Graphic Packaging Holding (GPK) 10-Q 27 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 25, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	GRAPHIC PACKAGING HOLDING CO
Entity Central Index Key	1,408,075
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		319,114,601

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Net Sales	$ 1,103.2	$ 1,057.1	$ 2,137.2	$ 2,065.3
Cost of Sales	898.4	859.1	1,724.7	1,677.7
Selling, General and Administrative	92.7	88.7	181.8	174.1
Other Expense (Income), Net	1.2	(4.8)	2.1	(8.1)
Business Combinations and Other Special Charges	5.3	3.9	15.8	6.1
Income from Operations	105.6	110.2	212.8	215.5
Interest Expense, Net	(18.2)	(17.8)	(35.1)	(34.7)
Income before Income Taxes and Equity Income of Unconsolidated Entity	87.4	92.4	177.7	180.8
Income Tax Expense	(10.1)	(35.1)	(43.3)	(68.7)
Income before Equity Income of Unconsolidated Entity	77.3	57.3	134.4	112.1
Equity Income of Unconsolidated Entity	0.5	0.3	0.9	0.6
Net Income	$ 77.8	$ 57.6	$ 135.3	$ 112.7
Net Income Per Share - Basic and Diluted (in dollars per share)	$ 0.24	$ 0.17	$ 0.42	$ 0.34
Cash dividends declared (in dollars per share)	$ 0.05	$ 0.05	$ 0.10	$ 0.10

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net Income	$ 77.8	$ 57.6	$ 135.3	$ 112.7
Other Comprehensive Income (Loss), Net of Tax:
Derivative Instruments	5	1.9	3	2.4
Currency Translation Adjustment	(25.5)	10.4	(19.5)	(9.7)
Pension and Postretirement Benefit Plans	(23.3)	18.8	(20.7)	22
Total Other Comprehensive (Loss) Income, Net of Tax	(43.8)	31.1	(37.2)	14.7
Total Comprehensive Income	$ 34	$ 88.7	$ 98.1	$ 127.4

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and Cash Equivalents	$ 38.7	$ 54.9
Receivables, Net	501.2	423.9
Inventories, Net	589.9	557.1
Other Current Assets	39.2	30.9
Total Current Assets	1,169	1,066.8
Property, Plant and Equipment, Net	1,746.9	1,586.4
Goodwill	1,267.8	1,167.8
Intangible Assets, Net	488	386.7
Other Assets	48.3	48.4
Total Assets	4,720	4,256.1
Current Liabilities:
Short-Term Debt and Current Portion of Long-Term Debt	61.8	36.6
Accounts Payable	422	457.9
Compensation and Employee Benefits	113.4	119.7
Other Accrued Liabilities	129.1	118
Total Current Liabilities	726.3	732.2
Long-Term Debt	2,212.9	1,838.9
Deferred Income Tax Liabilities	345.3	266.7
Accrued Pension and Postretirement Benefits	278.5	247.3
Other Noncurrent Liabilities	70.4	69.3
SHAREHOLDERS’ EQUITY
Preferred Stock, par value $.01 per share; 100,000,000 shares authorized; no shares issued or outstanding	0	0
Common Stock, par value $.01 per share; 1,000,000,000 shares authorized; 320,018,455 and 324,688,717 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	3.2	3.2
Capital in Excess of Par Value	1,737.6	1,771
Accumulated Deficit	(271.3)	(326.8)
Accumulated Other Comprehensive Loss	(382.9)	(345.7)
Total Shareholders' Equity	1,086.6	1,101.7
Total Liabilities and Shareholders' Equity	$ 4,720	$ 4,256.1

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	320,018,455	324,688,717
Common stock, shares outstanding (in shares)	320,018,455	324,688,717

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 135.3	$ 112.7
Non-cash Items Included in Net Income:
Depreciation and Amortization	145.9	139.3
Deferred Income Taxes	31.8	61.7
Amount of Postretirement Expense Less Than Funding	(2.1)	(13.6)
Other, Net	24.2	16
Changes in Operating Assets and Liabilities	(88.1)	(138.8)
Net Cash Provided by Operating Activities	247	177.3
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Spending	(179.4)	(120.1)
Packaging Machinery Spending	(6.6)	(6.9)
Acquisition of Businesses, Net of Cash Acquired	(328.9)	(113.6)
Other, Net	(2.8)	4.7
Net Cash Used in Investing Activities	(517.7)	(235.9)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of Common Stock	(79.7)	(8)
Payments on Debt	(12.5)	(12.5)
Borrowings under Revolving Credit Facilities	843.3	596.4
Payments on Revolving Credit Facilities	(454.5)	(511.3)
Repurchase of Common Stock related to Share-Based Payments	(10.4)	(21.1)
Dividends Paid	(32.4)	(16.4)
Other, Net	(0.3)	(0.4)
Net Cash Provided by Financing Activities	253.5	26.7
Effect of Exchange Rate Changes on Cash	1	(2.9)
Net Decrease in Cash and Cash Equivalents	(16.2)	(34.8)
Cash and Cash Equivalents at Beginning of Period	54.9	81.6
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 38.7	$ 46.8

General Information

General Information	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General Information	GENERAL INFORMATION Nature of Business and Basis of Presentation Graphic Packaging Holding Company (“GPHC” and, together with its subsidiaries, the “Company”) is committed to providing consumer packaging that makes a world of difference. The Company is a leading provider of paper-based packaging solutions for a wide variety of products to food, beverage and other consumer products companies. The Company operates on a global basis and is one of the largest producers of folding cartons in the United States ("U.S.") and holds leading market positions in coated unbleached kraft paperboard ("CUK") and coated-recycled paperboard ("CRB"). The Company’s customers include many of the world’s most widely recognized companies and brands with prominent market positions in beverage, food and other consumer products. The Company strives to provide its customers with packaging solutions designed to deliver marketing and performance benefits at a competitive cost by capitalizing on its low-cost paperboard mills and converting plants, its proprietary carton and packaging designs, and its commitment to customer service. GPHC conducts no significant business and has no independent assets or operations other than its ownership of all of Graphic Packaging International, Inc.'s ("GPII'") outstanding common stock. The Company’s Condensed Consolidated Financial Statements include all subsidiaries in which the Company has the ability to exercise direct or indirect control over operating and financial policies. Intercompany transactions and balances are eliminated in consolidation. In the Company’s opinion, the accompanying Condensed Consolidated Financial Statements contain all normal recurring adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods. The Company’s year end Condensed Consolidated Balance Sheet data was derived from audited financial statements. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all the information required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. Therefore, these Condensed Consolidated Financial Statements should be read in conjunction with GPHC’s Form 10-K for the year ended December 31, 2015 . In addition, the preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from those estimates and changes in these estimates are recorded when known. For a summary of the Company’s significant accounting policies, please refer to GPHC’s Form 10-K for the year ended December 31, 2015 . Accounts Receivable and Allowances The Company has entered into agreements for the purchasing and servicing of receivables to sell, on a revolving basis, certain trade accounts receivable balances to a third party financial institution. Transfers under these agreements meet the requirements to be accounted for as sales in accordance with the Transfers and Servicing topic of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification (the "Codification"). During the first six months of 2016 , the Company sold and derecognized approximately $ 623 million of receivables, collected approximately $ 560 million on behalf of the financial institution, and received funding of approximately $84 million by the financial institution, resulting in deferred proceeds of approximately $ 31 million as of June 30, 2016 . During the same period of 2015 , the Company sold and derecognized approximately $488 million of receivables, collected approximately $342 million on behalf of the financial institution, and received funding of approximately $121 million by the financial institution, resulting in deferred proceeds of approximately $57 million as of June 30, 2015 . Cash proceeds related to the sales are included in cash from operating activities in the Condensed Consolidated Statements of Cash Flows in the Changes in Operating Assets and Liabilities line item. The loss on sale is not material and is included in Other Expense (Income), Net line item on the Condensed Consolidated Statement of Operations. The Company has also entered into various factoring and supply chain financing arrangements, principally at the request of customers, which also qualify for sale accounting in accordance with the Transfers and Servicing topic of the FASB Codification. For the six months ended June 30, 2016 and 2015 , the Company sold receivables of approximately $19 million and $98 million , respectively, related to these factoring arrangements. Receivables sold under all programs subject to continuing involvement, which consist principally of collection services, at June 30, 2016 and December 31, 2015 , were approximately $345 million and $ 282 million , respectively. Capital Allocation Plan On February 25, 2016 and May 25, 2016 , the Company's board of directors declared a regular quarterly dividend of $ 0.05 per share of common stock paid on April 5, 2016 to shareholders of record as of March 15, 2016 and paid on July 5, 2016 to shareholders of record as of June 15, 2016 , respectively. On February 4, 2015, the Company's board of directors authorized a share repurchase program to allow the Company to purchase up to $ 250 million of the Company's issued and outstanding shares of common stock through open market purchases, privately negotiated transactions and Rule 10b5-1 plans. The Company repurchased 6,555,073 , and 565,026 shares at an average price of $12.51 and $14.16 during the six months ended June 30, 2016 and June 30, 2015 , respectively. As of June 30, 2016 , the Company has approximately $105 million remaining under the current share repurchase program. Business Combinations and Other Special Charges The following table summarizes the transactions recorded in Business Combinations and Other Special Charges in the Consolidated Statements of Operations: Three Months Ended Six Months Ended June 30, June 30, In millions 2016 2015 2016 2015 Charges Associated with Business Combinations $ 5.3 $ 3.4 $ 10.4 $ 4.4 Other Special Charges — 0.5 5.4 1.7 Total $ 5.3 $ 3.9 $ 15.8 $ 6.1 On April 29, 2016, the Company completed the previously announced acquisition of Colorpak Limited ("Colorpak"), a leading folding carton supplier in Australia and New Zealand. Colorpak operates three folding carton facilities that convert paperboard into folding cartons for the food, beverage and consumer product markets. The folding carton facilities are located in Melbourne, Australia, Sydney, Australia and Auckland, New Zealand. On March 31, 2016, the Company acquired substantially all of the assets of Metro Packaging & Imaging, Inc. ("Metro"), a single converting facility located in Wayne, New Jersey. On February 16, 2016, the Company acquired Walter G. Anderson, Inc., ("WG Anderson") a premier folding carton manufacturer with a focus on store branded food and consumer product markets. WG Anderson operates two world-class sheet-fed folding carton converting facilities located in Hamel, Minnesota and Newton, Iowa. On January 5, 2016, the Company acquired G-Box, S.A. de C.V., ("G-Box"). The acquisition includes two folding carton converting facilities located in Monterrey, Mexico and Tijuana, Mexico that service the food, beverage, and consumer products markets. On October 1, 2015, the Company acquired the converting assets of Staunton, VA-based Carded Graphics, LLC, ("Carded"), an award winning folding carton producer with a strong regional presence in food, craft beer and other consumer product markets. On February 4, 2015, the Company completed its acquisition of certain assets of Cascades Norampac Division ("Cascades"). On January 2, 2015, the Company completed its acquisition of Rose City Printing and Packaging, Inc. ("Rose City"). Charges associated with these acquisitions are reflected in Charges Associated with Business Combinations in the above table. For more information regarding the above acquisitions see Note 3 - Acquisitions . Adoption of New Accounting Standards Effective January 1, 2016, the Company adopted Accounting Standards Update ("ASU") No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. The amendments in this ASU eliminated the requirement to retrospectively account for provisional amounts recognized in a business combination. The adoption did not have any impact on the Company's disclosure for business combinations and financial position. Effective January 1, 2016 the Company adopted ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . The amendments in the ASU clarify the proper method of accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The adoption had no impact on the Company's financial position, results of operations and cash flows. Accounting Standards Not Yet Adopted In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718); Improvements to Employees Share-Based Payment Accounting . The amendments in this ASU are part of the simplification initiative by the FASB and involve several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as equity or liabilities, forfeitures, and classification on the statement of cash flows. The amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted in any annual or interim period. Depending on the amendment, methods used to apply the requirements of the amendment include modified retrospective, retrospectively, and prospectively. The Company is evaluating the impact of adoption on the Company's financial position, results of operations and cash flow. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . The amendments in this ASU require an entity to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. The amendments are effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted. The updated guidance requires a modified retrospective adoption. The Company is evaluating the impact of adoption on the Company's financial position, results of operation and cash flows. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . This amendment replaces the current method of measuring inventories at lower of cost or market with a lower of cost and net realizable value method. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Company is currently evaluating the impact of adoption on the Company's financial position, results of operations and cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . Adoption of ASU No. 2014-09 requires that an entity recognize revenue 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. On July 9, 2015, the FASB deferred the effective date by one year to December 15, 2017 for interim and annual reporting periods beginning after that date and permitted early adoption of the standard but not before the original effective date of December 15, 2016, and can be applied using a full retrospective or modified retrospective approach. The Company is currently evaluating the impact of adoption on the Company's financial position, results of operations and cash flows.

Inventories, Net

Inventories, Net	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventories, Net	INVENTORIES, NET Inventories, Net by major class: In millions June 30, 2016 December 31, 2015 Finished Goods $ 245.0 $ 265.5 Work in Progress 68.1 50.4 Raw Materials 196.4 163.0 Supplies 80.4 78.2 Total $ 589.9 $ 557.1

