restructuring accrual expected to pay		23.1
Restructuring accrual remaining to pay		$ 1.2

Restructuring Activities - Sche

Restructuring Activities - Schedule of CTO2Grow Program Restructuring Spend Estimated (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total Restructuring Program Range
Contract terminations	$ 14.6	$ 0	$ 0
Capital expenditures	0.4	$ 9.7	$ 8.2
CTO2 Grow Program
Less Program to Date
Costs of reduction in headcount as a result of reorganization	(17)
Other associated costs	(1)
Contract terminations	(15)
Total cash expense	33
Capital expenditures	0
Total estimated cash cost	(33)
Total estimated non-cash expense	(33)
Total estimated expense	(66)
CTO2 Grow Program | Minimum
Total Restructuring Program Range
Costs of reduction in headcount as a result of reorganization	90
Other associated costs	20
Contract terminations	25
Total cash expense	135
Capital expenditures	5
Total estimated cash cost	140
Total estimated non-cash expense	33
Total estimated expense	168
Remaining Restructuring
Costs of reduction in headcount as a result of reorganization	73
Other associated costs	19
Contract terminations	10
Total cash expense	102
Capital expenditures	5
Total estimated cash cost	107
Total estimated non-cash expense	0
Total estimated expense	102
CTO2 Grow Program | Maximum
Total Restructuring Program Range
Costs of reduction in headcount as a result of reorganization	95
Other associated costs	25
Contract terminations	30
Total cash expense	150
Capital expenditures	10
Total estimated cash cost	160
Total estimated non-cash expense	33
Total estimated expense	183
Remaining Restructuring
Costs of reduction in headcount as a result of reorganization	78
Other associated costs	24
Contract terminations	15
Total cash expense	117
Capital expenditures	10
Total estimated cash cost	127
Total estimated non-cash expense	0
Total estimated expense	$ 117

Restructuring Activities - Summ

Restructuring Activities - Summary of Statement of Operations Effects (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Contract terminations	$ 14.6	$ 0	$ 0
Restructuring charges	15.6	12.1	14.5
Total charges	64.7	21.4	31
Capital expenditures	0.4	9.7	8.2
Continuing Operations
Restructuring Cost and Reserve [Line Items]
Other associated costs	34.5	9.3	16.5
Restructuring charges	$ 15.6	$ 12.1	$ 14.5

Restructuring Activities - Comp

Restructuring Activities - Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning of period	$ 14.7	$ 11.3	$ 14.3
Headcount accrual and accrual adjustments	15.6	12.1	14.5
Contract termination accrual and adjustments	15.6	12.1	14.5
Cash payments	(17.2)	(8.6)	(16.9)
Effect of changes in foreign currency exchange rates	0.2	(0.1)	(0.6)
Restructuring accrual, end of period	24.3	$ 14.7	$ 11.3
Present value of lease liabilities	95.9
Contract Termination
Restructuring Reserve [Roll Forward]
Contract termination accrual and adjustments	14.6
Present value of lease liabilities	3.7
Contract Terminations Excluding Leases
Restructuring Reserve [Roll Forward]
Contract termination accrual and adjustments	$ 11

Other Current and Non-Current_3

Other Current and Non-Current Liabilities - Components of Other Current and Other Non-Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other current liabilities:
Accrued salaries, wages and related costs	$ 164.1	$ 188.2
Accrued operating expenses and other	167.6	193.8
Uncertain tax position liability	1.7	201.3
Accrued customer volume rebates	100.9	97.4
Accrued interest	52.7	36.3
Total	487	717
Other non-current liabilities:
Accrued employee benefit liability	116.6	102.6
Other postretirement liability	25.8	28.3
Uncertain tax position liability	288.3	264
Other various liabilities	95	73
Total	$ 525.7	$ 467.9

Debt and Credit Facilities - To

Debt and Credit Facilities - Total Debt Outstanding (Details) € in Millions, $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Jan. 31, 2023	Dec. 31, 2022 USD ($)	Sep. 29, 2021
Debt Instrument [Line Items]
Short-term borrowings	$ 140.7			$ 6.6
Current portion of long-term debt (Note 14)	35.7			434
Total current debt	176.4			440.6
Other	20.1			23.6
Total long-term debt, less current portion	4,513.9			3,237.9
Total debt	4,690.3			3,678.5
Finance lease liability, current	$ 6.7			$ 7.6
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of long-term debt (Note 14)	Current portion of long-term debt (Note 14)		Current portion of long-term debt (Note 14)
Finance lease liability, noncurrent	$ 12.8			$ 16.1
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total long-term debt, less current portion	Total long-term debt, less current portion		Total long-term debt, less current portion
Unamortized discount and issuance costs	$ 36.9			$ 18.9
Weighted average interest rate on short-term borrowing	5.30%	5.30%		2.80%
Weighted average interest rate on long-term debt	5.60%	5.60%		4.60%
Line of Credit
Debt Instrument [Line Items]
Short-term borrowings	$ 7.5			$ 6.6
Line of Credit | European Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Short-term borrowings	86.7	€ 78.4
Line of Credit | U.S. Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Short-term borrowings	$ 46.5
Senior Notes due December 2024
Debt Instrument [Line Items]
Debt interest rate	5.125%	5.125%
Senior notes	$ 0			423.5
Senior Notes due September 2025
Debt Instrument [Line Items]
Debt interest rate	5.50%	5.50%
Senior notes	$ 399.1			398.7
Senior Secured Notes due October 2026
Debt Instrument [Line Items]
Debt interest rate	1.573%	1.573%			1.573%
Senior notes	$ 597			596
Senior Notes due December 2027
Debt Instrument [Line Items]
Debt interest rate	4%	4%
Senior notes	$ 422.5			421.9
Senior Notes due February 2028
Debt Instrument [Line Items]
Debt interest rate	6.125%	6.125%
Senior notes	$ 764.8			0
Senior Notes due April 2029
Debt Instrument [Line Items]
Debt interest rate	5%	5%
Senior notes	$ 421.7			421.2
Senior Notes due February 2031
Debt Instrument [Line Items]
Debt interest rate	7.25%	7.25%
Senior notes	$ 420.9			0
Senior Notes due July 2033
Debt Instrument [Line Items]
Debt interest rate	6.875%	6.875%
Senior notes	$ 446.7			446.4
Senior Notes due September 2023
Debt Instrument [Line Items]
Debt interest rate	4.50%	4.50%	4.50%
Current portion of long-term debt (Note 14)	$ 426
Term Loan A due March 2027
Debt Instrument [Line Items]
Term Loan A	$ 1,021.1			$ 506.6

Debt and Credit Facilities - Sc

Debt and Credit Facilities - Scheduled Annual Maturities for Next Five Years and Thereafter (Details) $ in Millions	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2023	$ 37.1
2024	463.1
2025	661.1
2026	1,348.4
2027	775.7
Thereafter	1,308
Total	$ 4,593.4

Debt and Credit Facilities - Am

Debt and Credit Facilities - Amended and Restated Senior Secured Credit Facilities (Details) £ in Millions, $ in Millions			3 Months Ended		12 Months Ended
	Feb. 01, 2023 USD ($)	Mar. 25, 2022 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 31, 2023 USD ($)	Dec. 08, 2022 USD ($)	Mar. 25, 2022 GBP (£)
Debt Instrument [Line Items]
Loss on debt redemption and refinancing activities					$ 13.2	$ 11.2	$ 18.6
Fourth Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Lender and third-party fees	$ 11			$ 1.2
Revolving credit facilities									$ 650
Loss on debt redemption and refinancing activities				0.7
Accelerated amortization of original issuance discount				0.4
Non-lender fees				0.3
Lender fees capitalized				$ 3
Amortization expense					$ 3.5	$ 1.3
Fourth Amended and Restated Credit Agreement | Minimum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1%
Fourth Amended and Restated Credit Agreement | Maximum | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Fourth Amended and Restated Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facilities		$ 1,000
Fourth Amended and Restated Credit Agreement | US Term loan A facility
Debt Instrument [Line Items]
Revolving credit facilities		$ 475
Fourth Amended and Restated Credit Agreement | Pound Sterling Term loan A Facility
Debt Instrument [Line Items]
Revolving credit facilities | £										£ 27.2
Senior Notes due February 2028
Debt Instrument [Line Items]
Debt interest rate					6.125%
Senior Notes due February 2028 | Senior Notes
Debt Instrument [Line Items]
Debt issuance costs capitalized								$ 12.2
Debt principal amount								$ 775
Debt interest rate								6.125%
Senior Notes due September 2023
Debt Instrument [Line Items]
Debt interest rate					4.50%			4.50%
Senior Notes due September 2023 | Senior Notes
Debt Instrument [Line Items]
Loss on debt redemption and refinancing activities			$ (4.9)
Accelerated amortization of original issuance discount			0.4
Debt premium			$ 4.5

