Veritiv (VRTV) 10-Q 13 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 10, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	VERITIV CORPORATION
Entity Central Index Key	1,599,489
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		16,000,100

Condensed Consolidated and Comb

Condensed Consolidated and Combined Statements of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Net sales (including sales to related parties of $8.0, $12.3, $17.0 and $24.3, respectively)	$ 2,159.3	$ 1,329	$ 4,297.2	$ 2,636.4
Cost of products sold (including purchases from related parties of $67.1, $136.5, $136.5 and $276.5, respectively) (exclusive of depreciation and amortization shown separately below)	1,768.3	1,116.7	3,530.2	2,205.2
Distribution expenses	129.5	72	260.2	149.1
Selling and administrative expenses	218	129.9	428.6	258.5
Depreciation and amortization	15.3	4.3	28.8	8.9
Merger and integration expenses	10.3	2.1	20.3	2.1
Restructuring charges (income)	2.2	(0.9)	5.6	(1.1)
Operating income	15.7	4.9	23.5	13.7
Interest expense, net	6.4	0	12.8	0
Other expense (income), net	(1.5)	(0.1)	2	(0.6)
Income from continuing operations before income taxes	10.8	5	8.7	14.3
Income tax expense	6.5	2.1	6.6	5.8
Income from continuing operations	4.3	2.9	2.1	8.5
Loss from discontinued operations, net of income taxes	0	0	0	(0.1)
Net income	$ 4.3	$ 2.9	$ 2.1	$ 8.4
Earnings (loss) per share: Basic and Diluted
Continuing operations (in dollars per share)	$ 0.27	$ 0.36	$ 0.13	$ 1.04
Discontinued operations (in dollars per share)	0	0	0	(0.01)
Basic and diluted earnings per share (in dollars per share)	$ 0.27	$ 0.36	$ 0.13	$ 1.03
Weighted-average shares outstanding - basic and diluted (in shares)	16,000	8,160	16,000	8,160

Condensed Consolidated and Com3

Condensed Consolidated and Combined Statements of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Related party sales	$ 8	$ 12.3	$ 17	$ 24.3
Related party cost of products sold	$ 67.1	$ 136.5	$ 136.5	$ 276.5

Condensed Consolidated and Com4

Condensed Consolidated and Combined Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 4.3	$ 2.9	$ 2.1	$ 8.4
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	0.1	0	(6.5)	0.6
Other comprehensive income (loss)	0.1	0	(6.5)	0.6
Total comprehensive income (loss)	$ 4.4	$ 2.9	$ (4.4)	$ 9

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash	$ 79.4	$ 57.6
Accounts receivable, less allowances of $42.1 and $39.0, respectively	1,017.5	1,115.1
Related party receivable	4.2	3.9
Inventories	711.5	673.2
Other current assets	115.9	109.3
Total current assets	1,928.5	1,959.1
Property and equipment, net	377.2	377.4
Goodwill	52.1	52.4
Other intangibles, net	32.1	36.1
Non-current deferred income tax assets	100.8	105.6
Other non-current assets	40.1	43.9
Total assets	2,530.8	2,574.5
Current liabilities:
Accounts payable	618.8	589.8
Related party payable	13.6	11
Accrued payroll and benefits	106	111.1
Deferred income tax liabilities	20.8	21.1
Other accrued liabilities	98.2	100.5
Current maturities of long-term debt	3.5	3.8
Financing obligations to related party, current portion	14.3	13.8
Total current liabilities	875.2	851.1
Long-term debt, net of current maturities	798.1	855
Financing obligations to related party, less current portion	205.2	212.4
Defined benefit pension obligations	32.3	36.3
Other non-current liabilities	109.9	107.2
Total liabilities	$ 2,020.7	$ 2,062
Commitments and contingencies
Shareholders' equity:
Preferred stock, $0.01 par value, 10.0 million shares authorized, none issued	$ 0	$ 0
Common stock, $0.01 par value, 100.0 million shares authorized, 16.0 million shares issued and outstanding	0.2	0.2
Additional paid-in capital	564.4	562.4
Accumulated deficit	(25.9)	(28)
Accumulated other comprehensive loss	(28.6)	(22.1)
Total shareholders' equity	510.1	512.5
Total liabilities and equity	$ 2,530.8	$ 2,574.5

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 42.1	$ 39
Preferred stock par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in Shares)	10,000,000	10,000,000
Preferred stock, shares issued (in Shares)	0	0
Common stock par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in Shares)	100,000,000	100,000,000
Common stock, shares issued (in Shares)	16,000,000	16,000,000
Common stock shares outstanding (in shares)	16,000,000	16,000,000

Condensed Consolidated and Com7

Condensed Consolidated and Combined Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 2.1	$ 8.4
Loss from discontinued operations, net of income taxes	0	(0.1)
Income from continuing operations	2.1	8.5
Depreciation and amortization	28.8	8.9
Amortization of deferred financing fees	2.2	0
Net losses (gains) on sales of fixed assets	0.5	(1.5)
Provision for allowance for doubtful accounts	5.8	4
Deferred income tax provision	5.5	1.5
Stock-based compensation	1.9	4.3
Other non-cash items, net	2.1	0
Changes in operating assets and liabilities
Accounts receivable and related party receivable	84.6	19.5
Inventories	(44.2)	(4.4)
Accounts payable and related party payable	53.1	(2.7)
Accrued payroll and benefits	(6.3)	0.6
Other	(11.7)	(0.7)
Net cash provided by operating activities – continuing operations	124.4	38
Net cash used for operating activities – discontinued operations	0	(1.1)
Net cash provided by operating activities	124.4	36.9
Investing Activities
Property and equipment additions	(22.6)	(1.3)
Proceeds from asset sales	0.2	4.8
Other	0	0.1
Net cash (used for) provided by investing activities	(22.4)	3.6
Financing Activities
Net cash transfers to Parent	0	(37.9)
Change in book overdrafts	(18.5)	(6.1)
Borrowings of long-term debt	2,292.8	0
Repayments of long-term debt	(2,346.3)	0
Payments under equipment capital lease obligations	(2)	0
Payments under financing obligations to related party	(6.8)	0
Net cash used for financing activities – continuing operations	(80.8)	(44)
Net cash provided by financing activities – discontinued operations	0	1.1
Net cash used for financing activities	(80.8)	(42.9)
Effect of exchange rate changes on cash	0.6	0.6
Net change in cash	21.8	(1.8)
Cash at beginning of period	57.6	5.7
Cash at end of period	79.4	3.9
Supplemental Cash Flow Information
Cash paid for income taxes, net of refunds	1.1	0.4
Cash paid for interest	10.5	0
Non-Cash Investing Activities
Non-cash additions to property and equipment	$ 5	$ 0

