View Filing Data

^[1]

1,060.3

945.7

^[2],[5]

2,855.6

2,909.5

^[1],[2]

Intangible assets, net

710.1

784.3

^[1],[2]

Deferred taxes

210.5

204.7

^[1],[2]

Other non-current assets

^[2]

337.3

345.1

^[1]

Total assets

7,389.1

7,405.0

^[1],[2]

Current liabilities:

Current portion of long-term debt

^[1]

92.6

248.2

^[2]

328.1

46.6

^[1],[2]

Accounts payable

^[1]

885.7

669.0

^[2]

Accrued restructuring costs

44.8

53.6

^[1],[2]

Other current liabilities

767.7

789.7

^[1],[2]

Total current liabilities

2,118.9

1,807.1

^[1],[2]

Long-term debt, less current portion

^[2]

3,938.3

4,266.8

^[1]

Deferred taxes

51.0

75.0

^[1],[2]

Other non-current liabilities

^[1]

671.2

729.0

^[2]

Total liabilities

6,779.4

6,877.9

^[1],[2]

Commitments and contingencies

^[1],[2]

Stockholders’ equity:

Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2016 and 2015

^[1],[2]

Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 227,638,738 in 2016 and 225,625,636 in 2015; shares outstanding: 193,482,383 in 2016 and 196,013,299 in 2015

22.8

22.6

^[1],[2]

Additional paid-in capital

1,974.1

1,915.0

^[1],[2]

Retained earnings

1,040.0

675.2

^[1],[2]

Common stock in treasury, 34,156,355 shares in 2016 and 29,612,337 shares in 2015

(1,478.1)

(1,265.7)

^[1],[2]

Accumulated other comprehensive loss, net of taxes:

Unrecognized pension items

(276.7)

(266.0)

^[1],[2]

Cumulative translation adjustment

(701.9)

(564.0)

^[1],[2]

Unrealized net gain on derivative instruments for net investment hedge

21.0

1.7

^[1],[2]

Unrealized net gain on derivative instruments for cash flow hedge

8.5

8.3

^[1],[2]

Total accumulated other comprehensive loss, net of taxes

^[6]

(949.1)

(820.0)

^[1],[2]

Total stockholders’ equity

609.7

527.1

^[1],[2]

Total liabilities and stockholders’ equity

$ 7,389.1

$ 7,405.0

^[1],[2]

[1]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[3]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[5]	Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.
[6]	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $(8.3) million, $31.1 million and $58.9 million for the years ended December 31, 2016, 2015 and 2014.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Trade receivables, net of allowance for doubtful accounts	$ 20.3	$ 24.9
Inventory reserves	$ 24.9	$ 21.9
Preferred stock, par value per share	$ 0.10	$ 0.10
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	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	227,638,738	225,625,636
Common stock, shares outstanding	193,482,383	196,013,299
Common stock in treasury, shares	34,156,355	29,612,337
Reclassification of cash and cash equivalents to other receivables		$ 6.7
Restatement Adjustment [Member]
Increase to property and equipment, net		15.0
Increase to other non-current liabilities		15.0
Restatement Adjustment [Member] \| Accounting Standards Update 2015-03 and Accounting Standards Update 2015-15 [Member]
Increase to property and equipment, net		15.0
Increase to other non-current liabilities		15.0
Reclassification of accounts payable to short term borrowings		6.3
Reclassification of cash and cash equivalents to other receivables		$ 6.7

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

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Income Statement [Abstract]

Selling, general and administrative expenses

$ 6,778.3

$ 7,031.5

$ 7,750.5

Cost of sales

^[1]

4,246.7

4,444.9

5,062.9

Gross profit

2,531.6

2,586.6

2,687.6

^[1]

1,604.5

1,652.3

1,841.3

Amortization expense of intangible assets acquired

94.9

88.7

118.9

Stock appreciation rights expense

(0.1)

3.9

8.1

^[1]

13.2

78.3

65.7

Operating profit

819.1

763.4

653.6

Interest expense

(213.1)

(227.7)

(287.7)

Foreign currency exchange loss related to Venezuelan subsidiaries

^[2],[3],[4]

(5.7)

(3.4)

(33.1)

(20.4)

^[1]

(46.0)

Gain from Settlement agreement

^[2],[3],[4]

21.1

(Loss) gain on sale of business, net

(0.1)

(110.0)

^[2],[3]

(102.5)

^[2],[3],[4]

(1.8)

13.4

Other income, net

11.2

19.9

8.8

565.9

425.9

267.2

^[5]

79.5

90.5

9.1

Net earnings per common share - basic

$ 486.4

$ 335.4

^[2],[3]

$ 258.1

^[2],[3],[4]

Net earnings per common share:

^[6],[7]

$ 2.49

$ 1.63

$ 1.22

Net earnings per common share - diluted

^[6],[7]

2.46

1.62

1.20

Dividends per common share

$ 0.61

$ 0.52

Weighted average number of common shares outstanding:

Basic

194.3

203.9

210.0

Diluted

^[6]

197.2

206.7

213.9

[1]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further details
[2]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[4]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[5]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.
[6]	The Company early adopted ASU 2016-09 on a prospective basis as required, related to the recognition of excess tax benefits to the Consolidated Statement of Operations which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016, and recognition of excess tax benefits of $18.1 million in the income tax provision for the year ended December 31, 2016. As a result, net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[7]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016 and recognition of excess taxbenefits of $18.1 million in income tax provision for the year ended December 31, 2016. As a result,net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.

Consolidated Statements of Operations (Parenthetical) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Additional diluted weighted average shares due to early adoption of accounting standard

^[1]

197,200,000

206,700,000

213,900,000

Income tax provision (benefit) due to early adoption of accounting standard

^[2]

$ 79.5

$ 90.5

$ 9.1

Additional diluted weighted average shares due to early adoption of accounting standard

536,975

377,130

456,352

404,347

446,747

Income tax provision (benefit) due to early adoption of accounting standard

$ 5.7

$ 1.8

$ 0.0

$ 10.6

$ 18.1

Earnings per common share net increase due to early adoption of accounting standard

$ 0.04

$ 0.01

$ 0

$ 0.05

Accounting Standards Update 2016-09 [Member] | Restatement Adjustment [Member]

Additional diluted weighted average shares due to early adoption of accounting standard

446,747

Income tax provision (benefit) due to early adoption of accounting standard

$ (18.1)

Earnings per common share net increase due to early adoption of accounting standard

$ 0.10

[1]

The Company early adopted ASU 2016-09 on a prospective basis as required, related to the recognition of excess tax benefits to the Consolidated Statement of Operations which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016, and recognition of excess tax benefits of $18.1 million in the income tax provision for the year ended December 31, 2016. As a result, net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.

[2]

Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.

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

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Other comprehensive income (loss), net of taxes:

$ 486.4

$ 335.4

^[1],[2]

$ 258.1

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

Recognition of deferred pension items, net of taxes of $2.4 for 2016, $5.4 for 2015 and $36.0 for 2014

(10.7)

(15.9)

(106.8)

Foreign currency translation adjustments, net of tax of $(19.8) million for 2016, $16.9 million for 2015, $6.6 million in 2014

(137.9)

(194.1)

(232.2)

Comprehensive income (loss), net of taxes

(129.1)

(206.2)

(336.4)

357.3

129.2

(78.3)

Net Investment Hedge [Member]

Other comprehensive income (loss), net of taxes:

Unrealized losses on derivative instruments, net of taxes

19.3

1.7

Cash Flow Hedge [Member]

Other comprehensive income (loss), net of taxes:

Unrealized losses on derivative instruments, net of taxes

$ 0.2

$ 2.1

$ 2.6

[1]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[3]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Recognition of deferred pension items, taxes	$ 2.4	$ 5.4	$ 36.0
Foreign currency translation adjustments, tax	(19.8)	16.9	6.6
Net Investment Hedge [Member]
Unrealized losses on derivative instruments, taxes	(12.0)	(1.1)
Cash Flow Hedge [Member]
Unrealized losses on derivative instruments, taxes	$ (0.1)	$ 0.3	$ (1.7)

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]

Beginning 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

Recognition of deferred pension items, net of taxes

(184.0)

(106.8)

Foreign currency translation adjustments

(232.2)

Unrealized gain on derivative instruments, net of taxes

2.6

37.7

1.8

$ (1.8)

37.7

Noncontrolling interests

(1.8)

(0.4)

$ (1.4)

Dividends on common stock

258.1

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

258.1

(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

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

Recognition of deferred pension items, net of taxes

(802.0)

(15.9)

Foreign currency translation adjustments

(194.1)

Unrealized gain on derivative instruments, net of taxes

3.8

^[4]

46.2

Dividends on common stock

335.4

^[1],[2]

335.4

(108.7)

Ending Balance at Dec. 31, 2015

527.1

22.6

1,915.0

675.2

(1,265.7)

(820.0)

527.1

Effect of contingent stock transactions

29.2

59.9

(30.7)

29.2

Stock issued for share-based incentive compensation

37.6

0.2

2.1

35.3

37.6

Recognition of deferred pension items, net of taxes

(217.0)

(10.7)

Foreign currency translation adjustments

(137.9)

Unrealized gain on derivative instruments, net of taxes

19.5

(2.9)

Dividends on common stock

486.4

(121.6)

Ending Balance at Dec. 31, 2016

$ 609.7

$ 22.8

$ 1,974.1

$ 1,040.0

$ (1,478.1)

$ (949.1)

$ 609.7

[1]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[3]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[4]	In 2015, we recorded an out-of-period adjustment of $46.2 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, 2016

Dec. 31, 2015

Dec. 31, 2014

Statement Of Stockholders Equity [Abstract]

Dividends per share on common stock

$ 0.61

$ 0.52

$ (46.2)

$ (37.7)

$ (2.9)

$ 46.2

^[1]

$ 37.7

[1]	In 2015, we recorded an out-of-period adjustment of $46.2 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, 2016

Dec. 31, 2015

Dec. 31, 2014

Statement Of Cash Flows [Abstract]

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

$ 486.4

$ 335.4

^[1],[2]

$ 258.1

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

214.0

213.3

^[1],[2]

266.7

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

59.9

61.2

^[1],[2]

54.1

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

Profit sharing expense

24.6

36.0

^[1],[2]

36.7

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

Remeasurement loss related to Venezuelan subsidiaries

0.1

110.0

^[1],[2]

102.5

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

3.4

33.1

^[1],[2]

20.4

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

Development grant matter

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

14.0

Provisions (recovery) for inventory obsolescence

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

5.7

Asset impairment

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

4.0

Provisions for bad debt

4.3

5.8

^[1],[2]

8.0

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

6.4

(0.2)

^[1],[2]

9.2

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

Gain from Claims Settlement

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

(21.1)

Deferred taxes, net

(61.7)

(22.6)

^[1],[2]

146.2

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

Excess tax benefit from Common stock issued in the Settlement agreement

^[1],[2]

(46.2)

(37.7)

^[3]

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

0.9

(3.3)

^[1],[2]

0.8

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

Other non-cash items, net

(8.4)

4.9

^[1],[2]

0.4

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

Changes in operating assets and liabilities:

Trade receivables, net

(33.9)

36.7

^[1],[2]

(27.8)

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

Settlement agreement and related items

(17.1)

(38.3)

^[1],[2]

(48.7)

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

Accounts payable

228.0

81.4

^[1],[2]

140.1

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

Income tax receivable

7.3

32.2

^[1],[2]

(214.6)

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

^[1],[2]

235.2

(929.7)

^[3]

Other assets and liabilities

(55.2)

(67.9)

^[1],[2]

(6.1)

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

Net cash provided by (used in) operating activities

906.9

982.1

^[1],[2]

(218.8)

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

^[4]

(46.0)

(Gain) loss on sale of business

(1.9)

24.6

^[1],[2]

Cash flows from investing activities:

Capital expenditures

(275.7)

(184.0)

^[1],[2]

(153.9)

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

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

7.8

94.6

^[1],[2]

(5.8)

(27.5)

^[1],[2]

(3.6)

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

Proceeds from sales of property, equipment and other assets

4.9

32.9

^[1],[2]

16.1

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

Settlement of foreign currency forward contracts

(46.0)

24.0

^[1],[2]

15.1

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

Net cash used in investing activities

(314.8)

(60.0)

^[1],[2]

(126.3)

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

Cash flows from financing activities:

Net (payments) proceeds from short-term borrowings

(154.2)

111.2

^[1],[2]

79.1

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

Cash used as collateral on borrowing arrangements

3.6

(20.5)

^[1],[2]

(36.2)

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

Proceeds from long-term debt

^[1],[2]

855.0

2,282.6

^[3]

Payments of long-term debt

(27.1)

(754.3)

^[1],[2]

(2,290.6)

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

Excess tax benefit from common stock issued in the Settlement agreement

^[1],[2]

46.2

37.7

^[3]

Dividends paid on common stock

(121.6)

(106.8)

^[1],[2]

(110.9)

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

Payments for debt issuance costs

(217.0)

(802.0)

^[1],[2]

(184.0)

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

^[1],[2]

(8.8)

(24.3)

^[3]

Payments for debt extinguishment costs

(0.1)

(99.4)

^[1],[2]

(74.7)

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

Acquisition of common stock for tax withholding

(30.7)

(9.3)

^[1],[2]

(3.0)

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

Other financing activities

6.2

3.1

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

Net cash used in financing activities

^[5]

(540.9)

(788.7)

^[1],[2]

(321.2)

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

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

(39.2)

(60.4)

^[1],[2]

(37.4)

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

Net change in cash and cash equivalents

12.0

73.0

^[1],[2]

(703.7)

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

Balance, beginning of period

^[1],[2]

351.7

^[6],[7]

278.7

^[3]

982.4

^[3]

Net change during the period

12.0

73.0

^[1],[2]

(703.7)

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

Balance, end of period

363.7

^[7]

351.7

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

278.7

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

Supplemental Cash Flow Information:

Interest payments, net of amounts capitalized

215.1

229.7

^[1],[2]

710.4

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

Income tax payments

125.8

101.6

^[1],[2]

85.1

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

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

1.9

20.7

^[1],[2]

21.1

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

Restructuring payments including associated costs

66.1

98.3

^[1],[2]

108.1

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

Non-cash items:

Transfers of shares of our common stock from treasury for our 2015, 2014, and 2013 profit-sharing plan contributions

$ 37.6

$ 36.7

^[1],[2]

33.2

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

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

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

$ 1.8

[1]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[3]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[4]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further details
[5]	The Company early adopted ASU 2016-09 on a retrospective basis related to the classification of excess tax benefits on the Statement of Cash Flows, effective January 1, 2016, which resulted in an increase in operating cash flow of $6.8 million and a decrease in financing activities of $6.8 million for the year ended December 31, 2016 and an increase in operating cash flow of $13.1 million and a decrease in financing activities of $13.1 million for the year ended December 31, 2015. There was no impact on the year ended December 31, 2014. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details
[6]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[7]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.

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				$ 416.6
Tax refund related to settlement agreement payment		$ 235.2	$ (929.7)
Excess tax benefits from settlement agreement	$ 37.7			$ (37.7)
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, 2016
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, 2016

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.

Reclassifications and Revisions

The Consolidated Balance Sheet as of December 31, 2015 has been revised to properly reflect asset retirement obligations. This revision resulted in an increase to property and equipment, net, as well as other non-current liabilities of $15.0 million as of December 31, 2015.

For the years ended December 31, 2015 and 2014, certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet and Consolidated Statement of Cash Flows. The revision of this item resulted in a decrease of $6.4 million in accounts payable and an increase of $6.4 million in short-term borrowings as of December 31, 2014 and a decrease of $6.3 million in accounts payable and an increase of $6.3 million in short-term borrowings as of December 31, 2015 related to extended payment terms on a vendor agreement on the Consolidated Balance Sheet. The revision of these items on the Consolidated Statement of Cash Flows resulted in a decrease to cash used in operating activities and an increase to cash used in financing activities of $6.4 million for the year ended December 31, 2014 and an increase to cash provided by operating activities and a decrease to cash used in financing activities of $0.1 million for the year ended December 31, 2015.

Additionally, for the periods ended December 31, 2015 and 2014 reclassifications were made on the Consolidated Balance Sheet and Consolidated Statement of Cash Flows due to changes in the accounting treatment of a factoring agreement. As a result, the Company reclassified $6.7 million and $7.5 million from cash and cash equivalents to other receivables, respectively. This reclassification resulted in an increase in cash provided (used in) by operating activities of $0.8 million for the year ended December 31, 2015 and $2.4 million for the year ended December 31, 2014.

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,” of the Notes to Consolidated Financial Statements 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:

•

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

•

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

•

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

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,” of the Notes to Consolidated Financial Statements 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.

2014 Activity

In January 2014, the government expanded the use of the Supplementary Foreign Currency Administration System, known as the 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 U.S. dollars:

•

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.

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 $20.4 million in 2014.

2015 Activity

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 12.0 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 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 had no auctions held since October 2014. However, in June 2015 an auction was held for the automotive parts and school supplies industries.

Therefore, in 2015 there were three legal mechanisms to exchange bolivars for U.S. dollars:

•

CENCOEX at the official rate of 6.3;

•

SICAD auction process at the awarded exchange rate (opening rate at 12.0 and at December 31, 2015 it was 13.5); and

•

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 would use the SIMADI rate to remeasure our bolivar denominated monetary assets and liabilities since it was our only legally available option and our intent on a go-forward basis to utilize this market to settle any future transactions based on then current facts and circumstances. During 2015, the Company did not receive U.S. dollars via the CENCOEX official rate of 6.3. We were only able to access the SIMADI market and only received minimal amounts of U.S. dollars. As a result of this evaluation, the Company reported a remeasurement loss of $33.1 million for the year ended December 31, 2015.

2016 Activity

On February 17, 2016, the Venezuelan government made further changes to the exchange rates including a further devaluation and on March 9, 2016 published in Exchange Agreement No. 35 further rules governing foreign exchange transactions which were effective March 10, 2016. This includes the following key changes:

•

The preferential rate for essential goods and services was changed from 6.3 to 10.0 bolivars per U.S. dollar and is no longer called CENCOEX but is now the DIPRO;

•

The SICAD rate was eliminated which reduced the number of legal mechanisms from three down to only two; and

•

Eliminated the SIMADI rate which was replaced by the DICOM rate which will be allowed to float freely beginning at a rate of approximately 203.0 bolivars to U.S. dollar.

At December 31, 2016, we evaluated which legal mechanisms were available to our Venezuelan subsidiaries to access U.S. dollars. As noted above, the SIMADI rate was replaced with the DICOM rate. Consistent with our evaluation completed in the first, second and third quarters of 2016, we concluded that we will continue to use the DICOM 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 if needed, to settle any future transactions based on current facts and circumstances. The DICOM rate as of December 31, 2016 was 673.7617.

We will continue to evaluate each reporting period the appropriate exchange rate to remeasure our financial statements based on the facts and circumstances as applicable.

During 2016, we were only able to access the SIMADI market (during the period the market was available) and only received minimal amounts of U.S. dollars during the first three months of 2016. We did not receive any U.S. dollars via the CENCOEX (at an official rate of 6.3) or the DIPRO (at an official rate of 10.0). We expect that we will only have limited access to the DIPRO market to settle certain past transactions. However, if the option becomes available to us to use the DIPRO in the future, the Company will consider this further, as needed. 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 $3.4 million for the year ended December 31, 2016.

Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Foreign exchange control regulations have affected our Venezuelan subsidiaries’ ability to obtain inventory and maintain normal production. This resulted in total costs of $53.0 million being incurred which included the following (i) a voluntary reduction in headcount including severance and termination benefits for employees of $0.3 million, (ii) depreciation and amortization expense related to fixed assets and intangibles of $4.8 million, (iii) inventory reserves of $0.9 million and (iv) income tax expense of $1.0 million and (v) the reclassification of $46.0 million of cumulative translation adjustment resulting in a charge to Net income as the Company’s decision to cease operations is similar to a substantially complete liquidation.

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 10% of gross sales in 2016 and approximately 9% of gross sales in 2015 and 2014. We expect 2017 rebates and other allowances to be approximately the same percentage of gross sales as in 2016.

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 $130.8 million in 2016, $129.3 million in 2015 and $134.6 million in 2014.

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,” of the Notes to the Consolidated Financial Statements 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. The Company accelerates expense using a graded vesting schedule for employees who meet retirement eligibility requirements prior to the end of the award’s service period. For performance-based awards, 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. For market based awards, the fair value of the award is determined at the grant date and is recognized at 100% over the performance period regardless of actual market condition performance.

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 previous 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,” of the Notes to Consolidated Financial Statements 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” of the Notes to Consolidated Financial Statements 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 deteriorate.

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 Statements 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.

Asset Retirement Obligations

The company records asset retirement obligations at fair value at the time the liability is incurred if a reasonable estimate of fair value can be made. Accretion expense is recognized as an operating expense using the credit-adjusted risk-free interest rate in effect when the liability was recognized. The associated asset retirement obligations are capitalized as part of the carrying amount of the long-lived asset and depreciated over the estimated remaining useful life of the asset. The useful lives of property and equipment are discussed previously in the Property and Equipment, net section.

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 10% and 11% in 2016 and 2015, respectively, 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 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 we re-evaluate whether continuing to characterize the asset as indefinite-lived is appropriate. See Note 7, “Goodwill and Identifiable Intangible Assets” of the Notes to Consolidated Financial Statements 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. and 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 and plan assets is December 31 for all material plans (November 30 for non-material 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,” of the Notes to Consolidated Financial Statements 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 was calculated using the two-class method since such method was more dilutive.

See Note 21, “Net Earnings Per Common Share,” of the Notes to Consolidated Financial Statements for further discussion.

Recently Adopted Accounting Standards

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Updates (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 simplifies the accounting for share-based payment award transactions including: income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. ASU 2016-09 is effective for annual periods beginning after December 15, 2016, including interim periods within those annual periods. Early adoption is permitted. The Company elected to early adopt ASU 2016-09 in the third quarter of 2016 which required us to reflect any adjustments as of January 1, 2016, the beginning of the annual period that includes the interim period of adoption.

Accounting for Income Taxes

Under previous guidance, excess tax benefits and certain tax deficiencies from share-based compensation arrangements were recorded in additional paid-in-capital within equity when the awards vested or were settled. ASU 2016-09 requires that all excess tax benefits and all tax deficiencies be recognized as income tax expense or benefit in the income statement and adoption is on a prospective basis. The adoption resulted in the recognition of excess tax benefits in our provision for income taxes rather than in additional paid-in capital, as follows:

	Year Ended
	December 31,
(In millions)	2016
Excess tax benefit	$	18.1

ASU 2016-09 also requires excess tax benefits to be prospectively excluded from assumed future proceeds in the calculation of diluted shares. As a result of the above changes, it resulted in an increase in the Company’s diluted weighted average number of common shares outstanding as follows:

	Year Ended
	December 31,
	2016
Increase in diluted weighted average number of common shares outstanding		446,747

The changes resulted in an increase in basic and diluted EPS as follows:

	Year Ended
	December 31,
	2016
Basic EPS prior to adoption of ASU 2016-09	$	2.39
Basic EPS upon adoption of ASU 2016-09	$	2.49

Diluted EPS prior to adoption of ASU 2016-09	$	2.36
Diluted EPS upon adoption of ASU 2016-09	$	2.46

Classification of Excess Tax Benefits on the Statement of Cash Flows

In addition, under ASU 2016-09, excess income tax benefits from stock-based compensation arrangements are classified as cash flows from operations, rather than as an inflow within financing activities and as an outflow within operating activities. The Company has elected to apply the cash flow classification guidance of ASU 2016-09 retrospectively. There was not a material impact on the year-end December 31, 2014. The retrospective impact on the Consolidated Statement of Cash Flows was as follows:

	Year Ended			Year Ended
	December 31,			December 31,
(In millions)	2016			2015
Impact on Net Cash provided by Operating Activities	$	6.8		$	13.1
Imapct on Net Cash used in Financing Activities	$	(6.8	)	$	(13.1	)

In November 2015, FASB issued 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 adopted this standard as of December 31, 2015 with retrospective application.

In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). 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. We have adopted this amendment as of January 1, 2016 on a prospective basis as required and any adjustments to the provisional amounts identified during the measurement period were immaterial.

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 were effective as of January 1, 2016. ASU 2015-12 did not have a material impact on our financial statements.

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 or 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 have adopted this amendment as of January 1, 2017 and do not expect this to have a material impact on our financial statements.

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 simplifies the presentation of debt issuance costs. It requires 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 Emerging Issues Task Forces (“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 have adopted these standards as of January 1, 2016 with retrospective application. Adoption of ASU 2015-03 and ASU 2015-15 resulted in a decrease in other non-current assets of $35.9 million and a decrease in long-term debt of $35.9 million as of December 31, 2015 on the Consolidated Balance Sheet.

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 helps 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. We have adopted this amendment on January 1, 2016 on a prospective basis as required. The adoption of ASU 2015-05 did not have a material impact on the financial statements.

In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements – Going Concern (Subtopic - 205-40) (“ASU 2014-15”).This ASU requires management to evaluate whether it is probable that known conditions or events, considered in the aggregate, would raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. If such conditions or events are identified, the standard requires management’s mitigation plans to alleviate the doubt or a statement of the substantial doubt about the entity’s ability to continue as a going concern to be disclosed in the financial statements. The amendments in ASU 2014-15 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. We adopted this amendment on December 31, 2016. The adoption of ASU 2014-15 did not have a material impact on the financial statements

Recently Issued Accounting Standards

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 eliminates Step 2 as part of the goodwill impairment test. The amount of the impairment charge to be recognized would now be the amount by which the carrying value exceeds the reporting unit’s fair value. The loss to be recognized can not exceed the amount of goodwill allocated to that reporting unit. The amendments in ASU 2017-04 are effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim and annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently in the process of evaluating this new standard update.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 provides a screen to determine when a set is not a business. This screen states that when substantially all of the fair value of the group assets acquired (or disposed of) is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. The amendments in ASU 2017-01 are effective for annual periods beginning after December 15, 2017, including interim periods within those periods. Early application is permitted for transactions for which the acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued. We are currently in the process of evaluating this new standard update.

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). ASU 2016-18 requires that entities include restricted cash and restricted cash equivalents with cash and cash equivalents in the beginning-of-period and end-of-period total amounts shown on the Statement of Cash Flows. The amendments in ASU 2016-18 are effective for fiscal years beginning after December 15, 2017, including interim reporting periods within those fiscal years. Early adoption, including adoption in interim periods, is permitted for all entities. Retrospective transition method is to be applied to each period presented. We are currently in the process of evaluating this new standard update.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory (“ASU 2016-16”). ASU 2016-16 requires entities to recognize income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The amendments in ASU 2016-16 are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within those annual reporting periods. Early adoption is permitted for all entities as of the beginning of an annual reporting period for which financial statements have not been issued or made available for issuance. We are currently in the process of evaluating this new standard update.

In August 2015, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 provides guidance on eight specific cash flow issues in regard to how cash receipts and cash payments are presented and classified in the statement of cash flows. The amendments in ASU 2016-15 are effective for fiscal years beginning after December 15, 2017, including interim periods within those years, with early adoption permitted. We are currently in the process of evaluating this new standard update.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model which includes historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. The ASU also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal periods. Entities may adopt earlier as of the fiscal year beginning after December 15, 2018, including interim periods within those fiscal years. We are currently in the process of evaluating this new standard update.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), (“ASU 2016-02”). This ASU requires an entity to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. Similar modifications have been made to lessor accounting in-line with revenue recognition guidance. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. The amendments in ASU 2016-02 are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The updated guidance requires a modified retrospective adoption. We are currently in the process of evaluating this new standard update.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). 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 May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), (“ASU 2014-09”) and issued subsequent amendments to the initial guidance in August 2015, March 2016, April 2016 and May 2016 within ASU 2015-04, ASU 2016-08, ASU 2016-10 and ASU 2016-12, respectively (ASU 2014-09, ASU 2015-04, ASU 2016-08, ASU 2016-10 and ASU 2016-12 collectively, Topic 606). 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. 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. The amendments in ASU 2016-08, ASU 2016-10 and ASU 2016-12 are effective in conjunction with ASU 2015-14.

The guidance permits two methods of adoption: full retrospective in which the standard is applied to all of the periods presented or modified retrospective where an entity will have to recognize the cumulative effect of initially applying the standard as an adjustment to the opening balance of retained earnings. We currently anticipate adopting the modified retrospective method.

Our efforts to adopt this standard to date have focused on contract analysis at a regional level. We currently estimate the most significant impact will be on the accounting for Free on Loan equipment in our Food Care division and global contracts in our Diversey Care division. Whereas today we do not recognize revenue on Free on Loan equipment, under the new standard, we anticipate allocating revenue to that equipment and treating it as a performance obligation. We are in the process of assessing the timing of when revenue assigned to Free on Loan equipment would be recognized. We have not completed our analysis at a segment level, and are in the process of quantifying the potential impact of the new standard.

Divestitures and Acquisitions

12 Months Ended

Dec. 31, 2016

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 $75.6 million, net of certain purchase price adjustments of $5.9 million and subject to final purchase price adjustment. After transaction costs of $7.0 million, we recorded a $26.5 million pre-tax gain on sale of business, which is included in (Loss) gain on sale of business, net in the Consolidated Statement of Operations for the year ended December 31, 2015. Subsequent to December 31, 2015, we recorded an additional pre-tax loss on the sale of business primarily due to additional transaction costs of $0.2 million. This resulted in cumulative transaction costs of $7.2 million. This resulted in a cumulative pre-tax gain of $26.3 million on the sale of business. 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 .

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 were as follows:

	April 1,
(In millions)	2015
Assets:
Inventories	$	15.2
Prepaid expenses		0.1
Property and equipment, net		22.6
Goodwill		6.9
Assets	$	44.8

Liabilities:
Accrued liabilities		2.7
Liabilities	$	2.7

For the years ended December 31, 2015 and 2014, the North American foam trays and absorbent pads businesses contributed approximately $52.9 million and $213.9 million of net sales; and $10.3 million and $37.4 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 at that time of €17.6 million or approximately $19.0 million, net of certain purchase price adjustments of €1.7 million or approximately $1.9 million. We recorded a $13.1 million pre-tax loss on the sale of business, which is included in (Loss) gain on sale of business, net in the Consolidated Statement of Operations for the year ended December 31, 2015.

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. Subsequent to December 31, 2015, we recorded an additional pre-tax loss on the sale of business primarily due to a reduction in the net proceeds of $1.6 million. This resulted in cumulative net proceeds of €16.5 million or approximately $17.7 million.

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. 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 were as follows:

	November 1,
(In millions)	2015
Assets:
Receivables, net	$	0.2
Inventories, net		6.0
Other current assets		0.8
Property and equipment, net		22.4
Goodwill		1.5
Other non-current assets		0.4
Assets	$	31.3

Liabilities:
Accounts payable		1.6
Accrued liabilities		2.1
Other current liabilities		0.6
Long term debt		0.4
Other non-current liabilities		0.1
Liabilities	$	4.8

For the years ended 2015 and 2014, the European food trays business contributed approximately $48.7 million and $70.9 million of net sales; and $6.9 million and $5.2 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.

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 $17.9 million which included cash paid of $8.5 million and $9.4 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 $11.0 million of intangible assets. Goodwill of $6.6 million was recorded and 100% will be deductible for tax purposes.

The contingent consideration, which is classified as a liability, includes an estimate of 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, 2016 and 2015 was $7.3 million and $9.8 million, respectively, primarily included in non-current liabilities on the Consolidated Balance Sheet. The change due to fair value of $2.2 million in 2016 and $0.5 million in 2015 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 applicable remaining 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 $19.0 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 $15.3 million of intangible assets. Goodwill of $6.4 million was recorded and none will be deductible for tax purposes.

Segments

12 Months Ended

Dec. 31, 2016

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 U.S. GAAP net earnings to Non-U.S. GAAP Total Company Adjusted EBITDA 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)	2016			2015			2014
Net Sales:
Food Care	$	3,222.1		$	3,405.1		$	3,835.3
As a % of Total Company net sales		47.5	%		48.4	%		49.5	%
Diversey Care		1,963.2			1,999.1			2,173.1
As a % of Total Company net sales		29.0	%		28.4	%		28.0	%
Product Care⁽¹⁾		1,523.7			1,553.6			1,662.6
As a % of Total Company net sales		22.5	%		22.1	%		21.5	%
Other⁽¹⁾		69.3			73.7			79.5
Total Company Net Sales		6,778.3			7,031.5			7,750.5

	Year Ended December 31,
(In millions)	2016			2015			2014
Adjusted EBITDA:
Food Care	$	661.1		$	689.8		$	670.2
Adjusted EBITDA Margin		20.5	%		20.3	%		17.5	%
Diversey Care		251.3			231.9		245
Adjusted EBITDA Margin		12.8	%		11.6	%		11.3	%
Product Care⁽¹⁾		331.8			324.1		293.7
Adjusted EBITDA Margin		21.8	%		20.9	%		17.7	%
Other⁽¹⁾		(87.2	)		(71.7	)		(90.6	)
Non-U.S. GAAP Total Company Adjusted EBITDA		1,157.0			1,174.1			1,118.3
Adjusted EBITDA Margin		17.1	%		16.7	%		14.4	%

⁽¹⁾

As of January 1, 2016, our Kevothermal business was moved from Other to our Product Care Segment. This resulted in a reclassification of $13.1 million of net sales and $3.1 million of adjusted EBITDA for the year ended December 31, 2015 and $7.6 million of net sales and $1.0 million of adjusted EBITDA for the year ended December 31, 2014.

