Company Quick10K Filing
Sealed Air
Price41.37 EPS2
Shares155 P/E18
MCap6,421 P/FCF26
Net Debt3,494 EBIT561
TEV9,915 TEV/EBIT18
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-08-06
10-Q 2020-03-31 Filed 2020-05-05
10-K 2019-12-31 Filed 2020-03-02
10-Q 2019-09-30 Filed 2019-11-08
10-Q 2019-06-30 Filed 2019-08-02
10-Q 2019-03-31 Filed 2019-05-01
10-K 2018-12-31 Filed 2019-02-19
10-Q 2018-09-30 Filed 2018-11-02
10-Q 2018-06-30 Filed 2018-08-06
10-Q 2018-03-31 Filed 2018-05-07
10-K 2017-12-31 Filed 2018-02-21
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-10
10-K 2016-12-31 Filed 2017-02-15
10-Q 2016-09-30 Filed 2016-10-31
10-Q 2016-06-30 Filed 2016-08-01
10-Q 2016-03-31 Filed 2016-05-02
10-K 2015-12-31 Filed 2016-02-22
10-Q 2015-09-30 Filed 2015-11-03
10-Q 2015-06-30 Filed 2015-08-04
10-Q 2015-03-31 Filed 2015-05-05
10-K 2014-12-31 Filed 2015-02-27
10-Q 2014-09-30 Filed 2014-11-05
10-Q 2014-06-30 Filed 2014-08-06
10-Q 2014-03-31 Filed 2014-05-07
10-K 2013-12-31 Filed 2014-02-28
10-Q 2013-09-30 Filed 2013-11-08
10-Q 2013-06-30 Filed 2013-08-07
10-Q 2013-03-31 Filed 2013-05-08
10-K 2012-12-31 Filed 2013-03-01
10-Q 2012-09-30 Filed 2012-11-09
10-Q 2012-06-30 Filed 2012-08-09
10-Q 2012-03-31 Filed 2012-05-10
10-K 2011-12-31 Filed 2012-02-29
10-Q 2011-09-30 Filed 2011-11-09
10-Q 2011-06-30 Filed 2011-08-05
10-Q 2011-03-31 Filed 2011-05-06
10-K 2010-12-31 Filed 2011-02-25
10-Q 2010-09-30 Filed 2010-11-08
10-Q 2010-06-30 Filed 2010-08-06
10-Q 2010-03-31 Filed 2010-05-07
10-K 2009-12-31 Filed 2010-03-01
8-K 2020-08-06 Earnings, Exhibits
8-K 2020-07-17 Officers
8-K 2020-05-21
8-K 2020-05-05
8-K 2020-04-01
8-K 2020-02-12
8-K 2020-02-11
8-K 2019-11-21
8-K 2019-11-12
8-K 2019-11-12
8-K 2019-11-06
8-K 2019-08-12
8-K 2019-08-01
8-K 2019-06-19
8-K 2019-05-16
8-K 2019-04-30
8-K 2019-03-23
8-K 2019-02-07
8-K 2018-12-13
8-K 2018-11-01
8-K 2018-10-17
8-K 2018-10-04
8-K 2018-08-02
8-K 2018-07-12
8-K 2018-06-07
8-K 2018-05-17
8-K 2018-05-03
8-K 2018-02-13
8-K 2018-02-08
8-K 2018-01-02

SEE 10Q Quarterly Report

Note 1 Organization and Basis of Presentation
Note 2 Recently Adopted and Issued Accounting Standards
Note 3 Revenue Recognition, Contracts with Customers
Note 4 Leases
Note 5 Acquisitions
Note 6 Segments
Note 7 Inventories, Net
Note 8 Property and Equipment, Net
Note 9 Goodwill and Identifiable Intangible Assets, Net
Note 10 Accounts Receivable Securitization Programs
Note 11 Accounts Receivable Factoring Programs
Note 12 Credit Losses
Note 13 Restructuring Activities
Note 14 Debt and Credit Facilities
Note 15 Derivatives and Hedging Activities
Note 16 Fair Value Measurements and Other Financial Instruments
Note 17 Defined Benefit Pension Plans and Other Post - Employment Benefit Plans
Note 18 Income Taxes
Note 19 Commitments and Contingencies
Note 20 Stockholders' Deficit
Note 21 Accumulated Other Comprehensive Loss
Note 22 Other Income, Net
Note 23 Net Earnings per Common Share
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31.1 q22020ex311.htm
EX-31.2 q22020ex312.htm
EX-32 q22020ex32.htm

Sealed Air Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
10.07.95.83.71.6-0.52012201420172020
Assets, Equity
2.01.51.10.60.2-0.32012201420172020
Rev, G Profit, Net Income
2.01.40.70.1-0.6-1.22012201420172020
Ops, Inv, Fin

