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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2014	Jul. 31, 2014
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2014
Document Fiscal Year Focus	2014
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		212,022,616

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 356.5	$ 992.4
Trade receivables, net of allowance for doubtful accounts of $33.2 in 2014 and $31.4 in 2013	961.0	1,126.4
Other receivables	371.1	147.9
Inventories	783.5	688.4
Deferred taxes	100.9	377.7
Prepaid expenses and other current assets	314.4	84.9
Total current assets	2,887.4	3,417.7
Property and equipment, net	1,099.7	1,134.5
Goodwill	3,123.1	3,114.6
Intangible assets, net	961.2	1,016.9
Non-current deferred taxes	80.6	63.1
Other non-current assets	380.3	387.4
Total assets	8,532.3	9,134.2
Current liabilities:
Short-term borrowings	644.0	81.6
Current portion of long-term debt	69.8	201.5
Accounts payable	592.0	524.5
Deferred taxes	9.7	8.1
Settlement agreement and related accrued interest		925.1
Accrued restructuring costs	54.3	69.6
Other current liabilities	847.7	890.4
Total current liabilities	2,217.5	2,700.8
Long-term debt, less current portion	4,054.9	4,116.4
Non-current deferred taxes	231.6	278.6
Other non-current liabilities	612.7	647.9
Total liabilities	7,116.7	7,743.7
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2014 and 2013	0.0	0.0
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 224,595,650 in 2014 and 205,707,580 in 2013; shares outstanding; 211,995,301 in 2014 and 196,198,672 in 2013	22.5	20.6
Common stock reserved for issuance related to Settlement agreement, $0.10 par value per share, no shares in 2014 and 18,000,000 shares in 2013		1.8
Additional paid-in capital	1,721.7	1,695.3
Retained earnings	352.6	276.4
Common stock in treasury, 12,600,349 shares in 2014 and 9,508,908 shares in 2013	(427.2)	(327.6)
Accumulated other comprehensive loss, net of taxes:
Unrecognized pension items	(143.8)	(146.2)
Cumulative translation adjustment	(111.3)	(134.4)
Unrealized (losses) gains on derivative instruments	(0.2)	3.2
Total accumulated other comprehensive loss, net of taxes	(255.3)	(277.4)
Total parent company stockholders' equity	1,414.3	1,389.1
Noncontrolling interests	1.3	1.4
Total stockholders' equity	1,415.6	1,390.5
Total liabilities and stockholders' equity	$ 8,532.3	$ 9,134.2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Statement Of Financial Position [Abstract]
Trade receivables, net of allowance for doubtful accounts	$ 33.2	$ 31.4
Preferred stock, par value per share	$ 0.10	$ 0.10
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 0.10	$ 0.10
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	224,595,650	205,707,580
Common stock, shares outstanding	211,995,301	196,198,672
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	0	18,000,000
Common stock in treasury, shares	12,600,349	9,508,908

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]
Net sales	$ 1,973.6	$ 1,937.4	$ 3,801.3	$ 3,766.3
Cost of sales	1,293.6	1,278.3	2,480.3	2,495.0
Gross profit	680.0	659.1	1,321.0	1,271.3
Selling, general and administrative expenses	459.8	449.9	907.2	884.6
Amortization expense of intangible assets acquired	31.2	31.4	62.4	63.3
Stock appreciation rights expense	1.7	0.1	2.2	18.1
Costs related to the acquisition and integration of Diversey	0.9		1.8	0.4
Restructuring and other charges	14.1	11.9	20.2	11.7
Operating profit	172.3	165.8	327.2	293.2
Interest expense	(73.9)	(89.7)	(152.4)	(180.5)
Foreign currency exchange (losses) related to Venezuelan subsidiaries	0.2	(0.5)	(14.8)	(13.6)
Gain from Claims Settlement	0.0		21.1
Loss on debt redemption	(0.4)	(0.1)	(0.8)	(32.4)
Other (expense), net	(4.8)	(3.3)	(4.4)	(3.0)
Earnings from continuing operations before income tax provision	93.4	72.2	175.9	63.7
Income tax provision	33.1	17.9	43.8	8.7
Net earnings from continuing operations	60.3	54.3	132.1	55.0
Net earnings from discontinued operations	0.0	2.0	0.0	4.0
Net earnings available to common stockholders	$ 60.3	$ 56.3	$ 132.1	$ 59.0
Basic:
Continuing operations	$ 0.28	$ 0.28	$ 0.63	$ 0.28
Discontinued operations	0.00	0.01	0.00	0.02
Net earnings per common share-basic	0.28	0.29	0.63	0.30
Diluted:
Continuing operations	0.28	0.25	0.61	0.26
Discontinued operations	0.00	0.01	0.00	0.02
Net earnings per common share-diluted	0.28	0.26	0.61	0.28
Dividends per common share	$ 0.13	$ 0.13	$ 0.26	$ 0.26
Weighted average number of common shares outstanding:
Basic	213.5	194.8	210.1	194.3
Diluted	214.7	213.6	214.6	213.2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]
Net earnings available to common stockholders	$ 60.3	$ 56.3	$ 132.1	$ 59.0
Other comprehensive income (loss), net of taxes:
Recognition of deferred pension items, net of taxes of $(0.3) for the three months ended June 30, 2014, $(0.2) for the three months ended June 30, 2013, zero for the six months ended June 30, 2014 and $(1.7) for the six months ended June 30, 2013	0.6	0.9	2.4	6.0
Foreign currency translation adjustments	20.7	(95.2)	23.1	(117.1)
Unrealized (losses) gains on derivative instruments, net of taxes of $0.4 for the three months ended June 30, 2014, $1.0 for the three months ended June 30, 2013, $1.2 for the six months ended June 30, 2014 and $1.5 for the six months ended June 30, 2013	(1.7)	3.2	(3.4)	3.3
Comprehensive income (loss), net of taxes	$ 79.9	$ (34.8)	$ 154.2	$ (48.8)

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Statement Of Income And Comprehensive Income [Abstract]
Recognition of deferred pension items, taxes	$ (0.3)	$ (0.2)	$ 0.0	$ (1.7)
Unrealized (losses) gains on derivative instruments, taxes	$ 0.4	$ 1.0	$ 1.2	$ 1.5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Statement Of Cash Flows [Abstract]
Net earnings available to common stockholders from continuing operations	$ 132.1	$ 55.0
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities from continuing operations:
Depreciation and amortization	138.1	146.4
Share-based incentive compensation	26.4	14.9
Profit sharing expense	19.0	19.9
Costs related to the acquisition and integration of Diversey	1.8	0.4
Amortization of senior debt related items and other	4.2	9.8
Non-cash change in forward contracts	(4.5)	4.8
Loss on debt redemption	0.8	32.4
Impairment on equity method investment	5.9
Assets impairment	4.2
Provisions for bad debt	3.6	6.5
Provisions for inventory obsolescence	5.6	4.0
Gain from Claims Settlement	(21.1)
Deferred taxes, net	7.0	(42.4)
Net loss (gain) on disposals of property and equipment and other	0.2	(0.6)
Changes in operating assets and liabilities:
Trade receivables, net	(56.1)	(74.1)
Inventories	(99.6)	(114.9)
Other assets	(17.0)	(62.7)
Accounts payable	67.2	88.3
Settlement agreement and related accrued interest	(929.7)	24.1
Other liabilities	(50.4)	(51.8)
Net cash (used in) provided by operating activities from continuing operations	(762.3)	60.0
Cash flows from investing activities from continuing operations:
Capital expenditures for property and equipment	(55.1)	(50.8)
Proceeds from sales of property and equipment	1.2	7.2
Other investing activities	(0.1)	0.3
Net cash used in investing activities from continuing operations	(54.0)	(43.3)
Cash flows from financing activities from continuing operations:
Net proceeds from short-term borrowings	562.0	41.7
Payments of long-term debt	(199.8)	(455.6)
Proceeds from long-term debt		425.0
Dividends paid on common stock	(56.0)	(50.9)
Acquisition of common stock for tax withholding obligations under our 2005 contingent stock plan	(2.8)	(3.9)
Repurchase of common stock	(130.0)
Payments of debt issuance costs		(7.7)
Payments for debt extinguishment costs		(26.2)
Net cash provided by (used in) financing activities from continuing operations	173.4	(77.6)
Effect of foreign currency exchange rate changes on cash and cash equivalents	7.0	19.4
Net change in cash and cash equivalents from continuing operations	(635.9)	(41.5)
Net cash used in operating activities from discontinued operations		2.4
Net cash used in investing activities from discontinued operations		(0.4)
Net cash used in financing activities from discontinued operations	0.0	0.0
Net change in cash and cash equivalents from discontinued operations		2.0
Cash and cash equivalents:
Balance, beginning of period	992.4	679.6
Net change during the period	(635.9)	(39.5)
Balance, end of period	356.5	640.1
Supplemental Cash Flow Information:
Interest payments, net of amounts capitalized	563.1	141.6
Income tax payments	41.2	56.0
Stock appreciation rights payments (less amounts included in restructuring payments)	17.0	27.8
Restructuring payments	49.9	45.0
Non-cash items:
Transfers of shares of our common stock from treasury for our 2013 and 2012 profit-sharing plan contributions	33.2	$ 18.6
Transfer of shares of our common stock reserved as part of the funding of the Settlement agreement	$ 1.8

Organization and Basis of Presentation	6 Months Ended
Organization and Basis of Presentation	Jun. 30, 2014
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, healthcare and industrial, and commercial and consumer applications. Our focus is on achieving quality sales growth through leveraging our geographic footprint, technological know-how and leading market positions to bring measurable, sustainable value to our customers, employees and investors. 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. *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, 2014 and our condensed consolidated statements of operations for the three and six months ended June 30, 2014 and 2013 have been made. The results set forth in our condensed consolidated statements of operations for the three and six months ended June 30, 2014 and in our condensed consolidated statements of cash flows for the six months ended June 30, 2014 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 condensed consolidated financial condition, results of operations and cash flows. 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 Annual Report on Form 10-K for the fiscal year ending December 31, 2013 as filed with the SEC on February 28, 2014 (“2013 Form 10-K”) and with the information contained in other publicly-available filings with the SEC. On December 6, 2013, we completed the sale of our rigid medical packaging business. The operating results for the rigid medical packaging business were reclassified to discontinued operations, net of tax, on the condensed consolidated statements of operations for the three and six months ended June 30, 2013. 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” for further information. Effective as of January 1, 2014, we changed our segment reporting structure. See Note 4, “Segments” for further information.

- Definition

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

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+ Details

Recently Issued Accounting Standards	6 Months Ended
Recently Issued Accounting Standards	Jun. 30, 2014
Accounting Changes And Error Corrections [Abstract]
Recently Issued Accounting Standards	(2) Recently Issued Accounting Standards In April 2014, the FASB issued ASU 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” (“ASU 2014-08”). Under ASU 2014-08, only disposals representing a strategic shift in operations that have a major effect on the Company’s operations and financial results should be presented as discontinued operations. Additionally, ASU 2014-08 requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The amendments in ASU 2014-08 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. However, ASU 2014-08 should not be applied to a component that is classified as held for sale before the effective date even if the component is disposed of after the effective date. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. The effects of ASU 2014-08 will depend on any future disposals by the Company. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” (“ASU 2014-09”). Previous revenue recognition guidance in U.S. GAAP comprised broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting for economically similar transactions. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principal, five steps are required to be applied. In addition, ASU 2014-09 expands and enhances disclosure requirements which require disclosing sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. This includes both qualitative and quantitative information. The amendments in ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company is currently in the process of evaluating this new standard update and will then be able to determine the potential impact upon adoption of this standard update on its consolidated financial statements. In June 2014, the FASB issued ASU 2014-11, “Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financing, and Disclosures,” which amends the accounting guidance for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings and introduces additional disclosure requirements. The new guidance is effective for annual and interim reporting periods beginning on or after December 15, 2014, and early adoption is not permitted. The Company is currently evaluating the impact of adopting this guidance. In June 2014, the FASB issued ASU 2014-12, “Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period,” (“ASU 2014-12”). ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Prior the issuance of ASU 2014-12, U.S. GAAP did not contain explicit guidance on how to account for those share-based payments. Many reporting entities accounted for performance targets that could be achieved after the requisite service period as performance conditions that affect the vesting of the award and, therefore, did not reflect the performance target in the estimate of the grant-date fair value of the award. Other reporting entities treated those performance targets as nonvesting conditions that affected the grant-date fair value of the award. Sealed Air currently treats performance targets that affect vesting as a performance condition and as such, it is not included in the grant-date fair value. Therefore, the impact upon adoption would not be material. The amendments in ASU 2014-12 are effective for fiscal years and interim periods within those years, beginning after December 15, 2015. Earlier application is permitted.

- 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.