Debt and Credit Facilities - Se

Debt and Credit Facilities - Senior Notes (Details) - USD ($) $ in Millions				3 Months Ended			12 Months Ended
	Nov. 20, 2023	Jan. 31, 2023	Apr. 19, 2022	Dec. 31, 2023	Mar. 31, 2023	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Loss on debt extinguishment							$ 13.2	$ 11.2	$ 18.6
Senior Notes due February 2031
Debt Instrument [Line Items]
Debt interest rate				7.25%			7.25%
Senior Notes due December 2024
Debt Instrument [Line Items]
Debt interest rate				5.125%			5.125%
Senior Notes due February 2028
Debt Instrument [Line Items]
Debt interest rate				6.125%			6.125%
Senior Notes due September 2023
Debt Instrument [Line Items]
Debt interest rate		4.50%		4.50%			4.50%
Senior Notes due April 2029
Debt Instrument [Line Items]
Debt interest rate				5%			5%
Senior Notes | Senior Notes due February 2031
Debt Instrument [Line Items]
Debt principal amount	$ 425
Debt interest rate	7.25%
Debt issuance costs capitalized	$ 4.2
Redemption price, percentage	100%
Redemption of notes, percentage	40%
Senior Notes | Senior Notes due December 2024
Debt Instrument [Line Items]
Debt interest rate	5.125%
Repurchase price	$ 433.7
Repurchased notes	425
Debt premium	7.5
Accrued interest	$ 1.2
Loss on debt extinguishment				$ (8.3)
Accelerated amortization non-lender fees				$ 0.8
Senior Notes | Senior Notes due February 2028
Debt Instrument [Line Items]
Debt principal amount		$ 775
Debt interest rate		6.125%
Debt issuance costs capitalized		$ 12.2
Redemption price, percentage		100%
Redemption of notes, percentage		40%
Senior Notes | Senior Notes due September 2023
Debt Instrument [Line Items]
Debt premium					$ 4.5
Loss on debt extinguishment					(4.9)
Accelerated amortization non-lender fees					$ 0.4
Senior Notes | Senior Notes due April 2029
Debt Instrument [Line Items]
Debt principal amount			$ 425
Debt interest rate			5%
Debt issuance costs capitalized			$ 4.2
Senior Notes | Senior Notes due April 2029 | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage			100%
Senior Notes | Senior Notes due April 2029 | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption of notes, percentage			40%
Senior Notes | Senior Notes due April 2023
Debt Instrument [Line Items]
Debt interest rate			5.25%
Repurchase price			$ 435.9
Repurchased notes			425
Debt premium			9.6
Accrued interest			$ 1.3
Loss on debt extinguishment						$ (10.5)
Accelerated amortization non-lender fees						$ 0.9

Debt and Credit Facilities - _2

Debt and Credit Facilities - Senior Secured Notes (Details) - USD ($)		12 Months Ended
	Sep. 29, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Loss on debt redemption and refinancing activities		$ 13,200,000	$ 11,200,000	$ 18,600,000
Senior Secured Notes due October 2026
Debt Instrument [Line Items]
Debt principal amount	$ 600,000,000
Debt interest rate	1.573%	1.573%
Redemption price, percentage	100%
Debt issuance costs capitalized	$ 5,300,000
Senior Notes due December 2022
Debt Instrument [Line Items]
Debt interest rate	4.875%
Loss on debt redemption and refinancing activities				(18,600,000)
Debt premium				17,000,000
Accelerated amortization non-lender fees				$ 1,600,000
Term Loan A due July 2023
Debt Instrument [Line Items]
Extinguishment of debt, amount	$ 177,200,000
Accrued interest	$ 200,000

Debt and Credit Facilities - Li

Debt and Credit Facilities - Lines of Credit (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Used lines of credit	$ 140.7	$ 6.6
Unused lines of credit	1,134.7	1,261
Total available lines of credit	1,275.4	$ 1,267.6
Committed Line Of Credit Facilities
Line of Credit Facility [Line Items]
Total available lines of credit	$ 1,135

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) derivative	Dec. 31, 2022 USD ($) derivative	Dec. 31, 2021 USD ($)	Mar. 31, 2023 USD ($)	Jan. 31, 2023	Jun. 30, 2017 EUR (€)
Derivative [Line Items]
Derivative interest income	$ 16.3	$ 18.8	$ 4.2
Senior Notes due September 2023
Derivative [Line Items]
Debt interest rate	4.50%				4.50%
Foreign Currency Forward Contracts | Designated as Hedging Instruments
Derivative [Line Items]
Unrealized gain (loss) on derivative instruments, net of taxes	$ (3.5)	0.8	4.5
Estimate of net unrealized gains that will be reclassified into earnings in next twelve months	$ (1.2)
Foreign Currency Forward Contracts | Not Designated as Hedging Instruments
Derivative [Line Items]
Maximum original maturity period of foreign currency forward contracts	12 months
Derivative interest income	$ 12	$ 7.8	$ 6
Interest Rate Swaps
Derivative [Line Items]
Number of derivative instruments outstanding | derivative	0	0
EUR - Denominated debt | Net Investment Hedge | Senior Notes due September 2023
Derivative [Line Items]
Debt instrument face amount | €						€ 400,000,000
Debt interest rate						4.50%
Cross-currency swaps
Derivative [Line Items]
Notional amount of outstanding derivative				$ 432.8
Cross-currency swaps | Net Investment Hedge
Derivative [Line Items]
Derivative liability	$ (19.9)
Derivative interest income	$ 2.8

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Details) € in Millions, $ in Millions	Dec. 31, 2023 USD ($)	Feb. 28, 2023 EUR (€)	Dec. 31, 2022 USD ($)
Derivatives Fair Value [Line Items]
Total Derivative Assets	$ 5.1		$ 7.9
Total Derivative Liabilities	(24.2)		(3.2)
Net Derivatives	(19.1)		4.7
Excludes debt designated as net investment hedge	4,513.9		3,237.9
Foreign Currency Forward Contracts
Derivatives Fair Value [Line Items]
Total Derivative Assets	5.1		7.9
Total Derivative Liabilities	(4.3)		(3.2)
Cross-currency swaps
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	(19.9)		0
Designated as Hedging Instruments | Foreign Currency Forward Contracts
Derivatives Fair Value [Line Items]
Excludes debt designated as net investment hedge		€ 400	426
Non-Designated as Hedging Instruments
Derivatives Fair Value [Line Items]
Total Derivative Assets	4.9		5.8
Total Derivative Liabilities	(1.6)		(2.4)
Net Derivatives	3.3		3.4
Non-Designated as Hedging Instruments | Foreign Currency Forward Contracts
Derivatives Fair Value [Line Items]
Total Derivative Assets	4.9		5.8
Total Derivative Liabilities	(1.6)		(2.4)
Non-Designated as Hedging Instruments | Cross-currency swaps
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	0		0
Cash Flow Hedge | Designated as Hedging Instruments
Derivatives Fair Value [Line Items]
Total Derivative Assets	0.2		2.1
Total Derivative Liabilities	(2.7)		(0.8)
Net Derivatives	(2.5)		1.3
Cash Flow Hedge | Designated as Hedging Instruments | Foreign Currency Forward Contracts
Derivatives Fair Value [Line Items]
Total Derivative Assets	0.2		2.1
Total Derivative Liabilities	(2.7)		(0.8)
Cash Flow Hedge | Designated as Hedging Instruments | Cross-currency swaps
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	0		0
Net Investment Hedge
Derivatives Fair Value [Line Items]
Total Derivative Assets	0		0
Total Derivative Liabilities	(19.9)		0
Net Derivatives	(19.9)		0
Net Investment Hedge | Foreign Currency Forward Contracts
Derivatives Fair Value [Line Items]
Total Derivative Assets	0		0
Total Derivative Liabilities	0		0
Net Investment Hedge | Cross-currency swaps
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	$ (19.9)		$ 0

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Offsetting Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivatives Fair Value [Line Items]
Gross position	$ 5.1	$ 7.9
Net amounts recognized on the Consolidated Balance Sheets	$ 4	$ 6.8
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Other Current Assets
Derivatives Fair Value [Line Items]
Gross position	$ 5.1	$ 7.9
Impact of master netting agreements	$ (1.1)	$ (1.1)

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Offsetting Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Derivatives Fair Value [Line Items]
Gross position	$ (24.2)	$ (3.2)
Gross position	5.1	7.9
Other Current Liabilities
Derivatives Fair Value [Line Items]
Gross position	(4.3)	(3.2)
Impact of master netting agreements	1.1	1.1
Net amounts recognized on the Consolidated Balance Sheet	$ (3.2)	$ (2.1)
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities (Note 13)	Other current liabilities (Note 13)
Other Noncurrent Liabilities
Derivatives Fair Value [Line Items]
Gross position	$ (19.9)	$ 0
Impact of master netting agreements	0	0
Net amounts recognized on the Consolidated Balance Sheet	$ (19.9)	$ 0
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities (Note 13)	Other non-current liabilities (Note 13)