see-20200630
false2020Q2SEALED AIR CORP/DE000101210012/31us-gaap:OtherAssetsNoncurrentus-gaap:OtherAssetsNoncurrentus-gaap:OtherAssetsNoncurrentus-gaap:OtherAssetsNoncurrentus-gaap:LongTermDebtCurrentus-gaap:LongTermDebtCurrentus-gaap:LongTermDebtNoncurrentus-gaap:LongTermDebtNoncurrentP3YP3YP3YP3YP3YP3Y00010121002020-01-012020-06-30xbrli:shares00010121002020-07-31iso4217:USD00010121002020-06-3000010121002019-12-31iso4217:USDxbrli:shares00010121002020-04-012020-06-3000010121002019-04-012019-06-3000010121002019-01-012019-06-300001012100us-gaap:CommonStockMember2020-03-310001012100us-gaap:AdditionalPaidInCapitalMember2020-03-310001012100us-gaap:RetainedEarningsMember2020-03-310001012100us-gaap:TreasuryStockMember2020-03-310001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-3100010121002020-03-310001012100us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001012100us-gaap:RetainedEarningsMember2020-04-012020-06-300001012100us-gaap:CommonStockMember2020-06-300001012100us-gaap:AdditionalPaidInCapitalMember2020-06-300001012100us-gaap:RetainedEarningsMember2020-06-300001012100us-gaap:TreasuryStockMember2020-06-300001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300001012100us-gaap:CommonStockMember2019-12-310001012100us-gaap:AdditionalPaidInCapitalMember2019-12-310001012100us-gaap:RetainedEarningsMember2019-12-310001012100us-gaap:TreasuryStockMember2019-12-310001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310001012100us-gaap:AdditionalPaidInCapitalMember2020-01-012020-06-300001012100us-gaap:TreasuryStockMember2020-01-012020-06-300001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-300001012100us-gaap:RetainedEarningsMember2020-01-012020-06-300001012100us-gaap:CommonStockMember2019-03-310001012100us-gaap:AdditionalPaidInCapitalMember2019-03-310001012100us-gaap:RetainedEarningsMember2019-03-310001012100us-gaap:TreasuryStockMember2019-03-310001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-3100010121002019-03-310001012100us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300001012100us-gaap:TreasuryStockMember2019-04-012019-06-300001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300001012100us-gaap:RetainedEarningsMember2019-04-012019-06-300001012100us-gaap:CommonStockMember2019-06-300001012100us-gaap:AdditionalPaidInCapitalMember2019-06-300001012100us-gaap:RetainedEarningsMember2019-06-300001012100us-gaap:TreasuryStockMember2019-06-300001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-3000010121002019-06-300001012100us-gaap:CommonStockMember2018-12-310001012100us-gaap:AdditionalPaidInCapitalMember2018-12-310001012100us-gaap:RetainedEarningsMember2018-12-310001012100us-gaap:TreasuryStockMember2018-12-310001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-3100010121002018-12-310001012100us-gaap:AdditionalPaidInCapitalMember2019-01-012019-06-300001012100us-gaap:TreasuryStockMember2019-01-012019-06-300001012100us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-06-300001012100us-gaap:RetainedEarningsMember2019-01-012019-06-30see:subsidiary0001012100see:FoodCareMembersrt:NorthAmericaMember2020-04-012020-06-300001012100srt:NorthAmericaMembersee:ProtectiveMember2020-04-012020-06-300001012100srt:NorthAmericaMember2020-04-012020-06-300001012100us-gaap:EMEAMembersee:FoodCareMember2020-04-012020-06-300001012100us-gaap:EMEAMembersee:ProtectiveMember2020-04-012020-06-300001012100us-gaap:EMEAMember2020-04-012020-06-300001012100srt:AsiaPacificMembersee:FoodCareMember2020-04-012020-06-300001012100srt:AsiaPacificMembersee:ProtectiveMember2020-04-012020-06-300001012100srt:AsiaPacificMember2020-04-012020-06-300001012100see:FoodCareMembersrt:LatinAmericaMember2020-04-012020-06-300001012100srt:LatinAmericaMembersee:ProtectiveMember2020-04-012020-06-300001012100srt:LatinAmericaMember2020-04-012020-06-300001012100see:FoodCareMember2020-04-012020-06-300001012100see:ProtectiveMember2020-04-012020-06-300001012100see:FoodCareMembersrt:NorthAmericaMember2020-01-012020-06-300001012100srt:NorthAmericaMembersee:ProtectiveMember2020-01-012020-06-300001012100srt:NorthAmericaMember2020-01-012020-06-300001012100us-gaap:EMEAMembersee:FoodCareMember2020-01-012020-06-300001012100us-gaap:EMEAMembersee:ProtectiveMember2020-01-012020-06-300001012100us-gaap:EMEAMember2020-01-012020-06-300001012100srt:AsiaPacificMembersee:FoodCareMember2020-01-012020-06-300001012100srt:AsiaPacificMembersee:ProtectiveMember2020-01-012020-06-300001012100srt:AsiaPacificMember2020-01-012020-06-300001012100see:FoodCareMembersrt:LatinAmericaMember2020-01-012020-06-300001012100srt:LatinAmericaMembersee:ProtectiveMember2020-01-012020-06-300001012100srt:LatinAmericaMember2020-01-012020-06-300001012100see:FoodCareMember2020-01-012020-06-300001012100see:ProtectiveMember2020-01-012020-06-300001012100see:FoodCareMembersrt:NorthAmericaMember2019-04-012019-06-300001012100srt:NorthAmericaMembersee:ProtectiveMember2019-04-012019-06-300001012100srt:NorthAmericaMember2019-04-012019-06-300001012100us-gaap:EMEAMembersee:FoodCareMember2019-04-012019-06-300001012100us-gaap:EMEAMembersee:ProtectiveMember2019-04-012019-06-300001012100us-gaap:EMEAMember2019-04-012019-06-300001012100srt:AsiaPacificMembersee:FoodCareMember2019-04-012019-06-300001012100srt:AsiaPacificMembersee:ProtectiveMember2019-04-012019-06-300001012100srt:AsiaPacificMember2019-04-012019-06-300001012100see:FoodCareMembersrt:LatinAmericaMember2019-04-012019-06-300001012100srt:LatinAmericaMembersee:ProtectiveMember2019-04-012019-06-300001012100srt:LatinAmericaMember2019-04-012019-06-300001012100see:FoodCareMember2019-04-012019-06-300001012100see:ProtectiveMember2019-04-012019-06-300001012100see:FoodCareMembersrt:NorthAmericaMember2019-01-012019-06-300001012100srt:NorthAmericaMembersee:ProtectiveMember2019-01-012019-06-300001012100srt:NorthAmericaMember2019-01-012019-06-300001012100us-gaap:EMEAMembersee:FoodCareMember2019-01-012019-06-300001012100us-gaap:EMEAMembersee:ProtectiveMember2019-01-012019-06-300001012100us-gaap:EMEAMember2019-01-012019-06-300001012100srt:AsiaPacificMembersee:FoodCareMember2019-01-012019-06-300001012100srt:AsiaPacificMembersee:ProtectiveMember2019-01-012019-06-300001012100srt:AsiaPacificMember2019-01-012019-06-300001012100see:FoodCareMembersrt:LatinAmericaMember2019-01-012019-06-300001012100srt:LatinAmericaMembersee:ProtectiveMember2019-01-012019-06-300001012100srt:LatinAmericaMember2019-01-012019-06-300001012100see:FoodCareMember2019-01-012019-06-300001012100see:ProtectiveMember2019-01-012019-06-30xbrli:pure0001012