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Trade receivables, net of allowance for doubtful accounts of $24.9 in 2015 and $28.8 in 2014

$ 358.4

$ 286.4

^{[1],[2],[3],[4],[5]}

758.4

1,002.0

^[1],[2],[3]

Income tax receivables

22.7

277.0

^[1],[2],[3]

Other receivables

124.8

126.8

^[1],[2],[3]

Inventories, net of inventory reserves of $21.9 in 2015 and $29.0 in 2014

660.8

688.5

^{[1],[2],[3],[6]}

Prepaid expenses and other current assets

10.3

106.4

^[1],[2],[3]

280.2

131.5

^[1],[2],[3]

Total current assets

2,215.6

2,618.6

^[1],[2],[3]

930.7

943.0

^{[1],[2],[3],[7]}

2,909.5

2,996.9

^{[1],[2],[3],[8]}

Intangible assets, net

784.3

872.2

^{[1],[2],[3],[9]}

Deferred taxes

204.7

122.9

^[1],[2],[3]

Other non-current assets

381.2

399.6

^[1],[2],[3]

Total assets

7,426.0

7,953.2

^[1],[2],[3]

Current liabilities:

Current portion of long-term debt

241.9

143.3

^[1],[2],[3]

46.6

1.0

^[1],[2],[3]

Accounts payable

675.3

624.2

^[1],[2],[3]

Accrued restructuring costs

^[1],[2],[3]

13.0

53.6

55.8

^[1],[2],[3]

Other current liabilities

789.7

889.9

^[1],[2],[3]

Total current liabilities

1,807.1

1,727.2

^[1],[2],[3]

Long-term debt, less current portion

4,302.7

4,282.0

^[1],[2],[3]

Deferred taxes

75.0

77.1

^[1],[2],[3]

Other non-current liabilities

714.1

704.1

^[1],[2],[3]

Total liabilities

6,898.9

6,790.4

^[1],[2],[3]

Commitments and contingencies

^[1],[2],[3]

Stockholders’ equity:

Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2015 and 2014

^[1],[2],[3]

Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 225,625,636 in 2015 and 224,683,653 in 2014; shares outstanding: 196,013,299 in 2015 and 210,531,894 in 2014

22.6

22.5

^[1],[2],[3]

Additional paid-in capital

1,915.0

1,787.0

^[1],[2],[3]

Retained earnings

675.2

448.5

^[1],[2],[3]

Common stock in treasury, 29,612,337 shares in 2015 and 14,151,759 shares in 2014

(1,265.7)

(481.4)

^[1],[2],[3]

Accumulated other comprehensive loss, net of taxes:

Unrecognized pension items

(266.0)

(250.1)

^[1],[2],[3]

Unrealized net gain (loss) on derivative instruments for net investment hedge

(564.0)

(369.9)

^[1],[2],[3]

1.7

Unrealized net gain (loss) on derivative instruments for cash flow hedge

8.3

6.2

^[1],[2],[3]

Total accumulated other comprehensive loss, net of taxes

^[10],[11]

(820.0)

(613.8)

^[1],[2],[3]

Total stockholders’ equity

527.1

1,162.8

^[1],[2],[3]

Total liabilities and stockholders’ equity

$ 7,426.0

$ 7,953.2

^[1],[2],[3]

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[4]	For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Consolidated Balance Sheets for the years ended December 31, 2014 and 2013. As a result, corresponding changes were made on the Consolidated Statement of Cash Flows. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[5]	Interest payments in 2014 include $417 million related to the Settlement agreement
[6]	Excludes North American foam trays and absorbent pads and European food trays business inventory. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[7]	Excludes North American foam trays and absorbent pads and European food trays business property and equipment, net. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[8]	Excludes North American foam trays and absorbent pads and European food trays business goodwill. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[9]	Excludes North American foam trays and absorbent pads business intangible assets. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[10]	(1) For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified within Accumulated Other Comprehensive Loss (“AOCI”) on the Consolidated Balance Sheet. Refer Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[11]	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $31.1 million as of December 31, 2015 and $58.9 million as of December 31, 2014.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Trade receivables, net of allowance for doubtful accounts	$ 24.9	$ 28.8
Inventory reserves	$ 21.9	$ 29.0
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	225,625,636	224,683,653
Common stock, shares outstanding	196,013,299	210,531,894
Common stock in treasury, shares	29,612,337	14,151,759
Reclassification of accounts payable to short term borrowings		$ 13.0
Reclassification of cash to other assets related to cash used as collateral		36.0
Decrease in current deferred tax assets		105.6
Increase in non-current deferred tax assets		17.0
Decrease in current deferred tax liabilities		4.8
Decrease in non-current deferred tax liabilities		83.8
North American Foam Trays and Absorbent Pads [Member]
Assets held for sale		42.0
Liabilities held for sale		6.0
European Food Trays Businesses [Member]
Assets held for sale		37.0
Liabilities held for sale		$ 7.0

Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Income Statement [Abstract]

Selling, general and administrative expenses

$ 7,031.5

$ 7,750.5

$ 7,690.8

Cost of sales

4,444.9

5,062.9

5,100.9

Gross profit

2,586.6

2,687.6

2,589.9

1,652.3

1,841.3

1,750.2

Amortization expense of intangible assets acquired

88.7

118.9

123.2

Stock appreciation rights expense

3.9

8.1

38.1

78.3

65.7

73.8

Operating profit

763.4

653.6

604.6

Interest expense

(227.7)

(287.7)

(361.0)

Foreign currency exchange loss related to Venezuelan subsidiaries

^[1]

(5.7)

^[2]

(2.1)

(33.1)

(20.4)

(13.1)

Gain from Claims Settlement

^[1],[2]

21.1

Gain on sale of business, net

(110.0)

(102.5)

^[1],[2]

(36.3)

^[1]

13.4

Other income (expense) , net

19.9

8.8

(11.9)

Earnings from continuing operations before income tax provision

425.9

267.2

180.2

Net earnings from continuing operations

90.5

9.1

84.9

335.4

258.1

^[1],[2]

95.3

^[1]

Net earnings from discontinued operations

7.6

Net gain on sale of discontinued operations

22.9

Net earnings per common share - basic

$ 335.4

$ 258.1

^[3]

$ 125.8

^[3]

Basic

Continuing operations

$ 1.63

$ 1.22

$ 0.49

Discontinued operations

0.16

1.63

1.22

0.65

Diluted

Continuing operations

1.62

1.20

0.44

Discontinued operations

0.14

Net earnings per common share - diluted

1.62

1.20

0.58

Dividends per common share

$ 0.52

Weighted average number of common shares outstanding:

Basic

203.9

210.0

194.6

Diluted

206.7

213.9

214.2

[1]	For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Consolidated Balance Sheets for the years ended December 31, 2014 and 2013. As a result, corresponding changes were made on the Consolidated Statement of Cash Flows. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	Interest payments in 2014 include $417 million related to the Settlement agreement
[3]	For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified on the Consolidated Statements of Comprehensive Income (Loss) in deferred pension items and unrealized losses on cash flow hedge derivative instruments. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.

Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

^[1]

Dec. 31, 2013

^[1]

Net earnings available to common stockholders

$ 335.4

$ 258.1

$ 125.8

Other comprehensive (loss) income, net of taxes:

Recognition of deferred pension items, net of taxes of $5.4 for 2015, $36.0 for 2014 and $5.1 for 2013

(15.9)

(106.8)

(1.1)

Foreign currency translation adjustments, net of tax of $15.3 million for 2015, $6.6 million in 2014

(194.1)

(232.2)

(113.6)

Comprehensive income (loss), net of taxes

(206.2)

(336.4)

(112.5)

129.2

(78.3)

13.3

Net Investment Hedge [Member]

Other comprehensive (loss) income, net of taxes:

Unrealized losses on derivative instruments, net of taxes

1.7

Cash Flow Hedge [Member]

Other comprehensive (loss) income, net of taxes:

Unrealized losses on derivative instruments, net of taxes

$ 2.1

$ 2.6

$ 2.2

[1]

For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified on the Consolidated Statements of Comprehensive Income (Loss) in deferred pension items and unrealized losses on cash flow hedge derivative instruments. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Beginning Balance at Dec. 31, 2012

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Recognition of deferred pension items, taxes	$ 5.4	$ 36.0	$ 5.1
Foreign currency translation adjustments, tax	15.3	6.6
Net Investment Hedge [Member]
Unrealized losses on derivative instruments, taxes	(1.1)	0.0	0.0
Cash Flow Hedge [Member]
Unrealized losses on derivative instruments, taxes	$ 0.3	$ (1.7)	$ (0.9)

Consolidated Statements of Stockholders' Equity - USD ($)
$ in Millions

Total

Common Stock [Member]

Common Stock Reserved for Issuance Related to the Settlement Agreement [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Common Stock in Treasury [Member]

Accumulated Other Comprehensive Loss, Net of Taxes [Member]

Total Parent Company Stockholders' Equity [Member]

Non-Controlling Interests [Member]

$ 1,468.5

$ 20.5

$ 1.8

$ 1,685.0

$ 279.0

$ (353.4)

$ (164.9)

$ 1,468.0

$ 0.5

Effect of contingent stock transactions

18.4

0.1

22.2

(3.9)

18.4

Stock issued for share-based incentive compensation

18.9

(10.8)

29.7

18.9

Recognition of deferred pension items, net of taxes

(1.1)

^[1]

(1.1)

Unrealized loss (earnings) on derivative instruments, net of taxes

(113.6)

^[1]

(113.6)

2.2

Noncontrolling interests

(0.2)

(1.1)

0.9

Net loss (earnings)

125.8

^[1]

125.8

Dividends on common stock ($0.52 per share)

(102.6)

Ending Balance at Dec. 31, 2013

1,416.3

20.6

1.8

1,695.3

302.2

(327.6)

(277.4)

1,414.9

1.4

Effect of contingent stock transactions

52.9

0.1

55.8

(3.0)

52.9

Stock issued for share-based incentive compensation

31.8

(1.4)

33.2

31.8

Repurchases of common stock

(184.0)

Recognition of deferred pension items, net of taxes

(106.8)

^[1]

(106.8)

Unrealized loss (earnings) on derivative instruments, net of taxes

(232.2)

^[1]

(232.2)

2.6

Noncontrolling interests

(1.8)

(0.4)

$ (1.4)

Net loss (earnings)

258.1

^[1]

258.1

Dividends on common stock ($0.52 per share)

(111.8)

Ending Balance at Dec. 31, 2014

1,162.8

22.5

1,787.0

448.5

(481.4)

(613.8)

1,162.8

Settlement share transfer and excess tax benefit

37.7

1.8

$ (1.8)

37.7

Effect of contingent stock transactions

49.3

0.1

58.6

(9.4)

49.3

Stock issued for share-based incentive compensation

50.3

23.2

27.1

50.3

Repurchases of common stock

(802.0)

Recognition of deferred pension items, net of taxes

(15.9)

Unrealized loss (earnings) on derivative instruments, net of taxes

(194.1)

3.8

Settlement share transfer and excess tax benefit

^[2]

46.2

Net loss (earnings)

335.4

Dividends on common stock ($0.52 per share)

(108.7)

Ending Balance at Dec. 31, 2015

$ 527.1

$ 22.6

$ 1,915.0

$ 675.2

$ (1,265.7)

$ (820.0)

$ 527.1

[1]

[2]

In 2015, we recorded an out of period adjustment of $46 million related to excess tax benefits from the Settlement agreement. Refer to Note 16, “Income Taxes” of the notes to Consolidated Financial Statements for further details.

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($)
$ in Millions

1 Months Ended

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Statement Of Stockholders Equity [Abstract]

Dividends per share on common stock

$ 0.52

Settlement share transfer and excess tax benefit

$ (46.0)

$ (38.0)

$ 46.2

^[1]

[1]	In 2015, we recorded an out of period adjustment of $46 million related to excess tax benefits from the Settlement agreement. Refer to Note 16, “Income Taxes” of the notes to Consolidated Financial Statements for further details.

Consolidated Statements of Cash Flows - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Statement Of Cash Flows [Abstract]

Net earnings available to common stockholders from continuing operations

$ 335.4

$ 258.1

^[1],[2]

$ 95.3

^[1]

Adjustments to reconcile net earnings to net cash provided by (used in) operating activities

Share-based incentive compensation

213.3

266.7

^[1],[2]

283.4

^[1]

^[3]

61.2

54.1

^[1],[2]

24.1

^[1]

Profit sharing expense

36.0

36.7

^[1],[2]

34.7

^[1]

Remeasurement loss related to Venezuelan subsidiaries

110.0

102.5

^[1],[2]

36.3

^[1]

33.1

20.4

^[1],[2]

13.1

^[1]

Development grant matter

^[1],[2]

14.0

Provisions (recovery) for inventory obsolescence

^[1]

5.7

^[2]

2.1

Asset impairment

^[1],[2]

4.0

Provisions for bad debt

5.8

8.0

^[1],[2]

11.6

^[1]

(0.2)

9.2

^[1],[2]

(0.3)

^[1]

Gain from Claims Settlement

^[1],[2]

(21.1)

Deferred taxes, net

(22.6)

146.2

^[1],[2]

3.8

^[1]

Excess tax benefit from Common Stock issued in the Settlement agreement

^[4]

(46.2)

(37.7)

^[1],[2]

Excess tax benefit from stock based compensation

(13.1)

Net (gain) loss on disposals of property and equipment and other

(3.3)

0.8

^[1],[2]

(1.4)

^[1]

Gain on sale of business

(24.6)

Other non-cash items, net

4.9

0.4

^[1],[2]

33.1

^[1]

Changes in operating assets and liabilities:

Trade receivables, net

36.7

(27.8)

^[1],[2]

35.5

^[1]

Settlement agreement and related items

(38.3)

(48.7)

^[1],[2]

22.0

^[1]

Accounts payable

81.3

146.5

^[1],[2]

36.3

^[1]

Income tax receivable

32.2

(214.6)

^[1],[2]

(22.5)

^[1]

^[4]

235.2

(929.7)

^[1],[2]

48.2

^[1]

Other assets and liabilities

(69.1)

(8.4)

^[1],[2]

(14.9)

^[1]

Net cash provided by (used in) operating activities

967.7

(214.7)

^[1],[2]

640.4

^[1]

Cash flows from investing activities:

(184.0)

(153.9)

^[1],[2]

(116.0)

^[1]

Businesses acquired in purchase transactions, net of cash and cash equivalents acquired

94.6

(27.5)

(3.6)

^[1],[2]

(1.0)

^[1]

Proceeds from sales of property, equipment and other assets

32.9

16.1

^[1],[2]

11.6

^[1]

Settlement of foreign currency forward contracts

24.0

15.1

^[1],[2]

(8.5)

^[1]

Net cash used in investing activities

(60.0)

(126.3)

^[1],[2]

(113.9)

^[1]

Cash flows from financing activities:

Net proceeds from short-term borrowings

111.3

72.7

^[1],[2]

53.2

^[1]

Cash used as collateral on borrowing arrangements

(20.3)

(36.2)

^[1],[2]

Proceeds from long-term debt

855.0

2,282.6

^[1],[2]

425.1

^[1]

Payments of long-term debt

(754.3)

(2,290.6)

^[1],[2]

(658.3)

^[1]

Excess tax benefit from Common Stock issued in the Settlement agreement

46.2

37.7

^[1],[2]

Excess tax benefit from stock based compensation

13.1

(0.1)

^[1]

Dividends paid on common stock

(106.8)

(110.9)

^[1],[2]

(102.0)

^[1]

Repurchases of common stock

(802.0)

(184.0)

^[1],[2]

Payments for debt issuance costs

(8.8)

(24.3)

^[1],[2]

(7.7)

^[1]

Payments for debt extinguishment costs

(99.4)

(74.7)

^[1],[2]

(26.2)

^[1]

Other financing activities

(9.3)

0.1

^[1],[2]

(3.9)

^[1]

Net cash used in financing activities

(775.3)

(327.6)

^[1],[2]

(319.9)

^[1]

Effect of foreign currency exchange rate changes on cash and cash equivalents

(60.4)

(37.4)

^[1],[2]

(20.8)

^[1]

Net change in cash and cash equivalents from continuing operations

72.0

(706.0)

^[1],[2]

185.8

^[1]

Net cash provided by operating activities from discontinued operations

^[1]

6.4

Net cash provided by investing activities from discontinued operations

^[1]

120.6

Net change in cash and cash equivalents from discontinued operations

^[1]

127.0

Balance, beginning of period

^[1]

286.4

^{[2],[5],[6],[7]}

992.4

^[2]

679.6

Net change during the period

72.0

(706.0)

^[1],[2]

312.8

^[1]

Balance, end of period

358.4

286.4

^{[1],[2],[5],[6],[7]}

992.4

^[1],[2]

Supplemental Cash Flow Information:

Interest payments, net of amounts capitalized

229.7

710.4

^[1],[2]

289.7

^[1]

Income tax payments

101.6

85.1

^[1],[2]

114.8

^[1]

Stock appreciation rights payments (less amounts included in restructuring payments)

20.7

21.1

^[1],[2]

46.0

^[1]

Transfers of shares of our common stock from treasury for our 2014, 2013, and 2012 profit-sharing plan contributions

98.3

108.1

^[1],[2]

107.0

^[1]

Non-cash items:

$ 36.7

33.2

^[1],[2]

$ 18.7

^[1]

Transfer of shares of our common stock as part of the funding of the Settlement agreement

^[1],[2]

$ 1.8

[1]	For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Consolidated Balance Sheets for the years ended December 31, 2014 and 2013. As a result, corresponding changes were made on the Consolidated Statement of Cash Flows. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	Interest payments in 2014 include $417 million related to the Settlement agreement
[3]	The amounts do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock as these contributions are not considered share-based incentive compensation.
[4]	During the first quarter of 2015, the Company received the tax refund of $235 million related to the Settlement agreement payment. During the first quarter of 2014, we used $930 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46 million as an out of period adjustment in December 2015 and $38 million in December 2014 related to the 18 million shares of Common Stock issued in connection with the Settlement agreement. See Note 16 “Income Taxes” for further discussion of the out of period adjustment.
[5]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[6]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[7]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Dec. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Statement Of Cash Flows [Abstract]
Interest payments related to settlement of agreement				$ 417.0
Tax refund related to settlement agreement payment		$ 235.0	$ (930.0)
Excess tax benefits from settlement agreement	$ 38.0
Common stock shares issued in connection with settlement agreement	18

Organization and Nature of Operations	12 Months Ended
Organization and Nature of Operations	Dec. 31, 2015
Accounting Policies [Abstract]
Organization and Nature of Operations	Note 1 Organization and Nature of Operations 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.

Summary of Significant Accounting Policies and Recently Issued Accounting Standards

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies and Recently Issued Accounting Standards

Note 2 Summary of Significant Accounting Policies and Recently Issued Accounting Standards

Summary of Significant Accounting Policies

Basis of Presentation

Our 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. All amounts are in millions, except per share amounts, and are approximate due to rounding.

During the first quarter of 2015, we entered into an asset purchase agreement with NOVIPAX, a portfolio company of Atlas Holdings LLC, to sell our North American foam trays and absorbent pads business. During the three months ended March 31, 2015, the North American foam trays and absorbent pads business met the held for sale criteria and was classified as such in all periods presented in our Consolidated Balance Sheets. In addition, effective November 1, 2015 we completed the sale of our European food trays business, which included Sealed Air’s manufacturing facilities in Poole, UK, and Bunol, Spain, to Faerch Plast A/S, a European food packaging solutions provider. During the fourth quarter of 2015, the European food trays business met the held for sale criteria and was classified as such in all periods presented in our Consolidated Balance Sheets. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

As of April 15, 2015, we realigned our regional organization which did not impact our reportable segments. There was no change to our previously reported Consolidated Balance Sheets, Consolidated Statements of Operations, Consolidated Statements of Comprehensive Income, Consolidated Statements of Stockholders’ Equity or Consolidated Statements of Cash Flows due to our change in regional organization. Refer to “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for further details on the realignment.

Reclassifications and Revisions

For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified on the Consolidated Statement of Cash Flows. The revision of the Consolidated Statement of Cash Flows for these items for the year ended December 31, 2014 has no impact on cash used in operating activities, resulted in a decrease to cash used in investing activities of $15.2 million and a decrease of $15.2 million related to the effect of foreign currency exchange rate changes on cash. The revision of the Consolidated Statement of Cash Flows for these items for the year ended December 31, 2013 resulted in an increase in cash provided by operating activities of $15.6 million, a decrease to cash used in investing activities of $8.5 million and an increase of in cash of $7.1 million related to the effect of foreign currency exchange rate changes on cash.

Additionally, for the year ended December 31, 2014, certain amounts related to external payment terms and compensating balance arrangements were misclassified in the Consolidated Balance Sheet and Consolidated Statement of Cash Flows. The revision of these items resulted in a decrease of $12.8 million in accounts payable and an increase of $12.8 million in short-term borrowings related to extended payment terms on a vendor agreement and a decrease of $36.2 million in cash and an increase in other current assets ($9.7 million) and other non-current assets ($26.5 million) related to cash deposits held in compensating balance arrangement for certain short-term borrowing agreements on the Consolidated Balance Sheet. The revision of these items on the Consolidated Statement of Cash Flows resulted in a decrease to cash provided by operating activities of $12.8 million and an increase to cash used in financing activities of $23.3 million.

For the years ended December 31, 2014 and 2013, certain foreign currency translation adjustments were misclassified on the Consolidated Balance Sheets within the components of Accumulated other comprehensive income, net of taxes, and on the Consolidated Statement of Comprehensive Income (Loss) within the Recognition of deferred pension items and Unrealized losses on derivative instruments for cash flow hedges. The revision of the Consolidated Balance Sheet as of December 31, 2014 for these items was a decrease to Unrecognized pension items of $13.6 million, an increase to Cumulative translation adjustment of $12.6 million, and an increase to Unrealized net gains (loss) on derivatives for cash flow hedges of $1.0 million. The revision of the Consolidated Statement of Comprehensive Income (Loss) for these items for the year ended December 31, 2014 resulted in a decrease in recognition of deferred pension items of $16.5 million, an increase in unrealized losses on derivative instruments for cash flow hedge of $0.6 million, and an increase in the foreign currency translation adjustments of $15.9 million. The revision of these items on the Consolidated Statement of Comprehensive Income (Loss) for these items for the year ended December 31, 2013 resulted in an increase in recognition of deferred pension items of $2.8 million, an increase in unrealized losses on derivative instruments for cash flow hedge of $0.5 million, and a decrease in the foreign currency translation adjustments of $3.3 million. These classification adjustments did not result in a change to total stockholders’ equity, total other comprehensive income (loss), net of taxes, or total comprehensive income (loss), net of taxes.

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 Consolidated Statements of Operations for the year ended December 31, 2013. See Note 3, “Divestitures and Acquisition,” for further information.

In addition, certain other prior period amounts have been reclassified to conform to the current year presentation. These reclassifications, individually and in the aggregate, had no impact on our consolidated financial condition, results of operations and cash flows.

Use of Estimates

The preparation of our Consolidated Financial Statements and related disclosures in conformity with U.S. GAAP requires our management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and revenue and expenses during the period reported. These estimates include, among other items, assessing the collectability of receivables, the use and recoverability of inventory, the estimation of fair value of financial instruments, assumptions used in the calculation of income taxes, useful lives and recoverability of tangible assets and goodwill and other intangible assets, assumptions used in our defined benefit pension plans and other post employment benefit plans, estimates related to self-insurance such as the aggregate liability for uninsured claims using historical experience, insurance and actuarial estimates and estimated trends in claim values, fair value measurement of assets, costs for incentive compensation and accruals for commitments and contingencies. We review these estimates and assumptions periodically using historical experience and other factors and reflect the effects of any revisions in the Consolidated Financial Statements in the period we determine any revisions to be necessary. Actual results could differ from these estimates.

Financial Instruments

We may use financial instruments, such as cross currency swaps, interest rate swaps, caps and collars, U.S. Treasury lock agreements and foreign currency exchange forward contracts and options relating to our borrowing and trade activities. We may use these financial instruments from time to time to manage our exposure to fluctuations in interest rates and foreign currency exchange rates. We do not purchase, hold or sell derivative financial instruments for trading purposes. We face credit risk if the counterparties to these transactions are unable to perform their obligations. Our policy is to have counterparties to these contracts that are rated at least BBB- by Standard & Poor’s and Baa3 by Moody’s.

We report derivative instruments at fair value and establish criteria for designation and effectiveness of transactions entered into for hedging purposes. Before entering into any derivative transaction, we identify our specific financial risk, the appropriate hedging instrument to use to reduce this risk, and the correlation between the financial risk and the hedging instrument. We use forecasts and historical data as the basis for determining the anticipated values of the transactions to be hedged. We do not enter into derivative transactions that do not have a high correlation with the underlying financial risk we are trying to reduce. We regularly review our hedge positions and the correlation between the transaction risks and the hedging instruments.

We account for derivative instruments as hedges of the related underlying risks if we designate these derivative instruments as hedges and the derivative instruments are effective as hedges of recognized assets or liabilities, forecasted transactions, unrecognized firm commitments or forecasted intercompany transactions.

We record gains and losses on derivatives qualifying as cash flow hedges in other comprehensive income, to the extent that hedges are effective and until the underlying transactions are recognized on the Consolidated Statements of Operations, at which time we recognize the gains and losses on the Consolidated Statements of Operations. We recognize gains and losses on qualifying fair value hedges and the related loss or gain on the hedged item attributable to the hedged risk on the Consolidated Statements of Operations.

Generally, our practice is to terminate derivative transactions if the underlying asset or liability matures or is sold or terminated, or if we determine the underlying forecasted transaction is no longer probable of occurring. Any deferred gains or losses associated with derivative instruments are recognized on the Consolidated Statements of Operations over the period in which the income or expense on the underlying hedged transaction is recognized.

See Note 12, “Derivatives and Hedging Activities,” for further details.

Fair Value Measurements of Financial Instruments

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:

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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.

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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.

Our fair value measurements for our financial instruments are subjective and involve uncertainties and matters of significant judgment. Changes in assumptions could significantly affect our estimates. See Note 13, “Fair Value Measurements and Other Financial Instruments,” for further details on our fair value measurements.

Foreign Currency Translation

In non-U.S. locations that are not considered highly inflationary, we translate the balance sheets at the end of period exchange rates with translation adjustments accumulated in stockholders’ equity on our Consolidated Balance Sheets. We translate the statements of operations at the average exchange rates during the applicable period.

We translate assets and liabilities of our operations in countries with highly inflationary economies at the end of period exchange rates, except that nonmonetary asset and liability amounts are translated at historical exchange rates. In countries with highly inflationary economies, we translate items reflected in the statements of operations at average rates of exchange prevailing during the period, except that nonmonetary amounts are translated at historical exchange rates.

Impact of Inflation and Currency Fluctuation

Venezuela

Economic and political events in Venezuela have continued to expose us to heightened levels of foreign currency exchange risk. Accordingly, Venezuela has been designated a highly inflationary economy under U.S. GAAP, and the U.S. dollar replaced the bolivar fuerte as the functional currency for our subsidiaries in Venezuela. All bolivar-denominated monetary assets and liabilities are re-measured into U.S. dollars using the current exchange rate available to us, and any changes in the exchange rate are reflected in foreign currency exchange gains and losses related to our Venezuelan subsidiaries on the Consolidated Statements of Operations.

On February 8, 2013, the Venezuelan government announced a devaluation of the bolivar exchange rate from 4.3 bolivars to the U.S. dollar to 6.3 bolivars to the U.S. dollar. We used this official exchange rate of 6.3 bolivars to the U.S. dollar to re-measure the bolivar-denominated assets and liabilities of our Venezuelan subsidiaries for U.S. GAAP financial statement presentation as of December 31, 2013. As a result of the changes in the exchange rates, we recognized a pretax loss of $13 million in 2013 due to the remeasurement of our Venezuelan subsidiaries’ financial statements and the impact due to the settlement of bolivar-denominated transactions.

On March 18, 2013, the Venezuelan government announced the creation of an alternative foreign currency mechanism called the Supplementary Foreign Currency Administration System, known as the SICAD. During December 2013, the Venezuelan government issued a new rule allowing the Central Bank to publish the average SICAD rate (previously it was prohibited by law to publish any rate different from the official exchange rate) which was 11.3 bolivars per U.S. dollar. As stated above, at December 31, 2013 we re-measured our Venezuelan subsidiaries financial statements using the official exchange rate of 6.3 bolivars to the U.S. dollar since we were not eligible to use the SICAD rate at that time.

In January 2014, the government expanded the use of SICAD and created a new agency called the National Center of Foreign Commerce or CENCOEX which replaced the Commission for the Administration of Foreign Exchange or “CADIVI”. In February 2014, the government opened a new exchange called SICAD 2, which would allow for more exchanges of U.S. dollars and allow more companies the ability to obtain U.S. dollars, including for dividend remittances. This market began to operate on March 24, 2014. Therefore, there were 4 legal mechanisms at this time to exchange Bolívars for US dollars:

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CENCOEX at the official rate of 6.3;

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CENCOEX at the latest published SICAD auction rate;

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SICAD 1 auction process at the awarded exchange rate; and

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SICAD 2 at the negotiated exchange rate.

During 2014, we evaluated which legal mechanisms were available to each Venezuelan subsidiary to access U.S. dollars and also estimated the excess cash position over the next 18 months. We concluded that as of December 31, 2014 the excess cash position for our Venezuelan subsidiaries would be remeasured at the SICAD 2 rate, which was 49.9883 at December 31, 2014, since that would be the only mechanism available to access U.S. dollars to be able to make a dividend payment. For the remaining bolivar- denominated cash balances and all other bolivar-denominated monetary assets and liabilities, we determined that since we still had access to and were receiving U.S. dollars via the CENCOEX official rate of 6.3 we continued to remeasure these items at that rate as of December 31, 2014. For any U.S. dollar denominated monetary asset or liability such amounts do not get remeasured at month-end since it is already an asset or liability denominated in U.S. dollars. However, such amounts were considered and included in the excess cash analysis and an evaluation of the applicable exchange mechanism such amounts could be obtained or settled at was considered. As a result of this evaluation, the Company reported a remeasurement loss of $20 million in 2014.

In February 2015, the Venezuelan government announced a new foreign exchange platform called the Marginal Currency System or SIMADI. The SIMADI basically replaced the SICAD 2 rate as noted above. When this market opened on February 12, 2015 the rate was 170.0390 and then at December 31, 2015 it was 198.6986. The SICAD 1 and the SICAD 2 were merged into the SICAD. The opening rate was 12 for the SICAD and at December 31, 2015 it was 13.5. In addition, the CENCOEX will continue and provide preferential treatment for certain import operations such as food and medicines.

Since these changes were announced by the Venezuelan government, the new SIMADI market has had very little activity and companies have not been able to access this market to obtain U.S. dollars. In addition, the SICAD rate which is established via auctions has had no auctions held since October 2014. However, in June 2015 an auction was held for the automotive parts and school supplies industries.

Therefore, there are now three legal mechanisms at this time to exchange bolivars for US dollars:

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CENCOEX at the official rate of 6.3;

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SICAD auction process at the awarded exchange rate (opening rate at 12 and at December 31, 2015 it was 13.5); and

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SIMADI at the negotiated rate (rate of 198.6986 at December 31, 2015).

At December 31, 2015, we evaluated which legal mechanisms were available to our Venezuelan subsidiaries to access U.S. dollars. Starting June 2015 and at December 31, 2015, we concluded that we will use the SIMADI rate to remeasure our bolivar denominated monetary assets and liabilities since it is our only legally available option and our intent on a go-forward basis to utilize this market to settle any future transactions based on the current facts and circumstances. The SIMADI rate as of December 31, 2015 was 198.6986. During 2015, the Company did not receive U.S. dollars via the CENCOEX official rate of 6.3. We expect that we will only have limited access to the CENCOEX market to settle certain past transactions. However, if the option becomes available to us to use the CENCOEX in the future, the Company will consider this further. In addition, there have been no SICAD auctions for the food or chemical industries as of December 31, 2015. During 2015, we have only been able to access the SIMADI market and during 2015 only received minimal amounts of U.S. dollars. For any U.S. dollar denominated monetary asset or liability, such amounts do not get remeasured at month-end since it is already an asset or liability denominated in U.S. dollars. As a result of this evaluation, the Company reported a remeasurement loss of $33 million for the year ended December 31, 2015. We will continue to evaluate each reporting period the appropriate exchange rate to remeasure our financial statements based on the facts and circumstances at that time.

For the year ended December 31, 2015, approximately 1% of our consolidated net sales and operating income were derived from our businesses in Venezuela. As of December 31, 2015, we had net assets of $5 million in Venezuela, which included cash and cash equivalents of $1 million. Also, as of December 31, 2015, our Venezuelan subsidiaries had a negative cumulative translation adjustment balance of $46 million.

Commitments and Contingencies — Litigation

On an ongoing basis, we assess the potential liabilities related to any lawsuits or claims brought against us. While it is typically very difficult to determine the timing and ultimate outcome of these actions, we use our best judgment to determine if it is probable that we will incur an expense related to the settlement or final adjudication of these matters and whether a reasonable estimation of the probable loss, if any, can be made. In assessing probable losses, we make estimates of the amount of insurance recoveries, if any. We accrue a liability when we believe a loss is probable and the amount of loss can be reasonably estimated. Due to the inherent uncertainties related to the eventual outcome of litigation and potential insurance recovery, it is possible that disputed matters may be resolved for amounts materially different from any provisions or disclosures that we have previously made. We expense legal costs, including those legal costs expected to be incurred in connection with a loss contingency, as incurred.

Revenue Recognition

Our revenue earning activities primarily involve manufacturing and selling products, and we consider revenues to be earned when we have completed the process by which we are entitled to receive consideration. The following criteria are used for revenue recognition: persuasive evidence that an arrangement exists, shipment has occurred, selling price is fixed or determinable, and collection is reasonably assured.

Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales on the Consolidated Statements of Operations.

Charges for rebates and other allowances are recognized as a deduction from revenue on an accrual basis in the period in which the associated revenue is recorded. When we estimate our rebate accruals, we consider customer-specific contractual commitments including stated rebate rates and history of actual rebates paid. Our rebate accruals are reviewed at each reporting period and adjusted to reflect data available at that time. We adjust the accruals to reflect any differences between estimated and actual amounts. These adjustments impact the amount of net sales recognized by us in the period of adjustment. Charges for rebates and other allowances were approximately 9% of gross sales in 2015, 2014 and 2013. We expect 2016 rebates and other allowances to be approximately the same percentage of gross sales as in 2015.

Shipping and Handling Costs

Costs incurred for the transfer and delivery of goods to customers are recorded as a component of cost of sales.

Research and Development

We expense research and development costs as incurred. Research and development costs were $129 million in 2015, $135 million in 2014 and $133 million in 2013.

Share-Based Incentive Compensation

At the 2014 Annual Meeting, the 2014 Omnibus Incentive Plan (the “Omnibus Plan”), was approved by our stockholders. The Omnibus Plan replaced the 2005 Contingent Stock Plan, and no new awards were granted under that plan. Any awards outstanding under the 2005 Contingent Stock Plan on the date of stockholder approval of the Omnibus Plan will remain subject to and be paid under the 2005 Contingent Stock Plan, See Note 18, “Stockholders’ Equity,” for further information on this plan.

We record share-based compensation awards exchanged for employee services at fair value on the date of grant and record the expense for these awards in cost of sales and in selling, general and administrative expense, as applicable, on our Consolidated Statements of Operations over the requisite employee service period. Share-based incentive compensation expense includes an estimate for forfeitures and anticipated achievement levels and is generally recognized over the expected term of the award on a straight-line basis.

Environmental Expenditures

We expense or capitalize environmental expenditures that relate to ongoing business activities, as appropriate. We expense costs that relate to an existing condition caused by past operations and which do not contribute to current or future net sales. We record liabilities when we determine that environmental assessments or remediation expenditures are probable and that we can reasonably estimate the associated cost or a range of costs.

Income Taxes

We file a consolidated U.S. federal income tax return. Our non-U.S. subsidiaries file income tax returns in their respective local jurisdictions. We provide for U.S. income taxes on those portions of our foreign subsidiaries’ accumulated earnings that we believe are not reinvested indefinitely in our businesses.

We account for income taxes under the asset and liability method to provide for income taxes on all transactions recorded in the Consolidated Financial Statements. We recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax benefit carry forwards. We determine deferred tax assets and liabilities at the end of each period using enacted tax rates.

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon settlement with tax authorities. We recognize interest and penalties related to unrecognized tax benefits in income tax expense on our Consolidated Statements of Operations.

See Note 16, “Income Taxes,” for further discussion.

Cash and Cash Equivalents

We consider highly liquid investments with original maturities of three months or less at the date of purchase to be cash equivalents. Our policy is to invest cash in excess of short-term operating and debt service requirements in cash equivalents. Cash equivalents are stated at cost, which approximates fair value because of the short term maturity of the instruments. Our policy is to transact with counterparties that are rated at least A- by Standard & Poor’s and A3 by Moody’s. Some of our operations are located in countries that are rated below A- or A3. In this case, we try to minimize our risk by holding cash and cash equivalents at financial institutions with which we have existing global relationships whenever possible, diversifying counterparty exposures and minimizing the amount held by each counterparty and within the country in total.

Accounts Receivable Securitization Programs

We and a group of our U.S. operating subsidiaries maintain an accounts receivable securitization program under which they sell eligible U.S. accounts receivable to an indirectly wholly-owned subsidiary that was formed for the sole purpose of entering into this program. The wholly-owned subsidiary in turn may sell an undivided fractional ownership interest in these receivables with two banks and an issuer of commercial paper administered by these banks. The wholly-owned subsidiary retains the receivables it purchases from the operating subsidiaries. Any transfers of undivided fractional ownership interests of receivables under the U.S. receivables securitization program to the two banks and an issuer of commercial paper administered by these banks are considered secured borrowings with pledge of collateral and will be classified as short-term borrowings on our Consolidated Balance Sheets. The net trade receivables that served as collateral for these borrowings are reclassified from trade receivables, net to prepaid expenses and other current assets on the Consolidated Balance Sheets.

In February 2013, we entered into a European accounts receivable securitization and purchase program with a special purpose vehicle, or SPV, two banks and a group of our European subsidiaries. The European program is structured to be a securitization of certain trade receivables that are originated by certain of our European subsidiaries. The SPV borrows funds from the banks to fund its acquisition of the receivables and provides the banks with a first priority perfected security interest in the accounts receivable. We do not have an equity interest in the SPV. We concluded the SPV is a variable interest entity because its total equity investment at risk is not sufficient to permit the SPV to finance its activities without additional subordinated financial support from the bank via loans or via the collections from accounts receivable already purchased. Additionally, we are considered the primary beneficiary of the SPV since we control the activities of the SPV, and are exposed to the risk of uncollectable receivables held by the SPV. Therefore, the SPV is consolidated in our Consolidated Financial Statements. Any activity between the participating subsidiaries and the SPV is eliminated in consolidation. Loans from the banks to the SPV will be classified as short-term borrowings on our Consolidated Balance Sheets. The net trade receivables that served as collateral for these borrowings are reclassified from trade receivables, net to prepaid expenses and other current assets on the Consolidated Balance Sheets.

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

Trade Receivables, Net

In the normal course of business, we extend credit to customers that satisfy pre-defined credit criteria. Trade receivables, which are included on the Consolidated Balance Sheets, are net of allowances for doubtful accounts. We maintain trade receivable allowances for estimated losses resulting from the likelihood of failure of our customers to make required payments. An additional allowance may be required if the financial condition of our customers deteriorates.

Inventories

During the fourth quarter of 2014, we changed the method of valuing our inventories that used the LIFO method to the FIFO method, so that all of our inventories are now determined using the FIFO method. We state inventories at the lower of cost or market. Costs related to inventories include raw materials, direct labor and manufacturing overhead which are included in cost of sales on the Consolidated Statement of Operations.

Property and Equipment, Net

We state property and equipment at cost, except for the fair value of acquired property and equipment and property and equipment that have been impaired, for which we reduce the carrying amount to the estimated fair value at the impairment date. We capitalize significant improvements and charge repairs and maintenance costs that do not extend the lives of the assets to expense as incurred. We remove the cost and accumulated depreciation of assets sold or otherwise disposed of from the accounts and recognize any resulting gain or loss upon the disposition of the assets.

We depreciate the cost of property and equipment over their estimated useful lives on a straight-line basis as follows: buildings — 20 to 40 years; machinery and equipment — 5 to 10 years; and other property and equipment — 2 to 10 years.

Goodwill and Identifiable Intangible Assets

Goodwill represents the excess of the aggregate of the following (1) consideration transferred, (2) the fair value of any noncontrolling interest in the acquiree and, (3) if the business combination is achieved in stages, the acquisition-date fair value of our previously held equity interest in the acquiree over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed.

Identifiable intangible assets consist primarily of patents, licenses, trademarks, trade names, customer lists and relationships, non-compete agreements and technology based intangibles and other contractual agreements. We amortize finite lived identifiable intangible assets over the shorter of their stated or statutory duration or their estimated useful lives, generally ranging from 3 to 15 years, on a straight-line basis to their estimated residual values and periodically review them for impairment. Total identifiable intangible assets comprise 11% in both 2015 and 2014 of our consolidated total assets.

We use the acquisition method of accounting for all business combinations and do not amortize goodwill or intangible assets with indefinite useful lives. Goodwill and intangible assets with indefinite useful lives are tested for possible impairment annually during the fourth quarter of each fiscal year or more frequently if events or changes in circumstances indicate that the asset might be impaired.

Long-Lived Assets

Impairment and Disposal of Long-Lived Assets

For definite-lived intangible assets, such as customer relationships, contracts, intellectual property, and for other long-lived assets, such as property, plant and equipment, whenever impairment indicators are present, we perform a review for impairment. We calculate the undiscounted value of the projected cash flows associated with the asset, or asset group, and compare this estimated amount to the carrying amount. If the carrying amount is found to be greater, we record an impairment loss for the excess of book value over the fair value. In addition, in all cases of an impairment review, we re-evaluate the remaining useful lives of the assets and modify them, as appropriate.

For indefinite-lived intangible assets, such as in-process research and development and trademarks and trade names, each year and whenever impairment indicators are present, we determine the fair value of the asset and record an impairment loss for the excess of book value over the fair value, if any. In addition, in all cases of an impairment review other than for in-process research and development assets, we re-evaluate whether continuing to characterize the asset as indefinite-lived is appropriate. See Note 7, “Goodwill and Identifiable Intangible Assets” for additional details.

Self-Insurance

We retain the obligation for specified claims and losses related to property, casualty, workers’ compensation and employee benefit claims. We accrue for outstanding reported claims and claims that have been incurred but not reported based upon management’s estimates of the aggregate liability for retained losses using historical experience, insurance company estimates and the estimated trends in claim values. Our estimates include management’s and independent insurance companies’ assumptions regarding economic conditions, the frequency and severity of claims and claim development patterns and settlement practices. These estimates and assumptions are monitored and evaluated on a periodic basis by management and are adjusted when warranted by changing circumstances. Although management believes it has the ability to adequately project and record estimated claim payments, actual results could differ significantly from the recorded liabilities.

Pensions

For a number of our U.S. employees and our international employees, we maintain defined benefit pension plans. We are required to make assumptions regarding the valuation of projected benefit obligations and the performance of plan assets for our defined benefit pension plans.

We review and approve the assumptions made by our third-party actuaries regarding the valuation of benefit obligations and performance of plan assets. The principal assumptions concern the discount rate used to measure future obligations, the expected future rate of return on plan assets, the expected rate of future compensation increases and various other actuarial assumptions. The measurement date used to determine benefit obligations is December 31 for all material plans (November 30 for non-material plans). The measurement date used to determine plan assets is December 31 for all plans. In general, significant changes to these assumptions could have a material impact on the costs and liabilities recorded in our Consolidated Financial Statements.

See Note 14, “Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans,” for information about the Company’s benefit plans.

Net Earnings per Common Share

Basic earnings per common share is calculated by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding for the period. Non-vested share-based payment awards that contain non-forfeitable rights to dividends are treated as participating securities and therefore included in computing earnings per common share using the “two-class method.” The two-class method is an earnings allocation formula that calculates basic and diluted net earnings per common share for each class of common stock separately based on dividends declared and participation rights in undistributed earnings. The non-vested restricted stock issued under our Omnibus Plan and our 2005 Contingent Stock Plan are considered participating securities since these securities have non-forfeitable rights to dividends when we declare a dividend during the contractual vesting period of the share-based payment award and therefore included in our earnings allocation formula using the two-class method.

