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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2013	Jul. 31, 2013
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2
Trading Symbol	SEE
Entity Registrant Name	SEALED AIR CORP/DE
Entity Central Index Key	0001012100
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		195,892,851

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 640.1	$ 679.6
Receivables, net of allowance for doubtful accounts of $29.4 in 2013 and $25.9 in 2012	1,373.4	1,326.0
Inventories	819.4	736.4
Deferred tax assets	384.4	393.0
Prepaid expenses and other current assets	114.9	87.4
Total current assets	3,332.2	3,222.4
Property and equipment, net	1,140.1	1,212.8
Goodwill	3,133.6	3,191.4
Intangible assets, net	1,059.8	1,139.7
Non-current deferred tax assets	153.2	150.3
Other assets, net	400.5	415.1
Total assets	9,219.4	9,331.7
Current liabilities:
Short-term borrowings	76.3	39.2
Current portion of long-term debt	153.6	1.8
Accounts payable	557.5	483.8
Deferred tax liabilities	20.7	10.3
Settlement agreement and related accrued interest	901.0	876.9
Accrued restructuring costs	57.1	72.4
Other current liabilities	798.5	849.2
Total current liabilities	2,564.7	2,333.6
Long-term debt, less current portion	4,351.7	4,540.8
Non-current deferred tax liabilities	309.6	367.0
Other liabilities	620.1	646.0
Total liabilities	7,846.1	7,887.4
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2013 and 2012
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 205,324,264 in 2013 and 204,660,621 in 2012; shares outstanding; 195,847,923 in 2013 and 194,557,669 in 2012	20.7	20.6
Common stock reserved for issuance related to Settlement agreement, $0.10 par value per share, 18,000,000 shares in 2013 and 2012	1.8	1.8
Additional paid-in capital	1,688.8	1,684.9
Retained earnings	262.4	254.8
Common stock in treasury, 9,476,341 shares in 2013 and 10,102,952 shares in 2012	(327.6)	(353.4)
Accumulated other comprehensive loss, net of taxes:
Unrecognized pension items	(136.3)	(142.3)
Cumulative translation adjustment	(141.2)	(24.1)
Unrealized gain on derivative instruments	4.8	1.5
Total accumulated other comprehensive loss, net of taxes	(272.7)	(164.9)
Total parent company stockholders' equity	1,373.4	1,443.8
Noncontrolling interests	(0.1)	0.5
Total stockholders' equity	1,373.3	1,444.3
Total liabilities and stockholders' equity	$ 9,219.4	$ 9,331.7

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Statement Of Financial Position [Abstract]
Receivables, net of allowance for doubtful accounts	$ 29.4	$ 25.9
Preferred stock, par value per share	$ 0.10	$ 0.10
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued
Common stock, par value per share	$ 0.10	$ 0.10
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	205,324,264	204,660,621
Common stock, shares outstanding	195,847,923	194,557,669
Common stock reserved for issuance related to Settlement agreement, par value per share	$ 0.10	$ 0.10
Common stock reserved for issuance related to Settlement agreement, shares	18,000,000	18,000,000
Common stock in treasury, shares	9,476,341	10,102,952

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Income Statement [Abstract]
Net sales	$ 1,961.5	$ 1,924.6	$ 3,814.3	$ 3,770.0
Cost of sales	1,296.4	1,296.3	2,531.2	2,520.6
Gross profit	665.1	628.3	1,283.1	1,249.4
Selling, general and administrative expenses	452.4	467.2	889.8	911.9
Amortization expense of intangible assets acquired	31.7	33.8	63.9	66.5
Stock appreciation rights expense (income)	0.1	(9.1)	18.1	2.7
Costs related to the acquisition and integration of Diversey	0.1	1.7	0.5	3.5
Restructuring and other charges	11.9	26.3	11.7	73.3
Operating profit	168.9	108.4	299.1	191.5
Interest expense	(89.7)	(97.3)	(180.5)	(194.6)
Impairment of equity method investment		(23.5)		(23.5)
Foreign currency exchange losses related to Venezuelan subsidiaries	(0.5)	(0.1)	(13.6)	(0.2)
Loss on debt redemption	(0.1)		(32.4)
Other expense, net	(3.4)	(5.7)	(3.2)	(9.6)
Earnings (loss) from continuing operations before income tax provision (benefit)	75.2	(18.2)	69.4	(36.4)
Income tax provision (benefit)	18.9	2.5	10.4	(7.4)
Net earnings (loss) from continuing operations	56.3	(20.7)	59.0	(29.0)
Net earnings from discontinued operations		7.0		9.4
Net earnings (loss) available to common stockholders	$ 56.3	$ (13.7)	$ 59.0	$ (19.6)
Basic
Continuing operations	$ 0.29	$ (0.11)	$ 0.30	$ (0.15)
Discontinued operations		0.04		0.05
Net earnings (loss) per common share-basic	0.29	(0.07)	0.30	(0.10)
Diluted
Continuing operations	0.26	(0.11)	0.28	(0.15)
Discontinued operations		0.04		0.05
Net earnings (loss) per common share-diluted	0.26	(0.07)	0.28	(0.10)
Dividends per common share	$ 0.13	$ 0.13	$ 0.26	$ 0.26
Weighted average number of common shares outstanding:
Basic	194.8	193.0	194.3	192.4
Diluted	213.6	193.0	213.2	192.4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Statement Of Income And Comprehensive Income [Abstract]
Net earnings (loss) available to common stockholders	$ 56.3	$ (13.7)	$ 59.0	$ (19.6)
Other comprehensive loss, net of taxes:
Recognition of deferred pension items, net of taxes of $0.2 for the three months ended June 30, 2013, $0.6 for the three months ended June 30, 2012, $1.7 for the six months ended June 30, 2013 and $2.1 for the six months ended June 30, 2012	0.9	2.9	6.0	3.1
Unrealized gains (losses) on derivative instruments, net of taxes of $1.0 for the three months ended June 30, 2013, $1.3 for the six months ended June 30, 2013 and $0.1 for the six months ended June 30, 2012	3.2		3.3	(0.2)
Foreign currency translation adjustments	(95.2)	(149.5)	(117.1)	(41.7)
Comprehensive loss, net of taxes	$ (34.8)	$ (160.3)	$ (48.8)	$ (58.4)

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

Net of tax amount of the income statement impact of the reclassification adjustment for prior service costs recognized as a component of net period benefit cost.

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- Definition

Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).

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+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Statement Of Income And Comprehensive Income [Abstract]
Recognition of deferred pension items, net of taxes	$ 0.2	$ 0.6	$ 1.7	$ 2.1
Unrealized gains (losses) on derivative instruments, net of taxes	$ 1.0		$ 1.3	$ 0.1

- Definition

Tax effect of the income statement impact of the reclassification adjustment for prior service costs recognized as a component of net period benefit cost.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Statement Of Cash Flows [Abstract]
Net earnings (loss) available to common stockholders from continuing operations	$ 59.0	$ (29.0)
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities from continuing operations:
Depreciation and amortization	148.2	155.2
Share-based incentive compensation	14.9	10.5
Profit sharing expense	19.9	9.6
Costs related to the acquisition and integration of Diversey	0.5	3.5
Amortization of senior debt related items and other	9.8	11.0
Loss on debt redemption	32.4
Impairment of equity method investment		25.8
Provisions for bad debt	6.5	3.2
Provisions for inventory obsolescence	4.0	8.2
Deferred taxes, net	(42.4)	(31.6)
Excess tax benefit from share-based incentive compensation		(0.9)
Net gain on disposals of property and equipment and other	(0.7)	(0.3)
Changes in operating assets and liabilities:
Trade receivables, net	(76.6)	(31.4)
Inventories	(114.7)	(97.5)
Other assets	(62.9)	(56.7)
Accounts payable	88.6	9.9
Other liabilities	(24.1)	(51.2)
Net cash provided by (used in) operating activities from continuing operations	62.4	(61.7)
Cash flows from investing activities from continuing operations:
Capital expenditures for property and equipment	(51.2)	(66.4)
Proceeds from sales of property and equipment	7.2	0.6
Other investing activities	0.3	(1.7)
Net cash used in investing activities from continuing operations	(43.7)	(67.5)
Cash flows from financing activities from continuing operations:
Net proceeds from short-term borrowings	41.7	17.1
Payments of long-term debt	(455.6)	(58.8)
Proceeds from long-term debt	425.0
Dividends paid on common stock	(50.9)	(50.4)
Acquisition of common stock for tax withholding obligations under our 2005 contingent stock plan	(3.9)	(9.3)
Payments of debt issuance costs	(7.7)
Payments for debt extinguishment costs	(26.2)
Excess tax benefit from share-based incentive compensation		0.9
Net cash used in financing activities from continuing operations	(77.6)	(100.5)
Effect of foreign currency exchange rate changes on cash and cash equivalents	19.4	12.6
Net change in cash and cash equivalents from continuing operations	(39.5)	(217.1)
Net cash provided by operating activities from discontinued operations		9.2
Net cash used in investing activities from discontinued operations		(1.4)
Net cash used in financing activities from discontinued operations		(3.1)
Net change in cash and cash equivalents from discontinued operations		4.7
Cash and cash equivalents:
Balance, beginning of period	679.6	703.6
Net change during the period	(39.5)	(212.4)
Balance, end of period	640.1	491.2
Supplemental Cash Flow Information:
Interest payments, net of amounts capitalized	141.6	155.7
Income tax payments	57.7	61.7
Restructuring payments	34.7	40.3
Stock appreciation rights payments	27.8	22.4
Non-cash items:
Transfers of shares of our common stock from treasury as part of our 2012 and 2011 profit-sharing plan contributions	$ 18.7	$ 18.6

Organization and Basis of Presentation	6 Months Ended
Organization and Basis of Presentation	Jun. 30, 2013
Accounting Policies [Abstract]
Organization and Basis of Presentation	(1) Organization and Basis of Presentation *Organization* We are a global leader in food safety and security, facility hygiene and product protection. We serve an array of end markets including food and beverage processing, food service, retail, health care and industrial, commercial and consumer applications. We have widely recognized and inventive brands such as Bubble Wrap^® brand cushioning, Cryovac^® brand food packaging solutions and Diversey^® brand cleaning and hygiene solutions. We conduct substantially all of our business through three wholly-owned subsidiaries, Cryovac, Inc., Sealed Air Corporation (US) and Diversey, Inc. Throughout this report, when we refer to “Sealed Air,” the “Company,” “we,” “our,” or “us,” we are referring to Sealed Air Corporation and all of our subsidiaries, except where the context indicates otherwise. During the fourth quarter of 2012, we began operating under new business divisions for our segment reporting structure. The new segment reporting structure consists of three global business divisions: Food & Beverage, Institutional & Laundry and Protective Packaging, and an “Other” category. See Note 4, “Segments,” for further details of our segment structure. *Basis of Presentation* Our condensed consolidated financial statements include all of the accounts of the Company and our subsidiaries. We have eliminated all significant intercompany transactions and balances in consolidation. In management’s opinion, all adjustments, consisting only of normal recurring accruals, necessary for a fair presentation of our condensed consolidated balance sheet as of June 30, 2013 and our condensed consolidated statements of operations for the three and six months ended June 30, 2013 and 2012 have been made. The results set forth in our condensed consolidated statements of operations for the three and six months ended June 30, 2013 and in our condensed consolidated statements of cash flows for the six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the full year. All amounts are in millions, except per share amounts, and approximate due to rounding. Some prior period amounts have been reclassified to conform to the current year presentation. These reclassifications, individually and in the aggregate, had no impact on our consolidated financial condition, results of operations and cash flows. During the first quarter of 2013, we identified a misclassification in our December 31, 2012 consolidated balance sheet included in our 2012 Annual Report on Form 10-K. This misclassification, which has been corrected on our December 31, 2012 condensed consolidated balance sheet included in this Form 10-Q, decreased our non-current deferred tax assets and non-current deferred tax liabilities by $105.5 million, decreasing our non-current deferred tax assets from $255.8 million to $150.3 million and decreasing our non-current deferred tax liabilities from $472.5 million to $367.0 million. This misclassification had no impact on our net deferred tax asset balance as of December 31, 2012 and it did not impact our consolidated statements of operations or cash flows. Accordingly, we do not consider this correction to be material to our consolidated financial condition or results of operations. Our condensed consolidated financial statements were prepared in accordance with the interim reporting requirements of the SEC. As permitted under those rules, annual footnotes or other financial information that are normally required by U.S. GAAP, have been condensed or omitted. The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates. We are responsible for the unaudited condensed consolidated financial statements and notes included in this report. As these are condensed financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in our 2012 Annual Report on Form 10-K and with the information contained in other publicly-available filings with the SEC. In November 2012, we completed the sale of Diversey G.K. (“Diversey Japan”) (an indirect subsidiary of Sealed Air). The operating results for Diversey Japan were reclassified to discontinued operations, net of tax, on the consolidated statements of operations for the three and six months ended June 30, 2012. Prior year disclosures in the condensed consolidated statement of cash flows and the notes to condensed consolidated financial statements have been revised accordingly. See Note 3, “Divestiture”.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2134480

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2209116

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2122150

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 810
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-URI http://asc.fasb.org/subtopic&trid=2197480

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=7880789&loc=SL6228881-111685

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-URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055

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-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/subtopic&trid=2122524

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=7668296&loc=d3e288-107754

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS140-4/FIN46(R)-8
-Paragraph 8, C1, C7
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Recently Issued Accounting Standards	6 Months Ended
Recently Issued Accounting Standards	Jun. 30, 2013
Accounting Changes And Error Corrections [Abstract]
Recently Issued Accounting Standards	(2) Recently Issued Accounting Standards Adopted in 2013 In October 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2012-04, Technical Corrections and Improvement, which makes certain technical corrections (i.e., relatively minor corrections and clarifications) and “conforming fair value amendments”. The amendments affect various codification topics and apply to all reporting entities within the scope of those topics. This standard becomes effective for us upon issuance, except for amendments that are subject to transition guidance, which was effective for fiscal periods beginning after December 15, 2012. The adoption of this standard did not have any material effect on our consolidated financial condition or results of operations. In July 2012, the FASB issued ASU No. 2012-02, Testing Indefinite-Lived Intangible Assets for Impairment. This standard update, which amends the guidance on testing indefinite-lived intangible assets, other than goodwill, for impairment, provides companies with the option to first perform a qualitative assessment before performing the two-step quantitative impairment test. If the company determines, on the basis of qualitative factors, that the fair value of the indefinite-lived intangible asset is more likely than not to exceed its carrying amount, then the company would not need to perform the two-step quantitative impairment test. This standard does not revise the requirement to test indefinite-lived intangible assets annually for impairment. This standard was effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption allowed. The adoption of this standard did not have any material effect on our consolidated financial condition or results of operations. In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, which creates new disclosure requirements about the nature of an entity’s rights of offset and related arrangements associated with its financial instruments and derivative instruments. The disclosure requirements are effective for annual reporting periods beginning on or after January 1, 2013, and interim periods therein, with retrospective application required. The new disclosures are designed to make financial statements that are prepared under U.S. GAAP more comparable to those prepared under International Financial Reporting Standards. The adoption of this standard did not have any material effect on our consolidated financial condition or results of operations. In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, a company is required to present either on the statement of operations or in the notes significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The disclosure requirements are effective for annual reporting periods beginning after December 15, 2012, prospectively. We have included footnote disclosures for the three months and six months ended June 30, 2013. See Note 11, “Derivatives and Hedging Activities and Note 15, “Stockholders’ Equity” for further details. The adoption of this standard did not have any material effect on our consolidated financial condition or results of operations as they are disclosure requirements only. Pending in 2013 In February 2013, the FASB issued ASU 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date. This standard update requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, as the sum of the following: (a) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (b) any additional amount the reporting entity expects to pay on behalf of its co-obligors. This standard becomes effective for fiscal years and interim periods within those years beginning after December 15, 2013. This standard update is required to be applied retrospectively to all prior periods presented for those obligations resulting from joint and several liability arrangements that existed at the beginning of the fiscal year of adoption. We are currently evaluating the impact of this standard update on our consolidated financial statements. In March 2013, the FASB issued ASU 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This standard update requires an entity to release any cumulative translation adjustment into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. This standard update becomes effective prospectively for fiscal years and interim periods within those years beginning after December 15, 2013. The impact of this standard update on our consolidated financial statements will be based on any future activity that qualifies within this guidance. In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss or a Tax Credit Carryforward Exists. This standard update provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This standard update becomes effective for fiscal years and interim periods within those years beginning after December 15, 2013. The amendment should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. We are currently evaluating the impact of this standard update on our consolidated financial statements. In July 2013, the FASB issued ASU 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. This standard update permits companies to use the Fed Funds Effective Swap Rate as a U.S. benchmark interest rate for hedge accounting purposes, in addition to the U.S. government (UST) and London Interbank Offered Rate. This amendment also removes the restriction on using different benchmark rates for similar hedges. This amendment is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. We are currently evaluating the impact of this standard update on our consolidated financial statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=6958853&loc=d3e46468-122699

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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

+ Details

Divestiture

6 Months Ended

Jun. 30, 2013

Text Block [Abstract]

Divestiture

(3) Divestiture

In November 2012, we completed the sale of Diversey Japan to an investment vehicle of The Carlyle Group (“Carlyle”) for gross proceeds of $323 million, including certain purchase price adjustments. After transaction costs of $10 million, we used substantially of all the net proceeds of $313 million to prepay a portion of our term loans outstanding under our senior secured credit facilities in 2012. We recorded a pre-tax gain on the sale of $211 million ($179 million, net of tax) which was included in discontinued operations in the consolidated statement of operations for the year ended December 31, 2012.

Diversey Japan was acquired as part of the acquisition of Diversey Holdings, Inc. and its subsidiaries, (“Diversey”) on October 3, 2011. In accordance with the applicable accounting guidance for the disposal of long-lived assets, the results of the Diversey Japan business are presented as discontinued operations, net of tax, in the condensed consolidated statements of operations and condensed consolidated statements of cash flows and all related disclosures and, as such, have been excluded from both continuing operations and segment results for the three and six months ended June 30, 2012 presented.

Summary operating results for this discontinued operation were as follows:


	Three Months Ended June 30, 2012		Six Months Ended June 30, 2012
Net sales	$	79.8	$	152.0

Operating profit	$	11.5	$	16.0

Earnings before income tax provision	$	11.5	$	15.4
Income tax provision		4.5		6.0

Net earnings from discontinued operations, net of tax	$	7.0	$	9.4

In connection with the sale, we entered into several agreements. While those agreements are expected to generate future revenues and cash flows for us, the estimated amounts and our continuing involvement in operations in Japan are not expected to be significant to our consolidated financial condition or results of operations.

Segments

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segments

(4) Segments

During the fourth quarter of 2012, we began to operate under three new business divisions for our segment reporting structure. This new structure replaced our legacy seven business unit structure. Our new segment reporting structure, which we also refer to as “divisions”, reflects the way management now makes operating decisions and manages the growth and profitability of the business. It also corresponds with management’s current approach of allocating resources and assessing the performance of our segments. We report our segment information in accordance with the provision of FASB ASU Topic 280, “Segment Reporting.” The changes to our segment structure have no effect on the historical consolidated results of operations of the Company. Prior period segment results have been revised to the new segment presentation.