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+ Details

Divestiture

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Divestiture

(3) Divestiture

On December 6, 2013, we completed the sale of the rigid medical packaging business to a private equity firm, Mason Wells Buyout Fund III, L.P. for gross proceeds of $125 million, including certain purchase price adjustments. Net proceeds were $122 million. We recorded a pre-tax gain on the sale of $40 million ($23 million net of tax) which is included in net earnings in the consolidated statement of operations for the year ended December 31, 2013.

The rigid medical packaging business was included in our Other Category and was comprised of: Nelipak Holdings, located in the Netherlands and Ireland, Alga Plastics, located in the U.S. and ATE located in Costa Rica.

The results of the rigid medical packaging business are presented as discontinued operations, net of tax, in the condensed consolidated statements of operations for the three months and six months ended June 30, 2013 and cash flows and related disclosures and, as such, have been excluded from both continuing operations and segment results for all periods presented. The operating results of the retained portion of the previously reported Medical Applications business continue to be part of our Other Category.

Following is selected financial information included in net earnings from discontinued operations:


	Three Months Ended June 30, 2013		Six Months Ended June 30, 2013
Net sales	$	24.2	$	48.1

Operating profit	$	3.1	$	5.9

Earnings before income tax provision	$	3.0	$	5.7
Income tax provision		1.0		1.7

Net earnings from discontinued operations, net of tax	$	2.0	$	4.0

Segments

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segments

(4) Segments

Effective as of January 1, 2014, we changed our segment reporting structure in order to reflect the way management now makes operating decisions and manages the growth and profitability of the business. This change corresponds with management’s current approach of allocating costs and resources and assessing the performance of our segments. We report our segment information in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification Topic 280, “Segment Reporting,” (“FASB ASC Topic 280”). There has been no change in our total condensed consolidated financial condition or results of operations previously reported as a result of the change in our segment structure. There were no changes to the reportable segment assets as a result of the change in segment reporting.

As a result, the Company’s new segment reporting structure consists of three reportable segments and an “Other” category and is as follows:

•

Food Care;

•

Diversey Care;

•

Product Care; and

•

Other (includes Corporate, Medical Applications and New Ventures businesses)

The Company’s Food Care, Diversey Care and Product Care segments are considered reportable segments under FASB ASC Topic 280. Our reportable segments are aligned with similar groups of products. Other includes Corporate and the Medical Applications and New Ventures businesses. The Medical Applications and New Ventures businesses were previously included in the Company’s “Other Category.” Corporate which is included in Other includes certain costs that are not allocated to the reportable segments, primarily consisting of unallocated corporate overhead costs, including administrative functions and cost recovery variances not allocated to the reportable segments from global functional expenses.

Other also includes all items the Company categorizes as special or unusual items that are reported on the condensed consolidated statements of operations. These special items primarily consist of restructuring and other associated costs, expenses related to stock appreciation rights (“SARs”), which were issued in connection with the acquisition of Diversey in 2011, losses on debt redemptions and foreign currency exchange gains/losses related to Venezuelan subsidiaries.

As of January 1, 2014, the Company also changed the segment performance measure in which the chief operating decision maker (“CODM”), the Company’s Chief Executive Officer, assesses segment performance and makes allocation decisions by segment from operating profit (a U.S. GAAP financial measure) to Adjusted EBITDA (a non-U.S. GAAP financial measure). Adjusted EBITDA is defined as Earnings before Interest Expense, Taxes, Depreciation and Amortization, adjusted to exclude the impact of special items. See “Use of Non-U.S. GAAP Information” above for further information of our use of non-U.S. GAAP measures.

We allocate and disclose depreciation and amortization expense to our segments, although property and equipment, net is not allocated to the segment assets, nor is depreciation and amortization included in the segment performance metric Adjusted EBITDA. We also disclose restructuring and other charges by segment, although it is not included in the segment performance metric Adjusted EBITDA since restructuring and other charges is categorized as a special item as discussed above. The accounting policies of the reportable segments and Other are the same as those applied to the condensed consolidated financial statements.

The changes in the Company’s segment structure and segment performance measure better provides the CODM with information to assess segment performance and to make resource and allocation decisions, as the new segment structure and performance measure reflect the current management of our businesses. Accordingly, the new measure will also assist our investors by providing them with a better understanding of the segment so that the user can make a more informed decision about the Company, which is consistent with FASB ASC Topic 280.

The following tables show net sales and Adjusted EBITDA by our segment reporting structure:


	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
Net Sales:
Food Care	$	962.1		$	947.0		$	1,866.4		$	1,850.1
As a % of Total Company net sales		48.7	%		48.9	%		49.1	%		49.1	%
Diversey Care		581.3			570.0			1,086.4			1,082.9
As a % of Total Company net sales		29.5	%		29.4	%		28.6	%		28.8	%
Product Care		408.7			394.8			802.5			782.0
As a % of Total Company net sales		20.7	%		20.4	%		21.1	%		20.8	%

Total Reportable Segments Net Sales		1,952.1			1,911.8			3,755.3			3,715.0
Other		21.5			25.6			46.0			51.3

Total Company Net Sales	$	1,973.6		$	1,937.4		$	3,801.3		$	3,766.3


Adjusted EBITDA:
Food Care	$	159.4		$	148.2		$	318.9		$	293.9
Adjusted EBITDA Margin		16.6	%		15.6	%		17.1	%		15.9	%
Diversey Care		72.3			73.3			116.8			115.9
Adjusted EBITDA Margin		12.4	%		12.9	%		10.8	%		10.7	%
Product Care		70.8			61.3			140.9			123.9
Adjusted EBITDA Margin		17.3	%		15.5	%		17.6	%		15.8	%

Total Reportable Segments Adjusted EBITDA		302.5			282.8			576.6			533.7
Other		(18.4	)		(20.6	)		(40.3	)		(40.1	)

Non-U.S. GAAP Total Company Adjusted EBITDA	$	284.1		$	262.2		$	536.3		$	493.6

Adjusted EBITDA Margin		14.4	%		13.5	%		14.1	%		13.1	%

The following table shows a reconciliation of Non-U.S. GAAP Total Company Adjusted EBITDA to U.S. GAAP net earnings from continuing operations:


	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013

Non-U.S. GAAP Total Company Adjusted EBITDA	$	284.1		$	262.2		$	536.3		$	493.6
Depreciation and amortization ⁽¹⁾		(81.6	)		(81.8	)		(164.4	)		(161.3	)
Special items ⁽²⁾:
Write-down of non-strategic assets included in depreciation and amortization		—			5.0			(0.1	)		5.0
Restructuring and other charges⁽³⁾		(14.1	)		(11.9	)		(20.2	)		(11.7	)
Other restructuring associated costs included in cost of sales and selling general and administrative expenses		(10.8	)		(10.7	)		(15.4	)		(16.6	)
SARs		(1.7	)		(0.1	)		(2.2	)		(18.1	)
Costs related to the acquisition and integration of Diversey		(0.9	)		—			(1.8	)		(0.4	)
Foreign currency exchange (losses) related to Venezuelan subsidiaries		0.2			(0.5	)		(14.8	)		(13.6	)
Loss on debt redemption		(0.4	)		(0.1	)		(0.8	)		(32.4	)
Gain from Claims Settlement in 2014 and related cost		(0.5	)		(0.2	)		20.6			(0.3	)
Other expense, net		(7.0	)		—			(8.9	)		—
Interest expense		(73.9	)		(89.7	)		(152.4	)		(180.5	)
Income tax provision		33.1			17.9			43.8			8.7

U.S. GAAP net earnings from continuing operations	$	60.3		$	54.3		$	132.1		$	55.0

⁽¹⁾	Depreciation and amortization including share-based incentive compensation expense by segment is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Food Care	$	27.1	$	29.2	$	59.1	$	59.4
Diversey Care		29.8		33.4		62.1		68.1
Product Care		9.9		9.7		20.5		19.4

Total reportable segments		66.8		72.3		141.7		146.9
Other		14.8		9.5		22.7		14.4

Total Company depreciation and amortization	$	81.6	$	81.8	$	164.4	$	161.3

⁽²⁾	Includes items that were considered unusual or special items. See “Non-U.S. GAAP information” above for further information.

⁽³⁾	Restructuring and other charges by segment were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Food Care	$	7.0	$	4.9	$	11.1	$	3.5
Diversey Care		3.4		5.7		3.8		4.9
Product Care		3.5		1.2		5.0		3.2

Total reportable segments		13.9		11.8		19.9		11.6
Other		0.2		0.1		0.3		0.1

Total Company restructuring and other charges	$	14.1	$	11.9	$	20.2	$	11.7

Allocation of Goodwill and Identifiable Intangible Assets to Reportable Segments

Our management views goodwill and identifiable intangible assets as corporate assets, 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 goodwill impairment review, which we do during the fourth quarter of the year. There was no change to the allocation of goodwill by reporting unit as a result of the change in our reportable segment structure discussed above. See Note 7, “Goodwill and Identifiable Intangible Assets,” for the allocation of goodwill and identifiable intangible assets and the changes in their balances in the six months ended June 30, 2014 by our segment reporting 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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-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

+ Details

Inventories

6 Months Ended

Jun. 30, 2014

Inventory Disclosure [Abstract]

Inventories

(5) Inventories

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


	June 30, 2014			December 3 2013

Inventories (at FIFO, which approximates replacement value):
Raw materials	$	116.6		$	116.6
Work in process		127.0			110.9
Finished goods		590.1			514.5

Subtotal (at FIFO)		833.7			742.0
Reduction of certain inventories to LIFO basis		(50.2	)		(53.6	)

Total	$	783.5		$	688.4

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 $122 million at June 30, 2014 and $101 million at December 31, 2013.

Property and Equipment, net

6 Months Ended

Jun. 30, 2014

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, 2014			December 31, 2013
Land and improvements	$	126.3		$	135.8
Buildings		734.9			729.6
Machinery and equipment		2,500.6			2,488.4
Other property and equipment		170.1			164.8
Construction-in-progress		114.2			107.1

Property and equipment, gross		3,646.1			3,625.7
Accumulated depreciation and amortization		(2,546.4	)		(2,491.2	)

Property and equipment, net	$	1,099.7		$	1,134.5

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,
	2014		2013		2014		2013
Interest cost capitalized	$	1.2	$	1.3	$	2.5	$	2.7

Depreciation and amortization expense for property and equipment	$	38.5	$	43.1	$	75.6	$	83.1

Goodwill and Identifiable Intangible Assets

6 Months Ended

Jun. 30, 2014

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 segment reporting structure. See Note 4, “Segments” for further details of our new segment 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, 2014, we did not identify any changes in circumstances that would indicate the carrying value of goodwill may not be recoverable.


	Carrying Value at December 31, 2013		Accumulated Impairment			Carrying Value at December 31, 2013		Impact of Foreign Currency Translation Six Months Ended June 30, 2014		Carrying Value at June 30, 2014		Accumulated Impairment			Carrying Value at June 30, 2014
Food Care	$	833.7	$	(208.0	)	$	625.7	$	5.8	$	839.5	$	(208.0	)	$	631.5
Diversey Care		1,994.1		(883.0	)		1,111.1		2.2		1,996.3		(883.0	)		1,113.3
Product Care		1,372.8		—			1,372.8		0.2		1,373.0		0.0			1,373.0
Other		5.0		—			5.0		0.3		5.3		0.0			5.3

Total	$	4,205.6	$	(1,091.0	)	$	3,114.6	$	8.5	$	4,214.1	$	(1,091.0	)	$	3,123.1

Identifiable Intangible Assets

The following tables summarize our identifiable intangible assets with definite and indefinite useful lives. We have determined that substantially all of the trademarks and trade names included below had indefinite useful lives as of June 30, 2014. As of June 30, 2014, there were no impairment indicators present.