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

	Year Ended December 31,
(In millions)	2016			2015			2014
Net earnings	$	486.4		$	335.4		$	258.1
Interest expense		(213.1	)		(227.7	)		(287.7	)
Income tax provision⁽¹⁾		79.5			90.5			9.1
Depreciation and amortization⁽⁴⁾		(278.2	)		(274.5	)		(320.8	)
Depreciation and amortization adjustments⁽¹⁾⁽²⁾	5.4			0.2			2.1
Special Items:
Restructuring and other charges⁽¹⁾⁽⁵⁾		(12.9	)		(78.3	)		(65.7	)
Other restructuring associated costs included in cost of sales and selling, general and administrative expenses		(28.0	)		(42.9	)		(35.8	)
Development grant matter included in selling, general and administrative expenses		—			—			(14.0	)
Termination of licensing agreement		—			—			(5.3	)
SARs		0.1			(3.9	)		(8.1	)
Impairments of equity method investment		—			—			(5.7	)
Foreign currency exchange (loss) gains related to Venezuelan subsidiaries		(3.4	)		(33.1	)		(20.4	)
Charges related to ceasing operations in Venezuela⁽¹⁾		(52.1	)		—			—
Loss on debt redemption and refinancing activities		(0.1	)		(110.0	)		(102.5	)
Gain from Settlement agreement in 2014 and related costs		—			—			21.1
(Loss) gain on sale of North American foam trays and absorbent pads business and European food trays business		(1.8	)		13.4			—
Non-operating charge for contingent guarantee included in other income (expense), net		—			—			(2.5	)
(Loss) gain related to the sale of other businesses, investments and property, plant and equipment		(1.6	)		11.1			(5.1	)
Charges incurred related to pursuit of strategic alternatives of New Diversey		(6.7	)		—			—
Other Special Items⁽³⁾		1.3			(2.5	)		(0.7	)
Pre-tax impact of Special Items		(105.2	)		(246.2	)		(244.7	)
Non-U.S. GAAP Total Company Adjusted EBITDA	$	1,157.0		$	1,174.1		$	1,118.3

⁽¹⁾

⁽²⁾	This includes accelerated depreciation of non-strategic assets related to restructuring programs which were $0.6 million, $0.2 million and $2.1 million for the years ended December 31, 2016, 2015 and 2014, respectively.

⁽³⁾

Other Special Items for the year ended December 31, 2016 primarily included a reduction in a non-income tax reserve following the completion of a governmental audit partially offset by legal fees associated with restructuring and acquisitions. Other Special Items for the year ended December 31, 2015 primarily included legal fees associated with restructuring and acquisitions. Other Special Items for the year ended December 31, 2014 primarily included legal fees associated with restructuring and acquisitions.

⁽⁴⁾	Depreciation and amortization by segment is as follows:

	Year Ended December 31,

(In millions)	2016		2015		2014
Food Care	$	102.4	$	107.9	$	121.3
Diversey Care		94.6		105.5		126.3
Product Care		40.1		37.4		41.4
Other		41.1		23.7		31.8
Total Company depreciation and amortization⁽ⁱ⁾	$	278.2		274.5		320.8

⁽ⁱ⁾	Includes share-based incentive compensation of $62.9 million in 2016, $61.2 million in 2015, and $54.1 million in 2014.

⁽⁵⁾	Restructuring and other charges by segment were as follows:

	Year Ended December 31,
(In millions)	2016		2015		2014
Food Care	$	6.2	$	37.9	$	27.3
Diversey Care		3.7		22.2		24.3
Product Care		2.9		17.2		13.6
Other		0.1		1.0		0.5
Total Company restructuring and other charges⁽ⁱ⁾	$	12.9	$	78.3	$	65.7

⁽ⁱ⁾	For the year ended December 31, 2016 restructuring and other charges excludes $0.3 million related to severance and termination benefits for employees in our Venezuelan subsidiaries.

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)	2016		2015
Assets:
Trade receivables, net, and finished goods inventories, net
Food Care	$	599.6	$	522.4
Diversey Care		451.9		440.3
Product Care⁽¹⁾		261.5		221.9
Other⁽¹⁾		13.9		12.5
Total segments and other		1,326.9		1,197.1
Assets not allocated
Cash and cash equivalents		363.7		351.7
Property and equipment, net		1,060.3		945.7
Goodwill		2,855.6		2,909.5
Intangible assets, net		710.1		784.3
Assets held for sale		3.3		10.3
Other		1,069.2		1,206.4
Total	$	7,389.1	$	7,405.0

⁽¹⁾	As of January 1, 2016, our Kevothermal business was moved from Other to our Product Care Segment. This resulted in a re-classification of $2.3 million of assets from Other to Product Care Segment for the year ended December 31, 2015.

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,” of the Notes to Consolidated Financial Statements for the allocation of goodwill and identifiable intangible assets and the changes in their balances in the year ended December 31, 2016 by our segment reporting structure, and the details of our impairment review.

Geographic Information

	Year Ended December 31,
(In millions)	2016		2015		2014
Net sales⁽¹⁾:
North America⁽³⁾	$	2,852.8	$	2,923.2	$	3,071.9
EMEA		2,302.5		2,410.4		2,783.2
Latin America		641.1		695.8		807.5
APAC		981.9		1,002.1		1,087.9
Total	$	6,778.3	$	7,031.5	$	7,750.5

Total long-lived assets⁽¹⁾⁽²⁾:
North America	$	708.2	$	585.7
EMEA		370.3		385.5
Latin America		114.9		127.0
APAC		204.2		192.6
Total⁽⁴⁾	$	1,397.6	$	1,290.8

⁽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, 2016, 2015, or 2014 or long-lived assets in excess of 10% of consolidated long-lived assets at December 31, 2016 and 2015.

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

⁽³⁾	Net sales to external customers within the U.S. were $2,635.2 million for the year ended December 31, 2016, $2,685.3 million for the year ended December 31, 2015 and $2,797.5 million for the year ended December 31, 2014.

⁽⁴⁾

As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification of $35.9 million from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Additionally, property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.

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, 2016

Inventory Disclosure [Abstract]

Property Plant And Equipment [Abstract]

Note 5 Inventories

The following table details our inventories:

	December 31,		December 31,
(In millions)	2016		2015
Inventories, net:
Raw materials	$	115.3	$	109.6
Work in process		116.4		112.4
Finished goods		428.2		438.8
Total	$	659.9	$	660.8

For the year ended December 31, 2016 cost of sales included a $6.8 million reimbursement of previously incurred environmental expenses, of which $5.6 million impacted the Diversey Care division.

Property and Equipment, net

12 Months Ended

Dec. 31, 2016

Property and Equipment, net

Note 6 Property and Equipment, net

The following table details our property and equipment.

	December 31,			December 31,
(In millions)	2016			2015⁽¹⁾
Land and improvements	$	88.3		$	86.7
Buildings		665.0			606.2
Machinery and equipment⁽²⁾		2,183.9			2,141.3
Other property and equipment		151.2			139.9
Construction-in-progress⁽²⁾		227.5			190.7
Property and equipment, gross		3,315.9			3,164.8
Accumulated depreciation and amortization⁽³⁾		(2,255.6	)		(2,219.1	)
Property and equipment, net	$	1,060.3		$	945.7

⁽¹⁾	Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.

⁽²⁾	As of December 31, 2015, amounts related to fixed assets in North America remained in construction-in-progress after the assets had been capitalized. As a result, $4.2 million should have been reclassified from construction-in-progress to machinery and equipment.

⁽³⁾

As of December 31, 2016, this amount includes $0.5 million related to the accelerated depreciation and amortization of fixed assets related to ceasing operations in Venezuela. See Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the Impact of Inflation and Currency Fluctuation section 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 years ended December 31.


	Year Ended December 31,
(In millions)	2016		2015		2014
Interest cost capitalized	$	11.0	$	5.4	$	6.2
Depreciation and amortization expense for property and equipment	$	120.5	$	124.6	$	147.8

Goodwill and Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2016

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 annual goodwill impairment test in the fourth quarter of 2016, 2015 and 2014, we performed a quantitative test for all of our reporting units that have goodwill allocated.

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.

2016, 2015 and 2014 Annual Impairment Test

During the fourth quarters of 2016, 2015 and 2014, 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⁽¹⁾			Total
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
Acquisition		8.4			—			—			—			8.4
Dispositions		—			—			(1.1	)		—			(1.1	)
Currency translation		(14.3	)		(46.2	)		(0.5	)		(0.2	)		(61.2	)
Gross Carrying Value at December 31, 2016		798.4			1,774.7			1,372.1			1.4			3,946.6
Accumulated impairment		(208.0	)		(883.0	)		—			—			(1,091.0	)
Carrying Value at December 31, 2016	$	590.4		$	891.7		$	1,372.1		$	1.4		$	2,855.6

⁽¹⁾	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 2016 annual impairment test were the following:


	% by Which Estimated Fair value
Reporting Unit	exceeds Carrying Value
Food Care — Packaging Solutions		451	%
Food Care — Hygiene Solutions		247	%
Diversey Care		92	%
Product Care		124	%
Medical Applications⁽¹⁾		539	%

⁽¹⁾	Included in the “Other” category for segment reporting purposes – See Note 4, “Segments,” of the Notes to Consolidated Financial Statements 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 2016 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, 2016										December 31, 2015
	Gross										Gross
	Carrying		Accumulated			Accumulated					Carrying		Accumulated			Accumulated
(In millions)	Value		Amortization			Impairment			Net		Value		Amortization			Impairment			Net
Customer relationships⁽¹⁾	$	828.7	$	(299.9	)	$	(148.9	)	$	379.9	$	846.2	$	(249.4	)	$	(148.9	)	$	447.9
Trademarks and tradenames		1.8		(0.8	)		—			1.0		1.7		(0.4	)		—			1.3
Capitalized software		165.9		(137.4	)		—			28.5		143.0		(125.3	)		—			17.7
Technology		141.2		(78.1	)		(22.2	)		40.9		141.9		(65.0	)		(22.2	)		54.7
Contracts		42.3		(33.6	)		—			8.7		42.8		(31.2	)		—			11.6
Total intangible assets with definite lives		1,179.9		(549.8	)		(171.1	)		459.0		1,175.6		(471.3	)		(171.1	)		533.2
Trademarks and tradenames with indefinite lives⁽²⁾		881.3		—			(630.2	)		251.1		881.3		—			(630.2	)		251.1
Total identifiable intangible assets	$	2,061.2	$	(549.8	)	$	(801.3	)	$	710.1	$	2,056.9	$	(471.3	)	$	(801.3	)	$	784.3

⁽¹⁾

As of December 31, 2016 this amount includes $4.3 million related to the accelerated amortization of intangible assets related to ceasing operations in Venezuela. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.

⁽²⁾	The intangible assets include $251.1 million of trademarks and trade names that we have determined to have indefinite useful lives, primarily acquired in connection with the acquisition of Diversey.

The following table shows the remaining estimated future amortization expense at December 31, 2016.

Year	Amount (in millions)
2017	$	87.7
2018		70.1
2019		56.3
2020		53.8
Thereafter		191.1
Total	$	459.0

Amortization expense was $94.9 million in 2016, $88.7 million in 2015 and $118.9 million in 2014.

The following table shows the remaining weighted average useful life of our definite lived intangible assets as of December 31, 2016.

	Remaining weighted average useful lives
Customer relationships		8.2
Trademarks and trade names		5.1
Technology		3.2
Contracts		7.2
Total intangible assets with definite lives		7.4

Restructuring And Related Activities [Abstract]

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

+ References + Details

Accounts Receivable Securitization Programs	12 Months Ended
Accounts Receivable Securitization Programs	Dec. 31, 2016
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, 2016, the maximum purchase limit for receivable interests was $90.0 million, subject to the availability limits described below. The amounts available from time to time under this program may be less than $90.0 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, 2016, the level of eligible assets available under the program was lower than $90.0 million primarily due to certain required reserves against our receivables. As a result, the amount available to us under the program was $73.8 million at December 31, 2016. 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 was renewed in September 2016 for an additional year. European Accounts Receivable Securitization Program We and a group of our European subsidiaries maintain an accounts receivable securitization program with a special purpose vehicle, or SPV, two banks and issuers of commercial paper administered by these banks. 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, 2016, the maximum purchase limit for receivable interests was €110.0 million, ($115.7 million equivalent at December 31, 2016) subject to availability limits. The terms and provisions of this program are similar to our U.S. program discussed above. As of December 31, 2016, the amount available under this program before utilization was €108.5 million ($114.1 million equivalent as of December 31, 2016). This program expires annually in February and is renewable. The planned maturity in February 2017 was extended to September 2017. Utilization of Our Accounts Receivable Securitization Programs As of December 31, 2016, there were no amounts outstanding under our U.S. and European programs. 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 $1.3 million for the year ended December 31, 2016, less than $1.0 million for the year ended December 31, 2015 and $2.0 million for the year ended December 31, 2014. Under limited circumstances, the banks and the issuers of commercial paper can end purchases of receivables interests before the above expiration dates. A failure to comply with debt leverage or various other ratios related to our receivables collection experience could result in termination of the receivables programs. We were in compliance with these ratios at December 31, 2016. As of December 31, 2015, the total amount of borrowings was $67.0 million under our U.S. program and €70.1 million ($76.7 million equivalent as of December 31, 2015) under our European program.

Restructuring and Relocation Activities

12 Months Ended

Dec. 31, 2016

Restructuring and Relocation Activities

Note 9 Restructuring and Relocation Activities

Consolidation of Restructuring Programs

As reported in our 2015 Form 10-K, our December 2011 Integration and Optimization Program (“IOP”) is substantially complete and did not significantly impact 2016. The May 2013 Earnings Quality Improvement Program (“EQIP”) and the December 2014 Fusion program had significant activity in 2016.

In the first quarter of 2016, the Board of Directors agreed to consolidate the remaining activities of all restructuring programs to create a single program to be called the “Sealed Air Restructuring Program” or the “Program.”

The Program consists of a portfolio of restructuring projects across all of our divisions as part of our transformation of Sealed Air into a knowledge-based company, including reductions in headcount, and relocation of certain facilities and offices, which primarily reflects the relocation of our global headquarters to Charlotte, North Carolina, including the headquarters for our divisions, research and development facilities, and corporate offices. By December 31, 2017, we anticipate approximately 1,300 jobs will have been relocated to Charlotte primarily 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. The cost of the Charlotte campus is estimated to be approximately $120.0 million.

Program metrics are as follows:

	Sealed Air Restructuring Program
Approximate positions eliminated by the Program		1,950
Estimated Program Costs (in millions):
Costs of reduction in headcount as a result of reorganization	$235-$245
Other expenses associated with the Program	155-160
Total expense	$390-$405
Capital expenditures	250-255
Proceeds, foreign exchange and other cash items	(70)-(75)
Total estimated net cash cost	$570-$585
Program to Date Cumulative Expense (in millions):
Costs of reduction in headcount as a result of reorganization	$	226
Other expenses associated with the Program		105
Total Cumulative Expense	$	331
Cumulative capital expenditures	$	214

The following table details our restructuring activities as reflected in the Statement of Operations for the twelve months ended December 31, 2016, 2015 and 2014:

	Three Years Ended
	December 31,
(In millions)	2016		2015		2014
Other associated costs	$	28.0	$	42.9	$	35.8
Restructuring charges		12.9		78.3		65.7
Total	$	40.9	$	121.2	$	101.5
Capital Expenditures	$	123.5	$	52.0	$	28.0

The restructuring accrual, spending and other activity for the year ended December 31, 2016 and the accrual balance remaining at December 31, 2016 related to the Program were as follows:

(In millions)
Restructuring accrual at December 31, 2015	$	76.3
Accrual and accrual adjustments		12.9
Cash payments during 2016		(39.3	)
Effect of changes in foreign currency exchange rates		(2.5	)
Restructuring accrual at December 31, 2016	$	47.4

We expect to pay $44.8 million of the accrual balance remaining at December 31, 2016 within the next twelve months. This amount is included in accrued restructuring costs on the Consolidated Balance Sheet at December 31, 2016. The majority of the remaining accrual of $2.6 million is expected to be paid in 2018. This amount is included in other non-current liabilities on our Consolidated Balance Sheet at December 31, 2016.

Other Current and Non-Current Liabilities

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015:

	December 31,		December 31,
(In millions)	2016		2015
Other current liabilities:
Accrued salaries, wages and related costs	$	248.3	$	288.4
Accrued operating expenses		254.4		240.6
Income taxes payable		57.6		49.7
Accrued customer volume rebates		164.2		165.6
Accrued interest		37.9		38.8
Accrued employee benefit liability		5.3		6.6
Total	$	767.7	$	789.7

	December 31,		December 31,
(In millions)	2016		2015
Other non-current liabilities:
Accrued employee benefit liability	$	363.3	$	378.1
Other postretirement liability		53.2		62.2
Other various liabilities⁽¹⁾		254.7		288.7
Total	$	671.2	$	729.0

⁽¹⁾

Debt and Credit Facilities

12 Months Ended

Dec. 31, 2016

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)	2016		2015⁽³⁾
Short-term borrowings ⁽¹⁾	$	92.6	$	248.2
Current portion of long-term debt⁽²⁾		328.1		46.6
Total current debt		420.7		294.8
Term Loan A due July 2017⁽²⁾		—		249.7
Term Loan A due July 2019⁽²⁾		992.2		1,058.9
6.50% Senior Notes due December 2020		423.1		422.7
4.875% Senior Notes due December 2022		419.6		418.9
5.25% Senior Notes due April 2023		419.7		419.0
4.50% Senior Notes due September 2023		416.7		432.9
5.125% Senior Notes due December 2024		420.2		419.7
5.50% Senior Notes due September 2025		396.4		396.1
6.875% Senior Notes due July 2033		445.3		445.2
Other		5.1		3.7
Total long-term debt, less current portion⁽⁵⁾		3,938.3		4,266.8
Total debt⁽⁴⁾⁽⁶⁾	$	4,359.0	$	4,561.6

⁽¹⁾

Short-term borrowings of $92.6 million at December 31, 2016 are comprised of borrowings outstanding under various lines of credit. Short-term borrowings at December 31, 2015 are comprised primarily of $67.0 million of borrowings outstanding under our U.S. accounts receivable securitization program, $76.7 million of borrowings outstanding under our European accounts receivable securitization program, and $104.5 million borrowings outstanding under various lines of credit. As of December 31, 2016 and 2015, there were $52.9 million and $56.5 million of cash held on deposit, respectively, as a compensating balance for certain short-term borrowings.

⁽²⁾	The Term Loan A facilities due in July 2017 and the July 2019 prepayments are included in the current portion of long-term debt.

⁽³⁾

As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 which resulted in $35.9 million of unamortized debt issuance costs being reclassified from other non-current assets to long-term debt as of December 31, 2015. See Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for additional information related to this adoption.

⁽⁴⁾

As of December 31, 2016, our weighted average interest rate on our short-term borrowings outstanding was 4.8% and on our long-term debt outstanding was 4.7%. 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%.

⁽⁵⁾	Amounts are net of unamortized discounts and issuance costs of $36.7 million as December 31, 2016 and $42.9 million as of December 31, 2015.

⁽⁶⁾	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 $110 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 long-term debt, less current portion 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 long-term debt, less current portion 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.

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. The first $20 million interest rate and currency swap matured on September 30, 2016.

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.

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)	2016		2015
Used lines of credit⁽¹⁾⁽²⁾	$	92.6	$	248.2
Unused lines of credit		1,166.7		1,039.9
Total available lines of credit⁽³⁾	$	1,259.3	$	1,288.1

⁽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, 2016 and 2015, there were $52.9 million and $56.5 million of cash held on deposit, respectively, as a compensating balance for certain short-term borrowings.

⁽³⁾	Of the total available lines of credit, $887.8 million were committed as of December 31, 2016.

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, 2016 and 2015.

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 and finance fees.

Year	Amount (in millions)
2017	$	328.1
2018		75.9
2019		927.1
2020		425.9
2021		0.1
Thereafter		2,546.1
Total	$	4,303.2

Derivatives and Hedging Activities

12 Months Ended

Dec. 31, 2016

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 cost of sales 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 $1.6 million, $5.9 million and $3.8 million for the years ended December 31, 2016, 2015, and 2014, respectively. 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 $5.2 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.

At December 31, 2016, and December 31, 2015, 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. On September 30, 2016, the first $20.0 million swap contract matured and was settled. As a result of the settlement, the Company received $4.9 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 $29.2 million ($18.1 million after tax) as of December 31, 2016, 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, 2016 was $(5.3) million ($(3.3) million after tax) on our Consolidated Balance Sheet. Semi –annual interest settlements resulted in AOCI of $13.9 million ($8.6 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

We may use other derivative instruments from time to time to manage exposure to foreign exchange rates and to access to international financing transactions. These instruments can potentially limit foreign exchange exposure by swapping borrowings denominated in one currency for borrowings denominated in another currency.

Fair Value of Derivative Instruments

See Note 13, “Fair Value Measurements and Other Financial Instruments,” of the Notes to Consolidated Financial Statements 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)	2016			2015			2016			2015			2016			2015			2016			2015
Derivative Assets
Foreign currency forward contracts	$	4.9		$	3.2		$	—		$	—		$	11.4		$	25.0		$	16.3		$	28.2
Interest rate and currency swaps		23.9			44.0			—			—			—			—			23.9			44.0
Total Derivative Assets	$	28.8		$	47.2		$	—		$	—		$	11.4		$	25.0		$	40.2		$	72.2

Derivative Liabilities
Foreign currency forward contracts	$	(0.1	)	$	(1.3	)	$	—		$	—		$	(11.5	)	$	(43.5	)	$	(11.6	)	$	(44.8	)
Cross-currency swaps		—			—			(5.3	)		(12.0	)		—			—			(5.3	)		(12.0	)
Total Derivative Liabilities⁽¹⁾	$	(0.1	)	$	(1.3	)	$	(5.3	)	$	(12.0	)	$	(11.5	)	$	(43.5	)	$	(16.9	)	$	(56.8	)
Net Derivatives ⁽²⁾	$	28.7		$	45.9		$	(5.3	)	$	(12.0	)	$	(0.1	)	$	(18.5	)	$	23.3		$	15.4

⁽¹⁾	Excludes €400.0 million of euro-denominated debt ($416.7 million equivalent at December 31, 2016 and $432.9 million equivalent at December 31, 2015), designated as a net investment hedge.

⁽²⁾	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)	2016			2015			2016			2015			2016		2015		2016			2015
Gross position	$	22.6		$	36.2		$	(11.6	)	$	(44.8	)	$	17.6	$	36.0	$	(5.3	)	$	(12.0	)
Impact of master netting agreements		(0.2	)		(24.1	)		0.2			24.1			—		—		—			—
Net amounts recognized on the Consolidated Balance Sheet	$	22.4		$	12.1		$	(11.4	)	$	(20.7	)	$	17.6	$	36.0	$	(5.3	)	$	(12.0	)

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)	2016			2015		2014
Derivatives designated as hedging instruments:
Cash Flow Hedges:
Foreign currency forward contracts⁽¹⁾	$	0.6		$	9.6	$	1.9
Interest rate and currency swaps⁽²⁾		(25.9	)		25.7		13.5
Treasury locks⁽³⁾		0.1			0.1		0.1
Sub-total cash flow hedges		(25.2	)		35.4		15.5
Fair Value Hedges:
Interest rate swaps		0.5			0.4		1.8
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		(27.6	)		32.0		0.4
Total	$	(52.3	)	$	67.8	$	17.7

⁽¹⁾	Amounts recognized on the foreign currency forward contracts were included in cost of sales during the year ended December 31, 2016 and other income (expense), net during the years ended December 31, 2015 and December 31, 2014.

⁽²⁾

As of December 31, 2016, amounts recognized on the interest rate and currency swaps included a $20.8 million loss on the remeasurement of the hedged debt, which is included in other income (expense), net and interest expense of $5.1 million related to the hedge of the interest payments. As of December 31, 2015, amounts recognized on the interest rate and currency swaps included a $31.6 million gain which offset a loss on remeasurement of the hedged debt, which is included in other income (expense), net and interest expense of $5.9 million related to the hedge of 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 which is related to amortization of terminated interest rate swaps.

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.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64837297&loc=d3e41620-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Fair Value Measurements and Other Financial Instruments

Fair Value Measurements and Other Financial Instruments

12 Months Ended

Dec. 31, 2016

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,” of the Notes to the Consolidated Financial Statements are included in the table below.

	December 31, 2016
(In millions)	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents	$	71.3		$	71.3	$	—		$	—
Compensating balance deposits	$	52.9		$	52.9	$	—		$	—
Derivative financial and hedging instruments net asset (liability):
Foreign currency forward and option contracts	$	4.7		$	—	$	4.7		$	—
Interest rate and currency swaps	$	23.9		$	—	$	23.9		$	—
Cross-currency swaps	$	(5.3	)	$	—	$	(5.3	)	$	—

	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	)	$	—

Cash Equivalents

Our cash equivalents consist 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 that will mature within the next 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, 2016				December 31, 2015
	Carrying		Fair		Carrying		Fair
(In millions)	Amount		Value		Amount⁽²⁾		Value
Term Loan A Facility due July 2017	$	249.9	$	249.9	$	249.7	$	249.7
Term Loan A Facility due July 2019⁽¹⁾		1,067.8		1,067.8		1,103.8		1,103.8
6.50% Senior Notes due December 2020		423.1		477.3		422.7		473.7
4.875% Senior Notes due December 2022		419.6		437.6		418.9		426.5
5.25% Senior Notes due April 2023		419.7		441.1		419.0		436.2
4.50% Senior Notes due September 2023⁽¹⁾		416.7		453.4		432.9		452.7
5.125% Senior Notes due December 2024		420.2		437.3		419.7		427.6
5.50% Senior Notes due September 2025		396.4		418.8		396.1		410.2
6.875% Senior Notes due July 2033		445.3		462.7		445.2		462.7
Other foreign loans⁽¹⁾		78.9		79.2		165.7		165.8
Other domestic loans		21.4		21.3		87.9		88.2
Total debt	$	4,359.0	$	4,546.4	$	4,561.6	$	4,697.1

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

⁽²⁾

As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 which resulted in $35.9 million of unamortized debt issuance costs being reclassified from other assets to long-term debt as of December 31, 2015. Additionally, certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. See Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for additional information related to this adoption.

In addition to the table above, the Company remeasures amounts related to 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. Refer to Note 3 “Divestitures and Acquisitions” of the Notes to Consolidated Financial Statements for information regarding contingent consideration and Note 18 “Stockholders’ Equity” of the Notes to Consolidated Financial Statements for share based compensation in the Notes to Consolidated Financial Statements. 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.

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.

Compensation And Retirement Disclosure [Abstract]

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

+ References + Details

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans

12 Months Ended

Dec. 31, 2016

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 $42.9 million in 2016, $55.3 million in 2015, and $50.3 million in 2014. In 2016, 830,600 shares were contributed as part of our contribution to the profit sharing plan related to 2015; in 2015, 787,500 shares were contributed as part of our contribution to the profit sharing plan related to 2014, and in 2014, 965,200 shares were contributed as part of our contribution to the profit sharing plan related to 2013. 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 reflected on the Consolidated Balance Sheet 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 for material plans and November 30 for non-material plans.

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)	2016		2015			2014
Net periodic benefit cost:
U.S. and international net periodic benefit cost (income) included in cost of sales	$	0.4	$	(0.5	)	$	5.6
U.S. and international net periodic benefit cost included in selling, general and administrative expenses		11.0		10.7			10.6
Total benefit cost	$	11.4	$	10.2		$	16.2

The amount recorded in inventory for the years ended December 31, 2016, 2015 and 2014 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 2016 and 2015 for our U.S. and international pension plans. The measurement date used to determine benefit obligations and plan assets is December 31 for all material plans (November 30 for non-material plans).

