10-Q Filing

PACKAGING CORP OF AMERICA CIK: 75677 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001193125-12-218241`
Period End Date	20120331
Filing Date	20120508
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	pkg-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 43 Cash Flow Statement 62

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable and customer deductions	`AllowanceForDoubtfulAccountsReceivableAndReserveForCustomerDeductionsCurrent`	$5.31M	USD	Point-in-time
Allowance for doubtful accounts receivable and customer deductions	`AllowanceForDoubtfulAccountsReceivableAndReserveForCustomerDeductionsCurrent`	$5.03M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$173.01M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$156.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.02M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$196.56M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $5,314 and $5,034 as of March 31, 2012 and December 31, 2011, respectively	`AccountsReceivableNetCurrent`	$348.27M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	98.32M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $5,314 and $5,034 as of March 31, 2012 and December 31, 2011, respectively	`AccountsReceivableNetCurrent`	$319.99M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	98.03M	shares	Point-in-time
Inventories	`InventoryNet`	$263.28M	USD	Point-in-time
Common stock held in treasury, shares	`TreasuryStockNumberOfSharesHeld`	2,355.00	shares	Point-in-time
Inventories	`InventoryNet`	$254.68M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$26.10M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.30M	USD	Point-in-time
Federal and state income taxes receivable	`IncomeTaxesReceivable`	$94.08M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$62.79M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$49.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$812.06M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$865.20M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.48B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$1.48B	USD	Point-in-time
Goodwill	`Goodwill`	$58.21M	USD	Point-in-time
Goodwill	`Goodwill`	$71.68M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$36.49M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$25.04M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$40.53M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$41.86M	USD	Point-in-time
Total assets	`Assets`	$2.41B	USD	Point-in-time
Total assets	`Assets`	$2.49B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$15.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$15.00M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$918.00K	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$718.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$154.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$153.03M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$24.63M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$19.68M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$12.58M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$4.39M	USD	Point-in-time
Federal and state income taxes payable	`AccruedIncomeTaxesCurrent`	$10.40M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$122.78M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$163.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$320.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$376.50M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$793.45M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$789.78M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$25.63M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$21.11M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.92M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$150.83M	USD	Point-in-time
Pension and postretirement benefit plans	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$148.69M	USD	Point-in-time
Pension and postretirement benefit plans	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$153.43M	USD	Point-in-time
Cellulosic biofuel tax reserve	`CellulosicBiofuelTaxReserve`	$102.05M	USD	Point-in-time
Cellulosic biofuel tax reserve	`CellulosicBiofuelTaxReserve`	$102.05M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$27.94M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$29.87M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.11B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.25B	USD	Point-in-time
Common stock, par value $0.01 per share, 300,000,000 shares authorized, 98,027,922 and 98,324,974 shares issued as of March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$983.00K	USD	Point-in-time
Common stock, par value $0.01 per share, 300,000,000 shares authorized, 98,027,922 and 98,324,974 shares issued as of March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$980.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$351.80M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$361.14M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$673.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$648.69M	USD	Point-in-time
Unrealized loss on treasury locks, net	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromInterestRateCashFlowHedgesEffectNetOfTax`	$-16.05M	USD	Point-in-time
Unrealized loss on treasury locks, net	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromInterestRateCashFlowHedgesEffectNetOfTax`	$-23.29M	USD	Point-in-time
Unrealized loss on foreign currency exchange contracts	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromForeignCurrencyCashFlowHedgesEffectNetOfTax`	$-408.00K	USD	Point-in-time
Unrealized loss on foreign currency exchange contracts	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromForeignCurrencyCashFlowHedgesEffectNetOfTax`	$-413.00K	USD	Point-in-time
Unfunded employee benefit obligations	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$74.08M	USD	Point-in-time
Unfunded employee benefit obligations	`AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax`	$72.40M	USD	Point-in-time
Total accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-97.78M	USD	Point-in-time
Total accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-88.86M	USD	Point-in-time
Common stock held in treasury, at cost (2,355 shares as of December 31, 2011)	`TreasuryStockValue`	$59.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$921.94M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$928.91M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.41B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.49B	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$671.36M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$629.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$496.36M	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$526.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$133.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$145.02M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$51.94M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$47.95M	USD	1 Quarter