When calculating diluted net earnings per common share, the more dilutive effect of applying either of the following is presented: (a) the two-class method (described above) assuming that the participating security is not exercised or converted, or, (b) the treasury stock method for the participating security. Our diluted net earnings per common share for all periods presented were calculated using the two-class method since such method was more dilutive.

See Note 21, “Net Earnings Per Common Share,” for further discussion.

Recently Adopted Accounting Standards

In November 2015, Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) 2015-17 Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes (“ASU 2015-17”). This ASU will simplify the presentation of deferred tax assets and liabilities by requiring companies to classify all deferred tax as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts. ASU 2015-17 is effective for financial statements issued for annual periods beginning after December 31, 2016 and interim periods within those annual periods. However, as early adoption is available, we have adopted this standard as of December 31, 2015 with retroactive application. Adoption of ASU 2015-17 resulted in a decrease in current deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.

In June 2015, the FASB issued ASU 2015-10, “Technical Corrections and Improvements.” This ASU corrects for differences between original guidance and the ASC and makes minor improvements affecting several topics. This adoption does not have a material impact on our financial statements.

Recently Issued Accounting Standards

In January 2016, the FASB issued ASU 2016-01 —Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This ASU requires equity investments except those under the equity method of accounting to be measured at fair value with the changes in fair value recognized in net income. The amendment simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. In addition, it also requires enhanced disclosures about investments. The amendments in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application for certain provisions is allowed but early adoption of the amendments is not permitted. An entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. We are currently in the process of evaluating this new standard update.

In September 2015, the FASB issued ASU 2015-16 – Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. This ASU requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments amounts are determined. The ASU also requires that in the same period, the effect on earnings of changes in depreciation, amortization or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The amendments in ASU 2015-16 are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years and will be applied prospectively for adjustments to provisional amounts that occur after that date. Earlier application is permitted for financial statements that have not been issued. The impact of ASU 2015-16 will depend on any future events whereby we have any business combinations and any adjustments to the provisional amounts identified during the measurement period are recorded.

In August 2015, the FASB issued ASU 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient (“ASU 2015-12”). This ASU designates contract value as the only required measure for fully benefit-responsive investment contracts; simplifies the investment disclosure requirements under Accounting Standards Codification (“ASC”) topic 820 for fair value, and topics 960, 962 and 965 for employee benefit plans; and provides a similar measurement date practical expedient for employee benefit plans. The amendments in ASU 2015-12 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. We are currently in the process of evaluating this new standard update.

In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”), which applies to inventory valued at first-in, first-out (FIFO) or average cost. ASU 2015-11 requires inventory to be measured at the lower of cost and net realizable value, rather than at the lower of cost or market. ASU 2015-11 is effective on a prospective basis for annual periods, including interim reporting periods within those periods, beginning after December 15, 2016. We are currently in the process of evaluating this new standard update.

In April 2015, the FASB issued ASU 2015-05, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement (“ASU 2015-05”). This ASU will help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement. It provides guidance about whether a cloud computing arrangement includes a software license. The amendments in ASU 2015-05 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. An entity can elect to adopt either prospectively to all arrangements entered into or materially modified after the effective date or retrospectively. We are currently in the process of evaluating this new standard update.

In April 2015, the FASB issued ASU 2015-03 Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). This ASU will simplify the presentation of debt issuance costs. It will require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15, Interest—Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements — Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (SEC Update) (“ASU 2015-15”). This ASU clarifies that as line of credit arrangements were not specifically discussed in ASU 2015-03, the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line of credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. ASU 2015-15 should be adopted concurrent with the adoption of ASU 2015-03. The amendments in ASU 2015-03 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. We are currently in the process of evaluating this new standard update.

In November 2014, the FASB issued ASU 2014-17, “Business Combinations (Topic 805): Pushdown Accounting (a consensus of the FASB Emerging Issues Task Force),” (“ASU 2014-17”). ASU 2014-17 provides an acquired entity with an option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. The amendments in ASU 2014-17 are effective November 18, 2014 and an acquired entity can make an election to apply the guidance to future change-in-control events or to its most recent change-in-control event. The effects of ASU 2014-17 will depend on any future events whereby we obtain control of an entity and elect to apply pushdown accounting.

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 to 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 non-vesting conditions that affected the grant-date fair value of the award. We currently treat 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 to our consolidated financial position or results of operations. 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.

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. In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” (“ASU 2015-14”). The amendments in ASU 2015-14 delay the effective date of ASU 2014-09 by one year to annual reporting periods beginning after December 15, 2017 and allow early adoption as of the original public entity effective date. We are currently in the process of evaluating this new standard update.

Divestitures and Acquisitions

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Divestitures and Acquisitions

Note 3 Divestitures and Acquisitions

Divestitures

Sale of North American foam trays and absorbent pads business

On April 1, 2015, we completed the sale of our North American foam trays and absorbent pads business to NOVIPAX, a portfolio company of Atlas Holdings LLC, for net proceeds of $76 million, net of certain purchase price adjustments of $6 million and subject to final purchase price adjustment. The decision to sell this business was consistent with the Company's overall strategy to focus on innovation and differentiation in its portfolio of products within the flexible packaging industry. The sale included our manufacturing facilities in Paxinos and Reading, PA, Indianapolis, IN, Rockingham, NC, and Grenada, MS. We recorded a $27 million pre-tax gain on sale of business, which is included in Gain on sale of business, net in the Consolidated Statement of Operations for the year ended December 31, 2015.

The North American foam trays and absorbent pads business was part of the Company’s Food Care division. The disposal of the North American foam trays and absorbent pads business did not qualify as a discontinued operation.

The carrying amounts of assets and liabilities at disposition on April 1, 2015 are excluded from our Consolidated Balance Sheet as of December 31, 2015. The carrying value of the major classes of assets and liabilities for the business at the date of disposition and on December 31, 2014 (reported as held for sale) were as follows:

	April 1,		December 31,
(In millions)	2015		2014
Assets:
Other receivables	$	—	$	0.1
Inventories		15.2		12.3
Prepaid expenses		0.1		0.1
Property and equipment, net		22.6		22.6
Goodwill		6.9		6.9
Assets held for sale	$	44.8	$	42.0

Liabilities:
Accrued liabilities		2.7		6.1
Liabilities held for sale	$	2.7	$	6.1

For the year ended December 31, 2015 and 2014, the North American foam trays and absorbent pads businesses contributed approximately $53 million and $214 million of net sales; and $10 million and $37 million of earnings before income taxes, respectively, which excludes certain allocated costs, including corporate support services, for which the Company would normally include in measuring its performance.

Sale of European food trays business

On November 1, 2015, we completed the sale of our European food trays business to Faerch Plast A/S, a European food packaging solutions provider, for net proceeds of €18 million euros or approximately $19 million, net of certain purchase price adjustments of €2 million euros or approximately $2 million and subject to final purchase price adjustments. The net proceeds excluded contingent consideration which will be received if certain performance targets are met. This transaction follows the sale of our North American foam trays and absorbent pads business in April 2015 and is aligned with our continued commitment to a disciplined approach to portfolio management strategy. The European sale included the manufacturing facilities in Poole, UK and Bunol, Spain. We recorded a $13 million pre-tax loss on the sale of business, which is included in Gain on sale of business, net in the Consolidated Statement of Operations for the year ended December 31, 2015.

The European food trays business was part of the Company’s Food Care division. The European food trays business met the held for sale criteria in the fourth quarter of 2015 prior to its disposition and has been included as such in the December 31, 2014 periods presented in our Consolidated Balance Sheet. The disposal of the European food trays business did not qualify as a discontinued operation.

The carrying amounts of assets and liabilities at disposition on November 1, 2015 are excluded from our Consolidated Balance Sheet as of December 31, 2015. The carrying value of the major classes of assets and liabilities for the business at the date of disposition and on December 31, 2014 (reported as held for sale) were as follows:

	November 1,		December 31,
(In millions)	2015		2014
Assets:
Receivables, net	$	0.2	$	0.2
Inventories, net		6.0		6.9
Other current assets		0.8		0.3
Property and equipment, net		22.4		27.6
Goodwill		1.5		1.7
Other non-current assets		0.4		0.4
Assets held for sale	$	31.3	$	37.1

Liabilities:
Accounts payable		1.6		1.6
Accrued liabilities		2.1		4.2
Other current liabilities		0.6		0.5
Long term debt		0.4		0.6
Other non-current liabilities		0.1		—
Liabilities held for sale	$	4.8	$	6.9

For the years ended December 31, 2015 and 2014, the European food trays business contributed approximately $49 million and $71 million of net sales; and $7 million and $5 million of earnings from continuing operations before income tax provision, respectively, which excludes certain allocated costs, including corporate support services for which the Company would normally include in measuring its performance.

Sale of Rigid Medical Packaging Business

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 $40 million gain on sale of business ($23 million net of tax) which is included in net earnings on the Consolidated Statements of Operations for the year ended December 31, 2013.

The rigid medical packaging business was included in the “Other” category for segment reporting purposes 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, on the Consolidated Statements of Operations for the year ended December 31, 2013 and cash flows and related disclosures and, as such, have been excluded from both continuing operations and segment results for the year presented. The operating results of the retained portion of the previously reported Medical Applications business continue to be reported in the “Other” category for segment reporting purposes.

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

	Year Ended December 31,
(In millions)	2013
Net sales	$	89.6
Operating profit	$	11.4
Earnings before income tax provision	$	11.1
Income tax provision		3.5
Net earnings from discontinued operations	$	7.6
Gain on sale of discontinued operations before income tax provision	$	40.2
Income tax provision on sale		17.3
Net gain on sale of discontinued operations	$	22.9

There is no continuing involvement in the operations of the entities that make up the discontinued operations.

Acquisitions

Acquisition of Intellibot Robotics, LLC

During the first quarter of 2015, we acquired the business of Intellibot Robotics LLC, a U.S.-based privately owned company that has pioneered the development of robotic commercial floor cleaning machines. The combination of Diversey Care’s industry expertise and global reach and Intellibot’s artificial intelligence technology will help accelerate the development of the robotic floor cleaning machines market – ultimately driving efficiencies and business value for the hygiene industry.

The fair value of the consideration transferred was $18 million which included cash paid of $9 million and $9 million related to the fair value of contingent consideration. We recorded the fair value of the assets acquired and liabilities assumed on the acquisition date, which included $11 million of intangible assets. Based on the preliminary allocation, goodwill of $7 million was recorded and 100% will be deductible for tax purposes.

The contingent consideration, which is classified as a liability, includes earnout fees to be paid out in cash to the seller over a 10 year period based on various percentages of net sales over the 10 year period. Since it is classified as a liability, we must remeasure to fair value each reporting period. The fair value of the liability as of December 31, 2015 was $10 million, mostly included in non-current liabilities on the Consolidated Balance Sheet. The less than $1 million change in fair value was recognized in selling, general and administrative expenses. The valuation of the contingent consideration is based on a probability weighted projection of payments over the 10 year period using the deterministic method. These projections are based on our internal forecast of the business performance and since this is an unobservable input used in the fair value measurement it would be considered a Level 3 input (as defined in Note 13, “Fair Value Measurements and Other Financial Instruments”). In addition, the probability weighted earnout payments were present valued using factors to consider the risk associated with achievement of the sales forecast and the credit risk associated with the payments.

Acquisition of B+ Equipment

During the third quarter of 2015, we acquired 100% equity interest in the business of B+ Equipment, a company headquartered in France that designs, manufactures and services automated packaging equipment for order fulfillment operations. Our acquisition strategy is focused on best-in-class, disruptive technologies that extends Product Care’s leadership position. The acquisition of B+ further solidifies our position in the growing e-commerce market with a solution that focuses on reducing the cost of shipping and increasing productivity.

The fair value of the consideration transferred was $19 million which included an immaterial amount related to the fair value of contingent consideration. We recorded the fair value of the assets acquired and liabilities assumed on the acquisition date, which included $15 million of intangible assets. Based on the preliminary allocation, goodwill of $6 million was recorded and none will be deductible for tax purposes.

Other

During the fourth quarter of 2015, we acquired a small business in the Food Care division. The purchase price allocation had not been completed as of December 31, 2015, as such $7 million of the purchase price has been preliminarily allocated to goodwill.

Segments

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segments

Note 4 Segments

The Company’s 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. Other includes certain costs that are not allocated to the reportable segments, as applicable, primarily consisting of unallocated corporate overhead costs, including administrative functions and cost recovery variances not allocated to the reportable segments from global functional expenses.

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 and impairment of goodwill and other intangible assets by segment, although these items are not included in the segment performance metric Adjusted EBITDA since restructuring and other charges and impairment of goodwill and other intangible assets are categorized as special items as outlined in the table reconciling Non-U.S. GAAP Total Company Adjusted EBITDA to U.S. GAAP net earnings from continuing operations set forth below. The accounting policies of the reportable segments and Other are the same as those applied to the Consolidated Financial Statements.

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

	Year Ended December 31,
(In millions)	2015			2014			2013
Net Sales:
Food Care	$	3,405.1		$	3,835.3		$	3,814.2
As a % of Total Company net sales		48.4	%		49.5	%		49.6	%
Diversey Care		1,999.1			2,173.1			2,160.8
As a % of Total Company net sales		28.4	%		28.0	%		28.1	%
Product Care		1,540.5			1,655.0			1,610.0
As a % of Total Company net sales		21.9	%		21.4	%		20.9	%
Total Reportable Segments Net Sales		6,944.7			7,663.4			7,585.0
Other		86.8		87.1				105.8
Total Company Net Sales	$	7,031.5		$	7,750.5		$	7,690.8

	Year Ended December 31,
(In millions)	2015			2014			2013
Adjusted EBITDA:
Food Care	$	689.8		$	670.2		$	614.7
Adjusted EBITDA Margin		20.3	%		17.5	%		16.1	%
Diversey Care	231.9				245.0		237.3
Adjusted EBITDA Margin		11.6	%		11.3	%		11.0	%
Product Care		321.0		292.7			266.3
Adjusted EBITDA Margin		20.8	%		17.7	%		16.5	%
Total Reportable Segments Adjusted EBITDA		1,242.7			1,207.9			1,118.3
Other		(68.6	)		(89.6	)		(77.8	)
Non-U.S. GAAP Total Company Adjusted EBITDA	$	1,174.1		$	1,118.3		$	1,040.5
Adjusted EBITDA Margin		16.7	%		14.4	%		13.5	%

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

	Year Ended December 31,
(In millions)	2015			2014			2013
Total Company Adjusted EBITDA	$	1,174.1		$	1,118.3		$	1,040.5
Depreciation and amortization⁽¹⁾		(274.5	)		(320.8	)		(307.5	)
Special items:
Accelerated depreciation of non-strategic assets related to restructuring programs		0.2			2.1			5.3
Restructuring and other charges⁽²⁾		(78.3	)		(65.7	)		(73.8	)
Other restructuring associated costs included in cost of sales and selling, general and administrative expenses		(42.9	)		(35.8	)		(26.6	)
Development grant matter included in selling, general and administrative expenses		—			(14.0	)		—
Termination of licensing agreement		—			(5.3	)		—
SARs		(3.9	)		(8.1	)		(38.1	)
Impairments of equity method investment		—			(5.7	)		(2.1	)
Foreign currency exchange (loss) gains related to Venezuelan subsidiaries		(33.1	)		(20.4	)		(13.1	)
Loss on debt redemption and refinancing activities		(110.0	)		(102.5	)		(36.3	)
Gain (loss) from Claims Settlement in 2014 and related costs		—			21.1			(1.0	)
Gain, net, on sale of North American foam trays and absorbent pads business and European food trays business		13.4			—			—
Non-operating charge for contingent guarantee included in other income (expense), net		—			(2.5	)		—
Other special items		8.6			(5.8	)		(6.1	)
Interest expense		(227.7	)		(287.7	)		(361.0	)
Income tax provision		90.5			9.1			84.9
Net earnings from continuing operations	$	335.4		$	258.1		$	95.3

⁽¹⁾	Depreciation and amortization by segment is as follows:

	Year Ended December 31,
(In millions)	2015		2014		2013
Food Care	$	107.9	$	121.3	$	118.4
Diversey Care		105.5		126.3		132.3
Product Care		37.4		41.4		38.2
Total reportable segments		250.8		289.0		288.9
Other		23.7		31.8		18.6
Total Company depreciation and amortization⁽¹⁾	$	274.5	$	320.8	$	307.5

⁽¹⁾	Includes share-based incentive compensation of $61.2 million in 2015, $54.1 million in 2014, and $24.1 million in 2013.

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

	Year Ended December 31,
(In millions)	2015		2014		2013
Food Care	$	37.9	$	27.3	$	25.1
Diversey Care		22.2		24.3		32.2
Product Care		17.2		13.6		16.4
Total reportable segments		77.3		65.2		73.7
Other		1.0		0.5		0.1
Total Company restructuring and other charges	$	78.3	$	65.7	$	73.8

The restructuring and other charges in 2015 primarily relate to our previously announced Fusion program. The restructuring and other charges in 2014 and 2013 primarily relate to our previously announced Earnings Quality Improvement Program (EQIP). See Note 9, “Restructuring and Relocation Activities,” for further discussion.

Assets by Reportable Segments

The following table shows assets allocated by our segment reporting structure. Only assets which are identifiable by segment and reviewed by our chief operating decision maker by segment are allocated to the reportable segment assets, which are trade receivables, net, and finished goods inventories, net. All other assets are included in “Assets not allocated.”

	December 31,		December 31,
(In millions)	2015		2014
Assets:
Trade receivables, net, and finished goods inventories, net
Food Care	$	522.4	$	678.2
Diversey Care		440.3		514.5
Product Care		219.6		279.1
Other		14.8		14.0
Total segments and other		1,197.1		1,485.8
Assets not allocated
Cash and cash equivalents		358.4		286.4
Property and equipment, net		930.7		943.0
Goodwill		2,909.5		2,996.9
Intangible assets, net		784.3		872.2
Assets held for sale		10.3		106.4
Other		1,235.7		1,262.5
Total	$	7,426.0	$	7,953.2

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 impairment review, which we do during the fourth quarter of the year using a measurement date of October 1^st. 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 year ended December 31, 2015 by our segment reporting structure, and the details of our impairment review.

Geographic Information

	Year Ended December 31,
(In millions)	2015		2014		2013
Net sales⁽¹⁾:
North America⁽⁴⁾	$	2,923.2	$	3,071.9	$	3,004.9
EMEA⁽³⁾		2,410.4		2,783.2		2,770.7
Latin America		695.8		807.5		840.7
APAC⁽³⁾		1,002.1		1,087.9		1,074.5
Total	$	7,031.5	$	7,750.5	$	7,690.8

Total long-lived assets⁽¹⁾⁽²⁾:
North America	$	616.5	$	542.5
EMEA⁽³⁾		377.3		413.2
Latin America		127.0		143.6
APAC⁽³⁾		191.1		216.8
Total	$	1,311.9	$	1,316.1

⁽¹⁾

Net sales to external customers attributed to geographic areas represent net sales to external customers based on destination. No non-U.S. country accounted for net sales in excess of 10% of consolidated net sales for the years ended December 31, 2015, 2014, or 2013 or long-lived assets in excess of 10% of consolidated long-lived assets at December 31, 2015 and 2014.

⁽²⁾	Total long-lived assets represent total assets excluding total current assets, deferred tax assets, goodwill and intangible assets.

⁽³⁾

As previously announced, the Company underwent a reorganization of its AMAT region. This reorganization involved transitioning the previously reported AMAT region to an Asia Pacific (APAC) region, which now includes Asia, Australia, New Zealand and moving the Middle East, Africa and Turkey countries into the Company’s existing European regional organization, now referred to as EMEA. This took effect beginning in the second quarter of 2015.

⁽⁴⁾	Net sales to external customers within the U.S. were $2,685.3 million for the year ended December 31, 2015, $2,797.5 million for the year ended December 31, 2014 and $2,724.5 million for the year ended December 31, 2013.

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.

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Inventories

12 Months Ended

Dec. 31, 2015

Inventory Disclosure [Abstract]

Property Plant And Equipment [Abstract]

Note 5 Inventories

The following table details our inventories:

	December 31,		December 31,
(In millions)	2015		2014⁽¹⁾
Inventories, net:
Raw materials	$	109.6	$	103.9
Work in process		112.4		100.7
Finished goods		438.8		483.9
Total	$	660.8	$	688.5

⁽¹⁾	Excludes North American foam trays and absorbent pads and European food trays business inventory. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Property and Equipment, net

12 Months Ended

Dec. 31, 2015

Property and Equipment, net

Note 6 Property and Equipment, net

The following table details our property and equipment.

	December 31,			December 31,
(In millions)	2015			2014⁽¹⁾
Land and improvements	$	86.7		$	98.6
Buildings		602.0			636.0
Machinery and equipment		2,141.3			2,195.9
Other property and equipment		129.1			140.0
Construction-in-progress		190.7			109.0
Property and equipment, gross		3,149.8			3,179.5
Accumulated depreciation and amortization		(2,219.1	)		(2,236.5	)
Property and equipment, net	$	930.7		$	943.0

⁽¹⁾	Excludes North American foam trays and absorbent pads and European food trays business property and equipment, net. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment for the three years ended December 31, 2015.


	Year Ended December 31,
(In millions)	2015		2014		2013
Interest cost capitalized	$	5.4	$	6.2	$	4.9
Depreciation and amortization expense for property and equipment	$	124.6	$	147.8	$	160.2

Goodwill and Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

Note 7 Goodwill and Identifiable Intangible Assets

Goodwill

We review goodwill for impairment on a reporting unit basis annually during the fourth quarter of each year, using a measurement date of October 1^st, and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. While we are permitted to conduct a qualitative assessment to determine whether it is necessary to perform a two-step quantitative goodwill impairment test, for our 2015 and 2014 annual goodwill impairment test performed in the fourth quarter of each applicable year, we performed a quantitative test for all of our reporting units.

The goodwill impairment test involves a two-step process. In step one, we compare the fair value of each of our reporting units to its carrying value, including the goodwill allocated to the reporting unit. If the fair value of the reporting unit exceeds its carrying value, there is no indication of impairment and no further testing is required. If the fair value of the reporting unit is less than the carrying value, we must perform step two of the impairment test to measure the amount of impairment loss, if any. In step two, the reporting unit’s fair value is allocated to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that calculates the implied fair value of goodwill in the same manner as if the reporting unit was being acquired in a business combination. If the implied fair value of the reporting unit’s goodwill is less than the carrying value, the difference is recorded as an impairment loss.

2015, 2014 and 2013 Annual Impairment Test

During the fourth quarters of 2015, 2014 and 2013, we completed step one of our annual goodwill impairment test for our reporting units. We concluded that the fair values of these reporting units were above their carrying values and, therefore, there was no indication of impairment in either year.

We estimated the fair value of these reporting units using a weighting of fair values derived from an income and market approaches. Under the income approach, we determine the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on a weighted average cost of capital adjusted for the relevant risk associated with the characteristics of the business and the projected cash flows. The market approaches estimate fair value based on market multiples of current and forward 12-month operating performance results, as applicable derived from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit.

Allocation of Goodwill to Reporting Units

The following table shows our goodwill balances by our segment reporting structure:

(In millions)	Food Care			Diversey Care			Product Care			Other⁽²⁾			Total
Gross Carrying Value at December 31, 2014⁽¹⁾	$	811.1		$	1,900.8		$	1,371.2		$	4.8		$	4,087.9
Accumulated impairment		(208.0	)		(883.0	)		—			—			(1,091.0	)
Carrying Value at December 31, 2014⁽¹⁾	$	603.1		$	1,017.8		$	1,371.2		$	4.8		$	2,996.9
Acquisition		6.7			6.7			6.3			—			19.7
Dispositions		—			—			(3.1	)		—			(3.1	)
Other		3.2			—			—			(3.2	)		—
Currency translation		(16.7	)		(86.6	)		(0.7	)		—			(104.0	)
Gross Carrying Value at December 31, 2015		804.3			1,820.9			1,373.7			1.6			4,000.5
Accumulated impairment		(208.0	)		(883.0	)		—			—			(1,091.0	)
Carrying Value at December 31, 2015	$	596.3		$	937.9		$	1,373.7		$	1.6		$	2,909.5

⁽¹⁾	Excludes North American foam trays and absorbent pads and European food trays business goodwill. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

⁽²⁾	Represents goodwill of our Medical Applications reporting unit.

The excess of estimated fair values over carrying value, including goodwill for each of our reporting units that had goodwill as of the 2015 annual impairment test were the following:


	% by Which Estimated Fair value
Reporting Unit	exceeds Carrying Value
Food Care — Packaging Solutions		410	%
Food Care — Hygiene Solutions		488	%
Diversey Care		55	%
Product Care		121	%
Medical Applications⁽¹⁾		819	%

⁽¹⁾	Included in the “Other” category for segment reporting purposes – See Note 4 for a description of our reportable segments.

As noted above, the fair value determined under step one of the goodwill impairment test completed in the fourth quarter of 2015 exceeded the carrying value for each reporting unit. Therefore, there was no impairment of goodwill. However, if the fair value decreases in future periods, the Company may fail step one of the goodwill impairment test and be required to perform step two. In performing step two, the fair value would have to be allocated to all of the assets and liabilities of the reporting unit. Therefore, any potential goodwill impairment charge would be dependent upon the estimated fair value of the reporting unit at that time and the outcome of step two of the impairment test. The fair values of the assets and liabilities of the reporting unit, including the intangible assets could vary depending on various factors.

The future occurrence of a potential indicator of impairment, such as a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of, could require an interim assessment for some or all of the reporting units before the next required annual assessment. In the event of significant adverse changes of the nature described above, we might have to recognize a non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition and results of operations.

Identifiable Intangible Assets

The following tables summarize our identifiable intangible assets with definite and indefinite useful lives:

	December 31, 2015										December 31, 2014⁽²⁾
	Gross										Gross
	Carrying		Accumulated			Accumulated					Carrying		Accumulated			Accumulated
(In millions)	Value		Amortization			Impairment			Net		Value		Amortization			Impairment			Net
Customer relationships	$	846.2	$	(249.4	)	$	(148.9	)	$	447.9	$	890.8	$	(210.8	)	$	(148.9	)	$	531.1
Trademarks and tradenames		1.7		(0.4	)		—			1.3		1.3		(0.2	)		—			1.1
Capitalized software		143.0		(125.3	)		—			17.7		140.7		(113.8	)		—			26.9
Technology		141.9		(65.0	)		(22.2	)		54.7		125.7		(53.2	)		(22.2	)		50.3
Contracts		42.8		(31.2	)		—			11.6		40.6		(28.9	)		—			11.7
Total intangible assets with definite lives		1,175.6		(471.3	)		(171.1	)		533.2		1,199.1		(406.9	)		(171.1	)		621.1
Trademarks and tradenames with indefinite lives⁽¹⁾		881.3		—			(630.2	)		251.1		881.3		—			(630.2	)		251.1
Total identifiable intangible assets	$	2,056.9	$	(471.3	)	$	(801.3	)	$	784.3	$	2,080.4	$	(406.9	)	$	(801.3	)	$	872.2

⁽¹⁾	The intangible assets include $251 million of trademarks that we have determined to have indefinite useful lives, primarily acquired in connection with the acquisition of Diversey.

⁽²⁾	Excludes North American foam trays and absorbent pads business intangible assets. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

The following table shows the remaining estimated future amortization expense at December 31, 2015.

Year	Amount (in millions)
2016	$	83.4
2017		76.9
2018		63.9
2019		56.3
Thereafter		252.7
Total	$	533.2

Amortization expense was $88.7 million in 2015, $118.9 million in 2014 and $123.2 million in 2013.

The following table shows the remaining weighted average useful life of our definite lived intangible assets as of December 31, 2015.

	Remaining weighted average useful lives
Customer relationships		8.8
Trademarks and trade names		5.7
Technology		4.0
Contracts		5.6
Total intangible assets with definite lives		8.1

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.

Restructuring And Related Activities [Abstract]

Accounts Receivable Securitization Programs	12 Months Ended
Accounts Receivable Securitization Programs	Dec. 31, 2015
Transfers And Servicing [Abstract]
Accounts Receivable Securitization Programs	Note 8 Accounts Receivable Securitization Programs U.S. Accounts Receivable Securitization Program We and a group of our U.S. operating subsidiaries maintain an accounts receivable securitization program under which they sell eligible U.S. accounts receivable to an indirectly wholly-owned subsidiary that was formed for the sole purpose of entering into this program. The wholly-owned subsidiary in turn may sell an undivided fractional ownership interest in these receivables with two banks and issuers of commercial paper administered by these banks. The wholly-owned subsidiary retains the receivables it purchases from the operating subsidiaries. Any transfers of fractional ownership interests of receivables under the U.S. receivables securitization program to the two banks and issuers of commercial paper administered by these banks are considered secured borrowings with pledge of collateral and will be classified as short-term borrowings on our Consolidated Balance Sheets. These banks do not have any recourse against the general credit of the Company. The net trade receivables that served as collateral for these borrowings are reclassified from trade receivables, net to prepaid expenses and other current assets on the Consolidated Balance Sheets. As of December 31, 2015, the maximum purchase limit for receivable interests was $90 million, subject to the availability limits described below. The amounts available from time to time under this program may be less than $90 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 year ended December 31, 2015, the level of eligible assets available under the program was lower than $90 million primarily due to certain required reserves against our receivables. As a result, the amount available to us under the program before utilization was $72 million at December 31, 2015. 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. The program expires annually in September and is renewable. The program expires annually and is renewable. The expiration date of the program was extended for a one month period until September 30, 2015 and then renewed for an additional year at the end of such extension. European Accounts Receivables 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. The European program is structured to be a securitization of certain trade receivables that are originated by certain of our European subsidiaries. The SPV borrows funds from the banks to fund its acquisition of the receivables and provides the banks with a first priority perfected security interest in the accounts receivable. We do not have an equity interest in the SPV. We concluded the SPV is a variable interest entity because its total equity investment at risk is not sufficient to permit the SPV to finance its activities without additional subordinated financial support from the bank via loans or via the collections from accounts receivable already purchased. Additionally, we are considered the primary beneficiary of the SPV since we control the activities of the SPV, and are exposed to the risk of uncollectable receivables held by the SPV. Therefore, the SPV is consolidated in our Consolidated Financial Statements. Any activity between the participating subsidiaries and the SPV is eliminated in consolidation. Loans from the banks to the SPV will be classified as short-term borrowings on our Consolidated Balance Sheets. The net trade receivables that served as collateral for these borrowings are reclassified from trade receivables, net to prepaid expenses and other current assets on the Consolidated Balance Sheets. As of December 31, 2015, the maximum purchase limit for receivable interests was €110 million, ($120 million equivalent at December 31, 2015) subject to availability limits. The terms and provisions of this program are similar to our U.S. program discussed above. As of December 31, 2015, the amount available under this program before utilization was €110 million ($120 million equivalent as of December 31, 2015). This program expires annually in February and is renewable. The program was renewed in February 2016 for an additional year. Utilization of Our Accounts Receivable Securitization Programs As of December 31, 2015, there were borrowings of $67 million outstanding under our U.S. program and borrowings of €70 million ($77 million equivalent as of December 31, 2015) under our European program. 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 less than $1 million for the year ended December 31, 2015. 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 December 31, 2015. As of December 31, 2014, the total amount of borrowings under our U.S. program was $36 million and there were no amounts outstanding under the European program.

Restructuring and Relocation Activities

12 Months Ended

Dec. 31, 2015

Restructuring and Relocation Activities

Note 9 Restructuring and Relocation Activities

The following table details our restructuring activities:

	Year Ended December 31,
	2015								2014								2013
(In millions)	IOP		EQIP		Fusion		Total		IOP		EQIP		Fusion		Total		IOP			EQIP		Total
Other associated costs	$	4.6	$	9.1	$	29.2	$	42.9	$	7.7	$	25.7	$	2.4	$	35.8	$	14.1		$	12.5	$	26.6
Restructuring charges		0.6		0.1		77.6		78.3		13.2		47.0		5.5		65.7		(7.0	)		80.8		73.8
Total	$	5.2	$	9.2	$	106.8	$	121.2	$	20.9	$	72.7	$	7.9	$	101.5	$	7.1		$	93.3	$	100.4

Fusion

On December 18, 2014, the Board of Directors of the Company approved a new restructuring plan (the “Fusion Program” or the “Plan”), which consists of a portfolio of restructuring projects across all of our divisions as part of our transformation of Sealed Air Corporation into a knowledge-based company, including reduction in headcount and consolidation and relocation of certain facilities and offices.

On July 23, 2014, we announced that we will be establishing a new global headquarters in Charlotte, North Carolina (known as our “Beacon” project). We will relocate the headquarters for our divisions, research and development facilities, and corporate offices. Within the next three years, we anticipate approximately 1,300 jobs will be relocated to Charlotte from our former corporate headquarters in Elmwood Park, New Jersey; and facilities in Saddle Brook, New Jersey; Racine, Wisconsin; and, Duncan and Greenville, South Carolina. We will also relocate a small number of jobs from other locations. The cost of the Charlotte campus is estimated to be approximately $120 million.

The Company currently estimates that it will incur aggregate costs of approximately $395 million to $405 million in connection with the implementation of this Plan. The net cash cost of the Plan is expected to be in the range of $330 million to $340 million. The costs associated with the Plan, the majority of which are expected to be incurred between 2015 and 2017, will primarily consist of (i) a reduction in headcount through reorganization and integration, including severance and termination benefits for employees, expected to be approximately $115 million to $120 million, and (ii) other costs associated with the Plan, primarily relating to the rationalization, consolidation and relocation of certain portions of our global supply chain and other facilities and offices, expected to be approximately $280 million to $285 million. Included in the total cash costs, the Company anticipates approximately $190 million to $200 million of capital expenditures related to the Plan, including the building of the Charlotte campus, of which the majority is expected to continue in 2016.

The other associated costs included in the table above primarily consist of consulting and other costs incurred in connection with the project relocation efforts, which were included in selling, general and administrative expenses on the Consolidated Statements of Operations for the year ended December 31, 2015 and 2014. The restructuring charges included in the table above primarily consist of termination and benefit costs.

On August 31, 2014, in connection with our relocation efforts, we signed an agreement for purchase and sale relating to our building located in Racine, Wisconsin. As of December 31, 2014, the building and certain related assets met the criteria of assets held for sale classification. Accordingly, we reclassified $26 million from property, plant and equipment to assets held for sale as of December 31, 2014. The sale closed in January 2015. The final sales price was $30 million, of which net proceeds of $24 million were received as part of the closing along with a $6 million unsecured promissory note which was received in the third quarter of 2015. We recorded a pre-tax gain on the sale of approximately $3 million in January 2015.

The restructuring accrual, spending and other activity for the year ended December 31, 2015 and the accrual balance remaining at December 31, 2015 related to this program were as follows (in millions):

Fusion restructuring accrual at December 31, 2014	$	5.5
Accrual and accrual adjustments		77.6
Cash payments during 2015		(18.6	)
Effect of changes in foreign currency exchange rates		(1.6	)
Fusion restructuring accrual at December 31, 2015	$	62.9

The accrual and accrual adjustments include a reclassification adjustment of $13 million to transfer two projects from the EQIP Program to the Fusion Program in order to better match the projects to the program savings. There is no net impact to the financial statements resulting from the reclassification adjustment.

Cumulative cash payments made in connection with this program, including associated costs through December 31, 2015, were $51 million. We expect to pay $40 million of the accrual balance remaining at December 31, 2015 within the next twelve months. This amount is included in accrued restructuring costs on the Consolidated Balance Sheet at December 31, 2015. The majority of the remaining accrual of $23 million is expected to be paid in 2017. This amount is included in other non-current liabilities on our Consolidated Balance Sheet at December 31, 2015.

Capital expenditures related to this program were $45 million in 2015 and none in 2014. Capital expenditures primarily relate to the Beacon project and to supply chain network optimization.

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 employees and other costs associated with divisional realignment and connected profitability improvement programs, including severance and termination benefits for employees, expected to be approximately $110 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 $80 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 $40 million to $45 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 Consolidated Statements of Operations for the year ended December 31, 2015. The restructuring charges included in the table above primarily consist of termination and benefit costs.

EQIP restructuring accrual at December 31, 2014	$	41.9
Accrual and accrual adjustments		0.1
Cash payments during 2015		(28.9	)
Effect of changes in foreign currency exchange rates		(4.0	)
EQIP restructuring accrual at December 31, 2015	$	9.1

Cumulative cash payments made in connection with this program, including associated costs through December 31, 2015, were $152 million. We expect to pay all of the $9 million of the accrual balance remaining at December 31, 2015 within the next twelve months. This amount is included in accrued restructuring costs on the Consolidated Balance Sheet at December 31, 2015.

Capital expenditures related to this program were $6 million in 2015, $28 million in 2014 and $11 million in 2013. Capital expenditures primarily relate to supply chain network and facilities 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 was substantially completed by the end of 2015.

The other associated costs in the table above primarily consist of consulting and other costs incurred in connection with the project relocation efforts, which were included in selling, general and administrative expenses on the Consolidated Statements of Operations for the years ended 2015, 2014 and 2013. The restructuring charges included in the table above primarily consist of termination and benefit costs.

IOP restructuring accrual at December 31, 2014	$	13.1
Accrual and accrual adjustments		0.6
Cash payments during 2015		(8.5	)
Effect of changes in foreign currency exchange rates		(0.9	)
IOP restructuring accrual at December 31, 2015	$	4.3

Cumulative cash payments made in connection with this program, including associated costs through December 31, 2015, were $233 million. We expect to pay all of the $4 million of the accrual balance remaining at December 31, 2015 within the next twelve months. This amount is included in accrued restructuring costs on the Consolidated Balance Sheet at December 31, 2015.

Capital expenditures related to this program were $1 million in 2015, less than $1 million in 2014 and $14 million in 2013. Capital expenditures mainly relate to facilities and supply chain network optimization.

Other Current and Non-Current Liabilities

12 Months Ended

Dec. 31, 2015

Other Liabilities Disclosure [Abstract]

Other Current and Non-Current Liabilities

Note 10 Other Current and Non-Current Liabilities

The following tables detail our other current liabilities and other non-current liabilities at December 31, 2015 and 2014:

	December 31,		December 31,
(In millions)	2015		2014⁽¹⁾
Other current liabilities:
Accrued salaries, wages and related costs	$	288.4	$	324.2
Accrued operating expenses		240.6		292.9
Income taxes payable		49.7		38.1
Accrued customer volume rebates		165.6		180.1
Accrued interest		38.8		46.0
Accrued employee benefit liability		6.6		8.6
Total	$	789.7	$	889.9

	December 31,		December 31,
(In millions)	2015		2014
Other non-current liabilities:
Accrued employee benefit liability	$	378.1	$	347.6
Other postretirement liability		62.2		77.4
Other various liabilities		273.8		279.1
Total	$	714.1	$	704.1

(1)	Excludes other current liabilities of the North American foam trays and absorbent pads business and European food trays business. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Debt and Credit Facilities

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Debt and Credit Facilities

Note 11 Debt and Credit Facilities

Our total debt outstanding consisted of the amounts set forth on the following table:

	December 31,		December 31,
(In millions)	2015		2014
Short-term borrowings ⁽¹⁾	$	241.9	$	143.3
Current portion of long-term debt		46.6		1.0
Total current debt		288.5		144.3
Term Loan A due July 2017, less unamortized lender fees of $0.2 million in 2015 and $0.3 million in 2014		249.8		249.7
Term Loan A due July 2019, less unamortized lender fees of $8.1 million in 2015 and $10.6 million in 2014⁽²⁾		1,060.5		1,129.4
6.50% Senior Notes due December 2020		427.6		428.1
8.375% Senior Notes due September 2021		—		750.0
4.875% Senior Notes due December 2022		425.0		425.0
5.25% Senior Notes due April 2023		425.0		425.0
4.50% Senior Notes due September 2023		437.3		—
5.125% Senior Notes due December 2024		425.0		425.0
5.50% Senior Notes due September 2025		400.0		—
6.875% Senior Notes due July 2033, less unamortized discount of $1.3 million in 2015 and $1.3 million in 2014		448.7		448.7
Other		3.8		1.1
Total long-term debt, less current portion		4,302.7		4,282.0
Total debt⁽³⁾⁽⁴⁾	$	4,591.2	$	4,426.3

⁽¹⁾

Short-term borrowings of $242 million at December 31, 2015 are comprised primarily of $67 million of borrowings outstanding under our U.S. accounts receivable securitization program, $77 million of borrowings outstanding under our European accounts receivable securitization program, and $98 million short-term borrowing from various lines of credit. Short-term borrowings at December 31, 2014 are comprised primarily of $36 million of borrowings outstanding under our U.S. accounts receivable securitization program, $23 million outstanding under our revolving credit facility and $84 million short-term borrowings from various lines of credit. As of December 31, 2015 and 2014, there were $56 million and $36 million of cash held on deposit, respectively, as a compensating balance for certain short-term borrowings.

⁽²⁾	Term Loan A facility due July 2019 has required prepayments which are due in 2016.

⁽³⁾

As of December 31, 2015, our weighted average interest rate on our short term borrowings outstanding was 3.4% and on our long term debt outstanding was 4.6%. As of December 31, 2014, our weighted average interest rate on our short term borrowings outstanding was 6.1% and on our long term debt outstanding was 5.2%.

⁽⁴⁾	Long-term debt instruments are listed in order of priority.

Senior Notes

2015 Activity

In the second quarter 2015, Sealed Air issued $400 million of 5.50% Senior Notes due September 15, 2025 and €400 million of 4.50% Senior Notes due September 15, 2023. The proceeds from these notes were used to repurchase the Company’s $750 million 8.375% Notes due September 2021. The aggregate repurchase price was $866 million, which included the principal amount of $750 million, a premium of $99 million and accrued interest of $17 million. We recognized a total pre-tax loss of $111 million on the repurchase, which included the premiums mentioned above. Also included in the loss on debt redemption was $11 million of accelerated amortization of original non-lender fees related to the 8.375% Senior Notes. We also capitalized $8 million of non-lender fees incurred in connection with the 5.50% Senior Notes and 4.50% Senior Notes that are included in other assets on our Consolidated Balance Sheet.

2014 Activity

In the fourth quarter 2014, Sealed Air issued $425 million of 4.875% Senior Notes due December 1, 2022 and $425 million of 5.125% Senior Notes due December 1, 2024. The proceeds from this note were used to repurchase the company’s $750 million 8.125% Notes due September 2019. The aggregate repurchase price was $837 million, which included the principal amount of $750 million, a premium of $75 million and accrued interest of $12 million. We recognized a total pre-tax loss of $84 million on the repurchase, which included the premiums mentioned above. Also included in the loss on debt redemption was $9 million of accelerated amortization of original non-lender fees related to the 8.125% Senior Notes. We also capitalized $13 million of non-lender fees incurred in connection with the 4.875% Senior Notes and 5.125% Senior Notes that are included in other assets on our Consolidated Balance Sheet.

In the fourth quarter of 2014, we terminated the swaps that were associated with the 6.5% Senior Notes although the 6.5% Senior Notes remained outstanding. The $3 million gain on termination of swaps increased the carrying amount of our 6.5% Senior Notes, which is being amortized using effective interest rate method over the remaining maturities of the Senior Note and included in interest expense on our Consolidated Statements of Operations.

2013 Activity

In March 2013, we issued $425 million of 5.25% Senior Notes and used substantially all of the proceeds to retire the 7.875% Senior Notes due June 2017. We repurchased the 7.875% Senior Notes at fair value. The aggregate repurchase price was $431 million, which included the principal amount of $400 million, a 6% premium of $23 million and accrued interest of $8 million. We recognized a total net pre-tax loss of $32 million, which included the premiums mentioned above.

Credit Facility

2014 Activity

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 facility of $700 million, (ii) a new $100 million delayed draw Term Loan A facility (used for our Brazilian operations), (iii) a 0.75% reduction of the interest rate margin for the Term Loan A facility and revolving credit facilities, (iv) extension of the final maturity of the Term Loan A facilities and revolving credit facility 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 B was fully extinguished as a result of the Refinancing.

On August 29, 2014, we completed the $100 million delayed draw of the Term Loan A facility. In connection with this loan, we also entered into interest rate and currency swaps in a notional amount of $100 million, which convert our floating U.S. dollar denominated obligation under the Term Loan A into a fixed rate Brazilian real denominated obligation.

As a result of the Second Restatement Agreement, we recognized $18 million of loss on debt redemption in our Consolidated Statements of Operations. This amount includes $13 million of accelerated amortization of original issuance discount related to the Term Loan B and lender and non-lender fees related to the entire credit facility. Also included in the loss on debt redemption was $5 million of non-lender fees incurred in connection with the Second Restatement Agreement. In addition, we incurred $2 million of lender fees that are included in the carrying amounts of the outstanding debt under the credit facility. We also capitalized $5 million of non-lender fees that are included in other assets on our Consolidated Balance Sheet.