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS On April 29, 2016, the Company completed the previously announced acquisition of Colorpak, a leading folding carton supplier in Australia and New Zealand. Colorpak operates three folding carton facilities that convert paperboard into folding cartons for the food, beverage and consumer product markets. The folding carton facilities are located in Melbourne, Australia, Sydney, Australia and Auckland, New Zealand. On March 31, 2016, the Company completed the acquisition of substantially all the assets of Metro, a single converting facility located in Wayne, New Jersey. On February 16, 2016, the Company completed the acquisition of WG Anderson, a premier folding carton manufacturer with a focus on store branded food and consumer product markets. WG Anderson operates two world-class sheet-fed folding carton converting facilities located in Hamel, Minnesota and Newton, Iowa. On January 5, 2016, the Company acquired G-Box. The acquisition includes two folding carton converting facilities located in Monterrey, Mexico and Tijuana, Mexico that service the food, beverage, and consumer products markets. The Colorpak, Metro, WG Anderson and G-Box transactions are referred to collectively as the " 2016 Acquisitions " and are included in the Americas Paperboard Packaging Segment. The Company paid approximately $329 million , net of cash acquired, for the 2016 Acquisitions using existing cash and borrowings under its revolving line of credit, and assumed debt of approximately $31 million . The acquisition accounting for the 2016 Acquisitions has been preliminarily allocated to assets and liabilities assumed based on the estimated fair values as of the purchase dates and is subject to adjustments in subsequent periods once the third party valuations are completed. Management believes that the purchase price attributable to goodwill represents the benefits expected as the acquisitions were made to continue to grow the food and beverage business, integrate paperboard from the Company's mills and to further optimize the Company's supply chain footprint. The Company expects that any goodwill related to Metro will be deductible for tax purposes. The preliminary acquisition accounting allocation for the 2016 Acquisitions is as follows: In millions Amounts Recognized as of Acquisition Date Measurement Period Adjustments Amounts Recognized as of Acquisition Dates (as adjusted) Purchase Price $ 337.4 $ 2.9 $ 340.3 Assumed Debt 31.1 — 31.1 Total Purchase Consideration $ 368.5 $ 2.9 $ 371.4 Cash and Cash Equivalents $ 11.4 $ — $ 11.4 Receivables, Net 39.1 — 39.1 Inventories, Net 44.7 1.8 46.5 Other Current Assets 3.4 — 3.4 Property, Plant and Equipment, Net 106.2 21.3 127.5 Intangible Assets, Net — 132.5 132.5 Other Assets 9.5 — 9.5 Total Assets Acquired 214.3 155.6 369.9 Current Liabilities 49.6 — 49.6 Deferred Tax Liabilities 9.0 50.9 59.9 Other Noncurrent Liabilities — 0.3 0.3 Total Liabilities Assumed 58.6 51.2 109.8 Net Assets Acquired 155.7 104.4 260.1 Goodwill 212.8 (101.5 ) 111.3 Total Estimated Fair Value of Net Assets Acquired $ 368.5 $ 2.9 $ 371.4 On October 1, 2015, the Company completed the acquisition of Carded. Based in Staunton, VA, Carded's state-of-the-art converting facility produces award winning folding cartons and has a strong regional presence in the food, craft beer and other consumer product markets. On February 4, 2015, the Company completed the acquisition of certain assets of Cascades in Canada. Cascades services the food and beverage markets and operates three folding carton converting facilities located in Cobourg, Ontario, Mississauga, Ontario and Winnipeg, Manitoba along with a thermo mechanical pulp mill located in Jonquiere, Quebec and a coated recycled board mill located in East Angus, Quebec. The Jonquiere mill was shutdown in the third quarter of 2015. On January 2, 2015, the Company acquired Rose City through the purchase of all of the issued and outstanding stock of its parent company, Rose City Holding Company. Rose City services food and beverage markets and operates two folding carton converting facilities located in Gresham, OR and Vancouver, WA. The Cascades, Rose City, and Carded Graphics transactions are referred to collectively as the "North American Acquisitions." In 2015 , the Company paid approximately $164 million for the North American Acquisitions and the acquisition accounting has been finalized.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	DEBT For more information regarding the Company’s debt, see “ Note 5 — Debt” of the Notes to Consolidated Financial Statements of the Company’s 2015 Form 10-K. Long-Term Debt is composed of the following: In millions June 30, 2016 December 31, 2015 Senior Notes with interest payable semi-annually at 4.875%, effective rate of 4.95%, payable in 2022 $ 250.0 $ 250.0 Senior Notes with interest payable semi-annually at 4.75%, effective rate of 4.80%, payable in 2021 425.0 425.0 Senior Secured Term Loan Facilities with interest payable at various dates at floating rates (2.0% at June 30, 2016) payable through 2019 962.5 975.0 Senior Secured Revolving Facilities with interest payable at floating rates (1.9% at June 30, 2016) payable in 2019 607.5 224.8 Capital Lease Obligations 1.5 1.8 Other 4.1 1.8 Total Debt 2,250.6 1,878.4 Less: Current Portion 25.4 25.8 2,225.2 1,852.6 Less: Unamortized Deferred Debt Issuance Costs 12.3 13.7 Total Long-Term Debt $ 2,212.9 $ 1,838.9 At June 30, 2016 , the Company and its U.S. and international subsidiaries had the following commitments, amounts outstanding and amounts available under revolving credit facilities: In millions Total Commitments Total Outstanding Total Available Senior Secured Domestic Revolving Credit Facility (a) $ 1,250.0 $ 527.0 $ 696.8 Senior Secured International Revolving Credit Facility 177.0 80.5 96.5 Other International Facilities 22.6 10.0 12.6 Total $ 1,449.6 $ 617.5 $ 805.9 (a) In accordance with its debt agreements, the Company’s availability under its revolving credit facilities has been reduced by the amount of standby letters of credit issued of $26.2 million as of June 30, 2016 . These letters of credit are used primarily as security against its self-insurance obligations and workers’ compensation obligations. These letters of credit expire at various dates through early-2017 unless extended. The Credit Agreement and the indentures governing the 4.75% Senior Notes due 2021 and 4.875% Senior Notes due 2022 (the “Indentures”) limit the Company’s ability to incur additional indebtedness. Additional covenants contained in the Credit Agreement and the Indentures, among other things, restrict the ability of the Company to dispose of assets, incur guarantee obligations, prepay other indebtedness, make dividend and other restricted payments, create liens, make equity or debt investments, make acquisitions, modify terms of the Indenture, engage in mergers or consolidations, change the business conducted by the Company and its subsidiaries, and engage in certain transactions with affiliates. Such restrictions could limit the Company’s ability to respond to changing market conditions, fund its capital spending program, provide for unexpected capital investments or take advantage of business opportunities. Under the terms of the Credit Agreement, the Company must comply with a maximum consolidated total leverage ratio and a minimum consolidated interest coverage ratio. The Company's obligations under the Credit Agreement are secured by substantially all of the Company's domestic assets. As of June 30, 2016 , the Company was in compliance with the covenants in the Credit Agreement and the Indentures.

Stock Incentive Plans

Stock Incentive Plans	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plans	STOCK INCENTIVE PLANS The Company has one active equity compensation plan from which new grants may be made, the Graphic Packaging Holding Company 2014 Omnibus Stock and Incentive Compensation Plan (the “2014 Plan”). Under the 2014 Plan, the Company may grant stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”) and other types of stock-based and cash awards. Awards under the 2014 Plan generally vest and expire in accordance with terms established at the time of grant. Shares issued pursuant to awards under the 2014 Plan are from the Company’s authorized but unissued shares. Compensation costs are recognized on a straight-line basis over the requisite service period of the award. Stock Awards, Restricted Stock and Restricted Stock Units Under the 2014 Plan, all RSUs generally vest and become payable in three years from date of grant. RSUs granted to employees generally contain either performance conditions based on various financial targets or service requirements that must be met for the shares to vest. Stock awards granted to non-employee directors as part of their compensation for service on the Board are unrestricted on the grant date. Data concerning RSUs and stock awards granted in the first six months of 2016 is as follows: Shares Weighted Average Grant Date Fair Value Per Share RSUs — Employees 1,878,100 $ 11.19 Stock Awards — Board of Directors 59,880 13.36 During the six months ended June 30, 2016 and 2015 , $11.4 million and $11.5 million , respectively, were charged to compensation expense for stock incentive plans. During the six months ended June 30, 2016 and 2015 , approximately 1.6 million and 2.2 million shares were issued, respectively. The shares issued were primarily related to RSUs granted during 2013 and 2012, respectively.

Pensions and Other Postretireme

Pensions and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Pensions and Other Postretirement Benefits	PENSIONS AND OTHER POSTRETIREMENT BENEFITS The Company maintains both defined benefit pension plans and postretirement health care plans that provide medical and life insurance coverage to eligible salaried and hourly retired employees in North America and their dependents. The Company maintains international defined benefit pension plans which are either noncontributory or contributory and are funded in accordance with applicable local laws. Pension or termination benefits are based primarily on years of service and the employee's compensation. Pension and Postretirement Expense The pension and postretirement expenses related to the Company’s plans consisted of the following: Pension Benefits Postretirement Health Care Benefits Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, In millions 2016 2015 2016 2015 2016 2015 2016 2015 Components of Net Periodic Cost: Service Cost $ 2.4 $ 3.9 $ 4.9 $ 7.7 $ 0.2 $ 0.3 $ 0.4 $ 0.5 Interest Cost 11.3 13.6 22.4 27.0 0.4 0.5 0.7 0.9 Administrative Expenses 0.2 0.2 0.5 0.4 — — — — Expected Return on Plan Assets (15.1 ) (18.7 ) (30.2 ) (37.2 ) — — — — Amortization: Prior Service Cost (Credit) 0.2 0.1 0.4 0.3 — — (0.1 ) (0.1 ) Actuarial Loss (Gain) 7.1 5.6 11.9 11.1 (0.7 ) (0.3 ) (1.2 ) (0.7 ) Net Periodic Cost $ 6.1 $ 4.7 $ 9.9 $ 9.3 $ (0.1 ) $ 0.5 $ (0.2 ) $ 0.6 Employer Contributions The Company made contributions of $ 11.5 million and $ 22.6 million to its pension plans during the first six months of 2016 and 2015 , respectively. The Company expects to make contributions of $40 million to $60 million for the full year 2016 . During 2015 , the Company made $ 53.4 million of contributions to its pension plans. The Company made postretirement health care benefit payments of $ 0.3 million and $ 0.9 million during the first six months of 2016 and 2015 , respectively. The Company estimates its postretirement health care benefit payments for the full year 2016 to be approximately $ 3 million . During 2015 , the Company made postretirement health care benefit payments of $ 2.8 million .

Financial Instruments and Fair

Financial Instruments and Fair Value Measurement	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurement	FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENT The Company enters into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments under the Derivatives and Hedging topic of the FASB Codification and those not designated as hedging instruments under this guidance. The Company uses interest rate swaps, natural gas swap contracts, and forward exchange contracts. These derivative instruments are designated as cash flow hedges and, to the extent they are effective in offsetting the variability of the hedged cash flows, changes in the derivatives’ fair value are not included in current earnings but are included in Accumulated Other Comprehensive Income. These changes in fair value will subsequently be reclassified to earnings. For more information regarding the Company’s financial instruments and fair value measurement, see “ Note 9 — Financial Instruments, Derivatives and Hedging Activities” and “ Note 10 — Fair Value Measurement” of the Notes to Consolidated Financial Statements of the Company’s 2015 Form 10-K. Interest Rate Risk The Company uses interest rate swaps to manage interest rate risks on future interest payments caused by interest rate changes on its variable rate term loan facilities. The differential to be paid or received under these agreements is recognized as an adjustment to Interest Expense related to debt. The following table summarizes the Company's current interest rate swap positions for each period presented as of June 30, 2016 : Start End (In Millions) Weighted Average Interest Rate 04/01/2016 02/01/2017 $450.0 1.00% 02/01/2017 12/01/2017 $450.0 0.89% 12/01/2017 10/01/2018 $250.0 1.16% Changes in fair value will subsequently be reclassified into earnings as a component of Interest Expense, Net as interest is incurred on amounts outstanding under the term loan facility. Ineffectiveness measured in the hedging relationship is recorded in earnings in the period it occurs. During the first six months of 2016 and 2015 , there were no amounts of ineffectiveness related to changes in the fair value of interest rate swap agreements. Additionally, there were no amounts excluded from the measure of effectiveness. Commodity Risk To manage risks associated with future variability in cash flows and price risk attributable to certain commodity purchases, the Company enters into natural gas swap contracts to hedge prices for a designated percentage of its expected natural gas usage. Such contracts are designated as cash flow hedges. The contracts are carried at fair value with changes in fair value recognized in Accumulated Other Comprehensive Loss, and the resulting gain or loss is reclassified into Cost of Sales concurrently with the recognition of the commodity consumed and the ineffective portion of the swap contracts’ change in fair value would be recognized immediately in earnings. The Company has hedged approximately 67% and 29% of its expected natural gas usage for the remainder of 2016 and 2017 , respectively. During the first six months of 2016 and 2015 , there were minimal amounts of ineffectiveness related to changes in the fair value of natural gas swap contracts. Additionally, there were no amounts excluded from the measure of effectiveness. Foreign Currency Risk The Company enters into forward exchange contracts to manage risks associated with foreign currency transactions and future variability of cash flows arising from those transactions that may be adversely affected by changes in exchange rates. The contracts are carried at fair value with changes in fair value recognized in Accumulated Other Comprehensive Loss and gains/losses related to these contracts are recognized in Other Expense (Income), Net or Net Sales , when appropriate. At June 30, 2016 , multiple forward exchange contracts existed that expire on various dates through the remainder of 2016 . Those purchased forward exchange contracts outstanding at June 30, 2016 and December 31, 2015 , when aggregated and measured in U.S. dollars at contractual rates at June 30, 2016 and December 31, 2015 , had notional amounts totaling $ 30.2 million and $ 65.2 million , respectively. No amounts were reclassified to earnings during the first six months of 2016 or during 2015 in connection with forecasted transactions that were considered probable of not occurring and there was no amount of ineffectiveness related to changes in the fair value of foreign currency forward contracts. Additionally, there were no amounts excluded from the measure of effectiveness. Derivatives not Designated as Hedges The Company enters into forward exchange contracts to effectively hedge substantially all of its accounts receivable resulting from sales transactions denominated in foreign currencies in order to manage risks associated with variability in cash flows that may be adversely affected by changes in exchange rates. At June 30, 2016 and December 31, 2015 , multiple foreign currency forward exchange contracts existed, with maturities ranging up to three months. Those foreign currency exchange contracts outstanding at June 30, 2016 and December 31, 2015 , when aggregated and measured in U.S. dollars at exchange rates at June 30, 2016 and December 31, 2015 , had net notional amounts totaling $ 65.7 million and $ 45.5 million , respectively. Unrealized gains and losses resulting from these contracts are recognized in Other Expense (Income), Net and approximately offset corresponding recognized but unrealized gains and losses on the remeasurement of these accounts receivable. Fair Value of Financial Instruments The Company’s derivative instruments are carried at fair value. The Company has determined that the inputs to the valuation of these derivative instruments are Level 2 in the fair value hierarchy. Level 2 inputs are defined as quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. The Company uses valuation techniques based on discounted cash flow analyses, which reflect the terms of the derivatives and use observable market-based inputs, including forward rates, and uses market price quotations obtained from independent derivatives brokers, corroborated with information obtained from independent pricing service providers. As of June 30, 2016 , the Company had a gross derivative liability of $ 8.7 million and a gross derivative asset of $ 0.8 million , related to interest rate, foreign currency and commodity contracts. As of June 30, 2016 , there has not been any significant impact to the fair value of the Company’s derivative liabilities due to its own credit risk. Similarly, there has not been any significant adverse impact to the Company’s derivative assets based on evaluation of the Company’s counterparties’ credit risks. The fair values of the Company’s other financial assets and liabilities at June 30, 2016 and December 31, 2015 approximately equal the carrying values reported on the Condensed Consolidated Balance Sheets except for Long-Term Debt. The fair value of the Company’s Long-Term Debt (excluding capital leases and deferred financing fees) was $ 2,281.7 million and $ 1,891.2 million as compared to the carrying amounts of $2,249.1 million and $ 1,876.6 million as of June 30, 2016 and December 31, 2015 , respectively. The fair value of the Company’s Total Debt, including the Senior Notes, are based on quoted market prices (Level 2 inputs). The following is a rollforward of pre-tax Accumulated Other Comprehensive Loss pertaining to derivative instruments: In millions Balance at December 31, 2015 $ (13.5 ) Reclassification to Earnings 8.3 Current Period Change in Fair Value (3.6 ) Balance at June 30, 2016 $ (8.8 ) At June 30, 2016 , the Company expects to reclassify approximately $ 7.3 million of loss in the next twelve months from Accumulated Other Comprehensive Loss to earnings, contemporaneously with and offsetting changes in the related hedged exposure. The actual amount that will be reclassified to future earnings may vary from this amount as a result of changes in market conditions.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES During the six months ended June 30, 2016 , the Company recognized Income Tax Expense of $ 43.3 million on Income before Income Taxes and Equity Income of Unconsolidated Entity of $ 177.7 million . The effective tax rate for the six months ended June 30, 2016 is significantly lower than the statutory rate due to an agreement executed with the Internal Revenue Service. As a result of this agreement, the Company will amend its 2011 and 2012 U.S. federal and state tax returns and utilize previously expired net operating loss carryforwards. The Company recorded a discrete benefit during the quarter of $22.4 million to reflect the changes as a reduction in its net long-term deferred tax liability. The effective tax rate for the six months ended June 30, 2016 was also different from the statutory rate due to the mix and levels of earnings between foreign and domestic tax jurisdictions as well as other discrete items recorded during the quarter. During the six months ended June 30, 2015 , the Company recognized Income Tax Expense of $ 68.7 million on Income before Income Taxes and Equity Income of Unconsolidated Entity of $ 180.8 million . The effective tax rate for the six months ended June 30, 2015 was different than the statutory rate primarily due to the mix and levels between foreign and domestic earnings, including losses in jurisdictions with full valuation allowances. As of December 31, 2015 , the Company had approximately $470 million of Net Operating Losses (“NOLs”) for U.S. federal income tax purposes which may be used to offset future taxable income. The Company will utilize NOLs during 2016 and expects to have approximately $245 million to $295 million of NOLs remaining at December 31, 2016 . Based on these NOLs and other tax benefits, the Company does not expect to be a meaningful U.S. federal cash taxpayer until 2019.

