Bemis 10-Q 27 Jul 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 25, 2018
Document Information [Line Items]
Entity Registrant Name	BEMIS CO INC
Entity Central Index Key	11,199
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		91,015,307
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net sales	$ 1,033.3	$ 1,012.1	$ 2,060.7	$ 2,007.5
Cost of products sold	831.6	826	1,661	1,623.1
Gross profit	201.7	186.1	399.7	384.4
Operating expenses:
Selling, general and administrative expenses	96.8	98.6	193.7	194.6
Research and development	9.4	11.1	19.4	23.6
Restructuring and other costs	21	23.8	34.4	28.2
Other Operating Income (Expense), Net	(4.2)	(3.1)	(7)	(6.1)
Operating income	78.7	55.7	159.2	144.1
Interest expense	18.7	16	37.6	32
Other non-operating (income) expense, net	(0.7)	(1.4)	(1.6)	(3.3)
Income from continuing operations before income taxes	60.7	41.1	123.2	115.4
Provision for income taxes	14	13.1	28.9	36.3
Net income	$ 46.7	$ 28	$ 94.3	$ 79.1
Net income, per basic share	$ 0.51	$ 0.31	$ 1.03	$ 0.86
Net income, per diluted share	0.51	0.30	1.03	0.85
Cash dividends paid per share (in dollars per share)	$ 0.31	$ 0.30	$ 0.62	$ 0.60

CONDENSED STATEMENT OF COMPREHE

CONDENSED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income	$ 46.7	$ 28	$ 94.3	$ 79.1
Translation adjustments	(95.8)	(4)	(80.2)	25.9
Pension and other postretirement liability adjustments, net of tax	3.1	2.3	6.1	4.4
Other comprehensive income (loss)	(92.7)	(1.7)	(74.1)	30.3
Total comprehensive income (loss)	(46)	26.3	20.2	109.4
Tax amounts related to pension and postretirement liability adjustments	$ 0.9	$ 1.3	$ 2	$ 2.7

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 51	$ 71.1
Trade receivables	480.8	448.7
Inventories	615.8	620.2
Prepaid expenses and other current assets	94.2	97.1
Total current assets	1,241.8	1,237.1
Property and equipment, net	1,272.6	1,318.1
Goodwill	848.7	852.7
Other intangible assets, net	130.6	142.3
Deferred charges and other assets	130.7	149.7
Total other long-term assets	1,110	1,144.7
TOTAL ASSETS	3,624.4	3,699.9
LIABILITIES
Current portion of long-term debt	1.8	5
Short-term borrowings	15.4	16
Accounts payable	484.3	477.2
Employee-related liabilities	78.9	73.1
Accrued income and other taxes	26.5	30.5
Other current liabilities	61.8	64.3
Total current liabilities	668.7	666.1
Long-term debt, less current portion	1,501.7	1,542.4
Deferred taxes	157.1	153.5
Other liabilities and deferred credits	128.3	136.7
Total Liabilities	2,455.8	2,498.7
Bemis Company, Inc. shareholders' equity:
Common stock issued	12.9	12.9
Capital in excess of par value	594.5	590.4
Retained earnings	2,362.2	2,324.8
Accumulated other comprehensive loss	(468.6)	(394.5)
Common stock held in treasury	(1,332.4)	(1,332.4)
Total Equity	1,168.6	1,201.2
TOTAL LIABILITIES AND EQUITY	$ 3,624.4	$ 3,699.9

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - shares shares in Millions	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, shares issued	129.3	129.1
Common stock held in treasury, shares	38.3	38.3

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities
Net income	$ 94.3	$ 79.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	85.7	85
Share-based compensation	9.7	8.8
Deferred income taxes	0.2	2.3
Income of unconsolidated affiliated company	(1.3)	(1.4)
Proceeds from Equity Method Investment, Distribution	2.3	0
(Gain) loss on sale or write-off of property and equipment	2.6	4.7
Changes in working capital, excluding effect of acquisitions, divestitures and currency	(40.9)	25.2
Changes in other assets and liabilities	8.2	(3.2)
Net Cash Provided by (Used in) Operating Activities	160.8	200.5
Cash flows from investing activities
Additions to property and equipment	(82.9)	(97.2)
Proceeds from sale of property and equipment	1.7	0.5
Net Cash Provided by (Used in) Investing Activities	(81.2)	(96.7)
Cash flows from financing activities
Proceeds from issuance of long-term debt	0	2.2
Repayment of long-term debt	(3.3)	0
Net (repayment) borrowing of commercial paper	(30.6)	(13.3)
Net (repayment) borrowing of short-term debt	(0.2)	(1.6)
Cash dividends paid to shareholders	(57.4)	(56.7)
Common stock purchased for the treasury	0	(48.9)
Stock incentive programs and related tax withholdings	(5.6)	(8.5)
Net Cash Provided by (Used in) Financing Activities	(97.1)	(126.8)
Effect of Exchange Rate on Cash and Cash Equivalents	(2.6)	3.8
Cash and Cash Equivalents, Period Increase (Decrease)	(20.1)	(19.2)
Cash and cash equivalents balance at beginning of year	71.1	74.2
Cash and cash equivalents balance at end of period	$ 51	$ 55

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Millions	Total	Common Stock	Capital In Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Common Stock Held In Treasury
Balance at Dec. 31, 2016	$ 1,259.7	$ 12.9	$ 581.5	$ 2,341.7	$ (447.8)	$ (1,228.6)
Increase (Decrease) in Shareholders' Equity
Net income	79.1			79.1
Other comprehensive income (loss)	30.3				30.3
Cash dividends declared on common stock	(55.8)			(55.8)
Stock incentive programs and related tax withholdings	(8.5)		(8.5)
Share-based compensation	8.8		8.8
Purchase of common stock	(48.9)					(48.9)
Balance at Jun. 30, 2017	1,264.7	12.9	581.8	2,365	(417.5)	(1,277.5)
Balance at Dec. 31, 2017	1,201.2	12.9	590.4	2,324.8	(394.5)	(1,332.4)
Increase (Decrease) in Shareholders' Equity
Net income	94.3			94.3
Other comprehensive income (loss)	(74.1)				(74.1)
Cash dividends declared on common stock	(56.9)			(56.9)
Stock incentive programs and related tax withholdings	(5.6)		(5.6)
Share-based compensation	9.7		9.7
Balance at Jun. 30, 2018	$ 1,168.6	$ 12.9	$ 594.5	$ 2,362.2	$ (468.6)	$ (1,332.4)

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) - shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Statement of Stockholders' Equity [Abstract]
Stock incentive programs and related tax withholdings, shares	200,000	300,000
Purchase of common stock, shares	0	1,000,000

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Bemis Company, Inc. (the "Company") in accordance with accounting principles for interim financial information generally accepted in the United States and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes necessary for a comprehensive presentation of financial position and results of operations. It is management’s opinion, however, that all material adjustments (consisting of normal recurring accruals) have been made which are necessary for a fair statement of its financial position, results of operations and cash flows. For further information, refer to the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 .

New Accounting Guidance (Notes)

