Packaging Corporation of America (PKG) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
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		94,111,081

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Net sales	$ 1,401	$ 1,425.7
Cost of sales	(1,102.4)	(1,148.7)
Gross profit	298.6	277
Selling, general, and administrative expenses	(113.9)	(117.3)
Other expense, net	(3.9)	(2.6)
Income from operations	180.8	157.1
Interest expense, net	(21.6)	(19.2)
Income before taxes	159.2	137.9
Income tax provision	(55.5)	(47.1)
Net income	$ 103.7	$ 90.8
Net income per common share:
Basic (in dollars per share)	$ 1.09	$ 0.92
Diluted (in dollars per share)	1.09	0.92
Dividends declared per common share (in US$ per share)	$ 0.55	$ 0.55
Statements of Comprehensive Income:
Net income	$ 103.7	$ 90.8
Foreign currency translation adjustment	0	(1.4)
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.5 million and $0.6 million	0.9	0.8
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.0 million and $1.4 million	1.6	2.2
Other comprehensive income	2.5	1.6
Comprehensive income	$ 106.2	$ 92.4

Consolidated Statements of Inc3

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.5 million and $0.6 million	$ 0.5	$ 0.6
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.0 million and $0.4 million	$ 1	$ 0.4

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 162.3	$ 184.2
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $10.0 million and $10.3 million as of March 31, 2016 and December 31, 2015, respectively	631.4	636.5
Inventories	692.5	676.8
Prepaid expenses and other current assets	42.7	28.8
Federal and state income taxes receivable	0	28.2
Total current assets	1,528.9	1,554.5
Property, plant, and equipment, net	2,817.9	2,832.1
Goodwill	544	544
Intangible assets, net	265.1	270.8
Other long-term assets	71.4	70.9
Total assets	5,227.3	5,272.3
Current liabilities:
Current maturities of long-term debt	6.5	6.5
Capital lease obligations	1.2	1.2
Accounts payable	309	294.2
Dividends payable	52.1	53.4
Federal and state income taxes payable	13.3	0
Accrued interest	18.8	13.1
Accrued liabilities	144.4	193.5
Total current liabilities	545.3	561.9
Long-term liabilities:
Long-term debt	2,289.3	2,290.4
Capital lease obligations	21.3	21.6
Deferred income taxes	357.2	347
Compensation and benefits	363	358.6
Other long-term liabilities	60.4	59.5
Total long-term liabilities	$ 3,091.2	$ 3,077.1
Commitments and contingent liabilities
Stockholders' equity:
Common stock, par value $0.01 per share, 300.0 million shares authorized, 94.2 million and 96.1 million shares issued as of March 31, 2016 and December 31, 2015, respectively	$ 0.9	$ 1
Additional paid in capital	432.8	439.9
Retained earnings	1,286.5	1,317.3
Accumulated other comprehensive loss	(122.4)	(124.9)
Common stock held in treasury, at cost, 0.1 million shares as of March 31, 2016	(7)	0
Total stockholders' equity	1,590.8	1,633.3
Total liabilities and stockholders' equity	$ 5,227.3	$ 5,272.3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $10.0 million and $10.3 million as of March 31, 2016 and December 31, 2015, respectively	$ 10	$ 10.3
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	300	300
Treasury Stock, Shares	0.1	0
Common stock, shares issued	94.2	96.1

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net income	$ 103.7	$ 90.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization of intangibles	88.7	93.4
Amortization of deferred financing costs	1.9	1.9
Share-based compensation expense	5.6	4.2
Deferred income tax provision	8.1	7.4
Pension and postretirement benefits expense, net of contributions	6.4	7.7
Other, net	2.1	(5.4)
Decrease (increase) in assets —
Accounts receivable	5.1	(31.4)
Inventories	(15.7)	(22.2)
Prepaid expenses and other current assets	(13.9)	(4.5)
Increase (decrease) in liabilities —
Accounts payable	0.3	(13.6)
Accrued liabilities	(43.5)	(48.8)
Federal and state income taxes payable / receivable	42.2	28.8
Net cash provided by operating activities	191	108.3
Cash Flows from Investing Activities:
Additions to property, plant, and equipment	(52.9)	(55.6)
Additions to other long-term assets	(2.9)	(2.6)
Other	0.3	0.6
Net cash used for investing activities	(55.5)	(57.6)
Cash Flows from Financing Activities:
Repayments of debt and capital lease obligations	(1.9)	(1.9)
Common stock dividends paid	(53.1)	(39.4)
Repurchases of common stock	(100.3)	(7.6)
Excess tax benefits from stock-based awards	0	0.3
Shares withheld to cover employee restricted stock taxes	(2.1)	(0.3)
Other	0	(0.3)
Net cash used for financing activities	(157.4)	(49.2)
Net (decrease) increase in cash and cash equivalents	(21.9)	1.5
Cash and cash equivalents, beginning of period	184.2	124.9
Cash and cash equivalents, end of period	$ 162.3	$ 126.4

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	Mar. 31, 2016
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. 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 15 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. Effective January 1, 2016, the Company adopted 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. Generally Accepted Accounting Principles (GAAP). Under the ASU, debt issuance costs are presented in the balance sheet as a direct deduction from the related liability rather than as an asset. We applied this guidance retrospectively, as required, and reclassified $12.3 million from "Other long-term assets" to "Long-term debt" on our December 31, 2015 Consolidated Balance Sheet to conform with current period presentation. At March 31, 2016 deferred financing costs were $11.9 million . The consolidated financial statements of PCA as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 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 months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2015 . The consolidated financial statements include the accounts of PCA and its majority-owned subsidiaries after elimination of intercompany balances and transactions.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
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 March 31 2016 2015 Numerator: Net income $ 103.7 $ 90.8 Less: distributed and undistributed earnings allocated to participating securities (1.1 ) (1.2 ) Net income attributable to common shareholders $ 102.6 $ 89.6 Denominator: Weighted average basic common shares outstanding 94.1 97.1 Effect of dilutive securities 0.1 0.1 Diluted common shares outstanding 94.2 97.2 Basic income per common share $ 1.09 $ 0.92 Diluted income per common share $ 1.09 $ 0.92

