Packaging Corp Of America (PKG) financial statements: income statement, balance sheet and cash flow
Packaging Corp Of America's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Packaging Corp Of America reported revenue of $9.0B (+7.2% year on year) and net income of $774.1M (-3.9% year on year).
Income statement
Packaging Corp Of America income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net sales
$9.0B
$8.4B
$7.8B
$8.5B
Cost of sales
($7.1B)
($6.6B)
($6.1B)
($6.4B)
Gross profit
$1.9B
$1.8B
$1.7B
$2.1B
Selling and administrative expenses
($634.2M)
($610.3M)
($580.9M)
($608.6M)
Other expense, net
$148.4M
($71.5M)
($42.9M)
($61.3M)
Income from operations
$1.1B
$1.1B
$1.1B
$1.4B
Non-operating pension (expense) income
($100.0K)
$4.5M
($7.7M)
$14.5M
Interest expense, net
($79.1M)
($41.4M)
($53.3M)
($70.4M)
Income before taxes
$1.0B
$1.1B
$1.0B
$1.4B
Provision for income taxes
($253.7M)
($259.3M)
($248.9M)
($335.0M)
Basic
$8.61
$8.97
$8.52
$11.08
Diluted
$8.58
$8.93
$8.48
$11.03
Dividends declared per common share
$5.00
$5.00
$5.00
$4.75
Net Income
$774.1M
$805.1M
$765.2M
$1.0B
Foreign currency translation adjustment
$0
$0
$100.0K
$0
Changes in unrealized gains on marketable debt securities, net of tax of $0.0 million, ($0.1) million, and ($0.6) millionfor 2025, 2024, and 2023, respectively
$100.0K
$300.0K
$1.8M
($1.7M)
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of ($1.3) million, ($1.4) million, and ($2.1) million for 2025, 2024, and 2023, respectively
$3.8M
$4.1M
$6.4M
$4.7M
Changes in unfunded employee benefit obligations, net of tax of $0.7 million, ($7.6) million, and ($7.8) million for 2025, 2024, and 2023, respectively
($2.1M)
$23.1M
$23.2M
($30.2M)
Other comprehensive income
$1.8M
$27.5M
$31.5M
($27.2M)
Comprehensive income
$775.9M
$832.6M
$796.7M
$1.0B
Packaging Corp Of America income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net sales
$2.5B
$2.4B
$2.3B
$2.2B
Cost of sales
($2.0B)
($1.9B)
($1.8B)
($1.7B)
Gross profit
$512.5M
$452.9M
$504.3M
$483.0M
Selling, general and administrative expenses
($179.3M)
($180.3M)
($154.3M)
($153.2M)
Other (expense) income, net
($42.0M)
($21.3M)
($25.5M)
$3.9M
Income from operations
$291.2M
$251.3M
$324.5M
$333.7M
Non-operating pension income
$1.1M
$1.1M
$0
$0
Interest expense, net
($33.3M)
($32.6M)
($19.3M)
($13.1M)
Income before taxes
$259.0M
$219.8M
$305.2M
$320.6M
Provision for income taxes
($66.9M)
($48.9M)
($78.3M)
($79.1M)
Basic
$2.16
$1.92
$2.52
$2.68
Diluted
$2.15
$1.91
$2.51
$2.67
Dividends declared per common share
$1.50
$1.25
$1.25
$1.25
Net income
$192.1M
$170.9M
$226.9M
$241.5M
Changes in unrealized (losses) gains on marketable debt securities, net of tax of $0.1 million, $0.0 million, $0.2 million, and $0.0 million, respectively
($100.0K)
($400.0K)
$0
$0
Amortization of pension and postretirement plans actuarial loss and prior service cost, net of tax of ($0.3) million, ($0.3) million, ($0.6) million, and ($0.6) million, respectively
$900.0K
$1.0M
$1.0M
$900.0K
Other comprehensive income
$800.0K
$600.0K
$1.0M
$900.0K
Comprehensive income
$192.9M
$171.5M
$227.9M