New Accounting Guidance (Notes)	6 Months Ended
	Jun. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	New Accounting Guidance Recently Adopted Accounting Standards In March 2017, the Financial Accounting Standards Board ("FASB") issued guidance that will change how employers that sponsor defined benefit pension and other postretirement benefit plans present the cost of the benefits in the income statement. Under the new guidance, employers will present only the service cost component of the net periodic benefit cost in the same income statement line item as other employee compensation costs arising from services rendered during the period. In addition, only the service cost component will be eligible for capitalization in assets. Employers will present the other components separately from the line item that includes the service cost and outside of any subtotal of operating income. Other components of net periodic benefit cost are presented in other non-operating income on the condensed consolidated statement of income. The guidance was adopted by the Company in the first quarter of 2018, using the practical expedient permitting the use of the amounts disclosed in pension and other postretirement benefit plan notes as the estimation basis for the presentation of the prior comparative periods. The income statement reclassifications are summarized as follows: Three Months Ended June 30, 2017 (in millions) As reported Reclassification As reclassified Income statement: Cost of products sold 826.2 (0.2 ) 826.0 Selling, general, and administrative expenses 97.6 1.0 98.6 Other non-operating income (0.6 ) (0.8 ) (1.4 ) Six Months Ended June 30, 2017 (in millions) As reported Reclassification As reclassified Income statement: Cost of products sold 1,623.7 (0.6 ) 1,623.1 Selling, general, and administrative expenses 192.2 2.4 194.6 Other non-operating income (1.5 ) (1.8 ) (3.3 ) In January 2017, the FASB issued new guidance that narrows the application of when an integrated set of assets and activities is considered a business and provides a framework to assist entities in evaluating whether both an input and a substantive process are present to be considered a business. It is expected that the new guidance will reduce the number of transactions that would need to be further evaluated and accounted for as a business. The guidance was adopted by the Company in the first quarter of 2018. In August 2016, the FASB issued guidance to simplify elements of cash flow classification. The guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The new guidance requires cash payments for debt prepayment or debt extinguishment costs to be classified as cash outflows for financing activities. It also requires cash payments made soon after an acquisition's consummation date (approximately three months or less) to be classified as cash outflows for investing activities. Payments made thereafter should be classified as cash outflows for financing activities up to the amount of the original contingent consideration liability. Payments made in excess of the amount of the original contingent consideration liability should be classified as cash outflows for operating activities. The guidance was adopted by the Company in the first quarter of 2018. In May 2014, the FASB issued new guidance which supersedes current revenue recognition requirements. This guidance is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted the new revenue guidance on January 1, 2018 using the modified retrospective application transition method. We elected the practical expedient to apply the new revenue standard to only contracts that were not completed as of January 1, 2018. Adoption did not have an impact on our financial statements, but did significantly impact our disclosures for revenue. Refer to Note 2 for updated revenue disclosures which are required by the new guidance. Recently Issued Accounting Standards In February 2018, the FASB issued guidance on the reclassification of certain tax effects from accumulated other comprehensive income. The guidance requires the Company to disclose a description of the Company’s accounting policy for releasing income tax effects from accumulated other comprehensive income and whether the Company elects to reclassify the stranded income tax effects from the Tax Cuts and Jobs Act, along with information about other income tax effects that are reclassified. The guidance is required to be applied by the Company in 2019, with early adoption permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements. In August 2017, the FASB issued guidance that amends the hedge accounting rules to better portray the economic results of risk management activities in the financial statements and also to make targeted improvements to simplify the application of hedge accounting guidance. The guidance is required to be applied by the Company in the first quarter of 2019, but early adoption is permitted. The Company is currently evaluating the impact of this standard on its consolidated financial statements. In February 2016, the FASB issued guidance that required lessees to put most leases on their balance sheets but recognize expenses on their income statements in a manner similar to today’s accounting. The guidance also eliminates today’s real estate-specific provisions and changes the guidance on sale-leaseback transactions, initial direct costs and lease executory costs for all entities. Lease classification will determine how to recognize lease-related revenue and expense. A modified retrospective method of adoption is required with the option to use certain practical expedients. The Company has formed a cross-functional implementation project team that is working to identify all lease contracts. The project team has begun the solution development phase of the project, during which it will develop and implement any new processes required to ensure the requirements of the new guidance are met. The Company has not yet completed its assessment of the impact of the new guidance on its consolidated financial statements. The Company will adopt the guidance in January 2019 when the guidance becomes effective.

Restructuring and Other Costs (

Restructuring and Other Costs (Notes)	6 Months Ended
	Jun. 30, 2018
Restructuring and Other Costs [Abstract]
Restructuring and Other Costs [Text Block]	Note 4 - Restructuring and Other Costs Restructuring and other costs as reported on the condensed consolidated statement of income are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2018 2017 2018 2017 Restructuring costs $ 9.5 $ 23.8 $ 14.8 $ 28.2 Restructuring related costs 11.5 — 19.6 — Total restructuring and other costs $ 21.0 $ 23.8 $ 34.4 $ 28.2 Restructuring costs include the 2016 Plan focused on plant closures in Latin America and the 2017 Plan focused on aligning the Company's cost structure to its environment. Refer to Note 5 — Restructuring Plans for details for both the 2016 and 2017 Plans regarding expenses incurred and cash payments to date, in addition to disaggregation of costs by segment and cost category. Restructuring related costs primarily include professional fees for consultants related to the Company's Agility plan.

Restructuring (Notes)

Restructuring (Notes)	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring Plans 2016 Restructuring and Cost Savings Plan ("2016 Plan") During the second quarter of 2016, the Company initiated a restructuring and cost savings plan to improve efficiencies and reduce fixed costs. As a part of this plan, four Latin American facilities were closed. Most of the production from these facilities was transferred to other facilities. As of June 30, 2018 , manufacturing operations had ceased at all four of these manufacturing facilities. Based on current estimates and actual charges to date, the Company expects total pre-tax restructuring costs of approximately $ 31 million , with approximately $ 13 million in employee termination costs, approximately $ 1 million in fixed asset related costs, and $ 17 million in other costs, which primarily represent the cost to move and re-install equipment. The estimated 2016 Plan costs are as follows: (in millions) Latin America Packaging Rest of World Packaging Total 2016 net expense accrued $ 20.5 $ 1.1 $ 21.6 2017 net expense accrued 8.0 0.2 8.2 2018 first quarter net expense accrued 0.9 (0.1 ) 0.8 2018 second quarter net expense accrued 0.5 (0.1 ) 0.4 Expense incurred to date 29.9 1.1 31.0 Estimated future expense 0.4 — 0.4 Estimated costs of program $ 30.3 $ 1.1 $ 31.4 An analysis of the 2016 Plan accruals follows: (in millions) Employee Costs Other Costs Total Restructuring Costs Reserve balance at December 31, 2017 $ 1.1 $ 4.4 $ 5.5 Net expense accrued (0.3 ) 1.5 1.2 Utilization (cash payments or otherwise settled) (0.6 ) (1.3 ) (1.9 ) Translation adjustments and other — (0.7 ) (0.7 ) Reserve balance at June 30, 2018 $ 0.2 $ 3.9 $ 4.1 Plant closings associated with the 2016 Plan are complete. Cash payments in 2017 and 2016 totaled $ 15.4 million and $ 8.3 million , respectively. Cash payments in the three and six months ended June 30, 2018 totaled $ 0.9 million and $ 2.0 million , respectively. Cash payments for the balance of 2018 are expected to be approximately $ 0.6 million . The costs related to restructuring activities have been recorded on the condensed consolidated statement of income as restructuring and other costs. The accruals related to restructuring activities have been recorded on the condensed consolidated balance sheet primarily as other current liabilities. 2017 Restructuring and Cost Savings Plan ("2017 Plan") On June 30, 2017, the Company announced restructuring activities targeted to improve efficiency and profitability that further positions the Company for long-term success. As a part of this plan, the Company announced the intention to close four production facilities for which business will be relocated to existing facilities and the closure of an additional manufacturing facility for which business will not be relocated. As of June 30, 2018, operations ceased at two of the manufacturing facilities and business has been relocated to existing facilities. In addition, the Company announced it will reduce administrative positions by approximately 500 over three years and consolidate certain administrative offices and take other actions to improve the cost efficiency of a variety of administrative and operational processes. The Company expects total 2017 Plan pre-tax restructuring costs of approximately $ 65 to $ 70 million , which includes $ 29 to $ 31 million in employee termination costs, $ 19 to $ 20 million in fixed asset related expenses, and $ 17 to $ 19 million in other restructuring project costs, including the movement and re-installation of equipment. Expenses in the three and six months ended June 30, 2018 were $ 9.1 million and $ 13.5 million , respectively, which consisted primarily of employee termination costs and fixed asset write-downs of equipment. The estimated 2017 Plan costs are as follows: (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Corporate Total 2017 net expense accrued $ 13.4 $ 20.7 $ 1.5 $ 3.5 $ 39.1 2018 first quarter net expense accrued 2.0 1.2 1.1 0.1 4.4 2018 second quarter net expense accrued 4.0 4.5 0.5 0.1 9.1 Expense incurred to date 19.4 26.4 3.1 3.7 52.6 Estimated future expense 12.9 5.6 0.1 0.3 18.9 Estimated costs of program $ 32.3 $ 32.0 $ 3.2 $ 4.0 $ 71.5 An analysis of the 2017 Plan accruals follows: (in millions) Employee Costs Fixed Asset Related Other Costs Total Restructuring Costs Reserve balance at December 31, 2017 $ 19.2 $ — $ 2.5 $ 21.7 Net expense accrued 3.6 7.6 2.3 13.5 Utilization (cash payments or otherwise settled) (7.8 ) (7.7 ) (0.8 ) (16.3 ) Translation adjustments and other (1.8 ) — (0.6 ) (2.4 ) Reserve balance at June 30, 2018 $ 13.2 $ (0.1 ) $ 3.4 $ 16.5 The 2017 Plan is expected to be completed by the end of 2019. Cash payments in the twelve months ended December 31, 2017 were $ 6.8 million . Cash payments in the three and six months ended June 30, 2018 were $ 5.8 million and $ 9.4 million , respectively. The costs related to restructuring activities have been recorded on the condensed consolidated statement of income as restructuring and other costs. The accruals related to restructuring activities have primarily been recorded on the condensed consolidated balance sheet as other current liabilities.

