Packaging Corporation of America (PKG) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	PKG
Entity Registrant Name	PACKAGING CORP OF AMERICA
Entity Central Index Key	75,677
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		97,002,435

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Net sales	$ 1,470.8	$ 1,518.9	$ 4,350.8	$ 4,418.7
Cost of sales	(1,142.5)	(1,198.6)	(3,427.9)	(3,486.2)
Gross profit	328.3	320.3	922.9	932.5
Selling, general, and administrative expenses	(112.7)	(119.6)	(345.9)	(359)
Other income (expense), net	3.8	(12.3)	(2.9)	(44)
Income from operations	219.4	188.4	574.1	529.5
Interest expense, net	(21.7)	(23.1)	(63.2)	(65.3)
Income before taxes	197.7	165.3	510.9	464.2
Income tax provision	(69.9)	(60.9)	(178.3)	(170.1)
Net income	$ 127.8	$ 104.4	$ 332.6	$ 294.1
Net income per common share:
Basic (in dollars per share)	$ 1.31	$ 1.06	$ 3.39	$ 2.99
Diluted (in dollars per share)	1.31	1.06	3.39	2.99
Dividends declared per common share	$ 0.55	$ 0.40	$ 1.65	$ 1.20
Statements of Comprehensive Income:
Net income	$ 127.8	$ 104.4	$ 332.6	$ 294.1
Foreign currency translation adjustment	0	(1.6)	2.8	(1.6)
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.5 million, $0.5 million, $1.6 million, and $1.6 million	0.9	0.9	2.6	2.6
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.4 million, $0.7 million, $4.2 million, and $2.2 million	2.1	1.1	6.5	3.1
Other comprehensive income	3	0.4	11.9	4.1
Comprehensive income	$ 130.8	$ 104.8	$ 344.5	$ 298.2

Consolidated Statements of Inc3

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.5 million, $0.5 million, $1.6 million, and $1.6 million	$ 0.5	$ 0.5	$ 1.6	$ 1.6
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.4 million, $0.7 million, $4.2 million, and $2.2 million	$ 1.4	$ 0.7	$ 4.2	$ 2.2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 186.9	$ 124.9
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $12.2 million and $11.3 million as of September 30, 2015, and December 31, 2014, respectively	683.5	646.1
Inventories	695.9	664.9
Prepaid expenses and other current assets	49.8	61.9
Federal and state income taxes receivable	0	5.1
Deferred income taxes	63.2	75.7
Total current assets	1,679.3	1,578.6
Property, plant, and equipment, net	2,842.5	2,857.6
Goodwill	544	546.8
Intangible assets, net	276.4	293.5
Other long-term assets	80	72
Total assets	5,422.2	5,348.5
Current liabilities:
Current maturities of long-term debt	6.5	6.5
Capital lease obligations	1.1	1.1
Accounts payable	337	330.5
Dividends payable	53.7	39.4
Federal and state income taxes payable	2.3	0
Accrued liabilities	209	220
Accrued interest	18.8	13.5
Total current liabilities	628.4	611
Long-term liabilities:
Long-term debt	2,319.3	2,348.9
Capital lease obligations	21.9	22.8
Deferred income taxes	402.7	409.9
Pension and postretirement benefit plans	376.9	361.7
Other long-term liabilities	58	72.8
Total long-term liabilities	$ 3,178.8	$ 3,216.1
Commitments and contingent liabilities
Stockholders' equity:
Common stock, par value $0.01 per share, 300.0 million shares authorized, 97.1 million and 98.4 million shares issued as of September 30, 2015, and December 31, 2014, respectively	$ 1	$ 1
Additional paid in capital	438.1	432.1
Retained earnings	1,317.9	1,242.2
Accumulated other comprehensive loss	(142)	(153.9)
Total stockholders' equity	1,615	1,521.4
Total liabilities and stockholders' equity	$ 5,422.2	$ 5,348.5

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $12.2 million and $11.3 million as of September 30, 2015, and December 31, 2014, respectively	$ 12.2	$ 11.3
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	97,100,000	98,400,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities:
Net income	$ 332.6	$ 294.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization of intangibles and deferred financing costs	273.7	296.5
Share-based compensation expense	13.7	11.6
Deferred income tax provision	1.2	17.4
Pension and postretirement benefits expense, net of contributions	24	19.2
(Gain) Loss on disposal of assets	(3)	2.1
Non-cash DeRidder restructuring items	(3.7)	6.3
Other, net	(9.7)	(1.7)
Increase in assets —
Accounts receivable	(37.5)	(75)
Inventories	(31)	(24.9)
Prepaid expenses and other current assets	(16.8)	(27.9)
Increase (decrease) in liabilities —
Accounts payable	(14.1)	(13)
Accrued liabilities	5.2	21.8
Federal and state income taxes payable / receivable	7.4	30.2
Net cash provided by operating activities	542	556.7
Cash Flows from Investing Activities:
Additions to property, plant, and equipment	(217.9)	(254.9)
Proceeds from sale of a business	23	0
Acquisition of business, net of cash acquired	0	(20.3)
Additions to other long-term assets	(9.2)	(11.6)
Other, net	1.3	3.2
Net cash used for investing activities	(202.8)	(283.6)
Cash Flows from Financing Activities:
Repayments of debt and capital lease obligations	(30.7)	(590.6)
Proceeds from issuance of debt	0	398.9
Financing costs paid	0	(3.2)
Common stock dividends paid	(147.3)	(118)
Repurchases of common stock	(98.1)	0
Proceeds from exercise of stock options	0	3.7
Excess tax benefits from stock-based awards	5.6	11.8
Shares withheld to cover employee restricted stock taxes	(7.4)	(12.1)
Other, net	0.7	(0.3)
Net cash used for financing activities	(277.2)	(309.8)
Net increase (decrease) in cash and cash equivalents	62	(36.7)
Cash and cash equivalents, beginning of period	124.9	191
Cash and cash equivalents, end of period	$ 186.9	$ 154.3

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation Packaging Corporation of America ("we," "us," "our," PCA," or the "Company") was incorporated on January 25, 1999. In April 1999, PCA acquired the containerboard and corrugated packaging products business of Pactiv Corporation (Pactiv), formerly known as Tenneco Packaging, Inc., a wholly owned subsidiary of Tenneco Inc. We are a large diverse manufacturer of both packaging and paper products. We are headquartered in Lake Forest, Illinois, and we operate primarily in the United States and have some converting and distribution operations in Canada. We report our business in three reportable segments: Packaging, Paper, and Corporate and Other. Our Packaging segment produces a wide variety of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers (collectively, white papers) and market pulp. Corporate and Other includes support staff services and related assets and liabilities, transportation assets, and activity related to other ancillary support operations. For more information about our segments, see Note 16 , Segment Information . In these consolidated financial statements, certain amounts in prior periods' consolidated financial statements have been reclassified to conform with the current period presentation. The consolidated financial statements of PCA as of September 30, 2015 , and for the three and nine months ended September 30, 2015 and 2014 , are unaudited but include all adjustments (consisting only of normal recurring adjustments) that management considers necessary for a fair presentation of such financial statements. The preparation of the consolidated financial statements involves the use of estimates and accruals. Actual results may vary from those estimates. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with Article 10 of SEC Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete audited financial statements. Operating results for the three and nine months ended September 30, 2015 , are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 . These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2014 . The consolidated financial statements include the accounts of PCA and its majority-owned subsidiaries after elimination of intercompany balances and transactions.

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions Sale of European and Mexican Operations On April 1, 2015, we completed the sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico for approximately $ 23.0 million . The sale included three locations in Europe and two locations in Mexico. Sales, net income, and total assets of these locations are not material to our consolidated financial position or results of operations in any period presented. The gain on the sale was insignificant. Crockett Packaging Acquisition On April 28, 2014, we acquired the assets of Crockett Packaging, a corrugated products manufacturer, for $21.2 million , before working capital adjustments. Sales and total assets of the acquired company are not material to our overall sales and total assets. In connection with the acquisition, we allocated the purchase price to the assets acquired and liabilities assumed based on estimates of the fair value at the date of the acquisition. See Note 3, Acquisitions, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K for additional information.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted income per common share for the periods presented (dollars and shares in millions, except per share data): Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Numerator: Net income $ 127.8 $ 104.4 $ 332.6 $ 294.1 Less: distributed and undistributed earnings allocated to participating securities (1.5 ) (1.4 ) (4.0 ) (4.4 ) Net income attributable to common shareholders $ 126.3 $ 103.0 $ 328.6 $ 289.7 Denominator: Weighted average basic common shares outstanding 96.5 97.1 96.8 96.9 Effect of dilutive securities 0.1 0.1 0.1 0.1 Diluted common shares outstanding 96.6 97.2 96.9 97.0 Basic income per common share $ 1.31 $ 1.06 $ 3.39 $ 2.99 Diluted income per common share $ 1.31 $ 1.06 $ 3.39 $ 2.99