Other Expense, Net

Other Expense, Net	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
Other Expense, Net	Other Expense, Net The components of other income (expense), net, were as follows (dollars in millions): Three Months Ended March 31 2016 2015 Facilities closure costs (a) $ (2.0 ) $ — Integration-related and other costs (b) — (3.0 ) Asset disposals and write-offs (1.8 ) (1.0 ) DeRidder restructuring (c) — (1.2 ) Refundable state tax credit (d) — 3.6 Other (0.1 ) (1.0 ) Total $ (3.9 ) $ (2.6 ) ___________ (a) The three months ended March 31, 2016 include $2.0 million of facilities closure costs related to a corrugated products facility and a paper products facility. (b) The three months ended March 31, 2015 include Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs. (c) The three months ended March 31, 2015 include amounts from restructuring activities at our mill in DeRidder, Louisiana. (d) The three months ended March 31, 2015 include a $3.6 million tax credit from the State of Louisiana related to our capital investment and the jobs retained at the DeRidder, Louisiana mill.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2016 and 2015 we recorded $55.5 million and $47.1 million of income tax expense and had an effective tax rate of 34.8% and 34.2% , 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 increase in our effective tax rate for the three months ended March 31, 2016 compared with the same period in 2015, was primarily due to the favorable closure of a Federal audit for tax years 2010 through 2012 and the resulting release of uncertain tax positions, which occurred during the three months ended March 31, 2015. During the three months ended March 31, 2016 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 2015 Annual Report on Form 10-K. During the three months ended March 31, 2016 and 2015 cash paid for taxes, net of refunds received, was $5.2 million and $9.8 million , respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
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): March 31, December 31, Raw materials $ 272.0 $ 260.6 Work in process 12.0 14.2 Finished goods 190.6 189.7 Supplies and materials 217.9 212.3 Inventories $ 692.5 $ 676.8

Property, Plant, and Equipment

Property, Plant, and Equipment	3 Months Ended
	Mar. 31, 2016
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): March 31, December 31, Land and land improvements $ 146.2 $ 146.4 Buildings 641.3 640.9 Machinery and equipment 4,769.9 4,747.1 Construction in progress 148.3 119.1 Other 64.8 61.3 Property, plant, and equipment, at cost 5,770.5 5,714.8 Less accumulated depreciation (2,952.6 ) (2,882.7 ) Property, plant, and equipment, net $ 2,817.9 $ 2,832.1 Depreciation expense for the three months ended March 31, 2016 and 2015 was $80.7 million and $85.2 million , respectively. During the three months ended March 31, 2016 we recognized $0.1 million of incremental depreciation expense from shortening the useful lives of assets related to facilities closures. During the three months ended March 31, 2015 we recognized $9.0 million of incremental depreciation expense from shortening the useful lives of assets at our DeRidder, Louisiana mill as a result of restructuring activities. At March 31, 2016 and December 31, 2015 purchases of property, plant, and equipment included in accounts payable were $29.4 million and $15.0 million .

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2016
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 both March 31, 2016 and December 31, 2015 we had $488.8 million of goodwill recorded in our Packaging segment and $55.2 million of goodwill recorded in our Paper segment on our Consolidated Balance Sheets. 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): March 31, 2016 December 31, 2015 Weighted Average Remaining Useful Life (in Years) Gross Accumulated Weighted Average Remaining Useful Life (in Years) Gross Accumulated Customer relationships 13.1 $ 311.5 $ 62.4 13.3 $ 311.5 $ 57.3 Trademarks and trade names 13.5 21.8 5.8 13.6 21.8 5.2 Other 1.0 0.2 0.2 1.2 0.2 0.2 Total intangible assets (excluding goodwill) 13.5 $ 333.5 $ 68.4 13.6 $ 333.5 $ 62.7 During both the three months ended March 31, 2016 and 2015 , amortization expense was $5.7 million .

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2016
Accrued Liabilities [Abstract]
Accrued Liabilities	Accrued Liabilities The components of accrued liabilities were as follows (dollars in millions): March 31, December 31, Compensation and benefits $ 64.3 $ 106.4 Medical insurance and workers’ compensation 30.5 31.1 Franchise, property, and sales and use taxes 15.1 16.0 Customer volume discounts and rebates 11.9 15.3 Environmental liabilities and asset retirement obligations 9.2 7.9 Severance, retention, and relocation 4.8 7.3 Other 8.6 9.5 Total $ 144.4 $ 193.5

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt During the three months ended March 31, 2016 , we made a principal payment of $1.6 million on our seven -year term loan due October 2020. For the three months ended March 31, 2016 and 2015 cash payments for interest were $15.8 million and $15.9 million , respectively. Included in interest expense, net, are amortization of treasury lock settlements and amortization of financing costs. For both the three months ended March 31, 2016 and 2015 amortization of treasury lock settlements was $1.4 million . For both the three months ended March 31, 2016 and 2015 amortization of financing costs was $0.4 million . Effective January 1, 2016, the Company adopted 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. Generally Accepted Accounting Principles (GAAP). Under the ASU, debt issuance costs are presented in the balance sheet as a direct deduction from the related liability rather than as an asset. We applied this guidance retrospectively, as required, and reclassified $12.3 million from "Other long-term assets" to "Long-term debt" on our December 31, 2015 Consolidated Balance Sheet to conform with current period presentation. At March 31, 2016 deferred financing costs were $11.9 million . 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 2015 Annual Report on Form 10-K. At March 31, 2016 we had $1,650.0 million of fixed-rate senior notes and $660.4 million of variable-rate term loans outstanding. At March 31, 2016 the fair value of our fixed-rate debt was estimated to be $1,744.6 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 2015 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	3 Months Ended
	Mar. 31, 2016
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 March 31 2016 2015 Service cost $ 6.1 $ 5.9 Interest cost 10.2 11.5 Expected return on plan assets (12.4 ) (13.3 ) Net amortization of unrecognized amounts Prior service cost 1.4 1.4 Actuarial loss 1.4 2.1 Net periodic benefit cost $ 6.7 $ 7.6 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 three months ended March 31, 2016 and 2015 payments to our nonqualified pension plans were insignificant. We did not make any contributions to our qualified plans during the three months ended March 31, 2016 and 2015. We expect to contribute at least the estimated required minimum contributions to our qualified plans of approximately $27.0 million in 2016. The components of net periodic benefit cost for our postretirement plans were as follows (dollars in millions): Postretirement Plans Three Months Ended March 31 2016 2015 Service cost $ 0.2 $ 0.4 Interest cost 0.2 0.3 Net amortization of unrecognized amounts Prior service cost — — Actuarial loss (0.2 ) 0.1 Net periodic benefit cost $ 0.2 $ 0.8