	June 30, 2014										December 31, 2013
	Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net		Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net
Customer relationships	$	955.7	$	(198.2	)		(148.9	)	$	608.6	$	961.3	$	(171.2	)	$	(148.9	)	$	641.2
Trademarks and trade names		881.5		(0.1	)		(630.2	)		251.2		881.5		(0.1	)		(630.2	)		251.2
Technology		258.2		(152.8	)		(22.2	)		83.2		252.6		(128.0	)		(22.2	)		102.4
Contracts		44.3		(26.1	)		—			18.2		44.0		(21.9	)		—			22.1

Total	$	2,139.7	$	(377.2	)	$	(801.3	)	$	961.2	$	2,139.4	$	(321.2	)	$	(801.3	)	$	1,016.9

The following table shows the remaining estimated future amortization expense at June 30, 2014:


Year	Amount
2014	$	53.3
2015		88.7
2016		84.8
2017		79.3
2018		70.2
Thereafter		333.8

Total	$	710.1

- 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, 2014
Text Block [Abstract]
Accounts Receivable Securitization Programs	(8) Accounts Receivable Securitization Programs *U.S. Accounts Receivable 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, 2014, 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 three months and six months ended June 30, 2014, the level of eligible assets available under the program was lower than $125 million primarily due to certain required reserves against our receivables. As a result, the amount available to us under the program was $92 million at June 30, 2014. 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 expires annually in September and is renewable. We intend to extend the expiration date of the program in September 2014 for an additional year. *European Accounts Receivable Securitization Program* We and a group of our European subsidiaries maintain an accounts receivable securitization program with a special purpose vehicle, or SPV, two banks and issuers of commercial paper administered by these banks. As of June 30, 2014, the maximum purchase limit for receivable interests was €95 million, ($129 million equivalent at June 30, 2014) subject to availability limits. The terms and provisions of this program are similar to our U.S. program discussed above. As of June 30, 2014, the amount available under this program was €95 million ($129 million equivalent as of June 30, 2014). The European program is structured to be a securitization of certain trade receivables that are originated by certain of our European subsidiaries. We do not have an equity interest in the SPV. However, since we are considered the primary beneficiary of the SPV, it meets the criteria to be classified as a variable interest entity and is included in our condensed consolidated financial statements. Any activity between the participating subsidiaries and the SPV is eliminated in consolidation. Loans from the banks to the SPV are classified as short-term borrowings on our consolidated balance sheet. This program expires annually in February and is renewable. We intend to extend the expiration date of the program in February 2015 for an additional year. *Utilization of Our Accounts Receivable Securitization Programs* Neither programs discussed above qualifies for sale accounting under FASB ASC 860, Transfers and Servicing, and as such, any borrowings are accounted for as secured short-term borrowings on the condensed consolidated balance sheet. Financing costs associated with the programs are recorded as interest expense and other expense. In connection with the funding of the payment of the Settlement agreement on February 3, 2014, we utilized both our U.S. and European programs. During the first six months of 2014, we utilized $88 million available to us under the U.S. program and €95 million ($129 million equivalent as of June 30, 2014) available to us under the European program. The total amount of borrowings under the programs was $217 million and the trade receivables that serve as collateral for these borrowings were reclassified from trade receivables, net to other current assets and included in prepaid expenses and other current assets on the condensed consolidated balance sheet as of June 30, 2014 in accordance with FASB ASC 860. The weighted average interest rate for these borrowings was 1.22% at June 30, 2014. We continue to service the trade receivables supporting the programs, and the banks are permitted to re-pledge this collateral. Total interest expense related to the use of these programs was approximately $1 million in the six months ended June 30, 2014. Under limited circumstances, the banks and the issuers of commercial paper can end purchases of receivables interests before the above expiration 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, 2014. As of December 31, 2013, we had no amounts outstanding under either the U.S. or European program, and we did not utilize these programs during 2013.

Restructuring Activities

6 Months Ended

Jun. 30, 2014

Restructuring And Related Activities [Abstract]

Restructuring Activities

(9) Restructuring Activities

The following table details our restructuring activities.


	Three Months Ended June 30,													Six Months Ended June 30,
	2014						2013							2014						2013
	IOP		EQIP		Total		IOP			EQIP		Total		IOP		EQIP		Total		IOP			EQIP		Total

Other associated costs	$	0.6	$	7.9	$	8.5	$	3.2		$	1.8	$	5.0	$	2.0	$	10.6	$	12.6	$	8.5		$	1.8	$	10.3
Restructuring charges		4.2		9.9		14.1		(4.8	)		16.7		11.9		5.5		14.7		20.2		(5.0	)		16.7		11.7


Total	$	4.8	$	17.8	$	22.6	$	(1.6	)	$	18.5	$	16.9	$	7.5	$	25.3	$	32.8	$	3.5		$	18.5	$	22.0

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, which is expected to be approximately 750-900 and other costs associated with divisional realignment and connected profitability improvement programs, including severance and termination benefits for employees, expected to be approximately $105 million to $120 million and (ii) costs and capital expenditures associated with incremental supply chain network optimization projects, including facility relocation and closures, expected to be approximately $85 million to $90 million. We currently estimate that we will incur total costs of approximately $190 million to $210 million in connection with implementation of this plan, including capital expenditures of approximately $50 million to $55 million. The plan is expected to be substantially completed by the end of 2016.

The other associated costs included in the table above primarily consist of consulting and rebranding costs incurred in connection with the rebranding of the Company and its divisions, which were included in selling, general and administrative expenses on the condensed consolidated statements of operations for the three and six months ended June 30, 2014. In addition, other associated costs in the three months ended June 30, 2014 include $4 million for an asset impairment in Europe, which was included in cost of sales on the condensed consolidated statements of operations. The restructuring charges included in the table above primarily consist of termination and benefit costs.

The restructuring accrual, spending and other activity in the six months ended June 30, 2014 and the accrual balance remaining at June 30, 2014 related to this program were as follows:


EQIP restructuring accrual at December 31, 2013	$	55.9
Accrual and accrual adjustments		14.7
Cash payments during 2014		(28.0	)
Effect of changes in foreign currency exchange rates		0.3

EQIP restructuring accrual at June 30, 2014	$	42.9

Cumulative cash payments made in connection with this program, including associated costs through June 30, 2014, were $72 million. We expect to pay $38 million of the accrual balance remaining at June 30, 2014 within the next twelve months. This amount is included in accrued restructuring costs on the condensed consolidated balance sheet at June 30, 2014. The majority of the remaining accrual of $5 million is expected to be paid in 2015 with minimal amounts to be paid out in 2016. This amount is included in other liabilities on our condensed consolidated balance sheet at June 30, 2014.

Capital expenditures related to this program were $10 million in the six months ended June 30, 2014 and there were no capital expenditures related to this program in the six months ended June 30, 2013. Capital expenditures mainly relate to supply chain network optimization.

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, (iii) supply chain network optimization, and (iv) certain other capital expenditures. This program is expected to be substantially completed by the end of 2014.

The other 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.

The restructuring accrual, spending and other activity in the six months ended June 30, 2014 and the accrual balance remaining at June 30, 2014 related to this program were as follows:


IOP restructuring accrual at December 31, 2013	$	24.5
Accrual and accrual adjustments		5.5
Cash payments during 2014		(13.3	)
Effect of changes in foreign currency exchange rates		(0.2	)

IOP restructuring accrual at June 30, 2014	$	16.5

Cumulative cash payments made in connection with this program, including associated costs through June 30, 2014, were $205 million. We expect to pay substantially all of the accrual balance remaining at June 30, 2014 within the next twelve months. This amount is included in accrued restructuring costs on the condensed consolidated balance sheet at June 30, 2014.

Capital expenditures related to this program were $1 million in the six months ended June 30, 2014 and $7 million in the six months ended June 30, 2013. Capital expenditures mainly relate to facilities and supply chain network optimization.

Debt and Credit Facilities

6 Months Ended

Jun. 30, 2014

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, 2014		December 31, 2013
Short-term borrowings ⁽¹⁾	$	644.0	$	81.6
Current portion of long-term debt⁽²⁾ ⁽³⁾		69.8		201.5

Total current debt		713.8		283.1
Term Loan A Facility due October 2016, less unamortized lender fees of $6.1 in 2014 and $8.4 in 2013 ⁽²⁾ ⁽³⁾		571.5		634.8
Term Loan B Facility due October 2018, less unamortized lender fees of $6.6 in 2014 and $7.3 in 2013, and unamortized discount of $9.7 in 2014 and $10.8 in 2013⁽³⁾		680.8		681.6
8.125% Senior Notes due September 2019		750.0		750.0
6.50% Senior Notes due December 2020		426.5		424.1
8.375% Senior Notes due September 2021		750.0		750.0
5.25% Senior Notes due April 2023		425.0		425.0
6.875% Senior Notes due July 2033, less unamortized discount of $1.4 in 2014 and 2013		448.6		448.6
Other		2.5		2.3

Total long-term debt, less current portion		4,054.9		4,116.4

Total debt⁽⁴⁾	$	4,768.7	$	4,399.5

⁽¹⁾

2014 primarily includes $217 million of borrowings outstanding under our U.S. and European accounts receivable securitization programs and $305 million of borrowings outstanding under our revolving credit facility, of which we have the intent and ability to repay within twelve months as of June 30, 2014.

⁽²⁾	The Company’s $150 million 12% Senior Notes due February 2014 (“12% Senior Notes”) were included in current portion of long-term debt as of December 31, 2013. We repaid the 12% Senior Notes upon their maturity using cash on hand and committed liquidity.

⁽³⁾	We reclassified $68 million of Term Loan A and Term Loan B installment payments due in the next 12 months to current portion of long term debt as of June 30, 2014.

⁽⁴⁾	The weighted average interest rate on our total outstanding debt was 5.7% as of June 30, 2014 and 6.2% as of December 31, 2013.

Amended and Restated Senior Secured Credit Facilities

On July 25, 2014, the Company entered into a second restatement agreement (the “Second Restatement Agreement”) whereby its senior secured credit facility was amended and restated (the “Second Amended and Restated Credit Agreement”) with Bank of America, N.A., as agent, and the other financial institutions party thereto. The changes include (i) the refinancing of the term loan A facilities, term loan B facilities and revolving credit facilities with new term loan A facilities (including facilities in Canadian dollars, euros, Japanese yen, pounds sterling and U.S. dollars) in an aggregate principal amount equivalent to $1,330 million and revolving credit facilities of $700 million, (ii) a new $100 million delayed draw term loan A facility, (iii) a 0.75% reduction of the interest rate margin for the term loan A facilities and revolving credit facilities, (iv) extension of the final maturity of the term loan A facilities and revolving credit commitment to July 25, 2019, (v) adjustments to the financial maintenance covenant of Consolidated Net Debt to Consolidated EBITDA (as defined in the Second Amended and Restated Credit Agreement) and other covenants to provide additional flexibility to the Company and (vi) other amendments.

Lines of Credit

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


	June 30, 2014		December 31, 2013
Used lines of credit ⁽¹⁾	$	644.0	$	81.6
Unused lines of credit		642.2		1,224.0

Total available lines of credit⁽²⁾	$	1,286.2	$	1,305.6

⁽¹⁾	Includes total borrowings under AR securitization program, revolving credit facility and borrowings under several foreign subsidiaries.

⁽²⁾	Of the total available lines of credit, $945 million were committed.

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, 2014.

Derivatives and Hedging Activities

6 Months Ended

Jun. 30, 2014

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.

Foreign Currency Forward Contracts Designated as Cash Flow Hedges

Net unrealized after tax gains (losses) related to these contracts that were included in other comprehensive income (loss) for the three and six months ended June 30, 2014 and 2013 and any amounts reclassified to the condensed 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

The changes in fair value of these 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, which include third party and intercompany receivables and payables and intercompany loans. These contracts predominantly have original maturities of 12 to 18 months.

Interest Rate Swaps

From time to time, we may use interest rate swaps to manage our mix of fixed and floating interest rates on our outstanding indebtedness.

At June 30, 2014 and December 31, 2013, we had $100 million notional amount of outstanding interest rate swaps, which did not materially impact our condensed consolidated results of operations or financial position.

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, 2014 and December 31, 2013, 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 Derivatives ⁽¹⁾				Fair Value of (Liability) Derivatives ⁽¹⁾
	June 30, 2014		December 31, 2013		June 30, 2014			December 31, 2013
Derivatives designated as hedging instruments:
Foreign currency forward contracts (cash flow hedges)	$	0.3	$	3.4	$	(2.4	)	$	(1.3	)
Interest rate swaps (fair value hedges)		1.5		—		—			(1.0	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		1.9		7.1		(36.3	)		(49.1	)

Total	$	3.7	$	10.5	$	(38.7	)	$	(51.4	)

(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 gains and losses on foreign currency forward contracts included below were substantially offset by the losses and 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 intercompany loans.


