GPK — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• •In June 2026, the Company completed the sale of its Croatia business to a third party for total consideration of $6 million. A $13 million charge was recognized in connection with the sale within the International Paperboard Packaging reportable segment during the six months ended June 30, 2026.

• •In May 2025, the Company closed its Middletown, Ohio, recycled paperboard manufacturing facility (the "Middletown facility"). The Company completed the sale of the Middletown facility in the second quarter of 2026.

• Current Assets and Current Liabilities on the Condensed Consolidated Balance Sheets include $8 million and $2 million, respectively, primarily related to multiple paperboard manufacturing and packaging facilities that met the held for sale criteria as of June 30, 2026. Current Assets on the Condense…

• Nonoperating Pension and Postretirement Benefit Expense(1)(1)(1)(1)

• Income from Operations was also unfavorably impacted by an additional $5 million of charges related to cost and production optimization initiatives, primarily for severance following the review of support functions and other expenses. Income from Operations was favorably impacted by a reduction in a…

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• •In May 2025, the Company closed its Middletown, Ohio, recycled paperboard manufacturing facility.

• •During 2024, the Company decided to close multiple packaging facilities. Production from these facilities has been consolidated into other existing packaging facilities. During three months ended March 31, 2026, the Company recognized a gain of $4 million on the sale of an exited property.

• Current Assets and Current Liabilities on the Condensed Consolidated Balance Sheets include $19 million and $6 million, respectively, primarily related to multiple paperboard manufacturing and packaging facilities and other related assets that met the held for sale criteria as of March 31, 2026. Cur…

• Income from Operations was also unfavorably impacted by $40 million of charges related to the Company's decision to discontinue its project to build automated roll warehouses at its Kalamazoo, Michigan and Texarkana, Texas paperboard manufacturing facilities. The Company also incurred $18 million of…

• During the three months ended March 31, 2026, the Company recognized Income Tax Benefits of $2 million on Loss before Income Taxes of $45 million. The effective tax rate for the three months ended March 31, 2026 is different from the statutory rate primarily due to the discrete tax impact of the cha…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Under the supervision and with the participation of our management, including our Chief Executive Officer and Interim Chief Financial Officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures (as such term is defined

• in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our Chief Executive Officer and Interim Chief Financial Officer have concluded that our disclosure controls and procedures were not effective …

• During the second quarter, the Company has completed the design and implementation of controls in response to the material weakness, including activities related to approvals and policies and procedures for the communication and information sharing of capital expenditures with the Board of Directors…

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• Under the supervision and with the participation of our management, including our Chief Executive Officer and Interim Chief Financial Officer, we conducted an evaluation of the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the…

• During the quarter, the Company developed and continues to implement remediation initiatives. These actions include improved controls, policies, procedures and training related to communication and information sharing with the Board of Directors by Senior Management. The material weakness will not b…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• The Company is a party to a number of lawsuits arising in the ordinary conduct of its business as well as the Securities Class Action and Derivative Action referenced in Note 8. Environmental and Legal Matters in the Notes to Condensed Consolidated Financial Statements. Although the timing and outco…

Text removed vs the prior filing · source: 10-Q · 2026-05-05

• The Company is a party to a number of lawsuits arising in the ordinary conduct of its business. Although the timing and outcome of these lawsuits cannot be predicted with certainty, the Company does not believe that disposition of these lawsuits will have a material adverse effect on the Company's c…