Sonoco Products (SON) 10-Q 1 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 19, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-11261
Entity Registrant Name	Sonoco Products Company
Entity Incorporation, State or Country Code	SC
Entity Tax Identification Number	57-0248420
Entity Address, Address Line One	1 N. Second St.
Entity Address, City or Town	Hartsville
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29550
City Area Code	843
Local Phone Number	383-7000
Title of 12(b) Security	No par value common stock
Trading Symbol	SON
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		98,255,819
Amendment Flag	false
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000091767

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	[1]
Current Assets
Cash and cash equivalents	$ 172,213	$ 151,937
Trade accounts receivable, net of allowances	939,724	904,898
Other receivables	102,357	106,644
Inventories, net:
Finished and in process	335,124	324,910
Materials and supplies	413,898	448,591
Prepaid expenses	101,288	113,385
Total Current Assets	2,064,604	2,050,365
Property, Plant and Equipment, Net	1,921,848	1,906,137
Goodwill	1,796,077	1,810,654
Other Intangible Assets, Net	828,085	853,670
Deferred Income Taxes	27,848	31,329
Right of Use Asset-Operating Leases	332,587	314,944
Other Assets	227,231	224,858
Total Assets	7,198,280	7,191,957
Current Liabilities
Payable to suppliers	722,562	707,490
Accrued expenses and other	393,789	400,014
Notes payable and current portion of long-term debt	453,710	47,132
Accrued taxes	7,248	10,641
Total Current Liabilities	1,577,309	1,165,277
Long-term Debt, Net of Current Portion	2,630,424	3,035,868
Noncurrent Operating Lease Liabilities	282,877	265,454
Pension and Other Postretirement Benefits	142,422	142,900
Deferred Income Taxes	99,685	100,788
Other Liabilities	38,081	49,835
Commitments and Contingencies
Common stock, no par value
Authorized 300,000 shares 98,255 and 97,957 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	7,175	7,175
Capital in excess of stated value	159,343	159,047
Accumulated other comprehensive loss	(385,369)	(366,262)
Retained earnings	2,639,209	2,624,380
Total Sonoco Shareholders’ Equity	2,420,358	2,424,340
Noncontrolling Interests	7,124	7,495
Total Equity	2,427,482	2,431,835
Total Liabilities and Equity	$ 7,198,280	$ 7,191,957
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - shares shares in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	300,000	300,000
Common stock, shares issued (in shares)	98,255	97,957
Common stock, shares outstanding (in shares)	98,255	97,957

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Income Statement [Abstract]
Net sales	$ 1,637,543	$ 1,729,783
Cost of sales	1,299,990	1,355,355
Gross profit	337,553	374,428
Selling, general and administrative expenses	193,482	187,976
Restructuring/Asset impairment charges	31,618	28,814
Gain on divestiture of business and other assets	0	72,010
Operating profit	112,453	229,648
Non-operating pension costs	3,295	3,658
Interest expense	31,220	34,232
Interest income	3,558	1,562
Income before income taxes	81,496	193,320
Provision for income taxes	17,360	46,912
Income before equity in earnings of affiliates	64,136	146,408
Equity in earnings of affiliates, net of tax	1,137	1,856
Net income	65,273	148,264
Net (income)/loss attributable to noncontrolling interests	(96)	55
Net income attributable to Sonoco	$ 65,177	$ 148,319
Weighted average common shares outstanding:
Basic (in shares)	98,498	98,167
Diluted (in shares)	99,159	98,615
Net income attributable to Sonoco:
Basic (in usd per share)	$ 0.66	$ 1.51
Diluted (in usd per share)	$ 0.66	$ 1.50

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 65,273	$ 148,264
Other comprehensive (loss)/income:
Foreign currency translation adjustments	(19,786)	31,808
Changes in defined benefit plans, net of tax	43	916
Changes in derivative financial instruments, net of tax	169	2,514
Other comprehensive (loss)/income	(19,574)	35,238
Comprehensive income:	45,699	183,502
Less: Net (income)/loss attributable to noncontrolling interests	(96)	55
Less: Other comprehensive loss/(income) attributable to noncontrolling interests	467	(239)
Comprehensive income attributable to Sonoco	$ 46,070	$ 183,318

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN TOTAL EQUITY (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total		Common Shares	Capital in Excess of Stated Value	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interests
Beginning balance at Dec. 31, 2022	$ 2,072,797		$ 7,175	$ 140,539	$ (430,083)	$ 2,348,183	$ 6,983
Beginning balance (in shares) at Dec. 31, 2022			97,645
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income/(loss)	148,264					148,319	(55)
Other comprehensive (loss)/income
Translation loss	31,808				31,569		239
Defined benefit plan adjustment, net of tax	916				916
Derivative financial instruments, net of tax	2,514				2,514
Other comprehensive (loss) income	35,238				34,999		239
Dividends	(48,203)					(48,203)
Issuance of stock awards	472			472
Issuance of stock awards (in shares)			485
Shares repurchased	(10,576)			(10,576)
Shares repurchased (in shares)			(175)
Share-based compensation	7,573			7,573
Ending balance at Apr. 02, 2023	2,205,565		$ 7,175	138,008	(395,084)	2,448,299	7,167
Ending balance (in shares) at Apr. 02, 2023			97,955
Beginning balance at Dec. 31, 2023	$ 2,431,835	[1]	$ 7,175	159,047	(366,262)	2,624,380	7,495
Beginning balance (in shares) at Dec. 31, 2023	97,957		97,957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income/(loss)	$ 65,273					65,177	96
Other comprehensive (loss)/income
Translation loss	(19,786)				(19,319)		(467)
Defined benefit plan adjustment, net of tax	43				43
Derivative financial instruments, net of tax	169				169
Other comprehensive (loss) income	(19,574)				(19,107)		(467)
Dividends	(50,348)					(50,348)
Issuance of stock awards	204			204
Issuance of stock awards (in shares)			460
Shares repurchased	(9,139)			(9,139)
Shares repurchased (in shares)			(162)
Share-based compensation	8,325			8,325
Other	906			906
Ending balance at Mar. 31, 2024	$ 2,427,482		$ 7,175	$ 159,343	$ (385,369)	$ 2,639,209	$ 7,124
Ending balance (in shares) at Mar. 31, 2024	98,255		98,255
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Cash Flows from Operating Activities:
Net income	$ 65,273	$ 148,264
Adjustments to reconcile net income to net cash provided by operating activities:
Asset impairments	8,346	18,616
Depreciation, depletion and amortization	90,559	82,137
Share-based compensation expense	8,325	7,573
Equity in earnings of affiliates, net	(1,137)	(1,856)
Cash dividends from affiliated companies	41	1,875
Net loss/(gain) on disposition of assets	18	(60,615)
Net gain on divestiture of business and other assets	0	(11,065)
Pension and postretirement plan expense	4,104	4,408
Pension and postretirement plan contributions	(3,989)	(4,931)
Net (decrease)/increase in deferred tax liabilities	(4,869)	1,588
Change in assets and liabilities, net of effects from acquisitions, divestitures and foreign currency adjustments:
Trade accounts receivable	(43,334)	(33,485)
Inventories	18,407	13,549
Payable to suppliers	25,697	(71,553)
Prepaid expenses	(3,572)	350
Income taxes payable and other income tax items	9,436	22,030
Accrued expenses and other assets and liabilities	(7,070)	(18,883)
Net cash provided by operating activities	166,235	98,002
Cash Flows from Investing Activities:
Purchases of property, plant and equipment	(86,458)	(83,401)
Cost of acquisitions, net of cash acquired	(452)	0
Proceeds from the sale of business, net	0	13,839
Proceeds from the sale of assets, net	101	71,405
Investment in affiliated companies	0	(5,000)
Other net investing activities	5,077	190
Net cash used by investing activities	(81,732)	(2,967)
Cash Flows from Financing Activities:
Proceeds from issuance of debt	19,674	9,621
Principal repayment of debt	(21,448)	(84,162)
Net change in commercial paper	0	12,000
Net (decrease)/increase in book cash overdrafts	(1,614)	2,670
Cash dividends	(50,144)	(47,731)
Payments for share repurchases	(9,139)	(10,576)
Net cash used by financing activities	(62,671)	(118,178)
Effects of Exchange Rate Changes on Cash	(1,556)	5,356
Net Increase in Cash and Cash Equivalents	20,276	(17,787)
Cash and cash equivalents at beginning of period	151,937	227,438
Cash and cash equivalents at end of period	$ 172,213	$ 209,651

Basis of Interim Presentation

Basis of Interim Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Interim Presentation	Basis of Interim Presentation In the opinion of the management of Sonoco Products Company (the “Company” or “Sonoco”), the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments, unless otherwise stated) necessary to state fairly the consolidated financial position, results of operations and cash flows for the interim periods reported herein. Operating results for the three-month period ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which modifies the rules on income tax disclosures to require disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. The Company is currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The purpose of the amendment is to enable investors to better understand an entity’s overall performance and assess potential future cash flows. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. The Company will begin providing the enhanced reportable segment financial disclosures effective with its Annual Report on Form 10-K for the year ending December 31, 2024. In September 2022, the FASB issued ASU 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” The amendments in this ASU require that a buyer in a supplier finance program disclose qualitative and quantitative information about its supplier finance programs in each annual reporting period, including a description of key payment terms, amounts outstanding, and a rollforward of the outstanding obligation. In each interim reporting period, the amount outstanding requires disclosure. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. The Company adopted this standard in the first quarter of 2023, with the exception of the amendment on rollforward information, which will be provided in the Company’s Annual Report on Form 10-K for the year ending December 31, 2024. During the three-month period ended March 31, 2024, there were no other newly issued or newly applicable accounting pronouncements that had, or are expected to have, a material impact on the Company’s financial statements. Further, at March 31, 2024, there were no other pronouncements pending adoption that are expected to have a material impact on the Company’s condensed consolidated financial statements.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisitions As previously disclosed, on December 1, 2023, the Company completed the acquisition of Inapel Embalagens Ltda. (“Inapel”), a manufacturer of single-layer and multilayer materials for flexible packaging in Brazil, for net consideration of $64,544, including $59,228 of cash paid at closing and additional obligations to the seller totaling $5,316 that will be paid throughout 2024. This additional purchase consideration is recorded in “Payable to suppliers” in the Company’s Condensed Consolidated Balance Sheet as of March 31, 2024. With the acquisition of Inapel, the Company added approximately 500 employees and two manufacturing locations in the São Paulo region of Brazil. The financial results of Inapel are included in the Company’s Consumer Packaging segment . The Company’s initial allocation of the assets acquired and liabilities assumed in the acquisition of Inapel, as well as revised preliminary fair values reflecting adjustments made during the measurement period, are as follows: Initial Allocation Measurement Period Adjustments Preliminary Allocation Trade accounts receivable $ 30,301 $ (133) $ 30,168 Other receivables 6,088 70 6,158 Inventories 9,269 — 9,269 Prepaid expenses 1,430 — 1,430 Property, plant and equipment 11,456 17,459 28,915 Right of use asset - operating leases 217 — 217 Other intangible assets 8,653 (1,094) 7,559 Goodwill 15,704 (7,130) 8,574 Other assets 793 — 793 Payable to suppliers (15,899) 3,058 (12,841) Accrued expenses and other (5,733) (1,350) (7,083) Noncurrent operating lease liabilities (117) — (117) Deferred income taxes (2,934) (5,564) (8,498) Total purchase price, net of cash acquired $ 59,228 $ 5,316 $ 64,544 The allocation of the purchase price of Inapel to the tangible and intangible assets acquired and liabilities assumed, as reflected under the heading “Preliminary Allocation” in the table above, is based on the Company’s preliminary determinations of fair value using information currently available. Management is continuing to finalize its valuation of certain assets and liabilities including, but not limited to, inventory; property, plant and equipment; goodwill; other intangible assets; and deferred income taxes. The Company expects to complete its valuations within one year of the date of acquisition. Goodwill for Inapel, none of which is expected to be deductible for income tax purposes, is primarily attributable to the assembled workforce and synergies of the combined organization. On September 8, 2023, the Company completed the acquisition of the remaining 65% interest in RTS Packaging, LLC (“RTS Packaging”) from joint venture partner WestRock Company (“WestRock”) and the acquisition of a paper mill in Chattanooga, Tennessee (the “Chattanooga Mill”) from WestRock for net cash consideration of $313,388. In December 2023, the Company agreed to a final working capital settlement of $452, which was paid to WestRock in January 2024. Prior to completing the acquisitions, the Company held a 35% ownership interest in the RTS Packaging joint venture which was formed in 1997 and combined the former protective packaging operations of WestRock and Sonoco to market recycled paperboard to glass container manufacturers and producers of wine, liquor, food, and pharmaceuticals. The financial results of RTS Packaging and the Chattanooga Mill are included in the Company’s Industrial Paper Packaging segment. The following table provides a summary of the purchase consideration (as defined under Accounting Standards Codification (“ASC”) 805) transferred for the acquisitions of the remaining interest in RTS Packaging and the Chattanooga Mill: Purchase Consideration Cash consideration, net of cash acquired $ 313,388 Fair value of previously held interest in RTS Packaging 59,472 Final working capital adjustment 452 Settlement of preexisting relationships 1,235 Purchase consideration transferred $ 374,547 The Company’s initial allocation of the assets acquired and liabilities assumed in the acquisitions of the remaining interest in RTS Packaging and the Chattanooga Mill, as well as revised preliminary fair values reflecting adjustments made during the measurement period, are as follows: Initial Allocation Measurement Period Adjustments Preliminary Allocation Trade accounts receivable $ 17,488 $ — $ 17,488 Other receivables — — — Inventories 20,209 (947) 19,262 Prepaid expenses 2,720 (589) 2,131 Property, plant and equipment 73,483 753 74,236 Right of use asset - operating leases 34,604 290 34,894 Other intangible assets 199,560 (8,995) 190,565 Goodwill 92,657 14,909 107,566 Other assets 2,465 (412) 2,053 Payable to suppliers (7,320) — (7,320) Accrued expenses and other (15,167) (25) (15,192) Notes payable and current portion of long-term debt (24) — (24) Noncurrent operating lease liabilities (29,905) — (29,905) Pension and other postretirement benefits (10,761) (768) (11,529) Long-term debt (1,942) — (1,942) Deferred income taxes (3,419) (2,502) (5,921) Other long-term liabilities (3,293) 1,478 (1,815) Net assets acquired $ 371,355 $ 3,192 $ 374,547 The initial allocation of the purchase price of the remaining interest in RTS Packaging and the Chattanooga Mill to the tangible and intangible assets acquired and liabilities assumed, as reflected in the table above, is based on the Company’s preliminary determination of their fair values using information currently available. Management is continuing to finalize its valuation of certain assets and liabilities including, but not limited to, inventory; property, plant and equipment; goodwill; other intangible assets; and deferred income taxes. The Company expects to complete its valuations within one year of the date of acquisition. Goodwill for RTS Packaging and the Chattanooga Mill, of which $87,191 is expected to be deductible for income tax purposes, is primarily attributable to the synergies of the combined organization and the assembled workforce. The Company has accounted for these acquisitions as business combinations under the acquisition method and has included the results of operations of the acquired businesses in the Company’s Condensed Consolidated Statements of Income for the three-month period ended March 31, 2024. The Company believes that these acquisitions were not material to the periods presented and are therefore not subject to the ASC 805 requirement to provide supplemental pro-forma financial information. Accordingly, this information is not presented herein. Divestiture of Businesses On April 1, 2024, subsequent to the end of the first quarter, the Company completed the sale of its Protective Solutions business (“Protexic”), which was part of the All Other group of businesses, to Black Diamond Capital Management, LLC for cash proceeds of $81,795. This business provided foam components and integrated material solutions for various industrial end markets. This sale was the result of the Company’s continuing evaluation of its business portfolio and is consistent with the Company’s strategic and investment priorities. The Company is finalizing its calculation but estimates that the gain on the disposition will be approximately $3,000 after recognizing foreign currency translation losses and remaining selling costs. The Company used the majority of the cash proceeds from the sale to pay down debt. The sale of the Protexic business did not represent a strategic shift for the Company and will not have a major effect on its operations or financial results. Consequently, this sale will not meet the criteria for reporting as a discontinued operation. On January 26, 2023, the Company completed the sale of its Sonoco Sustainability Solutions (“S3”) business, a provider of customized waste and recycling management programs and part of the Company’s Industrial Paper Packaging segment, to Northstar Recycling Co. (“Northstar”), for total cash proceeds of $13,839. An additional $1,500 of proceeds are being held in escrow and are expected to be released to the Company, pursuant to any indemnification claims, twenty months following the date of the divestiture. The Company wrote off net assets totaling $4,274 as part of the divestiture of the business, including $3,042 of allocated goodwill, and recognized a pretax gain of $11,065 during the first quarter of 2023, which is included in “Gain on divestiture of business and other assets” in the Company’s Condensed Consolidated Statements of Income. The escrow balance is reflected as a long-term receivable in “Other assets” in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2024. The Company is also entitled to receive additional proceeds of $3,200 in the second quarter of 2024 if certain conditions are met. This contingent consideration will be recognized as an additional gain on the sale at the point the contingencies are resolved. On January 26, 2023, in connection with the sale of the S3 business, the Company acquired a 2.7% equity interest in Northstar valued at $5,000. This investment is being accounted for under the measurement alternative (i.e., cost less impairment, adjusted for any qualifying observable price changes). The sale of the S3 business did not represent a strategic shift for the Company or have a major effect on its operations or financial results. Consequently, this sale did not meet the criteria for reporting as a discontinued operation. Sale of Assets With the completion of Project Horizon, the Company’s project to convert the corrugated medium machine in Hartsville, South Carolina, to produce uncoated recycled paperboard, the Company now produces paper exclusively from recycled fibers and no longer requires natural tree fiber for production. Accordingly, on March 29, 2023, the Company sold its timberland properties, totaling approximately 55,000 acres, to Manulife Investment Management for net cash proceeds of $70,802. The Company disposed of assets with a net book value of $9,857 as part of the sale, and recognized a pretax gain from the sale of these assets of $60,945 during the three-month period ended April 2, 2023, which is included in “Gain on divestiture of business and other assets” in the Company’s Condensed Consolidated Statements of Income. Acquisition, Integration, and Divestiture-Related Costs Acquisition, integration, and divestiture-related costs totaled $5,661 and $5,188 during the three-month periods ended March 31, 2024 and April 2, 2023, respectively. These costs include legal and professional fees, as well as employee-related and other integration activity costs that are included in “Selling, general and administrative expenses” in the Company’s Condensed Consolidated Statements of Income.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Earnings per Share The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended March 31, 2024 April 2, 2023 Numerator: Net income attributable to Sonoco $ 65,177 $ 148,319 Denominator: Weighted average common shares outstanding: Basic 98,498 98,167 Dilutive effect of share-based compensation 661 448 Diluted 99,159 98,615 Net income attributable to Sonoco per common share: Basic $ 0.66 $ 1.51 Diluted $ 0.66 $ 1.50 Cash dividends $ 0.51 $ 0.49 No adjustments were made to “Net income attributable to Sonoco” in the computations of net income attributable to Sonoco per common share. Anti-dilutive Securities Potentially dilutive securities are calculated in accordance with the treasury stock method, which assumes the proceeds from the exercise of all dilutive stock appreciation rights (“SARs”) are used to repurchase the Company’s common stock. Certain SARs are not dilutive because either the exercise price is greater than the average market price of the stock during the reporting period or assumed repurchases from proceeds from the exercise of the SARs were anti-dilutive. These SARs may become dilutive in the future if the market price of the Company’s common stock appreciates. The average numbers of SARs that were anti-dilutive and, therefore, not included in the computation of diluted earnings per share during the three-month periods ended March 31, 2024 and April 2, 2023 were as follows (in thousands): Three Months Ended March 31, 2024 April 2, 2023 Anti-dilutive stock appreciation rights 340 343 Stock Repurchases On April 20, 2021, the Company’s Board of Directors (the “Board”) authorized the repurchase of the Company’s common stock in an aggregate amount of up to $350,000. Following several repurchase transactions in 2021, a total of $137,972 remained available for share repurchases under this authorization as of December 31, 2021. No shares were repurchased under this authorization during the years ended December 31, 2023 or 2022 or the three-month period ended March 31, 2024. The Company regularly repurchases shares of its common stock to satisfy employee tax withholding obligations in association with certain share-based compensation awards. These repurchases, which are not part of a publicly announced plan or program, totaled 162 shares during the three-month period ended March 31, 2024, at a cost of $9,139, and 175 shares during the three-month period ended April 2, 2023, at a cost of $10,576. Dividend Declarations On February 14, 2024, the Board declared a regular quarterly dividend of $0.51 per share. This dividend was paid on March 8, 2024 to all shareholders of record as of February 28, 2024. On April 17, 2024, the Board declared a regular quarterly dividend of $0.52 per share. This dividend is payable on June 10, 2024 to all shareholders of record as of May 10, 2024.