Other Expense, Net

Other Expense, Net	9 Months Ended
	Sep. 30, 2015
Other Income and Expenses [Abstract]
Other Expense, Net	Other Income (Expense), Net The components of other income (expense), net, were as follows (dollars in millions): Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Integration-related and other costs (a) $ (2.4 ) $ (3.0 ) $ (9.0 ) $ (12.0 ) Sale of St. Helens paper mill site (b) 6.7 — 6.7 — Asset disposals and write-offs (5.0 ) (2.9 ) (9.7 ) (6.9 ) DeRidder restructuring (c) 3.8 (4.3 ) 3.6 (5.7 ) Refundable state tax credit (d) — — 3.6 — Class action lawsuit settlement (e) — — — (17.6 ) Other 0.7 (2.1 ) 1.9 (1.8 ) Total $ 3.8 $ (12.3 ) $ (2.9 ) $ (44.0 ) ___________ (a) Includes Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs. (b) In September 2015, we sold the remaining land, buildings, and equipment at our paper mill site in St. Helens, Oregon, where we ceased paper production in December 2012. We recorded a $6.7 million gain on the sale. In connection with the sale, we eliminated $11.2 million of asset retirement obligations that were assumed by the buyer. (c) Includes amounts from restructuring activities at our mill in DeRidder, Louisiana, including costs related to the conversion of the No. 3 newsprint machine to containerboard, our exit from the newsprint business, and other improvements. We completed the restructuring activities in first quarter 2015, but we recorded $3.8 million of income for services and equipment received for vendor settlements during the three and nine months ended September 30, 2015. (d) The nine months ended September 30, 2015 , includes a $3.6 million tax credit from the State of Louisiana related to our recent capital investment and the jobs retained at the DeRidder, Louisiana, mill. (e) The nine months ended September 30, 2014 , includes $17.6 million of costs for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended September 30, 2015 and 2014 , we recorded $69.9 million and $60.9 million of income tax expense and had an effective tax rate of 35.4% and 36.8% , respectively. For the nine months ended September 30, 2015 and 2014 , we recorded $178.3 million and $170.1 million of income tax expense and had an effective tax rate of 34.9% and 36.6% , respectively. Our effective tax rate may differ from the federal statutory income tax rate of 35.0% , due primarily to the effect of the domestic manufacturing deduction and state and local income taxes. The decreases in our effective tax rates for the three and nine months ended September 30, 2015, compared with the same periods in 2014, were primarily due to an increased domestic manufacturing deduction resulting from less tax net operating losses remaining from the acquisition of Boise Inc. During the three and nine months ended September 30, 2015 , there were no significant changes to our uncertain tax positions. For more information, see Note 6, Income Taxes, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K. During the nine months ended September 30, 2015 and 2014 , cash paid for taxes, net of refunds received, was $163.7 million and $110.8 million , respectively.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories We value our raw materials, work in process, and finished goods inventories using lower of cost, as determined by the average cost method, or market. Supplies and materials are valued at the first-in, first-out (FIFO) or average cost methods. The components of inventories were as follows (dollars in millions): September 30, December 31, Raw materials $ 271.5 $ 261.9 Work in process 13.9 11.3 Finished goods 206.3 216.3 Supplies and materials 204.2 175.4 Inventories $ 695.9 $ 664.9

Property, Plant, and Equipment

Property, Plant, and Equipment	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment	Property, Plant, and Equipment The components of property, plant, and equipment were as follows (dollars in millions): September 30, December 31, Land and land improvements $ 145.8 $ 143.5 Buildings 661.8 654.6 Machinery and equipment 4,671.7 4,508.0 Construction in progress 146.0 154.8 Other 58.7 54.5 Property, plant, and equipment, at cost 5,684.0 5,515.4 Less accumulated depreciation (2,841.5 ) (2,657.8 ) Property, plant, and equipment, net $ 2,842.5 $ 2,857.6 Depreciation expense for the three months ended September 30, 2015 and 2014 , was $79.6 million and $95.1 million , respectively. During the nine months ended September 30, 2015 and 2014 , depreciation expense was $243.5 million and $264.1 million , respectively. During the nine months ended September 30, 2015 and 2014 , we recognized $9.0 million , and $35.4 million , respectively, of incremental depreciation expense from shortening the useful lives of assets at our DeRidder, Louisiana mill as a result of restructuring activities. At September 30, 2015 , and December 31, 2014 , purchases of property, plant, and equipment included in accounts payable were $31.1 million and $13.9 million .

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill Goodwill represents the excess of the cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. At September 30, 2015 , and December 31, 2014 , we had $488.8 million and $491.6 million of goodwill recorded in our Packaging segment, respectively, and for both periods we had $55.2 million of goodwill recorded in our Paper segment on our Consolidated Balance Sheets. The decrease in goodwill during the nine months ended September 30, 2015 , relates primarily to the sale of our Hexacomb corrugated manufacturing operations in Europe and Mexico, as described in Note 2 , Acquisitions and Dispositions . Intangible Assets Intangible assets are primarily comprised of customer relationships and trademarks and trade names. The weighted average remaining useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions): September 30, 2015 December 31, 2014 Weighted Average Remaining Useful Life (in Years) Gross Accumulated Weighted Average Remaining Useful Life (in Years) Gross Accumulated Customer relationships 13.5 $ 311.5 $ 52.2 14.3 $ 311.5 $ 36.9 Trademarks and trade names 12.8 21.8 4.7 13.4 21.8 3.0 Other 1.5 0.2 0.2 2.2 0.2 0.1 Total intangible assets (excluding goodwill) 13.5 $ 333.5 $ 57.1 14.2 $ 333.5 $ 40.0 Amortization expense for both the three months ended September 30, 2015 and 2014 , was $5.7 million . During the nine months ended September 30, 2015 and 2014 , amortization expense was $17.1 million and $16.9 million , respectively.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2015
Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued Liabilities The components of accrued liabilities were as follows (dollars in millions): September 30, December 31, Compensation and benefits $ 109.9 $ 130.8 Medical insurance and workers’ compensation 31.0 27.0 Franchise, property, and sales and use taxes 23.3 17.5 Customer volume discounts and rebates 14.6 13.9 Environmental liabilities and asset retirement obligations 9.1 7.1 Severance, retention, and relocation 9.5 8.3 Other 11.6 15.4 Total $ 209.0 $ 220.0

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Debt During the nine months ended September 30, 2015 , we made principal payments of $25.0 million on our five -year term loan due October 2018, and $4.9 million on our seven -year term loan, due October 2020. On September 5, 2014, we issued $400.0 million of 3.65% fixed-rate senior notes due September 15, 2024, through a registered public offering. We used the proceeds of this offering and other cash from operations to repay $589.9 million of debt during the nine months ended September 30, 2014. For the nine months ended September 30, 2015 and 2014 , cash payments for interest were $58.6 million and $50.0 million , respectively. Included in interest expense, net, are amortization of treasury lock settlements and amortization of financing costs. For both the three months ended September 30, 2015 and 2014 , amortization of treasury lock settlements was $1.4 million , and for both the nine months ended September 30, 2015 and 2014 , amortization of treasury lock settlements was $4.2 million . For the three months ended September 30, 2015 and 2014 , amortization of financing costs was $0.5 million and $2.0 million , respectively. During the nine months ended September 30, 2015 and 2014 , amortization of financing costs was $1.3 million and $2.9 million . In connection with our debt repayments during the three months ended September 30, 2014, we expensed $1.5 million of deferred financing costs. For more information on our long-term debt and interest rates on that debt, see Note 10, Debt, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K. At September 30, 2015 , we had $1,647.2 million of fixed-rate senior notes and $678.6 million of variable-rate term loans outstanding. At September 30, 2015 , the fair value of our fixed-rate debt was estimated to be $1,711.9 million . The difference between the book value and fair value is due to the difference between the period-end market interest rate and the stated rate of our fixed-rate debt. We estimated the fair value of our fixed-rate debt using quoted market prices (Level 2 inputs) within the fair value hierarchy, which is further defined in Note 2, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K. The fair value of our variable-rate term debt approximates the carrying amount as our cost of borrowing is variable and approximates current market rates.