	December 31,									December 31,
	2016									2015
(In millions)	U.S.			International			Total			U.S.			International			Total
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	215.0		$	1,104.5		$	1,319.5		$	221.4		$	1,148.1		$	1,369.5
Service cost		0.6			10.0			10.6			0.7			10.6			11.3
Interest cost		7.8			25.5			33.3			8.6			29.0			37.6
Actuarial loss (gain)		8.9			89.9			98.8			(3.5	)		15.2			11.7
Settlement/curtailment		(11.4	)		(0.8	)		(12.2	)		(4.9	)		(6.5	)		(11.4	)
Benefits paid		(12.7	)		(33.9	)		(46.6	)		(13.7	)		(34.5	)		(48.2	)
Employee contributions		—			2.8			2.8			—			3.5			3.5
Other⁽¹⁾		4.9			(2.8	)		2.1			6.4			27.1			33.5
Foreign exchange impact		—			(71.0	)		(71.0	)		—			(88.0	)		(88.0	)
Projected benefit obligation at end of period		213.1			1,124.2			1,337.3			215.0			1,104.5			1,319.5
Change in plan assets:
Fair value of plan assets at beginning of period		156.7			813.3			970.0			181.6			862.4			1,044.0
Actual return on plan assets		9.1			93.1			102.2			(5.6	)		20.0			14.4
Employer contributions		0.2			25.0			25.2			0.5			28.2			28.7
Employee contributions		—			2.8			2.8			—			3.5			3.5
Benefits paid		(12.7	)		(33.9	)		(46.6	)		(13.7	)		(34.5	)		(48.2	)
Settlement/curtailment		(5.1	)		(0.7	)		(5.8	)		(5.9	)		(2.3	)		(8.2	)
Other		2.1			1.4			3.5			(0.2	)		(1.9	)		(2.1	)
Foreign exchange impact		—			(64.1	)		(64.1	)		—			(62.1	)		(62.1	)
Fair value of plan assets at end of period		150.3			836.9			987.2			156.7			813.3			970.0
Underfunded status at end of year	$	(62.8	)	$	(287.3	)	$	(350.1	)	$	(58.3	)	$	(291.2	)	$	(349.5	)
Accumulated benefit obligation at end of year	$	213.1		$	1,076.9		$	1,290.0		$	210.4		$	1,065.6		$	1,276.0

⁽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,
	2016									2015
(In millions)	U.S.			International			Total			U.S.			International			Total
Other assets	$	—		$	24.0		$	24.0		$	—		$	33.7		$	33.7
Other current liabilities		—			(4.2	)		(4.2	)		—			(4.0	)		(4.0	)
Other liabilities		(62.8	)		(307.1	)		(369.9	)		(58.3	)		(319.8	)		(378.1	)
Net amount recognized	$	(62.8	)	$	(287.3	)	$	(350.1	)	$	(58.3	)	$	(290.1	)	$	(348.4	)

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

	December 31,									December 31,									December 31,
	2016									2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total			U.S.			International			Total
Components of net periodic benefit cost or (income):
Service cost	$	0.6		$	10.0		$	10.6		$	0.7		$	10.6		$	11.3		$	1.1		$	8.9		$	10.0
Interest cost		7.8			25.5			33.3			8.6			29.0			37.6			8.7			39.3			48.0
Expected return on plan assets		(10.0	)		(35.7	)		(45.7	)		(11.4	)		(39.3	)		(50.7	)		(11.2	)		(42.9	)		(54.1	)
Other adjustments		1.3			—			1.3			—			—			—			—			—			—
Amortization of net prior service cost		—			—			—		—				0.1			0.1			—			0.1			0.1
Amortization of net actuarial loss		2.2			8.9			11.1			1.8			8.9			10.7			0.8			9.1			9.9
Net periodic benefit cost (income)		1.9			8.7			10.6			(0.3	)		9.3			9.0			(0.6	)		14.5			13.9
Cost (income) of settlement/curtailment		0.6			0.2			0.8			1.6			(0.4	)		1.2			—			2.3			2.3
Total benefit cost (income)	$	2.5		$	8.9		$	11.4		$	1.3		$	8.9		$	10.2		$	(0.6	)	$	16.8		$	16.2

The amounts in accumulated other comprehensive loss that have not yet been recognized as components of net periodic benefit cost at December 31, 2016 and 2015 are:

	December 31,								December 31,
	2016								2015
(In millions)	U.S.		International			Total			U.S.		International		Total
Unrecognized prior service costs	$	—	$	(2.1	)	$	(2.1	)	$	—	$	0.1	$	0.1
Unrecognized net actuarial loss		42.0		325.9			367.9			40.9		321.2		362.1
Total	$	42.0	$	323.8		$	365.8		$	40.9	$	321.3	$	362.2

Changes in plan assets and benefit obligations recognized in other comprehensive loss (income) at December 31, 2016 and 2015 were as follows:

	December 31,									December 31,
	2016									2015
(In millions)	U.S.			International			Total			U.S.			International			Total
Current year actuarial (gain) loss	$	3.6		$	32.4		$	36.0		$	14.6		$	30.2		$	44.8
Amortization of actuarial loss		(2.3	)		(8.9	)		(11.2	)		(1.7	)		(8.9	)		(10.6	)
Amortization of prior service cost	—				—			—		—				(0.1	)		(0.1	)
Current year valuation adjustments		0.3			(2.3	)		(2.0	)		—			(0.3	)		(0.3	)
Settlement/curtailment (gain) loss		(0.6	)		(0.2	)		(0.8	)		(1.6	)		0.7			(0.9	)
Total recognized in other comprehensive loss	$	1.0		$	21.0		$	22.0		$	11.3		$	21.6		$	32.9

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, 2017 are as follows:

	Year Ended
	2017
(In millions)	U.S.		International			Total
Unrecognized prior service costs	$	—	$	(0.1	)	$	(0.1	)
Unrecognized net actuarial loss		0.9		10.4			11.3
Total	$	0.9	$	10.3		$	11.2

Information for plans with accumulated benefit obligations in excess of plan assets as of December 31, 2016 and 2015 are as follows:

	December 31,						December 31,
	2016						2015
(In millions)	U.S.		International		Total		U.S.		International		Total
Accumulated benefit obligation	$	213.1	$	760.5	$	973.6	$	210.4	$	751.4	$	961.8
Fair value of plan assets		150.3		488.7		639.0		156.7		458.3		615.0

Actuarial Assumptions

Weighted average assumptions used to determine benefit obligations at December 31, 2016 and 2015 were as follows:

	December 31,						December 31,
	2016						2015
(In millions)	U.S.			International			U.S.			International
Benefit obligations
Discount rate		4.0	%		2.2	%		4.3	%		2.6	%
Rate of compensation increase	N/A				2.4	%		3.0	%		2.5	%
Social security increase rate	N/A				1.8	%		3.0	%		1.6	%
Pension increase rate		3.0	%		1.7	%	N/A				1.6	%

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

	December 31,						December 31,						December 31,
	2016						2015						2014
(In millions)	U.S.			International			U.S.			International			U.S.			International
Net periodic benefit cost
Discount rate		4.3	%		2.6	%		3.9	%		2.7	%		4.6	%		3.8	%
Expected long-term rate of return		6.7	%		4.5	%		6.5	%		4.9	%		6.5	%		5.2	%
Rate of compensation increase		3.0	%		2.5	%		3.0	%		2.7	%		3.0	%		2.9	%
Social security increase rate		3.0	%		1.6	%		3.0	%		1.6	%		4.0	%		1.9	%
Pension increase rate	N/A				1.6	%	N/A				1.6	%	N/A				1.8	%

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
2017	$	14.2	$	38.9	$	53.1
2018		14.2		33.4		47.6
2019		14.1		34.2		48.3
2020		13.2		36.3		49.5
2021		13.1		39.1		52.2
Thereafter		66.1		218.0		284.1
Total	$	134.9	$	399.9	$	534.8

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:

	2016								2015
	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⁾	$	6.0	$	4.4	$	1.6	$	—	$	6.3	$	2.1	$	4.2	$	—
Fixed income funds⁽²⁾		444.0		—		444.0	—			440.8	—			440.8	—
Equity funds⁽³⁾		362.8		—		362.8	—			380.0	—			380.0	—
Other⁽⁴⁾		174.4		—		38.4		136.0		142.9	—			26.0		116.9
Total	$	987.2	$	4.4	$	846.8	$	136.0	$	970.0	$	2.1	$	851.0	$	116.9

⁽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)	2016			2015
Balance at beginning of period	$	116.9		$	123.2
Gains on assets still held at end of year		5.4			6.1
Purchases, sales, issuance, and settlements		1.6			(1.1	)
Transfers in and/or out of Level 3		22.6			(4.9	)
Foreign exchange (loss)/gain		(10.5	)		(6.4	)
Balance at end of period	$	136.0		$	116.9

Other Post-Employment Benefits and Other Employee Benefit Plans

12 Months Ended

Dec. 31, 2016

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)	2016			2015
Change in benefit obligations:
Benefit obligation at beginning of period	$	65.8		$	79.8
Service cost		0.2			0.9
Interest cost		1.9			3.0
Actuarial loss (gain)		(6.3	)		(4.7	)
Benefits paid, net		(4.3	)		(4.1	)
Loss due to exchange rate movements		—			(0.6	)
Plan amendments		(1.9	)		(8.5	)
Benefit obligation at end of period	$	55.5		$	65.8
Change in plan assets:
Fair value of plan assets at beginning of period	$	—		$	—
Employer contribution		4.3			4.1
Benefits paid, net		(4.3	)		(4.1	)
Fair value of plan assets at end of period	$	—		$	—
Net amount recognized:
Underfunded status	$	(55.5	)	$	(65.8	)
Accumulated benefit obligation at end of year	$	55.5		$	65.8
Net amount recognized in consolidated balance sheets consists of:
Current liability		(3.0	)		(5.1	)
Noncurrent liability		(52.5	)		(60.7	)
Net amount recognized	$	(55.5	)	$	(65.8	)
Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	$	2.4		$	8.6
Prior service credit		(17.9	)		(17.6	)
Total	$	(15.5	)	$	(9.0	)

The accumulated post-retirement benefit obligations were determined using a weighted-average discount rate of 3.9% at December 31, 2016 and 4.0% at December 31, 2015. The components of net periodic benefit cost for the years ended December 31 were as follows:

(In millions)	2016			2015			2014
Components of net periodic benefit cost:
Service cost	$	0.2		$	0.9		$	0.8
Interest cost		1.9			3.0			3.2
Amortization of net loss		—			0.4			0.1
Amortization of prior service credit		(1.6	)		(0.8	)		(0.7	)
Net periodic benefit cost	$	0.6		$	3.5		$	3.4

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

	December 31,
(In millions)	2016
Unrecognized prior service costs	$	(1.7	)
Unrecognized net actuarial loss		(0.1	)
Total		(1.8	)

Healthcare Cost Trend Rates

For the year ended December 31, 2016, healthcare cost trend rates were assumed to be 4.0% for the Belgian plan, 7.0% for the U.S. plan in 2016 and decreasing to 5.0% by 2022, and 5.5% for the Canada plan in 2016 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, 2016:

(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		2.6		0.6

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
2017	$	3.1
2018		3.4
2019		3.8
2020		4.2
2021		4.2
Thereafter		19.0
Total	$	37.7

Income Taxes

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income Taxes

Note 16 Income Taxes

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

	Year Ended December 31,
(In millions)	2016		2015		2014
Domestic	$	168.7	$	102.8	$	(62.2	)
Foreign		397.2		323.1		329.4
Total	$	565.9	$	425.9	$	267.2

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

	Year Ended December 31,
(In millions)	2016			2015			2014
Current tax expense (benefit):
Federal	$	31.3		$	6.3		$	(216.0	)
State and local		(1.3	)		7.3			0.2
Foreign		107.3			99.5			78.7
Total current expense (benefit)		137.3			113.1			(137.1	)
Deferred tax expense (benefit):
Federal		(42.4	)		(35.7	)		176.8
State and local		5.7			10.9			(27.2	)
Foreign		(21.1	)		2.2			(3.4	)
Total deferred tax expense (benefit)		(57.8	)		(22.6	)		146.2
Total income tax provision	$	79.5		$	90.5		$	9.1

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 $13.1 million in 2015. As of January 1, 2016, the Company early adopted ASU 2016-09 on a prospective basis. As a result, there was no excess tax benefit recorded to additional paid-in capital in 2016. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.

Deferred tax assets (liabilities) consist of the following:

	December 31,			December 31,
(In millions)	2016			2015
Restructuring reserves	$	6.3		$	9.1
Accruals not yet deductible for tax purposes		33.5			45.6
Net operating loss carry forwards		248.8			250.1
Foreign, federal and state credits and investment tax allowances		144.0			162.2
Employee benefit items		169.3			166.5
Capitalized expenses		76.8			54.9
Other		—			37.5
Gross deferred tax assets		678.7			725.9
Valuation allowance		(218.1	)		(257.4	)
Total deferred tax assets		460.6			468.5
Depreciation and amortization		(33.3	)		(30.3	)
Unremitted foreignearnings		(19.8	)		(44.1	)
Intangibles		(243.9	)		(264.5	)
Other		(4.1	)		—
Total deferred tax liabilities		(301.1	)		(338.9	)
Net deferred tax assets	$	159.5		$	129.6

The increase in net deferred tax assets is primarily attributable to the decrease in the liability on unremitted foreign earnings, the increase in the capitalized expenses asset, and the decrease in the valuation allowance, partially offset by a decrease in credit carryovers and other assets.

The unremitted foreign earnings liability decreased due to the Company’s ability to repatriate earnings in a more tax efficient manner.

The capitalized expenses asset increased due to research and development costs expensed for book and capitalized for tax and project costs expensed for book and not yet deductible for tax.

The Company’s foreign tax credits decreased due to expiration of unused credits offset by net increase in current credits. The other assets decreased as a result of changes to deferred tax assets related to other comprehensive income.

We have concluded that it is more likely than not that we will realize the majority of deferred tax assets at December 31, 2016. 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 primarily related to the following deferred tax assets:

•

$160.8 million of foreign net operating losses;

•

$45.8 million of state net operating loss carry forwards; and

•

$13.6 million of state tax credits.

For the year ended December 31, 2016, the valuation allowance decreased by $39.3 million. This decrease includes the release of $12.0 million of valuation allowance related to state net operating losses based on the expectation that the Company will have sufficient state taxable income in future periods to utilize previously valued attributes. Included in the $39.3 million decrease are also changes in foreign accruals and employee benefit items of $14.1 million and the expiration of foreign tax credit carry forwards of $16.1 million.

As of December 31, 2016, we have foreign net operating loss carry forwards of $736.7 million expiring in years beginning in 2017 with the majority of losses having an unlimited carryover. The state net operating loss carryforwards totaling $1.6 billion expire in various amounts over one to 20 years.

As of December 31, 2016, we have foreign and federal foreign tax credit carry forwards and investment allowances totaling $173.7 million that expire in calendar year 2017 through 2036. $11.6 million of foreign tax credits will expire in 2017 if not utilized. We have $20.9 million of state credit carryovers expiring in 2017 – 2036. We have provided a full valuation allowance on the state credits.

The Company has provided a $19.8 million deferred tax liability for unremitted foreign earnings, which is net of foreign tax credits of approximately $86.7 million. The liability relates to approximately $1.1 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 $3.0 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 $46.2 million as an out-of-period adjustment in December 2015 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,
	2016					2015					2014
Computed expected tax	$	198.1		35.0	%	$	149.1		35.0	%	$	93.5		35.0	%
State income taxes, net of federal tax benefit		10.3		1.8	%		5.2		1.2	%		(5.7	)	(2.1	)%
Foreign earnings taxed at lower rates		(31.2	)	(5.5	)%		(21.8	)	(5.1	)%		(35.2	)	(13.2	)%
U.S. tax on foreign earnings		26.9		4.8	%		12.1		2.8	%		10.5		3.9	%
Foreign tax credits		(57.9	)	(10.2	)%		(54.4	)	(12.8	)%		—		(—	)%
Unremitted foreign earnings		(24.3	)	(4.3	)%		(86.0	)	(20.2	)%		(5.2	)	(1.9	)%
Stock compensation		(16.6	)	(2.9	)%		—		(—	)%		—		(—	)%
Overall foreign loss recapture		—		(—	)%		67.9		15.9	%		—		(—	)%
Net change in valuation allowance		(35.5	)	(6.4	)%		(58.2	)	(13.7	)%		(13.2	)	(4.9	)%
Net change in unrecognized tax benefits		(28.8	)	(5.1	)%		56.8		13.3	%		(23.4	)	(8.8	)%
Deferred tax asset adjustments		36.9		6.5	%		17.1		4.0	%		—		(—	)%
Reorganization tax benefit		—		(—	)%		—		(—	)%		(2.2	)	(0.9	)%
Other		1.6		0.3	%		2.7		0.6	%		(10.0	)	(3.7	)%
Effective income tax rate	$	79.5		14.0	%	$	90.5		21.2	%	$	9.1		3.4	%

The primary adjustments to the statutory rate in 2016 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 release of foreign valuation allowances;

•

benefit for stock compensation windfall recorded to tax expense due to adoption of ASU 2016-09;

•

increase related to U.S. tax on foreign included income offset by benefit of recording foreign tax credits;

•

decrease in tax expense for reserve releases for settlement of audits and lapses in statute of limitations; and

•

increase in tax expense due to expiration of unused foreign tax credits and other deferred tax adjustments.

Tax expense for 2016 includes a $1.4 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 benefit from recognition of foreign tax credits, deferred tax adjustments and releases of reserves.

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,
	2016			2015			2014
Beginning balance of unrecognized tax benefits	$	239.1		$	188.9		$	221.9
Additions for tax positions of current year		13.4			3.1			5.2
Additions for tax positions of prior years		23.3			111.9			7.7
Reductions for tax positions of prior years		(23.0	)		(7.2	)		(39.8	)
Reductions for lapses of statutes of limitation		(40.7	)		(57.6	)		(6.2	)
Ending balance of unrecognized tax benefits	$	212.1		$	239.1		$	188.9

In 2016, our unrecognized tax benefit decreased by $27.0 million, primarily related to the expiration of the statute of limitations and settlement of audits. In 2015, we increased our unrecognized tax benefit by $50.2 million primarily related to the recording of a reserve related to the Settlement payment which was partially offset by the release of $57.6 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.

If the unrecognized tax benefits at December 31, 2016 were recognized, our income tax provision would decrease by $156.7 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 $15.0 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 $31.8 million (of which $9.3 million represents penalties) at December 31, 2016 for the payment of interest and penalties (before any tax benefit), a liability of $28.8 million (of which $9.8 million represents penalties) at December 31, 2015 and a liability of approximately $29.2 million (of which $11.3 million represents penalties) at December 31, 2014. In 2016, there was a $1.6 million change in interest and penalties in the tax accruals for uncertainties in prior years. In 2015, there was a negligible change in interest and penalties in the tax accruals for uncertainties in prior years. In 2014, interest and penalties of $4.0 million 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 2010-2011 consolidated U.S. federal income tax returns of legacy Sealed Air. We are also under examination by the IRS for the Consolidated 2012-2014 tax years. The outcome of the negotiations may affect the utilization of certain tax attributes and require us to return a portion of the refund from the carryback of the Settlement deduction.

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, 2016

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” of the Notes to Consolidated Financial Statements for further details).

We are currently under examination by the IRS with respect to the deduction of the approximately $1.49 billion for the 2014 taxable year 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 are protesting 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 have a material adverse effect on our consolidated financial condition and results of operations.

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 was 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 13, 2009 order of the Canadian court, on the Effective Date the actions became permanently stayed until they were 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, which were discontinued by order of the Quebec court in February 2016. 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, 2016 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, 2016, 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 $184.9 million. The estimated future cash outlays are as follows:

Year	Amount (in millions)
2017	$	84.7
2018		54.2
2019		20.0
2020		13.4
2021		12.6
Thereafter		—
Total	$	184.9

Asset Retirement Obligations

The Company has recorded asset retirement obligations primarily associated with asbestos abatement, lease restitution and the removal of underground tanks. The Company's asset retirement obligation liabilities were $13.5 million and $15.0 million at December 31, 2016 and 2015. The Company also recorded assets within property and equipment, net which included $4.1 million and $4.2 million related to buildings and $9.4 million and $10.8 million related to leasehold improvements as of December 31, 2016 and 2015, respectively. For the year ended December 31, 2016 accretion expense was $0.6 million.

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, 2016, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:

Year	Amount (in millions)
2017	$	39.2
2018		30.5
2019		20.2
2020		12.6
2021		10.7
Thereafter		9.0
Total	$	122.2

Net rental expense was $59.0 million in 2016, $62.0 million in 2015 and $71.4 million in 2014.

Stockholders' Equity

12 Months Ended

Dec. 31, 2016

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. 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.

During the year ended December 31, 2016, we repurchased 4,680,313 shares, for approximately $217.0 million with an average share price of $46.36 per share. During the year ended December 31, 2015, we repurchased 9,804,934 shares, for approximately $478.1 million with an average share price of $48.76 per share. 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.

In March 2015, the Company entered into an accelerated share repurchase agreement with a third-party financial institution to repurchase $25.0 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

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 $298.7 million. These repurchases were made under the July 2015 share repurchase program approved by our Board of Directors referenced above.

The Company’s decision to pursue the separation of New Diversey through either a tax-free spin-off or other strategic alternatives restricts the ability to repurchase shares under the current share buyback program. Once the separation process is concluded, the Company currently intends to resume share repurchases.

Dividends

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

			Total Cash Dividends
(In millions, except per share amounts)	Total Cash Dividends Paid		Paid Per Common Share
2014	$	110.9	$	0.52
2015		106.8		0.52
2016		121.6		0.61
Total	$	339.3

On February 15, 2017, our Board of Directors declared a quarterly cash dividend of $0.16 per common share payable on March 17, 2017 to stockholders of record at the close of business on March 3, 2017. The estimated amount of this dividend payment is $31.0 million based on 193 million shares of our common stock issued and outstanding as of January 31, 2017.

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 years ended December 31, in shares of our common stock and common stock in treasury:

	2016			2015			2014
Changes in common stock:
Number of shares, beginning of year		225,625,636			224,683,653			205,707,580
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		481,834			419,844			572,089
Restricted stock shares, forfeited		(89,699	)		(185,056	)		—
Shares issued for vested restricted stock units		179,826			172,071			136,197
Shares issued for 2012 President and Chief Operating Officer (COO) Four-Year Award		325,000			—			—
Shares issued for 2013 Three-Year PSU Awards		1,074,017			—			—
Shares issued for 2012 Three-Year PSU Awards		—			442,985			—
Shares issued for 2011 Three-Year PSU Awards		—			—			145,597
Shares issued for SLO Awards		20,587			71,893			101,062
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors		21,537			20,246			21,128
Number of shares issued, end of year		227,638,738			225,625,636			224,683,653
Changes in common stock in treasury:
Number of shares held, beginning of year		29,612,337			14,151,759			9,508,908
Repurchase of common stock		4,680,313			16,123,111			5,427,432
Profit sharing contribution paid in stock		(830,613	)		(787,463	)		(965,238	)
Restricted stock shares forfeitures transferred to Omnibus Incentive Plan Reserve		—			(75,638	)		—
Restricted stock shares, forfeited		(1,813	)		—			106,220
Shares withheld for taxes		696,131			200,568			74,437
Number of shares held, end of year		34,156,355			29,612,337			14,151,759
Number of common stock outstanding, end of year		193,482,383			196,013,299			210,531,894

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:


	2016			2015			2014
Number of shares available, beginning of year		7,694,739			8,775,994			5,676,699
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		(481,834	)		(419,844	)		(572,089	)
Restricted stock shares forfeited		87,886			185,056			106,220
Restricted stock units awarded		(428,595	)		(300,085	)		(431,987	)
Restricted stock units forfeited		29,774			38,100			9,800
Shares issued for 2012 President and COO Four-Year Award		(325,000	)		—			—
Shares issued for 2013 Three-Year PSU Awards		(1,074,017	)		—			—
Shares issued for 2012 Three-year PSU Awards		—			(442,985	)		—
Shares issued for 2011 Three-year PSU Awards		—			—			(145,597	)
Restricted stock shares issued for SLO Awards		—			—			(96,773	)
Restricted stock units awarded for SLO Awards		(81,614	)		(134,078	)		(48,528	)
SLO units forfeited		—			13,752			—
Director shares granted and issued		(18,022	)		(20,246	)		(21,128	)
Director units granted and deferred⁽¹⁾		(17,447	)		(925	)		(20,444	)
Shares withheld for taxes⁽²⁾		696,131			—			69,821
Number of shares available, end of year ⁽³⁾		6,082,001			7,694,739			8,775,994

⁽¹⁾	Director units granted and deferred include the impact of share-settled dividends earned and deferred on deferred shares.

⁽²⁾	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.

⁽³⁾	The above table excludes approximately 3.3 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, 2016.

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, 2016, 2015 and 2014 related to the Company’s PSU awards, SLO awards and restricted stock awards.

(in millions)	2016		2015		2014
2016 Three-year PSU Awards	$	6.3	$	—	$	—
2016 President & CEO Inducement Award		0.5		—		—
2015 Three-year PSU Awards		3.5		4.7		—
2014 Special PSU Awards⁽¹⁾		8.8		15.7		11.8
2014 Three-year PSU Awards		4.9		7.0		6.8
2013 Three-year PSU Awards		—		4.7		8.2
2012 Three-year PSU Awards		—		—		1.8
2013 WVH Incentive Compensation⁽²⁾		—		—		1.3
2012 President & COO Four-year Incentive Compensation⁽³⁾		0.2		0.3		0.4
SLO Awards		2.5		3.7		4.6
Other long-term share-based incentive compensation programs⁽⁴⁾		36.2		25.1		19.2
Total share-based incentive compensation expense⁽⁵⁾	$	62.9	$	61.2	$	54.1
Associated tax benefits recognized	$	19.7	$	18.6	$	15.7

⁽¹⁾	The amount does not include expense related to the 2014 Special PSU awards that will be settled in cash of $1.6 million in the year ended December 31, 2016.

⁽²⁾

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

⁽³⁾	The amount includes only the two initial performance-based equity awards. See below for further detail.

⁽⁴⁾	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.

⁽⁵⁾	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 units for 2016:

	Restricted stock shares							Restricted stock units
	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, 2015		1,269,775		$	35.09				882,449		$	35.93
Granted		481,834		$	44.16				428,595		$	43.37
Vested		(351,235	)	$	28.38	$	16.3		(179,826	)	$	28.97	$	8.3
Forfeited or expired		(87,886	)	$	36.43				(29,774	)	$	30.56
Non-vested at December 31, 2016		1,312,488		$	40.13				1,101,444		$	40.11

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)	2016		2015		2014
Fair value of restricted stock shares vested	$	10.0	$	10.2	$	7.6
Fair value of restricted stock units vested	$	5.2	$	3.0	$	3.2

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	$	22.9		1.2
Restricted Stock units	$	18.8		1.1

The non-vested cash awards excluded from table above had $4.3 million unrecognized compensation costs and weighted-average remaining contractual life of approximately 1.0 years. Current liability recognized for these cash awards was $2.5 million and $4.9 million in other non-current liabilities on our Consolidated Balance Sheet.

PSU Awards

Three-year PSU awards for 2014, 2015 and 2016 (Excluding 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% for the 2014 and 2015 awards and 50% for the 2016 awards, and (ii) three year consolidated Adjusted EBITDA margin weighted at 65% for the 2014 and 2015 awards and 50% for the 2016 awards. 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:

2016

2015

2014

Number of units granted

165,391

158,964

239,851

Weighted average fair value on grant

date

43.10

46.05

32.72

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:

	2016			2015			2014
Number of units granted		124,755			65,796			129,150
Weighted average fair value on grant date	$	57.14		$	59.91		$	43.13
Expected Price volatility		26.50	%		29.90	%		32.90	%
Risk-free interest rate		0.98	%		1.05	%		0.63	%

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, 2016:

	Estimated Payout %
	Adjusted EBITDA			TSR			Combined
2016 Three-year PSU Awards		100	%		100	%		100	%
2015 Three-year PSU Awards		100	%		168	%		124	%
2014 Three-year PSU Awards		200	%		188	%		196	%

The following table summarizes activity for outstanding Three-year PSU awards (excluding 2014 Special PSU Award) for 2016:

	Shares			Aggregate Intrinsic Value (in millions) ⁽²⁾
Outstanding at December 31, 2015		1,081,445
Granted(1)		290,146
Converted		(537,009	)	$	46.6
Forfeited or expired		(6,870	)
Outstanding at December 31, 2016		827,712
Fully vested at December 31, 2016		374,267		$	17.0

⁽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⁾	The aggregate intrinsic value is based on the actual number of PSUs earned and vested at December 31, 2015 which were issued in February 2016.

The following table summarizes activity for non-vested Three-year PSU awards (excluding 2014 Special PSU Award) for 2016:

	Shares			Weighted-Average per Share Fair Value on Grant Date
Non-vested at December 31, 2015		550,005		$	41.99
Granted		290,146		$	49.14
Vested		(374,267	)	$	38.13
Forfeited or expired		(6,870	)	$	49.14
Non-vested at December 31, 2016		459,014		$	49.55

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

(In millions)

2016

2015

2014

Fair value of three-year PSU awards

vested

14.3

20.1

5.9

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)
2016 Three-year PSU Awards	$	7.7		2.0
2015 Three-year PSU Awards	$	3.0		1.0
2014 Three-year PSU Awards	$	—		—

President and Chief Executive Officer (CEO) 2016 Inducement Awards

On January 15, 2016, Mr. Peribere, entered into a letter agreement (the “Amendment Letter”) amending the terms of his employment letter with the Company dated August 28, 2012 to extend the term of Mr. Peribere’s employment and make certain compensation adjustments. The Amendment Letter also provides Mr. Peribere with two additional awards of restricted stock units under the Company’s 2014 Omnibus Incentive Plan (the “Inducement Awards”), one that is time-vesting and the other that is performance-vesting.

The time-vesting Inducement Award, for 75,000 shares, requires Mr. Peribere to remain in service with the Company through December 31, 2017. The grant date fair value for this award was $39.95.

The performance-vesting Inducement Award, also for 75,000 shares, in addition to the time-vesting requirement noted above, requires that either (i) the Company’s cumulative total stockholder return (“TSR”) for 2016-2017 be in the top 25% of its peers (using the same peers and methodology under the Company’s performance stock unit (PSU) awards) and the Company’s stock price as of December 31, 2017 equals at least $43.70/share, or (ii) the Company’s stock price as of December 31, 2017 equals at least $55.00/share. The Amendment Letter provides that the stock price as of December 31, 2017 for this purpose will be determined using a 30-day arithmetic mean of closing prices. Since the award includes a market condition, compensation expense will be recognized regardless of whether the market condition is satisfied provided that the requisite service has been provided.

The grant date fair value for this award was determined 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, valuation modeling of vesting payoff determination featuring both performance goals as noted above, 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 performance-vesting Inducement Award is a fixed amount determined at the grant date fair value and is recognized 100% over the two-year award performance period regardless of whether shares are awarded at the end of the award performance period.

The assumptions used to calculate the grant date fair value of the performance-vesting Inducement Award are shown in the following table:

	2016 Performance-vesting Inducement Award
Fair value on grant date	$	12.55
Expected price volatility		24.60	%
Risk-free interest rate		0.92	%

The awards are described in further detail in Mr. Peribere’s Amendment Letter filed with the SEC as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on January 20, 2016.

2012 President and 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.

The performance period for the initial equity awards ,which included two awards of performance share units ended on August 31, 2016. The fair value of these awards at grant date was $1.6 million. Based on the performance conditions met, Mr. Peribere was issued 325,000 shares on October 6, 2016, certified by the Organization and Compensation Committee of the Board of Directors. The issued shares had an intrinsic value of $14.7 million on the day of vesting.

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. For equity-classified awards, 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, 2016, 376,047 PSUs remain unvested. The unrecognized compensation expense for equity-classified awards and liability-classified awards combined was $6.0 million and weighted-average remaining contractual life of approximately 1.0 year.

We record expense associated with the liability-classified awards in selling, general and administrative expenses and cost of sales. The liability recognized for liability-classified awards was $6.6 million

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 the Company, 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, 2016, the amount of dividends earned on SLO awards was immaterial.

The 2016 SLO awards comprise an aggregate of 49,071 restricted stock units as of December 31, 2016. The final number of units issued will be determined based on Annual Incentive Plan payout percentage and the stock price on the day of the grant. During 2016, 81,614 restricted units were issued for the 2015 annual incentive plan. We recorded $2.5 million, $3.7 million and $4.6 million in expense related to the SLO program in the years ended December 31, 2016, December 31, 2015 and December 31, 2014, respectively. 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. The expense is recognized over a fifteen month period on a straight-line basis.

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 (income)/expense of $(0.1) million, $3.9 million and $8.1 million in 2016, 2015, and 2014 respectively. Cash payments due to the exercise of these SARs were $1.9 million, $20.7 million and $21.1 million in 2016, 2015, and 2014 respectively. As of December 31, 2016, all of the outstanding SARs were fully vested. The remaining liability for these SARs was $2.0 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, 2016.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

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, 2014⁽¹⁾	$	(250.1	)	$	(369.9	)	$	—	$	6.2		$	(613.8	)
Other comprehensive income (loss) before reclassifications		(24.0	)		(194.1	)		1.7		26.5			(189.9	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		8.1			—			—		(24.4	)		(16.3	)
Net current period other comprehensive income (loss)		(15.9	)		(194.1	)		1.7		2.1			(206.2	)
Balance at December 31, 2015⁽¹⁾		(266.0	)		(564.0	)		1.7		8.3			(820.0	)
Other comprehensive income (loss) before reclassifications		(18.0	)		(91.9	)		19.3		(16.7	)		(107.3	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		7.3			(46.0	)		—		16.9			(21.8	)
Net current period other comprehensive income (loss)		(10.7	)		(137.9	)		19.3		0.2			(129.1	)
Balance at December 31, 2016⁽¹⁾	$	(276.7	)	$	(701.9	)	$	21.0	$	8.5		$	(949.1	)

⁽¹⁾	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $(8.3) million, $31.1 million and $58.9 million for the years ended December 31, 2016, 2015 and 2014.

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



(In millions)	2016⁽¹⁾			2015⁽¹⁾			2014⁽¹⁾			Location of Amount Reclassified from AOCI
Defined benefit pension plans and other post- employment benefits:
Prior service costs	$	1.6		$	0.7		$	0.5		⁽²⁾
Actuarial losses		(11.2	)		(11.1	)		(10.0	)	⁽²⁾
Total pre-tax amount		(9.6	)		(10.4	)		(9.5	)
Tax (expense) benefit		2.3			2.3			2.9
Net of tax		(7.3	)		(8.1	)		(6.6	)
Reclassifications from cumulative translation adjustment:
Charges related to Venezuelan subsidiaries		46.0			—			—		⁽⁴⁾
Net gains (losses) on cash flow hedging derivatives:
Foreign currency forward contracts		0.6			9.6			1.9		⁽³⁾Other income, net
Interest rate and currency swaps		(25.9	)		25.7			13.5		⁽³⁾Various
Treasury locks		0.1			0.1			0.1		⁽³⁾ Interest expense
Total pre-tax amount		(25.2	)		35.4			15.5
Tax (expense) benefit		8.3			(11.0	)		(5.2	)
Net of tax		(16.9	)		24.4			10.3
Total reclassifications for the period	$	(24.2	)	$	16.3		$	3.7

⁽¹⁾	Amounts in parenthesis indicate changes to earnings (loss) .

⁽²⁾	These accumulated other comprehensive components are included in the computation of net periodic benefit costs within cost of sales and selling, general, and administrative expenses on the Consolidated Statement of Operations.

⁽³⁾	These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 12, “Derivatives and Hedging Activities” of the Notes to Consolidated Financial Statements for additional details.

⁽⁴⁾

Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further 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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Other Income, net

12 Months Ended

Dec. 31, 2016

Net Earnings per Common Share

Other Income, net

Note 20 Other Income, net

The following table provides details of other income, net:

	Year Ended December 31,
(In millions)	2016			2015			2014
Interest income	$	13.0		$	13.5		$	15.5
Net foreign exchange transaction gains (losses)		8.3			5.3			(7.8	)
Bank fee expense		(5.8	)		(5.8	)		(5.0	)
Net (loss) gain on disposals of property and equipment and other		(1.4	)		3.3			—
Other, net⁽¹⁾		(2.9	)		3.6			6.1
Other income, net	$	11.2		$	19.9		$	8.8

⁽¹⁾	In 2015, we sold our joint venture that supported our Food Care segment in Turkey. We recognized earnings before income tax provision of $9.1 million in 2015 related to this transaction.