Restructuring and Asset Impairm

Restructuring and Asset Impairments	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Asset Impairments	Restructuring and Asset Impairments Due to its geographic footprint and the cost-competitive nature of its businesses, the Company is continually seeking more cost-effective means and structures to serve its customers and to respond to changes in its markets. As such, restructuring costs have been, and are expected to be, a recurring component of the Company’s operating costs. The amount of these costs can vary significantly from quarter to quarter and from year to year depending upon the scope, nature, and location of the restructuring activities. Following are the total restructuring and asset impairment charges, net of adjustments, recognized during the periods presented: Three Months Ended March 31, 2024 April 2, 2023 Restructuring/Asset impairment charges $ 31,618 $ 28,814 The table below sets forth restructuring and restructuring-related asset impairment charges by type incurred: Three Months Ended March 31, 2024 April 2, 2023 Severance and termination benefits $ 17,993 $ 5,516 Asset impairments 8,844 19,193 Other costs 4,781 4,105 Restructuring and restructuring-related asset impairment charges $ 31,618 $ 28,814 The table below sets forth restructuring and restructuring-related asset impairment charges attributable to each reportable segment, the “All Other” group of businesses, and Corporate-related activity: Three Months Ended March 31, 2024 April 2, 2023 Consumer Packaging $ 4,925 $ 2,680 Industrial Paper Packaging 22,603 24,544 All Other 1,148 53 Corporate 2,942 1,537 Restructuring and restructuring-related asset impairment charges $ 31,618 $ 28,814 Restructuring and restructuring-related asset impairment charges are included in “Restructuring/Asset impairment charges” in the Company’s Condensed Consolidated Statements of Income. The following table sets forth the activity in the restructuring accrual included in “Accrued expenses and other” in the Company’s Condensed Consolidated Balance Sheets: Severance Asset Other Total Accrual Activity Liability at December 31, 2023 $ 14,315 $ — $ 1,638 $ 15,953 2024 charges 17,993 8,844 4,781 31,618 Cash payments (6,314) (498) (2,218) (9,030) Asset writedowns/disposals — (8,346) — (8,346) Foreign currency translation (81) — (15) (96) Liability at March 31, 2024 $ 25,913 $ — $ 4,186 $ 30,099 “Severance and termination benefits” during the first three months of 2024 includes the cost of severance for approximately 95 employees whose positions were eliminated in conjunction with the Company’s ongoing organizational effectiveness efforts, including the relocation of certain facilities in Greece and Germany, and severance related to the closures of paper mills in Sumner, Washington (the “Sumner Mill”) and Kilkis, Greece, the closures of two small industrial converted products facilities in China, and the planned closure of an industrial converted products facility in Mississauga, Canada, all part of the Industrial Paper Packaging segment. “Asset impairments” during the first three months of 2024 consists primarily of asset impairment charges related to the closure of the Sumner Mill. “Other costs” during the first three months of 2024 consists primarily of equipment removal, utilities, plant security, property taxes, insurance and environmental remediation costs related to the closure of the Sumner Mill, and ongoing facility carrying costs of plant closures in the prior year. The Company expects to pay the majority of the remaining restructuring reserves by the end of 2024 using cash generated from operations. The Company also expects to recognize future additional charges totaling approximately $5,300 in connection with previously announced restructuring actions and believes that the majority of these charges will be incurred and paid by the end of 2024. The Company continually evaluates its cost structure, including its manufacturing capacity, and additional restructuring actions are likely to be undertaken.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table summarizes the components of accumulated other comprehensive loss and the changes in the balances of each component of accumulated other comprehensive loss, net of tax as applicable, for the three-month periods ended March 31, 2024 and April 2, 2023: Foreign Defined Cash Accumulated Balance at December 31, 2023 $ (267,578) $ (99,627) $ 943 $ (366,262) Other comprehensive (loss)/income before reclassifications (19,319) (932) 518 (19,733) Amounts reclassified from accumulated other comprehensive loss to net income — 975 (349) 626 Other comprehensive (loss)/income (19,319) 43 169 (19,107) Balance at March 31, 2024 $ (286,897) $ (99,584) $ 1,112 $ (385,369) Balance at December 31, 2022 $ (338,316) $ (90,973) $ (794) $ (430,083) Other comprehensive income/(loss) before reclassifications 31,569 (393) 2,645 33,821 Amounts reclassified from accumulated other comprehensive loss to net income — 1,309 (431) 878 Amounts reclassified from accumulated other comprehensive loss to property, plant, and equipment — — 300 300 Other comprehensive income 31,569 916 2,514 34,999 Balance at April 2, 2023 $ (306,747) $ (90,057) $ 1,720 $ (395,084) The following table summarizes the effects on net income of significant amounts reclassified from each component of accumulated other comprehensive loss for the three-month periods ended March 31, 2024 and April 2, 2023: Amount Reclassified from Accumulated Three Months Ended Details about Accumulated Other March 31, April 2, Affected Line Item in Gains/(losses) on cash flow hedges Foreign exchange contracts (a) $ 436 $ 1,062 Net sales Foreign exchange contracts (a) (75) (454) Cost of sales Commodity contracts (a) — (32) Cost of sales 361 576 Income before income taxes Income tax impact (12) (145) Provision for income taxes 349 431 Net income Defined benefit pension items Effect of settlement loss (b) — (686) Non-operating pension costs Amortization of defined benefit pension items (b) (1,230) (1,071) Non-operating pension costs (1,230) (1,757) Income before income taxes Income tax impact 255 448 Provision for income taxes (975) (1,309) Net income Total reclassifications for the period $ (626) $ (878) Net income (a) See Note 9 for additional details. (b) See Note 11 for additional details. The following table summarizes the before and after tax amounts for the various components of other comprehensive income/(loss) for the three-month periods ended March 31, 2024 and April 2, 2023: Three Months Ended March 31, 2024 Three Months Ended April 2, 2023 Before Tax Tax After Tax Before Tax Tax After Tax Foreign currency items: Net other comprehensive (loss)/income from foreign currency items $ (16,788) $ (2,531) $ (19,319) $ 31,569 $ — $ 31,569 Defined benefit pension items: Other comprehensive (loss)/income before reclassifications (876) (56) (932) (760) 367 (393) Amounts reclassified from accumulated other comprehensive loss to net income (a) 1,230 (255) 975 1,757 (448) 1,309 Net other comprehensive income/(loss) from defined benefit pension items 354 (311) 43 997 (81) 916 Gains and losses on cash flow hedges: Other comprehensive income/(loss) before reclassifications 536 (18) 518 3,536 (891) 2,645 Amounts reclassified from accumulated other comprehensive loss to net income (b) (361) 12 (349) (576) 145 (431) Amounts reclassified from accumulated other comprehensive loss to property, plant and equipment — — — 401 (101) 300 Net other comprehensive income/(loss) from cash flow hedges 175 (6) 169 3,361 (847) 2,514 Other comprehensive (loss)/income $ (16,259) $ (2,848) $ (19,107) $ 35,927 $ (928) $ 34,999 (a) See Note 11 for additional details. (b) See Note 9 for additional details.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill A summary of the changes in goodwill for the three-month period ended March 31, 2024 is as follows: Consumer Industrial Paper Packaging All Other Total Goodwill at December 31, 2023 $ 1,056,241 $ 506,406 $ 248,007 $ 1,810,654 Foreign currency translation (4,427) (2,808) (212) (7,447) Measurement period adjustments (7,130) — — (7,130) Goodwill at March 31, 2024 $ 1,044,684 $ 503,598 $ 247,795 $ 1,796,077 Goodwill activity reflected under the caption “Measurement period adjustments” relates to the prior year acquisition of Inapel. See Note 3 for additional information. The Company assesses goodwill for impairment annually during the third quarter, or from time to time when warranted by the facts and circumstances surrounding individual reporting units or the Company as a whole. The Company completed its most recent annual goodwill impairment testing during the third quarter of 2023 and analyzed certain qualitative and quantitative factors in determining whether a goodwill impairment existed. The Company’s assessments reflected a number of significant management assumptions and estimates including the Company’s forecast of sales growth, gross profit margins, and discount rates. Changes in these assumptions could materially impact the Company’s conclusions. Based on its assessments, the Company concluded that there was no impairment of goodwill for any of its reporting units. Although no reporting units failed the annual impairment test, in management’s opinion the goodwill balance of the Plastics-Medical reporting unit is at risk of impairment in the near term if the reporting unit’s operations do not perform in line with management’s expectations, or if there is a negative change in the long-term outlook for the business or in other factors such as the discount rate. At March 31, 2024, the total goodwill associated with the Plastics-Medical reporting unit was $63,991. During the time subsequent to the annual evaluation, and at March 31, 2024, the Company considered whether any events and/or changes in circumstances had resulted in the likelihood that the goodwill of any of its reporting units may have been impaired. It is management’s opinion that no such events and/or changes in circumstances have occurred. Other Intangible Assets A summary of other intangible assets as of March 31, 2024 and December 31, 2023 is as follows: March 31, December 31, Other Intangible Assets, gross: Patents $ 29,297 $ 29,304 Customer lists 1,277,948 1,282,689 Trade names 41,738 41,836 Proprietary technology 56,848 56,857 Other 6,820 6,916 Total Other Intangible Assets, gross $ 1,412,651 $ 1,417,602 Accumulated Amortization: Patents $ (19,956) $ (19,549) Customer lists (511,699) (493,778) Trade names (20,146) (18,845) Proprietary technology (29,971) (29,013) Other (2,794) (2,747) Total Accumulated Amortization (584,566) (563,932) Other Intangible Assets, net $ 828,085 $ 853,670 During the first quarter of 2024, the Company recorded measurement period adjustments related to the December 1, 2023 acquisition of Inapel that reduced the previously reported fair value of customer lists by $1,094. The effect on amortization expense in the prior period was immaterial. See Note 3 for additional information. Other intangible assets are amortized using the straight-line method over their respective useful lives when management has determined that the straight-line method approximates the pattern of consumption of the respective intangible assets or in relation to the asset’s specific pattern of consumption if management has determined that the straight-line method does not provide a fair approximation of the consumption of benefits. These lives generally range from three Aggregate amortization expense was $22,939 and $21,164 for the three-month periods ended March 31, 2024 and April 2, 2023, respectively. Amortization expense on other intangible assets is expected to total approximately $90,200 in 2024, $78,900 in 2025, $75,000 in 2026, $73,900 in 2027 and $72,900 in 2028.