	Amount of Gain (Loss) Recognized in Earnings on Derivatives⁽¹⁾
	Three Months Ended June 30,					Six Months Ended June 30,
	2014			2013		2014			2013
Derivatives designated as hedging instruments:
Foreign currency forward contracts	$	(1.1	)	$	0.5	$	1.2		$	0.2
Interest rate swaps		0.5			—		1.0			—
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		(1.8	)		3.6		(4.9	)		(16.2	)

Total	$	(2.4	)	$	4.1	$	(2.7	)	$	(16.0	)

⁽¹⁾	Amounts recognized on foreign currency forward contracts were included in other (expense), net and amounts recognized on interest rate swaps were included in interest expense.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Fair Value Measurements and Other Financial Instruments

6 Months Ended

Jun. 30, 2014

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, 2014	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents	$	59.5		$	—	$	59.5		$	—
Derivative financial instruments net asset (liability):
Interest rate swaps	$	1.5		$	—	$	1.5		$	—
Foreign currency forward contracts	$	(36.5	)	$	—	$	(36.5	)	$	—


December 31, 2013	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents	$	491.9		$	—	$	491.9		$	—
Derivative financial instruments net asset (liability):
Interest rate swaps	$	(1.0	)	$	—	$	(1.0	)	$	—
Foreign currency forward contracts	$	(40.0	)	$	—	$	(40.0	)	$	—

Cash Equivalents

Our cash equivalents at June 30, 2014 and December 31, 2013 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 Baa1 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) trade 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 incorporate 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, 2014				December 31, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
12% Senior Notes due February 2014	$	—	$	—	$	150.3	$	150.6
Term Loan A Facility due October 2016		638.5		638.5		684.5		684.5
Term Loan B Facility due October 2018		681.7		681.7		681.6		681.6
8.125% Senior Notes due September 2019		750.0		831.9		750.0		841.4
6.50% Senior Notes due December 2020		426.5		480.0		424.1		456.7
8.375% Senior Notes due September 2021		750.0		860.0		750.0		853.1
5.25% Senior Notes due April 2023		425.0		433.7		425.0		414.7
6.875% Senior Notes due July 2033		448.6		462.4		448.6		431.2
Other foreign loans⁽¹⁾		255.1		254.9		85.0		84.9
Other domestic loans⁽²⁾		393.3		393.3		0.4		0.4

Total debt	$	4,768.7	$	5,036.4	$	4,399.5	$	4,599.1

⁽¹⁾	Includes $129 million outstanding under our European accounts receivable securitization program.

⁽²⁾	Includes $305 million outstanding under our revolving credit facility and $88 million outstanding under our U.S. accounts receivable securitization program.

As of June 30, 2014, we did not have any non–financial assets or 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 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 + Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	(13) Income Taxes *Effective Income Tax Rate and Income Tax Provision* Our effective income tax rate from continuing operations for the three months ended June 30, 2014 was 35.4% and for the six months ended June 30, 2014 was 24.9%. Our effective income tax rate for the six months ended June 30, 2014 benefited from a favorable earnings mix with earnings in jurisdictions with low tax rates. In addition, our rate benefited from certain favorable discrete items totaling approximately $14 million, including $7 million from a favorable tax settlement and approximately $7 million from the release of reserves related to the expiration of the statute of limitations and a successful judicial verdict. The favorable factors were partially offset by the $15 million foreign currency exchange losses related to Venezuelan subsidiaries with no tax benefit and the lapse of various U.S. tax provisions (the “Extenders”), including the research and development credit and certain foreign provisions. Our effective income tax rate from continuing operations for the three months ended June 30, 2014 also benefitted from the favorable earnings mix mentioned above, but this was offset by special item expenses with no or low tax benefits as well as the lapse of the Extenders. Our effective income tax rate from continuing operations for the three months ended June 30, 2013 was 24.8% and for the six months ended June 30, 2013 was 13.7%. Our effective income tax rate for both the three and six months ended June 30, 2013 benefitted 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. 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. *Unrecognized Tax Benefits* As noted above, during the six months ended June 30, 2014, we reduced our unrecognized tax benefits by approximately $7 million. We have not changed our policy with regard to the reporting of penalties and interest related to unrecognized tax benefits.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2014

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

(14) Commitments and Contingencies

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 condensed 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 condensed 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. We generally do not establish a liability for product warranty based on a percentage of sales or other formula. We accrue 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 condensed 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 (the “Ministry”) for the total repayment of grant monies paid to two of our former subsidiaries in the amount of €5 million. With accrued interest the total value of the demand currently stands at €10 million ($14 million equivalent at June 30, 2014). 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 was held July 3, 2014, with a decision expected by the end of September 2014. 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 condensed consolidated financial condition or results of operations, however the amount may be material to an interim reporting period.

Stockholders' Equity

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Stockholders' Equity

(15) Stockholders’ Equity

Repurchase of Common Stock

On June 13, 2014, Sealed Air repurchased $130 million, or 3,932,244 shares, of common stock at a price of $33.06 per share from the WRG Asbestos PI Trust. As a result, our common stock in treasury increased $130 million. The Company funded the stock repurchase with $110 million from committed credit facilities and $20 million of accumulated cash and cash equivalents.

Quarterly Cash Dividends

On May 22, 2014, our Board of Directors declared a quarterly cash dividend of $0.13 per common share, or $28 million, which was paid on June 20, 2014 to stockholders of record at the close of business on June 6, 2014. On February 18, 2014, our Board of Directors declared a quarterly cash dividend of $0.13 per common share, or $28 million, which was paid on March 21, 2014 to stockholders of record at the close of business on March 7, 2014.

Our credit facility and certain of 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 condensed 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 into cash-settled stock appreciation rights based on Sealed Air common stock. As of June 30, 2014, total outstanding SARs was 0.6 million, and the total remaining unvested SARs was 0.3 million and will vest entirely by March 31, 2015. 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 $2 million in the three months ended June 30, 2014 and $2 million in the six months ended June 30, 2014, related to SARs that were granted to Diversey employees who remained employees as of June 30, 2014. We also 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. Cash payments due to the exercise of these SARs were $17 million for the six months ended June 30, 2014 and $28 million for the six months ended June 30, 2013. As of June 30, 2014, the liability for the remaining outstanding SARs was $19 million and is included in other current liabilities on the condensed consolidated balance sheets.

In addition to the amounts discussed above, $1 million was recorded in the six months ended June 30, 2013 for SARs payments or cash payments due to the exercise of SARs that were part of the termination and benefit costs for employees under the IOP. This expense was included in restructuring and other charges on our condensed consolidated statements of operations. We did not recognize any SARs-related restructuring expense in the six months ended June 30, 2014, and there was no remaining liability for SARs included in the restructuring programs as of June 30, 2014.

Share-based Incentive Compensation

We record share-based incentive compensation expense in selling, general and administrative expenses and cost of sales on our condensed consolidated statements of operations with a corresponding credit to additional paid-in capital within stockholders’ equity for equity-based awards and to other liabilities for cash-based awards, 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 recognition, net of estimated forfeitures, of the expected cost of the program. For the various performance share unit (“PSU”) awards programs and our stock leverage opportunity (“SLO”) award 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,
	2014		2013		2014		2013

Total share-based incentive compensation expense⁽¹⁾	$	11.9	$	7.3	$	26.4	$	14.9

⁽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 and other cash-based awards. See Stock Appreciation Rights above for further details of SARs. At June 30, 2014, our cash-based awards were not material to our condensed consolidated financial positions or results of operations.

Special PSU Program for 2014

During March 2014, the Compensation Committee approved a special PSU award to the executive officers and a broader group of other employees under the 2005 Contingent Stock Plan. The following summarizes the key features of the PSU awards:

•

the PSU awards are earned principally based on achievement of exceeding $1.7 billion of adjusted free cash flow (as defined in the award), above targets established in the Company’s three-year strategic plan, over the three-year performance period of 2014-2016.

•

in addition, no portion of an award is earned unless we achieve a minimum specified level of earnings per share during the last year of the performance period, in order to balance the free cash flow goal with an appropriate focus on generating earnings.

•

to further balance the incentives, the amount earned based on adjusted free cash flow performance will be reduced by 25% if our relative Total Stockholder Return (as defined in the award) for the performance period is below a certain percentile of an approved peer group of companies.

•

50% of any PSUs earned during the performance period will be paid out in early 2017. The remaining 50% of the earned PSUs is subject to an additional 2017 performance requirement, the ratio of working capital to net trade sales for 2017 (as defined in the award) and will be paid out in early 2018.

These PSU awards are in addition to other 2014 long-term incentive compensation opportunities. We recognized $2 million of share-based compensation expense related to this award in the three months ended June 30, 2014, and $4 million in the six months ended June 30, 2014.

Accumulated Other Comprehensive Loss

Included in stockholders’ equity on our condensed consolidated balance sheets is accumulated other comprehensive loss, the majority of which is unrecognized pension items of $144 million as of June 30, 2014. For the three months ended June 30, 2014, we reclassified $1 million and for the six months ended June 30, 2014 we reclassified $2 million of unrecognized pension items, net of taxes from accumulated other comprehensive income to other assets and other liabilities on the consolidated balance sheets. See Note 15, “Profit Sharing, Retirement Savings Plans and Defined Benefit Plans,” of the Notes to the Consolidated Financial Statements included in our 2013 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, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ 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 3: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
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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 Accounting Standards Codification
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-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
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-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
-Topic 505
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-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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-Paragraph d
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
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-Paragraph 29, 30, 31
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

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

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Other (Expense), net

6 Months Ended

Jun. 30, 2014

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,
	2014			2013			2014			2013
Interest and dividend income	$	3.0		$	2.4		$	6.6		$	5.6
Net foreign exchange transaction losses		(2.6	)		(3.8	)		(4.6	)		(5.4	)
Bank fee expense		(1.7	)		(1.7	)		(3.3	)		(3.3	)
Other, net		(3.5	)		(0.2	)		(3.1	)		0.1

Other (Expense), net	$	(4.8	)	$	(3.3	)	$	(4.4	)	$	(3.0	)

Gain from Claims Settlement

As previously disclosed in our 2013 Annual Report on Form 10-K, on February 3, 2014, we entered into the Claims Settlement agreement. Under the Claims Settlement agreement, we released and waived certain claims against the Grace Parties and the Grace Parties released and waived certain claims against us. As a result, we recognized a gain of $21 million during the six months ended June 30, 2014, which consisted of the release of $17 million of certain tax liabilities and $4 million of other associated liabilities.

Impairment of Equity Method Investment

During the three months ended June 30, 2014, we recognized an impairment of $6 million in connection with an equity method investment. This investment was not material to our condensed consolidated financial position or results of operations.

Net Earnings Per Common Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Net Earnings Per Common Share

(17) Net Earnings Per Common Share

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


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
*Basic Net Earnings Per Common Share:*
Numerator
Net earnings available to common stockholders	$	60.3		$	56.3		$	132.1		$	59.0
Distributed and allocated undistributed net earnings to non-vested restricted stockholders		(0.3	)		(0.2	)		(0.7	)		(0.3	)

Distributed and allocated undistributed net earnings to common stockholders		60.0			56.1			131.4			58.7
Distributed net earnings - dividends paid to common stockholders		(27.9	)		(25.3	)		(55.6	)		(50.6	)

Allocation of undistributed net earnings to common stockholders	$	32.1		$	30.8		$	75.8		$	8.1

Denominator
Weighted average number of common shares outstanding - basic		213.5			194.8			210.1			194.3
Basic net earnings per common share:
Distributed net earnings to common stockholders	$	0.13		$	0.13		$	0.26		$	0.26
Allocated undistributed net earnings (loss) to common stockholders		0.15			0.16			0.37			0.04

Basic net earnings per common share:	$	0.28		$	0.29		$	0.63		$	0.30


*Diluted Net Earnings Per Common Share:*
Numerator
Distributed and allocated undistributed net earnings to common stockholders	$	60.0		$	56.1		$	131.4		$	58.7
Add: Allocated undistributed net earnings to non-vested restricted stockholders		0.2			0.1			0.5			0.1
Less: Undistributed net earnings reallocated to non-vested restricted stockholders		(0.2	)		(0.1	)		(0.5	)		(0.1	)

Net earnings available to common stockholders - diluted	$	60.0		$	56.1		$	131.4		$	58.7


Denominator
Weighted average number of common shares outstanding - basic		213.5			194.8			210.1			194.3
Effect of assumed issuance of Settlement agreement shares ⁽¹⁾		—			18.0			3.3			18.0
Effect of non-vested restricted stock units		1.2			0.8			1.2			0.9

Weighted average number of common shares outstanding - diluted		214.7			213.6			214.6			213.2

Diluted net earnings per common share	$	0.28		$	0.26		$	0.61		$	0.28

⁽¹⁾

For 2014, the shares included above represent the weighted average number of shares from January 1, 2014 through February 3, 2014. The weighted average number of shares from February 4, 2014 through June 30, 2014 are included in the weighted average number of common shares outstanding-basic since they were issued on February 3, 2014 in connection with the Settlement agreement.

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. Shares related to the 2012, 2013 and 2014 PSU awards were not included in the diluted weighted average number of common shares outstanding for the three months and six months ended June 30, 2014 because the target levels of their respective performance conditions were not met as of June 30, 2014.

Stock Leverage Opportunity Awards (“SLO”)

The shares or units associated with the 2014 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 months and six months ended June 30, 2014. 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 2015. Once this determination is made, the shares or units will be included in diluted weighted average number of common shares outstanding 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 months and six ended June 30, 2014 and 2013 were nominal.

