SONOCO PRODUCTS CO, DEF 14A filed on 3/14/2025
Proxy Statement (definitive)
v3.25.0.1
Cover
 12 Months Ended
Dec. 31, 2024
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name Sonoco Products Company
Entity Central Index Key 0000091767
v3.25.0.1
Pay vs Performance Disclosure
pure in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, refer to “Executive Compensation—Compensation Discussion and Analysis.”
The following table shows the past five fiscal years’ total compensation for our Principal Executive Officer (PEO) and Named Executive Officers (NEOs) as set forth in the “Summary Compensation Table,” the compensation actually paid to our NEOs, the company’s total shareholder return (TSR), the combined TSR of our selected peer group, our Net Income, and our Adjusted EBITDA.
​
(a)
​ ​
(b)
​ ​
(c)
​ ​
(d)
​ ​
(e)
​ ​
(f)
​ ​
(g)
​ ​
(h)
​ ​
(i)
​ ​
(j)
​ ​
(k)
​
​
Year
​ ​
Summary
Compensation
Table Total for
First PEO(1)
​ ​
Summary
Compensation
Table Total for
Second PEO(2)
​ ​
Compensation
actually paid
to First
PEO(3)(4)
​ ​
Compensation
actually paid
to Second
PEO(2)(4)
​ ​
Average
Summary
Compensation
Table
Total for
Non-CEO
NEOs(3)
​ ​
Average
Compensation
actually paid
for Non-CEO
NEOs(3)
​ ​
Value of
initial Fixed
$100 Investment
based on:
​ ​
Net Income
(000s)
​ ​
Adjusted
EBITDA(7)
(000s)
​
​
TSR(5)
​ ​
Peer
Group
TSR(6)
​
​ 2024 ​ ​ ​ $ 10,107,802 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 7,899,237 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 2,864,523 ​ ​ ​ ​ $ 2,438,687 ​ ​ ​ ​ ​ 93.63 ​ ​ ​ ​ ​ 136.68 ​ ​ ​ ​ $ 163,940 ​ ​ ​ ​ $ 1,032,335 ​ ​
​ 2023 ​ ​ ​ ​ 8,538,593 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,755,985 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,178,332 ​ ​ ​ ​ ​ 1,898,091 ​ ​ ​ ​ ​ 103.03 ​ ​ ​ ​ ​ 118.91 ​ ​ ​ ​ ​ 474,901 ​ ​ ​ ​ ​ 1,049,857 ​ ​
​ 2022 ​ ​ ​ ​ 9,794,049 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 16,284,414 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,725,992 ​ ​ ​ ​ ​ 3,254,066 ​ ​ ​ ​ ​ 108.05 ​ ​ ​ ​ ​ 110.49 ​ ​ ​ ​ ​ 466,980 ​ ​ ​ ​ ​ 1,147,809 ​ ​
​ 2021 ​ ​ ​ ​ 6,618,454 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9,843,147 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,476,273 ​ ​ ​ ​ ​ 3,575,707 ​ ​ ​ ​ ​ 99.75 ​ ​ ​ ​ ​ 134.41 ​ ​ ​ ​ ​ (82,711) ​ ​ ​ ​ ​ 758,033 ​ ​
​ 2020 ​ ​ ​ ​ 6,815,923 ​ ​ ​ ​ $ 1,934,105 ​ ​ ​ ​ ​ 5,088,280 ​ ​ ​ ​ $ (2,271,154) ​ ​ ​ ​ ​ 2,530,532 ​ ​ ​ ​ ​ 1,557,308 ​ ​ ​ ​ ​ 99.24 ​ ​ ​ ​ ​ 121.14 ​ ​ ​ ​ ​ 207,241 ​ ​ ​ ​ ​ 789,735 ​ ​
(1)
The first PEO is Mr. Coker who was appointed as CEO effective February 1, 2020.
​
(2)
The second PEO is Mr. Tiede, who retired as the Company’s CEO effective February 1, 2020.