Supply Chain Financing

Supply Chain Financing	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Supply Chain Financing	Supply Chain Financing The Company facilitates voluntary supply chain financing programs (the “SCF Programs”) to provide certain of its suppliers with the opportunity to sell receivables due from the Company to the participating financial institutions in the programs. Such sales are conducted at the sole discretion of both the suppliers and the financial institutions on a nonrecourse basis at a rate that leverages the Company’s credit rating and thus might be more beneficial to the supplier. No guarantees are provided by the Company or any of its subsidiaries under the SCF Programs. The Company’s responsibility under the agreements is limited to making payment to the financial institutions for confirmed invoices based on the terms originally negotiated with its suppliers. Both the Company and the financial institutions have the right to terminate the SCF Programs by providing 30 days prior written notice to the other party. The Company does not enter into any agreements with suppliers regarding their participation in the SCF Programs. The following table sets forth the balance sheet location and values of the Company’s SCF Program obligations at March 31, 2024 and December 31, 2023: Balance Sheet Line Item March 31, 2024 December 31, 2023 Payable to suppliers (a) $ 35,645 $ 35,847 (a) The payment of these obligations is included in net cash provided by operating activities in the Company’s Condensed Consolidated Statements of Cash Flows.

Financial Instruments and Deriv

Financial Instruments and Derivatives	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [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 for which the carrying amount differs from the fair value. March 31, 2024 December 31, 2023 Carrying Fair Carrying Fair Long-term debt, net of current portion $ 2,630,424 $ 2,485,816 $ 3,035,868 $ 2,890,009 The carrying value of cash and cash equivalents and short-term debt approximates fair value. The fair value of long-term debt is determined 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 which is considered a Level 2 fair value measurement. Cash Flow Hedges At March 31, 2024 and December 31, 2023, the Company had derivative financial instruments outstanding to hedge anticipated transactions and certain asset and liability related cash flows. These contracts, w hich have maturities ranging from April 2024 to December 2024, qualify as cash flow hedges under U.S. generally accepted accounting principles (“GAAP”). For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. Cash flows from derivative financial instruments designated as cash flow hedges are classified as cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows. Commodity Cash Flow Hedges Certain derivative contracts entered into to manage the cost of anticipated purchases of natural gas and aluminum have been designated by the Company as cash flow hedges. At March 31, 2024, these contracts included natural gas swaps covering approximately 0.05 million m etric million British thermal units (“MMBTUs”). These contracts represented approximatel y 0.9% o f anticipated usage in North America for 2024 . The Company also has certain natural gas hedges that it does not treat as cash flow hedges. See “Non-Designated Derivatives” below for a discussion of these hedges. At March 31, 2024 , the Company had also designated swap contracts covering 355 metric tons of aluminum as cash flow hedges. The fair value of the Company’s commodity cash flow hedges netted to loss positions of $(66) and $(41) at March 31, 2024 and December 31, 2023, respectively. The amount of the loss included in accumulated other comprehensive loss at March 31, 2024 expected to be reclassified to the income statement during the next twelve months is $(66). Foreign Currency Cash Flow Hedges The Company has entered into forward contracts to hedge certain anticipated foreign currency denominated sales and purchases expected to occur in 2024 and 2025. The net positions of these contracts at March 31, 2024 were as follows (in thousands): Currency Action Quantity Colombian peso purchase 16,966,782 Mexican peso purchase 429,499 Polish zloty purchase 98,802 Danish krone purchase 34,765 Swedish krona sell (4,855) Czech koruna purchase 86,121 Canadian dollar purchase 25,729 Euro purchase 1,744 Turkish lira purchase 43,173 Brazilian real purchase 41,819 British pound sell (800) The fair value of foreign currency cash flow hedges related to forecasted sales and purchases netted to gain positions of $1,697 and $1,502 at March 31, 2024 and December 31, 2023, respectively. Gains of $1,697 are expected to be reclassified from accumulated other comprehensive income to the income statement during the next twelve months. Net Investment Hedge During the fourth quarter of 2023, the Company became a party to cross-currency swap agreements with a total notional amount of $500,000 to effectively convert a portion of the Company’s fixed-rate U.S. dollar denominated debt, including the semi-annual interest payments, to fixed-rate euro-denominated debt. The swap agreements, which have a maturity of December 18, 2026, provide for the Company to receive semi-annual interest payments in U.S. dollars at a fixed rate and to make semi-annual interest payments in euros at a fixed rate. The risk management objective of entering into the swap agreements is to manage foreign currency risk relating to net investments in certain European subsidiaries denominated in euros. The agreements are designated as net investment hedges for accounting purposes. The gain or loss on the net investment hedge derivative instrument is included in the “Foreign currency translation” component of “Accumulated other comprehensive loss” until the net investment is sold, diluted, or liquidated. Interest payments received for the cross-currency swaps are excluded from the net investment hedge effectiveness assessment and are recorded in “Interest expense” in the Company’s Condensed Consolidated Statements of Income. The assumptions used in measuring fair value of the cross-currency swaps are considered level 2 inputs, which are based upon the Euro-to-U.S. dollar exchange rate market. The fair value of the Company’s net investment hedges was a gain position of $4,850 and a loss position of $5,073 at March 31, 2024 and December 31, 2023, respectively. A translation gain of $3,613 (net of income taxes of $1,237) and a translation loss of $3,779 (net of income taxes of $1,294) were reported as components of “Accumulated other comprehensive loss” within “Foreign currency items” at March 31, 2024 and December 31, 2023, respectively. As a result of continued strengthening of the U.S. dollar against the euro, as well as a reduction in the differential between U.S. and European interest rates, the fair value of the Company’s net investment hedge continued to appreciate into the month of April 2024. On April 15, 2024, subsequent to the end of the first quarter of 2024, the Company terminated the swap agreements and received a cash settlement of $11,634. The foreign currency translation gain of approximately $3,143, net of tax, will be included as a component of “Accumulated other comprehensive loss” in the second quarter of 2024. Following the unwind of the swaps, the Company entered into new cross-currency swap agreements with a total notional amount of $500,000 to effectively convert a portion of the Company’s fixed-rate U.S. dollar-denominated debt, including the semi-annual interest payments, to fixed-rate euro-denominated debt. The new swap agreements have a maturity of May 1, 2027. Non-Designated Derivatives The Company routinely enters into other derivative contracts which are not designated for hedge accounting treatment under ASC 815. As such, changes in fair value of these non-designated derivatives are recorded directly to income and expense in the periods that they occur. Cash flows from derivative financial instruments not designated as hedges are classified as cash flows from operating activities in the Condensed Consolidated Statements of Cash Flows. Foreign Currency Hedges The Company routinely enters into forward contracts or swaps to economically hedge the currency exposure of intercompany debt and foreign currency denominated receivables and payables. The net currency positions of these non-designated contracts at March 31, 2024, were as follows (in thousands): Currency Action Quantity Indonesian rupiah purchase 19,814,218 Colombian peso purchase 67,308,931 Mexican peso purchase 412,841 Canadian dollar purchase 7,981 Commodity Hedges The Company has entered into non-designated derivative contracts to manage the cost of a nticipated purchases of natural gas. At March 31, 2024, these contracts consisted of natural gas swaps covering approximately 6.6 million MMBTUs and represented approximately 87% and 33% of anticipated usage for 2024 and 2025, respectively. The fair value of the Company’s non-designated derivatives position was a loss of $(6,690) a nd $(6,790) at March 31, 2024 and December 31, 2023, respectively. The following table sets forth the location and fair values of the Company’s derivative instruments at March 31, 2024 and December 31, 2023: Description Balance Sheet Location March 31, 2024 December 31, 2023 Derivatives designated as hedging instruments: Commodity Contracts Prepaid expenses $ 28 $ 67 Commodity Contracts Accrued expenses and other (94) (108) Foreign Exchange Contracts Prepaid expenses 2,323 2,525 Foreign Exchange Contracts Accrued expenses and other (626) (1,024) Net Investment Hedge Prepaid expense 4,192 5,567 Net Investment Hedge Other assets 744 — Net Investment Hedge Other liabilities (86) (10,640) Derivatives not designated as hedging instruments: Commodity Contracts Prepaid expenses $ 103 $ 12 Commodity Contracts Other assets 250 — Commodity Contracts Accrued expenses and other (6,666) (6,782) Commodity Contracts Other liabilities (176) — Foreign Exchange Contracts Prepaid expenses 5 130 Foreign Exchange Contracts Accrued expenses and other (206) (159) 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 tables set forth the effect of the Company’s derivative instruments on financial performance for the three-month periods ended March 31, 2024 and April 2, 2023, excluding the amount of 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 Amount of Gain or Derivatives in Cash Flow Hedging Relationships: Three-month period ended March 31, 2024 Foreign Exchange Contracts $ 561 Net sales $ 436 Cost of sales (75) Commodity Contracts $ (25) Cost of sales $ — Three-month period ended April 2, 2023 Foreign Exchange Contracts $ 3,613 Net sales $ 1,062 Cost of sales (454) Commodity Contracts $ (77) Cost of sales $ (32) Description Gain or (Loss) Location of Gain or (Loss) Recognized in Derivatives not Designated as Hedging Instruments: Three-month period ended March 31, 2024 Commodity Contracts $ (2,558) Cost of sales Foreign Exchange Contracts $ 305 Selling, general and administrative Three-month period ended April 2, 2023 Commodity Contracts $ (9,708) Cost of sales Foreign Exchange Contracts $ 2,137 Selling, general and administrative Three-month period ended March 31, 2024 Three-month period ended April 2, 2023 Description Revenue Cost of Revenue Cost of Total amount of income and expense line items presented in the Condensed Consolidated Statements of Income $ 436 $ (75) $ 1,062 $ (486) Gain or (loss) on cash flow hedging relationships: Foreign exchange contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive loss into net income $ 436 $ (75) $ 1,062 $ (454) Commodity contracts: Amount of gain reclassified from accumulated other comprehensive loss into net income $ — $ — $ — $ (32)

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as an 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. Assets that are calculated at Net Asset Value per share (“NAV”) are not required to be categorized within the fair value hierarchy. The following table sets forth information regarding the Company’s financial assets and financial liabilities, excluding retirement and postretirement plan assets, measured at fair value on a recurring basis: Description March 31, 2024 Assets measured Level 1 Level 2 Level 3 Hedge derivatives, net: Commodity contracts $ (66) $ — $ — $ (66) $ — Foreign exchange contracts $ 1,697 $ — $ — $ 1,697 $ — Net investment hedge $ 4,850 $ — $ — $ 4,850 $ — Non-hedge derivatives, net: Commodity contracts $ (6,489) $ — $ — $ (6,489) $ — Foreign exchange contracts $ (201) $ — $ — $ (201) $ — Description December 31, 2023 Assets measured Level 1 Level 2 Level 3 Hedge derivatives, net: Commodity contracts $ (41) $ — $ — $ (41) $ — Foreign exchange contracts $ 1,502 $ — $ — $ 1,502 $ — Net investment hedge $ (5,073) $ — $ — $ (5,073) $ — Non-hedge derivatives, net: Commodity contracts $ (6,770) $ — $ — $ (6,770) $ — Foreign exchange contracts $ (29) $ — $ — $ (29) $ — As discussed in Note 9, the Company uses derivatives to mitigate the effect of commodity 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. None of the Company’s financial assets or liabilities are 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 three-month period ended March 31, 2024. The Company measures certain non-financial assets and non-financial liabilities at fair value on a non-recurring basis. See Note 3 for a discussion of assets acquired and liabilities assumed in acquisitions and Note 5 for a

