Bemis 10-Q 26 Apr 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 24, 2019
Document Information [Line Items]
Entity Registrant Name	BEMIS CO INC
Entity Central Index Key	0000011199
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
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		91,211,989
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Small Business	false
Entity Emerging Growth Company	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 1,001.4	$ 1,027.4
Cost of Goods and Services Sold	799.2	829.4
Gross profit	202.2	198
Operating expenses:
Selling, general and administrative expenses	97.1	96.9
Research and development	9.7	10
Restructuring and other costs	6.9	13.4
Other Operating Income (Expense), Net	(8.6)	(2.8)
Operating income	97.1	80.5
Interest expense	18.5	18.9
Other non-operating (income) expense, net	(1.8)	(0.9)
Income from continuing operations before income taxes	80.4	62.5
Provision for income taxes	20	14.9
Net income	$ 60.4	$ 47.6
Net income, per basic share	$ 0.66	$ 0.52
Net income, per diluted share	0.66	0.52
Cash dividends paid per share (in dollars per share)	$ 0.32	$ 0.31

CONDENSED STATEMENT OF COMPREHE

CONDENSED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 60.4	$ 47.6
Translation adjustments	2	15.6
Pension and other postretirement liability adjustments, net of tax	1.9	3
Other comprehensive income (loss)	3.9	18.6
Total comprehensive income (loss)	64.3	66.2
Tax amounts related to pension and postretirement liability adjustments	$ 0.7	$ 1.1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 57.7	$ 76.1
Trade receivables	482.1	443.3
Inventories	640.1	619.5
Prepaid expenses and other current assets	100.3	95.7
Total current assets	1,280.2	1,234.6
Property and equipment, net	1,239.1	1,250.3
Operating Lease, Right-of-Use Asset	51.1
Goodwill	845.2	845.2
Other intangible assets, net	117.4	121.4
Deferred charges and other assets	114.8	119.5
Total other long-term assets	1,128.5	1,086.1
TOTAL ASSETS	3,647.8	3,571
LIABILITIES
Current portion of long-term debt	1.7	1.8
Short-term borrowings	12.7	10.2
Accounts payable	465.7	515.9
Employee-related liabilities	87.6	94.3
Accrued income and other taxes	49.6	33.3
Other current liabilities	44.6	46.1
Total current liabilities	661.9	701.6
Long-term debt, less current portion	1,395	1,348.6
Deferred taxes	169.5	166.7
Operating Lease, Liability, Noncurrent	45.2
Other liabilities and deferred credits	128	138.2
Total Liabilities	2,399.6	2,355.1
Bemis Company, Inc. shareholders' equity:
Common stock issued	13	12.9
Capital in excess of par value	601.4	604.2
Retained earnings	2,487.8	2,456.7
Accumulated other comprehensive loss	(521.6)	(525.5)
Common stock held in treasury	(1,332.4)	(1,332.4)
Total Equity	1,248.2	1,215.9
TOTAL LIABILITIES AND EQUITY	$ 3,647.8	$ 3,571

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - shares shares in Millions	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, shares issued	129.5	129.3
Common stock held in treasury, shares	38.3	38.3

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net income	$ 60.4	$ 47.6
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	41.2	43.2
Share-based compensation	3.7	4.8
Deferred income taxes	1.7	0.7
Income of unconsolidated affiliated company	(0.6)	(0.8)
(Gain) loss on sale or write-off of property and equipment	0.3	0.1
Changes in working capital, excluding effect of acquisitions, divestitures and currency	(102.1)	(40.8)
Changes in other assets and liabilities	(3.1)	(0.5)
Net Cash Provided by (Used in) Operating Activities	1.5	54.3
Cash flows from investing activities
Additions to property and equipment	(28.6)	(46.2)
Proceeds from sale of property and equipment	0.2	0.1
Net Cash Provided by (Used in) Investing Activities	(28.4)	(46.1)
Cash flows from financing activities
Repayment of long-term debt	(0.4)	(0.3)
Net (repayment) borrowing of commercial paper	43.2	9.3
Net (repayment) borrowing of short-term debt	2.4	3.3
Cash dividends paid to shareholders	(30.3)	(29.2)
Stock incentive programs and related tax withholdings	(6.5)	(5.6)
Net Cash Provided by (Used in) Financing Activities	8.4	(22.5)
Effect of Exchange Rate on Cash and Cash Equivalents	0.1	2.9
Cash and Cash Equivalents, Period Increase (Decrease)	(18.4)	(11.4)
Cash and cash equivalents balance at beginning of year	76.1	71.1
Cash and cash equivalents balance at end of period	$ 57.7	$ 59.7

CONDENSED CONSOLIDATED STATEM_3

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, 2017	$ 1,201.2	$ 12.9	$ 590.4	$ 2,324.8	$ (394.5)	$ (1,332.4)
Increase (Decrease) in Shareholders' Equity
Net income	47.6			47.6
Other comprehensive income (loss)	18.6				18.6
Cash dividends declared on common stock	(28.4)			(28.4)
Stock incentive programs and related tax withholdings	(5.6)	0	(5.6)
Share-based compensation	4.8		4.8
Balance at Mar. 31, 2018	1,238.2	12.9	589.6	2,344	(375.9)	(1,332.4)
Balance at Dec. 31, 2018	1,215.9	12.9	604.2	2,456.7	(525.5)	(1,332.4)
Increase (Decrease) in Shareholders' Equity
Net income	60.4			60.4
Other comprehensive income (loss)	3.9				3.9
Cash dividends declared on common stock	(29.3)			(29.3)
Stock incentive programs and related tax withholdings	(6.4)	0.1	(6.5)
Share-based compensation	3.7		3.7
Balance at Mar. 31, 2019	$ 1,248.2	$ 13	$ 601.4	$ 2,487.8	$ (521.6)	$ (1,332.4)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Stock incentive programs and related tax withholdings, shares	200,000	200,000
Purchase of common stock, shares	0	0
Cash dividends paid per share (in dollars per share)	$ 0.32	$ 0.31