Share-based Compensation

Share-based Compensation	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 , 1.6 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 three months ended March 31, 2016 : Restricted Stock Performance Units Shares Weighted Average Grant- Date Fair Value Shares Weighted Average Grant- Date Fair Value Outstanding at January 1, 2016 1,007,794 $ 49.47 175,675 $ 59.94 Granted 321 62.35 — — Vested (a) (74,444 ) 46.05 (20,604 ) 57.58 Forfeitures (9,152 ) 59.46 — — Outstanding at March 31, 2016 924,519 $ 49.66 155,071 $ 60.25 ___________ (a) Upon vesting of the performance unit awards, PCA issued 21,111 shares of its common stock, which included 507 shares for dividends accrued during the vesting period. 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 March 31 2016 2015 Restricted stock $ 4.9 $ 3.6 Performance units 0.7 0.6 Total share-based compensation expense 5.6 4.2 Income tax benefit (2.2 ) (1.6 ) Share-based compensation expense, net of tax benefit $ 3.4 $ 2.6 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 March 31, 2016 was as follows (dollars in millions): March 31, 2016 Unrecognized Compensation Expense Remaining Weighted Average Recognition Period (in years) Restricted stock $ 22.1 2.4 Performance units 5.4 2.6 Total unrecognized share-based compensation expense $ 27.5 2.4

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Dividends During the three months ended March 31, 2016 we paid $53.1 million of dividends to shareholders. On February 25, 2016 PCA's Board of Directors declared a regular quarterly cash dividend of $0.55 per share, which was paid on April 15, 2016 to shareholders of record as of March 15, 2016. The April 2016 dividend payment was $51.9 million . Repurchases of Common Stock During the three months ended March 31, 2016 we paid $100.3 million to repurchase 1,987,187 shares of common stock fully depleting the July 2015 authorization of $150.0 million . On February 25, 2016 PCA announced that its Board of Directors authorized the repurchase of an additional $200.0 million of the Company’s outstanding common stock. 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): Unrealized Loss On Treasury Locks, Net Unrealized Loss on Foreign Exchange Contracts Unfunded Employee Benefit Obligations Total Balance at January 1, 2016 $ (21.2 ) $ (0.4 ) $ (103.3 ) $ (124.9 ) Amounts reclassified from AOCI, net of tax 0.9 (a) — 1.6 (b) 2.5 Balance at March 31, 2016 $ (20.3 ) $ (0.4 ) $ (101.7 ) $ (122.4 ) 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 March 31 Affected Line Item in the Statement Where Net Income is Presented Details about AOCI Components 2016 2015 Unrealized loss on treasury locks, net $ (1.4 ) $ (1.4 ) See (a) below 0.5 0.6 Tax benefit $ (0.9 ) $ (0.8 ) Net of tax Unfunded employee benefit obligations Amortization of prior service costs $ (1.4 ) $ (1.4 ) See (b) below Amortization of actuarial losses (1.2 ) (2.2 ) See (b) below (2.6 ) (3.6 ) Total before tax 1.0 1.4 Tax benefit $ (1.6 ) $ (2.2 ) 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 ( $3.5 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 14, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2015 Annual Report on Form 10-K. (b) These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 10 , Employee Benefit Plans and Other Postretirement Benefits , for additional information.

Concentrations of Risk

Concentrations of Risk	3 Months Ended
	Mar. 31, 2016
Risks and Uncertainties [Abstract]
Concentration of Risk	Concentrations of Risk Our Paper segment has had a long-standing commercial and contractual relationship with Office Depot, our largest customer in the paper business. 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, including regulatory approval. This relationship exposes us to a significant concentration of business and financial risk. Our sales to Office Depot represent approximately 9% and 10% of our total Company sales revenue, for the three months ended March 31, 2016 and 2015, respectively, and approximately 44% and 46% of our Paper segment sales revenue for both those periods, respectively. At March 31, 2016 and December 31, 2015 we had $33.9 million and $39.5 million of accounts receivable due from Office Depot, which represents 5% and 6% of our total Company accounts receivable, respectively. Our agreement with Office Depot will continue to remain in effect after a merger or acquisition as to the office paper requirements of the legacy Office Depot business. However, we cannot predict how any merger or acquisition will affect the financial condition of the ultimate entity, the paper requirements of the legacy Office Depot business, the purchasing decisions of the ultimate entity or the effects on pricing or competition for office papers. In 2015, sales to Office Depot represented 45% of our Paper segment sales. If these sales are reduced, whether as a result of the future acquisition of Office Depot by Staples or otherwise, we would need to find new customers. We may not be able to fully replace any lost sales, and any new sales may be at lower prices or higher costs. Any significant deterioration in the financial condition of the ultimate entity affecting its ability to pay or any other change that affects its willingness to purchase our products will harm our business and results of operations.

