Veritiv (VRTV) 10-Q 9 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 06, 2016
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	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		16,000,921

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ 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 (including sales to related party of $9.1, $8.0, $18.1 and $17.0, respectively)	$ 2,060.8	$ 2,159.3	$ 4,080.6	$ 4,297.2
Cost of products sold (including purchases from related party of $46.6, $67.1, $102.9 and $136.5, respectively) (exclusive of depreciation and amortization shown separately below)	1,687.9	1,768.3	3,342.4	3,530.2
Distribution expenses	121.7	129.5	249.2	260.2
Selling and administrative expenses	207.7	218	408.6	428.6
Depreciation and amortization	13.6	15.3	27.1	28.8
Integration expenses	6.1	10.3	12.3	20.3
Restructuring charges (income)	(0.3)	2.2	1.4	5.6
Operating income	24.1	15.7	39.6	23.5
Interest expense, net	6.4	6.4	12.9	12.8
Other expense (income), net	3.6	(1.5)	5.1	2
Income before income taxes	14.1	10.8	21.6	8.7
Income tax expense	6.2	6.5	10.4	6.6
Net income	$ 7.9	$ 4.3	$ 11.2	$ 2.1
Basic and diluted earnings (loss) per share (in dollars per share)	$ 0.49	$ 0.27	$ 0.70	$ 0.13
Weighted average shares outstanding - basic and diluted (in shares)	16,000	16,000	16,000	16,000

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Related party sales	$ 9.1	$ 8	$ 18.1	$ 17
Related party cost of products sold	$ 46.6	$ 67.1	$ 102.9	$ 136.5

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Loss) - 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	$ 7.9	$ 4.3	$ 11.2	$ 2.1
Other comprehensive income (loss):
Foreign currency translation adjustments	(1.6)	0.1	2.2	(6.5)
Change in fair value of cash flow hedge, net of $0.1 and $0.2 tax for 2016	0	0	(0.3)	0
Pension liability adjustments, net of $0.0 and $0.1 tax for 2016	0.1	0	0.2	0
Other comprehensive income (loss)	(1.5)	0.1	2.1	(6.5)
Total comprehensive income (loss)	$ 6.4	$ 4.4	$ 13.3	$ (4.4)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Change in fair value of cash flow hedge, tax	$ 0.1	$ 0.2
Pension liability adjustments, tax	$ 0	$ 0.1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 46.1	$ 54.4
Accounts receivable, less allowances of $31.7 and $33.3, respectively	999.2	1,037.5
Related party receivable	4.6	3.9
Inventories	692.9	720.6
Other current assets	110.4	108.8
Total current assets	1,853.2	1,925.2
Property and equipment, net	356.4	363.7
Goodwill	50.2	50.2
Other intangibles, net	28.4	30.2
Deferred income tax assets	67	73.3
Other non-current assets	30.9	34.3
Total assets	2,386.1	2,476.9
Current liabilities:
Accounts payable	604.1	565.1
Related party payable	11.1	10.7
Accrued payroll and benefits	96.7	120.5
Other accrued liabilities	90.6	100.4
Current maturities of long-term debt	2.6	2.8
Financing obligations to related party, current portion	14.9	14.7
Total current liabilities	820	814.2
Long-term debt, net of current maturities	697.5	800.5
Financing obligations to related party, less current portion	187	197.8
Defined benefit pension obligations	27.8	28.7
Other non-current liabilities	105.3	105.6
Total liabilities	1,837.6	1,946.8
Commitments and contingencies (Note 10)
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	571.3	566.2
Accumulated earnings (deficit)	9.9	(1.3)
Accumulated other comprehensive loss	(32.9)	(35)
Total shareholders' equity	548.5	530.1
Total liabilities and shareholders' equity	$ 2,386.1	$ 2,476.9

Condensed Consolidated Balance7

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 31.7	$ 33.3
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 Stateme8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating Activities
Net income	$ 11.2	$ 2.1
Depreciation and amortization	27.1	28.8
Amortization of deferred financing fees	2.2	2.2
Provision for allowance for doubtful accounts	(2.6)	5.8
Deferred income tax provision	6.5	5.5
Stock-based compensation	5.1	1.9
Other non-cash items, net	4.1	2.6
Changes in operating assets and liabilities
Accounts receivable and related party receivable	43.8	84.6
Inventories	31.9	(44.2)
Accounts payable and related party payable	36.9	53.1
Accrued payroll and benefits	(28.8)	(6.3)
Other	(14.6)	(11.7)
Net cash provided by operating activities	122.8	124.4
Investing Activities
Property and equipment additions	(17.8)	(22.6)
Proceeds from asset sales	4.9	0.2
Net cash used for investing activities	(12.9)	(22.4)
Financing Activities
Change in book overdrafts	0.9	(18.5)
Borrowings of long-term debt	2,202.5	2,292.8
Repayments of long-term debt	(2,308.8)	(2,346.3)
Payments under equipment capital lease obligations	(1.8)	(2)
Payments under financing obligations to related party	(11.2)	(6.8)
Net cash used for financing activities	(118.4)	(80.8)
Effect of exchange rate changes on cash	0.2	0.6
Net change in cash	(8.3)	21.8
Cash at beginning of period	54.4	57.6
Cash at end of period	46.1	79.4
Supplemental Cash Flow Information
Cash paid for income taxes, net of refunds	2	1.1
Cash paid for interest	10.3	10.5
Non-Cash Investing and Financing Activities
Non-cash additions to property and equipment	$ 1.9	$ 5

