PACKAGING CORP OF AMERICA PKG Income Statement

Packaging corp of america (PKG)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Net sales
1,708,700	1,720,000	1,750,700	1,759,900	1,733,700	1,746,600	1,809,900	1,767,500	1,690,600	1,684,300	1,640,100	1,584,000	1,536,500	1,476,600	1,484,000	1,417,400	1,401,000	1,390,900	1,470,800	1,454,300	1,425,700	1,434,000	1,518,900	1,468,400	1,431,300	1,264,423	845,440	800,230	755,207	736,602	723,473	712,468	671,357	654,306	670,824	665,481	629,500	626,651	642,764	615,459	550,732	553,573	549,381
Cost of sales
1,343,700	1,336,700	1,339,300	1,332,000	1,312,300	1,321,200	1,366,700	1,346,900	1,334,500	1,313,000	1,243,100	1,219,700	1,198,300	1,149,100	1,154,500	1,097,300	1,102,000	1,105,900	1,142,500	1,136,600	1,148,700	1,137,000	1,198,600	1,157,600	1,129,900	1,005,018	617,841	604,980	569,961	567,581	560,921	554,360	526,338	518,800	533,077	528,580	496,359	479,367	476,312	483,794	463,933	443,041	430,882
Gross profit
365,000	383,300	411,400	427,900	421,400	425,400	443,200	420,600	356,100	371,300	397,000	364,300	338,200	327,500	329,500	320,100	299,000	285,000	328,300	317,700	277,000	297,000	320,300	310,800	301,400	259,405	227,599	195,250	185,246	169,021	162,552	158,108	145,019	135,506	137,747	136,901	133,141	147,284	166,452	131,665	86,799	110,532	118,499
Selling, general and administrative expenses
145,900	137,000	136,900	143,700	140,000	129,600	134,200	137,700	134,900	132,900	129,600	129,600	127,800	122,500	116,900	114,800	114,300	105,400	112,700	115,900	117,300	110,500	119,600	122,900	116,500	99,994	77,096	74,225	75,285	124,461	51,529	52,868	51,942	113,493	48,914	48,192	47,952	46,340	47,219	44,653	44,277	44,258	42,759
Alternative energy tax credits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	95,500	-	-	-	-	16,369	-111,869	18,470	-9,235	-47,137	-79,695
Corporate overhead
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,990	17,736	16,888	-	16,424	16,352	15,553	14,557	15,527	15,386	12,630	13,188	15,453
Other expense, net
10,000	11,200	11,700	3,800	6,000	9,100	10,500	13,300	8,300	-14,000	24,800	600	7,000	9,100	6,200	5,100	3,900	8,900	-3,800	4,200	-2,600	-13,300	-12,300	-7,700	-24,000	-36,490	-7,721	-10,828	-3,961	-3,614	-1,961	-3,646	-2,579	-8,729	-1,229	-4,498	3,733	-33,534	4,179	3,880	5,511	3,892	4,265
Income from operations
209,100	235,100	262,800	280,400	275,400	286,700	298,500	269,600	212,900	252,400	242,600	234,100	203,400	195,900	206,400	200,200	180,800	175,900	219,400	197,600	157,100	173,200	188,400	180,200	160,900	122,921	142,782	110,197	106,000	92,560	92,072	83,858	169,110	69,079	71,180	67,859	65,903	96,362	-12,342	67,746	33,616	96,331	135,717
Non-operating pension income (expense)
-600	2,000	1,900	2,000	2,000	600	500	500	500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense, net
-19,600	-60,700	-21,600	-22,400	-24,100	-21,600	-23,900	-23,800	-25,800	-27,100	-25,700	-25,500	-24,300	-27,300	-23,400	-22,500	-21,600	-22,400	-21,700	-22,200	-19,200	-23,100	-23,100	-21,400	-20,800	-27,967	-11,850	-9,232	-9,251	-55,249	-30,590	13,256	9,683	-49,196	6,727	6,321	6,903	7,559	7,903	8,093	8,723	8,961	8,830
Income before taxes
190,100	172,400	239,300	256,000	249,300	264,500	274,100	245,300	186,600	224,000	216,900	208,600	179,100	168,600	183,000	177,700	159,200	153,500	197,700	175,400	137,900	150,100	165,300	158,800	140,100	94,954	130,932	100,965	96,749	83,189	61,482	70,602	159,427	59,785	64,453	61,538	59,000	88,803	-20,245	59,653	24,893	87,370	126,887
Provision for income taxes
48,400	36,200	59,500	62,400	62,500	59,900	67,400	58,700	46,500	-44,900	77,800	65,400	61,700	57,900	63,700	61,800	55,500	49,300	69,900	61,400	47,100	51,600	60,900	59,200	50,000	-133,118	46,250	34,713	34,455	25,778	21,691	25,448	141,583	19,542	22,676	22,170	21,583	33,912	-113,565	21,623	5,699	14,715	18,006
Net income