The following table shows net sales, depreciation and amortization and operating profit by our segment reporting structure:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Net sales
Food & Beverage	$	946.5		$	922.6		$	1,849.0		$	1,817.7
Institutional & Laundry		569.8			560.5			1,082.7			1,070.7
Protective Packaging		394.3			390.8			780.9			782.1
Other Category		50.9			50.7			101.7			99.5

Total	$	1,961.5		$	1,924.6		$	3,814.3		$	3,770.0

Depreciation and amortization⁽¹⁾
Food & Beverage	$	32.3		$	36.5		$	66.0		$	77.9
Institutional & Laundry		32.5			32.4			66.3			63.1
Protective Packaging		10.2			9.5			20.4			19.2
Other Category		7.6			2.8			10.4			5.5

Total	$	82.6		$	81.2		$	163.1		$	165.7

Operating profit
Food & Beverage	$	103.7		$	69.8		$	196.5		$	152.1
Institutional & Laundry		37.2			20.9			28.7			20.2
Protective Packaging		44.0			46.7			90.7			97.6
Other Category		(4.0	)		(1.0	)		(4.6	)		(1.6	)

Total segments and other		180.9			136.4			311.3			268.3
Costs related to the acquisition and integration of Diversey		0.1			1.7			0.5			3.5
Restructuring and other charges⁽²⁾		11.9			26.3			11.7			73.3

Total	$	168.9		$	108.4		$	299.1		$	191.5

(1)

Includes depreciation and amortization of $75.4 million in the three months ended June 30, 2013, $75.3 million in the three months ended June 30, 2012, $148.2 million in the six months ended June 30, 2013 and $155.2 million in the six months ended June 30, 2012, and amortization of share-based incentive compensation expense of $7.2 million in the three months ended June 30, 2013, $5.9 million in the three months ended June 30, 2012, $14.9 million in the six months ended June 30, 2013 and $10.5 million in the six months ended June 30, 2012.

(2)	Restructuring and other charges by our segment reporting structure were as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Food & Beverage	$	4.9	$	20.0	$	2.7	$	55.7
Institutional & Laundry		5.7		2.7		4.9		7.6
Protective Packaging		1.2		3.4		4.0		9.6
Other Category		0.1		0.2		0.1		0.4

Total	$	11.9	$	26.3		11.7	$	73.3

The restructuring and other charges in 2013 primarily relate to our previously announced 2013 Earnings Quality Improvement Program (EQIP). See Note 9, “Restructuring Activities.”

Allocation of Goodwill to Reportable Segments

Our management views goodwill and identifiable intangible assets as a corporate asset, so we do not allocate their balances to the reportable segments. However, we are required to allocate their balances to each reporting unit to perform our annual impairment review of goodwill. See Note 7, “Goodwill and Identifiable Intangible Assets,” for the allocation of goodwill and the changes in goodwill in the six months ended June 30, 2013 by our reporting unit structure.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Inventories

6 Months Ended

Jun. 30, 2013

Inventory Disclosure [Abstract]

Inventories

(5) Inventories

The following table details our inventories and the reduction of certain inventories to a LIFO basis:


	June 30, 2013			December 31, 2012
Inventories (at FIFO, which approximates replacement value):
Raw materials	$	139.3		$	128.4
Work in process		132.3			117.0
Finished goods		597.4			542.4

Subtotal (at FIFO)		869.0			787.8
Reduction of certain inventories to LIFO basis		(49.6	)		(51.4	)

Total	$	819.4		$	736.4

We determine the value of some of our non-equipment U.S. inventories by the last-in, first-out, or LIFO, inventory method. U.S. inventories determined by the LIFO method were $137 million at June 30, 2013 and $104 million at December 31, 2012.

Property and Equipment, net

6 Months Ended

Jun. 30, 2013

Property Plant And Equipment [Abstract]

Property and Equipment, net

(6) Property and Equipment, net

The following table details our property and equipment, net:


	June 30,			December 31,
	2013			2012
Land and improvements	$	136.2		$	142.5
Buildings		724.7			715.4
Machinery and equipment		2,483.2			2,548.9
Other property and equipment		172.6			154.2
Construction-in-progress		76.5			85.7

		3,593.2			3,646.7
Accumulated depreciation and amortization		(2,453.1	)		(2,433.9	)

Property and equipment, net	$	1,140.1		$	1,212.8

The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Interest cost capitalized	$	1.3	$	1.2	$	2.7	$	2.2

Depreciation and amortization expense for property and equipment	$	43.7	$	41.5	$	84.3	$	88.7

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Goodwill and Identifiable Intangible Assets

6 Months Ended

Jun. 30, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

(7) Goodwill and Identifiable Intangible Assets

Goodwill

The following table shows our goodwill balances by our new segment reporting structure. We review goodwill for impairment on a reporting unit basis annually during the fourth quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. As of June 30, 2013, we did not identify any changes in circumstances that would indicate the carrying value of goodwill may not be recoverable.


	Gross Carrying Value at December 31, 2012		Accumulated Impairment			Carrying Value at December 31, 2012		Impact of Foreign Currency Translation Six Months Ended June 30, 2013			Gross Carrying Value at June 30, 2013		Accumulated Impairment			Carrying Value at June 30, 2013
Food & Beverage	$	837.7	$	(208.0	)	$	629.7	$	(15.9	)	$	821.8	$	(208.0	)	$	613.8
Institutional & Laundry		2,026.1		(883.0	)		1,143.1		(40.5	)		1,985.6		(883.0	)		1,102.6
Protective Packaging		1,372.7		—			1,372.7		(0.4	)		1,372.3		—			1,372.3
Other category		45.9		—			45.9		(1.0	)		44.9		—			44.9

Total	$	4,282.4	$	(1,091.0	)	$	3,191.4	$	(57.8	)	$	4,224.6	$	(1,091.0	)	$	3,133.6

Identifiable Intangible Assets

The following tables summarize our identifiable intangible assets with definite and indefinite useful lives. As of June 30, 2013, there were no impairment indicators present.


	June 30, 2013										December 31, 2012
	Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net		Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net
Customer relationships	$	958.8	$	(146.6	)		(148.9	)	$	663.3	$	978.1	$	(112.7	)	$	(148.9	)	$	716.5
Trademarks and trade names		881.9		(0.5	)		(630.2	)		251.2		882.3		(0.9	)		(630.2	)		251.2
Technology		244.3		(102.8	)		(22.2	)		119.3		243.5		(79.1	)		(22.2	)		142.2
Contracts		44.4		(18.4	)		—			26.0		44.6		(14.8	)		—			29.8

Total	$	2,129.4	$	(268.3	)	$	(801.3	)	$	1,059.8	$	2,148.5	$	(207.5	)	$	(801.3	)	$	1,139.7

We have determined that substantially all of the trademarks and trade names had indefinite useful lives as of June 30, 2013.

The following table shows the remaining estimated future amortization expense at June 30, 2013:


2013	$	54.6
2014		109.7
2015		84.0
2016		81.7
2017		78.7
Thereafter		400.0

Total	$	808.7

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Accounts Receivable Securitization Programs	6 Months Ended
Accounts Receivable Securitization Programs	Jun. 30, 2013
Text Block [Abstract]
Accounts Receivable Securitization Programs	(8) Accounts Receivable Securitization Programs *U.S. Accounts Receivables Securitization Program* We and a group of our U.S. subsidiaries maintain an accounts receivable securitization program with two banks and issuers of commercial paper administered by these banks. As of June 30, 2013, the maximum purchase limit for receivable interests was $125 million, subject to the availability limits described below. The amounts available from time to time under this program may be less than $125 million due to a number of factors, including but not limited to our credit ratings, trade receivable balances, the creditworthiness of our customers and our receivables collection experience. During the first half of 2013, the level of eligible assets available under the program was lower than $125 million primarily due to our current credit ratings. As a result, the amount available to us under the program was $113 million at June 30, 2013. Although we do not believe restrictions under this program presently materially restrict our operations, if an additional event occurs that triggers one of these restrictive provisions, we could experience a further decline in the amounts available to us under the program or termination of the program. This program is scheduled to expire in September 2013. We intend to extend this program prior to the expiration date. *European Accounts Receivables Securitization Program* In February 2013, we entered into a European accounts receivable securitization program and purchase agreement with Sealed Air Securitization Limited, a special purpose vehicle, or SPV, two banks and a group of our European subsidiaries and in the second quarter of 2013, we added two additional subsidiaries into the program. The maximum purchase limit for receivable interests was €95 million, ($124 million equivalent at June 30, 2013) subject to availability limits, and the program is scheduled to expire in February 2014. The terms and provisions of this program are similar to our U.S. program. As of June 30, 2013, the amount available under this program was €71 million ($93 million equivalent). As of June 30, 2013 and December 31, 2012, we had no amounts outstanding under either the U.S. or European program, and we did not utilize these programs during 2013. Under limited circumstances, the banks and the issuers of commercial paper can end purchases of receivables interests before the above dates. A failure to comply with debt leverage or various other ratios related to our receivables collection experience could result in termination of the receivables programs. We were in compliance with these ratios at June 30, 2013 and December 31, 2012, as applicable.

Restructuring Activities

6 Months Ended

Jun. 30, 2013

Restructuring And Related Activities [Abstract]

Restructuring Activities

(9) Restructuring Activities

2013 Earnings Quality Improvement Program (EQIP)

In May 2013, we announced the commencement of EQIP, which is an initiative to deliver meaningful cost savings and network optimization. The costs associated with this plan consist primarily of (i) a reduction in headcount (expected to be approximately 400-500 employees) and other costs associated with divisional realignment and connected profitability improvement programs, including severance and termination benefits for employees, expected to be approximately $90 million to $95 million, (ii) costs associated with incremental supply chain network optimization projects, including facility relocation and closures, expected to be approximately $85 million to $95 million, and (iii) other costs associated with the plan, currently estimated to be approximately $5 million to $10 million. These amounts are preliminary estimates based on the information currently available to management. The plan is expected to be completed by the end of 2015. We currently estimate that we will incur total costs of approximately $180 million to $200 million in connection with implementation of this plan, including capital expenditures of approximately $55 million to $70 million. The above amounts include expected cash payments of $65 million in 2013.

The associated costs and related restructuring charges for EQIP in the three and six months ended June 30, 2013 are included in the table below:


	Three and Six Months Ended
	June 30,2013
Associated costs	$	1.8
Restructuring charges		16.7

Total	$	18.5

The restructuring charges included in the table above primarily consist of termination and benefit costs.

The restructuring accrual, spending and other activity for the six months ended June 30, 2013 and the accrual balance remaining at June 30, 2013 related to this program were as follows:


EQIP restructuring accrual at December 31, 2012	$	—
Accrual and accrual adjustments		16.7
Cash payments during 2013		(1.9	)
Effect of changes in foreign currency exchange rates		(0.3	)

EQIP restructuring accrual at June 30, 2013	$	14.5

We expect to pay $13 million of the accrual balance remaining at June 30, 2013 within the next twelve months. This amount is included in accrued restructuring costs on the condensed consolidated balance sheet at June 30, 2013. The majority of the remaining accrual of $2 million is expected to be paid in 2014 with minimal amounts to be paid out in 2015. This amount is included in other liabilities on our condensed consolidated balance sheet at June 30, 2013.

2011-2014 Integration and Optimization Program (IOP)

In December 2011, we initiated a restructuring program associated with the integration of Diversey’s business following our acquisition of Diversey on October 3, 2011. The program primarily consists of (i) reduction in headcount, (ii) consolidation of facilities, and (iii) supply chain network optimization, and (iv) certain other capital expenditures. This program is expected to be completed by the end of 2014.

The associated costs and related restructuring charges for IOP in the three and six months ended June 30, 2013 and 2012 are included in the table below:


	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2013			2012		2013			2012
Associated costs	$	3.2		$	1.6	$	8.5		$	7.4
Restructuring charges		(4.8	)		27.1		(5.0	)		74.4

Total	$	(1.6	)	$	28.7	$	3.5		$	81.8

The associated costs in the table above primarily consist of consulting fees included in selling, general and administrative expenses on the condensed consolidated statements of operations for the three and six months ended June 30, 2013. The associated costs for the six months ended June 30, 2012 include asset impairment charges of $5 million related to a facility closure in the U.S., included in cost of sales in our Food & Beverage segment.

The restructuring charges included in the table above primarily consist of termination and benefits costs, including cash-settled stock appreciation rights that were previously issued to Diversey employees as a portion of the total consideration for the acquisition of Diversey of $1 million for the three and six months ended June 30, 2013. This compares to $1 million for the three months ended June 30, 2012 and $8 million for the six months ended June 30, 2012. See Note 15, “Stockholders’ Equity,” for further details of these awards. These charges were included in restructuring and other charges on our condensed consolidated statements of operations.

The restructuring accrual, spending and other activity for the six months ended June 30, 2013 and the accrual balance remaining at June 30, 2013 related to this program were as follows:


IOP restructuring accrual at December 31, 2012	$	88.2
Revision to accrual		(7.7	)
Additional accrual		2.7
Cash payments during 2013		(32.8	)
Effect of changes in foreign currency exchange rates		(1.9	)

IOP restructuring accrual at June 30, 2013	$	48.5

Cumulative cash payments made in connection with this program through June 30, 2013 were $143 million. We expect to pay $43 million of the accrual balance remaining at June 30, 2013 within the next twelve months. This amount is included in accrued restructuring costs on the condensed consolidated balance sheet at June 30, 2013. The majority of the remaining accrual of $6 million is expected to be paid in 2014 with minimal amounts to be paid out in 2015. This amount is included in other liabilities on our condensed consolidated balance sheet at June 30, 2013.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References + Details

Debt and Credit Facilities

6 Months Ended

Jun. 30, 2013

Debt Disclosure [Abstract]

Debt and Credit Facilities

(10) Debt and Credit Facilities

Our total debt outstanding consisted of the amounts included in the table below.


	June 30, 2013		December 31, 2012
Short-term borrowings	$	76.3	$	39.2
Current portion of long-term debt⁽¹⁾		153.6		1.8

Total current debt		229.9		41.0

5.25% Senior Notes due April 2023		425.0		—
12% Senior Notes due February 2014⁽¹⁾		—		153.4
Term Loan A Facility due October 2016, less unamortized lender fees of $12.0 in 2013 and $15.4 in 2012⁽²⁾		783.5		843.9
7.875% Senior Notes due June 2017, less unamortized discount of $5.5 in 2012⁽³⁾		—		394.5
Term Loan B Facility due October 2018, less unamortized lender fees of $9.7 in 2013 and $10.7 in 2012, and unamortized discount of $14.2 in 2013 and $15.6 in 2012 ⁽²⁾		766.5		771.6
8.125% Senior Notes due September 2019		750.0		750.0
6.50% Senior Notes due December 2020		425.0		425.0
8.375% Senior Notes due September 2021		750.0		750.0
6.875% Senior Notes due July 2033, less unamortized discount of $1.4 in 2013 and 2012		448.6		448.6
Other		3.1		3.8

Total long-term debt, less current portion		4,351.7		4,540.8

Total debt⁽⁴⁾	$	4,581.6	$	4,581.8

⁽¹⁾	These notes were reclassified to current portion of long-term debt as of June 30, 2013.

⁽²⁾	In the six months ended June 30, 2013, we prepaid a portion of our 2014 Term Loan A ($51 million) and Term Loan B ($4 million) installments.

⁽³⁾	During 2013, we purchased all of our outstanding $400 million 7.875% Senior Notes due 2017. See below for further discussion.

⁽⁴⁾	The weighted average interest rate on our outstanding debt was 6.2% as of June 30, 2013 and 6.4% as of December 31, 2012.

Senior Notes

2013 Activity

In March 2013, we issued $425 million of 5.25% Senior Notes due April 2023 and used substantially all of the proceeds to retire the 7.875% Senior Notes due June 2017. The aggregate repurchase price was $431 million, which included the principal amount of $400 million, a 6% premium of $23 million and accrued interest of $8 million. As a result, we recognized a net pre-tax loss of $32 million, which included the premium mentioned above, the acceleration of the unamortized debt issuance costs associated with the repurchase of the 7.875% senior notes and certain fees. The loss on debt redemption is included on our condensed consolidated statements of operations.

The 5.25% Senior Notes due April 2023 and their related guarantees were offered only to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons in transactions outside the U.S. under Regulation S of the Securities Act. These notes have not been registered under the Securities Act, and, unless so registered, may not be offered or sold in the U.S. absent registration or an applicable exemption form, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

The 5.25% Senior Notes will mature on April 1, 2023 and interest is payable on April 1 and October 1 of each year, commencing October 1, 2013.

Lines of Credit

The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including our senior secured credit facility, and the amounts available under our accounts receivable securitization programs. We are not subject to any material compensating balance requirements in connection with our lines of credit.


	June 30, 2013		December 31, 2012
Used lines of credit	$	76.3	$	39.2
Unused lines of credit⁽¹⁾		948.9		989.5

Total available lines of credit	$	1,025.2	$	1,028.7

Available lines of credit — committed⁽¹⁾	$	700.5	$	700.5
Available lines of credit — uncommitted		324.7		328.2

Total available lines of credit	$	1,025.2	$	1,028.7

Accounts receivable securitization program — committed⁽²⁾	$	206.0	$	112.0

(1)	Includes a $700 million revolving senior secured credit facility that expires October 2016.

(2)	See Note 8, “Accounts Receivable Securitization Programs,” for further details.

Other Lines of Credit

Substantially all our short-term borrowings of $76 million at June 30, 2013 and $39 million at December 31, 2012 were outstanding under lines of credit available to several of our foreign subsidiaries. The following table details our other lines of credit.


	June 30, 2013			December 31, 2012
Available lines of credit	$	325.2		$	328.3
Unused lines of credit		248.9			289.0
Weighted average interest rate		12.7	%		10.2	%

Covenants

Each issue of our outstanding senior notes imposes limitations on our operations and those of specified subsidiaries. Additionally, the senior secured credit facility contains customary affirmative and negative covenants for credit facilities of this type, including limitations on our indebtedness, liens, investments, restricted payments, mergers and acquisitions, dispositions of assets, transactions with affiliates, amendment of documents and sale leasebacks, and a covenant specifying a maximum permitted ratio of Consolidated Net Debt to Consolidated EBITDA (as defined in the credit facility). We were in compliance with the above financial covenants and limitations at June 30, 2013.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Derivatives and Hedging Activities

6 Months Ended

Jun. 30, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Activities

(11) Derivatives and Hedging Activities

We report all derivative instruments on our balance sheet at fair value and establish criteria for designation and effectiveness of transactions entered into for hedging purposes.

As a large global organization, we face exposure to market risks, such as fluctuations in foreign currency exchange rates and interest rates. To manage the volatility relating to these exposures, we enter into various derivative instruments from time to time under our risk management policies. We designate derivative instruments as hedges on a transaction basis to support hedge accounting. The changes in fair value of these hedging instruments offset in part or in whole corresponding changes in the fair value or cash flows of the underlying exposures being hedged. We assess the initial and ongoing effectiveness of our hedging relationships in accordance with our policy. We do not purchase, hold or sell derivative financial instruments for trading purposes. Our practice is to terminate derivative transactions if the underlying asset or liability matures or is sold or terminated, or if we determine that the underlying forecasted transaction is no longer probable of occurring.