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
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 and facility solutions. Additionally, Veritiv provides logistics and supply chain management solutions to its customers. Veritiv was established in 2014, following the merger of International Paper Company's xpedx distribution solutions business ("xpedx") and UWW Holdings, Inc. ("UWWH"), the parent company of Unisource Worldwide, Inc. ("Unisource") (the "Merger"). The Company operates from approximately 180 distribution centers primarily throughout the U.S., Canada and Mexico. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. 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 U.S. 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 for the year ended December 31, 2015. In the opinion of management, all adjustments, including 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. All significant intercompany transactions between Veritiv's businesses have been eliminated. Following the Merger, certain corporate and other related functions continued to be provided by International Paper under a transition services agreement. During the three and six months ended June 30, 2015 , the Company recognized $3.2 million and $8.8 million in selling and administrative expenses related to this agreement. As of December 31, 2015, all of the functions originally provided by International Paper under this agreement have been fully transitioned to the Company. 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 Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers The standard will replace existing revenue recognition standards and significantly expand the disclosure requirements for revenue arrangements. It may be adopted either retrospectively or on a modified retrospective basis to new contracts and existing contracts with remaining performance obligations as of the effective date. January 1, 2018; early adoption date is no earlier than the annual period beginning after December 15, 2016 The Company is currently evaluating the alternative methods of adoption (full retrospective or modified retrospective), and the effect on its Consolidated Financial Statements and related disclosures. The Company plans to adopt this ASU on January 1, 2018. ASU 2015-11, Simplifying the Measurement of Inventory The standard 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 measured by either the last-in first-out (LIFO) method or retail inventory method. January 1, 2017 The Company plans to adopt this ASU on January 1, 2017. Given that the majority (approximately 87% of the June 30, 2016 inventory balance) of the Company's inventory is measured using LIFO, it is not expected that the adoption of these provisions will have a material effect on its Consolidated Financial Statements. ASU 2016-02, Leases (Topic 842) The standard requires lessees to put most leases on their balance sheet but recognize expenses in their statement of operations in a manner similar to current accounting guidance. The new standard also eliminates the current guidance related to real estate specific provisions. January 1, 2019; early adoption is permitted The Company is currently evaluating the impact the ASU will have on its Consolidated Financial Statements and related disclosures. The Company plans to adopt this ASU on January 1, 2019. ASU 2016-09, Compensation-Stock Compensation (Topic 718) The standard was issued as part of the Financial Accounting Standards Board's simplification initiative. The areas for simplification involve several aspects of the accounting for share-based payment transactions, including income tax consequences, award classification as either equity or liabilities, and classification on the statement of cash flows. January 1, 2017; early adoption is permitted The Company adopted this ASU on January 1, 2016. The adoption did not materially impact the financial statements or related disclosures. ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) The standard will replace the currently required incurred loss impairment methodology with guidance that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to be considered in making credit loss estimates. January 1, 2020; early adoption for fiscal years beginning after December 15, 2018 The Company is currently evaluating the impact the ASU will have on its Consolidated Financial Statements and related disclosures. The Company plans to adopt this ASU on January 1, 2020.

Integration and Restructuring C

Integration and Restructuring Charges	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Integration and Restructuring Charges	2. INTEGRATION AND RESTRUCTURING CHARGES Integration Charges The Company currently expects integration and restructuring charges associated with achieving anticipated cost savings and other synergies from the Merger to be approximately $225 million through 2017, including approximately $55 million for capital expenditures primarily consisting of information technology infrastructure, systems integration and planning. Approximately $27 million of transaction-related expenses incurred at the time of the Merger are excluded from the $225 million estimate of integration and restructuring charges. Through June 30, 2016 , the Company has incurred approximately $161 million in charges, including approximately $50 million for capital expenditures. During the three and six months ended June 30, 2016 and 2015 , Veritiv incurred costs to integrate the combined businesses of xpedx and Unisource. Integration expenses include professional services and project management fees, internally dedicated integration management resources, 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 integration expenses: Three Months Ended Six Months Ended (in millions) 2016 2015 2016 2015 Integration management $ 2.0 $ — $ 3.8 $ — Retention compensation 0.9 3.1 2.0 6.6 Information technology conversion costs 1.3 2.2 2.4 4.3 Rebranding 0.5 1.7 1.2 2.5 Legal, consulting and other professional fees 0.5 2.5 1.0 5.4 Other 0.9 0.8 1.9 1.5 Total integration expenses $ 6.1 $ 10.3 $ 12.3 $ 20.3 Veritiv Restructuring Plan As part of the 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 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. As part of its restructuring efforts, the Company continues to evaluate its operations outside of North America to identify additional cost saving opportunities. The Company has elected to restructure certain of its operations in specific countries, which included staff reductions, lease terminations, and facility closures. Related to these company-wide initiatives, the Company recorded restructuring income of $0.3 million , driven primarily by a $2.7 million gain on the sale of a closed facility, and charges of $2.2 million for the three months ended June 30, 2016 and 2015 , respectively. The Company recorded restructuring charges of $1.4 million and $5.6 million during the six months ended June 30, 2016 and 2015 , respectively. See Note 11, 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 following is a summary of the Company's restructuring activity for the three and six months ended June 30, 2016 : (in millions) Severance and Related Costs Other Direct Costs Non-Cash Items Total Balance at December 31, 2015 $ 1.7 $ 0.4 $ — $ 2.1 Costs incurred 0.7 0.3 0.7 1.7 Payments (0.9 ) (0.4 ) — (1.3 ) Other adjustments — — (0.7 ) (0.7 ) Balance at March 31, 2016 1.5 0.3 — 1.8 Costs incurred 0.9 1.5 (2.7 ) (0.3 ) Payments (0.6 ) (1.0 ) — (1.6 ) Other adjustments — — 2.7 2.7 Balance at June 30, 2016 $ 1.8 $ 0.8 $ — $ 2.6 The following is a summary of the Company's restructuring activity for the three and six months ended June 30, 2015 : (in millions) Severance and Related Costs Other Direct Costs Total Balance 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 ) Balance 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 ) Balance at June 30, 2015 $ 2.8 $ 1.8 $ 4.6

