SONOCO PRODUCTS COSON
SONOCO PRODUCTS CO Segments Disclosure
Segment reporting
The Company operates under two reportable segments, Consumer Packaging and Industrial Paper Packaging, with all remaining businesses reported as All Other.
The products produced and sold within the Consumer Packaging segment are generally used to package a variety of consumer products and consist primarily of round and shaped rigid paper, steel and plastic containers; and metal and peelable membrane ends, closures, and components.
The primary products produced and sold within the Industrial Paper Packaging segment include paperboard tubes, cones, and cores; paper-based protective packaging; and uncoated recycled paperboard. Effective January 1, 2024, the Company began conducting its recycling operations, part of the Industrial Paper Packaging segment, as a procurement function. As a result, no recycling net sales were recorded and the margin from the Company’s recycling operations reduced “Cost of sales” for the years ended December 31, 2025 and 2024 as these activities are no longer a part of ongoing major operations.
The primary products produced within the All Other group of businesses consist of a variety of packaging materials, including plastic, paper, foam, and various other specialty materials. Following the sale of ThermoSafe in November 2025, the Company’s industrial and specialty plastics business is the only remaining business in the All Other category. Effective January 1, 2026, this business will be reported within the Industrial Paper Packaging segment and the use of the All Other category will be discontinued.
The Company’s chief operating decision maker (“CODM”) is the chief executive officer. The CODM assesses segment performance and allocates resources to each segment by using each segment’s operating profit. The chief operating decision maker uses operating profit for each segment in the annual budgeting and forecasting process as well as reviewing segment operating profit quarterly when making decisions about allocating capital and operating resources to segments. Disaggregated assets by segment are not disclosed since segment assets are not regularly provided to the CODM.
Segment operating profit viewed by the Company to evaluate segment performance does not include the following: restructuring/asset impairment charges; amortization of acquisition intangibles; gains/losses from the sale of businesses or other assets; acquisition, integration and divestiture-related costs; changes in LIFO inventory reserves; derivative gains/losses; or certain other items, if any, the exclusion of which the Company’s management believes improves the comparability and analysis of the ongoing operating performance of the business. All other general corporate expenses have been allocated as operating costs to each of the Company’s reportable segments and the All Other group of businesses, except for costs related to discontinued operations.
Segment financial information
The following table sets forth financial information about each of the Company’s reportable segments:
| Year Ended December 31, 2025 | Consumer Packaging | Industrial Paper Packaging | Total Reportable Segments | |||||||||||||||||
| Sales from external customers | $ | 4,874,291 | $ | 2,299,233 | $ | 7,173,524 | ||||||||||||||
Intersegment sales(1) | 22,547 | 121,153 | 143,700 | |||||||||||||||||
| $ | 4,896,838 | $ | 2,420,386 | $ | 7,317,224 | |||||||||||||||
| Reconciliation of sales | ||||||||||||||||||||
Other sales(2) | 349,888 | |||||||||||||||||||
| Elimination of intersegment sales | (148,359) | |||||||||||||||||||
| Total consolidated sales | $ | 7,518,753 | ||||||||||||||||||
Less:(3) | ||||||||||||||||||||
Cost of sales(4) | $ | (3,950,750) | $ | (1,726,225) | ||||||||||||||||
Other segment items(5) | (319,168) | (381,707) | ||||||||||||||||||
| Segment operating profit | $ | 626,920 | $ | 312,454 | $ | 939,374 | ||||||||||||||
| Other segment disclosures: | ||||||||||||||||||||
| Equity in earnings of affiliates, net of tax | $ | 226 | $ | 9,297 | ||||||||||||||||