Environmental and Legal Matters

Environmental and Legal Matters	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Environmental and Legal Matters	ENVIRONMENTAL AND LEGAL MATTERS Environmental Matters The Company is subject to a broad range of foreign, federal, state and local environmental, health and safety laws and regulations, including those governing discharges to air, soil and water, the management, treatment and disposal of hazardous substances, solid waste and hazardous wastes, the investigation and remediation of contamination resulting from historical site operations and releases of hazardous substances, and the health and safety of employees. Compliance initiatives could result in significant costs, which could negatively impact the Company’s consolidated financial position, results of operations or cash flows. Any failure to comply with environmental or health and safety laws and regulations or any permits and authorizations required thereunder could subject the Company to fines, corrective action or other sanctions. Some of the Company’s current and former facilities are the subject of environmental investigations and remediations resulting from historic operations and the release of hazardous substances or other constituents. Some current and former facilities have a history of industrial usage for which investigation and remediation obligations may be imposed in the future or for which indemnification claims may be asserted against the Company. Also, potential future closures or sales of facilities may necessitate further investigation and may result in future remediation at those facilities. The Company has established reserves for those facilities or issues where a liability is probable and the costs are reasonably estimable. The Company believes that the amounts accrued for its loss contingencies, and the reasonably possible loss beyond the amounts accrued, are not material to the Company’s consolidated financial position, results of operations or cash flows. The Company cannot estimate with certainty other future corrective compliance, investigation or remediation costs. Some costs relating to historic usage that the Company considers to be reasonably possible of resulting in liability are not quantifiable at this time. The Company will continue to monitor environmental issues at each of its facilities, as well as regulatory developments, and will revise its accruals, estimates and disclosures relating to past, present and future operations, as additional information is obtained. Legal Matters The Company is a party to a number of lawsuits arising in the ordinary conduct of its business. Although the timing and outcome of these lawsuits cannot be predicted with certainty, the Company does not believe that disposition of these lawsuits will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION During 2015, the Company reevaluated the aggregation of operating segments into reportable segments in accordance with FASB ASC 280 Segment Reporting, and concluded there are three reportable segments, and recast prior periods as follows: Paperboard Mills includes the seven North American paperboard mills which produce primarily CUK and CRB. The majority of the paperboard is consumed internally to produce paperboard packaging for the Americas and Europe Paperboard Packaging segments. The remaining paperboard is sold externally to a wide variety of paperboard packaging converters and brokers. The Paperboard Mills segment Net Sales represent the sale of paperboard only to external customers. The effect of intercompany transfers to the paperboard packaging segments has been eliminated from the Paperboard Mills segment to reflect the economics of the integration of these segments. Americas Paperboard Packaging includes paperboard packaging folding cartons sold primarily to Consumer Packaged Goods ("CPG") companies serving the food, beverage, and consumer product markets in the Americas. Europe Paperboard Packaging includes paperboard packaging folding cartons sold primarily to CPG companies serving the food, beverage and consumer product markets in Europe. The Company allocates certain mill and corporate costs to the reportable segments to appropriately represent the economics of these segments. The Corporate and Other caption includes the Pacific Rim operating segment and unallocated corporate and one-time costs. These segments are evaluated by the chief operating decision maker based primarily on Income from Operations, as adjusted for depreciation and amortization. The accounting policies of the reportable segments are the same as those described above in " Note 1 - Nature of Business and Basis of Presentation ." Segment information is as follows: Three Months Ended Six Months Ended June 30, June 30, In millions 2016 2015 2016 2015 NET SALES: Paperboard Mills $ 97.2 $ 124.3 $ 198.3 $ 227.7 Americas Paperboard Packaging 847.1 769.1 1,632.3 1,523.1 Europe Paperboard Packaging 148.9 154.3 293.2 299.0 Corporate/Other/Eliminations 10.0 9.4 13.4 15.5 Total $ 1,103.2 $ 1,057.1 $ 2,137.2 $ 2,065.3 INCOME (LOSS) FROM OPERATIONS: Paperboard Mills $ 0.7 $ 3.3 $ (1.5 ) $ 0.4 Americas Paperboard Packaging 102.9 98.8 218.2 199.5 Europe Paperboard Packaging 9.3 13.2 18.4 22.2 Corporate and Other (7.3 ) (5.1 ) (22.3 ) (6.6 ) Total $ 105.6 $ 110.2 $ 212.8 $ 215.5 DEPRECIATION AND AMORTIZATION: Paperboard Mills $ 29.6 $ 30.4 $ 60.7 $ 60.2 Americas Paperboard Packaging 33.4 27.5 61.1 52.8 Europe Paperboard Packaging 10.5 11.6 20.6 22.9 Corporate and Other 1.7 1.7 3.5 3.4 Total $ 75.2 $ 71.2 $ 145.9 $ 139.3 For more information regarding the Company’s business segments, see “ Note 16 — Business Segment and Geographic Area Information” of the Notes to Consolidated Financial Statements of the Company’s 2015 Form 10-K.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Three Months Ended Six Months Ended June 30, June 30, In millions, except per share data 2016 2015 2016 2015 Net Income $ 77.8 $ 57.6 $ 135.3 $ 112.7 Weighted Average Shares: Basic 322.1 330.2 323.3 329.9 Dilutive Effect of RSUs and Stock Awards 0.4 0.7 0.8 1.0 Diluted 322.5 330.9 324.1 330.9 Income Per Share — Basic $ 0.24 $ 0.17 $ 0.42 $ 0.34 Income Per Share — Diluted $ 0.24 $ 0.17 $ 0.42 $ 0.34

Equity

Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Equity	EQUITY The following is a summary of the changes in total equity for the six months ended June 30, 2016 : In millions Total Shareholders' Equity Balance at December 31, 2015 $ 1,101.7 Net Income 135.3 Other Comprehensive Income, Net of Tax (37.2 ) Dividends Declared (32.2 ) Repurchase of Common Stock (82.0 ) Compensation Expense Under Share-Based Plans 11.4 Repurchase of Common Stock related to Share-Based Payments (10.4 ) Balance at June 30, 2016 $ 1,086.6

Other Comprehensive (Loss) Inco

Other Comprehensive (Loss) Income	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Other Comprehensive (Loss) Income	OTHER COMPREHENSIVE (LOSS) INCOME The following represents changes in Accumulated Other Comprehensive (Loss) Income by each component of other comprehensive income for the six months ended June 30, 2016 (a) : In millions Derivative Instruments Currency Translation Adjustment Pension Benefit Plans Postretirement Benefit Plans Total Balance at December 31, 2015 $ (18.4 ) $ (87.8 ) $ (255.4 ) $ 15.9 $ (345.7 ) Other Comprehensive Loss before Reclassifications (2.1 ) (19.5 ) (26.7 ) (0.9 ) (49.2 ) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (b) 5.1 — 7.7 (0.8 ) 12.0 Net Current-period Other Comprehensive Income (Loss) 3.0 (19.5 ) (19.0 ) (1.7 ) (37.2 ) Balance at June 30, 2016 $ (15.4 ) $ (107.3 ) $ (274.4 ) $ 14.2 $ (382.9 ) (a) All amounts are net of income taxes. (b) See following table for details about these reclassifications. The following represents reclassifications out of Accumulated Other Comprehensive (Loss) Income for the six months ended June 30, 2016 : In millions Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Derivatives Instruments: Commodity Contracts $ 8.0 Cost of Sales Foreign Currency Contracts (0.8 ) Other Expense (Income), Net Interest Rate Swap Agreements 1.1 Interest Expense, Net 8.3 Total before Tax (3.2 ) Tax Benefit $ 5.1 Net of Tax Amortization of Defined Benefit Pension Plans: Prior Service Costs $ 0.4 (c) Actuarial Losses 11.9 (c) 12.3 Total before Tax (4.6 ) Tax Benefit $ 7.7 Net of Tax Amortization of Postretirement Benefit Plans: Prior Service Credits $ (0.1 ) (c) Actuarial Gains (1.2 ) (c) (1.3 ) Total before Tax 0.5 Tax Expense $ (0.8 ) Net of Tax Total Reclassifications for the Period $ 12.0 (c) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see “ Note 6 — Pensions and Other Postretirement Benefits" ).