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	3. DEBT The Company's long-term debt obligations were as follows: (in millions) June 30, 2016 December 31, 2015 Asset-Based Lending Facility (the "ABL Facility") $ 692.0 $ 795.5 Equipment capital lease obligations (1) 8.1 7.8 Total debt 700.1 803.3 Less: current portion of long-term debt (2.6 ) (2.8 ) Long-term debt, net of current maturities $ 697.5 $ 800.5 (1) Equipment capital lease obligations include $2.6 million and $0.7 million related to the Toronto build-to-suit arrangement for the six months ended June 30, 2016 and for the year ended December 31, 2015 , respectively. 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, 2016 , the available additional borrowing capacity under the ABL Facility was approximately $451.3 million .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	4. INCOME TAXES The Company’s provision for income taxes for the three and six months ended June 30, 2016 and 2015 is based on the estimated annual effective tax rate, plus any discrete items. The following table presents the provision for income taxes and the effective tax rates for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, (in millions) 2016 2015 2016 2015 Income before income taxes $ 14.1 $ 10.8 $ 21.6 $ 8.7 Income tax expense $ 6.2 $ 6.5 $ 10.4 $ 6.6 Effective tax rate 44.0 % 60.2 % 48.1 % 75.9 % The difference between the Company’s effective tax rate for the three and six months ended June 30, 2016 and 2015 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, and state income taxes (net of federal income tax benefit). 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.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	5. 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 related private placement, Georgia-Pacific, as joint owner of the sole stockholder of UWWH, is a related party. The following tables summarize the financial impact of these related party transactions with Georgia-Pacific: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2016 2015 2016 2015 Sales to Georgia-Pacific, reflected in net sales $ 9.1 $ 8.0 $ 18.1 $ 17.0 Purchases of inventory from Georgia-Pacific, recognized in cost of products sold $ 46.6 $ 67.1 $ 102.9 $ 136.5 (in millions) June 30, 2016 December 31, 2015 Inventories purchased from Georgia-Pacific that remained on Veritiv's balance sheet $ 27.0 $ 25.2 Related party payable to Georgia-Pacific $ 11.1 $ 10.7 Related party receivable from Georgia-Pacific $ 4.6 $ 3.9 In April 2016, Veritiv assumed ownership of a warehouse and distribution facility located in Austin, Texas that was subleased from Georgia-Pacific. The Company exercised its right of first refusal and matched a $5.4 million offer from an unrelated third party to purchase the facility directly from the owner. This transaction was accounted for as a settlement of the financing obligation related to the facility. Accordingly, Veritiv recognized a $1.3 million loss on the transaction, which is reflected in other expense (income), net, on the Condensed Consolidated Statements of Income.

Defined Benefit Plans

Defined Benefit Plans	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Defined Benefit Plan	6. DEFINED BENEFIT PLANS In conjunction with the Merger, Veritiv assumed responsibility for Unisource’s defined benefit 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, 2016 Three 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 $ 0.5 $ 0.0 Interest cost 0.9 0.8 0.9 0.9 Expected return on plan assets (1.3 ) (0.9 ) (1.3 ) (0.9 ) Amortization of net loss 0.1 0.0 — — Net periodic benefit cost (credit) $ 0.2 $ (0.1 ) $ 0.1 $ 0.0 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 (in millions) U.S. Canada U.S. Canada Components of net periodic benefit cost (credit): Service cost $ 0.9 $ 0.1 $ 0.9 $ 0.1 Interest cost 1.8 1.6 1.7 1.7 Expected return on plan assets (2.6 ) (1.8 ) (2.7 ) (1.8 ) Amortization of net loss 0.1 0.1 — — Net periodic benefit cost (credit) $ 0.2 $ 0.0 $ (0.1 ) $ 0.0

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. FAIR VALUE MEASUREMENTS At June 30, 2016 and December 31, 2015 , 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 (Level 2 data), 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 ("TRA") at fair value using a discounted cash flow model that reflected management's expectations about probability of payment. The fair value of the TRA is a Level 3 measurement which relied upon both Level 2 data (publicly observable data such as market interest rates) and Level 3 data (internal data such as the Company’s projected revenues, taxable income and assumptions about 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 Statements of Income. At June 30, 2016 , the Company remeasured the contingent liability using a discount rate of 4.4% . The following table provides a reconciliation of the beginning and ending balance of the contingent liability for the three and six months ended June 30, 2016 : (in millions) Contingent Liability Balance at December 31, 2015 $ 63.0 Change in fair value adjustment recorded in other expense (income), net 1.8 Balance at March 31, 2016 64.8 Change in fair value adjustment recorded in other expense (income), net 2.0 Balance at June 30, 2016 $ 66.8 There have been no transfers between the fair value measurement levels for the three and six months ended June 30, 2016 . 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, 2016
Earnings Per Share [Abstract]
Earnings Per Share	8. 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. A summary of the numerators and denominators used in the basic and diluted EPS calculation is as follows: Three Months Ended Six Months Ended (in millions, except per share data) 2016 2015 2016 2015 Numerator: Net income $ 7.9 $ 4.3 $ 11.2 $ 2.1 Denominator: Weighted average number of shares outstanding – basic and diluted 16.00 16.00 16.00 16.00 Earnings per share: Basic and diluted earnings per share $ 0.49 $ 0.27 $ 0.70 $ 0.13 Antidilutive stock-based awards excluded from computation of diluted EPS 0.20 0.06 0.20 0.06 Performance stock-based awards excluded from computation of diluted EPS because performance conditions had not been met 0.34 0.24 0.34 0.24