100see:ProductCareMembersee:AutomatedPackagingSystemsMember2019-08-010001012100see:ProductCareMembersee:AutomatedPackagingSystemsMember2019-08-012019-08-010001012100see:ProductCareMembersee:AutomatedPackagingSystemsMember2020-04-012020-06-300001012100see:ProductCareMembersee:AutomatedPackagingSystemsMember2019-10-012019-12-310001012100see:AutomatedPackagingSystemsMemberus-gaap:SubsequentEventMember2020-07-012020-07-310001012100see:ProductCareMembersee:AutomatedPackagingSystemsMember2020-01-012020-06-300001012100see:ProductCareMembersee:AutomatedPackagingSystemsMember2020-01-012020-03-310001012100see:ProductCareMembersee:AutomatedPackagingSystemsMember2019-08-022020-06-300001012100see:ProductCareMembersee:AutomatedPackagingSystemsMember2020-06-300001012100see:AutomatedPackagingSystemsMember2019-08-012019-08-010001012100us-gaap:CustomerRelationshipsMembersee:AutomatedPackagingSystemsMember2019-08-010001012100us-gaap:CustomerRelationshipsMembersee:AutomatedPackagingSystemsMember2019-08-012019-08-010001012100us-gaap:TrademarksAndTradeNamesMembersee:AutomatedPackagingSystemsMember2019-08-010001012100us-gaap:TrademarksAndTradeNamesMembersee:AutomatedPackagingSystemsMember2019-08-012019-08-010001012100us-gaap:SoftwareAndSoftwareDevelopmentCostsMembersee:AutomatedPackagingSystemsMember2019-08-010001012100us-gaap:SoftwareAndSoftwareDevelopmentCostsMembersee:AutomatedPackagingSystemsMember2019-08-012019-08-010001012100us-gaap:TechnologyBasedIntangibleAssetsMembersee:AutomatedPackagingSystemsMember2019-08-010001012100us-gaap:TechnologyBasedIntangibleAssetsMembersee:AutomatedPackagingSystemsMember2019-08-012019-08-010001012100us-gaap:OrderOrProductionBacklogMembersee:AutomatedPackagingSystemsMember2019-08-010001012100us-gaap:OrderOrProductionBacklogMembersee:AutomatedPackagingSystemsMember2019-08-012019-08-010001012100see:AutomatedPackagingSystemsMember2019-08-010001012100see:OtherAcquisitions2019Member2019-04-012019-06-300001012100see:OtherAcquisitions2019Member2019-06-300001012100see:OtherAcquisitions2019Member2019-07-012019-09-30see:segment0001012100us-gaap:OperatingSegmentsMembersee:FoodCareMember2020-04-012020-06-300001012100us-gaap:OperatingSegmentsMembersee:FoodCareMember2019-04-012019-06-300001012100us-gaap:OperatingSegmentsMembersee:FoodCareMember2020-01-012020-06-300001012100us-gaap:OperatingSegmentsMembersee:FoodCareMember2019-01-012019-06-300001012100see:FoodCareMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMember2020-04-012020-06-300001012100see:FoodCareMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMember2019-04-012019-06-300001012100see:FoodCareMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMember2020-01-012020-06-300001012100see:FoodCareMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMember2019-01-012019-06-300001012100us-gaap:OperatingSegmentsMembersee:ProtectiveMember2020-04-012020-06-300001012100us-gaap:OperatingSegmentsMembersee:ProtectiveMember2019-04-012019-06-300001012100us-gaap:OperatingSegmentsMembersee:ProtectiveMember2020-01-012020-06-300001012100us-gaap:OperatingSegmentsMembersee:ProtectiveMember2019-01-012019-06-300001012100see:ProtectiveMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMember2020-04-012020-06-300001012100see:ProtectiveMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMember2019-04-012019-06-300001012100see:ProtectiveMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMember2020-01-012020-06-300001012100see:ProtectiveMemberus-gaap:SalesRevenueNetMemberus-gaap:ProductConcentrationRiskMember2019-01-012019-06-300001012100us-gaap:CorporateNonSegmentMember2020-04-012020-06-300001012100us-gaap:CorporateNonSegmentMember2019-04-012019-06-300001012100us-gaap:CorporateNonSegmentMember2020-01-012020-06-300001012100us-gaap:CorporateNonSegmentMember2019-01-012019-06-300001012100see:DiverseyCareMember2020-04-012020-06-300001012100see:DiverseyCareMember2019-04-012019-06-300001012100see:DiverseyCareMember2020-01-012020-06-300001012100see:DiverseyCareMember2019-01-012019-06-300001012100see:ShareBasedCompensationExpenseMember2020-04-012020-06-300001012100see:ShareBasedCompensationExpenseMember2019-04-012019-06-300001012100see:ShareBasedCompensationExpenseMember2020-01-012020-06-300001012100see:ShareBasedCompensationExpenseMember2019-01-012019-06-300001012100see:DepreciationDepletionandAmortizationMember2020-04-012020-06-300001012100see:DepreciationDepletionandAmortizationMember2020-01-012020-06-300001012100see:DepreciationDepletionandAmortizationMember2019-04-012019-06-300001012100see:DepreciationDepletionandAmortizationMember2019-01-012019-06-300001012100us-gaap:OperatingSegmentsMembersee:FoodCareMember2020-06-300001012100us-gaap:OperatingSegmentsMembersee:FoodCareMember2019-12-310001012100us-gaap:OperatingSegmentsMembersee:ProtectiveMember2020-06-300001012100us-gaap:OperatingSegmentsMembersee:ProtectiveMember2019-12-310001012100us-gaap:OperatingSegmentsMember2020-06-300001012100us-gaap:OperatingSegmentsMember2019-12-310001012100us-gaap:MaterialReconcilingItemsMember2020-06-300001012100us-gaap:MaterialReconcilingItemsMember2019-12-310001012100see:ProductCareMemberus-gaap:OperatingSegmentsMember2019-12-310001012100see:FoodCareMember2019-12-310001012100see:ProductCareMember2019-12-310001012100see:ProductCareMemberus-gaap:OperatingSegmentsMember2020-01-012020-06-300001012100see:ProductCareMember2020-01-012020-06-300001012100see:FoodCareMember2020-06-300001012100see:ProductCareMember2020-06-300001012100us-gaap:CustomerRelationshipsMember2020-06-300001012100us-gaap:CustomerRelationshipsMember2019-12-310001012100us-gaap:TrademarksAndTradeNamesMember2020-06-300001012100us-gaap:TrademarksAndTradeNamesMember2019-12-310001012100see:CapitalizedSoftwareMember2020-06-300001012100see:CapitalizedSoftwareMember2019-12-310001012100see:TechnologyMember2020-06-300001012100see:TechnologyMember2019-12-310001012100us-gaap:CustomerContractsMember2020-06-300001012100us-gaap:CustomerContractsMember2019-12-310001012100us-gaap:TrademarksAndTradeNamesMember2020-06-300001012100us-gaap:TrademarksAndTradeNamesMember2019-12-31see:bank0001012100country:USsee:UnitedStatesAccountsReceivableSecuritizationProgramMember2020-01-012020-06-300001012100country:USsee:UnitedStatesAccountsReceivableSecuritizationProgramMembersrt:MaximumMember2020-06-300001012100country:USsee:UnitedStatesAccountsReceivableSecuritizationProgramMember2020-06-30iso4217:EUR0001012100srt:EuropeMembersee:EuropeanAccountsReceivableSecuritizationProgramMembersrt:MaximumMember2020-06-300001