Guarantor Condensed Consolidati

Guarantor Condensed Consolidating Financial Statements	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Condensed Consolidating Financial Statements	GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS These consolidating financial statements reflect GPHC (“the Parent”); GPII (the "Subsidiary Issuer"); and the Subsidiary Guarantors, which consist of all material 100% owned subsidiaries of GPII other than its foreign subsidiaries; and the nonguarantor subsidiaries (herein referred to as “Nonguarantor Subsidiaries”). The Nonguarantor Subsidiaries include all of GPII's foreign subsidiaries. Separate complete financial statements of the Subsidiary Guarantors are not presented because the guarantors are jointly and severally, fully and unconditionally liable under the guarantees. Three Months Ended June 30, 2016 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated Net Sales $ — $ 874.2 $ 29.2 $ 271.4 $ (71.6 ) $ 1,103.2 Cost of Sales — 709.7 25.2 235.1 (71.6 ) 898.4 Selling, General and Administrative — 69.4 3.0 20.3 — 92.7 Other (Income) Expense, Net — (1.0 ) — 2.2 — 1.2 Business Combinations and Other Special Charges — 4.0 — 1.3 — 5.3 Income from Operations — 92.1 1.0 12.5 — 105.6 Interest Expense, Net — (17.2 ) — (1.0 ) — (18.2 ) Income before Income Taxes and Equity Income of Unconsolidated Entity — 74.9 1.0 11.5 — 87.4 Income Tax Expense — (4.5 ) (0.6 ) (5.0 ) — (10.1 ) Income before Equity Income of Unconsolidated Entity — 70.4 0.4 6.5 — 77.3 Equity Income of Unconsolidated Entity — — — 0.5 — 0.5 Equity in Net Earnings of Subsidiaries 77.8 7.4 (0.9 ) — (84.3 ) — Net Income (Loss) $ 77.8 $ 77.8 $ (0.5 ) $ 7.0 $ (84.3 ) $ 77.8 Comprehensive Income (Loss) $ 34.0 $ 34.0 $ (2.4 ) $ (31.2 ) $ (0.4 ) $ 34.0 Three Months Ended June 30, 2015 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated Net Sales $ — $ 856.4 $ 0.5 $ 267.6 $ (67.4 ) $ 1,057.1 Cost of Sales — 696.9 (0.2 ) 229.8 (67.4 ) 859.1 Selling, General and Administrative — 67.2 0.1 21.4 — 88.7 Other Income, Net — (4.0 ) — (0.8 ) — (4.8 ) Business Combinations and Other Special Charges — 0.5 — 3.4 — 3.9 Income from Operations — 95.8 0.6 13.8 — 110.2 Interest Expense, Net — (16.9 ) — (0.9 ) — (17.8 ) Income before Income Taxes and Equity Income of Unconsolidated Entity — 78.9 0.6 12.9 — 92.4 Income Tax (Expense) Benefit — (29.6 ) 0.4 (5.9 ) — (35.1 ) Income before Equity Income of Unconsolidated Entity — 49.3 1.0 7.0 — 57.3 Equity Income of Unconsolidated Entity — — — 0.3 — 0.3 Equity in Net Earnings of Subsidiaries 57.6 8.3 (0.7 ) — (65.2 ) — Net Income (Loss) $ 57.6 $ 57.6 $ 0.3 $ 7.3 $ (65.2 ) $ 57.6 Comprehensive Income (Loss) $ 88.7 $ 88.7 $ (0.5 ) $ 37.3 $ (125.5 ) $ 88.7 Six Months Ended June 30, 2016 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated Net Sales $ — $ 1,740.2 $ 45.3 $ 502.7 $ (151.0 ) $ 2,137.2 Cost of Sales — 1,401.1 37.9 436.7 (151.0 ) 1,724.7 Selling, General and Administrative — 139.5 3.7 38.6 — 181.8 Other (Income) Expense, Net — (2.6 ) — 4.7 — 2.1 Business Combinations and Other Special Charges — 14.5 — 1.3 — 15.8 Income from Operations — 187.7 3.7 21.4 — 212.8 Interest Expense, Net — (33.1 ) — (2.0 ) — (35.1 ) Income before Income Taxes and Equity Income of Unconsolidated Entity — 154.6 3.7 19.4 — 177.7 Income Tax Expense — (36.1 ) (1.7 ) (5.5 ) — (43.3 ) Income before Equity Income of Unconsolidated Entity — 118.5 2.0 13.9 — 134.4 Equity Income of Unconsolidated Entity — — — 0.9 — 0.9 Equity in Net Earnings of Subsidiaries 135.3 16.8 (3.5 ) — (148.6 ) — Net Income (Loss) $ 135.3 $ 135.3 $ (1.5 ) $ 14.8 $ (148.6 ) $ 135.3 Comprehensive Income (Loss) $ 98.1 $ 98.1 $ (3.4 ) $ (18.2 ) $ (76.5 ) $ 98.1 Six Months Ended June 30, 2015 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated Net Sales $ — $ 1,690.7 $ 0.8 $ 501.3 $ (127.5 ) $ 2,065.3 Cost of Sales — 1,374.2 (0.5 ) 431.5 (127.5 ) 1,677.7 Selling, General and Administrative — 134.3 2.2 37.6 — 174.1 Other Income, Net — (7.4 ) — (0.7 ) — (8.1 ) Business Combinations and Other Special Charges — 1.7 — 4.4 — 6.1 Income (Loss) from Operations — 187.9 (0.9 ) 28.5 — 215.5 Interest Expense, Net — (32.9 ) — (1.8 ) — (34.7 ) Income before Income Taxes and Equity Income of Unconsolidated Entity — 155.0 (0.9 ) 26.7 — 180.8 Income Tax (Expense) Benefit — (58.0 ) 0.4 (11.1 ) — (68.7 ) Income before Equity Income of Unconsolidated Entity — 97.0 (0.5 ) 15.6 — 112.1 Equity Income of Unconsolidated Entity — — — 0.6 — 0.6 Equity in Net Earnings of Subsidiaries 112.7 15.7 1.0 — (129.4 ) — Net Income (Loss) $ 112.7 $ 112.7 $ 0.5 $ 16.2 $ (129.4 ) $ 112.7 Comprehensive Income (Loss) $ 127.4 $ 127.4 $ (1.4 ) $ 13.6 $ (139.6 ) $ 127.4 June 30, 2016 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated ASSETS Current Assets: Cash and Cash Equivalents $ — $ — $ 3.6 $ 35.1 $ — $ 38.7 Receivables, Net — 237.9 6.2 257.1 — 501.2 Inventories, Net — 399.7 12.4 177.8 — 589.9 Intercompany — 988.8 45.4 — (1,034.2 ) — Other Current Assets — 26.1 — 13.1 — 39.2 Total Current Assets — 1,652.5 67.6 483.1 (1,034.2 ) 1,169.0 Property, Plant and Equipment, Net — 1,422.8 64.5 259.6 — 1,746.9 Investment in Consolidated Subsidiaries 1,274.9 — 14.6 — (1,289.5 ) — Goodwill — 1,089.8 52.9 125.1 — 1,267.8 Other Assets — 352.9 70.5 113.6 (0.7 ) 536.3 Total Assets $ 1,274.9 $ 4,518.0 $ 270.1 $ 981.4 $ (2,324.4 ) $ 4,720.0 LIABILITIES Current Liabilities: Short-Term Debt and Current Portion of Long-Term Debt $ — $ 25.3 $ — $ 36.5 $ — $ 61.8 Accounts Payable — 311.6 5.3 105.1 — 422.0 Intercompany 188.3 — — 893.1 (1,081.4 ) — Other Accrued Liabilities — 180.4 1.9 60.2 — 242.5 Total Current Liabilities 188.3 517.3 7.2 1,094.9 (1,081.4 ) 726.3 Long-Term Debt — 2,127.6 — 85.3 — 2,212.9 Deferred Income Tax Liabilities — 273.9 43.3 28.1 — 345.3 Other Noncurrent Liabilities — 324.3 — 25.3 (0.7 ) 348.9 EQUITY Total Equity 1,086.6 1,274.9 219.6 (252.2 ) (1,242.3 ) 1,086.6 Total Liabilities and Equity $ 1,274.9 $ 4,518.0 $ 270.1 $ 981.4 $ (2,324.4 ) $ 4,720.0 December 31, 2015 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated ASSETS Current Assets: Cash and Cash Equivalents $ — $ 0.1 $ — $ 54.8 $ — $ 54.9 Receivables, Net — 217.0 — 206.9 — 423.9 Inventories, Net — 408.8 — 148.3 — 557.1 Intercompany — 656.4 21.6 — (678.0 ) — Other Current Assets — 19.2 6.3 5.4 — 30.9 Total Current Assets — 1,301.5 27.9 415.4 (678.0 ) 1,066.8 Property, Plant and Equipment, Net — 1,358.0 0.2 228.2 — 1,586.4 Investment in Consolidated Subsidiaries 1,176.8 — 15.2 — (1,192.0 ) — Goodwill — 1,042.8 — 125.0 — 1,167.8 Other Assets — 334.7 — 100.4 — 435.1 Total Assets $ 1,176.8 $ 4,037.0 $ 43.3 $ 869.0 $ (1,870.0 ) $ 4,256.1 LIABILITIES Current Liabilities: Short-Term Debt and Current Portion of Long-Term Debt $ — $ 25.5 $ — $ 11.1 $ — $ 36.6 Accounts Payable — 342.8 — 115.1 — 457.9 Intercompany 75.1 — — 808.8 (883.9 ) — Other Accrued Liabilities — 191.8 — 45.9 — 237.7 Total Current Liabilities 75.1 560.1 — 980.9 (883.9 ) 732.2 Long-Term Debt — 1,761.4 — 77.5 — 1,838.9 Deferred Income Tax Liabilities — 249.2 — 17.5 — 266.7 Other Noncurrent Liabilities — 289.5 — 27.1 — 316.6 EQUITY Total Equity 1,101.7 1,176.8 43.3 (234.0 ) (986.1 ) 1,101.7 Total Liabilities and Equity $ 1,176.8 $ 4,037.0 $ 43.3 $ 869.0 $ (1,870.0 ) $ 4,256.1 Six Months Ended June 30, 2016 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net Income (Loss) $ 135.3 $ 135.3 $ (1.5 ) $ 14.8 $ (148.6 ) $ 135.3 Non-cash Items Included in Net Income (Loss): Depreciation and Amortization — 117.0 5.3 23.6 — 145.9 Deferred Income Taxes — 29.6 1.6 0.6 — 31.8 Amount of Postretirement Expense Greater (Less) Than Funding — 0.7 — (2.8 ) — (2.1 ) Equity in Net Earnings of Subsidiaries (135.3 ) (16.8 ) 3.5 — 148.6 — Other, Net — 25.0 — (0.8 ) — 24.2 Changes in Operating Assets and Liabilities — (51.0 ) (5.3 ) (31.8 ) — (88.1 ) Net Cash Provided by Operating Activities — 239.8 3.6 3.6 — 247.0 CASH FLOWS FROM INVESTING ACTIVITIES: Capital Spending — (147.6 ) — (31.8 ) — (179.4 ) Packaging Machinery Spending — (6.6 ) — — — (6.6 ) Acquisition of Business, Net of Cash Acquired — (169.5 ) (159.4 ) — (328.9 ) Other, Net 122.5 (163.4 ) — — 38.1 (2.8 ) Net Cash Provided by (Used in) Investing Activities 122.5 (487.1 ) — (191.2 ) 38.1 (517.7 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repurchase of Common Stock (79.7 ) — — — — (79.7 ) Payments on Debt — (12.5 ) — — — (12.5 ) Borrowings under Revolving Credit Facilities — 799.7 — 43.6 — 843.3 Payments on Revolving Credit Facilities — (417.2 ) — (37.3 ) — (454.5 ) Dividends Paid (32.4 ) — — — — (32.4 ) Repurchase of Common Stock related to Share-Based Payments (10.4 ) — — — — (10.4 ) Other, Net — (122.8 ) — 160.6 (38.1 ) (0.3 ) Net Cash (Used in) Provided by Financing Activities (122.5 ) 247.2 — 166.9 (38.1 ) 253.5 Effect of Exchange Rate Changes on Cash — — — 1.0 — 1.0 Net (Decrease) Increase in Cash and Cash Equivalents — (0.1 ) 3.6 (19.7 ) — (16.2 ) Cash and Cash Equivalents at Beginning of Period — 0.1 — 54.8 — 54.9 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ — $ 3.6 $ 35.1 $ — $ 38.7 Six Months Ended June 30, 2015 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net Income (Loss) $ 112.7 $ 112.7 $ 0.5 $ 16.2 $ (129.4 ) $ 112.7 Non-cash Items Included in Net Income (Loss): Depreciation and Amortization — 115.2 1.0 23.1 — 139.3 Deferred Income Taxes — 54.4 (0.6 ) 7.9 — 61.7 Amount of Postretirement Expense Less Than Funding — (8.8 ) — (4.8 ) — (13.6 ) Equity in Net Earnings of Subsidiaries (112.7 ) (15.7 ) (1.0 ) — 129.4 — Other, Net — 17.3 — (1.3 ) — 16.0 Changes in Operating Assets and Liabilities — (208.3 ) 0.3 69.2 — (138.8 ) Net Cash Provided By Operating Activities — 66.8 0.2 110.3 — 177.3 CASH FLOWS FROM INVESTING ACTIVITIES: Capital Spending — (97.8 ) (0.2 ) (22.1 ) — (120.1 ) Packaging Machinery Spending — (6.9 ) — — — (6.9 ) Acquisition of Business, Net of Cash Acquired — — — (113.6 ) — (113.6 ) Other, Net 45.5 1.8 — 2.9 (45.5 ) 4.7 Net Cash Provided by (Used in) Investing Activities 45.5 (102.9 ) (0.2 ) (132.8 ) (45.5 ) (235.9 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repurchase of Common Stock (8.0 ) — — — — (8.0 ) Payments on Debt — (12.5 ) — — — (12.5 ) Borrowings under Revolving Credit Facilities — 591.4 — 5.0 — 596.4 Payments on Revolving Credit Facilities — (487.6 ) — (23.7 ) — (511.3 ) Dividends Paid (16.4 ) — — — — (16.4 ) Repurchase of Common Stock related to Share-Based Payments (21.1 ) — — — — (21.1 ) Other, Net — (45.9 ) — — 45.5 (0.4 ) Net Cash (Used in) Provided by Financing Activities (45.5 ) 45.4 — (18.7 ) 45.5 26.7 Effect of Exchange Rate Changes on Cash — — — (2.9 ) — (2.9 ) Net Increase (Decrease) in Cash and Cash Equivalents — 9.3 — (44.1 ) — (34.8 ) Cash and Cash Equivalents at Beginning of Period — 2.0 — 79.6 — 81.6 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 11.3 $ — $ 35.5 $ — $ 46.8

General Information (Policies)

General Information (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Consolidation	The Company’s Condensed Consolidated Financial Statements include all subsidiaries in which the Company has the ability to exercise direct or indirect control over operating and financial policies. Intercompany transactions and balances are eliminated in consolidation.
Basis of Accounting	In the Company’s opinion, the accompanying Condensed Consolidated Financial Statements contain all normal recurring adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods. The Company’s year end Condensed Consolidated Balance Sheet data was derived from audited financial statements. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all the information required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) for complete financial statements. Therefore, these Condensed Consolidated Financial Statements should be read in conjunction with GPHC’s Form 10-K for the year ended December 31, 2015 .
Use of Estimates	In addition, the preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from those estimates and changes in these estimates are recorded when known.
Accounting Standards Adopted and Not Yet Adopted	Adoption of New Accounting Standards Effective January 1, 2016, the Company adopted Accounting Standards Update ("ASU") No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. The amendments in this ASU eliminated the requirement to retrospectively account for provisional amounts recognized in a business combination. The adoption did not have any impact on the Company's disclosure for business combinations and financial position. Effective January 1, 2016 the Company adopted ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . The amendments in the ASU clarify the proper method of accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The adoption had no impact on the Company's financial position, results of operations and cash flows. Accounting Standards Not Yet Adopted In March 2016, the FASB issued ASU No. 2016-09, Compensation-Stock Compensation (Topic 718); Improvements to Employees Share-Based Payment Accounting . The amendments in this ASU are part of the simplification initiative by the FASB and involve several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as equity or liabilities, forfeitures, and classification on the statement of cash flows. The amendments in this update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted in any annual or interim period. Depending on the amendment, methods used to apply the requirements of the amendment include modified retrospective, retrospectively, and prospectively. The Company is evaluating the impact of adoption on the Company's financial position, results of operations and cash flow. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . The amendments in this ASU require an entity to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. The amendments are effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted. The updated guidance requires a modified retrospective adoption. The Company is evaluating the impact of adoption on the Company's financial position, results of operation and cash flows. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . This amendment replaces the current method of measuring inventories at lower of cost or market with a lower of cost and net realizable value method. The amendments are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. The Company is currently evaluating the impact of adoption on the Company's financial position, results of operations and cash flows. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers . Adoption of ASU No. 2014-09 requires that an entity recognize revenue 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. On July 9, 2015, the FASB deferred the effective date by one year to December 15, 2017 for interim and annual reporting periods beginning after that date and permitted early adoption of the standard but not before the original effective date of December 15, 2016, and can be applied using a full retrospective or modified retrospective approach. The Company is currently evaluating the impact of adoption on the Company's financial position, results of operations and cash flows.

General Information (Tables)

General Information (Tables)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Restructuring and Other Special Charges	The following table summarizes the transactions recorded in Business Combinations and Other Special Charges in the Consolidated Statements of Operations: Three Months Ended Six Months Ended June 30, June 30, In millions 2016 2015 2016 2015 Charges Associated with Business Combinations $ 5.3 $ 3.4 $ 10.4 $ 4.4 Other Special Charges — 0.5 5.4 1.7 Total $ 5.3 $ 3.9 $ 15.8 $ 6.1

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventories, Net by major class	Inventories, Net by major class: In millions June 30, 2016 December 31, 2015 Finished Goods $ 245.0 $ 265.5 Work in Progress 68.1 50.4 Raw Materials 196.4 163.0 Supplies 80.4 78.2 Total $ 589.9 $ 557.1

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Schedule of acquisition accounting allocation	The preliminary acquisition accounting allocation for the 2016 Acquisitions is as follows: In millions Amounts Recognized as of Acquisition Date Measurement Period Adjustments Amounts Recognized as of Acquisition Dates (as adjusted) Purchase Price $ 337.4 $ 2.9 $ 340.3 Assumed Debt 31.1 — 31.1 Total Purchase Consideration $ 368.5 $ 2.9 $ 371.4 Cash and Cash Equivalents $ 11.4 $ — $ 11.4 Receivables, Net 39.1 — 39.1 Inventories, Net 44.7 1.8 46.5 Other Current Assets 3.4 — 3.4 Property, Plant and Equipment, Net 106.2 21.3 127.5 Intangible Assets, Net — 132.5 132.5 Other Assets 9.5 — 9.5 Total Assets Acquired 214.3 155.6 369.9 Current Liabilities 49.6 — 49.6 Deferred Tax Liabilities 9.0 50.9 59.9 Other Noncurrent Liabilities — 0.3 0.3 Total Liabilities Assumed 58.6 51.2 109.8 Net Assets Acquired 155.7 104.4 260.1 Goodwill 212.8 (101.5 ) 111.3 Total Estimated Fair Value of Net Assets Acquired $ 368.5 $ 2.9 $ 371.4

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-Term Debt is composed of the following: In millions June 30, 2016 December 31, 2015 Senior Notes with interest payable semi-annually at 4.875%, effective rate of 4.95%, payable in 2022 $ 250.0 $ 250.0 Senior Notes with interest payable semi-annually at 4.75%, effective rate of 4.80%, payable in 2021 425.0 425.0 Senior Secured Term Loan Facilities with interest payable at various dates at floating rates (2.0% at June 30, 2016) payable through 2019 962.5 975.0 Senior Secured Revolving Facilities with interest payable at floating rates (1.9% at June 30, 2016) payable in 2019 607.5 224.8 Capital Lease Obligations 1.5 1.8 Other 4.1 1.8 Total Debt 2,250.6 1,878.4 Less: Current Portion 25.4 25.8 2,225.2 1,852.6 Less: Unamortized Deferred Debt Issuance Costs 12.3 13.7 Total Long-Term Debt $ 2,212.9 $ 1,838.9
Schedule of Revolving Credit Facilities	At June 30, 2016 , the Company and its U.S. and international subsidiaries had the following commitments, amounts outstanding and amounts available under revolving credit facilities: In millions Total Commitments Total Outstanding Total Available Senior Secured Domestic Revolving Credit Facility (a) $ 1,250.0 $ 527.0 $ 696.8 Senior Secured International Revolving Credit Facility 177.0 80.5 96.5 Other International Facilities 22.6 10.0 12.6 Total $ 1,449.6 $ 617.5 $ 805.9 (a) In accordance with its debt agreements, the Company’s availability under its revolving credit facilities has been reduced by the amount of standby letters of credit issued of $26.2 million as of June 30, 2016 . These letters of credit are used primarily as security against its self-insurance obligations and workers’ compensation obligations. These letters of credit expire at various dates through early-2017 unless extended.