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Summary of Significant Accounting Policies	1. BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Veritiv Corporation ("Veritiv" or the "Company") is a North American business-to-business distributor of print, publishing, packaging, facility and logistics solutions. Established in 2014 following the merger of International Paper Company’s ("International Paper" or "Parent") xpedx division ("xpedx") and UWW Holdings, Inc. ("UWWH"), the parent company of Unisource Worldwide, Inc. ("Unisource"), the Company operates from more than 180 distribution centers primarily throughout the U.S., Canada and Mexico. On July 1, 2014 (the "Distribution Date"), International Paper completed the previously announced spin-off of xpedx to its shareholders (the "Spin-off"), forming a new public company called Veritiv. Immediately following the Spin-off, UWWH merged with and into Veritiv (the "Merger"). Veritiv’s common stock began regular-way trading on the New York Stock Exchange on July 2, 2014 under the ticker symbol VRTV. Basis of Presentation The accompanying unaudited Condensed Consolidated and Combined Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for a complete set of annual audited financial statements. The accompanying unaudited financial information should be read in conjunction with the Consolidated and Combined Financial Statements and Notes contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") for the year ended December 31, 2014. In the opinion of management, all adjustments (consisting of normal recurring accruals and other adjustments) considered necessary for a fair presentation have been included. The operating results for the interim periods are not necessarily indicative of results for the full year. Prior to the Distribution Date, Veritiv’s financial position, results of operations and cash flows consisted of only the xpedx business of International Paper and were derived from International Paper’s historical accounting records. The financial results of xpedx have been presented on a carve-out basis through the Distribution Date, while the financial results for Veritiv, post Spin-off, are prepared on a stand-alone basis. As such, the combined financial statements for the three and six months ended June 30, 2014 consist entirely of the combined results of xpedx on a carve-out basis. All significant intercompany transactions between Veritiv's businesses have been eliminated. All significant intercompany transactions between xpedx and International Paper have been included for the periods prior to the Spin-off and were considered to be effectively settled for cash at the time the transaction was recorded. The total net effect of the settlement of these intercompany transactions is reflected in the Condensed Combined Statement of Cash Flows for the six months ended June 30, 2014 as a financing activity. For periods prior to the Spin-off, the combined financial statements include expense allocations for certain functions previously provided by International Paper, including, but not limited to, general corporate expenses related to finance, legal, information technology, human resources, communications, insurance and stock-based compensation. See Note 6, Related Party Transactions , for further information. Following the Spin-off, certain corporate and other related functions described above continue to be provided by International Paper under a transition services agreement. During the three and six months ended June 30, 2015 , the Company has recognized $3.2 million and $8.8 million , respectively, in selling and administrative expenses related to this agreement. For the six months ended June 30, 2014 , certain amounts in the operating activities section of the Condensed Combined Statement of Cash Flows have been reclassified for comparative purposes to conform to the current year presentation. This reclassification did not have any impact on net cash flows from operations or the Condensed Combined Statement of Income for the three and six months ended June 30, 2014 . Use of Estimates The preparation of unaudited financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses, and certain financial statement disclosures. Estimates and assumptions are used for, but not limited to, revenue recognition, accounts receivable valuation, inventory valuation, employee benefit plans, income tax contingency accruals and valuation allowances and goodwill and other intangible asset valuations. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, actual results may ultimately differ from these estimates and assumptions. Estimates are revised as additional information becomes available. Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers , which requires companies to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration it expects to be entitled to exchange for those goods or services. Entities may use a full retrospective approach or report the cumulative effect as of the date of adoption. In July 2015, the FASB approved a one year deferral of this standard, and this pronouncement is now effective for annual periods beginning after December 15, 2017. Early adoption is permitted, but not before the original effective date of December 15, 2016. The Company is currently evaluating the alternative methods of adoption and the effect on its Consolidated Financial Statements and related disclosures. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance of debt issuance costs are not affected by the amendments in this update. This ASU is effective for annual reporting periods beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The Company adopted this standard during the second quarter of 2015; it did not have any impact to the Consolidated Financial Statements and related disclosures as interpretative guidance related to this ASU has concluded that this ASU does not apply to debt issuance costs associated with revolving debt arrangements. Deferred financing fees related to the Company's asset-based lending facility (the "ABL Facility") remain classified within other non-current assets. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory , which requires companies to measure inventory at the lower of cost and net realizable value, thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. This ASU will not apply to inventories that are measured by using either the last-in, first-out method or retail inventory method. This ASU is effective for annual reporting periods beginning after December 15, 2016, and is to be applied prospectively, with early adoption permitted. The Company is currently evaluating the impact the ASU will have on its first-in, first-out based inventory, which is approximately 12% of the Company's inventory balance as of June 30, 2015 .

Merger with Unisource

Merger with Unisource	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Merger with Unisource	2. MERGER WITH UNISOURCE On July 1, 2014, UWWH merged with and into Veritiv. The Merger was accounted for in the Company’s financial statements using the acquisition method of accounting, with Veritiv as the accounting acquirer of Unisource. The purchase price of $383.2 million was determined in accordance with the Agreement and Plan of Merger and is allocated to tangible and identifiable intangible assets and liabilities based upon their respective fair values. The following table summarizes the components of the purchase price for Unisource. The fair value of Veritiv shares issued represents the aggregate value of 7.84 million shares issued at the closing "when-issued" market price of the Company’s stock on June 30, 2014, the day prior to the Merger, less a discount for lack of marketability. See Note 8, Fair Value Measurements , regarding the valuation of the contingent liability. Purchase price: (in millions) Fair value of Veritiv shares issued in the Merger $ 284.7 Cash payments associated with customary working capital and net indebtedness adjustments 39.1 Fair value of contingent liability associated with the Tax Receivable Agreement 59.4 Total purchase price $ 383.2 During the first quarter of 2015, the Company recorded a $0.6 million increase to deferred income tax assets and a corresponding decrease to goodwill. This adjustment impacted the fair value of the contingent liability, resulting in a $0.6 million increase to the purchase price and corresponding adjustment to goodwill. The net impact of these adjustments to goodwill was zero . During the second quarter of 2015, the Company finalized the purchase price allocation, which resulted in a $0.3 million increase in deferred tax assets and a corresponding decrease in goodwill. These adjustments did not have a material impact on the Company's previously reported consolidated financial statements and, therefore, the Company has not retrospectively adjusted those financial statements. The following table summarizes the final allocation of the purchase price to assets acquired and liabilities assumed as of the date of the Merger: Final Allocation: (in millions) Cash $ 70.9 Accounts receivable 448.4 Inventories 353.8 Deferred income tax assets 72.0 Property and equipment 299.0 Goodwill 25.7 Other intangible assets 31.5 Other current and non-current assets (including below market leasehold agreements) 61.8 Accounts payable (284.2 ) Long-term debt (including equipment capital leases) (313.2 ) Financing obligations to related party (233.1 ) Defined benefit pension obligations (30.3 ) Other current and non-current liabilities (including above market leasehold agreements) (119.1 ) Total purchase price $ 383.2 The purchase price allocated to the identifiable intangible assets acquired is as follows: Value (in millions) Estimated Weighted Average Useful Life ( in years) Customer relationships $ 24.3 14.8 Trademarks/Trade names 4.1 3.6 Non-compete agreements 3.1 1.0 Total identifiable intangible assets acquired $ 31.5 Goodwill of $25.7 million arising from the Merger consists largely of the synergies and other benefits expected from combining the operations. The goodwill is not expected to be deductible for income tax purposes.

Merger, Integration and Restruc

Merger, Integration and Restructuring Charges	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Merger, Integration and Restructuring Charges	3. MERGER, INTEGRATION AND RESTRUCTURING CHARGES Merger and Integration Charges During the three and six months ended June 30, 2014 , Veritiv incurred merger expenses directly attributable to the Merger. During the three and six months ended June 30, 2015 , Veritiv incurred costs to integrate the combined businesses of xpedx and Unisource. Integration expenses include professional services and project management fees, retention compensation, information technology conversion costs, rebranding costs and other costs to integrate the combined businesses of xpedx and Unisource. The following table summarizes the components of merger and integration expenses: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2015 2014 2015 2014 Legal, consulting and other professional fees $ 2.5 $ 2.1 $ 5.4 $ 2.1 Retention compensation 3.1 — 6.6 — Information technology conversion costs 2.2 — 4.3 — Rebranding 1.7 — 2.5 — Other 0.8 — 1.5 — Total merger and integration expenses $ 10.3 $ 2.1 $ 20.3 $ 2.1 Veritiv Restructuring Plan As part of the Spin-off and Merger, the Company is executing on a multi-year restructuring program of its North American operations intended to integrate the legacy xpedx and Unisource operations, generate cost savings and capture synergies across the combined company. The restructuring plan includes initiatives to: (i) consolidate warehouse facilities in overlapping markets, (ii) improve the efficiency of the delivery network, (iii) consolidate customer service centers, (iv) reorganize the field sales and operations functions and (v) restructure the corporate general and administrative functions. During the fourth quarter of 2014, the Company initiated the process of consolidating warehouse and customer service locations of the legacy organizations as well as realigning its field and sales management function. The Company recorded restructuring charges of $2.2 million and $5.6 million during the three and six months ended June 30, 2015 , respectively, related to these company-wide initiatives. See Note 13, Segment Information, for the impact these charges had on the Company's reportable segments. Other direct costs reported in the table below include facility closing costs and other incidental costs associated with the development, communication, administration and implementation of these initiatives. The corresponding liability and activity are detailed in the table below. (in millions) Severance and Related Costs Other Direct Costs Total Liability at December 31, 2014 $ 3.7 $ 0.2 $ 3.9 Costs incurred 1.9 1.5 3.4 Payments (2.7 ) (0.4 ) (3.1 ) Liability at March 31, 2015 2.9 1.3 4.2 Costs incurred 1.0 1.2 2.2 Payments (1.1 ) (0.7 ) (1.8 ) Liability at June 30, 2015 $ 2.8 $ 1.8 $ 4.6