​
(3)
The Other NEO’s for each applicable year are:
​
Year
​ ​
Non-CEO NEOs
​
2024 ​ ​ Robert R. Dillard, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III ​
2023 ​ ​ Robert R. Dillard, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III ​
2022 ​ ​
Robert R. Dillard, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III, Julie C. Albrecht
​
2021 ​ ​ Julie C. Albrecht, Rodger D. Fuller, John M. Florence, Jr., Jeffrey S. Tomaszewski ​
2020 ​ ​ Julie C. Albrecht, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III ​
​
(4)
The SEC rules require that certain adjustments be made to the Summary Compensation Table totals to determine compensation actually paid, as reported in the Pay versus Performance table above. The following table details the applicable adjustments that were made to determine compensation actually paid:
​
Year
​ ​
Executive
​ ​
Reported
Summary
Compensation
Table
Total
​ ​
Reported
Value of
Equity
Awards
​ ​
Reported
Change in
the Actuarial
Present
Value of
Pension
Benefits
​ ​
Pension
Benefit
Adjustments
​ ​
Year End
Fair Value
of Equity
Awards
granted
that are
unvested
in the
year
​ ​
Year over
Year Change
in Fair
Value of
Outstanding
and
Unvested
Equity
Awards
​ ​
Fair Value
as of
Vesting
Date of
Equity
Awards
Granted and
Vested
in the
Year
​ ​
Year over
Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
​ ​
Fair Value
at the End
of the
Prior Year
of Equity
Awards
that
Failed to
Meet Vesting
Conditions
in the Year
​ ​
Value of
Dividends or
other
Earnings
Paid on
Stock or
Option
Awards
not Otherwise
Reflected in
Fair Value
or Total
Compensation
​ ​
Compensation
actually
paid
​
2024
​ ​
First PEO
​ ​ ​ $ 10,107,802 ​ ​ ​ ​ ($ 6,829,915) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ $ 5,100,276 ​ ​ ​ ​ $ 87,804 ​ ​ ​ ​ $ 29,844 ​ ​ ​ ​ ($ 670,572) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ $ 73,998 ​ ​ ​ ​ $ 7,899,237 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,864,523 ​ ​ ​ ​ ​ (1,459,863) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,082,898 ​ ​ ​ ​ ​ 43,552 ​ ​ ​ ​ ​ 8,475 ​ ​ ​ ​ ​ (112,060) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 11,162 ​ ​ ​ ​ ​ 2,438,687 ​ ​
2023
​ ​
First PEO
​ ​ ​ ​ 8,538,593 ​ ​ ​ ​ ​ (6,876,983) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 3,929,476 ​ ​ ​ ​ ​ (725,784) ​ ​ ​ ​ ​ 76,924 ​ ​ ​ ​ ​ (263,750) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 77,508 ​ ​ ​ ​ ​ 4,755,985 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,178,332 ​ ​ ​ ​ ​ (1,350,697) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 763,944 ​ ​ ​ ​ ​ (82,854) ​ ​ ​ ​ ​ 17,671 ​ ​ ​ ​ ​ 368,713 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 2,982 ​ ​ ​ ​ ​ 1,898,091 ​ ​
2022
​ ​
First PEO
​ ​ ​ ​ 9,794,049 ​ ​ ​ ​ ​ (6,205,527) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 10,779,310 ​ ​ ​ ​ ​ 581,110 ​ ​ ​ ​ ​ 55,444 ​ ​ ​ ​ ​ 1,205,478 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 74,552 ​ ​ ​ ​ ​ 16,284,414 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,725,992 ​ ​ ​ ​ ​ (1,256,896) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,845,761 ​ ​ ​ ​ ​ 144,056 ​ ​ ​ ​ ​ 18,035 ​ ​ ​ ​ ​ 484,261 ​ ​ ​ ​ ​ (708,330) ​ ​ ​ ​ ​ 1,186 ​ ​ ​ ​ ​ 3,254,066 ​ ​
2021
​ ​
First PEO
​ ​ ​ ​ 6,618,454 ​ ​ ​ ​ ​ (4,038,338) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 6,190,510 ​ ​ ​ ​ ​ 996,078 ​ ​ ​ ​ ​ 38,276 ​ ​ ​ ​ ​ (22,559) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 60,727 ​ ​ ​ ​ ​ 9,843,147 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,476,273 ​ ​ ​ ​ ​ (1,141,733) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,731,454 ​ ​ ​ ​ ​ 506,431 ​ ​ ​ ​ ​ 7,286 ​ ​ ​ ​ ​ (8,536) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 4,531 ​ ​ ​ ​ ​ 3,575,707 ​ ​
2020
​ ​
First PEO
​ ​ ​ ​ 6,815,923 ​ ​ ​ ​ ​ (4,020,436) ​ ​ ​ ​ ​ (1,018,274) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 3,636,584 ​ ​ ​ ​ ​ (196,412) ​ ​ ​ ​ ​ 20,306 ​ ​ ​ ​ ​ (216,127) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 66,716 ​ ​ ​ ​ ​ 5,088,280 ​ ​
​
Second PEO
​ ​ ​ ​ 1,934,105 ​ ​ ​ ​ ​ (42,259) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ (173,277) ​ ​ ​ ​ ​ 42,259 ​ ​ ​ ​ ​ (893,944) ​ ​ ​ ​ ​ (3,138,038) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ (2,271,154) ​ ​
​
Avg NEO
​ ​ ​ ​ 2,530,532 ​ ​ ​ ​ ​ (963,934) ​ ​ ​ ​ ​ (506,939) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 734,432 ​ ​ ​ ​ ​ (116,406) ​ ​ ​ ​ ​ 5,077 ​ ​ ​ ​ ​ (126,593) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,138 ​ ​ ​ ​ ​ 1,557,308 ​ ​
(5)
The amounts reported in this column reflect the cumulative total stockholder return on our common stock for each of the last five fiscal years ended December 31, 2024, assuming an investment of $100 on December 31, 2020, and the reinvestment of any dividends.
​
(6)
The peer group used in this disclosure, the Dow Jones Container and Packaging Index, is the same peer group used in the Stock Performance Graph in Part II, Item 5 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
​
(7)
Adjusted EBITDA is a non-GAAP financial measure which begins with Adjusted operating profit, which excludes tax and interest and then adds back deductions for the cost of depreciation and amortization, adjusted for unbudgeted EBITDA related to acquisitions and divestitures in a given year. Adjusted operating profit and Adjusted EBITDA are non-GAAP financial measures. A reconciliation on how Adjusted operating profit was calculated is provided in Appendix 1.
​
        
Company Selected Measure Name Adjusted EBITDA        
Named Executive Officers, Footnote
(1)
The first PEO is Mr. Coker who was appointed as CEO effective February 1, 2020.
​
(2)
The second PEO is Mr. Tiede, who retired as the Company’s CEO effective February 1, 2020.