Depreciation and amortization(6) | $ | 209,618 | $ | 118,889 | ||||||||||||||||
| Year Ended December 31, 2024 | Consumer Packaging | Industrial Paper Packaging | Total Reportable Segments | |||||||||||||||||
| Sales from external customers | $ | 2,531,852 | $ | 2,349,488 | $ | 4,881,340 | ||||||||||||||
Intersegment sales(1) | 8,022 | 111,682 | 119,704 | |||||||||||||||||
| $ | 2,539,874 | $ | 2,461,170 | $ | 5,001,044 | |||||||||||||||
| Reconciliation of sales | ||||||||||||||||||||
Other sales(2) | 431,107 | |||||||||||||||||||
| Elimination of intersegment sales | (126,786) | |||||||||||||||||||
| Total consolidated sales | $ | 5,305,365 | ||||||||||||||||||
Less:(3) | ||||||||||||||||||||
Cost of sales(4) | $ | (2,041,078) | $ | (1,818,324) | ||||||||||||||||
Other segment items(5) | (203,964) | (371,192) | ||||||||||||||||||
| Segment operating profit | $ | 294,832 | $ | 271,654 | $ | 566,486 | ||||||||||||||
| Other segment disclosures: | ||||||||||||||||||||
| Equity in earnings of affiliates, net of tax | $ | 365 | $ | 9,223 | ||||||||||||||||
Depreciation and amortization(6) | $ | 109,355 | $ | 116,149 | ||||||||||||||||
| Year Ended December 31, 2023 | Consumer Packaging | Industrial Paper Packaging | Total Reportable Segments | |||||||||||||||||
| Sales from external customers | $ | 2,471,048 | $ | 2,374,113 | $ | 4,845,161 | ||||||||||||||
Intersegment sales(1) | 5,171 | 101,822 | 106,993 | |||||||||||||||||
| $ | 2,476,219 | $ | 2,475,935 | $ | 4,952,154 | |||||||||||||||
| Reconciliation of sales | ||||||||||||||||||||
Other sales(2) | 604,442 | |||||||||||||||||||
| Elimination of intersegment sales | (115,170) | |||||||||||||||||||
| Total consolidated sales | $ | 5,441,426 | ||||||||||||||||||
Less:(3) | ||||||||||||||||||||
Cost of sales(4) | $ | (1,999,514) | $ | (1,809,803) | ||||||||||||||||
Other segment items(5) | (190,943) | (348,215) | ||||||||||||||||||
| Segment operating profit | $ | 285,762 | $ | 317,917 | $ | 603,679 | ||||||||||||||
| Other segment disclosures: | ||||||||||||||||||||
| Equity in earnings of affiliates, net of tax | $ | 564 | $ | 9,783 | ||||||||||||||||
Depreciation and amortization(6) | $ | 95,340 | $ | 104,723 | ||||||||||||||||
(1) | Intersegment sales are recorded at a market-related transfer price. | ||||
(2) | Sales from businesses below the quantitative threshold are attributable to the group of businesses within All Other. | ||||
(3) | The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. | ||||
(4) | Cost of sales of reportable segments excludes certain costs, primarily changes in LIFO inventory reserves, net gains or losses from derivatives, and acquisition, integration and divestiture-related costs. | ||||
(5) | Other segment items consists of: | ||||
| Consumer Packaging: Labor and benefits, consulting and professional services, travel, communication, facilities and supplies. Industrial Paper Packaging: Labor and benefits, consulting and professional services, travel, communication, facilities and supplies. | |||||
(6) | Represents significant segment expenses that are regularly provided to the CODM and are included in cost of sales and other segment items within segment operating profit. | ||||
| Reconciliation of segment operating profit to income from continuing operations before income taxes: | 2025 | 2024 | 2023 | |||||||||||||||||
| Segment operating profit | $ | 939,374 | $ | 566,486 | $ | 603,679 | ||||||||||||||
Other operating profits(1) | 50,813 | 53,278 | 85,148 | |||||||||||||||||
| Unallocated amounts: | ||||||||||||||||||||
Restructuring/Asset impairment charges, net | (66,215) | (65,370) | (47,909) | |||||||||||||||||
| Amortization of acquisition intangibles | (182,431) | (78,595) | (67,323) | |||||||||||||||||
| Gain/(Loss) on divestiture of business | 371,717 | (23,452) | 78,929 | |||||||||||||||||
| Acquisition, integration and divestiture-related costs | (54,158) | (91,600) | (24,624) | |||||||||||||||||
| Changes in LIFO inventory reserves | (58) | 6,263 | 11,817 | |||||||||||||||||
| Derivative (losses)/gains | (1,730) | 7,225 | 1,912 | |||||||||||||||||