Corporate overhead	`CorporateOverhead`	$15.55M	USD	1 Quarter
Corporate overhead	`CorporateOverhead`	$16.89M	USD	1 Quarter
Alternative fuel mixture credits	`AlternativeFuelMixtureTaxCredits`	$95.50M	USD	1 Quarter
Other expense, net	`OtherIncomeExpenseNet`	$3.73M	USD	1 Quarter
Other expense, net	`OtherIncomeExpenseNet`	$2.58M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$169.11M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$65.90M	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$6.90M	USD	1 Quarter
Interest expense, net	`InterestExpenseNet`	$9.68M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$159.43M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$59.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$21.58M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$141.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.84M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.42M	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	96.60M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	100.74M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	97.73M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	101.91M	shares	1 Quarter
Basic	`EarningsPerShareBasic`	$0.37	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.37	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.25	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Fair value adjustments to cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease`	$5.68M	USD	1 Quarter
Fair value adjustments to cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPeriodIncreaseDecrease`	$7.52M	USD	1 Quarter
Reclassification adjustment for cash flow hedges included in net income	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax`	$282.00K	USD	1 Quarter
Reclassification adjustment for cash flow hedges included in net income	`OtherComprehensiveIncomeReclassificationAdjustmentOnDerivativesIncludedInNetIncomeNetOfTax`	$277.00K	USD	1 Quarter
Amortization of pension and postretirement plans actuarial loss and prior service cost	`OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostAndNetLossRecognizedInNetPeriodicPensionCostNetOfTax`	$1.67M	USD	1 Quarter
Amortization of pension and postretirement plans actuarial loss and prior service cost	`OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostAndNetLossRecognizedInNetPeriodicPensionCostNetOfTax`	$951.00K	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$8.91M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$6.35M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$43.77M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$26.76M	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.84M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.42M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$42.64M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$39.30M	USD	1 Quarter
Amortization of financing costs	`AmortizationOfFinancingCosts`	$196.00K	USD	1 Quarter
Amortization of financing costs	`AmortizationOfFinancingCosts`	$138.00K	USD	1 Quarter
Amortization of net gain on treasury lock	`AmortizationOfDeferredHedgeGains`	$-462.00K	USD	1 Quarter
Amortization of net gain on treasury lock	`AmortizationOfDeferredHedgeGains`	$-462.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$1.75M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$2.59M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$10.76M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$4.50M	USD	1 Quarter
Cellulosic biofuel producer credit reduction (amended 2009 return)	`CellulosicBiofuelProducerCreditReduction`	$142.25M	USD	1 Quarter
Alternative fuel mixture credit increase (amended 2009 return)	`AlternativeFuelMixtureCreditIncrease`	$119.24M	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.41M	USD	1 Quarter
Loss on disposals of property, plant and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-3.35M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$5.49M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$5.48M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$15.66M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$21.12M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.73M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-7.23M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.66M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.54M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.93M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.55M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-22.83M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-37.38M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$63.95M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$34.95M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.81M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$64.73M	USD	1 Quarter
Acquisition of business	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$35.53M	USD	1 Quarter
Additions to other long term assets	`PaymentsToAcquireOtherProductiveAssets`	$1.41M	USD	1 Quarter
Additions to other long term assets	`PaymentsToAcquireOtherProductiveAssets`	$2.04M	USD	1 Quarter
Proceeds from disposals of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$11.00K	USD	1 Quarter
Proceeds from disposals of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$289.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-66.49M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-71.74M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$3.96M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$163.00K	USD	1 Quarter
Settlement of treasury lock	`PaymentsForProceedsFromHedgeFinancingActivities`	$-9.91M	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$15.35M	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$19.66M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$19.09M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$23.23M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.21M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$10.22M	USD	1 Quarter
Excess tax benefits from share-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$1.13M	USD	1 Quarter
Excess tax benefits from share-based awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$489.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-35.50M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.00M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-72.30M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-23.54M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$173.01M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$156.31M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$84.02M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$196.56M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$173.01M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$156.31M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$84.02M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$196.56M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.