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	4. DEBT The Company's long-term debt obligations were as follows: (in millions) June 30, 2015 December 31, 2014 ABL Facility $ 792.6 $ 847.8 Equipment capital lease obligations 9.0 11.0 Total debt 801.6 858.8 Less: current portion of long-term debt (3.5 ) (3.8 ) Long-term debt, net of current maturities $ 798.1 $ 855.0 ABL Facility The ABL Facility will mature and the commitments thereunder will terminate on July 1, 2019; however, the ABL Facility provides for the right of the individual lenders to extend the maturity date of their respective commitments and loans upon the request of Veritiv and without the consent of any other lenders. The ABL Facility may be prepaid at Veritiv's option at any time without premium or penalty and is subject to mandatory prepayment if the amount outstanding under the ABL Facility exceeds either the aggregate commitments with respect thereto or the current borrowing base, in both cases in an amount equal to such excess. The ABL Facility has a springing minimum fixed charge coverage ratio of at least 1.00 to 1.00 on a trailing four-quarter basis, which will be tested only when specified availability is less than the limits outlined under the ABL Facility. At June 30, 2015 , the above test was not applicable. Availability under the ABL Facility is determined based upon a monthly borrowing base calculation which includes eligible customer receivables and inventory, less outstanding borrowings, letters of credit and certain designated reserves. As of June 30, 2015 , the available additional borrowing capacity under the ABL Facility was approximately $400.3 million .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	5. INCOME TAXES The Company’s provision for income tax expense for the three and six months ended June 30, 2015 and 2014 is based on the estimated annual effective tax rate, plus any discrete items. The following table presents the provision for income tax expense and the effective tax rates for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, (in millions) 2015 2014 2015 2014 Income from continuing operations before income taxes $ 10.8 $ 5.0 $ 8.7 $ 14.3 Income tax expense 6.5 2.1 6.6 5.8 Effective tax rate 60.2 % 42.7 % 75.9 % 40.8 % The difference between the Company’s effective tax rate for the three and six months ended June 30, 2015 and 2014 and the U.S. statutory tax rate of 35.0% primarily relates to the non-recognition of tax benefits on certain losses, non-deductible expenses, state income taxes (net of federal income tax benefit) and adjustments to uncertain tax positions. Additionally, the effective tax rate may vary significantly due to potential changes in the amount and mix of pre-tax book income and changes in amounts of non-deductible expenses and other items. As of June 30, 2015 , the gross amount of uncertain tax positions was $0.7 million . All of the gross uncertain tax positions, if recognized, would impact Veritiv’s effective tax rate in the period of recognition. The Company accrues interest on unrecognized tax benefits as a component of interest expense, net. Penalties, if incurred, are recognized as a component of income tax expense. The corresponding liabilities are reflected in other non-current liabilities within the Condensed Consolidated Balance Sheets. As a result of the expiration of statutes of limitation, the Company currently estimates that the amount of unrecognized tax benefits could be reduced by up to $0.1 million during the next twelve months. Undistributed earnings of the Company’s foreign subsidiaries are considered permanently reinvested and, accordingly, no provision for U.S. income taxes has been provided thereon.

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	6. RELATED PARTY TRANSACTIONS Transactions with Georgia-Pacific Veritiv purchases certain inventory items from, and sells certain inventory items to, Georgia-Pacific in the normal course of business. As a result of the Merger and private placement, Georgia-Pacific, as joint owner of the sole stockholder of UWWH, is a related party. For the three and six months ended June 30, 2015 , the Company sold products to Georgia-Pacific in the amount of $8.0 million and $17.0 million , respectively, reflected in net sales. For the three and six months ended June 30, 2015 , the Company purchased, and recognized in cost of products sold, inventory from Georgia-Pacific of $67.1 million and $136.5 million , respectively. The aggregate amounts of inventories purchased from Georgia-Pacific that remained on Veritiv's Condensed Consolidated Balance Sheets were $25.2 million and $26.6 million as of June 30, 2015 and December 31, 2014 , respectively. Related party payable to and receivable from Georgia-Pacific were $13.6 million and $4.2 million as of June 30, 2015 , respectively, and $11.0 million and $3.9 million as of December 31, 2014 , respectively. Relationship between Veritiv and International Paper Transactions with International Paper Prior to the Spin-off, xpedx purchased certain inventory items from, and sold certain inventory items to, International Paper in the normal course of business. For the three and six months ended June 30, 2014 , the Company sold products to International Paper in the amount of $12.3 million and $24.3 million , respectively, reflected in net sales. The Company purchased, and recognized in cost of products sold, inventory from International Paper of $136.5 million and $276.5 million during three and six months ended June 30, 2014 , respectively. After the Spin-off and the Merger, Veritiv continues to purchase from and sell certain inventory items to International Paper that are considered transactions in the normal course of the Company’s operations. Although the Company and International Paper have entered into a transition services agreement, International Paper is not considered a related party subsequent to the Spin-off. Parent Company Investment The components of net transfers to Parent for the six months ended June 30, 2014 were as follows: Six Months Ended June 30, (in millions) 2014 Intercompany sales and purchases, net $ 255.4 Cash pooling and general financing activities (322.5 ) Corporate allocations including income taxes 34.7 Total net transfers to International Paper $ (32.4 ) Allocation of General Corporate Expenses Prior to the Spin-off, the xpedx financial statements included expense allocations for certain functions previously provided by International Paper, including, but not limited to, general corporate expenses related to finance, legal, information technology, human resources, communications, insurance and stock-based compensation. These expenses were allocated on the basis of direct usage when identifiable, with the remainder principally allocated on the basis of percent of capital employed, headcount, sales or other measures. Prior to the Spin-off, $15.7 million and $28.7 million of expenses were allocated to xpedx and were included within selling and administrative expenses for the three and six months ended June 30, 2014 , respectively. Separation Agreements with Former Unisource CEO Effective as of the Distribution Date, Allan R. Dragone, Jr. ceased to be the Chief Executive Officer of Unisource and became a member of Veritiv’s Board of Directors. As part of his employment agreement, Mr. Dragone exercised his right to sell his personal residence to the Company. The Company completed the purchase of the residence for $4.6 million during the first quarter of 2015. During the second quarter of 2015, the Company sold the residence for $4.6 million .