Financial Assets and Financial

Financial Assets and Financial Liabilities Measured at Fair Value	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Financial Assets and Financial Liabilities Measured at Fair Value	Financial Assets and Financial Liabilities Measured at Fair Value The fair values of the Company’s financial assets and financial liabilities listed below reflect the amounts that would be received to sell the assets or paid to transfer the liabilities in an orderly transaction between market participants at the measurement date (exit price). The Company’s non-derivative financial instruments include cash and cash equivalents, trade receivables, accounts payable, short-term borrowings, and long-term debt. At June 30, 2018 and December 31, 2017 , the carrying value of these financial instruments, excluding long-term debt, approximates fair value because of the short-term maturities of these instruments. Fair value disclosures are classified based on the fair value hierarchy. Level 1 fair value measurements represent exchange-traded securities which are valued at quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access as of the reporting date. Level 2 fair value measurements are determined using input prices that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Level 3 fair value measurements are determined using unobservable inputs, such as internally developed pricing models for the asset or liability due to little or no market activity for the asset or liability. The fair value measurements of the Company’s long-term debt represent non-active market exchange-traded securities which are valued at quoted prices or using input prices that are directly observable or indirectly observable through corroboration with observable market data. The carrying values and estimated fair values of long-term debt at June 30, 2018 and December 31, 2017 follow: June 30, 2018 December 31, 2017 (in millions) Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) Long-term debt, less current portion $ 1,501.7 $ 1,508.7 $ 1,542.4 $ 1,591.0 The fair values for derivatives are based on inputs other than quoted prices that are observable for the asset or liability. These inputs include interest rates. The financial assets and financial liabilities are primarily valued using standard calculations / models that use as their basis readily observable market parameters. Industry standard data providers are the primary source for forward and spot rate information for both interest rates and currency rates, with resulting valuations periodically validated through third-party or counterparty quotes. The fair value of the Company's derivatives follows: Fair Value As of Fair Value As of June 30, 2018 December 31, 2017 (in millions) (Level 2) (Level 2) Interest rate swaps — net asset (liability) position $ (8.4 ) $ (0.6 )

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company enters into derivative transactions to manage exposures arising in the normal course of business. The Company does not enter into derivative transactions for speculative or trading purposes. The Company recognizes all derivative instruments on the balance sheet at fair value. Derivatives not designated as hedging instruments are adjusted to fair value through income. Depending on the nature of derivatives designated as hedging instruments, changes in the fair value are either offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings or recognized in shareholders’ equity through other comprehensive income until the hedged item is recognized. Gains or losses, if any, related to the ineffective portion of any hedge are recognized through earnings in the current period. The Company enters into interest rate swap contracts to economically convert a portion of the Company’s fixed-rate debt to variable rate debt. During the fourth quarter of 2011, the Company entered into four interest rate swap agreements with a total notional amount of $ 400 million . These contracts were designated as fair value hedges of the Company’s $ 400 million 4.50 percent fixed-rate debt due in 2021. The variable rate for each of the interest rate swaps is based on the six-month London Interbank Offered Rate (LIBOR), set in arrears, plus a fixed spread. The variable rates are reset semi-annually at each net settlement date. Fair values of these interest rate swaps are determined using discounted cash flow or other appropriate methodologies. Asset positions are included in deferred charges and other assets with a corresponding increase in long-term debt. Liability positions are included in other liabilities and deferred credits with a corresponding decrease in long-term debt. The Company enters into forward exchange contracts to manage foreign currency exchange rate exposures associated with certain foreign currency denominated receivables and payables. Forward exchange contracts generally have maturities of less than six months and relate primarily to the U.S. dollar for the Company’s Brazilian operations. The Company has not designated these derivative instruments as hedging instruments. At June 30, 2018 and December 31, 2017 , the Company had outstanding forward exchange contracts with notional amounts of $ 3.6 million and $ 2.7 million , respectively. The net settlement amount (fair value) related to active forward exchange contracts is recorded on the balance sheet as either a current or long-term asset or liability and as an element of other operating income which offsets the related transaction gains or losses. The net settlement amounts are immaterial for all periods presented. The Company is exposed to credit loss in the event of non-performance by counterparties in forward exchange contracts and interest-rate swap contracts. Collateral is generally not required of the counterparties or of the Company. In the event a counterparty fails to meet the contractual terms of a currency swap or forward exchange contract, the Company’s risk is limited to the fair value of the instrument. The Company actively monitors its exposure to credit risk through the use of credit approvals and credit limits, and by selecting major international banks and financial institutions as counterparties. The Company has not had any historical instances of non-performance by any counterparties, nor does it anticipate any future instances of non-performance. The fair values, balance sheet presentation, and the hedge designation status of derivative instruments at June 30, 2018 and December 31, 2017 are presented in the table below: Fair Value (Level 2) As of (in millions) Balance Sheet Location June 30, 2018 December 31, 2017 Liability Derivatives Interest rate swaps — designated as hedge Other liabilities and deferred credits $ 8.4 $ 0.6 The income statement impact of derivatives is presented in the table below: Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended June 30, Six Months Ended June 30, (in millions) Location of Gain (Loss) Recognized in Income on Derivatives 2018 2017 2018 2017 Designated as hedges Interest rate swaps Interest expense $ (0.1 ) $ 1.0 $ (0.7 ) $ 1.9 Not designated as hedges Forward exchange contracts Other operating income 0.5 — 0.2 (0.3 ) Total $ 0.4 $ 1.0 $ (0.5 ) $ 1.6

Inventories

Inventories	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are valued at the lower of cost, as determined by the first-in, first-out ("FIFO") method, or net realizable value. Inventory values using the FIFO method of accounting approximate replacement cost. Inventories are summarized as follows: (in millions) June 30, December 31, Raw materials and supplies $ 187.5 $ 198.3 Work in process and finished goods 428.3 421.9 Total inventories $ 615.8 $ 620.2

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill attributable to each reportable business segment follow: (in millions) U.S. Packaging Segment Rest of World Packaging Total Reported balance at December 31, 2017 $ 633.1 $ 219.6 $ 852.7 Currency translation (0.5 ) (3.5 ) (4.0 ) Reported balance at June 30, 2018 $ 632.6 $ 216.1 $ 848.7 Accumulated goodwill impairment losses were $ 196.6 million as of June 30, 2018 and December 31, 2017 related to the Latin America Packaging segment. The components of other intangible assets follow: June 30, 2018 December 31, 2017 (in millions) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract based $ 9.6 $ (1.6 ) $ 9.9 $ (1.6 ) Technology based 79.4 (58.7 ) 79.7 (56.6 ) Marketing related 12.9 (8.9 ) 14.1 (9.3 ) Customer based 206.4 (108.5 ) 210.1 (104.0 ) Reported balance $ 308.3 $ (177.7 ) $ 313.8 $ (171.5 ) Amortization expense for intangible assets was $ 8.6 million and $ 8.4 million during the first six months of 2018 and 2017 , respectively. Estimated future amortization expense for intangible assets follows: (in millions) Amortization Remainder of 2018 $ 8.6 2019 17.0 2020 16.1 2021 13.8 2022 12.4 2023 12.0

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost	6 Months Ended
	Jun. 30, 2018
Retirement Benefits, Description [Abstract]
Components of Net Periodic Benefit Cost	Components of Net Periodic Benefit Cost Benefit costs for defined benefit pension and other postretirement plans are shown below. The funding policy and assumptions disclosed in the Company’s 2017 Annual Report on Form 10-K are expected to continue unchanged throughout 2018 . Three Months Ended June 30, Six Months Ended June 30, Pension Benefits Other Benefits Pension Benefits Other Benefits (in millions) 2018 2017 2018 2017 2018 2017 2018 2017 Service cost - benefits earned during the period $ 1.9 $ 1.9 $ — $ — $ 3.8 $ 3.7 $ — $ — Interest cost on projected benefit obligation 6.7 7.6 — 0.1 13.4 15.2 — 0.1 Expected return on plan assets (10.8 ) (12.1 ) — — (21.6 ) (24.2 ) — — Settlement loss — 0.3 — — — 0.3 — — Amortization: Prior service cost 0.3 0.2 (0.1 ) (0.2 ) 0.5 0.4 (0.1 ) (0.2 ) Actuarial net loss (gain) 4.1 3.5 (0.3 ) (0.2 ) 8.3 7.0 (0.6 ) (0.4 ) Net periodic benefit cost $ 2.2 $ 1.4 $ (0.4 ) $ (0.3 ) $ 4.4 $ 2.4 $ (0.7 ) $ (0.5 ) Service cost is recorded in cost of products sold and selling, general, and administrative expenses in the income statement. All other components are recorded within other non-operating income. Costs for defined contribution pension plans were $ 8.0 million and $ 15.1 million for the three and six months ended June 30, 2018 , respectively. Costs for defined contribution pension plans were $ 7.6 million and $ 15.5 million for the three and six months ended June 30, 2017 , respectively.

