Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 07, 2014 | Jun. 30, 2013 | |
Document Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '8-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'SON | ' | ' |
Entity Registrant Name | 'SONOCO PRODUCTS CO | ' | ' |
Entity Central Index Key | '0000091767 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 102,277,365 | ' |
Entity Public Float | ' | ' | $3,448,286,908 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $217,567 | $373,084 |
Trade accounts receivable, net of allowances of $9,771 in 2013 and $7,252 in 2012 | 614,053 | 619,761 |
Other receivables | 38,995 | 36,311 |
Inventories | ' | ' |
Finished and in process | 158,256 | 159,193 |
Materials and supplies | 252,531 | 224,079 |
Prepaid expenses | 57,666 | 65,395 |
Deferred income taxes | 39,406 | 22,073 |
Total Current Assets | 1,378,474 | 1,499,896 |
Property, Plant and Equipment, Net | 1,021,920 | 1,034,906 |
Goodwill | 1,099,207 | 1,110,505 |
Other Intangible Assets, Net | 243,920 | 276,809 |
Long-term Deferred Income Taxes | 67,364 | 90,936 |
Other Assets | 168,406 | 163,013 |
Total Assets | 3,979,291 | 4,176,065 |
Current Liabilities | ' | ' |
Payable to suppliers | 491,809 | 426,786 |
Accrued expenses and other | 261,895 | 281,532 |
Accrued wages and other compensation | 69,671 | 56,004 |
Notes payable and current portion of long-term debt | 35,201 | 273,608 |
Accrued taxes | 8,649 | 6,305 |
Total Current Liabilities | 867,225 | 1,044,235 |
Long-term Debt | 946,257 | 1,099,454 |
Pension and Other Postretirement Benefits | 263,718 | 461,881 |
Deferred Income Taxes | 128,006 | 15,649 |
Other Liabilities | 48,760 | 51,632 |
Commitments and Contingencies | ' | ' |
Sonoco Shareholders' Equity | ' | ' |
Preferred shares, no par value Authorized 300,000 shares 0 shares issued and outstanding at December 31, 2013 and 2012, respectively | ' | ' |
Common shares, no par value Authorized 300,000 shares 102,147 and 100,847 shares issued and outstanding at December 31, 2013 and 2012, respectively | 7,175 | 7,175 |
Capital in excess of stated value | 457,190 | 445,492 |
Accumulated other comprehensive loss | -358,520 | -475,826 |
Retained earnings | 1,604,892 | 1,512,145 |
Total Sonoco Shareholders' Equity | 1,710,737 | 1,488,986 |
Noncontrolling Interests | 14,588 | 14,228 |
Total Equity | 1,725,325 | 1,503,214 |
Total Liabilities and Equity | $3,979,291 | $4,176,065 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowances for trade accounts receivable | $9,771 | $7,252 |
Preferred stock, shares authorized | 30,000,000 | 30,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares issued | 102,147,000 | 100,847,000 |
Common stock, shares outstanding | 102,147,000 | 100,847,000 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Sales | $4,848,092 | $4,786,129 | $4,498,932 |
Cost of sales | 3,974,588 | 3,942,497 | 3,742,149 |
Gross profit | 873,504 | 843,632 | 756,783 |
Selling, general and administrative expenses | 487,171 | 463,715 | 397,477 |
Restructuring/Asset impairment charges | 25,038 | 32,858 | 36,826 |
Income before interest and income taxes | 361,295 | 347,059 | 322,480 |
Interest expense | 59,913 | 64,114 | 41,832 |
Interest income | 3,187 | 4,129 | 3,758 |
Income before income taxes | 304,569 | 287,074 | 284,406 |
Provision for income taxes | 96,203 | 103,759 | 78,423 |
Income before equity in earnings of affiliates | 208,366 | 183,315 | 205,983 |
Equity in earnings of affiliates, net of tax | 12,029 | 12,805 | 12,061 |
Net income | 220,395 | 196,120 | 218,044 |
Net (income) attributable to noncontrolling interests | -1,282 | -110 | -527 |
Net income attributable to Sonoco | $219,113 | $196,010 | $217,517 |
Weighted average common shares outstanding: | ' | ' | ' |
Basic | 102,577 | 101,804 | 101,071 |
Assuming exercise of awards | 671 | 769 | 1,102 |
Diluted | 103,248 | 102,573 | 102,173 |
Net income attributable to Sonoco: | ' | ' | ' |
Basic (usd per share) | $2.14 | $1.93 | $2.15 |
Diluted (usd per share) | $2.12 | $1.91 | $2.13 |
Cash dividends (usd per share) | $1.23 | $1.19 | $1.15 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Partners Capital And Distributions [Line Items] | ' | ' | ' |
Net income | $220,395 | $196,120 | $218,044 |
Other comprehensive income/(loss): | ' | ' | ' |
Foreign currency translation adjustments | -29,308 | 25,016 | -39,051 |
Changes in defined benefit plans, net of tax | 139,227 | -41,498 | -127,798 |
Change in derivative financial instruments, net of tax | 6,465 | 1,460 | -672 |
Comprehensive income | 336,779 | 181,098 | 50,523 |
Net (income) attributable to noncontrolling interests | -1,282 | -110 | -527 |
Other comprehensive loss/(income) attributable to noncontrolling interests | 922 | -505 | 89 |
Comprehensive income attributable to Sonoco | $336,419 | $180,483 | $50,085 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY (USD $) | Total | Common stocks [Member] | Capital in Excess of Stated Value [Member] | Accumulated Other Comprehensive Loss [Member] | Retained Earnings [Member] | Non-controlling Interests [Member] |
In Thousands, except Share data, unless otherwise specified | ||||||
Beginning Balance at Dec. 31, 2010 | $1,507,693 | $7,175 | $441,328 | ($292,867) | $1,336,155 | $15,902 |
Beginning Balance, Shares at Dec. 31, 2010 | ' | 100,510,000 | ' | ' | ' | ' |
Net income | 218,044 | ' | ' | ' | 217,517 | 527 |
Other comprehensive income/(loss): | ' | ' | ' | ' | ' | ' |
Translation gain (loss) | -39,051 | ' | ' | -38,962 | ' | -89 |
Defined benefit plan adjustment | -127,798 | ' | ' | -127,798 | ' | ' |
Derivative financial instruments | -672 | ' | ' | -672 | ' | ' |
Other comprehensive loss | -167,521 | ' | ' | -167,432 | ' | -89 |
Dividends | -116,237 | ' | ' | ' | -116,237 | ' |
Issuance of stock awards | 26,487 | ' | 26,487 | ' | ' | ' |
Issuance of stock awards, Shares | ' | 1,100,000 | ' | ' | ' | ' |
Shares repurchased | -49,442 | ' | -49,442 | ' | ' | ' |
Shares repurchased, Shares | ' | -1,399,000 | ' | ' | ' | ' |
Stock-based compensation | 12,102 | ' | 12,102 | ' | ' | ' |
Purchase of noncontrolling interest | -5,718 | ' | -2,991 | ' | ' | -2,727 |
Ending Balance at Dec. 31, 2011 | 1,425,408 | 7,175 | 427,484 | -460,299 | 1,437,435 | 13,613 |
Ending Balance, Shares at Dec. 31, 2011 | ' | 100,211,000 | ' | ' | ' | ' |
Net income | 196,120 | ' | ' | ' | 196,010 | 110 |
Other comprehensive income/(loss): | ' | ' | ' | ' | ' | ' |
Translation gain (loss) | 25,016 | ' | ' | 24,511 | ' | 505 |
Defined benefit plan adjustment | -41,498 | ' | ' | -41,498 | ' | ' |
Derivative financial instruments | 1,460 | ' | ' | 1,460 | ' | ' |
Other comprehensive loss | -15,022 | ' | ' | -15,527 | ' | 505 |
Dividends | -121,300 | ' | ' | ' | -121,300 | ' |
Issuance of stock awards | 13,324 | ' | 13,324 | ' | ' | ' |
Issuance of stock awards, Shares | ' | 763,000 | ' | ' | ' | ' |
Shares repurchased | -4,167 | ' | -4,167 | ' | ' | ' |
Shares repurchased, Shares | ' | -127,000 | ' | ' | ' | ' |
Stock-based compensation | 8,851 | ' | 8,851 | ' | ' | ' |
Ending Balance at Dec. 31, 2012 | 1,503,214 | 7,175 | 445,492 | -475,826 | 1,512,145 | 14,228 |
Ending Balance, Shares at Dec. 31, 2012 | 100,847,000 | 100,847,000 | ' | ' | ' | ' |
Net income | 220,395 | ' | ' | ' | ' | 1,282 |
Other comprehensive income/(loss): | ' | ' | ' | ' | ' | ' |
Translation gain (loss) | -29,308 | ' | ' | -28,386 | ' | -922 |
Defined benefit plan adjustment | 139,227 | ' | ' | 139,227 | ' | ' |
Derivative financial instruments | 6,465 | ' | ' | 6,465 | ' | ' |
Other comprehensive loss | 116,384 | ' | ' | 117,306 | ' | -922 |
Dividends | -126,366 | ' | ' | ' | -126,366 | ' |
Issuance of stock awards | 27,465 | ' | 27,465 | ' | ' | ' |
Issuance of stock awards, Shares | ' | 2,008,000 | ' | ' | ' | ' |
Shares repurchased | -27,239 | ' | -27,239 | ' | ' | ' |
Shares repurchased, Shares | ' | -708,000 | ' | ' | ' | ' |
Stock-based compensation | 11,472 | ' | ' | ' | ' | ' |
Ending Balance at Dec. 31, 2013 | $1,725,325 | $7,175 | $457,190 | ($358,520) | $1,604,892 | $14,588 |
Ending Balance, Shares at Dec. 31, 2013 | 102,147,000 | 102,147,000 | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows from Operating Activities | ' | ' | ' |
Net income | $220,395 | $196,120 | $218,044 |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' | ' |
Asset impairment | 8,238 | 8,427 | 12,518 |
Depreciation, depletion and amortization | 197,671 | 200,403 | 179,871 |
Share-based compensation expense | 11,472 | 8,851 | 12,102 |
Equity in earnings of affiliates | -12,029 | -12,805 | -12,061 |
Cash dividends from affiliated companies | 13,631 | 9,329 | 11,676 |
(Gain)/Loss on disposition of assets | -493 | -6,690 | 1,907 |
Pension and postretirement plan expense | 61,946 | 52,856 | 36,853 |
Pension and postretirement plan contributions | -42,007 | -75,059 | -142,097 |
Tax effect of share-based compensation exercises | 11,462 | 5,698 | 5,965 |
Excess tax benefit of share-based compensation | -12,456 | -2,682 | -4,018 |
Net increase in deferred taxes | 37,202 | 18,989 | 11,036 |
Change in assets and liabilities, net of effects from acquisitions, dispositions and foreign currency adjustments | ' | ' | ' |
Trade accounts receivable | 162 | 1,190 | -52,484 |
Inventories | -32,787 | 16,157 | 3,423 |
Payable to suppliers | 65,894 | -16,010 | -13,798 |
Prepaid expenses | -1,993 | 1,114 | -2,559 |
Accrued expenses | -368 | -4,059 | -12,174 |
Income taxes payable and other income tax items | 7,093 | -5,350 | 7,344 |
Fox River environmental reserves | -1,848 | -2,796 | -1,959 |
Other assets and liabilities | 6,842 | 10,232 | -14,314 |
Net cash provided by operating activities | 538,027 | 403,915 | 245,275 |
Cash Flows from Investing Activities | ' | ' | ' |
Purchase of property, plant and equipment | -172,442 | -214,862 | -173,372 |
Cost of acquisitions, net of cash acquired | -4,005 | -503 | -566,908 |
Proceeds from the sale of assets | 10,511 | 31,967 | 11,121 |
Investment in affiliates and other | -3,517 | 26 | 0 |
Net cash used by investing activities | -169,453 | -183,372 | -729,159 |
Cash Flows from Financing Activities | ' | ' | ' |
Proceeds from issuance of debt | 57,952 | 7,568 | 680,919 |
Principal repayment of debt | -294,347 | -46,820 | -17,054 |
Net (decrease) increase in commercial paper borrowings | -152,000 | 125,000 | -3,000 |
Net decrease in outstanding checks | -2,825 | -1,600 | -8,533 |
Cash dividends - common | -124,845 | -119,771 | -114,958 |
Excess tax benefit of share-based compensation | 12,456 | 2,682 | 4,018 |
Purchase of noncontrolling interest | ' | 0 | -5,718 |
Shares acquired | -27,239 | -4,167 | -49,442 |
Shares issued | 15,781 | 9,739 | 21,253 |
Net cash (used) provided by financing activities | -515,067 | -27,369 | 507,485 |
Effects of Exchange Rate Changes on Cash | -9,024 | 4,387 | -6,327 |
(Decrease) Increase in Cash and Cash Equivalents | -155,517 | 197,561 | 17,274 |
Cash and cash equivalents at beginning of year | 373,084 | 175,523 | 158,249 |
Cash and cash equivalents at end of year | 217,567 | 373,084 | 175,523 |
Supplemental Cash Flow Disclosures | ' | ' | ' |
Interest paid, net of amounts capitalized | 60,772 | 66,171 | 34,296 |
Income taxes paid, net of refunds | $40,446 | $84,422 | $54,078 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||
Dec. 31, 2013 | |||
Text Block [Abstract] | ' | ||
Summary of Significant Accounting Policies | ' | ||
Summary of significant accounting policies | |||
Basis of presentation | |||
The Consolidated Financial Statements include the accounts of Sonoco Products Company and its majority-owned subsidiaries (the “Company” or “Sonoco”) after elimination of intercompany accounts and transactions. | |||
Investments in affiliated companies in which the Company shares control over the financial and operating decisions, but in which the Company is not the primary beneficiary, are accounted for by the equity method of accounting. Income applicable to these equity investments is reflected in “Equity in earnings of affiliates, net of tax” in the Consolidated Statements of Income. The aggregate carrying value of equity investments is reported in “Other Assets” in the Company’s Consolidated Balance Sheets and totaled $116,193 and $110,687 at December 31, 2013 and 2012, respectively. | |||
Affiliated companies in which the Company held a significant investment at December 31, 2013, included: | |||
Entity | Ownership Interest | ||
Percentage at | |||
December 31, 2013 | |||
RTS Packaging JVCO | 35 | % | |
Cascades Conversion, Inc. | 50 | % | |
Cascades Sonoco, Inc. | 50 | % | |
Showa Products Company Ltd. | 20 | % | |
Conitex Sonoco Holding BVI Ltd. | 30 | % | |
Also included in the investment totals above is the Company’s 19.5% ownership in a small tube and core business in Chile and its 12.19% ownership in a small paper recycling business in Finland. These investments are accounted for under the cost method. | |||
Estimates and assumptions | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||
Revenue recognition | |||
The Company records revenue when title and risk of ownership pass to the customer, and when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price to the customer is fixed or determinable and when collectibility is reasonably assured. Certain judgments, such as provisions for estimates of sales returns and allowances, are required in the application of the Company’s revenue policy and, therefore, are included in the results of operations in its Consolidated Financial Statements. Shipping and handling expenses are included in “Cost of sales,” and freight charged to customers is included in “Net sales” in the Company’s Consolidated Statements of Income. | |||
The Company has rebate agreements with certain customers. These rebates are recorded as reductions of sales and are accrued using sales data and rebate percentages specific to each customer agreement. Accrued customer rebates are included in “Accrued expenses and other” in the consolidated balance sheets. | |||
Accounts receivable and allowance for doubtful accounts | |||
The Company’s trade accounts receivable are non-interest bearing and are recorded at the invoiced amounts. The allowance for doubtful accounts represents the Company’s best estimate of the amount of probable credit losses in existing accounts receivable. Provisions are made to the allowance for doubtful accounts at such time that collection of all or part of a trade account receivable is in question. The allowance for doubtful accounts is monitored on a regular basis and adjustments are made as needed to ensure that the account properly reflects the Company’s best estimate of uncollectible trade accounts receivable. Trade accounts receivable balances that are more than 180 days past due are generally 100% provided for in the allowance for doubtful accounts. Account balances are charged off against the allowance for doubtful accounts when the Company determines that the receivable will not be recovered. | |||
Sales to one of the Company’s customers accounted for approximately 7% of the Company’s net sales in 2013, 9% in 2012 and 9% in 2011, primarily in the Display and Packaging and Consumer Packaging segments. Receivables from this customer accounted for approximately 5% and 8% of the Company’s total trade accounts receivable at December 31, 2013 and 2012, respectively. The Company’s next largest customer comprised approximately 5% of the Company’s net sales in 2013, 2012 and 2011. | |||
Research and development | |||
Research and development costs are charged to expense as incurred and include salaries and other directly related expenses. Research and development costs totaling approximately $20,100 in 2013, $20,200 in 2012 and $18,800 in 2011 are included in “Selling, general and administrative expenses” in the Company’s Consolidated Statements of Income. | |||
Restructuring and asset impairment | |||
Costs associated with exit or disposal activities are recognized when the liability is incurred. If assets become impaired as a result of a restructuring action, the assets are written down to fair value, less estimated costs to sell, if applicable. A number of significant estimates and assumptions are involved in the determination of fair value. The Company considers historical experience and all available information at the time the estimates are made; however, the amounts that are ultimately realized upon the sale of divested assets may differ from the estimated fair values reflected in the Company’s Consolidated Financial Statements. | |||
Cash and cash equivalents | |||
Cash equivalents are composed of highly liquid investments with an original maturity of three months or less. Cash equivalents are recorded at cost, which approximates market. | |||
Inventories | |||
Inventories are stated at the lower of cost or market. The last-in, first-out (LIFO) method is used for the valuation of certain of the Company’s domestic inventories, primarily metal, internally manufactured paper and paper purchased from third parties. | |||
The LIFO method of accounting was used to determine the carrying costs of approximately 17% and 19% of total inventories at December 31, 2013 and 2012, respectively. The remaining inventories are determined on the first-in, first-out (FIFO) method. | |||
If the FIFO method of accounting had been used for all inventories, total inventory would have been higher by $18,146 and $19,476 at December 31, 2013 and 2012, respectively. | |||
Property, plant and equipment | |||
Plant assets represent the original cost of land, buildings and equipment, less depreciation, computed under the straight-line method over the estimated useful lives of the assets, and are reviewed for impairment whenever events indicate the carrying value may not be recoverable. | |||
Equipment lives generally range from 3 to 11 years, and buildings from 15 to 40 years. | |||
Timber resources are stated at cost. Depletion is charged to operations based on the estimated number of units of timber cut during the year. | |||
Goodwill and other intangible assets | |||
The Company evaluates its goodwill for impairment at least annually, and more frequently if indicators of impairment are present. In performing the impairment test, the Company first makes an assessment regarding the likelihood of impairment. If it is not more likely than not that goodwill is impaired for any of its reporting units, no further testing is performed. Otherwise, the Company uses discounted future cash flows to estimate the fair value of each reporting unit it believes may have a goodwill impairment giving consideration to multiples it believes could be obtained in a sale. If the fair value of the reporting unit exceeds the carrying value of the reporting unit’s assets, including goodwill, there is no impairment. If not, and the carrying value of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment charge is recognized for the excess. Goodwill is not amortized. | |||
Intangible assets are amortized, usually on a straight-line basis, over their respective useful lives, which generally range from three to 40 years. The Company evaluates its intangible assets for impairment whenever indicators of impairment exist. The Company has no intangibles with indefinite lives. | |||
Income taxes | |||
The Company provides for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting requirements and tax laws. Assets and liabilities are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. | |||
Derivatives | |||
The Company uses derivatives to mitigate the effect of fluctuations in some of its raw material and energy costs, foreign currency fluctuations and interest rate movements. The Company purchases commodities such as recovered paper, metal and energy generally at market or at fixed prices that are established with the vendor as part of the purchase process for quantities expected to be consumed in the ordinary course of business. The Company may enter into commodity futures or swaps to manage the effect of price fluctuations. The Company may use foreign currency forward contracts and other risk management instruments to manage exposure to changes in foreign currency cash flows and the translation of monetary assets and liabilities on the Company’s consolidated financial statements. The Company is exposed to interest-rate fluctuations as a result of using debt as a source of financing for its operations. The Company may from time to time use traditional, unleveraged interest rate swaps to adjust its mix of fixed and variable rate debt to manage its exposure to interest rate movements. | |||
The Company records its derivatives as assets or liabilities on the balance sheet at fair value using published market prices or estimated values based on current price and/or rate quotes and discounted estimated cash flows. Changes in the fair value of derivatives are recognized either in net income or in other comprehensive income, depending on the designated purpose of the derivative. It is the Company’s policy not to speculate in derivative instruments. | |||
Reportable segments | |||
The Company identifies its reportable segments by evaluating the level of detail reviewed by the chief operating decision maker, gross profit margins, nature of products sold, nature of the production processes, type and class of customer, methods used to distribute product, and nature of the regulatory environment. Of these factors, the Company believes that the most significant are the nature of its products and the type of customers served. | |||
Contingencies | |||
Pursuant to U.S. GAAP for accounting for contingencies, accruals for estimated losses are recorded at the time information becomes available indicating that losses are probable and that the amounts are reasonably estimable. Amounts so accrued are not discounted. |
New_Accounting_Pronouncements
New Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
New Accounting Pronouncements | ' |
New accounting pronouncements | |
In July 2013, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2013-11, "Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." ASU 2013-11 clarifies guidance and eliminates a diversity in practice on the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance is effective for annual reporting periods beginning on or after December 15, 2013, and subsequent interim periods. The Company is currently assessing the impact, if any, that this pronouncement will have on its consolidated financial statements. | |
In February 2013, the FASB issued ASU no. 2013-02, "Reporting of Amounts Classified out of Accumulated Other Comprehensive Income." This update requires an entity to present on the face of the financial statements where net income is presented, or in the notes, significant amounts reclassified out of accumulated other comprehensive income/(loss) by the respective line items of net income, but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The requirements of this update were effective prospectively for reporting periods beginning after December 15, 2012. Accordingly, the disclosures required by this ASU are provided in Note 17 to these consolidated financial statements. | |
During the year ended December 31, 2013, there have been no other newly issued nor newly applicable accounting pronouncements that have, or are expected to have, a material impact on the Company’s financial statements. Further, at December 31, 2013, there were no other pronouncements pending adoption that are expected to have a material impact on the Company’s financial statements. |
Acquisitions
Acquisitions | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Text Block [Abstract] | ' | |||
Acquisitions | ' | |||
Acquisitions | ||||
The Company completed three acquisitions during 2013 at an aggregate cost of $4,005 in cash. These acquisitions consisted of Imagelinx, a global brand artwork management business in the United Kingdom, a small tube and core business in Australia, and a small recycling broker in the United States. The all-cash purchase price of Imagelinx, including the cost of paying off various obligations, was $3,024. In conjunction with this acquisition, the Company recorded net tangible assets of $2,228 and goodwill of $796, the majority of which is expected to be tax deductible. The aggregate all-cash purchase price for the other businesses was $981. In conjunction with these acquisitions, the Company recorded net tangible assets of $909 and identifiable intangibles of $72. These acquisitions are expected to generate annual sales of approximately $12,500 ($10,000 in the Consumer Packaging segment and $2,500 in the Paper and Industrial Converted Products segment). | ||||
Also during 2013, the Company purchased a minority ownership in a small paper recycling business in Finland. The all-cash cost of this investment was $3,628. This investment is recorded in Other Assets. | ||||
The Company completed five acquisitions during 2011 at an aggregate cost of $566,908 in cash. The most significant of these was the November 8, 2011, acquisition of privately held Tegrant Holding Corporation (“Tegrant”), a leading provider of highly engineered protective, temperature-assurance and retail security packaging solutions. Tegrant, headquartered in DeKalb, Illinois, operates more than 30 manufacturing, design and testing facilities in the United States, Mexico and Ireland and employs more than 2,000 persons. Tegrant operates 3 strategic, complementary business units. ProtexicTM Brands, the largest business unit, is a manufacturer of molded expanded foam serving a number of industries including high technology, consumer electronics, automotive, appliances and medical devices. Tegrant’s Thermosafe® Brands unit is a leading provider of temperature-assurance solutions, primarily used in packaging temperature-sensitive pharmaceuticals and food. Tegrant’s Alloyd Brands® business unit is a leading manufacturer and designer of high-visibility packaging, printed products, sealing equipment, and tooling for retail and medical markets. | ||||
The cost of the Tegrant acquisition was $550,000 in cash paid at the time of the purchase plus an additional $503 paid in February 2012 for changes in working capital levels to the date of the closing. The allocation of the purchase price of Tegrant to the tangible and intangible assets acquired and liabilities assumed was finalized during the measurement period which ended in the fourth quarter of 2012. Following is a summary of the fair values of the assets acquired and liabilities assumed at the acquisition date: | ||||
Trade accounts receivable | $ | 61,969 | ||
Inventories | 38,036 | |||
Prepaid expenses | 1,136 | |||
Property, plant and equipment | 92,748 | |||
Goodwill | 269,953 | |||
Other intangible assets | 187,830 | |||
Payables to suppliers | (31,154 | ) | ||
Accrued expenses and other | (41,506 | ) | ||
Total debt | (3,966 | ) | ||
Deferred income taxes, net | (14,695 | ) | ||
Other long-term liabilities | (9,848 | ) | ||
Total net assets | $ | 550,503 | ||
Goodwill recorded in connection with the acquisition totaled $269,953. Factors comprising goodwill include efficiencies derived by the elimination of certain redundant functions and expenses due to synergies with our existing business, the ability to leverage product offerings across a broader customer base, and the value of the assembled workforce. The Company expects approximately $67,000 of the goodwill to be tax deductible. Of the $187,830 of acquired intangibles, $160,300 was assigned to customer relationships with an average expected life of 12 years, $17,600 to trade names with an expected life of 40 years, and $9,930 to proprietary technology and other intangibles with an average expected life of 9 years. | ||||
Also during 2011, the Company completed the acquisitions of several small tube and core businesses in New Zealand and Australia at a total cost of $7,181 in cash, a rigid paperboard containers business in the United Kingdom at a cost of $4,698 in cash, and a recycling business in Greenville, South Carolina, at a cost of $5,029 in cash. In conjunction with these acquisitions, the Company recorded net tangible assets of $6,606, identifiable intangibles of $4,062 and goodwill of $6,240, the majority of which is expected to be tax deductible. | ||||
Acquisition-related costs of $484, $311 and $12,290 were incurred in 2013, 2012 and 2011, respectively. These costs, consisting primarily of legal and professional fees, are included in “Selling, general and administrative expenses” in the Company’s Consolidated Statements of Income. | ||||
The Company has accounted for these acquisitions as business combinations under the acquisition method of accounting, in accordance with the business combinations subtopic of the Accounting Standards Codification and, accordingly, has included their results of operations in the Company’s consolidated statements of net income from the respective dates of acquisition. |
Restructuring_and_Asset_Impair
Restructuring and Asset Impairment | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Restructuring and Asset Impairment | ' | |||||||||||||||
Restructuring and asset impairment | ||||||||||||||||
The Company has engaged in a number of restructuring actions over the past several years. Actions initiated in 2013 and 2012 are reported as “2013 Actions” and “2012 Actions,” respectively. Actions initiated prior to 2012, all of which were substantially complete at December 31, 2013, are reported as “2011 and Earlier Actions.” | ||||||||||||||||
As discussed in Note 16, effective January 1, 2014, Sonoco Alloyd, the Company's retail packaging business and previously part of the Protective Solutions segment began being reported as part of the Display and Packaging segment. The disclosures of restructuring/asset impairment charges by segment in certain of the tables below have been retrospectively revised to reflect this change. | ||||||||||||||||
Following are the total restructuring and asset impairment charges, net of adjustments, recognized by the Company during the periods presented: | ||||||||||||||||
Year Ended December 31 | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Restructuring/Asset impairment: | ||||||||||||||||
2013 Actions | $ | 18,821 | $ | — | $ | — | ||||||||||
2012 Actions | 2,337 | 24,681 | — | |||||||||||||
2011 and Earlier Actions | 3,880 | 8,177 | 36,826 | |||||||||||||
Restructuring/Asset impairment charges | $ | 25,038 | $ | 32,858 | $ | 36,826 | ||||||||||
Income tax benefit | (6,774 | ) | (9,836 | ) | (11,506 | ) | ||||||||||
Equity method investments, net of tax | — | 22 | 17 | |||||||||||||
Benefit attributable to noncontrolling interests, net of tax | 2 | 116 | 200 | |||||||||||||
Total impact of restructuring/asset impairment charges, net of tax | $ | 18,266 | $ | 23,160 | $ | 25,537 | ||||||||||
Pretax restructuring and asset impairment charges are included in “Restructuring/Asset impairment charges” in the Consolidated Statements of Income. | ||||||||||||||||
The Company expects to recognize future additional costs totaling approximately $2,900 in connection with previously announced restructuring actions. The Company believes that the majority of these charges will be incurred and paid by the end of 2014. The Company continually evaluates its cost structure, including its manufacturing capacity, and additional restructuring actions may be undertaken. | ||||||||||||||||
2013 Actions | ||||||||||||||||
During 2013, the Company announced the closures of a thermoforming operation in Ireland and a rigid paper packaging plant in the United States (parts of the Consumer Packaging segment), a small tube and core operation in Europe (part of the Paper and Industrial Converted Products segment), and a fulfillment service center in the United States (part of the Display and Packaging segment). The Company also sold a small corrugated box operation in the United States (part of the Protective Solutions segment) and realigned its cost structure resulting in the elimination of approximately 120 positions. | ||||||||||||||||
Below is a summary of 2013 Actions and related expenses by type incurred and estimated to be incurred through completion. | ||||||||||||||||
2013 Actions | Year Ended December 31, 2013 | Estimated | ||||||||||||||
Total Cost | ||||||||||||||||
Severance and Termination Benefits | ||||||||||||||||
Consumer Packaging | $ | 4,910 | $ | 5,610 | ||||||||||||
Display and Packaging | 1,404 | 1,654 | ||||||||||||||
Paper and Industrial Converted Products | 3,347 | 3,397 | ||||||||||||||
Protective Solutions | 216 | 216 | ||||||||||||||
Asset Impairment/Disposal of Assets | ||||||||||||||||
Consumer Packaging | 5,926 | 5,926 | ||||||||||||||
Display and Packaging | 165 | 165 | ||||||||||||||
Paper and Industrial Converted Products | 492 | 492 | ||||||||||||||
Protective Solutions | 662 | 662 | ||||||||||||||
Other Costs | ||||||||||||||||
Consumer Packaging | 1,021 | 1,471 | ||||||||||||||
Display and Packaging | 97 | 297 | ||||||||||||||
Paper and Industrial Converted Products | 447 | 547 | ||||||||||||||
Protective Solutions | 134 | 234 | ||||||||||||||
Total Charges and Adjustments | $ | 18,821 | $ | 20,671 | ||||||||||||
The following table sets forth the activity in the 2013 Actions restructuring accrual included in “Accrued expenses and other” on the Company’s Consolidated Balance Sheets: | ||||||||||||||||
2013 Actions | Severance | Asset | Other | Total | ||||||||||||
Accrual Activity | and | Impairment/ | Costs | |||||||||||||
Termination | Disposal | |||||||||||||||
Benefits | of Assets | |||||||||||||||
Liability, December 31, 2012 | $ | — | $ | — | $ | — | $ | — | ||||||||
2013 charges | 9,877 | 7,245 | 1,699 | 18,821 | ||||||||||||
Cash receipts/(payments) | (6,716 | ) | 6,641 | (1,699 | ) | (1,774 | ) | |||||||||
Asset write downs/disposals | — | (13,886 | ) | — | (13,886 | ) | ||||||||||
Foreign currency translation | 97 | — | — | 97 | ||||||||||||
Liability, December 31, 2013 | $ | 3,258 | $ | — | $ | — | $ | 3,258 | ||||||||
Included in “Asset Impairment/Disposal of Assets” above are impairment charges of $5,655 related to the Company’s closure of a thermoformed plastics operation in Ireland. This charge consists of a $3,590 impairment of net fixed assets, a $667 impairment of spare parts inventory, and a $1,398 impairment of other intangible assets (customer lists). Included in 2013 charges above is a loss of $286 from the sale of a small corrugated box business in Kennesaw, Georgia, acquired as part of the November 2011 acquisition of Tegrant. The Company received proceeds of $6,200 from the sale of this business which had annual sales of approximately $13,000. Assets written off in connection with the sale included: net fixed assets of $773, net working capital of $1,275, goodwill of $2,430, and other intangible assets (primarily customer lists) of $2,008. | ||||||||||||||||
“Other Costs” consist primarily of costs related to plant closures including equipment removal, utilities, plant security, property taxes and insurance. The Company expects to pay the majority of the remaining 2013 Actions restructuring costs by the end of 2014 using cash generated from operations. | ||||||||||||||||
2012 Actions | ||||||||||||||||
During 2012, the Company announced the closures of a paper mill in Germany (part of the Paper and Industrial Converted Products segment) and a paperboard-based protective packaging operation in the United States (part of the Protective Solutions segment). In addition, the Company continued its rationalization efforts in its blowmolding businesses (part of the Consumer Packaging segment), including the closure of a facility in Canada, and realigned its cost structure resulting in the elimination of approximately 165 positions. | ||||||||||||||||
Below is a summary of 2012 Actions and related expenses by type incurred and estimated to be incurred through completion. | ||||||||||||||||
Year Ended December 31, | Total | Estimated | ||||||||||||||
Incurred to | Total Cost | |||||||||||||||
2012 Actions | 2013 | 2012 | Date | |||||||||||||
Severance and Termination Benefits | ||||||||||||||||
Consumer Packaging | $ | 239 | $ | 2,571 | $ | 2,810 | $ | 2,810 | ||||||||
Display and Packaging | (3 | ) | 1,897 | 1,894 | 1,894 | |||||||||||
Paper and Industrial Converted Products | 384 | 10,329 | 10,713 | 10,713 | ||||||||||||
Protective Solutions | 67 | 999 | 1,066 | 1,066 | ||||||||||||
Corporate | — | 297 | 297 | 297 | ||||||||||||
Asset Impairment/Disposal of Assets | ||||||||||||||||
Consumer Packaging | 154 | 2,921 | 3,075 | 3,075 | ||||||||||||
Display and Packaging | — | — | — | — | ||||||||||||
Paper and Industrial Converted Products | 352 | 2,404 | 2,756 | 2,756 | ||||||||||||
Protective Solutions | (28 | ) | 161 | 133 | 133 | |||||||||||
Other Costs | ||||||||||||||||
Consumer Packaging | 191 | 861 | 1,052 | 1,202 | ||||||||||||
Display and Packaging | 249 | 355 | 604 | 604 | ||||||||||||
Paper and Industrial Converted Products | 722 | 1,294 | 2,016 | 2,216 | ||||||||||||
Protective Solutions | (24 | ) | 592 | 568 | 568 | |||||||||||
Corporate | 34 | — | 34 | 34 | ||||||||||||
Total Charges and Adjustments | $ | 2,337 | $ | 24,681 | $ | 27,018 | $ | 27,368 | ||||||||
The following table sets forth the activity in the 2012 Actions restructuring accrual included in “Accrued expenses and other” on the Company’s Consolidated Balance Sheets: | ||||||||||||||||