The amortization expense related to original issuance discount and lender and non-lender fees is calculated using the effective interest rate method over the lives of the respective debt instruments. Total amortization expense in 2014 related to the Senior Secured Credit Facilities was $10 million and is included in interest expense in our Consolidated Statements of Operations.

2013 Activity

2013 Amended Credit Facility

In November 2013, we amended our senior secured credit facility. The amendment refinanced the Term Loan B facilities with a $525 million Term Loan B dollar tranche and a €128 million Term Loan B euro tranche. In connection therewith, among other things, (i) the interest margin on each tranche was decreased by 0.75%, and the minimum Eurocurrency rate under the Term Loan B facilities was reduced from 1.00% to 0.75%. We prepaid $101 million and refinanced the remaining principal amount of $697 million of the euro and U.S. dollar denominated portions of the original Term Loan B at 100% of their face value. We recognized a $4 million pre-tax loss on debt redemption included in our Consolidated Statement of Operations for 2013, consisting of accelerated unamortized original issuance discount, unamortized fees, and fees associated with the transaction.

Lines of Credit

The following table summarizes our available lines of credit and committed and uncommitted lines of credit, including the revolving credit facility discussed above, and the amounts available under our accounts receivable securitization programs.

	December 31,		December 31,
(In millions)	2015		2014
Used lines of credit⁽¹⁾⁽²⁾	$	241.9	$	143.3
Unused lines of credit		1,039.9		1,108.8
Total available lines of credit⁽³⁾	$	1,281.8	$	1,252.1

⁽¹⁾	Includes total borrowings under the accounts receivable securitization programs, the revolving credit facility and borrowings under lines of credit available to several subsidiaries.

⁽²⁾	As of December 31, 2015 and 2014, there were $56 million and $36 million of cash held on deposit, respectively, as a compensating balance for certain short-term borrowings.

⁽³⁾	Of the total available lines of credit, $892 million were committed as of December 31, 2015.

Covenants

Each issue of our outstanding senior notes imposes limitations on our operations and those of specified subsidiaries. The Second Amended and Restated Credit Agreement 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 Second Amended and Restated Credit Agreement). We were in compliance with the above financial covenants and limitations at December 31, 2015 and 2014.

Debt Maturities

The following table summarizes the scheduled annual maturities for the next five years and thereafter of our long-term debt, including the current portion of long-term debt and capital leases. This schedule represents the principle portion of our debt, and therefore excludes debt discounts, interest rate swaps and lender fees.

Year	Amount (in millions)
2016	$	46.6
2017		322.1
2018		71.9
2019		928.1
2020		425.3
Thereafter		2,562.3
Total	$	4,356.3

Derivatives and Hedging Activities

12 Months Ended

Dec. 31, 2015

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Activities

Note 12 Derivatives and Hedging Activities

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

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

We record the fair value positions of all derivative financial instruments on a net basis by counterparty for which a master netting arrangement is utilized.

Foreign Currency Forward Contracts Designated as Cash Flow Hedges

The primary purpose of our cash flow hedging activities is to manage the potential changes in value associated with the amounts receivable or payable on equipment and raw material purchases that are denominated in foreign currencies in order to minimize the impact of the changes in foreign currencies. We record gains and losses on foreign currency forward contracts qualifying as cash flow hedges in other comprehensive income to the extent that these hedges are effective and until we recognize the underlying transactions in net earnings, at which time we recognize these gains and losses in other expense, net, on our Consolidated Statements of Operations. Cash flows from derivative financial instruments are classified as cash flows from operating activities on the Consolidated Statements of Cash Flows. These contracts generally have original maturities of less than 12 months.

Net unrealized after-tax gains (losses) related to these contracts that were included in other comprehensive income were $5.9 million, $3.8 million and $2.6 million for the years ended December 31, 2015, 2014 and 2013. The unrealized amounts in other comprehensive income will fluctuate based on changes in the fair value of open contracts during each reporting period.

We estimate that $5.9 million of net unrealized derivative gains included in accumulated other comprehensive income (AOCI) will be reclassified into earnings within the next twelve months.

Foreign Currency Forward Contracts Not Designated as Hedges

Our subsidiaries have foreign currency exchange exposure from buying and selling in currencies other than their functional currencies. The primary purposes of our foreign currency hedging activities are to manage the potential changes in value associated with the amounts receivable or payable on transactions denominated in foreign currencies and to minimize the impact of the changes in foreign currencies related to foreign currency-denominated interest-bearing intercompany loans and receivables and payables. The changes in fair value of these derivative contracts are recognized in other income, net, on our Consolidated Statements of Operations and are largely offset by the remeasurement of the underlying foreign currency-denominated items indicated above. Cash flows from derivative financial instruments are classified as cash flows from investing activities on the Consolidated Statements of Cash Flows. These contracts generally have original maturities of less than 12 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.

In the fourth quarter of 2014, we terminated the swaps that we entered into in 2013. The swaps were associated with the 6.5% Senior Notes although the 6.5% Senior Notes remained outstanding. The termination resulted in a $3 million gain, which is being amortized over the remaining life of the 6.5% Senior Note and included in interest expense on our Consolidated Statements of Operations.

As a result of our interest rate swap agreements, interest expense was reduced by $2 million in 2014 and less than $1 million in 2013.

At December 31, 2015 and 2014 we had no outstanding interest rate swaps.

Interest Rate and Currency Swaps

In 2014, in connection with exercising the $100 million delayed draw under the senior secured credit facility, we entered into a series of interest rate and currency swaps in a notional amount of $100 million. These swaps convert the U.S. dollar denominated variable rate obligation under the credit facility into a fixed Brazilian real-denominated obligation. The delayed draw and the interest rate and currency swaps are used to fund expansion and general corporate purposes of our Brazilian subsidiaries.

Net Investment Hedge

During the second quarter of 2015, we entered into a series of foreign currency exchange forwards totaling €270 million. These foreign currency exchange forwards hedged a portion of the net investment in a certain European subsidiary against fluctuations in foreign exchange rates and expired in June 2015. The loss of $3.5 million ($2.2 million after tax) is recorded in AOCI on our Consolidated Balance Sheet.

The €400 million 4.50% notes issued in June 2015 are designated as a net investment hedge, hedging a portion of our net investment in a certain European subsidiary against fluctuations in foreign exchange rates. The change in the fair value of the debt was $(12.4) million ($(7.6) million after tax) at December 31, 2015, and is reflected in long-term debt on our Consolidated Balance Sheet.

In March 2015, we entered into a series of cross-currency swaps with a combined notional amount of $425 million, hedging a portion of the net investment in a certain European subsidiary against fluctuations in foreign exchange rates. The fair value of this hedge as of December 31, 2015 was $(12.0) million ($(7.4) million after tax) on our Consolidated Balance Sheet. Semi-annual interest settlements resulted in AOCI of $5.9 million ($3.6 million after tax).

For derivative instruments that are designated and qualify as hedges of net investments in foreign operations, settlements and changes in fair values of the derivative instruments are recognized in unrealized net gains or loss on derivative instruments for net investment hedge, a component of AOCI, net of taxes, to offset the changes in the values of the net investments being hedged. Any portion of the net investment hedge that is determined to be ineffective is recorded in other income, net on the Consolidated Statements of Operations

Other Derivative Instruments

During the second quarter of 2015, we entered into a series of foreign currency exchange options to partially protect our euro-denominated earnings from a decline in the value of the euro. The options expired during 2015.

We may enter into other derivative instruments from time to time to manage exposure to foreign exchange rates and to gain 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.

Fair Value of Derivative Instruments

See Note 13, “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.

The following table details the fair value of our derivative instruments included on our Consolidated Balance Sheets.

	Cash Flow Hedge						Net Investment Hedge					Non-Designated as Hedging Instruments						Total
	December 31,			December 31,			December 31,			December 31,		December 31,			December 31,			December 31,			December 31,
(In millions)	2015			2014			2015			2014		2015			2014			2015			2014
Derivative Assets
Foreign currency forward contracts	$	3.2		$	4.3		$	—		$	—	$	25.0		$	41.3		$	28.2		$	45.6
Interest rate and currency swaps		44.0			17.8			—			—		—			—			44.0			17.8
Total Derivative Assets ⁽²⁾	$	47.2		$	22.1		$	—		$	—	$	25.0		$	41.3		$	72.2		$	63.4

Derivative Liabilities
Foreign currency forward contracts	$	(1.3	)	$	(0.4	)	$	—		$	—	$	(43.5	)	$	(67.6	)	$	(44.8	)	$	(68.0	)
Cross-currency swaps		—			—			(12.0	)		—		—			—			(12.0	)		—
Total Derivative Liabilities⁽²⁾	$	(1.3	)	$	(0.4	)	$	(12.0	)	$	—	$	(43.5	)	$	(67.6	)	$	(56.8	)	$	(68.0	)
Net Derivatives ⁽¹⁾	$	45.9		$	21.7		$	(12.0	)	$	—	$	(18.5	)	$	(26.3	)	$	15.4		$	(4.6	)

⁽¹⁾	Excludes $437.3 million of euro-denominated debt designated as a net investment hedge at December 31, 2015.

⁽²⁾

The Company’s derivative transactions are typically governed by master agreements that contain netting and set-off clauses. The netting clauses often stipulate that matching counterparties may offset asset and liability positions of the same nature and maturing at the same time, with only the net payment due required to be delivered. The set-off provisions, in the event of certain default or termination events, can allow the non-defaulting party rights of set-off for net obligations owed by the defaulting party. The following table reconciles gross positions without the impact of master netting agreements to the balance sheet classification:

	Other Current Assets						Other Current Liabilities						Other Non-current Assets					Other Non-current Liabilities
	December 31,			December 31,			December 31,			December 31,			December 31,		December 31,			December 31,			December 31,
(In millions)	2015			2014			2015			2014			2015		2014			2015			2014
Gross position	$	36.2		$	34.3		$	(44.8	)	$	(48.8	)	$	36.0	$	27.1		$	(12.0	)	$	(17.2	)
Impact of master netting agreements		(24.1	)		(25.2	)		24.1			25.2			—		(9.3	)		—			9.3
Net amounts recognized on the Consolidated Balance Sheet	$	12.1		$	9.1		$	(20.7	)	$	(23.6	)	$	36.0	$	17.8		$	(12.0	)	$	(7.9	)

The following table details the effect of our derivative instruments on our Consolidated Statements of Operations.

	Amount of Gain (Loss) Recognized in
	Earnings on Derivatives
	Year Ended December 31,
(In millions)	2015		2014		2013
Derivatives designated as hedging instruments:
Cash Flow Hedges:
Foreign currency forward contracts⁽¹⁾	$	9.6	$	1.9	$	2.7
Interest rate and currency swaps⁽²⁾		36.9		13.5		—
Treasury locks⁽³⁾		0.1		0.1		0.1
Sub-total cash flow hedges		46.6		15.5		2.8
Fair Value Hedges:
Interest rate swaps		0.4		1.8		—
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		32.0		0.4		(8.5	)
Total	$	79.0	$	17.7	$	(5.7	)

⁽¹⁾

Amounts recognized on the foreign currency forward contracts were included in other income (expense), net.

⁽²⁾

As of December 31, 2015, amounts recognized on the interest rate and currency swaps included a $42.9 million gain which offset a loss on the remeasurement of the hedged debt, which is included in other income (expense), net and interest expense of $6.0 million related to the hedge of the interest payments. As of December 31, 2014, amounts recognized on the interest rate and currency swaps included a $16.5 million gain which offset a loss on remeasurement of the hedged debt, which is included in other income (expense), net and interest expense of $3.0 million related to the hedge of interest payments.

⁽³⁾	Amounts recognized on the treasury locks were included in interest expense.

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.

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-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5580258-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=56946850&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56946850&loc=d3e41638-113959

Reference 19: 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.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Fair Value Measurements and Other Financial Instruments

Fair Value Measurements and Other Financial Instruments

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Note 13 Fair Value Measurements and Other Financial Instruments

Fair Value Measurements

The fair value of our financial instruments, using the fair value hierarchy under U.S. GAAP detailed in “Fair Value Measurements,” of Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards,” are included in the table below.

	December 31, 2015
(In millions)	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents	$	56.3		$	48.3	$	8.0		$	—
Compensating balance deposits	$	56.5		$	56.5	$	—		$	—
Derivative financial and hedging instruments net asset (liability):
Foreign currency forward contracts	$	(16.5	)	$	—	$	(16.5	)	$	—
Interest rate and currency swaps	$	44.0		$	—	$	44.0		$	—
Cross-currency swaps	$	(12.0	)	$	—	$	(12.0	)	$	—

	December 31, 2014
(In millions)	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents⁽¹⁾⁽²⁾	$	28.5		$	23.2	$	5.3		$	—
Compensating balance deposits⁽¹⁾	$	36.2		$	36.2	$	—		$	—
Derivative financial instruments net asset (liability):
Foreign currency forward contracts	$	(22.4	)	$	—	$	(22.4	)	$	—
Interest rate and currency swaps	$	17.8		$	—	$	17.8		$	—

⁽¹⁾

For the year ended December 31, 2014 we reclassified $36.2 million of deposits held as compensating balances for certain short-term borrowings from cash to other current and other non-current assets. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards,” under the heading “Reclassifications and Revisions” for additional details on this revision.

⁽²⁾	Within the fair value hierarchy, we reclassified $23.2 million of bank time deposits from Level 2 to Level 1. See below for additional disclosures on cash equivalents disclosed in the table above.

Cash Equivalents

Our cash equivalents at December 31, 2015 and 2014 consisted of commercial paper (fair value determined using Level 2 inputs) and bank time deposits (Level 1). 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.

Compensating Balance Deposits

We have compensating balance deposits related to certain short-term borrowings. These represent bank certificates of deposits with maturities of greater than 3 months.

Derivative Financial Instruments

Our foreign currency forward contracts, foreign currency options, euro-denominated debt, interest rate and currency swaps and cross-currency swaps are recorded at fair value on our Consolidated Balance Sheets using a discounted cash flow analysis that incorporates observable market inputs. These market inputs include foreign currency spot and forward rates, and various interest rate curves, and are obtained from pricing data quoted by various banks, third party sources and foreign currency dealers involving identical or comparable instruments (Level 2).

Counterparties to these foreign currency forward contracts are rated at least BBB+ by Standard & Poor’s and A3 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 any 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 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 Consolidated Balance Sheets include our senior notes. We utilize a market approach to calculate the fair value of our senior notes. Due to their limited investor base and the face value of some of our senior notes, they may not be actively traded on the date we calculate their fair value. Therefore, we may utilize prices and other relevant information generated by market transactions involving similar securities, reflecting U.S. Treasury yields to calculate the yield to maturity and the price on some of our senior notes. These inputs are provided by an independent third party and are considered to be Level 2 inputs.

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

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

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

	December 31, 2015				December 31, 2014
	Carrying		Fair		Carrying		Fair
(In millions)	Amount		Value		Amount		Value
Term Loan A Facility due July 2017	$	249.8	$	249.8	$	249.7	$	249.7
Term Loan A Facility due July 2019⁽¹⁾		1,105.4		1,105.4		1,129.4		1,129.4
6.50% Senior Notes due December 2020		427.6		473.7		428.1		469.7
8.375% Senior Notes due September 2021		—		—		750.0		843.3
4.875% Senior Notes due December 2022		425.0		426.5		425.0		423.3
5.25% Senior Notes due April 2023		425.0		436.2		425.0		429.6
4.50% Senior Notes due September 2023⁽¹⁾		437.3		452.7		—		—
5.125% Senior Notes due December 2024		425.0		427.6		425.0		428.5
5.50% Senior Notes due September 2025		400.0		410.2		—		—
6.875% Senior Notes due July 2033		448.7		462.7		448.7		462.9
Other foreign loans⁽¹⁾		165.7		165.8		73.9		73.8
Other domestic loans		81.7		81.9		71.5		71.5
Total debt	$	4,591.2	$	4,692.5	$	4,426.3	$	4,581.7

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

As of December 31, 2015, we did not have any non–financial assets and liabilities, aside from contingent consideration liabilities related to acquisitions and certain equity compensation, that were carried at fair value on a recurring basis in the Consolidated Financial Statements or for which a fair value measurement was required. Included among our non-financial assets and liabilities that are not required to be measured at fair value on a recurring basis are inventories, net property and equipment, goodwill, intangible assets and asset retirement obligations. Refer to Note 3 “Divestitures and Acquisitions” for information regarding contingent consideration and Note 18 “Stockholders’ Equity” for share based compensation.

Credit and Market Risk

Financial instruments, including derivatives, expose us to counterparty credit risk for nonperformance and to market risk related to changes in interest or currency exchange rates. We manage our exposure to counterparty credit risk through specific minimum credit standards, establishing credit limits, diversification of counterparties, and procedures to monitor concentrations of credit risk.

We do not expect any of our counterparties in derivative transactions to fail to perform as it is our policy to have counterparties to these contracts that are rated at least BBB- or higher by Standard & Poor’s and Baa3 or higher by Moody’s. Nevertheless, there is a risk that our exposure to losses arising out of derivative contracts could be material if the counterparties to these agreements fail to perform their obligations. We will replace counterparties if a credit downgrade is deemed to increase our risk to unacceptable levels.

We regularly monitor the impact of market risk on the fair value and cash flows of our derivative and other financial instruments considering reasonably possible changes in interest and currency exchange rates and restrict the use of derivative financial instruments to hedging activities. We do not use derivative financial instruments for trading or other speculative purposes and do not use leveraged derivative financial instruments.

We continually monitor the creditworthiness of our diverse base of customers to which we grant credit terms in the normal course of business and generally do not require collateral. We consider the concentrations of credit risk associated with our trade accounts receivable to be commercially reasonable and believe that such concentrations do not leave us vulnerable to significant risks of near-term severe adverse impacts. The terms and conditions of our credit sales are designed to mitigate concentrations of credit risk with any single customer. Our sales are not materially dependent on a single customer or a small group of customers.

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.

Compensation And Retirement Disclosure [Abstract]

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans

12 Months Ended

Dec. 31, 2015

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans

Note 14 Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans

Profit Sharing and Retirement Savings Plans

We have a qualified non-contributory profit sharing plan covering most of our U.S. employees. Contributions to this plan, which are made at the discretion of our Board of Directors, may be made in cash, shares of our common stock, or in a combination of cash and shares of our common stock. We also maintain qualified contributory retirement savings plans in which most of our U.S. employees are eligible to participate. The qualified contributory retirement savings plans generally provide for our contributions in cash based upon the amount contributed to the plans by the participants.

Our contributions to our provisions for the profit sharing plan and retirement savings plans are charged to operations and amounted to $55 million in 2015, $50 million in 2014, and $51 million in 2013. In 2015, 0.8 million shares were contributed as part of our contribution to the profit sharing plan related to 2014; in 2014, 1.0 million shares were contributed as part of our contribution to the profit sharing plan related to 2013, and in 2013, 0.9 million shares were contributed as part of our contribution to the profit sharing plan related to 2012. These shares were issued out of treasury stock.

We have various international defined contribution benefit plans which cover certain employees. We have expanded use of these plans in select countries where they have been used to supplement or replace defined benefit plans.

Defined Benefit Pension Plans

We recognize the funded status of each defined pension benefit plan as the difference between the fair value of plan assets and the projected benefit obligation of the employee benefit plans in the Consolidated Balance Sheet, with a corresponding adjustment to accumulate other comprehensive loss, net of taxes. Each overfunded plan is recognized as an asset and each underfunded plan is recognized as a liability on our Consolidated Balance Sheet. Subsequent changes in the funded status are recorded in unrecognized pension items, a component of accumulated other comprehensive loss, that is included in total stockholders’ equity. The amount of unamortized pension items is recorded net of tax. The measurement date used to determine the projected benefit obligation and the fair value of plan assets is December 31.

We have amortized actuarial gains or losses over the average future working lifetime (or remaining lifetime of inactive participants if there are no active participants). We have used the corridor method, where the corridor is the greater of ten percent of the projected benefit obligation or fair value of assets at year end. If actuarial gains or losses do not exceed the corridor, then there is no amortization of gain or loss.

The following table shows the components of our net periodic benefit cost for the three years ended December 31, for our pension plans charged to operations:

	Year Ended December 31,
(In millions)	2015			2014		2013
Net periodic benefit cost:
U.S. and international net periodic benefit (income) cost included in cost of sales	$	(0.5	)	$	5.6	$	5.8
U.S. and international net periodic benefit cost included in selling, general and administrative expenses		10.7			10.6		11.2
Total benefit cost	$	10.2		$	16.2	$	17.0

The amount recorded in inventory for the year ended December 31, 2015, 2014 and 2013 was not material.

A number of our U.S. employees, including some employees who are covered by collective bargaining agreements, participate in defined benefit pension plans. Some of our international employees participate in defined benefit pension plans in their respective countries. The following table presents our funded status for 2015 and 2014 for our U.S. and international pension plans. The measurement date used to determine benefit obligations is December 31 for all material plans (November 30 for non-material plans). The measurement date used to determine plan assets is December 31 for all plans:

	December 31,									December 31,
	2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	221.4		$	1,148.1		$	1,369.5		$	192.2		$	1,070.4		$	1,262.6
Service cost		0.7			10.6			11.3			1.1			8.9			10.0
Interest cost		8.6			29.0			37.6			8.7			39.3			48.0
Actuarial loss (gain)		(3.5	)		15.2			11.7			31.4			186.5			217.9
Settlement/curtailment		(4.9	)		(6.5	)		(11.4	)	—				(9.6	)		(9.6	)
Benefits paid		(13.7	)		(34.5	)		(48.2	)		(12.0	)		(36.6	)		(48.6	)
Employee contributions	—				3.5			3.5		—				3.4			3.4
Other⁽¹⁾		6.4			27.1			33.5		—				0.3			0.3
Foreign exchange impact	—				(88.0	)		(88.0	)	—				(114.5	)		(114.5	)
Projected benefit obligation at end of period		215.0			1,104.5			1,319.5			221.4			1,148.1			1,369.5
Change in plan assets:
Fair value of plan assets at beginning of period		181.6			862.4			1,044.0			177.4			845.8			1,023.2
Actual return on plan assets		(5.6	)		20.0			14.4			14.4			106.7			121.1
Employer contributions		0.5			28.2			28.7			2.6			33.5			36.1
Employee contributions	—				3.5			3.5		—				3.4			3.4
Benefits paid		(13.7	)		(34.5	)		(48.2	)		(12.0	)		(36.6	)		(48.6	)
Settlement/curtailment		(5.9	)		(2.3	)		(8.2	)	—				(9.6	)		(9.6	)
Other		(0.2	)		(1.9	)		(2.1	)		(0.8	)		2.6			1.8
Foreign exchange impact	—				(62.1	)		(62.1	)	—				(83.4	)		(83.4	)
Fair value of plan assets at end of period		156.7			813.3			970.0			181.6			862.4			1,044.0
Underfunded status at end of year	$	(58.3	)	$	(291.2	)	$	(349.5	)	$	(39.8	)	$	(285.7	)	$	(325.5	)
Accumulated benefit obligation at end of year	$	210.4		$	1,065.6		$	1,276.0		$	218.0		$	1,096.6		$	1,314.6

⁽¹⁾	Other changes in the benefit obligation as of December 31, 2015 included the addition of the French plans of $27.3 million which were not included in our valuation in prior years.

Amounts included in the Consolidated Balance Sheet consisted of:

	December 31,									December 31,
	2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total
Other assets	$	—		$	33.7		$	33.7		$	—		$	25.0		$	25.0
Other current liabilities	—				(4.0	)		(4.0	)	—				(4.1	)		(4.1	)
Other liabilities		(58.3	)		(319.8	)		(378.1	)		(39.8	)		(306.6	)		(346.4	)
Net amount recognized	$	(58.3	)	$	(290.1	)	$	(348.4	)	$	(39.8	)	$	(285.7	)	$	(325.5	)

The following table shows the components of our net periodic benefit cost (income) for the three years ended December 31, for our pension plans charged to operations:

	December 31,									December 31,									December 31,
	2015									2014									2013
(In millions)	U.S.			International			Total			U.S.			International			Total			U.S.			International			Total
Components of net periodic benefit cost or (income):
Service cost	$	0.7		$	10.6		$	11.3		$	1.1		$	8.9		$	10.0		$	1.3		$	11.0		$	12.3
Interest cost		8.6			29.0			37.6			8.7			39.3			48.0			7.9			35.5			43.4
Expected return on plan assets		(11.4	)		(39.3	)		(50.7	)		(11.2	)		(42.9	)		(54.1	)		(11.1	)		(38.1	)		(49.2	)
Amortization of net prior service cost	—				0.1			0.1			—			0.1			0.1			0.2			0.2			0.4
Amortization of net actuarial loss		1.8			8.9			10.7			0.8			9.1			9.9			2.2			7.8			10.0
Net periodic benefit cost (income)		(0.3	)		9.3			9.0			(0.6	)		14.5			13.9			0.5			16.4			16.9
Cost (income) of settlement/curtailment		1.6			(0.4	)		1.2			—			2.3			2.3			(0.7	)		0.8			0.1
Total benefit cost (income)	$	1.3		$	8.9		$	10.2		$	(0.6	)	$	16.8		$	16.2		$	(0.2	)	$	17.2		$	17.0

The amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at December 31, 2015 and 2014 are:

	December 31,						December 31,
	2015						2014
(In millions)	U.S.		International		Total		U.S.		International		Total
Unrecognized prior service costs	$	—	$	0.1	$	0.1	$	—	$	0.5	$	0.5
Unrecognized net actuarial loss		40.9		321.2		362.1		29.7		299.1		328.8
Total	$	40.9	$	321.3	$	362.2	$	29.7	$	299.6	$	329.3

Changes in plan assets and benefit obligations recognized in other comprehensive loss (income) at December 31, 2015 and 2014 were as follows:

	December 31,									December 31,
	2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total
Current year actuarial (gain) loss	$	14.6		$	30.2		$	44.8		$	28.3		$	119.0		$	147.3
Amortization of actuarial loss		(1.7	)		(8.9	)		(10.6	)		(0.8	)		(9.1	)		(9.9	)
Amortization of prior service cost	—				(0.1	)		(0.1	)		(0.1	)		—			(0.1	)
Settlement/curtailment (gain) loss		(1.6	)		0.4			(1.2	)		—			(2.3	)		(2.3	)
Total recognized in other comprehensive loss	$	11.3		$	21.6		$	32.9		$	27.4		$	107.6		$	135.0

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the year ended December 31, 2016 are as follows:

	Year ended
	2015
(In millions)	U.S.		International		Total
Unrecognized prior service costs	$	—	$	0.2	$	0.2
Unrecognized net actuarial loss		1.9		8.9		10.8
Total	$	1.9	$	9.1	$	11.0

Information for plans with accumulated benefit obligations in excess of plan assets as of December 31, 2015 and 2014 are as follows:

	December 31,						December 31,
	2015						2014
(In millions)	U.S.		International		Total		U.S.		International		Total
Accumulated benefit obligation	$	210.4	$	751.4	$	961.8	$	218.0	$	908.3	$	1,126.3
Fair value of plan assets		156.7		458.3		615.0		181.6		643.8		825.4

Actuarial Assumptions

Weighted average assumptions used to determine benefit obligations at December 31, 2015 and 2014 were as follows:

	December 31,						December 31,
	2015						2014
(In millions)	U.S.			International			U.S.			International
Benefit obligations
Discount rate		4.3	%		2.6	%		3.9	%		2.7	%
Rate of compensation increase		3.0	%		2.5	%		3.0	%		2.7	%

Weighted average assumptions used to determine net periodic benefit cost for the three years ended December 31, were as follows:

	December 31,						December 31,						December 31,
	2015						2014						2013
(In millions)	U.S.			International			U.S.			International			U.S.			International
Net periodic benefit cost
Discount rate		3.9	%		2.7	%		4.6	%		3.8	%		3.8	%		3.7	%
Expected long-term rate of return		6.5	%		4.9	%		6.5	%		5.2	%		6.5	%		5.0	%
Rate of compensation increase		3.0	%		2.7	%		3.0	%		2.9	%		3.5	%		2.8	%

Effective December 31, 2015, the Company changed the approach used to calculate the service and interest components of net periodic benefit cost for certain of its International and U.S. benefit plans to provide a more precise measurement of service and interest costs. The change was applied to plans in countries where the benefit obligation was approximately $50 million or higher, and for which a yield curve is used to measure the benefit obligation. Historically, the Company calculated the service and interest cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. Going forward, the Company has elected to utilize an approach that discounts the individual expected cash flows using the applicable spot rates derived from the yield curve over the projected cash flow period. Based on current economic conditions, the Company estimates that the service cost and interest cost for these benefit plans will be reduced by approximately $4 million in 2016. The Company has accounted for this change as a change in accounting estimate that is inseparable from a change in accounting principle and accordingly has accounted for it prospectively.

In 2015, we adopted the Society of Actuaries Retirement Plan 2015 (RP-2015) table with Mortality Projection 2015 (MP-2015) improvement scale for all of our U.S. plans.

Estimated Future Benefit Payments

We expect the following estimated future benefit payments, which reflect expected future service as appropriate, to be paid in the years indicated:

	Amount
(In millions)	U.S.		International		Total
Year
2016	$	14.4	$	33.8	$	48.2
2017		13.8		32.7		46.5
2018		14.5		33.7		48.2
2019		14.3		34.9		49.2
2020		13.4		36.4		49.8
Thereafter		69.0		207.9		276.9
Total	$	139.4	$	379.4	$	518.8

Plan Assets

We review the expected long-term rate of return on plan assets annually, taking into consideration our asset allocation, historical returns, and the current economic environment. The expected return on plan assets is calculated based on the fair value of plan assets at year end. To determine the expected return on plan assets, expected cash flows have been taken into account.

Our long-term objectives for plan investments are to ensure that (a) there is an adequate level of assets to support benefit obligations to participants over the life of the plans, (b) there is sufficient liquidity in plan assets to cover current benefit obligations, and (c) there is a high level of investment return consistent with a prudent level of investment risk. The investment strategy is focused on a long-term total return in excess of a pure fixed income strategy with short-term volatility less than that of a pure equity strategy. To accomplish this objective, we invest assets primarily in a diversified mix of equity and fixed income investments. For U.S. plans, the target asset allocation will typically be 40-50% in equity securities, with a maximum equity allocation of 70%, and 50-60% in fixed income securities, with a minimum fixed income allocation of 30% including cash.

The fair values of our U.S. and international pension plan assets, by asset category and by the level of fair values are as follows:

	2015								2014
	Total								Total
(In millions)	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
Cash and cash equivalents⁽¹⁾	$	6.3	$	2.1	$	4.2	$	—	$	9.6	$	4.8	$	4.8	$	—
Fixed income funds⁽²⁾		440.8	—			440.8	—			495.2		—		495.2		—
Equity funds⁽³⁾		380.0	—			380.0	—			392.8		—		392.8		—
Other⁽⁴⁾		142.9	—			26.0		116.9		146.4		—		23.2		123.2
Total	$	970.0	$	2.1	$	851.0	$	116.9	$	1,044.0	$	4.8	$	916.0	$	123.2

⁽¹⁾

Short-term investment fund that invests in a collective trust that holds short-term highly liquid investments with principal preservation and daily liquidity as its primary objectives. Investments are primarily comprised of certificates of deposit, government securities, commercial paper, and time deposits.

⁽²⁾	Fixed income funds that invest in a diversified portfolio primarily consisting of publicly traded government bonds and corporate bonds. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end.

⁽³⁾	Equity funds that invest in a diversified portfolio of publicly traded domestic and international common stock, with an emphasis in European equities. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end.

⁽⁴⁾

The majority of these assets are invested in real estate funds and other alternative investments. Also includes guaranteed insurance contracts, which consists of Company and employee contributions and accumulated interest income at guaranteed stated interest rates and provides for benefit payments and plan expenses.

The following table shows the activity of our U.S. and international plan assets, which are measured at fair value using Level 3 inputs.

	December 31,			December 31,
(In millions)	2015			2014
Balance at beginning of period	$	123.2		$	87.5
Gains on assets still held at end of year		6.1			5.3
Purchases, sales, issuance, and settlements		(1.1	)		10.5
Transfers in and/or out of Level 3		(4.9	)		31.3
Foreign exchange (loss)/gain		(6.4	)		(11.4	)
Balance at end of period	$	116.9		$	123.2

Other Post-Employment Benefits and Other Employee Benefit Plans

12 Months Ended

Dec. 31, 2015

Compensation And Retirement Disclosure [Abstract]

Other Post-Employment Benefits and Other Employee Benefit Plans

Note 15 Other Post-Employment Benefits and Other Employee Benefit Plans

In addition to providing pension benefits, we provide for a portion of healthcare, dental, vision and life insurance benefits for certain retired legacy Diversey employees, primarily in North America. Covered employees retiring on or after attaining age 55 and who have rendered at least ten years of service are entitled to post-retirement healthcare, dental and life insurance benefits. These benefits are subject to deductibles, co-payment provisions and other limitations.

Contributions made by us, net of Medicare Part D subsidies received in the U.S., are reported below as benefits paid. We may change the benefits at any time. We have elected to amortize the transition obligation over a 20-year period. The status of these plans, including a reconciliation of benefit obligations, a reconciliation of plan assets and the funded status of the plans, follows:

	December 31,			December 31,
(In millions)	2015			2014
Change in benefit obligations:
Benefit obligation at beginning of period	$	79.8		$	73.1
Service cost		0.9			0.8
Interest cost		3.0			3.2
Actuarial loss (gain)		(4.7	)		7.2
Benefits paid, net		(4.1	)		(4.2	)
Loss due to exchange rate movements		(0.6	)		(0.5	)
Plan amendments		(8.5	)		0.2
Benefit obligation at end of period	$	65.8		$	79.8
Change in plan assets:
Fair value of plan assets at beginning of period	$	—		$	—
Employer contribution		4.1			4.2
Benefits paid, net		(4.1	)		(4.2	)
Fair value of plan assets at end of period	$	—		$	—
Net amount recognized:
Underfunded status	$	(65.8	)	$	(79.8	)
Accumulated benefit obligation at end of year	$	52.7		$	61.6
Net amount recognized in consolidated balance sheets consists of:
Current liability		(5.1	)		(5.3	)
Noncurrent liability		(60.7	)		(74.5	)
Net amount recognized	$	(65.8	)	$	(79.8	)
Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	$	8.6		$	13.8
Prior service credit		(17.6	)		(11.2	)
Total	$	(9.0	)	$	2.6

The accumulated post-retirement benefit obligations were determined using a weighted-average discount rate of 4.0% at December 31, 2015 and 3.9% at December 31, 2014. The components of net periodic benefit cost for the three years ended December 31 were as follows:

(In millions)	2015			2014			2013
Components of net periodic benefit cost:
Service cost	$	0.9		$	0.8		$	0.9
Interest cost		3.0			3.2			3.0
Amortization of net loss		0.4			0.1			0.4
Amortization of prior service credit		(0.8	)		(0.7	)		(0.7	)
Net periodic benefit cost	$	3.5		$	3.4		$	3.6

The amounts in accumulated other comprehensive loss at December 31, 2015 that are expected to be recognized as components of net periodic benefit cost during the next fiscal year are as follows (in millions):

	December 31,
(In millions)	2016
Unrecognized prior service costs	$	(1.5	)
Unrecognized net actuarial loss		0.1
Total		(1.4	)

Healthcare Cost Trend Rates

For the year ended December 31, 2015, healthcare cost trend rates were assumed to be 4.0% for the Belgian plan, 6.5% for the U.S. plan in 2015 and decreasing to 5.0% by 2022, and 6.0% for the Canada plan in 2015 decreasing to 5.0% by 2018. The assumed healthcare cost trend rate has an effect on the amounts reported for the healthcare plans. A one percentage point change on assumed healthcare cost trend rates would have the following effect for the year ended December 31, 2015 (in millions):

	1% Increase		1% Decrease
Effect on total of service and interest cost components	$	0.2	$	(0.1	)
Effect on post-retirement benefit obligation		3.5		(0.3	)

The amortization of any prior service cost is determined using a straight-line amortization of the cost over the average remaining service period of employees expected to receive benefits under the plan.

Expected post-retirement benefits (net of Medicare Part D subsidies) for each of the next five years and succeeding five years are as follows (in millions):

Year	Amount
2016	$	5.2
2017		5.1
2018		5.0
2019		5.0
2020		5.1
Thereafter		21.6
Total	$	47.0

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

Note 16 Income Taxes

The components of earnings (loss) from continuing operations before income tax provision were as follows:

	Year Ended December 31,
(In millions)	2015		2014			2013
Domestic	$	102.8	$	(62.2	)	$	(92.6	)
Foreign		323.1		329.4			272.8
Total	$	425.9	$	267.2		$	180.2

The components of our income tax provision (benefit) were as follows:

	Year Ended December 31,
(In millions)	2015			2014			2013
Current tax expense (benefit):
Federal	$	6.3		$	(216.0	)	$	(4.3	)
State and local		7.3			0.2			(3.9	)
Foreign		99.5			78.7			89.3
Total current expense (benefit)		113.1			(137.1	)		81.1
Deferred tax expense (benefit) :
Federal		(35.7	)		176.8			4.2
State and local		10.9			(27.2	)		10.4
Foreign		2.2			(3.4	)		(10.8	)
Total deferred tax expense (benefit)		(22.6	)		146.2			3.8
Total income tax provision	$	90.5		$	9.1		$	84.9

The Company’s income taxes payable have been reduced by the tax benefits from employee stock plan awards. The excess tax benefit recorded as an increase to additional paid-in capital was $13 million in 2015 and less than $1 million in 2014 and 2013.

Deferred tax assets (liabilities) consist of the following:

	December 31,			December 31,
(In millions)	2015			2014
Restructuring reserves	$	9.1		$	4.7
Accruals not yet deductible for tax purposes		45.6			56.5
Net operating loss carry forwards		250.1			291.1
Foreign, federal and state credits and investment tax allowances		162.2			109.3
Employee benefit items		166.5			163.8
Other		37.5			44.1
Gross deferred tax assets		671.0			669.5
Valuation allowance		(257.4	)		(227.8	)
Total deferred tax assets		413.6			441.7
Depreciation and amortization		(30.3	)		(40.0	)
Unremitted foreign earnings		(44.1	)		(130.0	)
Intangibles		(209.6	)		(214.2	)
Other		—			(11.7	)
Total deferred tax liabilities		(284.0	)		(395.9	)
Net deferred tax assets	$	129.6		$	45.8

The increase in net deferred tax assets is primarily attributable to the decrease in the liability on unremitted earnings and the recognition of foreign tax credits, partially offset by a decrease in the net operating loss asset.

The unremitted foreign earnings liability decreased due to the Company’s ability to recognize the benefits of foreign tax credits associated with repatriated earnings.

The net operating loss carryforwards decreased as a result of the domestic prior year taxable income adjustment from the OFL recapture, offset in part by an increase in foreign net operating losses.

The Company’s foreign tax credits increased as a result of the ability to utilize favorable tax attributes which allows for realization of foreign tax credits.

We have concluded that it is more likely than not that we will realize the majority of deferred tax assets at December 31, 2015. In assessing the need for a valuation allowance, we estimate future reversals of existing temporary differences, future taxable earnings, taxable income in carryback periods and tax planning strategies to determine which deferred tax assets are more likely than not to be realized in the future. Changes to tax laws, statutory tax rates and future taxable earnings can have an impact on valuation allowances related to deferred tax assets.

A valuation allowance has been provided based on the uncertainty of utilizing the tax benefits related to the following deferred tax assets:

—

$162 million of foreign net operating losses;

—

$16 million of foreign credits;

—

$12 million of foreign accruals and employee benefit items;

—

$53 million of state net operating loss carry forwards; and

—

$14 million of state tax credits.

For the year ended December 31, 2015, the valuation allowance increased by $30 million. The increase is primarily related to recording additional valuation allowance on certain foreign and state net operating losses partially offset by a decrease of $58 million primarily based on the expectation that the Company will realize the majority of its foreign tax credits. The ability to realize additional foreign tax credits is attributable to the existence of a tax attribute generated in prior years which allows for foreign tax credit utilization and a decrease in the 2014 net operating loss related to provision to return adjustments. Included in the $58 million valuation allowance decrease is $29 million of foreign tax credits recognized as a result of the reserve on a portion of the Settlement Agreement payment. A valuation allowance for state net operating losses included approximately $5 million that upon reversal would be recorded as a credit to additional paid in capital.

As of December 31, 2015, we have foreign net operating loss carry forwards of $800 million expiring in years beginning in 2016 with the majority of losses having an unlimited carryover. The state net operating loss carryforwards totaling $1.5 billion expire in various amounts over one to 20 years.

As of December 31, 2015, we have foreign and federal foreign tax credit carry forwards and investment allowances totaling $199 million that expire in calendar year 2016 through 2035. $67 million of foreign tax credits will expire in 2016 if not utilized; we have provided a valuation allowance for the portion of credits expected to expire unutilized. We have $22 million of state credit carryovers expiring in 2016 – 2035. We have provided a full valuation allowance on the state credits.

The Company has provided a $44 million deferred tax liability for unremitted foreign earnings, which is net of foreign tax credits of approximately $124 million. The liability relates to approximately $1.5 billion of our foreign subsidiaries’ accumulated earnings that the Company plans to repatriate.

The Company has not recorded a deferred tax liability related to the federal and state income taxes and foreign withholding taxes on approximately $5.1 billion of undistributed earnings of certain foreign subsidiaries indefinitely reinvested. Upon repatriation of those earnings the Company could be subject to both U.S. income taxes and withholding taxes payable to the various foreign countries. Determination of the amount of unrecognized deferred U.S. income tax liability is not practicable due to the complexities associated with its hypothetical calculation; however, unrecognized foreign tax credits would be available to reduce a portion of the U.S. tax liability.

We recorded an excess tax benefit of $46 million as an out of period adjustment in December 2015 and $38 million in December 2014 related to shares of Common Stock issued in the Settlement agreement.

A reconciliation of the provision for income taxes, with the amount computed by applying the statutory federal income tax rate (35%) to income before provision for income taxes, is as follows (dollars in millions):

	Year Ended December 31,
	2015					2014					2013
Computed expected tax	$	149.1		35.0	%	$	93.5		35.0	%	$	63.0		35.0	%
State income taxes, net of federal tax benefit		5.2		1.2	%		(5.7	)	(2.1	)%		(2.2	)	(1.2	)%
Foreign earnings taxed at lower rates		(21.8	)	(5.1	)%		(35.2	)	(13.2	)%		(15.9	)	(8.8	)%
U.S. tax on foreign earnings		12.1		2.8	%		10.5		3.9	%		8.6		4.8	%
Foreign tax credits		(54.4	)	(12.8	)%		—		(—	)%		—		(—	)%
Unremitted foreign earnings		(86.0	)	(20.2	)%		(5.2	)	(1.9	)%		—		(—	)%
Overall foreign loss recapture		67.9		16.0	%		—		(—	)%		—		(—	)%
Net change in valuation allowance		(58.2	)	(13.7	)%		(13.2	)	(4.9	)%		40.3		22.4	%
Net change in unrecognized tax benefits		56.8		13.3	%		(23.4	)	(8.8	)%		3.6		2.0	%
Reorganization tax benefit		—		(—	)%		(2.2	)	(0.9	)%		(12.0	)	(6.7	)%
Other		19.8		4.7	%		(10.0	)	(3.7	)%		(0.5	)	(0.3	)%
Effective income tax rate	$	90.5		21.2	%	$	9.1		3.4	%	$	84.9		47.1	%

The primary adjustments to the statutory rate in 2015 were the following items:

—

decrease in tax expense related to unremitted earnings based on the Company’s ability to repatriate earnings in a tax efficient manner and utilize foreign tax credits against the expected U.S liability

—

net benefit for reduction in valuation allowance primarily based on management’s expectation that the majority of the foreign tax credits will be utilized

—

benefit of recording foreign tax credits including a benefit for 2014 credits originally deducted but now planned to directly reduce the U.S tax liability

—

increase in tax expense for recapture of the 2014 OFL in the U.S. in connection with the 2014 reorganization

—

increase in tax expense for reserve established in connection with Settlement payment offset by reductions in reserves for lapses in statute of limitations.

Tax expense for 2015 includes an $11 million benefit from adjustments that would appropriately be recorded in a prior period, but which management has determined are not material to the financial statements and therefore included in current year. These items include income from OFL recapture, benefit from recognition of foreign tax credits, deferred tax adjustments and additional domestic taxable income from foreign sources.