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [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 certain of its employees in the United States, Mexico, Belgium, Germany, Greece, France, and Turkey. The Company also sponsors contributory defined benefit pension plans covering certain of its employees in the United Kingdom, Canada and the Netherlands, and 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/(income) include the following: Three Months Ended March 31, 2024 April 2, 2023 Retirement Plans Service cost $ 755 $ 687 Interest cost 4,709 4,294 Expected return on plan assets (2,796) (2,444) Amortization of prior service cost 205 219 Amortization of net actuarial loss 1,075 1,045 Effect of settlement loss — 686 Net periodic benefit cost $ 3,948 $ 4,487 Retiree Health and Life Insurance Plans Service cost $ 54 $ 62 Interest cost 250 130 Expected return on plan assets (98) (79) Amortization of prior service cost 96 — Amortization of net actuarial gain (146) (193) Net periodic benefit cost/(income) $ 156 $ (80) Settlement Charges The Company recognized settlement ch arges of $686 during the three-month period ended April 2, 2023. These charges resulted from payments made to certain participants in the Company’s non-union Canadian pension plan who elected a lump sum distribution option upon retirement. No settlement charges were recognized during the three-month period ended March 31, 2024. Contributions The Company made aggregate contributions of $3,989 and $4,931 to its defined benefit retirement and retiree health and life insurance plans during the three-month periods ended March 31, 2024 and April 2, 2023, respectively. The Company expects to make additional aggregate contributions of approximately $16,300 to its defined benefit retirement and retiree health and life insurance plans over the remainder of 2024.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rates for the three-month periods ended March 31, 2024 and April 2, 2023 were 21.3% and 24.3%, respectively. The Company’s effective tax rates varied from the U.S. statutory rate due primarily to rate differences between U.S. and non-U.S. jurisdictions and the relative amounts earned in those jurisdictions, state income taxes, and discrete tax adjustments. 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 income tax examinations by tax authorities for years prior to 2017.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases The Company routinely enters into leasing arrangements for real estate (including manufacturing facilities, office space, and warehouses), transportation equipment (automobiles, forklifts, and trailers), and office equipment (copiers and postage machines). The assessment of the certainty associated with the exercise of various lease renewal, termination, and purchase options included in the Company’s lease contracts is performed after contemplating all the relevant facts and circumstances in accordance with guidance under ASC 842 - “Leases.” Most of the Company’s real estate leases, in particular, include one or more options to renew, with renewal terms that typically extend the lease term in increments from one As the implicit rate in the Company’s leases is normally not readily determinable, the Company generally calculates its lease liabilities using discount rates based upon the Company’s incremental secured borrowing rate, which contemplates and reflects a particular geographical region’s interest rate for the leases active within that region of the Company’s global operations. The Company further utilizes a portfolio approach by assigning a “short” rate to contracts with lease terms of 10 years or less and a “long” rate for contracts greater than 10 years. The Company completed the acquisitions of the remaining interest in RTS Packaging and the Chattanooga Mill on September 8, 2023. The acquisitions included operating lease liabilities of $34,604. For additional information about these acquisitions, see Note 3. The following table sets forth the balance sheet location and aggregate values of the Company’s lease assets and lease liabilities at March 31, 2024 and December 31, 2023: Classification Balance Sheet Location March 31, 2024 December 31, 2023 Lease Assets Operating lease assets Right of Use Asset - Operating Leases $ 332,587 $ 314,944 Finance lease assets Other Assets 92,684 94,026 Total lease assets $ 425,271 $ 408,970 Lease Liabilities Current operating lease liabilities Accrued expenses and other $ 55,269 $ 54,803 Current finance lease liabilities Notes payable and current portion of debt 23,259 18,791 Total current lease liabilities $ 78,528 $ 73,594 Noncurrent operating lease liabilities Noncurrent Operating Lease Liabilities $ 282,877 $ 265,454 Noncurrent finance lease liabilities Long-term Debt, Net of Current Portion 63,955 70,203 Total noncurrent lease liabilities $ 346,832 $ 335,657 Total lease liabilities $ 425,360 $ 409,251 Certain of the Company’s leases include variable costs. Variable costs include lease payments that were volume or usage-driven in accordance with the use of the underlying asset, and also non-lease components that were incurred based upon actual terms rather than contractually fixed amounts. In addition, variable costs are incurred for lease payments that are indexed to a change in rate or index. Because the right of use assets recorded on the balance sheet were determined based upon factors considered at the commencement date of the leases, subsequent changes in the rate or index that were not contemplated in the right of use asset balances recorded on the balance sheet result in variable expenses being incurred when paid during the lease term. The following table sets forth the components of the Company’s total lease cost for the three-month periods ended March 31, 2024 and April 2, 2023: Three Months Ended Lease Cost March 31, 2024 April 2, 2023 Operating lease cost (a) $ 16,192 $ 13,411 Finance lease cost: Amortization of lease asset (a) 3,440 3,270 Interest on lease liabilities (b) 1,056 1,194 Variable lease cost (a) (c) 10,100 9,378 Total lease cost $ 30,788 $ 27,253 (a) Production-related and administrative amounts are included in cost of sales and selling, general and administrative expenses, respectively. (b) Included in interest expense. (c) Also includes short term lease costs, which are deemed immaterial . The following table sets forth certain lease-related information for the three-month periods ended March 31, 2024 and April 2, 2023: Three Months Ended March 31, 2024 April 2, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used by operating leases $ 14,355 $ 13,561 Operating cash flows used by finance leases $ 1,056 $ 1,194 Financing cash flows used by finance leases $ 3,946 $ 4,581 Noncash investing and financing activities: Leased assets obtained in exchange for new operating lease liabilities $ 26,818 $ 6,513 Leased assets obtained in exchange for new finance lease liabilities $ 2,292 $ 2,805 Modification to leased assets for increase in operating lease liabilities $ 4,171 $ 3,957 Termination reclasses to decrease operating lease assets $ (1,202) $ (2,029) Termination reclasses to decrease operating lease liabilities $ (1,432) $ (2,090) Termination reclasses to decrease finance lease assets $ — $ (962) Termination reclasses to decrease finance lease liabilities $ — $ (12)
Leases	Leases The Company routinely enters into leasing arrangements for real estate (including manufacturing facilities, office space, and warehouses), transportation equipment (automobiles, forklifts, and trailers), and office equipment (copiers and postage machines). The assessment of the certainty associated with the exercise of various lease renewal, termination, and purchase options included in the Company’s lease contracts is performed after contemplating all the relevant facts and circumstances in accordance with guidance under ASC 842 - “Leases.” Most of the Company’s real estate leases, in particular, include one or more options to renew, with renewal terms that typically extend the lease term in increments from one As the implicit rate in the Company’s leases is normally not readily determinable, the Company generally calculates its lease liabilities using discount rates based upon the Company’s incremental secured borrowing rate, which contemplates and reflects a particular geographical region’s interest rate for the leases active within that region of the Company’s global operations. The Company further utilizes a portfolio approach by assigning a “short” rate to contracts with lease terms of 10 years or less and a “long” rate for contracts greater than 10 years. The Company completed the acquisitions of the remaining interest in RTS Packaging and the Chattanooga Mill on September 8, 2023. The acquisitions included operating lease liabilities of $34,604. For additional information about these acquisitions, see Note 3. The following table sets forth the balance sheet location and aggregate values of the Company’s lease assets and lease liabilities at March 31, 2024 and December 31, 2023: Classification Balance Sheet Location March 31, 2024 December 31, 2023 Lease Assets Operating lease assets Right of Use Asset - Operating Leases $ 332,587 $ 314,944 Finance lease assets Other Assets 92,684 94,026 Total lease assets $ 425,271 $ 408,970 Lease Liabilities Current operating lease liabilities Accrued expenses and other $ 55,269 $ 54,803 Current finance lease liabilities Notes payable and current portion of debt 23,259 18,791 Total current lease liabilities $ 78,528 $ 73,594 Noncurrent operating lease liabilities Noncurrent Operating Lease Liabilities $ 282,877 $ 265,454 Noncurrent finance lease liabilities Long-term Debt, Net of Current Portion 63,955 70,203 Total noncurrent lease liabilities $ 346,832 $ 335,657 Total lease liabilities $ 425,360 $ 409,251 Certain of the Company’s leases include variable costs. Variable costs include lease payments that were volume or usage-driven in accordance with the use of the underlying asset, and also non-lease components that were incurred based upon actual terms rather than contractually fixed amounts. In addition, variable costs are incurred for lease payments that are indexed to a change in rate or index. Because the right of use assets recorded on the balance sheet were determined based upon factors considered at the commencement date of the leases, subsequent changes in the rate or index that were not contemplated in the right of use asset balances recorded on the balance sheet result in variable expenses being incurred when paid during the lease term. The following table sets forth the components of the Company’s total lease cost for the three-month periods ended March 31, 2024 and April 2, 2023: Three Months Ended Lease Cost March 31, 2024 April 2, 2023 Operating lease cost (a) $ 16,192 $ 13,411 Finance lease cost: Amortization of lease asset (a) 3,440 3,270 Interest on lease liabilities (b) 1,056 1,194 Variable lease cost (a) (c) 10,100 9,378 Total lease cost $ 30,788 $ 27,253 (a) Production-related and administrative amounts are included in cost of sales and selling, general and administrative expenses, respectively. (b) Included in interest expense. (c) Also includes short term lease costs, which are deemed immaterial . The following table sets forth certain lease-related information for the three-month periods ended March 31, 2024 and April 2, 2023: Three Months Ended March 31, 2024 April 2, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used by operating leases $ 14,355 $ 13,561 Operating cash flows used by finance leases $ 1,056 $ 1,194 Financing cash flows used by finance leases $ 3,946 $ 4,581 Noncash investing and financing activities: Leased assets obtained in exchange for new operating lease liabilities $ 26,818 $ 6,513 Leased assets obtained in exchange for new finance lease liabilities $ 2,292 $ 2,805 Modification to leased assets for increase in operating lease liabilities $ 4,171 $ 3,957 Termination reclasses to decrease operating lease assets $ (1,202) $ (2,029) Termination reclasses to decrease operating lease liabilities $ (1,432) $ (2,090) Termination reclasses to decrease finance lease assets $ — $ (962) Termination reclasses to decrease finance lease liabilities $ — $ (12)

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company records revenue when control is transferred to the customer, which is either upon shipment or over time in cases where the Company is entitled to payment with margin for products produced that are customer specific without alternative use. The Company recognizes over time revenue under the input method as goods are produced. Revenue that is recognized at a point in time is recognized when the customer obtains control of the goods. Customers obtain control either when goods are delivered to the customer facility, if the Company is responsible for arranging transportation, or when picked up by the customer’s designated carrier. The Company commonly enters into Master Supply Arrangements with customers to provide goods and/or services over specific time periods. Customers submit purchase orders with quantities and prices to create a contract for accounting purposes. Shipping and handling expenses are included in “Cost of sales,” and freight charged to customers is included in “Net sales” in the Company’s Condensed Consolidated Statements of Income. The Company has rebate agreements with certain customers. These rebates are recorded as reductions of revenue 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 Company’s Condensed Consolidated Balance Sheets. Payment terms under the Company’s sales arrangements are short term, generally no longer than 120 days. The Company does provide prompt payment discounts to certain customers if invoices are paid within a predetermined period. Prompt payment discounts are treated as a reduction of estimated revenue and are determinable within a short time period following the sale. The following table sets forth the effects of contract assets and liabilities from contracts with customers. Contract assets and liabilities are reported in “Other receivables” and “Accrued expenses and other,” respectively, in the Company’s Condensed Consolidated Balance Sheets. March 31, 2024 December 31, 2023 Contract Assets $ 53,170 $ 54,334 Contract Liabilities $ (21,758) $ (24,973) Significant changes in the contract assets and liabilities balances during the three-month period ended March 31, 2024 and the year ended December 31, 2023 were as follows: March 31, 2024 December 31, 2023 Contract Contract Contract Contract Beginning Balance $ 54,334 $ (24,973) $ 56,008 $ (22,423) Acquired as part of a business combination — — — (1,436) Revenue deferred or rebates accrued — (16,449) — (53,464) Recognized as revenue 2,079 11,761 Rebates paid to customers — 17,585 — 40,589 Increases due to rights to consideration for customer specific goods produced, but not billed during the period 53,170 — 54,334 — Transferred to receivables from contract assets recognized at the beginning of the period and acquired as part of business combinations (54,334) — (56,008) — Ending Balance $ 53,170 $ (21,758) $ 54,334 $ (24,973) Contract assets represent goods produced without alternative use for which the Company is entitled to payment with margin prior to shipment. Upon shipment, the Company is entitled to bill the customer, and therefore amounts included in contract assets will be reduced with the recording of an account receivable as they represent an unconditional right to payment. Contract liabilities represent revenue deferred due to pricing mechanisms utilized by the Company in certain multi-year arrangements, volume rebates, and receipts of advance payments. For multi-year arrangements with pricing mechanisms, the Company will generally defer revenue during the first half of the arrangement and will release the deferral over the second half of the contract term. Contract assets and liabilities are generally short in duration given the nature of products produced by the Company. The following tables set forth information about revenue disaggregated by primary geographic regions for the three-month periods ended March 31, 2024 and April 2, 2023. The tables also include a reconciliation of disaggregated revenue with reportable segments. The Company’s reportable segments are aligned by product nature as disclosed in Note 15 . Three-month period ended March 31, 2024 Consumer Packaging Industrial Paper Packaging All Other Total Primary Geographical Markets: United States $ 677,915 $ 354,366 $ 109,568 $ 1,141,849 Europe 112,787 97,700 14,390 224,877 Canada 30,452 24,770 — 55,222 Asia 25,905 56,950 354 83,209 Other 63,518 59,274 9,594 132,386 Total $ 910,577 $ 593,060 $ 133,906 $ 1,637,543 Three-month period ended April 2, 2023 Consumer Packaging Industrial Paper Packaging All Other Total Primary Geographical Markets: United States $ 737,791 $ 360,780 $ 127,127 $ 1,225,698 Europe 118,840 107,808 18,051 244,699 Canada 28,803 26,952 — 55,755 Asia 24,136 58,831 330 83,297 Other 48,438 61,484 10,412 120,334 Total $ 958,008 $ 615,855 $ 155,920 $ 1,729,783

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company’s operating and reporting structure consists of two reportable segments, Consumer Packaging and Industrial Paper Packaging, with all remaining businesses reported as All Other. Effective January 1, 2024, the Company integrated its flexible packaging and thermoformed packaging businesses within the Consumer Packaging segment in order to streamline operations, enhance customer service and better position the business for accelerated growth. As a result, the Company changed its operating and reporting structure to reflect the way it now manages its operations, evaluates performance, and allocates resources. Accordingly, the Company’s consumer thermoformed businesses have moved from the All Other group of businesses to the Consumer Packaging segment. Prior year segment results presented below have been recast to conform with the current presentation. In addition, effective January 1, 2024, the Company began conducting its recycling operations, part of the Industrial Paper Packaging segment, as a procurement function. As a result, no recycling net sales are recorded and the margin from the operations reduces “Cost of sales.” The products produced and sold within the Consumer Packaging segment consist primarily of round and shaped rigid paper, steel and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and applications; and high-barrier flexible packaging. The primary products produced and sold within the Industrial Paper Packaging segment include paperboard tubes, cones, and cores; paper-based protective packaging; and uncoated recycled paperboard. The primary products produced with the All Other group of businesses consist of a variety of packaging materials, including plastic, paper, foam, and various other specialty materials. The following tables set forth net sales, intersegment sales, segment operating profit, and the reconciliation of segment operating profit to “Income before income taxes.” Segment operating profit is the measure of segment profit or loss reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing their performance in accordance with ASC 280 - “Segment Reporting,” as prescribed by the FASB. SEGMENT FINANCIAL INFORMATION Three Months Ended March 31, 2024 April 2, 2023 Net sales: Consumer Packaging $ 910,577 $ 958,008 Industrial Paper Packaging 593,060 615,855 Total reportable segments $ 1,503,637 $ 1,573,863 All Other 133,906 155,920 Net Sales $ 1,637,543 $ 1,729,783 Intersegment sales (1) : Consumer Packaging $ 3,545 $ 2,007 Industrial Paper Packaging 28,417 38,720 Total reportable segments $ 31,962 $ 40,727 All Other 1,791 2,789 Intersegment Sales $ 33,753 $ 43,516 Segment operating profit (2) : Consumer Packaging $ 93,027 $ 96,494 Industrial Paper Packaging 65,844 94,367 Segment operating profit $ 158,871 $ 190,861 (1) Intersegment sales are recorded at a market-related transfer price. (2) Segment operating profit viewed by the Company’s management to evaluate segment performance does not include the following: restructuring/asset impairment charges; amortization of acquisition intangibles; acquisition, integration and divestiture-related costs; changes in last-in, first-out inventory reserves; gains/losses from the sale of businesses or other assets; derivative gains/(losses); or certain other items, if any, the exclusion of which the Company believes improves the comparability and analysis of the ongoing operating performance of the business. All other general corporate expenses have been allocated as operating costs to each of the Company’s reportable segments and the All Other group of businesses. RECONCILIATION OF SEGMENT OPERATING PROFIT TO INCOME BEFORE INCOME TAXES Three Months Ended March 31, 2024 April 2, 2023 Segment operating profit $ 158,871 $ 190,861 All Other operating profit 17,125 22,560 Corporate Restructuring/Asset impairment charges (31,618) (28,814) Amortization of acquisition intangibles (22,939) (21,164) Gains from divestiture of business and other assets — 72,010 Acquisition, integration and divestiture-related costs (5,661) (5,188) Changes in LIFO inventory reserves (431) 5,425 Derivative gains/(losses) 286 (6,085) Other operating (charges)/income, net (3) (3,180) 43 Operating profit $ 112,453 $ 229,648 Non-operating pension costs (3,295) (3,658) Interest expense (31,220) (34,232) Interest income 3,558 1,562 Income before income taxes $ 81,496 $ 193,320 (3) Primarily consists of losses related to highly inflationary accounting in Turkey and consulting fees.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [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. Spartanburg In connection with its acquisition of Tegrant in November 2011, the Company identified potential environmental contamination at a site in Spartanburg, South Carolina. Since the acquisition, the Company has spent a total of $2,175 on remediation of the Spartanburg site. At March 31, 2024 and December 31, 2023, the Company’s accrual for environmental contingencies related to the Spartanburg site totaled $5,225 and $5,259, respectively. The Company cannot currently estimate its potential liability, damages or range of potential loss, if any, beyond the amounts accrued with respect to this exposure. However, the Company does not believe that the resolution of this matter has a reasonable possibility of having a material adverse effect on the Company’s financial statements. Other environmental matters 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. However, 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. At March 31, 2024 and December 31, 2023, the Company’s accrual for these other sites totaled $2,001 and $1,992, respectively. Summary As of March 31, 2024 and December 31, 2023, the Company and its subsidiaries had accrued $7,226 and $7,251, respectively, related to environmental contingencies. These accruals are included in “Accrued expenses and other” in the Company’s Condensed Consolidated Balance Sheets. Other Legal Matters In addition to those matters described above, the Company is subject to other various legal proceedings, claims, and litigation arising in the ordinary course of business. While the outcome of these matters could differ from management’s expectations, the Company does not believe the resolution of these matters has a reasonable possibility of having a material adverse effect on the Company’s financial statements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Pay vs Performance Disclosure
Net income attributable to Sonoco	$ 65,177	$ 148,319