2012 Actions | Severance | Asset | Other | Total | ||||||||||||
Accrual Activity | and | Impairment/ | Costs | |||||||||||||
Termination | Disposal | |||||||||||||||
Benefits | of Assets | |||||||||||||||
Liability, December 31, 2011 | $ | — | $ | — | $ | — | $ | — | ||||||||
2012 charges | 16,093 | 5,486 | 3,102 | 24,681 | ||||||||||||
Cash receipts/(payments) | (9,735 | ) | 600 | (3,015 | ) | (12,150 | ) | |||||||||
Asset write downs/disposals | — | (6,086 | ) | — | (6,086 | ) | ||||||||||
Foreign currency translation | (45 | ) | — | (7 | ) | (52 | ) | |||||||||
Liability, December 31, 2012 | $ | 6,313 | $ | — | $ | 80 | $ | 6,393 | ||||||||
2013 charges | 1,085 | 547 | 1,172 | 2,804 | ||||||||||||
Adjustments | (398 | ) | (69 | ) | — | (467 | ) | |||||||||
Cash receipts/(payments) | (5,555 | ) | 42 | (1,252 | ) | (6,765 | ) | |||||||||
Asset write downs/disposals | — | (520 | ) | — | (520 | ) | ||||||||||
Foreign currency translation | 21 | — | — | 21 | ||||||||||||
Liability, December 31, 2013 | $ | 1,466 | $ | — | $ | — | $ | 1,466 | ||||||||
During 2012, the Company completed the sale of the land and building associated with a former flexible packaging facility in Canada and a former fulfillment service center in the United States. The majority of the 2012 activity in “Asset Impairment/Disposal of Assets” in the table above relates to these sales. | ||||||||||||||||
“Other Costs” consist primarily of lease termination costs and costs related to plant closures including the cost of equipment removal, utilities, plant security, property taxes and insurance. The Company expects to pay the majority of the remaining 2012 Actions restructuring costs by the end of 2014 using cash generated from operations. | ||||||||||||||||
2011 and Earlier Actions | ||||||||||||||||
2011 and Earlier Actions are comprised of a number of plant closures and workforce reductions initiated prior to 2012. | ||||||||||||||||
Below is a summary of 2011 and Earlier Actions and related expenses by type incurred. | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
2011 and Earlier Actions | 2013 | 2012 | 2011 | |||||||||||||
Severance and Termination Benefits | ||||||||||||||||
Consumer Packaging | $ | 17 | $ | 3,348 | $ | 7,144 | ||||||||||
Display and Packaging | — | 346 | 842 | |||||||||||||
Paper and Industrial Converted Products | 474 | 331 | 9,673 | |||||||||||||
Protective Solutions | — | 280 | 1,109 | |||||||||||||
Corporate | — | — | 11 | |||||||||||||
Asset Impairment/Disposal of Assets | ||||||||||||||||
Consumer Packaging | (438 | ) | (3,586 | ) | 10,202 | |||||||||||
Display and Packaging | — | (791 | ) | 3,057 | ||||||||||||
Paper and Industrial Converted Products | (451 | ) | (1,735 | ) | (807 | ) | ||||||||||
Protective Solutions | 589 | — | 65 | |||||||||||||
Other Costs | ||||||||||||||||
Consumer Packaging | 2,183 | 4,081 | 1,869 | |||||||||||||
Display and Packaging | — | 827 | 677 | |||||||||||||
Paper and Industrial Converted Products | 1,266 | 4,316 | 2,404 | |||||||||||||
Protective Solutions | 240 | 760 | 580 | |||||||||||||
Total Charges and Adjustments | $ | 3,880 | $ | 8,177 | $ | 36,826 | ||||||||||
The following table sets forth the activity in the 2011 and Earlier Actions restructuring accrual included in “Accrued expenses and other” on the Company’s Consolidated Balance Sheets: | ||||||||||||||||
2011 and Earlier Actions | Severance | Asset | Other | Total | ||||||||||||
Accrual Activity | and | Impairment/ | Costs | |||||||||||||
Termination | Disposal | |||||||||||||||
Benefits | of Assets | |||||||||||||||
Liability, December 31, 2011 | $ | 14,132 | $ | — | $ | 307 | $ | 14,439 | ||||||||
2012 charges | 4,493 | 496 | 9,984 | 14,973 | ||||||||||||
Adjustments | (188 | ) | (6,608 | ) | — | (6,796 | ) | |||||||||
Cash receipts/(payments) | (13,356 | ) | 21,319 | (10,201 | ) | (2,238 | ) | |||||||||
Asset write downs/disposals | — | (15,207 | ) | — | (15,207 | ) | ||||||||||
Foreign currency translation | 58 | — | — | 58 | ||||||||||||
Liability, December 31, 2012 | $ | 5,139 | $ | — | $ | 90 | $ | 5,229 | ||||||||
2013 charges | 581 | 828 | 5,144 | 6,553 | ||||||||||||
Adjustments | (89 | ) | (2,572 | ) | (12 | ) | (2,673 | ) | ||||||||
Cash receipts/(payments) | (2,559 | ) | 2,235 | (5,205 | ) | (5,529 | ) | |||||||||
Asset write downs/disposals | — | (491 | ) | — | (491 | ) | ||||||||||
Foreign currency translation | (9 | ) | — | 1 | (8 | ) | ||||||||||
Liability, December 31, 2013 | $ | 3,063 | $ | — | $ | 18 | $ | 3,081 | ||||||||
“Adjustments” consists primarily of a gain in 2012 on the sale of the land and buildings associated with a previously closed paper mill in Canada and 2011 gains from the sales of both the land and buildings at a former tube and core facility in Canada and machinery and equipment at a point-of-purchase display facility in the United States. “Other Costs” consist primarily of lease termination costs and costs related to plant closures including the cost of equipment removal, utilities, plant security, property taxes and insurance. The Company expects to recognize future pretax charges of approximately $950 associated with 2011 and Earlier Actions. | ||||||||||||||||
The accrual for 2011 and Earlier Actions relates primarily to a pension withdrawal liability associated with a former paper mill in the United States and building lease terminations. The Company expects to pay the majority of the remaining 2011 and Earlier Actions restructuring costs by the end of 2014 using cash generated from operations. |
Cash_and_Cash_Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Cash and Cash Equivalents | ' |
Cash and cash equivalents | |
At December 31, 2013 and 2012, outstanding checks totaling $8,910 and $11,790, respectively, were included in “Payable to suppliers” on the Company’s Consolidated Balance Sheets. In addition, outstanding payroll checks of $501 and $446 as of December 31, 2013 and 2012, respectively, were included in “Accrued wages and other compensation” on the Company’s Consolidated Balance Sheets. | |
The Company uses a notional pooling arrangement with an international bank to help manage global liquidity requirements. Under this pooling arrangement, the Company and its participating subsidiaries may maintain either cash deposit or borrowing positions through local currency accounts with the bank, so long as the aggregate position of the global pool is a notionally calculated net cash deposit. Because it maintains a security interest in the cash deposits, and has the right to offset the cash deposits against the borrowings, the bank provides the Company and its participating subsidiaries favorable interest terms on both. The Company’s Consolidated Balance Sheets reflect a net cash deposit under this pooling arrangement of $7,863 and $11,060 as of December 31, 2013 and 2012, respectively. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Property, Plant and Equipment | ' | |||||||
Property, plant and equipment | ||||||||
Details of the Company's property, plant and equipment at December 31 are as follows: | ||||||||
2013 | 2012 | |||||||
Land | $ | 81,905 | $ | 78,520 | ||||
Timber resources | 40,260 | 39,787 | ||||||
Buildings | 467,386 | 467,888 | ||||||
Machinery and equipment | 2,725,435 | 2,567,403 | ||||||
Construction in progress | 90,770 | 142,689 | ||||||
3,405,756 | 3,296,287 | |||||||
Accumulated depreciation and depletion | (2,383,836 | ) | (2,261,381 | ) | ||||
Property, plant and equipment, net | $ | 1,021,920 | $ | 1,034,906 | ||||
Estimated costs for completion of capital additions under construction totaled approximately $110,000 at December 31, 2013. | ||||||||
Depreciation and depletion expense amounted to $169,400 in 2013, $171,905 in 2012 and $163,198 in 2011. | ||||||||
The Company has certain properties and equipment that are leased under noncancelable operating leases. Future minimum rentals under noncancelable operating leases with terms of more than one year are as follows: 2014 – $42,200; 2015 – $37,700; 2016 – $28,400; 2017 – $19,600; 2018 – $14,300 and thereafter – $34,600. Total rental expense under operating leases was approximately $68,500 in 2013, $68,200 in 2012 and $58,200 in 2011. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||
Goodwill and Other Intangible Assets | ' | |||||||||||||||||||
Goodwill and other intangible assets | ||||||||||||||||||||
Goodwill | ||||||||||||||||||||
The changes in the carrying amount of goodwill by segment for the year ended December 31, 2013, are as follows: | ||||||||||||||||||||
Consumer | Display | Paper and | Protective | Total | ||||||||||||||||
Packaging | and | Industrial | Solutions | |||||||||||||||||
Packaging | Converted | |||||||||||||||||||
Products | ||||||||||||||||||||
Balance as of January 1, 2013 | $ | 427,575 | $ | 204,629 | $ | 254,706 | $ | 223,595 | $ | 1,110,505 | ||||||||||
Goodwill on acquisitions | 796 | — | — | — | 796 | |||||||||||||||
Dispositions | — | — | — | (2,430 | ) | (2,430 | ) | |||||||||||||
Foreign currency translation | (9,606 | ) | — | (58 | ) | — | (9,664 | ) | ||||||||||||
Balance as of December 31, 2013 | $ | 418,765 | $ | 204,629 | $ | 254,648 | $ | 221,165 | $ | 1,099,207 | ||||||||||
As discussed in Note 16, effective January 1, 2014, Sonoco Alloyd, the Company's retail packaging business and previously part of the Protective Solutions segment began being reported as part of the Display and Packaging segment. The amounts of goodwill by reportable segment in the table above have been retrospectively revised to reflect this change. | ||||||||||||||||||||
The Company recorded $796 of goodwill in 2013 in connection with the acquisition of Imagelinx, a global brand artwork management business in the United Kingdom. Also in 2013, the Company disposed of $(2,430) of goodwill associated with the sale of a small corrugated box operation in the United States that had been acquired as part of the Tegrant acquisition in November 2011. | ||||||||||||||||||||
The Company assesses goodwill for impairment annually and from time to time when warranted by the facts and circumstances surrounding individual reporting units or the Company as a whole. As part of this testing, the Company analyzes certain qualitative and quantitative factors in determining goodwill impairment. For most of its reporting units, only a qualitative analysis is required for management to reach a conclusion that it is not more likely than not that goodwill has been impaired. | ||||||||||||||||||||
For any reporting unit where management is not able to reach this conclusion based on its qualitative assessment, a more detailed analysis (i.e. step 1 analysis) is performed. In this analysis, the fair values of the reporting units are estimated utilizing both an income approach and a market approach. A number of significant management assumptions and estimates were reflected in the Company's forecast of future results and cash flows, such as: sales volumes and prices, profit margins, income taxes, capital expenditures and changes in working capital requirements. Changes in these assumptions, along with the discount rate, could materially impact the estimated fair values. | ||||||||||||||||||||
When the Company estimates the fair value of a reporting unit, it does so using a discounted cash flow model based on projections of future years’ operating results and associated cash flows, together with comparable trading and transaction multiples. The Company’s model discounts future cash flows, forecasted over a ten-year period, with an estimated residual growth rate. The Company’s projections incorporate management’s best estimates of the expected future results, which include expectations related to new business, and, where applicable, improved operating margins. Management's projections related to revenue growth and/or margin improvements arise from a combination of factors, including expectations for volume growth with existing customers, increased operational capacity and customer retention. Projected future cash flows are then discounted to present value using a discount rate management believes is commensurate with the risks inherent in the cash flows. | ||||||||||||||||||||
The Company completed its most recent annual goodwill impairment testing during the third quarter of 2013. Based on the results of its qualitative and quantitative assessments, the Company concluded that there was no impairment of goodwill for any of its reporting units. Because the Company's assessments, whether qualitative or quantitative, incorporate management’s expectations for the future, including forecasted growth rates and/or margin improvements, if there are changes in the relevant facts and circumstances and/or expectations, management’s assessment regarding goodwill impairment may change as well. In considering the level of uncertainty regarding the potential for goodwill impairment, management has concluded that any such impairment would likely be the result of adverse changes in more than one assumption. | ||||||||||||||||||||
Although no reporting units failed the qualitative or quantitative assessments noted above, in management’s opinion, the reporting units with significant goodwill having the greatest risk of future impairment if actual results in the future are not as expected are Plastics – Blowmolding and Plastics —Thermoforming. Total goodwill associated with these reporting units was approximately $126,600 and $53,200, respectively, at December 31, 2013. Although management believes that goodwill of the Display and Packaging reporting unit is not currently at risk for impairment, a large portion of sales in this unit is concentrated in one customer and will be up for negotiation over the next few years. Management expects to retain this business; however, if a significant amount is lost and not replaced, it is possible that a goodwill impairment charge may be incurred. Total goodwill associated with this reporting unit was approximately $197,000 at December 31, 2013. | ||||||||||||||||||||
There have been no triggering events subsequent to the completion of the annual goodwill impairment testing in the third quarter of 2013. However, the Plastics – Blowmolding business referenced above continued experiencing some short-term performance issues during the fourth quarter of 2013. The goodwill for this unit could become impaired should the business not exhibit the sustained improvements expected or management's outlook changes. | ||||||||||||||||||||
Other intangible assets | ||||||||||||||||||||
Details at December 31 are as follows: | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Other Intangible Assets, Gross: | ||||||||||||||||||||
Patents | $ | 2,221 | $ | 2,224 | ||||||||||||||||
Customer lists | 339,911 | 345,133 | ||||||||||||||||||
Trade names | 21,232 | 21,214 | ||||||||||||||||||
Proprietary technology | 17,866 | 17,844 | ||||||||||||||||||
Land use rights | 323 | 350 | ||||||||||||||||||
Other | 4,731 | 4,944 | ||||||||||||||||||
Other Intangible Assets, Gross | $ | 386,284 | $ | 391,709 | ||||||||||||||||
Accumulated Amortization | $ | (142,364 | ) | $ | (114,900 | ) | ||||||||||||||
Other Intangible Assets, Net | $ | 243,920 | $ | 276,809 | ||||||||||||||||
Aggregate amortization expense on intangible assets was $28,271, $28,498 and $16,673 for the years ended December 31, 2013, 2012 and 2011, respectively. Amortization expense on intangible assets is expected to approximate $28,100 in 2014, $26,600 in 2015, $26,300 in 2016, $25,800 in 2017 and $25,100 in 2018. |
Debt
Debt | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Debt | ' | |||||||
Debt | ||||||||
Debt at December 31 was as follows: | ||||||||
2013 | 2012 | |||||||
5.75% debentures due November 2040 | $ | 604,520 | $ | 604,688 | ||||
4.375% debentures due November 2021 | 249,106 | 248,991 | ||||||
9.2% debentures due August 2021 | 4,321 | 4,321 | ||||||
5.625% debentures due November 2016 | 75,165 | 75,129 | ||||||
6.5% debentures due November 2013 | — | 118,358 | ||||||
Term loan, due November 2014 | — | 135,000 | ||||||
Commercial paper, average rate of 0.37% in 2013 and 0.37% in 2012 | — | 152,000 | ||||||
Foreign denominated debt, average rate of 4.4% in 2013 and 5.5% in 2012 | 35,268 | 20,358 | ||||||
Other notes | 13,078 | 14,217 | ||||||
Total debt | 981,458 | 1,373,062 | ||||||
Less current portion and short-term notes | 35,201 | 273,608 | ||||||
Long-term debt | $ | 946,257 | $ | 1,099,454 | ||||
The Company currently operates a $350,000 commercial paper program, supported by a committed bank credit facility of the same amount. In October 2012, the Company entered into an amended and restated credit agreement for that facility with a syndicate of eight banks. The bank credit facility is committed through October 2017. If circumstances were to prevent the Company from issuing commercial paper, it has the contractual right to draw funds directly on the underlying bank credit facility. Outstanding commercial paper totaled $0 and $152,000 at December 31, 2013 and 2012, respectively. | ||||||||
During 2013, the Company repatriated a total of $260,000 of accumulated offshore cash, using $135,000 to pay off the balance of the term loan entered into in connection with the Tegrant acquisition in November 2011. The remainder of the repatriated cash was utilized to pay down commercial paper. The Company utilized cash on hand to fund the repayment of its 6.5% debentures upon their maturity in November 2013. | ||||||||
At December 31, 2013, the Company had approximately $122,000 available under unused short-term lines of credit. These short-term lines of credit are for general Company purposes, with interest at mutually agreed-upon rates. | ||||||||
Certain of the Company’s debt agreements impose restrictions with respect to the maintenance of financial ratios and the disposition of assets. The most restrictive covenant currently requires the Company to maintain a minimum level of interest coverage, and a minimum level of net worth, as defined. As of December 31, 2013, the Company had substantial tolerance above the minimum levels required under these covenants. | ||||||||
The principal requirements of debt maturing in the next five years are: 2014 – $35,201; 2015 – $1,815; 2016 – $76,897; 2017 – $1,705 and 2018 – $1,685. |
Financial_Instruments_and_Deri
Financial Instruments and Derivatives | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Financial Instruments and Derivatives | ' | |||||||||||||||
Financial instruments and derivatives | ||||||||||||||||
The following table sets forth the carrying amounts and fair values of the Company’s significant financial instruments where the carrying amount differs from the fair value. | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Long-term debt | $ | 946,257 | $ | 999,247 | $ | 1,099,454 | $ | 1,214,292 | ||||||||
The carrying value of cash and cash equivalents, short-term debt and long-term variable-rate debt approximates fair value. The fair value of long-term debt is based on recent trade information in the financial markets of the Company’s public debt or is determined by discounting future cash flows using interest rates available to the Company for issues with similar terms and maturities. It is considered a Level 2 fair value measurement. | ||||||||||||||||
Cash flow hedges | ||||||||||||||||
At December 31, 2013 and 2012, the Company had derivative financial instruments outstanding to hedge anticipated transactions and certain asset and liability related cash flows. To the extent considered effective, the changes in fair value of these contracts are recorded in other comprehensive income and reclassified to income or expense in the period in which the hedged item impacts earnings. The Company has determined all hedges to be highly effective and as a result no material ineffectiveness has been recorded. | ||||||||||||||||
Commodity cash flow hedges | ||||||||||||||||
The Company has entered into certain derivative contracts to manage the cost of anticipated purchases of natural gas and aluminum. At December 31, 2013, natural gas swaps covering approximately 6.7 million MMBTUs were outstanding. These contracts represent approximately 56% and 28% of anticipated U.S. and Canadian usage for 2014 and 2015, respectively. Additionally, the Company had swap contracts covering 6,650 metric tons of aluminum, representing approximately 34% of anticipated usage for 2014. The total fair values of the Company’s commodity cash flow hedges were in net loss positions totaling $(330) and $(6,286) at December 31, 2013 and 2012, respectively. The amount of the loss included in accumulated other comprehensive loss at December 31, 2013, expected to be reclassified to the income statement during the next twelve months is $(689). | ||||||||||||||||
Foreign currency cash flow hedges | ||||||||||||||||
The Company has entered into forward contracts to hedge certain anticipated foreign currency denominated sales and purchases forecasted to occur in 2014. The net positions of these contracts at December 31, 2013, were as follows: | ||||||||||||||||
Currency | Action | Quantity | ||||||||||||||
Colombian peso | Purchase | 14,773,186 | ||||||||||||||
Mexican peso | Purchase | 273,681 | ||||||||||||||
Canadian dollar | Purchase | 52,973 | ||||||||||||||
Turkish lira | Purchase | 6,604 | ||||||||||||||
British pound | Purchase | 4,153 | ||||||||||||||
Polish zloty | Purchase | 2,651 | ||||||||||||||
New Zealand dollar | Sell | (3,123 | ) | |||||||||||||
Australian dollar | Sell | (6,405 | ) | |||||||||||||
Euro | Sell | (7,459 | ) | |||||||||||||
The total net fair values of the Company’s foreign currency cash flow hedges were $(97) and $(4,483) at December 31, 2013 and 2012, respectively. During 2013 and 2012, certain foreign currency cash flow hedges related to construction in progress were settled as the capital expenditures were made. Losses totaling $(81) and $(26) were reclassified from accumulated other comprehensive loss and netted against the carrying value of the capitalized expenditures during the years ended December 31, 2013 and 2012, respectively. The amount of the loss included in accumulated other comprehensive loss at December 31, 2013, expected to be reclassified to the income statement during the next twelve months is $(119). | ||||||||||||||||
Other derivatives | ||||||||||||||||
The Company routinely enters into forward contracts or swaps to economically hedge the currency exposure of intercompany debt and existing foreign currency denominated receivables and payables. The Company does not apply hedge accounting treatment under ASC 815 for these instruments. As such, changes in fair value are recorded directly to income and expense in the periods that they occur. The net positions of these contracts at December 31, 2013, were as follows: | ||||||||||||||||
Currency | Action | Quantity | ||||||||||||||
Colombian peso | Purchase | 17,172,892 | ||||||||||||||
Mexican peso | Purchase | 164,010 | ||||||||||||||
Canadian dollar | Purchase | 13,894 | ||||||||||||||
British pound | Purchase | 6,105 | ||||||||||||||
Euro | Sell | (2,284 | ) | |||||||||||||
The fair value of the Company’s other derivatives was $415 and $708 at December 31, 2013 and 2012, respectively. | ||||||||||||||||
The Company has determined all derivatives for which it has applied hedge accounting under ASC 815 to be highly effective and as a result no material ineffectiveness has been recorded during the periods presented. | ||||||||||||||||
The following table sets forth the location and fair values of the Company’s derivative instruments: | ||||||||||||||||
Fair Value at December 31 | ||||||||||||||||
Description | Balance Sheet Location | 2013 | 2012 | |||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||
Commodity Contracts | Prepaid expenses | $ | 535 | $ | 201 | |||||||||||
Commodity Contracts | Other assets | $ | 363 | $ | — | |||||||||||
Commodity Contracts | Accrued expenses and other | $ | (1,228 | ) | $ | (4,760 | ) | |||||||||
Commodity Contracts | Other liabilities | $ | — | $ | (1,727 | ) | ||||||||||
Foreign Exchange Contracts | Prepaid expenses | $ | 896 | $ | 725 | |||||||||||
Foreign Exchange Contracts | Accrued expenses and other | $ | (993 | ) | $ | (5,208 | ) | |||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Foreign Exchange Contracts | Prepaid expenses | $ | 468 | $ | 679 | |||||||||||
Foreign Exchange Contracts | Other Assets | $ | — | $ | 36 | |||||||||||
Foreign Exchange Contracts | Accrued expenses and other | $ | (53 | ) | $ | (7 | ) | |||||||||
While certain of the Company's derivative contract arrangements with its counterparties provide for the ability to settle contracts on a net basis, the Company reports its derivative positions on a gross basis. There are no collateral arrangements or requirements in these agreements. | ||||||||||||||||
The following table sets forth the effect of the Company’s derivative instruments on financial performance for the twelve months ended December 31, 2013, excluding the losses on foreign currency cash flow hedges that were reclassified from accumulated other comprehensive loss to the carrying value of the capitalized expenditures: | ||||||||||||||||
Description | Amount of Gain or | Location of Gain or | Amount of Gain | Location of Gain or | Amount of Gain or | |||||||||||
(Loss) Recognized | (Loss) Reclassified | or (Loss) | (Loss) Recognized | (Loss) Recognized | ||||||||||||
in OCI on | from Accumulated | Reclassified from | in Income on | in Income on | ||||||||||||
Derivative | OCI Into Income | Accumulated OCI | Derivative | Derivative | ||||||||||||
(Effective Portion) | (Effective Portion) | Into Income | (Ineffective Portion) | (Ineffective Portion) | ||||||||||||
(Effective | ||||||||||||||||
Portion) | ||||||||||||||||
Derivatives in Cash Flow | ||||||||||||||||
Hedging Relationships: | ||||||||||||||||
Foreign Exchange Contracts | $ | 5,928 | Net sales | $ | 4,603 | Net sales | $ | — | ||||||||
Cost of sales | $ | (2,996 | ) | Cost of sales | $ | — | ||||||||||
Commodity Contracts | $ | 488 | Cost of sales | $ | (5,455 | ) | Cost of sales | $ | 13 | |||||||
Location of Gain or | Gain or (Loss) | |||||||||||||||
(Loss) Recognized | Recognized | |||||||||||||||
in Income | ||||||||||||||||
Statement | ||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Foreign Exchange Contracts | Cost of sales | $ | (235 | ) | ||||||||||||
Selling, general and | $ | (58 | ) | |||||||||||||
administrative | ||||||||||||||||
The following table sets forth the effect of the Company’s derivative instruments on financial performance for the twelve months ended December 31, 2012, excluding the gains on foreign currency cash flow hedges that were reclassified from accumulated other comprehensive loss to the carrying value of the capitalized expenditures: | ||||||||||||||||
Description | Amount of Gain or | Location of Gain or | Amount of Gain | Location of Gain or | Amount of Gain or | |||||||||||
(Loss) Recognized | (Loss) Reclassified | or (Loss) | (Loss) Recognized | (Loss) Recognized | ||||||||||||
in OCI on | from Accumulated | Reclassified from | in Income on | in Income on | ||||||||||||
Derivative | OCI Into Income | Accumulated OCI | Derivative | Derivative | ||||||||||||
(Effective Portion) | (Effective Portion) | Into Income | (Ineffective Portion) | (Ineffective Portion) | ||||||||||||
(Effective | ||||||||||||||||
Portion) | ||||||||||||||||
Derivatives in Cash Flow Hedging Relationships: | ||||||||||||||||
Foreign Exchange Contracts | $ | (3,914 | ) | Net sales | $ | 336 | Net sales | $ | — | |||||||
Cost of sales | $ | 870 | Cost of sales | $ | — | |||||||||||
Commodity Contracts | $ | 1,891 | Cost of sales | $ | (5,639 | ) | Cost of sales | $ | (35 | ) | ||||||
Location of Gain or | Gain or (Loss) | |||||||||||||||
(Loss) Recognized in | Recognized | |||||||||||||||
Income | ||||||||||||||||
Statement | ||||||||||||||||
Derivatives not designated | ||||||||||||||||
as hedging instruments: | ||||||||||||||||
Foreign Exchange Contracts | Cost of sales | $ | 1,414 | |||||||||||||
Selling, general | $ | 40 | ||||||||||||||
and administrative | ||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair value measurements | ||||||||||||||||
Fair value is defined as exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier fair value hierarchy is used to prioritize the inputs in measuring fair value as follows: | ||||||||||||||||
Level 1 – | Observable inputs such as quoted market prices in active markets; | |||||||||||||||
Level 2 – | Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and | |||||||||||||||
Level 3 – | Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. | |||||||||||||||
The following tables set forth information regarding the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis: | ||||||||||||||||
Description | 31-Dec-13 | Level 1 | Level 2 | Level 3 | ||||||||||||
Hedge derivatives, net: | ||||||||||||||||
Commodity contracts | $ | (330 | ) | $ | — | $ | (330 | ) | $ | — | ||||||
Foreign exchange contracts | (97 | ) | — | (97 | ) | — | ||||||||||
Non-hedge derivatives, net: | ||||||||||||||||
Foreign exchange contracts | 415 | — | 415 | — | ||||||||||||
Deferred compensation plan assets | 859 | 859 | — | — | ||||||||||||
Postretirement benefit plan assets: | ||||||||||||||||
Mutual funds(a) | 789,863 | 139,657 | 650,206 | — | ||||||||||||
Fixed income securities(b) | 358,643 | — | 358,643 | — | ||||||||||||
Common stocks | 64,182 | 64,182 | — | — | ||||||||||||
Short-term investments(c) | 15,825 | 12,673 | 3,152 | — | ||||||||||||
Hedge fund of funds(d) | 78,389 | — | 78,389 | — | ||||||||||||
Real estate funds(e) | 45,169 | — | 45,169 | — | ||||||||||||
Cash and accrued income | 2,427 | 2,427 | — | — | ||||||||||||
Forward contracts | (67 | ) | — | (67 | ) | — | ||||||||||
Total postretirement benefit plan assets | $ | 1,354,431 | $ | 218,939 | $ | 1,135,492 | $ | — | ||||||||
Description | 31-Dec-12 | Level 1 | Level 2 | Level 3 | ||||||||||||
Hedge derivatives, net: | ||||||||||||||||
Commodity contracts | $ | (6,286 | ) | $ | — | $ | (6,286 | ) | $ | — | ||||||
Foreign exchange contracts | (4,483 | ) | — | (4,483 | ) | — | ||||||||||
Non-hedge derivatives, net: | ||||||||||||||||
Foreign exchange contracts | 708 | — | 708 | — | ||||||||||||
Deferred compensation plan assets | 2,585 | 2,585 | — | — | ||||||||||||
Postretirement benefit plan assets: | ||||||||||||||||
Mutual funds(a) | 871,988 | 62,274 | 809,714 | — | ||||||||||||
Fixed income securities(b) | 226,828 | — | 226,828 | — | ||||||||||||
Common stocks | 61,756 | 61,756 | — | — | ||||||||||||
Short-term investments(c) | 8,857 | 3,834 | 5,023 | — | ||||||||||||
Hedge fund of funds(d) | 71,685 | — | 71,685 | — | ||||||||||||
Real estate funds(e) | 45,892 | — | 45,892 | — | ||||||||||||
Cash and accrued income | 2,048 | 2,048 | — | — | ||||||||||||
Forward contracts | (485 | ) | — | (485 | ) | — | ||||||||||
Total postretirement benefit plan assets | $ | 1,288,569 | $ | 129,912 | $ | 1,158,657 | $ | — | ||||||||
(a) | Mutual fund investments are comprised predominantly of equity securities of U.S. corporations with large capitalizations and also include funds invested in corporate equities in international and emerging markets and funds invested in long-term bonds. | |||||||||||||||
(b) | Fixed income securities include funds that invest primarily in U.S. Treasuries and long-term bonds. | |||||||||||||||
(c) | This category includes several money market funds used for managing overall liquidity. | |||||||||||||||
(d) | This category includes investments in a number of funds representing a variety of strategies intended to diversify risks and reduce volatility. It includes event-driven credit and equity investments targeted at economic policy decisions, long and short positions in U.S. and international equities, arbitrage investments and emerging market equity investments. | |||||||||||||||
(e) | This category includes investments in real estate funds (including office, industrial, residential and retail) primarily throughout the United States. | |||||||||||||||
The Company’s pension plan assets comprise more than 98% of its total postretirement benefit plan assets. The assets of the Company’s various pension plans and retiree health and life insurance plans are largely invested in the same funds and investments and in similar proportions and, as such, are not shown separately, but are combined in the tables above. Postretirement benefit plan assets are netted against postretirement benefit obligations to determine the funded status of each plan. The funded status is recognized in the Company’s Consolidated Balance Sheets as shown in Note 12. | ||||||||||||||||
As discussed in Note 9, the Company uses derivatives to mitigate the effect of raw material and energy cost fluctuations, foreign currency fluctuations and, from time to time, interest rate movements. Fair value measurements for the Company’s derivatives are classified under Level 2 because such measurements are estimated based on observable inputs such as interest rates, yield curves, spot and future commodity prices and spot and future exchange rates. | ||||||||||||||||
Certain deferred compensation plan liabilities are funded and the assets invested in various exchange traded mutual funds. These assets are measured using quoted prices in accessible active markets for identical assets. | ||||||||||||||||
The Company does not currently have any nonfinancial assets or liabilities that are recognized or disclosed at fair value on a recurring basis. None of the Company's financial assets or liabilities is measured at fair value using significant unobservable inputs. There were no transfers in or out of Level 1 or Level 2 fair value measurements during the years ended December 31, 2013 or 2012. |
Sharebased_Compensation_Plans
Share-based Compensation Plans | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Share-based Compensation Plans | ' | ||||||||||||
Share-based compensation plans | |||||||||||||
The Company provides share-based compensation to certain employees and non-employee directors in the form of stock appreciation rights, restricted stock units and other share-based awards. Awards issued prior to 2009 were issued pursuant to the 1991 Key Employee Stock Plan (the “1991 Plan”) or the 1996 Non-Employee Directors Stock Plan (the “1996 Plan”). Awards issued from 2009 through 2011 were issued pursuant to the Sonoco Products Company 2008 Long-Term Incentive Plan (the “2008 Plan”). Awards issued from 2012 onward were issued pursuant to the Sonoco Products Company 2012 Long-Term Incentive Plan (the “2012 Plan”) , which became effective upon approval by the shareholders on April 18, 2012. The maximum number of shares of common stock that may be issued under the 2012 Plan was set at 10,500,000 shares, subject to certain adjustments, which includes all awards that were granted, forfeited or expired during 2012 under all previous plans. At December 31, 2013, a total of 5,013,920 shares remain available for future grant under the 2012 Plan. After the effective date of the 2012 Plan, no awards may be granted under any previous plan. The Company issues new shares for stock appreciation right exercises and stock unit conversions. Although the Company from time to time has repurchased shares to replace its authorized shares issued under its stock compensation plans, there is no specific schedule or policy to do so. The Company’s stock-based awards to non-employee directors have not been material. | |||||||||||||
Accounting for share-based compensation | |||||||||||||
For stock appreciation rights granted to retiree-eligible employees, the service completion date is assumed to be the grant date; therefore, expense associated with share-based compensation to these employees is recognized at that time. | |||||||||||||
Total compensation cost for share-based payment arrangements was $11,472, $8,851 and $12,102, for 2013, 2012 and 2011, respectively. The related tax benefit recognized in net income was $4,163, $3,113, and $4,421, for the same years, respectively. Share-based compensation expense is included in “Selling, general and administrative expenses” in the Consolidated Statements of Income. | |||||||||||||
An “excess” tax benefit is created when the tax deduction for an exercised stock appreciation right, exercised stock option or converted stock unit exceeds the compensation cost that has been recognized in income. The excess tax benefit is not recognized on the income statement, but rather on the balance sheet as “Capital in excess of stated value.” The additional net excess tax benefit realized was $12,456, $2,682 and $4,018 for 2013, 2012 and 2011, respectively. | |||||||||||||
Stock appreciation rights | |||||||||||||