Income Taxes (Notes)

Income Taxes (Notes)	6 Months Ended
	Jun. 30, 2018
Income Taxes [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The lower effective income tax rate for the six months ended June 30, 2018 compared to the same period in 2017 is primarily due to the corporate tax rate reduction in the U.S. from enacted tax legislation commonly referred to as the Tax Cuts and Jobs Act ("TCJA"). The difference between the Company's overall tax rate and the U.S. statutory rate of 21 percent principally relates to state and local income taxes, net of federal income tax benefits, and the differences between tax rates in the various foreign jurisdictions in which the Company operates. In addition, the Company's first quarter results include a discrete income tax expense of approximately $ 0.4 million and an income tax benefit of approximately $ 0.9 million , in 2018 and 2017, respectively, related to employee share-based payment accounting. The TCJA was enacted in December 2017. ASC 740, Accounting for Income Taxes , requires companies to recognize the effects of tax law changes in the period of enactment. The TCJA makes broad and complex changes to the U.S. tax code including, but not limited to (1) reducing the U.S. federal corporate tax rate from 35 percent to 21 percent, (2) requiring a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries that may be paid over eight years, (3) accelerating expensing of certain capital expenditures, (4) eliminating or limiting certain deductions (interest, domestic production activities, and executive compensation), and (5) establishing global minimum income tax and base erosion tax provisions related to offshore activities and affiliated party payments. Due to the timing of the new tax law and the substantial changes it brings, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for the TCJA. The Company recognized the provisional tax impacts related to deemed repatriated earnings and the revaluation of deferred tax assets and liabilities in its consolidated financial statements for the year ended December 31, 2017. The Company has not changed these estimates during the six months ended June 30, 2018. The ultimate impact of the TCJA may differ from the provisional amounts, possibly materially, due to, among other things, additional analysis, changes in interpretations and assumptions the Company has made, additional regulatory guidance that may be issued, and actions the Company may take as a result of the TCJA. The accounting is expected to be completed within the one year measurement period allowed under SAB 118.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The components and activity of accumulated other comprehensive income (loss) are as follows: (in millions) Foreign Currency Translation Pension And Other Postretirement Liability Adjustments Accumulated Other Comprehensive Loss December 31, 2016 $ (330.7 ) $ (117.1 ) $ (447.8 ) Other comprehensive income (loss) before reclassifications 25.9 — 25.9 Amounts reclassified from accumulated other comprehensive income (loss) — 4.4 4.4 Net current period other comprehensive income (loss) 25.9 4.4 30.3 June 30, 2017 $ (304.8 ) $ (112.7 ) $ (417.5 ) December 31, 2017 $ (291.1 ) $ (103.4 ) $ (394.5 ) Other comprehensive income (loss) before reclassifications (80.2 ) — (80.2 ) Amounts reclassified from accumulated other comprehensive income (loss) — 6.1 6.1 Net current period other comprehensive income (loss) (80.2 ) 6.1 (74.1 ) June 30, 2018 $ (371.3 ) $ (97.3 ) $ (468.6 ) The following table summarizes amounts reclassified from accumulated other comprehensive income (loss): Three Months Ended June 30, Six Months Ended June 30, (in millions) 2018 2017 2018 2017 Pension and postretirement costs (See Note 10) $ 4.0 $ 3.6 $ 8.1 $ 7.1 Tax benefit (0.9 ) (1.3 ) (2.0 ) (2.7 ) Pension and postretirement costs, net of tax $ 3.1 $ 2.3 $ 6.1 $ 4.4 Accumulated other comprehensive income (loss) associated with pension and other postretirement liability adjustments are net of tax effects of $ 59.6 million and $ 61.6 million as of June 30, 2018 and December 31, 2017 , respectively.

Earnings Per Share Computations

Earnings Per Share Computations	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share Computations	Earnings Per Share Computations A reconciliation of basic and diluted earnings per share is below: Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share amounts) 2018 2017 2018 2017 Numerator Net income $ 46.7 $ 28.0 $ 94.3 $ 79.1 Denominator Weighted average common shares outstanding — basic 91.0 92.0 91.0 92.2 Dilutive shares 0.2 0.3 0.2 0.3 Weighted average common and common equivalent shares outstanding — diluted 91.2 92.3 91.2 92.5 Per common share income Basic $ 0.51 $ 0.31 $ 1.03 $ 0.86 Diluted $ 0.51 $ 0.30 $ 1.03 $ 0.85 Certain stock awards outstanding were not included in the computation of diluted earnings per share above because they would not have had a dilutive effect. The excluded stock awards represented an aggregate of 0.7 million shares for the three and six months ended June 30, 2018 . The excluded stock awards represented an aggregate of 0.6 million shares for the three and six months ended June 30, 2017 .

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings The Company is involved in a number of lawsuits incidental to its business, including environmental-related litigation and routine litigation arising in the ordinary course of business. Although it is difficult to predict the ultimate outcome of these cases, the Company believes, except as discussed below, that any ultimate liability would not have a material adverse effect on the Company’s consolidated financial condition or results of operations. Environmental Matters The Company, or one or more of its affiliates, has been identified as a potentially responsible party ("PRP") pursuant to the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (commonly known as "Superfund") and similar state and foreign laws at 12 sites in the United States and one in Brazil, with respect to which the Company's liability has not yet been finalized pursuant to a settlement agreement. In addition, the Company or one or more of its affiliates has been identified as a PRP in several other Superfund sites at which the cleanup of the site has been completed or the Company's liability with respect to the site has been resolved pursuant to a settlement (or both). These proceedings were instituted by the United States Environmental Protection Agency and certain state and foreign environmental agencies at various times beginning in 1983. Superfund and similar state and foreign laws create liability for investigation and remediation in response to releases of hazardous substances in the environment. Under these statutes, joint and several liability may be imposed on waste generators, site owners and operators, and others regardless of fault. Although these regulations could require the Company to remove or mitigate the effects on the environment at various sites, perform remediation work at such sites, or pay damages for loss of use and non-use values, the Company expects its liability in these proceedings to be limited to monetary damages. The Company expects its future liability relative to these sites to be insignificant, individually and in the aggregate. The Company is involved in other environmental-related litigation arising in the ordinary course of business. The Company accrues environmental costs when it is probable that these costs will be incurred and can be reasonably estimated. The Company's reserve for environmental liabilities at June 30, 2018 and December 31, 2017 was $ 0.9 million , and is included in other liabilities and deferred credits on the accompanying condensed consolidated balance sheet. Brazil Tax Dispute - Goodwill Amortization During October 2013, Dixie Toga, Ltda ("Dixie Toga"), a Bemis subsidiary, received an income tax assessment in Brazil for the tax years 2009 through 2011 that relates to the amortization of certain goodwill generated from the acquisition of Dixie Toga. The income tax assessed for those years is approximately $ 9.9 million , translated to U.S. dollars at the June 30, 2018 exchange rate. The Company expects that tax examinations for years after 2011 will include similar assessments as the Company continues to claim the tax benefits associated with the goodwill amortization. An ultimate adverse resolution on these assessments, including interest and penalties, could be material to the Company's consolidated results of operations and/or cash flows. The Company has been advised by its legal and tax advisors that its position with respect to the deductions is allowable under the tax laws of Brazil. The Company is contesting the disallowance and believes it is more likely than not the tax benefit will be sustained in its entirety and consequently has not recorded a liability. In May of 2017, the Company received a favorable administrative decision. The government is appealing this decision to the next administrative level. The Company intends to litigate the matter if it is not resolved at the administrative appeals levels. The ultimate outcome could take several years. At this time, the Company believes that final resolution of the assessment will not have a material impact on the Company's consolidated financial statements. Brazil Investigation On September 18, 2007, the Secretariat of Economic Law, a governmental agency in Brazil, which has now been replaced by the General Superintendence of the Administrative Council for Economic Defense ("CADE"), initiated an investigation into possible anti-competitive practices in the Brazilian flexible packaging industry against a number of Brazilian companies including Itap Bemis, a Dixie Toga subsidiary. The investigation relates to periods prior to the Company’s acquisition of control of Dixie Toga and its subsidiaries. In July 2018, after several years of review, CADE voted not to sanction the Company, which closed the case against the Company in a final administrative decision. Notwithstanding the CADE vote, one party has sought a request for clarification and there remains a possible claim for the Company’s joint liability which the Company disputes. The Company expects the possibility of any liability from this clarification process to be remote and, if the Company is exposed to liability, the amount to be immaterial. Therefore, the Company will no longer be providing separate reporting of this matter.