Transactions With Related Parti

Transactions With Related Parties	3 Months Ended
	Mar. 31, 2016
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 $4.5 million at both March 31, 2016 and December 31, 2015 . During the three months ended March 31, 2016 and 2015 we recorded $22.3 million and $21.9 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 March 31, 2016 and 2015 fiber purchases from related parties were $4.7 million and $6.3 million , respectively. 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	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 Trade Inter- Total Packaging $ 1,093.8 $ 1.7 $ 1,095.5 $ 159.6 (a) Paper 280.5 — 280.5 36.1 (a) Corporate and Other 26.7 36.0 62.7 (14.9 ) Intersegment eliminations — (37.7 ) (37.7 ) — $ 1,401.0 $ — $ 1,401.0 180.8 Interest expense, net (21.6 ) Income before taxes $ 159.2 Sales, net Operating Income (Loss) Three Months Ended March 31, 2015 Trade Inter- Total Packaging $ 1,097.9 $ 1.4 $ 1,099.3 $ 141.1 (b) Paper 297.3 — 297.3 35.6 Corporate and Other 30.5 30.5 61.0 (19.6 ) (b) Intersegment eliminations — (31.9 ) (31.9 ) — $ 1,425.7 $ — $ 1,425.7 157.1 Interest expense, net (19.2 ) Income before taxes $ 137.9 ___________ (a) The three months ended March 31, 2016 include charges of $2.8 million of facilities closure costs related to a corrugated products facility and a paper products facility. The closure costs are recorded within "Other expense, net" and "Cost of sales", as appropriate. (b) The three months ended March 31, 2015 include charges of $10.3 million primarily for accelerated depreciation at our mill in DeRidder, Louisiana. The three months ended March 31, 2015 include $3.5 million of Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs, and are mostly recorded in "Other expense, net".

New and Recently Adopted Accoun

New and Recently Adopted Accounting Standards	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New and Recently Adopted Accounting Standards	New and Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-09 (Topic 718): Improvements to Employee Share-Based Payment Accounting . This ASU is intended to improve the accounting for share-based payment transactions as part of the FASB's simplification initiative. Under the ASU, all excess tax benefits and tax deficiencies will be recorded as an income tax benefit or expense in the income statement. The ASU is effective for fiscal years beginning after December 15, 2016, and interim periods within those years for public business entities. We are evaluating the timing and effects of the adoption of this ASU on our financial statements. In February 2016, the FASB issued ASU 2016-02 (Topic 842): Leases. This ASU amends a number of aspects of lease accounting, including requiring lessees to recognize operating leases with a term greater than one year on their balance sheet as a right-of-use asset and corresponding lease liability, measured at the present value of the lease payments. This ASU will be effective for us beginning in our first quarter of 2019 and early adoption is permitted. This ASU is required to be adopted using a modified retrospective approach. We are evaluating the timing and effects of the adoption of this ASU on our financial statements. Effective January 1, 2016, the Company adopted 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. Generally Accepted Accounting Principles (GAAP). Under the ASU, debt issuance costs are presented in the balance sheet as a direct deduction from the related liability rather than as an asset. We applied this guidance retrospectively, as required, and reclassified $12.3 million from "Other long-term assets" to "Long-term debt" on our December 31, 2015 Consolidated Balance Sheet to conform with current period presentation. At March 31, 2016 deferred financing costs were $11.9 million . In July 2015, the FASB issued ASU 2015-11 (Topic 330): 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 do not expect it to have a material effect on our financial position or 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	3 Months Ended
	Mar. 31, 2016
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 19, 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 2015 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 March 31, 2016 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 Basi24

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reportable Segments	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 15 Segment Information .
Reclassification	In these consolidated financial statements, certain amounts in prior periods' consolidated financial statements have been reclassified to conform with the current period presentation.
Recent Accounting Pronouncements	Effective January 1, 2016, the Company adopted 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. Generally Accepted Accounting Principles (GAAP). Under the ASU, debt issuance costs are presented in the balance sheet as a direct deduction from the related liability rather than as an asset. We applied this guidance retrospectively, as required, and reclassified $12.3 million from "Other long-term assets" to "Long-term debt" on our December 31, 2015 Consolidated Balance Sheet to conform with current period presentation. At March 31, 2016 deferred financing costs were $11.9 million . In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-09 (Topic 718): Improvements to Employee Share-Based Payment Accounting . This ASU is intended to improve the accounting for share-based payment transactions as part of the FASB's simplification initiative. Under the ASU, all excess tax benefits and tax deficiencies will be recorded as an income tax benefit or expense in the income statement. The ASU is effective for fiscal years beginning after December 15, 2016, and interim periods within those years for public business entities. We are evaluating the timing and effects of the adoption of this ASU on our financial statements. In February 2016, the FASB issued ASU 2016-02 (Topic 842): Leases. This ASU amends a number of aspects of lease accounting, including requiring lessees to recognize operating leases with a term greater than one year on their balance sheet as a right-of-use asset and corresponding lease liability, measured at the present value of the lease payments. This ASU will be effective for us beginning in our first quarter of 2019 and early adoption is permitted. This ASU is required to be adopted using a modified retrospective approach. We are evaluating the timing and effects of the adoption of this ASU on our financial statements. Effective January 1, 2016, the Company adopted 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. Generally Accepted Accounting Principles (GAAP). Under the ASU, debt issuance costs are presented in the balance sheet as a direct deduction from the related liability rather than as an asset. We applied this guidance retrospectively, as required, and reclassified $12.3 million from "Other long-term assets" to "Long-term debt" on our December 31, 2015 Consolidated Balance Sheet to conform with current period presentation. At March 31, 2016 deferred financing costs were $11.9 million . In July 2015, the FASB issued ASU 2015-11 (Topic 330): 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 do not expect it to have a material effect on our financial position or 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.
Basis of Accounting and Presentation	The consolidated financial statements of PCA as of March 31, 2016 and for the three months ended March 31, 2016 and 2015 are unaudited but include all adjustments (consisting only of normal recurring adjustments) that management considers necessary for a fair presentation of such financial statements 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 months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . These consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2015 .
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.
Commitments and Legal Proceedings	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. 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 19, 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 2015 Annual Report on Form 10-K.
Guarantees and Indemnifications	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 March 31, 2016 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.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31 2016 2015 Numerator: Net income $ 103.7 $ 90.8 Less: distributed and undistributed earnings allocated to participating securities (1.1 ) (1.2 ) Net income attributable to common shareholders $ 102.6 $ 89.6 Denominator: Weighted average basic common shares outstanding 94.1 97.1 Effect of dilutive securities 0.1 0.1 Diluted common shares outstanding 94.2 97.2 Basic income per common share $ 1.09 $ 0.92 Diluted income per common share $ 1.09 $ 0.92

