v3.25.2
Segment Reporting (Tables)
 6 Months Ended
Jun. 29, 2025
Segment Reporting [Abstract]  
Schedule of Segment Financial Information
The following table sets forth financial information about each of the Company’s reportable segments:
SEGMENT FINANCIAL INFORMATION 
Three-month period ended June 29, 2025Consumer PackagingIndustrial Paper PackagingTotal Reportable Segments
Sales from external customers$1,227,033 $588,239 $1,815,272 
Intersegment sales(1)
2,548 26,522 29,070 
1,229,581 614,761 1,844,342 
Reconciliation of sales
Other sales(2)
96,341 
Elimination of intersegment sales(30,242)
Total consolidated sales1,910,441 
Less:(3)
Cost of sales(4)
(989,484)(442,971)
Other segment items(5)
(79,744)(90,559)
Segment operating profit$160,353 $81,231 $241,584 
Other segment disclosures:
Equity in earnings of affiliates, net of tax$170 $2,100 
Depreciation and amortization(6)
$52,801 $29,838 
Three-month period ended June 30, 2024Consumer PackagingIndustrial Paper PackagingTotal Reportable Segments
Sales from external customers$583,051 $600,770 $1,183,821 
Intersegment sales(1)
2,050 26,887 28,937 
585,101 627,657 1,212,758 
Reconciliation of sales
Other sales(2)
96,839 
Elimination of intersegment sales(30,796)
Total consolidated sales1,278,801 
Less:(3)
Cost of sales(4)
(462,567)(466,337)
Other segment items(5)
(48,778)(94,362)
Segment operating profit$73,756 $66,958 $140,714 
Other segment disclosures:
Equity in earnings of affiliates, net of tax$35 $2,239 
Depreciation and amortization(6)
$25,232 $28,641 

Six-month period ended June 29, 2025Consumer PackagingIndustrial Paper PackagingTotal Reportable Segments
Sales from external customers$2,293,626 $1,145,948 $3,439,574 
Intersegment sales(1)
5,317 53,537 58,854 
2,298,943 1,199,485 3,498,428 
Reconciliation of sales
Other sales(2)
182,630 
Elimination of intersegment sales(61,389)
Total consolidated sales3,619,669 
Less:(3)
Cost of sales(4)
(1,843,216)(864,954)
Other segment items(5)(154,603)(182,176)
Segment operating profit$301,124 $152,355 $453,479 
Other segment disclosures:
Equity in earnings of affiliates, net of tax$119 $4,072 
Depreciation and amortization(6)
$101,756 $58,171 
Six-month period ended June 30, 2024Consumer PackagingIndustrial Paper PackagingTotal Reportable Segments
Sales from external customers$1,164,721 $1,193,830 $2,358,551 
Intersegment sales(1)
3,824 55,304 59,128 
1,168,545 1,249,134 2,417,679 
Reconciliation of sales
Other sales(2)
232,536 
Elimination of intersegment sales(62,778)
Total consolidated sales2,587,437 
Less:(3)
Cost of sales(4)
(942,057)(925,471)
Other segment items(5)(94,165)(190,861)
Segment operating profit$132,323 $132,802 $265,125 
Other segment disclosures:
Equity in earnings of affiliates, net of tax$47 $3,364 
Depreciation and amortization(6)
$50,129 $57,144 
(1)
Intersegment sales are recorded at a market-related transfer price.
(2)
Sales from businesses below the quantitative threshold are attributable to the group of businesses within All Other.
(3)
The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(4)
Cost of sales of reportable segments excludes certain costs, primarily changes in LIFO inventory reserves, net gains or losses from derivatives, and acquisition, integration and divestiture-related costs.
(5)
Other segment items consists of:
Consumer Packaging: Labor and benefits, consulting and professional services, travel, communication, facilities and supplies.
Industrial Paper Packaging: Labor and benefits, consulting and professional services, travel, communication, facilities and supplies.
(6)
Represents significant segment expenses that are regularly provided to the CODM and are included in cost of sales and other segment items within segment operating profit.
The following table sets forth the reconciliation of segment operating profit to “Income from continuing operations before income taxes” for the periods presented.
Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Segment operating profit$241,584 $140,714 $453,479 $265,125 
Other operating profits(1)
13,109 13,865 25,035 30,990 
Unallocated amounts:
Restructuring/Asset impairment charges(9,752)(17,963)(23,333)(48,973)
Amortization of acquisition intangibles(44,193)(17,479)(86,154)(35,373)
(Loss)/Gain from divestiture of business(2,083)4,478 (6,266)4,478 
Acquisition, integration and divestiture-related costs(11,161)(22,092)(38,427)(27,596)
Changes in LIFO inventory reserves(1,193)1,418 (1,755)987 
Derivative (losses)/gains(2,154)3,485 795 3,771 
Other corporate costs(2)
(7,755)(12,634)(18,853)(23,722)
Other operating (charges)/income, net(3)
(735)2,019 (1,994)(1,304)
Other (expenses)/income, net(4)
(6,559)5,867 (13,076)5,867 
Non-operating pension costs(2,982)(4,170)(6,103)(7,465)
Interest expense(64,367)(28,674)(120,394)(58,838)
Interest income4,122 3,059 11,470 6,192 
Income from continuing operations before income taxes$105,881 $71,893 $174,424 $114,139 
(1)
Operating profit from segments below the quantitative threshold are attributable to the group of businesses within All Other.
(2)
Other corporate costs represent recurring operating expenses previously allocated to TFP that will remain with Sonoco subsequent to the divestiture.
(3)
Primarily consists of highly inflationary accounting in Turkey and other miscellaneous charges in both 2025 and 2024.
(4)
In 2025, these expenses relate to charges from third-party financial institutions related to the Company’s centralized treasury program under which the Company sells certain trade accounts receivables in order to accelerate its cash collection cycle, primarily within the Consumer Packaging segment. In 2024, the income related primarily to the fair value remeasurement of an equity investment.
The following table sets forth the reconciliation of other segment disclosures to consolidated totals for the periods presented.
Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Equity in earnings of affiliates, net of tax
Consumer Packaging$170 $35 $119 $47 
Industrial Paper Packaging2,100 2,239 4,072 3,364 
Reportable Segment Total2,270 2,274 4,191 3,411 
Adjustments— — — — 
Consolidated Total$2,270 $2,274 $4,191 $3,411 
Depreciation and amortization
Consumer Packaging$52,801 $25,232 $101,756 $50,129 
Industrial Paper Packaging29,838 28,641 58,171 57,144 
Reportable Segment Total82,639 53,873 159,927 107,273 
Other(1)
46,836 20,196 91,351 41,742 
Consolidated Total$129,475 $74,069 $251,278 $149,015 
(1)
Other represents depreciation and amortization expense for the All Other group of businesses and total amortization of acquisition intangibles for Sonoco, excluding discontinued operations.