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Effect of Derivative Instruments on Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 16.3	$ 18.8	$ 4.2
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales, Interest expense, net, Other expense, net (Note 23)
Designated as Hedging Instruments | Cash Flow Hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 4.3	11	(1.8)
Designated as Hedging Instruments | Foreign Currency Forward Contracts | Cash Flow Hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	4.2	10.9	(1.9)
Designated as Hedging Instruments | Treasury Lock | Cash Flow Hedge
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	0.1	0.1	0.1
Not Designated as Hedging Instruments | Foreign Currency Forward Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 12	$ 7.8	$ 6

Fair Value Measurements, Equi_3

Fair Value Measurements, Equity Investments and Other Financial Instruments - Fair Value Measurements of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 40.2	$ 122.5
Foreign currency forward contracts
Derivative financial and hedging instruments net asset (liability):
Derivative financial and hedging instruments net asset	0.8	4.7
Cross-currency swaps
Derivative financial and hedging instruments net asset (liability):
Derivative financial and hedging instruments net asset	(19.9)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	40.2	122.5
Level 1 | Foreign currency forward contracts
Derivative financial and hedging instruments net asset (liability):
Derivative financial and hedging instruments net asset	0	0
Level 1 | Cross-currency swaps
Derivative financial and hedging instruments net asset (liability):
Derivative financial and hedging instruments net asset	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
Derivative financial and hedging instruments net asset (liability):
Derivative financial and hedging instruments net asset	0.8	4.7
Level 2 | Cross-currency swaps
Derivative financial and hedging instruments net asset (liability):
Derivative financial and hedging instruments net asset	(19.9)
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
Derivative financial and hedging instruments net asset (liability):
Derivative financial and hedging instruments net asset	0	$ 0
Level 3 | Cross-currency swaps
Derivative financial and hedging instruments net asset (liability):
Derivative financial and hedging instruments net asset	$ 0

Fair Value Measurements, Equi_4

Fair Value Measurements, Equity Investments and Other Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certificates of deposits maturity period				3 months
Equity investment	$ 0		$ 25.4	$ 13.8	$ 13.3	$ 45.8
Upward adjustments			$ 15.1	0	0	6.6
Impairments or downward adjustments	$ 16.1	$ 15.5		0	31.6	0
Equity investments, cumulative upward price adjustment				21.7	21.7
Equity investment, cumulative downward adjustment				$ 31.6	$ 31.6
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment						31.6
Additional investment						$ 9	$ 7.5

Fair Value Measurements, Equi_5

Fair Value Measurements, Equity Investments and Other Financial Instruments - Equity Investment Without Readily Determinable Fair Value (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity Securities without Readily Determinable Fair Value [Roll Forward]
Carrying value at the beginning of period		$ 45.8		$ 13.3	$ 45.8	$ 25.4
Purchases				0	0	14.7
Impairments or downward adjustments	$ (16.1)	$ (15.5)		0	(31.6)	0
Upward adjustments			$ 15.1	0	0	6.6
Currency translation on investments				0.5	(0.9)	(0.9)
Carrying value at the end of period	$ 0		$ 25.4	$ 13.8	$ 13.3	$ 45.8

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	Dec. 31, 2023	Jan. 31, 2023	Dec. 31, 2022	Sep. 29, 2021
Senior Notes due September 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt interest rate	4.50%	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 February 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt interest rate	6.125%
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 February 2031
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt interest rate	7.25%
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 loans	$ 94.1		$ 6.6
Other domestic borrowings	65.9		7.9
Total debt	4,682.8		3,654.8
Carrying Amount | Senior Notes due September 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	0		426
Carrying Amount | Senior Notes due December 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	0		423.5
Carrying Amount | Senior Notes due September 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	399.1		398.7
Carrying Amount | Senior Secured Notes due October 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	597		596
Carrying Amount | Senior Notes due December 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	422.5		421.9
Carrying Amount | Senior Notes due February 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	764.8		0
Carrying Amount | Senior Notes due April 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	421.7		421.2
Carrying Amount | Senior Notes due February 2031
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	420.9		0
Carrying Amount | Senior Notes due July 2033
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	446.7		446.4
Carrying Amount | Term Loan A due March 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	1,050.1		506.6
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other foreign loans	94.1		6.6
Other domestic borrowings	65		7.9
Total debt	4,667.7		3,524
Fair Value | Senior Notes due September 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	0		427.3
Fair Value | Senior Notes due December 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	0		419.7
Fair Value | Senior Notes due September 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	400.7		398.6
Fair Value | Senior Secured Notes due October 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	539.5		521.7
Fair Value | Senior Notes due December 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	399.4		386.6
Fair Value | Senior Notes due February 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	780.8		0
Fair Value | Senior Notes due April 2029
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	410.8		400.2
Fair Value | Senior Notes due February 2031
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	450.3		0
Fair Value | Senior Notes due July 2033
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	477		448.8
Fair Value | Term Loan A due March 2027
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 1,050.1		$ 506.6

Profit Sharing, Retirement Sa_3

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Provisions charged from operations for the profit sharing plan and retirement savings plans	$ 45.7	$ 43.9	$ 42.5
Contribution of common stock to profit sharing plan (in shares)	504,626	350,668	633,875
Defined benefit pension plan corridor rate	10%
Plan assets	$ 596.1	$ 570.4
Expected benefits paid	4.3
Equity funds
Defined Benefit Plan Disclosure [Line Items]
Plan assets	73.2	75.1
Bulk Annuity Contract
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 107	98.4
Minimum | Equity funds | U.S plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation, percentage	50%
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets	$ 596.1	$ 570.4	$ 828.3
Expected contribution	$ 9.7
Pension Plan | U.S plan
Defined Benefit Plan Disclosure [Line Items]
Reduction in weighted average discount rate basis points	(0.40%)	(2.70%)
Plan assets	$ 106.6	$ 113.5	150.8
Pension Plan | International plan
Defined Benefit Plan Disclosure [Line Items]
Reduction in weighted average discount rate basis points	(0.60%)	(2.60%)
Plan assets	$ 489.5	$ 456.9	$ 677.5

Profit Sharing, Retirement Sa_4

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Schedule of Components of Net Periodic Benefit Cost (Income) and Cost of Special Events (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Total benefit cost (income)	$ 8.2	$ (2.4)	$ (1.2)
U.S. and international net periodic benefit cost included in cost of sales
Defined Benefit Plan Disclosure [Line Items]
Total benefit cost (income)	1	1.2	1.3
U.S. and international net periodic benefit cost included in selling, general and administrative expenses
Defined Benefit Plan Disclosure [Line Items]
Total benefit cost (income)	2.4	3.1	3.8
U.S. and international net periodic benefit cost (income) and cost of special events included in other expense, net
Defined Benefit Plan Disclosure [Line Items]
Total benefit cost (income)	$ 4.8	$ (6.7)	$ (6.3)

Profit Sharing, Retirement Sa_5

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Change in Benefit Obligation and Plan Assets, Funded Status for Pension Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in plan assets:
Fair value of plan assets at beginning of period	$ 570.4
Fair value of plan assets at end of period	596.1	$ 570.4
Pension Plan
Change in benefit obligations:
Benefit obligation at beginning of period	621.3	899.2
Service cost	3.4	4.3	$ 5.1
Interest cost	28.6	15.5	12.3
Actuarial loss (gain)	34.8	(210.1)
Settlement	(2.4)	(2)
Benefits paid	(40.1)	(36.3)
Employee contributions	0.9	0.9
Other	0.1	(0.3)
Foreign exchange impact	27.5	(49.9)
Benefit obligation at end of period	674.1	621.3	899.2
Change in plan assets:
Fair value of plan assets at beginning of period	570.4	828.3
Actual return on plan assets	31.2	(177.8)
Employer contributions	9.1	8.7
Employee contributions	0.9	0.9
Benefits paid	(40.1)	(36.3)
Settlement	(2.5)	(2.1)
Other	(0.4)	(0.3)
Foreign exchange impact	27.5	(51)
Fair value of plan assets at end of period	596.1	570.4	828.3
Underfunded status at end of year	(78)	(50.9)
Accumulated benefit obligation at end of year	664.4	613.2
U.S. | Pension Plan
Change in benefit obligations:
Benefit obligation at beginning of period	139.5	185.1
Service cost	0.1	0.1	0.1
Interest cost	7.2	4.1	3.5
Actuarial loss (gain)	3.3	(36.9)
Settlement	0	0
Benefits paid	(14.7)	(12.9)
Employee contributions	0	0
Other	0.1	0
Foreign exchange impact	0	0
Benefit obligation at end of period	135.5	139.5	185.1
Change in plan assets:
Fair value of plan assets at beginning of period	113.5	150.8
Actual return on plan assets	7.8	(24.4)
Employer contributions	0	0
Employee contributions	0	0
Benefits paid	(14.7)	(12.9)
Settlement	0	0
Other	0	0
Foreign exchange impact	0	0
Fair value of plan assets at end of period	106.6	113.5	150.8
Underfunded status at end of year	(28.9)	(26)
Accumulated benefit obligation at end of year	135.5	139.5
International | Pension Plan
Change in benefit obligations:
Benefit obligation at beginning of period	481.8	714.1
Service cost	3.3	4.2	5
Interest cost	21.4	11.4	8.8
Actuarial loss (gain)	31.5	(173.2)
Settlement	(2.4)	(2)
Benefits paid	(25.4)	(23.4)
Employee contributions	0.9	0.9
Other	0	(0.3)
Foreign exchange impact	27.5	(49.9)
Benefit obligation at end of period	538.6	481.8	714.1
Change in plan assets:
Fair value of plan assets at beginning of period	456.9	677.5
Actual return on plan assets	23.4	(153.4)
Employer contributions	9.1	8.7
Employee contributions	0.9	0.9
Benefits paid	(25.4)	(23.4)
Settlement	(2.5)	(2.1)
Other	(0.4)	(0.3)
Foreign exchange impact	27.5	(51)
Fair value of plan assets at end of period	489.5	456.9	$ 677.5
Underfunded status at end of year	(49.1)	(24.9)
Accumulated benefit obligation at end of year	$ 528.9	$ 473.7