Other Expense, Net (Tables)

Other Expense, Net (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31 2016 2015 Facilities closure costs (a) $ (2.0 ) $ — Integration-related and other costs (b) — (3.0 ) Asset disposals and write-offs (1.8 ) (1.0 ) DeRidder restructuring (c) — (1.2 ) Refundable state tax credit (d) — 3.6 Other (0.1 ) (1.0 ) Total $ (3.9 ) $ (2.6 ) ___________ (a) The three months ended March 31, 2016 include $2.0 million of facilities closure costs related to a corrugated products facility and a paper products facility. (b) The three months ended March 31, 2015 include Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs. (c) The three months ended March 31, 2015 include amounts from restructuring activities at our mill in DeRidder, Louisiana. (d) The three months ended March 31, 2015 include a $3.6 million tax credit from the State of Louisiana related to our capital investment and the jobs retained at the DeRidder, Louisiana mill.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Components of Inventories	The components of inventories were as follows (dollars in millions): March 31, December 31, Raw materials $ 272.0 $ 260.6 Work in process 12.0 14.2 Finished goods 190.6 189.7 Supplies and materials 217.9 212.3 Inventories $ 692.5 $ 676.8

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Components of Property, Plant, and Equipment	The components of property, plant, and equipment were as follows (dollars in millions): March 31, December 31, Land and land improvements $ 146.2 $ 146.4 Buildings 641.3 640.9 Machinery and equipment 4,769.9 4,747.1 Construction in progress 148.3 119.1 Other 64.8 61.3 Property, plant, and equipment, at cost 5,770.5 5,714.8 Less accumulated depreciation (2,952.6 ) (2,882.7 ) Property, plant, and equipment, net $ 2,817.9 $ 2,832.1

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
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): March 31, 2016 December 31, 2015 Weighted Average Remaining Useful Life (in Years) Gross Accumulated Weighted Average Remaining Useful Life (in Years) Gross Accumulated Customer relationships 13.1 $ 311.5 $ 62.4 13.3 $ 311.5 $ 57.3 Trademarks and trade names 13.5 21.8 5.8 13.6 21.8 5.2 Other 1.0 0.2 0.2 1.2 0.2 0.2 Total intangible assets (excluding goodwill) 13.5 $ 333.5 $ 68.4 13.6 $ 333.5 $ 62.7

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Accrued Liabilities [Abstract]
Components of Accrued Liabilities	The components of accrued liabilities were as follows (dollars in millions): March 31, December 31, Compensation and benefits $ 64.3 $ 106.4 Medical insurance and workers’ compensation 30.5 31.1 Franchise, property, and sales and use taxes 15.1 16.0 Customer volume discounts and rebates 11.9 15.3 Environmental liabilities and asset retirement obligations 9.2 7.9 Severance, retention, and relocation 4.8 7.3 Other 8.6 9.5 Total $ 144.4 $ 193.5

Employee Benefit Plans and Ot31

Employee Benefit Plans and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31 2016 2015 Service cost $ 6.1 $ 5.9 Interest cost 10.2 11.5 Expected return on plan assets (12.4 ) (13.3 ) Net amortization of unrecognized amounts Prior service cost 1.4 1.4 Actuarial loss 1.4 2.1 Net periodic benefit cost $ 6.7 $ 7.6 The components of net periodic benefit cost for our postretirement plans were as follows (dollars in millions): Postretirement Plans Three Months Ended March 31 2016 2015 Service cost $ 0.2 $ 0.4 Interest cost 0.2 0.3 Net amortization of unrecognized amounts Prior service cost — — Actuarial loss (0.2 ) 0.1 Net periodic benefit cost $ 0.2 $ 0.8

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
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 three months ended March 31, 2016 : Restricted Stock Performance Units Shares Weighted Average Grant- Date Fair Value Shares Weighted Average Grant- Date Fair Value Outstanding at January 1, 2016 1,007,794 $ 49.47 175,675 $ 59.94 Granted 321 62.35 — — Vested (a) (74,444 ) 46.05 (20,604 ) 57.58 Forfeitures (9,152 ) 59.46 — — Outstanding at March 31, 2016 924,519 $ 49.66 155,071 $ 60.25
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 March 31 2016 2015 Restricted stock $ 4.9 $ 3.6 Performance units 0.7 0.6 Total share-based compensation expense 5.6 4.2 Income tax benefit (2.2 ) (1.6 ) Share-based compensation expense, net of tax benefit $ 3.4 $ 2.6
Unrecognized Compensation For Restricted Stock and Performance Units	The unrecognized compensation expense for all share-based awards at March 31, 2016 was as follows (dollars in millions): March 31, 2016 Unrecognized Compensation Expense Remaining Weighted Average Recognition Period (in years) Restricted stock $ 22.1 2.4 Performance units 5.4 2.6 Total unrecognized share-based compensation expense $ 27.5 2.4