The Company typically grants stock appreciation rights (SARs) annually on a discretionary basis to key employees. In 2006, the Company began to grant SARs instead of stock options. SARs are granted at market, vest over 1 year, have seven-year terms and can be settled only in stock. Prior to 2006, stock options were granted at market (had an exercise price equal to the closing market price on the date of grant), had 10-year terms and vested over one year. Both SARs and stock options are exercisable upon vesting. On February 13, 2013, the Company granted to employees a total of 852,157 stock-settled SARs. All SARs were granted at the closing market price on the date of grant. As of December 31, 2013, unrecognized compensation cost related to nonvested SARs totaled $198. This cost will be recognized over the remaining weighted-average vesting period of approximately two months. | |||||||||||||
The weighted-average fair value of SARs granted was $4.56, $6.57 and $8.42 per share in 2013, 2012 and 2011, respectively. The Company computed the estimated fair values of all SARs using the Black-Scholes option-pricing model applying the assumptions set forth in the following table: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected dividend yield | 3.9 | % | 3.5 | % | 3.1 | % | |||||||
Expected stock price volatility | 24.7 | % | 32.3 | % | 33.8 | % | |||||||
Risk-free interest rate | 0.6 | % | 0.6 | % | 2.1 | % | |||||||
Expected life of SARs | 4 years | 4 years | 4 years | ||||||||||
The assumptions employed in the calculation of the fair value of SARs were determined as follows: | |||||||||||||
• | Expected dividend yield – the Company’s annual dividend divided by the stock price at the time of grant. | ||||||||||||
• | Expected stock price volatility – based on historical volatility of the Company’s common stock measured weekly for a time period equal to the expected life. | ||||||||||||
• | Risk-free interest rate – based on U.S. Treasury yields in effect at the time of grant for maturities equal to the expected life. | ||||||||||||
• | Expected life – calculated using the simplified method as prescribed in U.S. GAAP, where the expected life is equal to the sum of the vesting period and the contractual term divided by two. | ||||||||||||
The following tables summarize information about stock options and SARs outstanding and exercisable at December 31, 2013. At December 31, 2013, the fair market value of the Company’s stock used to calculate intrinsic value was $41.72 per share. | |||||||||||||
Options and SARs Vested and Expected to Vest | |||||||||||||
Range of | Number | Weighted- | Weighted- | Aggregate | |||||||||
Exercise Prices | Outstanding | average | average | Intrinsic | |||||||||
Remaining | Exercise | Value | |||||||||||
Contractual | Price | ||||||||||||
Life | |||||||||||||
$23.69 - $28.48 | 802,260 | 2.1 years | $26.91 | $ | 11,884 | ||||||||
$29.30 - $32.03 | 1,100,792 | 4.9 years | $31.39 | $ | 11,374 | ||||||||
$32.85 - $43.83 | 1,101,635 | 4.3 years | $34.76 | $ | 7,670 | ||||||||
$23.69 - $43.83 | 3,004,687 | 3.9 years | $31.43 | $ | 30,928 | ||||||||
Options and SARs Exercisable | |||||||||||||
Range of | Number | Weighted- | Weighted- | Aggregate | |||||||||
Exercise Prices | Exercisable | average | average | Intrinsic | |||||||||
Remaining | Exercise | Value | |||||||||||
Contractual | Price | ||||||||||||
Life | |||||||||||||
$23.69 - $28.48 | 802,260 | 2.1 years | $26.91 | $ | 11,884 | ||||||||
$29.30 - $32.03 | 262,185 | 1.1 years | $29.33 | $ | 3,248 | ||||||||
$32.85 - $43.83 | 1,101,635 | 4.3 years | $34.76 | $ | 7,670 | ||||||||
$23.69 - $43.83 | 2,166,080 | 3.1 years | $31.20 | $ | 22,802 | ||||||||
The activity related to the Company’s stock options and SARs is as follows: | |||||||||||||
Nonvested | Vested | Total | Weighted- | ||||||||||
average | |||||||||||||
Exercise | |||||||||||||
Price | |||||||||||||
Outstanding, December 31, 2012 | 726,510 | 4,324,230 | 5,050,740 | $ | 30.63 | ||||||||
Vested | (726,510 | ) | 726,510 | — | |||||||||
Granted | 852,157 | — | 852,157 | $ | 32.03 | ||||||||
Exercised | — | (2,326,215 | ) | (2,326,215 | ) | $ | 29.44 | ||||||
Forfeited/Expired | (13,550 | ) | (558,445 | ) | (571,995 | ) | $ | 33.1 | |||||
Outstanding, December 31, 2013 | 838,607 | 2,166,080 | 3,004,687 | $ | 31.43 | ||||||||
The aggregate intrinsic value of options and SARs exercised during the years ended December 31, 2013, 2012 and 2011 was $13,838, $4,193 and $10,123, respectively. Cash received by the Company on option exercises was $15,781, $9,739 and $21,253 for the same years, respectively. | |||||||||||||
Performance-based stock awards | |||||||||||||
The Company typically grants performance contingent restricted stock units (PCSUs) annually on a discretionary basis to certain of its executives and other members of its management team. Both the ultimate number of PCSUs awarded and the vesting period are dependent upon the degree to which performance targets are achieved over three-year performance periods. Half of the units available to be earned are tied to an earnings target and half are tied to a return on assets target. If the respective performance target is met, units awarded vest at the end of the three-year performance period. In the event performance targets are not met, a minimum number of units are awarded and vest 50% at the end of four years and 50% at the end of five years. Upon vesting, PCSUs are convertible into common shares on a one-for-one basis. | |||||||||||||
For the awards granted in 2013 and 2012, the total PCSUs that could ultimately vest ranges from 311,913 to 935,738. The 2013 awards can range from 151,045 to 453,135 units and are tied to the three-year period ending December 31, 2015. The 2012 awards can range from 160,868 to 482,603 units and are tied to the three-year period ending December 31, 2014. | |||||||||||||
The three-year performance cycle for the 2011 awards was completed on December 31, 2013. Based on performance, only 123,413 stock units will be awarded, which was the minimum provided for under the award, and did not qualify for accelerated vesting. Therefore, half of these stock units will vest on December 31, 2014 and the remaining half will vest on December 31, 2015. | |||||||||||||
Noncash stock-based compensation associated with PCSUs totaled $4,427, $2,164 and $5,354 for 2013, 2012 and 2011, respectively. As of December 31, 2013, there was approximately $9,160 of total unrecognized compensation cost related to nonvested PCSUs. This cost is expected to be recognized over a weighted-average period of 20 months. | |||||||||||||
Restricted stock awards | |||||||||||||
From time to time, the Company grants awards of restricted stock units to certain of the Company’s executives. These awards normally vest over a five-year period with one-third vesting on each of the third, fourth and fifth anniversaries of the grant, but may vest over a shorter period in some circumstances. An executive must be actively employed by the Company on the vesting date for shares to be issued. However, in the event of the executive’s death, disability or retirement prior to full vesting, shares will be issued on a pro rata basis up through the time the executive’s employment ceases. Participants can elect to defer receipt. Once vested, these awards do not expire. As of December 31, 2013, a total of 221,434 restricted stock units remained outstanding, 75,876 of which were vested. During 2013, 34,925 restricted stock units vested and 93,400 restricted stock units were granted. Noncash stock-based compensation associated with restricted stock grants totaled $1,358, $869 and $365 for 2013, 2012 and 2011, respectively. As of December 31, 2013, there was $2,781 of total unrecognized compensation cost related to nonvested restricted stock units. This cost is expected to be recognized over a weighted-average period of 21 months. | |||||||||||||
The activity related to the PCSUs and restricted stock units is as follows: | |||||||||||||
Nonvested | Vested | Total | Average Grant | ||||||||||
Date Fair | |||||||||||||
Value Per Share | |||||||||||||
Outstanding, December 31, 2012 | 492,114 | 1,178,903 | 1,671,017 | $ | 27.83 | ||||||||
Granted | 445,098 | — | 445,098 | $ | 28.9 | ||||||||
Performance adjustments | (112,536 | ) | (4 | ) | (112,540 | ) | $ | 31.82 | |||||
Vested | (37,368 | ) | 37,368 | — | |||||||||
Converted | — | (956,802 | ) | (956,802 | ) | $ | 25.87 | ||||||
Dividend equivalents | 5,621 | 29,271 | 34,892 | $ | 36.13 | ||||||||
Outstanding, December 31, 2013 | 792,929 | 288,736 | 1,081,665 | $ | 29.85 | ||||||||
Deferred compensation plans | |||||||||||||
Certain officers and directors of the Company may elect to defer a portion of their compensation in the form of stock units. Units are granted as of the day the cash compensation would have otherwise been paid using the closing price of the Company’s common stock on that day. The units immediately vest and earn dividend equivalents. Units are distributed in the form of common stock upon retirement over a period elected by the employee or director. Cash compensation totaling $984 was deferred as stock units during 2013, resulting in 28,647 units being granted. | |||||||||||||
Since 2006, non-employee directors have been required to defer a minimum of 50% of their quarterly retainer fees into stock units. Units are granted as of the day the cash compensation would have otherwise been paid using the closing price of the Company’s common stock on that day. The units immediately vest and earn dividend equivalents. Distributions begin after retirement from the board over a period elected by the director. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Employee Benefit Plans | ' | |||||||||||||||
Employee benefit plans | ||||||||||||||||
Retirement plans and retiree health and life insurance plans | ||||||||||||||||
The Company provides non-contributory defined benefit pension plans for a majority of its employees in the United States, and certain of its employees in Mexico and Belgium. Effective December 31, 2003, the Company froze participation for newly hired salaried and non-union hourly U.S. employees in its traditional defined benefit pension plan. At that time, the Company adopted a defined contribution plan, the Sonoco Investment and Retirement Plan (SIRP), which covers its non-union U.S. employees hired on or after January 1, 2004. The Company also sponsors contributory defined benefit pension plans covering the majority of its employees in the United Kingdom, Canada and the Netherlands. | ||||||||||||||||
On February 4, 2009, the U.S. qualified defined benefit pension plan was amended to freeze plan benefits for all active participants effective December 31, 2018. Remaining active participants in the U.S. qualified plan will become participants of the SIRP effective January 1, 2019. Active participants of the U.S. qualified plan had a one-time option to transfer into the SIRP effective January 1, 2010. Approximately one third of the active participants chose that option. | ||||||||||||||||
The Company also provides postretirement healthcare and life insurance benefits to a limited number of its retirees and their dependents in the United States and Canada, based on certain age and/or service eligibility requirements. | ||||||||||||||||
The components of net periodic benefit cost include the following: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Retirement Plans | ||||||||||||||||
Service cost | $ | 25,198 | $ | 23,551 | $ | 20,796 | ||||||||||
Interest cost | 67,235 | 69,928 | 70,869 | |||||||||||||
Expected return on plan assets | (86,545 | ) | (83,758 | ) | (84,015 | ) | ||||||||||
Amortization of net transition obligation | 438 | 483 | 464 | |||||||||||||
Amortization of prior service cost | 569 | 409 | 335 | |||||||||||||
Amortization of net actuarial loss | 43,776 | 37,904 | 24,911 | |||||||||||||
Effect of settlement loss | 1,947 | 70 | — | |||||||||||||
Other | — | — | 92 | |||||||||||||
Net periodic benefit cost | $ | 52,618 | $ | 48,587 | $ | 33,452 | ||||||||||
Retiree Health and Life Insurance Plans | ||||||||||||||||
Service cost | $ | 891 | $ | 820 | $ | 1,016 | ||||||||||
Interest cost | 942 | 1,120 | 1,583 | |||||||||||||
Expected return on plan assets | (1,510 | ) | (1,526 | ) | (1,446 | ) | ||||||||||
Amortization of prior service credit | (2,969 | ) | (6,491 | ) | (7,882 | ) | ||||||||||
Amortization of net actuarial loss | — | (2 | ) | 927 | ||||||||||||
Net periodic benefit income | $ | (2,646 | ) | $ | (6,079 | ) | $ | (5,802 | ) | |||||||
The following tables set forth the Plans’ obligations and assets at December 31: | ||||||||||||||||
Retirement Plans | Retiree Health | |||||||||||||||
and | ||||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Change in Benefit Obligation | ||||||||||||||||
Benefit obligation at January 1 | $ | 1,734,556 | $ | 1,544,730 | $ | 32,581 | $ | 38,097 | ||||||||
Service cost | 25,198 | 23,551 | 891 | 820 | ||||||||||||
Interest cost | 67,235 | 69,928 | 942 | 1,120 | ||||||||||||
Plan participant contributions | 528 | 609 | 1,040 | 1,229 | ||||||||||||
Plan amendments | 1,927 | 648 | — | — | ||||||||||||
Actuarial loss/(gain) | (137,365 | ) | 163,194 | (4,349 | ) | (4,540 | ) | |||||||||
Benefits paid | (90,403 | ) | (84,150 | ) | (3,542 | ) | (4,158 | ) | ||||||||
Impact of foreign exchange rates | (836 | ) | 11,854 | (42 | ) | 13 | ||||||||||
Effect of settlements | (4,382 | ) | — | — | — | |||||||||||
Other | — | 4,192 | — | — | ||||||||||||
Benefit obligation at December 31 | $ | 1,596,458 | $ | 1,734,556 | $ | 27,521 | $ | 32,581 | ||||||||
Retirement Plans | Retiree Health and | |||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Change in Plan Assets | ||||||||||||||||
Fair value of plan assets at January 1 | $ | 1,267,386 | $ | 1,129,042 | $ | 21,183 | $ | 20,716 | ||||||||
Actual return on plan assets | 134,229 | 152,907 | 2,795 | 2,704 | ||||||||||||
Company contributions | 31,591 | 65,362 | 1,126 | 777 | ||||||||||||
Plan participant contributions | 528 | 609 | 1,040 | 1,229 | ||||||||||||
Benefits paid | (90,403 | ) | (84,150 | ) | (3,542 | ) | (4,158 | ) | ||||||||
Impact of foreign exchange rates | (952 | ) | 9,453 | — | — | |||||||||||
Effect of settlements | (4,382 | ) | — | — | — | |||||||||||
Expenses paid | (6,063 | ) | (5,837 | ) | (105 | ) | (85 | ) | ||||||||
Fair value of plan assets at December 31 | $ | 1,331,934 | $ | 1,267,386 | $ | 22,497 | $ | 21,183 | ||||||||
Funded Status of the Plans | $ | (264,524 | ) | $ | (467,170 | ) | $ | (5,024 | ) | $ | (11,398 | ) | ||||
Retirement Plans | Retiree Health and | |||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Total Recognized Amounts in the Consolidated Balance Sheets | ||||||||||||||||
Noncurrent assets | $ | 7,374 | $ | — | $ | — | $ | — | ||||||||
Current liabilities | (13,034 | ) | (16,068 | ) | (801 | ) | (1,250 | ) | ||||||||
Noncurrent liabilities | (258,864 | ) | (451,102 | ) | (4,223 | ) | (10,148 | ) | ||||||||
Net liability | $ | (264,524 | ) | $ | (467,170 | ) | $ | (5,024 | ) | $ | (11,398 | ) | ||||
Items not yet recognized as a component of net periodic pension cost that are included in Accumulated Other Comprehensive Loss (Income) as of December 31, 2013 and 2012, are as follows: | ||||||||||||||||
Retirement Plans | Retiree Health and | |||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net actuarial loss | $ | 518,275 | $ | 742,579 | $ | (3,178 | ) | $ | 2,349 | |||||||
Prior service cost/(credit) | 3,991 | 2,658 | (1,438 | ) | (4,407 | ) | ||||||||||
Net transition obligation | 470 | 975 | — | — | ||||||||||||
$ | 522,736 | $ | 746,212 | $ | (4,616 | ) | $ | (2,058 | ) | |||||||
The amounts recognized in Other Comprehensive Loss/(Income) during December 31, 2013 and 2012 include the following: | ||||||||||||||||
Retirement Plans | Retiree Health and | |||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Adjustments arising during the period: | ||||||||||||||||
Net actuarial loss/(gain) | $ | (178,648 | ) | $ | 100,349 | $ | (5,527 | ) | $ | (5,633 | ) | |||||
Prior service cost/(credit) | 1,902 | 649 | — | — | ||||||||||||
Net settlements/curtailments | (1,947 | ) | — | — | — | |||||||||||
Reversal of amortization: | ||||||||||||||||
Net actuarial loss | (43,776 | ) | (37,904 | ) | — | 2 | ||||||||||
Prior service cost/(credit) | (569 | ) | (409 | ) | 2,969 | 6,491 | ||||||||||
Net transition obligation | (438 | ) | (483 | ) | — | — | ||||||||||
Total recognized in other comprehensive loss/(income) | $ | (223,476 | ) | $ | 62,202 | $ | (2,558 | ) | $ | 860 | ||||||
Total recognized in net periodic benefit cost and other comprehensive loss/(income) | $ | (170,858 | ) | $ | 110,789 | $ | (5,204 | ) | $ | (5,219 | ) | |||||
Of the amounts included in Accumulated Other Comprehensive Loss/(Income) as of December 31, 2013, the portions the Company expects to recognize as components of net periodic benefit cost in 2013 are as follows: | ||||||||||||||||
Retirement | Retiree Health and | |||||||||||||||
Plans | Life Insurance Plans | |||||||||||||||
Net actuarial loss | $ | 25,726 | $ | (100 | ) | |||||||||||
Prior service cost/(credit) | 673 | (1,384 | ) | |||||||||||||
Net transition obligation | 424 | — | ||||||||||||||
$ | 26,823 | $ | (1,484 | ) | ||||||||||||
The accumulated benefit obligation for all defined benefit plans was $1,539,382 and $1,665,597 at December 31, 2013 and 2012, respectively. | ||||||||||||||||
The projected benefit obligation (PBO), accumulated benefit obligation (ABO) and fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets were, $1,510,804, $1,461,700 and $1,238,906, respectively, as of December 31, 2013, and $1,734,556, $1,665,597 and $1,267,385, respectively, as of December 31, 2012. | ||||||||||||||||
The following table sets forth the Company’s projected benefit payments for the next ten years: | ||||||||||||||||
Year | Retirement Plans | Retiree Health and | ||||||||||||||
Life Insurance Plans | ||||||||||||||||
2014 | $ | 85,789 | $ | 2,845 | ||||||||||||
2015 | $ | 86,449 | $ | 3,014 | ||||||||||||
2016 | $ | 84,736 | $ | 2,987 | ||||||||||||
2017 | $ | 87,218 | $ | 2,885 | ||||||||||||
2018 | $ | 89,752 | $ | 2,759 | ||||||||||||
2019-2023 | $ | 484,517 | $ | 10,858 | ||||||||||||
Assumptions | ||||||||||||||||
The following tables set forth the major actuarial assumptions used in determining the PBO, ABO and net periodic cost: | ||||||||||||||||
Weighted-average assumptions | U.S. | U.S. Retiree | Foreign Plans | |||||||||||||
used to determine benefit | Retirement | Health and | ||||||||||||||
obligations at December 31 | Plans | Life Insurance | ||||||||||||||
Plans | ||||||||||||||||
Discount Rate | ||||||||||||||||
2013 | 4.78 | % | 4.03 | % | 3.25-4.97% | |||||||||||
2012 | 3.9 | % | 3.16 | % | 3.50-4.40% | |||||||||||
Rate of Compensation Increase | ||||||||||||||||
2013 | 3.99 | % | 3.44 | % | 2.50-4.00% | |||||||||||
2012 | 4.29 | % | 3.51 | % | 2.50-3.50% | |||||||||||
Weighted-average assumptions | U.S. | U.S. Retiree | Foreign | |||||||||||||
used to determine net periodic benefit | Retirement | Health and | Plans | |||||||||||||
cost for years ended December 31 | Plans | Life Insurance | ||||||||||||||
Plans | ||||||||||||||||
Discount Rate | ||||||||||||||||
2013 | 3.9 | % | 3.16 | % | 3.50-4.40% | |||||||||||
2012 | 4.45 | % | 3.76 | % | 4.36-5.31% | |||||||||||
2011 | 5.21 | % | 4.37 | % | 4.40-6.00% | |||||||||||
Expected Long-term Rate of Return | ||||||||||||||||
2013 | 7.65 | % | 7.42 | % | 3.50-5.75% | |||||||||||
2012 | 7.79 | % | 7.52 | % | 3.75-6.25% | |||||||||||
2011 | 7.79 | % | 8 | % | 3.75-7.40% | |||||||||||
Rate of Compensation Increase | ||||||||||||||||
2013 | 4.29 | % | 3.51 | % | 2.50-3.50% | |||||||||||
2012 | 4.63 | % | 4.15 | % | 2.50-3.50% | |||||||||||
2011 | 4.49 | % | 4.29 | % | 2.50-4.50% | |||||||||||
The Company adjusts its discount rates at the end of each fiscal year based on yield curves of high-quality debt instruments over durations that match the expected benefit payouts of each plan. The expected long-term rate of return assumption is based on the Company’s current and expected future portfolio mix by asset class, and expected nominal returns of these asset classes using an economic “building block” approach. Expectations for inflation and real interest rates are developed and various risk premiums are assigned to each asset class based primarily on historical performance. The expected long-term rate of return also gives consideration to the expected level of outperformance to be achieved on that portion of the Company’s investment portfolio under active management. The assumed rate of compensation increase reflects historical experience and management’s expectations regarding future salary and incentive increases. | ||||||||||||||||
Medical trends | ||||||||||||||||
The U.S. Retiree Health and Life Insurance Plan makes up approximately 98% of the Retiree Health liability. Therefore, the following information relates to the U.S. plan only. | ||||||||||||||||
Healthcare Cost Trend Rate | Pre-age 65 | Post-age 65 | ||||||||||||||
2013 | 8 | % | 8 | % | ||||||||||||
2012 | 8 | % | 8.3 | % | ||||||||||||
Ultimate Trend Rate | Pre-age 65 | Post-age 65 | ||||||||||||||
2013 | 5.6 | % | 5.6 | % | ||||||||||||
2012 | 6.15 | % | 6.16 | % | ||||||||||||
Year at which the Rate Reaches | Pre-age 65 | Post-age 65 | ||||||||||||||
the Ultimate Trend Rate | ||||||||||||||||
2013 | 2045 | 2045 | ||||||||||||||
2012 | 2045 | 2045 | ||||||||||||||
Increasing the assumed trend rate for healthcare costs by one percentage point would increase the accumulated postretirement benefit obligation (the APBO) and total service and interest cost component approximately $425 and $56, respectively. Decreasing the assumed trend rate for healthcare costs by one percentage point would decrease the APBO and total service and interest cost component approximately $390 and $50, respectively. Based on amendments to the U.S. plan approved in 1999, which became effective in 2003, cost increases borne by the Company are limited to the Urban CPI, as defined. | ||||||||||||||||
Plan changes and amendments | ||||||||||||||||
During 2010, certain retiree medical benefits and life insurance coverage under the Company’s U.S. Retiree Medical and Life Insurance Plan were changed, reducing the accumulated postretirement benefit obligation by $4,566. The resulting prior service credit is being amortized over a period of approximately four years. | ||||||||||||||||
During 2009, the Company’s U.S. qualified defined benefit pension plan was amended to allow a lump sum payment option upon termination to plan participants who chose to freeze their benefit December 31, 2009, and move to the SIRP. The effect of this and other smaller amendments was a reduction in the projected benefit obligation of $4,300. | ||||||||||||||||
Also during 2009, the Company amended its U.S. Retiree Medical and Life Insurance Plan to freeze the Company subsidy for both pre- and post-Medicare retiree medical coverage at 2009 levels effective January 1, 2010, and to eliminate any early retirement reduction factor applied to the Company subsidy for pre-Medicare coverage for current retirees as of December 31, 2009. In addition, the Company will no longer provide post-Medicare retiree medical coverage to its active employees or post-1981 retirees, except for certain union groups. The impact of these changes was an overall reduction in the accumulated postretirement benefit obligation of $17,625, which was amortized over a period of 3.3 years. The benefit from the amortization of these prior service credits ended during 2013. | ||||||||||||||||
Retirement plan assets | ||||||||||||||||
The following table sets forth the weighted-average asset allocations of the Company’s retirement plans at December 31, 2013 and 2012, by asset category. | ||||||||||||||||
Asset Category | U.S. | U.K. | Canada | |||||||||||||
Equity securities | 2013 | 53.2 | % | 53.9 | % | 64 | % | |||||||||
2012 | 52.1 | % | 67.3 | % | 66 | % | ||||||||||
Debt securities | 2013 | 34.5 | % | 44.8 | % | 35.4 | % | |||||||||
2012 | 36 | % | 31.9 | % | 32.7 | % | ||||||||||
Alternative | 2013 | 12 | % | — | % | — | % | |||||||||
2012 | 11.8 | % | — | % | — | % | ||||||||||
Cash and short-term investments | 2013 | 0.3 | % | 1.3 | % | 0.6 | % | |||||||||
2012 | 0.1 | % | 0.8 | % | 1.3 | % | ||||||||||
Total | 2013 | 100 | % | 100 | % | 100 | % | |||||||||
2012 | 100 | % | 100 | % | 100 | % | ||||||||||
The Company employs a total-return investment approach whereby a mix of equities and fixed income investments are used to maximize the long-term return of plan assets for a desired level of risk. Alternative assets such as real estate funds, private equity funds and hedge funds are used to enhance expected long-term returns while improving portfolio diversification. Risk tolerance is established through consideration of plan liabilities, plan funded status and corporate financial condition. Investment risk is measured and monitored on an ongoing basis through periodic investment portfolio reviews and periodic asset/liability studies. | ||||||||||||||||
At December 31, 2013, postretirement benefit plan assets totaled $1,331,934, of which $1,010,798 were assets of the U.S. Defined Benefit Plan. | ||||||||||||||||
U.S. defined benefit plans | ||||||||||||||||
The equity investments consist of direct ownership and funds and are diversified among U.S. and non-U.S. stocks of small to large capitalizations. Following the December 2010 amendment that split the U.S. qualified defined benefit pension plan into the Active Plan and the Inactive Plan effective January 1, 2011, the Company completed separate asset/liability studies for both plans during 2011 and adopted revised investment guidelines for each. The revised guidelines establish a dynamic de-risking framework that will gradually shift the allocation of assets to long-duration domestic fixed income from equity and other asset categories, as the relative funding ratio of each plan increases over time. The current target allocation (midpoint) for the Inactive Plan investment portfolio is: Equity Securities – 49%, Debt Securities – 40%, Alternative – 11% and Cash – 0%. The current target allocation (midpoint) for the Active Plan investment portfolio is: Equity Securities – 57%, Debt Securities – 30%, Alternative – 13% and Cash – 0%. | ||||||||||||||||
United Kingdom defined benefit plan | ||||||||||||||||
The equity investments consist of direct ownership and funds and are diversified among U.K. and international stocks of small and large capitalizations. The current target allocation (midpoint) for the investment portfolio is: Equity Securities – 54%, Debt Securities – 45%, Alternative – 0% and Cash – 1%. | ||||||||||||||||
Canada defined benefit plan | ||||||||||||||||
The equity investments consist of direct ownership and funds and are diversified among Canadian and international stocks of primarily large capitalizations and short to intermediate duration corporate and government bonds. The current target allocation (midpoint) for the investment portfolio is: Equity Securities – 60%, Debt Securities – 40%, Alternative –0% and Cash – 0%. | ||||||||||||||||
Retiree health and life insurance plan assets | ||||||||||||||||
The following table sets forth the weighted-average asset allocations by asset category of the Company’s retiree health and life insurance plan. | ||||||||||||||||
Asset Category | 31-Dec-13 | 31-Dec-12 | ||||||||||||||
Equity securities | 59.10% | 54.60% | ||||||||||||||
Debt securities | 34.00% | 37.90% | ||||||||||||||
Alternative | 6.60% | 7.10% | ||||||||||||||
Cash | 0.30% | 0.40% | ||||||||||||||
Total | 100.00% | 100.00% | ||||||||||||||
Contributions | ||||||||||||||||
Based on current actuarial estimates, the Company anticipates that the total contributions to its retirement plans and retiree health and life insurance plans will be approximately $67,000 in 2014. No assurances can be made, however, about funding requirements beyond 2014, as they will depend largely on actual investment returns and future actuarial assumptions. | ||||||||||||||||
Sonoco Savings Plan | ||||||||||||||||
The Sonoco Savings Plan is a defined contribution retirement plan provided for the Company’s U.S. employees. The plan provides for participant contributions of 1% to 30% of gross pay. Since January 1, 2010, the Company has matched 50% on the first 4% of compensation contributed by the participant as pretax contributions. The Company’s expenses related to the plan for 2013, 2012 and 2011 were approximately $10,700, $8,920 and $8,670, respectively. | ||||||||||||||||
Sonoco Investment and Retirement Plan | ||||||||||||||||
The Sonoco Investment and Retirement Plan (SIRP) is a defined contribution pension plan provided for the Company’s salaried and non-union U.S. employees who were hired on or after January 1, 2004, or those former participants in the Company’s U.S. qualified defined benefit pension plan who elected to transfer into the SIRP under a one-time option effective January 1, 2010. The Company makes an annual contribution of 4% of all eligible pay plus 4% of eligible pay in excess of the Social Security wage base to eligible participant accounts. Participants are fully vested after five years of service or upon reaching age 55, if earlier. The Company’s expenses related to the plan for 2013, 2012 and 2011 were approximately $11,974, $10,350 and $9,200, respectively. Cash contributions to the SIRP totaled $9,290, $8,920 and $8,568 in 2013, 2012 and 2011, respectively. | ||||||||||||||||
Other plans | ||||||||||||||||
The Company also provides retirement and postretirement benefits to certain other non-U.S. employees through various Company-sponsored and local government sponsored defined contribution arrangements. For the most part, the liabilities related to these arrangements are funded in the period they arise. The Company’s expenses for these plans were not material for all years presented. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||
Income taxes | |||||||||||||||||||||
The provision for taxes on income for the years ended December 31 consists of the following: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Pretax income | |||||||||||||||||||||
Domestic | $ | 217,305 | $ | 202,594 | $ | 208,588 | |||||||||||||||
Foreign | 87,264 | 84,480 | 75,818 | ||||||||||||||||||
Total pretax income | $ | 304,569 | $ | 287,074 | — | $ | 284,406 | ||||||||||||||
Current | |||||||||||||||||||||
Federal | $ | 32,691 | $ | 57,424 | $ | 27,920 | |||||||||||||||
State | 2,207 | 5,891 | 5,910 | ||||||||||||||||||
Foreign | 25,089 | 22,123 | 34,794 | ||||||||||||||||||
Total current | $ | 59,987 | $ | 85,438 | $ | 68,624 | |||||||||||||||
Deferred | |||||||||||||||||||||
Federal | $ | 33,937 | $ | 13,552 | $ | 34,992 | |||||||||||||||
State | 4,080 | 6,303 | 6,249 | ||||||||||||||||||
Foreign | (1,801 | ) | (1,534 | ) | (31,442 | ) | |||||||||||||||
Total deferred | $ | 36,216 | $ | 18,321 | $ | 9,799 | |||||||||||||||
Total taxes | $ | 96,203 | $ | 103,759 | $ | 78,423 | |||||||||||||||
Deferred tax liabilities/(assets) are comprised of the following at December 31: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Depreciation | $ | 117,752 | $ | 109,973 | |||||||||||||||||
Intangibles | 161,707 | 156,859 | |||||||||||||||||||
Gross deferred tax liabilities | $ | 279,459 | $ | 266,832 | |||||||||||||||||
Retiree health benefits | $ | (7,468 | ) | $ | (6,661 | ) | |||||||||||||||
Foreign loss carryforwards | (83,033 | ) | (89,115 | ) | |||||||||||||||||
U.S. Federal loss carryforwards | (19,553 | ) | (26,967 | ) | |||||||||||||||||
Capital loss carryforwards | (3,053 | ) | (3,769 | ) | |||||||||||||||||
Employee benefits | (120,551 | ) | (215,907 | ) | |||||||||||||||||
Accrued liabilities and other | (79,574 | ) | (83,336 | ) | |||||||||||||||||
Gross deferred tax assets | $ | (313,232 | ) | $ | (425,755 | ) | |||||||||||||||
Valuation allowance on deferred tax assets | $ | 60,856 | $ | 61,563 | |||||||||||||||||
Total deferred taxes, net | $ | 27,083 | $ | (97,360 | ) | ||||||||||||||||
Federal operating loss carryforwards of approximately $55,800 remain from the Tegrant acquisition. The use of these losses is limited by U.S. tax law, but it is expected that these losses will be fully utilized prior to their expiration. These carryforwards expire at various times between 2023 and 2031, depending on the year incurred. The Company does not have any other U.S. federal operating loss carryforwards. Foreign subsidiary loss carryforwards of approximately $335,000 remain at December 31, 2013. Their use is limited to future taxable earnings of the respective foreign subsidiaries. Approximately $246,000 of these loss carryforwards do not have an expiration date. Of the remaining foreign subsidiary loss carryforwards, approximately $32,000 expire within the next five years and approximately $57,000 expire between 2019 and 2033. Approximately $13,900 of state loss carryforwards and $15,300 of state credit carryforwards remain at December 31, 2013. These state loss and credit carryforwards are limited to future taxable earnings of the respective legal entity and expire between 2014 and 2028. | |||||||||||||||||||||
A reconciliation of the U.S. federal statutory tax rate to the actual consolidated tax expense is as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Statutory tax rate | $ | 106,599 | 35 | % | $ | 100,476 | 35 | % | $ | 99,542 | 35 | % | |||||||||
State income taxes, net of federal tax benefit | 6,146 | 2 | 4,444 | 1.5 | % | 6,370 | 2.2 | % | |||||||||||||
Valuation allowance | (747 | ) | (0.2 | ) | 5,201 | 1.8 | % | (20,533 | ) | (7.2 | )% | ||||||||||
Tax examinations including change in reserve for uncertain tax positions | (1,421 | ) | (0.5 | ) | 424 | 0.1 | % | 6,313 | 2.2 | % | |||||||||||
Change in estimates related to prior years | (672 | ) | (0.2 | ) | (2,111 | ) | (0.7 | )% | (1,006 | ) | (0.4 | )% | |||||||||
Foreign earnings taxed at other than U.S. rates | (6,639 | ) | (2.1 | ) | (8,224 | ) | (2.9 | )% | (9,730 | ) | (3.4 | )% | |||||||||
U.S. taxes on dividends from foreign subsidiaries | — | — | 11,744 | 4.1 | % | — | — | % | |||||||||||||
Effect of tax rate changes enacted during the year | (915 | ) | (0.3 | ) | (1,399 | ) | (0.5 | )% | (952 | ) | (0.3 | )% | |||||||||
Deduction related to qualified production activities | (3,819 | ) | (1.3 | ) | (4,325 | ) | (1.5 | )% | (2,860 | ) | (1.0 | )% | |||||||||
Other, net | (2,329 | ) | (0.8 | ) | (2,471 | ) | (0.8 | )% | 1,279 | 0.4 | % | ||||||||||
Total taxes | $ | 96,203 | 31.6 | % | $ | 103,759 | 36.1 | % | $ | 78,423 | 27.5 | % | |||||||||
The change in “Tax examinations including change in reserve for uncertain tax positions” is shown net of associated deferred taxes and accrued interest. Included in the change are net increases of approximately $4,500, $4,300 and $9,800 for uncertain items arising in 2013, 2012 and 2011, respectively. Also included are adjustments related to prior year items, primarily decreases related to lapses of statutes of limitations in international, federal and state jurisdictions as well as overall changes in facts and judgment. These adjustments decreased the reserve by a total of approximately $(5,400), $(3,800) and $(3,500) in 2013, 2012 and 2011, respectively. | |||||||||||||||||||||
In many of the countries in which the Company operates, earnings are taxed at rates lower than in the U.S. This benefit is reflected in “Foreign earnings taxed at other than U.S. rates” along with other items, if any, that impacted taxes on foreign earnings in the periods presented. | |||||||||||||||||||||
The benefits included in “Change in estimates related to prior years” for each of the years presented consist primarily of adjustments to deferred tax assets and liabilities arising from the availability of more accurate estimates. | |||||||||||||||||||||
Included in “Valuation Allowance” in 2011 is a benefit of $24,282 from the release of a valuation allowance against net operating losses in France. Improved operating results and anticipated benefits from planned restructuring actions provided the Company with sufficient evidence to conclude that it was more likely than not that the assets could be recovered. | |||||||||||||||||||||
During 2012, the Company initiated a repatriation of approximately $260,000 of cash from certain foreign subsidiaries and accrued the U.S. tax liability associated with these payments, most of which were a return of capital, at that time. The repatriation was completed in 2013. | |||||||||||||||||||||
Undistributed earnings of international subsidiaries totaled $574,500 at December 31, 2013. Deferred taxes have not been provided on the undistributed earnings, as the Company considers these amounts to be indefinitely reinvested to finance the growth and expansion of its international operations. Computation of the potential deferred tax liability associated with those unremitted earnings deemed to be indefinitely reinvested is not practicable. If such amounts were remitted, loaned to the Company, or the stock in the foreign subsidiaries sold, these earnings could become subject to tax. | |||||||||||||||||||||
Reserve for uncertain tax positions | |||||||||||||||||||||
The following table sets forth the reconciliation of the gross amounts of unrecognized tax benefits at the beginning and ending of the periods indicated: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Gross Unrecognized Tax Benefits at January 1 | $ | 31,300 | $ | 32,800 | $ | 28,100 | |||||||||||||||
Increases in prior years’ unrecognized tax benefits | 1,100 | 4,300 | 600 | ||||||||||||||||||