Unrecognized Tax Benefits

We are providing the following disclosures related to our unrecognized tax benefits and the effect on our effective income tax rate if recognized (in millions):

	Year Ended December 31,
	2015			2014			2013
Beginning balance of unrecognized tax benefits	$	188.9		$	221.9		$	233.2
Additions for tax positions of current year		3.1			5.2			7.5
Additions for tax positions of prior years		111.9			7.7			5.0
Reductions for tax positions of prior years		(64.8	)		(45.9	)		(23.8	)
Ending balance of unrecognized tax benefits	$	239.1		$	188.9		$	221.9

In 2015, we increased our unrecognized tax benefit by $50 million, primarily related to the recording of a reserve related to the Settlement payment which was partially offset by the release of $58 million of tax reserves for which the statute of limitations has expired and were primarily recorded at the time of the Diversey Holdings, Inc. acquisition. The decrease in unrecognized tax benefits in 2014 was primarily due to a release of reserves in connection with funding the Settlement agreement, an amnesty program available in a foreign jurisdiction and approximately $6 million of payments made in connection with that program.

If the unrecognized tax benefits at December 31, 2015 were recognized, our income tax provision would decrease by $204 million, resulting in a substantially lower effective tax rate. Based on the potential outcome of the Company’s global tax examinations and the expiration of the statute of limitations for specific jurisdictions, it is reasonably possible that the unrecognized tax benefits will change within the next 12 months. The associated impact on the reserve balance is estimated to be a decrease in the range of $0 to $48 million.

We recognize interest and penalties related to unrecognized tax benefits in income tax provision in the Consolidated Statements of Operations. We had a liability of approximately of$29 million (of which $10 million represents penalties) at December 31, 2015 for the payment of interest and penalties (before any tax benefit), a liability of $29 million (of which $11 million represents penalties) at December 31, 2014 and a liability of approximately $27 million (of which $12 million represents penalties) at December 31, 2013. In 2015, there was a negligible change in interest and penalties in the tax accruals for uncertainties in prior years. In 2014 and 2013, interest and penalties of $4 million and $5 million respectively were reversed in connection with the related tax accruals for uncertainties in prior years.

Income Tax Returns

The Internal Revenue Service (the “Service”) has concluded its examination of the legacy Sealed Air U.S. federal income tax returns for all years through 2008, except 2007 remains open to the extent of a capital loss carryback. The Service is currently auditing the 2007 and 2010 consolidated U.S. federal income tax returns of legacy Sealed Air. We are also under examination by the IRS with respect to the Settlement agreement deduction in 2014. The outcome of the negotiations may affect the utilization of certain tax attributes and require us to return a portion of the refund.

State income tax returns are generally subject to examination for a period of three to five years after their filing date. We have various state income tax returns in the process of examination, and are open to examination for periods after 2002.

Our foreign income tax returns are under examination in various jurisdictions in which we conduct business. Income tax returns in foreign jurisdictions have statutes of limitations generally ranging from three to five years after their filing date and except where still under examination or where we are litigating, we have generally concluded all other income tax matters globally for years through 2007.

Management believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 17 Commitments and Contingencies

Cryovac Transaction Commitments and Contingencies

Settlement Agreement and Related Costs

As discussed below, on February 3, 2014 (the “Effective Date”), the PI Settlement Plan (as defined below) implementing the Settlement agreement (as defined below) became effective with W. R. Grace & Co., or Grace, emerging from bankruptcy and the injunctions and releases provided by the PI Settlement Plan becoming effective. The Settlement agreement provided for resolution of current and future asbestos-related claims, fraudulent transfer claims, and successor liability claims made against the Company and our affiliates in connection with the Cryovac transaction described below, as well as indemnification claims by Fresenius Medical Care Holdings, Inc. and affiliated companies in connection with the Cryovac transaction. On the Effective Date, the Company’s subsidiary, Cryovac, Inc., made the payments contemplated by the Settlement agreement, consisting of aggregate cash payments in the amount of $929.7 million to the WRG Asbestos PI Trust (the “PI Trust”) and the WRG Asbestos PD Trust (the “PD Trust”) and the transfer of 18 million shares of Sealed Air common stock (the “Settlement Shares”) to the PI Trust, in each case reflecting adjustments made in accordance with the Settlement agreement. To fund the cash payment, we used $555 million of cash and cash equivalents and utilized borrowings of $260 million from our revolving credit facility and $115 million from our accounts receivable securitization programs. In connection with the issuance of the Settlement Shares and their transfer to the PI Trust by Cryovac, the Company entered into a Registration Rights Agreement, dated as of February 3, 2014 (the “Registration Rights Agreement”), with the PI Trust as initial holder of the Settlement Shares. In accordance with the Registration Rights Agreement, the Company filed with the SEC a shelf registration statement covering resales of the Settlement Shares on April 4, 2014, and the shelf registration statement became effective on such date. On June 13, 2014, we repurchased $130 million, or 3,932,244 shares, of common stock at a price of $33.06 per share from the PI Trust (See Note 18, ‘Stockholders’ Equity” for further details).

We are currently under examination by the IRS with respect to the deduction of the approximately $1.49 billion for the payments made pursuant to the Settlement agreement. The IRS has indicated that it intends to disallow this deduction in full. We strongly disagree with the IRS position and, at such time as the IRS finishes its examination of this item, intend to file a protest of this finding with the Office of Appeals of the IRS. The resolution of the IRS's challenge could take several years and the outcome cannot be predicted. Nevertheless, we believe that we have meritorious defenses for the deduction of the payments made pursuant to the Settlement agreement. If the IRS's disallowance of the deduction were sustained, in whole or in part, we would have to remit all or a portion of the refund of taxes previously received and such disallowance could adversely affect the utilization of certain of our tax attributes.

For a description of the Cryovac transaction, asbestos-related claims and the parties involved, see “Cryovac Transaction,” “Discussion of Cryovac Transaction Commitments and Contingencies,” “Fresenius Claims,” “Canadian Claims” and “Additional Matters Related to the Cryovac Transaction” below.

Cryovac Transaction

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

Discussion of Cryovac Transaction Commitments and Contingencies

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

Since the beginning of 2000, we have been served with a number of lawsuits alleging that, as a result of the Cryovac transaction, we were responsible for alleged asbestos liabilities of Grace and its subsidiaries, some of which were also named as co-defendants in some of these actions. Among these lawsuits were several purported class actions and a number of personal injury lawsuits. Some plaintiffs sought damages for personal injury or wrongful death, while others sought medical monitoring, environmental remediation or remedies related to an attic insulation product. Neither the former Sealed Air Corporation nor Cryovac, Inc. ever produced or sold any of the asbestos-containing materials that were the subjects of these cases. While the allegations in these actions directed to us varied, these actions all appeared to allege that the transfer of the Cryovac business as part of the Cryovac transaction was a fraudulent transfer or gave rise to successor liability. In the Joint Proxy Statement furnished to their respective stockholders in connection with the Cryovac transaction, both parties to the transaction stated their belief that none of the transfers contemplated to occur in the Cryovac transaction would be fraudulent transfers and the parties’ belief that the Cryovac transaction complied with other relevant laws. However, if a court applying the relevant legal standards had reached conclusions adverse to us, these determinations could have had a materially adverse effect on our consolidated financial condition and results of operations, and we could have been required to return the property or its value to the transferor or to fund liabilities of Grace or its subsidiaries for the benefit of their creditors, including asbestos claimants. None of these cases reached resolution through judgment, settlement or otherwise. We signed the Settlement agreement, described below, that provided for the resolution of these claims. Moreover, as discussed below, Grace’s Chapter 11 bankruptcy proceeding stayed all of these cases and the orders confirming Grace’s plan of reorganization enjoined parties from prosecuting Grace-related asbestos claims against the Company. We signed the Settlement agreement, described below, that provided for the resolution of these claims.

On April 2, 2001, Grace and a number of its subsidiaries filed petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court in the District of Delaware (the “Bankruptcy Court”). In connection with Grace’s Chapter 11 filing and at Grace’s request, the court issued an order dated May 3, 2001, which was modified on January 22, 2002, under which the court stayed all the filed or pending asbestos actions against us and, upon filing and service on us, all future asbestos actions (collectively, the “Preliminary Injunction”). Pursuant to the Preliminary Injunction, no further proceedings involving us could occur in the actions that were stayed except upon further order of the Bankruptcy Court. Committees appointed to represent asbestos claimants in Grace’s bankruptcy case received the court’s permission to pursue fraudulent transfer and other claims against the Company and its subsidiary Cryovac, Inc., and against Fresenius. This proceeding was brought in the U.S. District Court for the District of Delaware (the “District Court”) (Adv. No. 02-02210). The claims against Fresenius were based upon a 1996 transaction between Fresenius and W. R. Grace & Co. — Conn. Fresenius is not affiliated with us. In June 2002, the court permitted the U.S. government to intervene as a plaintiff in the fraudulent transfer proceeding, so that the U.S. government could pursue allegations that environmental remediation expenses were underestimated or omitted in the solvency analyses of Grace conducted at the time of the Cryovac transaction.

On November 27, 2002, we reached an agreement in principle with the Committees prosecuting the claims against the Company and Cryovac, Inc., to resolve all current and future asbestos-related claims arising from the Cryovac transaction (as memorialized by the parties and approved by the Bankruptcy Court, the “Settlement agreement”). The parties subsequently signed the definitive Settlement agreement as of November 10, 2003 consistent with the terms of the agreement in principle, and the Settlement agreement was approved by order of the Bankruptcy Court dated June 27, 2005. The Settlement agreement called for payment of nine million shares of our common stock and $513 million in cash, plus interest on the cash payment at a 5.5% annual rate starting on December 21, 2002 and ending on the effective date of an appropriate plan of reorganization in the Grace bankruptcy, when we would be required to make the payment. These shares were subject to customary anti-dilution provisions that adjust for the effects of stock splits, stock dividends and other events affecting our common stock, and as a result, the number of shares of our common stock issued under the Settlement agreement increased to eighteen million shares upon the two-for-one stock split in March 2007. The Settlement agreement provided that, upon the effective date of the final plan of reorganization and payment of the shares and cash, all present and future asbestos-related claims against us that arise from alleged asbestos liabilities of Grace and its affiliates (including former affiliates that became our affiliates through the Cryovac transaction) would be channeled to and become the responsibility of one or more trusts established under Section 524(g) of the Bankruptcy Code. The Settlement agreement also provided for resolution of all fraudulent transfer claims against us arising from the Cryovac transaction as well as the Fresenius claims described below. The Settlement agreement provided for releases of all those claims upon payment. Under the Settlement agreement, we cannot seek indemnity from Grace for our payments required by the Settlement agreement. The order approving the Settlement agreement also provided that the Preliminary Injunction stay of proceedings involving us described above continued through the effective date of the final plan of reorganization, after which, upon implementation of the Settlement agreement, we have been released from the Grace asbestos liabilities asserted in those proceedings and their continued prosecution against us are enjoined. As more fully discussed below, the Settlement agreement became effective upon Grace’s emergence from bankruptcy pursuant to the PI Settlement Plan. Following the Effective Date, the Bankruptcy Court issued an order dismissing the proceedings pursuant to which the Preliminary Injunction was issued.

On September 19, 2008, Grace, the Official Committee of Asbestos Personal Injury Claimants, the Asbestos PI Future Claimants’ Representative, and the Official Committee of Equity Security Holders filed, as co-proponents, a plan of reorganization that incorporated a settlement of all present and future asbestos-related personal injury claims against Grace (as filed and amended from time to time, the “PI Settlement Plan”). Amended versions of the PI Settlement Plan and related exhibits and documents were filed with the Bankruptcy Court from time to time. The PI Settlement Plan provides for the establishment of two asbestos trusts under Section 524(g) of the United States Bankruptcy Code to which present and future asbestos-related personal injury and property damage claims are channeled. The PI Settlement Plan also incorporates the Settlement agreement, including our payment of the amounts contemplated by the Settlement agreement. The Bankruptcy Court entered a memorandum opinion overruling certain objections to the PI Settlement Plan on January 31, 2011, and entered orders on January 31, 2011 and February 15, 2011 (collectively with the opinion, the “Bankruptcy Court Confirmation Orders”) confirming the PI Settlement Plan and requesting that the District Court issue and affirm the Bankruptcy Court Confirmation Order, including the injunction under Section 524(g) of the Bankruptcy Code. Various parties appealed or otherwise challenged the Bankruptcy Court Confirmation Orders. On January 30, 2012 and June 11, 2012 , the District Court issued memorandum opinions and orders (collectively with the Bankruptcy Court Confirmation Orders, the “Confirmation Orders”) overruling all objections to the PI Settlement Plan and confirming the PI Settlement Plan in its entirety, including the approval and issuance of the injunctions under Section 524(g) of the Bankruptcy Code and the other injunctions, releases, and indemnifications set forth in the PI Settlement Plan and the Bankruptcy Court Confirmation Order. Five appeals to the Confirmation Orders were filed with the United States Court of Appeals for the Third Circuit (the “Third Circuit Court of Appeals”). The Third Circuit Court of Appeals dismissed or denied the appeals in separate opinions, with the final dismissal occurring on the Effective Date. On January 29, 2014, by agreement of the parties, the Bankruptcy Court dismissed with prejudice the fraudulent transfer action brought against the Company by the Committees appointed to represent asbestos claimants in Grace’s bankruptcy. Also on the Effective Date, the remaining conditions to the effectiveness of the PI Settlement Plan and the Settlement agreement were satisfied or waived by the relevant parties (including the Company), and the PI Settlement Plan implementing the Settlement agreement became effective and Grace emerged from bankruptcy on the Effective Date. In addition, under the PI Settlement Plan, the Confirmation Orders, and the Settlement agreement, Grace is required to indemnify us with respect to asbestos and certain other liabilities. Although we believe the possibility to be remote, if any courts were to refuse to enforce the injunctions or releases contained in the PI Settlement Plan and the Settlement agreement with respect to any claims, and if, in addition, Grace were unwilling or unable to defend and indemnify the Company and its subsidiaries for such claims, then we could be required to pay substantial damages, which could have a material adverse effect on our consolidated financial condition and results of operations

Fresenius Claims

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

Canadian Claims

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

In April 2001, Grace Canada, Inc. had obtained an order of the Superior Court of Justice, Commercial List, Toronto (the “Canadian Court”), recognizing the Chapter 11 actions in the United States of America involving Grace Canada, Inc.’s U.S. parent corporation and other affiliates of Grace Canada, Inc., and enjoining all new actions and staying all current proceedings against Grace Canada, Inc. related to asbestos under the Companies’ Creditors Arrangement Act. That order has been renewed repeatedly. In November 2005, upon motion by Grace Canada, Inc., the Canadian Court ordered an extension of the injunction and stay to actions involving asbestos against the Company and its Canadian affiliate and the Attorney General of Canada, which had the effect of staying all of the Canadian actions referred to above. The parties finalized a global settlement of these Canadian actions (except for claims against the Canadian government). That settlement, which has subsequently been amended (the “Canadian Settlement”), will be entirely funded by Grace. The Canadian Court issued an Order on December 13, 2009 approving the Canadian Settlement. We do not have any positive obligations under the Canadian Settlement, but we are a beneficiary of the release of claims. The release in favor of the Grace parties (including us) became operative upon the effective date of a plan of reorganization in Grace’s United States Chapter 11 bankruptcy proceeding. As filed, the PI Settlement Plan contemplates that the claims released under the Canadian Settlement will be subject to injunctions under Section 524(g) of the Bankruptcy Code. As indicated above, the Bankruptcy Court entered the Bankruptcy Court Confirmation Order on January 31, 2011 and the Clarifying Order on February 15, 2011 and the District Court entered the Original District Court Confirmation Order on January 30, 2012 and the Amended District Court Confirmation Order on June 11, 2012. The Canadian Court issued an Order on April 8, 2011 recognizing and giving full effect to the Bankruptcy Court’s Confirmation Order in all provinces and territories of Canada in accordance with the Bankruptcy Court Confirmation Order’s terms.

As described above, the PI Settlement Plan became effective on February 3, 2014. In accordance with the above-mentioned December 31, 2009 order of the Canadian court, on the Effective Date the actions became permanently stayed until they are amended to remove the Grace parties as named defendants. The above-mentioned actions in the Manitoba Court of Queen’s Bench were dismissed by the Manitoba court as against the Grace parties on February 19, 2014. The remaining actions were either dismissed or discontinued with prejudice by the Canadian courts as against the Grace parties in May and June 2015, but for two actions in the Province of Quebec, for which motions to dismiss are pending. Although we believe the possibility to be remote, if the Canadian courts refuse to enforce the final plan of reorganization in the Canadian courts, and if in addition Grace is unwilling or unable to defend and indemnify the Company and its subsidiaries in these cases, then we could be required to pay substantial damages, which we cannot estimate at this time and which could have a material adverse effect on our consolidated financial condition and results of operations.

Additional Matters Related to the Cryovac Transaction

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

Final determinations and accountings under the Cryovac transaction agreements with respect to matters pertaining to the transaction had not been completed at the time of Grace’s Chapter 11 filing in 2001. We filed claims in the bankruptcy proceeding that reflect the costs and liabilities that we have incurred or may incur and that Grace and its affiliates agreed to retain or that are subject to indemnification by Grace and its affiliates under the Cryovac transaction agreements, other than payments to be made under the Settlement agreement. Grace has alleged that we are responsible for specified amounts under the Cryovac transaction agreements. On February 3, 2014, following Grace’s emergence from bankruptcy, the Company (for itself and its affiliates, collectively, the “Sealed Air Parties”) and Grace (for itself and its affiliates, collectively, the “Grace Parties”) entered into a claims settlement agreement (the “Claims Settlement”) to resolve certain of the parties’ claims against one another arising under the Cryovac transaction agreements (the “Transaction Claims”). Under the Claims Settlement, the Sealed Air Parties released and waived Transaction Claims against the Grace Parties other than asbestos-related claims, Fresenius-related claims, environmental claims, insurance claims, mass tort claims, non-monetary tax sharing agreement claims, certain claims listed in annexes to proofs of claim filed by the Sealed Air Companies in connection with the Grace bankruptcy, claims relating to certain matters described in the PI Settlement Plan, certain executory contract claims relating to certain leased sites or sites that were divided as part of the Cryovac transaction, and certain indemnification claims. Under the Claims Settlement, the Grace Parties released and waived Transaction Claims against the Sealed Air Companies other than non-monetary tax sharing agreement claims, certain executory contract claims relating to certain leased sites or sites that were divided as part of the Cryovac transaction, and certain indemnification claims. The Claims Settlement also provides that the Sealed Air Parties and the Grace Parties will share equally all fees and expenses relating to certain litigation brought by former Cryovac employees. Except to the extent that a claim is specifically referenced, the Claims Settlement does not supersede or affect the obligations of the parties under the PI Settlement Plan or our Settlement agreement.

Environmental Matters

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

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

Guarantees and Indemnification Obligations

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

—

product warranties with respect to certain products sold to customers in the ordinary course of business. These warranties typically provide that products will conform to specifications. 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 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 plus interest. 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 the Ministry is seeking repayment from our Italian subsidiary given our capacity as purchaser of the two companies. Our Italian subsidiary submitted a total denial of liability in regard to this matter on June 30, 2010. A hearing on the merits was held on July 3, 2014 and in mid-September; our subsidiary was advised that the demand for repayment of €10 million was upheld. Accordingly, we recorded a current liability and corresponding charge of $14 million related to this matter in 2014. The liability ($11 million equivalent at December 31, 2015 with accrued interest) is included in other current liabilities in the Consolidated Balance Sheet and the charge is included in selling, general and administrative expenses in the Consolidated Statements of Operations. The charge is treated as a special item and included in Corporate in the “Other” category for segment reporting purposes. In mid-December, 2014 we learned our application to suspend enforcement of the judgment pending appeal had been declined. A final hearing on the merits is expected to be heard in two to three years.

Other Principal Contractual Obligations

At December 31, 2015, we had other principal contractual obligations, which included agreements to purchase an estimated amount of goods, including raw materials, or services in the normal course of business, aggregating to approximately $416 million. The estimated future cash outlays are as follows:

Year	Amount (in millions)
2016	$	223.1
2017		95.4
2018		60.3
2019		25.6
2020		10.7
Thereafter		1.0
Total	$	416.1

Leases

We are obligated under the terms of various leases covering primarily warehouse and office facilities and production equipment, as well as smaller manufacturing sites that we occupy. We account for the majority of our leases as operating leases, which may include purchase or renewal options. At December 31, 2015, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:

Year	Amount (in millions)
2016	$	50.4
2017		34.8
2018		22.0
2019		14.3
2020		7.7
Thereafter		11.3
Total	$	140.5

Net rental expense was $62 million in 2015, $71 million in 2014 and $79 million in 2013.

Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Stockholders' Equity

Note 18 Stockholders’ Equity

Repurchase of Common Stock

On July 9, 2015, our Board of Directors authorized a repurchase program of up to $1.5 billion of the Company’s common stock, reflecting its commitment to return value to shareholders. The repurchase program has no expiration date and replaced the previously authorized program, which was terminated. See Part II, Item 2, “Unregistered Sales of Equity Securities and Use of Proceeds” for further information. This program replaced our prior share repurchase program, approved by our Board of Directors in August 2007, authorizing us to repurchase in the aggregate up to 20 million shares of our outstanding common stock.

In March 2015, the Company entered into an accelerated share repurchase agreement (the “March ASR”) with a third-party financial institution to repurchase $25 million of the Company’s common stock. Upon completion of the transaction, the Company received a total of 546,574 shares with an average price of $45.74 per share. These repurchases were made under the August 2007 share repurchase program approved by our Board of Directors referenced above.

Additionally, on August 5, 2015, the Company entered into an accelerated share repurchase agreement (the “August ASR”) with a third-party financial institution to repurchase up to $300 million of the Company’s common stock. Upon completion of the transaction in September 2015, the Company received a total of 5,771,603 shares with an average price of $51.76 per share for a total cost of $299 million. These repurchases were made under the July 2015 share repurchase program approved by our Board of Directors referenced above.

Also during 2015, we repurchased 9,804,934 shares for approximately $478 million. These repurchases were made under privately negotiated or open market transactions in accordance with Rule 10b5-1 of the Securities Act of 1933, as amended, and pursuant to the share repurchase program previously approved by our Board of Directors.

Total shares repurchased by the Company in 2015 under the programs described above were approximately 16.1 million shares for approximately $802 million.

Dividends

The following table shows our total cash dividends paid in the three years ended December 31:

			Total Cash Dividends
(In millions, except per share amounts)	Total Cash Dividends Paid		Paid Per Common Share
2013	$	102.0	$	0.52
2014		110.9		0.52
2015		106.8		0.52
Total	$	319.7

On February 17, 2016, our Board of Directors declared a quarterly cash dividend of $0.13 per common share payable on March 18, 2016 to stockholders of record at the close of business on March 4, 2016. The estimated amount of this dividend payment is $25 million based on 196 million shares of our common stock issued and outstanding as of January 31, 2016.

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

Common Stock

The following is a summary of changes during the three years ended December 31, 2015 in shares of our common stock and common stock in treasury:

	2015			2014			2013
Changes in common stock:
Number of shares, beginning of year		224,683,653			205,707,580			204,660,621
Shares issued for Grace Settlement		—			18,000,000			—
Restricted stock shares issued for new awards under the Omnibus Incentive Plan and 2005 Contingent Stock Plan		419,844			572,089			398,230
Restricted stock shares, forfeited		(185,056	)		—			—
Shares issued for vested restricted stock units		172,071			136,197			98,550
Shares issued for 2012 Three-Year PSU Awards		442,985			—			—
Shares issued for 2011 Three-Year PSU Awards		—			145,597			—
Shares issued for 2010 Three-year PSU Awards		—			—			472,865
Shares issued for SLO awards		71,893			101,062			51,321
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors		20,246			21,128			25,993
Number of shares issued, end of year		225,625,636			224,683,653			205,707,580
Changes in common stock in treasury:
Number of shares held, beginning of year		14,151,759			9,508,908			10,102,952
Repurchase of common stock		16,123,111			5,427,432			—
Profit sharing contribution paid in stock		(787,463	)		(965,238	)		(857,754	)
Restricted stock share forfeitures transferred to Omnibus Incentive Plan Reserve		(75,638	)		—			—
Restricted stock shares, forfeited		—			106,220			40,100
Shares withheld for taxes		200,568			74,437			223,610
Number of shares held, end of year		29,612,337			14,151,759			9,508,908
Number of common stock outstanding, end of year		196,013,299			210,531,894			196,198,672

Share-Based Compensation

In 2014, the Board of Directors adopted, and its stockholders approved, the 2014 Omnibus Incentive Plan (“Omnibus Incentive Plan”). Under the Omnibus Incentive Plan, the maximum number of shares of Common Stock authorized was 4,250,000, plus total shares available to be issued as of May 22, 2014 under the 2002 Directors Stock Plan and the 2005 Contingent Stock Plan (collectively, the “Predecessor Plans”). The Omnibus Incentive Plan replaced the Predecessor Plans and no further awards were granted under the Predecessor Plans. The Omnibus Incentive Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock, performance share units known as PSU awards, other stock awards and cash awards to officers, non-employee directors, key employees, consultants and advisors.

Prior to the Omnibus Incentive Plan, the 2005 Contingent Stock Plan represented our sole long-term equity compensation program for officers and employees. The 2005 Contingent Stock Plan provided for awards of equity-based compensation, including restricted stock, restricted stock units, PSU awards and cash awards measured by share price, to our executive officers and other key employees, as well as U.S.-based key consultants. Prior to the Omnibus Incentive Plan, the 2002 Directors Stock Plan provided for annual grants of shares to non-employee directors, and interim grants of shares to eligible directors elected at times other than at an annual meeting, as all or part of the annual or interim retainer fees for non-employee directors. During 2002, we adopted a plan that permitted non-employee directors to elect to defer all or part of their annual retainer until the non-employee director retires from the Board of Directors. The non-employee director could elect to defer the portion of the annual retainer payable in shares of stock, as well as the portion, if any, payable in cash. Cash dividends on deferred shares are reinvested into additional deferred units in each non-employee director’s account.

A summary of the changes in common shares available for awards under the Omnibus Incentive Plan and Predecessor Plans follows:

	2015			2014			2013
Number of shares available, beginning of year		8,775,994			5,676,699			6,588,352
Newly registered shares under Omnibus Incentive Plan		—			4,250,000			—
Restricted stock shares issued for new awards under the Omnibus Incentive Plan and 2005 Contingent Stock Plan		(419,844	)		(572,089	)		(398,230	)
Restricted stock shares forfeited		185,056			106,220			40,100
Restricted stock units awarded		(300,085	)		(431,987	)		(187,595	)
Restricted stock units forfeited		38,100			9,800			3,500
Shares issued for 2012 Three-year PSU Awards		(442,985	)		—			—
Shares issued for 2011 Three-year PSU Awards		—			(145,597	)		—
Shares issued for 2010 Three-year PSU Awards		—			—			(472,865	)
Restricted stock shares issued for SLO awards		—			(96,773	)		(21,505	)
Restricted stock units awarded for SLO awards		(134,078	)		(48,528	)		(51,033	)
SLO units forfeited		13,752			—			—
Director shares granted and issued		(20,246	)		(21,128	)		(25,993	)
Director units granted and deferred		(925	)		(20,444	)		(21,642	)
Shares withheld for taxes⁽¹⁾		—			69,821			223,610
Number of shares available, end of year ⁽²⁾		7,694,739			8,775,994			5,676,699

⁽¹⁾	The Omnibus Incentive Plan and 2005 Contingent Stock Plan permit “minimum” withholding of taxes and other charges that may be required by law to be paid attributable to awards by withholding a portion of the shares attributable to such awards.

⁽²⁾	The above table excludes approximately 4.1 million of contingently issuable shares under the PSU awards and SLO awards, which represents the maximum number of shares that could be issued under those plans as of December 31, 2015.

We record share-based incentive compensation expense in selling, general and administrative expenses and cost of sales on our Consolidated Statements of Operations for both equity-classified awards and liability-classified awards. We record corresponding credit to additional paid-in capital within stockholders’ equity for equity-classified awards, and to either current or non-current liability for liability-classified awards based on the fair value of the share-based incentive compensation awards at the date of grant. Total expense for the liability-classified awards continues to be remeasured to fair value at the end of each reporting period. We recognize an expense or credit reflecting the straight-line recognition, net of estimated forfeitures, of the expected cost of the program. The number of PSUs earned may equal, exceed or be less than the targeted number of shares depending on whether the performance criteria are met, surpassed or not met.

The following table summarizes the Company’s pre-tax share-based incentive compensation expense and related income tax benefit for the years ended December 31, 2015, 2014 and 2013 related to the Company’s PSU awards, SLO awards and restricted stock awards.

(in millions)	2015		2014		2013
2015 Three-year PSU Awards	$	4.7	$	—	$	—
2014 Special PSU Awards		15.7		11.8		—
2014 Three-year PSU Awards		7.0		6.8		—
2013 Three-year PSU Awards		4.7		8.2		4.4
2012 Three-year PSU Awards		—		1.8		2.4
2011 Three-year PSU Awards		—		—		(1.2	)
2010 Three-year PSU Awards		—		—		0.1
2013 WVH Incentive Compensation⁽¹⁾		—		1.3		2.5
2012 President & COO Four-year Incentive Compensation⁽²⁾		0.3		0.4		0.6
SLO awards		3.7		4.6		2.8
Other long-term share-based incentive compensation programs⁽³⁾		25.1		19.2		12.5
Total share-based incentive compensation expense⁽⁴⁾	$	61.2	$	54.1	$	24.1
Associated tax benefits recognized	$	18.6	$	15.7	$	7.8

⁽¹⁾

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

⁽²⁾	The amount includes only the two initial equity awards. See below for further detail.

⁽³⁾	The amount includes the expenses associated with the restricted stock awards consisting of restricted stock shares, restricted stock units and cash-settled restricted stock unit awards.

⁽⁴⁾	The amounts do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock as these contributions are not considered share-based incentive compensation.

Restricted Stock, Restricted Stock Units and Cash-Settled Restricted Stock Unit Awards

Restricted stock, restricted stock unit and cash-settled restricted stock unit awards (cash payment in an amount equal to the value of the shares on the vesting date) provide for a vesting period. Awards vest earlier in the event of the participant’s death or disability. If a participant terminates employment prior to vesting, then the award of restricted stock, restricted stock units or cash-settled restricted stock unit awards is forfeited, except for certain circumstances following a change in control. The Compensation Committee may waive the forfeiture of all or a portion of an award. During the vesting period, holders of unvested shares of restricted stock (but not holders of unvested shares of restricted stock units or cash-settled restricted stock unit awards) are entitled to receive dividends on the same basis as dividends are paid to other stockholders and are entitled to vote the unvested shares.

The following table summarizes activity for unvested restricted stock and restricted stock unit for 2015:

	Restricted stock shares							Restricted stock unit
	Shares			Weighted-Average per Share Fair Value on Grant Date		Aggregate Intrinsic Value (in millions)		Shares			Weighted-Average per Share Fair Value on Grant Date		Aggregate Intrinsic Value (in millions)
Non-vested at December 31, 2014		1,561,969		$	25.09				791,335		$	27.66
Granted		419,844		$	45.35				301,285		$	45.18
Vested		(593,970	)	$	17.21	$	28.8		(172,071	)	$	17.62	$	8.5
Forfeited or expired		(118,068	)	$	29.57				(38,100	)	$	20.16
Non-vested at December 31, 2015		1,269,775		$	35.09				882,449		$	35.93

A summary of the Company’s fair values of its vested restricted stock shares and restricted stock units are shown in the following table:

(In millions)	2015		2014		2013
Fair value of restricted stock shares vested	$	10.2	$	7.6	$	7.4
Fair value of restricted stock units vested	$	3.0	$	3.2	$	2.1

A summary of the Company’s unrecognized compensation cost and weighted average periods over which the compensation cost is expected to be recognized for its non-vested restricted stock shares and restricted stock units are shown in the following table:

(In millions)

Unrecognized Compensation Costs

Weighted Average

to be recognized

(in years)

Restricted Stock shares

20.7

1.4

Restricted Stock units

14.1

1.4

The non-vested cash awards excluded from table above had $4 million unrecognized compensation costs and weighted-average remaining contractual life of approximately 1.4 years. Current liability recognized for these cash awards was $5 million and majority is included in other non-current liabilities on our Consolidated Balance Sheet.

PSU Awards

Three-year PSU awards for 2013, 2014 and 2015(Exclude the 2014 Special PSU Award)

During the first 90 days of each year, the O&C Committee of our Board of Directors approves PSU awards for our executive officers and other selected key executives, which include for each officer or executive a target number of shares of common stock and performance goals and measures that will determine the percentage of the target award that is earned following the end of the three-year performance period. Following the end of the performance period, in addition to shares, participants will also receive a cash payment in the amount of the dividends (without interest) that would have been paid during the performance period on the number of shares that they have earned. Each PSU is subject to forfeiture if the recipient terminates employment with the Company prior to the end of the three-year award performance period for any reason other than death, disability or retirement. In the event of death, disability or retirement, a participant will receive a prorated payment based on such participant’s number of full months of service during the award performance period, further adjusted based on the achievement of the performance goals during the award performance period. All of these PSUs are classified as equity in the Consolidated Balance Sheet.

The Compensation Committee established principal performance goals, which are (i) total shareholder return for three-year performance period weighted at 35%, and (ii) third year consolidated Adjusted EBITDA margin weighted at 65%. The total number of shares to be issued for these awards can range from zero to 200% of the target number of shares.

PSUs – Adjusted EBITDA.

The PSUs granted based on Adjusted EBITDA are contingently awarded and will be payable in shares of the Company’s common stock based on the Company’s Adjusted EBITDA over a three-year award performance period compared to a target set at the time of the grant by the Compensation Committee. The fair value of the PSUs based on Adjusted EBITDA is based on grant date fair value which is equivalent to the closing price of one share of the Company’s common stock on the date of grant. The number of PSUs based on Adjusted EBITDA varies based on the probable outcome of the performance condition. The Company reassesses at each reporting date whether achievement of the performance condition is probable and accrues compensation expense if and when achievement of the performance condition is probable.

The number of PSUs granted based on Adjusted EBITDA and the grant date fair value are shown in the following table:

2015

2014

2013

Number of units granted

158,964

239,851

451,264

Weighted average fair value on grant

date

46.05

32.72

20.23

PSUs – Total Shareholder Return.

The PSUs granted based on total shareholder return are contingently awarded and will be payable in shares of the Company’s common stock subject to the condition that the number of PSUs, if any, earned by the employees upon the expiration of a three-year award performance period is dependent on the Company’s total shareholder return ranking relative to a peer group of companies. The fair value of the PSUs based on total shareholder return was estimated on the grant date using a Monte Carlo Simulation model that incorporates predictive modeling techniques using Geometric Brownian Motion and Crystal Ball’s random number generation. Other assumptions include the expected volatility of all companies included in the total shareholder return, the historical share price returns analysis of all companies included in the total shareholder return and assumes dividends are reinvested. The expected volatility was based on the historical volatility for a period of time that approximates the duration between the valuation date and the end of the performance period. The risk-free interest rate is based on the Zero-Coupon Treasury STRIP yield curve matching the term from the valuation date to the end of the performance period. Compensation expense for the PSUs based on total shareholder return (which is considered a market condition) is a fixed amount determined at the grant date fair value and is recognized 100% over the three-year award performance period regardless of whether PSUs are awarded at the end of the award performance period.

The number of PSUs granted based on total shareholder return and the assumptions used to calculate the grant date fair value of the PSUs based on total shareholder return are shown in the following table:

	2015			2014			2013
Number of units granted		65,796			129,150			242,988
Weighted average fair value on grant date	$	59.91		$	43.13		$	28.64
Expected price volatility⁽¹⁾		29.90	%		32.90	%		31.40	%
Risk-free interest rate⁽¹⁾		1.05	%		0.63	%		0.42	%

⁽¹⁾	Expected price volatility and risk-free interest rate for shares granted separately to William V. Hickey and Jerome A. Peribere were 31.5% and 0.36%, respectively.

The following table includes additional information related to estimated earned payout based on the probable outcome of the performance condition and market condition as of December 31, 2015:

	Estimated Payout %
	Adjusted EBITDA			TSR			Combined
2015 Three-year PSU Awards		100	%		100	%		100	%
2014 Three-year PSU Awards		200	%		200	%		200	%
2013 Three-year PSU Awards		200	%		200	%		200	%

The following table summarizes activity for outstanding PSUs awards for 2015:

	Shares			Aggregate Intrinsic Value (in millions) ⁽²⁾
Outstanding at December 31, 2014		1,346,375
Granted(1)		224,760
Converted		(432,574	)	$	19.6
Forfeited or expired		(57,116	)
Outstanding at December 31, 2015		1,081,445
Fully vested at December 31, 2015		531,440		$	47.4

⁽¹⁾	This represents the target number of performance units granted. Actual number of PSUs earned, if any, is dependent upon performance and may range from 0% to 200% percent of the target.

⁽²⁾	These amounts represent actual number of PSUs earned and vested at December 31, 2014 which were issued in February 2015.

The following table summarizes activity for non-vested PSUs awards for 2015:

	Shares			Weighted-Average per Share Fair Value on Grant Date
Non-vested at December 31, 2014		913,801		$	28.38
Granted		224,760		$	50.11
Vested		(531,440	)	$	24.32
Forfeited or expired		(57,116	)	$	25.55
Non-vested at December 31, 2015		550,005		$	41.99

A summary of the Company’s fair value for its vested three-year PSU awards is shown in the following table:

(In millions)

2015

2014

2013

Fair value of three-year PSU awards

vested

20.1

5.9

3.5

A summary of the Company’s unrecognized compensation cost for three-year PSU awards at the current estimated earned payout based on the probable outcome of the performance condition and weighted average periods over which the compensation cost is expected to be recognized as shown in the following table:

(In millions)

Unrecognized

Compensation Costs

Weighted Average

to be recognized

(in years)

2015 Three-year PSU Awards

6.5

2.0

2014 Three-year PSU Awards

4.9

1.0

2014 Special PSU Award

During March 2014, the Compensation Committee approved a special PSU award to the named executive officers and a broader group of other employees. The special PSU awards are earned principally based on achievement of specified levels of free cash flow, 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 adjusted earnings per share for 2016, in order to balance the free cash flow goal with an appropriate focus on generating earnings. To further balance the incentives, the award earned based on free cash flow performance will be reduced by 25% if our relative TSR for the performance period is below the 50th percentile of an approved peer group of companies. Any PSUs earned will be paid out in equal installments over two years, in early 2017 and, subject to an additional 2017 performance requirement, in early 2018.

This award includes both equity-classified awards which do not get remeasured and liability-classified awards which get remeasured each reporting period. For equity-classified awards, 641,480 PSUs were granted based on performance conditions and the weighted average grant date fair value was $32.10. 213,827 of PSUs were granted based on TSR and the weighted average grant date fair value was $13.73. The expected price volatility and risk-free interest rate were 32.90% and 0.68%, respectively. At December 31, 2015, 776,047 PSUs remain unvested. We record expense associated with the liability-classified awards in selling, general and administrative expenses. The liability recognized for liability-classified awards was $5 million and was included in other non-current liabilities on our Consolidated Balance Sheet.

The unrecognized compensation expense for equity-classified awards and liability-classified awards combined was $18 million and weighted-average remaining contractual life of approximately 2.0 year.

2012 President and Chief Operating Officer (COO) Four-year Incentive Compensation

On September 1, 2012, Jerome A. Peribere started with the Company as President and Chief Operating Officer. Under the terms of his agreement, he was granted equity awards which included the following: (i) initial equity awards under the Company’s 2005 Contingent Stock Plan, which included two awards of performance share units under which he could earn up to 350,000 shares of common stock based on the Company’s performance, (ii) restricted stock under the Company’s 2005 Contingent Stock Plan of which 50,000 shares were issued on his start date and 25,000 shares to be issued on the first anniversary of his start date and (iii) an award under the Company’s 2012 Three-year PSU Award with a target award of 140,155 units. The awards are described in further detail in Mr. Peribere’s employment agreement filed with the SEC as an exhibit with the Company’s Current Report on Form 8-K dated August 27, 2012.

For the 2012 PSU award (excluding the portion of the PSU awards related to the TSR goal) that is discussed above, the estimated amount of share-based incentive compensation expense fluctuated based on the expected level of achievement of the respective goals and measures considered probable in each quarter, which impacts the number of shares that could be issued.

Since the TSR metric is considered a market condition, the portion of the compensation expense related to the TSR metric included in the various awards above was or will be recognized regardless of whether the market condition is satisfied provided that the requisite service has been provided.

Stock Leverage Opportunity Awards

Before the start of each performance year, each of our executive officers and other selected key executives is eligible to elect to receive all or a portion of his or her annual cash bonus for that year, in increments of 25% of the annual bonus, as an award of restricted stock or restricted stock units under the Omnibus Incentive Plan in lieu of cash. The portion provided as an equity award may be given a premium to be determined by the Compensation Committee each year and will be rounded up to the nearest whole share. The stock price used in the calculation of the number of shares will be the closing sale price of our common stock on the New York Stock Exchange on the first trading day of the performance year. The award will be granted following the end of the performance year and after determination by the Compensation Committee of the amount of the annual bonus award for each executive officer and other selected key executive who has elected to take all or a portion of his or her annual bonus as an equity award, but no later than the March 15 following the end of the performance year.

The equity award will be made in the form of an award of restricted stock units that will vest on the second anniversary of the grant date or earlier in the event of death, disability or retirement from employment with us, and the shares subject to the award will not be transferable by the recipient until the later of vesting or the second anniversary of the grant date. Termination treatment for the 2014 SLO awards and later years has been changed from past grant practices. For the “principal portion” of the award that would have otherwise been paid in cash, the award vests upon any termination of employment, other than for cause. For the “premium portion” of the award equal to the additional 25%, the award vests only in case of death, disability or retirement from the Company. Retirement for the purpose of SLO awards and the PSU awards described below means termination of employment after five or more years of employment and with years of employment plus age equal to 70 or more, except termination for cause. Except as described above, if the recipient ceases to be employed by the Company prior to vesting, then the award is forfeited, except for certain circumstances following a change in control. SLO awards in the form of restricted stock units have no voting rights until shares are issued to them but do receive a cash payment in the amount of the dividends (without interest) on the shares they have earned at about the same time that shares are issued to them following the period of restriction. As of December 31, 2015, the amount of dividends earned on SLO awards was immaterial.

The 2015 SLO awards comprise an aggregate of 78,243 restricted stock units as of December 31, 2015. We record compensation expense for these awards in selling, general and administrative expenses on the Consolidated Statements of Operations with a corresponding credit to additional paid-in capital within stockholders’ equity, based on the fair value of the awards at the end of each reporting period, which reflects the effects of stock price changes. For the years ended December 31, 2015, 2014 and 2013, compensation expense related to the SLO awards was recognized based on the extent to which the performance goals and measures for our 2015, 2014 and 2013 annual cash bonuses were considered probable of achievement at each respective year end. The expense is recognized over a fifteen month period on a straight-line basis, which will be no later than March 15, 2016, 2015 and 2014.

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. Since these SARs are settled in cash, the amount of the related future expense will fluctuate based on the 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 Option Pricing Model for any SARs that are not exercised until their respective expiration dates, the last of which is currently in February 2020.

We recognized SARs expense of $4 million, $8 million and $38 million in 2015, 2014, and 2013 respectively. Cash payments due to the exercise of these SARs were $21 million, $21 million and $46 million in 2015, 2014, and 2013 respectively. As of December 31, 2015, all of the outstanding SARs were fully vested. The remaining liability for these SARs was $4 million and is included in other current liabilities on our Consolidated Balance Sheet.

Other Common Stock Issuances

We have historically issued shares of our common stock under our 2005 Contingent Stock Plan to selected U.S.-based consultants as compensation under consulting agreements primarily for research and development projects. We record the cost associated with these issuances on a straight-line basis based on each of the issuances’ vesting schedule. Current liability and unrecognized deferred compensation expense for these awards are not material as of December 31, 2015.

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.