Profit Sharing, Retirement Sa_6

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Amounts Included in Consolidated Balance Sheets (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	$ 40.9	$ 54.6
Other current liabilities	(4.3)	(4.1)
Other non-current liabilities	(116.6)	(102.6)
Net amount recognized	(80)	(52.1)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	0	0
Other current liabilities	0	0
Other non-current liabilities	(28.9)	(26)
Net amount recognized	(28.9)	(26)
International
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	40.9	54.6
Other current liabilities	(4.3)	(4.1)
Other non-current liabilities	(87.7)	(76.6)
Net amount recognized	$ (51.1)	$ (26.1)

Profit Sharing, Retirement Sa_7

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Components of Net Periodic Benefit Costs (Income) (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3.4	$ 4.3	$ 5.1
Interest cost	28.6	15.5	12.3
Expected return on plan assets	(29)	(27.8)	(27.4)
Amortization of net prior service cost	0.2	0.3	0.3
Amortization of net actuarial loss	4.8	5.3	7.6
Net periodic benefit cost (income)	8	(2.4)	(2.1)
Cost of settlement	0.2	0	0.9
Total benefit cost (income)	8.2	(2.4)	(1.2)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.1	0.1	0.1
Interest cost	7.2	4.1	3.5
Expected return on plan assets	(7.2)	(9)	(8.9)
Amortization of net prior service cost	0	0	0
Amortization of net actuarial loss	1.5	1.7	2.4
Net periodic benefit cost (income)	1.6	(3.1)	(2.9)
Cost of settlement	0	0	0
Total benefit cost (income)	1.6	(3.1)	(2.9)
International
Defined Benefit Plan Disclosure [Line Items]
Service cost	3.3	4.2	5
Interest cost	21.4	11.4	8.8
Expected return on plan assets	(21.8)	(18.8)	(18.5)
Amortization of net prior service cost	0.2	0.3	0.3
Amortization of net actuarial loss	3.3	3.6	5.2
Net periodic benefit cost (income)	6.4	0.7	0.8
Cost of settlement	0.2	0	0.9
Total benefit cost (income)	$ 6.6	$ 0.7	$ 1.7

Profit Sharing, Retirement Sa_8

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Amounts in Accumulated Other Comprehensive Loss, Not Yet Recognized (Details) - Pension Plan - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net prior service cost	$ 4.7	$ 4.9
Unrecognized net actuarial loss	195.1	167.3
Total	199.8	172.2
U.S.
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net prior service cost	0.3	0.2
Unrecognized net actuarial loss	43.2	42
Total	43.5	42.2
International
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net prior service cost	4.4	4.7
Unrecognized net actuarial loss	151.9	125.3
Total	$ 156.3	$ 130

Profit Sharing, Retirement Sa_9

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income) (Details) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial loss (gain)	$ 32.6	$ (4.5)
Prior service cost occurring during the year	0.2	0
Amortization of net actuarial loss	(4.8)	(5.3)
Amortization of prior service credit	(0.2)	(0.3)
Settlement	(0.2)	0
Total recognized in other comprehensive loss	27.6	(10.1)
U.S.
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial loss (gain)	2.7	(3.5)
Prior service cost occurring during the year	0.2	0
Amortization of net actuarial loss	(1.5)	(1.7)
Amortization of prior service credit	0	0
Settlement	0	0
Total recognized in other comprehensive loss	1.4	(5.2)
International
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial loss (gain)	29.9	(1)
Prior service cost occurring during the year	0	0
Amortization of net actuarial loss	(3.3)	(3.6)
Amortization of prior service credit	(0.2)	(0.3)
Settlement	(0.2)	0
Total recognized in other comprehensive loss	$ 26.2	$ (4.9)

Profit Sharing, Retirement S_10

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Information for Plans with Accumulated Benefit Obligations and Projected Benefit Obligations in Excess of Plan Assets (Details) - Pension Plan $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) post-employmentPlan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 239	$ 229.8
Fair value of plan assets	127.4	130.6
Projected benefit obligation	246.2	237.1
Fair value of plan assets	127.4	131.8
U.S.
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	135.5	139.5
Fair value of plan assets	106.6	113.5
Projected benefit obligation	135.5	139.5
Fair value of plan assets	106.6	113.5
International
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	103.5	90.3
Fair value of plan assets	20.8	17.1
Projected benefit obligation	110.7	97.6
Fair value of plan assets	$ 20.8	$ 18.3
Number of plans, projected benefit obligations exceed fair value of plan assets | post-employmentPlan		1

Profit Sharing, Retirement S_11

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Weighted Average Assumptions Used to Determine Benefit Obligations (Details) - Pension Plan	Dec. 31, 2023	Dec. 31, 2022
U.S.
Benefit obligations
Discount rate	5.10%	5.50%
Cash balance interest credit rate	3.90%	4.20%
International
Benefit obligations
Discount rate	3.90%	4.50%
Rate of compensation increase	2.50%	2.50%
Cash balance interest credit rate	1.40%	2.20%

Profit Sharing, Retirement S_12

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost (Details) - Pension Plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S.
Net periodic benefit cost
Discount rate	5.50%	2.80%	2.40%
Expected long-term rate of return	6.70%	6.30%	6.30%
Cash balance interest credit rate	4.20%	1.60%	1.20%
International
Net periodic benefit cost
Discount rate	4.50%	1.90%	1.40%
Expected long-term rate of return	4.80%	3.10%	2.80%
Rate of compensation increase	2.50%	2.30%	2.30%
Cash balance interest credit rate	2.20%	1.10%	1.10%

Profit Sharing, Retirement S_13

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Estimated Future Benefit Payments (Details) - Pension Plan $ in Millions	Dec. 31, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2024	$ 41.4
2025	39.3
2026	40.8
2027	40.7
2028	43.5
2029 to 2033 (combined)	224.6
Total	430.3
U.S.
Defined Benefit Plan Disclosure [Line Items]
2024	11.5
2025	11
2026	11
2027	10.8
2028	10.6
2029 to 2033 (combined)	50.9
Total	105.8
International
Defined Benefit Plan Disclosure [Line Items]
2024	29.9
2025	28.3
2026	29.8
2027	29.9
2028	32.9
2029 to 2033 (combined)	173.7
Total	$ 324.5

Profit Sharing, Retirement S_14

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Fair Values of Pension Plan Assets, by Asset Category and Level of Fair Values (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 596.1	$ 570.4
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2.4	3
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	218.3	199.6
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	169.2	159.3
NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	206.2	208.5
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.9	7.8
Cash and cash equivalents | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2.4	3
Cash and cash equivalents | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.5	4.8
Cash and cash equivalents | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash and cash equivalents | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fixed income funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	290.5	261
Fixed income funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fixed income funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	174.5	155.2
Fixed income funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fixed income funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	116	105.8
Equity funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	73.2	75.1
Equity funds | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity funds | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	37.9	37.8
Equity funds | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Equity funds | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	35.3	37.3
Other
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	225.5	226.5
Other | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Other | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1.4	1.8
Other | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	169.2	159.3
Other | NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 54.9	$ 65.4

Profit Sharing, Retirement S_15

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Activity in Plan Assets Measured at Fair Value Using Level 3 Inputs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of period	$ 570.4
Loss on assets sold during the year	0	$ (0.8)
Fair value of plan assets at end of period	596.1	570.4
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of period	159.3
Fair value of plan assets at end of period	169.2	159.3
Pension Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of period	570.4	828.3
Foreign exchange gain (loss)	27.5	(51)
Fair value of plan assets at end of period	596.1	570.4
Pension Plan | Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of period	159.3	211.9
Gain (loss) on assets still held at end of year	13.2	(41.2)
Purchases, sales, issuance, and settlements	(12.9)	9.9
Foreign exchange gain (loss)	9.6	(20.5)
Fair value of plan assets at end of period	$ 169.2	$ 159.3

