Goodwill and Identifiable Intangible Assets, net (Tables)

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill Balances by Segment Reporting Structure

The following table shows our goodwill balances by reportable segment:


(In millions)	Food		Protective		Total
Gross Carrying Value at December 31, 2024	$	1,277.9	$	1,790.2	$	3,068.1
Accumulated amortization(1)	(48.9)		(140.7)		(189.6)
Carrying Value at December 31, 2024	$	1,229.0	$	1,649.5	$	2,878.5

Currency translation	10.1		13.9		24.0

Carrying Value at June 30, 2025	$	1,239.1	$	1,663.4	$	2,902.5

(1)There was no change to our accumulated amortization balance during the six months ended June 30, 2025.

Schedule of Identifiable Intangible Assets with Indefinite Useful Lives

The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of June 30, 2025, there were no impairment indicators present.


	June 30, 2025				December 31, 2024
(In millions)	Gross Carrying Value		Accumulated Amortization		Net		Gross Carrying Value		Accumulated Amortization		Net
Customer relationships	$	288.5	$	(103.6)	$	184.9	$	284.0	$	(89.9)	$	194.1
Trademarks and tradenames	56.9		(26.5)		30.4		56.5		(23.9)		32.6
Software	159.9		(139.6)		20.3		156.3		(131.5)		24.8
Technology	198.4		(85.8)		112.6		196.2		(75.9)		120.3
Contracts	11.5		(10.8)		0.7		11.4		(10.5)		0.9
Total intangible assets with definite lives	715.2		(366.3)		348.9		704.4		(331.7)		372.7
Trademarks and tradenames with indefinite lives	8.9		—		8.9		8.9		—		8.9
Total identifiable intangible assets, net	$	724.1	$	(366.3)	$	357.8	$	713.3	$	(331.7)	$	381.6

Schedule of Identifiable Intangible Assets with Definite Useful Lives

The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of June 30, 2025, there were no impairment indicators present.


	June 30, 2025				December 31, 2024
(In millions)	Gross Carrying Value		Accumulated Amortization		Net		Gross Carrying Value		Accumulated Amortization		Net
Customer relationships	$	288.5	$	(103.6)	$	184.9	$	284.0	$	(89.9)	$	194.1
Trademarks and tradenames	56.9		(26.5)		30.4		56.5		(23.9)		32.6
Software	159.9		(139.6)		20.3		156.3		(131.5)		24.8
Technology	198.4		(85.8)		112.6		196.2		(75.9)		120.3
Contracts	11.5		(10.8)		0.7		11.4		(10.5)		0.9
Total intangible assets with definite lives	715.2		(366.3)		348.9		704.4		(331.7)		372.7
Trademarks and tradenames with indefinite lives	8.9		—		8.9		8.9		—		8.9
Total identifiable intangible assets, net	$	724.1	$	(366.3)	$	357.8	$	713.3	$	(331.7)	$	381.6

Schedule of Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at June 30, 2025.


Year	Amount (In millions)
Remainder of 2025	$	29.2
2026	48.2
2027	43.1
2028	40.5
2029	38.1
Thereafter	149.8
Total	$	348.9

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

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