Employee Benefit Plans and Othe

Employee Benefit Plans and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans and Other Postretirement Benefits	Employee Benefit Plans and Other Postretirement Benefits The components of net periodic benefit cost for our pension plans were as follows (dollars in millions): Pension Plans Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Service cost $ 6.1 $ 5.8 $ 17.9 $ 17.4 Interest cost 11.6 11.5 34.6 34.4 Expected return on plan assets (13.3 ) (12.7 ) (39.8 ) (38.0 ) Net amortization of unrecognized amounts Prior service cost 1.4 1.6 4.2 4.9 Actuarial loss 2.1 0.2 6.4 0.4 Net periodic benefit cost $ 7.9 $ 6.4 $ 23.3 $ 19.1 PCA makes pension plan contributions that are sufficient to fund its actuarially determined costs, generally equal to the minimum amounts required by the Employee Retirement Income Security Act (ERISA). During the nine months ended September 30, 2015 , we made payments of $0.8 million to our nonqualified pension plans. We have no required minimum qualified contributions in 2015. The components of net periodic benefit cost for our postretirement plans were as follows (dollars in millions): Postretirement Plans Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Service cost $ 0.4 $ 0.4 $ 1.3 $ 1.2 Interest cost 0.3 0.3 0.9 0.9 Net amortization of unrecognized amounts Prior service cost — — — (0.1 ) Actuarial loss — — 0.1 0.1 Net periodic benefit cost $ 0.7 $ 0.7 $ 2.3 $ 2.1

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2015
Share-based Compensation [Abstract]
Share-based Compensation	Share-based Compensation The Company has a long-term equity incentive plan, which allows for grants of restricted stock, performance awards, stock appreciation rights, and stock options to directors, officers, and employees, as well as others who engage in services for PCA. The Company has not granted option awards since 2007. The plan, as amended, terminates May 1, 2023 , and authorizes 10.6 million shares of common stock for grant over the life of the plan. As of September 30, 2015 , 1.5 million shares were available for future issuance under the plan. Forfeitures are added back to the pool of shares of common stock available to be granted at a future date. The following table presents restricted stock and performance unit award activity for the nine months ended September 30, 2015 : Restricted Stock Performance Units Shares Weighted Average Grant- Date Fair Value Shares Weighted Average Grant- Date Fair Value Outstanding at January 1, 2015 1,184,299 $ 41.71 127,489 $ 58.25 Granted 218,957 65.16 53,102 65.03 Vested (349,903 ) 29.41 — — Forfeitures (5,397 ) 66.32 — — Outstanding at September 30, 2015 1,047,956 $ 49.97 180,591 $ 60.24 Compensation Expense Our share-based compensation expense is recorded in "Selling, general, and administrative expenses". Compensation expense for share-based awards recognized in the Consolidated Statements of Income, net of forfeitures, was as follows (dollars in millions): Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Restricted stock $ 3.7 $ 3.5 $ 11.7 $ 10.5 Performance units 0.9 0.6 2.0 1.1 Total share-based compensation expense 4.6 4.1 13.7 11.6 Income tax benefit (1.8 ) (1.6 ) (5.3 ) (4.5 ) Share-based compensation expense, net of tax benefit $ 2.8 $ 2.5 $ 8.4 $ 7.1 The fair value of restricted stock and performance units is determined based on the closing price of the Company’s common stock on the grant date. As PCA’s Board of Directors has the ability to accelerate vesting of share-based awards upon an employee’s retirement, the Company accelerates the recognition of compensation expense for certain employees approaching normal retirement age. The unrecognized compensation expense for all share-based awards at September 30, 2015 , was as follows (dollars in millions): September 30, 2015 Unrecognized Compensation Expense Remaining Weighted Average Recognition Period (in years) Restricted stock $ 30.2 2.9 Performance units 7.1 3.0 Total unrecognized share-based compensation expense $ 37.3 2.9

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Dividends During the nine months ended September 30, 2015 , we paid $147.3 million of dividends to shareholders. On February 26, 2015, PCA announced an increase of its quarterly cash dividend on its common stock from an annual payout of $1.60 per share to an annual payout of $2.20 per share. On August 27, 2015, PCA's Board of Directors declared a regular quarterly cash dividend of $0.55 per share, which was paid on October 15, 2015, to shareholders of record as of September 15, 2015. The October 2015 dividend payment was $53.6 million . Repurchases of Common Stock During the nine months ended September 30, 2015 , we paid $98.1 million to repurchase 1,412,394 shares of common stock. On July 21, 2015, PCA announced that its Board of Directors authorized the repurchase of an additional $150 million of the company’s outstanding common stock. Together with remaining authority under previously announced programs, at the time of the announcement, the company was authorized to repurchase approximately $205 million of additional shares. Repurchases may be made from time to time in open market or privately negotiated transactions in accordance with applicable securities regulations. The timing and amount of repurchases will be determined by the company in its discretion based on factors such as PCA’s stock price and market and business conditions. Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) (AOCI) by component were as follows. Amounts in parentheses indicate losses (dollars in millions): Foreign Currency Translation Adjustments Unrealized Loss On Treasury Locks, Net Unrealized Loss on Foreign Exchange Contracts Unfunded Employee Benefit Obligations Total Balance at January 1, 2015 $ (2.7 ) $ (24.7 ) $ (0.4 ) $ (126.1 ) $ (153.9 ) Other comprehensive income (loss) before reclassifications, net of tax (1.4 ) — — — (1.4 ) Amounts reclassified from AOCI, net of tax 4.2 2.6 (a) — 6.5 (b) 13.3 Net current-period other comprehensive income (loss) 2.8 2.6 — 6.5 11.9 Balance at September 30, 2015 $ 0.1 $ (22.1 ) $ (0.4 ) $ (119.6 ) $ (142.0 ) Reclassifications out of AOCI were as follows, amounts in parentheses indicate expenses in the Consolidated Statements of Income (dollars in millions): Amounts Reclassified from AOCI Three Months Ended September 30 Nine Months Ended Affected Line Item in the Statement Where Net Income is Presented Details about AOCI Components 2015 2014 2015 2014 Foreign currency translation adjustments $ — $ — $ (4.2 ) $ — Other expense, net — — — — Tax benefit $ — $ — $ (4.2 ) $ — Net of tax Unrealized loss on treasury locks, net $ (1.4 ) $ (1.4 ) $ (4.2 ) $ (4.2 ) See (a) below 0.5 0.5 1.6 1.6 Tax benefit $ (0.9 ) $ (0.9 ) $ (2.6 ) $ (2.6 ) Net of tax Unfunded employee benefit obligations Amortization of prior service costs $ (1.4 ) $ (1.6 ) $ (4.2 ) $ (4.8 ) See (b) below Amortization of actuarial losses (2.1 ) (0.2 ) (6.5 ) (0.5 ) See (b) below (3.5 ) (1.8 ) (10.7 ) (5.3 ) Total before tax 1.4 0.7 4.2 2.2 Tax benefit $ (2.1 ) $ (1.1 ) $ (6.5 ) $ (3.1 ) Net of tax ____________ (a) This AOCI component is included in interest expense, net. Amount relates to the amortization of the effective portion of treasury lock derivative instruments recorded in AOCI. The net amount of settlement gains or losses on derivative instruments included in AOCI to be amortized over the next 12 months is a net loss of $5.7 million ( $3.4 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 13, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K. (b) These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 11 , Employee Benefit Plans and Other Postretirement Benefits , for additional information.

Concentrations of Risk

Concentrations of Risk	9 Months Ended
	Sep. 30, 2015
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentrations of Risk Our Paper segment has had a long-standing commercial and contractual relationship with OfficeMax Incorporated (OfficeMax), and OfficeMax is our largest customer in the paper business. OfficeMax was acquired by Office Depot, Inc. late in 2013. Office Depot agreed to be acquired by Staples, Inc. on February 4, 2015. The pending acquisition by Staples is subject to the satisfaction of certain conditions. This relationship exposes us to a significant concentration of business and financial risk. Our sales to Office Depot (including OfficeMax) represent approximately 9% of our total company sales revenue and approximately 45% of our Paper segment sales revenue. At September 30, 2015 , and December 31, 2014 , we had $44.2 million and $52.6 million of accounts receivable due from Office Depot (including OfficeMax), which represented 6% and 8% of our total company accounts receivable, respectively. We cannot predict how the pending merger between Staples and Office Depot will affect our business. Significant increases in paper purchases would intensify the concentration of risk. Significant reductions in paper purchases would cause our paper business to attempt to expand its customer base and could potentially decrease its profitability if new customer sales required either a decrease in pricing and/or an increase in cost of sales. Any significant deterioration in the financial condition of the post-merger entity affecting its ability to pay or causing a significant change in the willingness to continue to purchase our products could harm our business and results of operations.