Other Post-Employment Benefit_3

Other Post-Employment Benefit Plans - Narrative (Details) - post-employmentPlan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Number of Other Post-Employment Benefit Plans	2
Analysis of historical utilization rates period	5 years
Other Post-Employment Benefits and Other Employee Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Minimum age of employee for entitlement of other post retirement benefit plans	55 years
Minimum number of years of service for entitlement of other post retirement benefit plans	10 years
Increase in weighted average discount rate basis points		2.70%
Accumulated post-retirement benefit obligations, weighted-average discount rate	5.10%	5.40%
Other Post-Employment Benefits and Other Employee Benefit Plans | U.S plan
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate	7%
Health care cost trend rate assumed for the year	6.80%
Health care cost trend rate, expected decrease	5.50%
Other Post-Employment Benefits and Other Employee Benefit Plans | International plan
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate	5%
Health care cost trend rate assumed for the year	5%

Other Post-Employment Benefit_4

Other Post-Employment Benefit Plans - Reconciliation of Benefit Obligations, Plan Assets and Funded Status for Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Change in plan assets:
Fair value of plan assets at beginning of period	$ 570.4
Fair value of plan assets at end of period	596.1	$ 570.4
Other Post-Employment Benefits and Other Employee Benefit Plans
Change in benefit obligations:
Benefit obligation at beginning of period	33.3	40.4
Interest cost	1.6	0.7	$ 0.6
Actuarial loss (gain)	(1.6)	(5)
Benefits paid, net	(2.9)	(2.8)
Benefit obligation at end of period	30.4	33.3	40.4
Change in plan assets:
Fair value of plan assets at beginning of period	0	0
Employer contribution	2.9	2.8
Benefits paid, net	(2.9)	(2.8)
Fair value of plan assets at end of period	0	0	$ 0
Net amount recognized:
Underfunded status at end of year	(30.4)	(33.3)
Accumulated benefit obligation at end of year	30.4	33.3
Amounts recognized in the consolidated balance sheets consist of:
Current liability	(4.6)	(5)
Non-current liability	(25.8)	(28.3)
Net amount recognized	(30.4)	(33.3)
Amounts recognized in accumulated other comprehensive loss consist of:
Net actuarial gain	(5.3)	(3.8)
Net prior service credit	(1.3)	(1.6)
Total	$ (6.6)	$ (5.4)

Other Post-Employment Benefit_5

Other Post-Employment Benefit Plans - Components of Net Periodic Benefit Cost (Details) - Other Post-Employment Benefits and Other Employee Benefit Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Components of net periodic benefit cost:
Interest cost	$ 1.6	$ 0.7	$ 0.6
Amortization of net actuarial gain	(0.1)	(0.1)	(0.2)
Amortization of net prior service credit	(0.3)	(0.3)	(0.3)
Net periodic benefit cost	1.2	0.3	0.1
Impact of settlement/curtailment	0	0	0
Total benefit cost (income)	$ 1.2	$ 0.3	$ 0.1

Other Post-Employment Benefit_6

Other Post-Employment Benefit Plans - Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income) (Details) - Other Post-Employment Benefits and Other Employee Benefit Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial loss (gain)	$ (1.6)	$ (5)
Amortization of actuarial gain	0.1	0.1
Amortization of prior service credit	0.3	0.3
Total recognized in other comprehensive loss	(1.2)	(4.6)
U.S plan
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial loss (gain)	(1.6)	(4.9)
Amortization of actuarial gain	0	0
Amortization of prior service credit	0.3	0.3
Total recognized in other comprehensive loss	(1.3)	(4.6)
International
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial loss (gain)	0	(0.1)
Amortization of actuarial gain	0.1	0.1
Amortization of prior service credit	0	0
Total recognized in other comprehensive loss	$ 0.1	$ 0

Other Post-Employment Benefit_7

Other Post-Employment Benefit Plans - Expected Future Benefit Payments (Details) - Other Post-Employment Benefits and Other Employee Benefit Plans $ in Millions	Dec. 31, 2023 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2024	$ 4.7
2025	4
2026	3.5
2027	3.1
2028	2.6
2029 to 2033 (combined)	9.8
Total	$ 27.7

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	Apr. 20, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Net tax provision			$ 90.4	$ 238	$ 225
Income taxes payments, net			357.7	192.2	112.6
Foreign net operating losses		$ 191.9	191.9
State tax credits		10.9	10.9
Decrease in valuation allowance			(26.1)
Unremitted foreign earnings		5,300	5,300
Unrecognized tax benefits, increase (decrease)			(183.5)	31.1
Decrease in income tax provision if unrecognized tax benefits were recognized		213.3	213.3
Tax penalties		8.4	8.4	29	10.5
Interest and penalties		97.3	97.3	120.8	80
Unrecognized tax benefits		236.6	236.6	420.1	389	$ 379.6
Settlement agreement (as defined therein) and tax deduction				1,490
U.S federal tax liability, decrease		525	525	525
Payment for estimated tax liability	$ 175
Income tax deposit			(195)	$ 0	$ 0
Minimum
Income Tax Contingency [Line Items]
Reduction in unrecognized tax benefit in the next 12 months		1.7	$ 1.7
Period subject to examination for income tax return			3 years
Statute of limitation period for income tax return in foreign jurisdictions			3 years
Maximum
Income Tax Contingency [Line Items]
Period subject to examination for income tax return			5 years
Statute of limitation period for income tax return in foreign jurisdictions			5 years
Federal
Income Tax Contingency [Line Items]
Tax credit carryforwards amount		6.1	$ 6.1
Foreign Country
Income Tax Contingency [Line Items]
Foreign net operating loss carryforwards		857.2	857.2
State And Local Jurisdiction
Income Tax Contingency [Line Items]
State net operating loss carry forwards		336.4	336.4
Tax credit carryforwards amount		9.5	$ 9.5
State And Local Jurisdiction | Over One
Income Tax Contingency [Line Items]
Operating loss carryforwards, expirations, years			1 year
State And Local Jurisdiction | 19
Income Tax Contingency [Line Items]
Operating loss carryforwards, expirations, years			19 years
Federal | Internal Revenue Service (IRS)
Income Tax Contingency [Line Items]
Net tax provision		(38)
Decrease in unrecognized tax benefits		203
Income tax deposit		$ 122

Income Taxes - Components of Ea

Income Taxes - Components of Earnings Before Income Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 134.8	$ 434	$ 346.2
Foreign	294.9	295.3	370
Earnings before income tax provision	$ 429.7	$ 729.3	$ 716.2

Income Taxes - Components of In

Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current tax expense:
Federal	$ 23.6	$ 154.1	$ 63.1
State and local	13.2	25.6	17.2
Foreign	81.8	88.7	106.6
Total current expense	118.6	268.4	186.9
Deferred tax (benefit) expense:
Federal	(28.1)	(23.4)	9.6
State and local	(5.8)	2.3	6.9
Foreign	5.7	(9.3)	21.6
Total deferred tax (benefit) expense	(28.2)	(30.4)	38.1
Total income tax provision	$ 90.4	$ 238	$ 225

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Accruals not yet deductible for tax purposes	$ 27.5	$ 17.6
Net operating loss carryforwards	222.2	208.4
Foreign, federal and state credits	13.6	9.5
Employee benefit items	41.9	40.3
Capitalized expenses	114.8	36.5
Intangible assets	0	12.6
Derivatives and other	52.2	44.7
Sub-total deferred tax assets	472.2	369.6
Valuation allowance	(205.6)	(179.5)
Total deferred tax assets	266.6	190.1
Depreciation and amortization	(111.4)	(89.1)
Unremitted foreign earnings	1.6	0
Intangible assets	(65)	0
Total deferred tax liabilities	(178)	(89.1)
Net deferred tax assets	$ 88.6	$ 101

Income Taxes - Federal Statutor

Income Taxes - Federal Statutory Corporate Tax Rate Reconciles to Our Effective Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Computed expected tax	$ 90.2	$ 153.2	$ 150.4
State income taxes, net of federal tax benefit	4.8	18.3	15.6
Foreign earnings taxed at different rates	4.5	10.3	16.2
U.S. tax on foreign earnings	14.9	16.8	14.3
Tax credits	(27.6)	(30.6)	(30.2)
Withholding tax	6	7	4.7
Net change in valuation allowance	13	1	3.6
Net change in unrecognized tax benefits	(22.3)	65.3	19.6
Legislative changes	0	0	5.1
Deferred tax adjustments	0.4	0	11.4
Other	6.5	(3.3)	14.3
Total income tax provision	$ 90.4	$ 238	$ 225
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Computed expected tax	21%	21%	21%
State income taxes, net of federal tax benefit	1.10%	2.50%	2.20%
Foreign earnings taxed at different rates	1%	1.40%	2.20%
U.S. tax on foreign earnings	3.50%	2.30%	2%
Tax credits	(6.40%)	(4.20%)	(4.20%)
Withholding tax	1.40%	1%	0.70%
Net change in valuation allowance	3%	0.10%	0.50%
Net change in unrecognized tax benefits	(5.20%)	9%	2.70%
Legislative changes	0%	0%	0.70%
Deferred tax adjustments	0.10%	0%	1.60%
Other	1.50%	(0.50%)	2%
Income tax provision and rate	21%	32.60%	31.40%