$242.4M
Balance sheet
Packaging Corp Of America balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$529.0M
$685.0M
$648.0M
$320.0M
Short-term marketable debt securities
$71.8M
$102.0M
$493.5M
$85.2M
Accounts receivable, net of allowance for credit losses and customer deductions of $17.0 million and $20.6 million as of December 31, 2025 and December 31, 2024, respectively
$1.3B
$1.1B
$1.0B
$1.0B
Inventories
$1.2B
$1.1B
$1.0B
$977.3M
Prepaid expenses and other current assets
$85.8M
$166.9M
$62.3M
$58.3M
Federal and state income taxes receivable
$28.1M
$10.2M
$4.3M
$35.7M
Total current assets
$3.2B
$3.2B
$3.3B
$2.5B
Property, plant and equipment, net
$5.0B
$4.0B
$3.9B
$3.9B
Goodwill
$1.4B
$922.4M
$922.4M
$922.4M
Other intangible assets, net
$602.3M
$191.9M
$229.6M
$267.9M
Operating lease right-of-use assets
$376.0M
$276.9M
$279.6M
$298.3M
Long-term marketable debt securities
$67.0M
$65.2M
$64.1M
$64.9M
Other long-term assets
$109.1M
$104.8M
$67.2M
$42.0M
Total assets
$10.7B
$8.8B
$8.7B
$8.0B
Operating lease obligations
$99.8M
$80.5M
$78.6M
$72.2M
Finance lease obligations
$2.3M
$2.1M
$2.0M
$1.9M
Accounts payable
$471.4M
$430.3M
$402.4M
$410.4M
Dividends payable
$116.1M
$116.3M
$115.9M
$115.5M
Accrued liabilities
$302.1M
$362.9M
$253.5M
$263.7M
Accrued interest
$23.4M
$9.5M
$13.7M
$11.8M
Total current liabilities
$1.0B
$1.0B
$1.3B
$875.5M
Long-term debt
$4.0B
$2.5B
$2.5B
$2.5B
Operating lease obligations
$290.6M
$208.0M
$212.1M
$234.6M
Finance lease obligations
$4.9M
$6.7M
$8.7M
$10.8M
Deferred income taxes
$660.1M
$561.9M
$558.0M
$543.0M
Compensation and benefits
$106.2M
$95.9M
$106.4M
$141.8M
Other long-term liabilities
$83.3M
$80.9M
$60.7M
$57.4M
Total long-term liabilities
$5.1B
$3.4B
$3.4B
$3.5B
Common stock, par value $0.01 per share, 300.0 million shares authorized, 89.2 million and 89.8 million shares issued as of December 31, 2025 and December 31, 2024, respectively
$900000.00
$900000.00
$900000.00
$900000.00
Additional paid in capital
$707.7M
$669.8M
$620.1M
$581.8M
Retained earnings
$3.9B
$3.8B
$3.4B
$3.2B
Accumulated other comprehensive loss
($41.6M)
($43.4M)
($70.9M)
($102.4M)
Total stockholders' equity
$4.6B
$4.4B
$4.0B
$3.7B
Total liabilities and stockholders' equity
$10.7B
$8.8B
$8.7B
$8.0B
Packaging Corp Of America balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$442.8M
$397.1M
$634.0M
$787.9M
Short-term marketable debt securities and other ($101.0 million and $71.8 million measured at fair value as of June 30, 2026 and December 31, 2025, respectively)
$151.0M
$146.6M
$94.7M
$92.4M
Accounts receivable, net of allowance for credit losses and customer deductions of $19.1 million and $17.0 million as of June 30, 2026 and December 31,2025, respectively
$1.4B
$1.3B
$1.4B
$1.2B
Inventories
$1.3B
$1.3B
$1.3B
$1.1B
Prepaid expenses and other current assets
$104.3M
$104.4M
$81.1M
$105.7M
Federal and state income taxes receivable
$30.3M
$15.2M
$58.2M
$10.8M
Total current assets
$3.4B
$3.3B
$3.5B
$3.3B
Property, plant, and equipment, net
$5.0B
$5.0B
$5.0B
$4.1B
Goodwill
$1.4B
$1.4B
$1.2B
$922.4M
Other intangible assets, net
$565.6M