Impairment of Equity Method Investments

We recognized an impairment of $5.7 million in 2014 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, 2016

Earnings Per Share [Abstract]

Note 21 Net Earnings per Common Share

The following table sets forth the calculation of basic and diluted net earnings per common share under the two-class method for the years ended December 31:

	Year Ended December 31,
(In millions, except per share amounts)	2016			2015			2014
Basic Net Earnings Per Common Share:

Numerator
Net earnings available to common stockholders	$	486.4		$	335.4		$	258.1
Distributed and allocated undistributed net earnings to non- vested restricted stockholders		(3.4	)		(2.2	)		(1.6	)
Distributed and allocated undistributed net earnings to common stockholders		483.0			333.2			256.5
Distributed net earnings - dividends paid to common stockholders		(118.7	)		(106.2	)		(110.1	)
Allocation of undistributed net earnings to common stockholders	$	364.3		$	227.0		$	146.4
Denominator
Weighted average number of common shares outstanding - basic		194.3			203.9			210.0
Basic net earnings per common share:
Distributed net earnings to common stockholders	$	0.61		$	0.52		$	0.52
Allocated undistributed net earnings to common stockholders		1.87			1.11			0.70
Basic net earnings per common share⁽²⁾	$	2.49		$	1.63		$	1.22
Diluted Net Earnings Per Common Share:
Numerator
Distributed and allocated undistributed net earnings to common stockholders	$	483.0		$	333.2		$	256.5
Add: Allocated undistributed net earnings to unvested restricted stockholders		2.6			1.6			1.0
Less: Undistributed net earnings reallocated to non- vested restricted stockholders		(2.6	)		(1.6	)		(0.9	)
Net earnings available to common stockholders - diluted	$	483.0		$	333.2		$	256.6
Denominator
Weighted average number of common shares outstanding - basic		194.3			203.9			210.0
Effect of assumed issuance of Settlement agreement shares⁽¹⁾		—			—			1.6
Effect of contingently issuable shares⁽¹⁾		1.2			1.3			0.9
Effect of unvested restricted stock units⁽¹⁾		0.7			0.7			0.8
Weighted average number of common shares outstanding - diluted under two-class		196.2			205.9			213.3
Effect of unvested restricted stock - participating security⁽¹⁾		1.0			0.8			0.6
Weighted average number of common shares outstanding - diluted under treasury stock		197.2			206.7			213.9
Diluted net earnings per common share⁽²⁾	$	2.46		$	1.62		$	1.20

(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.

⁽²⁾

The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016 and recognition of excess taxbenefits of $18.1 million in income tax provision for the year ended December 31, 2016. As a result,net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.

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 2016, 2015 and 2014.

Stock Leverage Opportunity Awards (“SLO”)

The shares or units associated with the 2016 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, 2016. 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 2017. 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 2016, 2015 and 2014 were nominal.

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

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

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

Note 22 Summarized Quarterly Financial Information (Unaudited)

	2016
	First		Second		Third		Fourth
(In millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter
Net sales	$	1,590.6	$	1,727.0	$	1,716.6	$	1,744.1
Gross profit		589.3		661.4		640.0		640.9
Net earnings available to common stockholders⁽¹⁾		102.4		49.6		163.3		171.1
Net earnings per common share - basic⁽¹⁾⁽²⁾	$	0.51	$	0.25	$	0.84	$	0.89
Net earnings per common share - diluted⁽¹⁾⁽²⁾	$	0.51	$	0.25	$	0.83	$	0.87

	2015
	First		Second		Third		Fourth
(In millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter⁽³⁾
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

⁽¹⁾

The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional diluted weighted average number of common shares outstanding of 404,347, 456,352, 377,130 and 536,975 and recognition of excess tax benefits in the income tax provision of $10.6 million, zero, $1.8 million and $5.7 million for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. As a result, net earnings per common share increased by $0.05 per share, zero, $0.01 per share and $0.04 per share for three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.

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

⁽³⁾	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” of the Notes to Consolidated Financial Statements for further information.

Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2016

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, 2016, 2015 and 2014

	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, 2016:
Allowance for doubtful accounts	$	24.9	$	4.3		$	(8.5	)	(1)	$	(0.4	)		$	20.3
Inventory obsolescence reserve	$	21.9	$	6.4		$	(1.5	)	(2)	$	(1.9	)		$	24.9
Valuation allowance on deferred tax assets	$	257.4	$	(36.1	)	$	—			$	(3.2	)		$	218.1
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

⁽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, 2016

Accounting Policies [Abstract]

Basis of Presentation

Reclassifications and Revisions

Use of Estimates

Financial Instruments

See Note 12, “Derivatives and Hedging Activities,” of the Notes to Consolidated Financial Statements 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

2014 Activity

•

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.

2015 Activity

Therefore, in 2015 there were three legal mechanisms to exchange bolivars for U.S. dollars:

•

CENCOEX at the official rate of 6.3;

•

SICAD auction process at the awarded exchange rate (opening rate at 12.0 and at December 31, 2015 it was 13.5); and

•

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

2016 Activity

•

The preferential rate for essential goods and services was changed from 6.3 to 10.0 bolivars per U.S. dollar and is no longer called CENCOEX but is now the DIPRO;

•

The SICAD rate was eliminated which reduced the number of legal mechanisms from three down to only two; and

•

Eliminated the SIMADI rate which was replaced by the DICOM rate which will be allowed to float freely beginning at a rate of approximately 203.0 bolivars to U.S. dollar.

We will continue to evaluate each reporting period the appropriate exchange rate to remeasure our financial statements based on the facts and circumstances as applicable.

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 $130.8 million in 2016, $129.3 million in 2015 and $134.6 million in 2014.

Share-Based Incentive Compensation

Environmental Expenditures

Income Taxes

See Note 16, “Income Taxes,” of the Notes to Consolidated Financial Statements for further discussion.

Cash and Cash Equivalents

Accounts Receivable Securitization Programs

See Note 8, “Accounts Receivable Securitization Programs” of the Notes to Consolidated Financial Statements for further details.

Trade Receivables, Net

Property and Equipment, Net

Asset Retirement Obligations

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,” of the Notes to Consolidated Financial Statements for information about the Company’s benefit plans.

Net Earnings per Common Share

See Note 21, “Net Earnings Per Common Share,” of the Notes to Consolidated Financial Statements for further discussion.

Recently Adopted and Issued Accounting Standards

Recently Adopted Accounting Standards

Accounting for Income Taxes

	Year Ended
	December 31,
(In millions)	2016
Excess tax benefit	$	18.1

	Year Ended
	December 31,
	2016
Increase in diluted weighted average number of common shares outstanding		446,747

The changes resulted in an increase in basic and diluted EPS as follows:

	Year Ended
	December 31,
	2016
Basic EPS prior to adoption of ASU 2016-09	$	2.39
Basic EPS upon adoption of ASU 2016-09	$	2.49

Diluted EPS prior to adoption of ASU 2016-09	$	2.36
Diluted EPS upon adoption of ASU 2016-09	$	2.46

Classification of Excess Tax Benefits on the Statement of Cash Flows

	Year Ended			Year Ended
	December 31,			December 31,
(In millions)	2016			2015
Impact on Net Cash provided by Operating Activities	$	6.8		$	13.1
Imapct on Net Cash used in Financing Activities	$	(6.8	)	$	(13.1	)

Recently Issued Accounting Standards

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

12 Months Ended

Dec. 31, 2016

Schedule of Recognition of Excess Tax Benefits in Provision for Income Taxes

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

	Year Ended December 31,
(In millions)	2016			2015			2014
Current tax expense (benefit):
Federal	$	31.3		$	6.3		$	(216.0	)
State and local		(1.3	)		7.3			0.2
Foreign		107.3			99.5			78.7
Total current expense (benefit)		137.3			113.1			(137.1	)
Deferred tax expense (benefit):
Federal		(42.4	)		(35.7	)		176.8
State and local		5.7			10.9			(27.2	)
Foreign		(21.1	)		2.2			(3.4	)
Total deferred tax expense (benefit)		(57.8	)		(22.6	)		146.2
Total income tax provision	$	79.5		$	90.5		$	9.1

Schedule of Recognition of Excess Tax Benefits in Provision for Income Taxes

The adoption resulted in the recognition of excess tax benefits in our provision for income taxes rather than in additional paid-in capital, as follows:

	Year Ended
	December 31,
(In millions)	2016
Excess tax benefit	$	18.1

Schedule of Diluted Weighted Average Number of Common Shares Outstanding

	Year Ended
	December 31,
	2016
Increase in diluted weighted average number of common shares outstanding		446,747

Schedule of Changes in Earnings Per Share Basic and Diluted Effect of New Accounting Adoption

The changes resulted in an increase in basic and diluted EPS as follows:

	Year Ended
	December 31,
	2016
Basic EPS prior to adoption of ASU 2016-09	$	2.39
Basic EPS upon adoption of ASU 2016-09	$	2.49

Diluted EPS prior to adoption of ASU 2016-09	$	2.36
Diluted EPS upon adoption of ASU 2016-09	$	2.46

Schedule of Impact on Consolidated Statement of Cash Flows

. The retrospective impact on the Consolidated Statement of Cash Flows was as follows:

	Year Ended			Year Ended
	December 31,			December 31,
(In millions)	2016			2015
Impact on Net Cash provided by Operating Activities	$	6.8		$	13.1
Imapct on Net Cash used in Financing Activities	$	(6.8	)	$	(13.1	)

Divestitures and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

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,
(In millions)	2015
Assets:
Inventories	$	15.2
Prepaid expenses		0.1
Property and equipment, net		22.6
Goodwill		6.9
Assets	$	44.8

Liabilities:
Accrued liabilities		2.7
Liabilities	$	2.7

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,
(In millions)	2015
Assets:
Receivables, net	$	0.2
Inventories, net		6.0
Other current assets		0.8
Property and equipment, net		22.4
Goodwill		1.5
Other non-current assets		0.4
Assets	$	31.3

Liabilities:
Accounts payable		1.6
Accrued liabilities		2.1
Other current liabilities		0.6
Long term debt		0.4
Other non-current liabilities		0.1
Liabilities	$	4.8

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, 2016

Segment Reporting [Abstract]

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

	Year Ended December 31,
(In millions)	2016			2015			2014
Net Sales:
Food Care	$	3,222.1		$	3,405.1		$	3,835.3
As a % of Total Company net sales		47.5	%		48.4	%		49.5	%
Diversey Care		1,963.2			1,999.1			2,173.1
As a % of Total Company net sales		29.0	%		28.4	%		28.0	%
Product Care⁽¹⁾		1,523.7			1,553.6			1,662.6
As a % of Total Company net sales		22.5	%		22.1	%		21.5	%
Other⁽¹⁾		69.3			73.7			79.5
Total Company Net Sales		6,778.3			7,031.5			7,750.5

	Year Ended December 31,
(In millions)	2016			2015			2014
Adjusted EBITDA:
Food Care	$	661.1		$	689.8		$	670.2
Adjusted EBITDA Margin		20.5	%		20.3	%		17.5	%
Diversey Care		251.3			231.9		245
Adjusted EBITDA Margin		12.8	%		11.6	%		11.3	%
Product Care⁽¹⁾		331.8			324.1		293.7
Adjusted EBITDA Margin		21.8	%		20.9	%		17.7	%
Other⁽¹⁾		(87.2	)		(71.7	)		(90.6	)
Non-U.S. GAAP Total Company Adjusted EBITDA		1,157.0			1,174.1			1,118.3
Adjusted EBITDA Margin		17.1	%		16.7	%		14.4	%

⁽¹⁾

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

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

	Year Ended December 31,
(In millions)	2016			2015			2014
Net earnings	$	486.4		$	335.4		$	258.1
Interest expense		(213.1	)		(227.7	)		(287.7	)
Income tax provision⁽¹⁾		79.5			90.5			9.1
Depreciation and amortization⁽⁴⁾		(278.2	)		(274.5	)		(320.8	)
Depreciation and amortization adjustments⁽¹⁾⁽²⁾	5.4			0.2			2.1
Special Items:
Restructuring and other charges⁽¹⁾⁽⁵⁾		(12.9	)		(78.3	)		(65.7	)
Other restructuring associated costs included in cost of sales and selling, general and administrative expenses		(28.0	)		(42.9	)		(35.8	)
Development grant matter included in selling, general and administrative expenses		—			—			(14.0	)
Termination of licensing agreement		—			—			(5.3	)
SARs		0.1			(3.9	)		(8.1	)
Impairments of equity method investment		—			—			(5.7	)
Foreign currency exchange (loss) gains related to Venezuelan subsidiaries		(3.4	)		(33.1	)		(20.4	)
Charges related to ceasing operations in Venezuela⁽¹⁾		(52.1	)		—			—
Loss on debt redemption and refinancing activities		(0.1	)		(110.0	)		(102.5	)
Gain from Settlement agreement in 2014 and related costs		—			—			21.1
(Loss) gain on sale of North American foam trays and absorbent pads business and European food trays business		(1.8	)		13.4			—
Non-operating charge for contingent guarantee included in other income (expense), net		—			—			(2.5	)
(Loss) gain related to the sale of other businesses, investments and property, plant and equipment		(1.6	)		11.1			(5.1	)
Charges incurred related to pursuit of strategic alternatives of New Diversey		(6.7	)		—			—
Other Special Items⁽³⁾		1.3			(2.5	)		(0.7	)
Pre-tax impact of Special Items		(105.2	)		(246.2	)		(244.7	)
Non-U.S. GAAP Total Company Adjusted EBITDA	$	1,157.0		$	1,174.1		$	1,118.3

⁽¹⁾

⁽²⁾	This includes accelerated depreciation of non-strategic assets related to restructuring programs which were $0.6 million, $0.2 million and $2.1 million for the years ended December 31, 2016, 2015 and 2014, respectively.

⁽³⁾

⁽⁴⁾	Depreciation and amortization by segment is as follows:

	Year Ended December 31,

(In millions)	2016		2015		2014
Food Care	$	102.4	$	107.9	$	121.3
Diversey Care		94.6		105.5		126.3
Product Care		40.1		37.4		41.4
Other		41.1		23.7		31.8
Total Company depreciation and amortization⁽ⁱ⁾	$	278.2		274.5		320.8

⁽ⁱ⁾	Includes share-based incentive compensation of $62.9 million in 2016, $61.2 million in 2015, and $54.1 million in 2014.

⁽⁵⁾	Restructuring and other charges by segment were as follows:

	Year Ended December 31,
(In millions)	2016		2015		2014
Food Care	$	6.2	$	37.9	$	27.3
Diversey Care		3.7		22.2		24.3
Product Care		2.9		17.2		13.6
Other		0.1		1.0		0.5
Total Company restructuring and other charges⁽ⁱ⁾	$	12.9	$	78.3	$	65.7

⁽ⁱ⁾	For the year ended December 31, 2016 restructuring and other charges excludes $0.3 million related to severance and termination benefits for employees in our Venezuelan subsidiaries.

Assets by Reportable Segments

	December 31,		December 31,
(In millions)	2016		2015
Assets:
Trade receivables, net, and finished goods inventories, net
Food Care	$	599.6	$	522.4
Diversey Care		451.9		440.3
Product Care⁽¹⁾		261.5		221.9
Other⁽¹⁾		13.9		12.5
Total segments and other		1,326.9		1,197.1
Assets not allocated
Cash and cash equivalents		363.7		351.7
Property and equipment, net		1,060.3		945.7
Goodwill		2,855.6		2,909.5
Intangible assets, net		710.1		784.3
Assets held for sale		3.3		10.3
Other		1,069.2		1,206.4
Total	$	7,389.1	$	7,405.0

⁽¹⁾	As of January 1, 2016, our Kevothermal business was moved from Other to our Product Care Segment. This resulted in a re-classification of $2.3 million of assets from Other to Product Care Segment for the year ended December 31, 2015.

Geographic Information

	Year Ended December 31,
(In millions)	2016		2015		2014
Net sales⁽¹⁾:
North America⁽³⁾	$	2,852.8	$	2,923.2	$	3,071.9
EMEA		2,302.5		2,410.4		2,783.2
Latin America		641.1		695.8		807.5
APAC		981.9		1,002.1		1,087.9
Total	$	6,778.3	$	7,031.5	$	7,750.5

Total long-lived assets⁽¹⁾⁽²⁾:
North America	$	708.2	$	585.7
EMEA		370.3		385.5
Latin America		114.9		127.0
APAC		204.2		192.6
Total⁽⁴⁾	$	1,397.6	$	1,290.8

⁽¹⁾

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

⁽³⁾	Net sales to external customers within the U.S. were $2,635.2 million for the year ended December 31, 2016, $2,685.3 million for the year ended December 31, 2015 and $2,797.5 million for the year ended December 31, 2014.

⁽⁴⁾

Inventories (Tables)

12 Months Ended

Dec. 31, 2016

Inventory Disclosure [Abstract]

Property Plant And Equipment [Abstract]

The following table details our inventories:

	December 31,		December 31,
(In millions)	2016		2015
Inventories, net:
Raw materials	$	115.3	$	109.6
Work in process		116.4		112.4
Finished goods		428.2		438.8
Total	$	659.9	$	660.8

Property and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Property and Equipment, Net

The following table details our property and equipment.

	December 31,			December 31,
(In millions)	2016			2015⁽¹⁾
Land and improvements	$	88.3		$	86.7
Buildings		665.0			606.2
Machinery and equipment⁽²⁾		2,183.9			2,141.3
Other property and equipment		151.2			139.9
Construction-in-progress⁽²⁾		227.5			190.7
Property and equipment, gross		3,315.9			3,164.8
Accumulated depreciation and amortization⁽³⁾		(2,255.6	)		(2,219.1	)
Property and equipment, net	$	1,060.3		$	945.7

⁽¹⁾	Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.

⁽²⁾	As of December 31, 2015, amounts related to fixed assets in North America remained in construction-in-progress after the assets had been capitalized. As a result, $4.2 million should have been reclassified from construction-in-progress to machinery and equipment.

⁽³⁾

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 years ended December 31.


	Year Ended December 31,
(In millions)	2016		2015		2014
Interest cost capitalized	$	11.0	$	5.4	$	6.2
Depreciation and amortization expense for property and equipment	$	120.5	$	124.6	$	147.8

Goodwill and Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

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⁽¹⁾			Total
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
Acquisition		8.4			—			—			—			8.4
Dispositions		—			—			(1.1	)		—			(1.1	)
Currency translation		(14.3	)		(46.2	)		(0.5	)		(0.2	)		(61.2	)
Gross Carrying Value at December 31, 2016		798.4			1,774.7			1,372.1			1.4			3,946.6
Accumulated impairment		(208.0	)		(883.0	)		—			—			(1,091.0	)
Carrying Value at December 31, 2016	$	590.4		$	891.7		$	1,372.1		$	1.4		$	2,855.6

⁽¹⁾	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 2016 annual impairment test were the following:


	% by Which Estimated Fair value
Reporting Unit	exceeds Carrying Value
Food Care — Packaging Solutions		451	%
Food Care — Hygiene Solutions		247	%
Diversey Care		92	%
Product Care		124	%
Medical Applications⁽¹⁾		539	%

⁽¹⁾	Included in the “Other” category for segment reporting purposes – See Note 4, “Segments,” of the Notes to Consolidated Financial Statements for a description of our reportable segments.

Summary 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, 2016										December 31, 2015
	Gross										Gross
	Carrying		Accumulated			Accumulated					Carrying		Accumulated			Accumulated
(In millions)	Value		Amortization			Impairment			Net		Value		Amortization			Impairment			Net
Customer relationships⁽¹⁾	$	828.7	$	(299.9	)	$	(148.9	)	$	379.9	$	846.2	$	(249.4	)	$	(148.9	)	$	447.9
Trademarks and tradenames		1.8		(0.8	)		—			1.0		1.7		(0.4	)		—			1.3
Capitalized software		165.9		(137.4	)		—			28.5		143.0		(125.3	)		—			17.7
Technology		141.2		(78.1	)		(22.2	)		40.9		141.9		(65.0	)		(22.2	)		54.7
Contracts		42.3		(33.6	)		—			8.7		42.8		(31.2	)		—			11.6
Total intangible assets with definite lives		1,179.9		(549.8	)		(171.1	)		459.0		1,175.6		(471.3	)		(171.1	)		533.2
Trademarks and tradenames with indefinite lives⁽²⁾		881.3		—			(630.2	)		251.1		881.3		—			(630.2	)		251.1
Total identifiable intangible assets	$	2,061.2	$	(549.8	)	$	(801.3	)	$	710.1	$	2,056.9	$	(471.3	)	$	(801.3	)	$	784.3

⁽¹⁾

⁽²⁾	The intangible assets include $251.1 million of trademarks and trade names that we have determined to have indefinite useful lives, primarily acquired in connection with the acquisition of Diversey.

Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at December 31, 2016.

Year	Amount (in millions)
2017	$	87.7
2018		70.1
2019		56.3
2020		53.8
Thereafter		191.1
Total	$	459.0

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, 2016.

	Remaining weighted average useful lives
Customer relationships		8.2
Trademarks and trade names		5.1
Technology		3.2
Contracts		7.2
Total intangible assets with definite lives		7.4

Restructuring and Relocation Activities (Tables)

12 Months Ended

Dec. 31, 2016

Restructuring And Related Activities [Abstract]

Schedule of Program Metrics

Program metrics are as follows:

	Sealed Air Restructuring Program
Approximate positions eliminated by the Program		1,950
Estimated Program Costs (in millions):
Costs of reduction in headcount as a result of reorganization	$235-$245
Other expenses associated with the Program	155-160
Total expense	$390-$405
Capital expenditures	250-255
Proceeds, foreign exchange and other cash items	(70)-(75)
Total estimated net cash cost	$570-$585
Program to Date Cumulative Expense (in millions):
Costs of reduction in headcount as a result of reorganization	$	226
Other expenses associated with the Program		105
Total Cumulative Expense	$	331
Cumulative capital expenditures	$	214

Restructuring and Relocation Activities

The following table details our restructuring activities as reflected in the Statement of Operations for the twelve months ended December 31, 2016, 2015 and 2014:

	Three Years Ended
	December 31,
(In millions)	2016		2015		2014
Other associated costs	$	28.0	$	42.9	$	35.8
Restructuring charges		12.9		78.3		65.7
Total	$	40.9	$	121.2	$	101.5
Capital Expenditures	$	123.5	$	52.0	$	28.0

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

The restructuring accrual, spending and other activity for the year ended December 31, 2016 and the accrual balance remaining at December 31, 2016 related to the Program were as follows:

(In millions)
Restructuring accrual at December 31, 2015	$	76.3
Accrual and accrual adjustments		12.9
Cash payments during 2016		(39.3	)
Effect of changes in foreign currency exchange rates		(2.5	)
Restructuring accrual at December 31, 2016	$	47.4

Other Current and Non-Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2016

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, 2016 and 2015:

	December 31,		December 31,
(In millions)	2016		2015
Other current liabilities:
Accrued salaries, wages and related costs	$	248.3	$	288.4
Accrued operating expenses		254.4		240.6
Income taxes payable		57.6		49.7
Accrued customer volume rebates		164.2		165.6
Accrued interest		37.9		38.8
Accrued employee benefit liability		5.3		6.6
Total	$	767.7	$	789.7

	December 31,		December 31,
(In millions)	2016		2015
Other non-current liabilities:
Accrued employee benefit liability	$	363.3	$	378.1
Other postretirement liability		53.2		62.2
Other various liabilities⁽¹⁾		254.7		288.7
Total	$	671.2	$	729.0

⁽¹⁾

Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2016

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)	2016		2015⁽³⁾
Short-term borrowings ⁽¹⁾	$	92.6	$	248.2
Current portion of long-term debt⁽²⁾		328.1		46.6
Total current debt		420.7		294.8
Term Loan A due July 2017⁽²⁾		—		249.7
Term Loan A due July 2019⁽²⁾		992.2		1,058.9
6.50% Senior Notes due December 2020		423.1		422.7
4.875% Senior Notes due December 2022		419.6		418.9
5.25% Senior Notes due April 2023		419.7		419.0
4.50% Senior Notes due September 2023		416.7		432.9
5.125% Senior Notes due December 2024		420.2		419.7
5.50% Senior Notes due September 2025		396.4		396.1
6.875% Senior Notes due July 2033		445.3		445.2
Other		5.1		3.7
Total long-term debt, less current portion⁽⁵⁾		3,938.3		4,266.8
Total debt⁽⁴⁾⁽⁶⁾	$	4,359.0	$	4,561.6

⁽¹⁾

⁽²⁾	The Term Loan A facilities due in July 2017 and the July 2019 prepayments are included in the current portion of long-term debt.

⁽³⁾

⁽⁴⁾

⁽⁵⁾	Amounts are net of unamortized discounts and issuance costs of $36.7 million as December 31, 2016 and $42.9 million as of December 31, 2015.

⁽⁶⁾	Long-term debt instruments are listed in order of priority.

Lines of Credit

	December 31,		December 31,
(In millions)	2016		2015
Used lines of credit⁽¹⁾⁽²⁾	$	92.6	$	248.2
Unused lines of credit		1,166.7		1,039.9
Total available lines of credit⁽³⁾	$	1,259.3	$	1,288.1

⁽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, 2016 and 2015, there were $52.9 million and $56.5 million of cash held on deposit, respectively, as a compensating balance for certain short-term borrowings.

⁽³⁾	Of the total available lines of credit, $887.8 million were committed as of December 31, 2016.

Scheduled Annual Maturities for Next Five Years and Thereafter

Year	Amount (in millions)
2017	$	328.1
2018		75.9
2019		927.1
2020		425.9
2021		0.1
Thereafter		2,546.1
Total	$	4,303.2

Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2016

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)	2016			2015			2016			2015			2016			2015			2016			2015
Derivative Assets
Foreign currency forward contracts	$	4.9		$	3.2		$	—		$	—		$	11.4		$	25.0		$	16.3		$	28.2
Interest rate and currency swaps		23.9			44.0			—			—			—			—			23.9			44.0
Total Derivative Assets	$	28.8		$	47.2		$	—		$	—		$	11.4		$	25.0		$	40.2		$	72.2

Derivative Liabilities
Foreign currency forward contracts	$	(0.1	)	$	(1.3	)	$	—		$	—		$	(11.5	)	$	(43.5	)	$	(11.6	)	$	(44.8	)
Cross-currency swaps		—			—			(5.3	)		(12.0	)		—			—			(5.3	)		(12.0	)
Total Derivative Liabilities⁽¹⁾	$	(0.1	)	$	(1.3	)	$	(5.3	)	$	(12.0	)	$	(11.5	)	$	(43.5	)	$	(16.9	)	$	(56.8	)
Net Derivatives ⁽²⁾	$	28.7		$	45.9		$	(5.3	)	$	(12.0	)	$	(0.1	)	$	(18.5	)	$	23.3		$	15.4

⁽¹⁾	Excludes €400.0 million of euro-denominated debt ($416.7 million equivalent at December 31, 2016 and $432.9 million equivalent at December 31, 2015), designated as a net investment hedge.

⁽²⁾	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)	2016			2015			2016			2015			2016		2015		2016			2015
Gross position	$	22.6		$	36.2		$	(11.6	)	$	(44.8	)	$	17.6	$	36.0	$	(5.3	)	$	(12.0	)
Impact of master netting agreements		(0.2	)		(24.1	)		0.2			24.1			—		—		—			—
Net amounts recognized on the Consolidated Balance Sheet	$	22.4		$	12.1		$	(11.4	)	$	(20.7	)	$	17.6	$	36.0	$	(5.3	)	$	(12.0	)

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)	2016			2015		2014
Derivatives designated as hedging instruments:
Cash Flow Hedges:
Foreign currency forward contracts⁽¹⁾	$	0.6		$	9.6	$	1.9
Interest rate and currency swaps⁽²⁾		(25.9	)		25.7		13.5
Treasury locks⁽³⁾		0.1			0.1		0.1
Sub-total cash flow hedges		(25.2	)		35.4		15.5
Fair Value Hedges:
Interest rate swaps		0.5			0.4		1.8
Derivatives not designated as hedging instruments:
Foreign currency forward contracts		(27.6	)		32.0		0.4
Total	$	(52.3	)	$	67.8	$	17.7

⁽¹⁾	Amounts recognized on the foreign currency forward contracts were included in cost of sales during the year ended December 31, 2016 and other income (expense), net during the years ended December 31, 2015 and December 31, 2014.

⁽²⁾

⁽³⁾	Amounts recognized on the treasury locks were included in interest expense which is related to amortization of terminated interest rate swaps.

Fair Value Measurements and Other Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Hierarchy of Financial Instruments

	December 31, 2016
(In millions)	Total Fair Value			Level 1		Level 2			Level 3
Cash equivalents	$	71.3		$	71.3	$	—		$	—
Compensating balance deposits	$	52.9		$	52.9	$	—		$	—
Derivative financial and hedging instruments net asset (liability):
Foreign currency forward and option contracts	$	4.7		$	—	$	4.7		$	—
Interest rate and currency swaps	$	23.9		$	—	$	23.9		$	—
Cross-currency swaps	$	(5.3	)	$	—	$	(5.3	)	$	—

	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	)	$	—

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, 2016				December 31, 2015
	Carrying		Fair		Carrying		Fair
(In millions)	Amount		Value		Amount⁽²⁾		Value
Term Loan A Facility due July 2017	$	249.9	$	249.9	$	249.7	$	249.7
Term Loan A Facility due July 2019⁽¹⁾		1,067.8		1,067.8		1,103.8		1,103.8
6.50% Senior Notes due December 2020		423.1		477.3		422.7		473.7
4.875% Senior Notes due December 2022		419.6		437.6		418.9		426.5
5.25% Senior Notes due April 2023		419.7		441.1		419.0		436.2
4.50% Senior Notes due September 2023⁽¹⁾		416.7		453.4		432.9		452.7
5.125% Senior Notes due December 2024		420.2		437.3		419.7		427.6
5.50% Senior Notes due September 2025		396.4		418.8		396.1		410.2
6.875% Senior Notes due July 2033		445.3		462.7		445.2		462.7
Other foreign loans⁽¹⁾		78.9		79.2		165.7		165.8
Other domestic loans		21.4		21.3		87.9		88.2
Total debt	$	4,359.0	$	4,546.4	$	4,561.6	$	4,697.1

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

⁽²⁾

Compensation And Retirement Disclosure [Abstract]

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

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

12 Months Ended

Dec. 31, 2016

Funded Status for Pension Plans

	December 31,									December 31,
	2016									2015
(In millions)	U.S.			International			Total			U.S.			International			Total
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	215.0		$	1,104.5		$	1,319.5		$	221.4		$	1,148.1		$	1,369.5
Service cost		0.6			10.0			10.6			0.7			10.6			11.3
Interest cost		7.8			25.5			33.3			8.6			29.0			37.6
Actuarial loss (gain)		8.9			89.9			98.8			(3.5	)		15.2			11.7
Settlement/curtailment		(11.4	)		(0.8	)		(12.2	)		(4.9	)		(6.5	)		(11.4	)
Benefits paid		(12.7	)		(33.9	)		(46.6	)		(13.7	)		(34.5	)		(48.2	)
Employee contributions		—			2.8			2.8			—			3.5			3.5
Other⁽¹⁾		4.9			(2.8	)		2.1			6.4			27.1			33.5
Foreign exchange impact		—			(71.0	)		(71.0	)		—			(88.0	)		(88.0	)
Projected benefit obligation at end of period		213.1			1,124.2			1,337.3			215.0			1,104.5			1,319.5
Change in plan assets:
Fair value of plan assets at beginning of period		156.7			813.3			970.0			181.6			862.4			1,044.0
Actual return on plan assets		9.1			93.1			102.2			(5.6	)		20.0			14.4
Employer contributions		0.2			25.0			25.2			0.5			28.2			28.7
Employee contributions		—			2.8			2.8			—			3.5			3.5
Benefits paid		(12.7	)		(33.9	)		(46.6	)		(13.7	)		(34.5	)		(48.2	)
Settlement/curtailment		(5.1	)		(0.7	)		(5.8	)		(5.9	)		(2.3	)		(8.2	)
Other		2.1			1.4			3.5			(0.2	)		(1.9	)		(2.1	)
Foreign exchange impact		—			(64.1	)		(64.1	)		—			(62.1	)		(62.1	)
Fair value of plan assets at end of period		150.3			836.9			987.2			156.7			813.3			970.0
Underfunded status at end of year	$	(62.8	)	$	(287.3	)	$	(350.1	)	$	(58.3	)	$	(291.2	)	$	(349.5	)
Accumulated benefit obligation at end of year	$	213.1		$	1,076.9		$	1,290.0		$	210.4		$	1,065.6		$	1,276.0

⁽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.