-	-	-	-	-	-	-	-	-	-	-	143,200	117,400	-	-	-	-	-	127,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less net income attributable to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
141,700	136,200	179,800	193,600	186,800	204,600	206,700	186,600	140,100	-	139,100	-	-	110,700	119,300	115,900	103,700	-	127,800	114,000	90,800	98,500	104,400	99,600	90,100	228,072	84,682	66,252	62,294	57,411	39,791	45,154	17,844	40,243	41,777	39,368	37,417	54,891	93,320	38,030	19,194	72,655	108,881
Weighted average common shares outstanding
Basic
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	96,360	96,266	96,598	97,269	99,020	100,094	100,741	100,973	101,776	102,035	101,928	101,713	101,469
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97,349	97,411	97,729	98,437	100,030	101,128	101,909	101,983	102,687	102,886	102,876	102,536	102,164
Net income per common share:
Basic
1.50	1.43	1.90	2.05	1.98	2.17	2.19	1.98	1.48	2.85	1.47	1.52	1.25	1.17	1.27	1.23	1.09	1.08	1.31	1.16	0.92	1.00	1.06	1.01	0.92	2.35	0.88	0.69	0.65	0.60	0.41	0.47	0.18	0.42	0.42	0.39	0.37	0.54	0.92	0.37	0.19	0.71	1.07
Diluted
1.49	1.44	1.89	2.04	1.97	2.17	2.18	1.97	1.48	2.84	1.47	1.52	1.24	1.17	1.26	1.23	1.09	1.08	1.31	1.16	0.92	1.00	1.06	1.01	0.92	2.33	0.87	0.68	0.64	0.59	0.41	0.46	0.18	0.40	0.42	0.39	0.37	0.53	0.91	0.37	0.19	0.71	1.07
Dividends declared per common share
0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.55	0.55	0.55	0.55	0.55	0.55	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.31	0.25	0.25	0.25	0.25	0.20	0.20	0.20	0.20	0.15	0.15	0.15	0.15	0.15	0.15
Statements of Comprehensive Income:
Net income
141,700	136,200	179,800	193,600	186,800	204,600	206,700	186,600	140,100	268,900	139,100	143,200	117,400	110,700	119,300	115,900	103,700	104,200	127,800	114,000	90,800	98,500	104,400	99,600	90,100	228,072	84,682	66,252	62,294	57,411	39,791	45,154	17,844	40,243	41,777	39,368	37,417	54,891	93,320	38,030	19,194	72,655	108,881
Foreign currency translation adjustment
-	-	-	-	-	0	0	0	-100	0	100	-100	-200	-	0	0	0	-100	0	4,200	-1,400	-900	-1,600	-100	0	-100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.0 million and $0.3 million
-	-7,200	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-1,000	-900	-900	-800	-900	-900	-900	-800	-900	-900	-900	-900	-800	-900	-900	-900	-800	-891	-870	-870	-869	-269	605	-1,859	-277	1,407	-283	-281	282	-	-	-	-	-	-
Changes in unrealized losses on marketable debt securities, net of tax of $0.1 million and $0.0 million
-200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments to cash flow hedges, net of tax of $6.5 million for 2012
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17	0	-17,701	7,518	-4,388	-25,468	39	5,683	-	-	-	-	-	-
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $0.9 million and $0.8 million
2,700	2,600	2,400	2,300	2,300	2,800	3,000	3,000	3,000	2,000	1,900	2,100	2,200	1,700	1,800	1,600	1,600	2,300	2,100	2,200	2,200	1,000	1,100	1,100	1,000	1,479	3,387	6,645	1,889	1,684	1,672	1,672	1,672	-6,659	951	951	951	-	-	-	-	-	-
Changes in unfunded employee benefit obligations, net of tax of $13.6 million, ($0.8) million, and $18.0 million for 2019, 2018, and 2017, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,100	-	-	0	0	-	-	-	-	-	-	4,963	8,455	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income
2,500	-30,700	3,400	3,300	3,300	6,200	4,000	4,000	3,900	-25,900	2,900	2,800	2,900	-25,400	2,700	5,500	2,500	17,100	3,000	7,300	1,600	-93,000	400	1,900	1,800	21,052	9,220	15,970	2,758	-12,010	1,067	-14,170	8,913	-35,658	-24,800	709	6,352	-	-	-	-	-	-
Less net income attributable to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income
144,200	105,500	183,200	196,900	190,100	210,800	210,700	190,600	144,000	243,000	142,000	146,000	120,300	85,300	122,000	121,400	106,200	121,300	130,800	121,300	92,400	5,500	104,800	101,500	91,900	249,124	93,902	82,222	65,052	45,401	40,858	30,984	26,757	4,585	16,977	40,077	43,769	-	-	-	-	-	-