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
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, 2018 . Definitive Transaction Agreement with Amcor On August 6, 2018, the Company announced that its Board of Directors, along with the Board of Directors of Amcor Limited (“Amcor”), unanimously approved a definitive agreement (the "Agreement”) under which Bemis will combine with Amcor in an all-stock combination (the “Transaction”). The Transaction will be effected at a fixed exchange ratio of 5.1 Amcor shares for each share of the Company, resulting in Amcor and Bemis shareholders owning approximately 71% and 29 % of the combined company, respectively. Closing of the Transaction is conditional upon the receipt of regulatory approvals, approval by both Amcor and Bemis shareholders, and satisfaction of other customary conditions. The Agreement contains certain termination rights for both Bemis and Amcor, including if the Transaction is not completed on or before August 6, 2019, subject in certain circumstances to extension to February 6, 2020 if necessary to secure certain regulatory approvals. The Agreement provides that Bemis will pay a $ 130 million termination fee to Amcor if, among other things, Bemis terminates the Agreement to enter into a superior proposal or if the Agreement is terminated following Bemis’s Board of Directors changing its recommendation or failing to publicly affirm the board recommendation after receipt of a competing proposal. The Agreement also provides that Amcor will pay a $ 130 million termination fee to Bemis under similar circumstances. In the first quarter of 2019, in connection with the Transaction, the Company incurred pre-tax expenses of approximately $ 2.9 million related to professional fees which are recorded in Restructuring and other costs in the condensed consolidated statement of income.

New Accounting Guidance

New Accounting Guidance	3 Months Ended
	Mar. 31, 2019
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 February 2016, the Financial Accounting Standards Board ("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. The Company adopted the new lease standard at January 1, 2019 using a simplified transition option that allows for a cumulative-effect adjustment in the period of adoption and therefore did not restate prior periods. The Company also elected to adopt the package of practical expedients which allows for existing operating leases to continue to be classified as operating leases under the new guidance without reassessing whether the contracts contain a lease under the new guidance or whether classification of the operating lease would be different under the new standard. The Company did not elect the use-of-hindsight practical expedient but did adopt the practical expedient pertaining to land easements which provides the option not to reassess whether land easements not previously accounted for as leases under prior leasing guidance would be leases under the new guidance. All of our leases at the adoption date were operating leases. As a result of the adoption of the new standard, the Company recognized operating lease liabilities of $ 51.2 million based on the present value of the remaining minimum rental payments and corresponding right-of-use assets of $ 51.1 million. Adoption of the new guidance did not impact retained earnings. Due to the adoption of the guidance using the retrospective cumulative-effect adjustment method, there are no changes to the Company's previously reported results prior to January 1, 2019. Lease expense is not expected to change materially as a result of adoption of the new guidance. The Company changed its disclosures related to leasing beginning in 2019, refer to Note 10. 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 was adopted by the Company in the first quarter of 2019 and adoption did not have a material impact on our consolidated financial statements. 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 Company elected to early adopt this guidance during the fourth quarter of fiscal 2018. The Company had $20.2 million of net stranded income tax effects out of accumulated other comprehensive income and into retained earnings with no impact to total shareholders' equity or net income. Recently Issued Accounting Standards The Company considers the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the FASB. The Company determined that all ASUs not yet adopted to be either not applicable or are expected to have minimal impact on the Company's consolidated financial statements.

Restructuring and Other Costs

Restructuring and Other Costs	3 Months Ended
	Mar. 31, 2019
Restructuring and Other Costs [Abstract]
Restructuring and Other Costs [Text Block]	Note 3 - Restructuring and Other Costs Restructuring and other costs as reported on the condensed consolidated statement of income are summarized as follows: Three Months Ended March 31, (in millions) 2019 2018 Restructuring costs $ 1.3 $ 5.3 Restructuring related costs 2.7 8.1 Other charges 2.9 — Total restructuring and other costs $ 6.9 $ 13.4 In 2019, restructuring costs represent the 2017 Restructuring Plan focused on aligning the Company's cost structure to its environment. In 2018, restructuring costs include costs related to the 2016 Restructuring Plan focused on plant closures in Latin America and the 2017 Plan. The 2016 Plan was completed in the fourth quarter of 2018. Refer to Note 4 — Restructuring Plans for details on the 2017 Plan 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. Other charges in the first quarter of 2019 consist primarily of professional fees associated with the Company's announced transaction with Amcor.

Restructuring Plans

Restructuring Plans	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring Plans 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 September 30, 2018, operations ceased at three of the four manufacturing facilities and business has been relocated to existing facilities; the additional manufacturing facility for which business was not relocated was also closed. Also as part of this plan, 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, $ 22 to $ 24 million in fixed asset related expenses, and $ 14 to $ 15 million in other restructuring project costs, including the movement and re-installation of equipment. Expenses in the three months ended March 31, 2019 were $ 1.3 million . 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 net expense accrued 9.6 7.3 1.9 0.5 19.3 2019 first quarter net expense accrued 0.3 0.7 0.2 0.1 1.3 Expense incurred to date 23.3 28.7 3.6 4.1 59.7 Estimated future expense 6.4 3.6 0.2 — 10.2 Estimated costs of program $ 29.7 $ 32.3 $ 3.8 $ 4.1 $ 69.9 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, 2018 $ 6.9 $ — $ 4.0 $ 10.9 Net expense accrued 0.2 0.1 1.0 1.3 Utilization (cash payments or otherwise settled) (1.3 ) (0.1 ) (0.9 ) (2.3 ) Translation adjustments and other — — — — Reserve balance at March 31, 2019 $ 5.8 $ — $ 4.1 $ 9.9 The 2017 Plan is expected to be completed by the end of 2020. Cash payments in the twelve months ended December 31, 2018 and 2017 were $ 17.4 million and $ 6.8 million , respectively. Cash payments in the three months ended March 31, 2019 were $ 2.3 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 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	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 , 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 March 31, 2019 and December 31, 2018 follow: March 31, 2019 December 31, 2018 (in millions) Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) Long-term debt, less current portion $ 1,395.0 $ 1,406.0 $ 1,348.6 $ 1,342.0 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 March 31, 2019 December 31, 2018 (in millions) (Level 2) (Level 2) Interest rate swaps — net asset (liability) position $ 0.6 $ (2.7 )