Foreign Currency Forward Contracts Designated as Cash Flow Hedges

The primary purposes of our cash flow hedging activities are to manage the potential changes in value associated with the amounts receivable or payable on equipment and raw material purchases that are denominated in foreign currencies in order to minimize the impact of the changes in foreign currencies. We record gains and losses on foreign currency forward contracts qualifying as cash flow hedges in other comprehensive income (loss) to the extent that these hedges are effective and until we recognize the underlying transactions in net earnings, at which time we recognize these gains and losses in other expense, net, on our condensed consolidated statements of operations.

Net unrealized after tax gains (losses) related to these contracts that were included in other comprehensive loss for the three and six months ended June 30, 2013 and 2012 and any amounts reclassified to the consolidated statements of operations were not material. The unrealized amounts in other comprehensive income (loss) will fluctuate based on changes in the fair value of open contracts during each reporting period.

Foreign Currency Forward Contracts Not Designated as Hedges

Our subsidiaries have foreign currency exchange exposure from buying and selling in currencies other than their functional currencies. The primary purposes of our foreign currency hedging activities are to manage the potential changes in value associated with the amounts receivable or payable on transactions denominated in foreign currencies and to minimize the impact of the changes in foreign currencies related to foreign currency denominated interest-bearing intercompany loans and receivables and payables. The changes in fair value of these derivative contracts are recognized in other expense, net, on our condensed consolidated statements of operations and are substantially offset by the remeasurement of the underlying foreign currency denominated items indicated above. These contracts predominantly have original maturities of less than 12 months.

Other Derivative Instruments

We may use other derivative instruments from time to time, such as foreign exchange options to manage exposure to foreign exchange rates and interest rate and currency swaps related to access to international financing transactions. These instruments can potentially limit foreign exchange exposure by swapping borrowings denominated in one currency for borrowings denominated in another currency. At June 30, 2013 and December 31, 2012, we had no foreign exchange options or interest rate and currency swap agreements outstanding.

See Note 12, “Fair Value Measurements and Other Financial Instruments,” for a discussion of the inputs and valuation techniques used to determine the fair value of our outstanding derivative instruments.

Fair Value of Derivative Instruments

The following table details the fair value of our derivative instruments included on our condensed consolidated balance sheets.


	Fair Value of Asset				Fair Value of (Liability)
	Derivatives ⁽¹⁾				Derivatives ⁽¹⁾
	June 30,		December 31,		June 30,			December 31,
	2013		2012		2013			2012
Derivatives designated as hedging instruments:
Foreign currency forward contracts (cash flow hedges)	$	4.7	$	0.5	$	(0.3	)	$	(0.8	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		26.2		4.9		(11.4	)		(29.6	)

Total	$	30.9	$	5.4	$	(11.7	)	$	(30.4	)

⁽¹⁾	Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the condensed consolidated balance sheets.

The following table details the effect of our derivative instruments on our condensed consolidated statements of operations. The net losses on foreign currency forward contracts included below were substantially offset by the net gains resulting from the remeasurement of the underlying foreign currency denominated items, which are included in other expense, net, on the condensed consolidated statement of operations. The underlying foreign currency denominated items include third party and intercompany receivables and payables and interest-bearing intercompany loans. See “Foreign Currency Forward Contracts Not Designated as Hedges” above for further information.


	Amount of Gain (Loss) Recognized in Earnings on Derivatives⁽¹⁾
	Three Months Ended June 30,					Six Months Ended June 30,
	2013		2012			2013			2012
Derivatives designated as hedging instruments:
Interest rate swaps	$	—	$	0.3		$	—		$	0.4
Foreign currency forward contracts		0.5		0.1			0.2			(0.1	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		3.6		(3.0	)		(16.2	)		(5.6	)

Total	$	4.1	$	(2.6	)	$	(16.0	)	$	(5.3	)

⁽¹⁾	Amounts recognized on the foreign currency forward contracts were included in other expense, net. Amounts recognized on the interest rate swaps were included in interest expense in the condensed consolidated statements of operations.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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-Name Statement of Financial Accounting Standard (FAS)
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Reference 22: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements and Other Financial Instruments

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements and Other Financial Instruments

(12) Fair Value Measurements and Other Financial Instruments

Fair Value Measurements

In determining fair value of financial instruments, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and consider counterparty credit risk in our assessment of fair value. We determine fair value of our financial instruments based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

•

Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date.

•

Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.

•

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date.

The following table details the fair value hierarchy of our financial instruments.


June 30, 2013	Total Fair Value		Level 1		Level 2		Level 3
Cash equivalents	$	327.7	$	—	$	327.7	$	—
Derivative financial instruments net asset:
Foreign currency forward contracts	$	19.2	$	—	$	19.2	$	—

December 31, 2012	Total Fair Value		Level 1		Level 2		Level 3
Cash equivalents	$	210.0	$	—	$	210.0	$	—
Derivative financial instruments net liability:
Foreign currency forward contracts	$	25.0	$	—	$	25.0	$	—

Cash Equivalents

Our cash equivalents at June 30, 2013 and December 31, 2012 consisted of commercial paper and time deposits (fair value determined using Level 2 inputs). Since these are short-term highly liquid investments with original maturities of three months or less at the date of purchase, they present negligible risk of changes in fair value due to changes in interest rates.

Derivative Financial Instruments

Our foreign currency forward contracts are recorded at fair value on our condensed consolidated balance sheets using an income approach valuation technique based on observable market inputs (Level 2).

Observable market inputs used in the calculation of the fair value of foreign currency forward contracts include foreign currency spot and forward rates obtained from an independent third party market data provider. In addition, other pricing data quoted by various banks and foreign currency dealers involving identical or comparable instruments are included.

Counterparties to these foreign currency forward contracts are rated at least A- by Standard & Poor’s and Baa2 by Moody’s. Credit ratings on some of our counterparties may change during the term of our financial instruments. We closely monitor our counterparties’ credit ratings and if necessary will make appropriate changes to our financial instruments. The fair value generally reflects the estimated amounts that we would receive or pay to terminate the contracts at the reporting date.

Other Financial Instruments

The following financial instruments are recorded at fair value or at amounts that approximate fair value: (1) receivables, net, (2) certain other current assets, (3) accounts payable and (4) other current liabilities. The carrying amounts reported on our condensed consolidated balance sheets for the above financial instruments closely approximate their fair value due to the short-term nature of these assets and liabilities.

Other liabilities that are recorded at carrying value on our condensed consolidated balance sheets include our senior notes. We utilize a market approach to calculate the fair value of our senior notes. Due to their limited investor base and the face value of some of our senior notes, they may not be actively traded on the date we calculate their fair value. Therefore, we may utilize prices and other relevant information generated by market transactions involving similar securities, reflecting U.S. Treasury yields to calculate the yield to maturity and the price on some of our senior notes. These inputs are provided by an independent third party and are considered to be Level 2 inputs.

We derive our fair value estimates of our various other debt instruments by evaluating the nature and terms of each instrument, considering prevailing economic and market conditions, and examining the cost of similar debt offered at the balance sheet date. We also incorporated our credit default swap rates and currency specific swap rates in the valuation of each debt instrument, as applicable.

These estimates are subjective and involve uncertainties and matters of significant judgment, and therefore we cannot determine them with precision. Changes in assumptions could significantly affect our estimates.

The table below shows the carrying amounts and estimated fair values of our total debt:


	June 30, 2013				December 31, 2012
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
12% Senior Notes due February 2014	$	151.9	$	160.0	$	153.4	$	172.0
Term Loan A Facility due October 2016⁽¹⁾		783.5		783.5		843.9		843.9
7.875% Senior Notes due June 2017		—		—		394.5		424.8
Term Loan B Facility due October 2018⁽¹⁾		766.5		766.5		771.6		771.6
8.125% Senior Notes due September 2019		750.0		830.2		750.0		846.8
6.50% Senior Notes due December 2020		425.0		449.3		425.0		463.1
8.375% Senior Notes due September 2021		750.0		843.0		750.0		858.5
5.25% Senior Notes due April 2023		425.0		410.0		—		—
6.875% Senior Notes due July 2033		448.6		429.2		448.6		421.7
Other foreign loans		80.5		80.3		44.2		44.0
Other domestic loans		0.6		0.5		0.6		0.6

Total debt	$	4,581.6	$	4,752.5	$	4,581.8	$	4,847.0

⁽¹⁾	Includes borrowings denominated in currencies other than U.S. dollars.

As of June 30, 2013, we did not have any non–financial assets and liabilities that were carried at fair value on a recurring basis in the condensed consolidated financial statements or for which a fair value measurement was required. Included among our non-financial assets and liabilities that are not required to be measured at fair value on a recurring basis are inventories, net property and equipment, goodwill, intangible assets, and asset retirement obligations.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2013
Income Tax Disclosure [Abstract]
Income Taxes	(13) Income Taxes *Effective Income Tax Rate and Income Tax Provision* Our effective income rate from continuing operations was 25.1% for the three months ended June 30, 2013 and 15.0% for the six months ended June 30, 2013. Our effective income tax rate for both the three and six months ended June 30, 2013 benefited from a favorable earnings mix, with earnings in jurisdictions with low tax rates and losses in jurisdictions, including the U.S. for the six month period, with high tax rates. We also benefited from a favorable settlement of a tax dispute in the three months ended June 30, 2013. The favorable factors were partially offset by losses in jurisdictions where we did not have any tax benefit due to the applicable tax rate or valuation allowances. The effective income tax rate for the six months ended June 30, 2013 benefited from a retroactive reinstatement of certain tax provisions that were recorded as discrete items during the three months ended March 31, 2013. On January 2, 2013, the President signed the American Taxpayer Relief Act of 2012, retroactively reinstating and extending the research and development tax credit and certain foreign tax provisions from January 1, 2012 through December 31, 2013. This favorable factor for the six month period was partially offset by an increase in certain foreign tax rates, which increased our deferred tax liabilities. We incurred losses from continuing operations during the three month and six month periods ended June 30, 2012. Our loss before income taxes from continuing operations for the three months ended June 30, 2012 was increased by an income tax provision of $3 million. Our loss before income taxes for the six months ended June 30, 2012 was reduced by an income tax benefit of $7 million (an effective income tax benefit rate of 20.3%). The tax provision (benefit) for the three and six month periods resulted from restructuring efforts, including both taxes incurred with respect to restructuring and restructuring expenses with a zero or low tax benefit. Our tax provision for both the three month and six month periods benefited from earnings in jurisdictions with low tax rates and losses in jurisdictions, such as the U.S., with high tax rates, as well as favorable settlements of certain tax disputes totaling $5 million in the three months ended June 30, 2012 and $10 million in the six months ended June 30, 2012. *Unrecognized Tax Benefits* We made payments to foreign jurisdictions of approximately $4 million during the three months ended June 30, 2013 and $14 million (including $2 million of interest) during the six months ended June 30, 2013, which, in both instances, reduced our unrecognized tax benefits. We have not changed our policy with regard to the reporting of penalties and interest related to unrecognized tax benefits.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2013

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

(14) Commitments and Contingencies

Cryovac Transaction Commitments and Contingencies

Settlement Agreement and Related Costs

On November 27, 2002, we reached an agreement in principle with the Committees appointed to represent asbestos claimants in the bankruptcy case of W. R. Grace & Co., known as Grace, to resolve all current and future asbestos-related claims made against the Company and our affiliates in connection with the Cryovac transaction described below (as memorialized by the parties in the Settlement agreement and as approved by the Bankruptcy Court, the “Settlement agreement”). The Settlement agreement will also resolve the fraudulent transfer claims and successor liability claims, as well as indemnification claims by Fresenius Medical Care Holdings, Inc. and affiliated companies, in connection with the Cryovac transaction. On December 3, 2002, our Board of Directors approved the agreement in principle. We received notice that both of the Committees had approved the agreement in principle as of December 5, 2002. The parties subsequently signed the definitive Settlement agreement as of November 10, 2003 consistent with the terms of the agreement in principle. For a description of the Cryovac transaction, asbestos-related claims and the parties involved, see “Cryovac Transaction,”, “Discussion of Cryovac Transaction Commitments and Contingencies,” “Fresenius Claims,” “Canadian Claims” and “Additional Matters Related to the Cryovac Transaction” below.

We recorded a pre-tax charge of approximately $850 million as a result of the Settlement agreement on our condensed consolidated statement of operations for the year ended December 31, 2002. The charge consisted of the following items:

•

a charge of $513 million covering a cash payment that we will be required to make under the Settlement agreement upon the effectiveness of an appropriate plan of reorganization in the Grace bankruptcy. Because we cannot predict when a plan of reorganization may become effective, we recorded this liability as a current liability on our consolidated balance sheet at December 31, 2002. Under the terms of the Settlement agreement, this amount accrues interest at a 5.5% annual rate from December 21, 2002 to the date of payment. We have recorded this interest in interest expense on our condensed consolidated statements of operations and in Settlement agreement and related accrued interest on our condensed consolidated balance sheets. The accrued interest, which is compounded annually, was $388 million at June 30, 2013 and $364 million at December 31, 2012.

•

a non-cash charge of $322 million representing the fair market value at the date we recorded the charge of nine million shares of Sealed Air common stock that we expect to issue under the Settlement agreement upon the effectiveness of an appropriate plan of reorganization in the Grace bankruptcy, which was adjusted to eighteen million shares due to our two-for-one stock split in March 2007. These shares are subject to customary anti-dilution provisions that adjust for the effects of stock splits, stock dividends and other events affecting our common stock. The fair market value of our common stock was $35.72 per pre-split share ($17.86 post-split) as of the close of business on December 5, 2002. We recorded this amount on our consolidated balance sheet at December 31, 2002 as follows: $0.9 million representing the aggregate par value of these shares of common stock reserved for issuance related to the Settlement agreement, and the remaining $321 million, representing the excess of the aggregate fair market value over the aggregate par value of these common shares, in additional paid-in capital.

•

$16 million of legal and related fees as of December 31, 2002.

Cryovac Transaction

On June 30, 1998, we completed a multi-step transaction that brought the Cryovac packaging business and the former Sealed Air Corporation’s business under the common ownership of the Company. These businesses operate as subsidiaries of the Company, and the Company acts as a holding company. As part of that transaction, the parties separated the Cryovac packaging business, which previously had been held by various direct and indirect subsidiaries of the Company, from the remaining businesses previously held by the Company. The parties then arranged for the contribution of these remaining businesses to a company now known as W. R. Grace & Co., and the Company distributed the Grace shares to the Company’s stockholders. As a result, W. R. Grace & Co. became a separate publicly owned company. The Company recapitalized its outstanding shares of common stock into a new common stock and a new convertible preferred stock. A subsidiary of the Company then merged into the former Sealed Air Corporation, which became a subsidiary of the Company and changed its name to Sealed Air Corporation (US).

Discussion of Cryovac Transaction Commitments and Contingencies

In connection with the Cryovac transaction, Grace and its subsidiaries retained all liabilities arising out of their operations before the Cryovac transaction, whether accruing or occurring before or after the Cryovac transaction, other than liabilities arising from or relating to Cryovac’s operations. Among the liabilities retained by Grace are liabilities relating to asbestos-containing products previously manufactured or sold by Grace’s subsidiaries prior to the Cryovac transaction, including its primary U.S. operating subsidiary, W. R. Grace & Co. — Conn., which has operated for decades and has been a subsidiary of Grace since the Cryovac transaction. The Cryovac transaction agreements provided that, should any claimant seek to hold the Company or any of its subsidiaries responsible for liabilities retained by Grace or its subsidiaries, including the asbestos-related liabilities, Grace and its subsidiaries would indemnify and defend us.

Since the beginning of 2000, we have been served with a number of lawsuits alleging that, as a result of the Cryovac transaction, we are responsible for alleged asbestos liabilities of Grace and its subsidiaries, some of which were also named as co-defendants in some of these actions. Among these lawsuits are several purported class actions and a number of personal injury lawsuits. Some plaintiffs seek damages for personal injury or wrongful death, while others seek medical monitoring, environmental remediation or remedies related to an attic insulation product. Neither the former Sealed Air Corporation nor Cryovac, Inc. ever produced or sold any of the asbestos-containing materials that are the subjects of these cases. None of these cases has reached resolution through judgment, settlement or otherwise. As discussed below, Grace’s Chapter 11 bankruptcy proceeding has stayed all of these cases.

While the allegations in these actions directed to us vary, these actions all appear to allege that the transfer of the Cryovac business as part of the Cryovac transaction was a fraudulent transfer or gave rise to successor liability. Under a theory of successor liability, plaintiffs with claims against Grace and its subsidiaries may attempt to hold us liable for liabilities that arose with respect to activities conducted prior to the Cryovac transaction by W. R. Grace & Co. — Conn. or other Grace subsidiaries. A transfer would be a fraudulent transfer if the transferor received less than reasonably equivalent value and the transferor was insolvent or was rendered insolvent by the transfer, was engaged or was about to engage in a business for which its assets constitute unreasonably small capital, or intended to incur or believed that it would incur debts beyond its ability to pay as they mature. A transfer may also be fraudulent if it was made with actual intent to hinder, delay or defraud creditors. If a court found any transfers in connection with the Cryovac transaction to be fraudulent transfers, we could be required to return the property or its value to the transferor or could be required to fund liabilities of Grace or its subsidiaries for the benefit of their creditors, including asbestos claimants. We have reached an agreement in principle and subsequently signed the Settlement agreement, described below, that is expected to resolve all these claims.

In the Joint Proxy Statement furnished to their respective stockholders in connection with the Cryovac transaction, both parties to the transaction stated that it was their belief that Grace and its subsidiaries were adequately capitalized and would be adequately capitalized after the Cryovac transaction and that none of the transfers contemplated to occur in the Cryovac transaction would be a fraudulent transfer. They also stated their belief that the Cryovac transaction complied with other relevant laws. However, if a court applying the relevant legal standards had reached conclusions adverse to us, these determinations could have had a materially adverse effect on our consolidated financial condition and results of operations.

On April 2, 2001, Grace and a number of its subsidiaries filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court in the District of Delaware (the “Bankruptcy Court”). Grace stated that the filing was made in response to a sharply increasing number of asbestos claims since 1999.

In connection with its Chapter 11 filing, Grace filed an application with the Bankruptcy Court seeking to stay, among others, all actions brought against the Company and specified subsidiaries related to alleged asbestos liabilities of Grace and its subsidiaries or alleging fraudulent transfer claims. The court issued an order dated May 3, 2001, which was modified on January 22, 2002, under which the court stayed all the filed or pending asbestos actions against us and, upon filing and service on us, all future asbestos actions. No further proceedings involving us can occur in the actions that have been stayed except upon further order of the Bankruptcy Court.

Committees appointed to represent asbestos claimants in Grace’s bankruptcy case received the court’s permission to pursue fraudulent transfer and other claims against the Company and its subsidiary Cryovac, Inc., and against Fresenius, as discussed below. The claims against Fresenius are based upon a 1996 transaction between Fresenius and W. R. Grace & Co. — Conn. Fresenius is not affiliated with us. In March 2002, the court ordered that the issues of the solvency of Grace following the Cryovac transaction and whether Grace received reasonably equivalent value in the Cryovac transaction would be tried on behalf of all of Grace’s creditors. This proceeding was brought in the U.S. District Court for the District of Delaware (the “District Court”) (Adv. No. 02-02210).