012100srt:EuropeMembersee:EuropeanAccountsReceivableSecuritizationProgramMember2020-06-300001012100srt:EuropeMembersee:EuropeanAccountsReceivableSecuritizationProgramMember2019-12-310001012100country:USsee:UnitedStatesAccountsReceivableSecuritizationProgramMember2019-12-310001012100see:AccountsReceivableSecuritizationProgramsMember2020-04-012020-06-300001012100see:AccountsReceivableSecuritizationProgramsMember2020-01-012020-06-300001012100see:AccountsReceivableSecuritizationProgramsMember2019-04-012019-06-300001012100see:AccountsReceivableSecuritizationProgramsMember2019-01-012019-06-300001012100see:SealedAirRestructuringProgramMember2020-04-012020-06-300001012100see:SealedAirRestructuringProgramMember2020-01-012020-06-300001012100see:SealedAirRestructuringProgramMembersrt:MinimumMember2020-06-300001012100see:SealedAirRestructuringProgramMembersrt:MaximumMember2020-06-300001012100see:SealedAirRestructuringProgramMembersrt:MinimumMember2020-01-012020-06-300001012100see:SealedAirRestructuringProgramMembersrt:MaximumMember2020-01-012020-06-300001012100see:SealedAirRestructuringProgramMember2020-06-300001012100us-gaap:SegmentContinuingOperationsMember2020-04-012020-06-300001012100us-gaap:SegmentContinuingOperationsMember2019-04-012019-06-300001012100us-gaap:SegmentContinuingOperationsMember2020-01-012020-06-300001012100us-gaap:SegmentContinuingOperationsMember2019-01-012019-06-3000010121002019-01-012019-12-310001012100see:ProtectiveMember2020-06-300001012100see:TermLoanADueAug2022Member2020-06-300001012100see:TermLoanADueAug2022Member2019-12-310001012100see:TermLoanAFacilityDueJuly2023Member2020-06-300001012100see:TermLoanAFacilityDueJuly2023Member2019-12-310001012100see:FourPointEightHundredAndSeventyFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyTwoMember2020-06-300001012100see:FourPointEightHundredAndSeventyFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyTwoMember2019-12-310001012100see:FivePointTwoFivePercentSeniorNotesDueAprilTwoThousandTwentyThreeMember2020-06-300001012100see:FivePointTwoFivePercentSeniorNotesDueAprilTwoThousandTwentyThreeMember2019-12-310001012100see:FourPointFivePercentSeniorNotesDueSeptemberTwoThousandAndTwentyThreeMember2020-06-300001012100see:FourPointFivePercentSeniorNotesDueSeptemberTwoThousandAndTwentyThreeMember2019-12-310001012100see:FivePointOneTwoFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyFourMember2020-06-300001012100see:FivePointOneTwoFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyFourMember2019-12-310001012100see:FivePointFivePercentSeniorNotesDueSeptemberTwoThousandTwentyFiveMember2020-06-300001012100see:FivePointFivePercentSeniorNotesDueSeptemberTwoThousandTwentyFiveMember2019-12-310001012100see:FourPointZeroZeroPercentSeniorNotesDueDecember2027Member2020-06-300001012100see:FourPointZeroZeroPercentSeniorNotesDueDecember2027Member2019-12-310001012100see:SixPointEightHundredSeventyFivePercentSeniorNotesDueJulyTwoThousandThirtyThreeMember2020-06-300001012100see:SixPointEightHundredSeventyFivePercentSeniorNotesDueJulyTwoThousandThirtyThreeMember2019-12-310001012100us-gaap:RevolvingCreditFacilityMember2020-06-300001012100us-gaap:LineOfCreditMember2020-06-300001012100us-gaap:RevolvingCreditFacilityMember2019-12-310001012100us-gaap:LineOfCreditMember2019-12-310001012100see:FourPointZeroZeroPercentSeniorNotesDueDecember2027Member2019-11-260001012100see:SeniorNotesSixPointFivePercentageDueTwoThousandAndTwentyMember2019-11-260001012100see:SeniorNotesSixPointFivePercentageDueTwoThousandAndTwentyMember2019-11-262019-11-2600010121002019-11-262019-11-260001012100see:ThirdAmendedAndRestatedSyndicatedCreditFacilityAgreementMemberus-gaap:RevolvingCreditFacilityMember2019-08-010001012100see:ThirdAmendedAndRestatedSyndicatedCreditFacilityAgreementMember2019-08-010001012100see:CommittedLineOfCreditFacilitiesMember2020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMember2020-01-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMember2020-04-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMember2019-04-012019-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMember2019-01-012019-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2020-01-012020-06-30see:derivative0001012100us-gaap:InterestRateSwapMember2020-06-300001012100us-gaap:InterestRateSwapMember2019-12-310001012100see:EuroDenominatedDebtMembersee:FourPointFivePercentSeniorNotesDueSeptemberTwoThousandAndTwentyThreeMemberus-gaap:NetInvestmentHedgingMember2015-09-300001012100see:EuroDenominatedDebtMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2020-06-300001012100us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:NetInvestmentHedgingMember2015-06-300001012100us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2017-12-310001012100us-gaap:CrossCurrencyInterestRateContractMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:NetInvestmentHedgingMember2017-09-012017-09-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember2020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember2019-12-310001012100us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2020-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2019-12-310001012100us-gaap:ForeignExchangeForwardMember2020-06-300001012100us-gaap:ForeignExchangeForwardMember2019-12-310001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2019-12-310001012100us-gaap:NondesignatedMember2020-06-300001012100us-gaap:NondesignatedMember2019-12-310001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMember2020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMember2019-12-310001012100us-gaap:OtherCurrentAssetsMember2020-06-300001012100us-gaap:OtherCurrentAssetsMember2019-12-310001012100us-gaap:OtherCurrentLiabilitiesMember2020-06-300001012100us-gaap:OtherCurrentLiabilitiesMember2019-12-310001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember2020-04-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember2019-04-012019-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember2020-01-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeForwardMemberus-gaap:CashFlowHedgingMember2019-01-012019-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:TreasuryLockMemberus-gaap:CashFlowHedgingMember2020-04-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:TreasuryLockMemberus-gaap:CashFlowHedgingMember2019-04-012019-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:TreasuryLockMemberus-gaap:CashFlowHedgingMember2020-01-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:TreasuryLockMemberus-gaap:CashFlowHedgingMember2019-01-012019-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2020-04-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2019-04-012019-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2020-01-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2019-01-012019-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMember2020-04-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMember2019-04-012019-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMember2020-01-012020-06-300001012100us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueHedgingMemberus-gaap:InterestRateSwapMember2019-01-012019-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2020-04-012020-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2019-04-012019-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2019-01-012019-06-300001012100us-gaap:FairValueInputsLevel1Member2020-06-300001012100us-gaap:FairValueInputsLevel2Member2020-06-300001012100us-gaap:FairValueInputsLevel3Member2020-06-300001012100us-gaap:BankTimeDepositsMember2020-06-300001012100us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel1Member2020-06-300001012100us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel2Member2020-06-300001012100us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel3Member2020-06-300001012100see:ForeignCurrencyForwardContractsAndOptionsMember2020-06-300001012100us-gaap:FairValueInputsLevel1Membersee:ForeignCurrencyForwardContractsAndOptionsMember2020-06-300001012100us-gaap:FairValueInputsLevel2Membersee:ForeignCurrencyForwardContractsAndOptionsMember2020-06-300001012100see:ForeignCurrencyForwardContractsAndOptionsMemberus-gaap:FairValueInputsLevel3Member2020-06-300001012100us-gaap:FairValueInputsLevel1Member2019-12-310001012100us-gaap:FairValueInputsLevel2Member2019-12-310001012100us-gaap:FairValueInputsLevel3Member2019-12-310001012100us-gaap:BankTimeDepositsMember2019-12-310001012100us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel1Member2019-12-310001012100us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel2Member2019-12-310001012100us-gaap:BankTimeDepositsMemberus-gaap:FairValueInputsLevel3Member2019-12-310001012100us-gaap:FairValueInputsLevel1Memberus-gaap:ForeignExchangeForwardMember2019-12-310001012100us-gaap:FairValueInputsLevel2Memberus-gaap:ForeignExchangeForwardMember2019-12-310001012100us-gaap:ForeignExchangeForwardMemberus-gaap:FairValueInputsLevel3Member2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:TermLoanADueAug2022Member2020-06-300001012100see:TermLoanADueAug2022Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:TermLoanADueAug2022Member2019-12-310001012100see:TermLoanADueAug2022Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:TermLoanAFacilityDueJuly2023Member2020-06-300001012100see:TermLoanAFacilityDueJuly2023Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:TermLoanAFacilityDueJuly2023Member2019-12-310001012100see:TermLoanAFacilityDueJuly2023Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FourPointEightHundredAndSeventyFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyTwoMember2020-06-300001012100see:FourPointEightHundredAndSeventyFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyTwoMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FourPointEightHundredAndSeventyFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyTwoMember2019-12-310001012100see:FourPointEightHundredAndSeventyFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyTwoMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FivePointTwoFivePercentSeniorNotesDueAprilTwoThousandTwentyThreeMember2020-06-300001012100see:FivePointTwoFivePercentSeniorNotesDueAprilTwoThousandTwentyThreeMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FivePointTwoFivePercentSeniorNotesDueAprilTwoThousandTwentyThreeMember2019-12-310001012100see:FivePointTwoFivePercentSeniorNotesDueAprilTwoThousandTwentyThreeMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FourPointFivePercentSeniorNotesDueSeptemberTwoThousandAndTwentyThreeMember2020-06-300001012100see:FourPointFivePercentSeniorNotesDueSeptemberTwoThousandAndTwentyThreeMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FourPointFivePercentSeniorNotesDueSeptemberTwoThousandAndTwentyThreeMember2019-12-310001012100see:FourPointFivePercentSeniorNotesDueSeptemberTwoThousandAndTwentyThreeMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FivePointOneTwoFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyFourMember2020-06-300001012100see:FivePointOneTwoFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyFourMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FivePointOneTwoFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyFourMember2019-12-310001012100see:FivePointOneTwoFivePercentageSeniorNotesDueDecemberTwoThousandAndTwentyFourMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FivePointFivePercentSeniorNotesDueSeptemberTwoThousandTwentyFiveMember2020-06-300001012100see:FivePointFivePercentSeniorNotesDueSeptemberTwoThousandTwentyFiveMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FivePointFivePercentSeniorNotesDueSeptemberTwoThousandTwentyFiveMember2019-12-310001012100see:FivePointFivePercentSeniorNotesDueSeptemberTwoThousandTwentyFiveMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FourPointZeroZeroPercentSeniorNotesDueDecember2027Member2020-06-300001012100see:FourPointZeroZeroPercentSeniorNotesDueDecember2027Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:FourPointZeroZeroPercentSeniorNotesDueDecember2027Member2019-12-310001012100see:FourPointZeroZeroPercentSeniorNotesDueDecember2027Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:SixPointEightHundredSeventyFivePercentSeniorNotesDueJulyTwoThousandThirtyThreeMember2020-06-300001012100see:SixPointEightHundredSeventyFivePercentSeniorNotesDueJulyTwoThousandThirtyThreeMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMembersee:SixPointEightHundredSeventyFivePercentSeniorNotesDueJulyTwoThousandThirtyThreeMember2019-12-310001012100see:SixPointEightHundredSeventyFivePercentSeniorNotesDueJulyTwoThousandThirtyThreeMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-300001012100us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-300001012100us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-310001012100us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-310001012100country:US2020-04-012020-06-300001012100us-gaap:ForeignPlanMember2020-04-012020-06-300001012100country:US2019-04