PACKAGING CORP OF AMERICA
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Business
Packaging Corporation of America (“we,” “us,” “our,” “PCA,” or the “Company”) is the third largest producer of containerboard products and a leading producer of uncoated freesheet (UFS) paper in North America. We operate ten mills and 91 corrugated products plants and related facilities. We are headquartered in Lake Forest, Illinois and operate in the United States.
We report in three reportable segments: Packaging, Paper and Corporate and Other. For segment financial information see Note 19, Segment Information, of the Notes to Consolidated Financial Statements in “Part II, Item 8, Financial Statements and Supplementary Data” of this Form 10-K.
On September 2, 2025, we completed the acquisition of the containerboard business of Greif, Inc. (“Greif” or “Greif Acquisition”) for $1.8 billion in cash. The Greif containerboard business includes two containerboard mills with approximately 800,000 tons of production capacity and eight sheet feeder and corrugated plants located across the United States. The operating results of Greif Acquisition are included in PCA’s results in the Packaging segment after the date of acquisition.
Production and Shipments
The following table summarizes the Packaging segment’s containerboard production and corrugated products shipments and the Paper segment’s UFS production.
| FirstQuarter · SecondQuarter · ThirdQuarter · FourthQuarter · Full Year | ||||||
|---|---|---|---|---|---|---|
| Containerboard Production (billion square feet) | 2025 | 72.5 | 69.2 | 77.4 | 85.8 | 304.9 |
| 2024 | 67.3 | 73.7 | 76.0 | 76.8 | 293.8 | |
| 2023 | 64.1 | 65.3 | 65.8 | 70.2 | 265.4 | |
| Containerboard Production (thousand tons) | 2025 | 1,250 | 1,195 | 1,302 | 1,407 | 5,154 |
| 2024 | 1,162 | 1,281 | 1,293 | 1,310 | 5,046 | |
| 2023 | 1,086 | 1,112 | 1,118 | 1,213 | 4,529 | |
| Corrugated Products Shipments (billion square feet) | 2025 | 16.4 | 16.5 | 18.1 | 20.1 | 71.1 |
| 2024 | 16.1 | 16.5 | 17.2 | 17.1 | 66.9 | |
| 2023 | 14.7 | 14.9 | 15.2 | 15.7 | 60.5 | |
| UFS Production (thousand tons) | 2025 | 124 | 115 | 124 | 121 | 484 |
| 2024 | 124 | 120 | 127 | 128 | 499 | |
| 2023 | 126 | 116 | 109 | 121 | 472 | |
Below is a map of our locations:
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.