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which modifies the rules on income tax disclosures to require disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. The Company is currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The purpose of the amendment is to enable investors to better understand an entity’s overall performance and assess potential future cash flows. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. The Company will begin providing the enhanced reportable segment financial disclosures effective with its Annual Report on Form 10-K for the year ending December 31, 2024. In September 2022, the FASB issued ASU 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations.” The amendments in this ASU require that a buyer in a supplier finance program disclose qualitative and quantitative information about its supplier finance programs in each annual reporting period, including a description of key payment terms, amounts outstanding, and a rollforward of the outstanding obligation. In each interim reporting period, the amount outstanding requires disclosure. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023. The Company adopted this standard in the first quarter of 2023, with the exception of the amendment on rollforward information, which will be provided in the Company’s Annual Report on Form 10-K for the year ending December 31, 2024. During the three-month period ended March 31, 2024, there were no other newly issued or newly applicable accounting pronouncements that had, or are expected to have, a material impact on the Company’s financial statements. Further, at March 31, 2024, there were no other pronouncements pending adoption that are expected to have a material impact on the Company’s condensed consolidated financial statements.
Fair Value Measurements	Fair value is defined as an 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.
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.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Schedule of Preliminary Fair Value Of Assets Acquired And Measurement Period Adjustments	The Company’s initial allocation of the assets acquired and liabilities assumed in the acquisition of Inapel, as well as revised preliminary fair values reflecting adjustments made during the measurement period, are as follows: Initial Allocation Measurement Period Adjustments Preliminary Allocation Trade accounts receivable $ 30,301 $ (133) $ 30,168 Other receivables 6,088 70 6,158 Inventories 9,269 — 9,269 Prepaid expenses 1,430 — 1,430 Property, plant and equipment 11,456 17,459 28,915 Right of use asset - operating leases 217 — 217 Other intangible assets 8,653 (1,094) 7,559 Goodwill 15,704 (7,130) 8,574 Other assets 793 — 793 Payable to suppliers (15,899) 3,058 (12,841) Accrued expenses and other (5,733) (1,350) (7,083) Noncurrent operating lease liabilities (117) — (117) Deferred income taxes (2,934) (5,564) (8,498) Total purchase price, net of cash acquired $ 59,228 $ 5,316 $ 64,544 Initial Allocation Measurement Period Adjustments Preliminary Allocation Trade accounts receivable $ 17,488 $ — $ 17,488 Other receivables — — — Inventories 20,209 (947) 19,262 Prepaid expenses 2,720 (589) 2,131 Property, plant and equipment 73,483 753 74,236 Right of use asset - operating leases 34,604 290 34,894 Other intangible assets 199,560 (8,995) 190,565 Goodwill 92,657 14,909 107,566 Other assets 2,465 (412) 2,053 Payable to suppliers (7,320) — (7,320) Accrued expenses and other (15,167) (25) (15,192) Notes payable and current portion of long-term debt (24) — (24) Noncurrent operating lease liabilities (29,905) — (29,905) Pension and other postretirement benefits (10,761) (768) (11,529) Long-term debt (1,942) — (1,942) Deferred income taxes (3,419) (2,502) (5,921) Other long-term liabilities (3,293) 1,478 (1,815) Net assets acquired $ 371,355 $ 3,192 $ 374,547
Schedule of the Purchase Consideration Transferred for the Acquisitions	The following table provides a summary of the purchase consideration (as defined under Accounting Standards Codification (“ASC”) 805) transferred for the acquisitions of the remaining interest in RTS Packaging and the Chattanooga Mill: Purchase Consideration Cash consideration, net of cash acquired $ 313,388 Fair value of previously held interest in RTS Packaging 59,472 Final working capital adjustment 452 Settlement of preexisting relationships 1,235 Purchase consideration transferred $ 374,547

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended March 31, 2024 April 2, 2023 Numerator: Net income attributable to Sonoco $ 65,177 $ 148,319 Denominator: Weighted average common shares outstanding: Basic 98,498 98,167 Dilutive effect of share-based compensation 661 448 Diluted 99,159 98,615 Net income attributable to Sonoco per common share: Basic $ 0.66 $ 1.51 Diluted $ 0.66 $ 1.50 Cash dividends $ 0.51 $ 0.49
Schedule of Antidilutive Securities	The average numbers of SARs that were anti-dilutive and, therefore, not included in the computation of diluted earnings per share during the three-month periods ended March 31, 2024 and April 2, 2023 were as follows (in thousands): Three Months Ended March 31, 2024 April 2, 2023 Anti-dilutive stock appreciation rights 340 343

Restructuring and Asset Impai_2

Restructuring and Asset Impairments (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Restructuring-Related Asset Impairment Expenses by Type Incurred and by Reportable Segment	Following are the total restructuring and asset impairment charges, net of adjustments, recognized during the periods presented: Three Months Ended March 31, 2024 April 2, 2023 Restructuring/Asset impairment charges $ 31,618 $ 28,814 The table below sets forth restructuring and restructuring-related asset impairment charges by type incurred: Three Months Ended March 31, 2024 April 2, 2023 Severance and termination benefits $ 17,993 $ 5,516 Asset impairments 8,844 19,193 Other costs 4,781 4,105 Restructuring and restructuring-related asset impairment charges $ 31,618 $ 28,814 The table below sets forth restructuring and restructuring-related asset impairment charges attributable to each reportable segment, the “All Other” group of businesses, and Corporate-related activity: Three Months Ended March 31, 2024 April 2, 2023 Consumer Packaging $ 4,925 $ 2,680 Industrial Paper Packaging 22,603 24,544 All Other 1,148 53 Corporate 2,942 1,537 Restructuring and restructuring-related asset impairment charges $ 31,618 $ 28,814
Schedule of Restructuring Accrual Activity	The following table sets forth the activity in the restructuring accrual included in “Accrued expenses and other” in the Company’s Condensed Consolidated Balance Sheets: Severance Asset Other Total Accrual Activity Liability at December 31, 2023 $ 14,315 $ — $ 1,638 $ 15,953 2024 charges 17,993 8,844 4,781 31,618 Cash payments (6,314) (498) (2,218) (9,030) Asset writedowns/disposals — (8,346) — (8,346) Foreign currency translation (81) — (15) (96) Liability at March 31, 2024 $ 25,913 $ — $ 4,186 $ 30,099

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss	The following table summarizes the components of accumulated other comprehensive loss and the changes in the balances of each component of accumulated other comprehensive loss, net of tax as applicable, for the three-month periods ended March 31, 2024 and April 2, 2023: Foreign Defined Cash Accumulated Balance at December 31, 2023 $ (267,578) $ (99,627) $ 943 $ (366,262) Other comprehensive (loss)/income before reclassifications (19,319) (932) 518 (19,733) Amounts reclassified from accumulated other comprehensive loss to net income — 975 (349) 626 Other comprehensive (loss)/income (19,319) 43 169 (19,107) Balance at March 31, 2024 $ (286,897) $ (99,584) $ 1,112 $ (385,369) Balance at December 31, 2022 $ (338,316) $ (90,973) $ (794) $ (430,083) Other comprehensive income/(loss) before reclassifications 31,569 (393) 2,645 33,821 Amounts reclassified from accumulated other comprehensive loss to net income — 1,309 (431) 878 Amounts reclassified from accumulated other comprehensive loss to property, plant, and equipment — — 300 300 Other comprehensive income 31,569 916 2,514 34,999 Balance at April 2, 2023 $ (306,747) $ (90,057) $ 1,720 $ (395,084)
Schedule of Effects on Net Income of Significant Amounts Reclassified from Accumulated Other Comprehensive Loss	The following table summarizes the effects on net income of significant amounts reclassified from each component of accumulated other comprehensive loss for the three-month periods ended March 31, 2024 and April 2, 2023: Amount Reclassified from Accumulated Three Months Ended Details about Accumulated Other March 31, April 2, Affected Line Item in Gains/(losses) on cash flow hedges Foreign exchange contracts (a) $ 436 $ 1,062 Net sales Foreign exchange contracts (a) (75) (454) Cost of sales Commodity contracts (a) — (32) Cost of sales 361 576 Income before income taxes Income tax impact (12) (145) Provision for income taxes 349 431 Net income Defined benefit pension items Effect of settlement loss (b) — (686) Non-operating pension costs Amortization of defined benefit pension items (b) (1,230) (1,071) Non-operating pension costs (1,230) (1,757) Income before income taxes Income tax impact 255 448 Provision for income taxes (975) (1,309) Net income Total reclassifications for the period $ (626) $ (878) Net income (a) See Note 9 for additional details. (b) See Note 11 for additional details.
Schedule of Before and After Tax Amounts for Comprehensive Income (Loss) Components	The following table summarizes the before and after tax amounts for the various components of other comprehensive income/(loss) for the three-month periods ended March 31, 2024 and April 2, 2023: Three Months Ended March 31, 2024 Three Months Ended April 2, 2023 Before Tax Tax After Tax Before Tax Tax After Tax Foreign currency items: Net other comprehensive (loss)/income from foreign currency items $ (16,788) $ (2,531) $ (19,319) $ 31,569 $ — $ 31,569 Defined benefit pension items: Other comprehensive (loss)/income before reclassifications (876) (56) (932) (760) 367 (393) Amounts reclassified from accumulated other comprehensive loss to net income (a) 1,230 (255) 975 1,757 (448) 1,309 Net other comprehensive income/(loss) from defined benefit pension items 354 (311) 43 997 (81) 916 Gains and losses on cash flow hedges: Other comprehensive income/(loss) before reclassifications 536 (18) 518 3,536 (891) 2,645 Amounts reclassified from accumulated other comprehensive loss to net income (b) (361) 12 (349) (576) 145 (431) Amounts reclassified from accumulated other comprehensive loss to property, plant and equipment — — — 401 (101) 300 Net other comprehensive income/(loss) from cash flow hedges 175 (6) 169 3,361 (847) 2,514 Other comprehensive (loss)/income $ (16,259) $ (2,848) $ (19,107) $ 35,927 $ (928) $ 34,999 (a) See Note 11 for additional details. (b) See Note 9 for additional details.

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of the Changes in Goodwill	A summary of the changes in goodwill for the three-month period ended March 31, 2024 is as follows: Consumer Industrial Paper Packaging All Other Total Goodwill at December 31, 2023 $ 1,056,241 $ 506,406 $ 248,007 $ 1,810,654 Foreign currency translation (4,427) (2,808) (212) (7,447) Measurement period adjustments (7,130) — — (7,130) Goodwill at March 31, 2024 $ 1,044,684 $ 503,598 $ 247,795 $ 1,796,077
Schedule of Other Intangible Assets	A summary of other intangible assets as of March 31, 2024 and December 31, 2023 is as follows: March 31, December 31, Other Intangible Assets, gross: Patents $ 29,297 $ 29,304 Customer lists 1,277,948 1,282,689 Trade names 41,738 41,836 Proprietary technology 56,848 56,857 Other 6,820 6,916 Total Other Intangible Assets, gross $ 1,412,651 $ 1,417,602 Accumulated Amortization: Patents $ (19,956) $ (19,549) Customer lists (511,699) (493,778) Trade names (20,146) (18,845) Proprietary technology (29,971) (29,013) Other (2,794) (2,747) Total Accumulated Amortization (584,566) (563,932) Other Intangible Assets, net $ 828,085 $ 853,670

Supply Chain Financing (Tables)

Supply Chain Financing (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule Of Supply Chain Financing Program Obligations	The following table sets forth the balance sheet location and values of the Company’s SCF Program obligations at March 31, 2024 and December 31, 2023: Balance Sheet Line Item March 31, 2024 December 31, 2023 Payable to suppliers (a) $ 35,645 $ 35,847 (a) The payment of these obligations is included in net cash provided by operating activities in the Company’s Condensed Consolidated Statements of Cash Flows.

Financial Instruments and Der_2

Financial Instruments and Derivatives (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of 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 for which the carrying amount differs from the fair value. March 31, 2024 December 31, 2023 Carrying Fair Carrying Fair Long-term debt, net of current portion $ 2,630,424 $ 2,485,816 $ 3,035,868 $ 2,890,009
Schedule of Net Positions of Foreign Contracts	The net positions of these contracts at March 31, 2024 were as follows (in thousands): Currency Action Quantity Colombian peso purchase 16,966,782 Mexican peso purchase 429,499 Polish zloty purchase 98,802 Danish krone purchase 34,765 Swedish krona sell (4,855) Czech koruna purchase 86,121 Canadian dollar purchase 25,729 Euro purchase 1,744 Turkish lira purchase 43,173 Brazilian real purchase 41,819 British pound sell (800)
Schedule of Net Positions of Other Derivatives Contracts	The net currency positions of these non-designated contracts at March 31, 2024, were as follows (in thousands): Currency Action Quantity Indonesian rupiah purchase 19,814,218 Colombian peso purchase 67,308,931 Mexican peso purchase 412,841 Canadian dollar purchase 7,981
Schedule of Location and Fair Values of Derivative Instruments	The following table sets forth the location and fair values of the Company’s derivative instruments at March 31, 2024 and December 31, 2023: Description Balance Sheet Location March 31, 2024 December 31, 2023 Derivatives designated as hedging instruments: Commodity Contracts Prepaid expenses $ 28 $ 67 Commodity Contracts Accrued expenses and other (94) (108) Foreign Exchange Contracts Prepaid expenses 2,323 2,525 Foreign Exchange Contracts Accrued expenses and other (626) (1,024) Net Investment Hedge Prepaid expense 4,192 5,567 Net Investment Hedge Other assets 744 — Net Investment Hedge Other liabilities (86) (10,640) Derivatives not designated as hedging instruments: Commodity Contracts Prepaid expenses $ 103 $ 12 Commodity Contracts Other assets 250 — Commodity Contracts Accrued expenses and other (6,666) (6,782) Commodity Contracts Other liabilities (176) — Foreign Exchange Contracts Prepaid expenses 5 130 Foreign Exchange Contracts Accrued expenses and other (206) (159)
Schedule of Effect of Derivative Instruments on Financial Performance	The following tables set forth the effect of the Company’s derivative instruments on financial performance for the three-month periods ended March 31, 2024 and April 2, 2023, excluding the amount of 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 Amount of Gain or Derivatives in Cash Flow Hedging Relationships: Three-month period ended March 31, 2024 Foreign Exchange Contracts $ 561 Net sales $ 436 Cost of sales (75) Commodity Contracts $ (25) Cost of sales $ — Three-month period ended April 2, 2023 Foreign Exchange Contracts $ 3,613 Net sales $ 1,062 Cost of sales (454) Commodity Contracts $ (77) Cost of sales $ (32) Description Gain or (Loss) Location of Gain or (Loss) Recognized in Derivatives not Designated as Hedging Instruments: Three-month period ended March 31, 2024 Commodity Contracts $ (2,558) Cost of sales Foreign Exchange Contracts $ 305 Selling, general and administrative Three-month period ended April 2, 2023 Commodity Contracts $ (9,708) Cost of sales Foreign Exchange Contracts $ 2,137 Selling, general and administrative Three-month period ended March 31, 2024 Three-month period ended April 2, 2023 Description Revenue Cost of Revenue Cost of Total amount of income and expense line items presented in the Condensed Consolidated Statements of Income $ 436 $ (75) $ 1,062 $ (486) Gain or (loss) on cash flow hedging relationships: Foreign exchange contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive loss into net income $ 436 $ (75) $ 1,062 $ (454) Commodity contracts: Amount of gain reclassified from accumulated other comprehensive loss into net income $ — $ — $ — $ (32)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured on Recurring Basis	The following table sets forth information regarding the Company’s financial assets and financial liabilities, excluding retirement and postretirement plan assets, measured at fair value on a recurring basis: Description March 31, 2024 Assets measured Level 1 Level 2 Level 3 Hedge derivatives, net: Commodity contracts $ (66) $ — $ — $ (66) $ — Foreign exchange contracts $ 1,697 $ — $ — $ 1,697 $ — Net investment hedge $ 4,850 $ — $ — $ 4,850 $ — Non-hedge derivatives, net: Commodity contracts $ (6,489) $ — $ — $ (6,489) $ — Foreign exchange contracts $ (201) $ — $ — $ (201) $ — Description December 31, 2023 Assets measured Level 1 Level 2 Level 3 Hedge derivatives, net: Commodity contracts $ (41) $ — $ — $ (41) $ — Foreign exchange contracts $ 1,502 $ — $ — $ 1,502 $ — Net investment hedge $ (5,073) $ — $ — $ (5,073) $ — Non-hedge derivatives, net: Commodity contracts $ (6,770) $ — $ — $ (6,770) $ — Foreign exchange contracts $ (29) $ — $ — $ (29) $ —