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Data concerning RSUs and stock awards granted	Data concerning RSUs and stock awards granted in the first six months of 2016 is as follows: Shares Weighted Average Grant Date Fair Value Per Share RSUs — Employees 1,878,100 $ 11.19 Stock Awards — Board of Directors 59,880 13.36

Pensions and Other Postretire27

Pensions and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of pension and postretirement expenses	The pension and postretirement expenses related to the Company’s plans consisted of the following: Pension Benefits Postretirement Health Care Benefits Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, In millions 2016 2015 2016 2015 2016 2015 2016 2015 Components of Net Periodic Cost: Service Cost $ 2.4 $ 3.9 $ 4.9 $ 7.7 $ 0.2 $ 0.3 $ 0.4 $ 0.5 Interest Cost 11.3 13.6 22.4 27.0 0.4 0.5 0.7 0.9 Administrative Expenses 0.2 0.2 0.5 0.4 — — — — Expected Return on Plan Assets (15.1 ) (18.7 ) (30.2 ) (37.2 ) — — — — Amortization: Prior Service Cost (Credit) 0.2 0.1 0.4 0.3 — — (0.1 ) (0.1 ) Actuarial Loss (Gain) 7.1 5.6 11.9 11.1 (0.7 ) (0.3 ) (1.2 ) (0.7 ) Net Periodic Cost $ 6.1 $ 4.7 $ 9.9 $ 9.3 $ (0.1 ) $ 0.5 $ (0.2 ) $ 0.6

Financial Instruments and Fai28

Financial Instruments and Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swap Positions	The following table summarizes the Company's current interest rate swap positions for each period presented as of June 30, 2016 : Start End (In Millions) Weighted Average Interest Rate 04/01/2016 02/01/2017 $450.0 1.00% 02/01/2017 12/01/2017 $450.0 0.89% 12/01/2017 10/01/2018 $250.0 1.16%
Rollforward of pre-tax derivative Accumulated Other Comprehensive Loss	The following is a rollforward of pre-tax Accumulated Other Comprehensive Loss pertaining to derivative instruments: In millions Balance at December 31, 2015 $ (13.5 ) Reclassification to Earnings 8.3 Current Period Change in Fair Value (3.6 ) Balance at June 30, 2016 $ (8.8 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Information	Segment information is as follows: Three Months Ended Six Months Ended June 30, June 30, In millions 2016 2015 2016 2015 NET SALES: Paperboard Mills $ 97.2 $ 124.3 $ 198.3 $ 227.7 Americas Paperboard Packaging 847.1 769.1 1,632.3 1,523.1 Europe Paperboard Packaging 148.9 154.3 293.2 299.0 Corporate/Other/Eliminations 10.0 9.4 13.4 15.5 Total $ 1,103.2 $ 1,057.1 $ 2,137.2 $ 2,065.3 INCOME (LOSS) FROM OPERATIONS: Paperboard Mills $ 0.7 $ 3.3 $ (1.5 ) $ 0.4 Americas Paperboard Packaging 102.9 98.8 218.2 199.5 Europe Paperboard Packaging 9.3 13.2 18.4 22.2 Corporate and Other (7.3 ) (5.1 ) (22.3 ) (6.6 ) Total $ 105.6 $ 110.2 $ 212.8 $ 215.5 DEPRECIATION AND AMORTIZATION: Paperboard Mills $ 29.6 $ 30.4 $ 60.7 $ 60.2 Americas Paperboard Packaging 33.4 27.5 61.1 52.8 Europe Paperboard Packaging 10.5 11.6 20.6 22.9 Corporate and Other 1.7 1.7 3.5 3.4 Total $ 75.2 $ 71.2 $ 145.9 $ 139.3

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of earnings per share	Three Months Ended Six Months Ended June 30, June 30, In millions, except per share data 2016 2015 2016 2015 Net Income $ 77.8 $ 57.6 $ 135.3 $ 112.7 Weighted Average Shares: Basic 322.1 330.2 323.3 329.9 Dilutive Effect of RSUs and Stock Awards 0.4 0.7 0.8 1.0 Diluted 322.5 330.9 324.1 330.9 Income Per Share — Basic $ 0.24 $ 0.17 $ 0.42 $ 0.34 Income Per Share — Diluted $ 0.24 $ 0.17 $ 0.42 $ 0.34

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Summary of Changes in Total Equity	The following is a summary of the changes in total equity for the six months ended June 30, 2016 : In millions Total Shareholders' Equity Balance at December 31, 2015 $ 1,101.7 Net Income 135.3 Other Comprehensive Income, Net of Tax (37.2 ) Dividends Declared (32.2 ) Repurchase of Common Stock (82.0 ) Compensation Expense Under Share-Based Plans 11.4 Repurchase of Common Stock related to Share-Based Payments (10.4 ) Balance at June 30, 2016 $ 1,086.6

Other Comprehensive (Loss) In32

Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of changes in Accumulated Other Comprehensive (Loss) Income	The following represents changes in Accumulated Other Comprehensive (Loss) Income by each component of other comprehensive income for the six months ended June 30, 2016 (a) : In millions Derivative Instruments Currency Translation Adjustment Pension Benefit Plans Postretirement Benefit Plans Total Balance at December 31, 2015 $ (18.4 ) $ (87.8 ) $ (255.4 ) $ 15.9 $ (345.7 ) Other Comprehensive Loss before Reclassifications (2.1 ) (19.5 ) (26.7 ) (0.9 ) (49.2 ) Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (b) 5.1 — 7.7 (0.8 ) 12.0 Net Current-period Other Comprehensive Income (Loss) 3.0 (19.5 ) (19.0 ) (1.7 ) (37.2 ) Balance at June 30, 2016 $ (15.4 ) $ (107.3 ) $ (274.4 ) $ 14.2 $ (382.9 ) (a) All amounts are net of income taxes. (b) See following table for details about these reclassifications.
Reclassification out of Accumulated Other Comprehensive (Loss) Income	The following represents reclassifications out of Accumulated Other Comprehensive (Loss) Income for the six months ended June 30, 2016 : In millions Details about Accumulated Other Comprehensive Income Components Amount Reclassified from Accumulated Other Comprehensive Income Affected Line Item in the Statement Where Net Income is Presented Derivatives Instruments: Commodity Contracts $ 8.0 Cost of Sales Foreign Currency Contracts (0.8 ) Other Expense (Income), Net Interest Rate Swap Agreements 1.1 Interest Expense, Net 8.3 Total before Tax (3.2 ) Tax Benefit $ 5.1 Net of Tax Amortization of Defined Benefit Pension Plans: Prior Service Costs $ 0.4 (c) Actuarial Losses 11.9 (c) 12.3 Total before Tax (4.6 ) Tax Benefit $ 7.7 Net of Tax Amortization of Postretirement Benefit Plans: Prior Service Credits $ (0.1 ) (c) Actuarial Gains (1.2 ) (c) (1.3 ) Total before Tax 0.5 Tax Expense $ (0.8 ) Net of Tax Total Reclassifications for the Period $ 12.0 (c) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see “ Note 6 — Pensions and Other Postretirement Benefits" ).

Guarantor Condensed Consolida33

Guarantor Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Guarantor Condensed Consolidating Statements of Operations	Three Months Ended June 30, 2016 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated Net Sales $ — $ 874.2 $ 29.2 $ 271.4 $ (71.6 ) $ 1,103.2 Cost of Sales — 709.7 25.2 235.1 (71.6 ) 898.4 Selling, General and Administrative — 69.4 3.0 20.3 — 92.7 Other (Income) Expense, Net — (1.0 ) — 2.2 — 1.2 Business Combinations and Other Special Charges — 4.0 — 1.3 — 5.3 Income from Operations — 92.1 1.0 12.5 — 105.6 Interest Expense, Net — (17.2 ) — (1.0 ) — (18.2 ) Income before Income Taxes and Equity Income of Unconsolidated Entity — 74.9 1.0 11.5 — 87.4 Income Tax Expense — (4.5 ) (0.6 ) (5.0 ) — (10.1 ) Income before Equity Income of Unconsolidated Entity — 70.4 0.4 6.5 — 77.3 Equity Income of Unconsolidated Entity — — — 0.5 — 0.5 Equity in Net Earnings of Subsidiaries 77.8 7.4 (0.9 ) — (84.3 ) — Net Income (Loss) $ 77.8 $ 77.8 $ (0.5 ) $ 7.0 $ (84.3 ) $ 77.8 Comprehensive Income (Loss) $ 34.0 $ 34.0 $ (2.4 ) $ (31.2 ) $ (0.4 ) $ 34.0 Three Months Ended June 30, 2015 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated Net Sales $ — $ 856.4 $ 0.5 $ 267.6 $ (67.4 ) $ 1,057.1 Cost of Sales — 696.9 (0.2 ) 229.8 (67.4 ) 859.1 Selling, General and Administrative — 67.2 0.1 21.4 — 88.7 Other Income, Net — (4.0 ) — (0.8 ) — (4.8 ) Business Combinations and Other Special Charges — 0.5 — 3.4 — 3.9 Income from Operations — 95.8 0.6 13.8 — 110.2 Interest Expense, Net — (16.9 ) — (0.9 ) — (17.8 ) Income before Income Taxes and Equity Income of Unconsolidated Entity — 78.9 0.6 12.9 — 92.4 Income Tax (Expense) Benefit — (29.6 ) 0.4 (5.9 ) — (35.1 ) Income before Equity Income of Unconsolidated Entity — 49.3 1.0 7.0 — 57.3 Equity Income of Unconsolidated Entity — — — 0.3 — 0.3 Equity in Net Earnings of Subsidiaries 57.6 8.3 (0.7 ) — (65.2 ) — Net Income (Loss) $ 57.6 $ 57.6 $ 0.3 $ 7.3 $ (65.2 ) $ 57.6 Comprehensive Income (Loss) $ 88.7 $ 88.7 $ (0.5 ) $ 37.3 $ (125.5 ) $ 88.7 Six Months Ended June 30, 2016 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated Net Sales $ — $ 1,740.2 $ 45.3 $ 502.7 $ (151.0 ) $ 2,137.2 Cost of Sales — 1,401.1 37.9 436.7 (151.0 ) 1,724.7 Selling, General and Administrative — 139.5 3.7 38.6 — 181.8 Other (Income) Expense, Net — (2.6 ) — 4.7 — 2.1 Business Combinations and Other Special Charges — 14.5 — 1.3 — 15.8 Income from Operations — 187.7 3.7 21.4 — 212.8 Interest Expense, Net — (33.1 ) — (2.0 ) — (35.1 ) Income before Income Taxes and Equity Income of Unconsolidated Entity — 154.6 3.7 19.4 — 177.7 Income Tax Expense — (36.1 ) (1.7 ) (5.5 ) — (43.3 ) Income before Equity Income of Unconsolidated Entity — 118.5 2.0 13.9 — 134.4 Equity Income of Unconsolidated Entity — — — 0.9 — 0.9 Equity in Net Earnings of Subsidiaries 135.3 16.8 (3.5 ) — (148.6 ) — Net Income (Loss) $ 135.3 $ 135.3 $ (1.5 ) $ 14.8 $ (148.6 ) $ 135.3 Comprehensive Income (Loss) $ 98.1 $ 98.1 $ (3.4 ) $ (18.2 ) $ (76.5 ) $ 98.1 Six Months Ended June 30, 2015 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated Net Sales $ — $ 1,690.7 $ 0.8 $ 501.3 $ (127.5 ) $ 2,065.3 Cost of Sales — 1,374.2 (0.5 ) 431.5 (127.5 ) 1,677.7 Selling, General and Administrative — 134.3 2.2 37.6 — 174.1 Other Income, Net — (7.4 ) — (0.7 ) — (8.1 ) Business Combinations and Other Special Charges — 1.7 — 4.4 — 6.1 Income (Loss) from Operations — 187.9 (0.9 ) 28.5 — 215.5 Interest Expense, Net — (32.9 ) — (1.8 ) — (34.7 ) Income before Income Taxes and Equity Income of Unconsolidated Entity — 155.0 (0.9 ) 26.7 — 180.8 Income Tax (Expense) Benefit — (58.0 ) 0.4 (11.1 ) — (68.7 ) Income before Equity Income of Unconsolidated Entity — 97.0 (0.5 ) 15.6 — 112.1 Equity Income of Unconsolidated Entity — — — 0.6 — 0.6 Equity in Net Earnings of Subsidiaries 112.7 15.7 1.0 — (129.4 ) — Net Income (Loss) $ 112.7 $ 112.7 $ 0.5 $ 16.2 $ (129.4 ) $ 112.7 Comprehensive Income (Loss) $ 127.4 $ 127.4 $ (1.4 ) $ 13.6 $ (139.6 ) $ 127.4
Schedule of Guarantor Condensed Consolidating Balance Sheets	June 30, 2016 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated ASSETS Current Assets: Cash and Cash Equivalents $ — $ — $ 3.6 $ 35.1 $ — $ 38.7 Receivables, Net — 237.9 6.2 257.1 — 501.2 Inventories, Net — 399.7 12.4 177.8 — 589.9 Intercompany — 988.8 45.4 — (1,034.2 ) — Other Current Assets — 26.1 — 13.1 — 39.2 Total Current Assets — 1,652.5 67.6 483.1 (1,034.2 ) 1,169.0 Property, Plant and Equipment, Net — 1,422.8 64.5 259.6 — 1,746.9 Investment in Consolidated Subsidiaries 1,274.9 — 14.6 — (1,289.5 ) — Goodwill — 1,089.8 52.9 125.1 — 1,267.8 Other Assets — 352.9 70.5 113.6 (0.7 ) 536.3 Total Assets $ 1,274.9 $ 4,518.0 $ 270.1 $ 981.4 $ (2,324.4 ) $ 4,720.0 LIABILITIES Current Liabilities: Short-Term Debt and Current Portion of Long-Term Debt $ — $ 25.3 $ — $ 36.5 $ — $ 61.8 Accounts Payable — 311.6 5.3 105.1 — 422.0 Intercompany 188.3 — — 893.1 (1,081.4 ) — Other Accrued Liabilities — 180.4 1.9 60.2 — 242.5 Total Current Liabilities 188.3 517.3 7.2 1,094.9 (1,081.4 ) 726.3 Long-Term Debt — 2,127.6 — 85.3 — 2,212.9 Deferred Income Tax Liabilities — 273.9 43.3 28.1 — 345.3 Other Noncurrent Liabilities — 324.3 — 25.3 (0.7 ) 348.9 EQUITY Total Equity 1,086.6 1,274.9 219.6 (252.2 ) (1,242.3 ) 1,086.6 Total Liabilities and Equity $ 1,274.9 $ 4,518.0 $ 270.1 $ 981.4 $ (2,324.4 ) $ 4,720.0 December 31, 2015 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated ASSETS Current Assets: Cash and Cash Equivalents $ — $ 0.1 $ — $ 54.8 $ — $ 54.9 Receivables, Net — 217.0 — 206.9 — 423.9 Inventories, Net — 408.8 — 148.3 — 557.1 Intercompany — 656.4 21.6 — (678.0 ) — Other Current Assets — 19.2 6.3 5.4 — 30.9 Total Current Assets — 1,301.5 27.9 415.4 (678.0 ) 1,066.8 Property, Plant and Equipment, Net — 1,358.0 0.2 228.2 — 1,586.4 Investment in Consolidated Subsidiaries 1,176.8 — 15.2 — (1,192.0 ) — Goodwill — 1,042.8 — 125.0 — 1,167.8 Other Assets — 334.7 — 100.4 — 435.1 Total Assets $ 1,176.8 $ 4,037.0 $ 43.3 $ 869.0 $ (1,870.0 ) $ 4,256.1 LIABILITIES Current Liabilities: Short-Term Debt and Current Portion of Long-Term Debt $ — $ 25.5 $ — $ 11.1 $ — $ 36.6 Accounts Payable — 342.8 — 115.1 — 457.9 Intercompany 75.1 — — 808.8 (883.9 ) — Other Accrued Liabilities — 191.8 — 45.9 — 237.7 Total Current Liabilities 75.1 560.1 — 980.9 (883.9 ) 732.2 Long-Term Debt — 1,761.4 — 77.5 — 1,838.9 Deferred Income Tax Liabilities — 249.2 — 17.5 — 266.7 Other Noncurrent Liabilities — 289.5 — 27.1 — 316.6 EQUITY Total Equity 1,101.7 1,176.8 43.3 (234.0 ) (986.1 ) 1,101.7 Total Liabilities and Equity $ 1,176.8 $ 4,037.0 $ 43.3 $ 869.0 $ (1,870.0 ) $ 4,256.1
Schedule of Guarantor Condensed Consolidating Statements of Cash Flows	Six Months Ended June 30, 2016 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net Income (Loss) $ 135.3 $ 135.3 $ (1.5 ) $ 14.8 $ (148.6 ) $ 135.3 Non-cash Items Included in Net Income (Loss): Depreciation and Amortization — 117.0 5.3 23.6 — 145.9 Deferred Income Taxes — 29.6 1.6 0.6 — 31.8 Amount of Postretirement Expense Greater (Less) Than Funding — 0.7 — (2.8 ) — (2.1 ) Equity in Net Earnings of Subsidiaries (135.3 ) (16.8 ) 3.5 — 148.6 — Other, Net — 25.0 — (0.8 ) — 24.2 Changes in Operating Assets and Liabilities — (51.0 ) (5.3 ) (31.8 ) — (88.1 ) Net Cash Provided by Operating Activities — 239.8 3.6 3.6 — 247.0 CASH FLOWS FROM INVESTING ACTIVITIES: Capital Spending — (147.6 ) — (31.8 ) — (179.4 ) Packaging Machinery Spending — (6.6 ) — — — (6.6 ) Acquisition of Business, Net of Cash Acquired — (169.5 ) (159.4 ) — (328.9 ) Other, Net 122.5 (163.4 ) — — 38.1 (2.8 ) Net Cash Provided by (Used in) Investing Activities 122.5 (487.1 ) — (191.2 ) 38.1 (517.7 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repurchase of Common Stock (79.7 ) — — — — (79.7 ) Payments on Debt — (12.5 ) — — — (12.5 ) Borrowings under Revolving Credit Facilities — 799.7 — 43.6 — 843.3 Payments on Revolving Credit Facilities — (417.2 ) — (37.3 ) — (454.5 ) Dividends Paid (32.4 ) — — — — (32.4 ) Repurchase of Common Stock related to Share-Based Payments (10.4 ) — — — — (10.4 ) Other, Net — (122.8 ) — 160.6 (38.1 ) (0.3 ) Net Cash (Used in) Provided by Financing Activities (122.5 ) 247.2 — 166.9 (38.1 ) 253.5 Effect of Exchange Rate Changes on Cash — — — 1.0 — 1.0 Net (Decrease) Increase in Cash and Cash Equivalents — (0.1 ) 3.6 (19.7 ) — (16.2 ) Cash and Cash Equivalents at Beginning of Period — 0.1 — 54.8 — 54.9 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ — $ 3.6 $ 35.1 $ — $ 38.7 Six Months Ended June 30, 2015 In millions Parent Subsidiary Issuer Combined Guarantor Subsidiaries Combined Nonguarantor Subsidiaries Consolidating Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES: Net Income (Loss) $ 112.7 $ 112.7 $ 0.5 $ 16.2 $ (129.4 ) $ 112.7 Non-cash Items Included in Net Income (Loss): Depreciation and Amortization — 115.2 1.0 23.1 — 139.3 Deferred Income Taxes — 54.4 (0.6 ) 7.9 — 61.7 Amount of Postretirement Expense Less Than Funding — (8.8 ) — (4.8 ) — (13.6 ) Equity in Net Earnings of Subsidiaries (112.7 ) (15.7 ) (1.0 ) — 129.4 — Other, Net — 17.3 — (1.3 ) — 16.0 Changes in Operating Assets and Liabilities — (208.3 ) 0.3 69.2 — (138.8 ) Net Cash Provided By Operating Activities — 66.8 0.2 110.3 — 177.3 CASH FLOWS FROM INVESTING ACTIVITIES: Capital Spending — (97.8 ) (0.2 ) (22.1 ) — (120.1 ) Packaging Machinery Spending — (6.9 ) — — — (6.9 ) Acquisition of Business, Net of Cash Acquired — — — (113.6 ) — (113.6 ) Other, Net 45.5 1.8 — 2.9 (45.5 ) 4.7 Net Cash Provided by (Used in) Investing Activities 45.5 (102.9 ) (0.2 ) (132.8 ) (45.5 ) (235.9 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repurchase of Common Stock (8.0 ) — — — — (8.0 ) Payments on Debt — (12.5 ) — — — (12.5 ) Borrowings under Revolving Credit Facilities — 591.4 — 5.0 — 596.4 Payments on Revolving Credit Facilities — (487.6 ) — (23.7 ) — (511.3 ) Dividends Paid (16.4 ) — — — — (16.4 ) Repurchase of Common Stock related to Share-Based Payments (21.1 ) — — — — (21.1 ) Other, Net — (45.9 ) — — 45.5 (0.4 ) Net Cash (Used in) Provided by Financing Activities (45.5 ) 45.4 — (18.7 ) 45.5 26.7 Effect of Exchange Rate Changes on Cash — — — (2.9 ) — (2.9 ) Net Increase (Decrease) in Cash and Cash Equivalents — 9.3 — (44.1 ) — (34.8 ) Cash and Cash Equivalents at Beginning of Period — 2.0 — 79.6 — 81.6 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ — $ 11.3 $ — $ 35.5 $ — $ 46.8