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-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Note 19 Accumulated Other Comprehensive Income (Loss)

The following table provides details of comprehensive income (loss):

(In millions)	Unrecognized Pension Items			Cumulative Translation Adjustment			Unrecognized Gains (Losses) on Derivative Instruments for net investment hedge		Unrecognized Gains (Losses) on Derivative Instruments for cash flow hedge			Accumulated Other Comprehensive Income (Loss), Net of Taxes
Balance at December 31, 2013 ⁽¹⁾	$	(143.3	)	$	(137.7	)	$	—	$	3.6		$	(277.4	)
Other comprehensive income (loss) before reclassifications		(115.5	)		(232.2	)		—		12.9			(334.8	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		8.7			—			—		(10.3	)		(1.6	)
Net current period other comprehensive income (loss)		(106.8	)		(232.2	)		—		2.6			(336.4	)
Balance at December 31, 2014⁽¹⁾⁽²⁾		(250.1	)		(369.9	)		—		6.2			(613.8	)
Other comprehensive income (loss) before reclassifications		(22.8	)		(194.1	)		1.7		33.2			(182.0	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		6.9			—			—		(31.1	)		(24.2	)
Net current period other comprehensive income (loss)		(15.9	)		(194.1	)		1.7		2.1			(206.2	)
Balance at December 31, 2015⁽¹⁾⁽²⁾	$	(266.0	)	$	(564.0	)	$	1.7	$	8.3		$	(820.0	)

⁽¹⁾

For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified within Accumulated Other Comprehensive Loss (“AOCI”) on the Consolidated Balance Sheet. Refer Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.

⁽²⁾	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $31.1 million as of December 31, 2015 and $58.9 million as of December 31, 2014.

The following table provides detail of amounts reclassified from accumulated other comprehensive income:

(In millions)	2015 (a)			2014 (a)			2013			Location of Amount Reclassified from AOCI
Defined benefit pension plans and other post- employment benefits:
Prior service costs	$	0.7		$	0.5		$	0.3		(b)
Actuarial losses		(11.1	)		(10.0	)		(10.4	)	(b)
Settlement/curtailment gain/(loss)		1.2			(2.1	)		—		(b)
Total pre-tax amount		(9.2	)		(11.6	)		(10.1	)
Tax (expense) benefit		2.3			2.9			3.4
Net of tax		(6.9	)		(8.7	)		(6.7	)
Net gains (losses) on cash flow hedging derivatives:
Foreign currency forward contracts		9.6			1.9			2.7		(c) Other income, net
Interest rate and currency swaps		36.9			13.5			—		(c) Various
Treasury locks		0.1			0.1			0.1		(c) Interest expense
Total pre-tax amount		46.6			15.5			2.8
Tax (expense) benefit		(15.5	)		(5.2	)		(0.7	)
Net of tax		31.1			10.3			2.1
Total reclassifications for the period	$	24.2		$	1.6		$	(4.6	)

^(a)	Amounts in parenthesis indicate debits to earnings (loss).

^(b)

These accumulated other comprehensive components are included in the computation of net periodic benefit costs. See Notes 14, “Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans” and Note 15, “Other Post-Employment Benefits and Other Employee Benefit Plans” for additional details.

^(c)	These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 12, “Derivatives and Hedging Activities” for additional details.

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Other Income And Expenses [Abstract]

Other Income (Expense), net

12 Months Ended

Dec. 31, 2015

Other Income (Expense), net

Note 20 Other Income (Expense), net

The following table provides details of other income (expense), net:

	Year Ended December 31,
(In millions)	2015			2014			2013
Interest and dividend income	$	13.5		$	15.5		$	11.0
Net foreign exchange transaction gains (losses)		5.3			(7.8	)		(10.5	)
Bank fee expense		(5.8	)		(5.0	)		(6.8	)
Net gain on disposals of property and equipment and other		3.3			—			—
Other, net		3.6			6.1			(5.6	)
Other income (expense), net	$	19.9		$	8.8		$	(11.9	)

Sale of Equity Investment

In 2015, we sold our joint venture that supported our Food Care segment in Turkey. We recognized earnings before income tax provision of $9 million in 2015 related to this transaction.

Impairment of Equity Method Investments

We recognized an impairment of $6 million and $2 million in 2014 and 2013, respectively, in connection with certain equity method investments. These investments were not material to our consolidated financial position or results of operations.

Net Earnings per Common Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Net Earnings per Common Share

Note 21 Net Earnings per Common Share

The following table sets forth the calculation of basic and diluted net earnings (loss) per common share under the two-class method for the three years ended December 31, 2015 in millions, except per share data:

	Year Ended December 31,
(In millions, except per share amounts)	2015			2014			2013
Basic Net Earnings Per Common Share:

Numerator
Net earnings available to common stockholders	$	335.4		$	258.1		$	125.8
Distributed and allocated undistributed net earnings to non- vested restricted stockholders		(2.2	)		(1.6	)		(0.7	)
Distributed and allocated undistributed net earnings to common stockholders		333.2			256.5			125.1
Distributed net earnings - dividends paid to common stockholders		(106.2	)		(110.1	)		(101.3	)
Allocation of undistributed net earnings to common stockholders	$	227.0		$	146.4		$	23.8
Denominator
Weighted average number of common shares outstanding - basic		203.9			210.0			194.6
Basic net earnings per common share:
Distributed net earnings to common stockholders	$	0.52		$	0.52		$	0.52
Allocated undistributed net earnings to common stockholders		1.11			0.70			0.13
Basic net earnings per common share:	$	1.63		$	1.22		$	0.65
Diluted Net Earnings Per Common Share:
Numerator
Distributed and allocated undistributed net earnings to common stockholders	$	333.2		$	256.5		$	125.1
Add: Allocated undistributed net earnings to unvested restricted stockholders		1.6			1.0			0.2
Less: Undistributed net earnings reallocated to non- vested restricted stockholders		(1.6	)		(0.9	)		(0.1	)
Net earnings available to common stockholders - diluted	$	333.2		$	256.6		$	125.2
Denominator
Weighted average number of common shares outstanding - basic		203.9			210.0			194.6
Effect of assumed issuance of Settlement agreement shares (1)		—			1.6			18.0
Effect of contingently issuable shares (1)		1.3			0.9			0.7
Effect of unvested restricted stock units (1)		0.7			0.8			0.6
Weighted average number of common shares outstanding - diluted under two-class		205.9			213.3			213.9
Effect of unvested restricted stock - participating security (1)		0.8			0.6			0.3
Weighted average number of common shares outstanding - diluted under treasury stock		206.7			213.9			214.2
Diluted net earnings per common share	$	1.62		$	1.20		$	0.58

(1)

Provides for the following items if their inclusion is dilutive: (i) the effect of the issuance of 18 million shares of common stock reserved for the Settlement agreement as defined and (ii) the effect of non-vested restricted stock, restricted stock units and contingently issuable shares using the treasury stock method.

PSU Awards

We included contingently issuable shares using the treasury stock method for our PSU awards in the diluted weighted average number of common shares outstanding based on the number of contingently issuable shares that would be issued assuming the end of our reporting period was the end of the relevant PSU award contingency period. The calculation of diluted weighted average shares outstanding includes approximately 1 million shares related to PSUs in the years 2015, 2014 and 2013.

Stock Leverage Opportunity Awards (“SLO”)

The shares or units associated with the 2015 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 year ended December 31, 2015. 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 2016. 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 2015, 2014 and 2013 were nominal.

Summarized Quarterly Financial Information (Unaudited, in millions, except per share data)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Financial Information (Unaudited, in millions, except per share data)

Note 22 Summarized Quarterly Financial Information (Unaudited, in millions, except per share data)

	2015
	First		Second		Third		Fourth
(In millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter⁽¹⁾
Net sales	$	1,746.4	$	1,785.0	$	1,746.2	$	1,753.9
Gross profit		649.6		663.8		636.6		636.6
Net earnings available to common stockholders		97.2		28.1		86.6		123.5
Net earnings per common share - basic⁽²⁾	$	0.46	$	0.13	$	0.43	$	0.63
Net earnings per common share - diluted⁽²⁾	$	0.46	$	0.13	$	0.42	$	0.62

	2014
	First		Second		Third		Fourth
(In millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter
Net sales	$	1,827.7	$	1,973.6	$	1,975.5	$	1,973.7
Gross profit		639.6		679.6		696.1		672.3
Net earnings available to common stockholders		70.9		60.1		60.8		66.3
Net earnings per common share - basic	$	0.34	$	0.28	$	0.29	$	0.31
Net earnings per common share - diluted	$	0.33	$	0.28	$	0.28	$	0.31

⁽¹⁾	During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.

⁽²⁾	The sum of the quarterly per share amounts may not agree to the respective annual amounts due to rounding.

Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2015

Valuation And Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts and Reserves

SEALED AIR CORPORATION AND SUBSIDIARIES

SCHEDULE II

Valuation and Qualifying Accounts and Reserves

Years Ended December 31, 2015, 2014 and 2013

	Balance		Charged							Foreign
	at		to							Currency
	Beginning		Costs and							Translation				Balance at
Description	of Year		Expenses			Deductions				and Other				End of Year
(in millions)
Year ended December 31, 2015:
Allowance for doubtful accounts	$	28.8	$	3.8		$	(4.2	)	(1)	$	(3.5	)		$	24.9
Inventory obsolescence reserve	$	29.0	$	(0.2	)	$	(4.5	)	(2)	$	(2.4	)		$	21.9
Valuation allowance on deferred tax assets	$	227.8	$	(58.2	)	$	—			$	87.8		(3)	$	257.4
Year ended December 31, 2014:
Allowance for doubtful accounts	$	31.4	$	8.0		$	(7.2	)	(1)	$	(3.4	)		$	28.8
Inventory obsolescence reserve	$	24.6	$	9.2		$	(1.6	)	(2)	$	(3.2	)		$	29.0
Valuation allowance on deferred tax assets	$	240.0	$	—		$	(13.2	)		$	1.0			$	227.8
Year ended December 31, 2013:
Allowance for doubtful accounts	$	25.6	$	11.6		$	(5.4	)	(1)	$	(0.4	)		$	31.4
Inventory obsolescence reserve	$	27.5	$	(0.3	)	$	(1.5	)	(2)	$	(1.1	)		$	24.6
Valuation allowance on deferred tax assets	$	199.9	$	40.3		$	—			$	(0.2	)		$	240.0

⁽¹⁾	Primarily accounts receivable balances written off, net of recoveries.

⁽²⁾	Primarily items removed from inventory.

⁽³⁾	Includes an in-country foreign impairment not recorded for U.S. GAAP.

Summary of Significant Accounting Policies and Recently Issued Accounting Standards (Policies)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Basis of Presentation

Reclassifications and Revisions

Use of Estimates

Financial Instruments

See Note 12, “Derivatives and Hedging Activities,” for further details.

Fair Value Measurements of Financial Instruments

—

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

—

Foreign Currency Translation and Impact of Inflation and Currency Fluctuation

Foreign Currency Translation

Impact of Inflation and Currency Fluctuation

Venezuela

—

CENCOEX at the official rate of 6.3;

—

CENCOEX at the latest published SICAD auction rate;

—

SICAD 1 auction process at the awarded exchange rate; and

—

SICAD 2 at the negotiated exchange rate.

Therefore, there are now three legal mechanisms at this time to exchange bolivars for US dollars:

—

CENCOEX at the official rate of 6.3;

—

SICAD auction process at the awarded exchange rate (opening rate at 12 and at December 31, 2015 it was 13.5); and

—

SIMADI at the negotiated rate (rate of 198.6986 at December 31, 2015).

Commitments and Contingencies - Litigation

Commitments and Contingencies — Litigation

Revenue Recognition

Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales on the Consolidated Statements of Operations.

Shipping and Handling Cost

Shipping and Handling Costs

Costs incurred for the transfer and delivery of goods to customers are recorded as a component of cost of sales.

Research and Development

We expense research and development costs as incurred. Research and development costs were $129 million in 2015, $135 million in 2014 and $133 million in 2013.

Share-Based Incentive Compensation

Environmental Expenditures

Income Taxes

See Note 16, “Income Taxes,” for further discussion.

Cash and Cash Equivalents

Accounts Receivable Securitization Programs

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

Trade Receivables, Net

Property and Equipment, Net

Goodwill and Identifiable Intangible Assets

Impairment and Disposal of Long-Lived Assets

Self-Insurance

Pensions

See Note 14, “Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans,” for information about the Company’s benefit plans.

Net Earnings per Common Share

See Note 21, “Net Earnings Per Common Share,” for further discussion.

Recently Issued Accounting Standards

Recently Adopted Accounting Standards

Recently Issued Accounting Standards

Divestitures and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2015

North American Foam Trays and Absorbent Pads [Member]

Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]

Carrying Value of Assets and Liabilities

	April 1,		December 31,
(In millions)	2015		2014
Assets:
Other receivables	$	—	$	0.1
Inventories		15.2		12.3
Prepaid expenses		0.1		0.1
Property and equipment, net		22.6		22.6
Goodwill		6.9		6.9
Assets held for sale	$	44.8	$	42.0

Liabilities:
Accrued liabilities		2.7		6.1
Liabilities held for sale	$	2.7	$	6.1

European Food Trays [Member]

Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]

Carrying Value of Assets and Liabilities

	November 1,		December 31,
(In millions)	2015		2014
Assets:
Receivables, net	$	0.2	$	0.2
Inventories, net		6.0		6.9
Other current assets		0.8		0.3
Property and equipment, net		22.4		27.6
Goodwill		1.5		1.7
Other non-current assets		0.4		0.4
Assets held for sale	$	31.3	$	37.1

Liabilities:
Accounts payable		1.6		1.6
Accrued liabilities		2.1		4.2
Other current liabilities		0.6		0.5
Long term debt		0.4		0.6
Other non-current liabilities		0.1		—
Liabilities held for sale	$	4.8	$	6.9

Rigid Medical Packaging Business [Member]

Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]

Carrying Value of Assets and Liabilities

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

	Year Ended December 31,
(In millions)	2013
Net sales	$	89.6
Operating profit	$	11.4
Earnings before income tax provision	$	11.1
Income tax provision		3.5
Net earnings from discontinued operations	$	7.6
Gain on sale of discontinued operations before income tax provision	$	40.2
Income tax provision on sale		17.3
Net gain on sale of discontinued operations	$	22.9

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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Net Sales and Adjusted EBITDA of Reportable Segments

Segments (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

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

	Year Ended December 31,
(In millions)	2015			2014			2013
Net Sales:
Food Care	$	3,405.1		$	3,835.3		$	3,814.2
As a % of Total Company net sales		48.4	%		49.5	%		49.6	%
Diversey Care		1,999.1			2,173.1			2,160.8
As a % of Total Company net sales		28.4	%		28.0	%		28.1	%
Product Care		1,540.5			1,655.0			1,610.0
As a % of Total Company net sales		21.9	%		21.4	%		20.9	%
Total Reportable Segments Net Sales		6,944.7			7,663.4			7,585.0
Other		86.8		87.1				105.8
Total Company Net Sales	$	7,031.5		$	7,750.5		$	7,690.8

	Year Ended December 31,
(In millions)	2015			2014			2013
Adjusted EBITDA:
Food Care	$	689.8		$	670.2		$	614.7
Adjusted EBITDA Margin		20.3	%		17.5	%		16.1	%
Diversey Care	231.9				245.0		237.3
Adjusted EBITDA Margin		11.6	%		11.3	%		11.0	%
Product Care		321.0		292.7			266.3
Adjusted EBITDA Margin		20.8	%		17.7	%		16.5	%
Total Reportable Segments Adjusted EBITDA		1,242.7			1,207.9			1,118.3
Other		(68.6	)		(89.6	)		(77.8	)
Non-U.S. GAAP Total Company Adjusted EBITDA	$	1,174.1		$	1,118.3		$	1,040.5
Adjusted EBITDA Margin		16.7	%		14.4	%		13.5	%

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:

	Year Ended December 31,
(In millions)	2015			2014			2013
Total Company Adjusted EBITDA	$	1,174.1		$	1,118.3		$	1,040.5
Depreciation and amortization⁽¹⁾		(274.5	)		(320.8	)		(307.5	)
Special items:
Accelerated depreciation of non-strategic assets related to restructuring programs		0.2			2.1			5.3
Restructuring and other charges⁽²⁾		(78.3	)		(65.7	)		(73.8	)
Other restructuring associated costs included in cost of sales and selling, general and administrative expenses		(42.9	)		(35.8	)		(26.6	)
Development grant matter included in selling, general and administrative expenses		—			(14.0	)		—
Termination of licensing agreement		—			(5.3	)		—
SARs		(3.9	)		(8.1	)		(38.1	)
Impairments of equity method investment		—			(5.7	)		(2.1	)
Foreign currency exchange (loss) gains related to Venezuelan subsidiaries		(33.1	)		(20.4	)		(13.1	)
Loss on debt redemption and refinancing activities		(110.0	)		(102.5	)		(36.3	)
Gain (loss) from Claims Settlement in 2014 and related costs		—			21.1			(1.0	)
Gain, net, on sale of North American foam trays and absorbent pads business and European food trays business		13.4			—			—
Non-operating charge for contingent guarantee included in other income (expense), net		—			(2.5	)		—
Other special items		8.6			(5.8	)		(6.1	)
Interest expense		(227.7	)		(287.7	)		(361.0	)
Income tax provision		90.5			9.1			84.9
Net earnings from continuing operations	$	335.4		$	258.1		$	95.3

⁽¹⁾	Depreciation and amortization by segment is as follows:

	Year Ended December 31,
(In millions)	2015		2014		2013
Food Care	$	107.9	$	121.3	$	118.4
Diversey Care		105.5		126.3		132.3
Product Care		37.4		41.4		38.2
Total reportable segments		250.8		289.0		288.9
Other		23.7		31.8		18.6
Total Company depreciation and amortization⁽¹⁾	$	274.5	$	320.8	$	307.5

⁽¹⁾	Includes share-based incentive compensation of $61.2 million in 2015, $54.1 million in 2014, and $24.1 million in 2013.

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

	Year Ended December 31,
(In millions)	2015		2014		2013
Food Care	$	37.9	$	27.3	$	25.1
Diversey Care		22.2		24.3		32.2
Product Care		17.2		13.6		16.4
Total reportable segments		77.3		65.2		73.7
Other		1.0		0.5		0.1
Total Company restructuring and other charges	$	78.3	$	65.7	$	73.8

Assets by Reportable Segments

	December 31,		December 31,
(In millions)	2015		2014
Assets:
Trade receivables, net, and finished goods inventories, net
Food Care	$	522.4	$	678.2
Diversey Care		440.3		514.5
Product Care		219.6		279.1
Other		14.8		14.0
Total segments and other		1,197.1		1,485.8
Assets not allocated
Cash and cash equivalents		358.4		286.4
Property and equipment, net		930.7		943.0
Goodwill		2,909.5		2,996.9
Intangible assets, net		784.3		872.2
Assets held for sale		10.3		106.4
Other		1,235.7		1,262.5
Total	$	7,426.0	$	7,953.2

Geographic Information

	Year Ended December 31,
(In millions)	2015		2014		2013
Net sales⁽¹⁾:
North America⁽⁴⁾	$	2,923.2	$	3,071.9	$	3,004.9
EMEA⁽³⁾		2,410.4		2,783.2		2,770.7
Latin America		695.8		807.5		840.7
APAC⁽³⁾		1,002.1		1,087.9		1,074.5
Total	$	7,031.5	$	7,750.5	$	7,690.8

Total long-lived assets⁽¹⁾⁽²⁾:
North America	$	616.5	$	542.5
EMEA⁽³⁾		377.3		413.2
Latin America		127.0		143.6
APAC⁽³⁾		191.1		216.8
Total	$	1,311.9	$	1,316.1

⁽¹⁾

⁽²⁾	Total long-lived assets represent total assets excluding total current assets, deferred tax assets, goodwill and intangible assets.

⁽³⁾

⁽⁴⁾	Net sales to external customers within the U.S. were $2,685.3 million for the year ended December 31, 2015, $2,797.5 million for the year ended December 31, 2014 and $2,724.5 million for the year ended December 31, 2013.

Inventories (Tables)

12 Months Ended

Dec. 31, 2015

Inventory Disclosure [Abstract]

Property Plant And Equipment [Abstract]

The following table details our inventories:

	December 31,		December 31,
(In millions)	2015		2014⁽¹⁾
Inventories, net:
Raw materials	$	109.6	$	103.9
Work in process		112.4		100.7
Finished goods		438.8		483.9
Total	$	660.8	$	688.5

⁽¹⁾	Excludes North American foam trays and absorbent pads and European food trays business inventory. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Property and Equipment, Net

The following table details our property and equipment.

	December 31,			December 31,
(In millions)	2015			2014⁽¹⁾
Land and improvements	$	86.7		$	98.6
Buildings		602.0			636.0
Machinery and equipment		2,141.3			2,195.9
Other property and equipment		129.1			140.0
Construction-in-progress		190.7			109.0
Property and equipment, gross		3,149.8			3,179.5
Accumulated depreciation and amortization		(2,219.1	)		(2,236.5	)
Property and equipment, net	$	930.7		$	943.0

⁽¹⁾	Excludes North American foam trays and absorbent pads and European food trays business property and equipment, net. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

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 for the three years ended December 31, 2015.


	Year Ended December 31,
(In millions)	2015		2014		2013
Interest cost capitalized	$	5.4	$	6.2	$	4.9
Depreciation and amortization expense for property and equipment	$	124.6	$	147.8	$	160.2

Goodwill and Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Goodwill Balances by Segment Reporting Structure

The following table shows our goodwill balances by our segment reporting structure:

(In millions)	Food Care			Diversey Care			Product Care			Other⁽²⁾			Total
Gross Carrying Value at December 31, 2014⁽¹⁾	$	811.1		$	1,900.8		$	1,371.2		$	4.8		$	4,087.9
Accumulated impairment		(208.0	)		(883.0	)		—			—			(1,091.0	)
Carrying Value at December 31, 2014⁽¹⁾	$	603.1		$	1,017.8		$	1,371.2		$	4.8		$	2,996.9
Acquisition		6.7			6.7			6.3			—			19.7
Dispositions		—			—			(3.1	)		—			(3.1	)
Other		3.2			—			—			(3.2	)		—
Currency translation		(16.7	)		(86.6	)		(0.7	)		—			(104.0	)
Gross Carrying Value at December 31, 2015		804.3			1,820.9			1,373.7			1.6			4,000.5
Accumulated impairment		(208.0	)		(883.0	)		—			—			(1,091.0	)
Carrying Value at December 31, 2015	$	596.3		$	937.9		$	1,373.7		$	1.6		$	2,909.5

⁽¹⁾	Excludes North American foam trays and absorbent pads and European food trays business goodwill. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

⁽²⁾	Represents goodwill of our Medical Applications reporting unit.

Summary of Percentage by Which Estimated Fair Value Exceeds Carrying Value

The excess of estimated fair values over carrying value, including goodwill for each of our reporting units that had goodwill as of the 2015 annual impairment test were the following:


	% by Which Estimated Fair value
Reporting Unit	exceeds Carrying Value
Food Care — Packaging Solutions		410	%
Food Care — Hygiene Solutions		488	%
Diversey Care		55	%
Product Care		121	%
Medical Applications⁽¹⁾		819	%

⁽¹⁾	Included in the “Other” category for segment reporting purposes – See Note 4 for a description of our reportable segments.

Summarize of Identifiable Intangible Assets with Definite and Indefinite Useful Lives

The following tables summarize our identifiable intangible assets with definite and indefinite useful lives:

	December 31, 2015										December 31, 2014⁽²⁾
	Gross										Gross
	Carrying		Accumulated			Accumulated					Carrying		Accumulated			Accumulated
(In millions)	Value		Amortization			Impairment			Net		Value		Amortization			Impairment			Net
Customer relationships	$	846.2	$	(249.4	)	$	(148.9	)	$	447.9	$	890.8	$	(210.8	)	$	(148.9	)	$	531.1
Trademarks and tradenames		1.7		(0.4	)		—			1.3		1.3		(0.2	)		—			1.1
Capitalized software		143.0		(125.3	)		—			17.7		140.7		(113.8	)		—			26.9
Technology		141.9		(65.0	)		(22.2	)		54.7		125.7		(53.2	)		(22.2	)		50.3
Contracts		42.8		(31.2	)		—			11.6		40.6		(28.9	)		—			11.7
Total intangible assets with definite lives		1,175.6		(471.3	)		(171.1	)		533.2		1,199.1		(406.9	)		(171.1	)		621.1
Trademarks and tradenames with indefinite lives⁽¹⁾		881.3		—			(630.2	)		251.1		881.3		—			(630.2	)		251.1
Total identifiable intangible assets	$	2,056.9	$	(471.3	)	$	(801.3	)	$	784.3	$	2,080.4	$	(406.9	)	$	(801.3	)	$	872.2

⁽¹⁾	The intangible assets include $251 million of trademarks that we have determined to have indefinite useful lives, primarily acquired in connection with the acquisition of Diversey.

⁽²⁾	Excludes North American foam trays and absorbent pads business intangible assets. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at December 31, 2015.

Year	Amount (in millions)
2016	$	83.4
2017		76.9
2018		63.9
2019		56.3
Thereafter		252.7
Total	$	533.2

Remaining Weighted Average Useful Life of Definite Lived Intangible Assets

The following table shows the remaining weighted average useful life of our definite lived intangible assets as of December 31, 2015.

	Remaining weighted average useful lives
Customer relationships		8.8
Trademarks and trade names		5.7
Technology		4.0
Contracts		5.6
Total intangible assets with definite lives		8.1

Restructuring and Relocation Activities (Tables)

12 Months Ended

Dec. 31, 2015

Restructuring and Relocation Activities

The following table details our restructuring activities:

	Year Ended December 31,
	2015								2014								2013
(In millions)	IOP		EQIP		Fusion		Total		IOP		EQIP		Fusion		Total		IOP			EQIP		Total
Other associated costs	$	4.6	$	9.1	$	29.2	$	42.9	$	7.7	$	25.7	$	2.4	$	35.8	$	14.1		$	12.5	$	26.6
Restructuring charges		0.6		0.1		77.6		78.3		13.2		47.0		5.5		65.7		(7.0	)		80.8		73.8
Total	$	5.2	$	9.2	$	106.8	$	121.2	$	20.9	$	72.7	$	7.9	$	101.5	$	7.1		$	93.3	$	100.4

FUSION [Member]

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

Fusion restructuring accrual at December 31, 2014	$	5.5
Accrual and accrual adjustments		77.6
Cash payments during 2015		(18.6	)
Effect of changes in foreign currency exchange rates		(1.6	)
Fusion restructuring accrual at December 31, 2015	$	62.9

EQIP [Member]

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

EQIP restructuring accrual at December 31, 2014	$	41.9
Accrual and accrual adjustments		0.1
Cash payments during 2015		(28.9	)
Effect of changes in foreign currency exchange rates		(4.0	)
EQIP restructuring accrual at December 31, 2015	$	9.1

IOP [Member]

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

IOP restructuring accrual at December 31, 2014	$	13.1
Accrual and accrual adjustments		0.6
Cash payments during 2015		(8.5	)
Effect of changes in foreign currency exchange rates		(0.9	)
IOP restructuring accrual at December 31, 2015	$	4.3

Other Current and Non-Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2015

Other Liabilities Disclosure [Abstract]

Components of Other Current and Other Non-Current Liabilities

The following tables detail our other current liabilities and other non-current liabilities at December 31, 2015 and 2014:

	December 31,		December 31,
(In millions)	2015		2014⁽¹⁾
Other current liabilities:
Accrued salaries, wages and related costs	$	288.4	$	324.2
Accrued operating expenses		240.6		292.9
Income taxes payable		49.7		38.1
Accrued customer volume rebates		165.6		180.1
Accrued interest		38.8		46.0
Accrued employee benefit liability		6.6		8.6
Total	$	789.7	$	889.9

	December 31,		December 31,
(In millions)	2015		2014
Other non-current liabilities:
Accrued employee benefit liability	$	378.1	$	347.6
Other postretirement liability		62.2		77.4
Other various liabilities		273.8		279.1
Total	$	714.1	$	704.1

(1)	Excludes other current liabilities of the North American foam trays and absorbent pads business and European food trays business. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Total Debt Outstanding

Our total debt outstanding consisted of the amounts set forth on the following table:

	December 31,		December 31,
(In millions)	2015		2014
Short-term borrowings ⁽¹⁾	$	241.9	$	143.3
Current portion of long-term debt		46.6		1.0
Total current debt		288.5		144.3
Term Loan A due July 2017, less unamortized lender fees of $0.2 million in 2015 and $0.3 million in 2014		249.8		249.7
Term Loan A due July 2019, less unamortized lender fees of $8.1 million in 2015 and $10.6 million in 2014⁽²⁾		1,060.5		1,129.4
6.50% Senior Notes due December 2020		427.6		428.1
8.375% Senior Notes due September 2021		—		750.0
4.875% Senior Notes due December 2022		425.0		425.0
5.25% Senior Notes due April 2023		425.0		425.0
4.50% Senior Notes due September 2023		437.3		—
5.125% Senior Notes due December 2024		425.0		425.0
5.50% Senior Notes due September 2025		400.0		—
6.875% Senior Notes due July 2033, less unamortized discount of $1.3 million in 2015 and $1.3 million in 2014		448.7		448.7
Other		3.8		1.1
Total long-term debt, less current portion		4,302.7		4,282.0
Total debt⁽³⁾⁽⁴⁾	$	4,591.2	$	4,426.3

⁽¹⁾

⁽²⁾	Term Loan A facility due July 2019 has required prepayments which are due in 2016.

⁽³⁾

⁽⁴⁾	Long-term debt instruments are listed in order of priority.

Lines of Credit

	December 31,		December 31,
(In millions)	2015		2014
Used lines of credit⁽¹⁾⁽²⁾	$	241.9	$	143.3
Unused lines of credit		1,039.9		1,108.8
Total available lines of credit⁽³⁾	$	1,281.8	$	1,252.1

⁽¹⁾	Includes total borrowings under the accounts receivable securitization programs, the revolving credit facility and borrowings under lines of credit available to several subsidiaries.

⁽²⁾	As of December 31, 2015 and 2014, there were $56 million and $36 million of cash held on deposit, respectively, as a compensating balance for certain short-term borrowings.

⁽³⁾	Of the total available lines of credit, $892 million were committed as of December 31, 2015.

Scheduled Annual Maturities for Next Five Years and Thereafter

Year	Amount (in millions)
2016	$	46.6
2017		322.1
2018		71.9
2019		928.1
2020		425.3
Thereafter		2,562.3
Total	$	4,356.3

Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2015

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 Consolidated Balance Sheets.

	Cash Flow Hedge						Net Investment Hedge					Non-Designated as Hedging Instruments						Total
	December 31,			December 31,			December 31,			December 31,		December 31,			December 31,			December 31,			December 31,
(In millions)	2015			2014			2015			2014		2015			2014			2015			2014
Derivative Assets
Foreign currency forward contracts	$	3.2		$	4.3		$	—		$	—	$	25.0		$	41.3		$	28.2		$	45.6
Interest rate and currency swaps		44.0			17.8			—			—		—			—			44.0			17.8
Total Derivative Assets ⁽²⁾	$	47.2		$	22.1		$	—		$	—	$	25.0		$	41.3		$	72.2		$	63.4

Derivative Liabilities
Foreign currency forward contracts	$	(1.3	)	$	(0.4	)	$	—		$	—	$	(43.5	)	$	(67.6	)	$	(44.8	)	$	(68.0	)
Cross-currency swaps		—			—			(12.0	)		—		—			—			(12.0	)		—
Total Derivative Liabilities⁽²⁾	$	(1.3	)	$	(0.4	)	$	(12.0	)	$	—	$	(43.5	)	$	(67.6	)	$	(56.8	)	$	(68.0	)
Net Derivatives ⁽¹⁾	$	45.9		$	21.7		$	(12.0	)	$	—	$	(18.5	)	$	(26.3	)	$	15.4		$	(4.6	)

⁽¹⁾	Excludes $437.3 million of euro-denominated debt designated as a net investment hedge at December 31, 2015.

⁽²⁾

	Other Current Assets						Other Current Liabilities						Other Non-current Assets					Other Non-current Liabilities
	December 31,			December 31,			December 31,			December 31,			December 31,		December 31,			December 31,			December 31,
(In millions)	2015			2014			2015			2014			2015		2014			2015			2014
Gross position	$	36.2		$	34.3		$	(44.8	)	$	(48.8	)	$	36.0	$	27.1		$	(12.0	)	$	(17.2	)
Impact of master netting agreements		(24.1	)		(25.2	)		24.1			25.2			—		(9.3	)		—			9.3
Net amounts recognized on the Consolidated Balance Sheet	$	12.1		$	9.1		$	(20.7	)	$	(23.6	)	$	36.0	$	17.8		$	(12.0	)	$	(7.9	)

Effect of Derivative Instruments on Condensed Consolidated Statements of Operations

The following table details the effect of our derivative instruments on our Consolidated Statements of Operations.

	Amount of Gain (Loss) Recognized in
	Earnings on Derivatives
	Year Ended December 31,
(In millions)	2015		2014		2013
Derivatives designated as hedging instruments:
Cash Flow Hedges:
Foreign currency forward contracts⁽¹⁾	$	9.6	$	1.9	$	2.7
Interest rate and currency swaps⁽²⁾		36.9		13.5		—
Treasury locks⁽³⁾		0.1		0.1		0.1
Sub-total cash flow hedges		46.6		15.5		2.8
Fair Value Hedges:
Interest rate swaps		0.4		1.8		—
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		32.0		0.4		(8.5	)
Total	$	79.0	$	17.7	$	(5.7	)

⁽¹⁾

Amounts recognized on the foreign currency forward contracts were included in other income (expense), net.

⁽²⁾

⁽³⁾	Amounts recognized on the treasury locks were included in interest expense.

Fair Value Measurements and Other Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Hierarchy of Financial Instruments

	December 31, 2015
(In millions)	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents	$	56.3		$	48.3	$	8.0		$	—
Compensating balance deposits	$	56.5		$	56.5	$	—		$	—
Derivative financial and hedging instruments net asset (liability):
Foreign currency forward contracts	$	(16.5	)	$	—	$	(16.5	)	$	—
Interest rate and currency swaps	$	44.0		$	—	$	44.0		$	—
Cross-currency swaps	$	(12.0	)	$	—	$	(12.0	)	$	—

	December 31, 2014
(In millions)	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents⁽¹⁾⁽²⁾	$	28.5		$	23.2	$	5.3		$	—
Compensating balance deposits⁽¹⁾	$	36.2		$	36.2	$	—		$	—
Derivative financial instruments net asset (liability):
Foreign currency forward contracts	$	(22.4	)	$	—	$	(22.4	)	$	—
Interest rate and currency swaps	$	17.8		$	—	$	17.8		$	—

⁽¹⁾

⁽²⁾	Within the fair value hierarchy, we reclassified $23.2 million of bank time deposits from Level 2 to Level 1. See below for additional disclosures on cash equivalents disclosed in the table above.

Carrying Amounts and Estimated Fair Values of Debt

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

	December 31, 2015				December 31, 2014
	Carrying		Fair		Carrying		Fair
(In millions)	Amount		Value		Amount		Value
Term Loan A Facility due July 2017	$	249.8	$	249.8	$	249.7	$	249.7
Term Loan A Facility due July 2019⁽¹⁾		1,105.4		1,105.4		1,129.4		1,129.4
6.50% Senior Notes due December 2020		427.6		473.7		428.1		469.7
8.375% Senior Notes due September 2021		—		—		750.0		843.3
4.875% Senior Notes due December 2022		425.0		426.5		425.0		423.3
5.25% Senior Notes due April 2023		425.0		436.2		425.0		429.6
4.50% Senior Notes due September 2023⁽¹⁾		437.3		452.7		—		—
5.125% Senior Notes due December 2024		425.0		427.6		425.0		428.5
5.50% Senior Notes due September 2025		400.0		410.2		—		—
6.875% Senior Notes due July 2033		448.7		462.7		448.7		462.9
Other foreign loans⁽¹⁾		165.7		165.8		73.9		73.8
Other domestic loans		81.7		81.9		71.5		71.5
Total debt	$	4,591.2	$	4,692.5	$	4,426.3	$	4,581.7

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

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation And Retirement Disclosure [Abstract]

Schedule of Components of Net Periodic Benefit Cost

The following table shows the components of our net periodic benefit cost for the three years ended December 31, for our pension plans charged to operations:

	Year Ended December 31,
(In millions)	2015			2014		2013
Net periodic benefit cost:
U.S. and international net periodic benefit (income) cost included in cost of sales	$	(0.5	)	$	5.6	$	5.8
U.S. and international net periodic benefit cost included in selling, general and administrative expenses		10.7			10.6		11.2
Total benefit cost	$	10.2		$	16.2	$	17.0

The following table shows the components of our net periodic benefit cost (income) for the three years ended December 31, for our pension plans charged to operations:

	December 31,									December 31,									December 31,
	2015									2014									2013
(In millions)	U.S.			International			Total			U.S.			International			Total			U.S.			International			Total
Components of net periodic benefit cost or (income):
Service cost	$	0.7		$	10.6		$	11.3		$	1.1		$	8.9		$	10.0		$	1.3		$	11.0		$	12.3
Interest cost		8.6			29.0			37.6			8.7			39.3			48.0			7.9			35.5			43.4
Expected return on plan assets		(11.4	)		(39.3	)		(50.7	)		(11.2	)		(42.9	)		(54.1	)		(11.1	)		(38.1	)		(49.2	)
Amortization of net prior service cost	—				0.1			0.1			—			0.1			0.1			0.2			0.2			0.4
Amortization of net actuarial loss		1.8			8.9			10.7			0.8			9.1			9.9			2.2			7.8			10.0
Net periodic benefit cost (income)		(0.3	)		9.3			9.0			(0.6	)		14.5			13.9			0.5			16.4			16.9
Cost (income) of settlement/curtailment		1.6			(0.4	)		1.2			—			2.3			2.3			(0.7	)		0.8			0.1
Total benefit cost (income)	$	1.3		$	8.9		$	10.2		$	(0.6	)	$	16.8		$	16.2		$	(0.2	)	$	17.2		$	17.0

Funded Status for Pension Plans

The measurement date used to determine plan assets is December 31 for all plans:

	December 31,									December 31,
	2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	221.4		$	1,148.1		$	1,369.5		$	192.2		$	1,070.4		$	1,262.6
Service cost		0.7			10.6			11.3			1.1			8.9			10.0
Interest cost		8.6			29.0			37.6			8.7			39.3			48.0
Actuarial loss (gain)		(3.5	)		15.2			11.7			31.4			186.5			217.9
Settlement/curtailment		(4.9	)		(6.5	)		(11.4	)	—				(9.6	)		(9.6	)
Benefits paid		(13.7	)		(34.5	)		(48.2	)		(12.0	)		(36.6	)		(48.6	)
Employee contributions	—				3.5			3.5		—				3.4			3.4
Other⁽¹⁾		6.4			27.1			33.5		—				0.3			0.3
Foreign exchange impact	—				(88.0	)		(88.0	)	—				(114.5	)		(114.5	)
Projected benefit obligation at end of period		215.0			1,104.5			1,319.5			221.4			1,148.1			1,369.5
Change in plan assets:
Fair value of plan assets at beginning of period		181.6			862.4			1,044.0			177.4			845.8			1,023.2
Actual return on plan assets		(5.6	)		20.0			14.4			14.4			106.7			121.1
Employer contributions		0.5			28.2			28.7			2.6			33.5			36.1
Employee contributions	—				3.5			3.5		—				3.4			3.4
Benefits paid		(13.7	)		(34.5	)		(48.2	)		(12.0	)		(36.6	)		(48.6	)
Settlement/curtailment		(5.9	)		(2.3	)		(8.2	)	—				(9.6	)		(9.6	)
Other		(0.2	)		(1.9	)		(2.1	)		(0.8	)		2.6			1.8
Foreign exchange impact	—				(62.1	)		(62.1	)	—				(83.4	)		(83.4	)
Fair value of plan assets at end of period		156.7			813.3			970.0			181.6			862.4			1,044.0
Underfunded status at end of year	$	(58.3	)	$	(291.2	)	$	(349.5	)	$	(39.8	)	$	(285.7	)	$	(325.5	)
Accumulated benefit obligation at end of year	$	210.4		$	1,065.6		$	1,276.0		$	218.0		$	1,096.6		$	1,314.6

⁽¹⁾	Other changes in the benefit obligation as of December 31, 2015 included the addition of the French plans of $27.3 million which were not included in our valuation in prior years.

Amounts Included in Consolidated Balance Sheets

Amounts included in the Consolidated Balance Sheet consisted of:

	December 31,									December 31,
	2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total
Other assets	$	—		$	33.7		$	33.7		$	—		$	25.0		$	25.0
Other current liabilities	—				(4.0	)		(4.0	)	—				(4.1	)		(4.1	)
Other liabilities		(58.3	)		(319.8	)		(378.1	)		(39.8	)		(306.6	)		(346.4	)
Net amount recognized	$	(58.3	)	$	(290.1	)	$	(348.4	)	$	(39.8	)	$	(285.7	)	$	(325.5	)

Amounts in Accumulated Other Comprehensive Loss, Not Yet Recognized

The amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at December 31, 2015 and 2014 are:

	December 31,						December 31,
	2015						2014
(In millions)	U.S.		International		Total		U.S.		International		Total
Unrecognized prior service costs	$	—	$	0.1	$	0.1	$	—	$	0.5	$	0.5
Unrecognized net actuarial loss		40.9		321.2		362.1		29.7		299.1		328.8
Total	$	40.9	$	321.3	$	362.2	$	29.7	$	299.6	$	329.3

Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income)

Changes in plan assets and benefit obligations recognized in other comprehensive loss (income) at December 31, 2015 and 2014 were as follows:

	December 31,									December 31,
	2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total
Current year actuarial (gain) loss	$	14.6		$	30.2		$	44.8		$	28.3		$	119.0		$	147.3
Amortization of actuarial loss		(1.7	)		(8.9	)		(10.6	)		(0.8	)		(9.1	)		(9.9	)
Amortization of prior service cost	—				(0.1	)		(0.1	)		(0.1	)		—			(0.1	)
Settlement/curtailment (gain) loss		(1.6	)		0.4			(1.2	)		—			(2.3	)		(2.3	)
Total recognized in other comprehensive loss	$	11.3		$	21.6		$	32.9		$	27.4		$	107.6		$	135.0

Amounts in Accumulated Other Comprehensive Loss Expected to be Recognized in Next Fiscal Year

The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost during the year ended December 31, 2016 are as follows:

	Year ended
	2015
(In millions)	U.S.		International		Total
Unrecognized prior service costs	$	—	$	0.2	$	0.2
Unrecognized net actuarial loss		1.9		8.9		10.8
Total	$	1.9	$	9.1	$	11.0

Information for Plans with Accumulated Benefit Obligations in Excess of Plan Assets

Information for plans with accumulated benefit obligations in excess of plan assets as of December 31, 2015 and 2014 are as follows:

	December 31,						December 31,
	2015						2014
(In millions)	U.S.		International		Total		U.S.		International		Total
Accumulated benefit obligation	$	210.4	$	751.4	$	961.8	$	218.0	$	908.3	$	1,126.3
Fair value of plan assets		156.7		458.3		615.0		181.6		643.8		825.4

Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted average assumptions used to determine benefit obligations at December 31, 2015 and 2014 were as follows:

	December 31,						December 31,
	2015						2014
(In millions)	U.S.			International			U.S.			International
Benefit obligations
Discount rate		4.3	%		2.6	%		3.9	%		2.7	%
Rate of compensation increase		3.0	%		2.5	%		3.0	%		2.7	%

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost

Weighted average assumptions used to determine net periodic benefit cost for the three years ended December 31, were as follows:

	December 31,						December 31,						December 31,
	2015						2014						2013
(In millions)	U.S.			International			U.S.			International			U.S.			International
Net periodic benefit cost
Discount rate		3.9	%		2.7	%		4.6	%		3.8	%		3.8	%		3.7	%
Expected long-term rate of return		6.5	%		4.9	%		6.5	%		5.2	%		6.5	%		5.0	%
Rate of compensation increase		3.0	%		2.7	%		3.0	%		2.9	%		3.5	%		2.8	%

Estimated Future Benefit Payments

We expect the following estimated future benefit payments, which reflect expected future service as appropriate, to be paid in the years indicated:

	Amount
(In millions)	U.S.		International		Total
Year
2016	$	14.4	$	33.8	$	48.2
2017		13.8		32.7		46.5
2018		14.5		33.7		48.2
2019		14.3		34.9		49.2
2020		13.4		36.4		49.8
Thereafter		69.0		207.9		276.9
Total	$	139.4	$	379.4	$	518.8

Fair Values of Pension Plan Assets, by Asset Category and Level of Fair Values

The fair values of our U.S. and international pension plan assets, by asset category and by the level of fair values are as follows:

	2015								2014
	Total								Total
(In millions)	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
Cash and cash equivalents⁽¹⁾	$	6.3	$	2.1	$	4.2	$	—	$	9.6	$	4.8	$	4.8	$	—
Fixed income funds⁽²⁾		440.8	—			440.8	—			495.2		—		495.2		—
Equity funds⁽³⁾		380.0	—			380.0	—			392.8		—		392.8		—
Other⁽⁴⁾		142.9	—			26.0		116.9		146.4		—		23.2		123.2
Total	$	970.0	$	2.1	$	851.0	$	116.9	$	1,044.0	$	4.8	$	916.0	$	123.2

⁽¹⁾

⁽²⁾	Fixed income funds that invest in a diversified portfolio primarily consisting of publicly traded government bonds and corporate bonds. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end.