Decreases in prior years’ unrecognized tax benefits | (1,800 | ) | (4,200 | ) | (1,600 | ) | |||||||||||||||
Increases in current year's unrecognized tax benefits | 4,100 | 4,300 | 11,200 | ||||||||||||||||||
Decreases in unrecognized tax benefits from the lapse of statutes of limitations | (5,300 | ) | (4,700 | ) | (4,500 | ) | |||||||||||||||
Settlements | (600 | ) | (1,200 | ) | (1,000 | ) | |||||||||||||||
Gross Unrecognized Tax Benefits at December 31 | $ | 28,800 | $ | 31,300 | $ | 32,800 | |||||||||||||||
Of the unrecognized tax benefit balances at December 31, 2013 and December 31, 2012, approximately $22,200 and $23,900, respectively, would have an impact on the effective tax rate if ultimately recognized. | |||||||||||||||||||||
Interest and/or penalties related to income taxes are reported as part of income tax expense. The Company had approximately $4,100 and $4,400 accrued for interest related to uncertain tax positions at December 31, 2013 and December 31, 2012, respectively. Tax expense for the year ended December 31, 2013, includes approximately $300 of interest benefit, which is comprised of an interest benefit of approximately $2,500 related to the expiration of statutes of limitations and other releases and interest expense of $2,200 on unrecognized tax benefits. The amounts listed above for accrued interest and interest expense do not reflect the benefit of a federal tax deduction which would be available if the interest were ultimately paid. | |||||||||||||||||||||
The Company and/or its subsidiaries file federal, state and local income tax returns in the United States and various foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, or non-U.S., income tax examinations by tax authorities for years before 2009. With respect to state and local income taxes, the Company is no longer subject to examination prior to 2008, with few exceptions. | |||||||||||||||||||||
The estimate for the potential outcome of any uncertain tax issue is highly judgmental. The Company believes it has adequately provided for any reasonable foreseeable outcome related to these matters. However, future results may include favorable or unfavorable adjustments to estimated tax liabilities in the period the assessments are made or resolved or when statutes of limitation on potential assessments expire. Additionally, the jurisdictions in which earnings or deductions are realized may differ from current estimates. As a result, the effective tax rate may fluctuate significantly on a quarterly basis. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and contingencies | |
Pursuant to U.S. GAAP, accruals for estimated losses are recorded at the time information becomes available indicating that losses are probable and that the amounts are reasonably estimable. As is the case with other companies in similar industries, the Company faces exposure from actual or potential claims and legal proceedings from a variety of sources. Some of these exposures, as discussed below, have the potential to be material. | |
Environmental matters | |
The Company is subject to a variety of environmental and pollution control laws and regulations in all jurisdictions in which it operates. | |
During the fourth quarter of 2005, the U.S. Environmental Protection Agency (EPA) notified U.S. Paper Mills Corp. (U.S. Mills), a wholly owned subsidiary of the Company, that U.S. Mills and NCR Corporation (NCR), an unrelated party, would be jointly held responsible to undertake a program to remove and dispose of certain PCB-contaminated sediments at a particular site on the lower Fox River in Wisconsin (the “Site”) which is now labeled by the EPA as Phase 1. U.S. Mills and NCR reached an agreement between themselves that each would fund 50% of the costs of remediation of the Site. The Company has expensed a total of $17,650 ($12,500 in 2005 and $5,150 in 2007) for its estimated share of the total cleanup cost of the Site, and through December 31, 2013, has spent a total of $14,467. The remaining accrual of $3,183,000 represents the Company’s best estimate of what it is likely to pay to complete the Site project. However, the actual costs associated with cleanup of the Site are dependent upon many factors and it is possible that remediation costs could be higher than the current estimate of project costs. The Company acquired U.S. Mills in 2001, and the alleged contamination predates the acquisition. | |
In February 2007, the EPA and Wisconsin Department of Natural Resources (WDNR) issued a general notice of potential liability under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) and a request to participate in remedial action implementation negotiations relating to a stretch of the lower Fox River, including the bay at Green Bay (Operating Units 2 – 5), to eight potentially responsible parties, including U.S. Mills. Operating Units 2 – 5 include, but also comprise, a vastly larger area than the Site. | |
On November 13, 2007, the EPA issued a unilateral Administrative Order for Remedial Action pursuant to Section 106 of CERCLA. The order requires U.S. Mills and the seven other respondents jointly to take various actions to clean up Operating Units 2 – 5. The order establishes two phases of work. The first phase consists of planning and design work as well as preparation for dredging and other remediation work and initially was required to be completed by December 31, 2008. The second phase consists primarily of dredging and disposing of contaminated sediments and capping of the dredged and less contaminated areas of the river bottom. The second phase was required to begin in 2009 and is expected to continue for several years. The order also provides for a $32.5 per day penalty for failure by a respondent to comply with its terms as well as exposing a non-complying respondent to potential treble damages. Although U.S. Mills has reserved its rights to contest liability for any portion of the work, it is cooperating with the other respondents to comply with the first phase of the order. However, its financial contribution will likely be determined by the lawsuit commenced in June 2008. | |
On June 12, 2008, NCR and Appleton Papers, Inc. (API), as plaintiffs, commenced suit in the United States District Court for the Eastern District of Wisconsin (No. 8-CV-16-WCG) against U.S. Mills, as one of a number of defendants, seeking a declaratory judgment allocating among all the parties the costs and damages associated with the pollution and cleanup of the Lower Fox River. The suit also seeks damages from the defendants for amounts already spent by the plaintiffs, including natural resource damages, and future amounts to be spent by all parties with regard to the pollution and cleanup of the Lower Fox River. On December 16, 2009, the court issued an order which concluded that, under the equities of the case, NCR and API were not entitled to any contribution from U.S. Mills and other defendants, thereby granting the defendants’ motions for summary judgment and denying the plaintiffs’ motions for summary judgment. Subsequent to the December 2009 ruling, U.S. Mills and other defendants made motions to have the court rule that, on the same basis as the December 2009 ruling, NCR would be responsible for any costs that U.S. Mills and the other defendants might incur, past, present and future. These motions have been granted by the court. The orders in this case have been appealed to the United States Court of Appeals for the Seventh Circuit (7th Circuit). The Company believes that this suit will have a minimal, if any, impact on the total amount of the potential remediation costs associated with Operating Units 2 – 5, but it may have a substantial impact on U.S. Mills’ share of those costs. U.S. Mills plans to defend the suit vigorously. | |
On October 14, 2010, the EPA and WDNR filed suit against NCR, API, U.S. Mills and nine other defendants in the United States District Court for the Eastern District of Wisconsin (No. 10-CV-910-WCG) pursuant to Sections 106 and 107 of CERCLA. The plaintiffs seek to recover unreimbursed costs incurred for activities undertaken in response to the release and threatened release of hazardous substances from facilities at or near the Lower Fox River and Green Bay as well as damages for injury to, loss of, and destruction of natural resources resulting from such releases. The plaintiffs also seek a ruling that the defendants are liable for future response costs of the plaintiffs and requiring the defendants to comply with the unilateral Administrative Order for Remedial Action discussed above and in prior filings. The Company does not believe that the remedies sought in the suit materially expand the Company’s potential liability beyond what has been disclosed in this report or in the Company’s prior filings with the SEC. U.S. Mills has entered into a stipulation with the plaintiffs that, in exchange for U.S. Mills’ admitting that it is liable for discharging wastewater containing PCBs into the river, the plaintiffs would not seek an injunction in this proceeding against U.S. Mills requiring it to participate in the completion of the Fox River remediation. In June 2013 the court ordered some of the other defendants, including NCR but not U.S. Mills, to complete the remediation and the order has been appealed to the 7th Circuit. U.S. Mills plans to continue to defend its interests in the suit vigorously. | |
Since 2007, the Company has expensed a total of $60,825 for potential liabilities associated with the Fox River contamination (not including amounts expensed for remediation at the Site) and through December 31, 2013, has spent a total of $11,884, primarily on legal fees, leaving a reserve of $48,941 remaining at December 31, 2013 for potential liabilities associated with the Fox River contamination (not including amounts accrued for remediation at the Site). Because of the continuing uncertainties in the estimated costs of remediation and continuing uncertainties surrounding U.S. Mills’ allocable share, including a potentially favorable resolution, it is impossible to state with any reasonable degree of confidence that any estimate is a better estimate than the amount recorded. However, because the discharges of hazardous materials into the environment occurred before the Company acquired U.S. Mills, and U.S. Mills has been operated as a separate subsidiary of the Company, the Company does not believe that it bears financial responsibility for these legacy environmental liabilities of U.S. Mills. Therefore, the Company continues to believe that the maximum additional exposure to its consolidated financial position beyond what has been reserved is limited to the equity position of U.S. Mills, which was approximately $94,000 at December 31, 2013. | |
On November 8, 2011, the Company completed the acquisition of Tegrant. During its due diligence, the Company identified several potentially environmentally contaminated sites. The total remediation cost of these sites was estimated to be $18,850 at the time of the acquisition and an accrual in this amount was recorded on Tegrant’s opening balance sheet. | |
The Company has been named as a potentially responsible party at several other environmentally contaminated sites. All of the sites are also the responsibility of other parties. The potential remediation liabilities are shared with such other parties, and, in most cases, the Company’s share, if any, cannot be reasonably estimated at the current time. | |
As of December 31, 2013 and 2012, the Company (and its subsidiaries) had accrued $73,032 and $75,605, respectively, related to environmental contingencies. Of these, a total of $52,124 and $53,972 relate to U.S. Mills and $18,429 and $18,733 relate to Tegrant at December 31, 2013 and 2012, respectively. These accruals are included in “Accrued expenses and other” on the Company’s Consolidated Balance Sheets. U.S. Mills recognized a $40,825 benefit in 2008 from settlements reached and proceeds received on certain insurance policies covering the Fox River contamination. U.S. Mills’ two remaining insurance carriers are in liquidation. It is possible that U.S. Mills may recover from these carriers a small portion of the costs it ultimately incurs. U.S. Mills may also be able to reallocate some of the costs it incurs among other parties. There can be no assurance that such claims for recovery or reallocation would be successful and no amounts have been recognized in the consolidated financial statements of the Company for such potential recovery or reallocation. | |
Other legal matters | |
In addition to those described above, the Company is subject to other various legal proceedings, claims and litigation arising in the normal course of business. While the outcome of these matters could differ from management’s expectations, the Company does not believe that the resolution of these matters has a reasonable possibility of having a material adverse effect on the Company’s financial statements. | |
Commitments | |
As of December 31, 2013, the Company had long-term obligations to purchase electricity and steam, which it uses in its production processes, as well as long-term purchase commitments for certain raw materials, principally old corrugated containers. These purchase commitments require the Company to make total payments of approximately $328,600, as follows: $70,000 in 2014; $64,500 in 2015; $67,300 in 2016, $50,400 in 2017 and a total of $76,400 from 2018 through 2023. |
Shareholders_Equity_and_Earnin
Shareholders' Equity and Earnings per Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Text Block [Abstract] | ' | |||||||||||
Shareholders' Equity and Earnings per Share | ' | |||||||||||
Shareholders’ equity and earnings per share | ||||||||||||
Stock repurchases | ||||||||||||
The Company occasionally repurchases shares of its common stock to satisfy employee tax withholding obligations in association with the exercise of stock appreciation rights and performance-based stock awards. These repurchases, which are not part of a publicly announced plan or program, totaled 575,845 shares during 2013, 126,765 shares during 2012, and 94,295 shares during 2011, at a cost of $22,187 and $4,167 and $3,145, respectively. | ||||||||||||
The Company’s Board of Directors has authorized the repurchase of up to 5,000,000 shares of the Company’s common stock, all of which were available to be repurchased as of December 31, 2012. During 2013, a total of 132,500 shares were purchased at a cost of $5,052. Accordingly, at December 31, 2013, a total of 4,867,500 shares remain available for repurchase. | ||||||||||||
Earnings per share | ||||||||||||
The following table sets forth the computation of basic and diluted earnings per share: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator: | ||||||||||||
Net income attributable to Sonoco | $ | 219,113 | $ | 196,010 | $ | 217,517 | ||||||
Denominator: | ||||||||||||
Weighted average common shares outstanding | 102,577,000 | 101,804,000 | 101,071,000 | |||||||||
Dilutive effect of stock-based compensation | 671,000 | 769,000 | 1,102,000 | |||||||||
Diluted outstanding shares | 103,248,000 | 102,573,000 | 102,173,000 | |||||||||
Per common share: | ||||||||||||
Net income attributable to Sonoco: | ||||||||||||
Basic | $ | 2.14 | $ | 1.93 | $ | 2.15 | ||||||
Diluted | $ | 2.12 | $ | 1.91 | $ | 2.13 | ||||||
The Company paid dividends totaling $1.23, $1.19, and $1.15 per share in 2013, 2012 and 2011, respectively. | ||||||||||||
Certain stock appreciation rights to purchase shares of the Company’s common stock are not dilutive because the exercise price is greater than the market price of the stock at the end of the fiscal year or they have not fully vested. The average number of shares that were not dilutive and therefore not included in the computation of diluted income per share was as follows for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Anti-dilutive stock appreciation rights | 1,100,233 | 2,440,270 | 1,753,451 | |||||||||
These stock appreciation rights may become dilutive in future periods if the market price of the Company’s common stock appreciates. No adjustments were made to reported net income in the computation of earnings per share. | ||||||||||||
Noncontrolling interests | ||||||||||||
In April 2011, the Company acquired the remaining 49% interest in its 51%-owned subsidiary, Sonoco For Plas do Brazil Ltda., for $5,718 in cash. As a result of the transaction, the Company wrote off the $2,727 carrying amount of noncontrolling interest and recorded a reduction in Capital in excess of stated value of $2,991. |
Segment_Reporting
Segment Reporting | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||
Segment Reporting | ' | |||||||||||||||||||||||
Segment reporting | ||||||||||||||||||||||||
The Company reports its financial results in four reportable segments – Consumer Packaging, Display and Packaging, Paper and Industrial Converted Products, and Protective Solutions. Effective January 1, 2014, Sonoco Alloyd, the Company's retail packaging business and previously part of the Protective Solutions segment, began being reported as part of the Display and Packaging segment. Management believes this change enables these businesses to better leverage the Company's capabilities, products, and services to provide complete solutions to our retail merchandising customers. Prior period financial information for the affected segments has been retrospectively revised to reflect this change. | ||||||||||||||||||||||||
The Consumer Packaging segment includes the following products and services: round and shaped rigid containers and trays (both composite and thermoformed plastic); blow-molded plastic bottles and jars; extruded and injection-molded plastic products; printed flexible packaging; global brand artwork management; and metal and peelable membrane ends and closures. | ||||||||||||||||||||||||
The Display and Packaging segment includes the following products and services: designing, manufacturing, assembling, packing and distributing temporary, semipermanent and permanent point-of-purchase displays; supply chain management services, including contract packing, fulfillment and scalable service centers; retail packaging, including printed backer cards, thermoformed blisters and heat sealing equipment; and paper amenities, such as coasters and glass covers. | ||||||||||||||||||||||||
The Paper and Industrial Converted Products segment includes the following products: paperboard tubes and cores; fiber-based construction tubes and forms; wooden, metal and composite wire and cable reels and spools; and recycled paperboard, linerboard, corrugating medium, recovered paper and material recycling services. | ||||||||||||||||||||||||
The Protective Solutions segment includes the following products: custom-engineered paperboard-based and expanded foam protective packaging and components; and temperature-assured packaging. | ||||||||||||||||||||||||
Restructuring charges, asset impairment charges, insurance settlement gains, acquisition-related costs, interest expense and interest income are included in income before income taxes under “Corporate.” | ||||||||||||||||||||||||
The following table sets forth financial information about each of the Company's business segments: | ||||||||||||||||||||||||
Years ended December 31 | ||||||||||||||||||||||||
Consumer | Display and Packaging | Paper and | Protective | Corporate | Consolidated | |||||||||||||||||||
Packaging | Industrial | Solutions | ||||||||||||||||||||||
Converted | ||||||||||||||||||||||||
Products | ||||||||||||||||||||||||
Total Revenue | ||||||||||||||||||||||||
2013 | $ | 1,898,690 | $ | 626,976 | $ | 1,958,762 | $ | 473,278 | $ | — | $ | 4,957,706 | ||||||||||||
2012 | 1,920,114 | 583,435 | 1,937,523 | 453,626 | — | 4,894,698 | ||||||||||||||||||
2011 | 1,982,989 | 487,621 | 1,996,221 | 144,251 | — | 4,611,082 | ||||||||||||||||||
Intersegment Sales1 | ||||||||||||||||||||||||
2013 | $ | 5,157 | $ | 1,968 | $ | 99,882 | $ | 2,607 | $ | — | $ | 109,614 | ||||||||||||
2012 | 7,493 | 2,253 | 96,696 | 2,127 | — | 108,569 | ||||||||||||||||||
2011 | 5,691 | 1,491 | 104,000 | 967 | — | 112,149 | ||||||||||||||||||
Sales to Unaffiliated Customers | ||||||||||||||||||||||||
2013 | $ | 1,893,533 | $ | 625,008 | $ | 1,858,880 | $ | 470,671 | $ | — | $ | 4,848,092 | ||||||||||||
2012 | 1,912,621 | 581,182 | 1,840,827 | 451,499 | — | 4,786,129 | ||||||||||||||||||
2011 | 1,977,298 | 486,130 | 1,892,220 | 143,284 | — | 4,498,932 | ||||||||||||||||||
Income Before Income Taxes2 | ||||||||||||||||||||||||
2013 | $ | 187,130 | $ | 20,806 | $ | 138,094 | $ | 40,084 | $ | (81,545 | ) | $ | 304,569 | |||||||||||
2012 | 176,768 | 20,397 | 141,351 | 36,912 | (88,354 | ) | 287,074 | |||||||||||||||||
2011 | 191,475 | 21,606 | 138,207 | 15,355 | (82,237 | ) | 284,406 | |||||||||||||||||
Identifiable Assets3 | ||||||||||||||||||||||||
2013 | $ | 1,282,726 | $ | 518,975 | $ | 1,290,353 | $ | 552,121 | $ | 335,116 | $ | 3,979,291 | ||||||||||||
2012 | 1,298,381 | 503,172 | 1,316,606 | 566,608 | 491,298 | 4,176,065 | ||||||||||||||||||
2011 | 1,357,691 | 477,001 | 1,294,712 | 572,719 | 290,676 | 3,992,799 | ||||||||||||||||||
Depreciation, Depletion and Amortization4 | ||||||||||||||||||||||||
2013 | $ | 74,127 | $ | 18,049 | $ | 82,392 | $ | 23,103 | $ | — | $ | 197,671 | ||||||||||||
2012 | 75,556 | 15,753 | 83,329 | 25,765 | — | 200,403 | ||||||||||||||||||
2011 | 80,257 | 8,239 | 86,559 | 4,816 | — | 179,871 | ||||||||||||||||||
Capital Expenditures | ||||||||||||||||||||||||
2013 | $ | 48,770 | $ | 7,422 | $ | 88,556 | $ | 15,908 | $ | 11,786 | $ | 172,442 | ||||||||||||
2012 | 58,284 | 9,170 | 112,298 | 8,889 | 26,221 | 214,862 | ||||||||||||||||||
2011 | 60,795 | 5,414 | 86,821 | 3,048 | 17,294 | 173,372 | ||||||||||||||||||
1 | Intersegment sales are recorded at a market-related transfer price. | |||||||||||||||||||||||
2 | Included in Corporate are restructuring, asset impairment charges, acquisition-related charges and insurance settlement gains associated with the following segments: | |||||||||||||||||||||||
Consumer | Display | Paper and | Protective | Corporate | Total | |||||||||||||||||||
Packaging | and | Industrial | Solutions | |||||||||||||||||||||
Packaging | Converted | |||||||||||||||||||||||
Products | ||||||||||||||||||||||||
2013 | $ | 14,003 | $ | 2,326 | $ | 6,785 | $ | 1,545 | $ | 159 | $ | 24,818 | ||||||||||||
2012 | 9,638 | 2,632 | 12,787 | 2,792 | 519 | 28,368 | ||||||||||||||||||
2011 | 19,790 | 4,575 | 6,163 | 4,901 | 8,734 | 44,163 | ||||||||||||||||||
The remaining amounts reported as Corporate consist of interest expense and interest income. | ||||||||||||||||||||||||
3 | Identifiable assets are those assets used by each segment in its operations. Corporate assets consist primarily of cash and cash equivalents, investments in affiliates, headquarters facilities, deferred income taxes and prepaid expenses. | |||||||||||||||||||||||
4 | Depreciation, depletion and amortization incurred at Corporate are allocated to the reportable segments. | |||||||||||||||||||||||
Geographic regions | ||||||||||||||||||||||||
Sales to unaffiliated customers and long-lived assets by geographic region are as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Sales to Unaffiliated Customers | ||||||||||||||||||||||||
United States | $ | 3,231,135 | $ | 3,165,772 | $ | 2,821,043 | ||||||||||||||||||
Europe | 751,806 | 768,667 | 777,200 | |||||||||||||||||||||
Canada | 299,243 | 338,657 | 385,805 | |||||||||||||||||||||
All other | 565,908 | 513,033 | 514,884 | |||||||||||||||||||||
Total | $ | 4,848,092 | $ | 4,786,129 | $ | 4,498,932 | ||||||||||||||||||
Long-lived Assets | ||||||||||||||||||||||||
United States | $ | 1,878,728 | $ | 1,910,824 | $ | 1,884,897 | ||||||||||||||||||
Europe | 288,407 | 275,884 | 279,969 | |||||||||||||||||||||
Canada | 205,095 | 229,129 | 253,057 | |||||||||||||||||||||
All other | 109,010 | 117,071 | 113,777 | |||||||||||||||||||||
Total | $ | 2,481,240 | $ | 2,532,908 | $ | 2,531,700 | ||||||||||||||||||
Sales are attributed to countries/regions based upon the plant location from which products are shipped. Long-lived assets are comprised of property, plant and equipment, goodwill, intangible assets and investment in affiliates (see Notes 6 and 7). |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Accumulated Other Comprehensive Loss | ' | |||||||||||||||
Accumulated other comprehensive loss | ||||||||||||||||
The following table summarizes the components of accumulated other comprehensive loss and the changes in accumulated other comprehensive loss, net of tax as applicable, for the years ended December 31, 2013 and 2012: | ||||||||||||||||
Foreign | Defined | Gains and Losses on Cash Flow Hedges | Accumulated | |||||||||||||
Currency | Benefit | Other | ||||||||||||||
Items | Pension Items | Comprehensive | ||||||||||||||
Loss | ||||||||||||||||
Balance at December 31, 2011 | $ | (21,277 | ) | $ | (430,835 | ) | $ | (8,187 | ) | $ | (460,299 | ) | ||||
Other comprehensive income/(loss) before reclassifications | 24,511 | (61,809 | ) | (1,200 | ) | (38,498 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive loss to net income | — | 20,311 | 2,634 | 22,945 | ||||||||||||
Amounts reclassified from accumulated other comprehensive loss to fixed assets | — | — | 26 | 26 | ||||||||||||
Other comprehensive income/(loss) | 24,511 | (41,498 | ) | 1,460 | (15,527 | ) | ||||||||||
Balance at December 31, 2012 | $ | 3,234 | $ | (472,333 | ) | $ | (6,727 | ) | $ | (475,826 | ) | |||||
Other comprehensive income/(loss) before reclassifications | (28,386 | ) | 111,269 | 3,992 | 86,875 | |||||||||||
Amounts reclassified from accumulated other comprehensive loss to net income | — | 27,958 | 2,392 | 30,350 | ||||||||||||
Amounts reclassified from accumulated other comprehensive loss to fixed assets | — | — | 81 | 81 | ||||||||||||
Other comprehensive income/(loss) | (28,386 | ) | 139,227 | 6,465 | 117,306 | |||||||||||
Balance at December 31, 2013 | $ | (25,152 | ) | $ | (333,106 | ) | $ | (262 | ) | $ | (358,520 | ) | ||||
Amount Reclassified from Accumulated Other Comprehensive Loss | ||||||||||||||||
Details about Accumulated Other Comprehensive Loss Components | Twelve Months Ended December 31, 2013 | Twelve Months Ended December 31, 2012 | Affected Line Item in the Consolidated Statements of Net Income | |||||||||||||
Gains and losses on cash flow hedges | ||||||||||||||||
Foreign exchange contracts | $ | 4,603 | $ | 336 | Net Sales | |||||||||||
Foreign exchange contracts | (2,996 | ) | 870 | Cost of sales | ||||||||||||
Commodity contracts | (5,455 | ) | (5,639 | ) | Cost of sales | |||||||||||
(3,848 | ) | (4,433 | ) | Total before tax | ||||||||||||
1,456 | 1,799 | Tax benefit | ||||||||||||||
$ | (2,392 | ) | $ | (2,634 | ) | Net of tax | ||||||||||
Defined benefit pension items | ||||||||||||||||
Amortization of defined benefit pension items | $ | (32,821 | ) | $ | (24,227 | ) | Cost of sales | |||||||||
Amortization of defined benefit pension items | (10,940 | ) | (8,076 | ) | Selling, general, and administrative | |||||||||||
(43,761 | ) | (32,303 | ) | Total before tax | ||||||||||||
15,803 | 11,992 | Tax benefit | ||||||||||||||
(27,958 | ) | (20,311 | ) | Net of tax | ||||||||||||
Total reclassifications for the period | $ | (30,350 | ) | $ | (22,945 | ) | Net of tax | |||||||||
The cumulative tax benefit on Derivative Financial Instruments was $165 and $4,045 at December 31, 2013 and 2012, respectively. The tax benefit on Derivative Financial Instruments decreased by $(3,880) and $(979) during the years ended December 31, 2013 and 2012, respectively. | ||||||||||||||||
The cumulative tax benefit on Defined Benefit Plans was $189,668 and $278,235 at December 31, 2013 and 2012, respectively. The tax benefit on Defined Benefit Plans decreased by $(88,567) and increased by $22,769 during the years ended December 31, 2013 and 2012, respectively. | ||||||||||||||||
The change in defined benefit plans includes pretax changes of $1,754 and $(1,206) during the years ended December 31, 2013 and 2012, related to one of the Company’s equity method investments. |
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Selected Quarterly Financial Data | ' | |||||||||||||||
Selected quarterly financial data | ||||||||||||||||
The following table sets forth selected quarterly financial data of the Company: | ||||||||||||||||
(unaudited) | First | Second | Third | Fourth | ||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
2013 | ||||||||||||||||
Net sales | $ | 1,179,213 | $ | 1,226,256 | $ | 1,227,749 | $ | 1,214,874 | ||||||||
Gross profit | 205,716 | 222,564 | 224,037 | 221,187 | ||||||||||||
Restructuring/Asset impairment charges | (4,289 | ) | (8,678 | ) | (5,818 | ) | (6,253 | ) | ||||||||
Net income attributable to Sonoco | 48,139 | 54,988 | 61,240 | 54,746 | ||||||||||||
Per common share: | ||||||||||||||||
Net income attributable to Sonoco: | ||||||||||||||||
- basic | $ | 0.47 | $ | 0.54 | $ | 0.6 | $ | 0.53 | ||||||||
- diluted | 0.47 | 0.53 | 0.59 | 0.53 | ||||||||||||
Cash dividends | ||||||||||||||||
- common | 0.3 | 0.31 | 0.31 | 0.31 | ||||||||||||
Market price | ||||||||||||||||
- high | 35.05 | 35.93 | 39.8 | 41.82 | ||||||||||||
- low | 29.75 | 32.03 | 34.65 | 37.85 | ||||||||||||
2012 | ||||||||||||||||
Net sales | $ | 1,212,370 | $ | 1,202,359 | $ | 1,195,530 | $ | 1,175,870 | ||||||||
Gross profit | 216,861 | 216,542 | 206,229 | 204,000 | ||||||||||||
Restructuring/Asset impairment charges | (15,212 | ) | (9,396 | ) | 444 | (8,694 | ) | |||||||||
Net income attributable to Sonoco | 43,068 | 51,323 | 58,836 | 42,783 | ||||||||||||
Per common share: | ||||||||||||||||
Net income attributable to Sonoco: | ||||||||||||||||
- basic | $ | 0.42 | $ | 0.5 | $ | 0.58 | $ | 0.42 | ||||||||
- diluted | 0.42 | 0.5 | 0.57 | 0.42 | ||||||||||||
Cash dividends | ||||||||||||||||
- common | 0.29 | 0.3 | 0.3 | 0.3 | ||||||||||||
Market price | ||||||||||||||||
- high | 34.83 | 33.91 | 31.67 | 32.51 | ||||||||||||
- low | 31.02 | 29.57 | 28.61 | 29 | ||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Text Block [Abstract] | ' | ||
Basis of Presentation | ' | ||
Basis of presentation | |||
The Consolidated Financial Statements include the accounts of Sonoco Products Company and its majority-owned subsidiaries (the “Company” or “Sonoco”) after elimination of intercompany accounts and transactions. | |||
Investments in affiliated companies in which the Company shares control over the financial and operating decisions, but in which the Company is not the primary beneficiary, are accounted for by the equity method of accounting. Income applicable to these equity investments is reflected in “Equity in earnings of affiliates, net of tax” in the Consolidated Statements of Income. The aggregate carrying value of equity investments is reported in “Other Assets” in the Company’s Consolidated Balance Sheets and totaled $116,193 and $110,687 at December 31, 2013 and 2012, respectively. | |||
Affiliated companies in which the Company held a significant investment at December 31, 2013, included: | |||
Entity | Ownership Interest | ||
Percentage at | |||
December 31, 2013 | |||
RTS Packaging JVCO | 35 | % | |
Cascades Conversion, Inc. | 50 | % | |
Cascades Sonoco, Inc. | 50 | % | |
Showa Products Company Ltd. | 20 | % | |
Conitex Sonoco Holding BVI Ltd. | 30 | % | |
Also included in the investment totals above is the Company’s 19.5% ownership in a small tube and core business in Chile and its 12.19% ownership in a small paper recycling business in Finland. These investments are accounted for under the cost method. | |||
Estimates and Assumptions | ' | ||
Estimates and assumptions | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||
Revenue Recognition | ' | ||
Revenue recognition | |||
The Company records revenue when title and risk of ownership pass to the customer, and when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price to the customer is fixed or determinable and when collectibility is reasonably assured. Certain judgments, such as provisions for estimates of sales returns and allowances, are required in the application of the Company’s revenue policy and, therefore, are included in the results of operations in its Consolidated Financial Statements. Shipping and handling expenses are included in “Cost of sales,” and freight charged to customers is included in “Net sales” in the Company’s Consolidated Statements of Income. | |||
The Company has rebate agreements with certain customers. These rebates are recorded as reductions of sales and are accrued using sales data and rebate percentages specific to each customer agreement. Accrued customer rebates are included in “Accrued expenses and other” in the consolidated balance sheets. | |||
Accounts Receivable and Allowance for Doubtful Accounts | ' | ||
Accounts receivable and allowance for doubtful accounts | |||
The Company’s trade accounts receivable are non-interest bearing and are recorded at the invoiced amounts. The allowance for doubtful accounts represents the Company’s best estimate of the amount of probable credit losses in existing accounts receivable. Provisions are made to the allowance for doubtful accounts at such time that collection of all or part of a trade account receivable is in question. The allowance for doubtful accounts is monitored on a regular basis and adjustments are made as needed to ensure that the account properly reflects the Company’s best estimate of uncollectible trade accounts receivable. Trade accounts receivable balances that are more than 180 days past due are generally 100% provided for in the allowance for doubtful accounts. Account balances are charged off against the allowance for doubtful accounts when the Company determines that the receivable will not be recovered. | |||
Research and Development | ' | ||
Research and development | |||
Research and development costs are charged to expense as incurred and include salaries and other directly related expenses. Research and development costs totaling approximately $20,100 in 2013, $20,200 in 2012 and $18,800 in 2011 are included in “Selling, general and administrative expenses” in the Company’s Consolidated Statements of Income. | |||
Restructuring and Asset Impairment | ' | ||
Restructuring and asset impairment | |||
Costs associated with exit or disposal activities are recognized when the liability is incurred. If assets become impaired as a result of a restructuring action, the assets are written down to fair value, less estimated costs to sell, if applicable. A number of significant estimates and assumptions are involved in the determination of fair value. The Company considers historical experience and all available information at the time the estimates are made; however, the amounts that are ultimately realized upon the sale of divested assets may differ from the estimated fair values reflected in the Company’s Consolidated Financial Statements. | |||
Cash and Cash Equivalents | ' | ||
Cash and cash equivalents | |||
Cash equivalents are composed of highly liquid investments with an original maturity of three months or less. Cash equivalents are recorded at cost, which approximates market. | |||
Inventories | ' | ||
Inventories | |||
Inventories are stated at the lower of cost or market. The last-in, first-out (LIFO) method is used for the valuation of certain of the Company’s domestic inventories, primarily metal, internally manufactured paper and paper purchased from third parties. | |||
The LIFO method of accounting was used to determine the carrying costs of approximately 17% and 19% of total inventories at December 31, 2013 and 2012, respectively. The remaining inventories are determined on the first-in, first-out (FIFO) method. | |||
If the FIFO method of accounting had been used for all inventories, total inventory would have been higher by $18,146 and $19,476 at December 31, 2013 and 2012, respectively. | |||
Property, Plant and Equipment | ' | ||
Property, plant and equipment | |||
Plant assets represent the original cost of land, buildings and equipment, less depreciation, computed under the straight-line method over the estimated useful lives of the assets, and are reviewed for impairment whenever events indicate the carrying value may not be recoverable. | |||
Equipment lives generally range from 3 to 11 years, and buildings from 15 to 40 years. | |||
Timber resources are stated at cost. Depletion is charged to operations based on the estimated number of units of timber cut during the year. | |||
Goodwill and Other Intangible Assets | ' | ||
Goodwill and other intangible assets | |||
The Company evaluates its goodwill for impairment at least annually, and more frequently if indicators of impairment are present. In performing the impairment test, the Company first makes an assessment regarding the likelihood of impairment. If it is not more likely than not that goodwill is impaired for any of its reporting units, no further testing is performed. Otherwise, the Company uses discounted future cash flows to estimate the fair value of each reporting unit it believes may have a goodwill impairment giving consideration to multiples it believes could be obtained in a sale. If the fair value of the reporting unit exceeds the carrying value of the reporting unit’s assets, including goodwill, there is no impairment. If not, and the carrying value of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment charge is recognized for the excess. Goodwill is not amortized. | |||