Defined Benefit Plans

Defined Benefit Plans	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Defined Benefit Plan	7. DEFINED BENEFIT PLANS In conjunction with the Merger, Veritiv assumed responsibility for Unisource’s defined benefit pension plans and Supplemental Executive Retirement Plans in the U.S. and Canada. Net periodic benefit cost (credit) associated with these plans is summarized below: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 (in millions) U.S. Canada U.S. Canada Components of net periodic benefit cost (credit): Service cost $ 0.5 $ 0.0 $ 0.9 $ 0.1 Interest cost 0.9 0.9 1.7 1.7 Expected return on plan assets (1.3 ) (0.9 ) (2.7 ) (1.8 ) Net periodic benefit cost (credit) $ 0.1 $ 0.0 $ (0.1 ) $ 0.0 Certain of xpedx’s employees participated in defined benefit pension and other post-retirement benefit plans sponsored and accounted for by International Paper. In conjunction with the Spin-off, these plans were frozen for the xpedx employees, and International Paper retained the associated liabilities. Certain xpedx union employees were added as participants to the Unisource defined benefit pension plan. The amount of net pension and other post-employment benefit expense attributable to xpedx related to the International Paper sponsored plans was $4.1 million and $8.0 million for the three and six months ended June 30, 2014 , respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. FAIR VALUE MEASUREMENTS At June 30, 2015 and December 31, 2014 , the carrying amounts of cash, receivables, payables and other components of other current assets and other current liabilities approximate their fair value due to the short maturity of these items. Borrowings under the ABL Facility are at variable market interest rates, and accordingly, the carrying amount approximates fair value. At the time of the Merger, the Company recorded a $59.4 million contingent liability associated with the Tax Receivable Agreement at fair value using a discounted cash flow model that reflected management's expectations about probability of payment. Key assumptions utilized in the discounted cash flow model included a discount rate of 4.8% , projected revenues and projected taxable income. The Company’s discounted cash flow model used significant unobservable (Level 3) inputs that were tied to the utilization of Unisource’s net operating losses, attributable to taxable periods prior to the Merger, by the Company. The contingent liability is remeasured at fair value at each reporting period with the change in fair value recognized in other expense (income), net in the Company’s Condensed Consolidated and Combined Statements of Income. At June 30, 2015 , the Company remeasured the contingent liability using a discount rate of 5.2% . The following table provides a reconciliation of the beginning and ending balance of the contingent liability for the six months ended June 30, 2015 : (in millions) Contingent Liability Balance at December 31, 2014 $ 60.5 Purchase accounting adjustment 0.6 Change in fair value adjustment recorded in other expense (income), net 1.3 Balance at March 31, 2015 $ 62.4 Change in fair value adjustment recorded in other expense (income), net (1.7 ) Balance at June 30, 2015 $ 60.7 There have been no transfers between the fair value measurement levels for the three and six months ended June 30, 2015 and 2014 . The Company recognizes transfers between the fair value measurement levels at the end of the reporting period.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	9. EARNINGS PER SHARE Basic earnings per share ("EPS") for Veritiv common stock is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted EPS is similarly calculated, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued, except where the inclusion of such common shares would have an antidilutive impact. On the Distribution Date, Veritiv had 16.0 million shares of common stock issued and outstanding, including 7.84 million shares issued in a private placement to the sole stockholder of UWWH in connection with the Merger. The calculation of both basic and diluted EPS for the three and six months ended June 30, 2014 utilized 8.16 million shares issued and outstanding as no equity-based awards were outstanding prior to the Distribution Date, and Veritiv was a wholly-owned subsidiary of International Paper prior to that date. The calculation of both basic and diluted EPS for the three and six months ended June 30, 2015 utilized 16.0 million shares issued and outstanding based on the weighted average shares outstanding during this period, reflecting the impact of the private placement of shares to the sole stockholder of UWWH on the Distribution Date. During 2015, the Company granted equity-based awards to certain of its employees. See Note 11, Equity-Based Incentive Plans, for additional information. These awards were excluded from the computation of diluted EPS because their inclusion would have been antidilutive, or they were subject to performance conditions that had not been met. A reconciliation of the numerators and denominators used in the basic and diluted EPS calculation is as follows: Three Months Ended Six Months Ended (in millions) 2015 2014 2015 2014 Numerator: Income from continuing operations $ 4.3 $ 2.9 $ 2.1 $ 8.5 Loss from discontinued operations, net of income taxes — — — (0.1 ) Net income $ 4.3 $ 2.9 $ 2.1 $ 8.4 Denominator: Weighted average number of shares outstanding – basic and diluted 16.00 8.16 16.00 8.16 Antidilutive stock-based awards excluded from computation of diluted EPS 0.06 — 0.06 — Performance stock-based awards excluded from computation of diluted EPS because performance conditions had not been met 0.24 — 0.24 —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	10. ACCUMULATED OTHER COMPREHENSIVE LOSS The following table provides the components of accumulated other comprehensive loss: (in millions) June 30, 2015 December 31, 2014 Foreign currency translation adjustments $ (21.2 ) $ (14.7 ) Adjustments to pension and other benefit liabilities, net of tax (7.4 ) (7.4 ) Total accumulated other comprehensive loss $ (28.6 ) $ (22.1 ) For the three and six months ended June 30, 2015 and 2014 , there were no reclassifications out of accumulated other comprehensive loss.

Equity-Based Incentive Plans

Equity-Based Incentive Plans	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Incentive Plans	11. EQUITY-BASED INCENTIVE PLANS Veritiv Omnibus Incentive Plan Veritiv's 2014 Omnibus Incentive Plan (the "2014 Plan") provides for the grant of options, stock appreciation rights, stock purchase rights, restricted shares, restricted stock units, dividend equivalents, deferred share units, performance shares, performance units and other equity-based awards. Awards may be granted under the 2014 Plan to any employee, director, consultant or other service provider of Veritiv or a subsidiary of Veritiv. Grants are made at the discretion of the Compensation and Leadership Development Committee of the Company's Board of Directors. On June 30, 2015, the Company granted 27,424 deferred share units ("DSUs") to its non-employee directors. Each DSU is the economical equivalent of one share of Veritiv's common stock. The DSUs are fully vested and non-forfeitable as of the grant date and are payable in cash following the individual's termination of service as a Veritiv director. At June 30, 2015, the Company recognized $1.0 million in expense related to these units based on a grant date fair value of $36.46 , the closing market price of the Company's common stock on June 30, 2015. The DSUs were classified as a non-current liability and will be remeasured at each reporting date, with a corresponding adjustment to compensation expense. During 2015, the Company granted approximately 64,000 restricted stock units ("RSUs"), 160,000 performance condition stock units (“PCSUs”), and 96,000 market condition performance stock units (“MCPSUs”) to certain of its employees. These units will cliff vest at the end of three years and be settled in shares of common stock, subject to continued service and, in the case of the PCSUs and MCPSUs, the attainment of performance conditions. Dividends are not paid or accrued on unvested stock units. The grant date fair values are not reduced for dividends as none are expected to be paid during the vesting period. The weighted average grant date fair value of the RSUs granted in 2015 is $51.79 and is based on either the closing price of Veritiv common stock on the trading day immediately prior to the date of grant or the closing price on the date of grant. The RSUs are only subject to a service requirement, thus compensation expense for the RSUs is recognized ratably from the grant date to the vesting date. The PCSU award represents the contingent right to receive a number of shares equal to a portion, all or a multiple (not to exceed 200% ) of the target number of PCSUs. The PCSUs are divided into three tranches, and each tranche is earned based on the achievement of an annual Adjusted EBITDA target which is set at the beginning of each of the three years in the vesting period. The Company defines Adjusted EBITDA as earnings before interest, income taxes, depreciation and amortization, restructuring charges (income), non-restructuring stock-based compensation expense, LIFO expense (income), non-restructuring severance charges, merger and integration expenses, loss from discontinued operations, net of income taxes, fair value adjustments on the contingent liability associated with the Tax Receivable Agreement ("TRA") and certain other adjustments. The PCSUs that can be earned in 2015 had a weighted average grant date fair value of $51.79 with compensation expense recognized ratably over the three year vesting period. The fair value of the 2016 and 2017 tranches will be based on the market value of Veritiv common stock on the date the Adjusted EBITDA targets are set for each year. Compensation expense for each tranche is recognized ratably from the date the fair value is determined to the vesting date for the number of awards expected to vest. The MCPSU award represents the contingent right to receive a number of shares equal to a portion, all or a multiple (not to exceed 200% ) of the target number of MCPSUs. The MCPSUs are divided into three tranches and each tranche is earned based on the achievement of an annual total shareholder return target relative to the total shareholder return of an applicable peer group over the one-, two- and three-year cumulative periods in the vesting period. The weighted average grant date fair value of the MCPSUs is $63.21 , determined using a Monte Carlo simulation model. Assumptions used in the model included a 25.0% expected volatility rate and a 1.1% risk-free interest rate. The expected volatility rate is based on the historical volatility of a group of peer companies over the most recent period equal to the vesting period, as Veritiv has limited trading history to use the volatility of its own common stock. The risk-free interest rate is based on the yield on U.S. Treasury securities matching the vesting period. Compensation expense is recognized ratably from the grant date to the vesting date. During the three and six months ended June 30, 2015 , the Company recognized $0.9 million and $1.9 million respectively, in expense related to these awards. As of June 30, 2015 , total unrecognized stock-based compensation expense was $13.3 million and is expected to be recognized over a weighted average period of 2.7 years. Unrecognized compensation expense for the 2016 and 2017 tranches of the PCSU awards is estimated based on the Company's closing stock price at June 30, 2015 . International Paper Incentive Plans At the time of the Spin-off, all equity awards held by employees of xpedx were granted under International Paper’s 2009 Incentive Compensation Plan or predecessor plans. In conjunction with the Spin-off and Merger, International Paper retained all rights and obligations of these incentive plans. xpedx's stock-based compensation expense and related income tax benefits associated with these International Paper plans were as follows: Three Months Ended Six Months Ended (in millions) 2014 2014 Total stock-based compensation expense $ 3.2 $ 4.3 Income tax benefit related to stock-based compensation $ 0.3 $ 1.3