General Information (Details)

General Information (Details) - USD ($)	May 25, 2016	Feb. 25, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Feb. 04, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Receivables sold and derecognized			$ 623,000,000	$ 488,000,000	$ 623,000,000	$ 488,000,000
Amount collected on behalf of financial institution			560,000,000	342,000,000	560,000,000	342,000,000
Amount funded by financial institution			84,000,000	121,000,000	84,000,000	121,000,000
Amount of deferred proceeds			31,000,000	$ 57,000,000	31,000,000	57,000,000
Receivables sold					19,000,000	$ 98,000,000
Amount transferred subject to continuing involvement			$ 345,000,000		$ 345,000,000		$ 282,000,000
Dividends declared (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.10	$ 0.10
Share repurchase program, authorized amount								$ 250,000,000
Shares repurchased (in shares)					6,555,073	565,026
Shares repurchased, average price (in dollars per share)					$ 12.51	$ 14.16
Stock repurchase program, remaining authorized repurchase amount			$ 105,000,000		$ 105,000,000
Business Combinations [Abstract]
Charges Associated with Business Combinations			5,300,000	$ 3,400,000	10,400,000	$ 4,400,000
Other Special Charges			0	500,000	5,400,000	1,700,000
Business Combinations and Other Special Charges			$ 5,300,000	$ 3,900,000	$ 15,800,000	$ 6,100,000

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished Goods	$ 245	$ 265.5
Work in Progress	68.1	50.4
Raw Materials	196.4	163
Supplies	80.4	78.2
Total Inventories	$ 589.9	$ 557.1

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Millions	Jan. 05, 2016folding_carton_facility	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Number of folding carton facilities acquired | folding_carton_facility	2
Purchase price, net of cash acquired		$ 328.9	$ 113.6
2016 Acquisitions
Business Acquisition [Line Items]
Purchase price		340.3		$ 337.4
Purchase price, net of cash acquired		329
Debt assumed in business combination		$ 31.1		31.1
North American Acquisitions
Business Acquisition [Line Items]
Purchase price				$ 164

Acquisitions - Acquisition Acco

Acquisitions - Acquisition Accounting Allocation (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Amounts Recognized as of Acquisition Date
Goodwill	$ 1,267.8	$ 1,167.8
2016 Acquisitions
Amounts Recognized as of Acquisition Date
Purchase Price	340.3	337.4
Assumed Debt	31.1	31.1
Total Purchase Consideration	371.4	368.5
Cash and Cash Equivalents	11.4	11.4
Receivables, Net	39.1	39.1
Inventories, Net	46.5	44.7
Other Current Assets	3.4	3.4
Property, Plant and Equipment, Net	127.5	106.2
Intangible Assets, Net	132.5	0
Other Assets	9.5	9.5
Total Assets Acquired	369.9	214.3
Current Liabilities	49.6	49.6
Deferred Tax Liabilities	59.9	9
Other Noncurrent Liabilities	0.3	0
Total Liabilities Assumed	109.8	58.6
Net Assets Acquired	260.1	155.7
Goodwill	111.3	212.8
Total Estimated Fair Value of Net Assets Acquired	371.4	$ 368.5
Measurement Period Adjustments
Purchase Price	2.9
Cash and Cash Equivalents	0
Receivables, Net	0
Inventories, Net	1.8
Other Current Assets	0
Property, Plant and Equipment, Net	21.3
Intangible Assets, Net	132.5
Other Assets	0
Total Assets Acquired	155.6
Current Liabilities	0
Deferred Tax Liabilities	50.9
Other Noncurrent Liabilities	0.3
Total Liabilities Assumed	51.2
Net Assets Acquired	104.4
Goodwill	(101.5)
Total Estimated Fair Value of Acquired Net Asset Adjustments	$ 2.9

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term Debt	$ 2,249.1	$ 1,876.6
Capital Lease Obligations	1.5	1.8
Other	4.1	1.8
Total Debt	2,250.6	1,878.4
Less: Current Portion	25.4	25.8
Long-term Debt, Gross and Capital Lease Obligations	2,225.2	1,852.6
Less: Unamortized Deferred Debt Issuance Costs	12.3	13.7
Total Long-Term Debt	2,212.9	1,838.9
Senior Notes | Senior Notes with interest payable semi-annually at 4.875%, effective rate of 4.95%, payable in 2022
Debt Instrument [Line Items]
Long-term Debt	$ 250	$ 250
Stated interest rate	4.875%	4.875%
Effective interest rate	4.95%	4.95%
Senior Notes | Senior Notes with interest payable semi-annually at 4.75%, effective rate of 4.80%, payable in 2021
Debt Instrument [Line Items]
Long-term Debt	$ 425	$ 425
Stated interest rate	4.75%	4.75%
Effective interest rate	4.80%	4.80%
Term Loan
Debt Instrument [Line Items]
Long-term Debt	$ 962.5	$ 975
Effective interest rate	2.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt	$ 607.5	$ 224.8
Interest rate at period end	1.90%

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facilities (Details) $ in Millions	Jun. 30, 2016USD ($)
Line of Credit Facility [Line Items]
Total Commitments	$ 1,449.6
Total Outstanding	617.5
Total Available	805.9
Standby letters of credit issued	26.2
Senior Secured Domestic Revolving Credit Facility
Line of Credit Facility [Line Items]
Total Commitments	1,250
Total Outstanding	527
Total Available	696.8
Senior Secured International Revolving Credit Facility
Line of Credit Facility [Line Items]
Total Commitments	177
Total Outstanding	80.5
Total Available	96.5
Other International Facilities
Line of Credit Facility [Line Items]
Total Commitments	22.6
Total Outstanding	10
Total Available	$ 12.6

Stock Incentive Plans - Additio

Stock Incentive Plans - Additional Information (Details) shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)compensation_planshares	Jun. 30, 2015USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of active equity compensation plans | compensation_plan	1
Recognized share-based compensation expense | $	$ 11.4	$ 11.5
Share-based compensation issued (in shares) | shares	1.6	2.2
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

Stock Incentive Plans - Data Co

Stock Incentive Plans - Data Concerning RSUs Granted (Details)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Employees | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants during period (in shares) | shares	1,878,100
Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 11.19
Director | Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants during period (in shares) | shares	59,880
Weighted Average Grant Date Fair Value Per Share (in dollars per share) | $ / shares	$ 13.36

Pensions and Other Postretire42

Pensions and Other Postretirement Benefits - Pension and Postretirement Expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension Benefits
Components of Net Periodic Cost:
Service Cost	$ 2.4	$ 3.9	$ 4.9	$ 7.7
Interest Cost	11.3	13.6	22.4	27
Administrative Expenses	0.2	0.2	0.5	0.4
Expected Return on Plan Assets	(15.1)	(18.7)	(30.2)	(37.2)
Amortization:
Prior Service Cost (Credit)	0.2	0.1	0.4	0.3
Actuarial Loss (Gain)	7.1	5.6	11.9	11.1
Net Periodic Cost	6.1	4.7	9.9	9.3
Postretirement Health Care Benefits
Components of Net Periodic Cost:
Service Cost	0.2	0.3	0.4	0.5
Interest Cost	0.4	0.5	0.7	0.9
Administrative Expenses	0	0	0	0
Expected Return on Plan Assets	0	0	0	0
Amortization:
Prior Service Cost (Credit)	0	0	(0.1)	(0.1)
Actuarial Loss (Gain)	(0.7)	(0.3)	(1.2)	(0.7)
Net Periodic Cost	$ (0.1)	$ 0.5	$ (0.2)	$ 0.6

Pensions and Other Postretire43

Pensions and Other Postretirement Benefits - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Pension Benefit Plans
Employer Contributions
Company's contributions to its pension plans	$ 11.5	$ 22.6	$ 53.4
Pension Benefit Plans | Minimum
Employer Contributions
Expected contributions	40
Pension Benefit Plans | Maximum
Employer Contributions
Expected contributions	60
Postretirement Health Care Benefits
Employer Contributions
Benefit payments made	0.3	$ 0.9	$ 2.8
Expected benefit payments	$ 3