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
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): Unrealized Loss On Treasury Locks, Net Unrealized Loss on Foreign Exchange Contracts Unfunded Employee Benefit Obligations Total Balance at January 1, 2016 $ (21.2 ) $ (0.4 ) $ (103.3 ) $ (124.9 ) Amounts reclassified from AOCI, net of tax 0.9 (a) — 1.6 (b) 2.5 Balance at March 31, 2016 $ (20.3 ) $ (0.4 ) $ (101.7 ) $ (122.4 )
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 March 31 Affected Line Item in the Statement Where Net Income is Presented Details about AOCI Components 2016 2015 Unrealized loss on treasury locks, net $ (1.4 ) $ (1.4 ) See (a) below 0.5 0.6 Tax benefit $ (0.9 ) $ (0.8 ) Net of tax Unfunded employee benefit obligations Amortization of prior service costs $ (1.4 ) $ (1.4 ) See (b) below Amortization of actuarial losses (1.2 ) (2.2 ) See (b) below (2.6 ) (3.6 ) Total before tax 1.0 1.4 Tax benefit $ (1.6 ) $ (2.2 ) 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 ( $3.5 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 14, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2015 Annual Report on Form 10-K. (b) These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 10 , Employee Benefit Plans and Other Postretirement Benefits , for additional information.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 Trade Inter- Total Packaging $ 1,093.8 $ 1.7 $ 1,095.5 $ 159.6 (a) Paper 280.5 — 280.5 36.1 (a) Corporate and Other 26.7 36.0 62.7 (14.9 ) Intersegment eliminations — (37.7 ) (37.7 ) — $ 1,401.0 $ — $ 1,401.0 180.8 Interest expense, net (21.6 ) Income before taxes $ 159.2 Sales, net Operating Income (Loss) Three Months Ended March 31, 2015 Trade Inter- Total Packaging $ 1,097.9 $ 1.4 $ 1,099.3 $ 141.1 (b) Paper 297.3 — 297.3 35.6 Corporate and Other 30.5 30.5 61.0 (19.6 ) (b) Intersegment eliminations — (31.9 ) (31.9 ) — $ 1,425.7 $ — $ 1,425.7 157.1 Interest expense, net (19.2 ) Income before taxes $ 137.9 ___________ (a) The three months ended March 31, 2016 include charges of $2.8 million of facilities closure costs related to a corrugated products facility and a paper products facility. The closure costs are recorded within "Other expense, net" and "Cost of sales", as appropriate. (b) The three months ended March 31, 2015 include charges of $10.3 million primarily for accelerated depreciation at our mill in DeRidder, Louisiana. The three months ended March 31, 2015 include $3.5 million of Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs, and are mostly recorded in "Other expense, net".

Nature of Operations and Basi35

Nature of Operations and Basis of Presentation - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments	3
Deferred finance costs, net	$ 11.9
Adjustments for ASU 2015-03 | Long-term Debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net		$ 12.3
Adjustments for ASU 2015-03 | Other Long-term Assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net		$ (12.3)

Earnings Per Share - Computatio

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
	Mar. 31, 2016	Mar. 31, 2015
Numerator:
Net income	$ 103.7	$ 90.8
Less: distributed and undistributed earnings allocated to participating securities	(1.1)	(1.2)
Net income attributable to common shareholders	$ 102.6	$ 89.6
Denominator:
Weighted average basic common shares outstanding	94.1	97.1
Effect of dilutive securities	0.1	0.1
Diluted common shares outstanding	94.2	97.2
Basic income per common share (in dollars per share)	$ 1.09	$ 0.92
Diluted income per common share (in dollars per share)	$ 1.09	$ 0.92

Other Expense, Net (Details)

Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016		Mar. 31, 2015
Other Income and Expenses [Abstract]
Facilities closure costs and other	$ (2)	[1]	$ 0
Integration-related and other costs	0		(3)	[2]
Asset disposals and write-offs	(1.8)		(1)
DeRidder restructuring	0		(1.2)	[3]
Refundable state tax credit	0		3.6	[3],[4]
Other	(0.1)		(1)
Total	$ (3.9)		$ (2.6)
[1]	The three months ended March 31, 2016 include $2.0 million of facilities closure costs related to a corrugated products facility and a paper products facility.
[2]	The three months ended March 31, 2015 include 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 three months ended March 31, 2015 include amounts from restructuring activities at our mill in DeRidder, Louisiana
[4]	The three months ended March 31, 2015 include a $3.6 million tax credit from the State of Louisiana related to our capital investment and the jobs retained at the DeRidder, Louisiana mill.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income tax provision	$ 55.5	$ 47.1
Effective income tax rate, percent	34.80%	34.20%
Effective income tax rate, at federal statutory income tax rate, percent	35.00%	35.00%
Cash paid for taxes, net of refunds received	$ 5.2	$ 9.8

Inventories - Components of Inv

Inventories - Components of Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 272	$ 260.6
Work in process	12	14.2
Finished goods	190.6	189.7
Supplies and materials	217.9	212.3
Inventories	$ 692.5	$ 676.8

Property, Plant, and Equipmen40

Property, Plant, and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	$ 5,770.5		$ 5,714.8
Less accumulated depreciation	(2,952.6)		(2,882.7)
Property, plant, and equipment, net	2,817.9		2,832.1
Depreciation [Abstract]
Depreciation expense	80.7	$ 85.2
Incremental depreciation expense	0.1	$ 9
Purchases of property, plant, and equipment included in accounts payable	29.4		15
Land and Land Improvements
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	146.2		146.4
Buildings
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	641.3		640.9
Machinery and Equipment
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	4,769.9		4,747.1
Construction in Progress
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	148.3		119.1
Other
Property, Plant, and Equipment [Line Items]
Property, plant, and equipment, at cost	$ 64.8		$ 61.3

Goodwill and Intangible Asset41

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Goodwill [Line Items]
Goodwill	$ 544	$ 544
Packaging
Goodwill [Line Items]
Goodwill	488.8	488.8
Paper
Goodwill [Line Items]
Goodwill	$ 55.2	$ 55.2