-012019-06-300001012100us-gaap:ForeignPlanMember2019-04-012019-06-300001012100country:US2020-01-012020-06-300001012100us-gaap:ForeignPlanMember2020-01-012020-06-300001012100country:US2019-01-012019-06-300001012100us-gaap:ForeignPlanMember2019-01-012019-06-300001012100us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-04-012020-06-300001012100us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2019-04-012019-06-300001012100us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-01-012020-06-300001012100us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2019-01-012019-06-300001012100see:GuaranteeObligationUnderClawbackAgreementMembersee:DiverseyCareMember2019-12-310001012100see:NorthAmericanFoamTraysAndAbsorbentPadsMember2014-02-032014-02-030001012100see:WilliamRussellGraceAsbestosPiTrustAndWilliamRussellGraceAsbestosPdTrustMember2014-02-032014-02-0300010121002014-06-1300010121002014-06-132014-06-130001012100us-gaap:CommonStockMembersee:July2015RepurchaseProgramMember2018-05-020001012100see:July2015RepurchaseProgramMember2019-04-012019-06-300001012100see:July2015RepurchaseProgramMember2019-01-012019-06-3000010121002020-02-132020-02-1300010121002020-03-202020-03-2000010121002020-05-212020-05-2100010121002020-06-192020-06-190001012100us-gaap:SubsequentEventMember2020-07-172020-07-170001012100see:TwoThousandFourteenOmnibusIncentivePlanMember2014-05-220001012100see:TwoThousandFourteenOmnibusIncentivePlanMember2018-01-012018-12-310001012100see:A2020ThreeYearPerformanceShareUnitsAwardsMember2020-01-012020-06-300001012100srt:MinimumMembersee:A2020ThreeYearPerformanceShareUnitsAwardsMember2020-01-012020-06-300001012100see:A2020ThreeYearPerformanceShareUnitsAwardsMembersrt:MaximumMember2020-01-012020-06-300001012100see:PerformanceShareUnitsAndShareholderReturnMember2020-02-122020-02-120001012100see:PerformanceShareUnitsReturnOnInvestedCapitalROICMember2020-02-122020-02-120001012100see:PerformanceStockUnitAdjustedEBITDACAGRMember2020-02-122020-02-120001012100see:PerformanceShareUnitsAndShareholderReturnMember2020-02-132020-02-130001012100see:PerformanceShareUnitsReturnOnInvestedCapitalROICMember2020-02-132020-02-130001012100see:PerformanceStockUnitAdjustedEBITDACAGRMember2020-02-132020-02-130001012100see:PerformanceShareUnitsAndShareholderReturnMember2020-03-012020-03-010001012100see:PerformanceShareUnitsReturnOnInvestedCapitalROICMember2020-03-012020-03-010001012100see:PerformanceStockUnitAdjustedEBITDACAGRMember2020-03-012020-03-010001012100see:A2017ThreeYearPerformanceShareUnitsAwardsMember2020-01-012020-06-300001012100see:A20172019ThreeYearPerformanceShareUnitsAwardsMember2020-02-012020-02-290001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2018-12-310001012100us-gaap:AccumulatedTranslationAdjustmentMember2018-12-310001012100us-gaap:NetInvestmentHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-310001012100us-gaap:CashFlowHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-310001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-01-012019-06-300001012100us-gaap:AccumulatedTranslationAdjustmentMember2019-01-012019-06-300001012100us-gaap:NetInvestmentHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-01-012019-06-300001012100us-gaap:CashFlowHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-01-012019-06-300001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-06-300001012100us-gaap:AccumulatedTranslationAdjustmentMember2019-06-300001012100us-gaap:NetInvestmentHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-06-300001012100us-gaap:CashFlowHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-06-300001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2019-12-310001012100us-gaap:AccumulatedTranslationAdjustmentMember2019-12-310001012100us-gaap:NetInvestmentHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-310001012100us-gaap:CashFlowHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-310001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-01-012020-06-300001012100us-gaap:AccumulatedTranslationAdjustmentMember2020-01-012020-06-300001012100us-gaap:NetInvestmentHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-06-300001012100us-gaap:CashFlowHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-06-300001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-06-300001012100us-gaap:AccumulatedTranslationAdjustmentMember2020-06-300001012100us-gaap:NetInvestmentHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-06-300001012100us-gaap:CashFlowHedgingMemberus-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-06-300001012100srt:ConsolidationEliminationsMemberus-gaap:AccumulatedTranslationAdjustmentMember2020-06-300001012100srt:ConsolidationEliminationsMemberus-gaap:AccumulatedTranslationAdjustmentMember2019-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2020-04-012020-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2019-04-012019-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2020-01-012020-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMember2019-01-012019-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2020-04-012020-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2019-04-012019-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2020-01-012020-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMember2019-01-012019-06-300001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-300001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-300001012100us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2019-01-012019-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-04-012020-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-04-012019-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-01-012020-06-300001012100us-gaap:ForeignExchangeForwardMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-01-012019-06-300001012100us-gaap:TreasuryLockMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-04-012020-06-300001012100us-gaap:TreasuryLockMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-04-012019-06-300001012100us-gaap:TreasuryLockMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-01-012020-06-300001012100us-gaap:TreasuryLockMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-01-012019-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-04-012020-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-04-012019-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-01-012020-06-300001012100us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2019-01-012019-06-30