Financial Instruments and Fai44

Financial Instruments and Fair Value Measurement - Interest Rate Risk (Details) $ in Millions	Jun. 30, 2016USD ($)
Interest Swap Position One
Derivative [Line Items]
Notional amount of derivative	$ 450
Weighted Average Interest Rate	1.00%
Interest Swap Position Two
Derivative [Line Items]
Notional amount of derivative	$ 450
Weighted Average Interest Rate	0.89%
Interest Swap Position Three
Derivative [Line Items]
Notional amount of derivative	$ 250
Weighted Average Interest Rate	1.16%

Financial Instruments and Fai45

Financial Instruments and Fair Value Measurement - Additional Information (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Derivative [Line Items]
Gross derivative liability	$ 8,700,000
Gross derivative asset	800,000
Long-term debt, fair value	2,281,700,000		$ 1,891,200,000
Long-term debt, carrying value	2,249,100,000		1,876,600,000
Anticipated reclassification of loss to earnings in the next twelve months	7,300,000
Derivative Contracts Designated as Hedging Instruments | Instruments in a Cash Flow Hedging Relationship | Interest Rate Swap
Derivative [Line Items]
Amounts excluded from the measure of effectiveness	0	$ 0
Amount of ineffectiveness related to changes in the fair value of derivatives	0	0
Derivative Contracts Designated as Hedging Instruments | Instruments in a Cash Flow Hedging Relationship | Commodity Contracts
Derivative [Line Items]
Amounts excluded from the measure of effectiveness	$ 0	0
Percentage of expected natural gas usage hedged, current year	67.00%
Percentage of expected natural gas usage hedged, next fiscal year	29.00%
Derivative Contracts Designated as Hedging Instruments | Instruments in a Cash Flow Hedging Relationship | Forward Exchange Contract
Derivative [Line Items]
Amounts excluded from the measure of effectiveness	$ 0	0
Amount of ineffectiveness related to changes in the fair value of derivatives	0	0
Notional amount of derivative	30,200,000		$ 65,200,000
Amounts forecasted and reclassified into earnings no longer probable	$ 0	$ 0
Derivative Contracts Not Designated as Hedging Instruments | Maximum
Derivative [Line Items]
Foreign currency forward exchange contract, term	3 months		3 months
Derivative Contracts Not Designated as Hedging Instruments | Forward Exchange Contract
Derivative [Line Items]
Notional amount of derivative	$ 65,700,000		$ 45,500,000

Financial Instruments and Fai46

Financial Instruments and Fair Value Measurement - Pretax Derivative Accumulated Other Comprehensive Loss (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Cumulative Changes in Derivative Net Gain (Loss) [Roll Forward]
Beginning balance	$ (13.5)
Reclassification to Earnings	8.3
Current Period Change in Fair Value	(3.6)
Ending balance	$ (8.8)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Expense	$ (10.1)	$ (35.1)	$ (43.3)	$ (68.7)
Income (Loss) before Income Taxes and Equity Income of Unconsolidated Entities	87.4	$ 92.4	177.7	$ 180.8
Discrete tax benefit, reduction of long-term deferred tax liability	22.4
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	470		470
Minimum
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	245		245
Maximum
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 295		$ 295

Segment Information - Additiona

Segment Information - Additional Disclosures (Details)	6 Months Ended
	Jun. 30, 2016segmentpaperboard_mill
Segment Reporting [Abstract]
Number of reportable segments | segment	3
Number of North American paperboard mills | paperboard_mill	7

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net Sales	$ 1,103.2	$ 1,057.1	$ 2,137.2	$ 2,065.3
Income (Loss) from Operations	105.6	110.2	212.8	215.5
Depreciation and Amortization	75.2	71.2	145.9	139.3
Corporate/Other/Eliminations
Segment Reporting Information [Line Items]
Net Sales	10	9.4	13.4	15.5
Income (Loss) from Operations	(7.3)	(5.1)	(22.3)	(6.6)
Depreciation and Amortization	1.7	1.7	3.5	3.4
Paperboard Mills | Operating Segments
Segment Reporting Information [Line Items]
Net Sales	97.2	124.3	198.3	227.7
Income (Loss) from Operations	0.7	3.3	(1.5)	0.4
Depreciation and Amortization	29.6	30.4	60.7	60.2
Americas Paperboard Packaging | Operating Segments
Segment Reporting Information [Line Items]
Net Sales	847.1	769.1	1,632.3	1,523.1
Income (Loss) from Operations	102.9	98.8	218.2	199.5
Depreciation and Amortization	33.4	27.5	61.1	52.8
Europe Paperboard Packaging | Operating Segments
Segment Reporting Information [Line Items]
Net Sales	148.9	154.3	293.2	299
Income (Loss) from Operations	9.3	13.2	18.4	22.2
Depreciation and Amortization	$ 10.5	$ 11.6	$ 20.6	$ 22.9

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Net Income	$ 77.8	$ 57.6	$ 135.3	$ 112.7
Weighted Average Shares:
Basic (shares)	322.1	330.2	323.3	329.9
Dilutive effect of RSUs and Stock Awards (shares)	0.4	0.7	0.8	1
Diluted (shares)	322.5	330.9	324.1	330.9
Income Per Share - Basic (in dollars per share)	$ 0.24	$ 0.17	$ 0.42	$ 0.34
Income Per Share - Diluted (in dollars per share)	$ 0.24	$ 0.17	$ 0.42	$ 0.34

Equity (Details)

Equity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 1,101.7
Net Income	$ 77.8	$ 57.6	135.3	$ 112.7
Other Comprehensive Income, Net of Tax	(43.8)	$ 31.1	(37.2)	$ 14.7
Dividends Declared			(32.2)
Repurchase of Common Stock			(82)
Compensation Expense Under Share-Based Plans			11.4
Repurchase of Common Stock related to Share-Based Payments			(10.4)
Ending balance	$ 1,086.6		$ 1,086.6

Other Comprehensive (Loss) In52

Other Comprehensive (Loss) Income - Schedule of Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ (345.7)
Other Comprehensive Loss before Reclassifications			(49.2)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)			12
Total Other Comprehensive (Loss) Income, Net of Tax	$ (43.8)	$ 31.1	(37.2)	$ 14.7
Ending balance	(382.9)		(382.9)
Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(18.4)
Other Comprehensive Loss before Reclassifications			(2.1)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)			5.1
Total Other Comprehensive (Loss) Income, Net of Tax			3
Ending balance	(15.4)		(15.4)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(87.8)
Other Comprehensive Loss before Reclassifications			(19.5)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)			0
Total Other Comprehensive (Loss) Income, Net of Tax			(19.5)
Ending balance	(107.3)		(107.3)
Pension and Postretirement Benefit Plans | Pension Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(255.4)
Other Comprehensive Loss before Reclassifications			(26.7)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)			7.7
Total Other Comprehensive (Loss) Income, Net of Tax			(19)
Ending balance	(274.4)		(274.4)
Pension and Postretirement Benefit Plans | Postretirement Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			15.9
Other Comprehensive Loss before Reclassifications			(0.9)
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)			(0.8)
Total Other Comprehensive (Loss) Income, Net of Tax			(1.7)
Ending balance	$ 14.2		$ 14.2

Other Comprehensive (Loss) In53

Other Comprehensive (Loss) Income - Reclassifications Out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of Sales	$ 898.4	$ 859.1	$ 1,724.7	$ 1,677.7
Other Expense (Income), Net	1.2	(4.8)	2.1	(8.1)
Income before Income Taxes and Equity Income of Unconsolidated Entities	(87.4)	(92.4)	(177.7)	(180.8)
Income Tax Expense	10.1	35.1	43.3	68.7
(Loss) Income before Equity Income of Unconsolidated Entities	$ (77.3)	$ (57.3)	(134.4)	$ (112.1)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
(Loss) Income before Equity Income of Unconsolidated Entities			12
Reclassification out of Accumulated Other Comprehensive Income | Derivative Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before Income Taxes and Equity Income of Unconsolidated Entities			8.3
Income Tax Expense			(3.2)
(Loss) Income before Equity Income of Unconsolidated Entities			5.1
Reclassification out of Accumulated Other Comprehensive Income | Derivative Instruments | Commodity Contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of Sales			8
Reclassification out of Accumulated Other Comprehensive Income | Derivative Instruments | Foreign Currency Contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other Expense (Income), Net			(0.8)
Reclassification out of Accumulated Other Comprehensive Income | Derivative Instruments | Interest Rate Swap Agreements
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Expense, Net			1.1
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment | Pension Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior Service Costs (Credits)			0.4
Actuarial (Losses) Gains			11.9
Income before Income Taxes and Equity Income of Unconsolidated Entities			12.3
Income Tax Expense			(4.6)
(Loss) Income before Equity Income of Unconsolidated Entities			7.7
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment | Postretirement Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior Service Costs (Credits)			(0.1)
Actuarial (Losses) Gains			(1.2)
Income before Income Taxes and Equity Income of Unconsolidated Entities			(1.3)
Income Tax Expense			0.5
(Loss) Income before Equity Income of Unconsolidated Entities			$ (0.8)

Guarantor Condensed Consolida54

Guarantor Condensed Consolidating Financial Statements - Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Financial Statements, Captions [Line Items]
Parent's ownership percentage	100.00%		100.00%
Net Sales	$ 1,103.2	$ 1,057.1	$ 2,137.2	$ 2,065.3
Cost of Sales	898.4	859.1	1,724.7	1,677.7
Selling, General and Administrative	92.7	88.7	181.8	174.1
Other Income, Net	1.2	(4.8)	2.1	(8.1)
Business Combinations and Other Special Charges	5.3	3.9	15.8	6.1
Income from Operations	105.6	110.2	212.8	215.5
Interest Expense, Net	(18.2)	(17.8)	(35.1)	(34.7)
Income before Income Taxes and Equity Income of Unconsolidated Entity	87.4	92.4	177.7	180.8
Income Tax (Expense) Benefit	(10.1)	(35.1)	(43.3)	(68.7)
Income before Equity Income of Unconsolidated Entity	77.3	57.3	134.4	112.1
Equity Income of Unconsolidated Entity	0.5	0.3	0.9	0.6
Equity in Net Income (Loss) of Subsidiaries	0	0	0	0
Net Income (Loss)	77.8	57.6	135.3	112.7
Comprehensive Income (Loss)	34	88.7	98.1	127.4
Reportable Legal Entities | Parent
Condensed Financial Statements, Captions [Line Items]
Net Sales	0	0	0	0
Cost of Sales	0	0	0	0
Selling, General and Administrative	0	0	0	0
Other Income, Net	0	0	0	0
Business Combinations and Other Special Charges	0	0	0	0
Income from Operations	0	0	0	0
Interest Expense, Net	0	0	0	0
Income before Income Taxes and Equity Income of Unconsolidated Entity	0	0	0	0
Income Tax (Expense) Benefit	0	0	0	0
Income before Equity Income of Unconsolidated Entity	0	0	0	0
Equity Income of Unconsolidated Entity	0	0	0	0
Equity in Net Income (Loss) of Subsidiaries	77.8	57.6	135.3	112.7
Net Income (Loss)	77.8	57.6	135.3	112.7
Comprehensive Income (Loss)	34	88.7	98.1	127.4
Reportable Legal Entities | Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net Sales	874.2	856.4	1,740.2	1,690.7
Cost of Sales	709.7	696.9	1,401.1	1,374.2
Selling, General and Administrative	69.4	67.2	139.5	134.3
Other Income, Net	(1)	(4)	(2.6)	(7.4)
Business Combinations and Other Special Charges	4	0.5	14.5	1.7
Income from Operations	92.1	95.8	187.7	187.9
Interest Expense, Net	(17.2)	(16.9)	(33.1)	(32.9)
Income before Income Taxes and Equity Income of Unconsolidated Entity	74.9	78.9	154.6	155
Income Tax (Expense) Benefit	(4.5)	(29.6)	(36.1)	(58)
Income before Equity Income of Unconsolidated Entity	70.4	49.3	118.5	97
Equity Income of Unconsolidated Entity	0	0	0	0
Equity in Net Income (Loss) of Subsidiaries	7.4	8.3	16.8	15.7
Net Income (Loss)	77.8	57.6	135.3	112.7
Comprehensive Income (Loss)	34	88.7	98.1	127.4
Reportable Legal Entities | Combined Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net Sales	29.2	0.5	45.3	0.8
Cost of Sales	25.2	(0.2)	37.9	(0.5)
Selling, General and Administrative	3	0.1	3.7	2.2
Other Income, Net	0	0	0	0
Business Combinations and Other Special Charges	0	0	0	0
Income from Operations	1	0.6	3.7	(0.9)
Interest Expense, Net	0	0	0	0
Income before Income Taxes and Equity Income of Unconsolidated Entity	1	0.6	3.7	(0.9)
Income Tax (Expense) Benefit	(0.6)	0.4	(1.7)	0.4
Income before Equity Income of Unconsolidated Entity	0.4	1	2	(0.5)
Equity Income of Unconsolidated Entity	0	0	0	0
Equity in Net Income (Loss) of Subsidiaries	(0.9)	(0.7)	(3.5)	1
Net Income (Loss)	(0.5)	0.3	(1.5)	0.5
Comprehensive Income (Loss)	(2.4)	(0.5)	(3.4)	(1.4)
Reportable Legal Entities | Combined Nonguarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net Sales	271.4	267.6	502.7	501.3
Cost of Sales	235.1	229.8	436.7	431.5
Selling, General and Administrative	20.3	21.4	38.6	37.6
Other Income, Net	2.2	(0.8)	4.7	(0.7)
Business Combinations and Other Special Charges	1.3	3.4	1.3	4.4
Income from Operations	12.5	13.8	21.4	28.5
Interest Expense, Net	(1)	(0.9)	(2)	(1.8)
Income before Income Taxes and Equity Income of Unconsolidated Entity	11.5	12.9	19.4	26.7
Income Tax (Expense) Benefit	(5)	(5.9)	(5.5)	(11.1)
Income before Equity Income of Unconsolidated Entity	6.5	7	13.9	15.6
Equity Income of Unconsolidated Entity	0.5	0.3	0.9	0.6
Equity in Net Income (Loss) of Subsidiaries	0	0	0	0
Net Income (Loss)	7	7.3	14.8	16.2
Comprehensive Income (Loss)	(31.2)	37.3	(18.2)	13.6
Consolidating Eliminations
Condensed Financial Statements, Captions [Line Items]
Net Sales	(71.6)	(67.4)	(151)	(127.5)
Cost of Sales	(71.6)	(67.4)	(151)	(127.5)
Selling, General and Administrative	0	0	0	0
Other Income, Net	0	0	0	0
Business Combinations and Other Special Charges	0	0	0	0
Income from Operations	0	0	0	0
Interest Expense, Net	0	0	0	0
Income before Income Taxes and Equity Income of Unconsolidated Entity	0	0	0	0
Income Tax (Expense) Benefit	0	0	0	0
Income before Equity Income of Unconsolidated Entity	0	0	0	0
Equity Income of Unconsolidated Entity	0	0	0	0
Equity in Net Income (Loss) of Subsidiaries	(84.3)	(65.2)	(148.6)	(129.4)
Net Income (Loss)	(84.3)	(65.2)	(148.6)	(129.4)
Comprehensive Income (Loss)	$ (0.4)	$ (125.5)	$ (76.5)	$ (139.6)