Other corporate costs, net(2) | (35,242) | (46,675) | (42,254) | |||||||||||||||||
Other operating (charges)/income, net(3) | (4,335) | (982) | (10,326) | |||||||||||||||||
Other (expense)/income, net(4) | (27,481) | (104,200) | 39,657 | |||||||||||||||||
| Non-operating pension costs | (12,215) | (13,842) | (14,312) | |||||||||||||||||
| Interest expense | (233,485) | (172,620) | (135,393) | |||||||||||||||||
| Interest income | 20,547 | 27,570 | 10,026 | |||||||||||||||||
| Income from continuing operations before income taxes | $ | 765,101 | $ | 63,486 | $ | 489,027 | ||||||||||||||
(1) | Operating profit from segments below the quantitative threshold are attributable to the group of businesses within All Other. | ||||
(2) | Other corporate costs represent recurring operating expenses previously allocated to TFP that will remain with Sonoco subsequent to the divestiture, net of income earned under a transition services agreement with Toppan. | ||||
(3) | Primarily consists of highly inflationary accounting in Turkey and other miscellaneous charges in 2025, 2024, and 2023. | ||||
(4) | In 2025, these expenses relate to charges from third-party financial institutions related to the Company’s centralized treasury program under which the Company sells certain trade accounts receivable in order to accelerate its cash collection cycle, primarily within the Consumer Packaging segment. In 2024, the expense primarily relates to a net loss on foreign currency remeasurement, partially offset by a gain from the fair value remeasurement of an equity investment. | ||||
| Reconciliation of other segment disclosures to consolidated totals: | 2025 | 2024 | 2023 | |||||||||||||||||
| Equity in earnings of affiliates, net of tax | ||||||||||||||||||||
| Consumer Packaging | $ | 226 | $ | 365 | $ | 564 | ||||||||||||||
| Industrial Paper Packaging | 9,297 | 9,223 | 9,783 | |||||||||||||||||
| Reportable Segment Total | 9,523 | 9,588 | 10,347 | |||||||||||||||||
| Adjustments | — | — | — | |||||||||||||||||
| Consolidated Total | $ | 9,523 | $ | 9,588 | $ | 10,347 | ||||||||||||||
| Depreciation and amortization | ||||||||||||||||||||
| Consumer Packaging | $ | 209,618 | $ | 109,355 | $ | 95,340 | ||||||||||||||
| Industrial Paper Packaging | 118,889 | 116,149 | 104,723 | |||||||||||||||||
| Reportable Segment Total | 328,507 | 225,504 | 200,063 | |||||||||||||||||
Other(1) | 191,160 | 90,557 | 81,966 | |||||||||||||||||
| Consolidated Total | $ | 519,667 | $ | 316,061 | $ | 282,029 | ||||||||||||||
(1) | Other represents depreciation and amortization expense for the All Other group of businesses and total amortization of acquisition intangibles for Sonoco, excluding discontinued operations. | ||||
Geographic regions
Sales to unaffiliated customers and long-lived assets by geographic region are as follows:
| 2025 | 2024 | 2023 | |||||||||||||||
| Sales to Unaffiliated Customers | |||||||||||||||||
| United States | $ | 3,614,921 | $ | 3,569,806 | $ | 3,700,872 | |||||||||||
| EMEA | 3,207,438 | 955,520 | 885,386 | ||||||||||||||
| Canada | 104,414 | 113,349 | 116,171 | ||||||||||||||
| APAC | 249,559 | 311,052 | 329,394 | ||||||||||||||
| All other | 342,421 | 355,638 | 409,603 | ||||||||||||||
| Total | $ | 7,518,753 | $ | 5,305,365 | $ | 5,441,426 | |||||||||||
| Long-lived Assets | |||||||||||||||||
| United States | $ | 2,462,090 | $ | 2,695,885 | $ | 2,779,178 | |||||||||||
| EMEA | 4,893,882 | 4,690,098 | 617,949 | ||||||||||||||
| Canada | 27,214 | 35,750 | 39,842 | ||||||||||||||
| APAC | 180,882 | 176,547 | 157,235 | ||||||||||||||
| All other | 478,462 | 300,623 | 149,530 | ||||||||||||||
| Total | $ | 8,042,530 | $ | 7,898,903 | $ | 3,743,734 | |||||||||||
Sales are attributed to countries/regions based upon the plant location from which products are shipped. Long-lived assets are comprised of property, plant and equipment, goodwill, other intangible assets, and investments in affiliates (see Notes 1, 7 and 9).
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Feb 29, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.