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	9. ACCUMULATED OTHER COMPREHENSIVE LOSS The following table provides the components of accumulated other comprehensive loss ("AOCL") at June 30, 2016 (amounts are shown net of their related income tax effect, if any): (in millions) Foreign currency translation adjustments Retirement liabilities Interest rate swap AOCL Balance at December 31, 2015 $ (27.1 ) $ (7.4 ) $ (0.5 ) $ (35.0 ) Unrealized net gains (losses) arising during the year 3.8 — (0.3 ) 3.5 Amounts reclassified from AOCL — 0.1 — 0.1 Net current period other comprehensive income (loss) 3.8 0.1 (0.3 ) 3.6 Balance at March 31, 2016 (23.3 ) (7.3 ) (0.8 ) (31.4 ) Unrealized net losses arising during the year (1.6 ) — 0.0 (1.6 ) Amounts reclassified from AOCL — 0.1 — 0.1 Net current period other comprehensive income (loss) (1.6 ) 0.1 — (1.5 ) Balance at June 30, 2016 $ (24.9 ) $ (7.2 ) $ (0.8 ) $ (32.9 ) The following table provides the components of AOCL at June 30, 2015 (amounts are shown net of their related income tax effect, if any): (in millions) Foreign currency translation adjustments Retirement liabilities AOCL Balance at December 31, 2014 $ (14.7 ) $ (7.4 ) $ (22.1 ) Unrealized net losses arising during the year (6.6 ) — (6.6 ) Net current period other comprehensive loss (6.6 ) — (6.6 ) Balance at March 31, 2015 (21.3 ) (7.4 ) (28.7 ) Unrealized net gains arising during the year 0.1 — 0.1 Net current period other comprehensive income 0.1 — 0.1 Balance at June 30, 2015 $ (21.2 ) $ (7.4 ) $ (28.6 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. 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 four years or more 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, 2016
Segment Reporting [Abstract]
Segment Information	11. SEGMENT INFORMATION The following tables present net sales, Adjusted EBITDA (earnings before interest, income taxes, depreciation and amortization, restructuring charges (income), stock-based compensation expense, LIFO (income) expense, non-restructuring severance charges, integration expenses, fair value adjustments on the contingent liability associated with the TRA and certain other adjustments) and certain other measures for each of the reportable segments and total operations for the periods presented: (in millions) Print Publishing Packaging Facility Solutions Corporate & Other Total Three Months Ended June 30, 2016 Net sales $ 751.7 $ 252.5 $ 704.8 $ 322.0 $ 29.8 $ 2,060.8 Adjusted EBITDA 19.7 5.9 59.2 13.9 (48.6 ) 50.1 Depreciation and amortization 3.2 0.8 3.1 1.5 5.0 13.6 Restructuring charges (income) (0.6 ) — 0.1 0.2 — (0.3 ) 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 Six Months Ended June 30, 2016 Net sales 1,510.8 514.8 1,376.3 623.0 55.7 4,080.6 Adjusted EBITDA 35.7 9.9 105.9 21.4 (87.9 ) 85.0 Depreciation and amortization 6.4 1.7 6.1 3.0 9.9 27.1 Restructuring charges 0.3 — 0.4 0.5 0.2 1.4 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 The table below presents a reconciliation of income before income taxes as reflected in the Condensed Consolidated Statements of Income to total Adjusted EBITDA: Three Months Ended Six Months Ended (in millions) 2016 2015 2016 2015 Income before income taxes $ 14.1 $ 10.8 $ 21.6 $ 8.7 Interest expense, net 6.4 6.4 12.9 12.8 Depreciation and amortization 13.6 15.3 27.1 28.8 Restructuring charges (income) (0.3 ) 2.2 1.4 5.6 Stock-based compensation 3.1 0.9 5.1 1.9 LIFO (income) expense 2.2 (4.8 ) (3.1 ) (10.0 ) Non-restructuring severance charges 1.4 1.0 2.2 1.4 Integration expenses 6.1 10.3 12.3 20.3 Fair value adjustments on TRA contingent liability 2.0 (1.7 ) 3.8 (0.4 ) Other 1.5 0.3 1.7 — Adjusted EBITDA $ 50.1 $ 40.7 $ 85.0 $ 69.1

Business and Summary of Signi20

Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. 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 U.S. 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 for the year ended December 31, 2015. In the opinion of management, all adjustments, including 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. All significant intercompany transactions between Veritiv's businesses have been eliminated. Following the Merger, certain corporate and other related functions continued to be provided by International Paper under a transition services agreement. During the three and six months ended June 30, 2015 , the Company recognized $3.2 million and $8.8 million in selling and administrative expenses related to this agreement. As of December 31, 2015, all of the functions originally provided by International Paper under this agreement have been fully transitioned to the Company.
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.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers The standard will replace existing revenue recognition standards and significantly expand the disclosure requirements for revenue arrangements. It may be adopted either retrospectively or on a modified retrospective basis to new contracts and existing contracts with remaining performance obligations as of the effective date. January 1, 2018; early adoption date is no earlier than the annual period beginning after December 15, 2016 The Company is currently evaluating the alternative methods of adoption (full retrospective or modified retrospective), and the effect on its Consolidated Financial Statements and related disclosures. The Company plans to adopt this ASU on January 1, 2018. ASU 2015-11, Simplifying the Measurement of Inventory The standard 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 measured by either the last-in first-out (LIFO) method or retail inventory method. January 1, 2017 The Company plans to adopt this ASU on January 1, 2017. Given that the majority (approximately 87% of the June 30, 2016 inventory balance) of the Company's inventory is measured using LIFO, it is not expected that the adoption of these provisions will have a material effect on its Consolidated Financial Statements. ASU 2016-02, Leases (Topic 842) The standard requires lessees to put most leases on their balance sheet but recognize expenses in their statement of operations in a manner similar to current accounting guidance. The new standard also eliminates the current guidance related to real estate specific provisions. January 1, 2019; early adoption is permitted The Company is currently evaluating the impact the ASU will have on its Consolidated Financial Statements and related disclosures. The Company plans to adopt this ASU on January 1, 2019. ASU 2016-09, Compensation-Stock Compensation (Topic 718) The standard was issued as part of the Financial Accounting Standards Board's simplification initiative. The areas for simplification involve several aspects of the accounting for share-based payment transactions, including income tax consequences, award classification as either equity or liabilities, and classification on the statement of cash flows. January 1, 2017; early adoption is permitted The Company adopted this ASU on January 1, 2016. The adoption did not materially impact the financial statements or related disclosures. ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) The standard will replace the currently required incurred loss impairment methodology with guidance that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to be considered in making credit loss estimates. January 1, 2020; early adoption for fiscal years beginning after December 15, 2018 The Company is currently evaluating the impact the ASU will have on its Consolidated Financial Statements and related disclosures. The Company plans to adopt this ASU on January 1, 2020.