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q 
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
Or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                      to                     
Commission File Number: 1-12139

see-20200630_g1.jpg
SEALED AIR CORPORATION
(Exact name of registrant as specified in its charter)

 
Delaware 65-0654331
(State or other jurisdiction of
incorporation or organization)
 (I.R.S. Employer
Identification Number)
2415 Cascade Pointe Boulevard 
CharlotteNorth Carolina28208
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (980221-3235 
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock, par value $0.10 per shareSEENew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ☒    No  ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer   Accelerated filer ¨
       
Non-accelerated filer ¨  Smaller reporting company 
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  ý
There were 155,676,478 shares of the registrant’s common stock, par value $0.10 per share, issued and outstanding as of July 31, 2020.




 Page
PART I. FINANCIAL INFORMATION 
PART II.  OTHER INFORMATION 





see-20200630_g2.jpg
2


Cautionary Notice Regarding Forward-Looking Statements
This report contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. The Securities and Exchange Commission (“SEC”) encourages companies to disclose forward-looking statements so that investors can better understand a company’s future prospects and make informed investment decisions. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as “anticipate,” “believe,” “plan,” “assume,” “could,” “should,” “estimate,” “expect,” “intend,” “potential,” “seek,” “predict,” “may,” “will” and similar references to future periods. All statements other than statements of historical facts included in this report regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, statements we make regarding expected future operating results, expectations regarding the results of restructuring and other programs, anticipated levels of capital expenditures and expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings.

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, currency translation and devaluation effects, changes in raw material pricing and availability, competitive conditions, the success of new product offerings, consumer preferences, the effects of animal and food-related health issues, pandemics, including the Coronavirus Disease 2019 (COVID-19), changes in energy costs, environmental matters, the success of our restructuring activities, the success of our financial growth, profitability, cash generation and manufacturing strategies and our cost reduction and productivity efforts, changes in our credit ratings, the tax benefit associated with the Settlement agreement (as defined in our Annual Report on Form 10-K for the year ended December 31, 2019), regulatory actions and legal matters, and the other information referenced in Part I, Item 1A, "Risk Factors", of our Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the SEC, as revised and updated in Part II, Item 1A, “Risk Factors,” of this Quarterly Report on Form 10-Q. Any forward-looking statement made by us in this report is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
3


SEALED AIR CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets 
(Unaudited)
(In USD millions, except share and per share data)June 30, 2020December 31, 2019
Assets  
Current assets:  
Cash and cash equivalents$289.7  $262.4  
Trade receivables, net of allowance for doubtful accounts of $9.2 in 2020 and $8.2 in 2019
515.8  556.5  
Income tax receivables14.8  32.8  
Other receivables69.8  80.3  
Inventories, net of inventory reserves of $18.8 in 2020 and $19.6 in 2019
638.2  570.3  
Current assets held for sale0.7  2.8  
Prepaid expenses and other current assets103.1  58.9  
Total current assets1,632.1  1,564.0  
Property and equipment, net1,115.2  1,141.9  
Goodwill2,196.4  2,216.9  
Identifiable intangible assets, net171.8  182.1  
Deferred taxes236.1  238.6  
Operating lease right-of-use-assets81.7  90.1  
Other non-current assets323.0  331.6  
Total assets$5,756.3  $5,765.2  
Liabilities and Stockholders' Deficit  
Current liabilities:  
Short-term borrowings$81.7  $98.9  
Current portion of long-term debt21.8  16.7  
Current portion of operating lease liabilities24.9  26.2  
Accounts payable724.1  738.5  
Accrued restructuring costs22.9  29.5  
Income tax payable43.4  12.3  
Other current liabilities435.9  514.1  
Total current liabilities1,354.7  1,436.2  
Long-term debt, less current portion3,692.7  3,698.6  
Long-term operating lease liabilities, less current portion58.7  65.7  
Deferred taxes31.6  30.7  
Other non-current liabilities688.7  730.2  
Total liabilities5,826.4  5,961.4  
Commitments and contingencies - Note 19
Stockholders’ deficit:  
Preferred stock, $0.10 par value per share, 50,000,000 shares authorized; no shares issued in 2020 and 2019
    