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits and Effect on Effective Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance of unrecognized tax benefits	$ 420.1	$ 389	$ 379.6
Additions for tax positions of current year	0.9	1.3	1.8
Additions for tax positions of prior years	7.5	41.6	9.7
Reductions for tax positions of prior years	(0.4)	(4.1)	(1.9)
Reductions for lapses of statutes of limitation and settlements	(191.5)	(7.7)	(0.2)
Ending balance of unrecognized tax benefits	$ 236.6	$ 420.1	$ 389

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) shares in Millions, $ in Millions					3 Months Ended	12 Months Ended
	Oct. 14, 2022 USD ($)	Sep. 09, 2022 USD ($)	Jul. 13, 2020 plaintiff	Feb. 03, 2014 USD ($) shares	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2022 USD ($)
Loss Contingencies [Line Items]
Settlement agreement (as defined therein) and tax deduction							$ 1,490
U.S federal tax liability, decrease						$ 525	525
Principal contractual obligations including agreements to purchase an estimated amount of goods, including raw materials, or services						135.6
Asset retirement obligation liabilities						11.7	8.2
Property and equipment, net						1,416.4	1,275.9
Accumulated depreciation						2,647.4	2,510.5
Accretion expense						0.4	0.5	$ 0.3
Buildings
Loss Contingencies [Line Items]
Property and equipment, net						2.4	2.5
Accumulated depreciation						1.5	1.3
Leasehold Improvements
Loss Contingencies [Line Items]
Property and equipment, net						6.7	4.4
Accumulated depreciation						$ 4.7	$ 3.9
UA Local 13 & Employers Group Insurance Fund, Class Action
Loss Contingencies [Line Items]
Number of plaintiffs | plaintiff			4
Litigation settlement		$ 12.5
Litigation liability									$ 12.5
Insurance receivable									$ 12.5
Gain from class-action litigation settlement	$ 12.5				$ 12.5
WRG Asbestos PI Trust and WRG Asbestos PD Trust
Loss Contingencies [Line Items]
Original number of shares expected to be issued under settlement agreement, adjusted | shares				18
North American Foam Trays And Absorbent Pads
Loss Contingencies [Line Items]
Proceeds from sale of businesses				$ 929.7

Commitments and Contingencies_2

Commitments and Contingencies - Estimated Future Cash Outlays Related to Principal Contractual Obligations (Details) $ in Millions	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2024	$ 100.8
2025	22.3
2026	9
2027	3.2
2028	0.3
Total	$ 135.6

Stockholders_ Equity - Repurcha

Stockholders’ Equity - Repurchase of Common Stock and Retirement of Treasury Shares (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Aug. 02, 2021	May 31, 2018
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of common stock shares repurchased (in shares)	1,529,575
Value of shares repurchased	$ 79.8
Common stock repurchase (price per share)	$ 52.20
Treasury stock value	$ 80.1	$ 280.2	$ 401.6
Treasury stock retired	80,000,000	0	0
Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of common stock shares repurchased (in shares)			35,100
Value of shares repurchased			$ 1.6
Common Stock in Treasury
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Treasury stock retired	80,000,000
August 2021 Share Repurchase Program
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock repurchase program, authorized amount				$ 1,000
Stock repurchase program, remaining authorized repurchase amount	$ 536.5
May 2018 Repurchase Program
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock repurchase program, authorized amount					$ 1,000
Common Stock Repurchase Set Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of common stock shares repurchased (in shares)		4,527,887
Value of shares repurchased		$ 280.1
Common stock repurchase (price per share)		$ 61.86
Common Stock Repurchase Set One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of common stock shares repurchased (in shares)			7,875,407
Common stock repurchase (price per share)			$ 50.96
Treasury stock value			$ 401.4

Stockholders_ Equity - Summary

Stockholders’ Equity - Summary of Cash Dividends Paid (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Total Cash Dividends Paid	$ 117.9	$ 118.4	$ 115.8
Total Cash Dividends Paid Per Common Share (in dollars per share)	$ 0.80	$ 0.80	$ 0.76

Stockholders_ Equity - Dividend

Stockholders’ Equity - Dividends Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Feb. 21, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Common stock, shares issued (in shares)		154,054,011	233,233,456	232,483,281	231,958,083
Common stock, shares outstanding (in shares)		144,467,719	144,672,113	148,099,157
Dividends per share on common stock (in dollars per share)		$ 0.80	$ 0.80	$ 0.76
Subsequent Event
Subsequent Event [Line Items]
Dividends payable	$ 28.9
Common stock, shares issued (in shares)	144,500,000
Common stock, shares outstanding (in shares)	144,500,000
Dividends per share on common stock (in dollars per share)	$ 0.20

Stockholders_ Equity - Summar_2

Stockholders’ Equity - Summary of Changes in Common Stock and Common Stock in Treasury (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares, beginning of year (in shares)	233,233,456	232,483,281	231,958,083
Canceled shares for tax netting (in shares)	0	0	(44,914)
Shares canceled and retired	(80,000,000)	0	0
Number of shares issued, end of year (in shares)	154,054,011	233,233,456	232,483,281
Number of shares held, beginning of year (in shares)	88,561,343
Shares canceled and retired	(80,000,000)	0	0
Repurchase of common stock (in shares)	1,529,575
Number of shares held, end of year (in shares)	9,586,292	88,561,343
Number of common stock outstanding, end of year (in shares)	144,467,719	144,672,113	148,099,157
Common Stock in Treasury
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares canceled and retired	(80,000,000)	0	0
Number of shares held, beginning of year (in shares)	88,561,343	84,384,124	77,068,311
Shares canceled and retired	(80,000,000)	0	0
Repurchase of common stock (in shares)	1,529,575	4,527,887	7,949,688
Profit sharing contribution paid in stock (in shares)	(504,626)	(350,668)	(633,875)
Number of shares held, end of year (in shares)	9,586,292	88,561,343	84,384,124
Shares repurchased not reflected (in shares)			74,281
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors (in shares)	33,444	19,583	54,277
Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock shares forfeited (in shares)	0	0	(1,095)
Restricted stock | Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock shares forfeited (in shares)	0	0	(1,095)
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued for vested restricted stock units (in shares)	466,634	532,727	423,302
Restricted stock units | Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock shares forfeited (in shares)	(151,671)	(109,317)	(115,641)
Shares issued (in shares)	804,175	608,955	918,973
Shares issued for 2018 three-year PSU awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued for awards (in shares)	0	0	47,730
Shares issued for 2018 three-year PSU awards | Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued (in shares)	0	0	47,730
2019 Three-year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued for awards (in shares)	0	161,289	0
2019 Three-year PSU Awards | Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued (in shares)	0	161,289	0
2020 Three-year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued for awards (in shares)	273,438	0	13,770
2020 Three-year PSU Awards | Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued (in shares)	273,438	0	13,770
Shares issued for other performance-based awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued for awards (in shares)	6,839	0	0
Shares issued for other performance-based awards | Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued (in shares)	6,839	0	0
SLO Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Shares issued (in shares)	40,200	36,576	32,128

Stockholders_ Equity - Share-ba

Stockholders’ Equity - Share-based Compensation and Summary of Changes in Common Shares Available for Awards under Omnibus Incentive Plan and Predecessor Plans (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2018	May 22, 2014
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Contingently issuable shares (in shares)	1,700,000
Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock shares forfeited (in shares)	0	0	1,095
2014 Omnibus Incentive Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
The maximum number of shares of Common Stock authorized (in shares)					4,250,000
Number of additional shares authorized (in shares)	0	0	2,999,054	2,199,114
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Newly approved shares under Omnibus Incentive Plan (in shares)	0	0	2,999,054	2,199,114
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares available, beginning of year (in shares)	5,089,324	5,510,599	3,183,310
Shares withheld for taxes (in shares)	270,454	301,151	290,439
Number of shares available, end of year (in shares)	4,354,974	5,089,324	5,510,599
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors | Restricted stock
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock shares forfeited (in shares)	0	0	1,095
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors | Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock shares forfeited (in shares)	151,671	109,317	115,641
Restricted stock units awarded/shares issued (in shares)	(804,175)	(608,955)	(918,973)
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors | Shares issued for 2018 three-year PSU awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units awarded/shares issued (in shares)	0	0	(47,730)
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors | 2019 Three-year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units awarded/shares issued (in shares)	0	(161,289)	0
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors | 2020 Three-year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units awarded/shares issued (in shares)	(273,438)	0	(13,770)
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors | Shares issued for other performance-based awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units awarded/shares issued (in shares)	(6,839)	0	0
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors | Restricted stock units awarded for SLO awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock units awarded/shares issued (in shares)	(32,330)	(37,756)	(72,043)
Directors Stock Plan
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Director shares granted and issued (in shares)	(21,341)	(10,606)	(10,160)
Director units granted and deferred (in shares)	(18,352)	(13,137)	(16,264)