Organization and Basis of Presentation (Policies)	6 Months Ended
Organization and Basis of Presentation (Policies)	Jun. 30, 2014
Accounting Changes And Error Corrections [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, healthcare and industrial, and commercial and consumer applications. Our focus is on achieving quality sales growth through leveraging our geographic footprint, technological know-how and leading market positions to bring measurable, sustainable value to our customers, employees and investors. 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.
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, 2014 and our condensed consolidated statements of operations for the three and six months ended June 30, 2014 and 2013 have been made. The results set forth in our condensed consolidated statements of operations for the three and six months ended June 30, 2014 and in our condensed consolidated statements of cash flows for the six months ended June 30, 2014 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 condensed consolidated financial condition, results of operations and cash flows. 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 Annual Report on Form 10-K for the fiscal year ending December 31, 2013 as filed with the SEC on February 28, 2014 (“2013 Form 10-K”) and with the information contained in other publicly-available filings with the SEC. On December 6, 2013, we completed the sale of our rigid medical packaging business. The operating results for the rigid medical packaging business were reclassified to discontinued operations, net of tax, on the condensed consolidated statements of operations for the three and six months ended June 30, 2013. 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” for further information. Effective as of January 1, 2014, we changed our segment reporting structure. See Note 4, “Segments” for further information.
Recently Issued Accounting Standards	In April 2014, the FASB issued ASU 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” (“ASU 2014-08”). Under ASU 2014-08, only disposals representing a strategic shift in operations that have a major effect on the Company’s operations and financial results should be presented as discontinued operations. Additionally, ASU 2014-08 requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income, and expenses of discontinued operations. The amendments in ASU 2014-08 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. However, ASU 2014-08 should not be applied to a component that is classified as held for sale before the effective date even if the component is disposed of after the effective date. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. The effects of ASU 2014-08 will depend on any future disposals by the Company. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” (“ASU 2014-09”). Previous revenue recognition guidance in U.S. GAAP comprised broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting for economically similar transactions. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principal, five steps are required to be applied. In addition, ASU 2014-09 expands and enhances disclosure requirements which require disclosing sufficient information to enable users of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. This includes both qualitative and quantitative information. The amendments in ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company is currently in the process of evaluating this new standard update and will then be able to determine the potential impact upon adoption of this standard update on its consolidated financial statements. In June 2014, the FASB issued ASU 2014-11, “Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financing, and Disclosures,” which amends the accounting guidance for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings and introduces additional disclosure requirements. The new guidance is effective for annual and interim reporting periods beginning on or after December 15, 2014, and early adoption is not permitted. The Company is currently evaluating the impact of adopting this guidance. In June 2014, the FASB issued ASU 2014-12, “Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period,” (“ASU 2014-12”). ASU 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. Prior the issuance of ASU 2014-12, U.S. GAAP did not contain explicit guidance on how to account for those share-based payments. Many reporting entities accounted for performance targets that could be achieved after the requisite service period as performance conditions that affect the vesting of the award and, therefore, did not reflect the performance target in the estimate of the grant-date fair value of the award. Other reporting entities treated those performance targets as nonvesting conditions that affected the grant-date fair value of the award. Sealed Air currently treats performance targets that affect vesting as a performance condition and as such, it is not included in the grant-date fair value. Therefore, the impact upon adoption would not be material. The amendments in ASU 2014-12 are effective for fiscal years and interim periods within those years, beginning after December 15, 2015. Earlier application is permitted.

Divestiture (Tables)

6 Months Ended

Jun. 30, 2014

Rigid Medical Packaging Business [Member]

Schedule of Financial Information from Discontinued Operations

Following is selected financial information included in net earnings from discontinued operations:


	Three Months Ended June 30, 2013		Six Months Ended June 30, 2013
Net sales	$	24.2	$	48.1

Operating profit	$	3.1	$	5.9

Earnings before income tax provision	$	3.0	$	5.7
Income tax provision		1.0		1.7

Net earnings from discontinued operations, net of tax	$	2.0	$	4.0

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Segments (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Net Sales and Adjusted EBITDA of Reportable Segments

The following tables show net sales and Adjusted EBITDA by our segment reporting structure:


	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
Net Sales:
Food Care	$	962.1		$	947.0		$	1,866.4		$	1,850.1
As a % of Total Company net sales		48.7	%		48.9	%		49.1	%		49.1	%
Diversey Care		581.3			570.0			1,086.4			1,082.9
As a % of Total Company net sales		29.5	%		29.4	%		28.6	%		28.8	%
Product Care		408.7			394.8			802.5			782.0
As a % of Total Company net sales		20.7	%		20.4	%		21.1	%		20.8	%

Total Reportable Segments Net Sales		1,952.1			1,911.8			3,755.3			3,715.0
Other		21.5			25.6			46.0			51.3

Total Company Net Sales	$	1,973.6		$	1,937.4		$	3,801.3		$	3,766.3


Adjusted EBITDA:
Food Care	$	159.4		$	148.2		$	318.9		$	293.9
Adjusted EBITDA Margin		16.6	%		15.6	%		17.1	%		15.9	%
Diversey Care		72.3			73.3			116.8			115.9
Adjusted EBITDA Margin		12.4	%		12.9	%		10.8	%		10.7	%
Product Care		70.8			61.3			140.9			123.9
Adjusted EBITDA Margin		17.3	%		15.5	%		17.6	%		15.8	%

Total Reportable Segments Adjusted EBITDA		302.5			282.8			576.6			533.7
Other		(18.4	)		(20.6	)		(40.3	)		(40.1	)

Non-U.S. GAAP Total Company Adjusted EBITDA	$	284.1		$	262.2		$	536.3		$	493.6

Adjusted EBITDA Margin		14.4	%		13.5	%		14.1	%		13.1	%

Reconciliation of Non-U.S. GAAP Adjusted EBITDA to U.S. GAAP Net Earnings

The following table shows a reconciliation of Non-U.S. GAAP Total Company Adjusted EBITDA to U.S. GAAP net earnings from continuing operations:


	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013

Non-U.S. GAAP Total Company Adjusted EBITDA	$	284.1		$	262.2		$	536.3		$	493.6
Depreciation and amortization ⁽¹⁾		(81.6	)		(81.8	)		(164.4	)		(161.3	)
Special items ⁽²⁾:
Write-down of non-strategic assets included in depreciation and amortization		—			5.0			(0.1	)		5.0
Restructuring and other charges⁽³⁾		(14.1	)		(11.9	)		(20.2	)		(11.7	)
Other restructuring associated costs included in cost of sales and selling general and administrative expenses		(10.8	)		(10.7	)		(15.4	)		(16.6	)
SARs		(1.7	)		(0.1	)		(2.2	)		(18.1	)
Costs related to the acquisition and integration of Diversey		(0.9	)		—			(1.8	)		(0.4	)
Foreign currency exchange (losses) related to Venezuelan subsidiaries		0.2			(0.5	)		(14.8	)		(13.6	)
Loss on debt redemption		(0.4	)		(0.1	)		(0.8	)		(32.4	)
Gain from Claims Settlement in 2014 and related cost		(0.5	)		(0.2	)		20.6			(0.3	)
Other expense, net		(7.0	)		—			(8.9	)		—
Interest expense		(73.9	)		(89.7	)		(152.4	)		(180.5	)
Income tax provision		33.1			17.9			43.8			8.7

U.S. GAAP net earnings from continuing operations	$	60.3		$	54.3		$	132.1		$	55.0

⁽¹⁾	Depreciation and amortization including share-based incentive compensation expense by segment is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Food Care	$	27.1	$	29.2	$	59.1	$	59.4
Diversey Care		29.8		33.4		62.1		68.1
Product Care		9.9		9.7		20.5		19.4

Total reportable segments		66.8		72.3		141.7		146.9
Other		14.8		9.5		22.7		14.4

Total Company depreciation and amortization	$	81.6	$	81.8	$	164.4	$	161.3

⁽²⁾	Includes items that were considered unusual or special items. See “Non-U.S. GAAP information” above for further information.

⁽³⁾	Restructuring and other charges by segment were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Food Care	$	7.0	$	4.9	$	11.1	$	3.5
Diversey Care		3.4		5.7		3.8		4.9
Product Care		3.5		1.2		5.0		3.2

Total reportable segments		13.9		11.8		19.9		11.6
Other		0.2		0.1		0.3		0.1

Total Company restructuring and other charges	$	14.1	$	11.9	$	20.2	$	11.7

Inventories (Tables)

6 Months Ended

Jun. 30, 2014

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, 2014			December 3 2013

Inventories (at FIFO, which approximates replacement value):
Raw materials	$	116.6		$	116.6
Work in process		127.0			110.9
Finished goods		590.1			514.5

Subtotal (at FIFO)		833.7			742.0
Reduction of certain inventories to LIFO basis		(50.2	)		(53.6	)

Total	$	783.5		$	688.4

Property and Equipment, net (Tables)

6 Months Ended

Jun. 30, 2014

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment, Net

The following table details our property and equipment, net:


	June 30, 2014			December 31, 2013
Land and improvements	$	126.3		$	135.8
Buildings		734.9			729.6
Machinery and equipment		2,500.6			2,488.4
Other property and equipment		170.1			164.8
Construction-in-progress		114.2			107.1

Property and equipment, gross		3,646.1			3,625.7
Accumulated depreciation and amortization		(2,546.4	)		(2,491.2	)

Property and equipment, net	$	1,099.7		$	1,134.5

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,
	2014		2013		2014		2013
Interest cost capitalized	$	1.2	$	1.3	$	2.5	$	2.7

Depreciation and amortization expense for property and equipment	$	38.5	$	43.1	$	75.6	$	83.1

Goodwill and Identifiable Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Goodwill Balances by Segment Reporting Structure


	Carrying Value at December 31, 2013		Accumulated Impairment			Carrying Value at December 31, 2013		Impact of Foreign Currency Translation Six Months Ended June 30, 2014		Carrying Value at June 30, 2014		Accumulated Impairment			Carrying Value at June 30, 2014
Food Care	$	833.7	$	(208.0	)	$	625.7	$	5.8	$	839.5	$	(208.0	)	$	631.5
Diversey Care		1,994.1		(883.0	)		1,111.1		2.2		1,996.3		(883.0	)		1,113.3
Product Care		1,372.8		—			1,372.8		0.2		1,373.0		0.0			1,373.0
Other		5.0		—			5.0		0.3		5.3		0.0			5.3

Total	$	4,205.6	$	(1,091.0	)	$	3,114.6	$	8.5	$	4,214.1	$	(1,091.0	)	$	3,123.1

Summarize of Identifiable Intangible Assets with Definite and Indefinite Useful Lives


	June 30, 2014										December 31, 2013
	Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net		Gross Carrying Value		Accumulated Amortization			Accumulated Impairment			Net
Customer relationships	$	955.7	$	(198.2	)		(148.9	)	$	608.6	$	961.3	$	(171.2	)	$	(148.9	)	$	641.2
Trademarks and trade names		881.5		(0.1	)		(630.2	)		251.2		881.5		(0.1	)		(630.2	)		251.2
Technology		258.2		(152.8	)		(22.2	)		83.2		252.6		(128.0	)		(22.2	)		102.4
Contracts		44.3		(26.1	)		—			18.2		44.0		(21.9	)		—			22.1

Total	$	2,139.7	$	(377.2	)	$	(801.3	)	$	961.2	$	2,139.4	$	(321.2	)	$	(801.3	)	$	1,016.9

Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at June 30, 2014:


Year	Amount
2014	$	53.3
2015		88.7
2016		84.8
2017		79.3
2018		70.2
Thereafter		333.8

Total	$	710.1

Restructuring Activities (Tables)

6 Months Ended

Jun. 30, 2014

Restructuring Activities

The following table details our restructuring activities.


	Three Months Ended June 30,													Six Months Ended June 30,
	2014						2013							2014						2013
	IOP		EQIP		Total		IOP			EQIP		Total		IOP		EQIP		Total		IOP			EQIP		Total

Other associated costs	$	0.6	$	7.9	$	8.5	$	3.2		$	1.8	$	5.0	$	2.0	$	10.6	$	12.6	$	8.5		$	1.8	$	10.3
Restructuring charges		4.2		9.9		14.1		(4.8	)		16.7		11.9		5.5		14.7		20.2		(5.0	)		16.7		11.7


Total	$	4.8	$	17.8	$	22.6	$	(1.6	)	$	18.5	$	16.9	$	7.5	$	25.3	$	32.8	$	3.5		$	18.5	$	22.0

EQIP [Member]

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

The restructuring accrual, spending and other activity in the six months ended June 30, 2014 and the accrual balance remaining at June 30, 2014 related to this program were as follows:


EQIP restructuring accrual at December 31, 2013	$	55.9
Accrual and accrual adjustments		14.7
Cash payments during 2014		(28.0	)
Effect of changes in foreign currency exchange rates		0.3

EQIP restructuring accrual at June 30, 2014	$	42.9

IOP [Member]

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

The restructuring accrual, spending and other activity in the six months ended June 30, 2014 and the accrual balance remaining at June 30, 2014 related to this program were as follows:


IOP restructuring accrual at December 31, 2013	$	24.5
Accrual and accrual adjustments		5.5
Cash payments during 2014		(13.3	)
Effect of changes in foreign currency exchange rates		(0.2	)

IOP restructuring accrual at June 30, 2014	$	16.5

Debt and Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Total Debt Outstanding

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


	June 30, 2014		December 31, 2013
Short-term borrowings ⁽¹⁾	$	644.0	$	81.6
Current portion of long-term debt⁽²⁾ ⁽³⁾		69.8		201.5

Total current debt		713.8		283.1
Term Loan A Facility due October 2016, less unamortized lender fees of $6.1 in 2014 and $8.4 in 2013 ⁽²⁾ ⁽³⁾		571.5		634.8
Term Loan B Facility due October 2018, less unamortized lender fees of $6.6 in 2014 and $7.3 in 2013, and unamortized discount of $9.7 in 2014 and $10.8 in 2013⁽³⁾		680.8		681.6
8.125% Senior Notes due September 2019		750.0		750.0
6.50% Senior Notes due December 2020		426.5		424.1
8.375% Senior Notes due September 2021		750.0		750.0
5.25% Senior Notes due April 2023		425.0		425.0
6.875% Senior Notes due July 2033, less unamortized discount of $1.4 in 2014 and 2013		448.6		448.6
Other		2.5		2.3

Total long-term debt, less current portion		4,054.9		4,116.4

Total debt⁽⁴⁾	$	4,768.7	$	4,399.5

⁽¹⁾

⁽²⁾	The Company’s $150 million 12% Senior Notes due February 2014 (“12% Senior Notes”) were included in current portion of long-term debt as of December 31, 2013. We repaid the 12% Senior Notes upon their maturity using cash on hand and committed liquidity.