⁽³⁾	Equity funds that invest in a diversified portfolio of publicly traded domestic and international common stock, with an emphasis in European equities. There are no restrictions on these investments, and they are valued at the net asset value of shares held at year end.

⁽⁴⁾

Reconciliation of Plan Asset Measured Using Level 3 Inputs

The following table shows the activity of our U.S. and international plan assets, which are measured at fair value using Level 3 inputs.

	December 31,			December 31,
(In millions)	2015			2014
Balance at beginning of period	$	123.2		$	87.5
Gains on assets still held at end of year		6.1			5.3
Purchases, sales, issuance, and settlements		(1.1	)		10.5
Transfers in and/or out of Level 3		(4.9	)		31.3
Foreign exchange (loss)/gain		(6.4	)		(11.4	)
Balance at end of period	$	116.9		$	123.2

Other Post-Employment Benefits and Other Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2015

Funded Status for Pension Plans

The measurement date used to determine plan assets is December 31 for all plans:

	December 31,									December 31,
	2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	221.4		$	1,148.1		$	1,369.5		$	192.2		$	1,070.4		$	1,262.6
Service cost		0.7			10.6			11.3			1.1			8.9			10.0
Interest cost		8.6			29.0			37.6			8.7			39.3			48.0
Actuarial loss (gain)		(3.5	)		15.2			11.7			31.4			186.5			217.9
Settlement/curtailment		(4.9	)		(6.5	)		(11.4	)	—				(9.6	)		(9.6	)
Benefits paid		(13.7	)		(34.5	)		(48.2	)		(12.0	)		(36.6	)		(48.6	)
Employee contributions	—				3.5			3.5		—				3.4			3.4
Other⁽¹⁾		6.4			27.1			33.5		—				0.3			0.3
Foreign exchange impact	—				(88.0	)		(88.0	)	—				(114.5	)		(114.5	)
Projected benefit obligation at end of period		215.0			1,104.5			1,319.5			221.4			1,148.1			1,369.5
Change in plan assets:
Fair value of plan assets at beginning of period		181.6			862.4			1,044.0			177.4			845.8			1,023.2
Actual return on plan assets		(5.6	)		20.0			14.4			14.4			106.7			121.1
Employer contributions		0.5			28.2			28.7			2.6			33.5			36.1
Employee contributions	—				3.5			3.5		—				3.4			3.4
Benefits paid		(13.7	)		(34.5	)		(48.2	)		(12.0	)		(36.6	)		(48.6	)
Settlement/curtailment		(5.9	)		(2.3	)		(8.2	)	—				(9.6	)		(9.6	)
Other		(0.2	)		(1.9	)		(2.1	)		(0.8	)		2.6			1.8
Foreign exchange impact	—				(62.1	)		(62.1	)	—				(83.4	)		(83.4	)
Fair value of plan assets at end of period		156.7			813.3			970.0			181.6			862.4			1,044.0
Underfunded status at end of year	$	(58.3	)	$	(291.2	)	$	(349.5	)	$	(39.8	)	$	(285.7	)	$	(325.5	)
Accumulated benefit obligation at end of year	$	210.4		$	1,065.6		$	1,276.0		$	218.0		$	1,096.6		$	1,314.6

⁽¹⁾	Other changes in the benefit obligation as of December 31, 2015 included the addition of the French plans of $27.3 million which were not included in our valuation in prior years.

Estimated Future Benefit Payments

We expect the following estimated future benefit payments, which reflect expected future service as appropriate, to be paid in the years indicated:

	Amount
(In millions)	U.S.		International		Total
Year
2016	$	14.4	$	33.8	$	48.2
2017		13.8		32.7		46.5
2018		14.5		33.7		48.2
2019		14.3		34.9		49.2
2020		13.4		36.4		49.8
Thereafter		69.0		207.9		276.9
Total	$	139.4	$	379.4	$	518.8

Other Post-Employment Benefits and Other Employee Benefit Plans [Member]

Funded Status for Pension Plans

The status of these plans, including a reconciliation of benefit obligations, a reconciliation of plan assets and the funded status of the plans, follows:

	December 31,			December 31,
(In millions)	2015			2014
Change in benefit obligations:
Benefit obligation at beginning of period	$	79.8		$	73.1
Service cost		0.9			0.8
Interest cost		3.0			3.2
Actuarial loss (gain)		(4.7	)		7.2
Benefits paid, net		(4.1	)		(4.2	)
Loss due to exchange rate movements		(0.6	)		(0.5	)
Plan amendments		(8.5	)		0.2
Benefit obligation at end of period	$	65.8		$	79.8
Change in plan assets:
Fair value of plan assets at beginning of period	$	—		$	—
Employer contribution		4.1			4.2
Benefits paid, net		(4.1	)		(4.2	)
Fair value of plan assets at end of period	$	—		$	—
Net amount recognized:
Underfunded status	$	(65.8	)	$	(79.8	)
Accumulated benefit obligation at end of year	$	52.7		$	61.6
Net amount recognized in consolidated balance sheets consists of:
Current liability		(5.1	)		(5.3	)
Noncurrent liability		(60.7	)		(74.5	)
Net amount recognized	$	(65.8	)	$	(79.8	)
Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	$	8.6		$	13.8
Prior service credit		(17.6	)		(11.2	)
Total	$	(9.0	)	$	2.6

Components Of Net Periodic Benefit Cost Other Post Employment Benefit Plans

The components of net periodic benefit cost for the three years ended December 31 were as follows:

(In millions)	2015			2014			2013
Components of net periodic benefit cost:
Service cost	$	0.9		$	0.8		$	0.9
Interest cost		3.0			3.2			3.0
Amortization of net loss		0.4			0.1			0.4
Amortization of prior service credit		(0.8	)		(0.7	)		(0.7	)
Net periodic benefit cost	$	3.5		$	3.4		$	3.6

Accumulated Other Comprehensive Loss Expected to be Recognized as Components of Net Periodic Benefit Cost

	December 31,
(In millions)	2016
Unrecognized prior service costs	$	(1.5	)
Unrecognized net actuarial loss		0.1
Total		(1.4	)

One Percentage Point Change on Assumed Healthcare Cost

A one percentage point change on assumed healthcare cost trend rates would have the following effect for the year ended December 31, 2015 (in millions):

	1% Increase		1% Decrease
Effect on total of service and interest cost components	$	0.2	$	(0.1	)
Effect on post-retirement benefit obligation		3.5		(0.3	)

Estimated Future Benefit Payments

Expected post-retirement benefits (net of Medicare Part D subsidies) for each of the next five years and succeeding five years are as follows (in millions):

Year	Amount
2016	$	5.2
2017		5.1
2018		5.0
2019		5.0
2020		5.1
Thereafter		21.6
Total	$	47.0

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of Earnings (Loss) from Continuing Operations Before Income Tax Provision

The components of earnings (loss) from continuing operations before income tax provision were as follows:

	Year Ended December 31,
(In millions)	2015		2014			2013
Domestic	$	102.8	$	(62.2	)	$	(92.6	)
Foreign		323.1		329.4			272.8
Total	$	425.9	$	267.2		$	180.2

Components of Income Tax Provision (Benefit)

The components of our income tax provision (benefit) were as follows:

	Year Ended December 31,
(In millions)	2015			2014			2013
Current tax expense (benefit):
Federal	$	6.3		$	(216.0	)	$	(4.3	)
State and local		7.3			0.2			(3.9	)
Foreign		99.5			78.7			89.3
Total current expense (benefit)		113.1			(137.1	)		81.1
Deferred tax expense (benefit) :
Federal		(35.7	)		176.8			4.2
State and local		10.9			(27.2	)		10.4
Foreign		2.2			(3.4	)		(10.8	)
Total deferred tax expense (benefit)		(22.6	)		146.2			3.8
Total income tax provision	$	90.5		$	9.1		$	84.9

Components of Deferred Tax Assets (Liabilities)

Deferred tax assets (liabilities) consist of the following:

	December 31,			December 31,
(In millions)	2015			2014
Restructuring reserves	$	9.1		$	4.7
Accruals not yet deductible for tax purposes		45.6			56.5
Net operating loss carry forwards		250.1			291.1
Foreign, federal and state credits and investment tax allowances		162.2			109.3
Employee benefit items		166.5			163.8
Other		37.5			44.1
Gross deferred tax assets		671.0			669.5
Valuation allowance		(257.4	)		(227.8	)
Total deferred tax assets		413.6			441.7
Depreciation and amortization		(30.3	)		(40.0	)
Unremitted foreign earnings		(44.1	)		(130.0	)
Intangibles		(209.6	)		(214.2	)
Other		—			(11.7	)
Total deferred tax liabilities		(284.0	)		(395.9	)
Net deferred tax assets	$	129.6		$	45.8

Reconciliation of the Provision for Income Taxes

	Year Ended December 31,
	2015					2014					2013
Computed expected tax	$	149.1		35.0	%	$	93.5		35.0	%	$	63.0		35.0	%
State income taxes, net of federal tax benefit		5.2		1.2	%		(5.7	)	(2.1	)%		(2.2	)	(1.2	)%
Foreign earnings taxed at lower rates		(21.8	)	(5.1	)%		(35.2	)	(13.2	)%		(15.9	)	(8.8	)%
U.S. tax on foreign earnings		12.1		2.8	%		10.5		3.9	%		8.6		4.8	%
Foreign tax credits		(54.4	)	(12.8	)%		—		(—	)%		—		(—	)%
Unremitted foreign earnings		(86.0	)	(20.2	)%		(5.2	)	(1.9	)%		—		(—	)%
Overall foreign loss recapture		67.9		16.0	%		—		(—	)%		—		(—	)%
Net change in valuation allowance		(58.2	)	(13.7	)%		(13.2	)	(4.9	)%		40.3		22.4	%
Net change in unrecognized tax benefits		56.8		13.3	%		(23.4	)	(8.8	)%		3.6		2.0	%
Reorganization tax benefit		—		(—	)%		(2.2	)	(0.9	)%		(12.0	)	(6.7	)%
Other		19.8		4.7	%		(10.0	)	(3.7	)%		(0.5	)	(0.3	)%
Effective income tax rate	$	90.5		21.2	%	$	9.1		3.4	%	$	84.9		47.1	%

Unrecognized Tax Benefits and Effect on Effective Income Tax Rate

We are providing the following disclosures related to our unrecognized tax benefits and the effect on our effective income tax rate if recognized (in millions):

	Year Ended December 31,
	2015			2014			2013
Beginning balance of unrecognized tax benefits	$	188.9		$	221.9		$	233.2
Additions for tax positions of current year		3.1			5.2			7.5
Additions for tax positions of prior years		111.9			7.7			5.0
Reductions for tax positions of prior years		(64.8	)		(45.9	)		(23.8	)
Ending balance of unrecognized tax benefits	$	239.1		$	188.9		$	221.9

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

Commitments And Contingencies Disclosure [Abstract]

Estimated Future Cash Outlays Related to Principal Contractual Obligations

The estimated future cash outlays are as follows:

Year	Amount (in millions)
2016	$	223.1
2017		95.4
2018		60.3
2019		25.6
2020		10.7
Thereafter		1.0
Total	$	416.1

Estimated Future Minimum Annual Rental Commitments Under Non-Cancelable Real and Personal Property Leases

At December 31, 2015, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:

Year	Amount (in millions)
2016	$	50.4
2017		34.8
2018		22.0
2019		14.3
2020		7.7
Thereafter		11.3
Total	$	140.5

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Cash Dividends Paid

The following table shows our total cash dividends paid in the three years ended December 31:

			Total Cash Dividends
(In millions, except per share amounts)	Total Cash Dividends Paid		Paid Per Common Share
2013	$	102.0	$	0.52
2014		110.9		0.52
2015		106.8		0.52
Total	$	319.7

Summary of Changes in Common Stock and Common Stock in Treasury

The following is a summary of changes during the three years ended December 31, 2015 in shares of our common stock and common stock in treasury:

	2015			2014			2013
Changes in common stock:
Number of shares, beginning of year		224,683,653			205,707,580			204,660,621
Shares issued for Grace Settlement		—			18,000,000			—
Restricted stock shares issued for new awards under the Omnibus Incentive Plan and 2005 Contingent Stock Plan		419,844			572,089			398,230
Restricted stock shares, forfeited		(185,056	)		—			—
Shares issued for vested restricted stock units		172,071			136,197			98,550
Shares issued for 2012 Three-Year PSU Awards		442,985			—			—
Shares issued for 2011 Three-Year PSU Awards		—			145,597			—
Shares issued for 2010 Three-year PSU Awards		—			—			472,865
Shares issued for SLO awards		71,893			101,062			51,321
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors		20,246			21,128			25,993
Number of shares issued, end of year		225,625,636			224,683,653			205,707,580
Changes in common stock in treasury:
Number of shares held, beginning of year		14,151,759			9,508,908			10,102,952
Repurchase of common stock		16,123,111			5,427,432			—
Profit sharing contribution paid in stock		(787,463	)		(965,238	)		(857,754	)
Restricted stock share forfeitures transferred to Omnibus Incentive Plan Reserve		(75,638	)		—			—
Restricted stock shares, forfeited		—			106,220			40,100
Shares withheld for taxes		200,568			74,437			223,610
Number of shares held, end of year		29,612,337			14,151,759			9,508,908
Number of common stock outstanding, end of year		196,013,299			210,531,894			196,198,672

Summary of Changes in Common Shares Available for Awards under Omnibus Plan and Predecessor Plans

A summary of the changes in common shares available for awards under the Omnibus Incentive Plan and Predecessor Plans follows:

	2015			2014			2013
Number of shares available, beginning of year		8,775,994			5,676,699			6,588,352
Newly registered shares under Omnibus Incentive Plan		—			4,250,000			—
Restricted stock shares issued for new awards under the Omnibus Incentive Plan and 2005 Contingent Stock Plan		(419,844	)		(572,089	)		(398,230	)
Restricted stock shares forfeited		185,056			106,220			40,100
Restricted stock units awarded		(300,085	)		(431,987	)		(187,595	)
Restricted stock units forfeited		38,100			9,800			3,500
Shares issued for 2012 Three-year PSU Awards		(442,985	)		—			—
Shares issued for 2011 Three-year PSU Awards		—			(145,597	)		—
Shares issued for 2010 Three-year PSU Awards		—			—			(472,865	)
Restricted stock shares issued for SLO awards		—			(96,773	)		(21,505	)
Restricted stock units awarded for SLO awards		(134,078	)		(48,528	)		(51,033	)
SLO units forfeited		13,752			—			—
Director shares granted and issued		(20,246	)		(21,128	)		(25,993	)
Director units granted and deferred		(925	)		(20,444	)		(21,642	)
Shares withheld for taxes⁽¹⁾		—			69,821			223,610
Number of shares available, end of year ⁽²⁾		7,694,739			8,775,994			5,676,699

⁽¹⁾	The Omnibus Incentive Plan and 2005 Contingent Stock Plan permit “minimum” withholding of taxes and other charges that may be required by law to be paid attributable to awards by withholding a portion of the shares attributable to such awards.

⁽²⁾	The above table excludes approximately 4.1 million of contingently issuable shares under the PSU awards and SLO awards, which represents the maximum number of shares that could be issued under those plans as of December 31, 2015.

Summarizes the Company's Pre-tax Share-based Incentive Compensation Expense and Income Tax Benefit

(in millions)	2015		2014		2013
2015 Three-year PSU Awards	$	4.7	$	—	$	—
2014 Special PSU Awards		15.7		11.8		—
2014 Three-year PSU Awards		7.0		6.8		—
2013 Three-year PSU Awards		4.7		8.2		4.4
2012 Three-year PSU Awards		—		1.8		2.4
2011 Three-year PSU Awards		—		—		(1.2	)
2010 Three-year PSU Awards		—		—		0.1
2013 WVH Incentive Compensation⁽¹⁾		—		1.3		2.5
2012 President & COO Four-year Incentive Compensation⁽²⁾		0.3		0.4		0.6
SLO awards		3.7		4.6		2.8
Other long-term share-based incentive compensation programs⁽³⁾		25.1		19.2		12.5
Total share-based incentive compensation expense⁽⁴⁾	$	61.2	$	54.1	$	24.1
Associated tax benefits recognized	$	18.6	$	15.7	$	7.8

⁽¹⁾

⁽²⁾	The amount includes only the two initial equity awards. See below for further detail.

⁽³⁾	The amount includes the expenses associated with the restricted stock awards consisting of restricted stock shares, restricted stock units and cash-settled restricted stock unit awards.

⁽⁴⁾	The amounts do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock as these contributions are not considered share-based incentive compensation.

Restricted Stock [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Unvested Restricted Stock and Restricted Stock Unit

The following table summarizes activity for unvested restricted stock and restricted stock unit for 2015:

	Restricted stock shares							Restricted stock unit
	Shares			Weighted-Average per Share Fair Value on Grant Date		Aggregate Intrinsic Value (in millions)		Shares			Weighted-Average per Share Fair Value on Grant Date		Aggregate Intrinsic Value (in millions)
Non-vested at December 31, 2014		1,561,969		$	25.09				791,335		$	27.66
Granted		419,844		$	45.35				301,285		$	45.18
Vested		(593,970	)	$	17.21	$	28.8		(172,071	)	$	17.62	$	8.5
Forfeited or expired		(118,068	)	$	29.57				(38,100	)	$	20.16
Non-vested at December 31, 2015		1,269,775		$	35.09				882,449		$	35.93

Schedule of Vested Restricted Stock

A summary of the Company’s fair values of its vested restricted stock shares and restricted stock units are shown in the following table:

(In millions)	2015		2014		2013
Fair value of restricted stock shares vested	$	10.2	$	7.6	$	7.4
Fair value of restricted stock units vested	$	3.0	$	3.2	$	2.1

Schedule of Unrecognized Compensation Cost

(In millions)

Unrecognized Compensation Costs

Weighted Average

to be recognized

(in years)

Restricted Stock shares

20.7

1.4

Restricted Stock units

14.1

1.4

PSU Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Number of PSUs Granted Based on Adjusted EBITDA and Grant Date Fair Value

The number of PSUs granted based on Adjusted EBITDA and the grant date fair value are shown in the following table:

2015

2014

2013

Number of units granted

158,964

239,851

451,264

Weighted average fair value on grant

date

46.05

32.72

20.23

Summary of Assumptions Used to Calculate the Grant Date Fair Value Based on Total Shareholder Return

	2015			2014			2013
Number of units granted		65,796			129,150			242,988
Weighted average fair value on grant date	$	59.91		$	43.13		$	28.64
Expected price volatility⁽¹⁾		29.90	%		32.90	%		31.40	%
Risk-free interest rate⁽¹⁾		1.05	%		0.63	%		0.42	%

⁽¹⁾	Expected price volatility and risk-free interest rate for shares granted separately to William V. Hickey and Jerome A. Peribere were 31.5% and 0.36%, respectively.

Summary of Estimated Earned Payout

The following table includes additional information related to estimated earned payout based on the probable outcome of the performance condition and market condition as of December 31, 2015:

	Estimated Payout %
	Adjusted EBITDA			TSR			Combined
2015 Three-year PSU Awards		100	%		100	%		100	%
2014 Three-year PSU Awards		200	%		200	%		200	%
2013 Three-year PSU Awards		200	%		200	%		200	%

Summary of Activity for Outstanding PSUs Awards

The following table summarizes activity for outstanding PSUs awards for 2015:

	Shares			Aggregate Intrinsic Value (in millions) ⁽²⁾
Outstanding at December 31, 2014		1,346,375
Granted(1)		224,760
Converted		(432,574	)	$	19.6
Forfeited or expired		(57,116	)
Outstanding at December 31, 2015		1,081,445
Fully vested at December 31, 2015		531,440		$	47.4

⁽¹⁾	This represents the target number of performance units granted. Actual number of PSUs earned, if any, is dependent upon performance and may range from 0% to 200% percent of the target.

⁽²⁾	These amounts represent actual number of PSUs earned and vested at December 31, 2014 which were issued in February 2015.

Summary of Activity for Non-Vested PSUs Awards

The following table summarizes activity for non-vested PSUs awards for 2015:

	Shares			Weighted-Average per Share Fair Value on Grant Date
Non-vested at December 31, 2014		913,801		$	28.38
Granted		224,760		$	50.11
Vested		(531,440	)	$	24.32
Forfeited or expired		(57,116	)	$	25.55
Non-vested at December 31, 2015		550,005		$	41.99

Three-year PSU Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Unrecognized Compensation Cost

(In millions)

Unrecognized

Compensation Costs

Weighted Average

to be recognized

(in years)

2015 Three-year PSU Awards

6.5

2.0

2014 Three-year PSU Awards

4.9

1.0

Schedule of Fair Value of Vested for Three-year PSU Awards

A summary of the Company’s fair value for its vested three-year PSU awards is shown in the following table:

(In millions)

2015

2014

2013

Fair value of three-year PSU awards

vested

20.1

5.9

3.5

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Details of Comprehensive Income (Loss)

The following table provides details of comprehensive income (loss):

(In millions)	Unrecognized Pension Items			Cumulative Translation Adjustment			Unrecognized Gains (Losses) on Derivative Instruments for net investment hedge		Unrecognized Gains (Losses) on Derivative Instruments for cash flow hedge			Accumulated Other Comprehensive Income (Loss), Net of Taxes
Balance at December 31, 2013 ⁽¹⁾	$	(143.3	)	$	(137.7	)	$	—	$	3.6		$	(277.4	)
Other comprehensive income (loss) before reclassifications		(115.5	)		(232.2	)		—		12.9			(334.8	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		8.7			—			—		(10.3	)		(1.6	)
Net current period other comprehensive income (loss)		(106.8	)		(232.2	)		—		2.6			(336.4	)
Balance at December 31, 2014⁽¹⁾⁽²⁾		(250.1	)		(369.9	)		—		6.2			(613.8	)
Other comprehensive income (loss) before reclassifications		(22.8	)		(194.1	)		1.7		33.2			(182.0	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		6.9			—			—		(31.1	)		(24.2	)
Net current period other comprehensive income (loss)		(15.9	)		(194.1	)		1.7		2.1			(206.2	)
Balance at December 31, 2015⁽¹⁾⁽²⁾	$	(266.0	)	$	(564.0	)	$	1.7	$	8.3		$	(820.0	)

⁽¹⁾

⁽²⁾	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $31.1 million as of December 31, 2015 and $58.9 million as of December 31, 2014.

Detail of Amount Reclassified from Accumulated Other Comprehensive Income

The following table provides detail of amounts reclassified from accumulated other comprehensive income:

(In millions)	2015 (a)			2014 (a)			2013			Location of Amount Reclassified from AOCI
Defined benefit pension plans and other post- employment benefits:
Prior service costs	$	0.7		$	0.5		$	0.3		(b)
Actuarial losses		(11.1	)		(10.0	)		(10.4	)	(b)
Settlement/curtailment gain/(loss)		1.2			(2.1	)		—		(b)
Total pre-tax amount		(9.2	)		(11.6	)		(10.1	)
Tax (expense) benefit		2.3			2.9			3.4
Net of tax		(6.9	)		(8.7	)		(6.7	)
Net gains (losses) on cash flow hedging derivatives:
Foreign currency forward contracts		9.6			1.9			2.7		(c) Other income, net
Interest rate and currency swaps		36.9			13.5			—		(c) Various
Treasury locks		0.1			0.1			0.1		(c) Interest expense
Total pre-tax amount		46.6			15.5			2.8
Tax (expense) benefit		(15.5	)		(5.2	)		(0.7	)
Net of tax		31.1			10.3			2.1
Total reclassifications for the period	$	24.2		$	1.6		$	(4.6	)

^(a)	Amounts in parenthesis indicate debits to earnings (loss).

^(b)

^(c)	These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 12, “Derivatives and Hedging Activities” for additional details.

Other Income (Expense), net (Tables)

12 Months Ended

Dec. 31, 2015

Other Income And Expenses [Abstract]

Details of Other Income (Expense), Net

The following table provides details of other income (expense), net:

	Year Ended December 31,
(In millions)	2015			2014			2013
Interest and dividend income	$	13.5		$	15.5		$	11.0
Net foreign exchange transaction gains (losses)		5.3			(7.8	)		(10.5	)
Bank fee expense		(5.8	)		(5.0	)		(6.8	)
Net gain on disposals of property and equipment and other		3.3			—			—
Other, net		3.6			6.1			(5.6	)
Other income (expense), net	$	19.9		$	8.8		$	(11.9	)

Net Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

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

	Year Ended December 31,
(In millions, except per share amounts)	2015			2014			2013
Basic Net Earnings Per Common Share:

Numerator
Net earnings available to common stockholders	$	335.4		$	258.1		$	125.8
Distributed and allocated undistributed net earnings to non- vested restricted stockholders		(2.2	)		(1.6	)		(0.7	)
Distributed and allocated undistributed net earnings to common stockholders		333.2			256.5			125.1
Distributed net earnings - dividends paid to common stockholders		(106.2	)		(110.1	)		(101.3	)
Allocation of undistributed net earnings to common stockholders	$	227.0		$	146.4		$	23.8
Denominator
Weighted average number of common shares outstanding - basic		203.9			210.0			194.6
Basic net earnings per common share:
Distributed net earnings to common stockholders	$	0.52		$	0.52		$	0.52
Allocated undistributed net earnings to common stockholders		1.11			0.70			0.13
Basic net earnings per common share:	$	1.63		$	1.22		$	0.65
Diluted Net Earnings Per Common Share:
Numerator
Distributed and allocated undistributed net earnings to common stockholders	$	333.2		$	256.5		$	125.1
Add: Allocated undistributed net earnings to unvested restricted stockholders		1.6			1.0			0.2
Less: Undistributed net earnings reallocated to non- vested restricted stockholders		(1.6	)		(0.9	)		(0.1	)
Net earnings available to common stockholders - diluted	$	333.2		$	256.6		$	125.2
Denominator
Weighted average number of common shares outstanding - basic		203.9			210.0			194.6
Effect of assumed issuance of Settlement agreement shares (1)		—			1.6			18.0
Effect of contingently issuable shares (1)		1.3			0.9			0.7
Effect of unvested restricted stock units (1)		0.7			0.8			0.6
Weighted average number of common shares outstanding - diluted under two-class		205.9			213.3			213.9
Effect of unvested restricted stock - participating security (1)		0.8			0.6			0.3
Weighted average number of common shares outstanding - diluted under treasury stock		206.7			213.9			214.2
Diluted net earnings per common share	$	1.62		$	1.20		$	0.58

(1)

Summarized Quarterly Financial Information (Unaudited, in millions, except per share data) (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Financial Information (Unaudited, in millions, except per share data)

	2015
	First		Second		Third		Fourth
(In millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter⁽¹⁾
Net sales	$	1,746.4	$	1,785.0	$	1,746.2	$	1,753.9
Gross profit		649.6		663.8		636.6		636.6
Net earnings available to common stockholders		97.2		28.1		86.6		123.5
Net earnings per common share - basic⁽²⁾	$	0.46	$	0.13	$	0.43	$	0.63
Net earnings per common share - diluted⁽²⁾	$	0.46	$	0.13	$	0.42	$	0.62

	2014
	First		Second		Third		Fourth
(In millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter
Net sales	$	1,827.7	$	1,973.6	$	1,975.5	$	1,973.7
Gross profit		639.6		679.6		696.1		672.3
Net earnings available to common stockholders		70.9		60.1		60.8		66.3
Net earnings per common share - basic	$	0.34	$	0.28	$	0.29	$	0.31
Net earnings per common share - diluted	$	0.33	$	0.28	$	0.28	$	0.31

⁽¹⁾	During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.

⁽²⁾	The sum of the quarterly per share amounts may not agree to the respective annual amounts due to rounding.

Organization and Nature of Operations - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 Subsidiary
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of wholly-owned subsidiaries	3

Summary of Significant Accounting Policies and Recently Issued Accounting Standards - Additional Information (Detail)
$ in Millions

1 Months Ended

12 Months Ended

Dec. 31, 2015

USD ($)

Bs. / $

Dec. 31, 2014

USD ($)

Bs. / $

Dec. 31, 2015

USD ($)

Bank

Bs. / $

Dec. 31, 2014

USD ($)

Bs. / $

Dec. 31, 2013

USD ($)

Bs. / $

Feb. 12, 2015

Bs. / $

Feb. 08, 2013

Bs. / $

Feb. 07, 2013

Bs. / $

Dec. 31, 2012

USD ($)

^[1]

Net cash provided by (used in) operating activities

$ 967.7

$ (214.7)

^[1],[2]

$ 640.4

^[1]

Net cash (used in) provided by investing activities

(60.0)

(126.3)

^[1],[2]

(113.9)

^[1]

Effect of foreign currency exchange rate changes on cash and cash equivalents

(60.4)

(37.4)

^[1],[2]

(20.8)

^[1]

Reclassification of accounts payable to short term borrowings

$ 13.0

13.0

Reclassification of cash to other current and non-current assets

$ 56.0

36.2

56.0

36.2

Net cash (used in) provided by financing activities

775.3

327.6

^[1],[2]

319.9

^[1]

Unrecognized pension items

266.0

250.1

^[3],[4],[5]

266.0

250.1

^[3],[4],[5]

Unrealized net gain (loss) on derivative instruments for cash flow hedge

(564.0)

(369.9)

^[3],[4],[5]

(564.0)

(369.9)

^[3],[4],[5]

8.3

6.2

^[3],[4],[5]

8.3

6.2

^[3],[4],[5]

Recognition of deferred pension items

15.9

106.8

^[6]

1.1

^[6]

Excess tax benefit from settlement agreement, out of period adjustment

(194.1)

(232.2)

^[6]

(113.6)

^[6]

(46.0)

(38.0)

46.2

^[7]

Charges for rebates and other allowances

358.4

286.4

^{[1],[2],[3],[4],[5]}

$ 358.4

$ 286.4

^{[1],[2],[3],[4],[5]}

$ 992.4

^[1],[2]

$ 679.6

9.00%

Research and development costs

$ 129.0

$ 135.0

$ 133.0

Tax benefits realization percentage upon settlement

50.00%

Number of banks involved in sale of fractional ownership interest of accounts receivable | Bank

Percentage of identifiable intangible assets in consolidated total assets

11.00%

Decrease in current deferred tax assets

105.6

$ 105.6

Increase in non-current deferred tax assets

17.0

Decrease in current deferred tax liabilities

4.8

Decrease in non-current deferred tax liabilities

83.8

Accounting Standards Update (“ASU”) 2015-17 [Member]

Decrease in current deferred tax assets

105.6

Increase in non-current deferred tax assets

17.0

Decrease in current deferred tax liabilities

4.8

Decrease in non-current deferred tax liabilities

$ 83.8

83.8

Minimum [Member]

Finite lived identifiable intangible assets useful life

3 years

Minimum [Member] | Buildings [Member]

Minimum [Member] | Machinery and equipment [Member]

20 years

Minimum [Member] | Other Property and Equipment [Member]

5 years

2 years

Finite lived identifiable intangible assets useful life

15 years

Maximum [Member] | Buildings [Member]

Maximum [Member] | Machinery and equipment [Member]

40 years

Maximum [Member] | Other Property and Equipment [Member]

10 years

10 years

Venezuela [Member]

(46.0)

$ (46.0)

Exchange rate, re-measurement | Bs. / $

6.3

4.3

6.3

Pretax loss due to changes in exchange rates

$ 13.0

Foreign currency transaction loss related to remeasurement

33.0

$ 20.0

Net assets

5.0

Venezuela [Member] | Net Sales [Member] | Geographic Concentration Risk [Member]

$ 1.0

Venezuela [Member] | Operating Income [Member] | Geographic Concentration Risk [Member]

1.00%

Venezuela [Member] | SICAD [Member]

1.00%

Venezuela [Member] | C E N C O E X

13.5

49.9883

13.5

49.9883

11.3

Venezuela [Member] | SIMADI [Member]

6.3

198.6986

170.0390

Cash Flow Hedge [Member]

Unrealized losses on derivative instruments, net of taxes

$ 2.1

$ 2.6

^[6]

$ 2.2

^[6]

Restatement Adjustment

Net cash provided by (used in) operating activities

(12.8)

Net cash (used in) provided by investing activities

(15.2)

(8.5)

Effect of foreign currency exchange rate changes on cash and cash equivalents

(15.2)

7.1

Reclassification of accounts payable to short term borrowings

$ 12.8

12.8

Reclassification of cash to other current and non-current assets

36.2

Reclassification of cash to other current assets

9.7

Reclassification of cash to other non-current assets

26.5

Net cash (used in) provided by financing activities

23.3

Unrecognized pension items

(13.6)

Unrealized net gain (loss) on derivative instruments for cash flow hedge

12.6

$ 1.0

1.0

Recognition of deferred pension items

(16.5)

2.8

Restatement Adjustment | Cash Flow Hedge [Member]

15.9

(3.3)

Unrealized losses on derivative instruments, net of taxes

0.6

0.5

Restatement Adjustment | Foreign Currency Gain (Loss) [Member]

Net cash provided by (used in) operating activities

$ 0.0

$ 15.6

[1]	For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Consolidated Balance Sheets for the years ended December 31, 2014 and 2013. As a result, corresponding changes were made on the Consolidated Statement of Cash Flows. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	Interest payments in 2014 include $417 million related to the Settlement agreement
[3]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[4]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[5]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[6]	For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified on the Consolidated Statements of Comprehensive Income (Loss) in deferred pension items and unrealized losses on cash flow hedge derivative instruments. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[7]	In 2015, we recorded an out of period adjustment of $46 million related to excess tax benefits from the Settlement agreement. Refer to Note 16, “Income Taxes” of the notes to Consolidated Financial Statements for further details.

Divestitures and Acquisitions - Additional Information (Detail)
€ in Millions

3 Months Ended

12 Months Ended

Nov. 01, 2015

USD ($)

Nov. 01, 2015

EUR (€)

Apr. 02, 2015

USD ($)

Dec. 06, 2013

USD ($)

Dec. 31, 2015

USD ($)

Sep. 30, 2015

USD ($)

Jun. 30, 2015

USD ($)

Mar. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Sep. 30, 2014

USD ($)

Jun. 30, 2014

USD ($)

Mar. 31, 2014

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Nov. 02, 2015

USD ($)

Divestitures And Acquisitions Disclosure [Line Items]

$ 94,600,000

Net gain on sale of discontinued operations

$ 1,753,900,000

^[1]

$ 1,746,200,000

$ 1,785,000,000

$ 1,746,400,000

$ 1,973,700,000

$ 1,975,500,000

$ 1,973,600,000

$ 1,827,700,000

7,031,500,000

$ 7,750,500,000

$ 7,690,800,000

pre-tax income

425,900,000

267,200,000

180,200,000

22,900,000

Purchase price allocated to goodwill

2,909,500,000

2,996,900,000

^{[2],[3],[4],[5]}

2,909,500,000

2,996,900,000

^{[2],[3],[4],[5]}

19,700,000

Intellibot Robotics Limited Liability Company [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Purchase price of acquisition

18,000,000

Cash paid for acquisition

9,000,000

Fair value of contingent consideration

10,000,000

9,000,000

$ 10,000,000

Goodwill deductable for tax purpose

7,000,000

Fair value of identifiable net assets

$ 11,000,000

Rate of goodwill deductible for tax purpose

100.00%

Business acquisition contingent consideration payable period

10 years

Intellibot Robotics Limited Liability Company [Member] | Selling, General and Administrative Expenses [Member] | Maximum [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Change in fair value recognized in selling, general and administrative expense.

$ 1,000,000

B+ Equipment [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Purchase price of acquisition

19,000,000

Fair value of identifiable net assets

$ 15,000,000

Rate of goodwill deductible for tax purpose

0.00%

Percentage of acquired equity interest

100.00%

Divestitures And Acquisitions Disclosure [Line Items]

$ 6,000,000

Food Care [Member]

Purchase price allocated to goodwill

$ 7,000,000

European Food Trays Businesses [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Disposal date

Nov. 01, 2015

Purchase price adjustments

$ 18,000,000

€ 19

$ 2,000,000

€ 2

49,000,000

71,000,000

pre-tax income

$ 7,000,000

5,000,000

North American Foam Trays and Absorbent Pads [Member]

1,700,000

$ 1,500,000

Divestitures And Acquisitions Disclosure [Line Items]

Disposal date

Apr. 01, 2015

Purchase price adjustments

$ 76,000,000

6,000,000

Rigid Medical Packaging Business [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Disposal date

Dec. 06, 2013

Proceeds from Divestiture of Businesses, Net of Cash Divested

$ 125,000,000

$ 122,000,000

Pre-tax gain on the sale of operations

40,200,000

Net gain on sale of discontinued operations

$ 22,900,000

Disposal Group, Not Discontinued Operations [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Disposal Group, Not Discontinued Operations [Member] | European Food Trays Businesses [Member]

$ 6,900,000

6,900,000

Divestitures And Acquisitions Disclosure [Line Items]

Gain (loss) on sale of manufacturing facilities, pre-tax

$ (13,000,000)

Disposal Group, Not Discontinued Operations [Member] | North American Foam Trays and Absorbent Pads [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Gain (loss) on sale of manufacturing facilities, pre-tax

27,000,000

Inventories, net of inventory reserves of $21.9 in 2015 and $29.0 in 2014

53,000,000

214,000,000

pre-tax income

$ 10,000,000

$ 37,000,000

[1]	During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.
[2]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[3]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[5]	Excludes North American foam trays and absorbent pads and European food trays business goodwill. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Divestitures and Acquisitions - Carrying Value of Assets and Liabilities (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Nov. 02, 2015

Apr. 02, 2015

Dec. 31, 2014

ASSETS

$ 660.8

$ 688.5

^{[1],[2],[3],[4]}

930.7

943.0

^{[1],[2],[3],[5]}

2,909.5

2,996.9

^{[1],[2],[3],[6]}

10.3

106.4

^[1],[2],[3]

Other non-current assets

381.2

399.6

^[1],[2],[3]

Liabilities:

Other current liabilities

^[1],[2],[3]

13.0

789.7

889.9

^[1],[2],[3]

Long term debt

4,356.3

Other non-current liabilities

$ 714.1

704.1

^[1],[2],[3]

European Food Trays Businesses [Member]

ASSETS

Receivables, net

$ 0.2

0.2

Inventories, net of inventory reserves of $21.9 in 2015 and $29.0 in 2014

6.0

6.9

Other current assets

0.8

0.3

22.4

27.6

1.5

1.7

Other non-current assets

0.4

Other current liabilities

31.3

37.1

Liabilities:

Accounts payable

1.6

Accrued liabilities

2.1

4.2

0.6

0.5

Long term debt

0.4

0.6

Other non-current liabilities

0.1

Disposal Group, Not Discontinued Operations [Member]

$ 4.8

6.9

ASSETS

Other receivables

0.1

Inventories, net of inventory reserves of $21.9 in 2015 and $29.0 in 2014

$ 15.2

12.3

Prepaid expenses

0.1

22.6

6.9

44.8

42.0

Liabilities:

Accrued liabilities

2.7

6.1

$ 2.7

$ 6.1

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[4]	Excludes North American foam trays and absorbent pads and European food trays business inventory. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[5]	Excludes North American foam trays and absorbent pads and European food trays business property and equipment, net. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[6]	Excludes North American foam trays and absorbent pads and European food trays business goodwill. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Divestitures and Acquisitions - Schedule of Financial Information from Discontinued Operations (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net earnings from discontinued operations	$ 7.6
Net gain on sale of discontinued operations	22.9
Rigid Medical Packaging Business [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net sales	89.6
Operating profit	11.4
Earnings before income tax provision	11.1
Income tax provision	3.5
Net earnings from discontinued operations	7.6
Gain on sale of discontinued operations before income tax provision	40.2
Income tax provision on sale	17.3
Net gain on sale of discontinued operations	$ 22.9

Segments - Additional Information (Detail)	12 Months Ended
Segments - Additional Information (Detail)	Dec. 31, 2015 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

12 Months Ended

Dec. 31, 2015

^[1]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

$ 1,753.9

$ 1,746.2

$ 1,785.0

$ 1,746.4

$ 1,973.7

$ 1,975.5

$ 1,973.6

$ 1,827.7

$ 7,031.5

$ 7,750.5

$ 7,690.8

Non-U.S. GAAP Total Company Adjusted EBITDA

16.70%

14.40%

13.50%

$ 1,174.1

$ 1,118.3

$ 1,040.5

Operating Segments [Member]

6,944.7

7,663.4

7,585.0

Operating Segments [Member] | Food Care [Member]

1,242.7

1,207.9

1,118.3

3,405.1

3,835.3

3,814.2

$ 689.8

$ 670.2

$ 614.7

Operating Segments [Member] | Diversey Care [Member]

20.30%

17.50%

16.10%

$ 1,999.1

$ 2,173.1

$ 2,160.8

$ 231.9

$ 245.0

$ 237.3

Operating Segments [Member] | Product Care [Member]

11.60%

11.30%

11.00%

$ 1,540.5

$ 1,655.0

$ 1,610.0

$ 321.0

$ 292.7

$ 266.3

20.80%

17.70%

16.50%

Other [Member]

$ 86.8

$ 87.1

$ 105.8

Product Concentration Risk [Member] | Net Sales [Member] | Operating Segments [Member] | Food Care [Member]

$ (68.6)

$ (89.6)

$ (77.8)

Product Concentration Risk [Member] | Net Sales [Member] | Operating Segments [Member] | Diversey Care [Member]

48.40%

49.50%

49.60%

Product Concentration Risk [Member] | Net Sales [Member] | Operating Segments [Member] | Product Care [Member]

28.40%

28.00%

28.10%

21.90%

21.40%

20.90%

[1]	During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.