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 , the Company had outstanding forward exchange contracts with notional amounts of $ 3.9 million and $ 0.3 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 March 31, 2019 and December 31, 2018 are presented in the table below: Fair Value (Level 2) As of (in millions) Balance Sheet Location March 31, 2019 December 31, 2018 Asset Derivatives Interest rate swaps — designated as hedge Deferred charges and other assets $ 0.6 Liability Derivatives Interest rate swaps — designated as hedge Other liabilities and deferred credits $ 2.7 The income statement impact of derivatives is presented in the table below: Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended March 31, (in millions) Location of Gain (Loss) Recognized in Income on Derivatives 2019 2018 Designated as hedges Interest rate swaps Interest expense $ (0.1 ) $ (0.6 ) Not designated as hedges Forward exchange contracts Other operating income 0.1 (0.3 ) Total $ — $ (0.9 )

Inventories

Inventories	3 Months Ended
	Mar. 31, 2019
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) March 31, December 31, Raw materials and supplies $ 203.9 $ 197.4 Work in process and finished goods 436.2 422.1 Total inventories $ 640.1 $ 619.5

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2019
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, 2018 $ 632.3 $ 212.9 $ 845.2 Currency translation 0.2 (0.2 ) — Reported balance at March 31, 2019 $ 632.5 $ 212.7 $ 845.2 Accumulated goodwill impairment losses were $ 196.6 million as of March 31, 2019 and December 31, 2018 related to the Latin America Packaging segment. The components of other intangible assets follow: March 31, 2019 December 31, 2018 (in millions) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract based $ 9.4 $ (1.7 ) $ 9.1 $ (1.5 ) Technology based 79.4 (62.0 ) 79.3 (60.9 ) Marketing related 12.9 (9.2 ) 12.9 (9.1 ) Customer based 205.1 (116.5 ) 205.3 (113.7 ) Reported balance $ 306.8 $ (189.4 ) $ 306.6 $ (185.2 ) Amortization expense for intangible assets was $ 4.1 million and $ 4.2 million during the first three months of 2019 and 2018 , respectively. Estimated future amortization expense for intangible assets follows: (in millions) Amortization Remainder of 2019 $ 12.3 2020 15.7 2021 13.9 2022 12.3 2023 11.7 2024 9.8

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost	3 Months Ended
	Mar. 31, 2019
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 2018 Annual Report on Form 10-K are expected to continue unchanged throughout 2019 . Three Months Ended March 31, Pension Benefits Other Benefits (in millions) 2019 2018 2019 2018 Service cost - benefits earned during the period $ 2.3 $ 1.9 $ — $ — Interest cost on projected benefit obligation 7.0 6.7 — — Expected return on plan assets (10.6 ) (10.8 ) — — Amortization: Prior service cost 0.3 0.2 — — Actuarial net loss (gain) 2.6 4.2 (0.3 ) (0.3 ) Net periodic benefit cost $ 1.6 $ 2.2 $ (0.3 ) $ (0.3 ) 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 $ 6.6 million and $ 7.1 million for the three months ended March 31, 2019 and 2018, respectively.

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Leases The Company has operating leases for certain manufacturing sites, office space, warehouses, land, vehicles and equipment. Most leases include the option to renew, with renewal terms that can extend the lease term from one to five years or more. Right-of-use lease assets and lease liabilities are recognized at the commencement date based on the present value of the remaining lease payments over the lease term which includes renewal periods the Company is reasonably certain to exercise. The Company has elected to combine lease and non-lease components for all asset classes other than real estate, vehicles and equipment. Short term leases with a term of twelve months or less, including reasonably certain holding periods, are not recorded on the balance sheet. The Company's leases do not contain any material residual value guarantees or material restrictive covenants. At March 31, 2019, the Company does not have material lease commitments that have not commenced. The components of lease expense were as follows: (in millions) Three Months Ended March 31, Income Statement Location 2019 Operating leases Cost of products sold $ 1.3 Selling, general and administrative expenses 0.9 Total operating lease cost (1) $ 2.2 (1) Includes short-term leases and variable lease costs, which are immaterial. Supplemental balance sheet information related to leases was as follows: (in millions) Balance Sheet Location March 31, 2019 Assets Operating lease assets Operating lease assets $ 51.1 Total operating lease assets 51.1 Liabilities Current operating lease liabilities Other current liabilities 6.0 Noncurrent operating lease liabilities Operating lease liabilities 45.2 Total operating lease liabilities $ 51.2 As the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate as of the commencement date to determine the present value of lease payments. Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, (in millions) 2019 Operating leases Cash paid for amounts included in the measurement of lease liabilities $ 2.1 Right-of-use assets obtained in exchange for lease obligations $ 0.2 Maturities of lease liabilities were as follows: (in millions) Operating Leases Remainder of 2019 $ 6.2 2020 7.5 2021 6.7 2022 5.6 2023 5.0 After 2023 36.1 Total lease payments 67.1 Less: imputed interest 15.9 Present value of lease liabilities $ 51.2 The Company’s future minimum lease commitments as of December 31, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows: (in millions) Operating Leases 2019 $ 7.7 2020 6.7 2021 6.0 2022 5.6 2023 4.7 Thereafter 30.6 Total minimum obligations $ 61.3 The weighted average remaining lease term and discount rate are as follows: March 31, 2019 Weighted Average Remaining Lease Term Operating Leases 11.1 years Weighted Average Discount Rate Operating Leases 5.1 %

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Taxes [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The primary difference in the effective income tax rate between the first quarter of 2019 and 2018 results from changes in the geographic mix of income. The difference between our 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 we operate. In addition, the Company's first quarter results include a discrete income tax expense of approximately $ 0.2 million and an income tax benefit of approximately $ 0.4 million , in 2019 and 2018, respectively, related to employee share-based payment accounting. The U.S. corporate statutory tax rate was reduced to 21 percent as the result of tax legislation enacted in December 2017 commonly referred to as the Tax Cuts and Jobs Act ("TCJA"). The Company recorded the final adjustments to the provisional impact of the TCJA in the fourth quarter of 2018.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2019
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, 2017 $ (291.1 ) $ (103.4 ) $ (394.5 ) Other comprehensive income (loss) before reclassifications 15.6 — 15.6 Amounts reclassified from accumulated other comprehensive income (loss) — 3.0 3.0 Net current period other comprehensive income (loss) 15.6 3.0 18.6 March 31, 2018 $ (275.5 ) $ (100.4 ) $ (375.9 ) December 31, 2018 $ (385.4 ) $ (140.1 ) $ (525.5 ) Other comprehensive income (loss) before reclassifications 2.0 — 2.0 Amounts reclassified from accumulated other comprehensive income (loss) — 1.9 1.9 Net current period other comprehensive income (loss) 2.0 1.9 3.9 March 31, 2019 $ (383.4 ) $ (138.2 ) $ (521.6 ) The following table summarizes amounts reclassified from accumulated other comprehensive income (loss): Three Months Ended March 31, (in millions) 2019 2018 Pension and postretirement costs (See Note 9) $ 2.6 $ 4.1 Tax benefit (0.7 ) (1.1 ) Pension and postretirement costs, net of tax $ 1.9 $ 3.0 Accumulated other comprehensive income (loss) associated with pension and other postretirement liability adjustments are net of tax effects of $ 46.7 million and $ 47.3 million as of March 31, 2019 and December 31, 2018 , respectively.