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. COMMITMENTS AND CONTINGENCIES Legal Proceedings From time to time, the Company is involved in various lawsuits, claims, and regulatory and administrative proceedings arising out of its business relating to general commercial and contractual matters, governmental regulations, intellectual property rights, labor and employment matters, tax and other actions. Although the ultimate outcome of any legal proceeding or investigation cannot be predicted with certainty, based on present information, including the Company's assessment of the merits of the particular claim, the Company does not expect that any asserted or unasserted legal claims or proceedings, individually or in the aggregate, will have a material adverse effect on its cash flow, results of operations or financial condition. Escheat Audit During 2013, Unisource was notified by the State of Delaware that it intended to examine the books and records of Unisource to determine compliance with Delaware escheat laws. Since that date, seven other states have joined with Delaware in the audit process which is conducted by an outside firm on behalf of the states and covers the period from 1986 to present. The Company has been informed that similar audits have generally taken two to four years to complete. The Company has determined that the ultimate outcome of this audit cannot be reasonably estimated at this time. Any claims or liabilities resulting from these audits could have a material impact on the Company’s financial condition, results of operations and cash flows.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	13. SEGMENT INFORMATION The following tables present net sales, Adjusted EBITDA (as defined in Note 11 ) and certain other measures for each of the reportable segments and total continuing operations for the periods presented: (in millions) Print Publishing Packaging Facility Solutions Corporate & Other Total Three Months Ended June 30, 2015 Net sales $ 812.5 $ 294.4 $ 699.6 $ 324.5 $ 28.3 $ 2,159.3 Adjusted EBITDA 18.4 7.4 51.8 10.6 (47.5 ) 40.7 Depreciation and amortization 3.4 1.0 4.0 2.1 4.8 15.3 Restructuring charges 0.8 — 0.5 0.4 0.5 2.2 Three Months Ended June 30, 2014 Net sales 546.3 188.0 410.3 184.4 — 1,329.0 Adjusted EBITDA 9.3 3.7 25.7 2.8 (23.9 ) 17.6 Depreciation and amortization 1.2 0.2 0.7 0.4 1.8 4.3 Restructuring income (0.3 ) — (0.3 ) (0.3 ) — (0.9 ) Six Months Ended June 30, 2015 Net sales 1,633.2 603.9 1,374.8 633.6 51.7 4,297.2 Adjusted EBITDA 33.9 13.8 97.5 17.5 (93.6 ) 69.1 Depreciation and amortization 6.8 1.6 7.8 3.9 8.7 28.8 Restructuring charges 1.6 — 1.4 1.3 1.3 5.6 Six Months Ended June 30, 2014 Net sales 1,091.2 377.1 804.5 363.6 — 2,636.4 Adjusted EBITDA 17.6 7.4 51.3 2.9 (49.0 ) 30.2 Depreciation and amortization 2.4 0.3 1.5 0.9 3.8 8.9 Restructuring income (0.4 ) — (0.2 ) (0.5 ) — (1.1 ) The table below presents a reconciliation of income from continuing operations before income taxes reflected in the Condensed Consolidated and Combined Statements of Income to Total Adjusted EBITDA: Three Months Ended Six Months Ended (in millions) 2015 2014 2015 2014 Income from continuing operations before income taxes $ 10.8 $ 5.0 $ 8.7 $ 14.3 Interest expense, net 6.4 — 12.8 — Depreciation and amortization 15.3 4.3 28.8 8.9 Restructuring charges (income) 2.2 (0.9 ) 5.6 (1.1 ) Non-restructuring stock-based compensation 0.9 3.0 1.9 4.0 LIFO expense (income) (4.8 ) 3.4 (10.0 ) (0.3 ) Non-restructuring severance charges 1.0 0.7 1.4 2.4 Merger and integration expenses 10.3 2.1 20.3 2.1 Fair value adjustments on TRA contingent liability (1.7 ) — (0.4 ) — Other 0.3 — — (0.1 ) Total Adjusted EBITDA $ 40.7 $ 17.6 $ 69.1 $ 30.2

Subsequent Event (Notes)

Subsequent Event (Notes)	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	14. SUBSEQUENT EVENT In July 2015, the Company entered into an interest rate cap agreement that is effective on July 31, 2015 with an expiration date of July 1, 2019. The interest rate cap effectively caps the LIBOR-based portion of the interest rate on an initial notional amount of $392.9 million of the Company’s floating-rate debt at 3.0% plus the applicable credit spread. The Company designated the interest rate cap as a cash flow hedge of exposure to changes in cash flows due to changes in the LIBOR-based portion of the interest rate above 3.0% on an equivalent amount of debt. The notional amount of the cap is reduced throughout the term of the agreement in order to align with the expected repayment of the Company’s outstanding floating-rate debt.

Business and Summary of Signi22

Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated and Combined Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for a complete set of annual audited financial statements. The accompanying unaudited financial information should be read in conjunction with the Consolidated and Combined Financial Statements and Notes contained in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") for the year ended December 31, 2014. In the opinion of management, all adjustments (consisting of normal recurring accruals and other adjustments) considered necessary for a fair presentation have been included. The operating results for the interim periods are not necessarily indicative of results for the full year. Prior to the Distribution Date, Veritiv’s financial position, results of operations and cash flows consisted of only the xpedx business of International Paper and were derived from International Paper’s historical accounting records. The financial results of xpedx have been presented on a carve-out basis through the Distribution Date, while the financial results for Veritiv, post Spin-off, are prepared on a stand-alone basis. As such, the combined financial statements for the three and six months ended June 30, 2014 consist entirely of the combined results of xpedx on a carve-out basis. All significant intercompany transactions between Veritiv's businesses have been eliminated. All significant intercompany transactions between xpedx and International Paper have been included for the periods prior to the Spin-off and were considered to be effectively settled for cash at the time the transaction was recorded. The total net effect of the settlement of these intercompany transactions is reflected in the Condensed Combined Statement of Cash Flows for the six months ended June 30, 2014 as a financing activity. For periods prior to the Spin-off, the combined financial statements include expense allocations for certain functions previously provided by International Paper, including, but not limited to, general corporate expenses related to finance, legal, information technology, human resources, communications, insurance and stock-based compensation. See Note 6, Related Party Transactions , for further information. Following the Spin-off, certain corporate and other related functions described above continue to be provided by International Paper under a transition services agreement. During the three and six months ended June 30, 2015 , the Company has recognized $3.2 million and $8.8 million , respectively, in selling and administrative expenses related to this agreement. For the six months ended June 30, 2014 , certain amounts in the operating activities section of the Condensed Combined Statement of Cash Flows have been reclassified for comparative purposes to conform to the current year presentation. This reclassification did not have any impact on net cash flows from operations or the Condensed Combined Statement of Income for the three and six months ended June 30, 2014 .
Use of Estimates	Use of Estimates The preparation of unaudited financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses, and certain financial statement disclosures. Estimates and assumptions are used for, but not limited to, revenue recognition, accounts receivable valuation, inventory valuation, employee benefit plans, income tax contingency accruals and valuation allowances and goodwill and other intangible asset valuations. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, actual results may ultimately differ from these estimates and assumptions. Estimates are revised as additional information becomes available.
New Accounting Pronouncements	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers , which requires companies to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration it expects to be entitled to exchange for those goods or services. Entities may use a full retrospective approach or report the cumulative effect as of the date of adoption. In July 2015, the FASB approved a one year deferral of this standard, and this pronouncement is now effective for annual periods beginning after December 15, 2017. Early adoption is permitted, but not before the original effective date of December 15, 2016. The Company is currently evaluating the alternative methods of adoption and the effect on its Consolidated Financial Statements and related disclosures. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs , which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance of debt issuance costs are not affected by the amendments in this update. This ASU is effective for annual reporting periods beginning after December 15, 2015, and is to be applied retrospectively, with early adoption permitted. The Company adopted this standard during the second quarter of 2015; it did not have any impact to the Consolidated Financial Statements and related disclosures as interpretative guidance related to this ASU has concluded that this ASU does not apply to debt issuance costs associated with revolving debt arrangements. Deferred financing fees related to the Company's asset-based lending facility (the "ABL Facility") remain classified within other non-current assets. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory , which requires companies to measure inventory at the lower of cost and net realizable value, thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. This ASU will not apply to inventories that are measured by using either the last-in, first-out method or retail inventory method. This ASU is effective for annual reporting periods beginning after December 15, 2016, and is to be applied prospectively, with early adoption permitted. The Company is currently evaluating the impact the ASU will have on its first-in, first-out based inventory, which is approximately 12% of the Company's inventory balance as of June 30, 2015 .