Integration and Restructuring21

Integration and Restructuring Charges (Tables)	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Components of Integration Expense	The following table summarizes the components of integration expenses: Three Months Ended Six Months Ended (in millions) 2016 2015 2016 2015 Integration management $ 2.0 $ — $ 3.8 $ — Retention compensation 0.9 3.1 2.0 6.6 Information technology conversion costs 1.3 2.2 2.4 4.3 Rebranding 0.5 1.7 1.2 2.5 Legal, consulting and other professional fees 0.5 2.5 1.0 5.4 Other 0.9 0.8 1.9 1.5 Total integration expenses $ 6.1 $ 10.3 $ 12.3 $ 20.3
Schedule of Restructuring Reserve	The following is a summary of the Company's restructuring activity for the three and six months ended June 30, 2016 : (in millions) Severance and Related Costs Other Direct Costs Non-Cash Items Total Balance at December 31, 2015 $ 1.7 $ 0.4 $ — $ 2.1 Costs incurred 0.7 0.3 0.7 1.7 Payments (0.9 ) (0.4 ) — (1.3 ) Other adjustments — — (0.7 ) (0.7 ) Balance at March 31, 2016 1.5 0.3 — 1.8 Costs incurred 0.9 1.5 (2.7 ) (0.3 ) Payments (0.6 ) (1.0 ) — (1.6 ) Other adjustments — — 2.7 2.7 Balance at June 30, 2016 $ 1.8 $ 0.8 $ — $ 2.6 The following is a summary of the Company's restructuring activity for the three and six months ended June 30, 2015 : (in millions) Severance and Related Costs Other Direct Costs Total Balance 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 ) Balance 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 ) Balance at June 30, 2015 $ 2.8 $ 1.8 $ 4.6

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Obligations	The Company's long-term debt obligations were as follows: (in millions) June 30, 2016 December 31, 2015 Asset-Based Lending Facility (the "ABL Facility") $ 692.0 $ 795.5 Equipment capital lease obligations (1) 8.1 7.8 Total debt 700.1 803.3 Less: current portion of long-term debt (2.6 ) (2.8 ) Long-term debt, net of current maturities $ 697.5 $ 800.5 (1) Equipment capital lease obligations include $2.6 million and $0.7 million related to the Toronto build-to-suit arrangement for the six months ended June 30, 2016 and for the year ended December 31, 2015

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Tax (Benefit) Expense	The following table presents the provision for income taxes and the effective tax rates for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, (in millions) 2016 2015 2016 2015 Income before income taxes $ 14.1 $ 10.8 $ 21.6 $ 8.7 Income tax expense $ 6.2 $ 6.5 $ 10.4 $ 6.6 Effective tax rate 44.0 % 60.2 % 48.1 % 75.9 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Summarized Financial Impact of Transactions with Related Party	The following tables summarize the financial impact of these related party transactions with Georgia-Pacific: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2016 2015 2016 2015 Sales to Georgia-Pacific, reflected in net sales $ 9.1 $ 8.0 $ 18.1 $ 17.0 Purchases of inventory from Georgia-Pacific, recognized in cost of products sold $ 46.6 $ 67.1 $ 102.9 $ 136.5 (in millions) June 30, 2016 December 31, 2015 Inventories purchased from Georgia-Pacific that remained on Veritiv's balance sheet $ 27.0 $ 25.2 Related party payable to Georgia-Pacific $ 11.1 $ 10.7 Related party receivable from Georgia-Pacific $ 4.6 $ 3.9

Defined Benefit Plans (Tables)

Defined Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2016
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, 2016 Three 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 $ 0.5 $ 0.0 Interest cost 0.9 0.8 0.9 0.9 Expected return on plan assets (1.3 ) (0.9 ) (1.3 ) (0.9 ) Amortization of net loss 0.1 0.0 — — Net periodic benefit cost (credit) $ 0.2 $ (0.1 ) $ 0.1 $ 0.0 Six Months Ended June 30, 2016 Six Months Ended June 30, 2015 (in millions) U.S. Canada U.S. Canada Components of net periodic benefit cost (credit): Service cost $ 0.9 $ 0.1 $ 0.9 $ 0.1 Interest cost 1.8 1.6 1.7 1.7 Expected return on plan assets (2.6 ) (1.8 ) (2.7 ) (1.8 ) Amortization of net loss 0.1 0.1 — — Net periodic benefit cost (credit) $ 0.2 $ 0.0 $ (0.1 ) $ 0.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
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 three and six months ended June 30, 2016 : (in millions) Contingent Liability Balance at December 31, 2015 $ 63.0 Change in fair value adjustment recorded in other expense (income), net 1.8 Balance at March 31, 2016 64.8 Change in fair value adjustment recorded in other expense (income), net 2.0 Balance at June 30, 2016 $ 66.8