Earnings Per Share Computations

Earnings Per Share Computations	3 Months Ended
	Mar. 31, 2019
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 March 31, (in millions, except per share amounts) 2019 2018 Numerator Net income $ 60.4 $ 47.6 Denominator Weighted average common shares outstanding — basic 91.2 91.0 Dilutive shares 0.8 0.2 Weighted average common and common equivalent shares outstanding — diluted 92.0 91.2 Per common share income Basic $ 0.66 $ 0.52 Diluted $ 0.66 $ 0.52 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. There were no excluded stock awards for the three months ended March 31, 2019 . The excluded stock awards represented an aggregate of 0.8 million shares for the three months ended March 31, 2018 .

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 was $ 0.3 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 $ 9.8 million , translated to U.S. dollars at the March 31, 2019 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 condensed 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 condensed consolidated financial statements.

Segments of Business

Segments of Business	3 Months Ended
	Mar. 31, 2019
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 percent of the Company's sales for the three months ended March 31, 2019 and 2018. 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 March 31, Business Segments (in millions) 2019 2018 Sales including intersegment sales: U.S. Packaging $ 681.8 $ 676.1 Latin America Packaging 143.4 170.5 Rest of World Packaging 193.4 196.1 Intersegment sales: U.S. Packaging (12.9 ) (10.1 ) Latin America Packaging (1.3 ) (1.1 ) Rest of World Packaging (3.0 ) (4.1 ) Total net sales $ 1,001.4 $ 1,027.4 Segment operating profit U.S. Packaging $ 91.5 $ 87.2 Latin America Packaging (1) 11.9 8.0 Rest of World Packaging 20.1 16.5 Restructuring and other costs 6.9 13.4 General corporate expenses 19.5 17.8 Operating income 97.1 80.5 Interest expense 18.5 18.9 Other non-operating income (1.8 ) (0.9 ) Income before income taxes $ 80.4 $ 62.5 (1) In the first quarter of 2019, the Company recognized a non-cash benefit for Brazil tax credits as a result of a final Brazilian court decision related to indirect taxes previously paid. The benefit was $5.8 million pre-tax and $3.8 million net of taxes. Please refer to the Reconciliation of Non-GAAP Earnings per share in this release. As reported in its Annual Report on Form 10-K, in the fourth quarter of 2018, the Company recognized a non-cash benefit of $15.3 million pre-tax and $10.1 million net of taxes related to the same topic. The additional amount was recorded in the first quarter of 2019 after the Company completed its analysis of the benefit to which it is entitled under the Brazilian court decision in 2018. A summary of the Company’s net sales by geographic area reported by its three business segments follows: Three Months Ended March 31, 2019 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 668.9 $ — $ 66.2 $ 735.1 Brazil — 93.8 — 93.8 Other Americas — 48.3 — 48.3 Europe — — 81.1 81.1 Asia-Pacific — — 43.1 43.1 Total $ 668.9 $ 142.1 $ 190.4 $ 1,001.4 Three Months Ended March 31, 2018 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 666.0 $ — $ 59.3 $ 725.3 Brazil — 112.1 — 112.1 Other Americas — 57.3 — 57.3 Europe — — 85.4 85.4 Asia-Pacific — — 47.3 47.3 Total $ 666.0 $ 169.4 $ 192.0 $ 1,027.4 (1) Net sales are attributed to geographic areas based on location of the Company’s manufacturing or selling operation.

Significant Policies Update (Po

Significant Policies Update (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements [Policy Text Block]	Recently Issued Accounting Standards The Company considers the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the FASB. The Company determined that all ASUs not yet adopted to be either not applicable or are expected to have minimal impact on the Company's consolidated financial statements.
Lessee, Leases [Policy Text Block]	As the Company's leases do not provide an implicit rate, the Company uses its incremental borrowing rate as of the commencement date to determine the present value of lease payments. Leases The Company has operating leases for certain manufacturing sites, office space, warehouses, land, vehicles and equipment. Most leases include the option to renew, with renewal terms that can extend the lease term from one to five years or more. Right-of-use lease assets and lease liabilities are recognized at the commencement date based on the present value of the remaining lease payments over the lease term which includes renewal periods the Company is reasonably certain to exercise. The Company has elected to combine lease and non-lease components for all asset classes other than real estate, vehicles and equipment. Short term leases with a term of twelve months or less, including reasonably certain holding periods, are not recorded on the balance sheet. The Company's leases do not contain any material residual value guarantees or material restrictive covenants. At March 31, 2019, the Company does not have material lease commitments that have not commenced.

Restructuring and Other Costs (

Restructuring and Other Costs (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, (in millions) 2019 2018 Restructuring costs $ 1.3 $ 5.3 Restructuring related costs 2.7 8.1 Other charges 2.9 — Total restructuring and other costs $ 6.9 $ 13.4

Restructuring Plans (Tables)

Restructuring Plans (Tables)	3 Months Ended
	Mar. 31, 2019
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 net expense accrued 9.6 7.3 1.9 0.5 19.3 2019 first quarter net expense accrued 0.3 0.7 0.2 0.1 1.3 Expense incurred to date 23.3 28.7 3.6 4.1 59.7 Estimated future expense 6.4 3.6 0.2 — 10.2 Estimated costs of program $ 29.7 $ 32.3 $ 3.8 $ 4.1 $ 69.9
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	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, 2018 $ 6.9 $ — $ 4.0 $ 10.9 Net expense accrued 0.2 0.1 1.0 1.3 Utilization (cash payments or otherwise settled) (1.3 ) (0.1 ) (0.9 ) (2.3 ) Translation adjustments and other — — — — Reserve balance at March 31, 2019 $ 5.8 $ — $ 4.1 $ 9.9