Goodwill and Intangible Asset42

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)	13 years 6 months		13 years 6 months 40 days
Gross Carrying Amount	$ 333.5		$ 333.5
Accumulated Amortization	68.4		$ 62.7
Intangible assets amortization expense	$ 5.7	$ 5.7
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)	13 years 1 month		13 years 4 months
Gross Carrying Amount	$ 311.5		$ 311.5
Accumulated Amortization	$ 62.4		$ 57.3
Trademarks and Trade Names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)	13 years 6 months		13 years 6 months 33 days
Gross Carrying Amount	$ 21.8		$ 21.8
Accumulated Amortization	$ 5.8		$ 5.2
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Useful Life (in Years)	1 year		1 year 2 months 12 days
Gross Carrying Amount	$ 0.2		$ 0.2
Accumulated Amortization	$ 0.2		$ 0.2

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Accrued Liabilities [Abstract]
Compensation and benefits	$ 64.3	$ 106.4
Medical insurance and workers’ compensation	30.5	31.1
Franchise, property, and sales and use taxes	15.1	16
Customer volume discounts and rebates	11.9	15.3
Environmental liabilities and asset retirement obligations	9.2	7.9
Severance, retention, and relocation	4.8	7.3
Other	8.6	9.5
Total	$ 144.4	$ 193.5

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Cash payments paid for interest	$ 15.8	$ 15.9
Amortization of treasury lock settlements	1.4	1.4
Amortization of deferred financing costs	0.4	$ 0.4
Deferred finance costs, net	11.9
Unsecured Debt | Seven-Year Term Loan, due October 2020
Debt Instrument [Line Items]
Repayment of debt	$ 1.6
Debt Instrument, Term	7 years
Senior Notes | Fixed-Rate Senior Notes
Debt Instrument [Line Items]
Book value of fixed rate debt	$ 1,650
Long-term debt (fixed-rate debt), fair value	1,744.6
Term Loan | Variable-Rate Term Loans
Debt Instrument [Line Items]
Book value of variable rate debt	$ 660.4
Adjustments for ASU 2015-03 | Long-term Debt
Debt Instrument [Line Items]
Deferred finance costs, net			$ 12.3
Adjustments for ASU 2015-03 | Other Long-term Assets
Debt Instrument [Line Items]
Deferred finance costs, net			$ (12.3)

Employee Benefit Plans and Ot45

Employee Benefit Plans and Other Postretirement Benefits (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6,100,000	$ 5,900,000
Interest cost	10,200,000	11,500,000
Expected return on plan assets	(12,400,000)	(13,300,000)
Net amortization of unrecognized amounts, Prior service cost	1,400,000	1,400,000
Net amortization of unrecognized amounts, Actuarial loss	1,400,000	2,100,000
Net periodic benefit cost	6,700,000	7,600,000
Pension Contributions [Abstract]
Contributions to pension plan	0	0
Expected contributions to pension plan	27,000,000
Postretirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	200,000	400,000
Interest cost	200,000	300,000
Net amortization of unrecognized amounts, Prior service cost	0	0
Net amortization of unrecognized amounts, Actuarial loss	(200,000)	100,000
Net periodic benefit cost	$ 200,000	$ 800,000

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Details) shares in Millions	3 Months Ended
	Mar. 31, 2016shares
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	1.6

Share-based Compensation - Summ

Share-based Compensation - Summary of Restricted Stock and Performance Unit Award Activity (Details)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Restricted Stock
Restricted stock and performance unit award activity (shares) [Roll Forward]
Outstanding at January 1, 2016 | shares	1,007,794
Granted | shares	321
Vested | shares	(74,444)
Forfeitures | shares	(9,152)
Outstanding at March 31, 2016 | shares	924,519
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, 2016 | $ / shares	$ 49.47
Weighted average grant-date fair value of shares granted | $ / shares	62.35
Weighted average grant-date fair value of shares vested | $ / shares	46.05
Weighted average grant-date fair value of shares forfeitures | $ / shares	59.46
Weighted average grant-date fair value of outstanding shares at March 31, 2016 | $ / shares	$ 49.66
Performance Units
Restricted stock and performance unit award activity (shares) [Roll Forward]
Outstanding at January 1, 2016 | shares	175,675
Granted | shares	0
Vested | shares	(20,604)
Forfeitures | shares	0
Outstanding at March 31, 2016 | shares	155,071
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, 2016 | $ / shares	$ 59.94
Weighted average grant-date fair value of shares granted | $ / shares	0
Weighted average grant-date fair value of shares vested | $ / shares	57.58
Weighted average grant-date fair value of shares forfeitures | $ / shares	0
Weighted average grant-date fair value of outstanding shares at March 31, 2016 | $ / shares	$ 60.25

Share-based Compensation - Comp

Share-based Compensation - Compensation Expense for Restricted Stock and Performance Units (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 5.6	$ 4.2
Income tax benefit	(2.2)	(1.6)
Share-based compensation expense, net of tax benefit	3.4	2.6
Restricted Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	4.9	3.6
Performance Units
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total share-based compensation expense	$ 0.7	$ 0.6

Share-based Compensation - Unre

Share-based Compensation - Unrecognized Compensation Expense for Share-Based Awards (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 27.5
Remaining weighted-average recognition period	2 years 4 months 30 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 22.1
Remaining weighted-average recognition period	2 years 4 months 24 days
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 5.4
Remaining weighted-average recognition period	2 years 6 months 30 days

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	Apr. 15, 2016	Feb. 25, 2016	Mar. 31, 2016	Mar. 31, 2015	Feb. 24, 2016
Common stock dividends paid			$ 53.1	$ 39.4
Dividends declared per common share (in US$ per share)		$ 0.55	$ 0.55	$ 0.55
Repurchases of common stock			$ 100.3	$ 7.6
Shares of common stock repurchased			1,987,187
Stock Repurchase Program, Authorized Amount		$ 200			$ 150
Subsequent Event
Common stock dividends paid	$ 51.9