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A summary of the numerators and denominators used in the basic and diluted EPS calculation is as follows: Three Months Ended Six Months Ended (in millions, except per share data) 2016 2015 2016 2015 Numerator: Net income $ 7.9 $ 4.3 $ 11.2 $ 2.1 Denominator: Weighted average number of shares outstanding – basic and diluted 16.00 16.00 16.00 16.00 Earnings per share: Basic and diluted earnings per share $ 0.49 $ 0.27 $ 0.70 $ 0.13 Antidilutive stock-based awards excluded from computation of diluted EPS 0.20 0.06 0.20 0.06 Performance stock-based awards excluded from computation of diluted EPS because performance conditions had not been met 0.34 0.24 0.34 0.24

Accumulated Other Comprehensi28

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table provides the components of accumulated other comprehensive loss ("AOCL") at June 30, 2016 (amounts are shown net of their related income tax effect, if any): (in millions) Foreign currency translation adjustments Retirement liabilities Interest rate swap AOCL Balance at December 31, 2015 $ (27.1 ) $ (7.4 ) $ (0.5 ) $ (35.0 ) Unrealized net gains (losses) arising during the year 3.8 — (0.3 ) 3.5 Amounts reclassified from AOCL — 0.1 — 0.1 Net current period other comprehensive income (loss) 3.8 0.1 (0.3 ) 3.6 Balance at March 31, 2016 (23.3 ) (7.3 ) (0.8 ) (31.4 ) Unrealized net losses arising during the year (1.6 ) — 0.0 (1.6 ) Amounts reclassified from AOCL — 0.1 — 0.1 Net current period other comprehensive income (loss) (1.6 ) 0.1 — (1.5 ) Balance at June 30, 2016 $ (24.9 ) $ (7.2 ) $ (0.8 ) $ (32.9 ) The following table provides the components of AOCL at June 30, 2015 (amounts are shown net of their related income tax effect, if any): (in millions) Foreign currency translation adjustments Retirement liabilities AOCL Balance at December 31, 2014 $ (14.7 ) $ (7.4 ) $ (22.1 ) Unrealized net losses arising during the year (6.6 ) — (6.6 ) Net current period other comprehensive loss (6.6 ) — (6.6 ) Balance at March 31, 2015 (21.3 ) (7.4 ) (28.7 ) Unrealized net gains arising during the year 0.1 — 0.1 Net current period other comprehensive income 0.1 — 0.1 Balance at June 30, 2015 $ (21.2 ) $ (7.4 ) $ (28.6 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables present net sales, Adjusted EBITDA (earnings before interest, income taxes, depreciation and amortization, restructuring charges (income), stock-based compensation expense, LIFO (income) expense, non-restructuring severance charges, integration expenses, fair value adjustments on the contingent liability associated with the TRA and certain other adjustments) and certain other measures for each of the reportable segments and total operations for the periods presented: (in millions) Print Publishing Packaging Facility Solutions Corporate & Other Total Three Months Ended June 30, 2016 Net sales $ 751.7 $ 252.5 $ 704.8 $ 322.0 $ 29.8 $ 2,060.8 Adjusted EBITDA 19.7 5.9 59.2 13.9 (48.6 ) 50.1 Depreciation and amortization 3.2 0.8 3.1 1.5 5.0 13.6 Restructuring charges (income) (0.6 ) — 0.1 0.2 — (0.3 ) 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 Six Months Ended June 30, 2016 Net sales 1,510.8 514.8 1,376.3 623.0 55.7 4,080.6 Adjusted EBITDA 35.7 9.9 105.9 21.4 (87.9 ) 85.0 Depreciation and amortization 6.4 1.7 6.1 3.0 9.9 27.1 Restructuring charges 0.3 — 0.4 0.5 0.2 1.4 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
Reconciliation of Total Adjusted EBITDA to Net Income (Loss)	The table below presents a reconciliation of income before income taxes as reflected in the Condensed Consolidated Statements of Income to total Adjusted EBITDA: Three Months Ended Six Months Ended (in millions) 2016 2015 2016 2015 Income before income taxes $ 14.1 $ 10.8 $ 21.6 $ 8.7 Interest expense, net 6.4 6.4 12.9 12.8 Depreciation and amortization 13.6 15.3 27.1 28.8 Restructuring charges (income) (0.3 ) 2.2 1.4 5.6 Stock-based compensation 3.1 0.9 5.1 1.9 LIFO (income) expense 2.2 (4.8 ) (3.1 ) (10.0 ) Non-restructuring severance charges 1.4 1.0 2.2 1.4 Integration expenses 6.1 10.3 12.3 20.3 Fair value adjustments on TRA contingent liability 2.0 (1.7 ) 3.8 (0.4 ) Other 1.5 0.3 1.7 — Adjusted EBITDA $ 50.1 $ 40.7 $ 85.0 $ 69.1

Business and Summary of Signi30

Business and Summary of Significant Accounting Policies (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)Distribution_Center	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Distribution_Center	Jun. 30, 2015USD ($)
Accounting Policies [Line Items]
Number of distribution centers (more than) | Distribution_Center	180		180
Selling and administrative expenses	$ 207.7	$ 218	$ 408.6	$ 428.6
Percentage of FIFO Inventory	87.00%		87.00%
International Paper | Transaction Service Agreement (TSA)
Accounting Policies [Line Items]
Selling and administrative expenses		$ 3.2		$ 8.8

