Accounting Policies, by Policy (Policies) |
9 Months Ended |
|---|---|
Jun. 27, 2026 | |
| Accounting Policies [Abstract] | |
| Business Combination | On November 4, 2024 (the
“Closing Date”), Treasure Holdco, Inc., a wholly owned subsidiary of
Berry Global Group, Inc. (“Berry”), completed its merger (the “merger”) with
the Glatfelter Corporation which concurrently changed its name to Magnera
Corporation ("Magnera" or the "Company").
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| Basis of Presentation | The Condensed Consolidated and Combined
Financial Statements contain combined financial statements for the fiscal
periods prior to the Closing Date of the merger and were prepared on a
stand-alone basis. The pre-merger Combined Financial Statements of Operations,
Comprehensive Income (Loss), Cash Flows and Changes in Equity have been
prepared on a carve-out basis, which include assumptions underlying the
preparation that management believes are reasonable. However, the combined
pre-merger financial information included herein may not necessarily reflect
the Company’s results of operations, comprehensive income (loss), cash flows
and changes in equity had the Company been an independent stand-alone company
during the periods presented.
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| Consolidated and Combined Financial Statements | The accompanying unaudited Condensed Consolidated and Combined Financial Statements of Magnera have been
prepared in accordance with accounting principles generally accepted in the
United States (“GAAP”) pursuant to the rules and regulations of the Securities
and Exchange Commission (the "SEC") for interim reporting. In
preparing financial statements in conformity with GAAP, we must make estimates
and assumptions that affect the reported amounts and disclosures at the date of
the financial statements and during the reporting period. Actual results could
differ from those estimates. In the opinion of management, all adjustments
(consisting of normal recurring adjustments) considered necessary for a fair
presentation have been included, and all subsequent events up to the time of
the filing have been evaluated. For further information, refer to the Company’s
Form 10-K filed with the SEC on November 25, 2025.
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| Recently Issued Accounting Pronouncements | Recently Issued
Accounting Pronouncements In 2023, the Financial Accounting Standards Board ("FASB") issued
guidance with the goal of providing more information in the income tax
reconciliation table and regarding income taxes paid. This Accounting Standard
Update ("ASU") is effective for fiscal years beginning after December
15, 2024, may be applied prospectively or retrospectively, and allows for early
adoption. The Company is currently evaluating the impact of adopting this
guidance, which will be effective for the fiscal year ending September 26, 2026. In 2024, the FASB issued
guidance with the goal of providing more expense information for certain
categories of expenses that are included in line items on the face of the
statements of operations. This ASU is effective for fiscal years beginning
after December 15, 2026 and for interim periods beginning after December 15,
2027, may be adopted on a prospective or retrospective basis, and allows for
early adoption. The Company is currently evaluating the impact of adopting this
guidance.
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| Revenue Recognition | Revenue is recognized when performance obligations are satisfied, in an amount reflecting the consideration to which the Company expects to be entitled. We consider the promise to transfer products to be our sole performance obligation. Generally, our revenue is recognized for standard promised goods at the time of shipment, when title and risk of loss pass to the customer. The Company disaggregates revenue based on reportable business segment, geography, and significant product line. |
| Accounts Receivable | The Company records current expected credit losses based on a variety of factors including historical loss experience and current customer financial condition. The reserve as of each
period end and changes to our current expected credit losses, write-off
activity, and recoveries were not material for any of the periods presented.
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| Customer Supply Chain Financing Programs | The Company participates in
customer supply chain financing programs to collect certain receivables through
third-party financial institutions. These arrangements qualify as true sales,
as the receivables are transferred without recourse. As a result, the balances
are removed from trade receivables on the balance sheet, and the cash proceeds
are reported as operating cash flows.
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