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)	2016		2015			2014
Net periodic benefit cost:
U.S. and international net periodic benefit cost (income) included in cost of sales	$	0.4	$	(0.5	)	$	5.6
U.S. and international net periodic benefit cost included in selling, general and administrative expenses		11.0		10.7			10.6
Total benefit cost	$	11.4	$	10.2		$	16.2

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

	December 31,									December 31,									December 31,
	2016									2015									2014
(In millions)	U.S.			International			Total			U.S.			International			Total			U.S.			International			Total
Components of net periodic benefit cost or (income):
Service cost	$	0.6		$	10.0		$	10.6		$	0.7		$	10.6		$	11.3		$	1.1		$	8.9		$	10.0
Interest cost		7.8			25.5			33.3			8.6			29.0			37.6			8.7			39.3			48.0
Expected return on plan assets		(10.0	)		(35.7	)		(45.7	)		(11.4	)		(39.3	)		(50.7	)		(11.2	)		(42.9	)		(54.1	)
Other adjustments		1.3			—			1.3			—			—			—			—			—			—
Amortization of net prior service cost		—			—			—		—				0.1			0.1			—			0.1			0.1
Amortization of net actuarial loss		2.2			8.9			11.1			1.8			8.9			10.7			0.8			9.1			9.9
Net periodic benefit cost (income)		1.9			8.7			10.6			(0.3	)		9.3			9.0			(0.6	)		14.5			13.9
Cost (income) of settlement/curtailment		0.6			0.2			0.8			1.6			(0.4	)		1.2			—			2.3			2.3
Total benefit cost (income)	$	2.5		$	8.9		$	11.4		$	1.3		$	8.9		$	10.2		$	(0.6	)	$	16.8		$	16.2

Amounts Included in Consolidated Balance Sheets

Amounts included in the Consolidated Balance Sheet consisted of:

	December 31,									December 31,
	2016									2015
(In millions)	U.S.			International			Total			U.S.			International			Total
Other assets	$	—		$	24.0		$	24.0		$	—		$	33.7		$	33.7
Other current liabilities		—			(4.2	)		(4.2	)		—			(4.0	)		(4.0	)
Other liabilities		(62.8	)		(307.1	)		(369.9	)		(58.3	)		(319.8	)		(378.1	)
Net amount recognized	$	(62.8	)	$	(287.3	)	$	(350.1	)	$	(58.3	)	$	(290.1	)	$	(348.4	)

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, 2016 and 2015 are:

	December 31,								December 31,
	2016								2015
(In millions)	U.S.		International			Total			U.S.		International		Total
Unrecognized prior service costs	$	—	$	(2.1	)	$	(2.1	)	$	—	$	0.1	$	0.1
Unrecognized net actuarial loss		42.0		325.9			367.9			40.9		321.2		362.1
Total	$	42.0	$	323.8		$	365.8		$	40.9	$	321.3	$	362.2

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, 2016 and 2015 were as follows:

	December 31,									December 31,
	2016									2015
(In millions)	U.S.			International			Total			U.S.			International			Total
Current year actuarial (gain) loss	$	3.6		$	32.4		$	36.0		$	14.6		$	30.2		$	44.8
Amortization of actuarial loss		(2.3	)		(8.9	)		(11.2	)		(1.7	)		(8.9	)		(10.6	)
Amortization of prior service cost	—				—			—		—				(0.1	)		(0.1	)
Current year valuation adjustments		0.3			(2.3	)		(2.0	)		—			(0.3	)		(0.3	)
Settlement/curtailment (gain) loss		(0.6	)		(0.2	)		(0.8	)		(1.6	)		0.7			(0.9	)
Total recognized in other comprehensive loss	$	1.0		$	21.0		$	22.0		$	11.3		$	21.6		$	32.9

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, 2017 are as follows:

	Year Ended
	2017
(In millions)	U.S.		International			Total
Unrecognized prior service costs	$	—	$	(0.1	)	$	(0.1	)
Unrecognized net actuarial loss		0.9		10.4			11.3
Total	$	0.9	$	10.3		$	11.2

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, 2016 and 2015 are as follows:

	December 31,						December 31,
	2016						2015
(In millions)	U.S.		International		Total		U.S.		International		Total
Accumulated benefit obligation	$	213.1	$	760.5	$	973.6	$	210.4	$	751.4	$	961.8
Fair value of plan assets		150.3		488.7		639.0		156.7		458.3		615.0

Weighted Average Assumptions Used to Determine Benefit Obligations

Weighted average assumptions used to determine benefit obligations at December 31, 2016 and 2015 were as follows:

	December 31,						December 31,
	2016						2015
(In millions)	U.S.			International			U.S.			International
Benefit obligations
Discount rate		4.0	%		2.2	%		4.3	%		2.6	%
Rate of compensation increase	N/A				2.4	%		3.0	%		2.5	%
Social security increase rate	N/A				1.8	%		3.0	%		1.6	%
Pension increase rate		3.0	%		1.7	%	N/A				1.6	%

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost

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

	December 31,						December 31,						December 31,
	2016						2015						2014
(In millions)	U.S.			International			U.S.			International			U.S.			International
Net periodic benefit cost
Discount rate		4.3	%		2.6	%		3.9	%		2.7	%		4.6	%		3.8	%
Expected long-term rate of return		6.7	%		4.5	%		6.5	%		4.9	%		6.5	%		5.2	%
Rate of compensation increase		3.0	%		2.5	%		3.0	%		2.7	%		3.0	%		2.9	%
Social security increase rate		3.0	%		1.6	%		3.0	%		1.6	%		4.0	%		1.9	%
Pension increase rate	N/A				1.6	%	N/A				1.6	%	N/A				1.8	%

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
2017	$	14.2	$	38.9	$	53.1
2018		14.2		33.4		47.6
2019		14.1		34.2		48.3
2020		13.2		36.3		49.5
2021		13.1		39.1		52.2
Thereafter		66.1		218.0		284.1
Total	$	134.9	$	399.9	$	534.8

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:

	2016								2015
	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⁾	$	6.0	$	4.4	$	1.6	$	—	$	6.3	$	2.1	$	4.2	$	—
Fixed income funds⁽²⁾		444.0		—		444.0	—			440.8	—			440.8	—
Equity funds⁽³⁾		362.8		—		362.8	—			380.0	—			380.0	—
Other⁽⁴⁾		174.4		—		38.4		136.0		142.9	—			26.0		116.9
Total	$	987.2	$	4.4	$	846.8	$	136.0	$	970.0	$	2.1	$	851.0	$	116.9

⁽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)	2016			2015
Balance at beginning of period	$	116.9		$	123.2
Gains on assets still held at end of year		5.4			6.1
Purchases, sales, issuance, and settlements		1.6			(1.1	)
Transfers in and/or out of Level 3		22.6			(4.9	)
Foreign exchange (loss)/gain		(10.5	)		(6.4	)
Balance at end of period	$	136.0		$	116.9

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

12 Months Ended

Dec. 31, 2016

Funded Status for Pension Plans

	December 31,									December 31,
	2016									2015
(In millions)	U.S.			International			Total			U.S.			International			Total
Change in benefit obligation:
Projected benefit obligation at beginning of period	$	215.0		$	1,104.5		$	1,319.5		$	221.4		$	1,148.1		$	1,369.5
Service cost		0.6			10.0			10.6			0.7			10.6			11.3
Interest cost		7.8			25.5			33.3			8.6			29.0			37.6
Actuarial loss (gain)		8.9			89.9			98.8			(3.5	)		15.2			11.7
Settlement/curtailment		(11.4	)		(0.8	)		(12.2	)		(4.9	)		(6.5	)		(11.4	)
Benefits paid		(12.7	)		(33.9	)		(46.6	)		(13.7	)		(34.5	)		(48.2	)
Employee contributions		—			2.8			2.8			—			3.5			3.5
Other⁽¹⁾		4.9			(2.8	)		2.1			6.4			27.1			33.5
Foreign exchange impact		—			(71.0	)		(71.0	)		—			(88.0	)		(88.0	)
Projected benefit obligation at end of period		213.1			1,124.2			1,337.3			215.0			1,104.5			1,319.5
Change in plan assets:
Fair value of plan assets at beginning of period		156.7			813.3			970.0			181.6			862.4			1,044.0
Actual return on plan assets		9.1			93.1			102.2			(5.6	)		20.0			14.4
Employer contributions		0.2			25.0			25.2			0.5			28.2			28.7
Employee contributions		—			2.8			2.8			—			3.5			3.5
Benefits paid		(12.7	)		(33.9	)		(46.6	)		(13.7	)		(34.5	)		(48.2	)
Settlement/curtailment		(5.1	)		(0.7	)		(5.8	)		(5.9	)		(2.3	)		(8.2	)
Other		2.1			1.4			3.5			(0.2	)		(1.9	)		(2.1	)
Foreign exchange impact		—			(64.1	)		(64.1	)		—			(62.1	)		(62.1	)
Fair value of plan assets at end of period		150.3			836.9			987.2			156.7			813.3			970.0
Underfunded status at end of year	$	(62.8	)	$	(287.3	)	$	(350.1	)	$	(58.3	)	$	(291.2	)	$	(349.5	)
Accumulated benefit obligation at end of year	$	213.1		$	1,076.9		$	1,290.0		$	210.4		$	1,065.6		$	1,276.0

⁽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
2017	$	14.2	$	38.9	$	53.1
2018		14.2		33.4		47.6
2019		14.1		34.2		48.3
2020		13.2		36.3		49.5
2021		13.1		39.1		52.2
Thereafter		66.1		218.0		284.1
Total	$	134.9	$	399.9	$	534.8

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)	2016			2015
Change in benefit obligations:
Benefit obligation at beginning of period	$	65.8		$	79.8
Service cost		0.2			0.9
Interest cost		1.9			3.0
Actuarial loss (gain)		(6.3	)		(4.7	)
Benefits paid, net		(4.3	)		(4.1	)
Loss due to exchange rate movements		—			(0.6	)
Plan amendments		(1.9	)		(8.5	)
Benefit obligation at end of period	$	55.5		$	65.8
Change in plan assets:
Fair value of plan assets at beginning of period	$	—		$	—
Employer contribution		4.3			4.1
Benefits paid, net		(4.3	)		(4.1	)
Fair value of plan assets at end of period	$	—		$	—
Net amount recognized:
Underfunded status	$	(55.5	)	$	(65.8	)
Accumulated benefit obligation at end of year	$	55.5		$	65.8
Net amount recognized in consolidated balance sheets consists of:
Current liability		(3.0	)		(5.1	)
Noncurrent liability		(52.5	)		(60.7	)
Net amount recognized	$	(55.5	)	$	(65.8	)
Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	$	2.4		$	8.6
Prior service credit		(17.9	)		(17.6	)
Total	$	(15.5	)	$	(9.0	)

Components Of Net Periodic Benefit Cost Other Post Employment Benefit Plans

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

(In millions)	2016			2015			2014
Components of net periodic benefit cost:
Service cost	$	0.2		$	0.9		$	0.8
Interest cost		1.9			3.0			3.2
Amortization of net loss		—			0.4			0.1
Amortization of prior service credit		(1.6	)		(0.8	)		(0.7	)
Net periodic benefit cost	$	0.6		$	3.5		$	3.4

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

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

	December 31,
(In millions)	2016
Unrecognized prior service costs	$	(1.7	)
Unrecognized net actuarial loss		(0.1	)
Total		(1.8	)

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, 2016:

(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		2.6		0.6

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
2017	$	3.1
2018		3.4
2019		3.8
2020		4.2
2021		4.2
Thereafter		19.0
Total	$	37.7

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Earnings (Loss) Before Income Tax Provision

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

	Year Ended December 31,
(In millions)	2016		2015		2014
Domestic	$	168.7	$	102.8	$	(62.2	)
Foreign		397.2		323.1		329.4
Total	$	565.9	$	425.9	$	267.2

Schedule of Recognition of Excess Tax Benefits in Provision for Income Taxes

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

	Year Ended December 31,
(In millions)	2016			2015			2014
Current tax expense (benefit):
Federal	$	31.3		$	6.3		$	(216.0	)
State and local		(1.3	)		7.3			0.2
Foreign		107.3			99.5			78.7
Total current expense (benefit)		137.3			113.1			(137.1	)
Deferred tax expense (benefit):
Federal		(42.4	)		(35.7	)		176.8
State and local		5.7			10.9			(27.2	)
Foreign		(21.1	)		2.2			(3.4	)
Total deferred tax expense (benefit)		(57.8	)		(22.6	)		146.2
Total income tax provision	$	79.5		$	90.5		$	9.1

Components of Deferred Tax Assets (Liabilities)

Deferred tax assets (liabilities) consist of the following:

	December 31,			December 31,
(In millions)	2016			2015
Restructuring reserves	$	6.3		$	9.1
Accruals not yet deductible for tax purposes		33.5			45.6
Net operating loss carry forwards		248.8			250.1
Foreign, federal and state credits and investment tax allowances		144.0			162.2
Employee benefit items		169.3			166.5
Capitalized expenses		76.8			54.9
Other		—			37.5
Gross deferred tax assets		678.7			725.9
Valuation allowance		(218.1	)		(257.4	)
Total deferred tax assets		460.6			468.5
Depreciation and amortization		(33.3	)		(30.3	)
Unremitted foreignearnings		(19.8	)		(44.1	)
Intangibles		(243.9	)		(264.5	)
Other		(4.1	)		—
Total deferred tax liabilities		(301.1	)		(338.9	)
Net deferred tax assets	$	159.5		$	129.6

Reconciliation of the Provision for Income Taxes

	Year Ended December 31,
	2016					2015					2014
Computed expected tax	$	198.1		35.0	%	$	149.1		35.0	%	$	93.5		35.0	%
State income taxes, net of federal tax benefit		10.3		1.8	%		5.2		1.2	%		(5.7	)	(2.1	)%
Foreign earnings taxed at lower rates		(31.2	)	(5.5	)%		(21.8	)	(5.1	)%		(35.2	)	(13.2	)%
U.S. tax on foreign earnings		26.9		4.8	%		12.1		2.8	%		10.5		3.9	%
Foreign tax credits		(57.9	)	(10.2	)%		(54.4	)	(12.8	)%		—		(—	)%
Unremitted foreign earnings		(24.3	)	(4.3	)%		(86.0	)	(20.2	)%		(5.2	)	(1.9	)%
Stock compensation		(16.6	)	(2.9	)%		—		(—	)%		—		(—	)%
Overall foreign loss recapture		—		(—	)%		67.9		15.9	%		—		(—	)%
Net change in valuation allowance		(35.5	)	(6.4	)%		(58.2	)	(13.7	)%		(13.2	)	(4.9	)%
Net change in unrecognized tax benefits		(28.8	)	(5.1	)%		56.8		13.3	%		(23.4	)	(8.8	)%
Deferred tax asset adjustments		36.9		6.5	%		17.1		4.0	%		—		(—	)%
Reorganization tax benefit		—		(—	)%		—		(—	)%		(2.2	)	(0.9	)%
Other		1.6		0.3	%		2.7		0.6	%		(10.0	)	(3.7	)%
Effective income tax rate	$	79.5		14.0	%	$	90.5		21.2	%	$	9.1		3.4	%

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,
	2016			2015			2014
Beginning balance of unrecognized tax benefits	$	239.1		$	188.9		$	221.9
Additions for tax positions of current year		13.4			3.1			5.2
Additions for tax positions of prior years		23.3			111.9			7.7
Reductions for tax positions of prior years		(23.0	)		(7.2	)		(39.8	)
Reductions for lapses of statutes of limitation		(40.7	)		(57.6	)		(6.2	)
Ending balance of unrecognized tax benefits	$	212.1		$	239.1		$	188.9

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2016

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)
2017	$	84.7
2018		54.2
2019		20.0
2020		13.4
2021		12.6
Thereafter		—
Total	$	184.9

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

At December 31, 2016, estimated future minimum annual rental commitments under non-cancelable real and personal property leases were as follows:

Year	Amount (in millions)
2017	$	39.2
2018		30.5
2019		20.2
2020		12.6
2021		10.7
Thereafter		9.0
Total	$	122.2

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

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 years ended December 31:

			Total Cash Dividends
(In millions, except per share amounts)	Total Cash Dividends Paid		Paid Per Common Share
2014	$	110.9	$	0.52
2015		106.8		0.52
2016		121.6		0.61
Total	$	339.3

Summary of Changes in Common Stock and Common Stock in Treasury

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

	2016			2015			2014
Changes in common stock:
Number of shares, beginning of year		225,625,636			224,683,653			205,707,580
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		481,834			419,844			572,089
Restricted stock shares, forfeited		(89,699	)		(185,056	)		—
Shares issued for vested restricted stock units		179,826			172,071			136,197
Shares issued for 2012 President and Chief Operating Officer (COO) Four-Year Award		325,000			—			—
Shares issued for 2013 Three-Year PSU Awards		1,074,017			—			—
Shares issued for 2012 Three-Year PSU Awards		—			442,985			—
Shares issued for 2011 Three-Year PSU Awards		—			—			145,597
Shares issued for SLO Awards		20,587			71,893			101,062
Shares granted and issued under the Omnibus Incentive Plan and Directors Stock Plan to Directors		21,537			20,246			21,128
Number of shares issued, end of year		227,638,738			225,625,636			224,683,653
Changes in common stock in treasury:
Number of shares held, beginning of year		29,612,337			14,151,759			9,508,908
Repurchase of common stock		4,680,313			16,123,111			5,427,432
Profit sharing contribution paid in stock		(830,613	)		(787,463	)		(965,238	)
Restricted stock shares forfeitures transferred to Omnibus Incentive Plan Reserve		—			(75,638	)		—
Restricted stock shares, forfeited		(1,813	)		—			106,220
Shares withheld for taxes		696,131			200,568			74,437
Number of shares held, end of year		34,156,355			29,612,337			14,151,759
Number of common stock outstanding, end of year		193,482,383			196,013,299			210,531,894

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

(in millions)	2016		2015		2014
2016 Three-year PSU Awards	$	6.3	$	—	$	—
2016 President & CEO Inducement Award		0.5		—		—
2015 Three-year PSU Awards		3.5		4.7		—
2014 Special PSU Awards⁽¹⁾		8.8		15.7		11.8
2014 Three-year PSU Awards		4.9		7.0		6.8
2013 Three-year PSU Awards		—		4.7		8.2
2012 Three-year PSU Awards		—		—		1.8
2013 WVH Incentive Compensation⁽²⁾		—		—		1.3
2012 President & COO Four-year Incentive Compensation⁽³⁾		0.2		0.3		0.4
SLO Awards		2.5		3.7		4.6
Other long-term share-based incentive compensation programs⁽⁴⁾		36.2		25.1		19.2
Total share-based incentive compensation expense⁽⁵⁾	$	62.9	$	61.2	$	54.1
Associated tax benefits recognized	$	19.7	$	18.6	$	15.7

⁽¹⁾	The amount does not include expense related to the 2014 Special PSU awards that will be settled in cash of $1.6 million in the year ended December 31, 2016.

⁽²⁾

⁽³⁾	The amount includes only the two initial performance-based equity awards. See below for further detail.

⁽⁴⁾	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.

⁽⁵⁾	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.

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)	2016		2015		2014
Fair value of restricted stock shares vested	$	10.0	$	10.2	$	7.6
Fair value of restricted stock units vested	$	5.2	$	3.0	$	3.2

Summary of Assumptions Used to Calculate the Grant Date Fair Value

The assumptions used to calculate the grant date fair value of the performance-vesting Inducement Award are shown in the following table:

	2016 Performance-vesting Inducement Award
Fair value on grant date	$	12.55
Expected price volatility		24.60	%
Risk-free interest rate		0.92	%

Restricted Stock and Restricted Stock Units [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 units for 2016:

	Restricted stock shares							Restricted stock units
	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, 2015		1,269,775		$	35.09				882,449		$	35.93
Granted		481,834		$	44.16				428,595		$	43.37
Vested		(351,235	)	$	28.38	$	16.3		(179,826	)	$	28.97	$	8.3
Forfeited or expired		(87,886	)	$	36.43				(29,774	)	$	30.56
Non-vested at December 31, 2016		1,312,488		$	40.13				1,101,444		$	40.11

Schedule of Unrecognized Compensation Cost

(In millions)	Unrecognized Compensation Costs		Weighted Average to be recognized (in years)
Restricted Stock shares	$	22.9		1.2
Restricted Stock units	$	18.8		1.1

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:

2016

2015

2014

Number of units granted

165,391

158,964

239,851

Weighted average fair value on grant

date

43.10

46.05

32.72

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

	2016			2015			2014
Number of units granted		124,755			65,796			129,150
Weighted average fair value on grant date	$	57.14		$	59.91		$	43.13
Expected Price volatility		26.50	%		29.90	%		32.90	%
Risk-free interest rate		0.98	%		1.05	%		0.63	%

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, 2016:

	Estimated Payout %
	Adjusted EBITDA			TSR			Combined
2016 Three-year PSU Awards		100	%		100	%		100	%
2015 Three-year PSU Awards		100	%		168	%		124	%
2014 Three-year PSU Awards		200	%		188	%		196	%

Summary of Activity for Outstanding Three-year PSU Awards

The following table summarizes activity for outstanding Three-year PSU awards (excluding 2014 Special PSU Award) for 2016:

	Shares			Aggregate Intrinsic Value (in millions) ⁽²⁾
Outstanding at December 31, 2015		1,081,445
Granted(1)		290,146
Converted		(537,009	)	$	46.6
Forfeited or expired		(6,870	)
Outstanding at December 31, 2016		827,712
Fully vested at December 31, 2016		374,267		$	17.0

⁽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⁾	The aggregate intrinsic value is based on the actual number of PSUs earned and vested at December 31, 2015 which were issued in February 2016.

Summary of Activity for Non-Vested PSUs Awards

The following table summarizes activity for non-vested Three-year PSU awards (excluding 2014 Special PSU Award) for 2016:

	Shares			Weighted-Average per Share Fair Value on Grant Date
Non-vested at December 31, 2015		550,005		$	41.99
Granted		290,146		$	49.14
Vested		(374,267	)	$	38.13
Forfeited or expired		(6,870	)	$	49.14
Non-vested at December 31, 2016		459,014		$	49.55

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)
2016 Three-year PSU Awards	$	7.7		2.0
2015 Three-year PSU Awards	$	3.0		1.0
2014 Three-year PSU Awards	$	—		—

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)

2016

2015

2014

Fair value of three-year PSU awards

vested

14.3

20.1

5.9

Omnibus Incentive Plan and Predecessor Plans [Member]

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

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:


	2016			2015			2014
Number of shares available, beginning of year		7,694,739			8,775,994			5,676,699
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		(481,834	)		(419,844	)		(572,089	)
Restricted stock shares forfeited		87,886			185,056			106,220
Restricted stock units awarded		(428,595	)		(300,085	)		(431,987	)
Restricted stock units forfeited		29,774			38,100			9,800
Shares issued for 2012 President and COO Four-Year Award		(325,000	)		—			—
Shares issued for 2013 Three-Year PSU Awards		(1,074,017	)		—			—
Shares issued for 2012 Three-year PSU Awards		—			(442,985	)		—
Shares issued for 2011 Three-year PSU Awards		—			—			(145,597	)
Restricted stock shares issued for SLO Awards		—			—			(96,773	)
Restricted stock units awarded for SLO Awards		(81,614	)		(134,078	)		(48,528	)
SLO units forfeited		—			13,752			—
Director shares granted and issued		(18,022	)		(20,246	)		(21,128	)
Director units granted and deferred⁽¹⁾		(17,447	)		(925	)		(20,444	)
Shares withheld for taxes⁽²⁾		696,131			—			69,821
Number of shares available, end of year ⁽³⁾		6,082,001			7,694,739			8,775,994

⁽¹⁾	Director units granted and deferred include the impact of share-settled dividends earned and deferred on deferred shares.

⁽²⁾	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.

⁽³⁾	The above table excludes approximately 3.3 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, 2016.

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2016

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, 2014⁽¹⁾	$	(250.1	)	$	(369.9	)	$	—	$	6.2		$	(613.8	)
Other comprehensive income (loss) before reclassifications		(24.0	)		(194.1	)		1.7		26.5			(189.9	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		8.1			—			—		(24.4	)		(16.3	)
Net current period other comprehensive income (loss)		(15.9	)		(194.1	)		1.7		2.1			(206.2	)
Balance at December 31, 2015⁽¹⁾		(266.0	)		(564.0	)		1.7		8.3			(820.0	)
Other comprehensive income (loss) before reclassifications		(18.0	)		(91.9	)		19.3		(16.7	)		(107.3	)
Less: amounts reclassified from accumulated other comprehensive income (loss)		7.3			(46.0	)		—		16.9			(21.8	)
Net current period other comprehensive income (loss)		(10.7	)		(137.9	)		19.3		0.2			(129.1	)
Balance at December 31, 2016⁽¹⁾	$	(276.7	)	$	(701.9	)	$	21.0	$	8.5		$	(949.1	)

⁽¹⁾	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $(8.3) million, $31.1 million and $58.9 million for the years ended December 31, 2016, 2015 and 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)	2016⁽¹⁾			2015⁽¹⁾			2014⁽¹⁾			Location of Amount Reclassified from AOCI
Defined benefit pension plans and other post- employment benefits:
Prior service costs	$	1.6		$	0.7		$	0.5		⁽²⁾
Actuarial losses		(11.2	)		(11.1	)		(10.0	)	⁽²⁾
Total pre-tax amount		(9.6	)		(10.4	)		(9.5	)
Tax (expense) benefit		2.3			2.3			2.9
Net of tax		(7.3	)		(8.1	)		(6.6	)
Reclassifications from cumulative translation adjustment:
Charges related to Venezuelan subsidiaries		46.0			—			—		⁽⁴⁾
Net gains (losses) on cash flow hedging derivatives:
Foreign currency forward contracts		0.6			9.6			1.9		⁽³⁾Other income, net
Interest rate and currency swaps		(25.9	)		25.7			13.5		⁽³⁾Various
Treasury locks		0.1			0.1			0.1		⁽³⁾ Interest expense
Total pre-tax amount		(25.2	)		35.4			15.5
Tax (expense) benefit		8.3			(11.0	)		(5.2	)
Net of tax		(16.9	)		24.4			10.3
Total reclassifications for the period	$	(24.2	)	$	16.3		$	3.7

⁽¹⁾	Amounts in parenthesis indicate changes to earnings (loss) .

⁽²⁾	These accumulated other comprehensive components are included in the computation of net periodic benefit costs within cost of sales and selling, general, and administrative expenses on the Consolidated Statement of Operations.

⁽³⁾	These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 12, “Derivatives and Hedging Activities” of the Notes to Consolidated Financial Statements for additional details.

⁽⁴⁾

Other Income, net (Tables)

12 Months Ended

Dec. 31, 2016

Details of Other Income, net

The following table provides details of other income, net:

	Year Ended December 31,
(In millions)	2016			2015			2014
Interest income	$	13.0		$	13.5		$	15.5
Net foreign exchange transaction gains (losses)		8.3			5.3			(7.8	)
Bank fee expense		(5.8	)		(5.8	)		(5.0	)
Net (loss) gain on disposals of property and equipment and other		(1.4	)		3.3			—
Other, net⁽¹⁾		(2.9	)		3.6			6.1
Other income, net	$	11.2		$	19.9		$	8.8

⁽¹⁾	In 2015, we sold our joint venture that supported our Food Care segment in Turkey. We recognized earnings before income tax provision of $9.1 million in 2015 related to this transaction.

Net Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Net Earnings Per Common Share

The following table sets forth the calculation of basic and diluted net earnings per common share under the two-class method for the years ended December 31:

	Year Ended December 31,
(In millions, except per share amounts)	2016			2015			2014
Basic Net Earnings Per Common Share:

Numerator
Net earnings available to common stockholders	$	486.4		$	335.4		$	258.1
Distributed and allocated undistributed net earnings to non- vested restricted stockholders		(3.4	)		(2.2	)		(1.6	)
Distributed and allocated undistributed net earnings to common stockholders		483.0			333.2			256.5
Distributed net earnings - dividends paid to common stockholders		(118.7	)		(106.2	)		(110.1	)
Allocation of undistributed net earnings to common stockholders	$	364.3		$	227.0		$	146.4
Denominator
Weighted average number of common shares outstanding - basic		194.3			203.9			210.0
Basic net earnings per common share:
Distributed net earnings to common stockholders	$	0.61		$	0.52		$	0.52
Allocated undistributed net earnings to common stockholders		1.87			1.11			0.70
Basic net earnings per common share⁽²⁾	$	2.49		$	1.63		$	1.22
Diluted Net Earnings Per Common Share:
Numerator
Distributed and allocated undistributed net earnings to common stockholders	$	483.0		$	333.2		$	256.5
Add: Allocated undistributed net earnings to unvested restricted stockholders		2.6			1.6			1.0
Less: Undistributed net earnings reallocated to non- vested restricted stockholders		(2.6	)		(1.6	)		(0.9	)
Net earnings available to common stockholders - diluted	$	483.0		$	333.2		$	256.6
Denominator
Weighted average number of common shares outstanding - basic		194.3			203.9			210.0
Effect of assumed issuance of Settlement agreement shares⁽¹⁾		—			—			1.6
Effect of contingently issuable shares⁽¹⁾		1.2			1.3			0.9
Effect of unvested restricted stock units⁽¹⁾		0.7			0.7			0.8
Weighted average number of common shares outstanding - diluted under two-class		196.2			205.9			213.3
Effect of unvested restricted stock - participating security⁽¹⁾		1.0			0.8			0.6
Weighted average number of common shares outstanding - diluted under treasury stock		197.2			206.7			213.9
Diluted net earnings per common share⁽²⁾	$	2.46		$	1.62		$	1.20

(1)

⁽²⁾

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

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

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

	2016
	First		Second		Third		Fourth
(In millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter
Net sales	$	1,590.6	$	1,727.0	$	1,716.6	$	1,744.1
Gross profit		589.3		661.4		640.0		640.9
Net earnings available to common stockholders⁽¹⁾		102.4		49.6		163.3		171.1
Net earnings per common share - basic⁽¹⁾⁽²⁾	$	0.51	$	0.25	$	0.84	$	0.89
Net earnings per common share - diluted⁽¹⁾⁽²⁾	$	0.51	$	0.25	$	0.83	$	0.87

	2015
	First		Second		Third		Fourth
(In millions, except per share amounts)	Quarter		Quarter		Quarter		Quarter⁽³⁾
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

⁽¹⁾

The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional diluted weighted average number of common shares outstanding of 404,347, 456,352, 377,130 and 536,975 and recognition of excess tax benefits in the income tax provision of $10.6 million, zero, $1.8 million and $5.7 million for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. As a result, net earnings per common share increased by $0.05 per share, zero, $0.01 per share and $0.04 per share for three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.

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

⁽³⁾	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” of the Notes to Consolidated Financial Statements for further information.

Organization and Nature of Operations - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016 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

3 Months Ended

12 Months Ended

Jun. 30, 2016

USD ($)

Dec. 31, 2016

USD ($)

Bank

Bs. / $

Dec. 31, 2015

USD ($)

Bs. / $

Dec. 31, 2014

USD ($)

Bs. / $

Mar. 10, 2016

Bs. / $

Feb. 12, 2015

Bs. / $

Net cash provided by (used in) operating activities

$ 906.9

$ 982.1

^[1],[2]

$ (218.8)

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

Net cash (used in) provided by financing activities

^[4]

(540.9)

(788.7)

^[1],[2]

(321.2)

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

Reclassification of cash and cash equivalents to other receivables

6.7

7.5

Reclassification resulted in an increase in cash provided (used in) by operating activities

0.8

2.4

Foreign currency transaction gain (loss) related to remeasurement

(3.4)

(33.1)

^[1],[2]

(20.4)

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

Depreciation and amortization expenses related to fixed assets and intangible assets

^[5]

13.2

78.3

65.7

214.0

213.3

^[1],[2]

266.7

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

Income tax expense

^[6]

79.5

$ 90.5

$ 9.1

^[5]

$ (46.0)

Charges for rebates and other allowances

10.00%

9.00%

Research and development costs

$ 130.8

$ 129.3

$ 134.6

Target level for the determination of performance goals and measures

100.00%

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

10.00%

11.00%

Accounting Standards Update 2015-03 And 2015-15 [Member]

Decrease in other non-current assets

$ 35.9

Decrease in long-term debt

35.9

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

Maximum [Member]

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

Venezuela Subsidiaries [Member]

10 years

$ 53.0

$ 52.1

^[6]

Venezuela Subsidiaries [Member] | Selling, General and Administrative Expenses [Member]

0.3

Inventory reserves

0.9

Income tax expense

1.0

(46.0)

Depreciation and amortization expenses related to fixed assets and intangible assets

$ 4.8

Venezuela [Member]

Foreign currency transaction gain (loss) related to remeasurement

$ (3.4)

$ (33.1)

$ (20.4)

Venezuela [Member] | SICAD [Member]

Venezuela [Member] | CENCOEX [Member]

13.5

49.9883

12.0

Venezuela [Member] | SIMADI [Member]

6.3

Venezuela [Member] | DIPRO [Member]

198.6986

170.0390

Venezuela [Member] | DICOM [Member]

10.0

Restatement Adjustment [Member]

673.7617

203.0

An increase to other non-current liabilities due to asset retirement obligations

$ 15.0

An increase to property and equipment, net due to asset retirement obligations

15.0

Restatement Adjustment [Member] | Misclassification Of Compensating Balance Arrangements And External Payment Terms

Reclassification of accounts payable to short term borrowings

6.4

$ 6.3

Net cash provided by (used in) operating activities

0.1

6.4

Net cash (used in) provided by financing activities

$ 0.1

$ 6.4

[1]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[3]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[4]	The Company early adopted ASU 2016-09 on a retrospective basis related to the classification of excess tax benefits on the Statement of Cash Flows, effective January 1, 2016, which resulted in an increase in operating cash flow of $6.8 million and a decrease in financing activities of $6.8 million for the year ended December 31, 2016 and an increase in operating cash flow of $13.1 million and a decrease in financing activities of $13.1 million for the year ended December 31, 2015. There was no impact on the year ended December 31, 2014. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details
[5]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further details
[6]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.

