PACKAGING CORP OF AMERICA PKG Income Statement

Packaging corp of america (PKG)

Income statement / TTM

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
6,939	6,964	6,990	7,050	7,057	7,014	6,952	6,782	6,599	6,444	6,237	6,081	5,914	5,779	5,693	5,680	5,717	5,741	5,784	5,832	5,847	5,852	5,683	5,009	4,341	3,665	3,137	3,015	2,927	2,843	2,761	2,708	2,661	2,620	2,592	2,564	2,514	2,435	2,362	2,269	0	0	0
Cost of sales
5,351	5,320	5,304	5,332	5,347	5,369	5,361	5,237	5,110	4,974	4,810	4,721	4,599	4,502	4,459	4,447	4,487	4,533	4,564	4,620	4,641	4,623	4,491	3,910	3,357	2,797	2,360	2,303	2,252	2,209	2,160	2,132	2,106	2,076	2,037	1,980	1,935	1,903	1,867	1,821	0	0	0
Gross profit
1,587	1,644	1,686	1,717	1,710	1,645	1,591	1,545	1,488	1,470	1,427	1,359	1,315	1,276	1,233	1,232	1,230	1,208	1,220	1,212	1,205	1,229	1,191	1,099	983	867	777	712	674	634	601	576	555	543	555	583	578	532	495	447	0	0	0
Selling, general and administrative expenses
563	557	550	547	541	536	539	535	527	519	509	496	482	468	451	447	448	451	456	463	470	469	458	416	367	326	351	325	304	280	269	267	262	258	191	189	186	182	180	175	0	0	0
Alternative energy tax credits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	95	0	0	0	-	-	-	-	-86	-149	-117	0	0	0
Corporate overhead
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	62	61	61	58	56	56	0	0	0
Other expense, net
36	32	30	29	38	41	18	32	19	18	41	22	27	24	24	14	13	6	-15	-24	-35	-57	-80	-75	-79	-59	-26	-20	-13	-11	-16	-16	-17	-10	-35	-30	-21	-19	17	17	0	0	0
Income from operations
987	1,053	1,105	1,141	1,130	1,067	1,033	977	942	932	876	839	805	783	763	776	773	750	747	716	698	702	652	606	536	481	451	400	374	437	414	393	377	274	301	217	217	185	185	333	0	0	0
Non-operating pension income (expense)
5	7	6	5	3	2	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense, net
-124	-128	-89	-92	-93	-95	-100	-102	-104	-102	-102	-100	-97	-94	-89	-88	-87	-85	-86	-87	-86	-88	-93	-82	-69	-58	-85	-104	-81	-62	-56	-19	-26	-29	27	28	30	32	33	34	0	0	0
Income before taxes
857	917	1,009	1,043	1,033	970	930	872	836	828	773	739	708	688	673	688	685	664	661	628	612	614	559	524	466	423	411	342	312	374	351	354	345	244	273	189	187	153	151	298	0	0	0
Provision for income taxes
206	220	244	252	248	232	127	138	144	160	262	248	245	238	230	236	236	227	230	221	218	221	36	22	-2	-17	141	116	107	214	208	209	205	85	100	-35	-36	-52	-71	60	0	0	0
Net income
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less net income attributable to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
651	696	764	791	784	738	672	0	0	-	0	-	-	449	443	451	449	-	431	407	393	392	522	502	469	441	270	225	204	160	143	145	139	158	173	224	223	205	223	238	0	0	0
Weighted average common shares outstanding
Basic
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	96	96	96	97	99	100	100	100	101	102	101	101	101
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	97	97	97	98	100	101	101	101	102	102	102	102	102
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
651	696	764	791	784	738	802	734	691	668	510	490	463	449	443	451	449	436	431	407	393	392	522	502	469	441	270	225	204	160	143	145	139	158	173	224	223	205	223	238	0	0	0
Foreign currency translation adjustment
-	-	-	-	-	-0	-0	0	-0	-0	-0	-0	-0	-	-0	-0	4	2	1	0	-4	-2	-1	-0	-0	-0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reclassification adjustments to cash flow hedges included in net income, net of tax of $0.0 million and $0.3 million
-	-10	-4	-4	-4	-4	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-3	-2	-1	-2	-1	-0	-1	0	1	0	0	0	-	-	-	-	-	-
Changes in unrealized losses on marketable debt securities, net of tax of $0.1 million and $0.0 million
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair value adjustments to cash flow hedges, net of tax of $6.5 million for 2012
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-10	-14	-40	-22	-24	0	0	0	-	-	-	-	-	-
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of $0.9 million and $0.8 million
10	9	9	10	11	11	11	9	9	8	7	7	7	6	7	7	8	8	7	6	5	4	4	6	12	13	13	11	6	6	-1	-2	-3	-3	0	0	0	-	-	-	-	-	-
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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	0	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income
-21	-20	16	16	17	18	-14	-15	-16	-17	-16	-17	-14	-14	27	28	29	29	-81	-83	-89	-88	25	33	48	49	15	7	-22	-16	-39	-65	-50	-53	0	0	0	-	-	-	-	-	-
Less net income attributable to noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income
629	675	781	808	802	756	788	719	675	651	493	473	449	434	470	479	479	465	350	324	304	303	547	536	517	490	286	233	182	144	103	79	88	105	0	0	0	-	-	-	-	-	-