Stockholders_ Equity - Summariz

Stockholders’ Equity - Summarizes the Company's Pre-tax Share-based Incentive Compensation Expense and Income Tax Benefit (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		$ 34,200,000	$ 52,300,000	$ 45,800,000
Associated tax benefits recognized		7,500,000	8,000,000	7,500,000
Other long-term share-based incentive compensation programs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		32,100,000	33,600,000	32,000,000
2023 Five-year ESG PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		$ 2,500,000	0	0
PSU awards performance period	5 years	5 years
2023 Three-year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		$ 2,700,000	0	0
2022 Three year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		(200,000)	4,800,000	0
2021 Three YearPSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		(2,300,000)	7,100,000	4,200,000
2020 Three-year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		0	5,100,000	4,500,000
2019 Three-year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		0	0	2,200,000
2017 COO and Chief Executive Officer-Designate New Hire Equity Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		0	0	100,000
SLO Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		$ (600,000)	$ 1,700,000	$ 2,800,000
Three-year PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
PSU awards performance period		3 years	3 years	3 years
Other PSU Awards | Other long-term share-based incentive compensation programs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based incentive compensation expense		$ 400,000	$ 100,000	$ 0

Stockholders_ Equity - Summar_3

Stockholders’ Equity - Summary of Unvested Restricted Stock and Restricted Stock Unit (Detail) - Restricted Stock Units $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at beginning of period (in shares) | shares	1,376,406
Granted (in shares) | shares	804,175
Vested (in shares) | shares	(705,785)
Forfeited or expired (in shares) | shares	(151,671)
Non-vested at end of period (in shares) | shares	1,323,125
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Non-vested, beginning of period (in dollars per share) | $ / shares	$ 51.04
granted (in dollars per share) | $ / shares	47.33
Vested (in dollars per share) | $ / shares	45.63
Forfeited or expired (in dollars per share) | $ / shares	52.79
Non-vested, end of period (in dollars per share) | $ / shares	$ 51.47
Aggregate Intrinsic Value | $	$ 32.2

Stockholders_ Equity - Summar_4

Stockholders’ Equity - Summary of Vested Restricted Stock (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock shares vested	$ 0	$ 0	$ 6.1
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock shares vested	$ 33.6	$ 51.6	$ 26.4

Stockholders_ Equity - Unrecogn

Stockholders’ Equity - Unrecognized Compensation Cost for Non-vested Restricted Shares (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs of non-vested cash awards excluded	$ 1.4
Cash paid for vested cash-settled stock unit awards	1.7	$ 2.3
Other Current Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment liabilities	0.8	$ 1.4
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 45.8
Weighted Average to be recognized (in years)	1 year
Weighted average remaining contractual life (in years)	1 year

Stockholders_ Equity - PSU Awar

Stockholders’ Equity - PSU Awards, ESG Awards and Stock Leverage Opportunity Awards (Detail) - shares	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period in beginning of each year to award performance share unit			90 days
Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU awards performance period			3 years	3 years	3 years
Return on ROIC weighted percentage				50%
2022 Three year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compound annual growth rate weighted average percentage				50%
Calculation of final achievement on each performance metric, upward or downward adjustment percentage, combined achievement percentage, based on results of a relative total shareholder return modifier				25%
Shareholder return, top quartile of comparator group overall achievement of performance metrics, increase percentage				25%
Shareholder return, bottom quartile of comparator group overall achievement of performance metrics, decrease percentage				25%
Compound annual growth rate of consolidated adjusted EBITDA period				3 years
2022 Three year PSU 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 PSU 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%
2023 Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compound annual growth rate weighted average percentage			50%
Calculation of final achievement on each performance metric, upward or downward adjustment percentage, combined achievement percentage, based on results of a relative total shareholder return modifier			25%
Shareholder return, top quartile of comparator group overall achievement of performance metrics, increase percentage			25%
Shareholder return, bottom quartile of comparator group overall achievement of performance metrics, decrease percentage				25%
Compound annual growth rate of consolidated adjusted EBITDA period			3 years
2023 Three-year PSU 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%
2023 Three-year PSU 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%
2020- 2022 Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance units paid out percentage	172.40%
Performance units paid out (in units)	457,461
Shares withheld for tax (in shares)	183,109
Designated as cash settled awards (in shares)	914
Granted (in shares)	273,438
2023 Five-year ESG PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU awards performance period		5 years	5 years
ESG, sustainability weighted average percentage		75%
ESG, social goals weighted average percentage		25%
2023 Five-year ESG PSU 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%
2023 Five-year ESG PSU 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		187.50%
SLO Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			40,200	36,576	32,128
Increments of cash bonus, percent			25%
Restricted stock units awarded for SLO awards | Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			32,330	37,756	72,043
Compensation expense recognition period				15 months

Stockholders_ Equity - Summar_5

Stockholders’ Equity - Summary of Number of PSUs Granted Based on Adjusted EBITDA, ROIC and ESG at Grant Date Fair Value (Detail) - $ / shares	Apr. 18, 2023	Mar. 01, 2023	Feb. 21, 2023	Mar. 01, 2022	Feb. 24, 2022	Mar. 01, 2021	Feb. 11, 2021	Feb. 10, 2021
2023 Three-year PSU Awards | Adjusted EBITDA CAGR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)		22,963	93,343
Fair value on grant date (in dollars per share)		$ 49.05	$ 48.46
2023 Three-year PSU Awards | ROIC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)		22,963	93,343
Fair value on grant date (in dollars per share)		$ 49.05	$ 48.46
2022 Three year PSU Awards | 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 (in dollars per share)				$ 69.71	$ 70.92
2022 Three year PSU Awards | 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 (in dollars per share)				$ 69.71	$ 70.92
2021 Three YearPSU Awards | Adjusted EBITDA CAGR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)						29,762	51,882	41,729
Fair value on grant date (in dollars per share)						$ 43.02	$ 43.85	$ 45.26
2021 Three YearPSU Awards | ROIC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)						29,762	51,882	41,729
Fair value on grant date (in dollars per share)						$ 43.02	$ 43.85	$ 45.26
2023 Five-year ESG PSU Awards | Environmental Goals
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)	20,811		204,172
Fair value on grant date (in dollars per share)	$ 46.85		$ 48.55
2023 Five-year ESG PSU Awards | Social Goals
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)	8,005		78,528
Fair value on grant date (in dollars per share)	$ 46.85		$ 48.55

Stockholders_ Equity - Summar_6

Stockholders’ Equity - Summary of Assumptions Used to Calculate Grant Date Fair Value (Details)	Mar. 01, 2023	Feb. 21, 2023	Mar. 01, 2022	Feb. 24, 2022	Mar. 01, 2021	Feb. 11, 2021	Feb. 10, 2021
2021 Three YearPSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected price volatility					38%	37.70%	37.70%
Risk-free interest rate					0.30%	0.20%	0.20%
2022 Three year PSU Awards
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%
2023 Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected price volatility	31.70%	32.90%
Risk-free interest rate	4.60%	4.40%

Stockholders_ Equity - Summar_7

Stockholders’ Equity - Summary of Estimated Earned Payout (Detail)	12 Months Ended
	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrual at fair value over performance period, percentage	100%
2023 Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated Payout Percentage Adjusted EBITDA CAGR	100%
Estimated Payout Percentage, ROIC	100%
Estimated payout TSR Modifier percentage	(25.00%)
Estimated Payout Combined	75%
2022 Three year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated Payout Percentage Adjusted EBITDA CAGR	0%
Estimated Payout Percentage, ROIC	200%
Estimated payout TSR Modifier percentage	(25.00%)
Estimated Payout Combined	75%
2021 Three YearPSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated Payout Percentage Adjusted EBITDA CAGR	0%
Estimated Payout Percentage, ROIC	200%
Estimated payout TSR Modifier percentage	(25.00%)
Estimated Payout Combined	75%

Stockholders_ Equity - Summar_8

Stockholders’ Equity - Summary of Activity for Outstanding Three-year and Five-year ESG PSU Awards (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU awards performance period		3 years	3 years	3 years
Three-year PSU Awards | Minimum
Aggregate Intrinsic Value (In millions)
Performance units granted percentage		0%
Three-year PSU Awards | Maximum
Aggregate Intrinsic Value (In millions)
Performance units granted percentage		250%
Five -year ESG Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU awards performance period	5 years	5 years
Five -year ESG Awards | Minimum
Aggregate Intrinsic Value (In millions)
Performance units granted percentage		0%
Five -year ESG Awards | Maximum
Aggregate Intrinsic Value (In millions)
Performance units granted percentage		187.50%
PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)	674,687	674,687
Granted (in shares)		544,128
Performance adjustment (in shares)		190,044
Converted (in shares)		(457,461)
Forfeited or expired (in shares)		(84,086)
Outstanding at end of period (in shares)		867,312	674,687
Fully vested at end of period (in shares)		260,601
Aggregate Intrinsic Value (In millions)
Converted		$ 15.5
Fully vested at end of period		$ 12.4