Financial Assets and Financia_2

Financial Assets and Financial Liabilities Measured at Fair Value (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 follow: March 31, 2019 December 31, 2018 (in millions) Carrying Value Fair Value (Level 2) Carrying Value Fair Value (Level 2) Long-term debt, less current portion $ 1,395.0 $ 1,406.0 $ 1,348.6 $ 1,342.0
Fair values for derivatives	The fair value of the Company's derivatives follows: Fair Value As of Fair Value As of March 31, 2019 December 31, 2018 (in millions) (Level 2) (Level 2) Interest rate swaps — net asset (liability) position $ 0.6 $ (2.7 )

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 are presented in the table below: Fair Value (Level 2) As of (in millions) Balance Sheet Location March 31, 2019 December 31, 2018 Asset Derivatives Interest rate swaps — designated as hedge Deferred charges and other assets $ 0.6 Liability Derivatives Interest rate swaps — designated as hedge Other liabilities and deferred credits $ 2.7
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 March 31, (in millions) Location of Gain (Loss) Recognized in Income on Derivatives 2019 2018 Designated as hedges Interest rate swaps Interest expense $ (0.1 ) $ (0.6 ) Not designated as hedges Forward exchange contracts Other operating income 0.1 (0.3 ) Total $ — $ (0.9 )

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Summary of inventory	Inventories are summarized as follows: (in millions) March 31, December 31, Raw materials and supplies $ 203.9 $ 197.4 Work in process and finished goods 436.2 422.1 Total inventories $ 640.1 $ 619.5

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
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 2019 $ 12.3 2020 15.7 2021 13.9 2022 12.3 2023 11.7 2024 9.8
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, 2018 $ 632.3 $ 212.9 $ 845.2 Currency translation 0.2 (0.2 ) — Reported balance at March 31, 2019 $ 632.5 $ 212.7 $ 845.2
Components of amortized intangible assets	The components of other intangible assets follow: March 31, 2019 December 31, 2018 (in millions) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Contract based $ 9.4 $ (1.7 ) $ 9.1 $ (1.5 ) Technology based 79.4 (62.0 ) 79.3 (60.9 ) Marketing related 12.9 (9.2 ) 12.9 (9.1 ) Customer based 205.1 (116.5 ) 205.3 (113.7 ) Reported balance $ 306.8 $ (189.4 ) $ 306.6 $ (185.2 )

Components of Net Periodic Be_2

Components of Net Periodic Benefit Cost (Tables)	3 Months Ended
	Mar. 31, 2019
Retirement Benefits, Description [Abstract]
Components of net periodic benefit cost	Three Months Ended March 31, Pension Benefits Other Benefits (in millions) 2019 2018 2019 2018 Service cost - benefits earned during the period $ 2.3 $ 1.9 $ — $ — Interest cost on projected benefit obligation 7.0 6.7 — — Expected return on plan assets (10.6 ) (10.8 ) — — Amortization: Prior service cost 0.3 0.2 — — Actuarial net loss (gain) 2.6 4.2 (0.3 ) (0.3 ) Net periodic benefit cost $ 1.6 $ 2.2 $ (0.3 ) $ (0.3 )

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense were as follows: (in millions) Three Months Ended March 31, Income Statement Location 2019 Operating leases Cost of products sold $ 1.3 Selling, general and administrative expenses 0.9 Total operating lease cost (1) $ 2.2
Schedule of Lease Assets and Liabilities [Table Text Block]	Supplemental balance sheet information related to leases was as follows: (in millions) Balance Sheet Location March 31, 2019 Assets Operating lease assets Operating lease assets $ 51.1 Total operating lease assets 51.1 Liabilities Current operating lease liabilities Other current liabilities 6.0 Noncurrent operating lease liabilities Operating lease liabilities 45.2 Total operating lease liabilities $ 51.2
Supplemental Lease Cash Flow Information [Table Text Block]	Supplemental cash flow information related to leases was as follows: Three Months Ended March 31, (in millions) 2019 Operating leases Cash paid for amounts included in the measurement of lease liabilities $ 2.1 Right-of-use assets obtained in exchange for lease obligations $ 0.2
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The Company’s future minimum lease commitments as of December 31, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows: (in millions) Operating Leases 2019 $ 7.7 2020 6.7 2021 6.0 2022 5.6 2023 4.7 Thereafter 30.6 Total minimum obligations $ 61.3 Maturities of lease liabilities were as follows: (in millions) Operating Leases Remainder of 2019 $ 6.2 2020 7.5 2021 6.7 2022 5.6 2023 5.0 After 2023 36.1 Total lease payments 67.1 Less: imputed interest 15.9 Present value of lease liabilities $ 51.2
Schedule of Lease Term and Discount Rate [Table Text Block]	The weighted average remaining lease term and discount rate are as follows: March 31, 2019 Weighted Average Remaining Lease Term Operating Leases 11.1 years Weighted Average Discount Rate Operating Leases 5.1 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2017 $ (291.1 ) $ (103.4 ) $ (394.5 ) Other comprehensive income (loss) before reclassifications 15.6 — 15.6 Amounts reclassified from accumulated other comprehensive income (loss) — 3.0 3.0 Net current period other comprehensive income (loss) 15.6 3.0 18.6 March 31, 2018 $ (275.5 ) $ (100.4 ) $ (375.9 ) December 31, 2018 $ (385.4 ) $ (140.1 ) $ (525.5 ) Other comprehensive income (loss) before reclassifications 2.0 — 2.0 Amounts reclassified from accumulated other comprehensive income (loss) — 1.9 1.9 Net current period other comprehensive income (loss) 2.0 1.9 3.9 March 31, 2019 $ (383.4 ) $ (138.2 ) $ (521.6 )
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 March 31, (in millions) 2019 2018 Pension and postretirement costs (See Note 9) $ 2.6 $ 4.1 Tax benefit (0.7 ) (1.1 ) Pension and postretirement costs, net of tax $ 1.9 $ 3.0

Earnings Per Share Computatio_2

Earnings Per Share Computations (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Calculation of earnings per share	A reconciliation of basic and diluted earnings per share is below: Three Months Ended March 31, (in millions, except per share amounts) 2019 2018 Numerator Net income $ 60.4 $ 47.6 Denominator Weighted average common shares outstanding — basic 91.2 91.0 Dilutive shares 0.8 0.2 Weighted average common and common equivalent shares outstanding — diluted 92.0 91.2 Per common share income Basic $ 0.66 $ 0.52 Diluted $ 0.66 $ 0.52