⁽³⁾	We reclassified $68 million of Term Loan A and Term Loan B installment payments due in the next 12 months to current portion of long term debt as of June 30, 2014.

⁽⁴⁾	The weighted average interest rate on our total outstanding debt was 5.7% as of June 30, 2014 and 6.2% as of December 31, 2013.

Lines of Credit


	June 30, 2014		December 31, 2013
Used lines of credit ⁽¹⁾	$	644.0	$	81.6
Unused lines of credit		642.2		1,224.0

Total available lines of credit⁽²⁾	$	1,286.2	$	1,305.6

⁽¹⁾	Includes total borrowings under AR securitization program, revolving credit facility and borrowings under several foreign subsidiaries.

⁽²⁾	Of the total available lines of credit, $945 million were committed.

Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2014

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 Derivatives ⁽¹⁾				Fair Value of (Liability) Derivatives ⁽¹⁾
	June 30, 2014		December 31, 2013		June 30, 2014			December 31, 2013
Derivatives designated as hedging instruments:
Foreign currency forward contracts (cash flow hedges)	$	0.3	$	3.4	$	(2.4	)	$	(1.3	)
Interest rate swaps (fair value hedges)		1.5		—		—			(1.0	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		1.9		7.1		(36.3	)		(49.1	)

Total	$	3.7	$	10.5	$	(38.7	)	$	(51.4	)

(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 Condensed 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,
	2014			2013		2014			2013
Derivatives designated as hedging instruments:
Foreign currency forward contracts	$	(1.1	)	$	0.5	$	1.2		$	0.2
Interest rate swaps		0.5			—		1.0			—
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		(1.8	)		3.6		(4.9	)		(16.2	)

Total	$	(2.4	)	$	4.1	$	(2.7	)	$	(16.0	)

⁽¹⁾	Amounts recognized on foreign currency forward contracts were included in other (expense), net and amounts recognized on interest rate swaps were included in interest expense.

Fair Value Measurements and Other Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Hierarchy of Financial Instruments

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


June 30, 2014	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents	$	59.5		$	—	$	59.5		$	—
Derivative financial instruments net asset (liability):
Interest rate swaps	$	1.5		$	—	$	1.5		$	—
Foreign currency forward contracts	$	(36.5	)	$	—	$	(36.5	)	$	—


December 31, 2013	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents	$	491.9		$	—	$	491.9		$	—
Derivative financial instruments net asset (liability):
Interest rate swaps	$	(1.0	)	$	—	$	(1.0	)	$	—
Foreign currency forward contracts	$	(40.0	)	$	—	$	(40.0	)	$	—

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, 2014				December 31, 2013
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
12% Senior Notes due February 2014	$	—	$	—	$	150.3	$	150.6
Term Loan A Facility due October 2016		638.5		638.5		684.5		684.5
Term Loan B Facility due October 2018		681.7		681.7		681.6		681.6
8.125% Senior Notes due September 2019		750.0		831.9		750.0		841.4
6.50% Senior Notes due December 2020		426.5		480.0		424.1		456.7
8.375% Senior Notes due September 2021		750.0		860.0		750.0		853.1
5.25% Senior Notes due April 2023		425.0		433.7		425.0		414.7
6.875% Senior Notes due July 2033		448.6		462.4		448.6		431.2
Other foreign loans⁽¹⁾		255.1		254.9		85.0		84.9
Other domestic loans⁽²⁾		393.3		393.3		0.4		0.4

Total debt	$	4,768.7	$	5,036.4	$	4,399.5	$	4,599.1

⁽¹⁾	Includes $129 million outstanding under our European accounts receivable securitization program.

⁽²⁾	Includes $305 million outstanding under our revolving credit facility and $88 million outstanding under our U.S. accounts receivable securitization program.

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2014

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,
	2014		2013		2014		2013

Total share-based incentive compensation expense⁽¹⁾	$	11.9	$	7.3	$	26.4	$	14.9

⁽¹⁾

Other (Expense), net (Tables)

6 Months Ended

Jun. 30, 2014

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,
	2014			2013			2014			2013
Interest and dividend income	$	3.0		$	2.4		$	6.6		$	5.6
Net foreign exchange transaction losses		(2.6	)		(3.8	)		(4.6	)		(5.4	)
Bank fee expense		(1.7	)		(1.7	)		(3.3	)		(3.3	)
Other, net		(3.5	)		(0.2	)		(3.1	)		0.1

Other (Expense), net	$	(4.8	)	$	(3.3	)	$	(4.4	)	$	(3.0	)

Net Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Net Earnings Per Common Share

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


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
*Basic Net Earnings Per Common Share:*
Numerator
Net earnings available to common stockholders	$	60.3		$	56.3		$	132.1		$	59.0
Distributed and allocated undistributed net earnings to non-vested restricted stockholders		(0.3	)		(0.2	)		(0.7	)		(0.3	)

Distributed and allocated undistributed net earnings to common stockholders		60.0			56.1			131.4			58.7
Distributed net earnings - dividends paid to common stockholders		(27.9	)		(25.3	)		(55.6	)		(50.6	)

Allocation of undistributed net earnings to common stockholders	$	32.1		$	30.8		$	75.8		$	8.1

Denominator
Weighted average number of common shares outstanding - basic		213.5			194.8			210.1			194.3
Basic net earnings per common share:
Distributed net earnings to common stockholders	$	0.13		$	0.13		$	0.26		$	0.26
Allocated undistributed net earnings (loss) to common stockholders		0.15			0.16			0.37			0.04

Basic net earnings per common share:	$	0.28		$	0.29		$	0.63		$	0.30


*Diluted Net Earnings Per Common Share:*
Numerator
Distributed and allocated undistributed net earnings to common stockholders	$	60.0		$	56.1		$	131.4		$	58.7
Add: Allocated undistributed net earnings to non-vested restricted stockholders		0.2			0.1			0.5			0.1
Less: Undistributed net earnings reallocated to non-vested restricted stockholders		(0.2	)		(0.1	)		(0.5	)		(0.1	)

Net earnings available to common stockholders - diluted	$	60.0		$	56.1		$	131.4		$	58.7


Denominator
Weighted average number of common shares outstanding - basic		213.5			194.8			210.1			194.3
Effect of assumed issuance of Settlement agreement shares ⁽¹⁾		—			18.0			3.3			18.0
Effect of non-vested restricted stock units		1.2			0.8			1.2			0.9

Weighted average number of common shares outstanding - diluted		214.7			213.6			214.6			213.2

Diluted net earnings per common share	$	0.28		$	0.26		$	0.61		$	0.28

⁽¹⁾

Organization and Basis of Presentation - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2014 Subsidiary
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of wholly-owned subsidiaries	3

Divestiture - Additional Information (Detail) - Rigid Medical Packaging Business [Member] - USD ($) $ in Millions		12 Months Ended
	Dec. 06, 2013	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of businesses	$ 125
Cash proceeds, net after transaction costs	$ 122
Pre-tax gain on the sale of operations		$ 40
Net gain on the sale of operations		$ 23

Divestiture - Schedule of Financial Information from Discontinued Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net earnings from discontinued operations, net of tax	$ 0.0	$ 2.0	$ 0.0	$ 4.0
Rigid Medical Packaging Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales		24.2		48.1
Operating profit		3.1		5.9
Earnings before income tax provision		3.0		5.7
Income tax provision		1.0		1.7
Net earnings from discontinued operations, net of tax		$ 2.0		$ 4.0

Segments - Additional Information (Detail)	6 Months Ended
Segments - Additional Information (Detail)	Jun. 30, 2014 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segments - Net Sales and Adjusted EBITDA of Reportable Segments (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]
Net Trade Sales	$ 1,973.6	$ 1,937.4	$ 3,801.3	$ 3,766.3
Non-U.S. GAAP Total Company Adjusted EBITDA	$ 284.1	$ 262.2	$ 536.3	$ 493.6
Adjusted EBITDA Margin	14.40%	13.50%	14.10%	13.10%
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Trade Sales	$ 1,952.1	$ 1,911.8	$ 3,755.3	$ 3,715.0
Adjusted EBITDA	302.5	282.8	576.6	533.7
Operating Segments [Member] \| Food Care [Member]
Segment Reporting Information [Line Items]
Net Trade Sales	962.1	947.0	1,866.4	1,850.1
Adjusted EBITDA	$ 159.4	$ 148.2	$ 318.9	$ 293.9
Adjusted EBITDA Margin	16.60%	15.60%	17.10%	15.90%
Operating Segments [Member] \| Diversey Care [Member]
Segment Reporting Information [Line Items]
Net Trade Sales	$ 581.3	$ 570.0	$ 1,086.4	$ 1,082.9
Adjusted EBITDA	$ 72.3	$ 73.3	$ 116.8	$ 115.9
Adjusted EBITDA Margin	12.40%	12.90%	10.80%	10.70%
Operating Segments [Member] \| Product Care [Member]
Segment Reporting Information [Line Items]
Net Trade Sales	$ 408.7	$ 394.8	$ 802.5	$ 782.0
Adjusted EBITDA	$ 70.8	$ 61.3	$ 140.9	$ 123.9
Adjusted EBITDA Margin	17.30%	15.50%	17.60%	15.80%
Other [Member]
Segment Reporting Information [Line Items]
Net Trade Sales	$ 21.5	$ 25.6	$ 46.0	$ 51.3
Adjusted EBITDA	$ (18.4)	$ (20.6)	$ (40.3)	$ (40.1)
Net Trade Sales [Member] \| Operating Segments [Member] \| Food Care [Member]
Segment Reporting Information [Line Items]
As a % of Total Company net trade sales	48.70%	48.90%	49.10%	49.10%
Net Trade Sales [Member] \| Operating Segments [Member] \| Diversey Care [Member]
Segment Reporting Information [Line Items]
As a % of Total Company net trade sales	29.50%	29.40%	28.60%	28.80%
Net Trade Sales [Member] \| Operating Segments [Member] \| Product Care [Member]
Segment Reporting Information [Line Items]
As a % of Total Company net trade sales	20.70%	20.40%	21.10%	20.80%

Segments - Reconciliation of Non-U.S. GAAP Adjusted EBITDA to U.S. GAAP Net Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting [Abstract]
Non-U.S. GAAP Total Company Adjusted EBITDA	$ 284.1	$ 262.2	$ 536.3	$ 493.6
Depreciation and amortization	(81.6)	(81.8)	(164.4)	(161.3)
Special items :
Write-down of non-strategic assets included in depreciation and amortization		5.0	(0.1)	5.0
Restructuring and other charges	(14.1)	(11.9)	(20.2)	(11.7)
Other restructuring associated costs included in cost of sales and selling general and administrative expenses	(10.8)	(10.7)	(15.4)	(16.6)
SARs	(1.7)	(0.1)	(2.2)	(18.1)
Costs related to the acquisition and integration of Diversey	(0.9)		(1.8)	(0.4)
Foreign currency exchange (losses) related to Venezuelan subsidiaries	0.2	(0.5)	(14.8)	(13.6)
Loss on debt redemption	(0.4)	(0.1)	(0.8)	(32.4)
Gain from Claims Settlement in 2014 and related cost	(0.5)	(0.2)	20.6	(0.3)
Other expense, net	(7.0)		(8.9)
Interest expense	(73.9)	(89.7)	(152.4)	(180.5)
Income tax provision	33.1	17.9	43.8	8.7
Net earnings from continuing operations	$ 60.3	$ 54.3	$ 132.1	$ 55.0