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost/(Income)	The components of net periodic benefit cost/(income) include the following: Three Months Ended March 31, 2024 April 2, 2023 Retirement Plans Service cost $ 755 $ 687 Interest cost 4,709 4,294 Expected return on plan assets (2,796) (2,444) Amortization of prior service cost 205 219 Amortization of net actuarial loss 1,075 1,045 Effect of settlement loss — 686 Net periodic benefit cost $ 3,948 $ 4,487 Retiree Health and Life Insurance Plans Service cost $ 54 $ 62 Interest cost 250 130 Expected return on plan assets (98) (79) Amortization of prior service cost 96 — Amortization of net actuarial gain (146) (193) Net periodic benefit cost/(income) $ 156 $ (80)

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Balance Sheet Location and Values of Company's Lease Assets and Lease Liabilities	The following table sets forth the balance sheet location and aggregate values of the Company’s lease assets and lease liabilities at March 31, 2024 and December 31, 2023: Classification Balance Sheet Location March 31, 2024 December 31, 2023 Lease Assets Operating lease assets Right of Use Asset - Operating Leases $ 332,587 $ 314,944 Finance lease assets Other Assets 92,684 94,026 Total lease assets $ 425,271 $ 408,970 Lease Liabilities Current operating lease liabilities Accrued expenses and other $ 55,269 $ 54,803 Current finance lease liabilities Notes payable and current portion of debt 23,259 18,791 Total current lease liabilities $ 78,528 $ 73,594 Noncurrent operating lease liabilities Noncurrent Operating Lease Liabilities $ 282,877 $ 265,454 Noncurrent finance lease liabilities Long-term Debt, Net of Current Portion 63,955 70,203 Total noncurrent lease liabilities $ 346,832 $ 335,657 Total lease liabilities $ 425,360 $ 409,251
Schedule of Components of Company's Total Lease Costs and Other Lease Related Information	The following table sets forth the components of the Company’s total lease cost for the three-month periods ended March 31, 2024 and April 2, 2023: Three Months Ended Lease Cost March 31, 2024 April 2, 2023 Operating lease cost (a) $ 16,192 $ 13,411 Finance lease cost: Amortization of lease asset (a) 3,440 3,270 Interest on lease liabilities (b) 1,056 1,194 Variable lease cost (a) (c) 10,100 9,378 Total lease cost $ 30,788 $ 27,253 (a) Production-related and administrative amounts are included in cost of sales and selling, general and administrative expenses, respectively. (b) Included in interest expense. (c) Also includes short term lease costs, which are deemed immaterial .
Schedule of Weighted Average Remaining Lease Terms, Discounts Rates and Other Lease Information	The following table sets forth certain lease-related information for the three-month periods ended March 31, 2024 and April 2, 2023: Three Months Ended March 31, 2024 April 2, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used by operating leases $ 14,355 $ 13,561 Operating cash flows used by finance leases $ 1,056 $ 1,194 Financing cash flows used by finance leases $ 3,946 $ 4,581 Noncash investing and financing activities: Leased assets obtained in exchange for new operating lease liabilities $ 26,818 $ 6,513 Leased assets obtained in exchange for new finance lease liabilities $ 2,292 $ 2,805 Modification to leased assets for increase in operating lease liabilities $ 4,171 $ 3,957 Termination reclasses to decrease operating lease assets $ (1,202) $ (2,029) Termination reclasses to decrease operating lease liabilities $ (1,432) $ (2,090) Termination reclasses to decrease finance lease assets $ — $ (962) Termination reclasses to decrease finance lease liabilities $ — $ (12)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Receivables, Contracts Assets and Liabilities from Contracts With Customers	The following table sets forth the effects of contract assets and liabilities from contracts with customers. Contract assets and liabilities are reported in “Other receivables” and “Accrued expenses and other,” respectively, in the Company’s Condensed Consolidated Balance Sheets. March 31, 2024 December 31, 2023 Contract Assets $ 53,170 $ 54,334 Contract Liabilities $ (21,758) $ (24,973) Significant changes in the contract assets and liabilities balances during the three-month period ended March 31, 2024 and the year ended December 31, 2023 were as follows: March 31, 2024 December 31, 2023 Contract Contract Contract Contract Beginning Balance $ 54,334 $ (24,973) $ 56,008 $ (22,423) Acquired as part of a business combination — — — (1,436) Revenue deferred or rebates accrued — (16,449) — (53,464) Recognized as revenue 2,079 11,761 Rebates paid to customers — 17,585 — 40,589 Increases due to rights to consideration for customer specific goods produced, but not billed during the period 53,170 — 54,334 — Transferred to receivables from contract assets recognized at the beginning of the period and acquired as part of business combinations (54,334) — (56,008) — Ending Balance $ 53,170 $ (21,758) $ 54,334 $ (24,973)
Schedule of Disaggregation of Revenue	The following tables set forth information about revenue disaggregated by primary geographic regions for the three-month periods ended March 31, 2024 and April 2, 2023. The tables also include a reconciliation of disaggregated revenue with reportable segments. The Company’s reportable segments are aligned by product nature as disclosed in Note 15 . Three-month period ended March 31, 2024 Consumer Packaging Industrial Paper Packaging All Other Total Primary Geographical Markets: United States $ 677,915 $ 354,366 $ 109,568 $ 1,141,849 Europe 112,787 97,700 14,390 224,877 Canada 30,452 24,770 — 55,222 Asia 25,905 56,950 354 83,209 Other 63,518 59,274 9,594 132,386 Total $ 910,577 $ 593,060 $ 133,906 $ 1,637,543 Three-month period ended April 2, 2023 Consumer Packaging Industrial Paper Packaging All Other Total Primary Geographical Markets: United States $ 737,791 $ 360,780 $ 127,127 $ 1,225,698 Europe 118,840 107,808 18,051 244,699 Canada 28,803 26,952 — 55,755 Asia 24,136 58,831 330 83,297 Other 48,438 61,484 10,412 120,334 Total $ 958,008 $ 615,855 $ 155,920 $ 1,729,783

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Financial Information	SEGMENT FINANCIAL INFORMATION Three Months Ended March 31, 2024 April 2, 2023 Net sales: Consumer Packaging $ 910,577 $ 958,008 Industrial Paper Packaging 593,060 615,855 Total reportable segments $ 1,503,637 $ 1,573,863 All Other 133,906 155,920 Net Sales $ 1,637,543 $ 1,729,783 Intersegment sales (1) : Consumer Packaging $ 3,545 $ 2,007 Industrial Paper Packaging 28,417 38,720 Total reportable segments $ 31,962 $ 40,727 All Other 1,791 2,789 Intersegment Sales $ 33,753 $ 43,516 Segment operating profit (2) : Consumer Packaging $ 93,027 $ 96,494 Industrial Paper Packaging 65,844 94,367 Segment operating profit $ 158,871 $ 190,861 (1) Intersegment sales are recorded at a market-related transfer price. (2) Segment operating profit viewed by the Company’s management to evaluate segment performance does not include the following: restructuring/asset impairment charges; amortization of acquisition intangibles; acquisition, integration and divestiture-related costs; changes in last-in, first-out inventory reserves; gains/losses from the sale of businesses or other assets; derivative gains/(losses); or certain other items, if any, the exclusion of which the Company believes improves the comparability and analysis of the ongoing operating performance of the business. All other general corporate expenses have been allocated as operating costs to each of the Company’s reportable segments and the All Other group of businesses. RECONCILIATION OF SEGMENT OPERATING PROFIT TO INCOME BEFORE INCOME TAXES Three Months Ended March 31, 2024 April 2, 2023 Segment operating profit $ 158,871 $ 190,861 All Other operating profit 17,125 22,560 Corporate Restructuring/Asset impairment charges (31,618) (28,814) Amortization of acquisition intangibles (22,939) (21,164) Gains from divestiture of business and other assets — 72,010 Acquisition, integration and divestiture-related costs (5,661) (5,188) Changes in LIFO inventory reserves (431) 5,425 Derivative gains/(losses) 286 (6,085) Other operating (charges)/income, net (3) (3,180) 43 Operating profit $ 112,453 $ 229,648 Non-operating pension costs (3,295) (3,658) Interest expense (31,220) (34,232) Interest income 3,558 1,562 Income before income taxes $ 81,496 $ 193,320 (3) Primarily consists of losses related to highly inflationary accounting in Turkey and consulting fees.

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisitions Additional Information (Details)			3 Months Ended
	Dec. 01, 2023 USD ($) employee location	Sep. 08, 2023 USD ($)	Mar. 31, 2024 USD ($)	Apr. 02, 2023 USD ($)
Business Acquisition [Line Items]
Cash consideration, net of cash acquired			$ 452,000	$ 0
Inapel
Business Acquisition [Line Items]
Total consideration	$ 64,544,000
Cash consideration, net of cash acquired	$ 59,228,000
Approximate number of employees (employee) | employee	500
Contingent purchase liability			5,316,000
Goodwill expected to be deductible for income tax purposes			0
Inapel | BRAZIL
Business Acquisition [Line Items]
Number of manufacturing locations | location	2
RTS Packaging and Chattanooga Mill
Business Acquisition [Line Items]
Total consideration		$ 374,547,000
Cash consideration, net of cash acquired		$ 313,388,000
Goodwill expected to be deductible for income tax purposes			$ 87,191,000
Voting interest acquired		65%
Final working capital adjustment		$ 452,000
RTS Packaging
Business Acquisition [Line Items]
Interest held in acquiree before subsequent acquisition (percent)		35%

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Schedule of Preliminary Fair Value Of Assets Acquired And Measurement Period Adjustments (Details) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended	7 Months Ended
	Mar. 31, 2024	Mar. 31, 2024	Mar. 31, 2024	Dec. 31, 2023	[1]	Dec. 01, 2023	Sep. 08, 2023
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Goodwill	$ 1,796,077	$ 1,796,077	$ 1,796,077	$ 1,810,654
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments [Abstract]
Goodwill	(7,130)
Inapel
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Trade accounts receivable	30,168	30,168	30,168			$ 30,301
Other receivables	6,158	6,158	6,158			6,088
Inventories	9,269	9,269	9,269			9,269
Prepaid expenses	1,430	1,430	1,430			1,430
Property, plant and equipment	28,915	28,915	28,915			11,456
Right of use asset - operating leases	217	217	217			217
Other intangible assets	7,559	7,559	7,559			8,653
Goodwill	8,574	8,574	8,574			15,704
Other assets	793	793	793			793
Payable to suppliers	(12,841)	(12,841)	(12,841)			(15,899)
Accrued expenses and other	(7,083)	(7,083)	(7,083)			(5,733)
Noncurrent operating lease liabilities	(117)	(117)	(117)			(117)
Deferred income taxes	(8,498)	(8,498)	(8,498)			(2,934)
Net assets acquired	64,544	64,544	64,544			$ 59,228
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments [Abstract]
Trade accounts receivable		(133)
Other receivables		70
Property, plant and equipment		17,459
Other intangible assets		(1,094)
Goodwill		(7,130)
Payable to suppliers		3,058
Accrued expenses and other		(1,350)
Deferred income taxes		(5,564)
Total purchase price, net of cash acquired		5,316
RTS Packaging and Chattanooga Mill
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Trade accounts receivable	17,488	17,488	17,488				$ 17,488
Other receivables	0	0	0				0
Inventories	19,262	19,262	19,262				20,209
Prepaid expenses	2,131	2,131	2,131				2,720
Property, plant and equipment	74,236	74,236	74,236				73,483
Right of use asset - operating leases	34,894	34,894	34,894				34,604
Other intangible assets	190,565	190,565	190,565				199,560
Goodwill	107,566	107,566	107,566				92,657
Other assets	2,053	2,053	2,053				2,465
Payable to suppliers	(7,320)	(7,320)	(7,320)				(7,320)
Accrued expenses and other	(15,192)	(15,192)	(15,192)				(15,167)
Notes payable and current portion of long-term debt	(24)	(24)	(24)				(24)
Noncurrent operating lease liabilities	(29,905)	(29,905)	(29,905)				(29,905)
Pension and other postretirement benefits	(11,529)	(11,529)	(11,529)				(10,761)
Long-term debt	(1,942)	(1,942)	(1,942)				(1,942)
Deferred income taxes	(5,921)	(5,921)	(5,921)				(3,419)
Other long-term liabilities	(1,815)	(1,815)	(1,815)				(3,293)
Net assets acquired	$ 374,547	$ 374,547	374,547				$ 371,355
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments [Abstract]
Inventories			(947)
Prepaid expenses			(589)
Property, plant and equipment			753
Right of use asset - operating leases			290
Other intangible assets			(8,995)
Goodwill			14,909
Other assets			(412)
Accrued expenses and other			(25)
Pension and other postretirement benefits			(768)
Deferred income taxes			(2,502)
Other long-term liabilities			1,478
Total purchase price, net of cash acquired			$ 3,192
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Summary of the Purchase Consideration Transferred for the Acquisitions (Details) - USD ($) $ in Thousands		3 Months Ended
	Sep. 08, 2023	Mar. 31, 2024	Apr. 02, 2023
Business Acquisition [Line Items]
Cash consideration, net of cash acquired		$ 452	$ 0
RTS Packaging and Chattanooga Mill
Business Acquisition [Line Items]
Cash consideration, net of cash acquired	$ 313,388
Fair value of previously held interest in RTS Packaging	59,472
Final working capital adjustment	452
Settlement of preexisting relationships	1,235
Purchase consideration transferred	$ 374,547

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Divestiture of Businesses (Details)			3 Months Ended
	Mar. 29, 2023 USD ($) a	Jan. 26, 2023 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Jul. 02, 2023 USD ($)	Apr. 02, 2023 USD ($)	Apr. 01, 2024 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Divestitures				$ 0
Gain on divestiture of business and other assets				0		$ 72,010,000
Gain on divestiture of business				0		$ 11,065,000
Disposed of by sale | Sonoco Sustainability Solutions Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of business, net		$ 13,839,000
Funding of escrow funds		$ 1,500,000
Funds held in escrow, term		20 months
Write off of assets as part of the sale totaling					$ 4,274,000
Divestitures					3,042,000
Gain on divestiture of business and other assets					$ 11,065,000
Contingent consideration from disposal		$ 5,000,000
Consideration from disposal, equity interest percentage received		2.70%
Disposed of by sale | Sonoco Sustainability Solutions Business | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Contingent consideration from disposal			$ 3,200,000
Disposed of by sale | Timberland properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of business, net	$ 70,802,000
Area of land | a	55,000
Disposed assets net book value				9,857,000
Gain (loss) on the sale of business				$ 60,945,000
Disposed of by sale | Black Diamond Capital Management LLC | Forecast
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on divestiture of business			$ 3,000,000
Disposed of by sale | Black Diamond Capital Management LLC | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration for disposal of business held for sale							$ 81,795,000

