v3.25.2
Stockholders' Equity
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Stockholders' Equity

15. Stockholders' Equity

Dividends

During the six months ended June 30, 2025, we paid $224.7 million of dividends to shareholders. On May 7, 2025, PCA’s Board of Directors declared a regular quarterly cash dividend of $1.25 per share of common stock, which was paid on July 15, 2025 to shareholders of record as of June 13, 2025. The dividend payment was $112.5 million.

Repurchases of Common Stock

On January 26, 2022, PCA announced that its Board of Directors authorized the repurchase of an additional $1 billion of the Company’s outstanding common stock. Repurchases may be made from time to time in open market or privately negotiated transactions in accordance with applicable securities regulations. The timing and amount of repurchases will be determined by the Company in its discretion based on factors such as PCA’s stock price and market and business conditions.

The Company did not repurchase any shares of its common stock under this authority during the three months ended June 30, 2025. At June 30, 2025, $436.0 million of the authorized amount remained available for repurchase of the Company’s common stock.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) (AOCI) by component were as follows (dollars in millions). Amounts in parentheses indicate losses:

 

 

 

Unrealized
Loss On
Foreign Exchange Contracts

 

 

Unrealized Loss
on Marketable
Debt Securities

 

 

Unfunded
Employee
Benefit
Obligations

 

 

Total

 

Balance at January 1, 2025

 

$

(0.1

)

 

$

0.2

 

 

$

(43.5

)

 

$

(43.4

)

Other comprehensive loss before reclassifications, net of tax

 

 

—

 

 

 

0.1

 

 

 

—

 

 

 

0.1

 

Amounts reclassified from AOCI, net of tax

 

 

—

 

 

 

—

 

 

 

1.9

 

 

 

1.9

 

Balance at June 30, 2025

 

$

(0.1

)

 

$

0.3

 

 

$

(41.6

)

 

$

(41.4

)

 

Reclassifications out of AOCI were as follows (dollars in millions). Amounts in parentheses indicate expenses in the Consolidated Statements of Income:

 

 

 

Amounts Reclassified from AOCI

 

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

Details about AOCI Components

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

Unfunded employee benefit obligations (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of prior service costs

 

$

(1.3

)

 

$

(1.3

)

 

$

(2.7

)

 

$

(2.6

)

 

See (a) below

Amortization of actuarial gains (losses)

 

 

0.1

 

 

 

(0.1

)

 

 

0.2

 

 

 

(0.2

)

 

See (a) below

 

 

(1.2

)

 

 

(1.4

)

 

 

(2.5

)

 

 

(2.8

)

 

Total before tax

 

 

0.3

 

 

 

0.3

 

 

 

0.6

 

 

 

0.7

 

 

Tax benefit

 

$

(0.9

)

 

$

(1.1

)

 

$

(1.9

)

 

$

(2.1

)

 

Net of tax

 

(a)
These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 13, Employee Benefit Plans and Other Postretirement Benefits, for additional information.