Stockholders' Equity - Changes

Stockholders' Equity - Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2016		$ (124.9)
Amounts reclassified from AOCI, net of tax		2.5
Other comprehensive income		2.5	$ 1.6
Balance at March 31, 2016		(122.4)
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		(3.5)
Unfunded Employee Benefit Obligations
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at January 1, 2016		(103.3)
Amounts reclassified from AOCI, net of tax	[1]	1.6
Balance at March 31, 2016		(101.7)
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, 2016		(21.2)
Amounts reclassified from AOCI, net of tax	[2]	0.9
Balance at March 31, 2016		(20.3)
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, 2016		(0.4)
Amounts reclassified from AOCI, net of tax		0
Balance at March 31, 2016		$ (0.4)
[1]	These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 10, 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 ($3.5 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 14, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2015 Annual Report on Form 10-K.

Stockholders' Equity - Reclassi

Stockholders' Equity - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net		$ (21.6)	$ (19.2)
Income before taxes		159.2	137.9
Income tax benefit		(55.5)	(47.1)
Net income		103.7	90.8
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]	(1.4)	(1.4)
Amortization of actuarial losses	[1]	(1.2)	(2.2)
Income before taxes		(2.6)	(3.6)
Income tax benefit		1	1.4
Net income		(1.6)	(2.2)
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)
Income tax benefit		0.5	0.6
Net income		$ (0.9)	$ (0.8)
[1]	These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 10, 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 ($3.5 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 14, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2015 Annual Report on Form 10-K.

Concentrations of Risk (Details

Concentrations of Risk (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Concentration Risk [Line Items]
Accounts receivable, net, current	$ 631.4		$ 636.5
Office Depot (including OfficeMax) | Credit Concentration Risk
Concentration Risk [Line Items]
Accounts receivable, net, current	$ 33.9		$ 39.5
Office Depot (including OfficeMax) | Total Company Sales Revenue | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	9.00%	10.00%
Office Depot (including OfficeMax) | Total Company Receivables | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	5.00%		6.00%
Paper | Office Depot (including OfficeMax) | Paper Segment Sales Revenue | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	44.00%	46.00%	45.00%

Transactions With Related Par54

Transactions With Related Parties (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Carrying amount of LTP's assets	$ 4.5		$ 4.5
Carrying amount of LTP's liabilities	$ 4.5		$ 4.5
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	$ 22.3	$ 21.9
Fiber costs from related parties	$ 4.7	$ 6.3
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
	Mar. 31, 2016USD ($)		Mar. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments	3
Facilities closure costs and other	$ 2	[1]	$ 0
DeRidder restructuring	0		1.2	[2]
Integration-related and other costs	0		3	[3]
Trade sales	1,401		1,425.7
Net sales	1,401		1,425.7
Operating income (loss)	180.8		157.1
Interest expense, net	(21.6)		(19.2)
Income before taxes	159.2		137.9
Restructuring Charges [Member]
Segment Reporting Information [Line Items]
DeRidder restructuring			10.3
Integration-Related and Other Costs [Member]
Segment Reporting Information [Line Items]
Integration-related and other costs			3.5
Packaging
Segment Reporting Information [Line Items]
Trade sales	1,093.8		1,097.9
Operating income (loss)	159.6	[4]	141.1	[5]
Paper
Segment Reporting Information [Line Items]
Trade sales	280.5		297.3
Operating income (loss)	36.1	[4]	35.6
Corporate and Other
Segment Reporting Information [Line Items]
Trade sales	26.7		30.5
Operating income (loss)	(14.9)		(19.6)	[5]
Intersegment Eliminations
Segment Reporting Information [Line Items]
Intersegment sales	0		0
Intersegment Eliminations | Packaging
Segment Reporting Information [Line Items]
Intersegment sales	1.7		1.4
Intersegment Eliminations | Paper
Segment Reporting Information [Line Items]
Intersegment sales	0		0
Intersegment Eliminations | Corporate and Other
Segment Reporting Information [Line Items]
Intersegment sales	36		30.5
Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,401		1,425.7
Operating Segments | Packaging
Segment Reporting Information [Line Items]
Net sales	1,095.5		1,099.3
Operating Segments | Paper
Segment Reporting Information [Line Items]
Net sales	280.5		297.3
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Net sales	62.7		61
Segment Reconciling Items
Segment Reporting Information [Line Items]
Intersegment sales	(37.7)		(31.9)
Net sales	(37.7)		$ (31.9)
Other Expense and Cost of Sales
Segment Reporting Information [Line Items]
Facilities closure costs and other	$ 2.8
[1]	The three months ended March 31, 2016 include $2.0 million of facilities closure costs related to a corrugated products facility and a paper products facility.
[2]	The three months ended March 31, 2015 include amounts from restructuring activities at our mill in DeRidder, Louisiana
[3]	The three months ended March 31, 2015 include Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs.
[4]	The three months ended March 31, 2016 include charges of $2.8 million of facilities closure costs related to a corrugated products facility and a paper products facility. The closure costs are recorded within "Other expense, net" and "Cost of sales", as appropriate.
[5]	The three months ended March 31, 2015 include charges of $10.3 million primarily for accelerated depreciation at our mill in DeRidder, Louisiana. The three months ended March 31, 2015 include $3.5 million of Boise acquisition integration-related and other costs. These costs primarily relate to professional fees, severance, retention, relocation, travel, and other integration-related costs, and are mostly recorded in "Other expense, net".

New and Recently Adopted Acco56

New and Recently Adopted Accounting Standards (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net	$ 11.9
Long-term Debt | Adjustments for ASU 2015-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net		$ 12.3
Other Long-term Assets | Adjustments for ASU 2015-03
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net		$ (12.3)