Segments - Reconciliation of Non-U.S. GAAP Adjusted EBITDA to U.S. GAAP Net Earnings (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Total Company Adjusted EBITDA

$ 1,174.1

$ 1,118.3

$ 1,040.5

Accelerated depreciation of non-strategic assets related to restructuring programs

(274.5)

(320.8)

(307.5)

Special items :

0.2

2.1

5.3

Other restructuring associated costs included in cost of sales and selling, general and administrative expenses

(78.3)

(65.7)

(73.8)

(42.9)

(35.8)

(26.6)

Development grant matter included in selling, general and administrative expenses

^[1],[2]

(14.0)

Termination of licensing agreement

(5.3)

Stock appreciation rights expense

(3.9)

(8.1)

(38.1)

Foreign currency exchange (loss) gains related to Venezuelan subsidiaries

^[1]

(5.7)

^[2]

(2.1)

(33.1)

(20.4)

(13.1)

Gain (loss) from Claims Settlement in 2014 and related costs

(110.0)

(102.5)

^[1],[2]

(36.3)

^[1]

21.1

(1.0)

Gain, net on sale of business

13.4

Non-operating charge for contingent guarantee included in other income (expense), net

(2.5)

Other special items

8.6

(5.8)

(6.1)

Interest expense

(227.7)

(287.7)

(361.0)

Net earnings from continuing operations

90.5

9.1

84.9

335.4

$ 258.1

^[1],[2]

$ 95.3

^[1]

North American Foam Trays and Absorbent Pads Business and European Food Trays Business [Member]

Special items :

Gain, net on sale of business

$ 13.4

[1]

[2]

Interest payments in 2014 include $417 million related to the Settlement agreement

Segments - Reconciliation of Non-U.S. GAAP Adjusted EBITDA to U.S. GAAP Net Earnings (Parenthetical) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Share-based incentive compensation

$ 274.5

$ 320.8

$ 307.5

^[1]

61.2

54.1

^[2],[3]

24.1

^[2]

Operating Segments [Member]

78.3

65.7

73.8

250.8

289.0

288.9

77.3

65.2

73.7

Other [Member]

23.7

31.8

18.6

Food Care [Member] | Operating Segments [Member]

1.0

0.5

0.1

107.9

121.3

118.4

Diversey Care [Member] | Operating Segments [Member]

37.9

27.3

25.1

105.5

126.3

132.3

Product Care [Member] | Operating Segments [Member]

22.2

24.3

32.2

37.4

41.4

38.2

Trade receivables, net, and finished goods inventories, net

$ 17.2

$ 13.6

$ 16.4

[1]	The amounts do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock as these contributions are not considered share-based incentive compensation.
[2]	For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Consolidated Balance Sheets for the years ended December 31, 2014 and 2013. As a result, corresponding changes were made on the Consolidated Statement of Cash Flows. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	Interest payments in 2014 include $417 million related to the Settlement agreement

Segments - Assets by Reportable Segments (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

^[4],[5]

Dec. 31, 2012

^[4]

$ 1,197.1

$ 1,485.8

358.4

286.4

^{[1],[2],[3],[4],[5]}

$ 992.4

$ 679.6

930.7

943.0

^{[1],[2],[3],[6]}

Operating Segments [Member] | Food Care [Member]

2,909.5

2,996.9

^{[1],[2],[3],[7]}

Intangible assets, net

784.3

872.2

^{[1],[2],[3],[8]}

Total assets

7,426.0

7,953.2

^[1],[2],[3]

Trade receivables, net, and finished goods inventories, net

522.4

678.2

Operating Segments [Member] | Diversey Care [Member]

596.3

603.1

^[7]

Trade receivables, net, and finished goods inventories, net

440.3

514.5

Operating Segments [Member] | Product Care [Member]

937.9

1,017.8

^[7]

Trade receivables, net, and finished goods inventories, net

219.6

279.1

Operating Segments [Member] | Other Segments [Member]

1,373.7

1,371.2

^[7]

Trade receivables, net, and finished goods inventories, net

Segment Reconciling Items [Member]

14.8

14.0

358.4

286.4

930.7

943.0

2,909.5

2,996.9

Intangible assets, net

784.3

872.2

10.3

106.4

Other

1,235.7

1,262.5

Total assets

$ 7,426.0

$ 7,953.2

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[4]	For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Consolidated Balance Sheets for the years ended December 31, 2014 and 2013. As a result, corresponding changes were made on the Consolidated Statement of Cash Flows. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[5]	Interest payments in 2014 include $417 million related to the Settlement agreement
[6]	Excludes North American foam trays and absorbent pads and European food trays business property and equipment, net. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[7]	Excludes North American foam trays and absorbent pads and European food trays business goodwill. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[8]	Excludes North American foam trays and absorbent pads business intangible assets. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Segments - Geographic Information (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

$ 1,753.9

^[1]

$ 1,746.2

$ 1,785.0

$ 1,746.4

$ 1,973.7

$ 1,975.5

$ 1,973.6

$ 1,827.7

$ 7,031.5

$ 7,750.5

$ 7,690.8

1,311.9

1,316.1

1,311.9

1,316.1

North America [Member]

^[2]

2,923.2

3,071.9

3,004.9

616.5

542.5

616.5

542.5

EMEA [Member]

^[3]

2,410.4

2,783.2

2,770.7

377.3

413.2

377.3

413.2

Latin America [Member]

695.8

807.5

840.7

127.0

143.6

127.0

143.6

APAC [Member]

1,002.1

1,087.9

$ 1,074.5

Entity Wide Information Revenue From External Customer [Line Items]

$ 191.1

$ 216.8

$ 191.1

$ 216.8

[1]	During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.
[2]	Net sales to external customers within the U.S. were $2,685.3 million for the year ended December 31, 2015, $2,797.5 million for the year ended December 31, 2014 and $2,724.5 million for the year ended December 31, 2013.
[3]	As previously announced, the Company underwent a reorganization of its AMAT region. This reorganization involved transitioning the previously reported AMAT region to an Asia Pacific (APAC) region, which now includes Asia, Australia, New Zealand and moving the Middle East, Africa and Turkey countries into the Company’s existing European regional organization, now referred to as EMEA. This took effect beginning in the second quarter of 2015.

Segments - Geographic Information (Parenthetical) (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Maximum percentage of net sales in any one non-U.S. country

10.00%

Maximum percentage of long-lived assets in any one non-U.S. country

10.00%

Entity Wide Information Revenue From External Customer [Line Items]

$ 1,753.9

^[1]

$ 1,746.2

$ 1,785.0

$ 1,746.4

$ 1,973.7

$ 1,975.5

$ 1,973.6

$ 1,827.7

$ 7,031.5

$ 7,750.5

$ 7,690.8

U.S.program

Property Plant And Equipment Net [Abstract]

$ 2,685.3

$ 2,797.5

$ 2,724.5

[1]	During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.

Inventories - Inventories (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

^[1]

Inventory Disclosure [Abstract]

Raw materials

$ 109.6

$ 103.9

Work in process

112.4

100.7

Finished goods

438.8

483.9

Total

$ 660.8

$ 688.5

^[2],[3],[4]

[1]	Excludes North American foam trays and absorbent pads and European food trays business inventory. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[2]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[3]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

^[1]

Land and improvements

$ 86.7

$ 98.6

Buildings

602.0

636.0

Machinery and equipment

2,141.3

2,195.9

Other property and equipment

129.1

140.0

Construction-in-progress

190.7

109.0

Property and equipment, gross

3,149.8

3,179.5

Accumulated depreciation and amortization

(2,219.1)

(2,236.5)

$ 930.7

$ 943.0

^[2],[3],[4]

[1]	Excludes North American foam trays and absorbent pads and European food trays business property and equipment, net. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[2]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[3]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Property and Equipment, net - Interest Cost Capitalized and Depreciation and Amortization Expense for Property and Equipment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property Plant And Equipment [Abstract]
Interest cost capitalized	$ 5.4	$ 6.2	$ 4.9
Depreciation and amortization expense for property and equipment	$ 124.6	$ 147.8	$ 160.2

Goodwill and Identifiable Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Indefinite Lived Intangible Assets By Major Class [Line Items]
Number of steps for goodwill impairment test	Two
Goodwill impairment loss	$ 0.0
Amortization expense of intangible assets acquired	88.7	$ 118.9	$ 123.2
Trademarks [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite-lived intangible Assets (excluding goodwill)	$ 251.0

Goodwill and Identifiable Intangible Assets - Summary of Goodwill Balances by Segment Reporting Structure (Detail)
$ in Millions

12 Months Ended

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

$ 4,087.9

^[1]

Accumulated impairment

(1,091.0)

$ (1,091.0)

Operating Segments [Member] | Food Care [Member]

2,909.5

2,996.9

^{[1],[2],[3],[4]}

19.7

(3.1)

(104.0)

4,000.5

811.1

^[1]

Accumulated impairment

(208.0)

Operating Segments [Member] | Diversey Care [Member]

596.3

603.1

^[1]

6.7

3.2

(16.7)

804.3

1,900.8

^[1]

Accumulated impairment

(883.0)

937.9

1,017.8

^[1]

Acquisition

6.7

Currency translation

(86.6)

Operating Segments [Member] | Product Care [Member]

1,820.9

1,371.2

^[1]

1,373.7

1,371.2

^[1]

6.3

(3.1)

(0.7)

1,373.7

4.8

^[1],[5]

1.6

^[5]

$ 4.8

^[1],[5]

Other

(3.2)

^[5]

Food Care - Packaging Solutions [Member]

$ 1.6

^[5]

[1]	Excludes North American foam trays and absorbent pads and European food trays business goodwill. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[2]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[3]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[5]	Represents goodwill of our Medical Applications reporting unit.

Goodwill and Identifiable Intangible Assets - Summary of Percentage by Which Estimated Fair Value Exceeds Carrying Value (Detail)

Dec. 31, 2015

Percentage of estimated fair value exceeding carrying value

410.00%

Food Care - Hygiene Solutions [Member]

Percentage of estimated fair value exceeding carrying value

488.00%

Diversey Care [Member]

Percentage of estimated fair value exceeding carrying value

55.00%

Product Care [Member]

Percentage of estimated fair value exceeding carrying value

121.00%

Medical Applications [Member]

Percentage of estimated fair value exceeding carrying value

819.00%

^[1]

[1]	Included in the “Other” category for segment reporting purposes – See Note 4 for a description of our reportable segments.

Goodwill and Identifiable Intangible Assets - Summary of Identifiable Intangible Assets with Definite and Indefinite Useful Lives (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

^[1]

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

$ 1,175.6

$ 1,199.1

Intangible assets with definite life, Accumulated Amortization

(471.3)

(406.9)

Intangible assets with definite life, Accumulated Impairment

(171.1)

533.2

621.1

Trademarks and tradenames with indefinite lives [Member]

2,056.9

2,080.4

Accumulated Impairment

(801.3)

Net

784.3

872.2

^[2],[3],[4]

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with indefinite life, Gross Carrying Value

^[5]

881.3

Intangible assets with indefinite life, Accumulated Impairment

^[5]

(630.2)

Intangible assets with indefinite life, Net

^[5]

251.1

Customer relationships [Member]

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

846.2

890.8

Intangible assets with definite life, Accumulated Amortization

(249.4)

(210.8)

Intangible assets with definite life, Accumulated Impairment

(148.9)

Trademarks and tradenames [Member]

447.9

531.1

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

1.7

1.3

Intangible assets with definite life, Accumulated Amortization

(0.4)

(0.2)

Capitalized software [Member]

1.3

1.1

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

143.0

140.7

Intangible assets with definite life, Accumulated Amortization

(125.3)

(113.8)

Finite And Infinite Lived Intangible Assets [Line Items]

17.7

26.9

Technology

Intangible assets with definite life, Gross Carrying Value

141.9

125.7

Intangible assets with definite life, Accumulated Amortization

(65.0)

(53.2)

Intangible assets with definite life, Accumulated Impairment

(22.2)

Finite And Infinite Lived Intangible Assets [Line Items]

54.7

50.3

Customer Contracts

Intangible assets with definite life, Gross Carrying Value

42.8

40.6

Intangible assets with definite life, Accumulated Amortization

(31.2)

(28.9)

Goodwill And Intangible Assets Disclosure [Abstract]

$ 11.6

$ 11.7

[1]	Excludes North American foam trays and absorbent pads business intangible assets. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[2]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[3]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[5]	The intangible assets include $251 million of trademarks that we have determined to have indefinite useful lives, primarily acquired in connection with the acquisition of Diversey.

Goodwill and Identifiable Intangible Assets - Remaining Estimated Future Amortization Expense (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

^[1]

$ 83.4

76.9

63.9

56.3

252.7

$ 533.2

$ 621.1

[1]	Excludes North American foam trays and absorbent pads business intangible assets. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Goodwill and Identifiable Intangible Assets - Remaining Weighted Average Useful Life of Definite Lived Intangible Assets (Detail)	12 Months Ended
	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	8 years 1 month 6 days
Customer relationships [Member]
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	8 years 9 months 18 days
Trademarks and tradenames [Member]
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	5 years 8 months 12 days
Technology
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	4 years
Customer Contracts
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	5 years 7 months 6 days

Accounts Receivable Securitization Programs - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015 USD ($) Bank	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2015 EUR (€)	Dec. 31, 2014 EUR (€)
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Number of banks involved in sale of fractional ownership interest of accounts receivable \| Bank	2
Interest expenses	$ 227,700,000	$ 287,700,000	$ 361,000,000
U.S. Accounts Receivable Securitization Program [Member]
Qualitative And Quantitative Information Transferors Continuing Involvement [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	$ 90,000,000
Level of eligible assets available under accounts receivable securitization program	less than $90 million
Amount available for accounts receivable securitization program before utilization	$ 72,000,000
Accounts receivable extended past the expiration date	Sep. 30, 2015
U.S. Accounts Receivable Securitization Program [Member] \| U.S.program
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Amount utilized under accounts receivable securitization program	$ 67,000,000	$ 36,000,000
U.S. Accounts Receivable Securitization Program [Member] \| Maximum [Member]
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Interest expenses	$ 1,000,000
European Accounts Receivable Securitization Program [Member]
Qualitative And Quantitative Information Transferors Continuing Involvement [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	$ 120,000,000			€ 110,000,000
Amount available for accounts receivable securitization program before utilization	$ 120,000,000			110,000,000
Accounts receivable expiration date	2016-02
European Accounts Receivable Securitization Program [Member] \| Europe [Member]
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Amount utilized under accounts receivable securitization program	$ 77,000,000			€ 70,000,000	€ 0

Restructuring and Relocation Activities - Restructuring Activities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restructuring Cost And Reserve [Line Items]
Other associated costs	$ 42.9	$ 35.8	$ 26.6
Restructuring charges	78.3	65.7	73.8
Total	121.2	101.5	100.4
IOP [Member]
Restructuring Cost And Reserve [Line Items]
Other associated costs	4.6	7.7	14.1
Restructuring charges	0.6	13.2	(7.0)
Total	5.2	20.9	7.1
EQIP [Member]
Restructuring Cost And Reserve [Line Items]
Other associated costs	9.1	25.7	12.5
Restructuring charges	0.1	47.0	80.8
Total	9.2	72.7	$ 93.3
FUSION [Member]
Restructuring Cost And Reserve [Line Items]
Other associated costs	29.2	2.4
Restructuring charges	77.6	5.5
Total	$ 106.8	$ 7.9

Restructuring and Relocation Activities - Additional Information (Detail)
$ in Millions

1 Months Ended

12 Months Ended

Jul. 23, 2014

USD ($)

Jobs

Jan. 31, 2015

USD ($)

Dec. 31, 2015

USD ($)

Employees

Dec. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

$ 98.3

$ 108.1

^[1],[2]

$ 107.0

^[1]

FUSION [Member]

Number of Jobs relocated from Elmwood park to Charlotte | Jobs

Jobs relocation period

3 years

1,300

Start date when restructuring costs are to be incurred, year

2015

End date when restructuring costs are to be incurred, year

2017

Date when capital expenditures are to be incurred, year

2016

Accrual and accrual adjustments

$ 13.0

Restructuring expected accrual to pay

51.0

40.0

Restructuring expected accrual remaining to pay

23.0

FUSION [Member] | Racine,Wisconsin [Member]

45.0

0.0

Property, plant and equipment to assets held for sale

26.0

Assets held for sale, sales price

$ 30.0

Proceeds from assets held for sale

24.0

Unsecured promissory note receivable from disposal of assets held for sale

6.0

Pre-tax gain on disposal of assets held for sale

$ 3.0

FUSION [Member] | Minimum [Member]

Expected net cash cost related to restructuring

395.0

330.0

Capital expenditures related to restructuring and associated activities

190.0

FUSION [Member] | Maximum [Member]

Expected net cash cost related to restructuring

405.0

340.0

Capital expenditures related to restructuring and associated activities

200.0

EQIP [Member]

Accrual and accrual adjustments

(13.0)

Restructuring expected accrual to pay

152.0

9.0

Expected completed date of restructuring program

$ 6.0

28.0

11.0

Dec. 31, 2016

EQIP [Member] | Minimum [Member]

Capital expenditures related to restructuring and associated activities

$ 190.0

$ 40.0

Reduction in headcount, employees | Employees

750

EQIP [Member] | Maximum [Member]

Capital expenditures related to restructuring and associated activities

$ 210.0

$ 45.0

Reduction in headcount, employees | Employees

900

IOP [Member]

Restructuring expected accrual to pay

$ 233.0

4.0

IOP [Member] | Maximum [Member]

1.0

$ 14.0

Building Cost Of Charlotte Campus | FUSION [Member]

$ 1.0

Severance and Termination Benefits [Member] | FUSION [Member] | Minimum [Member]

$ 120.0

Severance and Termination Benefits [Member] | FUSION [Member] | Maximum [Member]

115.0

Severance and Termination Benefits [Member] | EQIP [Member] | Minimum [Member]

120.0

Severance and Termination Benefits [Member] | EQIP [Member] | Maximum [Member]

110.0

Other Restructuring [Member] | FUSION [Member] | Minimum [Member]

120.0

Other Restructuring [Member] | FUSION [Member] | Maximum [Member]

280.0

Facility Relocation and Closures [Member] | EQIP [Member] | Minimum [Member]

285.0

Facility Relocation and Closures [Member] | EQIP [Member] | Maximum [Member]

80.0

Accrued salaries, wages and related costs

$ 90.0

[1]

[2]

Interest payments in 2014 include $417 million related to the Settlement agreement

Restructuring and Relocation Activities - Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
FUSION [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring accrual at December 31, 2014	$ 5.5
Accrual and accrual adjustments	77.6
Cash payments during 2015	(18.6)
Effect of changes in foreign currency exchange rates	(1.6)
Restructuring accrual at December 31, 2015	62.9
EQIP [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring accrual at December 31, 2014	41.9
Accrual and accrual adjustments	0.1
Cash payments during 2015	(28.9)
Effect of changes in foreign currency exchange rates	(4.0)
Restructuring accrual at December 31, 2015	9.1
IOP [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring accrual at December 31, 2014	13.1
Accrual and accrual adjustments	0.6
Cash payments during 2015	(8.5)
Effect of changes in foreign currency exchange rates	(0.9)
Restructuring accrual at December 31, 2015	$ 4.3

Other Current and Non-Current Liabilities - Components of Other Current and Other Non-Current Liabilities (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

Other current liabilities:

$ 288.4

$ 324.2

Accrued operating expenses

240.6

292.9

Income taxes payable

49.7

38.1

Accrued customer volume rebates

165.6

180.1

Accrued interest

38.8

46.0

Accrued employee benefit liability

6.6

8.6

Total

789.7

889.9

^[1],[2],[3]

Other non-current liabilities:

Accrued employee benefit liability

378.1

347.6

Other postretirement liability

62.2

77.4

Other various liabilities

273.8

279.1

Total

$ 714.1

$ 704.1

^[1],[2],[3]

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Debt and Credit Facilities - Total Debt Outstanding (Detail)
€ in Millions, $ in Millions

Dec. 31, 2015

USD ($)

Jun. 30, 2015

USD ($)

Jun. 30, 2015

EUR (€)

Dec. 31, 2014

USD ($)

Current portion of long-term debt

$ 241.9

$ 143.3

^[1],[2],[3]

46.6

1.0

^[1],[2],[3]

Total current debt

288.5

144.3

Other

3.8

1.1

Total long-term debt, less current portion

4,302.7

4,282.0

^[1],[2],[3]

Total debt

4,591.2

4,426.3

Term Loan A Due July 2017 [Member]

Credit facility amount outstanding

249.8

249.7

Term Loan A Due July 2019 [Member]

Credit facility amount outstanding

1,060.5

1,129.4

8.375% Senior Notes Due September 2021 [Member]

427.6

428.1

4.875% Senior Notes due December 2022 [Member]

750.0

5.25% Senior Notes Due April 2023 [Member]

425.0

425.0

5.125% Senior Notes due December 2024 [Member]

437.3

€ 400

5.50% Senior Notes due September 2025 [Member]

425.0

6.875% Senior Notes Due July 2033 [Member]

400.0

$ 400.0

$ 448.7

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Debt and Credit Facilities - Total Debt Outstanding (Parenthetical) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Jun. 30, 2015

Cash held on deposit as compensating balance

$ 241.9

$ 143.3

^[1],[2],[3]

$ 56.0

$ 36.2

Short-term Debt, Weighted Average Interest Rate

3.40%

6.10%

Long-term Debt, Weighted Average Interest Rate

4.60%

5.20%

U.S. Accounts Receivable Securitization Program [Member]

European Accounts Receivable Securitization Program [Member]

$ 67.0

$ 36.0

Revolving Credit Facility [Member]

77.0

23.0

Line of Credit [Member]

Term Loan A Due July 2017 [Member]

98.0

84.0

Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Consumer

$ 0.2

$ 0.3

Debt maturity month and year, Term loan

2017-07

Term Loan A Due July 2019 [Member]

Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Consumer

$ 8.1

$ 10.6

Debt maturity month and year, Term loan

2019-07

Term loan facilities, prepayment due year

2016

6.50%

8.375% Senior Notes Due September 2021 [Member]

2020-12

8.375%

4.875% Senior Notes due December 2022 [Member]

2021-09

4.875%

5.25% Senior Notes Due April 2023 [Member]

2022-12

5.25%

2023-04

4.50%

5.125% Senior Notes due December 2024 [Member]

2023-09

5.125%

5.50% Senior Notes due September 2025 [Member]

2024-12

5.50%

6.875% Senior Notes Due July 2033 [Member]

2025-09

6.875%

2033-07

Unamortized discount

$ 1.3

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Debt and Credit Facilities - Additional Information (Detail)

1 Months Ended

3 Months Ended

12 Months Ended

Jul. 25, 2014

USD ($)

Nov. 30, 2013

USD ($)

Jun. 30, 2015

USD ($)

Dec. 31, 2014

USD ($)

Mar. 31, 2013

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Jun. 30, 2015

EUR (€)

Aug. 29, 2014

USD ($)

Nov. 30, 2013

EUR (€)

Jun. 01, 2017

$ 110,000,000

$ 102,500,000

^[1],[2]

$ 36,300,000

^[1]

Decrease in interest margin

5,000,000

0.75%

Lender fees

$ 2,000,000

Term period of credit facility

5 years

Decrease in euro currency rate under the term loan B facilities

1.00%

Minimum [Member]

Decrease in euro currency rate under the term loan B facilities

0.75%

Line Of Credit Facility Second Amended [Member]

Credit facility agreement 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 facility of $700 million, (ii) a new $100 million delayed draw Term Loan A facility (used for our Brazilian operations), (iii) a 0.75% reduction of the interest rate margin for the Term Loan A facility and revolving credit facilities, (iv) extension of the final maturity of the Term Loan A facilities and revolving credit facility 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

Line Of Credit Facility Second Amended [Member]

$ 18,000,000

13,000,000

Revolving Credit Facility [Member] | Line Of Credit Facility Second Amended [Member]

$ 5,000,000

Credit facility amount outstanding

$ 700,000,000

Gain on termination of interest rate swap

6.50%

$ 3,000,000

5.25% Senior Notes Due April 2023 [Member]

5.25%

7.875% Senior Notes Due June 2017 [Member]

$ 425,000,000

Aggregate repurchase price of senior notes

7.875%

$ 431,000,000

Premium paid on redemption of debt

23,000,000

Accrued interest paid on redemption of debt

8,000,000

Premium paid on redemption of debt percentage

32,000,000

Early redemption

$ 400,000,000

6.00%

Term Loan A Facility [Member] | Line Of Credit Facility Second Amended [Member]

Jul. 25, 2019

Decrease in interest margin

$ 1,330,000,000

0.75%

Delayed Draw Term Loan A Facility [Member]

Notional amount of outstanding interest rate swaps

$ 100,000,000

Delayed Draw Term Loan A Facility [Member] | Line Of Credit Facility Second Amended [Member]

Delayed Draw Term Loan A Facility

$ 100,000,000

Notional amount of outstanding interest rate swaps

$ 100,000,000

$ 100,000,000

Line of Credit Secured Debt

Term Loan B Facility [Member]

$ 10,000,000

Percentage of prepayment term loan

$ 4,000,000

1.00%

Prepaid debt

$ 101,000,000

Refinance of the remaining principal amount of term loan

$ 697,000,000

Percentage of principal debt refinanced

100.00%

5.50% Senior Notes due September 2025 [Member]

Sep. 15, 2025

$ 400,000,000

5.50%

$ 8,000,000

Sep. 15, 2023

$ 437,300,000

€ 400,000,000

4.50%

8.375% Senior Notes Due September 2021 [Member]

$ 8,000,000

Sep. 01, 2021

$ 750,000,000

Aggregate repurchase price of senior notes

8.375%

$ 866,000,000

Repurchased debt principal amount

750,000,000

Premium paid on redemption of debt

99,000,000

Accrued interest paid on redemption of debt

17,000,000

111,000,000

4.875% Senior Notes due December 2022 [Member]

$ 11,000,000

Dec. 01, 2022

$ 425,000,000

4.875%

5.125% Senior Notes due December 2024 [Member]

$ 13,000,000

Dec. 01, 2024

$ 425,000,000

5.125%

8.125% Senior Notes Due September 2019 [Member]

$ 13,000,000

Sep. 01, 2019

$ 750,000,000

Aggregate repurchase price of senior notes

8.125%

$ 837,000,000

Premium paid on redemption of debt

75,000,000

Accrued interest paid on redemption of debt

12,000,000

84,000,000

Dollar-denominated | Term Loan B Facility Due October 2018 [Member]

9,000,000

Early redemption

$ 750,000,000

Euro-denominated | Term Loan B Facility Due October 2018 [Member]

Line of Credit Facility

$ 525,000,000

Line of Credit Facility | €

€ 128,000,000

[1]

[2]

Interest payments in 2014 include $417 million related to the Settlement agreement

Debt and Credit Facilities - Lines of Credit (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

Debt Disclosure [Abstract]

Used lines of credit

$ 241.9

$ 143.3

^[1],[2],[3]

Unused lines of credit

1,039.9

1,108.8

Total available lines of credit

$ 1,281.8

$ 1,252.1

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Debt and Credit Facilities - Lines of Credit (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Line Of Credit Facility [Line Items]
Cash held on deposit as compensating balance	$ 56.0	$ 36.2
Total available lines of credit	1,281.8	$ 1,252.1
Committed Line of Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Total available lines of credit	$ 892.0

Debt and Credit Facilities - Scheduled Annual Maturities for Next Five Years and Thereafter (Detail) $ in Millions	Dec. 31, 2015 USD ($)
Debt Disclosure [Abstract]
2016	$ 46.6
2017	322.1
2018	71.9
2019	928.1
2020	425.3
Thereafter	2,562.3
Total	$ 4,356.3

Derivatives and Hedging Activities - Additional Information (Detail)

3 Months Ended

12 Months Ended

Dec. 31, 2014

USD ($)

Derivative

Dec. 31, 2015

USD ($)

Derivative

Dec. 31, 2014

USD ($)

Derivative

Dec. 31, 2013

USD ($)

Jun. 30, 2015

EUR (€)

Mar. 31, 2015

USD ($)

Other comprehensive income unrealized gain (loss) arising during period net of tax

$ 3,800,000

$ 2,600,000

$ 2,200,000

Number of derivative instruments outstanding | Derivative

Cumulative translation adjustment after tax

$ (369,900,000)

^[1],[2],[3]

$ (564,000,000)

$ (369,900,000)

^[1],[2],[3]

Delayed Draw Term Loan A Facility [Member]

Notional amount of outstanding derivative

$ 100,000,000

Gain on termination of interest rate swap

6.50%

$ 3,000,000

Designated as Hedging Instruments [Member]

4.50%

Reduction of interest expense due to interest rate swap

$ 2,000,000

Designated as Hedging Instruments [Member] | Maximum [Member]

Reduction of interest expense due to interest rate swap

1,000,000

Foreign Currency Forward Contracts [Member] | Net Investment Hedge [Member]

Notional amount of outstanding derivative | €

€ 270,000,000

Derivative foreign exchange expiration date

2015-06

Cumulative translation adjustment before tax

$ (3,500,000)

Cumulative translation adjustment after tax

$ (2,200,000)

Foreign Currency Forward Contracts [Member] | Designated as Hedging Instruments [Member]

Maximum original maturity period of foreign currency forward contracts

12 months

Other comprehensive income unrealized gain (loss) arising during period net of tax

$ 5,900,000

3,800,000

$ 2,600,000

Net unrealized derivative gain (losses) included in AOCI to be reclassified into earnings in next twelve months

$ 5,900,000

Foreign Currency Forward Contracts [Member] | Not Designated as Hedging Instruments [Member]

Maximum original maturity period of foreign currency forward contracts

12 months

Interest Rate and Currency Swap [Member]

Notional amount of outstanding derivative

$ 100,000,000

EUR - Denominated debt [Member] | 4.50% Senior Notes due September 2023 [Member] | Net Investment Hedge [Member]

Debt instrument face amount | €

4.50%

€ 400,000,000

EUR - Denominated debt [Member] | Designated as Hedging Instruments [Member] | Net Investment Hedge [Member]

Fair Value of (Liability) Derivatives

$ (12,400,000)

Fair value of (liability) derivatives, after tax

(7,600,000)

Cross-Currency Swaps [Member] | Net Investment Hedge [Member]

Notional amount of outstanding derivative

$ 425,000,000

Cross-Currency Swaps [Member] | Designated as Hedging Instruments [Member] | Net Investment Hedge [Member]

Fair Value of (Liability) Derivatives

(12,000,000)

Fair value of (liability) derivatives, after tax

(7,400,000)

Semi-annual interest settlement resulted in AOCI

5,900,000

Semi-annual interest settlement resulted in AOCI after tax

$ 3,600,000

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	$ 72.2	$ 63.4
Total Derivative Liabilities	(56.8)	(68.0)
Net Derivatives	15.4	(4.6)
Not Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	25.0	41.3
Total Derivative Liabilities	(43.5)	(67.6)
Net Derivatives	(18.5)	(26.3)
Foreign Currency Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	28.2	45.6
Total Derivative Liabilities	(44.8)	(68.0)
Foreign Currency Forward Contracts [Member] \| Not Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	25.0	41.3
Total Derivative Liabilities	(43.5)	(67.6)
Interest Rate and Currency Swap [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	44.0	17.8
Cross-Currency Swaps [Member]
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	(12.0)
Cash Flow Hedge [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	47.2	22.1
Total Derivative Liabilities	(1.3)	(0.4)
Net Derivatives	45.9	21.7
Cash Flow Hedge [Member] \| Foreign Currency Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	3.2	4.3
Total Derivative Liabilities	(1.3)	(0.4)
Cash Flow Hedge [Member] \| Interest Rate and Currency Swap [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	44.0	$ 17.8
Net Investment Hedge [Member]
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	(12.0)
Net Derivatives	(12.0)
Net Investment Hedge [Member] \| Cross-Currency Swaps [Member]
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	$ (12.0)

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Parenthetical) (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

Long-term debt, less current portion

$ 4,302.7

$ 4,282.0

^[1],[2],[3]

72.2

63.4

Other Current Assets [Member]

(56.8)

(68.0)

36.2

34.3

Net amounts recognized on the Consolidated Balance Sheet

(24.1)

(25.2)

12.1

9.1

Other Non-current Assets [Member]

36.0

27.1

Net amounts recognized on the Consolidated Balance Sheet

(9.3)

36.0

17.8

Other Current Liabilities [Member]

(44.8)

(48.8)

Net amounts recognized on the Consolidated Balance Sheet

24.1

25.2

(20.7)

(23.6)

Other Non-current Liabilities [Member]

(12.0)

(17.2)

Net amounts recognized on the Consolidated Balance Sheet

9.3

(12.0)

(7.9)

Foreign Currency Forward Contracts [Member]

28.2

45.6

Foreign Currency Forward Contracts [Member] | Designated as Hedging Instruments [Member]

(44.8)

$ (68.0)

Long-term debt, less current portion

$ 437.3

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Derivatives and Hedging Activities - Effect of Derivative Instruments on Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 79.0	$ 17.7	$ (5.7)
Designated as Hedging Instruments [Member] \| Cash Flow Hedge [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	46.6	15.5	2.8
Designated as Hedging Instruments [Member] \| Cash Flow Hedge [Member] \| Foreign Currency Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	9.6	1.9	2.7
Designated as Hedging Instruments [Member] \| Cash Flow Hedge [Member] \| Interest Rate and Currency Swap [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	36.9	13.5
Designated as Hedging Instruments [Member] \| Cash Flow Hedge [Member] \| Treasury Lock [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	0.1	0.1	0.1
Designated as Hedging Instruments [Member] \| Fair Value Hedges [Member] \| Interest Rate Swaps [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	0.4	1.8
Not Designated as Hedging Instruments [Member] \| Foreign Currency Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ 32.0	$ 0.4	$ (8.5)

Derivatives and Hedging Activities - Effect of Derivative Instruments on Condensed Consolidated Statements of Operations (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments Gain Loss [Line Items]
Interest expenses	$ 227.7	$ 287.7	$ 361.0
Interest Rate and Currency Swap [Member] \| Designated as Hedging Instruments [Member]
Derivative Instruments Gain Loss [Line Items]
Gain on interest rate and currency swaps	42.9	16.5
Interest expenses	$ 6.0	$ 3.0

Fair Value Measurements and Other Financial Instruments - Fair Value Hierarchy of Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 56.3	$ 28.5
Compensating balance deposits	56.5	36.2
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	48.3	23.2
Compensating balance deposits	56.5	36.2
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	8.0	5.3
Foreign Currency Forward Contracts [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	(16.5)	(22.4)
Foreign Currency Forward Contracts [Member] \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	(16.5)	(22.4)
Interest Rate and Currency Swap [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	44.0	17.8
Interest Rate and Currency Swap [Member] \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	44.0	$ 17.8
Cross-Currency Swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	(12.0)
Cross-Currency Swaps [Member] \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	$ (12.0)

Fair Value Measurements and Other Financial Instruments - Fair Value Hierarchy of Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Reclassification of cash to other current and non-current assets	$ 56.0	$ 36.2
Bank Time Deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Reclassification from level 2 to level 1		$ 23.2

Fair Value Measurements and Other Financial Instruments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Certificates of deposits maturity period	3 months

Fair Value Measurements and Other Financial Instruments - Carrying Amounts and Estimated Fair Values of Debt (Detail) € in Millions, $ in Millions	Dec. 31, 2015 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2015 EUR (€)	Dec. 31, 2014 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other foreign loans, Carrying Amount	$ 165.7			$ 73.9
Other foreign loans, Fair Value	165.8			73.8
Other domestic loans, Carrying Amount	81.7			71.5
Other domestic loans, Fair Value	81.9			71.5
Total debt, Carrying Amount	4,591.2			4,426.3
Total debt, Fair Value	4,692.5			4,581.7
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	427.6			428.1
Senior Notes, Fair Value	473.7			469.7
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
Senior Notes, Fair Value				843.3
4.875% Senior Notes due December 2022 [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	426.5			423.3
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	436.2			429.6
4.50% Senior Notes due September 2023 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes, Carrying Amount	437.3		€ 400
Senior Notes, Fair Value	452.7
5.125% Senior Notes due December 2024 [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	427.6			428.5
5.50% Senior Notes due September 2025 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Senior Notes, Carrying Amount	400.0	$ 400.0
Senior Notes, Fair Value	410.2
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	448.7			448.7
Senior Notes, Fair Value	462.7			462.9
Term Loan A Due July 2017 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Credit Facility, Carrying Amount	249.8			249.7
Credit Facility, Fair Value	249.8			249.7
Term Loan A Due July 2019 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Credit Facility, Carrying Amount	1,105.4			1,129.4
Credit Facility, Fair Value	$ 1,105.4			$ 1,129.4

Fair Value Measurements and Other Financial Instruments - Carrying Amounts and Estimated Fair Values of Debt (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Term Loan A Due July 2017 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt maturity month and year, Term loan	2017-07	2017-07
Term Loan A Due July 2019 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt maturity month and year, Term loan	2019-07	2019-07
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%
Debt maturity month and year, Senior notes	2020-12	2020-12
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%	8.375%
Debt maturity month and year, Senior notes	2021-09	2021-09
4.875% Senior Notes due December 2022 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	4.875%	4.875%
Debt maturity month and year, Senior notes	2022-12	2022-12
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%
Debt maturity month and year, Senior notes	2023-04	2023-04
4.50% Senior Notes due September 2023 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	4.50%	4.50%	4.50%
Debt maturity month and year, Senior notes	2023-09	2023-09
5.125% Senior Notes due December 2024 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	5.125%	5.125%
Debt maturity month and year, Senior notes	2024-12	2024-12
5.50% Senior Notes due September 2025 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt interest rate	5.50%	5.50%	5.50%
Debt maturity month and year, Senior notes	2025-09	2025-09
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%
Debt maturity month and year, Senior notes	2033-07	2033-07

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Additional Information (Detail) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Provisions charged from operations for the profit sharing plan and retirement savings plans	$ 55,000,000	$ 50,000,000	$ 51,000,000
Contribution of common stock to profit sharing plan	0.8	1.0	0.9
Defined benefit pension plan corridor rate	10.00%
Minimum benefit obligation to apply new computation method	$ 50,000,000
Estimated reduction in service cost and interest cost	$ 4,000,000
Percentage of equity allocation, maximum	70.00%
Percentage of fixed income allocation, minimum	30.00%
Equity Security [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity securities, minimum	40.00%
Equity securities, maximum	50.00%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Equity securities, minimum	50.00%
Equity securities, maximum	60.00%

Profit Sharing Retirement Savings Plans and Defined Benefit Pension Plans - Schedule of Components of Net Periodic Benefit Cost (Income) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost (income)	$ 10.2	$ 16.2	$ 17.0
Service cost	11.3	10.0	12.3
Interest cost	37.6	48.0	43.4
Expected return on plan assets	(50.7)	(54.1)	(49.2)
Amortization of net prior service cost	0.1	0.1	0.4
Amortization of net actuarial loss	10.7	9.9	10.0
Net periodic benefit cost (income)	9.0	13.9	16.9
Cost (income) of settlement/curtailment	1.2	2.3	0.1
Total benefit cost (income)	10.2	16.2	17.0
U.S. and International [Member] \| Cost of Sales [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost (income)	(0.5)	5.6	5.8
Total benefit cost (income)	(0.5)	5.6	5.8
U.S. and International [Member] \| Selling, General and Administrative Expenses [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost (income)	10.7	10.6	11.2
Total benefit cost (income)	10.7	10.6	11.2
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost (income)	1.3	(0.6)	(0.2)
Service cost	0.7	1.1	1.3
Interest cost	8.6	8.7	7.9
Expected return on plan assets	(11.4)	(11.2)	(11.1)
Amortization of net prior service cost			0.2
Amortization of net actuarial loss	1.8	0.8	2.2
Net periodic benefit cost (income)	(0.3)	(0.6)	0.5
Cost (income) of settlement/curtailment	1.6		(0.7)
Total benefit cost (income)	1.3	(0.6)	(0.2)
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost (income)	8.9	16.8	17.2
Service cost	10.6	8.9	11.0
Interest cost	29.0	39.3	35.5
Expected return on plan assets	(39.3)	(42.9)	(38.1)
Amortization of net prior service cost	0.1	0.1	0.2
Amortization of net actuarial loss	8.9	9.1	7.8
Net periodic benefit cost (income)	9.3	14.5	16.4
Cost (income) of settlement/curtailment	(0.4)	2.3	0.8
Total benefit cost (income)	$ 8.9	$ 16.8	$ 17.2

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Funded Status for Pension Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Change in benefit obligation:
Projected benefit obligation at beginning of period	$ 1,369.5	$ 1,262.6
Service cost	11.3	10.0	$ 12.3
Interest cost	37.6	48.0	43.4
Actuarial loss (gain)	11.7	217.9
Settlement/curtailment	(11.4)	(9.6)
Benefits paid	(48.2)	(48.6)
Employee contributions	3.5	3.4
Other	33.5	0.3
Foreign exchange impact	(88.0)	(114.5)
Projected benefit obligation at end of period	1,319.5	1,369.5	1,262.6
Change in plan assets:
Fair value of plan assets at beginning of period	1,044.0	1,023.2
Actual return on plan assets	14.4	121.1
Employer contributions	28.7	36.1
Employee contributions	3.5	3.4
Benefits paid	(48.2)	(48.6)
Settlement/curtailment	(8.2)	(9.6)
Other	(2.1)	1.8
Foreign exchange impact	(62.1)	(83.4)
Fair value of plan assets at end of period	970.0	1,044.0	1,023.2
Underfunded status at end of year	(349.5)	(325.5)
Accumulated benefit obligation at end of year	1,276.0	1,314.6
U.S. Pension Plans [Member]
Change in benefit obligation:
Projected benefit obligation at beginning of period	221.4	192.2
Service cost	0.7	1.1	1.3
Interest cost	8.6	8.7	7.9
Actuarial loss (gain)	(3.5)	31.4
Settlement/curtailment	(4.9)
Benefits paid	(13.7)	(12.0)
Other	6.4
Projected benefit obligation at end of period	215.0	221.4	192.2
Change in plan assets:
Fair value of plan assets at beginning of period	181.6	177.4
Actual return on plan assets	(5.6)	14.4
Employer contributions	0.5	2.6
Benefits paid	(13.7)	(12.0)
Settlement/curtailment	(5.9)
Other	(0.2)	(0.8)
Fair value of plan assets at end of period	156.7	181.6	177.4
Underfunded status at end of year	(58.3)	(39.8)
Accumulated benefit obligation at end of year	210.4	218.0
Non-U.S. Pension Plans [Member]
Change in benefit obligation:
Projected benefit obligation at beginning of period	1,148.1	1,070.4
Service cost	10.6	8.9	11.0
Interest cost	29.0	39.3	35.5
Actuarial loss (gain)	15.2	186.5
Settlement/curtailment	(6.5)	(9.6)
Benefits paid	(34.5)	(36.6)
Employee contributions	3.5	3.4
Other	27.1	0.3
Foreign exchange impact	(88.0)	(114.5)
Projected benefit obligation at end of period	1,104.5	1,148.1	1,070.4
Change in plan assets:
Fair value of plan assets at beginning of period	862.4	845.8
Actual return on plan assets	20.0	106.7
Employer contributions	28.2	33.5
Employee contributions	3.5	3.4
Benefits paid	(34.5)	(36.6)
Settlement/curtailment	(2.3)	(9.6)
Other	(1.9)	2.6
Foreign exchange impact	(62.1)	(83.4)
Fair value of plan assets at end of period	813.3	862.4	$ 845.8
Underfunded status at end of year	(291.2)	(285.7)
Accumulated benefit obligation at end of year	$ 1,065.6	$ 1,096.6

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Funded Status for Pension Plans (Detail) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Other	$ 33.5	$ 0.3
French Plans
Defined Benefit Plan Disclosure [Line Items]
Other	$ 27.3

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Amounts Included in Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Other assets	$ 33.7	$ 25.0
Other current liabilities	(4.0)	(4.1)
Other liabilities	(378.1)	(346.4)
Net amount recognized	(348.4)	(325.5)
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Other liabilities	(58.3)	(39.8)
Net amount recognized	(58.3)	(39.8)
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Other assets	33.7	25.0
Other current liabilities	(4.0)	(4.1)
Other liabilities	(319.8)	(306.6)
Net amount recognized	$ (290.1)	$ (285.7)

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Amounts in Accumulated Other Comprehensive Loss, Not Yet Recognized (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	$ 0.1	$ 0.5
Unrecognized net actuarial loss	362.1	328.8
Total	362.2	329.3
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net actuarial loss	40.9	29.7
Total	40.9	29.7
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	0.1	0.5
Unrecognized net actuarial loss	321.2	299.1
Total	$ 321.3	$ 299.6

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Income) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial (gain) loss	$ 44.8	$ 147.3
Amortization of actuarial loss	(10.6)	(9.9)
Amortization of prior service cost	(0.1)	(0.1)
Settlement/curtailment (gain) loss	(1.2)	(2.3)
Total recognized in other comprehensive loss	32.9	135.0
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial (gain) loss	14.6	28.3
Amortization of actuarial loss	(1.7)	(0.8)
Amortization of prior service cost		(0.1)
Settlement/curtailment (gain) loss	(1.6)
Total recognized in other comprehensive loss	11.3	27.4
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial (gain) loss	30.2	119.0
Amortization of actuarial loss	(8.9)	(9.1)
Amortization of prior service cost	(0.1)
Settlement/curtailment (gain) loss	0.4	(2.3)
Total recognized in other comprehensive loss	$ 21.6	$ 107.6

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Amounts in Accumulated Other Comprehensive Loss Expected to be Recognized in Next Fiscal Year (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	$ 0.2
Unrecognized net actuarial loss	10.8
Total	11.0
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net actuarial loss	1.9
Total	1.9
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	0.2
Unrecognized net actuarial loss	8.9
Total	$ 9.1

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Information for Plans with Accumulated Benefit Obligations in Excess of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 961.8	$ 1,126.3
Fair value of plan assets	615.0	825.4
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	210.4	218.0
Fair value of plan assets	156.7	181.6
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	751.4	908.3
Fair value of plan assets	$ 458.3	$ 643.8

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Weighted Average Assumptions Used to Determine Benefit Obligations (Detail)	Dec. 31, 2015	Dec. 31, 2014
U.S. Pension Plans [Member]
Benefit obligations
Discount rate	4.30%	3.90%
Rate of compensation increase	3.00%	3.00%
Non-U.S. Pension Plans [Member]
Benefit obligations
Discount rate	2.60%	2.70%
Rate of compensation increase	2.50%	2.70%

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Pension Plans [Member]
Net periodic benefit cost
Discount rate	3.90%	4.60%	3.80%
Expected long-term rate of return	6.50%	6.50%	6.50%
Rate of compensation increase	3.00%	3.00%	3.50%
Non-U.S. Pension Plans [Member]
Net periodic benefit cost
Discount rate	2.70%	3.80%	3.70%
Expected long-term rate of return	4.90%	5.20%	5.00%
Rate of compensation increase	2.70%	2.90%	2.80%

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Estimated Future Benefit Payments (Detail) $ in Millions	Dec. 31, 2015 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2016	$ 48.2
2017	46.5
2018	48.2
2019	49.2
2020	49.8
Thereafter	276.9
Total	518.8
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2016	14.4
2017	13.8
2018	14.5
2019	14.3
2020	13.4
Thereafter	69.0
Total	139.4
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2016	33.8
2017	32.7
2018	33.7
2019	34.9
2020	36.4
Thereafter	207.9
Total	$ 379.4