Integration and Restructuring31

Integration and Restructuring Charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended		24 Months Ended	42 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Integration and restructuring charges including capital expenditures							$ 161
Integration and restructuring charges, capital expenditures							$ 50
Restructuring charges (income)	$ (0.3)		$ 2.2		$ 1.4	$ 5.6
Veritiv Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges (income)	(0.3)	$ 1.7	2.2	$ 3.4	$ 1.4	$ 5.6
Scenario, Forecast
Restructuring Cost and Reserve [Line Items]
Integration and restructuring charges including capital expenditures								$ 225
Integration and restructuring charges, capital expenditures								55
Merger-related expenses								$ 27
Facility Closing | Veritiv Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges (income)	$ (2.7)		$ 2.2

Integration and Restructuring32

Integration and Restructuring Charges - Integration Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition [Line Items]
Total integration expenses	$ 6.1	$ 10.3	$ 12.3	$ 20.3
UWW Holdings, Inc. XPEDX Merger
Business Acquisition [Line Items]
Integration management	2	0	3.8	0
Retention compensation	0.9	3.1	2	6.6
Information technology conversion costs	1.3	2.2	2.4	4.3
Rebranding	0.5	1.7	1.2	2.5
Legal, consulting and other professional fees	0.5	2.5	1	5.4
Other	0.9	0.8	1.9	1.5
Total integration expenses	$ 6.1	$ 10.3	$ 12.3	$ 20.3

Integration and Restructuring33

Integration and Restructuring Charges - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2016	Jun. 30, 2015
Restructuring Reserve [Roll Forward]
Costs incurred	$ (0.3)		$ 2.2		$ 1.4	$ 5.6
Veritiv Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	1.8	$ 2.1	4.2	$ 3.9	2.1	3.9
Costs incurred	(0.3)	1.7	2.2	3.4	1.4	5.6
Payments	(1.6)	(1.3)	(1.8)	(3.1)
Other adjustments	2.7	(0.7)
Restructuring reserve, ending balance	2.6	1.8	4.6	4.2	2.6	4.6
Severance and Related Costs | Veritiv Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	1.5	1.7	2.9	3.7	1.7	3.7
Costs incurred	0.9	0.7	1	1.9
Payments	(0.6)	(0.9)	(1.1)	(2.7)
Other adjustments	0	0
Restructuring reserve, ending balance	1.8	1.5	2.8	2.9	1.8	2.8
Other Direct Costs | Veritiv Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0.3	0.4	1.3	0.2	0.4	0.2
Costs incurred	1.5	0.3	1.2	1.5
Payments	(1)	(0.4)	(0.7)	(0.4)
Other adjustments	0	0
Restructuring reserve, ending balance	0.8	0.3	$ 1.8	$ 1.3	0.8	$ 1.8
Non-Cash Items | Veritiv Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	0	0			0
Costs incurred	(2.7)	0.7
Payments	0	0
Other adjustments	2.7	(0.7)
Restructuring reserve, ending balance	$ 0	$ 0			$ 0

Debt - Long-Term Debt Obligatio

Debt - Long-Term Debt Obligations (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Equipment capital lease obligations	$ 8.1	$ 7.8
Total debt	700.1	803.3
Less: current portion of long-term debt	(2.6)	(2.8)
Long-term debt, net of current maturities	697.5	800.5
Line of Credit | Asset-Backed Lending Facility
Debt Instrument [Line Items]
Asset-Based Lending Facility (the ABL Facility)	$ 692	$ 795.5

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Capital lease obligations	$ 8.1	$ 7.8
Toronto Build-to-Suit Arrangement
Line of Credit Facility [Line Items]
Capital lease obligations	2.6	$ 0.7
Line of Credit | Asset-Backed Lending Facility
Line of Credit Facility [Line Items]
Remaining borrowing capacity	$ 451.3

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Benefit) (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 before income taxes	$ 14.1	$ 10.8	$ 21.6	$ 8.7
Income tax expense	$ 6.2	$ 6.5	$ 10.4	$ 6.6
Effective income tax rate (as percent)	44.00%	60.20%	48.10%	75.90%
Federal statutory income tax rate (as percent)	35.00%	35.00%	35.00%	35.00%

Related Party Transactions - Su

Related Party Transactions - Summarized Financial Impact of Transactions with Related Party (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Related party sales		$ 9.1	$ 8	$ 18.1	$ 17
Inventories		692.9		692.9		$ 720.6
Related party payable		11.1		11.1		10.7
Related party receivable		4.6		4.6		3.9
Georgia-Pacific
Related Party Transaction [Line Items]
Inventories		27		27		25.2
Related party payable		11.1		11.1		10.7
Related party receivable		4.6		4.6		$ 3.9
Sales | Georgia-Pacific
Related Party Transaction [Line Items]
Related party sales		9.1	8	18.1	17
Cost of products sold | Georgia-Pacific
Related Party Transaction [Line Items]
Purchases from related party		$ 46.6	$ 67.1	$ 102.9	$ 136.5
Purchase of Austin Facility | Georgia-Pacific
Related Party Transaction [Line Items]
Purchases from related party	$ 5.4
Settlement of Financing Obligation | Other expense (income) | Georgia-Pacific
Related Party Transaction [Line Items]
Gain (loss) on settlement of financing obligation	$ (1.3)