​
(3)
The Other NEO’s for each applicable year are:
​
Year
​​
Non-CEO NEOs
​ 2024 ​​ Robert R. Dillard, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III ​ 2023 ​​ Robert R. Dillard, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III ​ 2022 ​​
Robert R. Dillard, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell, III, Julie C. Albrecht
​ 2021 ​​ Julie C. Albrecht, Rodger D. Fuller, John M. Florence, Jr., Jeffrey S. Tomaszewski ​ 2020 ​​ Julie C. Albrecht, Rodger D. Fuller, John M. Florence, Jr., James A. Harrell 		       
Peer Group Issuers, Footnote
(6)
The peer group used in this disclosure, the Dow Jones Container and Packaging Index, is the same peer group used in the Stock Performance Graph in Part II, Item 5 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
       
Adjustment To PEO Compensation, Footnote
(4)
The SEC rules require that certain adjustments be made to the Summary Compensation Table totals to determine compensation actually paid, as reported in the Pay versus Performance table above. The following table details the applicable adjustments that were made to determine compensation actually paid:
​
Year
​ ​
Executive
​ ​
Reported
Summary
Compensation
Table
Total
​ ​
Reported
Value of
Equity
Awards
​ ​
Reported
Change in
the Actuarial
Present
Value of
Pension
Benefits
​ ​
Pension
Benefit
Adjustments
​ ​
Year End
Fair Value
of Equity
Awards
granted
that are
unvested
in the
year
​ ​
Year over
Year Change
in Fair
Value of
Outstanding
and
Unvested
Equity
Awards
​ ​
Fair Value
as of
Vesting
Date of
Equity
Awards
Granted and
Vested
in the
Year
​ ​
Year over
Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
​ ​
Fair Value
at the End
of the
Prior Year
of Equity
Awards
that
Failed to
Meet Vesting
Conditions
in the Year
​ ​
Value of
Dividends or
other
Earnings
Paid on
Stock or
Option
Awards
not Otherwise
Reflected in
Fair Value
or Total
Compensation
​ ​
Compensation
actually
paid
​
2024
​ ​
First PEO
​ ​ ​ $ 10,107,802 ​ ​ ​ ​ ($ 6,829,915) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ $ 5,100,276 ​ ​ ​ ​ $ 87,804 ​ ​ ​ ​ $ 29,844 ​ ​ ​ ​ ($ 670,572) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ $ 73,998 ​ ​ ​ ​ $ 7,899,237 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,864,523 ​ ​ ​ ​ ​ (1,459,863) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,082,898 ​ ​ ​ ​ ​ 43,552 ​ ​ ​ ​ ​ 8,475 ​ ​ ​ ​ ​ (112,060) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 11,162 ​ ​ ​ ​ ​ 2,438,687 ​ ​
2023
​ ​
First PEO
​ ​ ​ ​ 8,538,593 ​ ​ ​ ​ ​ (6,876,983) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 3,929,476 ​ ​ ​ ​ ​ (725,784) ​ ​ ​ ​ ​ 76,924 ​ ​ ​ ​ ​ (263,750) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 77,508 ​ ​ ​ ​ ​ 4,755,985 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,178,332 ​ ​ ​ ​ ​ (1,350,697) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 763,944 ​ ​ ​ ​ ​ (82,854) ​ ​ ​ ​ ​ 17,671 ​ ​ ​ ​ ​ 368,713 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 2,982 ​ ​ ​ ​ ​ 1,898,091 ​ ​
2022
​ ​
First PEO
​ ​ ​ ​ 9,794,049 ​ ​ ​ ​ ​ (6,205,527) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 10,779,310 ​ ​ ​ ​ ​ 581,110 ​ ​ ​ ​ ​ 55,444 ​ ​ ​ ​ ​ 1,205,478 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 74,552 ​ ​ ​ ​ ​ 16,284,414 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,725,992 ​ ​ ​ ​ ​ (1,256,896) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,845,761 ​ ​ ​ ​ ​ 144,056 ​ ​ ​ ​ ​ 18,035 ​ ​ ​ ​ ​ 484,261 ​ ​ ​ ​ ​ (708,330) ​ ​ ​ ​ ​ 1,186 ​ ​ ​ ​ ​ 3,254,066 ​ ​