Segments - Reconciliation of Non-U.S. GAAP Adjusted EBITDA to U.S. GAAP Net Earnings (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 81.6	$ 81.8	$ 164.4	$ 161.3
Restructuring and other charges	14.1	11.9	20.2	11.7
Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	66.8	72.3	141.7	146.9
Restructuring and other charges	13.9	11.8	19.9	11.6
Other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	14.8	9.5	22.7	14.4
Restructuring and other charges	0.2	0.1	0.3	0.1
Food Care [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	27.1	29.2	59.1	59.4
Restructuring and other charges	7.0	4.9	11.1	3.5
Diversey Care [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	29.8	33.4	62.1	68.1
Restructuring and other charges	3.4	5.7	3.8	4.9
Product Care [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	9.9	9.7	20.5	19.4
Restructuring and other charges	$ 3.5	$ 1.2	$ 5.0	$ 3.2

Inventories - Inventories and Reduction of Certain Inventories to LIFO Basis (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Inventory Net [Abstract]
Raw materials	$ 116.6	$ 116.6
Work in process	127.0	110.9
Finished goods	590.1	514.5
Subtotal (at FIFO)	833.7	742.0
Reduction of certain inventories to LIFO basis	(50.2)	(53.6)
Total	$ 783.5	$ 688.4

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Inventory Net [Abstract]
U.S. inventories determined by LIFO method	$ 122	$ 101

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Property Plant And Equipment Net [Abstract]
Land and improvements	$ 126.3	$ 135.8
Buildings	734.9	729.6
Machinery and equipment	2,500.6	2,488.4
Other property and equipment	170.1	164.8
Construction-in-progress	114.2	107.1
Property and equipment, gross	3,646.1	3,625.7
Accumulated depreciation and amortization	(2,546.4)	(2,491.2)
Property and equipment, net	$ 1,099.7	$ 1,134.5

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, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Property Plant And Equipment [Abstract]
Interest cost capitalized	$ 1.2	$ 1.3	$ 2.5	$ 2.7
Depreciation and amortization expense for property and equipment	$ 38.5	$ 43.1	$ 75.6	$ 83.1

Goodwill and Identifiable Intangible Assets - Summary of Goodwill Balances by Segment Reporting Structure (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Goodwill [Line Items]
Impact of Foreign Currency Translation	$ 8.5
Gross Carrying Value	4,214.1	$ 4,205.6
Accumulated Impairment	(1,091.0)	(1,091.0)
Carrying Value	3,123.1	3,114.6
Food Care [Member]
Goodwill [Line Items]
Impact of Foreign Currency Translation	5.8
Gross Carrying Value	839.5	833.7
Accumulated Impairment	(208.0)	(208.0)
Carrying Value	631.5	625.7
Diversey Care [Member]
Goodwill [Line Items]
Impact of Foreign Currency Translation	2.2
Gross Carrying Value	1,996.3	1,994.1
Accumulated Impairment	(883.0)	(883.0)
Carrying Value	1,113.3	1,111.1
Product Care [Member]
Goodwill [Line Items]
Impact of Foreign Currency Translation	0.2
Gross Carrying Value	1,373.0	1,372.8
Accumulated Impairment	0.0
Carrying Value	1,373.0	1,372.8
Other [Member]
Goodwill [Line Items]
Impact of Foreign Currency Translation	0.3
Gross Carrying Value	5.3	5.0
Accumulated Impairment	0.0
Carrying Value	$ 5.3	$ 5.0

Goodwill and Identifiable Intangible Assets - Additional Information (Detail)	Jun. 30, 2014 Indicator
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment indicators	0

Goodwill and Identifiable Intangible Assets - Summarize of Identifiable Intangible Assets with Definite and Indefinite Useful Lives (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Finite And Infinite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 2,139.7	$ 2,139.4
Accumulated Amortization	(377.2)	(321.2)
Accumulated Impairment	(801.3)	(801.3)
Net Carrying Value	961.2	1,016.9
Customer Relationships [Member]
Finite And Infinite Lived Intangible Assets [Line Items]
Gross Carrying Value	955.7	961.3
Accumulated Amortization	(198.2)	(171.2)
Accumulated Impairment	(148.9)	(148.9)
Net Carrying Value	608.6	641.2
Trademarks and Trade Names [Member]
Finite And Infinite Lived Intangible Assets [Line Items]
Gross Carrying Value	881.5	881.5
Accumulated Amortization	(0.1)	(0.1)
Accumulated Impairment	(630.2)	(630.2)
Net Carrying Value	251.2	251.2
Technology [Member]
Finite And Infinite Lived Intangible Assets [Line Items]
Gross Carrying Value	258.2	252.6
Accumulated Amortization	(152.8)	(128.0)
Accumulated Impairment	(22.2)	(22.2)
Net Carrying Value	83.2	102.4
Contracts [Member]
Finite And Infinite Lived Intangible Assets [Line Items]
Gross Carrying Value	44.3	44.0
Accumulated Amortization	(26.1)	(21.9)
Accumulated Impairment
Net Carrying Value	$ 18.2	$ 22.1

Goodwill and Identifiable Intangible Assets - Remaining Estimated Future Amortization Expense (Detail) $ in Millions	Jun. 30, 2014 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2014	$ 53.3
2015	88.7
2016	84.8
2017	79.3
2018	70.2
Thereafter	333.8
Total	$ 710.1

Accounts Receivable Securitization Programs - Additional Information (Detail) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014 USD ($)	Jun. 30, 2013 USD ($)	Jun. 30, 2014 USD ($) Bank	Jun. 30, 2013 USD ($)	Jun. 30, 2014 EUR (€)
Servicing Assets at Fair Value [Line Items]
Amount utilized under accounts receivable securitization program	$ 217.0		$ 217.0
Interest expense	$ 73.9	$ 89.7	$ 152.4	$ 180.5
Weighted average interest rate of borrowings	1.22%		1.22%		1.22%
U.S. Accounts Receivable Securitization Program [Member]
Servicing Assets at Fair Value [Line Items]
Number of banks involved in sale of fractional ownership interest of accounts receivable \| Bank			2
Maximum purchase limit for receivable interests under accounts receivable securitization program	$ 125.0		$ 125.0
Level of eligible assets available under accounts receivable securitization program	Lower than $125 million		Less than $125 million
Amount available for accounts receivable securitization program	$ 92.0		$ 92.0
Accounts receivable expiration date			2014-09
Amount utilized under accounts receivable securitization program	88.0		$ 88.0
European Accounts Receivable Securitization Program [Member]
Servicing Assets at Fair Value [Line Items]
Number of banks involved in sale of fractional ownership interest of accounts receivable \| Bank			2
Maximum purchase limit for receivable interests under accounts receivable securitization program	129.0		$ 129.0		€ 95
Amount available for accounts receivable securitization program	129.0		$ 129.0		95
Accounts receivable expiration date			2015-02
Amount utilized under accounts receivable securitization program	$ 129.0		$ 129.0		€ 95
U.S. and European Accounts Receivable Securitization Programs [Member]
Servicing Assets at Fair Value [Line Items]
Interest expense			$ 1.0

Restructuring Activities - Restructuring Activities (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Restructuring Cost And Reserve [Line Items]
Other associated costs	$ 8.5	$ 5.0	$ 12.6	$ 10.3
Restructuring charges	14.1	11.9	20.2	11.7
Total	22.6	16.9	32.8	22.0
IOP [Member]
Restructuring Cost And Reserve [Line Items]
Other associated costs	0.6	3.2	2.0	8.5
Restructuring charges	4.2	(4.8)	5.5	(5.0)
Total	4.8	(1.6)	7.5	3.5
EQIP [Member]
Restructuring Cost And Reserve [Line Items]
Other associated costs	7.9	1.8	10.6	1.8
Restructuring charges	9.9	16.7	14.7	16.7
Total	$ 17.8	$ 18.5	$ 25.3	$ 18.5

Restructuring Activities - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014 USD ($) Employees	Jun. 30, 2014 USD ($) Employees	Jun. 30, 2013 USD ($)
EQIP [Member]
Restructuring Cost And Reserve [Line Items]
Expected completed date of restructuring program		Dec. 31, 2016
Asset impairment of land held for sale	$ (4)
Restructuring payments		$ 72
Restructuring expected accrual to pay	38	38
Restructuring expected accrual remaining to pay	$ 5	5
Capital expenditures		$ 10	$ 0
EQIP [Member] \| Minimum [Member]
Restructuring Cost And Reserve [Line Items]
Reduction in headcount, employees \| Employees	750	750
Expected associated cost related to restructuring		$ 190
Capital expenditures related to restructuring and associated activities		50
EQIP [Member] \| Minimum [Member] \| Severance and Termination Benefits [Member]
Restructuring Cost And Reserve [Line Items]
Expected associated cost related to restructuring		105
EQIP [Member] \| Minimum [Member] \| Facility Relocation and Closures [Member]
Restructuring Cost And Reserve [Line Items]
Expected associated cost related to restructuring		$ 85
EQIP [Member] \| Maximum [Member]
Restructuring Cost And Reserve [Line Items]
Reduction in headcount, employees \| Employees	900	900
Expected associated cost related to restructuring		$ 210
Capital expenditures related to restructuring and associated activities		55
EQIP [Member] \| Maximum [Member] \| Severance and Termination Benefits [Member]
Restructuring Cost And Reserve [Line Items]
Expected associated cost related to restructuring		120
EQIP [Member] \| Maximum [Member] \| Facility Relocation and Closures [Member]
Restructuring Cost And Reserve [Line Items]
Expected associated cost related to restructuring		90
IOP [Member]
Restructuring Cost And Reserve [Line Items]
Capital expenditures		1	$ 7
Cumulative cash payments	$ 205	$ 205

Restructuring Activities - Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Restructuring Cost And Reserve [Line Items]
Cash payments during 2014	$ (49.9)	$ (45.0)
EQIP [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring accrual at December 31, 2013	55.9
Accrual and accrual adjustments	14.7
Cash payments during 2014	(28.0)
Effect of changes in foreign currency exchange rates	0.3
Restructuring accrual at June 30, 2014	42.9
IOP [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring accrual at December 31, 2013	24.5
Accrual and accrual adjustments	5.5
Cash payments during 2014	(13.3)
Effect of changes in foreign currency exchange rates	(0.2)
Restructuring accrual at June 30, 2014	$ 16.5

Debt and Credit Facilities - Total Debt Outstanding (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Short-term borrowings	$ 644.0	$ 81.6
Current portion of long-term debt	69.8	201.5
Total current debt	713.8	283.1
Other	2.5	2.3
Total long-term debt, less current portion	4,054.9	4,116.4
Total debt	4,768.7	4,399.5
Term Loan A Facility Noncurrent [Member]
Debt Instrument [Line Items]
Credit facility amount outstanding	571.5	634.8
Term Loan B Facility Noncurrent [Member]
Debt Instrument [Line Items]
Credit facility amount outstanding	680.8	681.6
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	426.5	424.1
8.375% Senior Notes Due September 2021 [Member]
Debt Instrument [Line Items]
Senior Notes	750.0	750.0
5.25% Senior Notes Due April 2023 [Member]
Debt Instrument [Line Items]
Senior Notes	425.0	425.0
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, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Weighted average interest rate	5.70%	6.20%
Amount outstanding under accounts receivable securitization program	$ 217.0
Revolving credit facilities	305.0
Current portion of long term debt	$ 69.8	$ 201.5
12% Senior Notes Due February 2014 [Member]
Debt Instrument [Line Items]
Debt interest rate	12.00%	12.00%
Senior Notes	$ 150.0
Percentage of Senior Notes repaid	12.00%
Term Loan A Facility Noncurrent [Member]
Debt Instrument [Line Items]
Unamortized lender fees	$ 6.1	$ 8.4
Term Loan B Facility Noncurrent [Member]
Debt Instrument [Line Items]
Unamortized lender fees	6.6	7.3
Unamortized discount	$ 9.7	$ 10.8
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%
5.25% Senior Notes Due April 2023 [Member]
Debt Instrument [Line Items]
Debt interest rate	5.25%	5.25%
6.875% Senior Notes Due July 2033 [Member]
Debt Instrument [Line Items]
Unamortized discount	$ 1.4	$ 1.4
Debt interest rate	6.875%	6.875%
Term Loan A Facility [Member]
Debt Instrument [Line Items]
Current portion of long term debt	$ 68.0