Segments of Business (Tables)

Segments of Business (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, Business Segments (in millions) 2019 2018 Sales including intersegment sales: U.S. Packaging $ 681.8 $ 676.1 Latin America Packaging 143.4 170.5 Rest of World Packaging 193.4 196.1 Intersegment sales: U.S. Packaging (12.9 ) (10.1 ) Latin America Packaging (1.3 ) (1.1 ) Rest of World Packaging (3.0 ) (4.1 ) Total net sales $ 1,001.4 $ 1,027.4 Segment operating profit U.S. Packaging $ 91.5 $ 87.2 Latin America Packaging (1) 11.9 8.0 Rest of World Packaging 20.1 16.5 Restructuring and other costs 6.9 13.4 General corporate expenses 19.5 17.8 Operating income 97.1 80.5 Interest expense 18.5 18.9 Other non-operating income (1.8 ) (0.9 ) Income before income taxes $ 80.4 $ 62.5 (1) In the first quarter of 2019, the Company recognized a non-cash benefit for Brazil tax credits as a result of a final Brazilian court decision related to indirect taxes previously paid. The benefit was $5.8 million pre-tax and $3.8 million net of taxes. Please refer to the Reconciliation of Non-GAAP Earnings per share in this release. As reported in its Annual Report on Form 10-K, in the fourth quarter of 2018, the Company recognized a non-cash benefit of $15.3 million pre-tax and $10.1 million net of taxes related to the same topic. The additional amount was recorded in the first quarter of 2019 after the Company completed its analysis of the benefit to which it is entitled under the Brazilian court decision in 2018. A summary of the Company’s net sales by geographic area reported by its three business segments follows: Three Months Ended March 31, 2019 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 668.9 $ — $ 66.2 $ 735.1 Brazil — 93.8 — 93.8 Other Americas — 48.3 — 48.3 Europe — — 81.1 81.1 Asia-Pacific — — 43.1 43.1 Total $ 668.9 $ 142.1 $ 190.4 $ 1,001.4 Three Months Ended March 31, 2018 Net sales by geographic area (in millions) U.S. Packaging Latin America Packaging Rest of World Packaging Total Net sales (1): United States $ 666.0 $ — $ 59.3 $ 725.3 Brazil — 112.1 — 112.1 Other Americas — 57.3 — 57.3 Europe — — 85.4 85.4 Asia-Pacific — — 47.3 47.3 Total $ 666.0 $ 169.4 $ 192.0 $ 1,027.4 (1) Net sales are attributed to geographic areas based on location of the Company’s manufacturing or selling operation.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details)	Mar. 31, 2019
Amcor shareholders percentage ownership post transaction [Member]
Shareholders Percentage Ownership Post Transaction [Line Items]
shareholders percentage ownership	0.71
Bemis shareholders percentage ownership post transaction [Member]
Shareholders Percentage Ownership Post Transaction [Line Items]
shareholders percentage ownership	0.29

Basis of Presentation Basis o_2

Basis of Presentation Basis of Presentation (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Termination Fee [Line Items]
Other Costs	$ 2.9	$ 0
termination fee paid to Amcor [Member]
Termination Fee [Line Items]
termination fee	130
termination fee paid to Bemis [Member]
Termination Fee [Line Items]
termination fee	$ 130

New Accounting Guidance (Detail

New Accounting Guidance (Details) $ in Millions	Mar. 31, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Liability	$ 51.2
Operating Lease, Right-of-Use Asset	$ 51.1

Restructuring and Other Costs_2

Restructuring and Other Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
restructuring and other costs [Line Items]
Restructuring Costs	$ 1.3	$ 5.3
Other Restructuring Costs	2.7	8.1
Other Costs	2.9	0
Restructuring and other costs	$ 6.9	$ 13.4

Restructuring Plans (Details)

Restructuring Plans (Details) $ in Millions	3 Months Ended		12 Months Ended		22 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2019USD ($)
Restructuring Reserve Disclosures [Line Items]
Restructuring and acquisition-related costs	$ 6.9	$ 13.4
2017 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 Ceasing Operations	3
Restructuring and Related Cost, Expected Number of Positions Eliminated		500
Restructuring and Related Cost Number of Facilities Closed	4
Restructuring Charges	$ 1.3		$ 19.3	$ 39.1	$ 59.7
Restructuring and Related Cost, Expected Cost Remaining	10.2				10.2
Restructuring Reserve Settled	(2.3)
Restructuring Reserve, Translation and Other Adjustment	0
Restructuring Reserve	9.9		10.9		9.9
Payments for Restructuring	2.3		17.4	6.8
Restructuring and Related Cost, Expected Cost	69.9				69.9
Employee Related Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.2
Restructuring Reserve Settled	(1.3)
Restructuring Reserve, Translation and Other Adjustment	0
Restructuring Reserve	5.8		6.9		5.8
Fixed Asset Related Expenses [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.1
Restructuring Reserve Settled	(0.1)
Restructuring Reserve, Translation and Other Adjustment	0
Restructuring Reserve	0		0		0
Other Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	1
Restructuring Reserve Settled	(0.9)
Restructuring Reserve, Translation and Other Adjustment	0
Restructuring Reserve	4.1		4		4.1
USPackaging [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.3		9.6	13.4	23.3
Restructuring and Related Cost, Expected Cost Remaining	6.4				6.4
Restructuring and Related Cost, Expected Cost	29.7				29.7
Latin America [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.7		7.3	20.7	28.7
Restructuring and Related Cost, Expected Cost Remaining	3.6				3.6
Restructuring and Related Cost, Expected Cost	32.3				32.3
Rest of World [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.2		1.9	1.5	3.6
Restructuring and Related Cost, Expected Cost Remaining	0.2				0.2
Restructuring and Related Cost, Expected Cost	3.8				3.8
Corporate Segment [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring Charges	0.1		$ 0.5	$ 3.5	4.1
Restructuring and Related Cost, Expected Cost Remaining	0				0
Restructuring and Related Cost, Expected Cost	4.1				4.1
Minimum [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	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
Minimum [Member] | Fixed Asset Related Expenses [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	22				22
Minimum [Member] | Other Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	14				14
Maximum [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	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
Maximum [Member] | Fixed Asset Related Expenses [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	24				24
Maximum [Member] | Other Costs [Member] | 2017 Restructuring Program [Member]
Restructuring Reserve Disclosures [Line Items]
Restructuring and Related Cost, Expected Cost	$ 15				$ 15