In June 2002, the court permitted the U.S. government to intervene as a plaintiff in the fraudulent transfer proceeding, so that the U.S. government could pursue allegations that environmental remediation expenses were underestimated or omitted in the solvency analyses of Grace conducted at the time of the Cryovac transaction. The court also permitted Grace, which asserted that the Cryovac transaction was not a fraudulent transfer, to intervene in the proceeding. In July 2002, the court issued an interim ruling on the legal standards to be applied in the trial, holding, among other things, that, subject to specified limitations, post-1998 claims should be considered in the solvency analysis of Grace. We believe that only claims and liabilities that were known, or reasonably should have been known, at the time of the 1998 Cryovac transaction should be considered under the applicable standard.

With the fraudulent transfer trial set to commence on December 9, 2002, on November 27, 2002, we reached an agreement in principle with the Committees prosecuting the claims against the Company and Cryovac, Inc., to resolve all current and future asbestos-related claims arising from the Cryovac transaction. On the same day, the court entered an order confirming that the parties had reached an amicable resolution of the disputes among the parties and that counsel for us and the Committees had agreed and bound the parties to the terms of the agreement in principle. As discussed above, the agreement in principle called for payment of nine million shares of our common stock and $513 million in cash, plus interest on the cash payment at a 5.5% annual rate starting on December 21, 2002 and ending on the effective date of an appropriate plan of reorganization in the Grace bankruptcy, when we are required to make the payment. These shares are subject to customary anti-dilution provisions that adjust for the effects of stock splits, stock dividends and other events affecting our common stock, and as a result, the number of shares of our common stock that we will issue increased to eighteen million shares upon the two-for-one stock split in March 2007. On December 3, 2002, the Company’s Board of Directors approved the agreement in principle. We received notice that both of the Committees had approved the agreement in principle as of December 5, 2002. The parties subsequently signed the definitive Settlement agreement as of November 10, 2003 consistent with the terms of the agreement in principle. On November 26, 2003, the parties jointly presented the definitive Settlement agreement to the District Court for approval. On Grace’s motion to the District Court, that court transferred the motion to approve the Settlement agreement to the Bankruptcy Court for disposition.

On June 27, 2005, the Bankruptcy Court signed an order approving the Settlement agreement. Although Grace is not a party to the Settlement agreement, under the terms of the order, Grace is directed to comply with the Settlement agreement subject to limited exceptions. The order also provides that the Court will retain jurisdiction over any dispute involving the interpretation or enforcement of the terms and provisions of the Settlement agreement. We expect that the Settlement agreement will become effective upon Grace’s emergence from bankruptcy pursuant to a plan of reorganization that is consistent with the terms of the Settlement agreement.

On June 8, 2004, we filed a motion with the District Court, where the fraudulent transfer trial was pending, requesting that the court vacate the July 2002 interim ruling on the legal standards to be applied relating to the fraudulent transfer claims against us. We were not challenging the Settlement agreement. The motion was filed as a protective measure in the event that the Settlement agreement is ultimately not approved or implemented; however, we still expect that the Settlement agreement will become effective upon Grace’s emergence from bankruptcy with a plan of reorganization that is consistent with the terms of the Settlement agreement.

On July 11, 2005, the Bankruptcy Court entered an order closing the proceeding brought in 2002 by the committees appointed to represent asbestos claimants in the Grace bankruptcy proceeding against us without prejudice to our right to reopen the matter and renew in our sole discretion our motion to vacate the July 2002 interim ruling on the legal standards to be applied relating to the fraudulent transfer claims against us. As a condition to our obligation to make the payments required by the Settlement agreement, any final plan of reorganization must be consistent with the terms of the Settlement agreement, including provisions for the trusts and releases referred to below and for an injunction barring the prosecution of any asbestos-related claims against us. The Settlement agreement provides that, upon the effective date of the final plan of reorganization and payment of the shares and cash, all present and future asbestos-related claims against us that arise from alleged asbestos liabilities of Grace and its affiliates (including former affiliates that became our affiliates through the Cryovac transaction) will be channeled to and become the responsibility of one or more trusts to be established under Section 524(g) of the Bankruptcy Code as part of a final plan of reorganization in the Grace bankruptcy. The Settlement agreement will also resolve all fraudulent transfer claims against us arising from the Cryovac transaction as well as the Fresenius claims described below. The Settlement agreement provides that we will receive releases of all those claims upon payment. Under the agreement, we cannot seek indemnity from Grace for our payments required by the Settlement agreement. The order approving the Settlement agreement also provides that the stay of proceedings involving us described above will continue through the effective date of the final plan of reorganization, after which, upon implementation of the Settlement agreement, we will be released from the liabilities asserted in those proceedings and their continued prosecution against us will be enjoined.

In January 2005, Grace filed a proposed plan of reorganization (the “Grace Plan”) with the Bankruptcy Court. There were a number of objections filed. The Official Committee of Asbestos Personal Injury Claimants (the “ACC”) and the Asbestos PI Future Claimants’ Representative (the “PI FCR”) filed their proposed plan of reorganization (the “Claimants’ Plan”) with the Bankruptcy Court in November 2007. On April 7, 2008, Grace issued a press release announcing that Grace, the ACC, the PI FCR, and the Official Committee of Equity Security Holders (the “Equity Committee”) had reached an agreement in principle to settle all present and future asbestos-related personal injury claims against Grace (the “PI Settlement”) and disclosed a term sheet outlining certain terms of the PI Settlement and for a contemplated plan of reorganization that would incorporate the PI Settlement (as filed and amended from time to time, the “PI Settlement Plan”).

On September 19, 2008, Grace, the ACC, the PI FCR, and the Equity Committee filed, as co-proponents, the PI Settlement Plan and several exhibits and associated documents, including a disclosure statement (as filed and amended from time to time, the “PI Settlement Disclosure Statement”), with the Bankruptcy Court. Amended versions of the PI Settlement Plan and the PI Settlement Disclosure Statement have been filed with the Bankruptcy Court from time to time. The PI Settlement Plan, which supersedes each of the Grace Plan and the Claimants’ Plan, remains pending and has not become effective. The committee representing general unsecured creditors and the Official Committee of Asbestos Property Damage Claimants are not co-proponents of the PI Settlement Plan. As filed, the PI Settlement Plan would provide for the establishment of two asbestos trusts under Section 524(g) of the United States Bankruptcy Code to which present and future asbestos-related claims would be channeled. The PI Settlement Plan also contemplates that the terms of the Settlement agreement will be incorporated into the PI Settlement Plan and that we will pay the amount contemplated by the Settlement agreement. On March 9, 2009, the Bankruptcy Court entered an order approving the PI Settlement Disclosure Statement (the “DS Order”) as containing adequate information and authorizing Grace to solicit votes to accept or reject the PI Settlement Plan, all as more fully described in the order. The DS Order did not constitute the Bankruptcy Court’s confirmation of the PI Settlement Plan, approval of the merits of the PI Settlement Plan, or endorsement of the PI Settlement Plan. In connection with the plan voting process in the Grace bankruptcy case, we voted in favor of the PI Settlement Plan that was before the Bankruptcy Court. We will continue to review any amendments to the PI Settlement Plan on an ongoing basis to verify compliance with the Settlement agreement.

On June 8, 2009, a senior manager with the voting agent appointed in the Grace bankruptcy case filed a declaration with the Bankruptcy Court certifying the voting results with respect to the PI Settlement Plan. This declaration was amended on August 5, 2009 (as amended, the “Voting Declaration”). According to the Voting Declaration, with respect to each class of claims designated as impaired by Grace, the PI Settlement Plan was approved by holders of at least two-thirds in amount and more than one-half in number (or for classes voting for purposes of Section 524(g) of the Bankruptcy Code, at least 75% in number) of voted claims. The Voting Declaration also discusses the voting results with respect to holders of general unsecured claims (“GUCs”) against Grace, whose votes were provisionally solicited and counted subject to a determination by the Bankruptcy Court of whether GUCs are impaired (and, thus, entitled to vote) or, as Grace contends, unimpaired (and, thus, not entitled to vote). According to the Voting Declaration, more than one half of voting holders of GUCs voted to accept the PI Settlement Plan, but the provisional vote did not obtain the requisite two-thirds dollar amount to be deemed an accepting class in the event that GUCs are determined to be impaired. To the extent that GUCs are determined to be an impaired non-accepting class, Grace and the other plan proponents have indicated that they would nevertheless seek confirmation of the PI Settlement Plan under the “cram down” provisions contained in Section 1129(b) of the Bankruptcy Code.

On January 31, 2011, the Bankruptcy Court entered a memorandum opinion (as amended, the “Bankruptcy Court Opinion”) overruling certain objections to the PI Settlement Plan and finding, among other things, that GUCs are not impaired under the PI Settlement Plan. On the same date, the Bankruptcy Court entered an order regarding confirmation of the PI Settlement Plan (as amended, the “Bankruptcy Court Confirmation Order”). As entered on January 31, 2011, the Bankruptcy Court Confirmation Order contained recommended findings of fact and conclusions of law, and recommended that the District Court approve the Bankruptcy Court Confirmation Order, and that the District Court confirm the PI Settlement Plan and issue a channeling injunction under Section 524(g) of the Bankruptcy Code. Thereafter, on February 15, 2011, the Bankruptcy Court issued an order clarifying the Bankruptcy Court Opinion and the Bankruptcy Court Confirmation Order (the “Clarifying Order”). Among other things, the Clarifying Order provided that any references in the Bankruptcy Court Opinion and the Bankruptcy Court Confirmation Order to a recommendation that the District Court confirm the PI Settlement Plan were thereby amended to make clear that the PI Settlement Plan was confirmed and that the Bankruptcy Court was requesting that the District Court issue and affirm the Bankruptcy Court Confirmation Order including the injunction under Section 524(g) of the Bankruptcy Code. On March 11, 2011, the Bankruptcy Court entered an order granting in part and denying in part a motion to reconsider the Bankruptcy Court Opinion filed by BNSF Railway Company (the “March 11 Order”). Among other things, the March 11 Order amended the Bankruptcy Court Opinion to clarify certain matters relating to objections to the PI Settlement Plan filed by BNSF.

Various parties appealed or otherwise challenged the Bankruptcy Court Opinion and the Bankruptcy Court Confirmation Order, including without limitation with respect to issues relating to releases and injunctions contained in the PI Settlement Plan. On June 28 and 29, 2011, the District Court heard oral arguments in connection with appeals of the Bankruptcy Court Opinion and the Bankruptcy Court Confirmation Order.

On January 30, 2012, the District Court issued a memorandum opinion (the “Original District Court Opinion”) and confirmation order (the “Original District Court Confirmation Order”) overruling all objections to the PI Settlement Plan and confirming the PI Settlement Plan in its entirety (including the issuance of the injunction under Section 524(g) of the Bankruptcy Code). On February 3, 2012, Garlock Sealing Technologies LLC (“Garlock”) filed a motion (the “Garlock Reargument Motion”) with the District Court requesting that the District Court grant reargument, rehearing, or otherwise amend the Original District Court Opinion and the Original District Court Confirmation Order insofar as they overruled Garlock’s objections to the PI Settlement Plan. On February 13, 2012, the Company, Cryovac, and Fresenius Medical Care Holdings, Inc. filed a joint motion (the “Sealed Air/Fresenius Motion”) with the District Court. The Sealed Air/Fresenius Motion did not seek to disturb confirmation of the PI Settlement Plan but requested that the District Court amend and clarify certain matters in the Original District Court Opinion and the Original District Court Confirmation Order. Also on February 13, 2012, Grace and the other proponents of the PI Settlement Plan filed a motion (the “Plan Proponents’ Motion”) with the District Court requesting certain of the same amendments and clarifications sought by the Sealed Air/Fresenius Motion. On February 27, 2012, certain asbestos claimants known as the “Libby Claimants” filed a response to the Sealed Air/Fresenius Motion and the Plan Proponents’ Motion (the “Libby Response”). The Libby Response did not oppose the Sealed Air/Fresenius Motion or the Plan Proponents’ Motion but indicated, among other things, that: (a) the Libby Claimants had reached a settlement in principle of their objections to the PI Settlement Plan but that this settlement had not become effective and (b) the Libby Claimants reserved their rights with respect to the PI Settlement Plan pending the effectiveness of the Libby Claimants’ settlement. On April 20, 2012, as part of a more global settlement, Grace filed a motion with the Bankruptcy Court seeking, among other things, approval of settlements with the Libby Claimants and BNSF. The settlements with the Libby Claimants and BNSF were approved by order of the Bankruptcy Court dated June 6, 2012. Thereafter, the appeals of the Libby Claimants and BNSF with respect to the PI Settlement Plan were dismissed by orders of the United States Court of Appeals for the Third Circuit (the “Third Circuit Court of Appeals”) dated September 24, 2012 and October 4, 2012. The District Court held a hearing on May 8, 2012, to consider the Garlock Reargument Motion. On May 29, 2012, Anderson Memorial Hospital (“Anderson Memorial”) filed a motion seeking relief from, and reconsideration of, the Original District Court Opinion and the Original District Court Confirmation Order (the “Anderson Relief Motion”). In the Anderson Relief Motion, Anderson Memorial argued that a May 18, 2012, decision by the Third Circuit Court of Appeals in a case called Wright v. Owens-Corning undermined the District Court’s conclusion that (a) the PI Settlement Plan was feasible and (b) the asbestos property damage injunction and trust included in the PI Settlement Plan were appropriate. Objections to the Anderson Relief Motion were filed by Grace and the other proponents of the PI Settlement Plan, and by the representative of future asbestos property damage claimants appointed in the Grace bankruptcy proceedings. On June 11, 2012, the District Court entered a consolidated order (the “Consolidated Order”) granting the Sealed Air/Fresenius Motion, the Plan Proponents’ Motion, and the Garlock Reargument Motion, and providing for amendments to the Original District Court Opinion and the Original District Court Confirmation Order. Although the Consolidated Order granted the Garlock Reargument Motion, it did not constitute the District Court’s agreement with Garlock’s objections to the PI Settlement Plan, which the District Court continued to overrule. Also on June 11, 2012, the District Court entered an amended memorandum opinion (the “Amended District Court Opinion”) and confirmation order (the “Amended District Court Confirmation Order”) overruling all objections to the PI Settlement Plan, reflecting amendments described in the Consolidated Order, and confirming the PI Settlement Plan in its entirety (including the issuance of the injunction under Section 524(g) of the Bankruptcy Code). Thereafter, on July 23, 2012, the District Court issued a memorandum opinion and an order denying the Anderson Relief Motion.

Parties have appealed the Amended District Court Opinion and the Amended District Court Confirmation Order to the Third Circuit Court of Appeals. Parties have filed briefs in connection with the appeals, and the Third Circuit Court of Appeals heard oral arguments with respect to the appeals on June 17, 2013. The Third Circuit Court of Appeals took these matters under advisement. On July 24, 2013, the Third Circuit Court of Appeals entered an opinion and a judgment relating to Garlock’s appeals (the “Third Circuit Garlock Opinion & Judgment”) affirming the District Court’s decision to overrule Garlock’s objections to the PI Settlement Plan. The Third Circuit Garlock Opinion & Judgment does not rule on the appeals of parties other than Garlock. We do not know when the Third Circuit Court of Appeals will rule on the non-Garlock appeals. While Grace has in the past indicated that, with an appeals process before the Third Circuit Court of Appeals, its target date to emerge from bankruptcy was the fourth quarter of 2013, we cannot make assurances that this timing for emergence is or will be correct or that the target date for Grace’s emergence has not been or will not be revised.

Consistent with our Settlement agreement, we are prepared to pay the Settlement amount directly to the asbestos trusts to be established under section 524(g) of the Bankruptcy Code once the conditions of the Settlement agreement are fully satisfied. Among those conditions is that approval of an appropriate Grace bankruptcy plan – containing all releases, injunctions, and protections required by the Settlement agreement – be final and not subject to any appeal. Given the pending appeals (which include, without limitation, challenges to injunctions and releases in the PI Settlement Plan), the condition that approval of the PI Settlement Plan be final and not subject to any appeal has not been satisfied at this time. The Company has not waived this or any other condition of the Settlement agreement nor can there be any assurance that each of the parties whose consent or waiver is required for Grace to emerge from bankruptcy while the appeals are pending will provide such consent or waiver. Although we are optimistic that, if it were to become effective, the PI Settlement Plan would implement the terms of the Settlement agreement, we can give no assurance that this will be the case notwithstanding the confirmation of the PI Settlement Plan by the Bankruptcy Court and the District Court. The terms of the PI Settlement Plan remain subject to amendment. Moreover, the PI Settlement Plan is subject to the satisfaction of a number of conditions which are more fully set forth in the PI Settlement Plan and include, without limitation, the availability of exit financing and the approval of the PI Settlement Plan becoming final and no longer subject to appeal. As noted, parties have appealed the Amended District Court Confirmation Order to the Third Circuit Court of Appeals or have otherwise challenged the Amended District Court Opinion and the Amended District Court Confirmation Order. Matters relating to the PI Settlement Plan, the Bankruptcy and Amended District Court Opinions, and the Bankruptcy and Amended District Court Confirmation Orders may be subject to further appeal, challenge, and proceedings before the District Court, the Third Circuit Court of Appeals, or other courts. Parties have challenged various issues with respect to the PI Settlement Plan, the Bankruptcy and Amended District Court Opinions, and the Bankruptcy and Amended District Court Confirmation Orders, including, without limitation, issues relating to releases and injunctions contained in the PI Settlement Plan.

While the Bankruptcy Court and the District Court have confirmed the PI Settlement Plan and the Third Circuit Court of Appeals has entered the Third Circuit Garlock Opinion & Judgment, we do not know whether or when the Third Circuit Court of Appeals will affirm the Amended District Court Confirmation Order or the Amended District Court Opinion with respect to the non-Garlock appeals, whether or when the Bankruptcy and Amended District Court Opinions or the Bankruptcy and Amended District Court Confirmation Orders will become final and no longer subject to appeal, or whether or when a final plan of reorganization (whether the PI Settlement Plan or another plan of reorganization) will become effective. Assuming that a final plan of reorganization (whether the PI Settlement Plan or another plan of reorganization) is confirmed by the Bankruptcy Court and the District Court, and does become effective, we do not know whether the final plan of reorganization will be consistent with the terms of the Settlement agreement or if the other conditions to our obligation to pay the Settlement agreement amount will be met. If these conditions are not satisfied or not waived by us, we will not be obligated to pay the amount contemplated by the Settlement agreement. However, if we do not pay the Settlement agreement amount, we will not be released from the various asbestos related, fraudulent transfer, successor liability, and indemnification claims made against us and all of these claims would remain pending and would have to be resolved through other means, such as through agreement on alternative settlement terms or trials. In that case, we could face liabilities that are significantly different from our obligations under the Settlement agreement. We cannot estimate at this time what those differences or their magnitude may be. In the event these liabilities are materially larger than the current existing obligations, they could have a material adverse effect on our consolidated financial condition and results of operations. We will continue to review and monitor the progress of the Grace bankruptcy proceedings (including appeals and other proceedings relating to the PI Settlement Plan, the Bankruptcy and Amended District Court Opinions, and the Bankruptcy and Amended District Court Confirmation Orders), as well as any amendments or changes to the PI Settlement Plan or to Bankruptcy and Amended District Court Opinions and Confirmation Orders, to verify compliance with the Settlement agreement.