Merger with Unisource (Tables)

Merger with Unisource (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of Business Acquisition Purchase Price	The following table summarizes the components of the purchase price for Unisource. The fair value of Veritiv shares issued represents the aggregate value of 7.84 million shares issued at the closing "when-issued" market price of the Company’s stock on June 30, 2014, the day prior to the Merger, less a discount for lack of marketability. See Note 8, Fair Value Measurements , regarding the valuation of the contingent liability. Purchase price: (in millions) Fair value of Veritiv shares issued in the Merger $ 284.7 Cash payments associated with customary working capital and net indebtedness adjustments 39.1 Fair value of contingent liability associated with the Tax Receivable Agreement 59.4 Total purchase price $ 383.2
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the final allocation of the purchase price to assets acquired and liabilities assumed as of the date of the Merger: Final Allocation: (in millions) Cash $ 70.9 Accounts receivable 448.4 Inventories 353.8 Deferred income tax assets 72.0 Property and equipment 299.0 Goodwill 25.7 Other intangible assets 31.5 Other current and non-current assets (including below market leasehold agreements) 61.8 Accounts payable (284.2 ) Long-term debt (including equipment capital leases) (313.2 ) Financing obligations to related party (233.1 ) Defined benefit pension obligations (30.3 ) Other current and non-current liabilities (including above market leasehold agreements) (119.1 ) Total purchase price $ 383.2
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination	The purchase price allocated to the identifiable intangible assets acquired is as follows: Value (in millions) Estimated Weighted Average Useful Life ( in years) Customer relationships $ 24.3 14.8 Trademarks/Trade names 4.1 3.6 Non-compete agreements 3.1 1.0 Total identifiable intangible assets acquired $ 31.5

Merger, Integration and Restr24

Merger, Integration and Restructuring Charges (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Components of Merger and Integration Costs	The following table summarizes the components of merger and integration expenses: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2015 2014 2015 2014 Legal, consulting and other professional fees $ 2.5 $ 2.1 $ 5.4 $ 2.1 Retention compensation 3.1 — 6.6 — Information technology conversion costs 2.2 — 4.3 — Rebranding 1.7 — 2.5 — Other 0.8 — 1.5 — Total merger and integration expenses $ 10.3 $ 2.1 $ 20.3 $ 2.1
Schedule of Restructuring Reserve	The corresponding liability and activity are detailed in the table below. (in millions) Severance and Related Costs Other Direct Costs Total Liability at December 31, 2014 $ 3.7 $ 0.2 $ 3.9 Costs incurred 1.9 1.5 3.4 Payments (2.7 ) (0.4 ) (3.1 ) Liability at March 31, 2015 2.9 1.3 4.2 Costs incurred 1.0 1.2 2.2 Payments (1.1 ) (0.7 ) (1.8 ) Liability at June 30, 2015 $ 2.8 $ 1.8 $ 4.6

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Obligations	The Company's long-term debt obligations were as follows: (in millions) June 30, 2015 December 31, 2014 ABL Facility $ 792.6 $ 847.8 Equipment capital lease obligations 9.0 11.0 Total debt 801.6 858.8 Less: current portion of long-term debt (3.5 ) (3.8 ) Long-term debt, net of current maturities $ 798.1 $ 855.0

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Tax (Benefit) Expense	The following table presents the provision for income tax expense and the effective tax rates for the three and six months ended June 30, 2015 and 2014 : Three Months Ended June 30, Six Months Ended June 30, (in millions) 2015 2014 2015 2014 Income from continuing operations before income taxes $ 10.8 $ 5.0 $ 8.7 $ 14.3 Income tax expense 6.5 2.1 6.6 5.8 Effective tax rate 60.2 % 42.7 % 75.9 % 40.8 %

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Parent Company Investment	The components of net transfers to Parent for the six months ended June 30, 2014 were as follows: Six Months Ended June 30, (in millions) 2014 Intercompany sales and purchases, net $ 255.4 Cash pooling and general financing activities (322.5 ) Corporate allocations including income taxes 34.7 Total net transfers to International Paper $ (32.4 )

Defined Benefit Plans (Tables)

Defined Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Periodic Benefit Costs	Net periodic benefit cost (credit) associated with these plans is summarized below: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 (in millions) U.S. Canada U.S. Canada Components of net periodic benefit cost (credit): Service cost $ 0.5 $ 0.0 $ 0.9 $ 0.1 Interest cost 0.9 0.9 1.7 1.7 Expected return on plan assets (1.3 ) (0.9 ) (2.7 ) (1.8 ) Net periodic benefit cost (credit) $ 0.1 $ 0.0 $ (0.1 ) $ 0.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table provides a reconciliation of the beginning and ending balance of the contingent liability for the six months ended June 30, 2015 : (in millions) Contingent Liability Balance at December 31, 2014 $ 60.5 Purchase accounting adjustment 0.6 Change in fair value adjustment recorded in other expense (income), net 1.3 Balance at March 31, 2015 $ 62.4 Change in fair value adjustment recorded in other expense (income), net (1.7 ) Balance at June 30, 2015 $ 60.7

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the numerators and denominators used in the basic and diluted EPS calculation is as follows: Three Months Ended Six Months Ended (in millions) 2015 2014 2015 2014 Numerator: Income from continuing operations $ 4.3 $ 2.9 $ 2.1 $ 8.5 Loss from discontinued operations, net of income taxes — — — (0.1 ) Net income $ 4.3 $ 2.9 $ 2.1 $ 8.4 Denominator: Weighted average number of shares outstanding – basic and diluted 16.00 8.16 16.00 8.16 Antidilutive stock-based awards excluded from computation of diluted EPS 0.06 — 0.06 — Performance stock-based awards excluded from computation of diluted EPS because performance conditions had not been met 0.24 — 0.24 —

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table provides the components of accumulated other comprehensive loss: (in millions) June 30, 2015 December 31, 2014 Foreign currency translation adjustments $ (21.2 ) $ (14.7 ) Adjustments to pension and other benefit liabilities, net of tax (7.4 ) (7.4 ) Total accumulated other comprehensive loss $ (28.6 ) $ (22.1 )

Equity-Based Incentive Plans (T

Equity-Based Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	At the time of the Spin-off, all equity awards held by employees of xpedx were granted under International Paper’s 2009 Incentive Compensation Plan or predecessor plans. In conjunction with the Spin-off and Merger, International Paper retained all rights and obligations of these incentive plans. xpedx's stock-based compensation expense and related income tax benefits associated with these International Paper plans were as follows: Three Months Ended Six Months Ended (in millions) 2014 2014 Total stock-based compensation expense $ 3.2 $ 4.3 Income tax benefit related to stock-based compensation $ 0.3 $ 1.3

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables present net sales, Adjusted EBITDA (as defined in Note 11 ) and certain other measures for each of the reportable segments and total continuing operations for the periods presented: (in millions) Print Publishing Packaging Facility Solutions Corporate & Other Total Three Months Ended June 30, 2015 Net sales $ 812.5 $ 294.4 $ 699.6 $ 324.5 $ 28.3 $ 2,159.3 Adjusted EBITDA 18.4 7.4 51.8 10.6 (47.5 ) 40.7 Depreciation and amortization 3.4 1.0 4.0 2.1 4.8 15.3 Restructuring charges 0.8 — 0.5 0.4 0.5 2.2 Three Months Ended June 30, 2014 Net sales 546.3 188.0 410.3 184.4 — 1,329.0 Adjusted EBITDA 9.3 3.7 25.7 2.8 (23.9 ) 17.6 Depreciation and amortization 1.2 0.2 0.7 0.4 1.8 4.3 Restructuring income (0.3 ) — (0.3 ) (0.3 ) — (0.9 ) Six Months Ended June 30, 2015 Net sales 1,633.2 603.9 1,374.8 633.6 51.7 4,297.2 Adjusted EBITDA 33.9 13.8 97.5 17.5 (93.6 ) 69.1 Depreciation and amortization 6.8 1.6 7.8 3.9 8.7 28.8 Restructuring charges 1.6 — 1.4 1.3 1.3 5.6 Six Months Ended June 30, 2014 Net sales 1,091.2 377.1 804.5 363.6 — 2,636.4 Adjusted EBITDA 17.6 7.4 51.3 2.9 (49.0 ) 30.2 Depreciation and amortization 2.4 0.3 1.5 0.9 3.8 8.9 Restructuring income (0.4 ) — (0.2 ) (0.5 ) — (1.1 )
Reconciliation of Total Adjusted EBITDA to Net Income (Loss)	The table below presents a reconciliation of income from continuing operations before income taxes reflected in the Condensed Consolidated and Combined Statements of Income to Total Adjusted EBITDA: Three Months Ended Six Months Ended (in millions) 2015 2014 2015 2014 Income from continuing operations before income taxes $ 10.8 $ 5.0 $ 8.7 $ 14.3 Interest expense, net 6.4 — 12.8 — Depreciation and amortization 15.3 4.3 28.8 8.9 Restructuring charges (income) 2.2 (0.9 ) 5.6 (1.1 ) Non-restructuring stock-based compensation 0.9 3.0 1.9 4.0 LIFO expense (income) (4.8 ) 3.4 (10.0 ) (0.3 ) Non-restructuring severance charges 1.0 0.7 1.4 2.4 Merger and integration expenses 10.3 2.1 20.3 2.1 Fair value adjustments on TRA contingent liability (1.7 ) — (0.4 ) — Other 0.3 — — (0.1 ) Total Adjusted EBITDA $ 40.7 $ 17.6 $ 69.1 $ 30.2