$583.9M
$690.6M
$173.1M
Operating lease right-of-use assets
$414.4M
$377.7M
$369.0M
$314.4M
Long-term marketable debt securities
$73.0M
$71.8M
$77.7M
$75.6M
Other long-term assets
$112.1M
$109.8M
$102.2M
$103.2M
Total assets
$11.0B
$10.8B
$11.0B
$9.0B
Operating lease obligations
$104.4M
$102.0M
$96.0M
$86.7M
Finance lease obligations
$2.4M
$2.4M
$2.2M
$2.2M
Accounts payable
$616.9M
$557.0M
$554.2M
$490.7M
Dividends payable
$136.9M
$113.1M
$116.2M
$115.8M
Accrued liabilities
$271.8M
$238.3M
$298.4M
$238.2M
Accrued interest
$31.5M
$48.1M
$40.5M
$9.4M
Total current liabilities
$1.2B
$1.1B
$1.1B
$943.0M
Long-term debt
$4.0B
$4.0B
$4.0B
$2.5B
Operating lease obligations
$324.8M
$290.2M
$286.9M
$241.2M
Finance lease obligations
$3.8M
$4.2M
$5.4M
$5.5M
Deferred income taxes
$681.3M
$677.6M
$671.8M
$564.9M
Compensation and benefits
$115.1M
$107.9M
$101.9M
$98.1M
Other long-term liabilities
$95.8M
$81.2M
$84.6M
$81.2M
Total long-term liabilities
$5.2B
$5.1B
$5.1B
$3.5B
Common stock, par value $0.01 per share, 300.0 million shares authorized, 89.1 million and 89.2 million shares issued as of June 30, 2026 and December 31, 2025, respectively
$900000.00
$900000.00
$900000.00
$900000.00
Additional paid in capital
$738.5M
$721.5M
$707.7M
$699.1M
Retained earnings
$4.0B
$3.9B
$4.1B
$4.0B
Accumulated other comprehensive loss
($40.2M)
($41.0M)
($40.4M)
($41.4M)
Total stockholders' equity
$4.7B
$4.6B
$4.8B
$4.6B
Total liabilities and stockholders' equity
$11.0B
$10.8B
$11.0B
$9.0B
Cash flow statement
Packaging Corp Of America cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$774.1M
$805.1M
$765.2M
$1.0B
Depreciation, depletion, and amortization of intangibles
$652.8M
$525.6M
$517.7M
$456.8M
Amortization of deferred financing costs
$5.3M
$2.3M
$2.2M
$2.1M
Share-based compensation expense
$45.2M
$48.8M
$40.0M
$35.6M
Deferred income tax provision (benefit)
$97.3M
($4.2M)
$5.2M
$86.0M
Net loss on asset disposals
$29.4M
$19.5M
$9.1M
$15.2M
Pension and post-retirement benefits expense, net of contributions
$8.0M
($19.5M)
($30.8M)
($47.4M)
Other, net
$100.0K
$24.2M
$13.3M
$2.0M
Accounts receivable
($10.3M)
($110.7M)
($1.4M)
$39.3M
Inventories
$4.4M
($111.8M)
($35.8M)
($75.2M)
Prepaid expenses and other current assets
$82.9M
($104.7M)
($4.2M)
($11.0M)
Accounts payable
($42.5M)
$18.3M
$11.4M
($18.1M)
Accrued liabilities
($71.2M)
$104.2M
($8.2M)
$8.3M
Federal and state income tax payable / receivable
($18.0M)
($5.9M)
$31.4M
($28.4M)
Net cash provided by operating activities
$1.6B
$1.2B
$1.3B
$1.5B
Additions to property, plant, and equipment
($828.9M)
($669.7M)
($469.7M)
($824.2M)
Acquisition of business, net of cash acquired
($1.8B)
—
$0
$0
Additions to other long-term assets
($2.4M)
($1.9M)
($2.6M)
($6.2M)
Proceeds from asset disposals
$33.4M
$1.3M
$1.6M
$2.2M
Purchases of held-to-maturity debt securities
$0
$0
($400.0M)
—
Proceeds from maturities of held-to-maturity debt securities
$0
$400.0M
—
—
Purchases of available-for-sale debt securities
($113.5M)
($114.3M)
($107.2M)
($126.1M)
Proceeds from sales of available-for-sale debt securities
$41.1M
$8.6M
$5.5M
$31.1M