Financial Assets and Financia_3

Financial Assets and Financial Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Carrying Value
Carrying values and estimated fair values of long-term debt, including current maturities
Total long-term debt	$ 1,395	$ 1,348.6
Fair Value | (Level 2)
Carrying values and estimated fair values of long-term debt, including current maturities
Total long-term debt	$ 1,406	$ 1,342

Financial Assets and Financia_4

Financial Assets and Financial Liabilities Measured at Fair Value (Details 2) - Measured on a recurring basis - (Level 2) - Interest-rate swap - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Fair values for derivatives
Derivative Asset	$ 0.6
Derivative Liability		$ (2.7)

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Derivative Instruments
Maximum Remaining Maturity of Foreign Currency Derivatives	3 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	$ 3.9	$ 0.3
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 Asset	$ 0.6
Derivative Liability		$ (2.7)

Derivative Instruments (Detai_2

Derivative Instruments (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Derivative Instruments, Gain (Loss)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ 0	$ (0.9)
Designated as Hedging Instrument [Member] | Interest-rate swap
Derivative Instruments, Gain (Loss)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	(0.1)	(0.6)
Derivatives not designated as hedging instruments | Forward exchange contracts
Derivative Instruments, Gain (Loss)
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ 0.1	$ (0.3)

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Inventory valuation
Raw materials and supplies	$ 203.9	$ 197.4
Work in process and finished goods	436.2	422.1
Total inventories	$ 640.1	$ 619.5

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Changes in the carrying amount of goodwill
Reported balance at the beginning of the period	$ 845.2
Currency translation	0
Reported balance at the end of the period	845.2
USPackaging [Member]
Changes in the carrying amount of goodwill
Reported balance at the beginning of the period	632.3
Currency translation	0.2
Reported balance at the end of the period	632.5
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	212.9
Currency translation	(0.2)
Reported balance at the end of the period	$ 212.7

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Components of amortized intangible assets
Gross Carrying Amount	$ 306.8		$ 306.6
Accumulated Amortization	(189.4)		(185.2)
Amortization expense for intangible assets	4.1	$ 4.2
Estimated amortization expense
Remainder of fiscal year	12.3
2019	15.7
2020	13.9
2021	12.3
2022	11.7
2023	9.8
Contract based
Components of amortized intangible assets
Gross Carrying Amount	9.4		9.1
Accumulated Amortization	(1.7)		(1.5)
Technology based
Components of amortized intangible assets
Gross Carrying Amount	79.4		79.3
Accumulated Amortization	(62)		(60.9)
Marketing related
Components of amortized intangible assets
Gross Carrying Amount	12.9		12.9
Accumulated Amortization	(9.2)		(9.1)
Customer based
Components of amortized intangible assets
Gross Carrying Amount	205.1		205.3
Accumulated Amortization	$ (116.5)		$ (113.7)

Components of Net Periodic Be_3

Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension Plan, Defined Benefit [Member]
Components of Net Periodic Benefit Cost
Service cost - benefits earned during the period	$ 2.3	$ 1.9
Interest cost on projected benefit obligation	7	6.7
Expected return on plan assets	(10.6)	(10.8)
Amortization of prior service cost	0.3	0.2
Recognized actuarial net (gain) or loss	2.6	4.2
Net periodic benefit (income) cost	1.6	2.2
Other Postretirement Benefit Plan, Defined Benefit [Member]
Components of Net Periodic Benefit Cost
Service cost - benefits earned during the period	0	0
Interest cost on projected benefit obligation	0	0
Expected return on plan assets	0	0
Amortization of prior service cost	0	0
Recognized actuarial net (gain) or loss	(0.3)	(0.3)
Net periodic benefit (income) cost	(0.3)	(0.3)
Bemis Investment Profit Sharing Plan and Other Defined Contribution Plans [Member]
Components of Net Periodic Benefit Cost
Defined contribution benefits plans	$ 6.6	$ 7.1

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
lease expense [Line Items]
Operating Lease, Right-of-Use Asset	$ 51.1
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 6.2
Operating Lease, Weighted Average Remaining Lease Term	11 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	5.07%
Operating Leases, Future Minimum Payments Due, Next Twelve Months		$ 7.7
Operating Lease, Payments	$ 2.1
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	0.2
Operating Lease, Expense	2.2
Operating Leases, Future Minimum Payments, Due in Two Years		6.7
Operating Leases, Future Minimum Payments, Due in Three Years		6
Operating Leases, Future Minimum Payments, Due in Four Years		5.6
Operating Leases, Future Minimum Payments, Due in Five Years		4.7
Operating Leases, Future Minimum Payments, Due Thereafter		30.6
Operating Leases, Future Minimum Payments Due		61.3
Lessee, Operating Lease, Liability, Payments, Due Year Two	7.5
Lessee, Operating Lease, Liability, Payments, Due Year Three	6.7
Lessee, Operating Lease, Liability, Payments, Due Year Four	5.6
Lessee, Operating Lease, Liability, Payments, Due Year Five	5
Lessee, Operating Lease, Liability, Payments, Due after Year Five	36.1
Lessee, Operating Lease, Liability, Payments, Due	67.1
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	15.9
Operating Lease, Liability	51.2
Operating Lease, Liability, Current	6
Operating Lease, Liability, Noncurrent	45.2
Operating Lease, Right-of-Use Asset	51.1
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 6.2
Operating Lease, Weighted Average Remaining Lease Term	11 years 1 month 6 days
Operating Lease, Weighted Average Discount Rate, Percent	5.07%
Operating Leases, Future Minimum Payments Due, Next Twelve Months		7.7
Operating Lease, Payments	$ 2.1
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	0.2
Operating Lease, Expense	2.2
Operating Leases, Future Minimum Payments, Due in Two Years		6.7
Operating Leases, Future Minimum Payments, Due in Three Years		6
Operating Leases, Future Minimum Payments, Due in Four Years		5.6
Operating Leases, Future Minimum Payments, Due in Five Years		4.7
Operating Leases, Future Minimum Payments, Due Thereafter		30.6
Operating Leases, Future Minimum Payments Due		$ 61.3
Lessee, Operating Lease, Liability, Payments, Due Year Two	7.5
Lessee, Operating Lease, Liability, Payments, Due Year Three	6.7
Lessee, Operating Lease, Liability, Payments, Due Year Four	5.6
Lessee, Operating Lease, Liability, Payments, Due Year Five	5
Lessee, Operating Lease, Liability, Payments, Due after Year Five	36.1
Lessee, Operating Lease, Liability, Payments, Due	67.1
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	15.9
Operating Lease, Liability	51.2
Operating Lease, Liability, Current	6
Operating Lease, Liability, Noncurrent	45.2
Cost of Sales [Member]
lease expense [Line Items]
Operating Lease, Expense	1.3
Operating Lease, Expense	1.3
Selling, General and Administrative Expenses [Member]
lease expense [Line Items]
Operating Lease, Expense	0.9
Operating Lease, Expense	$ 0.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Taxes [Abstract]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount	$ 0.2	$ (0.4)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Accumulated other comprehensive loss, net of tax
Foreign currency translation	$ (383.4)	$ (275.5)	$ (385.4)	$ (291.1)
Pension and other postretirement liability adjustment, net of deferred tax effect	(138.2)	(100.4)	(140.1)	(103.4)
Accumulated other comprehensive loss	(521.6)	(375.9)	$ (525.5)	$ (394.5)
Tax effect of pension liability adjustment	46.7	47.3
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Gain (Loss) Recognized in Net Periodic Benefit Cost, before Tax	2.6	4.1
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax	(0.7)	(1.1)
Other comprehensive income, before reclassification, foreign currency translation	2	15.6
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	1.9	3
Translation adjustments	2	15.6
Pension and other postretirement liability adjustments, net of tax	1.9	3
Other comprehensive income (loss)	3.9	18.6
Before reclassification [Member]
Accumulated other comprehensive loss, net of tax
Other comprehensive income (loss)	2	15.6
Reclassified [Member]
Accumulated other comprehensive loss, net of tax
Other comprehensive income (loss)	$ 1.9	$ 3

