10-Q Filing

PACKAGING CORP OF AMERICA CIK: 75677 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-012154`
Period End Date	20180331
Filing Date	20180509
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	pkg-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 38 Cash Flow Statement 56 Comprehensive Income 4

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts and customer deductions	`AllowanceForDoubtfulAccountsReceivableAndReserveForCustomerDeductionsCurrent`	$13.10M	USD	Point-in-time
Allowance for doubtful accounts and customer deductions	`AllowanceForDoubtfulAccountsReceivableAndReserveForCustomerDeductionsCurrent`	$12.60M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$216.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.40M	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`	$254.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$239.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	94.30M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	94.30M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $13.1 million and $12.6 million as of March 31, 2018, and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$830.70M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts and customer deductions of $13.1 million and $12.6 million as of March 31, 2018, and December 31, 2017, respectively	`AccountsReceivableNetCurrent`	$860.20M	USD	Point-in-time
Inventories	`InventoryNet`	$762.50M	USD	Point-in-time
Inventories	`InventoryNet`	$766.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$35.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$55.00M	USD	Point-in-time
Federal and state income taxes receivable	`IncomeTaxesReceivable`	$69.50M	USD	Point-in-time
Federal and state income taxes receivable	`IncomeTaxesReceivable`	$48.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.83B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.92B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$2.92B	USD	Point-in-time
Property, plant, and equipment, net	`PropertyPlantAndEquipmentNet`	$2.96B	USD	Point-in-time
Goodwill	`Goodwill`	$883.20M	USD	Point-in-time
Goodwill	`Goodwill`	$883.20M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$399.60M	USD	Point-in-time
Other intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$410.00M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$64.30M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$63.00M	USD	Point-in-time
Total assets	`Assets`	$6.20B	USD	Point-in-time
Total assets	`Assets`	$6.14B	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$150.00M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$1.40M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsCurrent`	$1.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$402.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$427.30M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$60.60M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$60.50M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$203.20M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$157.00M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$27.30M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$14.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$673.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$832.70M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.48B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.48B	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$18.60M	USD	Point-in-time
Capital lease obligations	`CapitalLeaseObligationsNoncurrent`	$19.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$256.70M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$239.50M	USD	Point-in-time
Compensation and benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$373.00M	USD	Point-in-time
Compensation and benefits	`PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent`	$372.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$70.80M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$62.90M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$3.18B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$3.19B	USD	Point-in-time
Commitments and contingent liabilities	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingent liabilities	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.01 per share, 300.0 million shares authorized, 94.3 million shares issued as of March 31, 2018, and December 31, 2017	`CommonStockValue`	$900.00K	USD	Point-in-time
Common stock, par value $0.01 per share, 300.0 million shares authorized, 94.3 million shares issued as of March 31, 2018, and December 31, 2017	`CommonStockValue`	$900.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$476.30M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$471.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.87B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.95B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-156.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-153.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.27B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$2.18B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.14B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$6.20B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.69B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.54B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.33B	USD	1 Quarter
Cost of sales	`CostOfGoodsSold`	$1.20B	USD	1 Quarter
Gross profit	`GrossProfit`	$356.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$338.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$127.80M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$134.90M	USD	1 Quarter
Other expense, net	`OperatingCostsAndExpenses`	$8.30M	USD	1 Quarter
Other expense, net	`OperatingCostsAndExpenses`	$7.00M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$212.90M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$203.40M	USD	1 Quarter
Interest expense, net and other	`InterestIncomeExpenseAndOtherNonoperatingNet`	$-24.30M	USD	1 Quarter
Interest expense, net and other	`InterestIncomeExpenseAndOtherNonoperatingNet`	$-26.30M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$179.10M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$186.60M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$61.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$46.50M	USD	1 Quarter
Net income	`ProfitLoss`	$117.40M	USD	1 Quarter
Net income	`ProfitLoss`	$140.10M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.25	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.48	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.24	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.48	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.63	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.63	USD	1 Quarter
Net income	`ProfitLoss`	$117.40M	USD	1 Quarter
Net income	`ProfitLoss`	$140.10M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-100.00K	USD	1 Quarter
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.4 million and $0.5 million	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-1.00M	USD	1 Quarter
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.4 million and $0.5 million	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax`	$-900.00K	USD	1 Quarter
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.0 million and $1.2 million	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$3.00M	USD	1 Quarter
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $1.0 million and $1.2 million	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansNetOfTax`	$2.20M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$2.90M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTax`	$3.90M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$120.30M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$144.00M	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$140.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$117.40M	USD	1 Quarter
Depreciation, depletion, and amortization of intangibles	`DepreciationDepletionAmortizationAndOtherCashFlowImpact`	$92.50M	USD	1 Quarter
Depreciation, depletion, and amortization of intangibles	`DepreciationDepletionAmortizationAndOtherCashFlowImpact`	$108.10M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$2.00M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfDeferredCharges`	$2.30M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$5.10M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$4.60M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$12.20M	USD	1 Quarter
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$15.90M	USD	1 Quarter
Pension and post retirement benefits expense, net of contributions	`PensionAndPostretirementBenefitsContributionsExpenseNet`	$-3.90M	USD	1 Quarter
Pension and post retirement benefits expense, net of contributions	`PensionAndPostretirementBenefitsContributionsExpenseNet`	$-1.10M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-1.00M	USD	1 Quarter
Other, net	`OtherOperatingActivitiesCashFlowStatement`	$-1.80M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$44.10M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$22.90M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$20.90M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$8.40M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$17.00M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$15.40M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$25.60M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-42.90M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-48.50M	USD	1 Quarter
Federal and state income taxes payable / receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-39.40M	USD	1 Quarter
Federal and state income taxes payable / receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-20.30M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$202.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$164.10M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.80M	USD	1 Quarter
Additions to property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$108.00M	USD	1 Quarter
Additions to other long term assets	`PaymentsToAcquireOtherProductiveAssets`	$2.90M	USD	1 Quarter
Additions to other long term assets	`PaymentsToAcquireOtherProductiveAssets`	$1.90M	USD	1 Quarter
Proceeds from disposals	`ProceedsFromSaleOfProductiveAssets`	$1.70M	USD	1 Quarter
Proceeds from disposals	`ProceedsFromSaleOfProductiveAssets`	$100.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.60M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.20M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-107.20M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-57.80M	USD	1 Quarter
Repayments of debt and capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$150.30M	USD	1 Quarter
Repayments of debt and capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$31.70M	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$59.40M	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$59.40M	USD	1 Quarter
Shares withheld to cover employee restricted stock taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$100.00K	USD	1 Quarter
Shares withheld to cover employee restricted stock taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$500.00K	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-209.80M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-91.60M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-114.50M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$14.70M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$216.90M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$102.40M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$254.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$239.30M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$216.90M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$102.40M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$254.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$239.30M	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Reclassification adjustments to cash flow hedges included in net income, tax	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax`	$-500.00K	USD	1 Quarter
Reclassification adjustments to cash flow hedges included in net income, tax	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesTax`	$-400.00K	USD	1 Quarter
Amortization of pension and postretirement plans actuarial loss and prior service cost, tax	`OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostAndNetLossRecognizedInNetPeriodicPensionCostTax`	$1.20M	USD	1 Quarter
Amortization of pension and postretirement plans actuarial loss and prior service cost, tax	`OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostAndNetLossRecognizedInNetPeriodicPensionCostTax`	$1.00M	USD	1 Quarter

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