Segments of Business

Segments of Business	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segments of Business	Segments of Business The Company's business activities are organized around and aggregated into its three principal business segments, U.S. Packaging, Latin America Packaging, and Rest of World Packaging, based on their similar economic characteristics, products, production process, types of customers, and distribution methods. Both internal and external reporting conforms to this organizational structure, with no significant differences in accounting policies applied. Intersegment sales (which are not significant) are generally priced to reflect nominal markups. The Company evaluates the performance of its segments and allocates resources to them based primarily on operating profit, which is defined as profit before restructuring and other costs, general corporate expense, interest expense, other non-operating income, and income taxes. Sales to the Kraft Heinz Company, and its subsidiaries, accounted for approximately 11 and 10 percent of the Company's sales for the six months ended June 30, 2018 and 2017, respectively. The Company sells to Kraft Heinz primarily through its U.S. Packaging segment. A summary of the Company’s business activities reported by its three business segments follows: Three Months Ended June 30, Six Months Ended June 30, Business Segments (in millions) 2018 2017 2018 2017 Sales including intersegment sales: U.S. Packaging $ 694.2 $ 672.7 $ 1,370.3 $ 1,327.6 Latin America Packaging 159.3 172.1 329.8 350.9 Rest of World Packaging 194.1 183.6 390.2 355.2 Intersegment sales: U.S. Packaging (10.5 ) (11.2 ) (20.6 ) (17.2 ) Latin America Packaging (0.8 ) (1.2 ) (1.9 ) (2.0 ) Rest of World Packaging (3.0 ) (3.9 ) (7.1 ) (7.0 ) Total net sales $ 1,033.3 $ 1,012.1 $ 2,060.7 $ 2,007.5 Segment operating profit U.S. Packaging $ 89.9 $ 80.1 $ 177.1 $ 163.6 Latin America Packaging 9.0 2.9 17.0 16.5 Rest of World Packaging 18.7 14.8 35.2 28.4 Restructuring and other costs 21.0 23.8 34.4 28.2 General corporate expenses 17.9 18.3 35.7 36.2 Operating income 78.7 55.7 159.2 144.1 Interest expense 18.7 16.0 37.6 32.0 Other non-operating income (0.7 ) (1.4 ) (1.6 ) (3.3 ) Income before income taxes $ 60.7 $ 41.1 $ 123.2 $ 115.4 A summary of the Company’s net sales by geographic area reported by its three business segments follows: Three Months Ended June 30, 2018 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 683.7 $ — $ 62.3 $ 746.0 Brazil — 104.3 — 104.3 Other Americas — 54.2 — 54.2 Europe — — 81.2 81.2 Asia-Pacific — — 47.6 47.6 Total $ 683.7 $ 158.5 $ 191.1 $ 1,033.3 Six Months Ended June 30, 2018 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 1,349.7 $ — $ 121.6 $ 1,471.3 Brazil — 216.4 — 216.4 Other Americas — 111.5 — 111.5 Europe — — 166.6 166.6 Asia-Pacific — — 94.9 94.9 Total $ 1,349.7 $ 327.9 $ 383.1 $ 2,060.7 Three Months Ended June 30, 2017 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 661.5 $ — $ 58.2 $ 719.7 Brazil — 113.2 — 113.2 Other Americas — 57.7 — 57.7 Europe — — 72.3 72.3 Asia-Pacific — — 49.2 49.2 Total $ 661.5 $ 170.9 $ 179.7 $ 1,012.1 Six Months Ended June 30, 2017 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 1,310.4 $ — $ 112.8 $ 1,423.2 Brazil — 236.4 — 236.4 Other Americas — 112.5 — 112.5 Europe — — 141.5 141.5 Asia-Pacific — — 93.9 93.9 Total $ 1,310.4 $ 348.9 $ 348.2 $ 2,007.5 (1) Net sales are attributed to geographic areas based on location of the Company’s manufacturing or selling operation.

Significant Policies Update (No

Significant Policies Update (Notes)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	Significant Policies Update - Revenue Recognition The Company's significant accounting policies are detailed in Note 2 - Significant Accounting Policies of its Annual Report on Form 10-K for the year ended December 31, 2017. Significant changes to the accounting policies as a result of adopting the new revenue recognition guidance on January 1, 2018 are discussed below. The Company generates revenue by providing its customers with flexible and rigid plastic packaging serving a variety of markets including food, consumer products and healthcare end markets. The Company enters into a variety of agreements with customers, including quality agreements, pricing agreements and master supply agreements which outline the terms under which the Company does business with a specific customer. The Company also sells to some customers solely based on purchase orders. The Company has concluded for the vast majority of its revenues, that its contracts with customers are either a purchase order or the combination of a purchase order with a master supply agreement. All revenue recognized in the income statement is considered to be revenue from contracts with customers. The Company typically satisfies the obligation to provide packaging to customers at a point in time upon shipment when control is transferred to customers. Revenue is recognized net of allowances for returns and customer claims and any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company does not have contract assets or contract liabilities. The Company disaggregates revenue based on geography. Disaggregation of revenue is presented in Note 15 - Segments of Business. Significant Judgments Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. The Company identified potential performance obligations in its customer master supply agreements and determined that none of them are capable of being distinct as the customer can only benefit from the supplied packaging. Therefore, the Company has concluded that it has one performance obligation to supply packaging to customers. The Company may provide variable consideration in several forms which are determined through its agreements with customers. The Company can offer prompt payment discounts, sales rebates or other incentive payments to customers. Sales rebates and other incentive payments are typically awarded upon achievement of certain performance metrics, including volume. The Company accounts for variable consideration using the most likely amount method. The Company utilizes forecasted sales data and rebate percentages specific to each customer agreement and updates its judgment of the amounts to which the customer is entitled each period. The Company enters into long term agreements with certain customers, under which it is obligated to make various up-front payments for which it expects to receive a benefit in excess of the cost over the term of the contract. These up-front payments are deferred and reflected in prepaid expenses and other current assets or deferred charges and other assets on its consolidated balance sheet. Contract incentives are typically recognized as a reduction to revenue over the term of the customer agreement. Practical Expedients The Company sells primarily through its direct sales force. Any external sales commissions are expensed when incurred because the amortization period would be one year or less. External sales commission expense is included in selling, general and administrative expense on its consolidated statement of income. The Company accounts for shipping and handling activities as fulfillment costs. Accordingly, shipping and handling costs are classified as a component of cost of products sold while amounts billed to customers are classified as a component of net sales. The Company excluded from the measurement of the transaction price all taxes assessed by a government authority that are both imposed on and concurrent with a specific revenue producing transaction and collected from the customer, including sales taxes, value added taxes, excise taxes and use taxes. Accordingly, the tax amounts are not included in net sales.

New Accounting Guidance (Tables

New Accounting Guidance (Tables)	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Income Statement Reclassification [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	The income statement reclassifications are summarized as follows: Three Months Ended June 30, 2017 (in millions) As reported Reclassification As reclassified Income statement: Cost of products sold 826.2 (0.2 ) 826.0 Selling, general, and administrative expenses 97.6 1.0 98.6 Other non-operating income (0.6 ) (0.8 ) (1.4 ) Six Months Ended June 30, 2017 (in millions) As reported Reclassification As reclassified Income statement: Cost of products sold 1,623.7 (0.6 ) 1,623.1 Selling, general, and administrative expenses 192.2 2.4 194.6 Other non-operating income (1.5 ) (1.8 ) (3.3 )	The income statement reclassifications are summarized as follows: Three Months Ended June 30, 2017 (in millions) As reported Reclassification As reclassified Income statement: Cost of products sold 826.2 (0.2 ) 826.0 Selling, general, and administrative expenses 97.6 1.0 98.6 Other non-operating income (0.6 ) (0.8 ) (1.4 ) Six Months Ended June 30, 2017 (in millions) As reported Reclassification As reclassified Income statement: Cost of products sold 1,623.7 (0.6 ) 1,623.1 Selling, general, and administrative expenses 192.2 2.4 194.6 Other non-operating income (1.5 ) (1.8 ) (3.3 )

Restructuring and Other Costs25

Restructuring and Other Costs (Tables)	6 Months Ended
	Jun. 30, 2018
Restructuring and Other Costs [Abstract]
restructuring and other costs [Table Text Block]	Restructuring and other costs as reported on the condensed consolidated statement of income are summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2018 2017 2018 2017 Restructuring costs $ 9.5 $ 23.8 $ 14.8 $ 28.2 Restructuring related costs 11.5 — 19.6 — Total restructuring and other costs $ 21.0 $ 23.8 $ 34.4 $ 28.2

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2018
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Costs [Table Text Block]	The estimated 2017 Plan costs are as follows: (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Corporate Total 2017 net expense accrued $ 13.4 $ 20.7 $ 1.5 $ 3.5 $ 39.1 2018 first quarter net expense accrued 2.0 1.2 1.1 0.1 4.4 2018 second quarter net expense accrued 4.0 4.5 0.5 0.1 9.1 Expense incurred to date 19.4 26.4 3.1 3.7 52.6 Estimated future expense 12.9 5.6 0.1 0.3 18.9 Estimated costs of program $ 32.3 $ 32.0 $ 3.2 $ 4.0 $ 71.5 The estimated 2016 Plan costs are as follows: (in millions) Latin America Packaging Rest of World Packaging Total 2016 net expense accrued $ 20.5 $ 1.1 $ 21.6 2017 net expense accrued 8.0 0.2 8.2 2018 first quarter net expense accrued 0.9 (0.1 ) 0.8 2018 second quarter net expense accrued 0.5 (0.1 ) 0.4 Expense incurred to date 29.9 1.1 31.0 Estimated future expense 0.4 — 0.4 Estimated costs of program $ 30.3 $ 1.1 $ 31.4
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	An analysis of the 2016 Plan accruals follows: (in millions) Employee Costs Other Costs Total Restructuring Costs Reserve balance at December 31, 2017 $ 1.1 $ 4.4 $ 5.5 Net expense accrued (0.3 ) 1.5 1.2 Utilization (cash payments or otherwise settled) (0.6 ) (1.3 ) (1.9 ) Translation adjustments and other — (0.7 ) (0.7 ) Reserve balance at June 30, 2018 $ 0.2 $ 3.9 $ 4.1 An analysis of the 2017 Plan accruals follows: (in millions) Employee Costs Fixed Asset Related Other Costs Total Restructuring Costs Reserve balance at December 31, 2017 $ 19.2 $ — $ 2.5 $ 21.7 Net expense accrued 3.6 7.6 2.3 13.5 Utilization (cash payments or otherwise settled) (7.8 ) (7.7 ) (0.8 ) (16.3 ) Translation adjustments and other (1.8 ) — (0.6 ) (2.4 ) Reserve balance at June 30, 2018 $ 13.2 $ (0.1 ) $ 3.4 $ 16.5