Intangible assets are amortized, usually on a straight-line basis, over their respective useful lives, which generally range from three to 40 years. The Company evaluates its intangible assets for impairment whenever indicators of impairment exist. The Company has no intangibles with indefinite lives. | |||
Income Taxes | ' | ||
Income taxes | |||
The Company provides for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting requirements and tax laws. Assets and liabilities are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. | |||
Derivatives | ' | ||
Derivatives | |||
The Company uses derivatives to mitigate the effect of fluctuations in some of its raw material and energy costs, foreign currency fluctuations and interest rate movements. The Company purchases commodities such as recovered paper, metal and energy generally at market or at fixed prices that are established with the vendor as part of the purchase process for quantities expected to be consumed in the ordinary course of business. The Company may enter into commodity futures or swaps to manage the effect of price fluctuations. The Company may use foreign currency forward contracts and other risk management instruments to manage exposure to changes in foreign currency cash flows and the translation of monetary assets and liabilities on the Company’s consolidated financial statements. The Company is exposed to interest-rate fluctuations as a result of using debt as a source of financing for its operations. The Company may from time to time use traditional, unleveraged interest rate swaps to adjust its mix of fixed and variable rate debt to manage its exposure to interest rate movements. | |||
The Company records its derivatives as assets or liabilities on the balance sheet at fair value using published market prices or estimated values based on current price and/or rate quotes and discounted estimated cash flows. Changes in the fair value of derivatives are recognized either in net income or in other comprehensive income, depending on the designated purpose of the derivative. It is the Company’s policy not to speculate in derivative instruments. | |||
Reportable Segments | ' | ||
Reportable segments | |||
The Company identifies its reportable segments by evaluating the level of detail reviewed by the chief operating decision maker, gross profit margins, nature of products sold, nature of the production processes, type and class of customer, methods used to distribute product, and nature of the regulatory environment. Of these factors, the Company believes that the most significant are the nature of its products and the type of customers served. | |||
Contingencies | ' | ||
Contingencies | |||
Pursuant to U.S. GAAP for accounting for contingencies, accruals for estimated losses are recorded at the time information becomes available indicating that losses are probable and that the amounts are reasonably estimable. Amounts so accrued are not discounted. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Text Block [Abstract] | ' | ||
Company Held Significant Investment | ' | ||
Affiliated companies in which the Company held a significant investment at December 31, 2013, included: | |||
Entity | Ownership Interest | ||
Percentage at | |||
December 31, 2013 | |||
RTS Packaging JVCO | 35 | % | |
Cascades Conversion, Inc. | 50 | % | |
Cascades Sonoco, Inc. | 50 | % | |
Showa Products Company Ltd. | 20 | % | |
Conitex Sonoco Holding BVI Ltd. | 30 | % |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Text Block [Abstract] | ' | |||
Summary of Initial Fair Value of Assets Acquired and Liabilities Assumed at Acquisition Date | ' | |||
Following is a summary of the fair values of the assets acquired and liabilities assumed at the acquisition date: | ||||
Trade accounts receivable | $ | 61,969 | ||
Inventories | 38,036 | |||
Prepaid expenses | 1,136 | |||
Property, plant and equipment | 92,748 | |||
Goodwill | 269,953 | |||
Other intangible assets | 187,830 | |||
Payables to suppliers | (31,154 | ) | ||
Accrued expenses and other | (41,506 | ) | ||
Total debt | (3,966 | ) | ||
Deferred income taxes, net | (14,695 | ) | ||
Other long-term liabilities | (9,848 | ) | ||
Total net assets | $ | 550,503 | ||
Restructuring_and_Asset_Impair1
Restructuring and Asset Impairment (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||
Restructuring and Related Costs | ' | |||||||||||||||
2011 and Earlier Actions are comprised of a number of plant closures and workforce reductions initiated prior to 2012. | ||||||||||||||||
Below is a summary of 2011 and Earlier Actions and related expenses by type incurred. | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
2011 and Earlier Actions | 2013 | 2012 | 2011 | |||||||||||||
Severance and Termination Benefits | ||||||||||||||||
Consumer Packaging | $ | 17 | $ | 3,348 | $ | 7,144 | ||||||||||
Display and Packaging | — | 346 | 842 | |||||||||||||
Paper and Industrial Converted Products | 474 | 331 | 9,673 | |||||||||||||
Protective Solutions | — | 280 | 1,109 | |||||||||||||
Corporate | — | — | 11 | |||||||||||||
Asset Impairment/Disposal of Assets | ||||||||||||||||
Consumer Packaging | (438 | ) | (3,586 | ) | 10,202 | |||||||||||
Display and Packaging | — | (791 | ) | 3,057 | ||||||||||||
Paper and Industrial Converted Products | (451 | ) | (1,735 | ) | (807 | ) | ||||||||||
Protective Solutions | 589 | — | 65 | |||||||||||||
Other Costs | ||||||||||||||||
Consumer Packaging | 2,183 | 4,081 | 1,869 | |||||||||||||
Display and Packaging | — | 827 | 677 | |||||||||||||
Paper and Industrial Converted Products | 1,266 | 4,316 | 2,404 | |||||||||||||
Protective Solutions | 240 | 760 | 580 | |||||||||||||
Total Charges and Adjustments | $ | 3,880 | $ | 8,177 | $ | 36,826 | ||||||||||
Below is a summary of 2013 Actions and related expenses by type incurred and estimated to be incurred through completion. | ||||||||||||||||
2013 Actions | Year Ended December 31, 2013 | Estimated | ||||||||||||||
Total Cost | ||||||||||||||||
Severance and Termination Benefits | ||||||||||||||||
Consumer Packaging | $ | 4,910 | $ | 5,610 | ||||||||||||
Display and Packaging | 1,404 | 1,654 | ||||||||||||||
Paper and Industrial Converted Products | 3,347 | 3,397 | ||||||||||||||
Protective Solutions | 216 | 216 | ||||||||||||||
Asset Impairment/Disposal of Assets | ||||||||||||||||
Consumer Packaging | 5,926 | 5,926 | ||||||||||||||
Display and Packaging | 165 | 165 | ||||||||||||||
Paper and Industrial Converted Products | 492 | 492 | ||||||||||||||
Protective Solutions | 662 | 662 | ||||||||||||||
Other Costs | ||||||||||||||||
Consumer Packaging | 1,021 | 1,471 | ||||||||||||||
Display and Packaging | 97 | 297 | ||||||||||||||
Paper and Industrial Converted Products | 447 | 547 | ||||||||||||||
Protective Solutions | 134 | 234 | ||||||||||||||
Total Charges and Adjustments | $ | 18,821 | $ | 20,671 | ||||||||||||
Below is a summary of 2012 Actions and related expenses by type incurred and estimated to be incurred through completion. | ||||||||||||||||
Year Ended December 31, | Total | Estimated | ||||||||||||||
Incurred to | Total Cost | |||||||||||||||
2012 Actions | 2013 | 2012 | Date | |||||||||||||
Severance and Termination Benefits | ||||||||||||||||
Consumer Packaging | $ | 239 | $ | 2,571 | $ | 2,810 | $ | 2,810 | ||||||||
Display and Packaging | (3 | ) | 1,897 | 1,894 | 1,894 | |||||||||||
Paper and Industrial Converted Products | 384 | 10,329 | 10,713 | 10,713 | ||||||||||||
Protective Solutions | 67 | 999 | 1,066 | 1,066 | ||||||||||||
Corporate | — | 297 | 297 | 297 | ||||||||||||
Asset Impairment/Disposal of Assets | ||||||||||||||||
Consumer Packaging | 154 | 2,921 | 3,075 | 3,075 | ||||||||||||
Display and Packaging | — | — | — | — | ||||||||||||
Paper and Industrial Converted Products | 352 | 2,404 | 2,756 | 2,756 | ||||||||||||
Protective Solutions | (28 | ) | 161 | 133 | 133 | |||||||||||
Other Costs | ||||||||||||||||
Consumer Packaging | 191 | 861 | 1,052 | 1,202 | ||||||||||||
Display and Packaging | 249 | 355 | 604 | 604 | ||||||||||||
Paper and Industrial Converted Products | 722 | 1,294 | 2,016 | 2,216 | ||||||||||||
Protective Solutions | (24 | ) | 592 | 568 | 568 | |||||||||||
Corporate | 34 | — | 34 | 34 | ||||||||||||
Total Charges and Adjustments | $ | 2,337 | $ | 24,681 | $ | 27,018 | $ | 27,368 | ||||||||
Restructuring And Asset Impairment Charges Table | ' | |||||||||||||||
Following are the total restructuring and asset impairment charges, net of adjustments, recognized by the Company during the periods presented: | ||||||||||||||||
Year Ended December 31 | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Restructuring/Asset impairment: | ||||||||||||||||
2013 Actions | $ | 18,821 | $ | — | $ | — | ||||||||||
2012 Actions | 2,337 | 24,681 | — | |||||||||||||
2011 and Earlier Actions | 3,880 | 8,177 | 36,826 | |||||||||||||
Restructuring/Asset impairment charges | $ | 25,038 | $ | 32,858 | $ | 36,826 | ||||||||||
Income tax benefit | (6,774 | ) | (9,836 | ) | (11,506 | ) | ||||||||||
Equity method investments, net of tax | — | 22 | 17 | |||||||||||||
Benefit attributable to noncontrolling interests, net of tax | 2 | 116 | 200 | |||||||||||||
Total impact of restructuring/asset impairment charges, net of tax | $ | 18,266 | $ | 23,160 | $ | 25,537 | ||||||||||
Schedule of Restructuring Reserve by Type of Cost | ' | |||||||||||||||
The following table sets forth the activity in the 2011 and Earlier Actions restructuring accrual included in “Accrued expenses and other” on the Company’s Consolidated Balance Sheets: | ||||||||||||||||
2011 and Earlier Actions | Severance | Asset | Other | Total | ||||||||||||
Accrual Activity | and | Impairment/ | Costs | |||||||||||||
Termination | Disposal | |||||||||||||||
Benefits | of Assets | |||||||||||||||
Liability, December 31, 2011 | $ | 14,132 | $ | — | $ | 307 | $ | 14,439 | ||||||||
2012 charges | 4,493 | 496 | 9,984 | 14,973 | ||||||||||||
Adjustments | (188 | ) | (6,608 | ) | — | (6,796 | ) | |||||||||
Cash receipts/(payments) | (13,356 | ) | 21,319 | (10,201 | ) | (2,238 | ) | |||||||||
Asset write downs/disposals | — | (15,207 | ) | — | (15,207 | ) | ||||||||||
Foreign currency translation | 58 | — | — | 58 | ||||||||||||
Liability, December 31, 2012 | $ | 5,139 | $ | — | $ | 90 | $ | 5,229 | ||||||||
2013 charges | 581 | 828 | 5,144 | 6,553 | ||||||||||||
Adjustments | (89 | ) | (2,572 | ) | (12 | ) | (2,673 | ) | ||||||||
Cash receipts/(payments) | (2,559 | ) | 2,235 | (5,205 | ) | (5,529 | ) | |||||||||
Asset write downs/disposals | — | (491 | ) | — | (491 | ) | ||||||||||
Foreign currency translation | (9 | ) | — | 1 | (8 | ) | ||||||||||
Liability, December 31, 2013 | $ | 3,063 | $ | — | $ | 18 | $ | 3,081 | ||||||||
The following table sets forth the activity in the 2013 Actions restructuring accrual included in “Accrued expenses and other” on the Company’s Consolidated Balance Sheets: | ||||||||||||||||
2013 Actions | Severance | Asset | Other | Total | ||||||||||||
Accrual Activity | and | Impairment/ | Costs | |||||||||||||
Termination | Disposal | |||||||||||||||
Benefits | of Assets | |||||||||||||||
Liability, December 31, 2012 | $ | — | $ | — | $ | — | $ | — | ||||||||
2013 charges | 9,877 | 7,245 | 1,699 | 18,821 | ||||||||||||
Cash receipts/(payments) | (6,716 | ) | 6,641 | (1,699 | ) | (1,774 | ) | |||||||||
Asset write downs/disposals | — | (13,886 | ) | — | (13,886 | ) | ||||||||||
Foreign currency translation | 97 | — | — | 97 | ||||||||||||
Liability, December 31, 2013 | $ | 3,258 | $ | — | $ | — | $ | 3,258 | ||||||||
The following table sets forth the activity in the 2012 Actions restructuring accrual included in “Accrued expenses and other” on the Company’s Consolidated Balance Sheets: | ||||||||||||||||
2012 Actions | Severance | Asset | Other | Total | ||||||||||||
Accrual Activity | and | Impairment/ | Costs | |||||||||||||
Termination | Disposal | |||||||||||||||
Benefits | of Assets | |||||||||||||||
Liability, December 31, 2011 | $ | — | $ | — | $ | — | $ | — | ||||||||
2012 charges | 16,093 | 5,486 | 3,102 | 24,681 | ||||||||||||
Cash receipts/(payments) | (9,735 | ) | 600 | (3,015 | ) | (12,150 | ) | |||||||||
Asset write downs/disposals | — | (6,086 | ) | — | (6,086 | ) | ||||||||||
Foreign currency translation | (45 | ) | — | (7 | ) | (52 | ) | |||||||||
Liability, December 31, 2012 | $ | 6,313 | $ | — | $ | 80 | $ | 6,393 | ||||||||
2013 charges | 1,085 | 547 | 1,172 | 2,804 | ||||||||||||
Adjustments | (398 | ) | (69 | ) | — | (467 | ) | |||||||||
Cash receipts/(payments) | (5,555 | ) | 42 | (1,252 | ) | (6,765 | ) | |||||||||
Asset write downs/disposals | — | (520 | ) | — | (520 | ) | ||||||||||
Foreign currency translation | 21 | — | — | 21 | ||||||||||||
Liability, December 31, 2013 | $ | 1,466 | $ | — | $ | — | $ | 1,466 | ||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Summary of Property, Plant and Equipment | ' | |||||||
Details of the Company's property, plant and equipment at December 31 are as follows: | ||||||||
2013 | 2012 | |||||||
Land | $ | 81,905 | $ | 78,520 | ||||
Timber resources | 40,260 | 39,787 | ||||||
Buildings | 467,386 | 467,888 | ||||||
Machinery and equipment | 2,725,435 | 2,567,403 | ||||||
Construction in progress | 90,770 | 142,689 | ||||||
3,405,756 | 3,296,287 | |||||||
Accumulated depreciation and depletion | (2,383,836 | ) | (2,261,381 | ) | ||||
Property, plant and equipment, net | $ | 1,021,920 | $ | 1,034,906 | ||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||
Changes in Goodwill | ' | |||||||||||||||||||
The changes in the carrying amount of goodwill by segment for the year ended December 31, 2013, are as follows: | ||||||||||||||||||||
Consumer | Display | Paper and | Protective | Total | ||||||||||||||||
Packaging | and | Industrial | Solutions | |||||||||||||||||
Packaging | Converted | |||||||||||||||||||
Products | ||||||||||||||||||||
Balance as of January 1, 2013 | $ | 427,575 | $ | 204,629 | $ | 254,706 | $ | 223,595 | $ | 1,110,505 | ||||||||||
Goodwill on acquisitions | 796 | — | — | — | 796 | |||||||||||||||
Dispositions | — | — | — | (2,430 | ) | (2,430 | ) | |||||||||||||
Foreign currency translation | (9,606 | ) | — | (58 | ) | — | (9,664 | ) | ||||||||||||
Balance as of December 31, 2013 | $ | 418,765 | $ | 204,629 | $ | 254,648 | $ | 221,165 | $ | 1,099,207 | ||||||||||
Summary of Other Intangible Assets | ' | |||||||||||||||||||
Details at December 31 are as follows: | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Other Intangible Assets, Gross: | ||||||||||||||||||||
Patents | $ | 2,221 | $ | 2,224 | ||||||||||||||||
Customer lists | 339,911 | 345,133 | ||||||||||||||||||
Trade names | 21,232 | 21,214 | ||||||||||||||||||
Proprietary technology | 17,866 | 17,844 | ||||||||||||||||||
Land use rights | 323 | 350 | ||||||||||||||||||
Other | 4,731 | 4,944 | ||||||||||||||||||
Other Intangible Assets, Gross | $ | 386,284 | $ | 391,709 | ||||||||||||||||
Accumulated Amortization | $ | (142,364 | ) | $ | (114,900 | ) | ||||||||||||||
Other Intangible Assets, Net | $ | 243,920 | $ | 276,809 | ||||||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Text Block [Abstract] | ' | |||||||
Debt Instruments | ' | |||||||
Debt at December 31 was as follows: | ||||||||
2013 | 2012 | |||||||
5.75% debentures due November 2040 | $ | 604,520 | $ | 604,688 | ||||
4.375% debentures due November 2021 | 249,106 | 248,991 | ||||||
9.2% debentures due August 2021 | 4,321 | 4,321 | ||||||
5.625% debentures due November 2016 | 75,165 | 75,129 | ||||||
6.5% debentures due November 2013 | — | 118,358 | ||||||
Term loan, due November 2014 | — | 135,000 | ||||||
Commercial paper, average rate of 0.37% in 2013 and 0.37% in 2012 | — | 152,000 | ||||||
Foreign denominated debt, average rate of 4.4% in 2013 and 5.5% in 2012 | 35,268 | 20,358 | ||||||
Other notes | 13,078 | 14,217 | ||||||
Total debt | 981,458 | 1,373,062 | ||||||
Less current portion and short-term notes | 35,201 | 273,608 | ||||||
Long-term debt | $ | 946,257 | $ | 1,099,454 | ||||
Financial_Instruments_and_Deri1
Financial Instruments and Derivatives (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Carrying Amounts and Fair Values of Financial Instruments | ' | |||||||||||||||
The following table sets forth the carrying amounts and fair values of the Company’s significant financial instruments where the carrying amount differs from the fair value. | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||
Amount | Value | Amount | Value | |||||||||||||
Long-term debt | $ | 946,257 | $ | 999,247 | $ | 1,099,454 | $ | 1,214,292 | ||||||||
Net Positions of Foreign Contracts | ' | |||||||||||||||
The net positions of these contracts at December 31, 2013, were as follows: | ||||||||||||||||
Currency | Action | Quantity | ||||||||||||||
Colombian peso | Purchase | 14,773,186 | ||||||||||||||
Mexican peso | Purchase | 273,681 | ||||||||||||||
Canadian dollar | Purchase | 52,973 | ||||||||||||||
Turkish lira | Purchase | 6,604 | ||||||||||||||
British pound | Purchase | 4,153 | ||||||||||||||
Polish zloty | Purchase | 2,651 | ||||||||||||||
New Zealand dollar | Sell | (3,123 | ) | |||||||||||||
Australian dollar | Sell | (6,405 | ) | |||||||||||||
Euro | Sell | (7,459 | ) | |||||||||||||
Net Positions of Other Derivatives Contract | ' | |||||||||||||||
The net positions of these contracts at December 31, 2013, were as follows: | ||||||||||||||||
Currency | Action | Quantity | ||||||||||||||
Colombian peso | Purchase | 17,172,892 | ||||||||||||||
Mexican peso | Purchase | 164,010 | ||||||||||||||
Canadian dollar | Purchase | 13,894 | ||||||||||||||
British pound | Purchase | 6,105 | ||||||||||||||
Euro | Sell | (2,284 | ) | |||||||||||||
Location and Fair Values of Derivative Instruments | ' | |||||||||||||||
he following table sets forth the location and fair values of the Company’s derivative instruments: | ||||||||||||||||
Fair Value at December 31 | ||||||||||||||||
Description | Balance Sheet Location | 2013 | 2012 | |||||||||||||
Derivatives designated as hedging instruments: | ||||||||||||||||
Commodity Contracts | Prepaid expenses | $ | 535 | $ | 201 | |||||||||||
Commodity Contracts | Other assets | $ | 363 | $ | — | |||||||||||
Commodity Contracts | Accrued expenses and other | $ | (1,228 | ) | $ | (4,760 | ) | |||||||||
Commodity Contracts | Other liabilities | $ | — | $ | (1,727 | ) | ||||||||||
Foreign Exchange Contracts | Prepaid expenses | $ | 896 | $ | 725 | |||||||||||
Foreign Exchange Contracts | Accrued expenses and other | $ | (993 | ) | $ | (5,208 | ) | |||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Foreign Exchange Contracts | Prepaid expenses | $ | 468 | $ | 679 | |||||||||||
Foreign Exchange Contracts | Other Assets | $ | — | $ | 36 | |||||||||||
Foreign Exchange Contracts | Accrued expenses and other | $ | (53 | ) | $ | (7 | ) | |||||||||
Effect of Derivative Instruments on Financial Performance | ' | |||||||||||||||
The following table sets forth the effect of the Company’s derivative instruments on financial performance for the twelve months ended December 31, 2013, excluding the losses on foreign currency cash flow hedges that were reclassified from accumulated other comprehensive loss to the carrying value of the capitalized expenditures: | ||||||||||||||||
Description | Amount of Gain or | Location of Gain or | Amount of Gain | Location of Gain or | Amount of Gain or | |||||||||||
(Loss) Recognized | (Loss) Reclassified | or (Loss) | (Loss) Recognized | (Loss) Recognized | ||||||||||||
in OCI on | from Accumulated | Reclassified from | in Income on | in Income on | ||||||||||||
Derivative | OCI Into Income | Accumulated OCI | Derivative | Derivative | ||||||||||||
(Effective Portion) | (Effective Portion) | Into Income | (Ineffective Portion) | (Ineffective Portion) | ||||||||||||
(Effective | ||||||||||||||||
Portion) | ||||||||||||||||
Derivatives in Cash Flow | ||||||||||||||||
Hedging Relationships: | ||||||||||||||||
Foreign Exchange Contracts | $ | 5,928 | Net sales | $ | 4,603 | Net sales | $ | — | ||||||||
Cost of sales | $ | (2,996 | ) | Cost of sales | $ | — | ||||||||||
Commodity Contracts | $ | 488 | Cost of sales | $ | (5,455 | ) | Cost of sales | $ | 13 | |||||||
Location of Gain or | Gain or (Loss) | |||||||||||||||
(Loss) Recognized | Recognized | |||||||||||||||
in Income | ||||||||||||||||
Statement | ||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||
Foreign Exchange Contracts | Cost of sales | $ | (235 | ) | ||||||||||||
Selling, general and | $ | (58 | ) | |||||||||||||
administrative | ||||||||||||||||
The following table sets forth the effect of the Company’s derivative instruments on financial performance for the twelve months ended December 31, 2012, excluding the gains on foreign currency cash flow hedges that were reclassified from accumulated other comprehensive loss to the carrying value of the capitalized expenditures: | ||||||||||||||||
Description | Amount of Gain or | Location of Gain or | Amount of Gain | Location of Gain or | Amount of Gain or | |||||||||||
(Loss) Recognized | (Loss) Reclassified | or (Loss) | (Loss) Recognized | (Loss) Recognized | ||||||||||||
in OCI on | from Accumulated | Reclassified from | in Income on | in Income on | ||||||||||||
Derivative | OCI Into Income | Accumulated OCI | Derivative | Derivative | ||||||||||||
(Effective Portion) | (Effective Portion) | Into Income | (Ineffective Portion) | (Ineffective Portion) | ||||||||||||
(Effective | ||||||||||||||||
Portion) | ||||||||||||||||
Derivatives in Cash Flow Hedging Relationships: | ||||||||||||||||
Foreign Exchange Contracts | $ | (3,914 | ) | Net sales | $ | 336 | Net sales | $ | — | |||||||
Cost of sales | $ | 870 | Cost of sales | $ | — | |||||||||||
Commodity Contracts | $ | 1,891 | Cost of sales | $ | (5,639 | ) | Cost of sales | $ | (35 | ) | ||||||
Location of Gain or | Gain or (Loss) | |||||||||||||||
(Loss) Recognized in | Recognized | |||||||||||||||
Income | ||||||||||||||||
Statement | ||||||||||||||||
Derivatives not designated | ||||||||||||||||
as hedging instruments: | ||||||||||||||||
Foreign Exchange Contracts | Cost of sales | $ | 1,414 | |||||||||||||
Selling, general | $ | 40 | ||||||||||||||
and administrative | ||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Assets and Liabilities Measured on Recurring Basis | ' | |||||||||||||||
The following tables set forth information regarding the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis: | ||||||||||||||||
Description | 31-Dec-13 | Level 1 | Level 2 | Level 3 | ||||||||||||
Hedge derivatives, net: | ||||||||||||||||
Commodity contracts | $ | (330 | ) | $ | — | $ | (330 | ) | $ | — | ||||||
Foreign exchange contracts | (97 | ) | — | (97 | ) | — | ||||||||||
Non-hedge derivatives, net: | ||||||||||||||||
Foreign exchange contracts | 415 | — | 415 | — | ||||||||||||
Deferred compensation plan assets | 859 | 859 | — | — | ||||||||||||
Postretirement benefit plan assets: | ||||||||||||||||
Mutual funds(a) | 789,863 | 139,657 | 650,206 | — | ||||||||||||
Fixed income securities(b) | 358,643 | — | 358,643 | — | ||||||||||||
Common stocks | 64,182 | 64,182 | — | — | ||||||||||||
Short-term investments(c) | 15,825 | 12,673 | 3,152 | — | ||||||||||||
Hedge fund of funds(d) | 78,389 | — | 78,389 | — | ||||||||||||
Real estate funds(e) | 45,169 | — | 45,169 | — | ||||||||||||
Cash and accrued income | 2,427 | 2,427 | — | — | ||||||||||||
Forward contracts | (67 | ) | — | (67 | ) | — | ||||||||||
Total postretirement benefit plan assets | $ | 1,354,431 | $ | 218,939 | $ | 1,135,492 | $ | — | ||||||||
Description | 31-Dec-12 | Level 1 | Level 2 | Level 3 | ||||||||||||
Hedge derivatives, net: | ||||||||||||||||
Commodity contracts | $ | (6,286 | ) | $ | — | $ | (6,286 | ) | $ | — | ||||||
Foreign exchange contracts | (4,483 | ) | — | (4,483 | ) | — | ||||||||||
Non-hedge derivatives, net: | ||||||||||||||||
Foreign exchange contracts | 708 | — | 708 | — | ||||||||||||
Deferred compensation plan assets | 2,585 | 2,585 | — | — | ||||||||||||
Postretirement benefit plan assets: | ||||||||||||||||
Mutual funds(a) | 871,988 | 62,274 | 809,714 | — | ||||||||||||
Fixed income securities(b) | 226,828 | — | 226,828 | — | ||||||||||||
Common stocks | 61,756 | 61,756 | — | — | ||||||||||||
Short-term investments(c) | 8,857 | 3,834 | 5,023 | — | ||||||||||||
Hedge fund of funds(d) | 71,685 | — | 71,685 | — | ||||||||||||
Real estate funds(e) | 45,892 | — | 45,892 | — | ||||||||||||
Cash and accrued income | 2,048 | 2,048 | — | — | ||||||||||||
Forward contracts | (485 | ) | — | (485 | ) | — | ||||||||||
Total postretirement benefit plan assets | $ | 1,288,569 | $ | 129,912 | $ | 1,158,657 | $ | — | ||||||||
(a) | Mutual fund investments are comprised predominantly of equity securities of U.S. corporations with large capitalizations and also include funds invested in corporate equities in international and emerging markets and funds invested in long-term bonds. | |||||||||||||||
(b) | Fixed income securities include funds that invest primarily in U.S. Treasuries and long-term bonds. | |||||||||||||||
(c) | This category includes several money market funds used for managing overall liquidity. | |||||||||||||||
(d) | This category includes investments in a number of funds representing a variety of strategies intended to diversify risks and reduce volatility. It includes event-driven credit and equity investments targeted at economic policy decisions, long and short positions in U.S. and international equities, arbitrage investments and emerging market equity investments. | |||||||||||||||
(e) | This category includes investments in real estate funds (including office, industrial, residential and retail) primarily throughout the United States. |
Sharebased_Compensation_Plans_
Share-based Compensation Plans (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Estimated Fair Values of all SARs Applying Assumptions | ' | ||||||||||||
The Company computed the estimated fair values of all SARs using the Black-Scholes option-pricing model applying the assumptions set forth in the following table: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected dividend yield | 3.9 | % | 3.5 | % | 3.1 | % | |||||||
Expected stock price volatility | 24.7 | % | 32.3 | % | 33.8 | % | |||||||
Risk-free interest rate | 0.6 | % | 0.6 | % | 2.1 | % | |||||||
Expected life of SARs | 4 years | 4 years | 4 years | ||||||||||
Stock Options and SARs Outstanding and Exercisable | ' | ||||||||||||
The following tables summarize information about stock options and SARs outstanding and exercisable at December 31, 2013. At December 31, 2013, the fair market value of the Company’s stock used to calculate intrinsic value was $41.72 per share. | |||||||||||||
Options and SARs Vested and Expected to Vest | |||||||||||||
Range of | Number | Weighted- | Weighted- | Aggregate | |||||||||
Exercise Prices | Outstanding | average | average | Intrinsic | |||||||||
Remaining | Exercise | Value | |||||||||||
Contractual | Price | ||||||||||||
Life | |||||||||||||
$23.69 - $28.48 | 802,260 | 2.1 years | $26.91 | $ | 11,884 | ||||||||
$29.30 - $32.03 | 1,100,792 | 4.9 years | $31.39 | $ | 11,374 | ||||||||
$32.85 - $43.83 | 1,101,635 | 4.3 years | $34.76 | $ | 7,670 | ||||||||
$23.69 - $43.83 | 3,004,687 | 3.9 years | $31.43 | $ | 30,928 | ||||||||
Options and SARs Exercisable | |||||||||||||
Range of | Number | Weighted- | Weighted- | Aggregate | |||||||||
Exercise Prices | Exercisable | average | average | Intrinsic | |||||||||
Remaining | Exercise | Value | |||||||||||
Contractual | Price | ||||||||||||
Life | |||||||||||||
$23.69 - $28.48 | 802,260 | 2.1 years | $26.91 | $ | 11,884 | ||||||||
$29.30 - $32.03 | 262,185 | 1.1 years | $29.33 | $ | 3,248 | ||||||||
$32.85 - $43.83 | 1,101,635 | 4.3 years | $34.76 | $ | 7,670 | ||||||||
$23.69 - $43.83 | 2,166,080 | 3.1 years | $31.20 | $ | 22,802 | ||||||||
Company's Stock Options and SARs | ' | ||||||||||||
The activity related to the Company’s stock options and SARs is as follows: | |||||||||||||
Nonvested | Vested | Total | Weighted- | ||||||||||
average | |||||||||||||
Exercise | |||||||||||||
Price | |||||||||||||
Outstanding, December 31, 2012 | 726,510 | 4,324,230 | 5,050,740 | $ | 30.63 | ||||||||
Vested | (726,510 | ) | 726,510 | — | |||||||||
Granted | 852,157 | — | 852,157 | $ | 32.03 | ||||||||
Exercised | — | (2,326,215 | ) | (2,326,215 | ) | $ | 29.44 | ||||||
Forfeited/Expired | (13,550 | ) | (558,445 | ) | (571,995 | ) | $ | 33.1 | |||||
Outstanding, December 31, 2013 | 838,607 | 2,166,080 | 3,004,687 | $ | 31.43 | ||||||||
Activity Related to PCSUs and Restricted Stock Units | ' | ||||||||||||
The activity related to the PCSUs and restricted stock units is as follows: | |||||||||||||
Nonvested | Vested | Total | Average Grant | ||||||||||
Date Fair | |||||||||||||
Value Per Share | |||||||||||||
Outstanding, December 31, 2012 | 492,114 | 1,178,903 | 1,671,017 | $ | 27.83 | ||||||||
Granted | 445,098 | — | 445,098 | $ | 28.9 | ||||||||
Performance adjustments | (112,536 | ) | (4 | ) | (112,540 | ) | $ | 31.82 | |||||
Vested | (37,368 | ) | 37,368 | — | |||||||||
Converted | — | (956,802 | ) | (956,802 | ) | $ | 25.87 | ||||||
Dividend equivalents | 5,621 | 29,271 | 34,892 | $ | 36.13 | ||||||||
Outstanding, December 31, 2013 | 792,929 | 288,736 | 1,081,665 | $ | 29.85 | ||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Components of Net Periodic Benefit Cost | ' | |||||||||||||||
The components of net periodic benefit cost include the following: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Retirement Plans | ||||||||||||||||
Service cost | $ | 25,198 | $ | 23,551 | $ | 20,796 | ||||||||||
Interest cost | 67,235 | 69,928 | 70,869 | |||||||||||||
Expected return on plan assets | (86,545 | ) | (83,758 | ) | (84,015 | ) | ||||||||||
Amortization of net transition obligation | 438 | 483 | 464 | |||||||||||||
Amortization of prior service cost | 569 | 409 | 335 | |||||||||||||
Amortization of net actuarial loss | 43,776 | 37,904 | 24,911 | |||||||||||||
Effect of settlement loss | 1,947 | 70 | — | |||||||||||||
Other | — | — | 92 | |||||||||||||
Net periodic benefit cost | $ | 52,618 | $ | 48,587 | $ | 33,452 | ||||||||||
Retiree Health and Life Insurance Plans | ||||||||||||||||
Service cost | $ | 891 | $ | 820 | $ | 1,016 | ||||||||||
Interest cost | 942 | 1,120 | 1,583 | |||||||||||||
Expected return on plan assets | (1,510 | ) | (1,526 | ) | (1,446 | ) | ||||||||||
Amortization of prior service credit | (2,969 | ) | (6,491 | ) | (7,882 | ) | ||||||||||
Amortization of net actuarial loss | — | (2 | ) | 927 | ||||||||||||
Net periodic benefit income | $ | (2,646 | ) | $ | (6,079 | ) | $ | (5,802 | ) | |||||||
Plans' Obligations and Assets | ' | |||||||||||||||
The following tables set forth the Plans’ obligations and assets at December 31: | ||||||||||||||||
Retirement Plans | Retiree Health | |||||||||||||||
and | ||||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Change in Benefit Obligation | ||||||||||||||||
Benefit obligation at January 1 | $ | 1,734,556 | $ | 1,544,730 | $ | 32,581 | $ | 38,097 | ||||||||
Service cost | 25,198 | 23,551 | 891 | 820 | ||||||||||||
Interest cost | 67,235 | 69,928 | 942 | 1,120 | ||||||||||||
Plan participant contributions | 528 | 609 | 1,040 | 1,229 | ||||||||||||
Plan amendments | 1,927 | 648 | — | — | ||||||||||||
Actuarial loss/(gain) | (137,365 | ) | 163,194 | (4,349 | ) | (4,540 | ) | |||||||||
Benefits paid | (90,403 | ) | (84,150 | ) | (3,542 | ) | (4,158 | ) | ||||||||
Impact of foreign exchange rates | (836 | ) | 11,854 | (42 | ) | 13 | ||||||||||
Effect of settlements | (4,382 | ) | — | — | — | |||||||||||
Other | — | 4,192 | — | — | ||||||||||||
Benefit obligation at December 31 | $ | 1,596,458 | $ | 1,734,556 | $ | 27,521 | $ | 32,581 | ||||||||
Fair Value of Plan Assets | ' | |||||||||||||||
Retirement Plans | Retiree Health and | |||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Change in Plan Assets | ||||||||||||||||
Fair value of plan assets at January 1 | $ | 1,267,386 | $ | 1,129,042 | $ | 21,183 | $ | 20,716 | ||||||||
Actual return on plan assets | 134,229 | 152,907 | 2,795 | 2,704 | ||||||||||||
Company contributions | 31,591 | 65,362 | 1,126 | 777 | ||||||||||||
Plan participant contributions | 528 | 609 | 1,040 | 1,229 | ||||||||||||
Benefits paid | (90,403 | ) | (84,150 | ) | (3,542 | ) | (4,158 | ) | ||||||||
Impact of foreign exchange rates | (952 | ) | 9,453 | — | — | |||||||||||
Effect of settlements | (4,382 | ) | — | — | — | |||||||||||
Expenses paid | (6,063 | ) | (5,837 | ) | (105 | ) | (85 | ) | ||||||||
Fair value of plan assets at December 31 | $ | 1,331,934 | $ | 1,267,386 | $ | 22,497 | $ | 21,183 | ||||||||
Funded Status of the Plans | $ | (264,524 | ) | $ | (467,170 | ) | $ | (5,024 | ) | $ | (11,398 | ) | ||||
Recognized Amounts in Consolidated Balance Sheets | ' | |||||||||||||||
Retirement Plans | Retiree Health and | |||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Total Recognized Amounts in the Consolidated Balance Sheets | ||||||||||||||||
Noncurrent assets | $ | 7,374 | $ | — | $ | — | $ | — | ||||||||
Current liabilities | (13,034 | ) | (16,068 | ) | (801 | ) | (1,250 | ) | ||||||||
Noncurrent liabilities | (258,864 | ) | (451,102 | ) | (4,223 | ) | (10,148 | ) | ||||||||
Net liability | $ | (264,524 | ) | $ | (467,170 | ) | $ | (5,024 | ) | $ | (11,398 | ) | ||||
Component of Net Periodic Pension Cost that are Included in Accumulated Other Comprehensive Loss (Income) | ' | |||||||||||||||
Items not yet recognized as a component of net periodic pension cost that are included in Accumulated Other Comprehensive Loss (Income) as of December 31, 2013 and 2012, are as follows: | ||||||||||||||||
Retirement Plans | Retiree Health and | |||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Net actuarial loss | $ | 518,275 | $ | 742,579 | $ | (3,178 | ) | $ | 2,349 | |||||||
Prior service cost/(credit) | 3,991 | 2,658 | (1,438 | ) | (4,407 | ) | ||||||||||
Net transition obligation | 470 | 975 | — | — | ||||||||||||
$ | 522,736 | $ | 746,212 | $ | (4,616 | ) | $ | (2,058 | ) | |||||||
Amounts Recognized in Other Comprehensive Loss/(Income) | ' | |||||||||||||||
The amounts recognized in Other Comprehensive Loss/(Income) during December 31, 2013 and 2012 include the following: | ||||||||||||||||
Retirement Plans | Retiree Health and | |||||||||||||||
Life Insurance Plans | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Adjustments arising during the period: | ||||||||||||||||
Net actuarial loss/(gain) | $ | (178,648 | ) | $ | 100,349 | $ | (5,527 | ) | $ | (5,633 | ) | |||||
Prior service cost/(credit) | 1,902 | 649 | — | — | ||||||||||||
Net settlements/curtailments | (1,947 | ) | — | — | — | |||||||||||
Reversal of amortization: | ||||||||||||||||
Net actuarial loss | (43,776 | ) | (37,904 | ) | — | 2 | ||||||||||
Prior service cost/(credit) | (569 | ) | (409 | ) | 2,969 | 6,491 | ||||||||||
Net transition obligation | (438 | ) | (483 | ) | — | — | ||||||||||
Total recognized in other comprehensive loss/(income) | $ | (223,476 | ) | $ | 62,202 | $ | (2,558 | ) | $ | 860 | ||||||
Total recognized in net periodic benefit cost and other comprehensive loss/(income) | $ | (170,858 | ) | $ | 110,789 | $ | (5,204 | ) | $ | (5,219 | ) | |||||
Accumulated Other Comprehensive Loss/(Income) Expects to Recognize as Components of Net Periodic Benefit Cost | ' | |||||||||||||||
Of the amounts included in Accumulated Other Comprehensive Loss/(Income) as of December 31, 2013, the portions the Company expects to recognize as components of net periodic benefit cost in 2013 are as follows: | ||||||||||||||||
Retirement | Retiree Health and | |||||||||||||||
Plans | Life Insurance Plans | |||||||||||||||
Net actuarial loss | $ | 25,726 | $ | (100 | ) | |||||||||||
Prior service cost/(credit) | 673 | (1,384 | ) | |||||||||||||
Net transition obligation | 424 | — | ||||||||||||||
$ | 26,823 | $ | (1,484 | ) | ||||||||||||
Company's Projected Benefit Payments | ' | |||||||||||||||
The following table sets forth the Company’s projected benefit payments for the next ten years: | ||||||||||||||||
Year | Retirement Plans | Retiree Health and | ||||||||||||||
Life Insurance Plans | ||||||||||||||||
2014 | $ | 85,789 | $ | 2,845 | ||||||||||||
2015 | $ | 86,449 | $ | 3,014 | ||||||||||||
2016 | $ | 84,736 | $ | 2,987 | ||||||||||||
2017 | $ | 87,218 | $ | 2,885 | ||||||||||||
2018 | $ | 89,752 | $ | 2,759 | ||||||||||||
2019-2023 | $ | 484,517 | $ | 10,858 | ||||||||||||
Major Actuarial Assumptions Used in Determining PBO, ABO and Net Periodic Cost | ' | |||||||||||||||
The following tables set forth the major actuarial assumptions used in determining the PBO, ABO and net periodic cost: | ||||||||||||||||
Weighted-average assumptions | U.S. | U.S. Retiree | Foreign Plans | |||||||||||||
used to determine benefit | Retirement | Health and | ||||||||||||||
obligations at December 31 | Plans | Life Insurance | ||||||||||||||
Plans | ||||||||||||||||