Summary of Significant Accounting Policies and Recently Issued Accounting Standards - Schedule of Recognition of Excess Tax Benefits in Provision for Income Taxes (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Excess tax benefit

^[1]

$ 79.5

$ 90.5

$ 9.1

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Excess tax benefit

$ 18.1

[1]

Summary of Significant Accounting Policies and Recently Issued Accounting Standards - Schedule of Diluted Weighted Average Number of Common Shares Outstanding (Detail) - shares

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Increase in diluted weighted average number of common shares outstanding

^[1]

197,200,000

206,700,000

213,900,000

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Increase in diluted weighted average number of common shares outstanding

446,747

[1]

Summary of Significant Accounting Policies and Recently Issued Accounting Standards - Schedule of Changes in Earnings Per Share Basic and Diluted Effect of New Accounting Adoption (Detail) - $ / shares

3 Months Ended

12 Months Ended

Dec. 31, 2016

^[1],[2]

Sep. 30, 2016

^[1],[2]

Jun. 30, 2016

^[1],[2]

Mar. 31, 2016

^[1],[2]

Dec. 31, 2015

^[2],[3]

Sep. 30, 2015

^[2]

Jun. 30, 2015

^[2]

Mar. 31, 2015

^[2]

Dec. 31, 2016

Dec. 31, 2015

^[4],[5]

Dec. 31, 2014

^[4],[5]

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Basic EPS

$ 0.89

$ 0.84

$ 0.25

$ 0.51

$ 0.63

$ 0.43

$ 0.13

$ 0.46

$ 2.49

^[4],[5]

$ 1.63

$ 1.22

Diluted EPS

$ 0.87

$ 0.83

$ 0.25

$ 0.51

$ 0.62

$ 0.42

$ 0.13

$ 0.46

2.46

^[4],[5]

$ 1.62

$ 1.20

Prior to Adoption of Accounting Standards Update 2016-09 [Member]

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Basic EPS

2.39

Diluted EPS

2.36

Upon Adoption of Accounting Standards Update 2016-09 [Member]

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Basic EPS

2.49

Diluted EPS

$ 2.46

[1]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional diluted weighted average number of common shares outstanding of 404,347, 456,352, 377,130 and 536,975 and recognition of excess tax benefits in the income tax provision of $10.6 million, zero, $1.8 million and $5.7 million for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. As a result, net earnings per common share increased by $0.05 per share, zero, $0.01 per share and $0.04 per share for three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.
[2]	The sum of the quarterly per share amounts may not agree to the respective annual amounts due to rounding.
[3]	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” of the Notes to Consolidated Financial Statements for further information.
[4]	The Company early adopted ASU 2016-09 on a prospective basis as required, related to the recognition of excess tax benefits to the Consolidated Statement of Operations which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016, and recognition of excess tax benefits of $18.1 million in the income tax provision for the year ended December 31, 2016. As a result, net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[5]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016 and recognition of excess taxbenefits of $18.1 million in income tax provision for the year ended December 31, 2016. As a result,net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.

Summary of Significant Accounting Policies and Recently Issued Accounting Standards - Schedule of Impact on Consolidated Statement of Cash Flows (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Impact on Net Cash provided by Operating Activities	$ 6.8	$ 13.1
Imapct on Net Cash used in Financing Activities	(6.8)	(13.1)
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Impact on Net Cash provided by Operating Activities	6.8	13.1
Imapct on Net Cash used in Financing Activities	$ (6.8)	$ (13.1)

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

3 Months Ended

12 Months Ended

Nov. 01, 2015

USD ($)

Nov. 01, 2015

EUR (€)

Apr. 02, 2015

USD ($)

Dec. 31, 2016

USD ($)

Sep. 30, 2016

USD ($)

Jun. 30, 2016

USD ($)

Mar. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Sep. 30, 2015

USD ($)

Jun. 30, 2015

USD ($)

Mar. 31, 2015

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2016

EUR (€)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Nov. 02, 2015

USD ($)

Divestitures And Acquisitions Disclosure [Line Items]

Gain (loss) on sale of business

$ 7.8

$ 94.6

^[1],[2]

(1.8)

13.4

$ 1,744.1

$ 1,716.6

$ 1,727.0

$ 1,590.6

$ 1,753.9

^[3]

$ 1,746.2

$ 1,785.0

$ 1,746.4

6,778.3

7,031.5

$ 7,750.5

565.9

425.9

267.2

Intellibot Robotics Limited Liability Company [Member]

2,855.6

2,909.5

^[4],[5]

2,855.6

2,909.5

^[4],[5]

Divestitures And Acquisitions Disclosure [Line Items]

Purchase price of acquisition

17.9

Cash paid for acquisition

8.5

Fair value of contingent consideration

$ 7.3

$ 9.8

9.4

$ 7.3

9.8

Goodwill deductable for tax purpose

6.6

Fair value of identifiable net assets

$ 11.0

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]

Divestitures And Acquisitions Disclosure [Line Items]

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

$ 2.2

0.5

B+ Equipment [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Purchase price of acquisition

19.0

Fair value of identifiable net assets

$ 15.3

Rate of goodwill deductible for tax purpose

0.00%

Percentage of acquired equity interest

100.00%

North American Foam Trays and Absorbent Pads [Member]

$ 6.4

Divestitures And Acquisitions Disclosure [Line Items]

Disposal date

Apr. 01, 2015

Purchase price adjustments

$ 75.6

5.9

Transaction costs

$ 7.2

7.0

Additional transaction costs

$ 0.2

European Food Trays [Member]

Divestitures And Acquisitions Disclosure [Line Items]

Disposal date

Nov. 01, 2015

Purchase price adjustments

$ 19.0

€ 17.6

$ 17.7

€ 16.5

$ 1.9

€ 1.7

48.7

70.9

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

6.9

5.2

Divestitures And Acquisitions Disclosure [Line Items]

Gain (loss) on sale of business

(26.3)

(26.5)

52.9

213.9

10.3

$ 37.4

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

$ 6.9

Divestitures And Acquisitions Disclosure [Line Items]

Gain (loss) on sale of business

$ (1.6)

$ (13.1)

$ 1.5

[1]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[3]	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” of the Notes to Consolidated Financial Statements for further information.
[4]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[5]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.

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

Dec. 31, 2016

Dec. 31, 2015

Nov. 02, 2015

Apr. 02, 2015

ASSETS

$ 659.9

$ 660.8

^[1],[2]

^[2]

1,060.3

945.7

^[1],[3]

Other current liabilities

2,855.6

2,909.5

^[1],[2]

Other non-current assets

^[1]

337.3

345.1

^[2]

Assets

7,389.1

7,405.0

^[1],[2]

Liabilities:

767.7

789.7

^[1],[2]

Long term debt

4,303.2

Other non-current liabilities

^[2]

671.2

729.0

^[1]

Liabilities

$ 6,779.4

$ 6,877.9

^[1],[2]

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

ASSETS

$ 15.2

Prepaid expenses

0.1

22.6

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

6.9

Assets

44.8

Liabilities:

Accrued liabilities

2.7

Liabilities

$ 2.7

ASSETS

Receivables, net

$ 0.2

6.0

Other current assets

0.8

22.4

Other current liabilities

1.5

Other non-current assets

0.4

Assets

31.3

Liabilities:

Accounts payable

1.6

Accrued liabilities

2.1

0.6

Long term debt

0.4

Other non-current liabilities

0.1

Liabilities

$ 4.8

[1]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[2]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.

Segments - Additional Information (Detail)	12 Months Ended
Segments - Additional Information (Detail)	Dec. 31, 2016 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, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

^[1]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

$ 1,744.1

$ 1,716.6

$ 1,727.0

$ 1,590.6

$ 1,753.9

$ 1,746.2

$ 1,785.0

$ 1,746.4

$ 6,778.3

$ 7,031.5

$ 7,750.5

Non-U.S. GAAP Total Company Adjusted EBITDA

17.10%

16.70%

14.40%

$ 1,157.0

$ 1,174.1

$ 1,118.3

Operating Segments [Member] | Food Care [Member]

3,222.1

3,405.1

3,835.3

$ 661.1

$ 689.8

$ 670.2

Operating Segments [Member] | Diversey Care [Member]

20.50%

20.30%

17.50%

$ 1,963.2

$ 1,999.1

$ 2,173.1

$ 251.3

$ 231.9

$ 245.0

Operating Segments [Member] | Product Care [Member]

12.80%

11.60%

11.30%

^[2]

$ 1,523.7

$ 1,553.6

$ 1,662.6

^[2]

$ 331.8

$ 324.1

$ 293.7

21.80%

20.90%

17.70%

Other [Member]

^[2]

$ 69.3

$ 73.7

$ 79.5

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

^[2]

$ (87.2)

$ (71.7)

$ (90.6)

Concentration risk percentage

47.50%

48.40%

49.50%

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

Concentration risk percentage

29.00%

28.40%

28.00%

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

Concentration risk percentage

22.50%

22.10%

21.50%

[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” of the Notes to Consolidated Financial Statements for further information.
[2]	As of January 1, 2016, our Kevothermal business was moved from Other to our Product Care Segment. This resulted in a reclassification of $13.1 million of net sales and $3.1 million of adjusted EBITDA for the year ended December 31, 2015 and $7.6 million of net sales and $1.0 million of adjusted EBITDA for the year ended December 31, 2014.

Segments - Net Sales and Adjusted EBITDA of Reportable Segments (Parenthetical) (Detail) - Kevothermal Business [Member] - Operating Segments [Member] - Product Care [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Reclassified sales	$ 13.1	$ 7.6
Reclassified adjusted EBITDA	$ 3.1	$ 1.0

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

3 Months Ended

12 Months Ended

Dec. 31, 2016

^[1]

Sep. 30, 2016

^[1]

Jun. 30, 2016

Mar. 31, 2016

^[1]

Dec. 31, 2015

^[2]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

$ 171.1

$ 163.3

$ 49.6

^[1]

$ 102.4

$ 123.5

$ 86.6

$ 28.1

$ 97.2

$ 486.4

$ 335.4

^[3],[4]

$ 258.1

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

Interest expense

(213.1)

(227.7)

(287.7)

^[6]

79.5

90.5

9.1

Depreciation and amortization adjustments

^[7],[8]

(278.2)

(274.5)

(320.8)

^[6],[9]

5.4

0.2

2.1

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

^[6],[10]

(12.9)

(78.3)

(65.7)

(28.0)

(42.9)

(35.8)

Development grant matter included in selling, general and administrative expenses

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

(14.0)

Termination of licensing agreement

(5.3)

Stock appreciation rights expense

0.1

(3.9)

(8.1)

Foreign currency exchange (loss) gains related to Venezuelan subsidiaries

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

(5.7)

(3.4)

(33.1)

(20.4)

Gain from Settlement agreement in 2014 and related costs

(0.1)

(110.0)

^[3],[4]

(102.5)

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

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

21.1

(Loss) gain on sale of business, net

(1.8)

13.4

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

(2.5)

(1.6)

11.1

(5.1)

Pre-tax impact of Special Items

^[11]

13.2

78.3

65.7

Other Special Items

^[12]

1.3

(2.5)

(0.7)

(105.2)

(246.2)

(244.7)

Non-U.S. GAAP Total Company Adjusted EBITDA

1,157.0

1,174.1

$ 1,118.3

New Diversey

Venezuela Subsidiaries [Member]

(6.7)

1.0

Cost of sales

(53.0)

(52.1)

^[6]

North American Foam Trays and Absorbent Pads Business and European Food Trays Business [Member]

$ 0.3

0.3

(Loss) gain on sale of business, net

$ (1.8)

$ 13.4

[1]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional diluted weighted average number of common shares outstanding of 404,347, 456,352, 377,130 and 536,975 and recognition of excess tax benefits in the income tax provision of $10.6 million, zero, $1.8 million and $5.7 million for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. As a result, net earnings per common share increased by $0.05 per share, zero, $0.01 per share and $0.04 per share for three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.
[2]	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” of the Notes to Consolidated Financial Statements for further information.
[3]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[5]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[6]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.
[7]	Depreciation and amortization by segment is as follows:
[8]	Includes share-based incentive compensation of $62.9 million in 2016, $61.2 million in 2015, and $54.1 million in 2014
[9]	This includes accelerated depreciation of non-strategic assets related to restructuring programs which were $0.6 million, $0.2 million and $2.1 million for the years ended December 31, 2016, 2015 and 2014, respectively.
[10]	Restructuring and other charges by segment were as follows:
[11]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further details
[12]	Other Special Items for the year ended December 31, 2016 primarily included a reduction in a non-income tax reserve following the completion of a governmental audit partially offset by legal fees associated with restructuring and acquisitions. Other Special Items for the year ended December 31, 2015 primarily included legal fees associated with restructuring and acquisitions. Other Special Items for the year ended December 31, 2014 primarily included legal fees associated with restructuring and acquisitions.

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

3 Months Ended

12 Months Ended

Jun. 30, 2016

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Accelerated depreciation of non-strategic assets related to restructuring programs

$ 0.6

$ 0.2

$ 2.1

^[1],[2]

278.2

274.5

320.8

^[3]

62.9

61.2

54.1

^[4],[5]

12.9

78.3

65.7

Venezuela Subsidiaries [Member]

^[6]

13.2

78.3

65.7

$ 0.3

0.3

Other [Member]

41.1

23.7

31.8

Food Care [Member] | Operating Segments [Member]

0.1

1.0

0.5

102.4

107.9

121.3

Diversey Care [Member] | Operating Segments [Member]

6.2

37.9

27.3

94.6

105.5

126.3

Product Care [Member] | Operating Segments [Member]

3.7

22.2

24.3

40.1

37.4

41.4

Trade receivables, net, and finished goods inventories, net

$ 2.9

$ 17.2

$ 13.6

[1]	Depreciation and amortization by segment is as follows:
[2]	Includes share-based incentive compensation of $62.9 million in 2016, $61.2 million in 2015, and $54.1 million in 2014
[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]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.
[5]	Restructuring and other charges by segment were as follows:
[6]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further details

Segments - Assets by Reportable Segments (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

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

Dec. 31, 2013

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

$ 1,326.9

$ 1,197.1

Cash and cash equivalents

363.7

^[1]

351.7

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

$ 278.7

$ 982.4

^[1]

1,060.3

945.7

^[2],[6]

Operating Segments [Member] | Food Care [Member]

2,855.6

2,909.5

^[1],[2]

Intangible assets, net

710.1

784.3

^[1],[2]

Assets held for sale

3.3

10.3

^[1],[2]

Total assets

7,389.1

7,405.0

^[1],[2]

Trade receivables, net, and finished goods inventories, net

599.6

522.4

Operating Segments [Member] | Diversey Care [Member]

590.4

596.3

Trade receivables, net, and finished goods inventories, net

451.9

440.3

Operating Segments [Member] | Product Care [Member]

891.7

937.9

Trade receivables, net, and finished goods inventories, net

^[7]

261.5

221.9

Operating Segments [Member] | Other Segments [Member]

1,372.1

1,373.7

Trade receivables, net, and finished goods inventories, net

Segment Reconciling Items [Member]

^[7]

13.9

12.5

Cash and cash equivalents

363.7

351.7

1,060.3

945.7

2,855.6

2,909.5

Intangible assets, net

710.1

784.3

Assets held for sale

3.3

10.3

Other

1,069.2

1,206.4

Total assets

$ 7,389.1

$ 7,405.0

[1]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[3]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[5]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[6]	Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.
[7]	As of January 1, 2016, our Kevothermal business was moved from Other to our Product Care Segment. This resulted in a re-classification of $2.3 million of assets from Other to Product Care Segment for the year ended December 31, 2015.

Segments - Assets by Reportable Segments (Parenthetical) (Detail) $ in Millions	Dec. 31, 2015 USD ($)
Kevothermal Business [Member] \| Operating Segments [Member] \| Product Care [Member]
Segment Reporting Information [Line Items]
Re-classification of assets	$ 2.3

Segments - Geographic Information (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

$ 1,744.1

$ 1,716.6

$ 1,727.0

$ 1,590.6

$ 1,753.9

^[1]

$ 1,746.2

$ 1,785.0

$ 1,746.4

$ 6,778.3

$ 7,031.5

$ 7,750.5

^[2]

1,397.6

1,290.8

1,397.6

1,290.8

North America [Member]

^[3]

2,852.8

2,923.2

3,071.9

708.2

585.7

708.2

585.7

EMEA [Member]

2,302.5

2,410.4

2,783.2

370.3

385.5

370.3

385.5

Latin America [Member]

641.1

695.8

807.5

114.9

127.0

114.9

127.0

APAC [Member]

981.9

1,002.1

$ 1,087.9

Entity Wide Information Revenue From External Customer [Line Items]

$ 204.2

$ 192.6

$ 204.2

$ 192.6

[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” of the Notes to Consolidated Financial Statements for further information.
[2]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification of $35.9 million from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Additionally, property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[3]	Net sales to external customers within the U.S. were $2,635.2 million for the year ended December 31, 2016, $2,685.3 million for the year ended December 31, 2015 and $2,797.5 million for the year ended December 31, 2014.

Segments - Geographic Information (Parenthetical) (Detail) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Jan. 01, 2016

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%

$ 1,744.1

$ 1,716.6

$ 1,727.0

$ 1,590.6

$ 1,753.9

^[1]

$ 1,746.2

$ 1,785.0

$ 1,746.4

$ 6,778.3

$ 7,031.5

$ 7,750.5

Restatement Adjustment [Member]

$ 35.9

Entity Wide Information Revenue From External Customer [Line Items]

Increase to property and equipment, net

15.0

Increase to other non-current liabilities

15.0

Restatement Adjustment [Member] | Accounting Standards Update 2015-03 and Accounting Standards Update 2015-15 [Member]

Entity Wide Information Revenue From External Customer [Line Items]

Increase to property and equipment, net

35.9

$ 35.9

15.0

Increase to other non-current liabilities

$ 15.0

15.0

U.S.program [Member]

Entity Wide Information Revenue From External Customer [Line Items]

$ 2,635.2

$ 2,685.3

$ 2,797.5

[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” of the Notes to Consolidated Financial Statements for further information.

Inventories - Inventories (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Inventory Disclosure [Abstract]

Raw materials

$ 115.3

$ 109.6

Work in process

116.4

112.4

Finished goods

428.2

438.8

Property Plant And Equipment Net [Abstract]

$ 659.9

$ 660.8

^[1],[2]

[1]

As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.

[2]

Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.

Inventories - Additional Information (Detail) - Cost of Sales [Member] $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
Inventory [Line Items]
Reimbursement of previously incurred environmental expenses	$ 6.8
Diversey Care [Member]
Inventory [Line Items]
Reimbursement of previously incurred environmental expenses	$ 5.6

Property and Equipment, net - Schedule of Property and Equipment, Net (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

^[1]

Land and improvements

$ 88.3

$ 86.7

Buildings

665.0

606.2

Machinery and equipment

^[2]

2,183.9

2,141.3

Other property and equipment

151.2

139.9

Construction-in-progress

^[2]

227.5

190.7

Property and equipment, gross

3,315.9

3,164.8

Accumulated depreciation and amortization

^[3]

(2,255.6)

(2,219.1)

^[4]

$ 1,060.3

$ 945.7

^[5]

[1]	Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.
[2]	As of December 31, 2015, amounts related to fixed assets in North America remained in construction-in-progress after the assets had been capitalized. As a result, $4.2 million should have been reclassified from construction-in-progress to machinery and equipment.
[3]	As of December 31, 2016, this amount includes $0.5 million related to the accelerated depreciation and amortization of fixed assets related to ceasing operations in Venezuela. See Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the Impact of Inflation and Currency Fluctuation section of the Notes to Consolidated Financial Statements for further details.
[4]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[5]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.

Property and Equipment, net - Schedule of Property and Equipment, Net (Parenthetical) (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Accumulated depreciation and amortization

^[1]

$ 2,255.6

$ 2,219.1

^[2]

Restatement Adjustment [Member]

Increase to property and equipment, net

15.0

Increase to other non-current liabilities

15.0

Venezuela [Member]

Accumulated depreciation and amortization

$ 0.5

North America [Member] | Restatement Adjustment [Member]

Reclassification from construction-in-progress to machinery and equipment

$ 4.2

[1]

[2]

Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.

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, 2016	Dec. 31, 2015	Dec. 31, 2014
Property Plant And Equipment [Abstract]
Interest cost capitalized	$ 11.0	$ 5.4	$ 6.2
Depreciation and amortization expense for property and equipment	$ 120.5	$ 124.6	$ 147.8

Goodwill and Identifiable Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]
Number of steps for goodwill impairment test	Two
Goodwill impairment loss	$ 0
Amortization expense of intangible assets acquired	$ 94,900,000	$ 88,700,000	$ 118,900,000

Goodwill and Identifiable Intangible Assets - Summary of Goodwill Balances by Segment Reporting Structure (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

$ 4,000.5

Accumulated impairment

(1,091.0)

$ (1,091.0)

Operating Segments [Member] | Food Care [Member]

2,855.6

2,909.5

^[1],[2]

8.4

(1.1)

(61.2)

3,946.6

804.3

Accumulated impairment

(208.0)

590.4

596.3

Acquisition

8.4

Currency translation

(14.3)

Operating Segments [Member] | Diversey Care [Member]

798.4

1,820.9

Accumulated impairment

(883.0)

891.7

937.9

Currency translation

(46.2)

Operating Segments [Member] | Product Care [Member]

1,774.7

1,373.7

1,372.1

1,373.7

(1.1)

(0.5)

1,372.1

^[3]

1.6

^[3]

1.4

$ 1.6

Currency translation

^[3]

(0.2)

Food Care - Packaging Solutions [Member]

^[3]

$ 1.4

[1]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[2]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	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, 2016

Percentage of estimated fair value exceeding carrying value

451.00%

Food Care - Hygiene Solutions [Member]

Percentage of estimated fair value exceeding carrying value

247.00%

Diversey Care [Member]

Percentage of estimated fair value exceeding carrying value

92.00%

Product Care [Member]

Percentage of estimated fair value exceeding carrying value

124.00%

Medical Applications [Member]

Percentage of estimated fair value exceeding carrying value

539.00%

^[1]

[1]	Included in the “Other” category for segment reporting purposes – See Note 4, “Segments,” of the Notes to Consolidated Financial Statements 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, 2016

Dec. 31, 2015

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

$ 1,179.9

$ 1,175.6

Intangible assets with definite life, Accumulated Amortization

(549.8)

(471.3)

Intangible assets with definite life, Accumulated Impairment

(171.1)

459.0

533.2

Trademarks and tradenames with indefinite lives [Member]

2,061.2

2,056.9

Accumulated Impairment

(801.3)

Net

710.1

784.3

^[1],[2]

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with indefinite life, Gross Carrying Value

881.3

Intangible assets with indefinite life, Accumulated Impairment

(630.2)

Intangible assets with indefinite life, Net

251.1

Customer relationships [Member]

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

^[3]

828.7

846.2

Intangible assets with definite life, Accumulated Amortization

^[3]

(299.9)

(249.4)

Intangible assets with definite life, Accumulated Impairment

^[3]

(148.9)

Trademarks and tradenames [Member]

^[3]

379.9

447.9

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

1.8

1.7

Intangible assets with definite life, Accumulated Amortization

(0.8)

(0.4)

Capitalized Software [Member]

1.0

1.3

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

165.9

143.0

Intangible assets with definite life, Accumulated Amortization

(137.4)

(125.3)

Finite And Infinite Lived Intangible Assets [Line Items]

28.5

17.7

Technology [Member]

Intangible assets with definite life, Gross Carrying Value

141.2

141.9

Intangible assets with definite life, Accumulated Amortization

(78.1)

(65.0)

Intangible assets with definite life, Accumulated Impairment

(22.2)

Customer Contracts [Member]

40.9

54.7

Finite And Infinite Lived Intangible Assets [Line Items]

Intangible assets with definite life, Gross Carrying Value

42.3

42.8

Intangible assets with definite life, Accumulated Amortization

(33.6)

(31.2)

Indefinite Lived Intangible Assets By Major Class [Line Items]

$ 8.7

$ 11.6

[1]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[2]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	As of December 31, 2016 this amount includes $4.3 million related to the accelerated amortization of intangible assets related to ceasing operations in Venezuela. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.

Goodwill and Identifiable Intangible Assets - Summary of Identifiable Intangible Assets with Definite and Indefinite Useful Lives (Parenthetical) (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Finite-Lived Intangible Assets, Accumulated Amortization

$ 549.8

$ 471.3

Trademarks and tradenames [Member] | Diversey Care [Member]

Indefinite Lived Intangible Assets By Major Class [Line Items]

Indefinite-lived intangible Assets (excluding goodwill)

251.1

Customer relationships [Member]

Indefinite Lived Intangible Assets By Major Class [Line Items]

Finite-Lived Intangible Assets, Accumulated Amortization

^[1]

299.9

$ 249.4

Customer relationships [Member] | Venezuela [Member]

Indefinite Lived Intangible Assets By Major Class [Line Items]

Finite-Lived Intangible Assets, Accumulated Amortization

$ 4.3

[1]

Goodwill and Identifiable Intangible Assets - Remaining Estimated Future Amortization Expense (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
2017	$ 87.7
2018	70.1
2019	56.3
2020	53.8
Thereafter	191.1
Intangible assets with definite life, Net	$ 459.0	$ 533.2

Goodwill and Identifiable Intangible Assets - Remaining Weighted Average Useful Life of Definite Lived Intangible Assets (Detail)	12 Months Ended
	Dec. 31, 2016
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	7 years 4 months 24 days
Customer relationships [Member]
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	8 years 2 months 12 days
Trademarks and tradenames [Member]
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	5 years 1 month 6 days
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	3 years 2 months 12 days
Customer Contracts [Member]
Finite Lived Intangible Assets [Line Items]
Finite lived identifiable intangible assets, remaining weighted average useful lives	7 years 2 months 12 days

Accounts Receivable Securitization Programs - Additional Information (Detail) € in Millions	12 Months Ended
	Dec. 31, 2016 USD ($) Bank	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2016 EUR (€)	Dec. 31, 2015 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	$ 213,100,000	$ 227,700,000	$ 287,700,000
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 $90.0 million
Amount available for accounts receivable securitization program	$ 73,800,000
Accounts receivable expiration date	2016-09
Interest expenses	$ 1,300,000		$ 2,000,000
U.S. Accounts Receivable Securitization Program [Member] \| U.S.program [Member]
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Amount utilized under accounts receivable securitization program	$ 0	67,000,000
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	$ 115,700,000			€ 110.0
Amount available for accounts receivable securitization program	$ 114,100,000			€ 108.5
Accounts receivable expiration date	2017-02
Accounts receivable extended expiration date	2017-09
European Accounts Receivable Securitization Program [Member] \| Europe [Member]
Qualitative And Quantitative Information Transferors Continuing Involvement [Line Items]
Amount utilized under accounts receivable securitization program	$ 0	$ 76,700,000			€ 70.1

Restructuring and Relocation Activities - Additional Information (Detail) $ in Millions		12 Months Ended
	Dec. 31, 2017 USD ($) Job	Dec. 31, 2016 USD ($)
Restructuring Cost And Reserve [Line Items]
Restructuring expected accrual to pay		$ 44.8
Restructuring expected accrual remaining to pay		$ 2.6
FUSION [Member]
Restructuring Cost And Reserve [Line Items]
Jobs relocation completion date		Dec. 31, 2017
Scenario, Forecast [Member] \| FUSION [Member]
Restructuring Cost And Reserve [Line Items]
Number of Jobs relocated from Elmwood park to Charlotte \| Job	1,300
Scenario, Forecast [Member] \| FUSION [Member] \| Building Cost Of Charlotte Campus
Restructuring Cost And Reserve [Line Items]
Total estimated net cash cost	$ 120.0

Restructuring and Relocation Activities - Schedule of Program Metrics (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($) Employee	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Restructuring Cost And Reserve [Line Items]
Approximate positions eliminated by the Program \| Employee	1,950
Costs of reduction in headcount as a result of reorganization	$ 226.0
Other expenses associated with the Program	28.0	$ 42.9	$ 35.8
Total expense	40.9	121.2	101.5
Capital expenditures	123.5	$ 52.0	$ 28.0
Total Cumulative Expense	331.0
Cumulative capital expenditures	214.0
Minimum [Member]
Restructuring Cost And Reserve [Line Items]
Costs of reduction in headcount as a result of reorganization	235.0
Other expenses associated with the Program	155.0
Total expense	390.0
Capital expenditures	250.0
Proceeds, foreign exchange and other cash items	(70.0)
Total estimated net cash cost	570.0
Maximum [Member]
Restructuring Cost And Reserve [Line Items]
Costs of reduction in headcount as a result of reorganization	245.0
Other expenses associated with the Program	160.0
Total expense	405.0
Capital expenditures	255.0
Proceeds, foreign exchange and other cash items	(75.0)
Total estimated net cash cost	585.0
Other Restructuring
Restructuring Cost And Reserve [Line Items]
Other expenses associated with the Program	$ 105.0

Restructuring and Relocation Activities - Restructuring Activities (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Restructuring And Related Activities [Abstract]

Other associated costs

$ 28.0

$ 42.9

$ 35.8

Restructuring charges

^[1],[2]

12.9

78.3

65.7

Accrued salaries, wages and related costs

40.9

121.2

101.5

Capital expenditures

$ 123.5

$ 52.0

$ 28.0

[1]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.
[2]	Restructuring and other charges by segment were as follows:

Restructuring and Relocation Activities - Components of Restructuring Accrual, Spending and Other Activity and Accrual Balance Remaining (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
Restructuring And Related Activities [Abstract]
Restructuring accrual at December 31, 2015	$ 76.3
Accrual and accrual adjustments	12.9
Cash payments during 2016	(39.3)
Effect of changes in foreign currency exchange rates	(2.5)
Restructuring accrual at December 31, 2016	$ 47.4

Other Current and Non-Current Liabilities - Components of Other Current and Other Non-Current Liabilities (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Other current liabilities:

$ 248.3

$ 288.4

Accrued operating expenses

254.4

240.6

Income taxes payable

57.6

49.7

Accrued customer volume rebates

164.2

165.6

Accrued interest

37.9

38.8

Accrued employee benefit liability

5.3

6.6

Accrued employee benefit liability

767.7

789.7

^[1],[2]

Other non-current liabilities:

363.3

378.1

Other postretirement liability

53.2

62.2

Other various liabilities

254.7

288.7

^[2]

$ 671.2

$ 729.0

^[1]

[1]

[2]

Other Current and Non-Current Liabilities - Components of Other Current and Other Non-Current Liabilities (Parenthetical) (Detail) - Restatement Adjustment [Member] $ in Millions	Dec. 31, 2015 USD ($)
Property Plant And Equipment [Line Items]
Increase to property and equipment, net	$ 15.0
Increase to other non-current liabilities	$ 15.0

Debt and Credit Facilities - Total Debt Outstanding (Detail)
€ in Millions, $ in Millions

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Jun. 30, 2015

USD ($)

Jun. 30, 2015

EUR (€)

Dec. 31, 2014

USD ($)

Current portion of long-term debt

^[1]

$ 92.6

$ 248.2

^[2]

328.1

46.6

^[1],[2]

Total current debt

420.7

294.8

Other

5.1

3.7

Total long-term debt, less current portion

^[2]

3,938.3

4,266.8

^[1]

Total debt

4,359.0

4,561.6

Term Loan A Due July 2017 [Member]

Credit facility amount outstanding

249.7

Term Loan A Due July 2019 [Member]

Credit facility amount outstanding

992.2

1,058.9

6.50% Senior Notes Due December 2020 [Member]

4.875% Senior Notes due December 2022 [Member]

423.1

422.7

5.25% Senior Notes Due April 2023 [Member]

419.6

418.9

$ 425.0

419.7

419.0

5.125% Senior Notes due December 2024 [Member]

416.7

432.9

€ 400

5.50% Senior Notes due September 2025 [Member]

420.2

419.7

$ 425.0

6.875% Senior Notes Due July 2033 [Member]

396.4

396.1

$ 400.0

$ 445.3

$ 445.2

[1]

[2]

Debt and Credit Facilities - Total Debt Outstanding (Parenthetical) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Jan. 01, 2016

Jun. 30, 2015

Dec. 31, 2014

Cash held on deposit as compensating balance

^[1]

$ 92.6

$ 248.2

^[2]

$ 52.9

$ 56.5

Short-term Debt, Weighted Average Interest Rate

$ 35.9

4.80%

3.40%

Long-term Debt, Weighted Average Interest Rate

4.70%

4.60%

Unamortized discounts/issuance costs

$ 36.7

$ 42.9

Restatement Adjustment [Member] | Accounting Standards Update 2015-03 and Accounting Standards Update 2015-15 [Member]

U.S. Accounts Receivable Securitization Program [Member]

35.9

$ 35.9

European Accounts Receivable Securitization Program [Member]

67.0

76.7

Line of Credit [Member]

Term Loan A Due July 2017 [Member]

$ 104.5

Debt maturity month and year, Term loan

2017-07

Term Loan A Due July 2019 [Member]

Debt maturity month and year, Term loan

2019-07

6.50% Senior Notes Due December 2020 [Member]

6.50%

4.875% Senior Notes due December 2022 [Member]

2020-12

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

[1]

[2]

Debt and Credit Facilities - Additional Information (Detail)
€ in Millions

3 Months Ended

12 Months Ended

Jul. 25, 2014

USD ($)

Jun. 30, 2015

USD ($)

Dec. 31, 2014

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

USD ($)

Sep. 30, 2016

USD ($)

Jun. 30, 2015

EUR (€)

Aug. 29, 2014

USD ($)

$ 100,000

$ 110,000,000

^[1],[2]

$ 102,500,000

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

Term period of credit facility

5,000,000

Lender fees

$ 2,000,000

5 years

Interest Rate and Currency Swap [Member]

Notional amount of outstanding interest rate swaps

$ 100,000,000

Derivative notional amount settled

$ 20,000,000

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

6.50% Senior Notes Due December 2020 [Member]

Gain on termination of interest rate swap

6.50%

$ 3,000,000

Term Loan A Facility [Member] | Line Of Credit Facility Second Amended [Member]

Aggregate principal amount

Jul. 25, 2019

$ 1,330,000,000

Decrease in interest margin

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]

Aggregate principal amount

$ 100,000,000

Delayed Draw Term Loan A Facility

Aggregate principal amount

$ 100,000,000

Notional amount of outstanding interest rate swaps

$ 100,000,000

Line of Credit Secured Debt

5.50% Senior Notes due September 2025 [Member]

10,000,000

Sep. 15, 2025

$ 400,000,000

$ 396,400,000

$ 396,100,000

5.50%

$ 8,000,000

Sep. 15, 2023

$ 416,700,000

$ 432,900,000

€ 400

4.50%

8.375% Senior Notes Due September 2021 [Member]

$ 8,000,000

Sep. 01, 2021

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

110,000,000

4.875% Senior Notes due December 2022 [Member]

$ 11,000,000

Dec. 01, 2022

$ 425,000,000

$ 419,600,000

$ 418,900,000

$ 425,000,000

4.875%

5.125% Senior Notes due December 2024 [Member]

$ 13,000,000

Dec. 01, 2024

$ 425,000,000

$ 420,200,000

$ 419,700,000

$ 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

Total available lines of credit

9,000,000

Early redemption

$ 750,000,000

[1]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[3]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.