Acquisitions and Divestitures_5

Acquisitions and Divestitures - Acquisition, Integration, and Divestiture-Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition, integration and divestiture-related costs	$ 5,661	$ 5,188

Shareholders' Equity - Schedule

Shareholders' Equity - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended
	Mar. 08, 2024	Mar. 31, 2024	Apr. 02, 2023
Numerator:
Net income attributable to Sonoco		$ 65,177	$ 148,319
Denominator:
Basic (in shares)		98,498	98,167
Dilutive effect of stock-based compensation (in shares)		661	448
Diluted (in shares)		99,159	98,615
Net income attributable to Sonoco per common share:
Basic (in usd per share)		$ 0.66	$ 1.51
Diluted (in usd per share)		0.66	1.50
Cash dividends (in usd per share)	$ 0.51	$ 0.51	$ 0.49

Shareholders' Equity - Schedu_2

Shareholders' Equity - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Anti-dilutive stock appreciation rights
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock appreciation rights (in shares)	340	343

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands					3 Months Ended		12 Months Ended
	Jun. 10, 2024	Apr. 17, 2024	Mar. 08, 2024	Feb. 14, 2024	Mar. 31, 2024	Apr. 02, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 20, 2021
Class of Stock [Line Items]
Number of shares authorized for repurchase										$ 350,000
Number of shares available for repurchase									$ 137,972
Dividends paid (in usd per share)			$ 0.51		$ 0.51	$ 0.49
Dividend declared and payable (in usd per share)				$ 0.51
Forecast
Class of Stock [Line Items]
Dividends paid (in usd per share)	$ 0.52
Subsequent Event
Class of Stock [Line Items]
Dividend declared and payable (in usd per share)		$ 0.52
Tax Withholding Obligations
Class of Stock [Line Items]
Number of shares repurchased (in shares)					162,000	175,000
Cost of shares repurchased					$ 9,139	$ 10,576
Accelerated Share Repurchase Program
Class of Stock [Line Items]
Number of shares repurchased (in shares)					0		0	0

Restructuring and Asset Impai_3

Restructuring and Asset Impairments - Schedule of Restructuring and Restructuring-Related Asset Impairment Expenses by Type Incurred and by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring and restructuring-related asset impairment charges	$ 31,618	$ 28,814
Restructuring/Asset impairment charges	31,618	28,814
Operating Segments | Consumer Packaging
Restructuring Cost and Reserve [Line Items]
Restructuring and restructuring-related asset impairment charges	4,925	2,680
Operating Segments | Industrial Paper Packaging
Restructuring Cost and Reserve [Line Items]
Restructuring and restructuring-related asset impairment charges	22,603	24,544
All Other
Restructuring Cost and Reserve [Line Items]
Restructuring and restructuring-related asset impairment charges	1,148	53
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and restructuring-related asset impairment charges	2,942	1,537
Severance and termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring and restructuring-related asset impairment charges	17,993	5,516
Asset impairments
Restructuring Cost and Reserve [Line Items]
Restructuring and restructuring-related asset impairment charges	8,844	19,193
Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring and restructuring-related asset impairment charges	$ 4,781	$ 4,105

Restructuring and Asset Impai_4

Restructuring and Asset Impairments - Schedule of Restructuring Accrual Activity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Liability at December 31, 2023	$ 15,953
2024 charges	31,618
Cash payments	(9,030)
Asset writedowns/disposals	(8,346)
Foreign currency translation	(96)
Liability at March 31, 2024	30,099
Severance and Termination Benefits
Restructuring Reserve [Roll Forward]
Liability at December 31, 2023	14,315
2024 charges	17,993
Cash payments	(6,314)
Asset writedowns/disposals	0
Foreign currency translation	(81)
Liability at March 31, 2024	25,913
Asset Impairments/ Disposal of Assets
Restructuring Reserve [Roll Forward]
Liability at December 31, 2023	0
2024 charges	8,844
Cash payments	(498)
Asset writedowns/disposals	(8,346)
Foreign currency translation	0
Liability at March 31, 2024	0
Other Costs
Restructuring Reserve [Roll Forward]
Liability at December 31, 2023	1,638
2024 charges	4,781
Cash payments	(2,218)
Asset writedowns/disposals	0
Foreign currency translation	(15)
Liability at March 31, 2024	$ 4,186

Restructuring and Asset Impai_5

Restructuring and Asset Impairments - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) employee facility
Restructuring Cost and Reserve [Line Items]
Future additional charges expected to be recognized | $	$ 5,300
Organizational effectiveness efforts
Restructuring Cost and Reserve [Line Items]
Number of eliminated positions (position) | employee	95
Number of facility closures | facility	2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2024		Apr. 02, 2023	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 2,431,835	[1]	$ 2,072,797	$ 2,072,797
Other comprehensive (loss)/income	(19,574)		35,238
Ending balance	2,427,482		2,205,565	2,431,835	[1]
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(267,578)		(338,316)	(338,316)
Other comprehensive (loss)/income before reclassifications	(19,319)		31,569
Other comprehensive (loss)/income	(19,319)		31,569
Ending balance	(286,897)		(306,747)	(267,578)
Foreign Currency Items | Property, Plant and Equipment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss net of tax			0
Foreign Currency Items | Net Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss net of tax	0		0
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(99,627)		(90,973)	(90,973)
Other comprehensive (loss)/income before reclassifications	(932)		(393)
Other comprehensive (loss)/income	43		916
Ending balance	(99,584)		(90,057)	(99,627)
Defined Benefit Pension Items | Property, Plant and Equipment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss net of tax			0
Defined Benefit Pension Items | Net Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss net of tax	975		1,309
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	943		(794)	(794)
Other comprehensive (loss)/income before reclassifications	518		2,645
Other comprehensive (loss)/income	169		2,514
Ending balance	1,112		1,720	943
Cash Flow Hedges | Property, Plant and Equipment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss net of tax			300
Cash Flow Hedges | Net Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss net of tax	(349)		(431)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(366,262)		(430,083)	(430,083)
Other comprehensive (loss)/income before reclassifications	(19,733)		33,821
Other comprehensive (loss)/income	(19,107)		34,999
Ending balance	(385,369)		(395,084)	$ (366,262)
Accumulated Other Comprehensive Loss | Property, Plant and Equipment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss net of tax			300
Accumulated Other Comprehensive Loss | Net Income
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss net of tax	$ 626		$ 878
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Schedule of Effects on Net Income of Significant Amounts Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	$ 1,637,543	$ 1,729,783
Cost of sales	(1,299,990)	(1,355,355)
Income before income taxes	81,496	193,320
Provision for income taxes	(17,360)	(46,912)
Net income	65,273	148,264
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	436	1,062
Cost of sales	(75)	(486)
Net income	(626)	(878)
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	361	576
Provision for income taxes	(12)	(145)
Net income	349	431
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges | Foreign exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	436	1,062
Cost of sales	(75)	(454)
Reclassification out of Accumulated Other Comprehensive Income | Cash Flow Hedges | Foreign exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net sales	0	0
Cost of sales	0	(32)
Reclassification out of Accumulated Other Comprehensive Income | Defined Benefit Pension Items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(1,230)	(1,757)
Provision for income taxes	255	448
Net income	(975)	(1,309)
Reclassification out of Accumulated Other Comprehensive Income | Effect of settlement loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-operating pension costs	0	(686)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of defined benefit pension items
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-operating pension costs	$ (1,230)	$ (1,071)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss - Schedule of Before and After Tax Amounts for Comprehensive Income (Loss) Components (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss) income	$ (19,574)	$ 35,238
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income before reclassifications before tax	(16,788)	31,569
Other comprehensive (loss)/income before reclassifications, tax	(2,531)	0
Other comprehensive (loss)/income before reclassifications, net of tax	(19,319)	31,569
Defined benefit pension items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income before reclassifications before tax	(876)	(760)
Other comprehensive (loss)/income before reclassifications, tax	(56)	367
Other comprehensive (loss)/income before reclassifications, net of tax	(932)	(393)
Other comprehensive income/(loss) before tax	354	997
Other comprehensive income/(loss), tax	(311)	(81)
Other comprehensive (loss) income	43	916
Defined benefit pension items | Net Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income loss before tax	1,230	1,757
Amounts reclassified from accumulated other comprehensive income loss, tax	(255)	(448)
Amounts reclassified from accumulated other comprehensive income loss net of tax	975	1,309
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss)/income before reclassifications before tax	536	3,536
Other comprehensive (loss)/income before reclassifications, tax	(18)	(891)
Other comprehensive (loss)/income before reclassifications, net of tax	518	2,645
Other comprehensive income/(loss) before tax	175	3,361
Other comprehensive income/(loss), tax	(6)	(847)
Other comprehensive (loss) income	169	2,514
Cash Flow Hedges | Property, Plant and Equipment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income loss before tax	0	401
Amounts reclassified from accumulated other comprehensive income loss, tax	0	(101)
Amounts reclassified from accumulated other comprehensive income loss net of tax	0	300
Cash Flow Hedges | Net Income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income loss before tax	(361)	(576)
Amounts reclassified from accumulated other comprehensive income loss, tax	12	145
Amounts reclassified from accumulated other comprehensive income loss net of tax	(349)	(431)
Other comprehensive (loss)/income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income/(loss) before tax	(16,259)	35,927
Other comprehensive income/(loss), tax	(2,848)	(928)
Other comprehensive (loss) income	$ (19,107)	$ 34,999

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of the Changes in Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,810,654	[1]
Foreign currency translation	(7,447)
Measurement period adjustments	(7,130)
Goodwill, ending balance	1,796,077
All Other
Goodwill [Roll Forward]
Goodwill, beginning balance	248,007
Foreign currency translation	(212)
Measurement period adjustments	0
Goodwill, ending balance	247,795
Consumer Packaging | Operating Segments
Goodwill [Roll Forward]
Goodwill, beginning balance	1,056,241
Foreign currency translation	(4,427)
Measurement period adjustments	(7,130)
Goodwill, ending balance	1,044,684
Industrial Paper Packaging | Operating Segments
Goodwill [Roll Forward]
Goodwill, beginning balance	506,406
Foreign currency translation	(2,808)
Measurement period adjustments	0
Goodwill, ending balance	$ 503,598
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		4 Months Ended	7 Months Ended
	Mar. 31, 2024	Apr. 02, 2023	Mar. 31, 2024	Mar. 31, 2024	Dec. 31, 2023	[1]	Dec. 01, 2023	Sep. 08, 2023
Goodwill [Line Items]
Impairment of goodwill	$ 0
Goodwill	1,796,077,000		$ 1,796,077,000	$ 1,796,077,000	$ 1,810,654,000
Indefinite-lived intangible assets	0		0	0
Aggregate amortization expense	22,939,000	$ 21,164,000
Amortization expense on other intangible assets in 2024	90,200,000		90,200,000	90,200,000
Amortization expense on other intangible assets in 2025	78,900,000		78,900,000	78,900,000
Amortization expense on other intangible assets in 2026	75,000,000		75,000,000	75,000,000
Amortization expense on other intangible assets in 2027	73,900,000		73,900,000	73,900,000
Amortization expense on other intangible assets in 2028	$ 72,900,000		$ 72,900,000	$ 72,900,000
Minimum | Other
Goodwill [Line Items]
Useful lives of intangible asset	3 years		3 years	3 years
Maximum | Other
Goodwill [Line Items]
Useful lives of intangible asset	40 years		40 years	40 years
RTS Packaging and Chattanooga Mill
Goodwill [Line Items]
Goodwill	$ 107,566,000		$ 107,566,000	$ 107,566,000				$ 92,657,000
Other intangible assets				(8,995,000)
Inapel
Goodwill [Line Items]
Goodwill	8,574,000		8,574,000	8,574,000			$ 15,704,000
Other intangible assets			(1,094,000)
Plastics - Medical Reporting Unit
Goodwill [Line Items]
Goodwill	$ 63,991,000		$ 63,991,000	$ 63,991,000
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Total Other Intangible Assets, gross	$ 1,412,651	$ 1,417,602
Total Accumulated Amortization	(584,566)	(563,932)
Other Intangible Assets, net	828,085	853,670	[1]
Patents
Finite-Lived Intangible Assets [Line Items]
Total Other Intangible Assets, gross	29,297	29,304
Total Accumulated Amortization	(19,956)	(19,549)
Customer lists
Finite-Lived Intangible Assets [Line Items]
Total Other Intangible Assets, gross	1,277,948	1,282,689
Total Accumulated Amortization	(511,699)	(493,778)
Trade names
Finite-Lived Intangible Assets [Line Items]
Total Other Intangible Assets, gross	41,738	41,836
Total Accumulated Amortization	(20,146)	(18,845)
Proprietary technology
Finite-Lived Intangible Assets [Line Items]
Total Other Intangible Assets, gross	56,848	56,857
Total Accumulated Amortization	(29,971)	(29,013)
Other
Finite-Lived Intangible Assets [Line Items]
Total Other Intangible Assets, gross	6,820	6,916
Total Accumulated Amortization	$ (2,794)	$ (2,747)
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).

Supply Chain Financing (Details

Supply Chain Financing (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Payable to suppliers	$ 35,645	$ 35,847

Financial Instruments and Der_3

Financial Instruments and Derivatives - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net of current portion	$ 2,630,424	$ 3,035,868
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net of current portion	$ 2,485,816	$ 2,890,009

Financial Instruments and Der_4

Financial Instruments and Derivatives - Additional Information (Details) ₺ in Thousands, € in Thousands, zł in Thousands, kr in Thousands, R$ in Thousands, MMBTU in Thousands, Kč in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands		3 Months Ended		12 Months Ended
	Apr. 15, 2024 USD ($)	Mar. 31, 2024 USD ($) MMBTU t	Apr. 02, 2023 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2024 COP ($)	Mar. 31, 2024 MXN ($)	Mar. 31, 2024 PLN (zł)	Mar. 31, 2024 DKK (kr)	Mar. 31, 2024 CZK (Kč)	Mar. 31, 2024 CAD ($)	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 TRY (₺)	Mar. 31, 2024 BRL (R$)
Derivative [Line Items]
Derivatives net of tax		$ (19,574)	$ 35,238
Total fair value of other derivatives not designated as hedging instruments		(6,690)		$ (6,790)
Cash Flow Hedging | Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Fair value of commodity cash flow hedges, loss		(66)		(41)
Commodity loss expected to be reclassified to the income statement during the next 12 months		(66)
Fair value of foreign currency cash flow hedges, gain (loss)		1,697		1,502
Foreign currency gains (loss) expected to be reclassified to the income statement during the next 12 months		$ 1,697
Notional amount					$ 16,966,782	$ 429,499	zł 98,802	kr 34,765	Kč 86,121	$ 25,729	€ 1,744	₺ 43,173	R$ 41819
Net investment hedge | Derivatives Designated as Hedging Instruments | Subsequent Event | Currency Swap
Derivative [Line Items]
Received a cash settlement	$ 11,634
Foreign currency translation gain	3,143
Natural Gas Swaps | Derivatives Not Designated as Hedging Instruments
Derivative [Line Items]
Approximate amount of commodity covered by swap contracts outstanding (in MMBTUs) | MMBTU		6,600
Anticipated usage percentage covered by a swap contract for the current fiscal year (percent)		87%			87%	87%	87%	87%	87%	87%	87%	87%	87%
Anticipated usage percentage covered by a swap contract for year two (percent)		33%			33%	33%	33%	33%	33%	33%	33%	33%	33%
Natural Gas Swaps | Cash Flow Hedging | Derivatives Designated as Hedging Instruments
Derivative [Line Items]
Approximate amount of commodity covered by swap contracts outstanding (in MMBTUs) | MMBTU		50
Anticipated usage percentage covered by a swap contract for the current fiscal year (percent)		0.90%			0.90%	0.90%	0.90%	0.90%	0.90%	0.90%	0.90%	0.90%	0.90%
Approximate amount of commodity covered by swap contracts outstanding (in tons) | t		355
Currency Swap | Net investment hedge
Derivative [Line Items]
Notional amount				500,000
Gain (loss) on derivative used in net investment hedge, after tax		$ 4,850		5,073
Derivatives net of tax		3,613		3,779
Net investment hedges, tax		$ (1,237)		$ 1,294
Currency Swap | Net investment hedge | Subsequent Event
Derivative [Line Items]
Notional amount	$ 500,000