Transactions With Related Parti

Transactions With Related Parties	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Transactions With Related Parties	Transactions With Related Parties Louisiana Timber Procurement Company, L.L.C. (LTP) is a variable-interest entity that is 50% owned by PCA and 50% owned by Boise Cascade Company (Boise Cascade). LTP procures sawtimber, pulpwood, residual chips, and other residual wood fiber to meet the wood and fiber requirements of PCA and Boise Cascade in Louisiana. PCA is the primary beneficiary of LTP, and has the power to direct the activities that most significantly affect the economic performance of LTP. Therefore, we consolidate 100% of LTP in our financial statements in our Corporate and Other segment. The carrying amounts of LTP's assets and liabilities (which relate primarily to noninventory working capital items) on our Consolidated Balance Sheets were both $7.6 million at September 30, 2015 , and $5.2 million at December 31, 2014 . During the three months ended September 30, 2015 and 2014 , we recorded $25.2 million and $21.9 million , respectively, and during the nine months ended September 30, 2015 and 2014 , we recorded $70.3 million and $56.9 million , respectively, of LTP sales to Boise Cascade in "Net Sales" in the Consolidated Statements of Income and approximately the same amount of expenses in "Cost of Sales". The sales were at prices designed to approximate market prices. During the three months ended September 30, 2015 and 2014 , fiber purchases from related parties were $5.0 million and $7.0 million , respectively. Fiber purchases were $16.3 million and $21.3 million , respectively, during the nine months ended September 30, 2015 and 2014 . Most of these purchases related to chip and log purchases by LTP from Boise Cascade's wood products business. These purchases are recorded in "Cost of Sales" in the Consolidated Statements of Income.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information We report our business in three reportable segments: Packaging, Paper, and Corporate and Other. These segments represent distinct businesses that are managed separately because of differing products and services. Each of these businesses requires distinct operating and marketing strategies. Each segment's profits and losses are measured on operating profits before interest expense, net, and income taxes. For many of these allocated expenses, the related assets and liabilities remain in the Corporate and Other segment. Selected financial information by reportable segment was as follows (dollars in millions): Sales, net Operating Income (Loss) Three Months Ended September 30, 2015 Trade Inter- Total Packaging $ 1,144.0 $ 0.4 $ 1,144.4 $ 198.2 (a) Paper 291.9 — 291.9 39.5 Corporate and Other 34.9 36.3 71.2 (18.3 ) (b)(c) Intersegment eliminations — (36.7 ) (36.7 ) — $ 1,470.8 $ — $ 1,470.8 219.4 Interest expense, net (21.7 ) Income before taxes $ 197.7 Sales, net Operating Income (Loss) Three Months Ended September 30, 2014 Trade Inter- Total Packaging $ 1,174.2 $ 1.5 $ 1,175.7 $ 164.7 (a) Paper 312.5 — 312.5 43.0 Corporate and Other 32.2 37.0 69.2 (19.3 ) (c) Intersegment eliminations — (38.5 ) (38.5 ) — $ 1,518.9 $ — $ 1,518.9 188.4 Interest expense, net (23.1 ) Income before taxes $ 165.3 Sales, net Operating Income (Loss) Nine Months Ended September 30, 2015 Trade Inter- Total Packaging $ 3,382.8 $ 3.1 $ 3,385.9 $ 533.9 (a) Paper 870.3 — 870.3 98.6 Corporate and Other 97.7 101.0 198.7 (58.4 ) (b)(c) Intersegment eliminations — (104.0 ) (104.0 ) — $ 4,350.8 $ — $ 4,350.8 574.1 Interest expense, net (63.2 ) Income before taxes $ 510.9 Sales, net Operating Income (Loss) Nine Months Ended September 30, 2014 Trade Inter- Total Packaging $ 3,413.8 $ 4.5 $ 3,418.3 $ 501.8 (a) Paper 917.0 — 917.0 104.3 Corporate and Other 87.9 112.8 200.7 (76.6 ) (c) Intersegment eliminations — (117.3 ) (117.3 ) — $ 4,418.7 $ — $ 4,418.7 529.5 Interest expense, net (65.3 ) Income before taxes $ 464.2 ___________ (a) The three months ended September 30, 2015 and 2014, include income of $3.8 million and net charges of $26.0 million , respectively, related to restructuring activities at our mill in DeRidder, Louisiana. The income during the three months ended September 30, 2015, related to services and equipment received for vendor settlements. The nine months ended September 30, 2015 and 2014, include net charges of $5.4 million and $47.8 million , respectively. Restructuring activities at DeRidder include costs related to the conversion of the No. 3 newsprint machine to containerboard, our exit from the newsprint business, and other improvements. The restructuring charges in 2014 primarily related to accelerated depreciation and were mostly recorded in "Cost of sales". The three months ended September 30, 2014, includes $1.0 million of Boise acquisition integration-related and other costs, and the nine months ended September 30, 2015 and 2014, includes $2.7 million and $5.4 million , respectively. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs, and are mostly recorded in "Other income (expense), net". (b) In September 2015, we sold the remaining land, buildings, and equipment at our paper mill site in St. Helens, Oregon, where we ceased paper production in December 2012. We recorded a $6.7 million gain on the sale, in "Other income (expense), net". (c) The three months ended September 30, 2015 and 2014 , includes $2.4 million and $2.0 million , respectively, of Boise acquisition integration-related and other costs, mostly recorded in "Other income (expense), net" and the nine months ended September 30, 2015 and 2014, include $6.9 million , and $7.0 million , respectively. The nine months ended September 30, 2014 , includes $17.6 million of costs for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit. These costs are recorded in "Other income (expense), net".

New and Recently Adopted Accoun

New and Recently Adopted Accounting Standards	9 Months Ended
	Sep. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New and Recently Adopted Accounting Standards	New and Recently Adopted Accounting Standards In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments. Under the new guidance, an acquirer must recognize measurement-period adjustments as if they were known at the acquisition date, but they are recognized in the reporting period in which they are determined. Unlike current guidance, prior-period information is not revised. Additional disclosures are required about the impact on current-period income statement line items of adjustments that would have been recognized in prior periods if prior period information had been revised. This standard is effective January 1, 2016, and we do not expect it to have a material effect on our financial position or results of operations. In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-11: Simplifying the Measurement of Inventory . This ASU only addresses the measurement of inventory if its value declines or is impaired. The guidance on determining the cost of inventory is not amended. We continue to apply average cost to determine the cost of inventory and will then compare that to the net realizable value to determine if an inventory write-down is necessary. The ASU is effective January 1, 2017, and we we do not expect it to have a material effect on our financial position or results of operations. In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2015-03 (Topic 835): Simplifying the Presentation of Debt Issuance Costs . This ASU conforms the presentation of debt issuance costs with that required for debt discounts under U.S. GAAP. Under the ASU, debt issuance costs are presented in the balance sheet as a direct deduction from the related debt liability rather than as an asset. The guidance is effective for annual and interim reporting periods beginning after December 15, 2015, and requires the new guidance be applied retrospectively to all prior periods presented. We do not believe the adoption of this update will have a material effect on our financial position and results of operations. In February 2015, the FASB issued ASU 2015-02 (Topic 810): Amendments to the Consolidation Analysis . This ASU makes targeted amendments to the current consolidation guidance and affects both the variable interest entity and voting interest entity consolidation models. The guidance is effective for annual reporting periods beginning after December 15, 2015. We do not believe the adoption of this update will have a material effect on our financial position and results of operations. In May 2014, the FASB issued ASU 2014-09 (Topic 606): Revenue from Contracts with Customers . This ASU amends the guidance for revenue recognition to replace numerous, industry-specific requirements and converges areas under this topic with those of the International Financial Reporting Standards. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The amendment also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows from contracts with customers. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. In August 2015, the FASB issued ASU 2015-14: Revenue From Contracts with Customers (Topic 606): Deferral of the Effective Date. This ASU defers the effective date of the revenue standard, ASU 2014-09, by one year so that it is now effective for reporting periods beginning after December 15, 2017. We are still assessing the impact of ASU 2014-09, but we do not believe it will have a material effect on our financial position or results of operations. There were no other accounting standards recently issued that had or are expected to have a material impact on our financial position or results of operations.

Commitments, Guarantees, Indemn

Commitments, Guarantees, Indemnifications and Legal Proceedings	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments, Guarantees, Indemnifications and Legal Proceedings	Commitments, Guarantees, Indemnifications and Legal Proceedings We have financial commitments and obligations that arise in the ordinary course of our business. These include long-term debt, capital commitments, lease obligations, and purchase commitments for goods and services, and legal proceedings, all of which are discussed in Note 10, Debt, and Note 20, Commitments, Guarantees, Indemnifications, and Legal Proceedings, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K. Guarantees and Indemnifications We provide guarantees, indemnifications, and other assurances to third parties in the normal course of our business. These include tort indemnifications, product guarantees, environmental assurances, and representations and warranties in commercial agreements. At September 30, 2015 , we are not aware of any material liabilities arising from any guarantee, indemnification, or financial assurance we have provided. If we determined such a liability was probable and subject to reasonable determination, we would accrue for it at that time. Legal proceedings We are party to legal actions arising in the ordinary course of our business. These legal actions include commercial liability claims, premises liability claims, commercial disputes, and employment-related claims, among others. As of the date of this filing, we believe it is not reasonably possible that any of the legal actions against us will, either individually or in the aggregate, have a material adverse effect on our financial condition, results of operations, or cash flows.