Defined Benefit Plans - Net Per

Defined Benefit Plans - Net Periodic Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
U.S. Defined Benefit Pension Plan
Components of net periodic benefit cost (credit):
Service cost	$ 0.5	$ 0.5	$ 0.9	$ 0.9
Interest cost	0.9	0.9	1.8	1.7
Expected return on plan assets	(1.3)	(1.3)	(2.6)	(2.7)
Amortization of net loss	0.1	0	0.1	0
Net periodic benefit cost (credit)	0.2	0.1	0.2	(0.1)
Canada Pension Plan
Components of net periodic benefit cost (credit):
Service cost	0	0	0.1	0.1
Interest cost	0.8	0.9	1.6	1.7
Expected return on plan assets	(0.9)	(0.9)	(1.8)	(1.8)
Amortization of net loss	0	0	0.1	0
Net periodic benefit cost (credit)	$ (0.1)	$ 0	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - UWW Holdings, Inc. XPEDX Merger - USD ($) $ in Millions	Jul. 01, 2014	Jun. 30, 2016
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		4.40%

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, 2016	Mar. 31, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 64.8	$ 63
Change in fair value adjustment recorded in other expense (income), net	2	1.8
Ending balance	$ 66.8	$ 64.8

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ 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	$ 7.9	$ 4.3	$ 11.2	$ 2.1
Weighted-average shares outstanding - basic and diluted (in shares)	16,000	16,000	16,000	16,000
Basic and diluted earnings per share (in Dollars per share)	$ 0.49	$ 0.27	$ 0.70	$ 0.13
Antidilutive stock-based awards excluded from computation of diluted earnings per share (in shares)	200	60	200	60
Performance stock-based awards excluded from computation of diluted earnings per share because performance conditions had not been met (in shares)	340	240	340	240

Accumulated Other Comprehensi42

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 530.1
Ending balance	$ 548.5
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(23.3)	(27.1)	$ (21.3)	$ (14.7)
Unrealized net gains (losses) arising during the year	(1.6)	3.8	0.1	(6.6)
Amounts reclassified from AOCL	0	0
Net current period other comprehensive income (loss)	(1.6)	3.8	0.1	(6.6)
Ending balance	(24.9)	(23.3)	(21.2)	(21.3)
Retirement liabilities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(7.3)	(7.4)	(7.4)	(7.4)
Unrealized net gains (losses) arising during the year	0	0	0	0
Amounts reclassified from AOCL	0.1	0.1
Net current period other comprehensive income (loss)	0.1	0.1	0	0
Ending balance	(7.2)	(7.3)	(7.4)	(7.4)
Interest rate swap
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(0.8)	(0.5)
Unrealized net gains (losses) arising during the year	0	(0.3)
Amounts reclassified from AOCL	0	0
Net current period other comprehensive income (loss)	0	(0.3)
Ending balance	(0.8)	(0.8)
AOCL
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(31.4)	(35)	(28.7)	(22.1)
Unrealized net gains (losses) arising during the year	(1.6)	3.5	0.1	(6.6)
Amounts reclassified from AOCL	0.1	0.1
Net current period other comprehensive income (loss)	(1.5)	3.6	0.1	(6.6)
Ending balance	$ (32.9)	$ (31.4)	$ (28.6)	$ (28.7)

Commitments and Contingencies (

Commitments and Contingencies (Details)	6 Months Ended
	Jun. 30, 2016state
Loss Contingencies [Line Items]
Additional states joining escheat audit	7
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, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net sales	$ 2,060.8	$ 2,159.3	$ 4,080.6	$ 4,297.2
Adjusted EBITDA	50.1	40.7	85	69.1
Depreciation and amortization	13.6	15.3	27.1	28.8
Costs incurred	(0.3)	2.2	1.4	5.6
Operating Segments | Print
Segment Reporting Information [Line Items]
Net sales	751.7	812.5	1,510.8	1,633.2
Adjusted EBITDA	19.7	18.4	35.7	33.9
Depreciation and amortization	3.2	3.4	6.4	6.8
Costs incurred	(0.6)	0.8	0.3	1.6
Operating Segments | Publishing
Segment Reporting Information [Line Items]
Net sales	252.5	294.4	514.8	603.9
Adjusted EBITDA	5.9	7.4	9.9	13.8
Depreciation and amortization	0.8	1	1.7	1.6
Costs incurred	0	0	0	0
Operating Segments | Packaging
Segment Reporting Information [Line Items]
Net sales	704.8	699.6	1,376.3	1,374.8
Adjusted EBITDA	59.2	51.8	105.9	97.5
Depreciation and amortization	3.1	4	6.1	7.8
Costs incurred	0.1	0.5	0.4	1.4
Operating Segments | Facility Solutions
Segment Reporting Information [Line Items]
Net sales	322	324.5	623	633.6
Adjusted EBITDA	13.9	10.6	21.4	17.5
Depreciation and amortization	1.5	2.1	3	3.9
Costs incurred	0.2	0.4	0.5	1.3
Corporate and Other
Segment Reporting Information [Line Items]
Net sales	29.8	28.3	55.7	51.7
Adjusted EBITDA	(48.6)	(47.5)	(87.9)	(93.6)
Depreciation and amortization	5	4.8	9.9	8.7
Costs incurred	$ 0	$ 0.5	$ 0.2	$ 1.3

Segment Information - Reconcili

Segment Information - Reconciliation of Consolidated Adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting [Abstract]
Income before income taxes	$ 14.1	$ 10.8	$ 21.6	$ 8.7
Interest expense, net	6.4	6.4	12.9	12.8
Depreciation and amortization	13.6	15.3	27.1	28.8
Restructuring charges (income)	(0.3)	2.2	1.4	5.6
Stock-based compensation	3.1	0.9	5.1	1.9
LIFO (income) expense	2.2	(4.8)	(3.1)	(10)
Non-restructuring severance charges	1.4	1	2.2	1.4
Integration expenses	6.1	10.3	12.3	20.3
Fair value adjustments on TRA contingent liability	2	(1.7)	3.8	(0.4)
Other	1.5	0.3	1.7	0
Adjusted EBITDA	$ 50.1	$ 40.7	$ 85	$ 69.1