Business and Summary of Signi34

Business and Summary of Significant Accounting Policies (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)Distribution_Center	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Distribution_Center	Jun. 30, 2014USD ($)
Accounting Policies [Line Items]
Number of distribution centers (more than) | Distribution_Center	180		180
Selling and administrative expenses	$ 218	$ 129.9	$ 428.6	$ 258.5
Percentage of FIFO Inventory	12.00%		12.00%
International Paper | Transaction Service Agreement (TSA)
Accounting Policies [Line Items]
Selling and administrative expenses	$ 3.2		$ 8.8

Merger with Unisource - Narrati

Merger with Unisource - Narrative (Details) - USD ($) shares in Thousands	Jul. 01, 2014	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill		$ 52,100,000		$ 52,400,000
UWW Holdings, Inc. XPEDX Merger
Business Acquisition [Line Items]
Purchase price	$ 383,200,000
Business acquisition, equity issued, number of shares	7,840
Increase in deferred tax asset		300,000	$ 600,000
Purchase price adjustment			600,000
Goodwill accounting adjustment		$ (300,000)	$ 0
Goodwill	$ 25,700,000

Merger with Unisource - Assets

Merger with Unisource - Assets Acquired and Liabilites Assumed (Details) - USD ($) $ in Millions	Jul. 01, 2014	Jun. 30, 2015	Dec. 31, 2014
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill		$ 52.1	$ 52.4
UWW Holdings, Inc. XPEDX Merger
Purchase price:
Fair value of Veritiv shares issued	$ 284.7
Cash payment associated with customary working capital and net indebtedness adjustments	39.1
Fair value of contingent liability associated with the Tax Receivable Agreement	59.4
Purchase price	383.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash	70.9
Accounts receivable	448.4
Inventories	353.8
Deferred income tax assets	72
Property and equipment	299
Goodwill	25.7
Other intangible assets	31.5
Other current and non-current assets (including below market leasehold agreements)	61.8
Accounts payable	(284.2)
Long-term debt (including equipment capital leases)	(313.2)
Financing obligations to related party	(233.1)
Defined benefit pension obligations	(30.3)
Other current and non-current liabilities (including above market leasehold agreements)	(119.1)
Total purchase price	$ 383.2

Merger with Unisource - Intangi

Merger with Unisource - Intangible Assets Acquired (Details) - Jul. 01, 2014 - UWW Holdings, Inc. XPEDX Merger - USD ($) $ in Millions	Total
Acquired Finite-Lived Intangible Assets [Line Items]
Value (in millions)	$ 31.5
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Value (in millions)	$ 24.3
Estimated Useful Lives (in years)	14 years 9 months
Trademarks/Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Value (in millions)	$ 4.1
Estimated Useful Lives (in years)	3 years 7 months
Non-compete agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Value (in millions)	$ 3.1
Estimated Useful Lives (in years)	1 year

Merger, Integration and Restr38

Merger, Integration and Restructuring Charges - Merger and Integration Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Total merger and integration expenses	$ 10.3	$ 2.1	$ 20.3	$ 2.1
UWW Holdings, Inc. XPEDX Merger
Business Acquisition [Line Items]
Legal, consulting and other professional fees	2.5	2.1	5.4	2.1
Retention compensation	3.1	0	6.6	0
Information technology conversion costs	2.2	0	4.3	0
Rebranding	1.7	0	2.5	0
Other	0.8	0	1.5	0
Total merger and integration expenses	$ 10.3	$ 2.1	$ 20.3	$ 2.1

Merger, Integration and Restr39

Merger, Integration and Restructuring Charges - Restructuring Liability (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Restructuring Reserve [Roll Forward]
Restructuring charges (income)	$ 2.2		$ (0.9)	$ 5.6	$ (1.1)
Veritiv Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	4.2	$ 3.9		3.9
Restructuring charges (income)	2.2	3.4		5.6
Payments	(1.8)	(3.1)
Restructuring reserve, ending balance	4.6	4.2		4.6
Severance and Related Costs | Veritiv Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	2.9	3.7		3.7
Restructuring charges (income)	1	1.9
Payments	(1.1)	(2.7)
Restructuring reserve, ending balance	2.8	2.9		2.8
Other Direct Costs | Veritiv Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	1.3	0.2		0.2
Restructuring charges (income)	1.2	1.5
Payments	(0.7)	(0.4)
Restructuring reserve, ending balance	$ 1.8	$ 1.3		$ 1.8

Debt - Long-Term Debt Obligatio

Debt - Long-Term Debt Obligations (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Equipment capital lease obligations	$ 9	$ 11
Total debt	801.6	858.8
Less: current portion of long-term debt	(3.5)	(3.8)
Long-term debt, net of current maturities	798.1	855
Line of Credit | Asset-Backed Lending Facility
Debt Instrument [Line Items]
ABL Facility	$ 792.6	$ 847.8

Debt - Narrative (Details)

Debt - Narrative (Details) - Jun. 30, 2015 - Line of Credit - Asset-Backed Lending Facility - USD ($) $ in Millions	Total
Line of Credit Facility [Line Items]
Minimum fixed charge coverage ratio	100.00%
Remaining borrowing capacity	$ 400.3

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Income from continuing operations before income taxes	$ 10.8	$ 5	$ 8.7	$ 14.3
Income tax expense	$ 6.5	$ 2.1	$ 6.6	$ 5.8
Effective income tax rate (as percent)	60.20%	42.70%	75.90%	40.80%
Federal statutory income tax rate (as percent)	35.00%	35.00%	35.00%	35.00%
Unrecognized tax benefits	$ 0.7		$ 0.7
Unrecognized tax benefits that would impact effective tax rate	0.7		0.7
Decrease in unrecognized tax benefits is reasonably possible	$ 0.1		$ 0.1

Related-Party Transactions - Pa

Related-Party Transactions - Parent Company Investment (Details) - Parent Company Investment $ in Millions	6 Months Ended
	Jun. 30, 2014USD ($)
Parent Company Investment [Line Items]
Intercompany sales and purchases, net	$ 255.4
Cash pooling and general financing activities	(322.5)
Corporate allocations including income taxes	34.7
Total net transfers to International Paper	$ (32.4)

Related-Party Transactions - Na

Related-Party Transactions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Related party sales	$ 8		$ 12.3	$ 17	$ 24.3
Inventories	711.5			711.5		$ 673.2
Related party payable	13.6			13.6		11
Related party receivable	4.2			4.2		3.9
Proceeds from sale of residence	4.6
Georgia-Pacific
Related Party Transaction [Line Items]
Inventories	25.2			25.2		26.6
Related party payable	13.6			13.6		11
Related party receivable	4.2			4.2		$ 3.9
Georgia-Pacific | Sales
Related Party Transaction [Line Items]
Related party sales	8			17
Georgia-Pacific | Cost of products sold
Related Party Transaction [Line Items]
Purchases from related party	$ 67.1			$ 136.5
International Paper | Sales | Other International Paper Businesses
Related Party Transaction [Line Items]
Related party sales			12.3		24.3
International Paper | Cost of products sold | Other International Paper Businesses
Related Party Transaction [Line Items]
Purchases from related party			136.5		276.5
International Paper | Selling, general and administrative expenses
Related Party Transaction [Line Items]
General corporate expenses			$ 15.7		$ 28.7
CEO of Merged Company | Purchase of Personal Residence
Related Party Transaction [Line Items]
Related party transaction amount		$ 4.6