Fresenius Claims

In January 2002, we filed a declaratory judgment action against Fresenius Medical Care Holdings, Inc., its parent, Fresenius AG, a German company, and specified affiliates in New York State court asking the court to resolve a contract dispute between the parties. The Fresenius parties contended that we were obligated to indemnify them for liabilities that they might incur as a result of the 1996 Fresenius transaction mentioned above. The Fresenius parties’ contention was based on their interpretation of the agreements between them and W. R. Grace & Co. — Conn. in connection with the 1996 Fresenius transaction. In February 2002, the Fresenius parties announced that they had accrued a charge of $172 million for these potential liabilities, which included pre-transaction tax liabilities of Grace and the costs of defense of litigation arising from Grace’s Chapter 11 filing. We believe that we were not responsible to indemnify the Fresenius parties under the 1996 agreements and filed the action to proceed to a resolution of the Fresenius parties’ claims. In April 2002, the Fresenius parties filed a motion to dismiss the action and for entry of declaratory relief in its favor. We opposed the motion, and in July 2003, the court denied the motion without prejudice in view of the November 27, 2002 agreement in principle referred to above. As noted above, under the Settlement agreement, we and the Fresenius parties will exchange mutual releases, which will release us from any and all claims related to the 1996 Fresenius transaction.

Canadian Claims

In November 2004, the Company’s Canadian subsidiary Sealed Air (Canada) Co./Cie learned that it had been named a defendant in the case of Thundersky v. The Attorney General of Canada, et al. (File No. CI04-01-39818), pending in the Manitoba Court of Queen’s Bench. Grace and W. R. Grace & Co. — Conn. are also named as defendants. The plaintiff brought the claim as a putative class proceeding and seeks recovery for alleged injuries suffered by any Canadian resident, other than in the course of employment, as a result of Grace’s marketing, selling, processing, manufacturing, distributing and/or delivering asbestos or asbestos-containing products in Canada prior to the Cryovac Transaction. A plaintiff filed another proceeding in January 2005 in the Manitoba Court of Queen’s Bench naming the Company and specified subsidiaries as defendants. The latter proceeding, Her Majesty the Queen in Right of the Province of Manitoba v. The Attorney General of Canada, et al. (File No. CI05-01-41069), seeks the recovery of the cost of insured health services allegedly provided by the Government of Manitoba to the members of the class of plaintiffs in the Thundersky proceeding. In October 2005, we learned that six additional putative class proceedings had been brought in various provincial and federal courts in Canada seeking recovery from the Company and its subsidiaries Cryovac, Inc. and Sealed Air (Canada) Co./Cie, as well as other defendants including W. R. Grace & Co. and W. R. Grace & Co. — Conn., for alleged injuries suffered by any Canadian resident, other than in the course of employment (except with respect to one of these six claims), as a result of Grace’s marketing, selling, manufacturing, processing, distributing and/or delivering asbestos or asbestos-containing products in Canada prior to the Cryovac transaction. Grace and W. R. Grace & Co. — Conn. have agreed to defend, indemnify and hold harmless the Company and its affiliates in respect of any liability and expense, including legal fees and costs, in these actions.

In April 2001, Grace Canada, Inc. had obtained an order of the Superior Court of Justice, Commercial List, Toronto (the “Canadian Court”), recognizing the Chapter 11 actions in the United States of America involving Grace Canada, Inc.’s U.S. parent corporation and other affiliates of Grace Canada, Inc., and enjoining all new actions and staying all current proceedings against Grace Canada, Inc. related to asbestos under the Companies’ Creditors Arrangement Act. That order has been renewed repeatedly. In November 2005, upon motion by Grace Canada, Inc., the Canadian Court ordered an extension of the injunction and stay to actions involving asbestos against the Company and its Canadian affiliate and the Attorney General of Canada, which had the effect of staying all of the Canadian actions referred to above. The parties finalized a global settlement of these Canadian actions (except for claims against the Canadian government). That settlement, which has subsequently been amended (the “Canadian Settlement”), will be entirely funded by Grace. The Canadian Court issued an Order on December 13, 2009 approving the Canadian Settlement. We do not have any positive obligations under the Canadian Settlement, but we are a beneficiary of the release of claims. The release in favor of the Grace parties (including us) will become operative upon the effective date of a plan of reorganization in Grace’s United States Chapter 11 bankruptcy proceeding. As filed, the PI Settlement Plan contemplates that the claims released under the Canadian Settlement will be subject to injunctions under Section 524(g) of the Bankruptcy Code. As indicated above, the Bankruptcy Court entered the Bankruptcy Court Confirmation Order on January 31, 2011 and the Clarifying Order on February 15, 2011 and the District Court entered the Original District Court Confirmation Order on January 30, 2012 and the Amended District Court Confirmation Order on June 11, 2012. The Canadian Court issued an Order on April 8, 2011 recognizing and giving full effect to the Bankruptcy Court’s Confirmation Order in all provinces and territories of Canada in accordance with the Bankruptcy Court Confirmation Order’s terms. Notwithstanding the foregoing, the PI Settlement Plan has not become effective, and we can give no assurance that the PI Settlement Plan (or any other plan of reorganization) will become effective. Assuming that a final plan of reorganization (whether the PI Settlement Plan or another plan of reorganization) does become effective, if the final plan of reorganization does not incorporate the terms of the Canadian Settlement or if the Canadian courts refuse to enforce the final plan of reorganization in the Canadian courts, and if in addition Grace is unwilling or unable to defend and indemnify the Company and its subsidiaries in these cases, then we could be required to pay substantial damages, which we cannot estimate at this time and which could have a material adverse effect on our consolidated financial condition and results of operations.

Additional Matters Related to the Cryovac Transaction

In view of Grace’s Chapter 11 filing, we may receive additional claims asserting that we are liable for obligations that Grace had agreed to retain in the Cryovac transaction and for which we may be contingently liable. To date, we are not aware of any material claims having been asserted or threatened against us.

Final determinations and accountings under the Cryovac transaction agreements with respect to matters pertaining to the transaction had not been completed at the time of Grace’s Chapter 11 filing in 2001. We have filed claims in the bankruptcy proceeding that reflect the costs and liabilities that we have incurred or may incur that Grace and its affiliates agreed to retain or that are subject to indemnification by Grace and its affiliates under the Cryovac transaction agreements, other than payments to be made under the Settlement agreement. Grace has alleged that we are responsible for specified amounts under the Cryovac transaction agreements. Subject to the terms of the Settlement agreement, amounts for which we may be liable to Grace may be used to offset the liabilities of Grace and its affiliates to us. We intend to seek indemnification by Grace and its affiliates to the extent permissible under law, the Settlement agreement, and the Cryovac transaction agreements. Except to the extent of any potential setoff or similar claim, we expect that our claims will be as an unsecured creditor of Grace. Since portions of our claims against Grace and its affiliates are contingent or unliquidated, we cannot determine the amount of our claims, the extent to which these claims may be reduced by setoff, how much of the claims may be allowed, or the amount of our recovery on these claims, if any, in the bankruptcy proceeding.

Environmental Matters

We are subject to loss contingencies resulting from environmental laws and regulations, and we accrue for anticipated costs associated with investigatory and remediation efforts when an assessment has indicated that a loss is probable and can be reasonably estimated. These accruals are not reduced by potential insurance recoveries, if any. We do not believe that it is reasonably possible that our liability in excess of the amounts that we have accrued for environmental matters will be material to our consolidated financial condition or results of operations. Environmental liabilities are reassessed whenever circumstances become better defined or remediation efforts and their costs can be better estimated.

We evaluate these liabilities periodically based on available information, including the progress of remedial investigations at each site, the current status of discussions with regulatory authorities regarding the methods and extent of remediation and the apportionment of costs among potentially responsible parties. As some of these issues are decided (the outcomes of which are subject to uncertainties) or new sites are assessed and costs can be reasonably estimated, we adjust the recorded accruals, as necessary. We believe that these exposures are not material to our consolidated financial condition or results of operations. We believe that we have adequately reserved for all probable and estimable environmental exposures.

Guarantees and Indemnification Obligations

We are a party to many contracts containing guarantees and indemnification obligations. These contracts primarily consist of:

•

product warranties with respect to certain products sold to customers in the ordinary course of business. These warranties typically provide that products will conform to specifications. Sealed Air generally does not establish a liability for product warranty based on a percentage of sales or other formula. Sealed Air accrues a warranty liability on a transaction-specific basis depending on the individual facts and circumstances related to each sale. Both the liability and annual expense related to product warranties are immaterial to our consolidated financial position and results of operations; and

•

licenses of intellectual property by us to third parties in which we have agreed to indemnify the licensee against third party infringement claims.

Development Grant Matter

On May 25, 2010, one of our Italian subsidiaries received a demand from the Italian Ministry of Economic Development for the total repayment of grant monies paid to two of our former subsidiaries in the amount of €5.1 million. With accrued interest the total value of the demand currently stands at €10.1 million ($13 million equivalent at June 30, 2013). The grant monies had previously been certified as payable by the Italian authorities and the grant process was finalized and closed in 2006. We acquired the former subsidiaries in September 2001 as part of an acquisition. The substance of the repayment demand is that the former owners of the subsidiaries made fraudulent claims and used fraudulent documents to support their grant application prior to our acquisition. There is no suggestion that we or our Italian subsidiary were directly involved in the grant process, but as purchaser of the two companies, the Ministry is seeking repayment from our Italian subsidiary. Our Italian subsidiary submitted a total denial of liability in regard to this matter on June 30, 2010. A full hearing of the merits of the demand is scheduled for July 2014. At this interim stage of the proceedings we are not able to determine the eventual outcome of the case. Accordingly, we have not recorded a liability related to this matter. We do not expect this matter to be material to our full year consolidated financial condition or results of operations, however the amount may be material to an interim reporting period.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stockholders' Equity

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Stockholders' Equity

(15) Stockholders’ Equity

Quarterly Cash Dividends

On July 11, 2013, our Board of Directors declared a quarterly cash dividend of $0.13 per common share payable on September 20, 2013 to stockholders of record at the close of business on September 6, 2013. The estimated amount of this dividend payment is $25 million based on 196 million shares of our common stock issued and outstanding as of June 30, 2013.

On April 11, 2013, our Board of Directors declared a quarterly cash dividend of $0.13 per common share payable on June 21, 2013 to stockholders of record at the close of business on June 7, 2013. We used $25 million of available cash to pay this quarterly cash dividend.

On February 14, 2013, our Board of Directors declared a quarterly cash dividend of $0.13 per common share payable on March 15, 2013 to stockholders of record at the close of business on March 1, 2013. We used $25 million of available cash to pay this quarterly cash dividend.

The dividend payments discussed above are recorded as reductions to cash and cash equivalents and retained earnings on our condensed consolidated balance sheets. Our credit facility and our senior notes contain covenants that restrict our ability to declare or pay dividends. However, we do not believe these covenants are likely to materially limit the future payment of quarterly cash dividends on our common stock. From time to time, we may consider other means of returning value to our stockholders based on our consolidated financial condition and results of operations. There is no guarantee that our Board of Directors will declare any further dividends.

Stock Appreciation Rights (“SARs”)

In connection with the acquisition of Diversey, Sealed Air exchanged Diversey’s cash-settled stock appreciation rights and stock options that were unvested as of May 31, 2011 and unexercised at October 3, 2011 (the date of acquisition) into cash-settled stock appreciation rights based on Sealed Air common stock. As of June 30, 2013, we had 1.9 million SARs outstanding and the weighted average remaining vesting life of outstanding SARs was less than one year.

Since these SARs are settled in cash, the amount of the related expense has fluctuated and the related future expense will fluctuate based on exercise and forfeiture activity and the changes in the assumptions used in a Black-Scholes valuation model, which include Sealed Air’s stock price, risk-free interest rates, expected volatility and a dividend yield. In addition, once vested, the related expense will continue to fluctuate due to the changes in the assumptions used in the Black-Scholes valuation model for any SARs that are not exercised until their respective expiration dates, the last of which is currently in March 2021.

We recognized SARs expense of less than $1 million in the three months ended June 30, 2013 and $18 million in the six months ended June 30, 2013, related to SARs that were granted to Diversey employees who remained employees as of June 30, 2013. We also recognized a reduction of SARs expense of $9 million in the three months ended June 30, 2012 and SARs expense of $3 million in the six months ended June 30, 2012, related to SARs that were granted to Diversey employees who remained employees as of June 30, 2012. Cash payments due to the exercise of these SARs were $28 million in the six months ended June 30, 2013 and $22 million in the six months ended June 30, 2012. As of June 30, 2013, the remaining liability for these SARs was $32 million and is included in other current ($8 million) and non-current liabilities ($24 million) on the condensed consolidated balance sheet.

In addition to the amounts discussed above, we recognized restructuring expense of less than $1 million in the three months ended June 30, 2013 and $1 million in the six months ended June 30, 2013 for SARs payments that were part of the termination and benefit costs for employees under the 2011 – 2014 IOP. This expense was included in restructuring and other charges in our condensed consolidated statements of operations. Cash payments upon the exercise of these SARs were $2 million in the six months ended June 30, 2013. The remaining liability for SARs included in the restructuring program was less than $1 million as of June 30, 2013.

Share-based Incentive Compensation

We record share-based incentive compensation expense in selling, general and administrative expenses on our condensed consolidated statements of operations with a corresponding credit to additional paid-in capital within stockholders’ equity based on the fair value of the share-based incentive compensation awards at the date of grant. We recognize an expense or credit reflecting the straight-line recognition, net of estimated forfeitures, of the expected cost of the program. For the various performance share unit (“PSU”) awards programs, the cumulative amount accrued to date is adjusted up or down to the extent the expected performance against the targets has improved or worsened for the performance conditions components of the awards.

The following table shows our total share-based incentive compensation expense.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Total share-based incentive compensation expense^(1) (2)	$	7.2	$	5.9	$	14.9	$	10.5

The following table shows the estimated amount of total share-based incentive compensation expense expected to be recognized on a straight-line basis over the remaining respective vesting periods at June 30, 2013.


	2013		2014		2015		2016		Total
Total share-based incentive compensation expense ⁽¹⁾	$	11.0	$	13.2	$	6.9	$	0.3	$	31.4

⁽¹⁾	The amounts included above do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock or the expense or income related to SARS as such contributions are not considered share-based incentive compensation.

⁽²⁾

On February 28, 2013, the Organization and Compensation Committee of our Board of Directors (“O&C Committee”) approved a change in the vesting policy regarding the existing 2011 three-year PSU awards, and the newly granted 2013 three-year PSU awards, for William V. Hickey, our former Chairman and Chief Executive Officer. The approved change will result in the full vesting of the awards, rather than a pro-rata portion vesting as of the date of his retirement (May 16, 2013). Mr. Hickey’s awards will still be subject to the performance metrics stipulated in the plan documents, and will be paid-out in accordance with the original planned timing. As a result of these approved changes, the expense related to these awards will be accelerated and recognized over the applicable service period up until the date of his retirement. We recognized share-based compensation expense related to these awards of $1.3 in the three months ended June 30, 2013 and $2.7 in the six months ended June 30, 2013.

Accumulated Other Comprehensive Loss

Included in stockholders’ equity on our condensed consolidated balance sheets is accumulated other comprehensive loss. Accumulated other comprehensive loss includes unrecognized pension items of $136 million as of June 30, 2013.

In the three months ended June 30, 2013, we reclassified $1 million ($1 million, net of taxes) out of accumulated other comprehensive income to other assets and other liabilities on the condensed consolidated balance sheets. In the six months ended June 30, 2013, we reclassified $8 million ($6 million, net of taxes) out of accumulated other comprehensive income to other assets and other liabilities on the condensed consolidated balance sheets. Also, see Note 15, “Profit Sharing, Retirement Savings Plans and Defined Benefit Plans,” of the Notes to the Consolidated Financial Statements included in our 2012 Annual Report on Form 10-K for additional information related to unrecognized pension items included in accumulated other comprehensive loss.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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-Paragraph 29, 30, 31
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Other Expense, net

6 Months Ended

Jun. 30, 2013

Other Income And Expenses [Abstract]

Other Expense, net

(16) Other Expense, net

The following table provides details of other expense, net:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Interest and dividend income	$	2.3		$	3.1		$	5.5		$	6.6
Net foreign exchange transaction losses		(3.9	)		(6.4	)		(5.6	)		(10.0	)
Settlement agreement and related costs		(0.2	)		(0.1	)		(0.3	)		(0.2	)
Noncontrolling interests		0.4			0.9			0.7			1.6
Other, net		(2.0	)		(3.2	)		(3.5	)		(7.6	)

Other expense, net	$	(3.4	)	$	(5.7	)	$	(3.2	)	$	(9.6	)

Net Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Net Earnings (Loss) Per Common Share

(17) Net Earnings (Loss) Per Common Share

The following table shows the calculation of basic and diluted net earnings (loss) per common share under the two-class method.


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
*Basic Net Earnings (Loss) Per Common Share:*
Numerator
Net earnings (loss) available to common stockholders	$	56.3		$	(13.7	)	$	59.0		$	(19.6	)
Distributed and allocated undistributed net earnings (loss) to non-vested restricted stockholders		(0.2	)		(0.1	)		(0.3	)		(0.2	)

Distributed and allocated undistributed net earnings (loss) to common stockholders		56.1			(13.8	)		58.7			(19.8	)
Distributed net earnings — dividends paid to common stockholders		(25.3	)		(25.1	)		(50.6	)		(50.2	)

Allocation of undistributed net earnings (loss) to common stockholders	$	30.8		$	(38.9	)	$	8.1		$	(70.0	)

Denominator⁽¹⁾
Weighted average number of common shares outstanding — basic		194.8			193.0			194.3			192.4
Basic net earnings (loss) per common share:
Distributed net earnings (loss) to common stockholders	$	0.13		$	0.13		$	0.26		$	0.26
Allocated undistributed net earnings (loss) to common stockholders		0.16			(0.20	)		0.04			(0.36	)

Basic net earnings (loss) per common share:	$	0.29		$	(0.07	)	$	0.30		$	(0.10	)

*Diluted Net Earnings (Loss) Per Common Share:*
Numerator
Distributed and allocated undistributed net earnings (loss) to common stockholders	$	56.1		$	(13.8	)	$	58.7		$	(19.8	)
Add: Allocated undistributed net earnings (loss) to non-vested restricted stockholders		0.1			—			0.1			—
Less: Undistributed net earnings (loss) reallocated to non-vested restricted stockholders		(0.1	)		—			(0.1	)		—

Net earnings (loss) available to common stockholders — diluted	$	56.1		$	(13.8	)	$	58.7		$	(19.8	)

Denominator⁽¹⁾
Weighted average number of common shares outstanding — basic		194.8			193.0			194.3			192.4
Effect of assumed issuance of Settlement agreement shares		18.0			—			18.0			—
Effect of non-vested restricted stock units		0.8			—			0.9			—

Weighted average number of common shares outstanding — diluted		213.6			193.0			213.2			192.4

Diluted net earnings (loss) per common share	$	0.26		$	(0.07	)	$	0.28		$	(0.10	)

⁽¹⁾	In calculating diluted net earnings (loss) per common share for 2012, our diluted weighted average number of common shares outstanding excludes the effect of assumed issuance of shares under the Settlement agreement and non-vested restricted stock units as the effect was anti-dilutive.