Debt and Credit Facilities - Additional Information (Detail) - Second Amended and Restated Credit Agreement [Member] - USD ($) $ in Millions		6 Months Ended
	Jul. 25, 2014	Jun. 30, 2014
Debt Instrument [Line Items]
Credit facility agreemtnt date		Jul. 25, 2014
Credit facility, description		(i) the refinancing of the term loan A facilities, term loan B facilities and revolving credit facilities with new term loan A facilities (including facilities in Canadian dollars, euros, Japanese yen, pounds sterling and U.S. dollars) in an aggregate principal amount equivalent to $1,330 million and revolving credit facilities of $700 million, (ii) a new $100 million delayed draw term loan A facility, (iii) a 0.75% reduction of the interest rate margin for the term loan A facilities and revolving credit facilities, (iv) extension of the final maturity of the term loan A facilities and revolving credit commitment to July 25, 2019, (v) adjustments to the financial maintenance covenant of Consolidated Net Debt to Consolidated EBITDA (as defined in the Second Amended and Restated Credit Agreement) and other covenants to provide additional flexibility to the Company and (vi) other amendments.
Term Loan A Facility [Member]
Debt Instrument [Line Items]
Credit facility, maturity date		Jul. 25, 2019
Subsequent Event [Member] \| Term Loan A Facility [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,330
Decrease in interest margin	0.75%
Subsequent Event [Member] \| Delayed Draw Term Loan A Facility [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 100
Subsequent Event [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount outstanding under revolving credit facility	$ 700

Debt and Credit Facilities - Lines of Credit (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
Used lines of credit	$ 644.0	$ 81.6
Unused lines of credit	642.2	1,224.0
Total available lines of credit	$ 1,286.2	$ 1,305.6

Debt and Credit Facilities - Lines of Credit (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Line Of Credit Facility [Line Items]
Total available lines of credit	$ 1,286.2	$ 1,305.6
Committed Line of Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Total available lines of credit	$ 945.0

Derivatives and Hedging Activities - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2014 USD ($) Derivative	Dec. 31, 2013 USD ($) Derivative
Derivative Instruments Gain Loss [Line Items]
Notional amount of outstanding interest rate swaps \| $	$ 100	$ 100
Number of foreign exchange options outstanding	0	0
Number of interest rate and currency swap agreements outstanding	0	0
Minimum [Member] \| Foreign Currency Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Maturity period of foreign currency forward contracts	12 months
Maximum [Member] \| Foreign Currency Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Maturity period of foreign currency forward contracts	18 months

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	$ 3.7	$ 10.5
Fair Value of (Liability) Derivatives	(38.7)	(51.4)
Foreign Currency Forward Contracts [Member] \| Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	0.3	3.4
Fair Value of (Liability) Derivatives	(2.4)	(1.3)
Foreign Currency Forward Contracts [Member] \| Not Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	1.9	7.1
Fair Value of (Liability) Derivatives	(36.3)	(49.1)
Interest Rate Swaps [Member] \| Designated as Hedging Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair Value of Asset Derivatives	1.5
Fair Value of (Liability) Derivatives		$ (1.0)

Derivatives and Hedging Activities - Effect of Derivative Instruments on Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized on Derivatives in Earnings	$ (2.4)	$ 4.1	$ (2.7)	$ (16.0)
Designated as Hedging Instruments [Member] \| Foreign Currency Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized on Derivatives in Earnings	(1.1)	0.5	1.2	0.2
Designated as Hedging Instruments [Member] \| Interest Rate Swaps [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized on Derivatives in Earnings	0.5		1.0
Not Designated as Hedging Instruments [Member] \| Foreign Currency Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized on Derivatives in Earnings	$ (1.8)	$ 3.6	$ (4.9)	$ (16.2)

Fair Value Measurements and Other Financial Instruments - Fair Value Hierarchy of Financial Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 59.5	$ 491.9
Interest Rate Swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	1.5	(1.0)
Foreign Currency Forward Contracts [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	(36.5)	(40.0)
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	59.5	491.9
Level 2 [Member] \| Interest Rate Swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	1.5	(1.0)
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)	$ (36.5)	$ (40.0)

Fair Value Measurements and Other Financial Instruments - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other foreign loans, Carrying Amount	$ 255.1	$ 85.0
Other domestic loans, Carrying Amount	393.3	0.4
Total debt, Carrying Amount	4,768.7	4,399.5
Other foreign loans, Fair Value	254.9	84.9
Other domestic loans, Fair Value	393.3	0.4
Total debt, Fair Value	5,036.4	4,599.1
12% Senior Notes Due February 2014 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes, Carrying Amount		150.3
Senior Notes, Fair Value		150.6
Term Loan A Facility Due October 2016 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Credit Facility, Carrying Amount	638.5	684.5
Credit Facility, Fair Value	638.5	684.5
Term Loan B Facility Due October 2018 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Credit Facility, Carrying Amount	681.7	681.6
Credit Facility, Fair Value	681.7	681.6
8.125% Senior Notes Due September 2019 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes, Carrying Amount	750.0	750.0
Senior Notes, Fair Value	831.9	841.4
6.50% Senior Notes Due December 2020 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes, Carrying Amount	426.5	424.1
Senior Notes, Fair Value	480.0	456.7
8.375% Senior Notes Due September 2021 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes, Carrying Amount	750.0	750.0
Senior Notes, Fair Value	860.0	853.1
5.25% Senior Notes Due April 2023 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes, Carrying Amount	425.0	425.0
Senior Notes, Fair Value	433.7	414.7
6.875% Senior Notes Due July 2033 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes, Carrying Amount	448.6	448.6
Senior Notes, Fair Value	$ 462.4	$ 431.2

Fair Value Measurements and Other Financial Instruments - Carrying Amounts and Estimated Fair Values of Debt (Parenthetical) (Detail) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other foreign loans, Carrying Amount	$ 255.1	$ 85.0
Other domestic loans	$ 393.3	$ 0.4
12% Senior Notes Due February 2014 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	12.00%	12.00%
8.125% Senior Notes Due September 2019 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	8.125%	8.125%
6.50% Senior Notes Due December 2020 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	6.50%	6.50%
8.375% Senior Notes Due September 2021 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	8.375%	8.375%
5.25% Senior Notes Due April 2023 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	5.25%	5.25%
6.875% Senior Notes Due July 2033 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	6.875%	6.875%
Revolving Credit Facility [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other domestic loans	$ 305.0
U.S. Accounts Receivable Securitization Program [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other domestic loans	88.0
European Accounts Receivable Securitization Program [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other foreign loans, Carrying Amount	$ 129.0

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]
Income tax benefit rate	35.40%	24.80%	24.90%	13.70%
Effective income tax rate, benefited from certain favorable discrete items			$ 14.0
Effective income tax rate, favorable tax settlement			7.0
Effective income tax rate, reserves, statute of limitations and a successful judicial verdict			7.0
Foreign currency exchange losses related to Venezuelan subsidiaries	$ 0.2	$ (0.5)	(14.8)	$ (13.6)
Reduction in unrecognized tax benefits			$ 7.0

Commitments and Contingencies - Additional Information (Detail) € in Millions, $ in Millions	Jun. 30, 2014 USD ($)	Jun. 30, 2014 EUR (€)	May 25, 2010 EUR (€)
Commitments And Contingencies Disclosure [Abstract]
Repayment of grant monies paid	$ 14	€ 10	€ 5

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions						3 Months Ended		6 Months Ended
	Jun. 20, 2014	Jun. 13, 2014	May 22, 2014	Mar. 21, 2014	Feb. 18, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchase value		$ 130.0				$ 427.2		$ 427.2		$ 327.6
Number of common stock shares repurchased		3,932,244
Common stock repurchase price per share		$ 33.06
Dividends paid								56.0	$ 50.9
Compensation expense						1.7	$ 0.1	2.2	18.1
Share-based compensation expense						11.9	7.3	26.4	14.9
Unrecognized pension items						143.8		143.8		$ 146.2
Reclassification of unrecognized pension items, net of taxes from accumulated other comprehensive income						$ 1.0		$ 2.0
Common Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock in treasury, value increase		$ 130.0
Committed Credit Facility [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Funding of stock repurchase program		110.0
Cash and Cash Equivalents [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Funding of stock repurchase program		$ 20.0
Restructuring Charges [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense									1.0
Second Installment [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividends declared, date								May 22, 2014
Dividends declared per common share			$ 0.13
Dividends declared, payable date								Jun. 20, 2014
Dividends payable, date of record								Jun. 06, 2014
Dividends paid	$ 28.0
First Installment [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividends declared, date								Feb. 18, 2014
Dividends declared per common share					$ 0.13
Dividends declared, payable date								Mar. 21, 2014
Dividends payable, date of record								Mar. 07, 2014
Dividends paid				$ 28.0
Stock Appreciation Rights Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding SARs						600,000		600,000
Remaining unvested SARs						300,000		300,000
Stock Appreciation Rights Expense [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining vesting life								1 year
Stock Appreciation Rights Expense [Member] \| General and Administrative Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense						$ 2.0		$ 2.0	18.0
Payments due to exercise of SARs								17.0	$ 28.0
Liability for SARs						19.0		19.0
Stock Appreciation Rights Expense [Member] \| General and Administrative Expense [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense							$ 1.0
Stock Appreciation Rights Expense [Member] \| Restructuring Charges [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payments due to exercise of SARs								0.0
Liability for SARs						0.0		0.0
Performance Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Adjusted free cash flow								$ 1,700.0
PSU awards performance period								3 years
Percentage of reduction in amount earned based on free cash flow performance								25.00%
Stock incentive plan description								To further balance the incentives, the amount earned based on adjusted free cash flow performance will be reduced by 25% if our relative Total Stockholder Return (as defined in the award) for the performance period is below a certain percentile of an approved peer group of companies.
PSU program pay out description								50% of any PSUs earned during the performance period will be paid out in early 2017. The remaining 50% of the earned PSUs is subject to an additional 2017 performance requirement, the ratio of working capital to net trade sales for 2017 (as defined in the award) and will be paid out in early 2018.
Share-based compensation expense						$ 2.0		$ 4.0

Stockholders' Equity - Total Share-based Compensation Expense (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Total share-based incentive compensation expense	$ 11.9	$ 7.3	$ 26.4	$ 14.9

Other (Expense), Net - Details of Other (Expense), Net (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Other Income And Expenses [Abstract]
Interest and dividend income	$ 3.0	$ 2.4	$ 6.6	$ 5.6
Net foreign exchange transaction losses	(2.6)	(3.8)	(4.6)	(5.4)
Bank fee expense	(1.7)	(1.7)	(3.3)	(3.3)
Other, net	(3.5)	(0.2)	(3.1)	0.1
Other (Expense), net	$ (4.8)	$ (3.3)	$ (4.4)	$ (3.0)

Other (Expense), Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Other Commitments [Line Items]
Claims Settlement agreement date		February 3, 2014
Gain on Settlement agreement	$ 0.0	$ 21.1
Impairment of equity method investment	$ 6.0	5.9
Release of Certain Tax Liabilities [Member]
Other Commitments [Line Items]
Gain on Settlement agreement		17.0
Release of Other Liabilities [Member]
Other Commitments [Line Items]
Gain on Settlement agreement		$ 4.0

Net Earnings (Loss) Per Common Share - Calculation of Basic and Diluted Net Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Numerator
Net earnings available to common stockholders	$ 60.3	$ 56.3	$ 132.1	$ 59.0
Distributed and allocated undistributed net earnings to non-vested restricted stockholders	(0.3)	(0.2)	(0.7)	(0.3)
Distributed and allocated undistributed net earnings to common stockholders	60.0	56.1	131.4	58.7
Distributed net earnings - dividends paid to common stockholders	(27.9)	(25.3)	(55.6)	(50.6)
Allocation of undistributed net earnings to common stockholders	$ 32.1	$ 30.8	$ 75.8	$ 8.1
Denominator
Weighted average number of common shares outstanding - basic	213.5	194.8	210.1	194.3
Basic net earnings per common share:
Distributed net earnings to common stockholders	$ 0.13	$ 0.13	$ 0.26	$ 0.26
Allocated undistributed net earnings (loss) to common stockholders	0.15	0.16	0.37	0.04
Net earnings per common share-basic	$ 0.28	$ 0.29	$ 0.63	$ 0.30
Numerator
Distributed and allocated undistributed net earnings to common stockholders	$ 60.0	$ 56.1	$ 131.4	$ 58.7
Add: Allocated undistributed net earnings to non-vested restricted stockholders	0.2	0.1	0.5	0.1
Less: Undistributed net earnings reallocated to non-vested restricted stockholders	(0.2)	(0.1)	(0.5)	(0.1)
Net earnings available to common stockholders - diluted	$ 60.0	$ 56.1	$ 131.4	$ 58.7
Denominator
Weighted average number of common shares outstanding - basic	213.5	194.8	210.1	194.3
Effect of assumed issuance of Settlement agreement shares		18.0	3.3	18.0
Effect of non-vested restricted stock units	1.2	0.8	1.2	0.9
Weighted average number of common shares outstanding - diluted	214.7	213.6	214.6	213.2
Diluted net earnings per common share	$ 0.28	$ 0.26	$ 0.61	$ 0.28