Defined Benefit Plans - Net Per

Defined Benefit Plans - Net Periodic Costs (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total	Total
U.S. Defined Benefit Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	$ 0.5	$ 0.9
Interest cost	0.9	1.7
Expected return on plan assets	(1.3)	(2.7)
Net periodic pension credit	0.1	(0.1)
Canada Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost	0	0.1
Interest cost	0.9	1.7
Expected return on plan assets	(0.9)	(1.8)
Net periodic pension credit	$ 0	$ 0

Defined Benefit Plans - Narrati

Defined Benefit Plans - Narrative (Details) - Jun. 30, 2014 - USD ($) $ in Millions	Total	Total
Compensation and Retirement Disclosure [Abstract]
Net pension and other post-employment benefit expense	$ 4.1	$ 8

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - UWW Holdings, Inc. XPEDX Merger - USD ($) $ in Millions	Jul. 01, 2014	Jun. 30, 2015
Business Acquisition [Line Items]
Fair value of contingent liability associated with the Tax Receivable Agreement	$ 59.4
Fair Value, Measurements, Recurring | Level 3 | Contingent Liability
Business Acquisition [Line Items]
Fair value discount rate	4.80%	5.20%

Fair Value Measurements - Conti

Fair Value Measurements - Contingent Liability (Details) - Fair Value, Measurements, Recurring - Level 3 - Contingent Liability - UWW Holdings, Inc. XPEDX Merger - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 62.4	$ 60.5
Purchase accounting adjustment		0.6
Change in fair value adjustment recorded in other expense (income), net	(1.7)	1.3
Ending balance	$ 60.7	$ 62.4

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Thousands	Jul. 01, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Business Acquisition [Line Items]
Common stock, shares issued (in Shares)	16,000	16,000		16,000		16,000
Common stock shares outstanding (in shares)	16,000	16,000		16,000		16,000
Weighted-average shares outstanding - basic and diluted (in shares)		16,000	8,160	16,000	8,160
UWW Holdings, Inc. XPEDX Merger
Business Acquisition [Line Items]
Business acquisition, equity issued, number of shares	7,840

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Income from continuing operations	$ 4.3	$ 2.9	$ 2.1	$ 8.5
Loss from discontinued operations, net of income taxes	0	0	0	(0.1)
Net income	$ 4.3	$ 2.9	$ 2.1	$ 8.4
Weighted-average shares outstanding - basic and diluted (in shares)	16,000	8,160	16,000	8,160
Antidilutive stock-based awards excluded from computation of diluted earnings per share (in shares)	60	0	60	0
Performance stock-based awards excluded from computation of diluted earnings per share because performance conditions had not been met (in shares)	240	0	240	0

Accumulated Other Comprehensi51

Accumulated Other Comprehensive Loss (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Equity [Abstract]
Foreign currency translation adjustments	$ (21,200,000)		$ (21,200,000)		$ (14,700,000)
Adjustments to pension and other benefit liabilities, net of tax	(7,400,000)		(7,400,000)		(7,400,000)
Accumulated other comprehensive loss	(28,600,000)		(28,600,000)		$ (22,100,000)
Reclassification out of AOCI	$ 0	$ 0	$ 0	$ 0

Equity-Based Incentive Plans -

Equity-Based Incentive Plans - Narrative (Details) $ / shares in Units, $ in Millions	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)tranche$ / sharesshares	Jun. 30, 2014USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $		$ 0.9	$ 3	$ 1.9	$ 4
Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation not yet recognized | $	$ 13.3	$ 13.3		$ 13.3
Compensation not yet recognized, period for recognition				2 years 8 months
Omnibus Incentive Plan | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, weighted average grant date fair value (in dollars per share) | $ / shares				$ 51.79
Grants in period (in shares)				64,000
Award vesting period				3 years
Omnibus Incentive Plan | Performance Condition Stock Units (PCSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, weighted average grant date fair value (in dollars per share) | $ / shares				$ 51.79
Grants in period (in shares)				160,000
Award vesting period				3 years
Maximum percent of target award				200.00%
Number of tranches | tranche				3
Omnibus Incentive Plan | Market Condition Performance Stock Units (MCPSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, weighted average grant date fair value (in dollars per share) | $ / shares				$ 63.21
Grants in period (in shares)				96,000
Award vesting period				3 years
Maximum percent of target award				200.00%
Number of tranches | tranche				3
Expected volatility rate				25.00%
Risk free interest rate				1.10%
Deferred Share Units (DSUs) [Member] | Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement, shares issued	27,424
Deferred compensation arrangement, shares per award	1
Deferred compensation arrangement, allocated share-based compensation expense | $	$ 1
Grants in period, weighted average grant date fair value (in dollars per share) | $ / shares	$ 36.46

Equity-Based Incentive Plans 53

Equity-Based Incentive Plans - Stock Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-restructuring stock-based compensation	$ 0.9	$ 3	$ 1.9	$ 4
International Paper Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-restructuring stock-based compensation		3.2		4.3
Income tax benefit related to stock-based compensation		$ 0.3		$ 1.3

Commitments and Contingencies (

Commitments and Contingencies (Details) - 6 months ended Jun. 30, 2015 - state	Total
Loss Contingencies [Line Items]
Additional states joining escheat audit	7
Minimum
Loss Contingencies [Line Items]
Escheat audit period	2 years
Maximum
Loss Contingencies [Line Items]
Escheat audit period	4 years

Segment Information - Net Sales

Segment Information - Net Sales and Other Measures by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Net sales	$ 2,159.3	$ 1,329	$ 4,297.2	$ 2,636.4
Adjusted EBITDA	40.7	17.6	69.1	30.2
Depreciation and amortization	15.3	4.3	28.8	8.9
Restructuring charges (income)	2.2	(0.9)	5.6	(1.1)
Operating Segments | Print
Segment Reporting Information [Line Items]
Net sales	812.5	546.3	1,633.2	1,091.2
Adjusted EBITDA	18.4	9.3	33.9	17.6
Depreciation and amortization	3.4	1.2	6.8	2.4
Restructuring charges (income)	0.8	(0.3)	1.6	(0.4)
Operating Segments | Publishing
Segment Reporting Information [Line Items]
Net sales	294.4	188	603.9	377.1
Adjusted EBITDA	7.4	3.7	13.8	7.4
Depreciation and amortization	1	0.2	1.6	0.3
Restructuring charges (income)	0	0	0	0
Operating Segments | Packaging
Segment Reporting Information [Line Items]
Net sales	699.6	410.3	1,374.8	804.5
Adjusted EBITDA	51.8	25.7	97.5	51.3
Depreciation and amortization	4	0.7	7.8	1.5
Restructuring charges (income)	0.5	(0.3)	1.4	(0.2)
Operating Segments | Facility Solutions
Segment Reporting Information [Line Items]
Net sales	324.5	184.4	633.6	363.6
Adjusted EBITDA	10.6	2.8	17.5	2.9
Depreciation and amortization	2.1	0.4	3.9	0.9
Restructuring charges (income)	0.4	(0.3)	1.3	(0.5)
Corporate and Other
Segment Reporting Information [Line Items]
Net sales	28.3	0	51.7	0
Adjusted EBITDA	(47.5)	(23.9)	(93.6)	(49)
Depreciation and amortization	4.8	1.8	8.7	3.8
Restructuring charges (income)	$ 0.5	$ 0	$ 1.3	$ 0

Segment Information - Reconcili

Segment Information - Reconciliation of Conslidated Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting [Abstract]
Income from continuing operations before income taxes	$ 10.8	$ 5	$ 8.7	$ 14.3
Interest expense, net	6.4	0	12.8	0
Depreciation and amortization	15.3	4.3	28.8	8.9
Restructuring charges (income)	2.2	(0.9)	5.6	(1.1)
Non-restructuring stock-based compensation	0.9	3	1.9	4
LIFO expense (income)	(4.8)	3.4	(10)	(0.3)
Non-restructuring severance charges	1	0.7	1.4	2.4
Merger and integration expenses	10.3	2.1	20.3	2.1
Fair value adjustments on TRA contingent liability	(1.7)	0	(0.4)	0
Other	0.3	0	0	(0.1)
Total Adjusted EBITDA	$ 40.7	$ 17.6	$ 69.1	$ 30.2

Subsequent Event (Details)

Subsequent Event (Details) - Jul. 31, 2015 - Interest rate cap - Cash flow hedging - Subsequent event - USD ($) $ in Millions	Total
Subsequent Event [Line Items]
Derivative, notional amount	$ 392.9
LIBOR
Subsequent Event [Line Items]
Derivative, basis spread on variable rate	3.00%