Debt and Credit Facilities - Lines of Credit (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Debt Disclosure [Abstract]

Used lines of credit

^[1]

$ 92.6

$ 248.2

^[2]

Unused lines of credit

1,166.7

1,039.9

$ 1,259.3

$ 1,288.1

[1]

[2]

Debt and Credit Facilities - Lines of Credit (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Line Of Credit Facility [Line Items]
Cash held on deposit as compensating balance	$ 52.9	$ 56.5
Total available lines of credit	1,259.3	$ 1,288.1
Committed Line of Credit Facilities [Member]
Line Of Credit Facility [Line Items]
Total available lines of credit	$ 887.8

Debt and Credit Facilities - Scheduled Annual Maturities for Next Five Years and Thereafter (Detail) $ in Millions	Dec. 31, 2016 USD ($)
Debt Disclosure [Abstract]
2017	$ 328.1
2018	75.9
2019	927.1
2020	425.9
2021	0.1
Thereafter	2,546.1
Total	$ 4,303.2

Derivatives and Hedging Activities - Additional Information (Detail)

12 Months Ended

Dec. 31, 2016

USD ($)

Derivative

Dec. 31, 2015

USD ($)

Derivative

Dec. 31, 2014

USD ($)

Sep. 30, 2016

USD ($)

Jun. 30, 2015

EUR (€)

Mar. 31, 2015

USD ($)

Other comprehensive income unrealized gain (loss) arising during period net of tax

$ 19,500,000

$ 3,800,000

$ 2,600,000

Cumulative translation adjustment after tax

$ (701,900,000)

$ (564,000,000)

^[1],[2]

Delayed Draw Term Loan A Facility [Member]

4.50%

Notional amount of outstanding derivative

100,000,000

Foreign Currency Forward Contracts [Member]

Foreign Currency Forward Contracts [Member] | Net Investment Hedge [Member]

$ 4,700,000

$ (16,500,000)

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

$ 1,600,000

$ 5,900,000

3,800,000

Net unrealized derivative gain (losses) included in AOCI to be reclassified into earnings in next twelve months

$ 5,200,000

Foreign Currency Forward Contracts [Member] | Not Designated as Hedging Instruments [Member]

Maximum original maturity period of foreign currency forward contracts

12 months

Interest Rate Swaps [Member]

Number of derivative instruments outstanding | Derivative

Interest Rate and Currency Swap [Member]

Notional amount of outstanding derivative

$ 100,000,000

Derivative notional amount settled

$ 20,000,000

Amount received on derivative settlement

$ 4,900,000

EUR - Denominated debt [Member] | Net Investment Hedge [Member] | 4.50% Senior Notes due September 2023 [Member]

23,900,000

$ 44,000,000

Debt instrument face amount | €

€ 400,000,000

EUR - Denominated debt [Member] | Designated as Hedging Instruments [Member] | Net Investment Hedge [Member]

4.50%

Fair value of (liability) derivatives, after tax

29,200,000

18,100,000

Cross-Currency Swaps [Member]

Cross-Currency Swaps [Member] | Net Investment Hedge [Member]

(5,300,000)

$ (12,000,000)

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, after tax

(5,300,000)

(3,300,000)

Semi-annual interest settlement resulted in AOCI

13,900,000

Semi-annual interest settlement resulted in AOCI after tax

$ 8,600,000

[1]

[2]

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	$ 40.2	$ 72.2
Total Derivative Liabilities	(16.9)	(56.8)
Net Derivatives	23.3	15.4
Not Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	11.4	25.0
Total Derivative Liabilities	(11.5)	(43.5)
Net Derivatives	(0.1)	(18.5)
Foreign Currency Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	16.3	28.2
Total Derivative Liabilities	(11.6)	(44.8)
Foreign Currency Forward Contracts [Member] \| Not Designated as Hedging Instruments [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	11.4	25.0
Total Derivative Liabilities	(11.5)	(43.5)
Interest Rate and Currency Swap [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	23.9	44.0
Cross-Currency Swaps [Member]
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	(5.3)	(12.0)
Cash Flow Hedge [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	28.8	47.2
Total Derivative Liabilities	(0.1)	(1.3)
Net Derivatives	28.7	45.9
Cash Flow Hedge [Member] \| Foreign Currency Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	4.9	3.2
Total Derivative Liabilities	(0.1)	(1.3)
Cash Flow Hedge [Member] \| Interest Rate and Currency Swap [Member]
Derivatives Fair Value [Line Items]
Foreign currency forward contracts	23.9	44.0
Net Investment Hedge [Member]
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	(5.3)	(12.0)
Net Derivatives	(5.3)	(12.0)
Net Investment Hedge [Member] \| Cross-Currency Swaps [Member]
Derivatives Fair Value [Line Items]
Total Derivative Liabilities	$ (5.3)	$ (12.0)

Derivatives and Hedging Activities - Fair Value of Derivative Instruments (Parenthetical) (Detail)
€ in Millions, $ in Millions

Dec. 31, 2016

USD ($)

Dec. 31, 2016

EUR (€)

Dec. 31, 2015

USD ($)

Long-term debt, less current portion

^[1]

$ 3,938.3

$ 4,266.8

^[2]

40.2

72.2

Other Current Assets [Member]

(16.9)

(56.8)

Impact of master netting agreements

22.6

36.2

(0.2)

(24.1)

Net amounts recognized on the Consolidated Balance Sheet

22.4

12.1

Other Non-current Assets [Member]

Net amounts recognized on the Consolidated Balance Sheet

17.6

36.0

17.6

36.0

Other Current Liabilities [Member]

Impact of master netting agreements

(11.6)

(44.8)

0.2

24.1

Net amounts recognized on the Consolidated Balance Sheet

(11.4)

(20.7)

Other Non-current Liabilities [Member]

Net amounts recognized on the Consolidated Balance Sheet

(5.3)

(12.0)

(5.3)

(12.0)

Foreign Currency Forward Contracts [Member]

16.3

28.2

Foreign Currency Forward Contracts [Member] | Designated as Hedging Instruments [Member]

(11.6)

(44.8)

Long-term debt, less current portion

$ 416.7

€ 400.0

$ 432.9

[1]

[2]

Derivatives and Hedging Activities - Effect of Derivative Instruments on Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	$ (52.3)	$ 67.8	$ 17.7
Designated as Hedging Instruments [Member] \| Interest Rate and Currency Swap [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	20.8	31.6	16.5
Designated as Hedging Instruments [Member] \| Cash Flow Hedge [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of Gain (Loss) Recognized in Earnings on Derivatives	(25.2)	35.4	15.5
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	0.6	9.6	1.9
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	(25.9)	25.7	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	0.5	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	$ (27.6)	$ 32.0	$ 0.4

Derivatives and Hedging Activities - Effect of Derivative Instruments on Condensed Consolidated Statements of Operations (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on interest rate and currency swaps	$ (52.3)	$ 67.8	$ 17.7
Interest expenses	213.1	227.7	287.7
Interest Rate and Currency Swap [Member] \| Designated as Hedging Instruments [Member]
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on interest rate and currency swaps	20.8	31.6	16.5
Interest expenses	$ 5.1	$ 5.9	$ 3.0

Fair Value Measurements and Other Financial Instruments - Fair Value Hierarchy of Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	$ 71.3	$ 56.3
Compensating balance deposits	52.9	56.5
Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents	71.3	48.3
Compensating balance deposits	52.9	56.5
Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash equivalents		8.0
Foreign Currency Forward Contracts [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	4.7	(16.5)
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)	4.7	(16.5)
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)	23.9	44.0
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)	23.9	44.0
Cross-Currency Swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative financial instruments net asset (liability)	(5.3)	(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)	$ (5.3)	$ (12.0)

Fair Value Measurements and Other Financial Instruments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
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, 2016 USD ($)	Dec. 31, 2015 USD ($)	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	$ 78.9	$ 165.7
Other foreign loans, Fair Value	79.2	165.8
Other domestic loans, Carrying Amount	21.4	87.9
Other domestic loans, Fair Value	21.3	88.2
Total debt, Carrying Amount	4,359.0	4,561.6
Total debt, Fair Value	4,546.4	4,697.1
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	423.1	422.7
Senior Notes, Fair Value	477.3	473.7
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	419.6	418.9			$ 425.0
Senior Notes, Fair Value	437.6	426.5
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	419.7	419.0
Senior Notes, Fair Value	441.1	436.2
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	416.7	432.9		€ 400
Senior Notes, Fair Value	453.4	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	420.2	419.7			$ 425.0
Senior Notes, Fair Value	437.3	427.6
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	396.4	396.1	$ 400.0
Senior Notes, Fair Value	418.8	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	445.3	445.2
Senior Notes, Fair Value	462.7	462.7
Term Loan A Due July 2017 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Credit Facility, Carrying Amount	249.9	249.7
Credit Facility, Fair Value	249.9	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	1,067.8	1,103.8
Credit Facility, Fair Value	$ 1,067.8	$ 1,103.8

Fair Value Measurements and Other Financial Instruments - Carrying Amounts and Estimated Fair Values of Debt (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2016	Jun. 30, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unamortized debt issuance costs			$ 35.9
Restatement Adjustment [Member] \| Accounting Standards Update 2015-03 and Accounting Standards Update 2015-15 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Unamortized debt issuance costs		$ 35.9	$ 35.9
Reclassification of accounts payable to short term borrowings		$ 6.3
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
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%			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%			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 ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Provisions charged from operations for the profit sharing plan and retirement savings plans	$ 42.9	$ 55.3	$ 50.3
Contribution of common stock to profit sharing plan	830,600	787,500	965,200
Defined benefit pension plan corridor rate	10.00%
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) - U.S. and International [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Total benefit cost (income)	$ 11.4	$ 10.2	$ 16.2
Cost of Sales [Member]
Defined Benefit Plan Disclosure [Line Items]
Total benefit cost (income)	0.4	(0.5)	5.6
Selling, General and Administrative Expenses [Member]
Defined Benefit Plan Disclosure [Line Items]
Total benefit cost (income)	$ 11.0	$ 10.7	$ 10.6

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Funded Status for Pension Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Change in benefit obligation:
Projected benefit obligation at beginning of period	$ 1,319.5	$ 1,369.5
Service cost	10.6	11.3
Interest cost	33.3	37.6
Actuarial loss (gain)	98.8	11.7
Settlement/curtailment	(12.2)	(11.4)
Benefits paid	(46.6)	(48.2)
Employee contributions	2.8	3.5
Other	2.1	33.5
Foreign exchange impact	(71.0)	(88.0)
Projected benefit obligation at end of period	1,337.3	1,319.5
Change in plan assets:
Fair value of plan assets at beginning of period	970.0	1,044.0
Actual return on plan assets	102.2	14.4
Employer contributions	25.2	28.7
Employee contributions	2.8	3.5
Benefits paid	(46.6)	(48.2)
Settlement/curtailment	(5.8)	(8.2)
Other	3.5	(2.1)
Foreign exchange impact	(64.1)	(62.1)
Fair value of plan assets at end of period	987.2	970.0
Underfunded status at end of year	(350.1)	(349.5)
Accumulated benefit obligation at end of year	1,290.0	1,276.0
U.S. Pension Plans [Member]
Change in benefit obligation:
Projected benefit obligation at beginning of period	215.0	221.4
Service cost	0.6	0.7
Interest cost	7.8	8.6
Actuarial loss (gain)	8.9	(3.5)
Settlement/curtailment	(11.4)	(4.9)
Benefits paid	(12.7)	(13.7)
Employee contributions
Other	4.9	6.4
Foreign exchange impact
Projected benefit obligation at end of period	213.1	215.0
Change in plan assets:
Fair value of plan assets at beginning of period	156.7	181.6
Actual return on plan assets	9.1	(5.6)
Employer contributions	0.2	0.5
Employee contributions
Benefits paid	(12.7)	(13.7)
Settlement/curtailment	(5.1)	(5.9)
Other	2.1	(0.2)
Foreign exchange impact
Fair value of plan assets at end of period	150.3	156.7
Underfunded status at end of year	(62.8)	(58.3)
Accumulated benefit obligation at end of year	213.1	210.4
Non-U.S. Pension Plans [Member]
Change in benefit obligation:
Projected benefit obligation at beginning of period	1,104.5	1,148.1
Service cost	10.0	10.6
Interest cost	25.5	29.0
Actuarial loss (gain)	89.9	15.2
Settlement/curtailment	(0.8)	(6.5)
Benefits paid	(33.9)	(34.5)
Employee contributions	2.8	3.5
Other	(2.8)	27.1
Foreign exchange impact	(71.0)	(88.0)
Projected benefit obligation at end of period	1,124.2	1,104.5
Change in plan assets:
Fair value of plan assets at beginning of period	813.3	862.4
Actual return on plan assets	93.1	20.0
Employer contributions	25.0	28.2
Employee contributions	2.8	3.5
Benefits paid	(33.9)	(34.5)
Settlement/curtailment	(0.7)	(2.3)
Other	1.4	(1.9)
Foreign exchange impact	(64.1)	(62.1)
Fair value of plan assets at end of period	836.9	813.3
Underfunded status at end of year	(287.3)	(291.2)
Accumulated benefit obligation at end of year	$ 1,076.9	$ 1,065.6

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, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Other	$ 2.1	$ 33.5
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, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Other assets	$ 24.0	$ 33.7
Other current liabilities	(4.2)	(4.0)
Other liabilities	(369.9)	(378.1)
Net amount recognized	(350.1)	(348.4)
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Other liabilities	(62.8)	(58.3)
Net amount recognized	(62.8)	(58.3)
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Other assets	24.0	33.7
Other current liabilities	(4.2)	(4.0)
Other liabilities	(307.1)	(319.8)
Net amount recognized	$ (287.3)	$ (290.1)

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, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	$ (2.1)	$ 0.1
Unrecognized net actuarial loss	367.9	362.1
Total	365.8	362.2
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net actuarial loss	42.0	40.9
Total	42.0	40.9
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	(2.1)	0.1
Unrecognized net actuarial loss	325.9	321.2
Total	$ 323.8	$ 321.3

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, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial (gain) loss	$ 36.0	$ 44.8
Amortization of actuarial loss	(11.2)	(10.6)
Amortization of prior service cost		(0.1)
Current year valuation adjustments	(2.0)	(0.3)
Settlement/curtailment (gain) loss	(0.8)	(0.9)
Total recognized in other comprehensive loss	22.0	32.9
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial (gain) loss	3.6	14.6
Amortization of actuarial loss	(2.3)	(1.7)
Current year valuation adjustments	0.3
Settlement/curtailment (gain) loss	(0.6)	(1.6)
Total recognized in other comprehensive loss	1.0	11.3
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Current year actuarial (gain) loss	32.4	30.2
Amortization of actuarial loss	(8.9)	(8.9)
Amortization of prior service cost		(0.1)
Current year valuation adjustments	(2.3)	(0.3)
Settlement/curtailment (gain) loss	(0.2)	0.7
Total recognized in other comprehensive loss	$ 21.0	$ 21.6

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, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	$ (0.1)
Unrecognized net actuarial loss	11.3
Total	11.2
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized net actuarial loss	0.9
Total	0.9
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	(0.1)
Unrecognized net actuarial loss	10.4
Total	$ 10.3

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, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 973.6	$ 961.8
Fair value of plan assets	639.0	615.0
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	213.1	210.4
Fair value of plan assets	150.3	156.7
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	760.5	751.4
Fair value of plan assets	$ 488.7	$ 458.3

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Weighted Average Assumptions Used to Determine Benefit Obligations (Detail)	Dec. 31, 2016	Dec. 31, 2015
U.S. Pension Plans [Member]
Benefit obligations
Discount rate	4.00%	4.30%
Rate of compensation increase		3.00%
Social security increase rate		3.00%
Pension increase rate	3.00%
Non-U.S. Pension Plans [Member]
Benefit obligations
Discount rate	2.20%	2.60%
Rate of compensation increase	2.40%	2.50%
Social security increase rate	1.80%	1.60%
Pension increase rate	1.70%	1.60%

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, 2016	Dec. 31, 2015	Dec. 31, 2014
U.S. Pension Plans [Member]
Net periodic benefit cost
Discount rate	4.30%	3.90%	4.60%
Expected long-term rate of return	6.70%	6.50%	6.50%
Rate of compensation increase	3.00%	3.00%	3.00%
Social security increase rate	3.00%	3.00%	4.00%
Non-U.S. Pension Plans [Member]
Net periodic benefit cost
Discount rate	2.60%	2.70%	3.80%
Expected long-term rate of return	4.50%	4.90%	5.20%
Rate of compensation increase	2.50%	2.70%	2.90%
Social security increase rate	1.60%	1.60%	1.90%
Pension increase rate	1.60%	1.60%	1.80%

Profit Sharing, Retirement Savings Plans and Defined Benefit Pension Plans - Estimated Future Benefit Payments (Detail) $ in Millions	Dec. 31, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2017	$ 53.1
2018	47.6
2019	48.3
2020	49.5
2021	52.2
Thereafter	284.1
Total	534.8
U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2017	14.2
2018	14.2
2019	14.1
2020	13.2
2021	13.1
Thereafter	66.1
Total	134.9
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2017	38.9
2018	33.4
2019	34.2
2020	36.3
2021	39.1
Thereafter	218.0
Total	$ 399.9

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, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 987.2	$ 970.0	$ 1,044.0
Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.4	2.1
Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	846.8	851.0
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	136.0	116.9
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.0	6.3
Cash and Cash Equivalents [Member] \| Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.4	2.1
Cash and Cash Equivalents [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1.6	4.2
Fixed Income Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	444.0	440.8
Fixed Income Funds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	444.0	440.8
Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	362.8	380.0
Equity Funds [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	362.8	380.0
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	174.4	142.9
Other [Member] \| Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	38.4	26.0
Other [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 136.0	$ 116.9

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, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of period	$ 970.0	$ 1,044.0
Foreign exchange impact	(64.1)	(62.1)
Fair value of plan assets at end of period	987.2	970.0
Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of period	116.9
Fair value of plan assets at end of period	136.0	116.9
U.S. and International [Member] \| Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of period	116.9	123.2
Gains on assets still held at end of year	5.4	6.1
Purchases, sales, issuance, and settlements	1.6	(1.1)
Transfers in and/or out of Level 3	22.6	(4.9)
Foreign exchange impact	(10.5)	(6.4)
Fair value of plan assets at end of period	$ 136.0	$ 116.9

Other Post-Employment Benefits and Other Employee Benefit Plans - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
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	3.90%	4.00%
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	7.00%
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	5.50%
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, 2016	Dec. 31, 2015	Dec. 31, 2014
Change in benefit obligation:
Projected benefit obligation at beginning of period	$ 1,319.5	$ 1,369.5
Service cost	10.6	11.3
Interest cost	33.3	37.6
Actuarial loss (gain)	98.8	11.7
Benefits paid, net	(46.6)	(48.2)
Loss due to exchange rate movements	71.0	88.0
Projected benefit obligation at end of period	1,337.3	1,319.5	$ 1,369.5
Change in plan assets:
Fair value of plan assets at beginning of period	970.0	1,044.0
Employer contributions	25.2	28.7
Benefits paid, net	(46.6)	(48.2)
Fair value of plan assets at end of period	987.2	970.0	1,044.0
Net amount recognized:
Underfunded status	(350.1)	(349.5)
Accumulated benefit obligation at end of year	1,290.0	1,276.0
Net amount recognized in consolidated balance sheets consists of:
Current liability	(4.2)	(4.0)
Noncurrent liability	(369.9)	(378.1)
Net amount recognized	(350.1)	(348.4)
Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	367.9	362.1
Prior service credit	(2.1)	0.1
Total	365.8	362.2
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Change in benefit obligation:
Projected benefit obligation at beginning of period	65.8	79.8
Service cost	0.2	0.9	0.8
Interest cost	1.9	3.0	3.2
Actuarial loss (gain)	(6.3)	(4.7)
Benefits paid, net	(4.3)	(4.1)
Loss due to exchange rate movements		(0.6)
Plan amendments	(1.9)	(8.5)
Projected benefit obligation at end of period	55.5	65.8	$ 79.8
Change in plan assets:
Employer contributions	4.3	4.1
Benefits paid, net	(4.3)	(4.1)
Net amount recognized:
Underfunded status	(55.5)	(65.8)
Accumulated benefit obligation at end of year	55.5	65.8
Net amount recognized in consolidated balance sheets consists of:
Current liability	(3.0)	(5.1)
Noncurrent liability	(52.5)	(60.7)
Net amount recognized	(55.5)	(65.8)
Amounts recognized in accumulated other comprehensive income consist of:
Net actuarial loss	2.4	8.6
Prior service credit	(17.9)	(17.6)
Total	$ (15.5)	$ (9.0)

Other Post-Employment Benefits and Other Employee Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Components of net periodic benefit cost:
Service cost	$ 10.6	$ 11.3
Interest cost	33.3	37.6
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Components of net periodic benefit cost:
Service cost	0.2	0.9	$ 0.8
Interest cost	1.9	3.0	3.2
Amortization of net loss		0.4	0.1
Amortization of prior service credit	(1.6)	(0.8)	(0.7)
Net periodic benefit cost	$ 0.6	$ 3.5	$ 3.4

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, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	$ 0.1
Unrecognized net actuarial loss	(11.3)
Total	(11.2)
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized prior service costs	(1.7)
Unrecognized net actuarial loss	(0.1)
Total	$ (1.8)

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, 2016 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	2.6
Effect on total of service and interest cost components, 1% Decrease	0.1
Effect on post-retirement benefit obligation, 1% Decrease	$ 0.6

Other Post-Employment Benefits and Other Employee Benefit Plans - Estimated Future Benefit Payments (Detail) $ in Millions	Dec. 31, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2017	$ 53.1
2018	47.6
2019	48.3
2020	49.5
2021	52.2
Thereafter	284.1
Total	534.8
Other Post-Employment Benefits and Other Employee Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
2017	3.1
2018	3.4
2019	3.8
2020	4.2
2021	4.2
Thereafter	19.0
Total	$ 37.7

Income Taxes - Components of Earnings (Loss) Before Income Tax Provision (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Domestic	$ 168.7	$ 102.8	$ (62.2)
Foreign	397.2	323.1	329.4
Earnings before income tax provision	$ 565.9	$ 425.9	$ 267.2

Income Taxes - Components of Income Tax Provision (Benefit) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Current tax expense (benefit):

Federal

$ 31.3

$ 6.3

$ (216.0)

State and local

(1.3)

7.3

0.2

Foreign

107.3

99.5

78.7

Total current expense (benefit)

137.3

113.1

(137.1)

Deferred tax expense (benefit):

Federal

(42.4)

(35.7)

176.8

State and local

5.7

10.9

(27.2)

Foreign

(21.1)

2.2

(3.4)

Total deferred tax expense (benefit)

(57.8)

(22.6)

146.2

Total income tax provision

^[1]

$ 79.5

$ 90.5

$ 9.1

[1]

Income Taxes - Additional Information (Detail) - USD ($)

1 Months Ended

12 Months Ended

Dec. 31, 2015

Dec. 31, 2014

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Excess tax benefit increase to additional paid in capital

$ 0

$ 13,100,000

Foreign net operating losses

160,800,000

State net operating loss carry forwards

45,800,000

State tax credits

13,600,000

Increase (decrease) in valuation allowance

(39,300,000)

Foreign accruals and employee benefits

14,100,000

Expiration of foreign tax credit carry forwards

$ 16,100,000

State net operating loss carryforwards expire

over one to 20 years

Deferred tax liability, unremitted foreign earnings

$ 44,100,000

$ 19,800,000

44,100,000

Foreign tax credit, unremitted foreign earnings

86,700,000

Deferred tax liability, foreign subsidiaries accumulated earnings

1,100,000,000

Undistributed earnings of foreign subsidiaries

3,000,000,000

Excess tax benefit from settlement agreement, out-of-period adjustment

(46,200,000)

$ (37,700,000)

$ (2,900,000)

$ 46,200,000

^[1]

$ 37,700,000

Statutory federal tax rate

35.00%

Decrease in unrecognized tax benefit related to expiration of statute of limitations and settlement of audits

^[2]

$ 79,500,000

$ 90,500,000

$ 9,100,000

27,000,000

Net increase in unrecognized tax benefit during the year

50,200,000

Effective income tax rate, reserves, statute of limitations

57,600,000

Decrease in income tax provision if unrecognized tax benefits were recognized

156,700,000

Unrecognized interest and penalties

28,800,000

29,200,000

31,800,000

28,800,000

29,200,000

Unrecognized penalties

$ 9,800,000

$ 11,300,000

9,300,000

$ 9,800,000

11,300,000

Change in interest and penalties in tax accruals for uncertainties

1,600,000

Interest and penalties, reversed in connection with related tax accruals for uncertainties in prior years

$ 4,000,000

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

Maximum [Member]

Reduction in unrecognized tax benefit in the next 12 months

$ 15,000,000

Examination of income tax return

5 years

Income tax return in foreign jurisdictions

5 years

Prior Years [Member]

$ 1,400,000

Federal

Tax credit carryforwards amount

173,700,000

State And Local Jurisdiction

State net operating loss carry forwards

1,600,000,000

Increase (decrease) in valuation allowance

(12,000,000)

Tax credit carryforwards amount

20,900,000

Foreign Country

Foreign net operating loss carryforwards

736,700,000

Tax credit carryforwards amount

$ 11,600,000

[1]	In 2015, we recorded an out-of-period adjustment of $46.2 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.
[2]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.

Income Taxes - Components of Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Restructuring reserves	$ 6.3	$ 9.1
Accruals not yet deductible for tax purposes	33.5	45.6
Net operating loss carry forwards	248.8	250.1
Foreign, federal and state credits and investment tax allowances	144.0	162.2
Employee benefit items	169.3	166.5
Capitalized expenses	76.8	54.9
Other		37.5
Gross deferred tax assets	678.7	725.9
Valuation allowance	(218.1)	(257.4)
Total deferred tax assets	460.6	468.5
Depreciation and amortization	(33.3)	(30.3)
Unremitted foreign earnings	(19.8)	(44.1)
Intangibles	(243.9)	(264.5)
Other	(4.1)
Total deferred tax liabilities	(301.1)	(338.9)
Net deferred tax assets	$ 159.5	$ 129.6

Income Taxes - Federal Statutory Corporate Tax Rate Reconciles to Our Effective Income Tax Rate (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Computed expected tax, amount

$ 198.1

$ 149.1

$ 93.5

State income taxes, net of federal tax benefit, amount

10.3

5.2

(5.7)

Foreign earnings taxed at lower rates, amount

(31.2)

(21.8)

(35.2)

U.S. tax on foreign earnings, amount

26.9

12.1

10.5

Foreign tax credits, amount

(57.9)

(54.4)

Unremitted foreign earnings, amount

(24.3)

(86.0)

(5.2)

Stock compensation, amount

(16.6)

Overall foreign loss recapture, amount

67.9

Net change in valuation allowance, amount

(35.5)

(58.2)

(13.2)

Net change in unrecognized tax benefits, amount

(28.8)

56.8

(23.4)

Deferred tax asset adjustments

36.9

17.1

Reorganization tax benefit, amount

(2.2)

Other, amount

1.6

2.7

(10.0)

Total income tax provision

^[1]

$ 79.5

$ 90.5

$ 9.1

Computed expected tax, percentage

35.00%

State income taxes, net of federal tax benefit, percentage

1.80%

1.20%

(2.10%)

Foreign earnings taxed at lower rates, percentage

(5.50%)

(5.10%)

(13.20%)

U.S. tax on foreign earnings, percentage

4.80%

2.80%

3.90%

Foreign tax credits, percentage

(10.20%)

(12.80%)

Unremitted foreign earnings, percentage

(4.30%)

(20.20%)

(1.90%)

Stock compensation, percentage

(2.90%)

Overall foreign loss recapture, percentage

15.90%

Net change in valuation allowance, percentage

(6.40%)

(13.70%)

(4.90%)

Net change in unrecognized tax benefits, percentage

(5.10%)

13.30%

(8.80%)

Deferred tax asset adjustments

6.50%

4.00%

Reorganization tax benefit, percentage

(0.90%)

Other, percentage

0.30%

0.60%

(3.70%)

Effective income tax rate, percentage

14.00%

21.20%

3.40%

[1]

Income Taxes - Unrecognized Tax Benefits and Effect on Effective Income Tax Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Beginning balance of unrecognized tax benefits	$ 239.1	$ 188.9	$ 221.9
Additions for tax positions of current year	13.4	3.1	5.2
Additions for tax positions of prior years	23.3	111.9	7.7
Reductions for tax positions of prior years	(23.0)	(7.2)	(39.8)
Reductions for lapses of statutes of limitation	(40.7)	(57.6)	(6.2)
Ending balance of unrecognized tax benefits	$ 212.1	$ 239.1	$ 188.9

Commitments and Contingencies - Additional Information (Detail)
$ / shares in Units, € in Millions, $ in Millions

1 Months Ended

12 Months Ended

Jun. 13, 2014

USD ($)

$ / shares

Feb. 03, 2014

USD ($)

May 25, 2010

EUR (€)

Mar. 31, 2007

Feb. 28, 2002

USD ($)

Dec. 31, 2016

USD ($)

Dec. 31, 2015

USD ($)

Dec. 31, 2014

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

$ 1,478.1

$ 1,265.7

^[1],[2]

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

184.9

Asset retirement obligation liabilities

13.5

15.0

^[2]

1,060.3

945.7

^[1],[3]

Accretion expense

0.6

Net rental expense

59.0

62.0

$ 71.4

Buildings [Member]

Leasehold Improvements [Member]

4.1

4.2

Italian Ministry of Economic Development [Member] | Italy [Member]

$ 9.4

$ 10.8

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 January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[2]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	Amounts related to asset retirement obligations were recorded as of December 31, 2015. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million.