Financial Assets and Financia27

Financial Assets and Financial Liabilities Measured at Fair Value (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Carrying values and estimated fair values of long-term debt, including current maturities	The carrying values and estimated fair values of long-term debt at June 30, 2018 and December 31, 2017 follow: June 30, 2018 December 31, 2017 (in millions) Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) Long-term debt, less current portion $ 1,501.7 $ 1,508.7 $ 1,542.4 $ 1,591.0
Fair values for derivatives	The fair value of the Company's derivatives follows: Fair Value As of Fair Value As of June 30, 2018 December 31, 2017 (in millions) (Level 2) (Level 2) Interest rate swaps — net asset (liability) position $ (8.4 ) $ (0.6 )

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair values for derivatives	The fair values, balance sheet presentation, and the hedge designation status of derivative instruments at June 30, 2018 and December 31, 2017 are presented in the table below: Fair Value (Level 2) As of (in millions) Balance Sheet Location June 30, 2018 December 31, 2017 Liability Derivatives Interest rate swaps — designated as hedge Other liabilities and deferred credits $ 8.4 $ 0.6
Income statement impact of derivative instruments not designated as hedging instruments	The income statement impact of derivatives is presented in the table below: Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended June 30, Six Months Ended June 30, (in millions) Location of Gain (Loss) Recognized in Income on Derivatives 2018 2017 2018 2017 Designated as hedges Interest rate swaps Interest expense $ (0.1 ) $ 1.0 $ (0.7 ) $ 1.9 Not designated as hedges Forward exchange contracts Other operating income 0.5 — 0.2 (0.3 ) Total $ 0.4 $ 1.0 $ (0.5 ) $ 1.6

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Summary of inventory	Inventories are summarized as follows: (in millions) June 30, December 31, Raw materials and supplies $ 187.5 $ 198.3 Work in process and finished goods 428.3 421.9 Total inventories $ 615.8 $ 620.2

Goodwill and Other Intangible30

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Estimated future amortization expense for intangible assets follows: (in millions) Amortization Remainder of 2018 $ 8.6 2019 17.0 2020 16.1 2021 13.8 2022 12.4 2023 12.0
Changes in the carrying amount of goodwill attributable to each reportable business segment	Changes in the carrying amount of goodwill attributable to each reportable business segment follow: (in millions) U.S. Packaging Segment Rest of World Packaging Total Reported balance at December 31, 2017 $ 633.1 $ 219.6 $ 852.7 Currency translation (0.5 ) (3.5 ) (4.0 ) Reported balance at June 30, 2018 $ 632.6 $ 216.1 $ 848.7
Components of amortized intangible assets	The components of other intangible assets follow: June 30, 2018 December 31, 2017 (in millions) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract based $ 9.6 $ (1.6 ) $ 9.9 $ (1.6 ) Technology based 79.4 (58.7 ) 79.7 (56.6 ) Marketing related 12.9 (8.9 ) 14.1 (9.3 ) Customer based 206.4 (108.5 ) 210.1 (104.0 ) Reported balance $ 308.3 $ (177.7 ) $ 313.8 $ (171.5 )

Components of Net Periodic Be31

Components of Net Periodic Benefit Cost (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits, Description [Abstract]
Components of net periodic benefit cost	Three Months Ended June 30, Six Months Ended June 30, Pension Benefits Other Benefits Pension Benefits Other Benefits (in millions) 2018 2017 2018 2017 2018 2017 2018 2017 Service cost - benefits earned during the period $ 1.9 $ 1.9 $ — $ — $ 3.8 $ 3.7 $ — $ — Interest cost on projected benefit obligation 6.7 7.6 — 0.1 13.4 15.2 — 0.1 Expected return on plan assets (10.8 ) (12.1 ) — — (21.6 ) (24.2 ) — — Settlement loss — 0.3 — — — 0.3 — — Amortization: Prior service cost 0.3 0.2 (0.1 ) (0.2 ) 0.5 0.4 (0.1 ) (0.2 ) Actuarial net loss (gain) 4.1 3.5 (0.3 ) (0.2 ) 8.3 7.0 (0.6 ) (0.4 ) Net periodic benefit cost $ 2.2 $ 1.4 $ (0.4 ) $ (0.3 ) $ 4.4 $ 2.4 $ (0.7 ) $ (0.5 )

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Components of accumulated other comprehensive income (loss)	The components and activity of accumulated other comprehensive income (loss) are as follows: (in millions) Foreign Currency Translation Pension And Other Postretirement Liability Adjustments Accumulated Other Comprehensive Loss December 31, 2016 $ (330.7 ) $ (117.1 ) $ (447.8 ) Other comprehensive income (loss) before reclassifications 25.9 — 25.9 Amounts reclassified from accumulated other comprehensive income (loss) — 4.4 4.4 Net current period other comprehensive income (loss) 25.9 4.4 30.3 June 30, 2017 $ (304.8 ) $ (112.7 ) $ (417.5 ) December 31, 2017 $ (291.1 ) $ (103.4 ) $ (394.5 ) Other comprehensive income (loss) before reclassifications (80.2 ) — (80.2 ) Amounts reclassified from accumulated other comprehensive income (loss) — 6.1 6.1 Net current period other comprehensive income (loss) (80.2 ) 6.1 (74.1 ) June 30, 2018 $ (371.3 ) $ (97.3 ) $ (468.6 )
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The following table summarizes amounts reclassified from accumulated other comprehensive income (loss): Three Months Ended June 30, Six Months Ended June 30, (in millions) 2018 2017 2018 2017 Pension and postretirement costs (See Note 10) $ 4.0 $ 3.6 $ 8.1 $ 7.1 Tax benefit (0.9 ) (1.3 ) (2.0 ) (2.7 ) Pension and postretirement costs, net of tax $ 3.1 $ 2.3 $ 6.1 $ 4.4

Earnings Per Share Computatio33

Earnings Per Share Computations (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Calculation of earnings per share	A reconciliation of basic and diluted earnings per share is below: Three Months Ended June 30, Six Months Ended June 30, (in millions, except per share amounts) 2018 2017 2018 2017 Numerator Net income $ 46.7 $ 28.0 $ 94.3 $ 79.1 Denominator Weighted average common shares outstanding — basic 91.0 92.0 91.0 92.2 Dilutive shares 0.2 0.3 0.2 0.3 Weighted average common and common equivalent shares outstanding — diluted 91.2 92.3 91.2 92.5 Per common share income Basic $ 0.51 $ 0.31 $ 1.03 $ 0.86 Diluted $ 0.51 $ 0.30 $ 1.03 $ 0.85

Segments of Business (Tables)

Segments of Business (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Summary of the entity's business activities reported by business segments	A summary of the Company’s business activities reported by its three business segments follows: Three Months Ended June 30, Six Months Ended June 30, Business Segments (in millions) 2018 2017 2018 2017 Sales including intersegment sales: U.S. Packaging $ 694.2 $ 672.7 $ 1,370.3 $ 1,327.6 Latin America Packaging 159.3 172.1 329.8 350.9 Rest of World Packaging 194.1 183.6 390.2 355.2 Intersegment sales: U.S. Packaging (10.5 ) (11.2 ) (20.6 ) (17.2 ) Latin America Packaging (0.8 ) (1.2 ) (1.9 ) (2.0 ) Rest of World Packaging (3.0 ) (3.9 ) (7.1 ) (7.0 ) Total net sales $ 1,033.3 $ 1,012.1 $ 2,060.7 $ 2,007.5 Segment operating profit U.S. Packaging $ 89.9 $ 80.1 $ 177.1 $ 163.6 Latin America Packaging 9.0 2.9 17.0 16.5 Rest of World Packaging 18.7 14.8 35.2 28.4 Restructuring and other costs 21.0 23.8 34.4 28.2 General corporate expenses 17.9 18.3 35.7 36.2 Operating income 78.7 55.7 159.2 144.1 Interest expense 18.7 16.0 37.6 32.0 Other non-operating income (0.7 ) (1.4 ) (1.6 ) (3.3 ) Income before income taxes $ 60.7 $ 41.1 $ 123.2 $ 115.4 A summary of the Company’s net sales by geographic area reported by its three business segments follows: Three Months Ended June 30, 2018 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 683.7 $ — $ 62.3 $ 746.0 Brazil — 104.3 — 104.3 Other Americas — 54.2 — 54.2 Europe — — 81.2 81.2 Asia-Pacific — — 47.6 47.6 Total $ 683.7 $ 158.5 $ 191.1 $ 1,033.3 Six Months Ended June 30, 2018 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 1,349.7 $ — $ 121.6 $ 1,471.3 Brazil — 216.4 — 216.4 Other Americas — 111.5 — 111.5 Europe — — 166.6 166.6 Asia-Pacific — — 94.9 94.9 Total $ 1,349.7 $ 327.9 $ 383.1 $ 2,060.7 Three Months Ended June 30, 2017 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 661.5 $ — $ 58.2 $ 719.7 Brazil — 113.2 — 113.2 Other Americas — 57.7 — 57.7 Europe — — 72.3 72.3 Asia-Pacific — — 49.2 49.2 Total $ 661.5 $ 170.9 $ 179.7 $ 1,012.1 Six Months Ended June 30, 2017 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 1,310.4 $ — $ 112.8 $ 1,423.2 Brazil — 236.4 — 236.4 Other Americas — 112.5 — 112.5 Europe — — 141.5 141.5 Asia-Pacific — — 93.9 93.9 Total $ 1,310.4 $ 348.9 $ 348.2 $ 2,007.5 (1) Net sales are attributed to geographic areas based on location of the Company’s manufacturing or selling operation.