Nature of Operations and Basi25

Nature of Operations and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	The preparation of the consolidated financial statements involves the use of estimates and accruals. Actual results may vary from those estimates.
Consolidation	The consolidated financial statements include the accounts of PCA and its majority-owned subsidiaries after elimination of intercompany balances and transactions.
Inventory Valuation	We value our raw materials, work in process, and finished goods inventories using lower of cost, as determined by the average cost method, or market. Supplies and materials are valued at the first-in, first-out (FIFO) or average cost methods.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Income Per Common Share	The following table sets forth the computation of basic and diluted income per common share for the periods presented (dollars and shares in millions, except per share data): Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Numerator: Net income $ 127.8 $ 104.4 $ 332.6 $ 294.1 Less: distributed and undistributed earnings allocated to participating securities (1.5 ) (1.4 ) (4.0 ) (4.4 ) Net income attributable to common shareholders $ 126.3 $ 103.0 $ 328.6 $ 289.7 Denominator: Weighted average basic common shares outstanding 96.5 97.1 96.8 96.9 Effect of dilutive securities 0.1 0.1 0.1 0.1 Diluted common shares outstanding 96.6 97.2 96.9 97.0 Basic income per common share $ 1.31 $ 1.06 $ 3.39 $ 2.99 Diluted income per common share $ 1.31 $ 1.06 $ 3.39 $ 2.99

Other Expense, Net (Tables)

Other Expense, Net (Tables)	9 Months Ended
	Sep. 30, 2015
Other Income and Expenses [Abstract]
Components of Other Expense, Net	The components of other income (expense), net, were as follows (dollars in millions): Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Integration-related and other costs (a) $ (2.4 ) $ (3.0 ) $ (9.0 ) $ (12.0 ) Sale of St. Helens paper mill site (b) 6.7 — 6.7 — Asset disposals and write-offs (5.0 ) (2.9 ) (9.7 ) (6.9 ) DeRidder restructuring (c) 3.8 (4.3 ) 3.6 (5.7 ) Refundable state tax credit (d) — — 3.6 — Class action lawsuit settlement (e) — — — (17.6 ) Other 0.7 (2.1 ) 1.9 (1.8 ) Total $ 3.8 $ (12.3 ) $ (2.9 ) $ (44.0 ) ___________ (a) Includes Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs. (b) In September 2015, we sold the remaining land, buildings, and equipment at our paper mill site in St. Helens, Oregon, where we ceased paper production in December 2012. We recorded a $6.7 million gain on the sale. In connection with the sale, we eliminated $11.2 million of asset retirement obligations that were assumed by the buyer. (c) Includes amounts from restructuring activities at our mill in DeRidder, Louisiana, including costs related to the conversion of the No. 3 newsprint machine to containerboard, our exit from the newsprint business, and other improvements. We completed the restructuring activities in first quarter 2015, but we recorded $3.8 million of income for services and equipment received for vendor settlements during the three and nine months ended September 30, 2015. (d) The nine months ended September 30, 2015 , includes a $3.6 million tax credit from the State of Louisiana related to our recent capital investment and the jobs retained at the DeRidder, Louisiana, mill. (e) The nine months ended September 30, 2014 , includes $17.6 million of costs for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Components of Inventories	The components of inventories were as follows (dollars in millions): September 30, December 31, Raw materials $ 271.5 $ 261.9 Work in process 13.9 11.3 Finished goods 206.3 216.3 Supplies and materials 204.2 175.4 Inventories $ 695.9 $ 664.9

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	9 Months Ended
	Sep. 30, 2015
Property, Plant and Equipment [Abstract]
Components of Property, Plant, and Equipment	The components of property, plant, and equipment were as follows (dollars in millions): September 30, December 31, Land and land improvements $ 145.8 $ 143.5 Buildings 661.8 654.6 Machinery and equipment 4,671.7 4,508.0 Construction in progress 146.0 154.8 Other 58.7 54.5 Property, plant, and equipment, at cost 5,684.0 5,515.4 Less accumulated depreciation (2,841.5 ) (2,657.8 ) Property, plant, and equipment, net $ 2,842.5 $ 2,857.6

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Intangible Assets	The weighted average remaining useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions): September 30, 2015 December 31, 2014 Weighted Average Remaining Useful Life (in Years) Gross Accumulated Weighted Average Remaining Useful Life (in Years) Gross Accumulated Customer relationships 13.5 $ 311.5 $ 52.2 14.3 $ 311.5 $ 36.9 Trademarks and trade names 12.8 21.8 4.7 13.4 21.8 3.0 Other 1.5 0.2 0.2 2.2 0.2 0.1 Total intangible assets (excluding goodwill) 13.5 $ 333.5 $ 57.1 14.2 $ 333.5 $ 40.0

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2015
Accrued Liabilities [Abstract]
Components of Accrued Liabilities	The components of accrued liabilities were as follows (dollars in millions): September 30, December 31, Compensation and benefits $ 109.9 $ 130.8 Medical insurance and workers’ compensation 31.0 27.0 Franchise, property, and sales and use taxes 23.3 17.5 Customer volume discounts and rebates 14.6 13.9 Environmental liabilities and asset retirement obligations 9.1 7.1 Severance, retention, and relocation 9.5 8.3 Other 11.6 15.4 Total $ 209.0 $ 220.0

Employee Benefit Plans and Ot32

Employee Benefit Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Benefit Costs	The components of net periodic benefit cost for our pension plans were as follows (dollars in millions): Pension Plans Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Service cost $ 6.1 $ 5.8 $ 17.9 $ 17.4 Interest cost 11.6 11.5 34.6 34.4 Expected return on plan assets (13.3 ) (12.7 ) (39.8 ) (38.0 ) Net amortization of unrecognized amounts Prior service cost 1.4 1.6 4.2 4.9 Actuarial loss 2.1 0.2 6.4 0.4 Net periodic benefit cost $ 7.9 $ 6.4 $ 23.3 $ 19.1 The components of net periodic benefit cost for our postretirement plans were as follows (dollars in millions): Postretirement Plans Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Service cost $ 0.4 $ 0.4 $ 1.3 $ 1.2 Interest cost 0.3 0.3 0.9 0.9 Net amortization of unrecognized amounts Prior service cost — — — (0.1 ) Actuarial loss — — 0.1 0.1 Net periodic benefit cost $ 0.7 $ 0.7 $ 2.3 $ 2.1

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Share-based Compensation [Abstract]
Summary of Restricted Stock and Performance Unit Award Activity	The following table presents restricted stock and performance unit award activity for the nine months ended September 30, 2015 : Restricted Stock Performance Units Shares Weighted Average Grant- Date Fair Value Shares Weighted Average Grant- Date Fair Value Outstanding at January 1, 2015 1,184,299 $ 41.71 127,489 $ 58.25 Granted 218,957 65.16 53,102 65.03 Vested (349,903 ) 29.41 — — Forfeitures (5,397 ) 66.32 — — Outstanding at September 30, 2015 1,047,956 $ 49.97 180,591 $ 60.24
Compensation Expense for Restricted Stock and Performance Units	Compensation expense for share-based awards recognized in the Consolidated Statements of Income, net of forfeitures, was as follows (dollars in millions): Three Months Ended September 30 Nine Months Ended 2015 2014 2015 2014 Restricted stock $ 3.7 $ 3.5 $ 11.7 $ 10.5 Performance units 0.9 0.6 2.0 1.1 Total share-based compensation expense 4.6 4.1 13.7 11.6 Income tax benefit (1.8 ) (1.6 ) (5.3 ) (4.5 ) Share-based compensation expense, net of tax benefit $ 2.8 $ 2.5 $ 8.4 $ 7.1
Unrecognized Compensation For Restricted Stock and Performance Units	The unrecognized compensation expense for all share-based awards at September 30, 2015 , was as follows (dollars in millions): September 30, 2015 Unrecognized Compensation Expense Remaining Weighted Average Recognition Period (in years) Restricted stock $ 30.2 2.9 Performance units 7.1 3.0 Total unrecognized share-based compensation expense $ 37.3 2.9