Commitments and Contingencies - Estimated Future Cash Outlays Related to Principal Contractual Obligations (Detail) $ in Millions	Dec. 31, 2016 USD ($)
Commitments And Contingencies Disclosure [Abstract]
2017	$ 84.7
2018	54.2
2019	20.0
2020	13.4
2021	12.6
Total	$ 184.9

Commitments and Contingencies - Estimated Future Minimum Annual Rental Commitments Under Non-Cancelable Real and Personal Property Leases (Detail) $ in Millions	Dec. 31, 2016 USD ($)
Commitments And Contingencies Disclosure [Abstract]
2017	$ 39.2
2018	30.5
2019	20.2
2020	12.6
2021	10.7
Thereafter	9.0
Total	$ 122.2

Stockholders' Equity - Additional Information (Detail) - USD ($)

1 Months Ended

12 Months Ended

Feb. 15, 2017

Sep. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Jan. 31, 2017

Aug. 05, 2015

Jul. 09, 2015

Dec. 31, 2013

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

$ 217,000,000

$ 802,000,000

$ 184,000,000

Common stock in treasury, shares

$ 1,478,100,000

$ 1,265,700,000

^[1],[2]

34,156,355

29,612,337

14,151,759

9,508,908

Dividends per share on common stock

$ 0.61

$ 0.52

Common stock, shares outstanding

193,482,383

196,013,299

210,531,894

Dividends declared payable date

Mar. 17, 2017

Dividends declared date of record

Mar. 03, 2017

Dividends declared date

Feb. 15, 2017

Subsequent Event [Member]

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

Dividends per share on common stock

$ 0.16

Estimated dividend payment

$ 31,000,000

Common stock, shares outstanding

193,000,000

Common Stock Repurchase Set One | Share Trading Plan [Member]

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

Number of common stock shares repurchased

4,680,313

Common stock repurchase price per share

$ 217,000,000

$ 46.36

Common Stock Repurchase Set Two | Share Trading Plan [Member]

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

Number of common stock shares repurchased

9,804,934

Common stock repurchase price per share

$ 478,100,000

$ 48.76

Accelerated Shares Repurchase Agreement [Member]

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

Common stock repurchase price per share

$ 51.76

$ 45.74

Common stock in treasury, shares

$ 298,700,000

$ 25,000,000

5,771,603

546,574

Maximum [Member]

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]

[2]

Stockholders' Equity - Summary of Cash Dividends Paid (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Stockholders Equity [Abstract]
Total Cash Dividends Paid	$ 121.6	$ 106.8	$ 110.9	$ 339.3
Total Cash Dividends Paid Per Common Share	$ 0.61	$ 0.52	$ 0.52

Stockholders' Equity - Summary of Changes in Common Stock and Common Stock in Treasury (Detail) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, beginning of year	225,625,636	224,683,653	205,707,580
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	481,834	419,844	572,089
Restricted stock shares, forfeited	(89,699)	(185,056)
Shares issued for vested restricted stock units	179,826	172,071	136,197
Shares issued for SLO Awards	20,587	71,893	101,062
Number of shares issued, end of year	227,638,738	225,625,636	224,683,653
Number of shares held, beginning of year	29,612,337	14,151,759	9,508,908
Number of shares held, end of year	34,156,355	29,612,337	14,151,759
Number of common stock outstanding, end of year	193,482,383	196,013,299	210,531,894
Common Stock in Treasury [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Repurchase of common stock	4,680,313	16,123,111	5,427,432
Profit sharing contribution paid in stock	(830,613)	(787,463)	(965,238)
Restricted stock shares forfeitures transferred to Omnibus Incentive Plan Reserve		(75,638)
Restricted stock shares, forfeited	(1,813)		106,220
Shares withheld for taxes	696,131	200,568	74,437
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	21,537	20,246	21,128
2012 President and COO Four-year Incentive Compensation [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	325,000
2013 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	1,074,017
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

Stockholders' Equity - Additional Information 1 (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2017	May 22, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested cash award ,Unrecognized compensation costs	$ 4.3
Weighted-average remaining contractual life of non vested cash awards	1 year
Liabilities related to cash awards, current	$ 2.5
Liabilities related to cash awards, non current	$ 4.9
Shares issued for SLO Awards	20,587	71,893	101,062
Target level for the determination of performance goals and measures	100.00%
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
Time - Vesting Inducement Award [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued for SLO Awards	75,000
Restricted stock for granted, Weighted- Average per Share Fair Value on Grant Date during the year	$ 39.95
Inducement award service expiration date	Dec. 31, 2017
Performance - Vesting Inducement Award [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued for SLO Awards	75,000
Restricted stock for granted, Weighted- Average per Share Fair Value on Grant Date during the year	$ 12.55
Target level for the determination of performance goals and measures	100.00%
Performance Period	2 years
Performance - Vesting Inducement Award [Member] \| Scenario, Forecast [Member] \| Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cumulative total stockholder return				25.00%
Performance - Vesting Inducement Award [Member] \| Minimum [Member] \| Scenario, Forecast [Member] \| Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Price				$ 43.70
Performance - Vesting Inducement Award [Member] \| Minimum [Member] \| Scenario, Forecast [Member] \| Tranche Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Price				$ 55.00

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, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards	(20,587)	(71,893)	(101,062)
Restricted stock shares forfeited	89,699	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	7,694,739	8,775,994	5,676,699
Restricted stock shares issued for new awards	(481,834)	(419,844)	(572,089)
Shares withheld for taxes	696,131		69,821
Number of shares available, end of year	6,082,001	7,694,739	8,775,994
Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Newly registered shares under Omnibus Incentive Plan			4,250,000
2012 President and COO Four-year Incentive Compensation [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards	(325,000)
2013 Three-year PSU Awards [member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares issued for new awards	(1,074,017)
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)
2002 Directors Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Director shares granted and issued	(18,022)	(20,246)	(21,128)
Director units granted and deferred	(17,447)	(925)	(20,444)
Restricted Stock [Member] \| 2005 Contingent Stock Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock shares forfeited	87,886	185,056	106,220
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	(428,595)	(300,085)	(431,987)
Restricted stock shares forfeited	29,774	38,100	9,800
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)
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	(81,614)	(134,078)	(48,528)
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, 2016 shares
PSU and SLO Awards [Member].
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Contingently issuable shares	3.3

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, 2016

Dec. 31, 2015

Dec. 31, 2014

Associated tax benefits recognized

^[1]

$ 62.9

$ 61.2

$ 54.1

19.7

18.6

15.7

2016 Three-year PSU Awards [Member]

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

2016 President and CEO Inducement Award [Member]

6.3

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

2014 Special PSU Awards [Member]

0.5

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

2014 Three-year PSU Awards [Member]

^[2]

8.8

15.7

11.8

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

2013 Three-year PSU Awards [member]

4.9

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

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

2015 Three-year PSU Awards [Member]

1.8

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

2013 WVH Incentive Compensation [Member]

3.5

4.7

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

2012 President and COO Four-year Incentive Compensation [Member]

^[3]

1.3

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

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

^[4]

0.2

0.3

0.4

SLO Awards [Member]

Other long-term share-based incentive compensation programs [Member]

2.5

3.7

4.6

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

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

^[5]

$ 36.2

$ 25.1

$ 19.2

[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]	The amount does not include expense related to the 2014 Special PSU awards that will be settled in cash of $1.6 million in the year ended December 31, 2016.
[3]	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.
[4]	The amount includes only the two initial performance-based equity awards. See below for further detail.
[5]	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 - Summarizes the Company's Pre-tax Share-based Incentive Compensation Expense and Income Tax Benefit (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
2014 Special PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense settled in cash	$ 1.6

Stockholders' Equity - Summary of Unvested Restricted Stock and Restricted Stock Unit (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued for SLO Awards	20,587	71,893	101,062
Vested	(179,826)	(172,071)	(136,197)
Restricted stock shares, forfeited	(89,699)	(185,056)
Restricted Stock Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at December 31, 2015	1,269,775
Shares issued for SLO Awards	481,834
Vested	(351,235)
Restricted stock shares, forfeited	(87,886)
Non-vested at December 31, 2016	1,312,488	1,269,775
Number of non-vested restricted stock, Weighted- Average per Share Fair value on Grant Date, beginning of year	$ 35.09
Restricted stock for granted, Weighted- Average per Share Fair Value on Grant Date during the year	44.16
Restricted stock vested/exercised, Weighted- Average per Share Fair Value on Grant Date during the year	28.38
Restricted stock forfeited or expired, Weighted- Average per Share Fair Value on Grant Date during the year	36.43
Number of non-vested restricted stock, Weighted- Average per Share Fair Value on Grant Date, Ending of year	$ 40.13	$ 35.09
Aggregate Intrinsic Value	$ 16.3
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at December 31, 2015	882,449
Shares issued for SLO Awards	428,595
Vested	(179,826)
Restricted stock shares, forfeited	(29,774)
Non-vested at December 31, 2016	1,101,444	882,449
Number of non-vested restricted stock, Weighted- Average per Share Fair value on Grant Date, beginning of year	$ 35.93
Restricted stock for granted, Weighted- Average per Share Fair Value on Grant Date during the year	43.37
Restricted stock vested/exercised, Weighted- Average per Share Fair Value on Grant Date during the year	28.97
Restricted stock forfeited or expired, Weighted- Average per Share Fair Value on Grant Date during the year	30.56
Number of non-vested restricted stock, Weighted- Average per Share Fair Value on Grant Date, Ending of year	$ 40.11	$ 35.93
Aggregate Intrinsic Value	$ 8.3

Stockholders' Equity - Summary of Vested Restricted Stock (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	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	$ 10.0	$ 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	$ 5.2	$ 3.0	$ 3.2

Stockholders' Equity - Summary of Unrecognized Compensation Cost (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 22.9
Weighted Average to be recognized	1 year 2 months 12 days
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 18.8
Weighted Average to be recognized	1 year 1 month 6 days

Stockholders' Equity - Additional Information 2 (Detail) - USD ($)

12 Months Ended

Oct. 06, 2016

Sep. 01, 2012

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Sep. 01, 2013

Sep. 30, 2012

Period in the beginning of each year to award Performance Share Unit

90 days

Target level for the determination of performance goals and measures

100.00%

Shares issued based on completion of performance conditions

481,834

419,844

572,089

Share based compensation expense recognized period

20,587

71,893

101,062

Liabilities Current

$ 2,118,900,000

$ 1,807,100,000

^[1],[2]

15 months

Stock appreciation rights expense

$ 59,900,000

61,200,000

^[3],[4]

$ 54,100,000

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

(100,000)

3,900,000

8,100,000

Payment due to exercise SARs

1,900,000

$ 20,700,000

$ 21,100,000

Liability for SARs

$ 2,000,000

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

350,000

Restricted shares issued

50,000

2012 President and COO Four-year Incentive Compensation [Member]

481,834

419,844

572,089

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

Performance period end date

Aug. 31, 2016

Fair value of shares granted

$ 1,600,000

Aggregate Intrinsic Value

$ 14,700,000

2012 President and COO Four-year Incentive Compensation [Member] | Jerome A. Peribere [Member]

325,000

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

Shares issued based on completion of performance conditions

325,000

Three-year PSU Awards [Member]

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

Performance Period

3 years

Fair value of shares granted

$ 14,300,000

$ 20,100,000

$ 5,900,000

Three-year PSU Awards [Member] | Minimum [Member]

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

Shares to be issued as percentage of target shares under 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 percentage of target shares under performance incentive plan

200.00%

2014 Three-year PSU Awards [Member]

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

Weighted average return on total shareholders

35.00%

Target level for the determination of performance goals and measures for adjusted EBITDA goal

65.00%

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

2015 Three-year PSU Awards [Member]

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

Weighted average return on total shareholders

35.00%

Target level for the determination of performance goals and measures for adjusted EBITDA goal

65.00%

$ 3,000,000

2016 Three-year PSU Awards [Member]

1 year

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

Weighted average return on total shareholders

50.00%

Target level for the determination of performance goals and measures for adjusted EBITDA goal

50.00%

$ 7,700,000

PSUs – Total Shareholder Return [Member]

2 years

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

124,755

65,796

129,150

$ 57.14

$ 59.91

$ 43.13

Expected price volatility

26.50%

29.90%

32.90%

Risk-free interest rate

0.98%

1.05%

0.63%

Restricted Stock [Member]

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

Fair value of shares granted

$ 10,000,000

$ 10,200,000

$ 7,600,000

$ 22,900,000

Restricted Stock [Member] | 2005 Contingent Stock Plan [Member]

1 year 2 months 12 days

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

Shares expected to be issued

25,000

Restricted Stock [Member] | 2015 Annual Incentive Plan [Member]

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

2014 Special PSU Awards [Member]

81,614

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%

PSUs remain unvested

376,047

$ 6,000,000

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

1 year

Liabilities Current

$ 6,600,000

TSR [Member]

Weighted average grant date fair value

213,827

$ 13.73

SLO Awards [Member]

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

Incremental cash bonus

25.00%

Share Based Compensation Stock Award Premium

25.00%

Restricted stock shares and restricted stock units included in SLO Award target

49,071

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

$ 2,500,000

$ 3,700,000

$ 4,600,000

[1]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[2]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[5]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.

Stockholders' Equity - Summary of Number of PSUs Granted Based on Adjusted EBITDA and Grant Date Fair Value (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted	20,587	71,893	101,062
PSUs – Adjusted EBITDA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted	165,391	158,964	239,851
Weighted average fair value on grant date	$ 43.10	$ 46.05	$ 32.72

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, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted	20,587	71,893	101,062
PSUs – Total Shareholder Return [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units granted	124,755	65,796	129,150
Weighted average fair value on grant date	$ 57.14	$ 59.91	$ 43.13
Expected Price volatility	26.50%	29.90%	32.90%
Risk-free interest rate	0.98%	1.05%	0.63%

Stockholders' Equity - Summary of Estimated Earned Payout (Detail)	12 Months Ended
	Dec. 31, 2016
2016 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%
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	168.00%
Estimated Payout Combined	124.00%
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	188.00%
Estimated Payout Combined	196.00%

Stockholders' Equity - Summary of Activity for Outstanding Three-year PSU Awards (Detail) - PSU Awards [Member]
$ in Millions

12 Months Ended

Dec. 31, 2016

USD ($)

Outstanding at December 31, 2015

1,081,445

Granted

290,146

^[1]

Converted

(537,009)

Forfeited or expired

(6,870)

Outstanding at December 31, 2016

827,712

Fully vested at December 31, 2016

374,267

Aggregate Intrinsic Value | $

$ 46.6

^[2]

Fully vested at December 31, 2016 | $

$ 17.0

^[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]	The aggregate intrinsic value is based on the actual number of PSUs earned and vested at December 31, 2015 which were issued in February 2016.

Stockholders' Equity - Summary of Activity for Outstanding Three-year PSU Awards (Parenthetical) (Detail) - PSU Awards [Member]	Dec. 31, 2016
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 Non-vested Three-year PSU awards (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued for SLO Awards	20,587	71,893	101,062
Vested	(179,826)	(172,071)	(136,197)
Restricted stock shares, forfeited	(89,699)	(185,056)
PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non-vested at December 31, 2015	550,005
Shares issued for SLO Awards	290,146
Vested	(374,267)
Restricted stock shares, forfeited	(6,870)
Non-vested at December 31, 2016	459,014	550,005
Non-vested at December 31, 2015	$ 41.99
Granted	49.14
Vested	38.13
Forfeited or expired	49.14
Non-vested at December 31, 2016	$ 49.55	$ 41.99

Stockholders' Equity - Schedule of Fair Value of Vested for Three-year PSU Awards (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of three-year PSU awards vested	$ 14.3	$ 20.1	$ 5.9

Stockholders' Equity - Summary of Unrecognized Compensation Cost for Three-year PSU Awards and Weighted Average Period (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($)
2016 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 7.7
Weighted Average to be recognized	2 years
2015 Three-year PSU Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Compensation Costs	$ 3.0
Weighted Average to be recognized	1 year

Stockholders' Equity - Summary of Assumptions Used to Calculate the Grant Date Fair Value (Detail) - Performance - Vesting Inducement Award [Member]	12 Months Ended
	Dec. 31, 2016 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock for granted, Weighted- Average per Share Fair Value on Grant Date during the year	$ 12.55
Expected price volatility	24.60%
Risk-free interest rate	0.92%

Accumulated Other Comprehensive Income (Loss) - Details of Comprehensive Income (Loss) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[3]

$ (820.0)

^[1],[2]

$ (613.8)

Other comprehensive income (loss) before reclassifications

(107.3)

(189.9)

Less: amounts reclassified from accumulated other comprehensive income (loss)

(21.8)

(16.3)

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

(129.1)

(206.2)

$ (336.4)

^[3]

(949.1)

(820.0)

^[1],[2]

(613.8)

Unrecognized Pension Items [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[3]

(266.0)

(250.1)

Other comprehensive income (loss) before reclassifications

(18.0)

(24.0)

Less: amounts reclassified from accumulated other comprehensive income (loss)

7.3

8.1

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

(10.7)

(15.9)

^[3]

(276.7)

(266.0)

(250.1)

Cumulative Translation Adjustment [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[3]

(564.0)

(369.9)

Other comprehensive income (loss) before reclassifications

(91.9)

(194.1)

Less: amounts reclassified from accumulated other comprehensive income (loss)

(46.0)

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

(137.9)

(194.1)

^[3]

(701.9)

(564.0)

(369.9)

Unrecognized Gains (Losses) on Derivative Instruments [Member] | Net Investment Hedge [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[3]

1.7

Other comprehensive income (loss) before reclassifications

19.3

1.7

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

19.3

1.7

^[3]

21.0

1.7

Unrecognized Gains (Losses) on Derivative Instruments [Member] | Cash Flow Hedge [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Accumulated Other Comprehensive Income (loss), Net of Taxes, beginning balance

^[3]

8.3

6.2

Other comprehensive income (loss) before reclassifications

(16.7)

26.5

Less: amounts reclassified from accumulated other comprehensive income (loss)

16.9

(24.4)

Accumulated Other Comprehensive Income (loss), Net of Taxes ending balance

0.2

2.1

^[3]

$ 8.5

$ 8.3

$ 6.2

[1]	As of January 1, 2016, we have adopted ASU 2015-03 and ASU 2015-15 with retrospective application. This resulted in a reclassification from other non-current assets to long-term debt, less current portion for debt issuance costs as of December 31, 2015. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[2]	Property and equipment, net, and other non-current liabilities as of December 31, 2015, have been revised to properly reflect asset retirement obligations. This resulted in an increase to property and equipment, net and other non-current liabilities of $15.0 million. Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings of $6.3 million as of December 31, 2015. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified $6.7 million from cash and cash equivalents to other receivables. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[3]	The ending balance in AOCI includes gains and losses on intra-entity foreign currency transactions. The intra-entity currency translation adjustment was $(8.3) million, $31.1 million and $58.9 million for the years ended December 31, 2016, 2015 and 2014.

Accumulated Other Comprehensive Income (Loss) - Details of Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($)
$ in Millions

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Accumulated Other Comprehensive Income Loss [Line Items]

Cumulative translation adjustment

$ (701.9)

$ (564.0)

^[1],[2]

Intra Entity Currency Translation [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Cumulative translation adjustment

$ (8.3)

$ 31.1

$ 58.9

[1]

[2]

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, 2016

^[2]

Sep. 30, 2016

^[2]

Jun. 30, 2016

^[2]

Mar. 31, 2016

^[2]

Dec. 31, 2015

^[3]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Accumulated Other Comprehensive Income Loss [Line Items]

Prior service costs

$ 0.1

Actuarial losses

$ 11.2

10.6

565.9

425.9

$ 267.2

Tax (expense) benefit

^[1]

(79.5)

(90.5)

(9.1)

Other income (expense), net

$ 171.1

$ 163.3

$ 49.6

$ 102.4

$ 123.5

$ 86.6

$ 28.1

$ 97.2

486.4

335.4

^[4],[5]

258.1

^[4],[5],[6]

11.2

19.9

8.8

Interest expenses

213.1

227.7

287.7

Reclassification out of Accumulated Other Comprehensive Income [Member]

21.8

16.3

Accumulated Other Comprehensive Income Loss [Line Items]

Unrecognized Pension Items [Member]

^[7]

(24.2)

16.3

3.7

Accumulated Other Comprehensive Income Loss [Line Items]

Unrecognized Pension Items [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]

(7.3)

(8.1)

Accumulated Other Comprehensive Income Loss [Line Items]

Prior service costs

^[7],[8]

1.6

0.7

0.5

Actuarial losses

^[7],[8]

(11.2)

(11.1)

(10.0)

^[7]

(9.6)

(10.4)

(9.5)

Tax (expense) benefit

^[7]

2.3

2.9

Cumulative Translation Adjustment [Member]

^[7]

(7.3)

(8.1)

(6.6)

Accumulated Other Comprehensive Income Loss [Line Items]

Cumulative Translation Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]

46.0

Accumulated Other Comprehensive Income Loss [Line Items]

Reclassifications from cumulative translation adjustment: Charges related to Venezuelan subsidiaries

^[7],[9]

46.0

Net Gains (Losses) on Cash Flow Hedging Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

^[7]

(25.2)

35.4

15.5

Tax (expense) benefit

^[7]

8.3

(11.0)

(5.2)

Foreign Currency Forward Contracts [Member] | Net Gains (Losses) on Cash Flow Hedging Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]

^[7]

(16.9)

24.4

10.3

Accumulated Other Comprehensive Income Loss [Line Items]

Other income (expense), net

^[7],[10]

0.6

9.6

1.9

Interest Rate Swaps [Member] | Net Gains (Losses) on Cash Flow Hedging Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Interest expenses

^[7],[10]

(25.9)

25.7

13.5

Treasury lock [Member] | Net Gains (Losses) on Cash Flow Hedging Derivatives [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]

Accumulated Other Comprehensive Income Loss [Line Items]

Interest expenses

^[7],[10]

$ 0.1

[1]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards “ of the Notes to Consolidated Financial Statements for further details.
[2]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional diluted weighted average number of common shares outstanding of 404,347, 456,352, 377,130 and 536,975 and recognition of excess tax benefits in the income tax provision of $10.6 million, zero, $1.8 million and $5.7 million for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. As a result, net earnings per common share increased by $0.05 per share, zero, $0.01 per share and $0.04 per share for three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.
[3]	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” of the Notes to Consolidated Financial Statements for further information.
[4]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[5]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[6]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[7]	Amounts in parenthesis indicate changes to earnings (loss) .
[8]	These accumulated other comprehensive components are included in the computation of net periodic benefit costs within cost of sales and selling, general, and administrative expenses on the Consolidated Statement of Operations.
[9]	Due to the ongoing challenging economic situation in Venezuela, the Company approved a program in the second quarter of 2016 to cease operations in the country. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” under the “Impact of Inflation and Currency Fluctuation” section of the Notes to the Consolidated Financial Statements for further details.
[10]	These accumulated other comprehensive components are included in our derivative and hedging activities. See Note 12, “Derivatives and Hedging Activities” of the Notes to Consolidated Financial Statements for additional details.

Other Income, net - Details of Other Income, net (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Net foreign exchange transaction gains (losses)

Interest income

$ 13.0

$ 13.5

$ 15.5

8.3

5.3

(7.8)

Bank fee expense

(5.8)

(5.0)

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

(1.4)

3.3

Other, net

^[1]

(2.9)

3.6

6.1

Other income, net

$ 11.2

$ 19.9

$ 8.8

[1]	In 2015, we sold our joint venture that supported our Food Care segment in Turkey. We recognized earnings before income tax provision of $9.1 million in 2015 related to this transaction.

Other Income, net - Details of Other Income, net (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)
Turkey [Member] \| Food Care [Member]
Other Commitments [Line Items]
Recognized earnings before income tax provision on sale of joint venture	$ 9.1

Other Income, net - Additional Information (Detail)
$ in Millions

12 Months Ended

Dec. 31, 2014

USD ($)

$ 5.7

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

[1]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[2]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[3]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.

Net Earnings per Common Share - Calculation of Basic and Diluted Net Earnings Per Common Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

^[1]

Sep. 30, 2016

^[1]

Jun. 30, 2016

^[1]

Mar. 31, 2016

^[1]

Dec. 31, 2015

^[2]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Numerator

Distributed and allocated undistributed net earnings to non- vested restricted stockholders

$ 171.1

$ 163.3

$ 49.6

$ 102.4

$ 123.5

$ 86.6

$ 28.1

$ 97.2

$ 486.4

$ 335.4

^[3],[4]

$ 258.1

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

(3.4)

(2.2)

(1.6)

Distributed and allocated undistributed net earnings to common stockholders

483.0

333.2

256.5

Distributed net earnings - dividends paid to common stockholders

(118.7)

(106.2)

(110.1)

Allocation of undistributed net earnings to common stockholders

$ 364.3

$ 227.0

$ 146.4

Denominator

Weighted average number of common shares outstanding - basic

194.3

203.9

210.0

Basic net earnings per common share:

Distributed net earnings to common stockholders

$ 0.61

$ 0.52

Allocated undistributed net earnings to common stockholders

1.87

1.11

0.70

Net earnings per common share - basic

$ 0.89

^[6]

$ 0.84

^[6]

$ 0.25

^[6]

$ 0.51

^[6]

$ 0.63

^[6]

$ 0.43

^[6]

$ 0.13

^[6]

$ 0.46

^[6]

$ 2.49

^[7],[8]

$ 1.63

^[7],[8]

$ 1.22

^[7],[8]

Numerator

Distributed and allocated undistributed net earnings to common stockholders

$ 483.0

$ 333.2

$ 256.5

Add: Allocated undistributed net earnings to unvested restricted stockholders

2.6

1.6

1.0

Less: Undistributed net earnings reallocated to non- vested restricted stockholders

(2.6)

(1.6)

(0.9)

Net earnings available to common stockholders - diluted

$ 483.0

$ 333.2

$ 256.6

Denominator

Weighted average number of common shares outstanding - basic

194.3

203.9

210.0

Effect of assumed issuance of Settlement agreement shares

^[9]

1.6

Effect of contingently issuable shares

^[9]

1.2

1.3

0.9

Effect of unvested restricted stock units

^[9]

0.7

0.8

Weighted average number of common shares outstanding - diluted under two-class

196.2

205.9

213.3

Effect of unvested restricted stock - participating security

^[9]

1.0

0.8

0.6

Weighted average number of common shares outstanding - diluted under treasury stock

^[7]

197.2

206.7

213.9

Diluted net earnings per common share

$ 0.87

^[6]

$ 0.83

^[6]

$ 0.25

^[6]

$ 0.51

^[6]

$ 0.62

^[6]

$ 0.42

^[6]

$ 0.13

^[6]

$ 0.46

^[6]

$ 2.46

^[7],[8]

$ 1.62

^[7],[8]

$ 1.20

^[7],[8]

[1]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional diluted weighted average number of common shares outstanding of 404,347, 456,352, 377,130 and 536,975 and recognition of excess tax benefits in the income tax provision of $10.6 million, zero, $1.8 million and $5.7 million for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. As a result, net earnings per common share increased by $0.05 per share, zero, $0.01 per share and $0.04 per share for three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.
[2]	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” of the Notes to Consolidated Financial Statements for further information.
[3]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[5]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[6]	The sum of the quarterly per share amounts may not agree to the respective annual amounts due to rounding.
[7]	The Company early adopted ASU 2016-09 on a prospective basis as required, related to the recognition of excess tax benefits to the Consolidated Statement of Operations which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016, and recognition of excess tax benefits of $18.1 million in the income tax provision for the year ended December 31, 2016. As a result, net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[8]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016 and recognition of excess taxbenefits of $18.1 million in income tax provision for the year ended December 31, 2016. As a result,net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.
[9]	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 Per Common Share (Parenthetical) (Detail) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Earnings Per Share Basic And Diluted [Line Items]

Common stock reserved

18,000,000

Additional diluted weighted average shares due to early adoption of accounting standard

^[1]

197,200,000

206,700,000

213,900,000

Income tax provision (benefit) due to early adoption of accounting standard

^[2]

$ 79.5

$ 90.5

$ 9.1

Earnings Per Share Basic And Diluted [Line Items]

Additional diluted weighted average shares due to early adoption of accounting standard

536,975

377,130

456,352

404,347

446,747

Income tax provision (benefit) due to early adoption of accounting standard

$ 5.7

$ 1.8

$ 0.0

$ 10.6

$ 18.1

Earnings per common share net increase due to early adoption of accounting standard

$ 0.10

[1]

[2]

Net Earnings per Common Share - Additional Information (Detail) - shares
shares in Millions

12 Months Ended

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Diluted

^[1]

197.2

206.7

213.9

Performance Stock Units [Member]

Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]

Diluted

1.0

[1]

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, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

^[1]

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

$ 1,744.1

$ 1,716.6

$ 1,727.0

$ 1,590.6

$ 1,753.9

$ 1,746.2

$ 1,785.0

$ 1,746.4

$ 6,778.3

$ 7,031.5

$ 7,750.5

Gross profit

640.9

640.0

661.4

589.3

636.6

663.8

649.6

2,531.6

2,586.6

2,687.6

Net earnings per common share - basic

$ 171.1

^[2]

$ 163.3

^[2]

$ 49.6

^[2]

$ 102.4

^[2]

$ 123.5

$ 86.6

$ 28.1

$ 97.2

$ 486.4

$ 335.4

^[3],[4]

$ 258.1

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

$ 0.89

^[2],[6]

$ 0.84

^[2],[6]

$ 0.25

^[2],[6]

$ 0.51

^[2],[6]

$ 0.63

^[6]

$ 0.43

^[6]

$ 0.13

^[6]

$ 0.46

^[6]

$ 2.49

^[7],[8]

$ 1.63

^[7],[8]

$ 1.22

^[7],[8]

Net earnings per common share - diluted

0.87

^[2],[6]

0.83

^[2],[6]

0.25

^[2],[6]

0.51

^[2],[6]

0.62

^[6]

0.42

^[6]

0.13

^[6]

0.46

^[6]

2.46

^[7],[8]

1.62

^[7],[8]

1.20

^[7],[8]

Diluted net earnings per common share

$ 0.87

^[2],[6]

$ 0.83

^[2],[6]

$ 0.25

^[2],[6]

$ 0.51

^[2],[6]

$ 0.62

^[6]

$ 0.42

^[6]

$ 0.13

^[6]

$ 0.46

^[6]

$ 2.46

^[7],[8]

$ 1.62

^[7],[8]

$ 1.20

^[7],[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” of the Notes to Consolidated Financial Statements for further information.
[2]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional diluted weighted average number of common shares outstanding of 404,347, 456,352, 377,130 and 536,975 and recognition of excess tax benefits in the income tax provision of $10.6 million, zero, $1.8 million and $5.7 million for the three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. As a result, net earnings per common share increased by $0.05 per share, zero, $0.01 per share and $0.04 per share for three months ended March 31, 2016, June 30, 2016, September 30, 2016 and December 31, 2016, respectively. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.
[3]	Certain amounts related to external payment terms were misclassified in the Consolidated Balance Sheet as of December 31, 2015 and 2014. The revision of this item resulted in a decrease in accounts payable and an increase in short-term borrowings in each year. Additionally, due to changes in the accounting treatment of a factoring agreement the Company reclassified amounts from cash and cash equivalents to other receivables for the years ended December 31, 2015 and 2014. See Note 2 “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements under the heading “Reclassifications and Revisions” for further discussion of the revisions.
[4]	During the first quarter of 2015, the Company received the tax refund of $235.2 million related to the Settlement agreement payment. During the first quarter of 2014, we used $929.7 million of cash to fund the cash portion of the Settlement agreement and related accrued interest. We recorded an excess tax benefit of $46.2 million as an out-of-period adjustment in December 2015 and $37.7 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” of the Notes to Consolidated Financial Statements for further discussion of the out-of-period adjustment.
[5]	Interest payments in 2014 include $416.6 million related to the Settlement agreement.
[6]	The sum of the quarterly per share amounts may not agree to the respective annual amounts due to rounding.
[7]	The Company early adopted ASU 2016-09 on a prospective basis as required, related to the recognition of excess tax benefits to the Consolidated Statement of Operations which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016, and recognition of excess tax benefits of $18.1 million in the income tax provision for the year ended December 31, 2016. As a result, net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Summary of Significant Accounting Policies and Recently Issued Accounting Standards” of the Notes to the Consolidated Financial Statements for further details.
[8]	The Company early adopted ASU 2016-09 on a prospective basis, related to the recognition of excess tax benefits to the income statement which were previously recorded in additional paid-in capital, effective January 1, 2016. This resulted in an additional 446,747 diluted weighted average number of common shares outstanding for the year ended December 31, 2016 and recognition of excess taxbenefits of $18.1 million in income tax provision for the year ended December 31, 2016. As a result,net earnings per common share increased by $0.10 per share for the year ended December 31, 2016. Refer to Note 2, “Recently Issued Accounting Standards” of the Notes to Consolidated Financial Statements for further details.

Summarized Quarterly Financial Information (Unaudited, in millions, except per share data) (Parenthetical) (Detail) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

12 Months Ended

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

New Accounting Pronouncements Or Change In Accounting Principle [Line Items]

Additional diluted weighted average shares due to early adoption of accounting standard

^[1]

197,200,000

206,700,000

213,900,000

Income tax provision (benefit) due to early adoption of accounting standard

^[2]

$ 79.5

$ 90.5

$ 9.1