Discount Rate | ||||||||||||||||
2013 | 4.78 | % | 4.03 | % | 3.25-4.97% | |||||||||||
2012 | 3.9 | % | 3.16 | % | 3.50-4.40% | |||||||||||
Rate of Compensation Increase | ||||||||||||||||
2013 | 3.99 | % | 3.44 | % | 2.50-4.00% | |||||||||||
2012 | 4.29 | % | 3.51 | % | 2.50-3.50% | |||||||||||
Weighted-average assumptions | U.S. | U.S. Retiree | Foreign | |||||||||||||
used to determine net periodic benefit | Retirement | Health and | Plans | |||||||||||||
cost for years ended December 31 | Plans | Life Insurance | ||||||||||||||
Plans | ||||||||||||||||
Discount Rate | ||||||||||||||||
2013 | 3.9 | % | 3.16 | % | 3.50-4.40% | |||||||||||
2012 | 4.45 | % | 3.76 | % | 4.36-5.31% | |||||||||||
2011 | 5.21 | % | 4.37 | % | 4.40-6.00% | |||||||||||
Expected Long-term Rate of Return | ||||||||||||||||
2013 | 7.65 | % | 7.42 | % | 3.50-5.75% | |||||||||||
2012 | 7.79 | % | 7.52 | % | 3.75-6.25% | |||||||||||
2011 | 7.79 | % | 8 | % | 3.75-7.40% | |||||||||||
Rate of Compensation Increase | ||||||||||||||||
2013 | 4.29 | % | 3.51 | % | 2.50-3.50% | |||||||||||
2012 | 4.63 | % | 4.15 | % | 2.50-3.50% | |||||||||||
2011 | 4.49 | % | 4.29 | % | 2.50-4.50% | |||||||||||
Health Care Cost Trend Rates Related to U.S. Plan | ' | |||||||||||||||
Health liability. Therefore, the following information relates to the U.S. plan only. | ||||||||||||||||
Healthcare Cost Trend Rate | Pre-age 65 | Post-age 65 | ||||||||||||||
2013 | 8 | % | 8 | % | ||||||||||||
2012 | 8 | % | 8.3 | % | ||||||||||||
Ultimate Trend Rate | Pre-age 65 | Post-age 65 | ||||||||||||||
2013 | 5.6 | % | 5.6 | % | ||||||||||||
2012 | 6.15 | % | 6.16 | % | ||||||||||||
Year at which the Rate Reaches | Pre-age 65 | Post-age 65 | ||||||||||||||
the Ultimate Trend Rate | ||||||||||||||||
2013 | 2045 | 2045 | ||||||||||||||
2012 | 2045 | 2045 | ||||||||||||||
Retirement Plans [Member] | ' | |||||||||||||||
Weighted-Average Asset Allocations | ' | |||||||||||||||
The following table sets forth the weighted-average asset allocations of the Company’s retirement plans at December 31, 2013 and 2012, by asset category. | ||||||||||||||||
Asset Category | U.S. | U.K. | Canada | |||||||||||||
Equity securities | 2013 | 53.2 | % | 53.9 | % | 64 | % | |||||||||
2012 | 52.1 | % | 67.3 | % | 66 | % | ||||||||||
Debt securities | 2013 | 34.5 | % | 44.8 | % | 35.4 | % | |||||||||
2012 | 36 | % | 31.9 | % | 32.7 | % | ||||||||||
Alternative | 2013 | 12 | % | — | % | — | % | |||||||||
2012 | 11.8 | % | — | % | — | % | ||||||||||
Cash and short-term investments | 2013 | 0.3 | % | 1.3 | % | 0.6 | % | |||||||||
2012 | 0.1 | % | 0.8 | % | 1.3 | % | ||||||||||
Total | 2013 | 100 | % | 100 | % | 100 | % | |||||||||
2012 | 100 | % | 100 | % | 100 | % | ||||||||||
Retiree Health and Life Insurance Plans [Member] | ' | |||||||||||||||
Weighted-Average Asset Allocations | ' | |||||||||||||||
Asset Category | 31-Dec-13 | 31-Dec-12 | ||||||||||||||
Equity securities | 59.10% | 54.60% | ||||||||||||||
Debt securities | 34.00% | 37.90% | ||||||||||||||
Alternative | 6.60% | 7.10% | ||||||||||||||
Cash | 0.30% | 0.40% | ||||||||||||||
Total | 100.00% | 100.00% |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||
Provision for Taxes on Income | ' | ||||||||||||||||||||
The provision for taxes on income for the years ended December 31 consists of the following: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Pretax income | |||||||||||||||||||||
Domestic | $ | 217,305 | $ | 202,594 | $ | 208,588 | |||||||||||||||
Foreign | 87,264 | 84,480 | 75,818 | ||||||||||||||||||
Total pretax income | $ | 304,569 | $ | 287,074 | — | $ | 284,406 | ||||||||||||||
Current | |||||||||||||||||||||
Federal | $ | 32,691 | $ | 57,424 | $ | 27,920 | |||||||||||||||
State | 2,207 | 5,891 | 5,910 | ||||||||||||||||||
Foreign | 25,089 | 22,123 | 34,794 | ||||||||||||||||||
Total current | $ | 59,987 | $ | 85,438 | $ | 68,624 | |||||||||||||||
Deferred | |||||||||||||||||||||
Federal | $ | 33,937 | $ | 13,552 | $ | 34,992 | |||||||||||||||
State | 4,080 | 6,303 | 6,249 | ||||||||||||||||||
Foreign | (1,801 | ) | (1,534 | ) | (31,442 | ) | |||||||||||||||
Total deferred | $ | 36,216 | $ | 18,321 | $ | 9,799 | |||||||||||||||
Total taxes | $ | 96,203 | $ | 103,759 | $ | 78,423 | |||||||||||||||
Deferred Tax Liabilities/(Assets) | ' | ||||||||||||||||||||
Deferred tax liabilities/(assets) are comprised of the following at December 31: | |||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||
Depreciation | $ | 117,752 | $ | 109,973 | |||||||||||||||||
Intangibles | 161,707 | 156,859 | |||||||||||||||||||
Gross deferred tax liabilities | $ | 279,459 | $ | 266,832 | |||||||||||||||||
Retiree health benefits | $ | (7,468 | ) | $ | (6,661 | ) | |||||||||||||||
Foreign loss carryforwards | (83,033 | ) | (89,115 | ) | |||||||||||||||||
U.S. Federal loss carryforwards | (19,553 | ) | (26,967 | ) | |||||||||||||||||
Capital loss carryforwards | (3,053 | ) | (3,769 | ) | |||||||||||||||||
Employee benefits | (120,551 | ) | (215,907 | ) | |||||||||||||||||
Accrued liabilities and other | (79,574 | ) | (83,336 | ) | |||||||||||||||||
Gross deferred tax assets | $ | (313,232 | ) | $ | (425,755 | ) | |||||||||||||||
Valuation allowance on deferred tax assets | $ | 60,856 | $ | 61,563 | |||||||||||||||||
Total deferred taxes, net | $ | 27,083 | $ | (97,360 | ) | ||||||||||||||||
Reconciliation of U.S. Federal Statutory Tax Rate to Actual Consolidated Tax Expense | ' | ||||||||||||||||||||
A reconciliation of the U.S. federal statutory tax rate to the actual consolidated tax expense is as follows: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Statutory tax rate | $ | 106,599 | 35 | % | $ | 100,476 | 35 | % | $ | 99,542 | 35 | % | |||||||||
State income taxes, net of federal tax benefit | 6,146 | 2 | 4,444 | 1.5 | % | 6,370 | 2.2 | % | |||||||||||||
Valuation allowance | (747 | ) | (0.2 | ) | 5,201 | 1.8 | % | (20,533 | ) | (7.2 | )% | ||||||||||
Tax examinations including change in reserve for uncertain tax positions | (1,421 | ) | (0.5 | ) | 424 | 0.1 | % | 6,313 | 2.2 | % | |||||||||||
Change in estimates related to prior years | (672 | ) | (0.2 | ) | (2,111 | ) | (0.7 | )% | (1,006 | ) | (0.4 | )% | |||||||||
Foreign earnings taxed at other than U.S. rates | (6,639 | ) | (2.1 | ) | (8,224 | ) | (2.9 | )% | (9,730 | ) | (3.4 | )% | |||||||||
U.S. taxes on dividends from foreign subsidiaries | — | — | 11,744 | 4.1 | % | — | — | % | |||||||||||||
Effect of tax rate changes enacted during the year | (915 | ) | (0.3 | ) | (1,399 | ) | (0.5 | )% | (952 | ) | (0.3 | )% | |||||||||
Deduction related to qualified production activities | (3,819 | ) | (1.3 | ) | (4,325 | ) | (1.5 | )% | (2,860 | ) | (1.0 | )% | |||||||||
Other, net | (2,329 | ) | (0.8 | ) | (2,471 | ) | (0.8 | )% | 1,279 | 0.4 | % | ||||||||||
Total taxes | $ | 96,203 | 31.6 | % | $ | 103,759 | 36.1 | % | $ | 78,423 | 27.5 | % | |||||||||
Reconciliation of Gross Amounts of Unrecognized Tax Benefits | ' | ||||||||||||||||||||
The following table sets forth the reconciliation of the gross amounts of unrecognized tax benefits at the beginning and ending of the periods indicated: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Gross Unrecognized Tax Benefits at January 1 | $ | 31,300 | $ | 32,800 | $ | 28,100 | |||||||||||||||
Increases in prior years’ unrecognized tax benefits | 1,100 | 4,300 | 600 | ||||||||||||||||||
Decreases in prior years’ unrecognized tax benefits | (1,800 | ) | (4,200 | ) | (1,600 | ) | |||||||||||||||
Increases in current year's unrecognized tax benefits | 4,100 | 4,300 | 11,200 | ||||||||||||||||||
Decreases in unrecognized tax benefits from the lapse of statutes of limitations | (5,300 | ) | (4,700 | ) | (4,500 | ) | |||||||||||||||
Settlements | (600 | ) | (1,200 | ) | (1,000 | ) | |||||||||||||||
Gross Unrecognized Tax Benefits at December 31 | $ | 28,800 | $ | 31,300 | $ | 32,800 | |||||||||||||||
Shareholders_Equity_and_Earnin1
Shareholders' Equity and Earnings per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Text Block [Abstract] | ' | |||||||||||
Earnings Per Share | ' | |||||||||||
The following table sets forth the computation of basic and diluted earnings per share: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Numerator: | ||||||||||||
Net income attributable to Sonoco | $ | 219,113 | $ | 196,010 | $ | 217,517 | ||||||
Denominator: | ||||||||||||
Weighted average common shares outstanding | 102,577,000 | 101,804,000 | 101,071,000 | |||||||||
Dilutive effect of stock-based compensation | 671,000 | 769,000 | 1,102,000 | |||||||||
Diluted outstanding shares | 103,248,000 | 102,573,000 | 102,173,000 | |||||||||
Per common share: | ||||||||||||
Net income attributable to Sonoco: | ||||||||||||
Basic | $ | 2.14 | $ | 1.93 | $ | 2.15 | ||||||
Diluted | $ | 2.12 | $ | 1.91 | $ | 2.13 | ||||||
Shares Not Included in Computations of Diluted Income Per Share | ' | |||||||||||
in the computation of diluted income per share was as follows for the years ended December 31, 2013, 2012 and 2011: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Anti-dilutive stock appreciation rights | 1,100,233 | 2,440,270 | 1,753,451 | |||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||||||||||
Financial Segment Information | ' | |||||||||||||||||||||||
Years ended December 31 | ||||||||||||||||||||||||
Consumer | Display and Packaging | Paper and | Protective | Corporate | Consolidated | |||||||||||||||||||
Packaging | Industrial | Solutions | ||||||||||||||||||||||
Converted | ||||||||||||||||||||||||
Products | ||||||||||||||||||||||||
Total Revenue | ||||||||||||||||||||||||
2013 | $ | 1,898,690 | $ | 626,976 | $ | 1,958,762 | $ | 473,278 | $ | — | $ | 4,957,706 | ||||||||||||
2012 | 1,920,114 | 583,435 | 1,937,523 | 453,626 | — | 4,894,698 | ||||||||||||||||||
2011 | 1,982,989 | 487,621 | 1,996,221 | 144,251 | — | 4,611,082 | ||||||||||||||||||
Intersegment Sales1 | ||||||||||||||||||||||||
2013 | $ | 5,157 | $ | 1,968 | $ | 99,882 | $ | 2,607 | $ | — | $ | 109,614 | ||||||||||||
2012 | 7,493 | 2,253 | 96,696 | 2,127 | — | 108,569 | ||||||||||||||||||
2011 | 5,691 | 1,491 | 104,000 | 967 | — | 112,149 | ||||||||||||||||||
Sales to Unaffiliated Customers | ||||||||||||||||||||||||
2013 | $ | 1,893,533 | $ | 625,008 | $ | 1,858,880 | $ | 470,671 | $ | — | $ | 4,848,092 | ||||||||||||
2012 | 1,912,621 | 581,182 | 1,840,827 | 451,499 | — | 4,786,129 | ||||||||||||||||||
2011 | 1,977,298 | 486,130 | 1,892,220 | 143,284 | — | 4,498,932 | ||||||||||||||||||
Income Before Income Taxes2 | ||||||||||||||||||||||||
2013 | $ | 187,130 | $ | 20,806 | $ | 138,094 | $ | 40,084 | $ | (81,545 | ) | $ | 304,569 | |||||||||||
2012 | 176,768 | 20,397 | 141,351 | 36,912 | (88,354 | ) | 287,074 | |||||||||||||||||
2011 | 191,475 | 21,606 | 138,207 | 15,355 | (82,237 | ) | 284,406 | |||||||||||||||||
Identifiable Assets3 | ||||||||||||||||||||||||
2013 | $ | 1,282,726 | $ | 518,975 | $ | 1,290,353 | $ | 552,121 | $ | 335,116 | $ | 3,979,291 | ||||||||||||
2012 | 1,298,381 | 503,172 | 1,316,606 | 566,608 | 491,298 | 4,176,065 | ||||||||||||||||||
2011 | 1,357,691 | 477,001 | 1,294,712 | 572,719 | 290,676 | 3,992,799 | ||||||||||||||||||
Depreciation, Depletion and Amortization4 | ||||||||||||||||||||||||
2013 | $ | 74,127 | $ | 18,049 | $ | 82,392 | $ | 23,103 | $ | — | $ | 197,671 | ||||||||||||
2012 | 75,556 | 15,753 | 83,329 | 25,765 | — | 200,403 | ||||||||||||||||||
2011 | 80,257 | 8,239 | 86,559 | 4,816 | — | 179,871 | ||||||||||||||||||
Capital Expenditures | ||||||||||||||||||||||||
2013 | $ | 48,770 | $ | 7,422 | $ | 88,556 | $ | 15,908 | $ | 11,786 | $ | 172,442 | ||||||||||||
2012 | 58,284 | 9,170 | 112,298 | 8,889 | 26,221 | 214,862 | ||||||||||||||||||
2011 | 60,795 | 5,414 | 86,821 | 3,048 | 17,294 | 173,372 | ||||||||||||||||||
1 | Intersegment sales are recorded at a market-related transfer price. | |||||||||||||||||||||||
2 | Included in Corporate are restructuring, asset impairment charges, acquisition-related charges and insurance settlement gains associated with the following segments: | |||||||||||||||||||||||
Restructuring Asset Impairment and Acquisition Related Costs | ' | |||||||||||||||||||||||
Consumer | Display | Paper and | Protective | Corporate | Total | |||||||||||||||||||
Packaging | and | Industrial | Solutions | |||||||||||||||||||||
Packaging | Converted | |||||||||||||||||||||||
Products | ||||||||||||||||||||||||
2013 | $ | 14,003 | $ | 2,326 | $ | 6,785 | $ | 1,545 | $ | 159 | $ | 24,818 | ||||||||||||
2012 | 9,638 | 2,632 | 12,787 | 2,792 | 519 | 28,368 | ||||||||||||||||||
2011 | 19,790 | 4,575 | 6,163 | 4,901 | 8,734 | 44,163 | ||||||||||||||||||
The remaining amounts reported as Corporate consist of interest expense and interest income. | ||||||||||||||||||||||||
3 | Identifiable assets are those assets used by each segment in its operations. Corporate assets consist primarily of cash and cash equivalents, investments in affiliates, headquarters facilities, deferred income taxes and prepaid expenses. | |||||||||||||||||||||||
4 | Depreciation, depletion and amortization incurred at Corporate are allocated to the reportable segments. | |||||||||||||||||||||||
Sales to Unaffiliated Customers and Long-Lived Assets by Geographic Region | ' | |||||||||||||||||||||||
Sales to unaffiliated customers and long-lived assets by geographic region are as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Sales to Unaffiliated Customers | ||||||||||||||||||||||||
United States | $ | 3,231,135 | $ | 3,165,772 | $ | 2,821,043 | ||||||||||||||||||
Europe | 751,806 | 768,667 | 777,200 | |||||||||||||||||||||
Canada | 299,243 | 338,657 | 385,805 | |||||||||||||||||||||
All other | 565,908 | 513,033 | 514,884 | |||||||||||||||||||||
Total | $ | 4,848,092 | $ | 4,786,129 | $ | 4,498,932 | ||||||||||||||||||
Long-lived Assets | ||||||||||||||||||||||||
United States | $ | 1,878,728 | $ | 1,910,824 | $ | 1,884,897 | ||||||||||||||||||
Europe | 288,407 | 275,884 | 279,969 | |||||||||||||||||||||
Canada | 205,095 | 229,129 | 253,057 | |||||||||||||||||||||
All other | 109,010 | 117,071 | 113,777 | |||||||||||||||||||||
Total | $ | 2,481,240 | $ | 2,532,908 | $ | 2,531,700 | ||||||||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Accumulated Other Comprehensive Income Loss and Changes in Accumulated Other Comprehensive Loss, Net of Tax | ' | |||||||||||||||
The following table summarizes the components of accumulated other comprehensive loss and the changes in accumulated other comprehensive loss, net of tax as applicable, for the years ended December 31, 2013 and 2012: | ||||||||||||||||
Foreign | Defined | Gains and Losses on Cash Flow Hedges | Accumulated | |||||||||||||
Currency | Benefit | Other | ||||||||||||||
Items | Pension Items | Comprehensive | ||||||||||||||
Loss | ||||||||||||||||
Balance at December 31, 2011 | $ | (21,277 | ) | $ | (430,835 | ) | $ | (8,187 | ) | $ | (460,299 | ) | ||||
Other comprehensive income/(loss) before reclassifications | 24,511 | (61,809 | ) | (1,200 | ) | (38,498 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive loss to net income | — | 20,311 | 2,634 | 22,945 | ||||||||||||
Amounts reclassified from accumulated other comprehensive loss to fixed assets | — | — | 26 | 26 | ||||||||||||
Other comprehensive income/(loss) | 24,511 | (41,498 | ) | 1,460 | (15,527 | ) | ||||||||||
Balance at December 31, 2012 | $ | 3,234 | $ | (472,333 | ) | $ | (6,727 | ) | $ | (475,826 | ) | |||||
Other comprehensive income/(loss) before reclassifications | (28,386 | ) | 111,269 | 3,992 | 86,875 | |||||||||||
Amounts reclassified from accumulated other comprehensive loss to net income | — | 27,958 | 2,392 | 30,350 | ||||||||||||
Amounts reclassified from accumulated other comprehensive loss to fixed assets | — | — | 81 | 81 | ||||||||||||
Other comprehensive income/(loss) | (28,386 | ) | 139,227 | 6,465 | 117,306 | |||||||||||
Balance at December 31, 2013 | $ | (25,152 | ) | $ | (333,106 | ) | $ | (262 | ) | $ | (358,520 | ) | ||||
Reclassification out of Accumulated Other Comprehensive Income | ' | |||||||||||||||
Amount Reclassified from Accumulated Other Comprehensive Loss | ||||||||||||||||
Details about Accumulated Other Comprehensive Loss Components | Twelve Months Ended December 31, 2013 | Twelve Months Ended December 31, 2012 | Affected Line Item in the Consolidated Statements of Net Income | |||||||||||||
Gains and losses on cash flow hedges | ||||||||||||||||
Foreign exchange contracts | $ | 4,603 | $ | 336 | Net Sales | |||||||||||
Foreign exchange contracts | (2,996 | ) | 870 | Cost of sales | ||||||||||||
Commodity contracts | (5,455 | ) | (5,639 | ) | Cost of sales | |||||||||||
(3,848 | ) | (4,433 | ) | Total before tax | ||||||||||||
1,456 | 1,799 | Tax benefit | ||||||||||||||
$ | (2,392 | ) | $ | (2,634 | ) | Net of tax | ||||||||||
Defined benefit pension items | ||||||||||||||||
Amortization of defined benefit pension items | $ | (32,821 | ) | $ | (24,227 | ) | Cost of sales | |||||||||
Amortization of defined benefit pension items | (10,940 | ) | (8,076 | ) | Selling, general, and administrative | |||||||||||
(43,761 | ) | (32,303 | ) | Total before tax | ||||||||||||
15,803 | 11,992 | Tax benefit | ||||||||||||||
(27,958 | ) | (20,311 | ) | Net of tax | ||||||||||||
Total reclassifications for the period | $ | (30,350 | ) | $ | (22,945 | ) | Net of tax | |||||||||
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Text Block [Abstract] | ' | |||||||||||||||
Selected Quarterly Financial Data | ' | |||||||||||||||
The following table sets forth selected quarterly financial data of the Company: | ||||||||||||||||
(unaudited) | First | Second | Third | Fourth | ||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
2013 | ||||||||||||||||
Net sales | $ | 1,179,213 | $ | 1,226,256 | $ | 1,227,749 | $ | 1,214,874 | ||||||||
Gross profit | 205,716 | 222,564 | 224,037 | 221,187 | ||||||||||||
Restructuring/Asset impairment charges | (4,289 | ) | (8,678 | ) | (5,818 | ) | (6,253 | ) | ||||||||
Net income attributable to Sonoco | 48,139 | 54,988 | 61,240 | 54,746 | ||||||||||||
Per common share: | ||||||||||||||||
Net income attributable to Sonoco: | ||||||||||||||||
- basic | $ | 0.47 | $ | 0.54 | $ | 0.6 | $ | 0.53 | ||||||||
- diluted | 0.47 | 0.53 | 0.59 | 0.53 | ||||||||||||
Cash dividends | ||||||||||||||||
- common | 0.3 | 0.31 | 0.31 | 0.31 | ||||||||||||
Market price | ||||||||||||||||
- high | 35.05 | 35.93 | 39.8 | 41.82 | ||||||||||||
- low | 29.75 | 32.03 | 34.65 | 37.85 | ||||||||||||
2012 | ||||||||||||||||
Net sales | $ | 1,212,370 | $ | 1,202,359 | $ | 1,195,530 | $ | 1,175,870 | ||||||||
Gross profit | 216,861 | 216,542 | 206,229 | 204,000 | ||||||||||||
Restructuring/Asset impairment charges | (15,212 | ) | (9,396 | ) | 444 | (8,694 | ) | |||||||||
Net income attributable to Sonoco | 43,068 | 51,323 | 58,836 | 42,783 | ||||||||||||
Per common share: | ||||||||||||||||
Net income attributable to Sonoco: | ||||||||||||||||
- basic | $ | 0.42 | $ | 0.5 | $ | 0.58 | $ | 0.42 | ||||||||
- diluted | 0.42 | 0.5 | 0.57 | 0.42 | ||||||||||||
Cash dividends | ||||||||||||||||
- common | 0.29 | 0.3 | 0.3 | 0.3 | ||||||||||||
Market price | ||||||||||||||||
- high | 34.83 | 33.91 | 31.67 | 32.51 | ||||||||||||
- low | 31.02 | 29.57 | 28.61 | 29 | ||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Carrying value of equity investments | $116,193 | $110,687 | ' |
Trade accounts receivable balances | 'Trade accounts receivable balances that are more than 180 days past due are generally 100% provided for in the allowance for doubtful accounts. | ' | ' |
Single customer percentage of receivable | 5.00% | 8.00% | ' |
Largest customer revenue percentage | 7.00% | 9.00% | 9.00% |
Second largest customer revenue percentage | 5.00% | ' | ' |
Research and development costs | 20,100 | 20,200 | 18,800 |
Percentage of LIFO Inventory | 17.00% | 19.00% | ' |
LIFO inventory amount | $18,146 | $19,476 | ' |
Minimum [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Intangible assets, useful life | '3 years | ' | ' |
Minimum [Member] | Equipment [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property Plant and Equipment, useful life | '3 years | ' | ' |
Minimum [Member] | Buildings [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property Plant and Equipment, useful life | '15 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Intangible assets, useful life | '40 years | ' | ' |
Maximum [Member] | Equipment [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property Plant and Equipment, useful life | '11 years | ' | ' |
Maximum [Member] | Buildings [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Property Plant and Equipment, useful life | '40 years | ' | ' |
Chilean tube [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Percentage ownership of investments accounted for under the cost method | 19.50% | ' | ' |
Finland Small Recycling Business [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Percentage ownership of investments accounted for under the cost method | 12.19% | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Company Held Significant Investment (Detail) | Dec. 31, 2013 |
RTS Packaging JVCO [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Ownership Interest Percentage | 35.00% |
Cascades Conversion, Inc. [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Ownership Interest Percentage | 50.00% |
Cascades Sonoco, Inc. [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Ownership Interest Percentage | 50.00% |
Showa Products Company Ltd. [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Ownership Interest Percentage | 20.00% |
Conitex Sonoco Holding BVI Ltd. [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Ownership Interest Percentage | 30.00% |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 08, 2011 | Feb. 29, 2012 | Dec. 31, 2011 | Nov. 08, 2011 | Nov. 08, 2011 | Nov. 08, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
Acquisition | Acquisition | New Zealand and Australia [Member] | U.K. [Member] | South Carolina [Member] | Imagelinx [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Tegrant Holding Corporation [Member] | Tegrant Holding Corporation [Member] | Tegrant Holding Corporation [Member] | Tegrant Holding Corporation [Member] | Tegrant Holding Corporation [Member] | Tegrant Holding Corporation [Member] | Associated Packaging Technologies [Member] | Consumer Packaging [Member] | Consumer Packaging [Member] | Paper And Industrial Converted Products [Member] | Other assets [Member] | ||
Unit | Customer relationships [Member] | Trade names [Member] | Proprietary technology [Member] | ||||||||||||||||
facility | |||||||||||||||||||
Employees | |||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net tangible assets | ' | ' | ' | ' | ' | ' | $2,228 | $909 | ' | ' | ' | ' | ' | ' | $6,606 | ' | ' | ' | ' |
Number of acquisitions during period | 3 | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition cost of entity | 4,005 | ' | 566,908 | 7,181 | 4,698 | 5,029 | 3,024 | 981 | 550,000 | 503 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum number of manufacturing, design and testing facilities operated by Tegrant, headquartered in DeKalb, Illinois | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum number of employees in facilities operated by Tegrant, headquartered in DeKalb, Illinois | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of strategic, complementary business units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' |
Expected value of goodwill to be tax deductible | ' | ' | ' | ' | ' | ' | ' | ' | 67,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average expected life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 years | '40 years | '9 years | ' | ' | ' | ' | ' |
Other intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 187,830 | ' | ' | ' | ' | ' | 4,062 | ' | ' | ' | ' |
Goodwill | 1,099,207 | 1,110,505 | ' | ' | ' | ' | 796 | ' | 269,953 | ' | ' | ' | ' | ' | 6,240 | 418,765 | 427,575 | ' | ' |
Intangibles acquired | ' | ' | ' | ' | ' | ' | ' | 72 | 187,830 | ' | ' | 160,300 | 17,600 | 9,930 | ' | ' | ' | ' | ' |
Expected annual revenue | 12,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | 2,500 | ' |
Carrying value of equity investments | 116,193 | 110,687 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,628 |
Acquisition-related costs | $484 | $311 | $12,290 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Summary_of_Initia
Acquisitions - Summary of Initial Fair Value of Assets Acquired and Liabilities Assumed at Acquisition Date (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 08, 2011 |
In Thousands, unless otherwise specified | Tegrant Holding Corporation [Member] | ||
Business Acquisition Actual Revenue And Pre Tax Income Loss [Line Items] | ' | ' | ' |
Intangibles acquired | ' | ' | $187,830 |
Trade accounts receivable | ' | ' | 61,969 |
Inventories | ' | ' | 38,036 |
Prepaid expenses | ' | ' | 1,136 |
Property, plant and equipment | ' | ' | 92,748 |
Goodwill | 1,099,207 | 1,110,505 | 269,953 |
Other intangible assets | ' | ' | 187,830 |
Payables to suppliers | ' | ' | -31,154 |
Accrued expenses and other | ' | ' | -41,506 |
Total debt | ' | ' | -3,966 |
Deferred income taxes, net | ' | ' | -14,695 |
Other long-term liabilities | ' | ' | -9,848 |
Total net assets | ' | ' | $550,503 |
Restructuring_and_Asset_Impair2
Restructuring and Asset Impairment - Total Restructuring and Asset Impairment Charges Net (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Apr. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring/Asset impairment charges | ($6,253) | ($5,818) | ($8,678) | ($4,289) | ($8,694) | $444 | ($9,396) | ($15,212) | $25,038 | $32,858 | $36,826 |
Income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -6,774 | -9,836 | -11,506 |
Equity method investments, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 22 | 17 |
Impact of noncontrolling interests, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 116 | 200 |
Total impact of restructuring/asset impairment charges, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 18,266 | 23,160 | 25,537 |
2013 Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring/Asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 18,821 | ' | ' |
2012 Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring/Asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 2,337 | 24,681 | ' |
2011 and Earlier Actions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring/Asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | $3,880 | $8,177 | $36,826 |
Restructuring_and_Asset_Impair3
Restructuring and Asset Impairment - Additional Information (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Restructuring Cost and Reserve [Line Items] | ' |
Future additional charges expected in connection with previous restructuring | $2,900 |
2013 Actions [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Elimination of Positions due to realign in cost structure | 120 |
2013 Actions [Member] | Consumer Packaging [Member] | IRELAND | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Other asset impairments | 5,655 |
Impairment of long-lived assets to be disposed of | 3,590 |
Inventory Write-down | 667 |
Impairment of intangible assets | 1,398 |
2012 Actions [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Elimination of Positions due to realign in cost structure | 165 |
2011 and Earlier Actions [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Future pretax charges | 950 |
Small Corrugated Box Business [Member] | 2013 Actions [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Gain (loss) from the sale of business | -286 |
Proceeds from the sale of business | 6,200 |
Annual sales of business sold | 13,000 |
Fixed assets net written off in connection with sale of business | 773 |
Working capital written off in connection with sale of business | 1,275 |
Goodwill written off in connection with sale of business | 2,430 |
Intangible assets net written off in connection with sale of business | $2,008 |
Restructuring_and_Asset_Impair4
Restructuring and Asset Impairment - Actions and Related Expenses by Type Incurred and Estimated for Given Years (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
2013 Actions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | $18,821 | ' | ' |
Estimated total cost | 20,671 | ' | ' |
2012 Actions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 2,337 | 24,681 | ' |
Total incurred to date | 27,018 | ' | ' |
Estimated total cost | 27,368 | ' | ' |
2011 and Earlier Actions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 3,880 | 8,177 | 36,826 |
Severance and Termination Benefits [Member] | 2013 Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 4,910 | ' | ' |
Estimated total cost | 5,610 | ' | ' |
Severance and Termination Benefits [Member] | 2013 Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 1,404 | ' | ' |
Estimated total cost | 1,654 | ' | ' |
Severance and Termination Benefits [Member] | 2013 Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 3,347 | ' | ' |
Estimated total cost | 3,397 | ' | ' |
Severance and Termination Benefits [Member] | 2013 Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 216 | ' | ' |
Estimated total cost | 216 | ' | ' |
Severance and Termination Benefits [Member] | 2012 Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 239 | 2,571 | ' |
Total incurred to date | 2,810 | ' | ' |
Estimated total cost | 2,810 | ' | ' |
Severance and Termination Benefits [Member] | 2012 Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | -3 | 1,897 | ' |
Total incurred to date | 1,894 | ' | ' |
Estimated total cost | 1,894 | ' | ' |
Severance and Termination Benefits [Member] | 2012 Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 384 | 10,329 | ' |
Total incurred to date | 10,713 | ' | ' |
Estimated total cost | 10,713 | ' | ' |
Severance and Termination Benefits [Member] | 2012 Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 67 | 999 | ' |
Total incurred to date | 1,066 | ' | ' |
Estimated total cost | 1,066 | ' | ' |
Severance and Termination Benefits [Member] | 2012 Actions [Member] | Corporate [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 0 | 297 | ' |
Total incurred to date | 297 | ' | ' |
Estimated total cost | 297 | ' | ' |
Severance and Termination Benefits [Member] | 2011 and Earlier Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 17 | 3,348 | 7,144 |
Severance and Termination Benefits [Member] | 2011 and Earlier Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | ' | 346 | 842 |
Severance and Termination Benefits [Member] | 2011 and Earlier Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 474 | 331 | 9,673 |
Severance and Termination Benefits [Member] | 2011 and Earlier Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | ' | 280 | 1,109 |
Severance and Termination Benefits [Member] | 2011 and Earlier Actions [Member] | Corporate [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | ' | 0 | 11 |
Asset Impairment / Disposal of Assets [Member] | 2013 Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 5,926 | ' | ' |
Estimated total cost | 5,926 | ' | ' |
Asset Impairment / Disposal of Assets [Member] | 2013 Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 165 | ' | ' |
Estimated total cost | 165 | ' | ' |
Asset Impairment / Disposal of Assets [Member] | 2013 Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 492 | ' | ' |
Estimated total cost | 492 | ' | ' |
Asset Impairment / Disposal of Assets [Member] | 2013 Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 662 | ' | ' |
Estimated total cost | 662 | ' | ' |
Asset Impairment / Disposal of Assets [Member] | 2012 Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 154 | 2,921 | ' |
Total incurred to date | 3,075 | ' | ' |
Estimated total cost | 3,075 | ' | ' |
Asset Impairment / Disposal of Assets [Member] | 2012 Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 0 | 0 | ' |
Total incurred to date | 0 | ' | ' |
Estimated total cost | 0 | ' | ' |
Asset Impairment / Disposal of Assets [Member] | 2012 Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 352 | 2,404 | ' |
Total incurred to date | 2,756 | ' | ' |
Estimated total cost | 2,756 | ' | ' |
Asset Impairment / Disposal of Assets [Member] | 2012 Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | -28 | 161 | ' |
Total incurred to date | 133 | ' | ' |
Estimated total cost | 133 | ' | ' |
Asset Impairment / Disposal of Assets [Member] | 2011 and Earlier Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | -438 | -3,586 | 10,202 |
Asset Impairment / Disposal of Assets [Member] | 2011 and Earlier Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 0 | -791 | 3,057 |
Asset Impairment / Disposal of Assets [Member] | 2011 and Earlier Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | -451 | -1,735 | -807 |
Asset Impairment / Disposal of Assets [Member] | 2011 and Earlier Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 589 | 0 | 65 |
Other Costs [Member] | 2013 Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 1,021 | ' | ' |
Estimated total cost | 1,471 | ' | ' |
Other Costs [Member] | 2013 Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 97 | ' | ' |
Estimated total cost | 297 | ' | ' |
Other Costs [Member] | 2013 Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 447 | ' | ' |
Estimated total cost | 547 | ' | ' |
Other Costs [Member] | 2013 Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 134 | ' | ' |
Estimated total cost | 234 | ' | ' |
Other Costs [Member] | 2012 Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 191 | 861 | ' |
Total incurred to date | 1,052 | ' | ' |
Estimated total cost | 1,202 | ' | ' |
Other Costs [Member] | 2012 Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 249 | 355 | ' |
Total incurred to date | 604 | ' | ' |
Estimated total cost | 604 | ' | ' |
Other Costs [Member] | 2012 Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 722 | 1,294 | ' |
Total incurred to date | 2,016 | ' | ' |
Estimated total cost | 2,216 | ' | ' |
Other Costs [Member] | 2012 Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | -24 | 592 | ' |
Total incurred to date | 568 | ' | ' |
Estimated total cost | 568 | ' | ' |
Other Costs [Member] | 2012 Actions [Member] | Corporate [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 34 | 0 | ' |
Total incurred to date | 34 | ' | ' |
Estimated total cost | 34 | ' | ' |
Other Costs [Member] | 2011 and Earlier Actions [Member] | Consumer Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 2,183 | 4,081 | 1,869 |
Other Costs [Member] | 2011 and Earlier Actions [Member] | Display and Packaging [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | ' | 827 | 677 |
Other Costs [Member] | 2011 and Earlier Actions [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | 1,266 | 4,316 | 2,404 |
Other Costs [Member] | 2011 and Earlier Actions [Member] | Protective Solutions [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring charge | $240 | $760 | $580 |
Restructuring_and_Asset_Impair5
Restructuring and Asset Impairment - Restructuring Accrual Activity for Given Years (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
2013 Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | $0 | ' |
Restructuring-related charges | 18,821 | ' |
Cash receipts/(payments) | -1,774 | ' |
Asset write downs/disposals | -13,886 | ' |
Foreign currency translation | 97 | ' |
Liability, Ending Balance | 3,258 | ' |
2012 Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 6,393 | ' |
Restructuring-related charges | 2,804 | 24,681 |
Adjustments | -467 | ' |
Cash receipts/(payments) | -6,765 | -12,150 |
Asset write downs/disposals | -520 | -6,086 |
Foreign currency translation | 21 | -52 |
Liability, Ending Balance | 1,466 | 6,393 |
2011 and Earlier Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 5,229 | 14,439 |
Restructuring-related charges | 6,553 | 14,973 |
Adjustments | -2,673 | -6,796 |
Cash receipts/(payments) | -5,529 | -2,238 |
Asset write downs/disposals | -491 | -15,207 |
Foreign currency translation | -8 | 58 |
Liability, Ending Balance | 3,081 | 5,229 |
Severance and Termination Benefits [Member] | 2013 Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 0 | ' |
Restructuring-related charges | 9,877 | ' |
Cash receipts/(payments) | -6,716 | ' |
Foreign currency translation | 97 | ' |
Liability, Ending Balance | 3,258 | ' |
Severance and Termination Benefits [Member] | 2012 Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 6,313 | ' |
Restructuring-related charges | 1,085 | 16,093 |
Adjustments | -398 | ' |
Cash receipts/(payments) | -5,555 | -9,735 |
Foreign currency translation | 21 | -45 |
Liability, Ending Balance | 1,466 | 6,313 |
Severance and Termination Benefits [Member] | 2011 and Earlier Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 5,139 | 14,132 |
Restructuring-related charges | 581 | 4,493 |
Adjustments | -89 | -188 |
Cash receipts/(payments) | -2,559 | -13,356 |
Foreign currency translation | -9 | 58 |
Liability, Ending Balance | 3,063 | 5,139 |
Asset Impairment / Disposal of Assets [Member] | 2013 Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 0 | ' |
Restructuring-related charges | 7,245 | ' |
Cash receipts/(payments) | 6,641 | ' |
Asset write downs/disposals | -13,886 | ' |
Liability, Ending Balance | 0 | ' |