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Components of Changes in Accumulated Other Comprehensive Income (AOCI)	Changes in accumulated other comprehensive income (loss) (AOCI) by component were as follows. Amounts in parentheses indicate losses (dollars in millions): Foreign Currency Translation Adjustments Unrealized Loss On Treasury Locks, Net Unrealized Loss on Foreign Exchange Contracts Unfunded Employee Benefit Obligations Total Balance at January 1, 2015 $ (2.7 ) $ (24.7 ) $ (0.4 ) $ (126.1 ) $ (153.9 ) Other comprehensive income (loss) before reclassifications, net of tax (1.4 ) — — — (1.4 ) Amounts reclassified from AOCI, net of tax 4.2 2.6 (a) — 6.5 (b) 13.3 Net current-period other comprehensive income (loss) 2.8 2.6 — 6.5 11.9 Balance at September 30, 2015 $ 0.1 $ (22.1 ) $ (0.4 ) $ (119.6 ) $ (142.0 )
Reclassifications Out of Accumulated Other Comprehensive Income (AOCI)	Reclassifications out of AOCI were as follows, amounts in parentheses indicate expenses in the Consolidated Statements of Income (dollars in millions): Amounts Reclassified from AOCI Three Months Ended September 30 Nine Months Ended Affected Line Item in the Statement Where Net Income is Presented Details about AOCI Components 2015 2014 2015 2014 Foreign currency translation adjustments $ — $ — $ (4.2 ) $ — Other expense, net — — — — Tax benefit $ — $ — $ (4.2 ) $ — Net of tax Unrealized loss on treasury locks, net $ (1.4 ) $ (1.4 ) $ (4.2 ) $ (4.2 ) See (a) below 0.5 0.5 1.6 1.6 Tax benefit $ (0.9 ) $ (0.9 ) $ (2.6 ) $ (2.6 ) Net of tax Unfunded employee benefit obligations Amortization of prior service costs $ (1.4 ) $ (1.6 ) $ (4.2 ) $ (4.8 ) See (b) below Amortization of actuarial losses (2.1 ) (0.2 ) (6.5 ) (0.5 ) See (b) below (3.5 ) (1.8 ) (10.7 ) (5.3 ) Total before tax 1.4 0.7 4.2 2.2 Tax benefit $ (2.1 ) $ (1.1 ) $ (6.5 ) $ (3.1 ) Net of tax ____________ (a) This AOCI component is included in interest expense, net. Amount relates to the amortization of the effective portion of treasury lock derivative instruments recorded in AOCI. The net amount of settlement gains or losses on derivative instruments included in AOCI to be amortized over the next 12 months is a net loss of $5.7 million ( $3.4 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 13, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K. (b) These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 11 , Employee Benefit Plans and Other Postretirement Benefits , for additional information.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Selected Financial Information by Reportable Segment	Selected financial information by reportable segment was as follows (dollars in millions): Sales, net Operating Income (Loss) Three Months Ended September 30, 2015 Trade Inter- Total Packaging $ 1,144.0 $ 0.4 $ 1,144.4 $ 198.2 (a) Paper 291.9 — 291.9 39.5 Corporate and Other 34.9 36.3 71.2 (18.3 ) (b)(c) Intersegment eliminations — (36.7 ) (36.7 ) — $ 1,470.8 $ — $ 1,470.8 219.4 Interest expense, net (21.7 ) Income before taxes $ 197.7 Sales, net Operating Income (Loss) Three Months Ended September 30, 2014 Trade Inter- Total Packaging $ 1,174.2 $ 1.5 $ 1,175.7 $ 164.7 (a) Paper 312.5 — 312.5 43.0 Corporate and Other 32.2 37.0 69.2 (19.3 ) (c) Intersegment eliminations — (38.5 ) (38.5 ) — $ 1,518.9 $ — $ 1,518.9 188.4 Interest expense, net (23.1 ) Income before taxes $ 165.3 Sales, net Operating Income (Loss) Nine Months Ended September 30, 2015 Trade Inter- Total Packaging $ 3,382.8 $ 3.1 $ 3,385.9 $ 533.9 (a) Paper 870.3 — 870.3 98.6 Corporate and Other 97.7 101.0 198.7 (58.4 ) (b)(c) Intersegment eliminations — (104.0 ) (104.0 ) — $ 4,350.8 $ — $ 4,350.8 574.1 Interest expense, net (63.2 ) Income before taxes $ 510.9 Sales, net Operating Income (Loss) Nine Months Ended September 30, 2014 Trade Inter- Total Packaging $ 3,413.8 $ 4.5 $ 3,418.3 $ 501.8 (a) Paper 917.0 — 917.0 104.3 Corporate and Other 87.9 112.8 200.7 (76.6 ) (c) Intersegment eliminations — (117.3 ) (117.3 ) — $ 4,418.7 $ — $ 4,418.7 529.5 Interest expense, net (65.3 ) Income before taxes $ 464.2 ___________ (a) The three months ended September 30, 2015 and 2014, include income of $3.8 million and net charges of $26.0 million , respectively, related to restructuring activities at our mill in DeRidder, Louisiana. The income during the three months ended September 30, 2015, related to services and equipment received for vendor settlements. The nine months ended September 30, 2015 and 2014, include net charges of $5.4 million and $47.8 million , respectively. Restructuring activities at DeRidder include costs related to the conversion of the No. 3 newsprint machine to containerboard, our exit from the newsprint business, and other improvements. The restructuring charges in 2014 primarily related to accelerated depreciation and were mostly recorded in "Cost of sales". The three months ended September 30, 2014, includes $1.0 million of Boise acquisition integration-related and other costs, and the nine months ended September 30, 2015 and 2014, includes $2.7 million and $5.4 million , respectively. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs, and are mostly recorded in "Other income (expense), net". (b) In September 2015, we sold the remaining land, buildings, and equipment at our paper mill site in St. Helens, Oregon, where we ceased paper production in December 2012. We recorded a $6.7 million gain on the sale, in "Other income (expense), net". (c) The three months ended September 30, 2015 and 2014 , includes $2.4 million and $2.0 million , respectively, of Boise acquisition integration-related and other costs, mostly recorded in "Other income (expense), net" and the nine months ended September 30, 2015 and 2014, include $6.9 million , and $7.0 million , respectively. The nine months ended September 30, 2014 , includes $17.6 million of costs for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit. These costs are recorded in "Other income (expense), net".

Nature of Operations and Basi36

Nature of Operations and Basis of Presentation - Additional Information (Details)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Acquisitions and Dispositions (

Acquisitions and Dispositions (Narrative) (Details) - USD ($) $ in Millions	Apr. 01, 2015	Apr. 28, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
Proceeds from sale of a business			$ 23	$ 0
Packaging | Crockett Packaging
Business Acquisition [Line Items]
Business acquisition, cost of acquired entity		$ 21.2
Hexacomb Europe and Mexico [Member] | Packaging
Business Acquisition [Line Items]
Proceeds from sale of a business	$ 23

Earnings Per Share Computation

Earnings Per Share Computation of Basic and Diluted Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Net income	$ 127.8	$ 104.4	$ 332.6	$ 294.1
Less: distributed and undistributed earnings allocated to participating securities	(1.5)	(1.4)	(4)	(4.4)
Net income attributable to common shareholders	$ 126.3	$ 103	$ 328.6	$ 289.7
Denominator:
Weighted average basic common shares outstanding	96.5	97.1	96.8	96.9
Effect of dilutive securities	0.1	0.1	0.1	0.1
Diluted common shares outstanding	96.6	97.2	96.9	97
Basic income per common share (in dollars per share)	$ 1.31	$ 1.06	$ 3.39	$ 2.99
Diluted income per common share (in dollars per share)	$ 1.31	$ 1.06	$ 3.39	$ 2.99

Other Expense, Net (Details)

Other Expense, Net (Details) - USD ($) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015		Sep. 30, 2014
Integration-related and other costs	[1]	$ (2.4)		$ (3)		$ (9)		$ (12)
Sale of St. Helens paper mill site						3		(2.1)
Asset disposals and write-offs		(5)		(2.9)		(9.7)		(6.9)
DeRidder restructuring		3.8	[2]	(4.3)	[2]	3.6	[1]	(5.7)
Refundable state tax credit		0	[3]	0		3.6	[3]	0	[3]
Class action lawsuit settlement	[4]	0		0		0		(17.6)
Other		0.7		(2.1)		1.9		(1.8)
Total		3.8		(12.3)		(2.9)		(44)
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Sale of St. Helens paper mill site	[2]	6.7		$ 0		6.7		$ 0
Asset retirement obligations eliminated		11.2				11.2
Services and equipment received from vendors [Member]
DeRidder restructuring	[2]	$ 3.8				$ 3.8
[1]	Includes Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs.
[2]	n September 2015, we sold the remaining land, buildings, and equipment at our paper mill site in St. Helens, Oregon, where we ceased paper production in December 2012. We recorded a $6.7 million gain on the sale. In connection with the sale, we eliminated $11.2 million of asset retirement obligations that were assumed by the buyer.
[3]	Includes amounts from restructuring activities at our mill in DeRidder, Louisiana, including costs related to the conversion of the No. 3 newsprint machine to containerboard, our exit from the newsprint business, and other improvements. We completed the restructuring activities in first quarter 2015, but we recorded $3.8 million of income for services and equipment received for vendor settlements during the three and nine months ended September 30, 2015.
[4]	The nine months ended September 30, 2014, includes $17.6 million of costs for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Income tax provision	$ 69.9	$ 60.9	$ 178.3	$ 170.1
Effective income tax rate, percent	(35.40%)	(36.80%)	34.90%	36.60%
Effective income tax rate, at federal statutory income tax rate, percent	35.00%	35.00%	35.00%	35.00%
Cash paid for taxes, net of refunds received			$ 163.7	$ 110.8

Inventories Components of Inven

Inventories Components of Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Raw materials	$ 271.5	$ 261.9
Work in process	13.9	11.3
Finished goods	206.3	216.3
Supplies and materials	204.2	175.4
Inventories	$ 695.9	$ 664.9