New Accounting Guidance (Detail

New Accounting Guidance (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of products sold	$ 831.6	$ 826	$ 1,661	$ 1,623.1
Selling, general and administrative expenses	96.8	98.6	193.7	194.6
Other non-operating (income) expense, net	(0.7)	$ (1.4)	(1.6)	$ (3.3)
Adjustments for New Accounting Pronouncement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of products sold	(0.2)		(0.6)
Selling, general and administrative expenses	1		2.4
Other non-operating (income) expense, net	(0.8)		(1.8)
As reclassified [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of products sold	826		1,623.1
Selling, general and administrative expenses	98.6		194.6
Other non-operating (income) expense, net	(1.4)		(3.3)
As reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of products sold	826.2		1,623.7
Selling, general and administrative expenses	97.6		192.2
Other non-operating (income) expense, net	$ (0.6)		$ (1.5)

Restructuring and Other Costs36

Restructuring and Other Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
restructuring and other costs [Line Items]
Restructuring Costs	$ 9.5	$ 23.8	$ 14.8	$ 28.2
Other Restructuring Costs	11.5	0	19.6	0
Restructuring and other costs	$ 21	$ 23.8	$ 34.4	$ 28.2

Restructuring (Details)

Restructuring (Details) $ in Millions	3 Months Ended			6 Months Ended	12 Months Ended		13 Months Ended	26 Months Ended
	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Jun. 30, 2017	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2018USD ($)
2016 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost Number of Planned Closure Facilities				4
Restructuring and Related Cost Number of Facilities Closed				4
Restructuring Charges	$ 0.4	$ 0.8		$ 1.2	$ 8.2	$ 21.6		$ 31
Restructuring and Related Cost, Expected Cost Remaining	0.4			0.4			$ 0.4	0.4
Restructuring Reserve Settled				(1.9)
Restructuring Reserve, Translation and Other Adjustment				(0.7)
Restructuring Reserve	4.1			4.1	5.5		4.1	4.1
Payments for Restructuring	0.9			2	15.4	8.3
Restructuring and Related Cost, Expected Cost	31.4			31.4			31.4	31.4
Expected Cash Payments for Plant Closure				$ 0.6
2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost Number of Planned Closure Facilities			4
Restructuring and Related Cost, Expected Number of Positions Eliminated			500
Restructuring and Related Cost Number of Facilities Closed				2
Restructuring Charges	9.1	4.4		$ 13.5	39.1		52.6
Restructuring and Related Cost, Expected Cost Remaining	18.9			18.9			18.9	18.9
Restructuring Reserve Settled				(16.3)
Restructuring Reserve, Translation and Other Adjustment				(2.4)
Restructuring Reserve	16.5			16.5	21.7		16.5	16.5
Payments for Restructuring	5.8			9.4	6.8
Restructuring and Related Cost, Expected Cost	71.5			71.5			71.5	71.5
Employee Related Costs [Member] | 2016 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges				(0.3)
Restructuring Reserve Settled				(0.6)
Restructuring Reserve, Translation and Other Adjustment				0
Restructuring Reserve	0.2			0.2	1.1		0.2	0.2
Restructuring and Related Cost, Expected Cost	13			13			13	13
Employee Related Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges				3.6
Restructuring Reserve Settled				(7.8)
Restructuring Reserve, Translation and Other Adjustment				(1.8)
Restructuring Reserve	13.2			13.2	19.2		13.2	13.2
Fixed Asset Related Expenses [Member] | 2016 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	1			1			1	1
Fixed Asset Related Expenses [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges				7.6
Restructuring Reserve Settled				(7.7)
Restructuring Reserve, Translation and Other Adjustment				0
Restructuring Reserve	(0.1)			(0.1)	0		(0.1)	(0.1)
Other Costs [Member] | 2016 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges				1.5
Restructuring Reserve Settled				(1.3)
Restructuring Reserve, Translation and Other Adjustment				(0.7)
Restructuring Reserve	3.9			3.9	4.4		3.9	3.9
Restructuring and Related Cost, Expected Cost	17			17			17	17
Other Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges				2.3
Restructuring Reserve Settled				(0.8)
Restructuring Reserve, Translation and Other Adjustment				(0.6)
Restructuring Reserve	3.4			3.4	2.5		3.4	3.4
USPackaging [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	4	2			13.4		19.4
Restructuring and Related Cost, Expected Cost Remaining	12.9			12.9			12.9	12.9
Restructuring and Related Cost, Expected Cost	32.3			32.3			32.3	32.3
Latin America [Member] | 2016 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.5	0.9			8	20.5		29.9
Restructuring and Related Cost, Expected Cost Remaining	0.4			0.4			0.4	0.4
Restructuring and Related Cost, Expected Cost	30.3			30.3			30.3	30.3
Latin America [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	4.5	1.2			20.7		26.4
Restructuring and Related Cost, Expected Cost Remaining	5.6			5.6			5.6	5.6
Restructuring and Related Cost, Expected Cost	32			32			32	32
Rest of World [Member] | 2016 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	(0.1)	(0.1)			0.2	$ 1.1		1.1
Restructuring and Related Cost, Expected Cost Remaining	0			0			0	0
Restructuring and Related Cost, Expected Cost	1.1			1.1			1.1	1.1
Rest of World [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.5	1.1			1.5		3.1
Restructuring and Related Cost, Expected Cost Remaining	0.1			0.1			0.1	0.1
Restructuring and Related Cost, Expected Cost	3.2			3.2			3.2	3.2
Corporate Segment [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.1	$ 0.1			$ 3.5		3.7
Restructuring and Related Cost, Expected Cost Remaining	0.3			0.3			0.3	0.3
Restructuring and Related Cost, Expected Cost	4			4			4	4
Minimum [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	65			65			65	65
Minimum [Member] | Employee Related Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	29			29			29	29
Minimum [Member] | Fixed Asset Related Expenses [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	19			19			19	19
Minimum [Member] | Other Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	17			17			17	17
Maximum [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	70			70			70	70
Maximum [Member] | Employee Related Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	31			31			31	31
Maximum [Member] | Fixed Asset Related Expenses [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	20			20			20	20
Maximum [Member] | Other Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	$ 19			$ 19			$ 19	$ 19

Financial Assets and Financia38

Financial Assets and Financial Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Carrying Value
Carrying values and estimated fair values of long-term debt, including current maturities
Total long-term debt	$ 1,501.7	$ 1,542.4
Fair Value | (Level 2)
Carrying values and estimated fair values of long-term debt, including current maturities
Total long-term debt	$ 1,508.7	$ 1,591

Financial Assets and Financia39

Financial Assets and Financial Liabilities Measured at Fair Value (Details 2) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Measured on a recurring basis | (Level 2) | Interest-rate swap
Fair values for derivatives
Derivative Liability	$ (8.4)	$ (0.6)

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Derivative Instruments
Maximum Remaining Maturity of Foreign Currency Derivatives	6 months
Notes Payable 4.5 Percent Due 2021 [Member]
Derivative Instruments
Debt instrument, face amount	$ 400
Fixed-rate (as a percent)	4.50%
Derivatives not designated as hedging instruments | Forward exchange contracts
Derivative Instruments
Notional amounts of derivatives	$ 3.6	$ 2.7
Designated as Hedging Instrument [Member] | Interest-rate swap
Derivative Instruments
Notional amounts of derivatives	$ 400
Number of swap agreements	4
(Level 2) | Measured on a recurring basis | Interest-rate swap
Derivative Instruments
Derivative Liability	$ 8.4	$ 0.6

Derivative Instruments (Detai41

Derivative Instruments (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative Instruments, Gain (Loss)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ 0.4	$ 1	$ (0.5)	$ 1.6
Designated as Hedging Instrument [Member] | Interest-rate swap
Derivative Instruments, Gain (Loss)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	(0.1)	1	(0.7)	1.9
Derivatives not designated as hedging instruments | Forward exchange contracts
Derivative Instruments, Gain (Loss)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ 0.5	$ 0	$ 0.2	$ (0.3)

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Inventory valuation
Raw materials and supplies	$ 187.5	$ 198.3
Work in process and finished goods	428.3	421.9
Total inventories	$ 615.8	$ 620.2

Goodwill and Other Intangible43

Goodwill and Other Intangible Assets (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Changes in the carrying amount of goodwill
Reported balance at the beginning of the period	$ 852.7
Currency translation	(4)
Reported balance at the end of the period	848.7
USPackaging [Member]
Changes in the carrying amount of goodwill
Reported balance at the beginning of the period	633.1
Currency translation	(0.5)
Reported balance at the end of the period	632.6
Latin America [Member]
Goodwill
Goodwill and Intangible Asset Impairment	196.6
Rest of World [Member]
Changes in the carrying amount of goodwill
Reported balance at the beginning of the period	219.6
Currency translation	(3.5)
Reported balance at the end of the period	$ 216.1