PSU Awards

Since the PSU awards include contingently issuable shares that are based on conditions other than earnings or market price, they are included in the diluted weighted average number of common shares outstanding when we meet the performance conditions as of that date. However, in 2012, unvested PSU awards that met the performance conditions as of June 30, 2012 were not included in the diluted weighted average number of common shares outstanding for the three and six months ended June 30, 2012 as the effect was anti-dilutive.

Stock Leverage Opportunity (SLO) Awards

The shares or units associated with the 2013 SLO awards are considered contingently issuable shares and therefore are not included in the basic or diluted weighted average number of common shares outstanding for the three and six months ended June 30, 2013. These shares or units will not be included in the common shares outstanding until the final determination of the amount of annual incentive compensation is made in the first quarter of 2014. Once this determination is made, the shares or units will be included in both the basic and diluted weighted average number of common shares outstanding if the employee is retirement eligible or in the diluted weighted average number of common shares outstanding if the employee is not retirement eligible if the impact to diluted net earnings per common share is dilutive. The numbers of shares or units associated with SLO awards for the three and six months ended June 30, 2013 and 2012 were nominal and, for the three and six months ended June 30, 2012, have not been included in the diluted weighted average number of common shares outstanding as the effect was anti-dilutive.

Organization and Basis of Presentation (Policies)	6 Months Ended
Organization and Basis of Presentation (Policies)	Jun. 30, 2013
Accounting Policies [Abstract]
Organization	*Organization* We are a global leader in food safety and security, facility hygiene and product protection. We serve an array of end markets including food and beverage processing, food service, retail, health care and industrial, commercial and consumer applications. We have widely recognized and inventive brands such as Bubble Wrap^® brand cushioning, Cryovac^® brand food packaging solutions and Diversey^® brand cleaning and hygiene solutions. We conduct substantially all of our business through three wholly-owned subsidiaries, Cryovac, Inc., Sealed Air Corporation (US) and Diversey, Inc. Throughout this report, when we refer to “Sealed Air,” the “Company,” “we,” “our,” or “us,” we are referring to Sealed Air Corporation and all of our subsidiaries, except where the context indicates otherwise. During the fourth quarter of 2012, we began operating under new business divisions for our segment reporting structure. The new segment reporting structure consists of three global business divisions: Food & Beverage, Institutional & Laundry and Protective Packaging, and an “Other” category. See Note 4, “Segments,” for further details of our segment structure.
Basis of Presentation	*Basis of Presentation* Our condensed consolidated financial statements include all of the accounts of the Company and our subsidiaries. We have eliminated all significant intercompany transactions and balances in consolidation. In management’s opinion, all adjustments, consisting only of normal recurring accruals, necessary for a fair presentation of our condensed consolidated balance sheet as of June 30, 2013 and our condensed consolidated statements of operations for the three and six months ended June 30, 2013 and 2012 have been made. The results set forth in our condensed consolidated statements of operations for the three and six months ended June 30, 2013 and in our condensed consolidated statements of cash flows for the six months ended June 30, 2013 are not necessarily indicative of the results to be expected for the full year. All amounts are in millions, except per share amounts, and approximate due to rounding. Some prior period amounts have been reclassified to conform to the current year presentation. These reclassifications, individually and in the aggregate, had no impact on our consolidated financial condition, results of operations and cash flows. During the first quarter of 2013, we identified a misclassification in our December 31, 2012 consolidated balance sheet included in our 2012 Annual Report on Form 10-K. This misclassification, which has been corrected on our December 31, 2012 condensed consolidated balance sheet included in this Form 10-Q, decreased our non-current deferred tax assets and non-current deferred tax liabilities by $105.5 million, decreasing our non-current deferred tax assets from $255.8 million to $150.3 million and decreasing our non-current deferred tax liabilities from $472.5 million to $367.0 million. This misclassification had no impact on our net deferred tax asset balance as of December 31, 2012 and it did not impact our consolidated statements of operations or cash flows. Accordingly, we do not consider this correction to be material to our consolidated financial condition or results of operations. Our condensed consolidated financial statements were prepared in accordance with the interim reporting requirements of the SEC. As permitted under those rules, annual footnotes or other financial information that are normally required by U.S. GAAP, have been condensed or omitted. The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and accompanying notes. Actual results could differ from these estimates. We are responsible for the unaudited condensed consolidated financial statements and notes included in this report. As these are condensed financial statements, they should be read in conjunction with the audited consolidated financial statements and notes included in our 2012 Annual Report on Form 10-K and with the information contained in other publicly-available filings with the SEC. In November 2012, we completed the sale of Diversey G.K. (“Diversey Japan”) (an indirect subsidiary of Sealed Air). The operating results for Diversey Japan were reclassified to discontinued operations, net of tax, on the consolidated statements of operations for the three and six months ended June 30, 2012. Prior year disclosures in the condensed consolidated statement of cash flows and the notes to condensed consolidated financial statements have been revised accordingly. See Note 3, “Divestiture”.
Recently Issued Accounting Standards	Adopted in 2013 In October 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2012-04, Technical Corrections and Improvement, which makes certain technical corrections (i.e., relatively minor corrections and clarifications) and “conforming fair value amendments”. The amendments affect various codification topics and apply to all reporting entities within the scope of those topics. This standard becomes effective for us upon issuance, except for amendments that are subject to transition guidance, which was effective for fiscal periods beginning after December 15, 2012. The adoption of this standard did not have any material effect on our consolidated financial condition or results of operations. In July 2012, the FASB issued ASU No. 2012-02, Testing Indefinite-Lived Intangible Assets for Impairment. This standard update, which amends the guidance on testing indefinite-lived intangible assets, other than goodwill, for impairment, provides companies with the option to first perform a qualitative assessment before performing the two-step quantitative impairment test. If the company determines, on the basis of qualitative factors, that the fair value of the indefinite-lived intangible asset is more likely than not to exceed its carrying amount, then the company would not need to perform the two-step quantitative impairment test. This standard does not revise the requirement to test indefinite-lived intangible assets annually for impairment. This standard was effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption allowed. The adoption of this standard did not have any material effect on our consolidated financial condition or results of operations. In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, which creates new disclosure requirements about the nature of an entity’s rights of offset and related arrangements associated with its financial instruments and derivative instruments. The disclosure requirements are effective for annual reporting periods beginning on or after January 1, 2013, and interim periods therein, with retrospective application required. The new disclosures are designed to make financial statements that are prepared under U.S. GAAP more comparable to those prepared under International Financial Reporting Standards. The adoption of this standard did not have any material effect on our consolidated financial condition or results of operations. In February 2013, the FASB issued ASU 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, a company is required to present either on the statement of operations or in the notes significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. The disclosure requirements are effective for annual reporting periods beginning after December 15, 2012, prospectively. We have included footnote disclosures for the three months and six months ended June 30, 2013. See Note 11, “Derivatives and Hedging Activities and Note 15, “Stockholders’ Equity” for further details. The adoption of this standard did not have any material effect on our consolidated financial condition or results of operations as they are disclosure requirements only. Pending in 2013 In February 2013, the FASB issued ASU 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date. This standard update requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, as the sum of the following: (a) the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and (b) any additional amount the reporting entity expects to pay on behalf of its co-obligors. This standard becomes effective for fiscal years and interim periods within those years beginning after December 15, 2013. This standard update is required to be applied retrospectively to all prior periods presented for those obligations resulting from joint and several liability arrangements that existed at the beginning of the fiscal year of adoption. We are currently evaluating the impact of this standard update on our consolidated financial statements. In March 2013, the FASB issued ASU 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity. This standard update requires an entity to release any cumulative translation adjustment into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. This standard update becomes effective prospectively for fiscal years and interim periods within those years beginning after December 15, 2013. The impact of this standard update on our consolidated financial statements will be based on any future activity that qualifies within this guidance. In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss or a Tax Credit Carryforward Exists. This standard update provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This standard update becomes effective for fiscal years and interim periods within those years beginning after December 15, 2013. The amendment should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. We are currently evaluating the impact of this standard update on our consolidated financial statements. In July 2013, the FASB issued ASU 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. This standard update permits companies to use the Fed Funds Effective Swap Rate as a U.S. benchmark interest rate for hedge accounting purposes, in addition to the U.S. government (UST) and London Interbank Offered Rate. This amendment also removes the restriction on using different benchmark rates for similar hedges. This amendment is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. We are currently evaluating the impact of this standard update on our consolidated financial statements.

Divestiture (Tables)

6 Months Ended

Jun. 30, 2013

Text Block [Abstract]

Operating Results of Discontinued Operations

Summary operating results for this discontinued operation were as follows:


	Three Months Ended June 30, 2012		Six Months Ended June 30, 2012
Net sales	$	79.8	$	152.0

Operating profit	$	11.5	$	16.0

Earnings before income tax provision	$	11.5	$	15.4
Income tax provision		4.5		6.0

Net earnings from discontinued operations, net of tax	$	7.0	$	9.4

Segments (Tables)

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Net Sales, Depreciation and Amortization and Operating Profit of Reportable Segments

The following table shows net sales, depreciation and amortization and operating profit by our segment reporting structure:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Net sales
Food & Beverage	$	946.5		$	922.6		$	1,849.0		$	1,817.7
Institutional & Laundry		569.8			560.5			1,082.7			1,070.7
Protective Packaging		394.3			390.8			780.9			782.1
Other Category		50.9			50.7			101.7			99.5

Total	$	1,961.5		$	1,924.6		$	3,814.3		$	3,770.0

Depreciation and amortization⁽¹⁾
Food & Beverage	$	32.3		$	36.5		$	66.0		$	77.9
Institutional & Laundry		32.5			32.4			66.3			63.1
Protective Packaging		10.2			9.5			20.4			19.2
Other Category		7.6			2.8			10.4			5.5

Total	$	82.6		$	81.2		$	163.1		$	165.7

Operating profit
Food & Beverage	$	103.7		$	69.8		$	196.5		$	152.1
Institutional & Laundry		37.2			20.9			28.7			20.2
Protective Packaging		44.0			46.7			90.7			97.6
Other Category		(4.0	)		(1.0	)		(4.6	)		(1.6	)

Total segments and other		180.9			136.4			311.3			268.3
Costs related to the acquisition and integration of Diversey		0.1			1.7			0.5			3.5
Restructuring and other charges⁽²⁾		11.9			26.3			11.7			73.3

Total	$	168.9		$	108.4		$	299.1		$	191.5

(1)

(2)	Restructuring and other charges by our segment reporting structure were as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Food & Beverage	$	4.9	$	20.0	$	2.7	$	55.7
Institutional & Laundry		5.7		2.7		4.9		7.6
Protective Packaging		1.2		3.4		4.0		9.6
Other Category		0.1		0.2		0.1		0.4

Total	$	11.9	$	26.3		11.7	$	73.3

Inventories (Tables)

6 Months Ended

Jun. 30, 2013

Inventory Disclosure [Abstract]

Inventories and Reduction of Certain Inventories to LIFO Basis

The following table details our inventories and the reduction of certain inventories to a LIFO basis:


	June 30, 2013			December 31, 2012
Inventories (at FIFO, which approximates replacement value):
Raw materials	$	139.3		$	128.4
Work in process		132.3			117.0
Finished goods		597.4			542.4

Subtotal (at FIFO)		869.0			787.8
Reduction of certain inventories to LIFO basis		(49.6	)		(51.4	)

Total	$	819.4		$	736.4

Property and Equipment, net (Tables)

6 Months Ended

Jun. 30, 2013

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment, Net

The following table details our property and equipment, net:


	June 30,			December 31,
	2013			2012
Land and improvements	$	136.2		$	142.5
Buildings		724.7			715.4
Machinery and equipment		2,483.2			2,548.9
Other property and equipment		172.6			154.2
Construction-in-progress		76.5			85.7

		3,593.2			3,646.7
Accumulated depreciation and amortization		(2,453.1	)		(2,433.9	)

Property and equipment, net	$	1,140.1		$	1,212.8

Interest Cost Capitalized and Depreciation and Amortization Expense for Property and Equipment

The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment:


	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Interest cost capitalized	$	1.3	$	1.2	$	2.7	$	2.2

Depreciation and amortization expense for property and equipment	$	43.7	$	41.5	$	84.3	$	88.7

Goodwill and Identifiable Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2013

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Goodwill Balances by Segment Reporting Structure


	Gross Carrying Value at December 31, 2012		Accumulated Impairment			Carrying Value at December 31, 2012		Impact of Foreign Currency Translation Six Months Ended June 30, 2013			Gross Carrying Value at June 30, 2013		Accumulated Impairment			Carrying Value at June 30, 2013
Food & Beverage	$	837.7	$	(208.0	)	$	629.7	$	(15.9	)	$	821.8	$	(208.0	)	$	613.8
Institutional & Laundry		2,026.1		(883.0	)		1,143.1		(40.5	)		1,985.6		(883.0	)		1,102.6
Protective Packaging		1,372.7		—			1,372.7		(0.4	)		1,372.3		—			1,372.3
Other category		45.9		—			45.9		(1.0	)		44.9		—			44.9

Total	$	4,282.4	$	(1,091.0	)	$	3,191.4	$	(57.8	)	$	4,224.6	$	(1,091.0	)	$	3,133.6

Summarize of Identifiable Intangible Assets with Definite and Indefinite Useful Lives

The following tables summarize our identifiable intangible assets with definite and indefinite useful lives. As of June 30, 2013, there were no impairment indicators present.


	June 30, 2013										December 31, 2012
	Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net		Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net
Customer relationships	$	958.8	$	(146.6	)		(148.9	)	$	663.3	$	978.1	$	(112.7	)	$	(148.9	)	$	716.5
Trademarks and trade names		881.9		(0.5	)		(630.2	)		251.2		882.3		(0.9	)		(630.2	)		251.2
Technology		244.3		(102.8	)		(22.2	)		119.3		243.5		(79.1	)		(22.2	)		142.2
Contracts		44.4		(18.4	)		—			26.0		44.6		(14.8	)		—			29.8

Total	$	2,129.4	$	(268.3	)	$	(801.3	)	$	1,059.8	$	2,148.5	$	(207.5	)	$	(801.3	)	$	1,139.7

Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at June 30, 2013:


2013	$	54.6
2014		109.7
2015		84.0
2016		81.7
2017		78.7
Thereafter		400.0

Total	$	808.7

- Definition

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

+ References + Details

Restructuring Activities (Tables)

6 Months Ended

Jun. 30, 2013

2013 Earnings Quality Improvement Program [Member]

Associated Costs and Related Restructuring Charges

The associated costs and related restructuring charges for EQIP in the three and six months ended June 30, 2013 are included in the table below:


	Three and Six Months Ended
	June 30,2013
Associated costs	$	1.8
Restructuring charges		16.7

Total	$	18.5

Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining

The restructuring accrual, spending and other activity for the six months ended June 30, 2013 and the accrual balance remaining at June 30, 2013 related to this program were as follows:


EQIP restructuring accrual at December 31, 2012	$	—
Accrual and accrual adjustments		16.7
Cash payments during 2013		(1.9	)
Effect of changes in foreign currency exchange rates		(0.3	)

EQIP restructuring accrual at June 30, 2013	$	14.5

2011-2014 Integration and Optimization Program [Member]

Associated Costs and Related Restructuring Charges

The associated costs and related restructuring charges for IOP in the three and six months ended June 30, 2013 and 2012 are included in the table below:


	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2013			2012		2013			2012
Associated costs	$	3.2		$	1.6	$	8.5		$	7.4
Restructuring charges		(4.8	)		27.1		(5.0	)		74.4

Total	$	(1.6	)	$	28.7	$	3.5		$	81.8

Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining

The restructuring accrual, spending and other activity for the six months ended June 30, 2013 and the accrual balance remaining at June 30, 2013 related to this program were as follows:


IOP restructuring accrual at December 31, 2012	$	88.2
Revision to accrual		(7.7	)
Additional accrual		2.7
Cash payments during 2013		(32.8	)
Effect of changes in foreign currency exchange rates		(1.9	)

IOP restructuring accrual at June 30, 2013	$	48.5

Debt and Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2013

Debt Disclosure [Abstract]

Total Debt Outstanding

Our total debt outstanding consisted of the amounts included in the table below.


	June 30, 2013		December 31, 2012
Short-term borrowings	$	76.3	$	39.2
Current portion of long-term debt⁽¹⁾		153.6		1.8

Total current debt		229.9		41.0

5.25% Senior Notes due April 2023		425.0		—
12% Senior Notes due February 2014⁽¹⁾		—		153.4
Term Loan A Facility due October 2016, less unamortized lender fees of $12.0 in 2013 and $15.4 in 2012⁽²⁾		783.5		843.9
7.875% Senior Notes due June 2017, less unamortized discount of $5.5 in 2012⁽³⁾		—		394.5
Term Loan B Facility due October 2018, less unamortized lender fees of $9.7 in 2013 and $10.7 in 2012, and unamortized discount of $14.2 in 2013 and $15.6 in 2012 ⁽²⁾		766.5		771.6
8.125% Senior Notes due September 2019		750.0		750.0
6.50% Senior Notes due December 2020		425.0		425.0
8.375% Senior Notes due September 2021		750.0		750.0
6.875% Senior Notes due July 2033, less unamortized discount of $1.4 in 2013 and 2012		448.6		448.6
Other		3.1		3.8

Total long-term debt, less current portion		4,351.7		4,540.8

Total debt⁽⁴⁾	$	4,581.6	$	4,581.8

⁽¹⁾	These notes were reclassified to current portion of long-term debt as of June 30, 2013.

⁽²⁾	In the six months ended June 30, 2013, we prepaid a portion of our 2014 Term Loan A ($51 million) and Term Loan B ($4 million) installments.

⁽³⁾	During 2013, we purchased all of our outstanding $400 million 7.875% Senior Notes due 2017. See below for further discussion.

⁽⁴⁾	The weighted average interest rate on our outstanding debt was 6.2% as of June 30, 2013 and 6.4% as of December 31, 2012.

Lines of Credit


	June 30, 2013		December 31, 2012
Used lines of credit	$	76.3	$	39.2
Unused lines of credit⁽¹⁾		948.9		989.5

Total available lines of credit	$	1,025.2	$	1,028.7

Available lines of credit — committed⁽¹⁾	$	700.5	$	700.5
Available lines of credit — uncommitted		324.7		328.2

Total available lines of credit	$	1,025.2	$	1,028.7

Accounts receivable securitization program — committed⁽²⁾	$	206.0	$	112.0

(1)	Includes a $700 million revolving senior secured credit facility that expires October 2016.

(2)	See Note 8, “Accounts Receivable Securitization Programs,” for further details.

Other Lines of Credit

The following table details our other lines of credit.


	June 30, 2013			December 31, 2012
Available lines of credit	$	325.2		$	328.3
Unused lines of credit		248.9			289.0
Weighted average interest rate		12.7	%		10.2	%

Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

The following table details the fair value of our derivative instruments included on our condensed consolidated balance sheets.


	Fair Value of Asset				Fair Value of (Liability)
	Derivatives ⁽¹⁾				Derivatives ⁽¹⁾
	June 30,		December 31,		June 30,			December 31,
	2013		2012		2013			2012
Derivatives designated as hedging instruments:
Foreign currency forward contracts (cash flow hedges)	$	4.7	$	0.5	$	(0.3	)	$	(0.8	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		26.2		4.9		(11.4	)		(29.6	)

Total	$	30.9	$	5.4	$	(11.7	)	$	(30.4	)

⁽¹⁾	Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the condensed consolidated balance sheets.