Property, Plant, and Equipmen42

Property, Plant, and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	$ 5,684		$ 5,684		$ 5,515.4
Less accumulated depreciation	(2,841.5)		(2,841.5)		(2,657.8)
Property, plant, and equipment, net	2,842.5		2,842.5		2,857.6
Depreciation [Abstract]
Depreciation expense	79.6	$ 95.1	243.5	$ 264.1
Incremental depreciation expense			9	$ 35.4
Purchases of property, plant, and equipment included in accounts payable			31.1		13.9
Land and Land Improvements
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	145.8		145.8		143.5
Buildings
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	661.8		661.8		654.6
Machinery and Equipment
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	4,671.7		4,671.7		4,508
Construction in Progress
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	146		146		154.8
Other
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	$ 58.7		$ 58.7		$ 54.5

Goodwill and Intangible Asset43

Goodwill and Intangible Assets Goodwill (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Goodwill [Line Items]
Goodwill	$ 544	$ 546.8
Packaging
Goodwill [Line Items]
Goodwill	488.8	491.6
Paper
Goodwill [Line Items]
Goodwill	$ 55.2	$ 55.2

Goodwill and Intangible Asset44

Goodwill and Intangible Assets Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)			13 years 6 months		14 years 2 months 8 days
Gross Carrying Amount	$ 333.5		$ 333.5		$ 333.5
Accumulated Amortization	57.1		57.1		$ 40
Intangible assets amortization expense	5.7	$ 5.7	$ 17.1	$ 16.9
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)			13 years 6 months		14 years 3 months
Gross Carrying Amount	311.5		$ 311.5		$ 311.5
Accumulated Amortization	52.2		$ 52.2		$ 36.9
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)			12 years 9 months		13 years 4 months 28 days
Gross Carrying Amount	21.8		$ 21.8		$ 21.8
Accumulated Amortization	4.7		$ 4.7		$ 3
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)			1 year 6 months		2 years 2 months 12 days
Gross Carrying Amount	0.2		$ 0.2		$ 0.2
Accumulated Amortization	$ 0.2		$ 0.2		$ 0.1

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Accrued Liabilities [Abstract]
Compensation and benefits	$ 109.9	$ 130.8
Medical insurance and workers’ compensation	31	27
Franchise, property, and sales and use taxes	23.3	17.5
Customer volume discounts and rebates	14.6	13.9
Environmental liabilities and asset retirement obligations	9.1	7.1
Severance, retention, and relocation	9.5	8.3
Other	11.6	15.4
Total	$ 209	$ 220

Debt Additional Information (De

Debt Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 05, 2014
Debt Instrument [Line Items]
Repayments of Debt				$ 589.9
Cash payments paid for interest			$ 58.6	50
Amortization of net (loss) gain on treasury lock	$ 1.4	$ 1.4	4.2	4.2
Amortization of financing costs	0.5	2	1.3	$ 2.9
Deferred finance costs expensed		$ 1.5
Book value of fixed rate debt	1,647.2		1,647.2
Book value of variable rate debt	678.6		678.6
Long-term debt (fixed-rate debt), fair value	$ 1,711.9		1,711.9
Unsecured Debt | Term loan, Due October 2018 [Member]
Debt Instrument [Line Items]
Repayment of debt			$ 25
Debt Instrument, Term			5 years
Unsecured Debt | Seven-Year Term Loan, due October 2020
Debt Instrument [Line Items]
Repayment of debt			$ 4.9
Debt Instrument, Term			7 years
Senior Notes [Member] | 3.65% Senior Notes, due September 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 400
Debt Instrument, Interest Rate, Stated Percentage					3.65%

Employee Benefit Plans and Ot47

Employee Benefit Plans and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6.1	$ 5.8	$ 17.9	$ 17.4
Interest cost	11.6	11.5	34.6	34.4
Expected return on plan assets	(13.3)	(12.7)	(39.8)	(38)
Net amortization of unrecognized amounts, Prior service cost	1.4	1.6	4.2	4.9
Net amortization of unrecognized amounts, Actuarial loss	2.1	0.2	6.4	0.4
Net periodic benefit cost	7.9	6.4	23.3	19.1
Pension Contributions [Abstract]
Contributions to pension plans in 2015			0.8
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.4	0.4	1.3	1.2
Interest cost	0.3	0.3	0.9	0.9
Net amortization of unrecognized amounts, Prior service cost	0	0	0	(0.1)
Net amortization of unrecognized amounts, Actuarial loss	0	0	0.1	0.1
Net periodic benefit cost	$ 0.7	$ 0.7	$ 2.3	$ 2.1

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Details) shares in Millions	9 Months Ended
	Sep. 30, 2015shares
Share-based Compensation [Abstract]
Long-term equity incentive plan, termination date	May 1, 2023
Number of shares authorized under plan	10.6
Number of shares available for future issuance under share-based plan	1.5

Share-based Compensation Summar

Share-based Compensation Summary of Restricted Stock and Performance Unit Award Activity (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Restricted Stock
Restricted stock and performance unit award activity (shares) [Roll Forward]
Outstanding at January 1, 2015	1,184,299
Granted	218,957
Vested	(349,903)
Forfeitures	(5,397)
Outstanding at September 30, 2015	1,047,956
Restricted stock and performance unit award activity (weighted average grant-date fair value) [Abstract]
Weighted average grant-date fair value of outstanding shares at January 1, 2015 | $ / shares	$ 41.71
Weighted average grant-date fair value of shares granted | $ / shares	65.16
Weighted average grant-date fair value of shares vested | $ / shares	29.41
Weighted average grant-date fair value of shares forfeitures | $ / shares	66.32
Weighted average grant-date fair value of outstanding shares at March 31, 2015 | $ / shares	$ 49.97
Performance Units
Restricted stock and performance unit award activity (shares) [Roll Forward]
Outstanding at January 1, 2015	127,489
Granted	53,102
Vested	0
Forfeitures	0
Outstanding at September 30, 2015	180,591
Restricted stock and performance unit award activity (weighted average grant-date fair value) [Abstract]
Weighted average grant-date fair value of outstanding shares at January 1, 2015 | $ / shares	$ 58.25
Weighted average grant-date fair value of shares granted | $ / shares	65.03
Weighted average grant-date fair value of shares vested | $ / shares	0
Weighted average grant-date fair value of shares forfeitures | $ / shares	0
Weighted average grant-date fair value of outstanding shares at March 31, 2015 | $ / shares	$ 60.24

Share-based Compensation Compen

Share-based Compensation Compensation Expense for Restricted Stock and Performance Units (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 4.6	$ 4.1	$ 13.7	$ 11.6
Income tax benefit	(1.8)	(1.6)	(5.3)	(4.5)
Share-based compensation expense, net of tax benefit	2.8	2.5	8.4	7.1
Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	3.7	3.5	11.7	10.5
Performance Units
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 0.9	$ 0.6	$ 2	$ 1.1

Share-based Compensation Unreco

Share-based Compensation Unrecognized Compensation Expense for Share-Based Awards (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 37.3
Remaining weighted-average recognition period	2 years 11 months
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 30.2
Remaining weighted-average recognition period	2 years 10 months 24 days
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 7.1
Remaining weighted-average recognition period	3 years 12 days

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 15, 2015	Aug. 27, 2015	Feb. 26, 2015	May. 15, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Jul. 21, 2015
Common stock dividends paid							$ 147.3	$ 118
Dividends declared per common share		$ 0.55	$ 0.55		$ 0.55	$ 0.40	$ 1.65	$ 1.20
Repurchases of common stock							$ 98.1	$ 0
Shares of common stock repurchased							1,412,394
Stock Repurchase Program, Authorized Amount										$ 150
Remaining authorized amount for share repurchases										$ 205
Subsequent Event
Common stock dividends paid	$ 53.6
Annual Dividend
Dividends declared per common share				$ 1.60					$ 2.20

Stockholders' Equity Changes in

Stockholders' Equity Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2015				$ (153.9)
Other comprehensive income (loss) before reclassifications, net of tax				(1.4)
Amounts reclassified from AOCI, net of tax				13.3
Other comprehensive income		$ 3	$ 0.4	11.9	$ 4.1
Balance at September 30, 2015		(142)		(142)
Net amount of settlement gains (losses) on derivative instruments included in accumulated OCI to be amortized over next 12 months, before tax				(5.7)
Net amount of settlement gains (losses) on derivative instruments included in accumulated OCI to be amortized over next 12 months, after tax				(3.4)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2015				(2.7)
Other comprehensive income (loss) before reclassifications, net of tax				(1.4)
Amounts reclassified from AOCI, net of tax				4.2
Other comprehensive income				2.8
Balance at September 30, 2015		0.1		0.1
Unfunded Employee Benefit Obligations
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2015				(126.1)
Other comprehensive income (loss) before reclassifications, net of tax				0
Amounts reclassified from AOCI, net of tax	[1]			6.5
Other comprehensive income				6.5
Balance at September 30, 2015		(119.6)		(119.6)
Treasury Lock | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2015				(24.7)
Other comprehensive income (loss) before reclassifications, net of tax				0
Amounts reclassified from AOCI, net of tax	[2]			2.6
Other comprehensive income				2.6
Balance at September 30, 2015		(22.1)		(22.1)
Foreign Exchange Contract | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2015				(0.4)
Other comprehensive income (loss) before reclassifications, net of tax				0
Amounts reclassified from AOCI, net of tax				0
Other comprehensive income				0
Balance at September 30, 2015		$ (0.4)		$ (0.4)
[1]	These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 11, Employee Benefit Plans and Other Postretirement Benefits, for additional information.
[2]	This AOCI component is included in interest expense, net. Amount relates to the amortization of the effective portion of treasury lock derivative instruments recorded in AOCI. The net amount of settlement gains or losses on derivative instruments included in AOCI to be amortized over the next 12 months is a net loss of $5.7 million ($3.4 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 13, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K.