Proceeds from maturities of available-for-sale debt securities
$101.7M
$98.2M
$97.3M
$87.6M
Net cash used for investing activities
($2.6B)
($277.8M)
($875.1M)
($833.7M)
Repayments of debt and finance lease obligations
($2.2M)
($401.9M)
($1.9M)
($1.7M)
Proceeds from issuance of debt, net of discount and lender fees
$1.5B
—
—
—
Financing costs paid
($6.3M)
$0
($1.1M)
$0
Common stock dividends paid
($449.6M)
($448.8M)
($448.9M)
($420.3M)
Repurchases of common stock
($153.0M)
$0
($41.5M)
($522.6M)
Shares withheld to cover employee restricted stock taxes
-23.6M
-25.7M
-15.7M
-15.4M
Net cash provided by (used for) financing activities
$859.4M
($876.4M)
($112.0M)
($960.0M)
Net (decrease) increase in cash and cash equivalents
($156.0M)
$37.0M
$328.0M
($298.7M)
Cash and cash equivalents, beginning of year
$685.0M
$648.0M
$320.0M
$618.7M
Cash and cash equivalents, end of year
$529.0M
$685.0M
$648.0M
$320.0M
Packaging Corp Of America cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net income
$363.0M
$170.9M
$672.3M
$445.3M
Depreciation, depletion, and amortization of intangibles
$401.5M
$225.2M
$431.2M
$278.6M
Amortization of deferred financing costs
$1.6M
$800.0K
$4.5M
$1.0M
Share-based compensation expense
$32.3M
$15.3M
$36.6M
$28.1M
Deferred income tax provision
$21.1M
$17.4M
$109.4M
$2.8M
Net loss (gain) on asset disposals
$13.1M
$1.6M
($14.7M)
($19.7M)
Pension and post-retirement benefits expense, net of contributions
$700.0K
$300.0K
$6.1M
$4.2M
Other, net
$6.9M
$300.0K
$7.3M
$3.5M
Accounts receivable
($170.9M)
($79.1M)
($110.6M)
($51.1M)
Inventories
($18.9M)
($15.0M)
($28.1M)
($19.7M)
Prepaid expenses and other current assets
($18.5M)
($18.5M)
$87.4M
$61.4M
Accounts payable
$96.4M
$36.5M
$12.0M
$29.4M
Accrued liabilities
($20.9M)
($39.4M)
($54.5M)
($124.5M)
Federal and state income taxes payable/receivable
($2.1M)
$13.0M
($48.0M)
($600.0K)
Net cash provided by operating activities
$705.3M
$329.3M
$1.1B
$638.7M
Additions to property, plant, and equipment
($370.6M)
($164.7M)
($509.9M)
($317.8M)
Acquisition of business, net of cash acquired
($21.2M)
($14.8M)
($1.8B)
—
Additions to other long-term assets
($2.0M)
($1.9M)
($2.1M)
($1.9M)
Proceeds from asset disposals
$1.3M
$600.0K
$33.3M
$33.0M
Purchase of short-term investment in time deposit
($50.0M)
($50.0M)
—
—
Purchases of available-for-sale debt securities
($86.3M)
($57.4M)
($99.3M)
($72.0M)
Proceeds from sales of available-for-sale debt securities
$10.7M
$8.1M
$19.2M
$12.6M
Proceeds from maturities of available-for-sale debt securities
$39.8M
$19.2M
$75.7M
$59.1M
Other, net
$800.0K
—
—
—
Net cash used for investing activities
($477.5M)
($260.9M)
($2.3B)
($287.0M)
Repayments of debt and finance lease obligations
($1.0M)
($600.0K)
($1.6M)
($1.0M)
Common stock dividends paid
($223.2M)
($111.9M)
($337.1M)
($224.7M)
Repurchases of common stock
($58.8M)
($58.8M)
—
—
Shares withheld to cover employee restricted stock taxes
-29.8M
-29.0M
-23.4M
-23.1M
Other, net
($1.2M)
—
—
—
Net cash used for financing activities
($314.0M)
($200.3M)
$1.1B
($248.8M)
Net (decrease) increase in cash and cash equivalents