Effect of Derivative Instruments on Consolidated Statements of Operations

The following table details the effect of our derivative instruments on our condensed consolidated statements of operations.


	Amount of Gain (Loss) Recognized in Earnings on Derivatives⁽¹⁾
	Three Months Ended June 30,					Six Months Ended June 30,
	2013		2012			2013			2012
Derivatives designated as hedging instruments:
Interest rate swaps	$	—	$	0.3		$	—		$	0.4
Foreign currency forward contracts		0.5		0.1			0.2			(0.1	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		3.6		(3.0	)		(16.2	)		(5.6	)

Total	$	4.1	$	(2.6	)	$	(16.0	)	$	(5.3	)

⁽¹⁾	Amounts recognized on the foreign currency forward contracts were included in other expense, net. Amounts recognized on the interest rate swaps were included in interest expense in the condensed consolidated statements of operations.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

Fair Value Measurements and Other Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following table details the fair value hierarchy of our financial instruments.


June 30, 2013	Total Fair Value		Level 1		Level 2		Level 3
Cash equivalents	$	327.7	$	—	$	327.7	$	—
Derivative financial instruments net asset:
Foreign currency forward contracts	$	19.2	$	—	$	19.2	$	—

December 31, 2012	Total Fair Value		Level 1		Level 2		Level 3
Cash equivalents	$	210.0	$	—	$	210.0	$	—
Derivative financial instruments net liability:
Foreign currency forward contracts	$	25.0	$	—	$	25.0	$	—

Carrying Amounts and Estimated Fair Values of Debt

The table below shows the carrying amounts and estimated fair values of our total debt:


	June 30, 2013				December 31, 2012
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
12% Senior Notes due February 2014	$	151.9	$	160.0	$	153.4	$	172.0
Term Loan A Facility due October 2016⁽¹⁾		783.5		783.5		843.9		843.9
7.875% Senior Notes due June 2017		—		—		394.5		424.8
Term Loan B Facility due October 2018⁽¹⁾		766.5		766.5		771.6		771.6
8.125% Senior Notes due September 2019		750.0		830.2		750.0		846.8
6.50% Senior Notes due December 2020		425.0		449.3		425.0		463.1
8.375% Senior Notes due September 2021		750.0		843.0		750.0		858.5
5.25% Senior Notes due April 2023		425.0		410.0		—		—
6.875% Senior Notes due July 2033		448.6		429.2		448.6		421.7
Other foreign loans		80.5		80.3		44.2		44.0
Other domestic loans		0.6		0.5		0.6		0.6

Total debt	$	4,581.6	$	4,752.5	$	4,581.8	$	4,847.0

⁽¹⁾	Includes borrowings denominated in currencies other than U.S. dollars.

- Definition

The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 6
-Footnote 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 33
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Total Share-based Compensation Expense

The following table shows our total share-based incentive compensation expense.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Total share-based incentive compensation expense^(1) (2)	$	7.2	$	5.9	$	14.9	$	10.5

⁽¹⁾	The amounts included above do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock or the expense or income related to SARS as such contributions are not considered share-based incentive compensation.

⁽²⁾

Estimated Amount of Total Share-based Compensation Expense


	2013		2014		2015		2016		Total
Total share-based incentive compensation expense ⁽¹⁾	$	11.0	$	13.2	$	6.9	$	0.3	$	31.4

⁽¹⁾	The amounts included above do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock or the expense or income related to SARS as such contributions are not considered share-based incentive compensation.

Other Expense, net (Tables)

6 Months Ended

Jun. 30, 2013

Other Income And Expenses [Abstract]

Details of Other Expense, Net

The following table provides details of other expense, net:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Interest and dividend income	$	2.3		$	3.1		$	5.5		$	6.6
Net foreign exchange transaction losses		(3.9	)		(6.4	)		(5.6	)		(10.0	)
Settlement agreement and related costs		(0.2	)		(0.1	)		(0.3	)		(0.2	)
Noncontrolling interests		0.4			0.9			0.7			1.6
Other, net		(2.0	)		(3.2	)		(3.5	)		(7.6	)

Other expense, net	$	(3.4	)	$	(5.7	)	$	(3.2	)	$	(9.6	)

Net Earnings (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Net Earnings (Loss) Per Common Share

The following table shows the calculation of basic and diluted net earnings (loss) per common share under the two-class method.


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
*Basic Net Earnings (Loss) Per Common Share:*
Numerator
Net earnings (loss) available to common stockholders	$	56.3		$	(13.7	)	$	59.0		$	(19.6	)
Distributed and allocated undistributed net earnings (loss) to non-vested restricted stockholders		(0.2	)		(0.1	)		(0.3	)		(0.2	)

Distributed and allocated undistributed net earnings (loss) to common stockholders		56.1			(13.8	)		58.7			(19.8	)
Distributed net earnings — dividends paid to common stockholders		(25.3	)		(25.1	)		(50.6	)		(50.2	)

Allocation of undistributed net earnings (loss) to common stockholders	$	30.8		$	(38.9	)	$	8.1		$	(70.0	)

Denominator⁽¹⁾
Weighted average number of common shares outstanding — basic		194.8			193.0			194.3			192.4
Basic net earnings (loss) per common share:
Distributed net earnings (loss) to common stockholders	$	0.13		$	0.13		$	0.26		$	0.26
Allocated undistributed net earnings (loss) to common stockholders		0.16			(0.20	)		0.04			(0.36	)

Basic net earnings (loss) per common share:	$	0.29		$	(0.07	)	$	0.30		$	(0.10	)

*Diluted Net Earnings (Loss) Per Common Share:*
Numerator
Distributed and allocated undistributed net earnings (loss) to common stockholders	$	56.1		$	(13.8	)	$	58.7		$	(19.8	)
Add: Allocated undistributed net earnings (loss) to non-vested restricted stockholders		0.1			—			0.1			—
Less: Undistributed net earnings (loss) reallocated to non-vested restricted stockholders		(0.1	)		—			(0.1	)		—

Net earnings (loss) available to common stockholders — diluted	$	56.1		$	(13.8	)	$	58.7		$	(19.8	)

Denominator⁽¹⁾
Weighted average number of common shares outstanding — basic		194.8			193.0			194.3			192.4
Effect of assumed issuance of Settlement agreement shares		18.0			—			18.0			—
Effect of non-vested restricted stock units		0.8			—			0.9			—

Weighted average number of common shares outstanding — diluted		213.6			193.0			213.2			192.4

Diluted net earnings (loss) per common share	$	0.26		$	(0.07	)	$	0.28		$	(0.10	)

(1)	In calculating diluted net earnings (loss) per common share for 2012, our diluted weighted average number of common shares outstanding excludes the effect of assumed issuance of shares under the Settlement agreement and non-vested restricted stock units as the effect was anti-dilutive.

Organization and Basis of Presentation - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Dec. 31, 2012 USD ($) Reporting_Unit	Jun. 30, 2013 USD ($) Subsidiary
Organization And Basis Of Presentation [Line Items]
Number of wholly-owned subsidiaries \| Subsidiary		3
Number of global business divisions \| Reporting_Unit	3
Non-current deferred tax assets	$ 150.3	$ 153.2
Non-current deferred tax liabilities	367.0	$ 309.6
Restatement Adjustment [Member]
Organization And Basis Of Presentation [Line Items]
Misclassification adjustment of non-current deferred tax assets	105.5
Misclassification adjustment of non-current deferred tax liabilities	105.5
Previously Reported [Member]
Organization And Basis Of Presentation [Line Items]
Non-current deferred tax assets	255.8
Non-current deferred tax liabilities	$ 472.5

- Definition

Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).

+ References + Details

Divestiture - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2012	Dec. 31, 2012
Discontinued Operations And Disposal Groups [Abstract]
Sale of Diversey Japan	$ 323
Transaction costs	10
Cash proceeds, net after transaction costs	$ 313
Pre-tax gain on the sale of operations		$ 211
Net gain on the sale of operations		$ 179

Divestiture - Operating Results of Discontinued Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Discontinued Operations And Disposal Groups [Abstract]
Net sales		$ 79.8		$ 152.0
Operating profit		11.5		16.0
Earnings before income tax provision		11.5		15.4
Income tax provision		4.5		6.0
Net earnings from discontinued operations, net of tax		$ 7.0		$ 9.4

- Definition

Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References + Details

- Definition

Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b),(c)
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=18498875&loc=d3e38679-109324

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.12)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.14)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 15
-Article 5

+ Details

Segments - Additional Information (Detail)	3 Months Ended
Segments - Additional Information (Detail)	Dec. 31, 2012 Reporting_Unit
Segment Reporting Information [Line Items]
Number of global business divisions	3
Number of prior business units	7
New segment reporting structure [Member]
Segment Reporting Information [Line Items]
Number of global business divisions	3

Segments - Net Sales, Depreciation and Amortization and Operating Profit of Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Operating Statistics [Line Items]
Net sales	$ 1,961.5	$ 1,924.6	$ 3,814.3	$ 3,770.0
Depreciation and amortization	82.6	81.2	163.1	165.7
Operating profit	180.9	136.4	311.3	268.3
Costs related to the acquisition and integration of Diversey	0.1	1.7	0.5	3.5
Restructuring and other charges	11.9	26.3	11.7	73.3
Operating profit	168.9	108.4	299.1	191.5
Food & Beverage [Member]
Operating Statistics [Line Items]
Net sales	946.5	922.6	1,849.0	1,817.7
Depreciation and amortization	32.3	36.5	66.0	77.9
Operating profit	103.7	69.8	196.5	152.1
Restructuring and other charges	4.9	20.0	2.7	55.7
Institutional & Laundry [Member]
Operating Statistics [Line Items]
Net sales	569.8	560.5	1,082.7	1,070.7
Depreciation and amortization	32.5	32.4	66.3	63.1
Operating profit	37.2	20.9	28.7	20.2
Restructuring and other charges	5.7	2.7	4.9	7.6
Protective Packaging [Member]
Operating Statistics [Line Items]
Net sales	394.3	390.8	780.9	782.1
Depreciation and amortization	10.2	9.5	20.4	19.2
Operating profit	44.0	46.7	90.7	97.6
Restructuring and other charges	1.2	3.4	4.0	9.6
Other Category [Member]
Operating Statistics [Line Items]
Net sales	50.9	50.7	101.7	99.5
Depreciation and amortization	7.6	2.8	10.4	5.5
Operating profit	(4.0)	(1.0)	(4.6)	(1.6)
Restructuring and other charges	$ 0.1	$ 0.2	$ 0.1	$ 0.4

Segments - Net Sales, Depreciation and Amortization and Operating Profit of Reportable Segments (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Operating Statistics [Line Items]
Depreciation and amortization	$ 75.4	$ 75.3	$ 148.2	$ 155.2
Amortization of share-based incentive compensation expense	7.2	5.9	14.9	10.5
Restructuring and other charges	11.9	26.3	11.7	73.3
Food & Beverage [Member]
Operating Statistics [Line Items]
Restructuring and other charges	4.9	20.0	2.7	55.7
Institutional & Laundry [Member]
Operating Statistics [Line Items]
Restructuring and other charges	5.7	2.7	4.9	7.6
Protective Packaging [Member]
Operating Statistics [Line Items]
Restructuring and other charges	1.2	3.4	4.0	9.6
Other Category [Member]
Operating Statistics [Line Items]
Restructuring and other charges	$ 0.1	$ 0.2	$ 0.1	$ 0.4

- Definition

The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.

+ References + Details

Inventories - Inventories and Reduction of Certain Inventories to LIFO Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Inventory Disclosure [Abstract]
Raw materials	$ 139.3	$ 128.4
Work in process	132.3	117.0
Finished goods	597.4	542.4
Subtotal (at FIFO)	869.0	787.8
Reduction of certain inventories to LIFO basis	(49.6)	(51.4)
Total	$ 819.4	$ 736.4

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Inventory Disclosure [Abstract]
U.S. inventories determined by LIFO method	$ 137	$ 104

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Property Plant And Equipment [Abstract]
Land and improvements	$ 136.2	$ 142.5
Buildings	724.7	715.4
Machinery and equipment	2,483.2	2,548.9
Other property and equipment	172.6	154.2
Construction-in-progress	76.5	85.7
Property and equipment, gross	3,593.2	3,646.7
Accumulated depreciation and amortization	(2,453.1)	(2,433.9)
Property and equipment, net	$ 1,140.1	$ 1,212.8

- Definition

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References + Details

Property and Equipment, net - Interest Cost Capitalized and Depreciation and Amortization Expense for Property and Equipment (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Property Plant And Equipment [Abstract]
Interest cost capitalized	$ 1.3	$ 1.2	$ 2.7	$ 2.2
Depreciation and amortization expense for property and equipment	$ 43.7	$ 41.5	$ 84.3	$ 88.7

Goodwill and Identifiable Intangible Assets - Summary of Goodwill Balances by Segment Reporting Structure (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Goodwill [Line Items]
Impact of Foreign Currency Translation	$ (57.8)
Gross Carrying Value	4,224.6	$ 4,282.4
Accumulated Impairment	(1,091.0)	(1,091.0)
Carrying Value	3,133.6	3,191.4
Food & Beverage [Member]
Goodwill [Line Items]
Impact of Foreign Currency Translation	(15.9)
Gross Carrying Value	821.8	837.7
Accumulated Impairment	(208.0)	(208.0)
Carrying Value	613.8	629.7
Institutional & Laundry [Member]
Goodwill [Line Items]
Impact of Foreign Currency Translation	(40.5)
Gross Carrying Value	1,985.6	2,026.1
Accumulated Impairment	(883.0)	(883.0)
Carrying Value	1,102.6	1,143.1
Protective Packaging [Member]
Goodwill [Line Items]
Impact of Foreign Currency Translation	(0.4)
Gross Carrying Value	1,372.3	1,372.7
Accumulated Impairment
Carrying Value	1,372.3	1,372.7
Other Category [Member]
Goodwill [Line Items]
Impact of Foreign Currency Translation	(1.0)
Gross Carrying Value	44.9	45.9
Accumulated Impairment
Carrying Value	$ 44.9	$ 45.9

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Goodwill and Identifiable Intangible Assets - Summarize of Identifiable Intangible Assets with Definite and Indefinite Useful Lives (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Definite And Indefinite Lived Intangible Assets By Major Class [Line Items]
Gross Carrying Value	$ 2,129.4	$ 2,148.5
Accumulated Amortization	(268.3)	(207.5)
Accumulated Impairment	(801.3)	(801.3)
Net Carrying Value	1,059.8	1,139.7
Customer relationships [Member]
Definite And Indefinite Lived Intangible Assets By Major Class [Line Items]
Gross Carrying Value	958.8	978.1
Accumulated Amortization	(146.6)	(112.7)
Accumulated Impairment	(148.9)	(148.9)
Net Carrying Value	663.3	716.5
Trademarks and trade names [Member]
Definite And Indefinite Lived Intangible Assets By Major Class [Line Items]
Gross Carrying Value	881.9	882.3
Accumulated Amortization	(0.5)	(0.9)
Accumulated Impairment	(630.2)	(630.2)
Net Carrying Value	251.2	251.2
Technology [Member]
Definite And Indefinite Lived Intangible Assets By Major Class [Line Items]
Gross Carrying Value	244.3	243.5
Accumulated Amortization	(102.8)	(79.1)
Accumulated Impairment	(22.2)	(22.2)
Net Carrying Value	119.3	142.2
Contracts [Member]
Definite And Indefinite Lived Intangible Assets By Major Class [Line Items]
Gross Carrying Value	44.4	44.6
Accumulated Amortization	(18.4)	(14.8)
Accumulated Impairment
Net Carrying Value	$ 26.0	$ 29.8

Goodwill and Identifiable Intangible Assets - Remaining Estimated Future Amortization Expense (Detail) $ in Millions	Jun. 30, 2013 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2013	$ 54.6
2014	109.7
2015	84.0
2016	81.7
2017	78.7
Thereafter	400.0
Total	$ 808.7

Accounts Receivable Securitization Programs - Additional Information (Detail) € in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2013 USD ($)	Jun. 30, 2013 EUR (€)	Dec. 31, 2012 USD ($)
Accounts Receivable Securitization Program [Line Items]
Maximum purchase limit for receivable interests under accounts receivable securitization program	$ 125.0
Level of eligible assets available under accounts receivable securitization program	Less than $125 million
Amount available for accounts receivable securitization program	$ 206.0		$ 112.0
European Accounts Receivable Securitization Program [Member]
Accounts Receivable Securitization Program [Line Items]
Maximum purchase limit for receivable interests under accounts receivable securitization program	124.0	€ 95
Amount available for accounts receivable securitization program	93.0	€ 71
Amount outstanding under accounts receivable securitization program	0.0		0.0
U.S. Accounts Receivable Securitization Program [Member]
Accounts Receivable Securitization Program [Line Items]
Amount available for accounts receivable securitization program	113.0
Amount outstanding under accounts receivable securitization program	$ 0.0		$ 0.0

Restructuring Activities - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013 USD ($) Employees	Jun. 30, 2012 USD ($)	Jun. 30, 2013 USD ($) Employees	Jun. 30, 2012 USD ($)
2013 Earnings Quality Improvement Program [Member]
Restructuring Cost and Reserve [Line Items]
Expected completed date of restructuring program			Dec. 31, 2015
Expected cash payments in 2013	$ 65		$ 65
Restructuring expected accrual to pay	13		13
Restructuring expected accrual remaining to pay	$ 2		$ 2
2013 Earnings Quality Improvement Program [Member] \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in headcount, employees \| Employees	400		400
Expected associated cost related to restructuring			$ 180
Other costs			5
Capital expenditure related to restructuring and associated activities			55
2013 Earnings Quality Improvement Program [Member] \| Minimum [Member] \| Severance and termination benefits [Member]
Restructuring Cost and Reserve [Line Items]
Expected associated cost related to restructuring			90
2013 Earnings Quality Improvement Program [Member] \| Minimum [Member] \| Facility relocation and closures [Member]
Restructuring Cost and Reserve [Line Items]
Expected associated cost related to restructuring			$ 85
2013 Earnings Quality Improvement Program [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Reduction in headcount, employees \| Employees	500		500
Expected associated cost related to restructuring			$ 200
Other costs			10
Capital expenditure related to restructuring and associated activities			70
2013 Earnings Quality Improvement Program [Member] \| Maximum [Member] \| Severance and termination benefits [Member]
Restructuring Cost and Reserve [Line Items]
Expected associated cost related to restructuring			95
2013 Earnings Quality Improvement Program [Member] \| Maximum [Member] \| Facility relocation and closures [Member]
Restructuring Cost and Reserve [Line Items]
Expected associated cost related to restructuring			$ 95
2011-2014 Integration and Optimization Program [Member]
Restructuring Cost and Reserve [Line Items]
Expected completed date of restructuring program			Dec. 31, 2014
Restructuring expected accrual to pay	$ 43		$ 43
Restructuring expected accrual remaining to pay	6		6
Asset impairment charges				$ 5
Cumulative cash payments	143		143
2011-2014 Integration and Optimization Program [Member] \| Stock Appreciation Rights (SARs) [Member]
Restructuring Cost and Reserve [Line Items]
Amount of stock appreciation rights that were issued	$ 1	$ 1	$ 1	$ 8

Restructuring Activities - Associated Costs and Related Restructuring Charges (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 11.9	$ 26.3	$ 11.7	$ 73.3
2013 Earnings Quality Improvement Program [Member]
Restructuring Cost and Reserve [Line Items]
Associated costs	1.8		1.8
Restructuring charges	16.7		16.7
Total	18.5		18.5
2011-2014 Integration and Optimization Program [Member]
Restructuring Cost and Reserve [Line Items]
Associated costs	3.2	1.6	8.5	7.4
Restructuring charges	(4.8)	27.1	(5.0)	74.4
Total	$ (1.6)	$ 28.7	$ 3.5	$ 81.8

Restructuring Activities - Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2013 USD ($)
2013 Earnings Quality Improvement Program [Member]
Restructuring Cost and Reserve [Line Items]
Accrual and accrual adjustments	$ 16.7
Cash payments during 2013	(1.9)
Effect of changes in foreign currency exchange rates	(0.3)
Restructuring accrual at June 30, 2013	14.5
2011-2014 Integration and Optimization Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring accrual at December 31, 2012	88.2
Revision to accrual	(7.7)
Accrual and accrual adjustments	2.7
Cash payments during 2013	(32.8)
Effect of changes in foreign currency exchange rates	(1.9)
Restructuring accrual at June 30, 2013	$ 48.5

- Definition

Amount of any reversal and other adjustment made during the period to the amount of a previously accrued liability for a specified type of restructuring cost, excluding adjustments for costs incurred during the period, costs settled during the period, and foreign currency translation adjustments.