Common stock, $0.10 par value per share, 400,000,000 shares authorized; shares issued: 231,966,871 in 2020 and 231,622,535 in 2019; shares outstanding: 155,680,716 in 2020 and 154,512,813 in 2019
23.2  23.2  
Additional paid-in capital2,070.9  2,073.5  
Retained earnings2,175.1  1,998.5  
Common stock in treasury, 76,286,155 shares in 2020 and 77,109,722 shares in 2019
(3,346.3) (3,382.4) 
Accumulated other comprehensive loss, net of taxes(993.0) (909.0) 
Total stockholders’ deficit(70.1) (196.2) 
Total liabilities and stockholders’ deficit$5,756.3  $5,765.2  
 
See accompanying Notes to Condensed Consolidated Financial Statements.
 

4


SEALED AIR CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Operations
(Unaudited)
 
Three Months Ended June 30,Six Months Ended June 30,
(In USD millions, except per share data)2020201920202019
Net sales$1,151.2  $1,161.0  $2,325.1  $2,273.7  
Cost of sales761.3  782.7  1,544.7  1,530.2  
Gross profit389.9  378.3  780.4  743.5  
Selling, general and administrative expenses184.5  266.2  378.6  478.3  
Amortization expense of intangible assets acquired9.3  4.4  18.3  9.0  
Restructuring charges10.1  29.3  10.7  36.7  
Operating profit186.0  78.4  372.8  219.5  
Interest expense, net(43.3) (43.2) (87.7) (88.1) 
Foreign currency exchange loss due to highly inflationary economies(1.2) (1.3) (2.1) (2.1) 
Other income, net3.4  3.9  9.1  3.2  
Earnings before income tax provision144.9  37.8  292.1  132.5  
Income tax provision44.6  12.3  77.3  42.7  
Net earnings from continuing operations100.3  25.5  214.8  89.8  
(Loss) Gain on sale of discontinued operations, net of tax(0.2) 7.7  11.9  0.9  
Net earnings$100.1  $33.2  $226.7  $90.7  
Basic:    
Continuing operations$0.64  $0.16  $1.38  $0.58  
Discontinued operations  0.06  0.08  0.01  
Net earnings per common share - basic
$0.64  $0.22  $1.46  $0.59  
Diluted:
Continuing operations$0.64  $0.16  $1.38  $0.58  
Discontinued operations  0.05  0.08    
Net earnings per common share - diluted
$0.64  $0.21  $1.46  $0.58  
Weighted average number of common shares outstanding:
Basic155.6  154.5  155.1  154.6  
    Diluted155.9  155.3  155.4  155.3  
 
See accompanying Notes to Condensed Consolidated Financial Statements.


5


SEALED AIR CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive Income
(Unaudited)
 
Three Months Ended June 30,Six Months Ended June 30,
2020201920202019
(In USD millions)GrossTaxesNetGrossTaxesNetGrossTaxesNetGrossTaxesNet
Net earnings$100.1  $33.2  $226.7  $90.7  
Other comprehensive income (loss):    
Recognition of pension items
$1.5  $(0.4) 1.1  $1.1  $(0.2) 0.9  $2.8  $(0.7) 2.1  $2.2  $(0.5) 1.7  
Unrealized (losses) on derivative instruments for net investment hedge
(7.7) 1.9  (5.8) (6.0) 1.5  (4.5) (1.7) 0.4  (1.3) 3.0  (0.7) 2.3  
Unrealized (losses) gains on derivative instruments for cash flow hedge
(3.0) 0.8  (2.2) (0.1) 0.1    3.1  (0.8) 2.3  (1.8) 0.5  (1.3) 
Foreign currency translation adjustments
29.3  2.9  32.2  (9.8) 0.6  (9.2) (84.9) (2.2) (87.1) 6.4  (0.1) 6.3  
Other comprehensive income (loss)$20.1  $5.2  25.3  $(14.8) $2.0  (12.8) $(80.7) $(3.3) (84.0) $9.8  $(0.8) 9.0  
Comprehensive income, net of taxes
$125.4  $20.4  $142.7  $99.7  
 
See accompanying Notes to Condensed Consolidated Financial Statements.
6


SEALED AIR CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Stockholders’ Deficit
(Unaudited)
(In USD millions)Common StockAdditional
Paid-in Capital
Retained EarningsCommon Stock
in Treasury
Accumulated Other
Comprehensive
Loss, Net of Taxes
Total
Stockholders’
Deficit
Balance at March 31, 2020$23.2  $2,059.6  $2,099.9  $(3,346.3) $(1,018.3) $(181.9) 
Effect of share-based incentive compensation—  11.3  —  —  —  11.3  
Recognition of pension items, net of taxes—  —  —  —  1.1  1.1  
Foreign currency translation adjustments—  —  —  —  32.2  32.2  
Unrealized loss on derivative instruments, net of taxes—  —  —  —  (8.0) (8.0) 
Net earnings—  —  100.1  —  —  100.1  
Dividends on common stock ($0.16 per share)
—  —  (24.9) —  —  (24.9) 
Balance at June 30, 2020$23.2  $2,070.9  $2,175.1  $(3,346.3) $(993.0) $(70.1) 
Balance at December 31, 2019$23.2  $2,073.5  $1,998.5  $(3,382.4) $(909.0) $(196.2) 
Effect of share-based incentive compensation—  9.1  —  —  —  9.1  
Stock issued for profit sharing contribution paid in stock
—  (11.7) —  36.1  —  24.4  
Recognition of pension items, net of taxes—  —  —  —  2.1  2.1  
Foreign currency translation adjustments—  —  —  —  (87.1) (87.1) 
Unrealized gain on derivative instruments, net of taxes
—  —  —  —  1.0  1.0  
Net earnings—  —  226.7