Stockholders' Equity Reclassifi

Stockholders' Equity Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2015		Sep. 30, 2014		Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net		$ 3.8		$ (12.3)		$ (2.9)	$ (44)
Interest expense, net		(21.7)		(23.1)		(63.2)	(65.3)
Income before taxes		197.7		165.3		510.9	464.2
Provision for income taxes		(69.9)		(60.9)		(178.3)	(170.1)
Net income		127.8		104.4		332.6	294.1
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Provision for income taxes		0		0		0	0
Net income		0		0		(4.2)	0
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net		0		0		(4.2)	0
Unfunded Employee Benefit Obligations | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service costs		(1.4)	[1]	(1.6)	[1]	(4.2)	(4.8)
Amortization of actuarial losses		(2.1)	[1]	(0.2)	[1]	(6.5)	(0.5)
Income before taxes		(3.5)		(1.8)		(10.7)	(5.3)
Provision for income taxes		1.4		0.7		4.2	2.2
Net income		(2.1)		(1.1)		(6.5)	(3.1)
Treasury Lock | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	[2]	(1.4)		(1.4)		(4.2)	(4.2)
Provision for income taxes		0.5		0.5		1.6	1.6
Net income		$ (0.9)		$ (0.9)		$ (2.6)	$ (2.6)
[1]	These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 11, Employee Benefit Plans and Other Postretirement Benefits, for additional information.
[2]	This AOCI component is included in interest expense, net. Amount relates to the amortization of the effective portion of treasury lock derivative instruments recorded in AOCI. The net amount of settlement gains or losses on derivative instruments included in AOCI to be amortized over the next 12 months is a net loss of $5.7 million ($3.4 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 13, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2014 Annual Report on Form 10-K.

Concentrations of Risk (Details

Concentrations of Risk (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Concentration Risk [Line Items]
Accounts receivable, net, current	$ 683.5		$ 683.5		$ 646.1
Office Depot (including OfficeMax) | Credit Concentration Risk
Concentration Risk [Line Items]
Accounts receivable, net, current	$ 44.2		$ 44.2		$ 52.6
Office Depot (including OfficeMax) | Total Company Sales Revenue | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	9.00%	9.00%	9.00%	9.00%
Office Depot (including OfficeMax) | Total Company Receivables | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage			6.00%		8.00%
Paper | Office Depot (including OfficeMax) | Paper Segment Sales Revenue | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	45.00%	45.00%	45.00%	45.00%

Transactions With Related Par56

Transactions With Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Carrying amount of LTP's assets	$ 7.6		$ 7.6		$ 5.2
Carrying amount of LTP's liabilities	7.6		$ 7.6		$ 5.2
Boise Cascade Co-Owner of LTP
Related Party Transaction [Line Items]
Variable interest entity, ownership percentage			50.00%
Boise Cascade Co-Owner of LTP | Fiber
Related Party Transaction [Line Items]
Revenue from related parties	25.2	$ 21.9	$ 70.3	$ 56.9
Fiber costs from related parties	$ 5	$ 7	$ 16.3	$ 21.3
Packaging Corporation of America [Member]
Related Party Transaction [Line Items]
Variable interest entity, ownership percentage			50.00%

Segment Information (Details)

Segment Information (Details) $ in Millions		3 Months Ended				9 Months Ended
		Sep. 30, 2015USD ($)		Sep. 30, 2014USD ($)		Sep. 30, 2015USD ($)		Sep. 30, 2014USD ($)
Segment Reporting Information [Line Items]
DeRidder restructuring		$ (3.8)	[1]	$ 4.3	[1]	$ (3.6)	[2]	$ 5.7
Number of reportable segments						3
Trade sales		1,470.8		1,518.9		$ 4,350.8		4,418.7
Net sales		1,470.8		1,518.9		4,350.8		4,418.7
Operating income (loss)		219.4		188.4		574.1		529.5
Sale of St. Helens paper mill site						3		(2.1)
Interest expense, net		(21.7)		(23.1)		(63.2)		(65.3)
Income before taxes		197.7		165.3		510.9		464.2
Class action lawsuit settlement	[3]	0		0		0		17.6
Packaging
Segment Reporting Information [Line Items]
Trade sales		1,144		1,174.2		3,382.8		3,413.8
Operating income (loss)	[4]	198.2		164.7		533.9		501.8
Paper
Segment Reporting Information [Line Items]
Trade sales		291.9		312.5		870.3		917
Operating income (loss)		39.5		43		98.6		104.3
Corporate and Other
Segment Reporting Information [Line Items]
Trade sales		34.9		32.2		97.7		87.9
Operating income (loss)	[5]	(18.3)		(19.3)		(58.4)		(76.6)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Intersegment sales		0		0		0		0
Intersegment Eliminations | Packaging
Segment Reporting Information [Line Items]
Intersegment sales		0.4		1.5		3.1		4.5
Intersegment Eliminations | Paper
Segment Reporting Information [Line Items]
Intersegment sales		0		0		0		0
Intersegment Eliminations | Corporate and Other
Segment Reporting Information [Line Items]
Intersegment sales		36.3		37		101		112.8
Operating Segments
Segment Reporting Information [Line Items]
Net sales		1,470.8		1,518.9		4,350.8		4,418.7
Operating Segments | Packaging
Segment Reporting Information [Line Items]
Net sales		1,144.4		1,175.7		3,385.9		3,418.3
Operating Segments | Paper
Segment Reporting Information [Line Items]
Net sales		291.9		312.5		870.3		917
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Net sales		71.2		69.2		198.7		200.7
Segment Reconciling Items
Segment Reporting Information [Line Items]
Intersegment sales		(36.7)		(38.5)		(104)		(117.3)
Net sales		(36.7)		(38.5)		(104)		(117.3)
Integration-Related and Other Costs [Member] | Boise Inc. | Other Expense, Net | Packaging
Segment Reporting Information [Line Items]
Operating income (loss)				1		2.7		5.4
Integration-Related and Other Costs [Member] | Boise Inc. | Other Expense, Net | Corporate and Other
Segment Reporting Information [Line Items]
Operating income (loss)		2.4		2		6.9		7
Restructuring Charges [Member] | Packaging
Segment Reporting Information [Line Items]
Operating income (loss)						5.4
Restructuring Charges [Member] | Cost of Sales | Packaging
Segment Reporting Information [Line Items]
Operating income (loss)				26				47.8
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Segment Reporting Information [Line Items]
Sale of St. Helens paper mill site	[1]	$ 6.7		$ 0		$ 6.7		$ 0
[1]	n September 2015, we sold the remaining land, buildings, and equipment at our paper mill site in St. Helens, Oregon, where we ceased paper production in December 2012. We recorded a $6.7 million gain on the sale. In connection with the sale, we eliminated $11.2 million of asset retirement obligations that were assumed by the buyer.
[2]	Includes Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs.
[3]	The nine months ended September 30, 2014, includes $17.6 million of costs for the settlement of the Kleen Products LLC v Packaging Corp. of America et al class action lawsuit.
[4]	The three months ended September 30, 2015 and 2014, include income of $3.8 million and net charges of $26.0 million, respectively, related to restructuring activities at our mill in DeRidder, Louisiana. The income during the three months ended September 30, 2015, related to services and equipment received for vendor settlements. The nine months ended September 30, 2015 and 2014, include net charges of $5.4 million and $47.8 million, respectively. Restructuring activities at DeRidder include costs related to the conversion of the No. 3 newsprint machine to containerboard, our exit from the newsprint business, and other improvements. The restructuring charges in 2014 primarily related to accelerated depreciation and were mostly recorded in "Cost of sales". The three months ended September 30, 2014, includes $1.0 million of Boise acquisition integration-related and other costs, and the nine months ended September 30, 2015 and 2014, includes $2.7 million and $5.4 million, respectively. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs, and are mostly recorded in "Other income (expense), net".
[5]	In September 2015, we sold the remaining land, buildings, and equipment at our paper mill site in St. Helens, Oregon, where we ceased paper production in December 2012. We recorded a $6.7 million gain on the sale, in "Other income (expense), net".