Financial Instruments and Der_5

Financial Instruments and Derivatives - Schedule of Net Positions of Foreign Contracts (Details) - Mar. 31, 2024 - Cash Flow Hedging - Derivatives Designated as Hedging Instruments ₺ in Thousands, € in Thousands, £ in Thousands, zł in Thousands, kr in Thousands, kr in Thousands, R$ in Thousands, Kč in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	COP ($)	MXN ($)	PLN (zł)	DKK (kr)	SEK (kr)	CZK (Kč)	CAD ($)	EUR (€)	TRY (₺)	BRL (R$)	GBP (£)
Derivative [Line Items]
Purchase position of derivatives	$ 16,966,782	$ 429,499	zł 98,802	kr 34,765		Kč 86,121	$ 25,729	€ 1,744	₺ 43,173	R$ 41819
Sell position of derivatives					kr (4,855)						£ (800)

Financial Instruments and Der_6

Financial Instruments and Derivatives - Schedule of Net Positions of Other Derivatives Contracts (Details) - Mar. 31, 2024 Rp in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	COP ($)	MXN ($)	CAD ($)	IDR (Rp)
Derivatives Not Designated as Hedging Instruments | Purchase
Derivative [Line Items]
Purchase position of derivatives	$ 67,308,931	$ 412,841	$ 7,981	Rp 19,814,218

Financial Instruments and Der_7

Financial Instruments and Derivatives - Schedule of Location and Fair Values of Derivative Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Prepaid expenses | Commodity contracts | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset	$ 28	$ 67
Prepaid expenses | Commodity contracts | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset	103	12
Prepaid expenses | Foreign exchange contracts | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset	2,323	2,525
Prepaid expenses | Foreign exchange contracts | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset	5	130
Prepaid expenses | Net investment hedge | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset	4,192	5,567
Other assets | Commodity contracts | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset	250	0
Other assets | Net investment hedge | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset	744	0
Accrued expenses and other | Commodity contracts | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability	(94)	(108)
Accrued expenses and other | Commodity contracts | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability	(6,666)	(6,782)
Accrued expenses and other | Foreign exchange contracts | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability	(626)	(1,024)
Accrued expenses and other | Foreign exchange contracts | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability	(206)	(159)
Other liabilities | Commodity contracts | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability	(176)	0
Other liabilities | Net investment hedge | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability	$ (86)	$ (10,640)

Financial Instruments and Der_8

Financial Instruments and Derivatives - Schedule of Effect of Derivative Instruments on Financial Performance (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized	$ 286	$ (6,085)
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives	561	3,613
Foreign exchange contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized	305	2,137
Foreign exchange contracts | Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI Into Income	436	1,062
Foreign exchange contracts | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI Into Income	(75)	(454)
Commodity contracts
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivatives	(25)	(77)
Commodity contracts | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (Loss) Recognized	(2,558)	(9,708)
Commodity contracts | Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI Into Income	$ 0	$ (32)

Financial Instruments and Der_9

Financial Instruments and Derivatives - Schedule of Reclassification of Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	$ 1,637,543	$ 1,729,783
Cost of sales	(1,299,990)	(1,355,355)
Reclassification out of Accumulated Other Comprehensive loss into net (loss)/income
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	436	1,062
Cost of sales	(75)	(486)
Reclassification out of Accumulated Other Comprehensive loss into net (loss)/income | Foreign exchange contracts | Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	436	1,062
Cost of sales	(75)	(454)
Reclassification out of Accumulated Other Comprehensive loss into net (loss)/income | Commodity contracts | Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Revenue	0	0
Cost of sales	$ 0	$ (32)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Recurring basis - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives Designated as Hedging Instruments | Net investment hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	$ 4,850	$ (5,073)
Derivatives Designated as Hedging Instruments | Assets measured at NAV | Net investment hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives Designated as Hedging Instruments | Level 1 | Net investment hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Derivatives Designated as Hedging Instruments | Level 2 | Net investment hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	4,850	(5,073)
Derivatives Designated as Hedging Instruments | Level 3 | Net investment hedge
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Commodity contracts | Derivatives Designated as Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	(66)	(41)
Commodity contracts | Derivatives Designated as Hedging Instruments | Assets measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Commodity contracts | Derivatives Designated as Hedging Instruments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Commodity contracts | Derivatives Designated as Hedging Instruments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	(66)	(41)
Commodity contracts | Derivatives Designated as Hedging Instruments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Commodity contracts | Derivatives Not Designated as Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	(6,489)	(6,770)
Commodity contracts | Derivatives Not Designated as Hedging Instruments | Assets measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Commodity contracts | Derivatives Not Designated as Hedging Instruments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Commodity contracts | Derivatives Not Designated as Hedging Instruments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	(6,489)	(6,770)
Commodity contracts | Derivatives Not Designated as Hedging Instruments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Foreign exchange contracts | Derivatives Designated as Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	1,697	1,502
Foreign exchange contracts | Derivatives Designated as Hedging Instruments | Assets measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Foreign exchange contracts | Derivatives Designated as Hedging Instruments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Foreign exchange contracts | Derivatives Designated as Hedging Instruments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	1,697	1,502
Foreign exchange contracts | Derivatives Designated as Hedging Instruments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Foreign exchange contracts | Derivatives Not Designated as Hedging Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	(201)	(29)
Foreign exchange contracts | Derivatives Not Designated as Hedging Instruments | Assets measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Foreign exchange contracts | Derivatives Not Designated as Hedging Instruments | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	0	0
Foreign exchange contracts | Derivatives Not Designated as Hedging Instruments | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	(201)	(29)
Foreign exchange contracts | Derivatives Not Designated as Hedging Instruments | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	$ 0	$ 0

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Components of Net Periodic Benefit Cost/(Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 755	$ 687
Interest cost	4,709	4,294
Expected return on plan assets	(2,796)	(2,444)
Amortization of prior service cost	205	219
Amortization of net actuarial loss (gain)	1,075	1,045
Effect of settlement loss	0	686
Net periodic benefit cost/(income)	3,948	4,487
Retiree Health and Life Insurance Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	54	62
Interest cost	250	130
Expected return on plan assets	(98)	(79)
Amortization of prior service cost	96	0
Amortization of net actuarial loss (gain)	(146)	(193)
Net periodic benefit cost/(income)	$ 156	$ (80)

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Defined Benefit Plan Disclosure [Line Items]
Contributions	$ 3,989	$ 4,931
Expected contributions for remainder of fiscal year	16,300
Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Settlement losses recognized	0	686
Sonoco Pension Plan for Inactive Participants | Retirement Plans
Defined Benefit Plan Disclosure [Line Items]
Settlement losses recognized	$ 0	$ 686

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	21.30%	24.30%
Increase of uncertain tax benefits	$ 137
Possible decrease in reserve for unrecognized tax benefits	$ 9,432

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 option	Sep. 08, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Number of renewal options | option	1
Lease term	10 years
RTS Packaging and Chattanooga Mill
Lessee, Lease, Description [Line Items]
Lease liabilities | $		$ 34,604
Minimum
Lessee, Lease, Description [Line Items]
Lease renewal terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease renewal terms	5 years

Leases - Schedule of Balance Sh

Leases - Schedule of Balance Sheet Location and Values of Company's Lease Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease assets	$ 332,587	$ 314,944	[1]
Finance lease assets	92,684	94,026
Total lease assets	425,271	408,970
Current operating lease liabilities	55,269	54,803
Current finance lease liabilities	23,259	18,791
Total current lease liabilities	78,528	73,594
Noncurrent operating lease liabilities	282,877	265,454	[1]
Noncurrent finance lease liabilities	63,955	70,203
Total noncurrent lease liabilities	346,832	335,657
Total lease liabilities	$ 425,360	$ 409,251
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets	Other Assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other	Accrued expenses and other
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Notes payable and current portion of long-term debt	Notes payable and current portion of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-Term Debt, Excluding Current Maturities	Long-Term Debt, Excluding Current Maturities
[1] The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (the “United States” or “U.S.”).

Leases - Schedule of Components

Leases - Schedule of Components of Company's Total Lease Costs and Other Lease Related Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Leases [Abstract]
Operating lease cost	$ 16,192	$ 13,411
Amortization of lease asset	3,440	3,270
Interest on lease liabilities	1,056	1,194
Variable lease cost	10,100	9,378
Total lease cost	$ 30,788	$ 27,253

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Remaining Lease Terms, Discounts Rates and Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used by operating leases	$ 14,355	$ 13,561
Operating cash flows used by finance leases	1,056	1,194
Financing cash flows used by finance leases	3,946	4,581
Leased assets obtained in exchange for new operating lease liabilities	26,818	6,513
Leased assets obtained in exchange for new finance lease liabilities	2,292	2,805
Modification to leased assets for increase in operating lease liabilities	4,171	3,957
Termination reclasses to decrease operating lease assets	(1,202)	(2,029)
Termination reclasses to decrease operating lease liabilities	(1,432)	(2,090)
Termination reclasses to decrease finance lease assets	0	(962)
Termination reclasses to decrease finance lease liabilities	$ 0	$ (12)

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Payment terms	120 days

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Effects of Contract Assets and Liabilities from Contracts with Customers (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract Assets	$ 53,170	$ 54,334	$ 56,008
Contract Liabilities	$ (21,758)	$ (24,973)	$ (22,423)

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Significant Changes in the Contract Assets and Liabilities Balances (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Contract Asset
Beginning Balance	$ 54,334	$ 56,008
Increases due to rights to consideration for customer specific goods produced, but not billed during the period	53,170	54,334
Transferred to receivables from contract assets recognized at the beginning of the period and acquired as part of business combinations	(54,334)	(56,008)
Ending Balance	53,170	54,334
Contract Liability
Beginning Balance	(24,973)	(22,423)
Acquired as part of a business combination		(1,436)
Revenue deferred or rebates accrued	(16,449)	(53,464)
Recognized as revenue	2,079	11,761
Rebates paid to customers	17,585	40,589
Ending Balance	$ (21,758)	$ (24,973)

Revenue Recognition - Schedul_3

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 1,637,543	$ 1,729,783
United States
Disaggregation of Revenue [Line Items]
Revenue	1,141,849	1,225,698
Europe
Disaggregation of Revenue [Line Items]
Revenue	224,877	244,699
Canada
Disaggregation of Revenue [Line Items]
Revenue	55,222	55,755
Asia
Disaggregation of Revenue [Line Items]
Revenue	83,209	83,297
Other
Disaggregation of Revenue [Line Items]
Revenue	132,386	120,334
Operating Segments
Disaggregation of Revenue [Line Items]
Revenue	1,503,637	1,573,863
Operating Segments | Consumer Packaging
Disaggregation of Revenue [Line Items]
Revenue	910,577	958,008
Operating Segments | Industrial Paper Packaging
Disaggregation of Revenue [Line Items]
Revenue	593,060	615,855
Operating Segments | United States | Consumer Packaging
Disaggregation of Revenue [Line Items]
Revenue	677,915	737,791
Operating Segments | United States | Industrial Paper Packaging
Disaggregation of Revenue [Line Items]
Revenue	354,366	360,780
Operating Segments | Europe | Consumer Packaging
Disaggregation of Revenue [Line Items]
Revenue	112,787	118,840
Operating Segments | Europe | Industrial Paper Packaging
Disaggregation of Revenue [Line Items]
Revenue	97,700	107,808
Operating Segments | Canada | Consumer Packaging
Disaggregation of Revenue [Line Items]
Revenue	30,452	28,803
Operating Segments | Canada | Industrial Paper Packaging
Disaggregation of Revenue [Line Items]
Revenue	24,770	26,952
Operating Segments | Asia | Consumer Packaging
Disaggregation of Revenue [Line Items]
Revenue	25,905	24,136
Operating Segments | Asia | Industrial Paper Packaging
Disaggregation of Revenue [Line Items]
Revenue	56,950	58,831
Operating Segments | Other | Consumer Packaging
Disaggregation of Revenue [Line Items]
Revenue	63,518	48,438
Operating Segments | Other | Industrial Paper Packaging
Disaggregation of Revenue [Line Items]
Revenue	59,274	61,484
All Other
Disaggregation of Revenue [Line Items]
Revenue	133,906	155,920
All Other | United States
Disaggregation of Revenue [Line Items]
Revenue	109,568	127,127
All Other | Europe
Disaggregation of Revenue [Line Items]
Revenue	14,390	18,051
All Other | Canada
Disaggregation of Revenue [Line Items]
Revenue	0	0
All Other | Asia
Disaggregation of Revenue [Line Items]
Revenue	354	330
All Other | Other
Disaggregation of Revenue [Line Items]
Revenue	$ 9,594	$ 10,412

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	3 Months Ended
	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Reporting - Schedule of

Segment Reporting - Schedule of Segment Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Apr. 02, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,637,543	$ 1,729,783
Operating profit	112,453	229,648
Restructuring/Asset impairment charges	(31,618)	(28,814)
Amortization of acquisition intangibles	(22,939)	(21,164)
Gains from divestiture of business and other assets	0	72,010
Acquisition, integration and divestiture-related costs	(5,661)	(5,188)
Changes in LIFO inventory reserves	(431)	5,425
Derivative gains/(losses)	286	(6,085)
Other operating (charges)/income, net(3)	(3,180)	43
Non-operating pension costs	(3,295)	(3,658)
Interest expense	(31,220)	(34,232)
Interest income	3,558	1,562
Income before income taxes	81,496	193,320
Intersegment sales
Segment Reporting Information [Line Items]
Net sales	33,753	43,516
Operating Segments
Segment Reporting Information [Line Items]
Net sales	1,503,637	1,573,863
Operating profit	158,871	190,861
Operating Segments | Intersegment sales
Segment Reporting Information [Line Items]
Net sales	31,962	40,727
Operating Segments | Consumer Packaging
Segment Reporting Information [Line Items]
Net sales	910,577	958,008
Operating profit	93,027	96,494
Operating Segments | Consumer Packaging | Intersegment sales
Segment Reporting Information [Line Items]
Net sales	3,545	2,007
Operating Segments | Industrial Paper Packaging
Segment Reporting Information [Line Items]
Net sales	593,060	615,855
Operating profit	65,844	94,367
Operating Segments | Industrial Paper Packaging | Intersegment sales
Segment Reporting Information [Line Items]
Net sales	28,417	38,720
All Other
Segment Reporting Information [Line Items]
Net sales	133,906	155,920
Operating profit	17,125	22,560
All Other | Intersegment sales
Segment Reporting Information [Line Items]
Net sales	$ 1,791	$ 2,789

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	149 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Site Contingency [Line Items]
Environmental accrual	$ 7,226	$ 7,251
Multiple Sites
Site Contingency [Line Items]
Environmental accrual	2,001	1,992
Tegrant Holding Corporation
Site Contingency [Line Items]
Payment towards remediation of sites	2,175
Tegrant Holding Corporation | Spartanburg, South Carolina Site
Site Contingency [Line Items]
Environmental accrual	$ 5,225	$ 5,259