Asset Impairment / Disposal of Assets [Member] | 2012 Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Restructuring-related charges | 547 | 5,486 |
Adjustments | -69 | ' |
Cash receipts/(payments) | 42 | 600 |
Asset write downs/disposals | -520 | -6,086 |
Liability, Ending Balance | 0 | ' |
Asset Impairment / Disposal of Assets [Member] | 2011 and Earlier Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | ' | 0 |
Restructuring-related charges | 828 | 496 |
Adjustments | -2,572 | -6,608 |
Cash receipts/(payments) | 2,235 | 21,319 |
Asset write downs/disposals | -491 | -15,207 |
Liability, Ending Balance | 0 | ' |
Other Costs [Member] | 2013 Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 0 | ' |
Restructuring-related charges | 1,699 | ' |
Cash receipts/(payments) | -1,699 | ' |
Foreign currency translation | 0 | ' |
Liability, Ending Balance | 0 | ' |
Other Costs [Member] | 2012 Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 80 | ' |
Restructuring-related charges | 1,172 | 3,102 |
Cash receipts/(payments) | -1,252 | -3,015 |
Foreign currency translation | ' | -7 |
Liability, Ending Balance | 0 | 80 |
Other Costs [Member] | 2011 and Earlier Actions [Member] | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' |
Liability, Beginning Balance | 90 | 307 |
Restructuring-related charges | 5,144 | 9,984 |
Adjustments | -12 | 0 |
Cash receipts/(payments) | -5,205 | -10,201 |
Foreign currency translation | 1 | 0 |
Liability, Ending Balance | $18 | $90 |
Cash_and_Cash_Equivalents_Addi
Cash and Cash Equivalents - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Cash and Cash Equivalents [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $217,567 | $373,084 | $175,523 | $158,249 |
Outstanding A/P checks [member] | ' | ' | ' | ' |
Cash and Cash Equivalents [Line Items] | ' | ' | ' | ' |
Outstanding A/P Checks | 8,910 | 11,790 | ' | ' |
Outstanding payroll checks [Member] | ' | ' | ' | ' |
Cash and Cash Equivalents [Line Items] | ' | ' | ' | ' |
Outstanding A/P Checks | 501 | 446 | ' | ' |
ERROR in label resolution. | ' | ' | ' | ' |
Cash and Cash Equivalents [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents | $7,863 | $11,060 | ' | ' |
Property_Plant_and_Equipment_S
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Disclosure Property Plant And Equipment Summary Of Property Plant And Equipment [Abstract] | ' | ' |
Land | $81,905 | $78,520 |
Timber resources | 40,260 | 39,787 |
Buildings | 467,386 | 467,888 |
Machinery and equipment | 2,725,435 | 2,567,403 |
Construction in progress | 90,770 | 142,689 |
Property, plant and equipment, gross | 3,405,756 | 3,296,287 |
Accumulated depreciation and depletion | -2,383,836 | -2,261,381 |
Property, plant and equipment, net | $1,021,920 | $1,034,906 |
Property_Plant_and_Equipment_A
Property, Plant and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Property Plant And Equipment Additional Information [Abstract] | ' | ' | ' |
Estimated costs for completion of capital additions under construction | $110,000 | ' | ' |
Depreciation and depletion expense | 169,400 | 171,905 | 163,198 |
Future minimum rentals under noncancelable operating leases in 2014 | 42,200 | ' | ' |
Future minimum rentals under noncancelable operating leases in 2015 | 37,700 | ' | ' |
Future minimum rentals under noncancelable operating leases in 2016 | 28,400 | ' | ' |
Future minimum rentals under noncancelable operating leases in 2017 | 19,600 | ' | ' |
Future minimum rentals under noncancelable operating leases in 2018 | 14,300 | ' | ' |
Future minimum rentals under noncancelable operating leases, thereafter | 34,600 | ' | ' |
Total rental expense under operating leases | $68,500 | $68,200 | $58,200 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Changes in Goodwill by Segment (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Goodwill [Line Items] | ' |
Balance as of January 1, 2013 | $1,110,505 |
Goodwill on acquisitions | 796 |
Dispositions | -2,430 |
Foreign currency translation | -9,664 |
Balance as of December 31, 2013 | 1,099,207 |
Consumer Packaging [Member] | ' |
Goodwill [Line Items] | ' |
Balance as of January 1, 2013 | 427,575 |
Goodwill on acquisitions | 796 |
Dispositions | 0 |
Foreign currency translation | -9,606 |
Balance as of December 31, 2013 | 418,765 |
Display and Packaging [Member] | ' |
Goodwill [Line Items] | ' |
Balance as of January 1, 2013 | 204,629 |
Goodwill on acquisitions | 0 |
Dispositions | 0 |
Foreign currency translation | 0 |
Balance as of December 31, 2013 | 204,629 |
Paper and Industrial Converted Products [Member] | ' |
Goodwill [Line Items] | ' |
Balance as of January 1, 2013 | 254,706 |
Goodwill on acquisitions | 0 |
Dispositions | 0 |
Foreign currency translation | -58 |
Balance as of December 31, 2013 | 254,648 |
Protective Solutions [Member] | ' |
Goodwill [Line Items] | ' |
Balance as of January 1, 2013 | 223,595 |
Dispositions | -2,430 |
Foreign currency translation | 0 |
Balance as of December 31, 2013 | $221,165 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill [Line Items] | ' | ' | ' |
Forecasted period for future cash flow discounts | '10 years | ' | ' |
Goodwill | $1,099,207 | $1,110,505 | ' |
Aggregate amortization expenses | 28,271 | 28,498 | 16,673 |
Amortization expense on intangible assets in 2014 | 28,100 | ' | ' |
Amortization expense on intangible assets in 2015 | 26,600 | ' | ' |
Amortization expense on intangible assets in 2016 | 26,300 | ' | ' |
Amortization expense on intangible assets in 2017 | 25,800 | ' | ' |
Amortization expense on intangible assets in 2018 | 25,100 | ' | ' |
Packaging Services [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 197,000 | ' | ' |
Blowmolding [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 126,600 | ' | ' |
Thermoforming [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $53,200 | ' | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Intangible Assets, Gross: | ' | ' |
Other Intangible Assets, gross | $386,284 | $391,709 |
Accumulated Amortization | -142,364 | -114,900 |
Other Intangible Assets, Net | 243,920 | 276,809 |
Patents [Member] | ' | ' |
Other Intangible Assets, Gross: | ' | ' |
Other Intangible Assets, gross | 2,221 | 2,224 |
Customer lists [Member] | ' | ' |
Other Intangible Assets, Gross: | ' | ' |
Other Intangible Assets, gross | 339,911 | 345,133 |
Trade names [Member] | ' | ' |
Other Intangible Assets, Gross: | ' | ' |
Other Intangible Assets, gross | 21,232 | 21,214 |
Proprietary technology [Member] | ' | ' |
Other Intangible Assets, Gross: | ' | ' |
Other Intangible Assets, gross | 17,866 | 17,844 |
Land use rights [Member] | ' | ' |
Other Intangible Assets, Gross: | ' | ' |
Other Intangible Assets, gross | 323 | 350 |
Other [Member] | ' | ' |
Other Intangible Assets, Gross: | ' | ' |
Other Intangible Assets, gross | $4,731 | $4,944 |
Debt_Debt_Instruments_Detail
Debt - Debt Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt [Line Items] | ' | ' |
Total debt | $981,458 | $1,373,062 |
Less current portion and short-term notes | 35,201 | 273,608 |
Long-term debt | 946,257 | 1,099,454 |
5.75% debentures due November 2040 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Total debt | 604,520 | 604,688 |
4.375% debentures due November 2021 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Total debt | 249,106 | 248,991 |
9.2% debentures due August 2021 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Total debt | 4,321 | 4,321 |
5.625% debentures due November 2016 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Total debt | 75,165 | 75,129 |
6.5% debentures due November 2013 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Total debt | 0 | 118,358 |
Term loan, due November 2014 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Total debt | 0 | 135,000 |
Commercial paper, average rate of 0.37% in 2013 and 0.37% in 2012 | ' | ' |
Debt [Line Items] | ' | ' |
Commercial paper | 0 | 152,000 |
Foreign denominated debt, average rate of 4.4% in 2013 and 5.5% in 2012 | ' | ' |
Debt [Line Items] | ' | ' |
Total debt | 35,268 | 20,358 |
Other notes [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Total debt | $13,078 | $14,217 |
Debt_Debt_Instruments_Parenthe
Debt - Debt Instruments (Parenthetical) (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
5.75% debentures due November 2040 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Debt instrument, interest rate | 5.75% | ' |
4.375% debentures due November 2021 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Debt instrument, interest rate | 4.38% | ' |
9.2% debentures due August 2021 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Debt instrument, interest rate | 9.20% | ' |
5.625% debentures due November 2016 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Debt instrument, interest rate | 5.63% | ' |
6.5% debentures due November 2013 [Member] | ' | ' |
Debt [Line Items] | ' | ' |
Debt instrument, interest rate | 6.50% | ' |
Commercial paper, average rate of 0.37% in 2013 and 0.37% in 2012 | ' | ' |
Debt [Line Items] | ' | ' |
Debt, instrument, weighted average interest rate | 0.37% | 0.37% |
Foreign denominated debt, average rate of 4.4% in 2013 and 5.5% in 2012 | ' | ' |
Debt [Line Items] | ' | ' |
Debt, instrument, weighted average interest rate | 4.40% | 5.50% |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
Commercial paper [Member] | Commercial paper [Member] | Term Loan [Member] | ||
Tegrant acquisition term loan [Member] | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' |
Commercial paper program | $350,000 | ' | ' | ' |
Outstanding commercial paper | ' | 0 | 152,000 | ' |
Total repatriated amount of accumulated offshore | 260,000 | ' | ' | ' |
Repayments of Long-term Debt | ' | ' | ' | 135,000 |
Unused short-term lines of credit | 122,000 | ' | ' | ' |
Debt maturing, 2014 | 35,201 | ' | ' | ' |
Debt maturing, 2015 | 1,815 | ' | ' | ' |
Debt maturing, 2016 | 76,897 | ' | ' | ' |
Debt maturing, 2017 | 1,705 | ' | ' | ' |
Debt maturing, 2018 | $1,685 | ' | ' | ' |
Financial_Instruments_and_Deri2
Financial Instruments and Derivatives - Carrying Amounts and Fair Values of Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Disclosure Financial Instruments And Derivatives Carrying Amounts And Fair Values Of Financial Instruments [Abstract] | ' | ' |
Long-term debt, Carrying Amount | $946,257 | $1,099,454 |
Long-term debt, Fair Value | $999,247 | $1,214,292 |
Financial_Instruments_and_Deri3
Financial Instruments and Derivatives - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative [Line Items] | ' | ' |
Anticipated usage percentage of natural gas covered by a swap contract for the first succeeding fiscal year | 56.00% | ' |
Anticipated Usage Percentage Of Natural Gas Covered By Swap Contract Year Two | 28.00% | ' |
Anticipated usage percentage of aluminum covered by a swap contract for the first succeeding fiscal year | 34.00% | ' |
Fair value of commodity cash flow hedges | ($330) | ($6,286) |
Commodity gain (loss) expected to be reclassified to the income statement during the next 12 months | -689 | ' |
Fair value of foreign currency cash flow hedges | -97 | -4,483 |
Cash flow hedge gain (loss) reclassified from accumulated other comprehensive loss and netted against the carrying value of the assets | -81 | -26 |
Foreign currency gain (loss) expected to be reclassified to the income statement during the next 12 months | -119 | ' |
Total fair value of other derivatives not designated as hedging instruments | $415 | $708 |
Natural gas swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Approximate amount of commodity covered by swap contracts outstanding in MMBTUs | 6,700,000 | ' |
Aluminum Swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Approximate amount of commodity covered by swap contracts outstanding in Metric tons | 6,650,000 | ' |
Financial_Instruments_and_Deri4
Financial Instruments and Derivatives - Net Positions of Foreign Contracts (Detail) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | CAD | COP | EUR (€) | GBP (£) | MXN | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] |
AUD | CAD | COP | EUR (€) | GBP (£) | MXN | NZD | PLN | TRY | ||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Purchase / (Sales) position of foreign currency cash flow hedges | 13,894 | 17,172,892 | € 2,284 | £ 6,105 | 164,010 | -6,405 | 52,973 | 14,773,186 | -€ 7,459 | £ 4,153 | 273,681 | -3,123 | 2,651 | 6,604 |
Financial_Instruments_and_Deri5
Financial Instruments and Derivatives - Net Positions of Other Derivative Contract (Detail) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | CAD | COP | EUR (€) | GBP (£) | MXN |
Derivative [Line Items] | ' | ' | ' | ' | ' |
Net Purchase / (Sales) position of other derivatives | 13,894 | 17,172,892 | € 2,284 | £ 6,105 | 164,010 |
Financial_Instruments_and_Deri6
Financial Instruments and Derivatives - Location and Fair Values of Derivative Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives designated as hedging instruments [Member] | Commodity contracts [Member] | Prepaid expenses [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives as hedging instruments, assets | $535 | $201 |
Derivatives designated as hedging instruments [Member] | Commodity contracts [Member] | Accrued expenses and other [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives hedging instrument, liabilities | -1,228 | -4,760 |
Derivatives designated as hedging instruments [Member] | Commodity contracts [Member] | Other liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives hedging instrument, liabilities | 0 | -1,727 |
Derivatives designated as hedging instruments [Member] | Commodity contracts [Member] | Other assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives as hedging instruments, assets | 363 | 0 |
Derivatives designated as hedging instruments [Member] | Foreign exchange contracts [Member] | Prepaid expenses [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives as hedging instruments, assets | 896 | 725 |
Derivatives designated as hedging instruments [Member] | Foreign exchange contracts [Member] | Accrued expenses and other [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives hedging instrument, liabilities | -993 | -5,208 |
Derivatives not designated as hedging instruments [Member] | Foreign exchange contracts [Member] | Prepaid expenses [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives as hedging instruments, assets | 468 | 679 |
Derivatives not designated as hedging instruments [Member] | Foreign exchange contracts [Member] | Accrued expenses and other [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives hedging instrument, liabilities | -53 | -7 |
Derivatives not designated as hedging instruments [Member] | Foreign exchange contracts [Member] | Other assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivatives as hedging instruments, assets | $0 | $36 |
Financial_Instruments_and_Deri7
Financial Instruments and Derivatives - Effect of Derivative Instruments on Financial Performance (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Foreign exchange contracts [Member] | Net sales [Member] | ' | ' |
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | $5,928 | ($3,914) |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 4,603 | 336 |
Foreign exchange contracts [Member] | Cost of sales [Member] | ' | ' |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 2,996 | -870 |
Foreign exchange contracts [Member] | Cost of sales [Member] | Derivatives not designated as hedging instruments [Member] | ' | ' |
Gain or (Loss) Recognized | -235 | 1,414 |
Foreign exchange contracts [Member] | Selling, general and administrative [Member] | Derivatives not designated as hedging instruments [Member] | ' | ' |
Gain or (Loss) Recognized | -58 | 40 |
Commodity contracts [Member] | Cost of sales [Member] | ' | ' |
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) | 488 | 1,891 |
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | 5,455 | 5,639 |
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) | $13 | ($35) |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ||
Deferred Compensation Plan Assets | $859 | $2,585 | ||
Total Postretirement Benefit Plan Assets | 1,354,431 | 1,288,569 | ||
Mutual funds [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 789,863 | [1] | 871,988 | [1] |
Fixed income securities [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 358,643 | [2] | 226,828 | [2] |
Common stocks [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 64,182 | 61,756 | ||
Short-term investments [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 15,825 | [3] | 8,857 | [3] |
Hedge fund of funds [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 78,389 | [4] | 71,685 | [4] |
Real estate funds [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 45,169 | [5] | 45,892 | [5] |
Cash and accrued income [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 2,427 | 2,048 | ||
Forward contracts [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | -67 | -485 | ||
Derivatives designated as hedging instruments [Member] | Commodity contracts [Member] | ' | ' | ||
Assets | ' | ' | ||
Derivatives | -330 | -6,286 | ||
Derivatives designated as hedging instruments [Member] | Foreign exchange contracts [Member] | ' | ' | ||
Assets | ' | ' | ||
Derivatives | -97 | -4,483 | ||
Derivatives not designated as hedging instruments [Member] | Foreign exchange contracts [Member] | ' | ' | ||
Assets | ' | ' | ||
Derivatives | 415 | 708 | ||
Level 1 [Member] | ' | ' | ||
Assets | ' | ' | ||
Deferred Compensation Plan Assets | 859 | 2,585 | ||
Total Postretirement Benefit Plan Assets | 218,939 | 129,912 | ||
Level 1 [Member] | Mutual funds [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 139,657 | [1] | 62,274 | [1] |
Level 1 [Member] | Common stocks [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 64,182 | 61,756 | ||
Level 1 [Member] | Short-term investments [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 12,673 | [3] | 3,834 | [3] |
Level 1 [Member] | Cash and accrued income [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 2,427 | 2,048 | ||
Level 2 [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 1,135,492 | 1,158,657 | ||
Level 2 [Member] | Mutual funds [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 650,206 | [1] | 809,714 | [1] |
Level 2 [Member] | Fixed income securities [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 358,643 | [2] | 226,828 | [2] |
Level 2 [Member] | Short-term investments [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 3,152 | [3] | 5,023 | [3] |
Level 2 [Member] | Hedge fund of funds [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 78,389 | [4] | 71,685 | [4] |
Level 2 [Member] | Real estate funds [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | 45,169 | [5] | 45,892 | [5] |
Level 2 [Member] | Forward contracts [Member] | ' | ' | ||
Assets | ' | ' | ||
Total Postretirement Benefit Plan Assets | -67 | -485 | ||
Level 2 [Member] | Derivatives designated as hedging instruments [Member] | Commodity contracts [Member] | ' | ' | ||
Assets | ' | ' | ||
Derivatives | -330 | -6,286 | ||
Level 2 [Member] | Derivatives designated as hedging instruments [Member] | Foreign exchange contracts [Member] | ' | ' | ||
Assets | ' | ' | ||
Derivatives | -97 | -4,483 | ||
Level 2 [Member] | Derivatives not designated as hedging instruments [Member] | Foreign exchange contracts [Member] | ' | ' | ||
Assets | ' | ' | ||
Derivatives | $415 | $708 | ||
[1] | Mutual fund investments are comprised predominantly of equity securities of U.S. corporations with large capitalizations and also include funds invested in corporate equities in international and emerging markets and funds invested in long-term bonds. | |||
[2] | Fixed income securities include funds that invest primarily in U.S. Treasuries and long-term bonds. | |||
[3] | This category includes several money market funds used for managing overall liquidity. | |||
[4] | This category includes investments in a number of funds representing a variety of strategies intended to diversify risks and reduce volatility. It includes event-driven credit and equity investments targeted at economic policy decisions, long and short positions in U.S. and international equities, arbitrage investments and emerging market equity investments. | |||
[5] | This category includes investments in real estate funds (including office, industrial, residential and retail) primarily throughout the United States. |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Disclosure Fair Value Measurements Additional Information [Abstract] | ' |
Percentage of postretirement benefit plan assets comprised of pension plan assets | 98.00% |
Sharebased_Compensation_Plans_1
Share-based Compensation Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Maximum number of shares of common stock issued | 10,500,000 | ' | ' |
Shares available for grant | 5,013,920 | ' | ' |
Compensation cost for share-based payment arrangements | $11,472 | $8,851 | $12,102 |
Related tax benefit recognized in net income | 4,163 | 3,113 | 4,421 |
Additional net excess tax benefit realized | 12,456 | 2,682 | 4,018 |
Expected life of SARs | '4 years | '4 years | '4 years |
Aggregate intrinsic value of options and SARs exercised | 13,838 | 4,193 | 10,123 |
Cash received on option exercises | 15,781 | 9,739 | 21,253 |
Noncash stock-based compensation associated performance contingent restricted stock units | 4,427 | 2,164 | 5,354 |
Compensation deferrals in current Year | 984 | ' | ' |
Performance Shares [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation, Numbers of Option to be Granted During the Year | 123,413 | ' | ' |
Stock Appreciation Rights (SARs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Total unrecognized compensation cost related to nonvested awards | 198 | ' | ' |
Weighted-average fair value of awards granted | $4.56 | $6.57 | $8.42 |
Fair market value of the company's stock to calculate intrinsic value | $41.72 | ' | ' |
Stock Appreciation Rights (SARs) [Member] | After 2006 [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Minimum vesting period | '1 year | ' | ' |
Expected life of SARs | '7 years | ' | ' |
Stock Appreciation Rights (SARs) [Member] | Prior 2006 [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life of SARs | '10 years | ' | ' |
Stock Options and SARs [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 852,157 | ' | ' |
Performance Shares [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Total unrecognized compensation cost related to nonvested awards | 9,160 | ' | ' |
Weighted-Average Period | '20 months | ' | ' |
Vesting at end of 4 years, if performance targets are not met | 50.00% | ' | ' |
Vesting at end of 5 years, if performance targets are not met | 50.00% | ' | ' |
Total performance contingent restricted stock units vested , Minimum shares | 311,913 | ' | ' |
Total performance contingent restricted stock units, Maximum | 935,738 | ' | ' |
Performance Shares [Member] | 2013 Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Total performance contingent restricted stock units vested , Minimum shares | 151,045 | ' | ' |
Total performance contingent restricted stock units, Maximum | 453,135 | ' | ' |
Performance Shares [Member] | 2012 Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Total performance contingent restricted stock units vested , Minimum shares | 160,868 | ' | ' |
Total performance contingent restricted stock units, Maximum | 482,603 | ' | ' |
Deferred Compensation Plans [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock unit qualified for vesting and vested | 28,647,000 | ' | ' |
Percentage of retainer fees deferred into stock units | 50.00% | ' | ' |
Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Minimum vesting period | '5 years | ' | ' |
Total unrecognized compensation cost related to nonvested awards | 2,781 | ' | ' |
Weighted-Average Period | '21 months | ' | ' |
Noncash stock-based compensation associated performance contingent restricted stock units | $1,358 | $869 | $365 |
Stock unit qualified for vesting and vested | 93,400 | ' | ' |
Restricted stock units outstanding | 221,434 | ' | ' |
Restricted stock units outstanding vested | 75,876 | ' | ' |
Performance contingent restricted stock units vested, shares | 34,925 | ' | ' |
Nonvested [Member] | Stock Options and SARs [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Granted | 852,157 | ' | ' |
Sharebased_Compensation_Plans_2
Share-based Compensation Plans - Estimated Fair Value of all SARs Applying Assumptions (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Sharebased Compensation Plans Estimated Fair Value Of All Sars Applying Assumptions [Abstract] | ' | ' | ' |
Expected dividend yield | 3.90% | 3.50% | 3.10% |
Expected stock price volatility | 24.70% | 32.30% | 33.80% |
Risk-free interest rate | 0.60% | 0.60% | 2.10% |
Expected life of SARs | '4 years | '4 years | '4 years |
Sharebased_Compensation_Plans_3
Share-based Compensation Plans - Stock Options and SARs Outstanding and Exercisable (Detail) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
$23.69 - $28.48 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, Vested and Expected to Vest, Exercise Price, Minimum | $21.15 |
Range of Exercise Prices, Vested and Expected to Vest, Exercise Price, Maximum | $28.46 |
Range of Exercise Prices, Options, Exercisable, Exercise Price, Minimum | $21.15 |
Range of Exercise Prices, Options, Exercisable, Exercise Price, Maximum | $28.46 |
$29.30 - $32.03 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, Vested and Expected to Vest, Exercise Price, Minimum | $28.48 |
Range of Exercise Prices, Vested and Expected to Vest, Exercise Price, Maximum | $32.94 |
Range of Exercise Prices, Options, Exercisable, Exercise Price, Minimum | $28.48 |
Range of Exercise Prices, Options, Exercisable, Exercise Price, Maximum | $32.94 |
$32.85 - $43.83 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, Vested and Expected to Vest, Exercise Price, Minimum | $33.14 |
Range of Exercise Prices, Vested and Expected to Vest, Exercise Price, Maximum | $43.83 |
Range of Exercise Prices, Options, Exercisable, Exercise Price, Minimum | $33.14 |
Range of Exercise Prices, Options, Exercisable, Exercise Price, Maximum | $43.83 |
$23.69 - $43.83 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Range of Exercise Prices, Vested and Expected to Vest, Exercise Price, Minimum | $21.15 |
Range of Exercise Prices, Vested and Expected to Vest, Exercise Price, Maximum | $43.83 |
Range of Exercise Prices, Options, Exercisable, Exercise Price, Minimum | $21.15 |
Range of Exercise Prices, Options, Exercisable, Exercise Price, Maximum | $43.83 |
Stock Options and SARs [Member] | $23.69 - $28.48 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options, Vested and Expected to Vest, Number Outstanding | 802,260 |
Options, Vested and Expected to Vest, Weighted-average Remaining Contractual Life | '2 years 1 month 14 days |
Options, Vested and Expected to Vest, Weighted-average Exercise Price | $26.91 |
Options, Vested and Expected to Vest, Aggregate Intrinsic Value | $11,884 |
Options, Number Exercisable | 802,260 |
Options, Weighted-average Remaining Contractual Life | '2 years 1 month 14 days |
Options, Weighted-average Exercise Price | $26.91 |
Options, Aggregate Intrinsic Value | 11,884 |
Stock Options and SARs [Member] | $29.30 - $32.03 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options, Vested and Expected to Vest, Number Outstanding | 1,100,792 |
Options, Vested and Expected to Vest, Weighted-average Remaining Contractual Life | '4 years 11 months 7 days |
Options, Vested and Expected to Vest, Weighted-average Exercise Price | $31.39 |
Options, Vested and Expected to Vest, Aggregate Intrinsic Value | 11,374 |
Options, Number Exercisable | 262,185 |
Options, Weighted-average Remaining Contractual Life | '1 year 1 month 17 days |
Options, Weighted-average Exercise Price | $29.33 |
Options, Aggregate Intrinsic Value | 3,248 |
Stock Options and SARs [Member] | $32.85 - $43.83 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options, Vested and Expected to Vest, Number Outstanding | 1,101,635 |
Options, Vested and Expected to Vest, Weighted-average Remaining Contractual Life | '4 years 3 months 0 days |
Options, Vested and Expected to Vest, Weighted-average Exercise Price | $34.76 |
Options, Vested and Expected to Vest, Aggregate Intrinsic Value | 7,670 |
Options, Number Exercisable | 1,101,635 |
Options, Weighted-average Remaining Contractual Life | '4 years 3 months 0 days |
Options, Weighted-average Exercise Price | $34.76 |
Options, Aggregate Intrinsic Value | 7,670 |
Stock Options and SARs [Member] | $23.69 - $43.83 [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options, Vested and Expected to Vest, Number Outstanding | 3,004,687 |
Options, Vested and Expected to Vest, Weighted-average Remaining Contractual Life | '3 years 11 months 6 days |
Options, Vested and Expected to Vest, Weighted-average Exercise Price | $31.43 |
Options, Vested and Expected to Vest, Aggregate Intrinsic Value | 30,928 |
Options, Number Exercisable | 2,166,080 |
Options, Weighted-average Remaining Contractual Life | '3 years 0 months 30 days |
Options, Weighted-average Exercise Price | $31.20 |
Options, Aggregate Intrinsic Value | $22,802 |
Sharebased_Compensation_Plans_4
Share-based Compensation Plans - Company's Stock Options and SARs (Detail) (Stock Options and SARs [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 5,050,740 |
Granted | 852,157 |
Exercised | -2,326,215 |
Forfeited/Expired | -571,995 |
Ending Balance | 3,004,687 |
Beginning Balance, Weighted Average Exercise Price | $30.63 |
Granted, Weighted-average Exercise Price | $32.03 |
Exercised, Weighted-average Exercise Price | $29.44 |
Forfeited/Expired, Weighted Average Exercise Price | $33.10 |
Ending Balance, Weighted Average Exercise Price | $31.43 |
Nonvested [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 726,510 |
Vested | -726,510 |
Granted | 852,157 |
Forfeited/Expired | -13,550 |
Ending Balance | 838,607 |
Vested [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 4,324,230 |
Vested | 726,510 |
Exercised | -2,326,215 |
Forfeited/Expired | -558,445 |
Ending Balance | 2,166,080 |
Sharebased_Compensation_Plans_5
Share-based Compensation Plans - Activity Related to PCSUs and Restricted Stock Units (Detail) (PCSUs and restricted stock units [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 1,671,017 |
Granted | 445,098 |
Performance adjustments | -112,540 |
Converted | -956,802 |
Dividend equivalents | 34,892 |
Ending Balance | 1,081,665 |
Beginning Balance, Weighted Average Grant Date Fair Value | $27.83 |
Granted, Weighted Average Grant Date Fair Value | $28.90 |
Performance adjustments, Weighted Average Grant Date Fair Value | $31.82 |
Converted, Weighted Average Grant Date Fair Value | $25.87 |
Dividend equivalents, Weighted Average Grant Date Fair Value | $36.13 |
Ending Balance, Weighted Average Grant Date Fair Value | $29.85 |
Nonvested [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 492,114 |
Granted | 445,098 |
Performance adjustments | -112,536 |
Vested | -37,368 |
Dividend equivalents | 5,621 |
Ending Balance | 792,929 |
Vested [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Beginning Balance | 1,178,903 |
Performance adjustments | -4 |
Vested | 37,368 |
Converted | -956,802 |
Dividend equivalents | 29,271 |
Ending Balance | 288,736 |
Employee_Benefit_Plans_Compone
Employee Benefit Plans - Components of Net Periodic Benefit Cost (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Retirement Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | $25,198 | $23,551 | $20,796 |
Interest cost | 67,235 | 69,928 | 70,869 |
Expected return on plan assets | -86,545 | -83,758 | -84,015 |
Amortization of net transition obligation | 438 | 483 | 464 |
Amortization of prior service cost / (credit) | 569 | 409 | 335 |
Amortization of net actuarial loss | 43,776 | 37,904 | 24,911 |
Effect of settlement loss | 1,947 | 70 | 0 |
Other | ' | 0 | 92 |
Net periodic benefit cost | 52,618 | 48,587 | 33,452 |
Retiree Health and Life Insurance Plans [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | 891 | 820 | 1,016 |
Interest cost | 942 | 1,120 | 1,583 |
Expected return on plan assets | -1,510 | -1,526 | -1,446 |
Amortization of prior service cost / (credit) | -2,969 | -6,491 | -7,882 |
Amortization of net actuarial loss | 0 | -2 | 927 |
Net periodic benefit cost | ($2,646) | ($6,079) | ($5,802) |
Employee_Benefit_Plans_Plans_O
Employee Benefit Plans - Plans' Obligation and Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Change in Plan Assets | ' | ' | ' |
Fair value of plan assets at December 31 | $1,354,431 | $1,288,569 | ' |
Retirement Plans [Member] | ' | ' | ' |
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities | 13,034 | 16,068 | ' |
Change in Benefit Obligation | ' | ' | ' |
Benefit obligation at January 1 | 1,734,556 | 1,544,730 | ' |
Service cost | 25,198 | 23,551 | 20,796 |
Interest cost | 67,235 | 69,928 | 70,869 |
Plan participant contributions | 528 | 609 | ' |
Plan amendments | 1,927 | 648 | ' |
Actuarial loss/(gain) | -137,365 | 163,194 | ' |
Benefits paid | -90,403 | -84,150 | ' |
Impact of foreign exchange rates | -836 | 11,854 | ' |
Effect of settlements | -4,382 | 0 | ' |
Other | 0 | 4,192 | ' |
Benefit obligation at December 31 | 1,596,458 | 1,734,556 | 1,544,730 |
Change in Plan Assets | ' | ' | ' |
Fair value of plan assets at January 1 | 1,267,386 | 1,129,042 | ' |
Actual return on plan assets | 134,229 | 152,907 | ' |
Company contributions | 31,591 | 65,362 | ' |
Plan participant contributions | 528 | 609 | ' |
Benefits paid | -90,403 | -84,150 | ' |
Impact of foreign exchange rates | -952 | 9,453 | ' |
Effect of settlements | -4,382 | 0 | ' |
Expenses paid | -6,063 | -5,837 | ' |
Fair value of plan assets at December 31 | 1,331,934 | 1,267,386 | 1,129,042 |
Funded Status of the Plans | -264,524 | -467,170 | ' |
Retiree Health and Life Insurance Plans [Member] | ' | ' | ' |
Pension and Other Postretirement Defined Benefit Plans, Current Liabilities | 801 | 1,250 | ' |
Change in Benefit Obligation | ' | ' | ' |
Benefit obligation at January 1 | 32,581 | 38,097 | ' |
Service cost | 891 | 820 | 1,016 |
Interest cost | 942 | 1,120 | 1,583 |
Plan participant contributions | 1,040 | 1,229 | ' |
Plan amendments | ' | 0 | ' |
Actuarial loss/(gain) | -4,349 | -4,540 | ' |
Benefits paid | -3,542 | -4,158 | ' |
Impact of foreign exchange rates | -42 | 13 | ' |
Effect of settlements | 0 | 0 | ' |
Benefit obligation at December 31 | 27,521 | 32,581 | 38,097 |
Change in Plan Assets | ' | ' | ' |
Fair value of plan assets at January 1 | 21,183 | 20,716 | ' |
Actual return on plan assets | 2,795 | 2,704 | ' |
Company contributions | 1,126 | 777 | ' |
Plan participant contributions | 1,040 | 1,229 | ' |
Benefits paid | -3,542 | -4,158 | ' |
Effect of settlements | 0 | 0 | ' |
Expenses paid | -105 | -85 | ' |
Fair value of plan assets at December 31 | 22,497 | 21,183 | 20,716 |
Funded Status of the Plans | ($5,024) | ($11,398) | ' |
Employee_Benefit_Plans_Recogni
Employee Benefit Plans - Recognized Amounts in Consolidated Balance Sheets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Total Recognized Amounts in the Consolidated Balance Sheets | ' | ' |
Noncurrent liabilities | ($263,718) | ($461,881) |
Retirement Plans [Member] | ' | ' |
Total Recognized Amounts in the Consolidated Balance Sheets | ' | ' |
Noncurrent assets | 7,374 | 0 |
Current liabilities | -13,034 | -16,068 |
Noncurrent liabilities | -258,864 | -451,102 |
Net liability | -264,524 | -467,170 |
Retiree Health and Life Insurance Plans [Member] | ' | ' |
Total Recognized Amounts in the Consolidated Balance Sheets | ' | ' |
Noncurrent assets | 0 | 0 |
Current liabilities | -801 | -1,250 |
Noncurrent liabilities | -4,223 | -10,148 |
Net liability | ($5,024) | ($11,398) |
Employee_Benefit_Plans_Compone1
Employee Benefit Plans - Component of Net Periodic Pension Cost that are Included in Accumulated Other Comprehensive Loss (Income) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Retirement Plans [Member] | ' | ' |
Net actuarial loss | $518,275 | $742,579 |
Prior service cost/(credit) | 3,991 | 2,658 |
Net transition obligation | 470 | 975 |
Amount in accumulated other comprehensive loss (income) | 522,736 | 746,212 |
Retiree Health and Life Insurance Plans [Member] | ' | ' |
Net actuarial loss | -3,178 | 2,349 |
Prior service cost/(credit) | -1,438 | -4,407 |
Amount in accumulated other comprehensive loss (income) | ($4,616) | ($2,058) |
Employee_Benefit_Plans_Amounts
Employee Benefit Plans - Amounts Recognized in Other Comprehensive Loss/(Income) (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Retirement Plans [Member] | ' | ' |
Adjustments arising during the period: | ' | ' |
Net actuarial loss/(gain) | ($178,648) | $100,349 |
Prior service cost/(credit) | 1,902 | 649 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments | -1,947 | 0 |
Reversal of amortization: | ' | ' |
Net actuarial loss | -43,776 | -37,904 |
Prior service cost/(credit) | -569 | -409 |
Net transition obligation | -438 | -483 |
Total recognized in other comprehensive loss/(income) | -223,476 | 62,202 |