+ References + Details

Debt and Credit Facilities - Total Debt Outstanding (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Short-term borrowings	$ 76.3	$ 39.2
Current portion of long-term debt	153.6	1.8
Total current debt	229.9	41.0
Credit facility amount outstanding	76.3	39.2
Other	3.1	3.8
Total long-term debt, less current portion	4,351.7	4,540.8
Total debt	4,581.6	4,581.8
Term Loan A Facility due October 2016 [Member]
Debt Instrument [Line Items]
Credit facility amount outstanding	783.5	843.9
Term Loan B Facility due October 2018 [Member]
Debt Instrument [Line Items]
Credit facility amount outstanding	766.5	771.6
5.25% Senior Notes due April 2023 [Member]
Debt Instrument [Line Items]
Senior Notes	425.0
12% Senior Notes due February 2014 [Member]
Debt Instrument [Line Items]
Senior Notes		153.4
7.875% Senior Notes due June 2017 [Member]
Debt Instrument [Line Items]
Senior Notes		394.5
8.125% Senior Notes due September 2019 [Member]
Debt Instrument [Line Items]
Senior Notes	750.0	750.0
6.50% Senior Notes due December 2020 [Member]
Debt Instrument [Line Items]
Senior Notes	425.0	425.0
8.375% Senior Notes due September 2021 [Member]
Debt Instrument [Line Items]
Senior Notes	750.0	750.0
6.875% Senior Notes due July 2033 [Member]
Debt Instrument [Line Items]
Senior Notes	$ 448.6	$ 448.6

Debt and Credit Facilities - Total Debt Outstanding (Parenthetical) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Mar. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Payments of long-term debt	$ 455.6	$ 58.8
Weighted average interest rate	6.20%			6.40%
5.25% Senior Notes due April 2023 [Member]
Debt Instrument [Line Items]
Debt interest rate	5.25%		5.25%	5.25%
12% Senior Notes due February 2014 [Member]
Debt Instrument [Line Items]
Debt interest rate	12.00%			12.00%
7.875% Senior Notes due June 2017 [Member]
Debt Instrument [Line Items]
Debt interest rate	7.875%			7.875%
Unamortized discount				$ 5.5
Repurchase aggregate principal amount	$ 400.0
8.125% Senior Notes due September 2019 [Member]
Debt Instrument [Line Items]
Debt interest rate	8.125%			8.125%
6.50% Senior Notes due December 2020 [Member]
Debt Instrument [Line Items]
Debt interest rate	6.50%			6.50%
8.375% Senior Notes due September 2021 [Member]
Debt Instrument [Line Items]
Debt interest rate	8.375%			8.375%
6.875% Senior Notes due July 2033 [Member]
Debt Instrument [Line Items]
Debt interest rate	6.875%			6.875%
Unamortized discount	$ 1.4			$ 1.4
Term Loan A Facility [Member]
Debt Instrument [Line Items]
Payments of long-term debt	51.0
Term Loan B Facility due October 2018 [Member]
Debt Instrument [Line Items]
Payments of long-term debt	4.0
Term Loan A Facility due October 2016 [Member]
Debt Instrument [Line Items]
Unamortized lender fees	12.0			15.4
Term Loan B Facility due October 2018 [Member]
Debt Instrument [Line Items]
Unamortized lender fees	9.7			10.7
Unamortized discount	$ 14.2			$ 15.6

Debt and Credit Facilities - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Debt Disclosure [Line Items]
Recognized net pre-tax loss	$ (0.1)			$ (32.4)
Short-term borrowings	$ 76.3			$ 76.3		$ 39.2
5.25% Senior Notes due April 2023 [Member]
Debt Disclosure [Line Items]
Aggregate principal amount		$ 425.0
Debt interest rate	5.25%	5.25%		5.25%		5.25%
Senior notes maturity date				Apr. 01, 2023
Frequency of interest payments				Interest is payable on April 1 and October 1 of each year, commencing October 1, 2013.
7.875% Senior Notes due June 2017 [Member]
Debt Disclosure [Line Items]
Debt interest rate		7.875%
Aggregate repurchase price of senior notes		$ 431.0
Premium paid on redemption of debt percentage		6.00%
Early redemption		$ 400.0
Premium paid on redemption of debt		23.0
Accrued interest paid on redemption of debt		8.0
Recognized net pre-tax loss		$ 32.0

Debt and Credit Facilities - Lines of Credit (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Line Of Credit [Line Items]
Used lines of credit	$ 76.3	$ 39.2
Unused lines of credit	948.9	989.5
Total available lines of credit	1,025.2	1,028.7
Accounts receivable securitization program - committed	206.0	112.0
Committed line of credit facilities [Member]
Line Of Credit [Line Items]
Total available lines of credit	700.5	700.5
Uncommitted line of credit facilities [Member]
Line Of Credit [Line Items]
Total available lines of credit	$ 324.7	$ 328.2

Debt and Credit Facilities - Lines of Credit (Parenthetical) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Line Of Credit [Line Items]
Available credit facility	$ 948.9	$ 989.5
Revolving Senior Secured Credit Facility [Member]
Line Of Credit [Line Items]
Available credit facility	$ 700.0
Credit facility expiration date	Oct. 31, 2016

Debt and Credit Facilities - Other Lines of Credit (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Line Of Credit [Line Items]
Available lines of credit	$ 1,025.2	$ 1,028.7
Unused lines of credit	$ 948.9	$ 989.5
Weighted average interest rate	6.20%	6.40%
Other Lines of Credit [Member]
Line Of Credit [Line Items]
Available lines of credit	$ 325.2	$ 328.3
Unused lines of credit	$ 248.9	$ 289.0
Weighted average interest rate	12.70%	10.20%

Derivatives and Hedging Activities - Additional Information (Detail) - Derivative	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Derivative Instruments, Gain (Loss) [Line Items]
Number of foreign exchange options outstanding	0	0
Number of interest rate and currency swap agreements outstanding	0	0
Foreign exchange option [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Maximum original maturity period of foreign currency forward contracts	12 months

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	$ 30.9	$ 5.4
Fair Value of (Liability) Derivatives	(11.7)	(30.4)
Foreign currency forward contracts [Member] \| Designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	4.7	0.5
Fair Value of (Liability) Derivatives	(0.3)	(0.8)
Foreign currency forward contracts [Member] \| Not designated as hedging instruments [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	26.2	4.9
Fair Value of (Liability) Derivatives	$ (11.4)	$ (29.6)

Derivatives and Hedging Activities - Effect of Derivative Instruments on Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 4.1	$ (2.6)	$ (16.0)	$ (5.3)
Designated as hedging instruments [Member] \| Interest rate swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives		0.3		0.4
Designated as hedging instruments [Member] \| Foreign currency forward contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	0.5	0.1	0.2	(0.1)
Not designated as hedging instruments [Member] \| Foreign currency forward contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 3.6	$ (3.0)	$ (16.2)	$ (5.6)

- Definition

The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.

+ References + Details

Fair Value Measurements and Other Financial Instruments - Fair Value Measurements (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 327.7	$ 210.0
Foreign currency forward contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments net asset/liability	19.2	25.0
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents
Level 1 [Member] \| Foreign currency forward contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments net asset/liability
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	327.7	210.0
Level 2 [Member] \| Foreign currency forward contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments net asset/liability	19.2	25.0
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents
Level 3 [Member] \| Foreign currency forward contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments net asset/liability

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Company may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months.

+ References + Details

Fair Value Measurements and Other Financial Instruments - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Millions	Jun. 30, 2013	Dec. 31, 2012
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Other foreign loans, Fair Value	$ 80.3	$ 44.0
Other domestic loans, Fair Value	0.5	0.6
Fair Value	4,752.5	4,847.0
Credit facility amount outstanding, Carrying Value	76.3	39.2
Other foreign loans, Carrying Value	80.5	44.2
Other domestic loans, Carrying Value	0.6	0.6
Carrying Amount	4,581.6	4,581.8
12% Senior Notes due February 2014 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Senior Notes, Fair Value	160.0	172.0
Senior Notes, Carrying Value		153.4
Senior Notes, Carrying Value	151.9
Term Loan A Facility due October 2016 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Credit facility amount outstanding, Fair Value	783.5	843.9
Credit facility amount outstanding, Carrying Value	783.5	843.9
7.875% Senior Notes due June 2017 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Senior Notes, Fair Value		424.8
Senior Notes, Carrying Value		394.5
Term Loan B Facility due October 2018 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Credit facility amount outstanding, Fair Value	766.5	771.6
Credit facility amount outstanding, Carrying Value	766.5	771.6
8.125% Senior Notes due September 2019 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Senior Notes, Fair Value	830.2	846.8
Senior Notes, Carrying Value	750.0	750.0
6.50% Senior Notes due December 2020 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Senior Notes, Fair Value	449.3	463.1
Senior Notes, Carrying Value	425.0	425.0
8.375% Senior Notes due September 2021 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Senior Notes, Fair Value	843.0	858.5
Senior Notes, Carrying Value	750.0	750.0
5.25% Senior Notes due April 2023 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Senior Notes, Fair Value	410.0
Senior Notes, Carrying Value	425.0
6.875% Senior Notes due July 2033 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Senior Notes, Fair Value	429.2	421.7
Senior Notes, Carrying Value	$ 448.6	$ 448.6

Fair Value Measurements and Other Financial Instruments - Carrying Amounts and Estimated Fair Values of Debt (Parenthetical) (Detail)	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012
12% Senior Notes due February 2014 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Debt interest rate	12.00%		12.00%
7.875% Senior Notes due June 2017 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Debt interest rate	7.875%		7.875%
8.125% Senior Notes due September 2019 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Debt interest rate	8.125%		8.125%
6.50% Senior Notes due December 2020 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Debt interest rate	6.50%		6.50%
8.375% Senior Notes due September 2021 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Debt interest rate	8.375%		8.375%
5.25% Senior Notes due April 2023 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Debt interest rate	5.25%	5.25%	5.25%
6.875% Senior Notes due July 2033 [Member]
Fair Value And Carrying Value By Balance Sheet Grouping [Line Items]
Debt interest rate	6.875%		6.875%

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Income Taxes [Line Items]
Income tax benefit rate	25.10%		15.00%	20.30%
Income tax provision (benefit)	$ 18.9	$ 2.5	$ 10.4	$ (7.4)
Settlement of tax disputes		$ 5.0		$ 10.0
Foreign [Member]
Income Taxes [Line Items]
Payments made to a foreign jurisdiction	4.0		14.0
Interest paid to foreign jurisdiction			$ 2.0

Commitments and Contingencies - Additional Information (Detail) $ / shares in Units, € in Millions, $ in Millions	1 Months Ended			6 Months Ended		12 Months Ended
	May 25, 2010 EUR (€)	Mar. 31, 2007 USD ($) shares	Feb. 28, 2002 USD ($)	Jun. 30, 2013 USD ($)	Jun. 30, 2013 EUR (€)	Dec. 31, 2002 USD ($)	Dec. 31, 2012 USD ($)	Sep. 19, 2008 Trust	Dec. 05, 2002 $ / shares
Commitments And Contingencies Disclosure [Abstract]
Settlement agreement pre-tax charge						$ 850.0
Charge covering a cash payment that will be required to make under Settlement agreement upon the effectiveness of an appropriate plan of reorganization						$ 513.0
Percentage of annual interest that accrues on Settlement agreement charges from December 21, 2002 to the date of payment						5.50%
Accrued interest compounded annually included in Settlement agreement and related accrued interest				$ 388.0			$ 364.0
Non - cash charges at fair value market						$ 322.0
Original number of shares expect to be issued under Settlement agreement \| shares		9,000,000
Adjustment of company's common stock that is charged and expected to be issued under settlement agreement		To eighteen million shares due to our two-for-one stock split in March 2007
Original number of shares expected to be issued under Settlement agreement, adjusted \| shares		18,000,000
Amount per common share pre-split \| $ / shares									$ 35.72
Amount per common share post-split \| $ / shares									$ 17.86
Par value of common stock reserved for issuance related to the Settlement agreement		$ 0.9				0.9
Excess of the aggregate fair value market over aggregated par value of common shares						321.0
Legal and related fees related to Settlement agreement						$ 16.0
Establishment of asbestos trust under Section 524(g) \| Trust								2
Voting Declaration with respect to the PI Settlement Plan				According to the Voting Declaration, with respect to each class of claims designated as impaired by Grace, the PI Settlement Plan was approved by holders of at least two-thirds in amount and more than one-half in number (or for classes voting for purposes of Section 524(g) of the Bankruptcy Code, at least 75% in number) of voted claims	According to the Voting Declaration, with respect to each class of claims designated as impaired by Grace, the PI Settlement Plan was approved by holders of at least two-thirds in amount and more than one-half in number (or for classes voting for purposes of Section 524(g) of the Bankruptcy Code, at least 75% in number) of voted claims
Minimum percentage of holders required to approve PI settlement under bankruptcy code				75.00%	75.00%
Charges accrued for potential liabilities			$ 172.0
Repayment of grant monies paid	€ 5.1			$ 13.0	€ 10.1

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended			6 Months Ended
	Jul. 11, 2013	Apr. 11, 2013	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared per common share		$ 0.13		$ 0.13
Estimated dividend payment			$ 25.0			$ 25.0
Common stock outstanding			195,847,923			195,847,923		194,557,669
Common stock dividends, cash paid			$ 25.0	$ 25.0
Compensation expense			0.1		$ (9.1)	$ 18.1	$ 2.7
Unrecognized pension items			136.3			136.3		$ 142.3
Reclassification from accumulated other comprehensive income, before tax			1.0			8.0
Reclassification from accumulated other comprehensive income, net of tax			$ 1.0			$ 6.0
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared per common share	$ 0.13
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
SARs outstanding			1,900,000			1,900,000
Weighted average remaining vesting life						1 year
Stock Appreciation Rights (SARs) [Member] \| General and administrative expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 1.0			$ 18.0	3.0
Reduction in SARs expense					$ (9.0)
Payment due to exercise SARs						28.0	$ 22.0
Liability for SARs			32.0			32.0
Stock Appreciation Rights (SARs) [Member] \| General and administrative expense [Member] \| Other Current Liabilities [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for SARs			8.0			8.0
Stock Appreciation Rights (SARs) [Member] \| General and administrative expense [Member] \| Other Noncurrent Liabilities [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for SARs			24.0			24.0
Stock Appreciation Rights (SARs) [Member] \| Restructuring charges [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			1.0			1.0
Payment due to exercise SARs						2.0
Liability for SARs			$ 1.0			$ 1.0

Stockholders' Equity - Total Share-based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Total share-based incentive compensation expense	$ 7.2	$ 5.9	$ 14.9	$ 10.5

Stockholders' Equity - Estimated Amount of Total Share-based Compensation Expense (Detail) $ in Millions	Jun. 30, 2013 USD ($)
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
2013	$ 11.0
2014	13.2
2015	6.9
2016	0.3
Total	$ 31.4

Stockholders' Equity - Total Share-based Compensation Expense (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 7.2	$ 5.9	$ 14.9	$ 10.5
2013 WVH Incentive Compensation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1.3		$ 2.7

Other Expense, net - Details of Other Expense, Net (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Other Income And Expenses [Abstract]
Interest and dividend income	$ 2.3	$ 3.1	$ 5.5	$ 6.6
Net foreign exchange transaction losses	(3.9)	(6.4)	(5.6)	(10.0)
Settlement agreement and related costs	(0.2)	(0.1)	(0.3)	(0.2)
Noncontrolling interests	0.4	0.9	0.7	1.6
Other, net	(2.0)	(3.2)	(3.5)	(7.6)
Other expense, net	$ (3.4)	$ (5.7)	$ (3.2)	$ (9.6)

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References + Details

Net Earnings (Loss) Per Common Share - Calculation of Basic and Diluted Net Earnings (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Numerator
Net earnings (loss) available to common stockholders	$ 56.3	$ (13.7)	$ 59.0	$ (19.6)
Distributed and allocated undistributed net earnings (loss) to non-vested restricted stockholders	(0.2)	(0.1)	(0.3)	(0.2)
Distributed and allocated undistributed net earnings (loss) to common stockholders	56.1	(13.8)	58.7	(19.8)
Distributed net earnings - dividends paid to common stockholders	(25.3)	(25.1)	(50.6)	(50.2)
Allocation of undistributed net earnings (loss) to common stockholders	$ 30.8	$ (38.9)	$ 8.1	$ (70.0)
Denominator
Weighted average number of common shares outstanding - basic	194.8	193.0	194.3	192.4
Basic net earnings (loss) per common share:
Distributed net earnings (loss) to common stockholders	$ 0.13	$ 0.13	$ 0.26	$ 0.26
Allocated undistributed net earnings (loss) to common stockholders	0.16	(0.20)	0.04	(0.36)
Net earnings (loss) per common share-basic	$ 0.29	$ (0.07)	$ 0.30	$ (0.10)
Numerator
Distributed and allocated undistributed net earnings (loss) to common stockholders	$ 56.1	$ (13.8)	$ 58.7	$ (19.8)
Add: Allocated undistributed net earnings (loss) to non-vested restricted stockholders	0.1		0.1
Less: Undistributed net earnings (loss) reallocated to non-vested restricted stockholders	(0.1)		(0.1)
Net earnings (loss) available to common stockholders - diluted	$ 56.1	$ (13.8)	$ 58.7	$ (19.8)
Denominator
Weighted average number of common shares outstanding - basic	194.8	193.0	194.3	192.4
Effect of assumed issuance of Settlement agreement shares	18.0		18.0
Effect of non-vested restricted stock units	0.8		0.9
Weighted average number of common shares outstanding - diluted	213.6	193.0	213.2	192.4
Diluted net earnings (loss) per common share	$ 0.26	$ (0.07)	$ 0.28	$ (0.10)