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Fair Values of Pension Plan Assets, by Asset Category and Level of Fair Values (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 970.0	$ 1,044.0	$ 1,023.2
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2.1	4.8
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	851.0	916.0
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	116.9	123.2
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.3	9.6
Cash and Cash Equivalents [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2.1	4.8
Cash and Cash Equivalents [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.2	4.8
Fixed Income Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	440.8	495.2
Fixed Income Funds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	440.8	495.2
Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	380.0	392.8
Equity Funds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	380.0	392.8
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	142.9	146.4
Other [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	26.0	23.2
Other [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 116.9	$ 123.2

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Reconciliation of Plan Asset Measured Using Level 3 Inputs (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of period	$ 1,044.0	$ 1,023.2
Foreign exchange impact	(62.1)	(83.4)
Fair value of plan assets at end of period	970.0	1,044.0
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of period	123.2
Fair value of plan assets at end of period	116.9	123.2
U.S. and International [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of period	123.2	87.5
Gains on assets still held at end of year	6.1	5.3
Purchases, sales, issuance, and settlements	(1.1)	10.5
Transfers in and/or out of Level 3	(4.9)	31.3
Foreign exchange impact	(6.4)	(11.4)
Fair value of plan assets at end of period	$ 116.9	$ 123.2

Other Post-Employment Benefits and Other Employee Benefit Plans - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Minimum age of employee for entitlement of other post retirement benefit plans	55 years
Minimum number of years of service for entitlement of other post retirement benefit plans	10 years
Amortization period of transition obligation	20 years
Accumulated post-retirement benefit obligations, weighted-average discount rate	4.00%	3.90%
Belgian Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate assumed for the year	4.00%
U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate assumed for the year	6.50%
Health care cost trend rate downgraded	5.00%
Year in which rate reaches ultimate trend rate	2022
Canada Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate assumed for the year	6.00%
Health care cost trend rate downgraded	5.00%
Year in which rate reaches ultimate trend rate	2018

Other Post-Employment Benefits and Other Employee Benefit Plans - Funded Status for Pension Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Change in benefit obligation:
Projected benefit obligation at beginning of period	$ 1,369.5	$ 1,262.6
Service cost	11.3	10.0	$ 12.3
Interest cost	37.6	48.0	43.4
Actuarial loss (gain)	11.7	217.9
Benefits paid, net	(48.2)	(48.6)
Loss due to exchange rate movements	88.0	114.5
Projected benefit obligation at end of period	1,319.5	1,369.5	1,262.6
Change in plan assets:
Fair value of plan assets at beginning of period	1,044.0	1,023.2
Employer contributions	28.7	36.1
Benefits paid, net	(48.2)	(48.6)
Fair value of plan assets at end of period	970.0	1,044.0	1,023.2
Net amount recognized:
Underfunded status	(349.5)	(325.5)
Accumulated benefit obligation at end of year	1,276.0	1,314.6
Net amount recognized in consolidated balance sheets consists of:
Current liability	(4.0)	(4.1)
Noncurrent liability	(378.1)	(346.4)
Net amount recognized	(348.4)	(325.5)
Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	362.1	328.8
Prior service credit	0.1	0.5
Total	362.2	329.3
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Change in benefit obligation:
Projected benefit obligation at beginning of period	79.8	73.1
Service cost	0.9	0.8	0.9
Interest cost	3.0	3.2	3.0
Actuarial loss (gain)	(4.7)	7.2
Benefits paid, net	(4.1)	(4.2)
Loss due to exchange rate movements	(0.6)	(0.5)
Plan amendments	(8.5)	0.2
Projected benefit obligation at end of period	65.8	79.8	$ 73.1
Change in plan assets:
Employer contributions	4.1	4.2
Benefits paid, net	(4.1)	(4.2)
Net amount recognized:
Underfunded status	(65.8)	(79.8)
Accumulated benefit obligation at end of year	52.7	61.6
Net amount recognized in consolidated balance sheets consists of:
Current liability	(5.1)	(5.3)
Noncurrent liability	(60.7)	(74.5)
Net amount recognized	(65.8)	(79.8)
Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	8.6	13.8
Prior service credit	(17.6)	(11.2)
Total	$ (9.0)	$ 2.6

Other Post-Employment Benefits and Other Employee Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of net periodic benefit cost:
Service cost	$ 11.3	$ 10.0	$ 12.3
Interest cost	37.6	48.0	43.4
Amortization of net loss	10.7	9.9	10.0
Amortization of prior service credit	0.1	0.1	0.4
Total benefit cost (income)	10.2	16.2	17.0
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Components of net periodic benefit cost:
Service cost	0.9	0.8	0.9
Interest cost	3.0	3.2	3.0
Amortization of net loss	0.4	0.1	0.4
Amortization of prior service credit	(0.8)	(0.7)	(0.7)
Total benefit cost (income)	$ 3.5	$ 3.4	$ 3.6

Other Post-Employment Benefits and Other Employee Benefit Plans - Accumulated Other Comprehensive Loss Expected to be Recognized as Components of Net Periodic Benefit Cost (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	$ (0.2)
Unrecognized net actuarial loss	(10.8)
Total	(11.0)
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	(1.5)
Unrecognized net actuarial loss	0.1
Total	$ (1.4)

Other Post-Employment Benefits and Other Employee Benefit Plans - One Percentage Point Change on Assumed Healthcare Cost (Detail) - Other Post-Employment Benefits and Other Employee Benefit Plans [Member] $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Effect on total of service and interest cost components, 1% Increase	$ 0.2
Effect on post-retirement benefit obligation, 1% Increase	3.5
Effect on total of service and interest cost components, 1% Decrease	(0.1)
Effect on post-retirement benefit obligation, 1% Decrease	$ (0.3)

Other Post-Employment Benefits and Other Employee Benefit Plans - Estimated Future Benefit Payments (Detail) $ in Millions	Dec. 31, 2015 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2016	$ 48.2
2017	46.5
2018	48.2
2019	49.2
2020	49.8
Thereafter	276.9
Total	518.8
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2016	5.2
2017	5.1
2018	5.0
2019	5.0
2020	5.1
Thereafter	21.6
Total	$ 47.0

Income Taxes - Components of Earnings (Loss) from Continuing Operations Before Income Tax Provision (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Domestic	$ 102.8	$ (62.2)	$ (92.6)
Foreign	323.1	329.4	272.8
Earnings from continuing operations before income tax provision	$ 425.9	$ 267.2	$ 180.2

Income Taxes - Components of Income Tax Provision (Benefit) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Current tax expense (benefit):

Federal

$ 6.3

$ (216.0)

$ (4.3)

State and local

7.3

0.2

(3.9)

Foreign

99.5

78.7

89.3

Total current expense (benefit)

113.1

(137.1)

81.1

Deferred tax expense (benefit) :

Federal

(35.7)

176.8

4.2

State and local

10.9

(27.2)

10.4

Foreign

2.2

(3.4)

(10.8)

Total deferred tax expense (benefit)

(22.6)

146.2

^[1],[2]

3.8

^[1]

Total income tax provision

$ 90.5

$ 9.1

$ 84.9

[1]

[2]

Interest payments in 2014 include $417 million related to the Settlement agreement

Income Taxes - Additional Information (Detail) - USD ($)

1 Months Ended

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Excess tax benefit increase to additional paid in capital

$ 13,000,000

Foreign net operating losses

$ 162,000,000

162,000,000

Foreign credits

16,000,000

Foreign accruals and employee benefits

12,000,000

State net operating loss carry forwards

53,000,000

State tax credits

14,000,000

Increase (decrease) in valuation allowance

$ 30,000,000

$ (29,000,000)

State net operating loss carryforwards expire

over one to 20 years

Deferred tax liability, unremitted foreign earnings

44,100,000

$ 130,000,000

$ 44,100,000

$ 130,000,000

Foreign tax credit, unremitted foreign earnings

124,000,000

Deferred tax liability, foreign subsidiaries accumulated earnings

1,500,000,000

Undistributed earnings of foreign subsidiaries

5,100,000,000

Excess tax benefit from settlement agreement, out of period adjustment

(46,000,000)

(38,000,000)

$ 46,200,000

^[1]

Common stock issued in settlement agreement, amount

38,000,000

Statutory federal tax rate

35.00%

Net increase in unrecognized tax benefit during the year

$ 90,500,000

$ 9,100,000

$ 84,900,000

50,000,000

Effective income tax rate, reserves, statute of limitations

58,000,000

Decrease in income tax provision if unrecognized tax benefits were recognized

204,000,000

Unrecognized interest and penalties

29,000,000

27,000,000

Unrecognized penalties

10,000,000

$ 11,000,000

10,000,000

11,000,000

12,000,000

Interest and penalties, reversed in connection with related tax accruals for uncertainties in prior years

4,000,000

5,000,000

Prior Years [Member]

11,000,000

Federal

Tax credit carryforwards amount

199,000,000

State And Local Jurisdiction

State net operating loss carry forwards

1,500,000,000

Increase (decrease) in valuation allowance

(58,000,000)

Valuation allowance for net operating losses

5,000,000

Tax credit carryforwards amount

22,000,000

Foreign Country

Foreign net operating loss carryforwards

800,000,000

Tax credit carryforwards amount

67,000,000

Payments made to a foreign jurisdictions

6,000,000

Excess tax benefit increase to additional paid in capital

$ 1,000,000

Reduction in unrecognized tax benefit in the next 12 months

48,000,000

$ 48,000,000

Examination of income tax return

5 years

Income tax return in foreign jurisdictions

5 years

Minimum [Member]

Reduction in unrecognized tax benefit in the next 12 months

$ 0

Examination of income tax return

3 years

Income tax return in foreign jurisdictions

3 years

[1]	In 2015, we recorded an out of period adjustment of $46 million related to excess tax benefits from the Settlement agreement. Refer to Note 16, “Income Taxes” of the notes to Consolidated Financial Statements for further details.

Income Taxes - Components of Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Restructuring reserves	$ 9.1	$ 4.7
Accruals not yet deductible for tax purposes	45.6	56.5
Net operating loss carry forwards	250.1	291.1
Foreign, federal and state credits and investment tax allowances	162.2	109.3
Employee benefit items	166.5	163.8
Other	37.5	44.1
Gross deferred tax assets	671.0	669.5
Valuation allowance	(257.4)	(227.8)
Total deferred tax assets	413.6	441.7
Depreciation and amortization	(30.3)	(40.0)
Unremitted foreign earnings	(44.1)	(130.0)
Intangibles	(209.6)	(214.2)
Other		(11.7)
Total deferred tax liabilities	(284.0)	(395.9)
Net deferred tax assets	$ 129.6	$ 45.8

Income Taxes - Federal Statutory Corporate Tax Rate Reconciles to Our Effective Income Tax Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Computed expected tax, amount	$ 149.1	$ 93.5	$ 63.0
State income taxes, net of federal tax benefit, amount	5.2	(5.7)	(2.2)
Foreign earnings taxed at lower rates, amount	(21.8)	(35.2)	(15.9)
U.S. tax on foreign earnings, amount	12.1	10.5	8.6
Foreign tax credits, amount	(54.4)
Unremitted foreign earnings, amount	(86.0)	(5.2)
Overall foreign loss recapture, amount	67.9
Net change in valuation allowance, amount	(58.2)	(13.2)	40.3
Net change in unrecognized tax benefits, amount	56.8	(23.4)	3.6
Reorganization tax benefit, amount		(2.2)	(12.0)
Other, amount	19.8	(10.0)	(0.5)
Total income tax provision	$ 90.5	$ 9.1	$ 84.9
Computed expected tax, percentage	35.00%	35.00%	35.00%
State income taxes, net of federal tax benefit, percentage	1.20%	(2.10%)	(1.20%)
Foreign earnings taxed at lower rates, percentage	(5.10%)	(13.20%)	(8.80%)
U.S. tax on foreign earnings, percentage	2.80%	3.90%	4.80%
Foreign tax credits, percentage	(12.80%)
Unremitted foreign earnings, percentage	(20.20%)	(1.90%)
Overall foreign loss recapture, percentage	16.00%
Net change in valuation allowance, percentage	(13.70%)	(4.90%)	22.40%
Net change in unrecognized tax benefits, percentage	13.30%	(8.80%)	2.00%
Reorganization tax benefit, percentage		(0.90%)	(6.70%)
Other, percentage	4.70%	(3.70%)	(0.30%)
Effective income tax rate, percentage	21.20%	3.40%	47.10%

Income Taxes - Unrecognized Tax Benefits and Effect on Effective Income Tax Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Beginning balance of unrecognized tax benefits	$ 188.9	$ 221.9	$ 233.2
Additions for tax positions of current year	3.1	5.2	7.5
Additions for tax positions of prior years	111.9	7.7	5.0
Reductions for tax positions of prior years	(64.8)	(45.9)	(23.8)
Ending balance of unrecognized tax benefits	$ 239.1	$ 188.9	$ 221.9

Commitments and Contingencies - Additional Information (Detail)
$ / shares in Units, € in Millions, $ in Millions

1 Months Ended

12 Months Ended

Jun. 13, 2014

USD ($)

$ / shares

Apr. 04, 2014

Feb. 03, 2014

USD ($)

May 25, 2010

EUR (€)

Mar. 31, 2007

Feb. 28, 2002

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2013

USD ($)

Dec. 31, 2002

USD ($)

Jul. 03, 2014

EUR (€)

Sep. 19, 2008

Trust

Original number of shares expected to be issued under settlement agreement, adjusted | shares

18,000,000

Registration rights agreement dated

Feb. 03, 2014

Cash payment for settlements from cash and cash equivalents

$ 555.0

Cash payment for settlements from borrowings

260.0

Cash payment for settlements from receivables securitization

115.0

Common stock repurchase value

$ 1,265.7

$ 481.4

^[1],[2],[3]

Number of common stock shares repurchased | shares

16,100,000

Date of shelf registration statement filed and became effective

Apr. 04, 2014

Settlement agreement (as defined therein) and tax deduction

$ 1,490.0

Original number of shares expect to be issued under settlement agreement | shares

9,000,000

Charge covering a cash payment that will be required to make under settlement agreement upon the effectiveness of an appropriate plan of reorganization

$ 513.0

Adjustment of company's common stock that is charged and expected to be issued under settlement agreement

To eighteen million shares upon the two-for-one stock split in March 2007

Percentage of annual interest that accrues on Settlement agreement charges from December 21, 2002 to the date of payment

5.50%

Stock split ratio

Establishment of asbestos trust under Section 524(g) | Trust

Charges accrued for potential liabilities

$ 172.0

Loss contingency liability

$ 11.0

€ 10

14.0

Principal contractual obligations including agreements to purchase an estimated amount of goods, including raw materials, or services

416.1

Net rental expense

$ 62.0

$ 71.0

$ 79.0

Italian Ministry of Economic Development [Member] | Italy [Member]

Repayment of grant monies | €

€ 5

WRG Asbestos PI Trust and WRG Asbestos PD Trust [Member]

Cash payments under settlement agreement

$ 929.7

WRG Asbestos PI Trust [Member]

Original number of shares expected to be issued under settlement agreement, adjusted | shares

18,000,000

Common stock repurchase value

$ 130.0

Number of common stock shares repurchased | shares

3,932,244

Common stock repurchase price per share | $ / shares

$ 33.06

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Commitments and Contingencies - Estimated Future Cash Outlays Related to Principal Contractual Obligations (Detail) $ in Millions	Dec. 31, 2015 USD ($)
Commitments And Contingencies Disclosure [Abstract]
2016	$ 223.1
2017	95.4
2018	60.3
2019	25.6
2020	10.7
Thereafter	1.0
Total	$ 416.1

Commitments and Contingencies - Estimated Future Minimum Annual Rental Commitments Under Non-Cancelable Real and Personal Property Leases (Detail) $ in Millions	Dec. 31, 2015 USD ($)
Commitments And Contingencies Disclosure [Abstract]
2016	$ 50.4
2017	34.8
2018	22.0
2019	14.3
2020	7.7
Thereafter	11.3
Total	$ 140.5

Stockholders' Equity - Additional Information (Detail) - USD ($)

1 Months Ended

12 Months Ended

Feb. 17, 2016

Sep. 30, 2015

May 31, 2015

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Jan. 31, 2016

Aug. 05, 2015

Jul. 09, 2015

Mar. 31, 2015

Dec. 31, 2012

Aug. 31, 2007

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock repurchase program, number of shares authorized to be repurchased

20,000,000

Common stock in treasury, shares

$ 1,265,700,000

$ 481,400,000

^[1],[2],[3]

29,612,337

14,151,759

9,508,908

10,102,952

Number of common stock shares repurchased

$ 802,000,000

$ 184,000,000

16,100,000

Dividends per share on common stock

$ 0.52

Common stock, shares outstanding

196,013,299

210,531,894

196,198,672

Subsequent Event [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Dividends per share on common stock

$ 0.13

Estimated dividend payment

$ 25,000,000

Common stock, shares outstanding

196,000,000

Dividends declared date

Feb. 17, 2016

Dividends declared payable date

Mar. 18, 2016

Dividends declared date of record

Mar. 04, 2016

Share Trading Plan [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Number of common stock shares repurchased

$ 478,000,000

9,804,934

Accelerated Shares Repurchase Agreement [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Common stock in treasury, shares

$ 299,000,000

$ 25,000,000

5,771,603

546,574

Common stock repurchase price per share

$ 51.76

$ 45.74

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock repurchase program, authorized amount

$ 1,500,000,000

Maximum [Member] | Accelerated Shares Repurchase Agreement [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

$ 300,000,000

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Stockholders' Equity - Summary of Cash Dividends Paid (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended			38 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Stockholders Equity [Abstract]
Total Cash Dividends Paid	$ 106.8	$ 110.9	$ 102.0	$ 319.7
Dividends per common share	$ 0.52	$ 0.52	$ 0.52

Stockholders' Equity - Summary of Changes in Common Stock and Common Stock in Treasury (Detail) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, beginning of year	224,683,653	205,707,580	204,660,621
Shares issued for Grace Settlement		18,000,000
Restricted stock shares issued for new awards under the Omnibus Incentive Plan and 2005 Contingent Stock Plan	419,844	572,089	398,230
Restricted stock shares, forfeited	(185,056)
Shares issued for vested restricted stock units	172,071	136,197	98,550
Shares issued for SLO awards	71,893	101,062	51,321
Number of shares issued, end of year	225,625,636	224,683,653	205,707,580
Number of shares held, beginning of year	14,151,759	9,508,908	10,102,952
Number of common stock shares repurchased	16,100,000
Restricted stock shares, forfeited	185,056
Number of shares held, end of year	29,612,337	14,151,759	9,508,908
Common stock, shares outstanding	196,013,299	210,531,894	196,198,672
Common Stock in Treasury [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares, forfeited		(106,220)	(40,100)
Number of common stock shares repurchased	16,123,111	5,427,432
Profit sharing contribution paid in stock	(787,463)	(965,238)	(857,754)
Restricted stock share forfeitures transferred to Omnibus Incentive Plan Reserve	(75,638)
Restricted stock shares, forfeited		106,220	40,100
Shares withheld for taxes	200,568	74,437	223,610
2002 Directors Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors	20,246	21,128	25,993
2012 Three-year PSU Awards [member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards under the Omnibus Incentive Plan and 2005 Contingent Stock Plan	442,985
2011 Three-year PSU Awards [member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards under the Omnibus Incentive Plan and 2005 Contingent Stock Plan		145,597
2010 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards under the Omnibus Incentive Plan and 2005 Contingent Stock Plan			472,865

Stockholders' Equity - Additional Information 1 (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	May 22, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested cash award ,Unrecognized compensation costs	$ 4
Weighted-average remaining contractual life of non vested cash awards	1 year 4 months 24 days
Liabilities related to cash awards	$ 5
2014 Omnibus Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares of common stock authorized for issuance		4,250,000

Stockholders' Equity - Summary of Changes in Common Shares Available for Awards under Omnibus Incentive Plan and Predecessor Plans (Detail) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards	(71,893)	(101,062)	(51,321)
Restricted stock shares, forfeited	185,056
2005 Contingent Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available, beginning of year	8,775,994	5,676,699	6,588,352
Restricted stock shares issued for new awards	(419,844)	(572,089)	(398,230)
Shares withheld for taxes		69,821	223,610
Number of shares available, end of year	7,694,739	8,775,994	5,676,699
Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards		4,250,000
2012 Three-year PSU Awards [member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards	(442,985)
2011 Three-year PSU Awards [member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards		(145,597)
2010 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards			(472,865)
2002 Directors Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Director shares granted and issued	(20,246)	(21,128)	(25,993)
Director units granted and deferred	(925)	(20,444)	(21,642)
Restricted Stock [Member] \| 2005 Contingent Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares, forfeited	185,056	106,220	40,100
Restricted Stock Units (RSUs) [Member] \| 2005 Contingent Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards	(300,085)	(431,987)	(187,595)
Restricted stock shares, forfeited	38,100	9,800	3,500
Restricted Stock SLO Awards [Member] \| 2005 Contingent Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards		(96,773)	(21,505)
Restricted Stock Units RSU SLO Awards [Member] \| 2005 Contingent Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards	(134,078)	(48,528)	(51,033)
SLO Awards [Member] \| 2005 Contingent Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares, forfeited	13,752

Stockholders' Equity - Summary of Changes in Common Shares Available for Awards under Omnibus Incentive Plan and Predecessor Plans (Parenthetical) (Detail) shares in Millions	Dec. 31, 2015 shares
PSU and SLO Awards [Member].
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Contingently issuable shares	4.1

Stockholders' Equity - Summarizes the Company's Pre-tax Share-based Incentive Compensation Expense and Income Tax Benefit (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Associated tax benefits recognized

^[1]

$ 61.2

$ 54.1

^[2],[3]

$ 24.1

^[2]

18.6

15.7

7.8

2015 Three-year PSU Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

2014 Special PSU Awards [Member]

4.7

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

2014 Three-year PSU Awards [Member]

15.7

11.8

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

2013 Three-year PSU Awards [Member]

7.0

6.8

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

2012 Three-year PSU Awards [member]

4.7

8.2

4.4

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

2011 Three-year PSU Awards [member]

1.8

2.4

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share-based compensation expense, reversal amount

(1.2)

2010 Three-year PSU Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

2013 WVH Incentive Compensation [Member]

0.1

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

2012 President and COO Four-year Incentive Compensation [Member]

^[4]

1.3

2.5

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

^[5]

0.3

0.4

0.6

SLO Awards [Member]

Other long-term share-based incentive compensation programs [Member]

3.7

4.6

2.8

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

^[6]

$ 25.1

$ 19.2

$ 12.5

[1]	The amounts do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock as these contributions are not considered share-based incentive compensation.
[2]	For the years ended December 31, 2014 and 2013, certain amounts related to foreign currency gains and losses, including the remeasurement loss related to Venezuelan subsidiaries in 2014 and 2013, and the settlement of foreign currency forward contracts were misclassified. Additional revisions were made to the Consolidated Balance Sheets for the years ended December 31, 2014 and 2013. As a result, corresponding changes were made on the Consolidated Statement of Cash Flows. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	Interest payments in 2014 include $417 million related to the Settlement agreement
[4]	On February 28, 2013, the Organization and Compensation Committee of our Board of Directors (“O&C Committee”) approved a change in the vesting policy regarding the existing 2011 Three-year PSU Awards, and the newly granted 2013 three-year PSU Awards, for William V. Hickey, our former Chairman and Chief Executive Officer. The approved change will result in the full vesting of the awards, rather than a pro-rata portion vesting as of the date of his retirement (May 16, 2013). Mr. Hickey’s awards will still be subject to the performance metrics stipulated in the plan documents, and will be paid-out in accordance with the original planned timing. As a result of these approved changes, the expense related to these awards was accelerated and recognized over the applicable service period up until the date of his retirement.
[5]	The amount includes only the two initial equity awards. See below for further detail.
[6]	The amount includes the expenses associated with the restricted stock awards consisting of restricted stock shares, restricted stock units and cash-settled restricted stock unit awards.

Stockholders' Equity - Summary of Unvested Restricted Stock and Restricted Stock Unit (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued for SLO awards	71,893	101,062	51,321
Vested	(172,071)	(136,197)	(98,550)
Restricted stock shares, forfeited	(185,056)
Restricted Stock Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at December 31, 2014	1,561,969
Shares issued for SLO awards	419,844
Vested	(593,970)
Restricted stock shares, forfeited	(118,068)
Non-vested at December 31, 2015	1,269,775	1,561,969
Number of non-vested restricted stock, Weighted- Average per Share Fair value on Grant Date, beginning of year	$ 25.09
Restricted stock for granted, Weighted- Average per Share Fair Value on Grant Date during the year	45.35
Restricted stock vested/exercised, Weighted- Average per Share Fair Value on Grant Date during the year	17.21
Restricted stock forfeited or expired, Weighted- Average per Share Fair Value on Grant Date during the year	29.57
Number of non-vested restricted stock, Weighted- Average per Share Fair Value on Grant Date, Ending of year	$ 35.09	$ 25.09
Aggregate Intrinsic Value	$ 28.8
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at December 31, 2014	791,335
Shares issued for SLO awards	301,285
Vested	(172,071)
Restricted stock shares, forfeited	(38,100)
Non-vested at December 31, 2015	882,449	791,335
Number of non-vested restricted stock, Weighted- Average per Share Fair value on Grant Date, beginning of year	$ 27.66
Restricted stock for granted, Weighted- Average per Share Fair Value on Grant Date during the year	45.18
Restricted stock vested/exercised, Weighted- Average per Share Fair Value on Grant Date during the year	17.62
Restricted stock forfeited or expired, Weighted- Average per Share Fair Value on Grant Date during the year	20.16
Number of non-vested restricted stock, Weighted- Average per Share Fair Value on Grant Date, Ending of year	$ 35.93	$ 27.66
Aggregate Intrinsic Value	$ 8.5

Stockholders' Equity - Summary of Vested Restricted Stock (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of restricted stock shares vested	$ 7.4	$ 10.2	$ 7.6
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of restricted stock shares vested	$ 2.1	$ 3.0	$ 3.2

Stockholders' Equity - Summary of Unrecognized Compensation Cost (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 20.7
Weighted Average to be recognized	1 year 4 months 24 days
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 14.1
Weighted Average to be recognized	1 year 4 months 24 days

Stockholders' Equity - Additional Information 2 (Detail) - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Sep. 01, 2012

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Jan. 31, 2016

Sep. 01, 2013

Sep. 30, 2012

Share based compensation expense recognized period

71,893

101,062

51,321

Liabilities Current

$ 1,807.1

$ 1,727.2

^[1],[2],[3]

15 months

Awards vest at grant date

Mar. 15, 2016

Mar. 15, 2015

Mar. 15, 2014

Payment due to exercise SARs

$ 21.0

$ 46.0

Liability for SARs

$ 4.0

2005 Contingent Stock Plan [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Targeted number of common stock shares to be earned under the performance incentive plan

419,844

572,089

398,230

350,000

Restricted shares issued

50,000

Other Non-current Liabilities [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Liabilities Current

$ 5.0

Three-year PSU Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Performance Period

3 years

Target level for the determination of performance goals and measures for adjusted EBITDA goal

65.00%

Weighted average return on total share holders

35.00%

Three-year PSU Awards [Member] | Minimum [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares to be issued as a percentage of target shares under the performance incentive plan

0.00%

Three-year PSU Awards [Member] | Maximum [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares to be issued as a percentage of target shares under the performance incentive plan

200.00%

PSUs – Total Shareholder Return [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Target level for the determination of performance goals and measures

100.00%

Weighted average grant date fair value

65,796

129,150

242,988

$ 59.91

$ 43.13

$ 28.64

Expected price volatility

29.90%

32.90%

31.40%

Risk-free interest rate

1.05%

0.63%

0.42%

2014 Special PSU Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

PSU awards performance period

3 years

Percentage of reduction in amount earned based on free cash flow performance

25.00%

PSUs earned will be paid out in equal installments

2 years

Weighted average grant date fair value

641,480

$ 32.10

Expected price volatility

32.90%

Risk-free interest rate

0.68%

Unrecognized compensation expense

$ 18.0

Weighted-average remaining contractual life

1 year

TSR [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Weighted average grant date fair value

213,827

$ 13.73

Restricted Stock [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unrecognized compensation expense

$ 20.7

Weighted-average remaining contractual life

1 year 4 months 24 days

Restricted Stock [Member] | 2005 Contingent Stock Plan [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares expected to be issued

25,000

2014 Three-year PSU Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unrecognized compensation expense

$ 4.9

Weighted-average remaining contractual life

1 year

2014 Three-year PSU Awards [Member] | 2005 Contingent Stock Plan [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares granted

140,155

SLO Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Cash bonus

0.25

Share Based Compensation Stock Award Premium

25.00%

Restricted stock shares and restricted stock units included in SLO Award target

78,243

Stock Appreciation Rights (“SARs”) [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Allocated Share Based Compensation Expense

$ 4.0

$ 8.0

$ 38.0

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Stockholders' Equity - Summary of Number of PSUs Granted Based on Adjusted EBITDA and Grant Date Fair Value (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued for SLO awards	71,893	101,062	51,321
PSUs – Adjusted EBITDA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued for SLO awards	158,964	239,851	451,264
Restricted stock for granted, Weighted- Average per Share Fair Value on Grant Date during the year	$ 46.05	$ 32.72	$ 20.23

Stockholders' Equity - Summary of Assumptions Used to Calculate the Grant Date Fair Value Based on Total Shareholder Return (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted	71,893	101,062	51,321
PSUs – Total Shareholder Return [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted	65,796	129,150	242,988
Weighted average fair value on grant date	$ 59.91	$ 43.13	$ 28.64
Expected Price volatility	29.90%	32.90%	31.40%
Risk-free interest rate	1.05%	0.63%	0.42%

Stockholders' Equity - Summary of Assumptions Used to Calculate the Grant Date Fair Value Based on Total Shareholder Return (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2015
William V. Hickey [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Price volatility	31.50%
Risk-free interest rate	0.36%
Jerome A. Peribere [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Price volatility	31.50%
Risk-free interest rate	0.36%

Stockholders' Equity - Summary of Estimated Earned Payout (Detail)	12 Months Ended
	Dec. 31, 2015
2015 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated Payout on Adjusted EBITDA	100.00%
Estimated Payout on TSR	100.00%
Estimated Payout Combined	100.00%
2014 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated Payout on Adjusted EBITDA	200.00%
Estimated Payout on TSR	200.00%
Estimated Payout Combined	200.00%
2013 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated Payout on Adjusted EBITDA	200.00%
Estimated Payout on TSR	200.00%
Estimated Payout Combined	200.00%

Stockholders' Equity - Summary of Activity for Outstanding PSUs awards (Detail) - PSU Awards [Member]
$ in Millions

12 Months Ended

Dec. 31, 2015

USD ($)

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Outstanding at December 31, 2014

1,346,375

Granted

224,760

^[1]

Converted

(432,574)

Forfeited or expired

(57,116)

Outstanding at December 31, 2015

1,081,445

Fully vested at December 31, 2015

531,440

Aggregate Intrinsic Value | $

$ 19.6

^[2]

Fully vested at December 31, 2015 | $

$ 47.4

^[2]

[1]	This represents the target number of performance units granted. Actual number of PSUs earned, if any, is dependent upon performance and may range from 0% to 200% percent of the target.
[2]	These amounts represent actual number of PSUs earned and vested at December 31, 2014 which were issued in February 2015.

Stockholders' Equity - Summary of Activity for Outstanding PSUs awards (Parenthetical) (Detail) - PSU Awards [Member]	Dec. 31, 2015
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance units granted percentage	0.00%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance units granted percentage	200.00%

Stockholders' Equity - Summary of Activity for PSUs awards (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued for SLO awards	71,893	101,062	51,321
Vested	(172,071)	(136,197)	(98,550)
Restricted stock shares, forfeited	(185,056)
PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at December 31, 2014	913,801
Shares issued for SLO awards	224,760
Vested	(531,440)
Restricted stock shares, forfeited	(57,116)
Non-vested at December 31, 2015	550,005	913,801
Non-vested at December 31, 2014	$ 28.38
Granted	50.11
Vested	24.32
Forfeited or expired	25.55
Non-vested at December 31, 2015	$ 41.99	$ 28.38

Stockholders' Equity - Schedule of Fair Value of Vested for Three-year PSU Awards (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of restricted stock shares vested	$ 20.1	$ 5.9	$ 3.5

Stockholders' Equity - Summary of Unrecognized Compensation Cost for Three-year PSU Awards and Weighted Average Period (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
2015 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 6.5
Weighted Average to be recognized	2 years
2014 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 4.9
Weighted Average to be recognized	1 year

Accumulated Other Comprehensive Income (Loss) - Details of Comprehensive Income (Loss) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[1]

$ (613.8)

^{[2],[3],[4],[5]}

$ (277.4)

Other comprehensive income (loss) before reclassifications

(182.0)

(334.8)

Less: amounts reclassified from accumulated other comprehensive income (loss)

(24.2)

(1.6)

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

(206.2)

(336.4)

^[6]

$ (112.5)

^[6]

^[1]

(820.0)

^[5]

(613.8)

^{[2],[3],[4],[5]}

(277.4)

Unrecognized Pension Items

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[1]

(250.1)

^[5]

(143.3)

Other comprehensive income (loss) before reclassifications

(22.8)

(115.5)

Less: amounts reclassified from accumulated other comprehensive income (loss)

6.9

8.7

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

(15.9)

(106.8)

^[1]

(266.0)

^[5]

(250.1)

^[5]

(143.3)

Cumulative Translation Adjustment

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[1]

(369.9)

^[5]

(137.7)

Other comprehensive income (loss) before reclassifications

(194.1)

(232.2)

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

(194.1)

(232.2)

^[1]

(564.0)

^[5]

(369.9)

^[5]

(137.7)

Unrecognized Gains (Losses) on Derivative Instruments | Net Investment Hedge [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Other comprehensive income (loss) before reclassifications

1.7

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

1.7

^[1],[5]

1.7

Unrecognized Gains (Losses) on Derivative Instruments | Cash Flow Hedge [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[1]

6.2

^[5]

3.6

Other comprehensive income (loss) before reclassifications

33.2

12.9

Less: amounts reclassified from accumulated other comprehensive income (loss)

(31.1)

(10.3)

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

2.1

2.6

^[1]

$ 8.3

^[5]

$ 6.2

^[5]

$ 3.6

[1]	(1) For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified within Accumulated Other Comprehensive Loss (“AOCI”) on the Consolidated Balance Sheet. Refer Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[3]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.
[5]	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $31.1 million as of December 31, 2015 and $58.9 million as of December 31, 2014.
[6]	For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified on the Consolidated Statements of Comprehensive Income (Loss) in deferred pension items and unrealized losses on cash flow hedge derivative instruments. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.

Accumulated Other Comprehensive Income (Loss) - Details of Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($)
$ in Millions

Dec. 31, 2015

Dec. 31, 2014

Accumulated Other Comprehensive Income Loss [Line Items]

Intra Entity Currency Translation

$ (564.0)

$ (369.9)

^[1],[2],[3]

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income Loss [Line Items]

$ 31.1

$ 58.9

[1]	As of December 31, 2015, we have adopted ASU 2015-17 which resulted in a decrease in deferred tax assets of $105.6 million, an increase in non-current deferred tax assets of $17.0 million, a decrease in current deferred tax liabilities of $4.8 million and a decrease in non-current deferred tax liabilities of $83.8 million as of December 31, 2014.
[2]	During the fourth quarter of 2015, we completed the sale of our European food trays business. During the fourth quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $37 million of assets and $7 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details. Certain foreign currency translation adjustments were misclassified within the components of Accumulated Other Comprehensive Income on the Consolidated Balance Sheets. Additionally, we reclassified $13 million from accounts payable to short-term borrowings related to extended payment terms on a vendor agreement and $36 million from cash to other assets related to cash used as collateral for borrowing agreements. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the second quarter of 2015, we completed the sale of our North American foam trays and absorbent pads business. During the first quarter of 2015, the assets and liabilities met the criteria of held for sale classification. Accordingly, we reclassified $42 million of assets and $6 million of liabilities as held for sale as of December 31, 2014. Refer to Note 3, “Divestitures and Acquisitions” of the notes to Consolidated Financial Statements for further details.

Accumulated Other Comprehensive Income (Loss) - Detail of Amount Reclassified from Accumulated Other Comprehensive Income (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2015

^[1]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Prior service costs

$ 0.1

Amortization of actuarial loss

(10.6)

(9.9)

Settlement/curtailment gain/(loss)

1.2

2.3

Earnings from continuing operations before income tax provision

425.9

267.2

$ 180.2

Tax (expense) benefit

(90.5)

(9.1)

(84.9)

Other income (expense) , net

$ 123.5

$ 86.6

$ 28.1

$ 97.2

$ 66.3

$ 60.8

$ 60.1

$ 70.9

335.4

258.1

^[2]

125.8

^[2]

19.9

8.8

(11.9)

Interest expenses

227.7

287.7

361.0

Total reclassifications for the period

24.2

1.6

Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Total reclassifications for the period

24.2

1.6

(4.6)

Unrecognized Pension Items

Accumulated Other Comprehensive Income Loss [Line Items]

Total reclassifications for the period

(6.9)

(8.7)

Unrecognized Pension Items | Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Prior service costs

0.7

0.5

0.3

Amortization of actuarial loss

(11.1)

(10.0)

(10.4)

Settlement/curtailment gain/(loss)

1.2

(2.1)

Earnings from continuing operations before income tax provision

(9.2)

(11.6)

(10.1)

Tax (expense) benefit

2.3

2.9

3.4

Net Gains (Losses) on Cash Flow Hedging Derivatives | Reclassification out of Accumulated Other Comprehensive Income

(6.9)

(8.7)

(6.7)

Accumulated Other Comprehensive Income Loss [Line Items]

Earnings from continuing operations before income tax provision

46.6

15.5

2.8

Tax (expense) benefit

(15.5)

(5.2)

(0.7)

Foreign Currency Forward Contracts [Member] | Net Gains (Losses) on Cash Flow Hedging Derivatives | Reclassification out of Accumulated Other Comprehensive Income

31.1

10.3

2.1

Accumulated Other Comprehensive Income Loss [Line Items]

Other income (expense) , net

9.6

1.9

2.7

Interest Rate Swaps [Member] | Net Gains (Losses) on Cash Flow Hedging Derivatives | Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Interest expenses

36.9

13.5

Treasury Lock [Member] | Net Gains (Losses) on Cash Flow Hedging Derivatives | Reclassification out of Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income Loss [Line Items]

Interest expenses

$ 0.1

[1]

During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.

[2]

Other Income (Expense), net - Details of Other Income (Expense), Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Income And Expenses [Abstract]
Interest and dividend income	$ 13.5	$ 15.5	$ 11.0
Net foreign exchange transaction gains (losses)	5.3	(7.8)	(10.5)
Bank fee expense	(5.8)	(5.0)	(6.8)
Net gain on disposals of property and equipment and other	3.3
Other, net	3.6	6.1	(5.6)
Other income (expense), net	$ 19.9	$ 8.8	$ (11.9)

Other Income (Expense), net - Additional Information (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

^[2]

Dec. 31, 2013

Other Commitments [Line Items]

Turkey [Member] | Food Care [Member]

^[1]

$ 5.7

$ 2.1

Other Commitments [Line Items]

Recognized earnings before income tax provision on sale of joint venture

$ 9.0

[1]

[2]

Interest payments in 2014 include $417 million related to the Settlement agreement

Net Earnings per Common Share - Calculation of Basic and Diluted Net Earnings (Loss) Per Common Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2015

^[1]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Numerator

Net earnings available to common stockholders

$ 123.5

$ 86.6

$ 28.1

$ 97.2

$ 66.3

$ 60.8

$ 60.1

$ 70.9

$ 335.4

$ 258.1

^[2]

$ 125.8

^[2]

Distributed and allocated undistributed net earnings to non- vested restricted stockholders

(2.2)

(1.6)

(0.7)

Distributed and allocated undistributed net earnings to common stockholders

333.2

256.5

125.1

Distributed net earnings - dividends paid to common stockholders

(106.2)

(110.1)

(101.3)

Allocation of undistributed net earnings to common stockholders

$ 227.0

$ 146.4

$ 23.8

Denominator

Weighted average number of common shares outstanding - basic

203.9

210.0

194.6

Basic net earnings per common share:

Distributed net earnings to common stockholders

$ 0.52

Allocated undistributed net earnings to common stockholders

1.11

0.70

0.13

Net earnings per common share - basic

$ 0.63

^[3]

$ 0.43

^[3]

$ 0.13

^[3]

$ 0.46

^[3]

$ 0.31

$ 0.29

$ 0.28

$ 0.34

$ 1.63

$ 1.22

$ 0.65

Numerator

Distributed and allocated undistributed net earnings to common stockholders

$ 333.2

$ 256.5

$ 125.1

Add: Allocated undistributed net earnings to unvested restricted stockholders

1.6

1.0

0.2

Less: Undistributed net earnings reallocated to non- vested restricted stockholders

(1.6)

(0.9)

(0.1)

Net earnings available to common stockholders - diluted

$ 333.2

$ 256.6

$ 125.2

Denominator

Weighted average number of common shares outstanding - basic

203.9

210.0

194.6

Effect of assumed issuance of Settlement agreement shares

^[4]

1.6

18.0

Effect of contingently issuable shares

^[4]

1.3

0.9

0.7

Effect of unvested restricted stock units

^[4]

0.7

0.8

0.6

Weighted average number of common shares outstanding - diluted under two-class

205.9

213.3

213.9

Effect of unvested restricted stock - participating security

^[4]

0.8

0.6

0.3

Weighted average number of common shares outstanding - diluted under treasury stock

206.7

213.9

214.2

Diluted net earnings per common share

$ 0.62

^[3]

$ 0.42

^[3]

$ 0.13

^[3]

$ 0.46

^[3]

$ 0.31

$ 0.28

$ 0.33

$ 1.62

$ 1.20

$ 0.58

[1]	During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.
[2]	For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified on the Consolidated Statements of Comprehensive Income (Loss) in deferred pension items and unrealized losses on cash flow hedge derivative instruments. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	The sum of the quarterly per share amounts may not agree to the respective annual amounts due to rounding.
[4]	Provides for the following items if their inclusion is dilutive: (i) the effect of the issuance of 18 million shares of common stock reserved for the Settlement agreement as defined and (ii) the effect of non-vested restricted stock, restricted stock units and contingently issuable shares using the treasury stock method.

Net Earnings per Common Share - Calculation of Basic and Diluted Net Earnings (Loss) Per Common Share (Parenthetical) (Detail) shares in Millions	Dec. 31, 2015 shares
Earnings Per Share [Abstract]
Common stock reserved	18

Net Earnings per Common Share - Additional Information (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Diluted	206.7	213.9	214.2
Performance Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Diluted	1.0	1.0	0.0

Summarized Quarterly Financial Information (Unaudited, in millions, except per share data) (Detail) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2015

^[1]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Net earnings available to common stockholders

$ 1,753.9

$ 1,746.2

$ 1,785.0

$ 1,746.4

$ 1,973.7

$ 1,975.5

$ 1,973.6

$ 1,827.7

$ 7,031.5

$ 7,750.5

$ 7,690.8

Gross profit

636.6

663.8

649.6

672.3

696.1

679.6

639.6

2,586.6

2,687.6

2,589.9

$ 123.5

$ 86.6

$ 28.1

$ 97.2

$ 66.3

$ 60.8

$ 60.1

$ 70.9

$ 335.4

$ 258.1

^[2]

$ 125.8

^[2]

Net earnings per common share - basic

$ 0.63

^[3]

$ 0.43

^[3]

$ 0.13

^[3]

$ 0.46

^[3]

$ 0.31

$ 0.29

$ 0.28

$ 0.34

$ 1.63

$ 1.22

$ 0.65

Net earnings per common share - diluted

$ 0.62

^[3]

$ 0.42

^[3]

$ 0.13

^[3]

$ 0.46

^[3]

$ 0.31

$ 0.28

$ 0.33

$ 1.62

$ 1.20

$ 0.58

[1]	During the fourth quarter of 2015, adjustments were made to prior year provisions which resulted in an increase in earnings per share. Refer to Note 16 “Income Taxes” for further information.
[2]	For the years ended December 31, 2014 and December 31, 2013, certain foreign currency translation adjustments were misclassified on the Consolidated Statements of Comprehensive Income (Loss) in deferred pension items and unrealized losses on cash flow hedge derivative instruments. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	The sum of the quarterly per share amounts may not agree to the respective annual amounts due to rounding.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.