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Components of amortized intangible assets
Gross Carrying Amount	$ 308.3		$ 313.8
Accumulated Amortization	(177.7)		(171.5)
Amortization expense for intangible assets	8.6	$ 8.4
Estimated amortization expense
Remainder of fiscal year	8.6
2,019	17
2,020	16.1
2,021	13.8
2,022	12.4
2,023	12
Contract based
Components of amortized intangible assets
Gross Carrying Amount	9.6		9.9
Accumulated Amortization	(1.6)		(1.6)
Technology based
Components of amortized intangible assets
Gross Carrying Amount	79.4		79.7
Accumulated Amortization	(58.7)		(56.6)
Marketing related
Components of amortized intangible assets
Gross Carrying Amount	12.9		14.1
Accumulated Amortization	(8.9)		(9.3)
Customer based
Components of amortized intangible assets
Gross Carrying Amount	206.4		210.1
Accumulated Amortization	$ (108.5)		$ (104)

Components of Net Periodic Be45

Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Pension Plan, Defined Benefit [Member]
Components of Net Periodic Benefit Cost
Service cost - benefits earned during the period	$ 1.9	$ 1.9	$ 3.8	$ 3.7
Interest cost on projected benefit obligation	6.7	7.6	13.4	15.2
Expected return on plan assets	(10.8)	(12.1)	(21.6)	(24.2)
Settlement loss	0	0.3	0	0.3
Amortization of prior service cost	0.3	0.2	0.5	0.4
Recognized actuarial net (gain) or loss	4.1	3.5	8.3	7
Net periodic benefit (income) cost	2.2	1.4	4.4	2.4
Other Postretirement Benefit Plan, Defined Benefit [Member]
Components of Net Periodic Benefit Cost
Service cost - benefits earned during the period	0	0	0	0
Interest cost on projected benefit obligation	0	0.1	0	0.1
Expected return on plan assets	0	0	0	0
Settlement loss	0	0	0	0
Amortization of prior service cost	(0.1)	(0.2)	(0.1)	(0.2)
Recognized actuarial net (gain) or loss	(0.3)	(0.2)	(0.6)	(0.4)
Net periodic benefit (income) cost	(0.4)	(0.3)	(0.7)	(0.5)
Bemis Investment Profit Sharing Plan and Other Defined Contribution Plans [Member]
Components of Net Periodic Benefit Cost
Defined contribution benefits plans	$ 8	$ 7.6	$ 15.1	$ 15.5

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Taxes [Abstract]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount	$ 0.4	$ (0.9)

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016
Accumulated other comprehensive loss, net of tax
Foreign currency translation	$ (371.3)	$ (304.8)	$ (371.3)	$ (304.8)	$ (291.1)	$ (330.7)
Pension and other postretirement liability adjustment, net of deferred tax effect	(97.3)	(112.7)	(97.3)	(112.7)	(103.4)	(117.1)
Accumulated other comprehensive loss	(468.6)	(417.5)	(468.6)	(417.5)	(394.5)	$ (447.8)
Tax effect of pension liability adjustment	59.6		59.6		$ 61.6
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax	4	3.6	8.1	7.1
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax	(0.9)	(1.3)	(2)	(2.7)
Other comprehensive income, before reclassification, foreign currency translation			(80.2)	25.9
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax			0	0
Other comprehensive income, reclassification adjustment, foreign currency translation			0	0
Other comprehensive income, reclassification, pension	3.1	2.3	6.1	4.4
Translation adjustments	(95.8)	(4)	(80.2)	25.9
Pension and other postretirement liability adjustments, net of tax	3.1	2.3	6.1	4.4
Other comprehensive income (loss)	$ (92.7)	$ (1.7)	(74.1)	30.3
Before reclassification [Member]
Accumulated other comprehensive loss, net of tax
Other comprehensive income (loss)			(80.2)	25.9
Reclassified [Member]
Accumulated other comprehensive loss, net of tax
Other comprehensive income (loss)			$ 6.1	$ 4.4

Earnings Per Share Computatio48

Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Numerator
Net income	$ 46.7	$ 28	$ 94.3	$ 79.1
Denominator
Basic weighted-average common shares outstanding	91	92	91	92.2
Dilutive shares	0.2	0.3	0.2	0.3
Weighted-average common and common equivalent shares outstanding - diluted	91.2	92.3	91.2	92.5
Per common share income
Net income, per basic share	$ 0.51	$ 0.31	$ 1.03	$ 0.86
Net income, per diluted share	$ 0.51	$ 0.30	$ 1.03	$ 0.85
Antidilutive stock options and stock awards	0.7	0.6	0.7	0.6

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Number of sites for state law proceedings under environmental matters	12
Number of Sites for Proceedings under Environmental Matters in Brazil	1
Accrual for Environmental Loss Contingencies	$ 0.9	$ 0.9
TaxAssessmentForGoodwillAmortization	$ 9.9

Segments of Business (Details)

Segments of Business (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)
Segment Reporting [Abstract]
Reporting Segments Number			3
Segment reporting information
Revenue	$ 1,033.3	$ 1,012.1	$ 2,060.7	$ 2,007.5
Operating Profit and Pretax Profit:
Operating Income (Loss)	78.7	55.7	159.2	144.1
Interest expense	18.7	16	37.6	32
Other non-operating (income) expense, net	(0.7)	(1.4)	(1.6)	(3.3)
Income from continuing operations before income taxes	60.7	41.1	$ 123.2	$ 115.4
Segment Reporting, Disclosure of Major Customers			0.11	0.10
USPackaging [Member]
Segment reporting information
Revenue	683.7	661.5	$ 1,349.7	$ 1,310.4
Operating Profit and Pretax Profit:
Operating Income (Loss)	89.9	80.1	177.1	163.6
Latin America [Member]
Segment reporting information
Revenue	158.5	170.9	327.9	348.9
Operating Profit and Pretax Profit:
Operating Income (Loss)	9	2.9	17	16.5
Rest of World [Member]
Segment reporting information
Revenue	191.1	179.7	383.1	348.2
Operating Profit and Pretax Profit:
Operating Income (Loss)	18.7	14.8	35.2	28.4
Restructuring and acquisition-related costs [Member]
Operating Profit and Pretax Profit:
Operating Income (Loss)	21	23.8	34.4	28.2
GeneralCorporateExpenses [Member]
Operating Profit and Pretax Profit:
Operating Income (Loss)	17.9	18.3	35.7	36.2
Operating Segments [Member] | USPackaging [Member]
Segment reporting information
Revenue	694.2	672.7	1,370.3	1,327.6
Operating Segments [Member] | Latin America [Member]
Segment reporting information
Revenue	159.3	172.1	329.8	350.9
Operating Segments [Member] | Rest of World [Member]
Segment reporting information
Revenue	194.1	183.6	390.2	355.2
Intersegment Eliminations [Member] | USPackaging [Member]
Segment reporting information
Revenue	(10.5)	(11.2)	(20.6)	(17.2)
Intersegment Eliminations [Member] | Latin America [Member]
Segment reporting information
Revenue	(0.8)	(1.2)	(1.9)	(2)
Intersegment Eliminations [Member] | Rest of World [Member]
Segment reporting information
Revenue	(3)	(3.9)	(7.1)	(7)
UNITED STATES
Segment reporting information
Revenue	746	719.7	1,471.3	1,423.2
UNITED STATES | USPackaging [Member]
Segment reporting information
Revenue	683.7	661.5	1,349.7	1,310.4
UNITED STATES | Latin America [Member]
Segment reporting information
Revenue	0	0	0	0
UNITED STATES | Rest of World [Member]
Segment reporting information
Revenue	62.3	58.2	121.6	112.8
BRAZIL
Segment reporting information
Revenue	104.3	113.2	216.4	236.4
BRAZIL | USPackaging [Member]
Segment reporting information
Revenue	0	0	0	0
BRAZIL | Latin America [Member]
Segment reporting information
Revenue	104.3	113.2	216.4	236.4
BRAZIL | Rest of World [Member]
Segment reporting information
Revenue	0	0	0	0
Other Americas [Member]
Segment reporting information
Revenue	54.2	57.7	111.5	112.5
Other Americas [Member] | USPackaging [Member]
Segment reporting information
Revenue	0	0	0	0
Other Americas [Member] | Latin America [Member]
Segment reporting information
Revenue	54.2	57.7	111.5	112.5
Other Americas [Member] | Rest of World [Member]
Segment reporting information
Revenue	0	0	0	0
Europe [Member]
Segment reporting information
Revenue	81.2	72.3	166.6	141.5
Europe [Member] | USPackaging [Member]
Segment reporting information
Revenue	0	0	0	0
Europe [Member] | Latin America [Member]
Segment reporting information
Revenue	0	0	0	0
Europe [Member] | Rest of World [Member]
Segment reporting information
Revenue	81.2	72.3	166.6	141.5
Asia Pacific [Member]
Segment reporting information
Revenue	47.6	49.2	94.9	93.9
Asia Pacific [Member] | USPackaging [Member]
Segment reporting information
Revenue	0	0	0	0
Asia Pacific [Member] | Latin America [Member]
Segment reporting information
Revenue	0	0	0	0
Asia Pacific [Member] | Rest of World [Member]
Segment reporting information
Revenue	$ 47.6	$ 49.2	$ 94.9	$ 93.9