Stockholders_ Equity - Summar_9

Stockholders’ Equity - Summary of Activity for Non-vested Three-year PSU awards (Detail) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU awards performance period		3 years	3 years	3 years
Five -year ESG Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU awards performance period	5 years	5 years
PSU Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at beginning of period (in shares)	380,093	380,093
Granted (in shares)		544,128
Vested (in shares)		(233,424)
Forfeited or expired (in shares)		(84,086)
Non-vested at end of period (in shares)		606,711	380,093
Weighted-Average per Share Fair Value on Grant Date
Non-vested, beginning of period (in dollars per share)	$ 56.03	$ 56.03
Granted (in dollars per share)		48.46
Vested (in dollars per share)		46.97
Forfeited or expired (in dollars per share)		53.29
Non-vested, end of period (in dollars per share)		$ 53.07	$ 56.03

Stockholders_ Equity - Schedule

Stockholders’ Equity - Schedule of Fair Value of Vested for Three-year PSU Awards (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU awards performance period		3 years	3 years	3 years
Five -year ESG Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU awards performance period	5 years	5 years
PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of PSU awards vested		$ 9.5	$ 14.7	$ 17.8

Stockholders_ Equity - Summa_10

Stockholders’ Equity - Summary of Unrecognized Compensation Cost for Three-year PSU Awards and Weighted Average Period (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
2023 Five-year ESG PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 5.2
Weighted Average to be recognized (in years)	4 years
2023 Three-year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 2.9
Weighted Average to be recognized (in years)	2 years
2022 Three year PSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 1.2
Weighted Average to be recognized (in years)	1 year
2021 Three YearPSU Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 0
Weighted Average to be recognized (in years)	0 years

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Details of Comprehensive Loss (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ (344.1)
Other comprehensive income (loss) before reclassifications	22.6	$ (40.5)
Less: amounts reclassified from accumulated other comprehensive loss	0.7	(4.4)	$ 7.5
Other comprehensive income (loss)	23.3	(44.9)	29.6
Balance at end of period	(549.5)	(344.1)
Intra-entity foreign currency translation adjustment	(770.6)	(837.5)
Unrecognized Pension Items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	126.3	137.5
Other comprehensive income (loss) before reclassifications	(23.8)	7.3
Less: amounts reclassified from accumulated other comprehensive loss	3.7	3.9
Other comprehensive income (loss)	(20.1)	11.2
Balance at end of period	146.4	126.3	137.5
Cumulative Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	837.5	760.5
Other comprehensive income (loss) before reclassifications	66.9	(77)
Less: amounts reclassified from accumulated other comprehensive loss	0	0
Other comprehensive income (loss)	66.9	(77)
Balance at end of period	770.6	837.5	760.5
Cumulative Translation Adjustment | Intra-entity transactions
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Intra-entity foreign currency translation adjustment	12.9	(15.8)	(30.2)
Unrecognized (Losses) Gains on Derivative Instruments for Net Investment Hedge and Cash Flow Hedge | Net Investment Hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	18.3	38.3
Other comprehensive income (loss) before reclassifications	(19.8)	20
Less: amounts reclassified from accumulated other comprehensive loss	0	0
Other comprehensive income (loss)	(19.8)	20
Balance at end of period	38.1	18.3	38.3
Unrecognized (Losses) Gains on Derivative Instruments for Net Investment Hedge and Cash Flow Hedge | Cash Flow Hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(3.3)	(2.4)
Other comprehensive income (loss) before reclassifications	(0.7)	9.2
Less: amounts reclassified from accumulated other comprehensive loss	(3)	(8.3)
Other comprehensive income (loss)	(3.7)	0.9
Balance at end of period	0.4	(3.3)	(2.4)
Accumulated  Other Comprehensive  Loss, Net of  Taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	978.8	933.9
Balance at end of period	$ 955.5	$ 978.8	$ 933.9

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Schedule of Detail of Amounts Reclassified from Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other (expense) income, net	$ (61.9)	$ (53.2)	$ (16.9)
Cost of sales	(3,847.6)	(3,869)	(3,852.9)
Total pre-tax provision	(429.7)	(729.3)	(716.2)
Income tax provision (Note 19)	90.4	238	225
Net of tax	(339.3)	(491.3)	(491.2)
Total reclassifications for the period	(0.7)	4.4	(7.5)
Defined benefit pension plans and other post-employment benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications for the period	(3.7)	(3.9)
Net losses) gains on cash flow hedging derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total pre-tax provision	4.3	11	(1.8)
Income tax provision (Note 19)	(1.3)	(2.7)	0.6
Net of tax	3	8.3	(1.2)
Net losses) gains on cash flow hedging derivatives | Foreign currency forward contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cost of sales	4.2	10.9	(1.9)
Net losses) gains on cash flow hedging derivatives | Treasury locks
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense, net	0.1	0.1	0.1
Reclassification out of Accumulated Other Comprehensive Income | Settlements
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other (expense) income, net	(0.2)	0	(0.9)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of net prior service credit
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other (expense) income, net	0.1	0	0
Reclassification out of Accumulated Other Comprehensive Income | Amortization of net actuarial loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other (expense) income, net	(4.7)	(5.2)	(7.4)
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 provision	(4.8)	(5.2)	(8.3)
Income tax provision (Note 19)	1.1	1.3	2
Net of tax	$ (3.7)	$ (3.9)	$ (6.3)

Other Expense, net (Details)

Other Expense, net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Income and Expenses [Abstract]
Net foreign exchange transaction loss	$ (15,300,000)	$ (7,200,000)	$ (700,000)
Bank fee expense	(5,600,000)	(5,100,000)	(5,000,000)
Pension (expense) income other than service costs	(8,700,000)	4,800,000	4,400,000
Impairment (loss)/fair value gain on equity investments, net	0	(30,600,000)	6,600,000
Impairment of debt investment	0	0	(8,000,000)
Foreign currency exchange loss due to highly inflationary economies	(23,100,000)	(8,800,000)	(3,600,000)
Loss on debt redemption and refinancing activities	13,200,000	11,200,000	18,600,000
Other income	10,400,000	11,700,000	13,200,000
Other (expense)	(6,400,000)	(6,800,000)	(5,200,000)
Other expense, net	(61,900,000)	(53,200,000)	(16,900,000)
Investments			8,000,000
Available-for-sale, debt security allowance for credit losses	0	0
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other income	10,400,000	11,700,000	13,200,000
Available-for-sale, debt security allowance for credit losses	$ 0	$ 0
Income Tax Receivable
Other Income and Expenses [Abstract]
Other income			5,000,000
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other income			$ 5,000,000

Net Earnings per Common Share_2

Net Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net earnings	$ 341.6	$ 491.6	$ 506.8
Distributed and allocated undistributed net earnings to unvested restricted stockholders	0	0	0
Net Income (Loss) Available to Common Stockholders, Basic, Total	$ 341.6	$ 491.6	$ 506.8
Denominator
Weighted average number of common shares outstanding - basic (in shares)	144,400,000	145,900,000	150,900,000
Basic net earnings per common share
Basic net earnings per common share (in dollars per share)	$ 2.37	$ 3.37	$ 3.36
Numerator:
Net earnings available to common stockholders	$ 341.6	$ 491.6	$ 506.8
Denominator:
Weighted average number of common shares outstanding - basic (in shares)	144,400,000	145,900,000	150,900,000
Effect of dilutive stock shares and units (in shares)	500,000	1,500,000	1,500,000
Weighted average number of common shares outstanding - diluted under treasury stock (in shares)	144,900,000	147,400,000	152,400,000
Diluted net earnings per common share - (in dollars per share)	$ 2.36	$ 3.33	$ 3.32
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Diluted (in shares)	144,900,000	147,400,000	152,400,000
PSU Awards
Denominator:
Weighted average number of common shares outstanding - diluted under treasury stock (in shares)	200,000	800,000	600,000
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Diluted (in shares)	200,000	800,000	600,000
SLO Awards
Denominator:
Weighted average number of common shares outstanding - diluted under treasury stock (in shares)	0	0	0
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Diluted (in shares)	0	0	0

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts and Reserves (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for credit losses on trade receivables
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 11.5	$ 11.1	$ 11.7
Charged to Costs and Expenses	3.1	6.2	2.1
Deductions	0	(5.6)	(2.5)
Foreign Currency Translation and Other	0.3	(0.2)	(0.2)
Balance at End of Year	14.9	11.5	11.1
Inventory obsolescence reserve
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	28.9	24.1	21.1
Charged to Costs and Expenses	18.3	19.8	9.5
Deductions	(4.3)	(14.6)	(5.8)
Foreign Currency Translation and Other	0.4	(0.4)	(0.7)
Balance at End of Year	43.3	28.9	24.1
Valuation allowance on deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	179.5	189.6	207.1
Charged to Costs and Expenses	13.2	2	3.7
Deductions	(0.2)	(1.9)	(6.2)
Foreign Currency Translation and Other	13.1	(10.2)	(15)
Balance at End of Year	205.6	179.5	189.6
Allowance for credit loss on debt investment
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	0	8	0
Charged to Costs and Expenses	0	0	8
Deductions	0	(8)	0
Foreign Currency Translation and Other	0	0	0
Balance at End of Year	$ 0	$ 0	$ 8