Total recognized in net periodic benefit cost and other comprehensive loss/(income) | -170,858 | 110,789 |
Retiree Health and Life Insurance Plans [Member] | ' | ' |
Adjustments arising during the period: | ' | ' |
Net actuarial loss/(gain) | -5,527 | -5,633 |
Prior service cost/(credit) | ' | 0 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments | 0 | 0 |
Reversal of amortization: | ' | ' |
Net actuarial loss | 0 | 2 |
Prior service cost/(credit) | 2,969 | 6,491 |
Total recognized in other comprehensive loss/(income) | -2,558 | 860 |
Total recognized in net periodic benefit cost and other comprehensive loss/(income) | ($5,204) | ($5,219) |
Employee_Benefit_Plans_Accumul
Employee Benefit Plans - Accumulated Other Comprehensive Loss/(Income) Expects to Recognize as Components of Net Periodic Benefit Cost (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Retirement Plans [Member] | ' |
Net actuarial loss | $25,726 |
Prior service cost/(credit) | 673 |
Net transition obligation | 424 |
Expected amortization of defined benefit plan amounts from AOCI in next fiscal year | 26,823 |
Retiree Health and Life Insurance Plans [Member] | ' |
Net actuarial loss | -100 |
Prior service cost/(credit) | -1,384 |
Expected amortization of defined benefit plan amounts from AOCI in next fiscal year | ($1,484) |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2009 | Dec. 31, 2010 |
Other Postretirement Benefit Plan, Defined Benefit [Member] | Sonoco Investment and Retirement Plan [Member] | Sonoco Investment and Retirement Plan [Member] | Sonoco Investment and Retirement Plan [Member] | U.S. Defined Benefit Plans [Member] | United Kingdom Defined Benefit Plan [Member] | United Kingdom Defined Benefit Plan [Member] | United Kingdom Defined Benefit Plan [Member] | United Kingdom Defined Benefit Plan [Member] | Canada Defined Benefit Plan [Member] | Canada Defined Benefit Plan [Member] | Canada Defined Benefit Plan [Member] | Canada Defined Benefit Plan [Member] | Sonoco Savings Plan [Member] | Sonoco Savings Plan [Member] | Sonoco Savings Plan [Member] | Inactive Plan investment portfolio [Member] | Inactive Plan investment portfolio [Member] | Inactive Plan investment portfolio [Member] | Inactive Plan investment portfolio [Member] | Active Plan Investment Portfolio [Member] | Active Plan Investment Portfolio [Member] | Active Plan Investment Portfolio [Member] | Active Plan Investment Portfolio [Member] | Plan Changes and Amendments [Member] | Plan Changes and Amendments [Member] | Plan Changes and Amendments [Member] | Plan Amendments 2010 [Member] | |||
Y | Equity securities [Member] | Debt Securities [Member] | Alternative [Member] | Cash and short-term investments [Member] | Equity securities [Member] | Debt Securities [Member] | Alternative [Member] | Cash and short-term investments [Member] | U.S. Defined Benefit Plans [Member] | U.S. Defined Benefit Plans [Member] | U.S. Defined Benefit Plans [Member] | U.S. Defined Benefit Plans [Member] | U.S. Defined Benefit Plans [Member] | U.S. Defined Benefit Plans [Member] | U.S. Defined Benefit Plans [Member] | U.S. Defined Benefit Plans [Member] | Retiree Health and Life Insurance Plans [Member] | Retirement plans [Member] | Retiree Health and Life Insurance Plans [Member] | |||||||||||
Equity securities [Member] | Debt Securities [Member] | Alternative [Member] | Cash and short-term investments [Member] | Equity securities [Member] | Debt Securities [Member] | Alternative [Member] | Cash and short-term investments [Member] | |||||||||||||||||||||||
Defined benefit plans, accumulated benefit obligation | $1,539,382 | $1,665,597 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Projected benefit obligation (PBO) with accumulated benefit obligations in excess of plan assets | 1,510,804 | 1,734,556 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated benefit obligation (ABO) with accumulated benefit obligations in excess of plan assets | 1,461,700 | 1,665,597 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets | 1,238,906 | 1,267,385 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increasing the assumed trend rate for healthcare costs by one percentage point would increase the accumulated postretirement benefit obligation | 425 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increasing the assumed trend rate for healthcare costs by one percentage point would increase total service and interest cost compo | 56 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decreasing the assumed trend rate for healthcare costs by one percentage point would decrease the APBO | 390 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decreasing the assumed trend rate for healthcare costs by one percentage point would decrease total service and interest cost component | 50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in accumulated postretirement benefit obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,566 | 4,300 | 17,625 | ' |
Amortization period of accumulated postretirement benefit obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 3 months |
Total Postretirement Benefit Plan Assets | 1,354,431 | 1,288,569 | 1,331,934 | ' | ' | ' | 1,010,798 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current target allocation for investment portfolio | ' | ' | ' | ' | ' | ' | ' | 54.00% | 45.00% | 0.00% | 1.00% | 60.00% | 40.00% | 0.00% | 0.00% | ' | ' | ' | 49.00% | 40.00% | 11.00% | 0.00% | 57.00% | ' | 13.00% | 0.00% | ' | ' | ' | ' |
Percentage of retiree health liability | 98.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Projected contributions to retirement plan | 67,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined contribution plan contribution percentage, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined contribution plan contribution percentage, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' |
Percentage of participants modified matching contribution to be matched towards safe Harbor under companies savings plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Modify matching employee contribution to profit sharing under companies savings plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Companies expense related to the plan | ' | ' | ' | 11,974 | 10,350 | 9,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,700 | 8,920 | 8,670 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash contributions to the SIRP | ' | ' | ' | $9,290 | $8,920 | $8,568 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution rate of annual eligible earnings under companies investment and retirement plan | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contribution rate of annual eligible earnings in excess of social security wage base under companies investment and retirement plan | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Age limit of participants | ' | ' | ' | 55 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Company
Employee Benefit Plans - Company's Projected Benefit Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Retirement Plans [Member] | ' |
2014 | $85,789 |
2015 | 86,449 |
2016 | 84,736 |
2017 | 87,218 |
2018 | 89,752 |
2019-2023 | 484,517 |
Retiree Health and Life Insurance Plans [Member] | ' |
2014 | 2,845 |
2015 | 3,014 |
2016 | 2,987 |
2017 | 2,885 |
2018 | 2,759 |
2019-2023 | $10,858 |
Employee_Benefit_Plans_Major_A
Employee Benefit Plans - Major Actuarial Assumptions Used in Determining PBO, ABO and Net Periodic Cost (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Retirement Plans [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount Rate | 4.78% | 3.90% | ' |
Rate of Compensation Increase | 3.99% | 4.29% | ' |
Weighted-average assumptions used to determine net periodic benefit cost | ' | ' | ' |
Discount Rate | 3.90% | 4.45% | 5.21% |
Expected Long-term Rate of Return | 7.65% | 7.79% | 7.79% |
Rate of Compensation Increase | 4.29% | 4.63% | 4.49% |
Retiree Health and Life Insurance Plans [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount Rate | 4.03% | 3.16% | ' |
Rate of Compensation Increase | 3.44% | 3.51% | ' |
Weighted-average assumptions used to determine net periodic benefit cost | ' | ' | ' |
Discount Rate | 3.16% | 3.76% | 4.37% |
Expected Long-term Rate of Return | 7.42% | 7.52% | 8.00% |
Rate of Compensation Increase | 3.51% | 4.15% | 4.29% |
Foreign Plans [Member] | Minimum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount Rate | 3.25% | 3.50% | ' |
Rate of Compensation Increase | 2.50% | 2.50% | ' |
Weighted-average assumptions used to determine net periodic benefit cost | ' | ' | ' |
Discount Rate | 3.50% | 4.36% | 4.40% |
Expected Long-term Rate of Return | 3.50% | 3.75% | 3.75% |
Rate of Compensation Increase | 2.50% | 2.50% | 2.50% |
Foreign Plans [Member] | Maximum [Member] | ' | ' | ' |
Weighted-average assumptions used to determine benefit obligations | ' | ' | ' |
Discount Rate | 4.97% | 4.40% | ' |
Rate of Compensation Increase | 4.00% | 3.50% | ' |
Weighted-average assumptions used to determine net periodic benefit cost | ' | ' | ' |
Discount Rate | 4.40% | 5.31% | 6.00% |
Expected Long-term Rate of Return | 5.75% | 6.25% | 7.40% |
Rate of Compensation Increase | 3.50% | 3.50% | 4.50% |
Employee_Benefit_Plans_Health_
Employee Benefit Plans - Health Care Cost Trend Rates Related to U.S. Plan (Detail) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Pre-age 65 [Member] | ' | ' |
Healthcare Cost Trend Rate | 8.00% | 8.00% |
Ultimate Trend Rate | 5.60% | 6.15% |
Year at which the Rate Reaches the Ultimate Trend Rate | '2045 | '2045 |
Post-age 65 [Member] | ' | ' |
Healthcare Cost Trend Rate | 8.00% | 8.30% |
Ultimate Trend Rate | 5.60% | 6.16% |
Year at which the Rate Reaches the Ultimate Trend Rate | '2045 | '2045 |
Employee_Benefit_Plans_Weighte
Employee Benefit Plans - Weighted-Average Asset Allocations (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
Total | 100.00% | 100.00% |
U.S. [Member] | ' | ' |
Total | 100.00% | 100.00% |
U.K. [Member] | ' | ' |
Total | 100.00% | 100.00% |
Canada [Member] | ' | ' |
Total | 100.00% | 100.00% |
Retirement Plans [Member] | Equity securities [Member] | ' | ' |
Total | 59.10% | 54.60% |
Retirement Plans [Member] | Debt Securities [Member] | ' | ' |
Total | 34.00% | 37.90% |
Retirement Plans [Member] | Alternative [Member] | ' | ' |
Total | 6.60% | 7.10% |
Retirement Plans [Member] | Cash and short-term investments [Member] | ' | ' |
Total | 0.30% | 0.40% |
Retirement Plans [Member] | U.S. [Member] | Equity securities [Member] | ' | ' |
Total | 53.20% | 52.10% |
Retirement Plans [Member] | U.S. [Member] | Debt Securities [Member] | ' | ' |
Total | 34.50% | 36.00% |
Retirement Plans [Member] | U.S. [Member] | Alternative [Member] | ' | ' |
Total | 12.00% | 11.80% |
Retirement Plans [Member] | U.S. [Member] | Cash and short-term investments [Member] | ' | ' |
Total | 0.30% | 0.10% |
Retirement Plans [Member] | U.K. [Member] | Equity securities [Member] | ' | ' |
Total | 53.90% | 67.30% |
Retirement Plans [Member] | U.K. [Member] | Debt Securities [Member] | ' | ' |
Total | 44.80% | 31.90% |
Retirement Plans [Member] | U.K. [Member] | Alternative [Member] | ' | ' |
Total | 0.00% | 0.00% |
Retirement Plans [Member] | U.K. [Member] | Cash and short-term investments [Member] | ' | ' |
Total | 1.30% | 0.80% |
Retirement Plans [Member] | Canada [Member] | Equity securities [Member] | ' | ' |
Total | 64.00% | 66.00% |
Retirement Plans [Member] | Canada [Member] | Debt Securities [Member] | ' | ' |
Total | 35.40% | 32.70% |
Retirement Plans [Member] | Canada [Member] | Alternative [Member] | ' | ' |
Total | 0.00% | 0.00% |
Retirement Plans [Member] | Canada [Member] | Cash and short-term investments [Member] | ' | ' |
Total | 0.60% | 1.30% |
Income_Taxes_Provision_for_Tax
Income Taxes - Provision for Taxes on Income (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Pretax income | ' | ' | ' |
Domestic | $217,305 | $202,594 | $208,588 |
Foreign | 87,264 | 84,480 | 75,818 |
Income before income taxes | 304,569 | 287,074 | 284,406 |
Current | ' | ' | ' |
Federal | 32,691 | 57,424 | 27,920 |
State | 2,207 | 5,891 | 5,910 |
Foreign | 25,089 | 22,123 | 34,794 |
Total current | 59,987 | 85,438 | 68,624 |
Deferred | ' | ' | ' |
Federal | 33,937 | 13,552 | 34,992 |
State | 4,080 | 6,303 | 6,249 |
Foreign | -1,801 | -1,534 | -31,442 |
Total deferred | 36,216 | 18,321 | 9,799 |
Total taxes | $96,203 | $103,759 | $78,423 |
Income_Taxes_Deferred_Tax_Liab
Income Taxes - Deferred Tax Liabilities/(Assets) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Disclosure Income Taxes Deferred Tax Liabilities Assets [Abstract] | ' | ' |
Depreciation | $117,752 | $109,973 |
Intangibles | 161,707 | 156,859 |
Gross deferred tax liabilities | 279,459 | 266,832 |
Retiree health benefits | -7,468 | -6,661 |
Foreign loss carryforwards | -83,033 | -89,115 |
U.S. Federal loss carryforwards | -19,553 | -26,967 |
Capital loss carryforwards | -3,053 | -3,769 |
Employee benefits | -120,551 | -215,907 |
Accrued liabilities and other | -79,574 | -83,336 |
Gross deferred tax assets | -313,232 | -425,755 |
Valuation allowance on deferred tax assets | 60,856 | 61,563 |
Total deferred taxes, net | $27,083 | ($97,360) |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Line Items] | ' | ' | ' |
Loss carryforwards not subject to expiration | $246,000 | ' | ' |
State credit carry forwards | 15,300 | ' | ' |
Increase (decrease) in reserve for uncertain tax positions | -1,421 | 424 | 6,313 |
Valuation allowance | -747 | 5,201 | -20,533 |
Undistributed earnings of international subsidiaries total | 574,500 | ' | ' |
Cash From certain foreign subsidiaries repatriated | 260,000 | ' | ' |
Unrecognized tax benefits | 22,200 | 23,900 | ' |
Accrued for interest | 4,100 | 4,400 | ' |
Interest expense | 300 | ' | ' |
Interest benefit | 2,500 | ' | ' |
Interest expense | 2,200 | ' | ' |
U.S. Federal [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Loss carryforwards | 55,800 | ' | ' |
Foreign [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Loss carryforwards | 335,000 | ' | ' |
State [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Loss carryforwards | 13,900 | ' | ' |
Uncertain Items Arising During Year [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Increase (decrease) in reserve for uncertain tax positions | 4,500 | 4,300 | 9,800 |
Uncertain Items Arising During Prior Years [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Increase (decrease) in reserve for uncertain tax positions | -5,400 | -3,800 | -3,500 |
FRANCE | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Valuation allowance | ' | ' | 24,282 |
2014 to 2019 | Foreign [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating loss carryforwards subject to expiration | 32,000 | ' | ' |
2019 to 2033 | Foreign [Member] | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' |
Operating loss carryforwards subject to expiration | $57,000 | ' | ' |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of U.S. Federal Statutory Tax Rate to Actual Consolidated Tax Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Income Taxes Reconciliation Of U S Federal Statutory Tax Rate To Actual Consolidated Tax Expense [Abstract] | ' | ' | ' |
Statutory tax rate | $106,599 | $100,476 | $99,542 |
State income taxes, net of federal tax benefit | 6,146 | 4,444 | 6,370 |
Valuation allowance | -747 | 5,201 | -20,533 |
Tax examinations including change in reserve for uncertain tax positions | -1,421 | 424 | 6,313 |
Change in estimates related to prior years | -672 | -2,111 | -1,006 |
Foreign earnings taxed at other than U.S. rates | -6,639 | -8,224 | -9,730 |
U.S. taxes on dividends from foreign subsidiaries | 0 | 11,744 | 0 |
Effect of tax rate changes enacted during the year | -915 | -1,399 | -952 |
Deduction related to qualified production activities | -3,819 | -4,325 | -2,860 |
Other, net | -2,329 | -2,471 | 1,279 |
Total taxes | $96,203 | $103,759 | $78,423 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ' | ' | ' |
Statutory tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal tax benefit | 2.00% | 1.50% | 2.20% |
Valuation allowance | -0.20% | 1.80% | -7.20% |
Tax examinations including change in reserve for uncertain tax positions | -0.50% | 0.10% | 2.20% |
Change in estimates related to prior years | -0.20% | -0.70% | -0.40% |
Foreign earnings taxed at other than U.S. rates | -2.10% | -2.90% | -3.40% |
U.S. taxes on dividends from foreign subsidiaries | 0.00% | 4.10% | 0.00% |
Effect of tax rate changes enacted during the year | -0.30% | -0.50% | -0.30% |
Deduction related to qualified production activities | -1.30% | -1.50% | -1.00% |
Other, net | -0.80% | -0.80% | 0.40% |
Total taxes | 31.60% | 36.10% | 27.50% |
Income_Taxes_Reconciliation_of1
Income Taxes - Reconciliation of Gross Amounts of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Gross Unrecognized Tax Benefits, Beginning Balance | $31,300 | $32,800 | $28,100 |
Increases in prior years' unrecognized tax benefits | 1,100 | 4,300 | 600 |
Decreases in prior years' unrecognized tax benefits | -1,800 | -4,200 | -1,600 |
Increases in current year unrecognized tax benefits | 4,100 | 4,300 | 11,200 |
Decreases in unrecognized tax benefits from the lapse of statutes of limitations | -5,300 | -4,700 | -4,500 |
Settlements | -600 | -1,200 | -1,000 |
Gross Unrecognized Tax Benefits, Ending Balance | $28,800 | $31,300 | $32,800 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 84 Months Ended | 12 Months Ended | 96 Months Ended | 84 Months Ended | ||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 08, 2011 | Dec. 31, 2013 | Dec. 31, 2007 | Dec. 31, 2005 | Dec. 31, 2013 | Dec. 31, 2013 | |
U.S. Mills [Member] | U.S. Mills [Member] | U.S. Mills [Member] | U.S. Mills [Member] | Tegrant Holding Corporation [Member] | Tegrant Holding Corporation [Member] | Tegrant Holding Corporation [Member] | Hotspot [Member] | Hotspot [Member] | Hotspot [Member] | Hotspot [Member] | Operating Units 2 - 5 [Member] | |||
Insurance_Carriers | ||||||||||||||
Site Contingency [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Portion of Hotspot remediation to be funded by U.S. Mills | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' |
Environmental remediation expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,150,000 | $12,500,000 | $17,650,000 | $60,825,000 |
Environmental remediation spent | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,467,000 | ' | ' | 14,467,000 | 11,884,000 |
Environmental accrual | 73,032,000 | 75,605,000 | 52,124,000 | ' | 52,124,000 | 53,972,000 | 18,429,000 | 18,733,000 | 18,850,000 | 3,183,000 | ' | ' | 3,183,000 | 48,941,000 |
Penalty per day for failure to comply with its terms | 32,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Environmental contingencies future related cost, high estimate | ' | ' | 94,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recognized environmental loss contingencies settlements from insurance policies | ' | ' | ' | 40,825,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of remaining insurance carriers in liquidation | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total future payments | 328,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments in 2014 | 70,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments in 2015 | 64,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments in 2016 | 67,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments in 2017 | 50,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments in 2018 - 2023 | $76,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shareholders_Equity_and_Earnin2
Shareholders' Equity and Earnings per Share - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Apr. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Sonoco For Plas [Member] | Sonoco For Plas [Member] | Buyback Program [Member] | Tax Withholding Obligations [Member] | Tax Withholding Obligations [Member] | Tax Withholding Obligations [Member] | ||||||||||||
Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 132,500 | 575,845 | 126,765 | 94,295 |
Cost of shares repurchased | ' | ' | ' | ' | ' | ' | ' | ' | $27,239 | $4,167 | $49,442 | ' | ' | $5,052 | $22,187 | $4,167 | $3,145 |
Number of shares authorized for repurchase | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' |
Number of shares to be repurchased under authorization plan | 4,867,500 | ' | ' | ' | ' | ' | ' | ' | 4,867,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends per common share | $0.31 | $0.31 | $0.31 | $0.30 | $0.30 | $0.30 | $0.30 | $0.29 | $1.23 | $1.19 | $1.15 | ' | ' | ' | ' | ' | ' |
Percentage of ownership, small chilean tube and core business accounted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.00% | ' | ' | ' | ' | ' |
Owned subsidiary, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | ' | ' | ' | ' | ' |
Purchase of noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 5,718 | 5,718 | ' | ' | ' | ' | ' |
Carrying amount of noncontrolling interest wrote off | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,727 | ' | ' | ' | ' |
Reduction in capital in excess | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,718 | ' | $2,991 | ' | ' | ' | ' |
Shareholders_Equity_and_Earnin3
Shareholders' Equity and Earnings per Share - Earnings Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Apr. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributable to Sonoco | $54,746 | $61,240 | $54,988 | $48,139 | $42,783 | $58,836 | $51,323 | $43,068 | $219,113 | $196,010 | $217,517 |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 102,577 | 101,804 | 101,071 |
Dilutive effect of stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 671 | 769 | 1,102 |
Diluted outstanding shares | ' | ' | ' | ' | ' | ' | ' | ' | 103,248 | 102,573 | 102,173 |
Net income attributable to Sonoco: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (usd per share) | $0.53 | $0.60 | $0.54 | $0.47 | $0.42 | $0.58 | $0.50 | $0.42 | $2.14 | $1.93 | $2.15 |
Diluted (usd per share) | $0.53 | $0.59 | $0.53 | $0.47 | $0.42 | $0.57 | $0.50 | $0.42 | $2.12 | $1.91 | $2.13 |
Shareholders_Equity_and_Earnin4
Shareholders' Equity and Earnings per Share - Shares Not Included in Computations of Diluted Income Per Share (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Shareholders Equity And Earnings Per Share Shares Not Included In Computations Of Diluted Income Per Share [Abstract] | ' | ' | ' |
Anti-dilutive options/SARs | 1,100,233 | 2,440,270 | 1,753,451 |
Segment_Reporting_Financial_Se
Segment Reporting - Financial Segment Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Apr. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | $1,214,874 | $1,227,749 | $1,226,256 | $1,179,213 | $1,175,870 | $1,195,530 | $1,202,359 | $1,212,370 | $4,848,092 | $4,786,129 | $4,498,932 |
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | 304,569 | 287,074 | 284,406 |
Identifiable Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 3,979,291 | ' | ' | ' | 4,176,065 | ' | ' | ' | 3,979,291 | 4,176,065 | ' |
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 197,671 | 200,403 | 179,871 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 172,442 | 214,862 | 173,372 |
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 4,957,706 | 4,894,698 | 4,611,082 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 4,957,706 | 4,894,698 | 4,611,082 |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 4,848,092 | 4,786,129 | 4,498,932 |
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | 304,569 | 287,074 | 284,406 |
Identifiable Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 3,979,291 | ' | ' | ' | 4,176,065 | ' | ' | ' | 3,979,291 | 4,176,065 | 3,992,799 |
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 197,671 | 200,403 | 179,871 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 172,442 | 214,862 | 173,372 |
Operating Segments [Member] | Consumer Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,898,690 | 1,920,114 | 1,982,989 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,898,690 | 1,920,114 | 1,982,989 |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,893,533 | 1,912,621 | 1,977,298 |
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | 187,130 | 176,768 | 191,475 |
Identifiable Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 1,282,726 | ' | ' | ' | 1,298,381 | ' | ' | ' | 1,282,726 | 1,298,381 | 1,357,691 |
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 74,127 | 75,556 | 80,257 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 48,770 | 58,284 | 60,795 |
Operating Segments [Member] | Display and Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 626,976 | 583,435 | 487,621 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 626,976 | 583,435 | 487,621 |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 625,008 | 581,182 | 486,130 |
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | 20,806 | 20,397 | 21,606 |
Identifiable Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 518,975 | ' | ' | ' | 503,172 | ' | ' | ' | 518,975 | 503,172 | 477,001 |
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 18,049 | 15,753 | 8,239 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 7,422 | 9,170 | 5,414 |
Operating Segments [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,958,762 | 1,937,523 | 1,996,221 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,958,762 | 1,937,523 | 1,996,221 |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,858,880 | 1,840,827 | 1,892,220 |
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | 138,094 | 141,351 | 138,207 |
Identifiable Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 1,290,353 | ' | ' | ' | 1,316,606 | ' | ' | ' | 1,290,353 | 1,316,606 | 1,294,712 |
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 82,392 | 83,329 | 86,559 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 88,556 | 112,298 | 86,821 |
Operating Segments [Member] | Protective Solutions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 473,278 | 453,626 | 144,251 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 473,278 | 453,626 | 144,251 |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 470,671 | 451,499 | 143,284 |
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | 40,084 | 36,912 | 15,355 |
Identifiable Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 552,121 | ' | ' | ' | 566,608 | ' | ' | ' | 552,121 | 566,608 | 572,719 |
Depreciation, Depletion and Amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation, depletion and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 23,103 | 25,765 | 4,816 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 15,908 | 8,889 | 3,048 |
Operating Segments [Member] | Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | -81,545 | -88,354 | -82,237 |
Identifiable Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable Assets | 335,116 | ' | ' | ' | 491,298 | ' | ' | ' | 335,116 | 491,298 | 290,676 |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 11,786 | 26,221 | 17,294 |
Consolidation, Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 109,614 | 108,569 | 112,149 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 109,614 | 108,569 | 112,149 |
Consolidation, Eliminations [Member] | Consumer Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 5,157 | 7,493 | 5,691 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 5,157 | 7,493 | 5,691 |
Consolidation, Eliminations [Member] | Display and Packaging [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,968 | 2,253 | 1,491 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,968 | 2,253 | 1,491 |
Consolidation, Eliminations [Member] | Paper And Industrial Converted Products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 99,882 | 96,696 | 104,000 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 99,882 | 96,696 | 104,000 |
Consolidation, Eliminations [Member] | Protective Solutions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 2,607 | 2,127 | 967 |
Intersegment Sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Revenue | ' | ' | ' | ' | ' | ' | ' | ' | $2,607 | $2,127 | $967 |
Segment_Reporting_Restructurin
Segment Reporting - Restructuring Asset Impairment and Acquisition Related Costs (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring, asset impairment and acquisition-related costs | $24,818 | $28,368 | $44,163 |
Consumer Packaging [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring, asset impairment and acquisition-related costs | 14,003 | 9,638 | 19,790 |
Paper And Industrial Converted Products [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring, asset impairment and acquisition-related costs | 6,785 | 12,787 | 6,163 |
Display and Packaging [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring, asset impairment and acquisition-related costs | 2,326 | 2,632 | 4,575 |
Protective Solutions [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring, asset impairment and acquisition-related costs | 1,545 | 2,792 | 4,901 |
Corporate [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Restructuring, asset impairment and acquisition-related costs | $159 | $519 | $8,734 |
Segment_Reporting_Sales_to_Una
Segment Reporting - Sales to Unaffiliated Customers and Long-Lived Assets by Geographic Region (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Apr. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | $1,214,874 | $1,227,749 | $1,226,256 | $1,179,213 | $1,175,870 | $1,195,530 | $1,202,359 | $1,212,370 | $4,848,092 | $4,786,129 | $4,498,932 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived Assets | 2,481,240 | ' | ' | ' | 2,532,908 | ' | ' | ' | 2,481,240 | 2,532,908 | 2,531,700 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 3,231,135 | 3,165,772 | 2,821,043 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived Assets | 1,878,728 | ' | ' | ' | 1,910,824 | ' | ' | ' | 1,878,728 | 1,910,824 | 1,884,897 |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 751,806 | 768,667 | 777,200 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived Assets | 288,407 | ' | ' | ' | 275,884 | ' | ' | ' | 288,407 | 275,884 | 279,969 |
Canada [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 299,243 | 338,657 | 385,805 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived Assets | 205,095 | ' | ' | ' | 229,129 | ' | ' | ' | 205,095 | 229,129 | 253,057 |
All other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales to Unaffiliated Customers | ' | ' | ' | ' | ' | ' | ' | ' | 565,908 | 513,033 | 514,884 |
Long-lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-lived Assets | $109,010 | ' | ' | ' | $117,071 | ' | ' | ' | $109,010 | $117,071 | $113,777 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Income Loss and Changes in Accumulated Other Comprehensive Loss, Net of Tax (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Accumulated Other Comprehensive Loss, Beginning Balance | ($475,826) | ($460,299) |
Other comprehensive income/(loss) before reclassifications | 86,875 | -38,498 |
Other comprehensive income/(loss) | 117,306 | -15,527 |
Accumulated Other Comprehensive Loss, Ending Balance | -358,520 | -475,826 |
Foreign Currency Items [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Accumulated Other Comprehensive Loss, Beginning Balance | 3,234 | -21,277 |
Other comprehensive income/(loss) before reclassifications | -28,386 | 24,511 |
Other comprehensive income/(loss) | -28,386 | 24,511 |
Accumulated Other Comprehensive Loss, Ending Balance | -25,152 | 3,234 |
Defined Benefit Pension Items [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Accumulated Other Comprehensive Loss, Beginning Balance | -472,333 | -430,835 |
Other comprehensive income/(loss) before reclassifications | 111,269 | -61,809 |
Other comprehensive income/(loss) | 139,227 | -41,498 |
Accumulated Other Comprehensive Loss, Ending Balance | -333,106 | -472,333 |
Gains and Losses on Cash Flow Hedges [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Accumulated Other Comprehensive Loss, Beginning Balance | -6,727 | -8,187 |
Other comprehensive income/(loss) before reclassifications | 3,992 | -1,200 |
Other comprehensive income/(loss) | 6,465 | 1,460 |
Accumulated Other Comprehensive Loss, Ending Balance | -262 | -6,727 |
Fixed assets | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 81 | 26 |
Fixed assets | Foreign Currency Items [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 |
Fixed assets | Defined Benefit Pension Items [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 |
Fixed assets | Gains and Losses on Cash Flow Hedges [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 81 | 26 |
Net income | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 30,350 | 22,945 |
Net income | Foreign Currency Items [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 |
Net income | Defined Benefit Pension Items [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | 27,958 | 20,311 |
Net income | Gains and Losses on Cash Flow Hedges [Member] | ' | ' |
Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Amounts reclassified from accumulated other comprehensive loss | $2,392 | $2,634 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cumulative Tax Benefit on Derivative Financial Instruments | $165 | $4,045 | ' |
Increase (Decrease) in Tax Benefit on Derivative Financial Instruments | -3,880 | -979 | ' |
Cumulative Tax Benefit on Defined Benefit Plans | 189,668 | 278,235 | ' |
Increase (Decrease) in Tax Benefit on Defined Benefit Plans | -88,567 | 22,769 | ' |
Defined benefit plan adjustment | -139,227 | 41,498 | 127,798 |
Equity method investments [Member] | ' | ' | ' |
Defined benefit plan adjustment | $1,754 | ($1,206) | ' |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Loss Effects on Net Income of Significant Amounts Reclassified from Accumulated Other Comprehensive Loss (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Apr. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | $1,214,874 | $1,227,749 | $1,226,256 | $1,179,213 | $1,175,870 | $1,195,530 | $1,202,359 | $1,212,370 | $4,848,092 | $4,786,129 | $4,498,932 |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | -3,974,588 | -3,942,497 | -3,742,149 |
Selling, general, and administrative | ' | ' | ' | ' | ' | ' | ' | ' | -487,171 | -463,715 | -397,477 |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | 304,569 | 287,074 | 284,406 |
Tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -96,203 | -103,759 | -78,423 |
Income before equity in earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 208,366 | 183,315 | 205,983 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income before equity in earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -30,350 | -22,945 | ' |
Gains and losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | -3,848 | -4,433 | ' |
Tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 1,456 | 1,799 | ' |
Income before equity in earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -2,392 | -2,634 | ' |
Defined benefit pension items | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | -32,821 | -24,227 | ' |
Selling, general, and administrative | ' | ' | ' | ' | ' | ' | ' | ' | -10,940 | -8,076 | ' |
Total before tax | ' | ' | ' | ' | ' | ' | ' | ' | -43,761 | -32,303 | ' |
Tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 15,803 | 11,992 | ' |
Income before equity in earnings of affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -27,958 | -20,311 | ' |
Foreign exchange contracts [Member] | Gains and losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 4,603 | 336 | ' |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | 2,996 | -870 | ' |
Commodity contracts [Member] | Gains and losses on cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | $5,455 | $5,639 | ' |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data - Selected Quarterly Financial Data (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 29, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jul. 01, 2012 | Apr. 01, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Selected Quarterly Financial Data Selected Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Sales | $1,214,874 | $1,227,749 | $1,226,256 | $1,179,213 | $1,175,870 | $1,195,530 | $1,202,359 | $1,212,370 | $4,848,092 | $4,786,129 | $4,498,932 |
Gross profit | 221,187 | 224,037 | 222,564 | 205,716 | 204,000 | 206,229 | 216,542 | 216,861 | 873,504 | 843,632 | 756,783 |
Restructuring/Asset impairment charges | -6,253 | -5,818 | -8,678 | -4,289 | -8,694 | 444 | -9,396 | -15,212 | 25,038 | 32,858 | 36,826 |
Net income attributable to Sonoco | $54,746 | $61,240 | $54,988 | $48,139 | $42,783 | $58,836 | $51,323 | $43,068 | $219,113 | $196,010 | $217,517 |
Net income attributable to Sonoco: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (usd per share) | $0.53 | $0.60 | $0.54 | $0.47 | $0.42 | $0.58 | $0.50 | $0.42 | $2.14 | $1.93 | $2.15 |
Diluted (usd per share) | $0.53 | $0.59 | $0.53 | $0.47 | $0.42 | $0.57 | $0.50 | $0.42 | $2.12 | $1.91 | $2.13 |
Cash dividends (usd per share) | $0.31 | $0.31 | $0.31 | $0.30 | $0.30 | $0.30 | $0.30 | $0.29 | $1.23 | $1.19 | $1.15 |
Market price - high | $41.82 | $39.80 | $35.93 | $35.05 | $32.51 | $31.67 | $33.91 | $34.83 | ' | ' | ' |
Market price - low | $37.85 | $34.65 | $32.03 | $29.75 | $29 | $28.61 | $29.57 | $31.02 | ' | ' | ' |