Sealed Air Corp/DE Files 2024 Q2 10-Q

TL;DR

Sealed Air Q2 10-Q is in. Check financials.

AI Summary

Sealed Air Corp/DE filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures relevant to investors are presented.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Sealed Air Corp/DE, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial details and any forward-looking statements within can reveal underlying risks.

Key Numbers

• 2024 Q2 — Reporting Period (Financial results for the second quarter of 2024 are detailed.)
• 2024-06-30 — End of Fiscal Period (The financial data reported is as of this date.)
• 2023-06-30 — Prior Year Comparison Period (Provides a basis for year-over-year performance comparison.)

Key Players & Entities

• SEALED AIR CORP/DE (company) — Filer
• 20240630 (date) — Period of Report
• 20240808 (date) — Filing Date
• CHARLOTTE (location) — Business Address City
• DE (location) — State of Incorporation

FAQ

Key Financial Figures

• $0.10 — ich Registered Common Stock, par value $0.10 per share SEE New York Stock Exchange

Filing Documents

• see-20240630.htm (10-Q) — 2591KB
• q22024exhibit101.htm (EX-10.1) — 1953KB
• q22024ex311.htm (EX-31.1) — 7KB
• q22024ex312.htm (EX-31.2) — 7KB
• q22024ex32.htm (EX-32) — 9KB
• 0001628280-24-036175.txt ( ) — 16595KB
• see-20240630.xsd (EX-101.SCH) — 90KB
• see-20240630_cal.xml (EX-101.CAL) — 168KB
• see-20240630_def.xml (EX-101.DEF) — 432KB
• see-20240630_lab.xml (EX-101.LAB) — 983KB
• see-20240630_pre.xml (EX-101.PRE) — 735KB
• see-20240630_htm.xml (XML) — 2810KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial statements

Financial statements Condensed Consolidated Balance Sheets — June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements Note 1 Organization and Basis of Presentation 9 Note 2 Recently Adopted and Issued Accounting Standards 10 Note 3 Revenue Recognition, Contracts with Customers 11 Note 4 Leases 13 Note 5 Acquisitions 15 Note 6 Segments 17 Note 7 Inventories, net 19 Note 8 Property and Equipment, net 19 Note 9 Goodwill and Identifiable Intangible Assets, net 20 Note 10 Accounts Receivable Securitization Programs 21 Note 11 Accounts Receivable Factoring Agreements 22 Note 12 Restructuring Activities 22 Note 13 Debt and Credit Facilities 24 Note 14 Derivatives and Hedging Activities 26 Note 15 Fair Value Measurements, Equity Investments and Other Financial Instruments 29 Note 16 Defined Benefit Pension Plans and Other Post-Employment Benefit Plans 31 Note 17 Income Taxes 32 Note 18 Commitments and Contingencies 32 Note 19 Stockholders' Equity 33 Note 20 Accumulated Other Comprehensive Loss 36 Note 21 Other Expense, net 37 Note 22 Net Earnings Per Common Share 37

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 38

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 56

Controls and Procedures

Item 4. Controls and Procedures 59

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 60

Risk Factors

Item 1A. Risk Factors 60

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 60

Other Information

Item 5. Other Information 60

Exhibits

Item 6. Exhibits 61 Signature 62 2 Cautionary Notice Regarding Forward-Looking Statements This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by such words as "anticipate," "believe," "plan," "assume," "could," "should," "estimate," "expect," "intend," "potential," "seek," "predict," "may," "will" or the negative of these terms and similar expressions. All statements contained in this report, other than statements of historical facts, such as those regarding our growth initiatives, business strategies, operating plans, business outlook, restructuring activities and market conditions, are forward-looking statements. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that may cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. The following are important factors that we believe could cause actual results to differ materially from those in our forward-looking statements: global economic and political conditions, including recessionary and inflationary pressures, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, failure to realize synergies and other financial benefits from acquisitions within the expected time frames, greater than expected costs or difficulties related to acquisition integrations, consumer preferences, the effects of animal and food-related health issues, the effects of epidemics or pandemics, negative impacts related to the ongoing conflict between Russia and Ukraine and related sanctions, export restrictions and other counteractions thereto, uncertainties relating to existing or potential increased hostilities in the Middle East, changes in energy costs, environmental matters, the success of

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View this 10-Q filing on SEC EDGAR