Earnings Per Share Computatio_3

Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator
Net income	$ 60.4	$ 47.6
Denominator
Basic weighted-average common shares outstanding	91.2	91
Dilutive shares	0.8	0.2
Weighted-average common and common equivalent shares outstanding - diluted	92	91.2
Per common share income
Net income, per basic share	$ 0.66	$ 0.52
Net income, per diluted share	$ 0.66	$ 0.52
Antidilutive stock options and stock awards	0	0.8

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
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	$ 0.3	$ 0.3
TaxAssessmentForGoodwillAmortization	$ 9.8

Segments of Business (Details)

Segments of Business (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Segment Reporting [Abstract]
Reporting Segments Number	3
Segment reporting information
Revenue	$ 1,001.4	$ 1,027.4
Operating Profit and Pretax Profit:
Operating Income (Loss)	97.1	80.5
Interest expense	18.5	18.9
Other non-operating (income) expense, net	(1.8)	(0.9)
Income from continuing operations before income taxes	80.4	$ 62.5
Segment Reporting, Disclosure of Major Customers		0.11
USPackaging [Member]
Segment reporting information
Revenue	668.9	$ 666
Operating Profit and Pretax Profit:
Operating Income (Loss)	91.5	87.2
Latin America [Member]
Segment reporting information
Revenue	142.1	169.4
Operating Profit and Pretax Profit:
Operating Income (Loss)	11.9	8
Rest of World [Member]
Segment reporting information
Revenue	190.4	192
Operating Profit and Pretax Profit:
Operating Income (Loss)	20.1	16.5
Restructuring and acquisition-related costs [Member]
Operating Profit and Pretax Profit:
Operating Income (Loss)	6.9	13.4
GeneralCorporateExpenses [Member]
Operating Profit and Pretax Profit:
Operating Income (Loss)	19.5	17.8
Operating Segments [Member] | USPackaging [Member]
Segment reporting information
Revenue	681.8	676.1
Operating Segments [Member] | Latin America [Member]
Segment reporting information
Revenue	143.4	170.5
Operating Segments [Member] | Rest of World [Member]
Segment reporting information
Revenue	193.4	196.1
Intersegment Eliminations [Member] | USPackaging [Member]
Segment reporting information
Revenue	(12.9)	(10.1)
Intersegment Eliminations [Member] | Latin America [Member]
Segment reporting information
Revenue	(1.3)	(1.1)
Intersegment Eliminations [Member] | Rest of World [Member]
Segment reporting information
Revenue	(3)	(4.1)
UNITED STATES
Segment reporting information
Revenue	735.1	725.3
UNITED STATES | USPackaging [Member]
Segment reporting information
Revenue	668.9	666
UNITED STATES | Latin America [Member]
Segment reporting information
Revenue	0	0
UNITED STATES | Rest of World [Member]
Segment reporting information
Revenue	66.2	59.3
BRAZIL
Segment reporting information
Revenue	93.8	112.1
BRAZIL | USPackaging [Member]
Segment reporting information
Revenue	0	0
BRAZIL | Latin America [Member]
Segment reporting information
Revenue	93.8	112.1
BRAZIL | Rest of World [Member]
Segment reporting information
Revenue	0	0
Other Americas [Member]
Segment reporting information
Revenue	48.3	57.3
Other Americas [Member] | USPackaging [Member]
Segment reporting information
Revenue	0	0
Other Americas [Member] | Latin America [Member]
Segment reporting information
Revenue	48.3	57.3
Other Americas [Member] | Rest of World [Member]
Segment reporting information
Revenue	0	0
Europe [Member]
Segment reporting information
Revenue	81.1	85.4
Europe [Member] | USPackaging [Member]
Segment reporting information
Revenue	0	0
Europe [Member] | Latin America [Member]
Segment reporting information
Revenue	0	0
Europe [Member] | Rest of World [Member]
Segment reporting information
Revenue	81.1	85.4
Asia Pacific [Member]
Segment reporting information
Revenue	43.1	47.3
Asia Pacific [Member] | USPackaging [Member]
Segment reporting information
Revenue	0	0
Asia Pacific [Member] | Latin America [Member]
Segment reporting information
Revenue	0	0
Asia Pacific [Member] | Rest of World [Member]
Segment reporting information
Revenue	$ 43.1	$ 47.3