Guarantor Condensed Consolida55

Guarantor Condensed Consolidating Financial Statements - Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and Cash Equivalents	$ 38.7	$ 54.9	$ 46.8	$ 81.6
Receivables, Net	501.2	423.9
Inventories, Net	589.9	557.1
Intercompany	0	0
Other Current Assets	39.2	30.9
Total Current Assets	1,169	1,066.8
Property, Plant and Equipment, Net	1,746.9	1,586.4
Investment in Consolidated Subsidiaries	0	0
Goodwill	1,267.8	1,167.8
Other Assets	536.3	435.1
Total Assets	4,720	4,256.1
Current Liabilities:
Short-Term Debt and Current Portion of Long-Term Debt	61.8	36.6
Accounts Payable	422	457.9
Intercompany	0	0
Other Accrued Liabilities	242.5	237.7
Total Current Liabilities	726.3	732.2
Long-Term Debt	2,212.9	1,838.9
Deferred Income Tax Liabilities	345.3	266.7
Other Noncurrent Liabilities	348.9	316.6
EQUITY
Total Equity	1,086.6	1,101.7
Total Liabilities and Shareholders' Equity	4,720	4,256.1
Reportable Legal Entities | Parent
Current Assets:
Cash and Cash Equivalents	0	0	0	0
Receivables, Net	0	0
Inventories, Net	0	0
Intercompany	0	0
Other Current Assets	0	0
Total Current Assets	0	0
Property, Plant and Equipment, Net	0	0
Investment in Consolidated Subsidiaries	1,274.9	1,176.8
Goodwill	0	0
Other Assets	0	0
Total Assets	1,274.9	1,176.8
Current Liabilities:
Short-Term Debt and Current Portion of Long-Term Debt	0	0
Accounts Payable	0	0
Intercompany	188.3	75.1
Other Accrued Liabilities	0	0
Total Current Liabilities	188.3	75.1
Long-Term Debt	0	0
Deferred Income Tax Liabilities	0	0
Other Noncurrent Liabilities	0	0
EQUITY
Total Equity	1,086.6	1,101.7
Total Liabilities and Shareholders' Equity	1,274.9	1,176.8
Reportable Legal Entities | Subsidiary Issuer
Current Assets:
Cash and Cash Equivalents	0	0.1	11.3	2
Receivables, Net	237.9	217
Inventories, Net	399.7	408.8
Intercompany	988.8	656.4
Other Current Assets	26.1	19.2
Total Current Assets	1,652.5	1,301.5
Property, Plant and Equipment, Net	1,422.8	1,358
Investment in Consolidated Subsidiaries	0	0
Goodwill	1,089.8	1,042.8
Other Assets	352.9	334.7
Total Assets	4,518	4,037
Current Liabilities:
Short-Term Debt and Current Portion of Long-Term Debt	25.3	25.5
Accounts Payable	311.6	342.8
Intercompany	0	0
Other Accrued Liabilities	180.4	191.8
Total Current Liabilities	517.3	560.1
Long-Term Debt	2,127.6	1,761.4
Deferred Income Tax Liabilities	273.9	249.2
Other Noncurrent Liabilities	324.3	289.5
EQUITY
Total Equity	1,274.9	1,176.8
Total Liabilities and Shareholders' Equity	4,518	4,037
Reportable Legal Entities | Combined Guarantor Subsidiaries
Current Assets:
Cash and Cash Equivalents	3.6	0	0	0
Receivables, Net	6.2	0
Inventories, Net	12.4	0
Intercompany	45.4	21.6
Other Current Assets	0	6.3
Total Current Assets	67.6	27.9
Property, Plant and Equipment, Net	64.5	0.2
Investment in Consolidated Subsidiaries	14.6	15.2
Goodwill	52.9	0
Other Assets	70.5	0
Total Assets	270.1	43.3
Current Liabilities:
Short-Term Debt and Current Portion of Long-Term Debt	0	0
Accounts Payable	5.3	0
Intercompany	0	0
Other Accrued Liabilities	1.9	0
Total Current Liabilities	7.2	0
Long-Term Debt	0	0
Deferred Income Tax Liabilities	43.3	0
Other Noncurrent Liabilities	0	0
EQUITY
Total Equity	219.6	43.3
Total Liabilities and Shareholders' Equity	270.1	43.3
Reportable Legal Entities | Combined Nonguarantor Subsidiaries
Current Assets:
Cash and Cash Equivalents	35.1	54.8	35.5	79.6
Receivables, Net	257.1	206.9
Inventories, Net	177.8	148.3
Intercompany	0	0
Other Current Assets	13.1	5.4
Total Current Assets	483.1	415.4
Property, Plant and Equipment, Net	259.6	228.2
Investment in Consolidated Subsidiaries	0	0
Goodwill	125.1	125
Other Assets	113.6	100.4
Total Assets	981.4	869
Current Liabilities:
Short-Term Debt and Current Portion of Long-Term Debt	36.5	11.1
Accounts Payable	105.1	115.1
Intercompany	893.1	808.8
Other Accrued Liabilities	60.2	45.9
Total Current Liabilities	1,094.9	980.9
Long-Term Debt	85.3	77.5
Deferred Income Tax Liabilities	28.1	17.5
Other Noncurrent Liabilities	25.3	27.1
EQUITY
Total Equity	(252.2)	(234)
Total Liabilities and Shareholders' Equity	981.4	869
Consolidating Eliminations
Current Assets:
Cash and Cash Equivalents	0	0	$ 0	$ 0
Receivables, Net	0	0
Inventories, Net	0	0
Intercompany	(1,034.2)	(678)
Other Current Assets	0	0
Total Current Assets	(1,034.2)	(678)
Property, Plant and Equipment, Net	0	0
Investment in Consolidated Subsidiaries	(1,289.5)	(1,192)
Goodwill	0	0
Other Assets	(0.7)	0
Total Assets	(2,324.4)	(1,870)
Current Liabilities:
Short-Term Debt and Current Portion of Long-Term Debt	0	0
Accounts Payable	0	0
Intercompany	(1,081.4)	(883.9)
Other Accrued Liabilities	0	0
Total Current Liabilities	(1,081.4)	(883.9)
Long-Term Debt	0	0
Deferred Income Tax Liabilities	0	0
Other Noncurrent Liabilities	(0.7)	0
EQUITY
Total Equity	(1,242.3)	(986.1)
Total Liabilities and Shareholders' Equity	$ (2,324.4)	$ (1,870)

Guarantor Condensed Consolida56

Guarantor Condensed Consolidating Financial Statements - Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 77.8	$ 57.6	$ 135.3	$ 112.7
Non-cash Items Included in Net Income:
Depreciation and Amortization	75.2	71.2	145.9	139.3
Deferred Income Taxes			31.8	61.7
Amount of Postretirement Expense Greater (Less) Than Funding			(2.1)	(13.6)
Equity in Net Income (Loss) of Subsidiaries	0	0	0	0
Other, Net			24.2	16
Changes in Operating Assets and Liabilities			(88.1)	(138.8)
Net Cash Provided by Operating Activities			247	177.3
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Spending			(179.4)	(120.1)
Packaging Machinery Spending			(6.6)	(6.9)
Acquisition of Businesses, Net of Cash Acquired			(328.9)	(113.6)
Other, Net			(2.8)	4.7
Net Cash Provided by (Used in) Investing Activities			(517.7)	(235.9)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of Common Stock			(79.7)	(8)
Payments on Debt			(12.5)	(12.5)
Borrowings under Revolving Credit Facilities			843.3	596.4
Payments on Revolving Credit Facilities			(454.5)	(511.3)
Dividends Paid			(32.4)	(16.4)
Repurchase of Common Stock related to Share-Based Payments			(10.4)	(21.1)
Other, Net			(0.3)	(0.4)
Net Cash (Used in) Provided by Financing Activities			253.5	26.7
Effect of Exchange Rate Changes on Cash			1	(2.9)
Net (Decrease) Increase in Cash and Cash Equivalents			(16.2)	(34.8)
Cash and Cash Equivalents at Beginning of Period			54.9	81.6
CASH AND CASH EQUIVALENTS AT END OF PERIOD	38.7	46.8	38.7	46.8
Reportable Legal Entities | Parent
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	77.8	57.6	135.3	112.7
Non-cash Items Included in Net Income:
Depreciation and Amortization			0	0
Deferred Income Taxes			0	0
Amount of Postretirement Expense Greater (Less) Than Funding			0	0
Equity in Net Income (Loss) of Subsidiaries	(77.8)	(57.6)	(135.3)	(112.7)
Other, Net			0	0
Changes in Operating Assets and Liabilities			0	0
Net Cash Provided by Operating Activities			0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Spending			0	0
Packaging Machinery Spending			0	0
Acquisition of Businesses, Net of Cash Acquired			0	0
Other, Net			122.5	45.5
Net Cash Provided by (Used in) Investing Activities			122.5	45.5
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of Common Stock			(79.7)	(8)
Payments on Debt			0	0
Borrowings under Revolving Credit Facilities			0	0
Payments on Revolving Credit Facilities			0	0
Dividends Paid			(32.4)	(16.4)
Repurchase of Common Stock related to Share-Based Payments			(10.4)	(21.1)
Other, Net			0	0
Net Cash (Used in) Provided by Financing Activities			(122.5)	(45.5)
Effect of Exchange Rate Changes on Cash			0	0
Net (Decrease) Increase in Cash and Cash Equivalents			0	0
Cash and Cash Equivalents at Beginning of Period			0	0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	0	0	0	0
Reportable Legal Entities | Subsidiary Issuer
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	77.8	57.6	135.3	112.7
Non-cash Items Included in Net Income:
Depreciation and Amortization			117	115.2
Deferred Income Taxes			29.6	54.4
Amount of Postretirement Expense Greater (Less) Than Funding			0.7	(8.8)
Equity in Net Income (Loss) of Subsidiaries	(7.4)	(8.3)	(16.8)	(15.7)
Other, Net			25	17.3
Changes in Operating Assets and Liabilities			(51)	(208.3)
Net Cash Provided by Operating Activities			239.8	66.8
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Spending			(147.6)	(97.8)
Packaging Machinery Spending			(6.6)	(6.9)
Acquisition of Businesses, Net of Cash Acquired			(169.5)	0
Other, Net			(163.4)	1.8
Net Cash Provided by (Used in) Investing Activities			(487.1)	(102.9)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of Common Stock			0	0
Payments on Debt			(12.5)	(12.5)
Borrowings under Revolving Credit Facilities			799.7	591.4
Payments on Revolving Credit Facilities			(417.2)	(487.6)
Dividends Paid			0	0
Repurchase of Common Stock related to Share-Based Payments			0	0
Other, Net			(122.8)	(45.9)
Net Cash (Used in) Provided by Financing Activities			247.2	45.4
Effect of Exchange Rate Changes on Cash			0	0
Net (Decrease) Increase in Cash and Cash Equivalents			(0.1)	9.3
Cash and Cash Equivalents at Beginning of Period			0.1	2
CASH AND CASH EQUIVALENTS AT END OF PERIOD	0	11.3	0	11.3
Reportable Legal Entities | Combined Guarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	(0.5)	0.3	(1.5)	0.5
Non-cash Items Included in Net Income:
Depreciation and Amortization			5.3	1
Deferred Income Taxes			1.6	(0.6)
Amount of Postretirement Expense Greater (Less) Than Funding			0	0
Equity in Net Income (Loss) of Subsidiaries	0.9	0.7	3.5	(1)
Other, Net			0	0
Changes in Operating Assets and Liabilities			(5.3)	0.3
Net Cash Provided by Operating Activities			3.6	0.2
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Spending			0	(0.2)
Packaging Machinery Spending			0	0
Acquisition of Businesses, Net of Cash Acquired				0
Other, Net			0	0
Net Cash Provided by (Used in) Investing Activities			0	(0.2)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of Common Stock			0	0
Payments on Debt			0	0
Borrowings under Revolving Credit Facilities			0	0
Payments on Revolving Credit Facilities			0	0
Dividends Paid			0	0
Repurchase of Common Stock related to Share-Based Payments			0	0
Other, Net			0	0
Net Cash (Used in) Provided by Financing Activities			0	0
Effect of Exchange Rate Changes on Cash			0	0
Net (Decrease) Increase in Cash and Cash Equivalents			3.6	0
Cash and Cash Equivalents at Beginning of Period			0	0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	3.6	0	3.6	0
Reportable Legal Entities | Combined Nonguarantor Subsidiaries
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	7	7.3	14.8	16.2
Non-cash Items Included in Net Income:
Depreciation and Amortization			23.6	23.1
Deferred Income Taxes			0.6	7.9
Amount of Postretirement Expense Greater (Less) Than Funding			(2.8)	(4.8)
Equity in Net Income (Loss) of Subsidiaries	0	0	0	0
Other, Net			(0.8)	(1.3)
Changes in Operating Assets and Liabilities			(31.8)	69.2
Net Cash Provided by Operating Activities			3.6	110.3
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Spending			(31.8)	(22.1)
Packaging Machinery Spending			0	0
Acquisition of Businesses, Net of Cash Acquired			(159.4)	(113.6)
Other, Net			0	2.9
Net Cash Provided by (Used in) Investing Activities			(191.2)	(132.8)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of Common Stock			0	0
Payments on Debt			0	0
Borrowings under Revolving Credit Facilities			43.6	5
Payments on Revolving Credit Facilities			(37.3)	(23.7)
Dividends Paid			0	0
Repurchase of Common Stock related to Share-Based Payments			0	0
Other, Net			160.6	0
Net Cash (Used in) Provided by Financing Activities			166.9	(18.7)
Effect of Exchange Rate Changes on Cash			1	(2.9)
Net (Decrease) Increase in Cash and Cash Equivalents			(19.7)	(44.1)
Cash and Cash Equivalents at Beginning of Period			54.8	79.6
CASH AND CASH EQUIVALENTS AT END OF PERIOD	35.1	35.5	35.1	35.5
Consolidating Eliminations
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	(84.3)	(65.2)	(148.6)	(129.4)
Non-cash Items Included in Net Income:
Depreciation and Amortization			0	0
Deferred Income Taxes			0	0
Amount of Postretirement Expense Greater (Less) Than Funding			0	0
Equity in Net Income (Loss) of Subsidiaries	84.3	65.2	148.6	129.4
Other, Net			0	0
Changes in Operating Assets and Liabilities			0	0
Net Cash Provided by Operating Activities			0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Spending			0	0
Packaging Machinery Spending			0	0
Acquisition of Businesses, Net of Cash Acquired			0	0
Other, Net			38.1	(45.5)
Net Cash Provided by (Used in) Investing Activities			38.1	(45.5)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of Common Stock			0	0
Payments on Debt			0	0
Borrowings under Revolving Credit Facilities			0	0
Payments on Revolving Credit Facilities			0	0
Dividends Paid			0	0
Repurchase of Common Stock related to Share-Based Payments			0	0
Other, Net			(38.1)	45.5
Net Cash (Used in) Provided by Financing Activities			(38.1)	45.5
Effect of Exchange Rate Changes on Cash			0	0
Net (Decrease) Increase in Cash and Cash Equivalents			0	0
Cash and Cash Equivalents at Beginning of Period			0	0
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 0	$ 0	$ 0	$ 0