2021
​ ​
First PEO
​ ​ ​ ​ 6,618,454 ​ ​ ​ ​ ​ (4,038,338) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 6,190,510 ​ ​ ​ ​ ​ 996,078 ​ ​ ​ ​ ​ 38,276 ​ ​ ​ ​ ​ (22,559) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 60,727 ​ ​ ​ ​ ​ 9,843,147 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,476,273 ​ ​ ​ ​ ​ (1,141,733) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,731,454 ​ ​ ​ ​ ​ 506,431 ​ ​ ​ ​ ​ 7,286 ​ ​ ​ ​ ​ (8,536) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 4,531 ​ ​ ​ ​ ​ 3,575,707 ​ ​
2020
​ ​
First PEO
​ ​ ​ ​ 6,815,923 ​ ​ ​ ​ ​ (4,020,436) ​ ​ ​ ​ ​ (1,018,274) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 3,636,584 ​ ​ ​ ​ ​ (196,412) ​ ​ ​ ​ ​ 20,306 ​ ​ ​ ​ ​ (216,127) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 66,716 ​ ​ ​ ​ ​ 5,088,280 ​ ​
​
Second PEO
​ ​ ​ ​ 1,934,105 ​ ​ ​ ​ ​ (42,259) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ (173,277) ​ ​ ​ ​ ​ 42,259 ​ ​ ​ ​ ​ (893,944) ​ ​ ​ ​ ​ (3,138,038) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ (2,271,154) ​ ​
​
Avg NEO
​ ​ ​ ​ 2,530,532 ​ ​ ​ ​ ​ (963,934) ​ ​ ​ ​ ​ (506,939) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 734,432 ​ ​ ​ ​ ​ (116,406) ​ ​ ​ ​ ​ 5,077 ​ ​ ​ ​ ​ (126,593) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,138 ​ ​ ​ ​ ​ 1,557,308 ​ ​
       
Non-PEO NEO Average Total Compensation Amount $ 2,864,523 $ 2,178,332 $ 2,725,992 $ 2,476,273 $ 2,530,532
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,438,687 1,898,091 3,254,066 3,575,707 1,557,308
Adjustment to Non-PEO NEO Compensation Footnote
(4)
The SEC rules require that certain adjustments be made to the Summary Compensation Table totals to determine compensation actually paid, as reported in the Pay versus Performance table above. The following table details the applicable adjustments that were made to determine compensation actually paid:
​
Year
​ ​
Executive
​ ​
Reported
Summary
Compensation
Table
Total
​ ​
Reported
Value of
Equity
Awards
​ ​
Reported
Change in
the Actuarial
Present
Value of
Pension
Benefits
​ ​
Pension
Benefit
Adjustments
​ ​
Year End
Fair Value
of Equity
Awards
granted
that are
unvested
in the
year
​ ​
Year over
Year Change
in Fair
Value of
Outstanding
and
Unvested
Equity
Awards
​ ​
Fair Value
as of
Vesting
Date of
Equity
Awards
Granted and
Vested
in the
Year
​ ​
Year over
Year
Change in
Fair Value
of Equity
Awards
Granted in
Prior Years
that Vested
in the Year
​ ​
Fair Value
at the End
of the
Prior Year
of Equity
Awards
that
Failed to
Meet Vesting
Conditions
in the Year
​ ​
Value of
Dividends or
other
Earnings
Paid on
Stock or
Option
Awards
not Otherwise
Reflected in
Fair Value
or Total
Compensation
​ ​
Compensation
actually
paid
​
2024
​ ​
First PEO
​ ​ ​ $ 10,107,802 ​ ​ ​ ​ ($ 6,829,915) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ $ 5,100,276 ​ ​ ​ ​ $ 87,804 ​ ​ ​ ​ $ 29,844 ​ ​ ​ ​ ($ 670,572) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ $ 73,998 ​ ​ ​ ​ $ 7,899,237 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,864,523 ​ ​ ​ ​ ​ (1,459,863) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,082,898 ​ ​ ​ ​ ​ 43,552 ​ ​ ​ ​ ​ 8,475 ​ ​ ​ ​ ​ (112,060) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 11,162 ​ ​ ​ ​ ​ 2,438,687 ​ ​
2023
​ ​
First PEO
​ ​ ​ ​ 8,538,593 ​ ​ ​ ​ ​ (6,876,983) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 3,929,476 ​ ​ ​ ​ ​ (725,784) ​ ​ ​ ​ ​ 76,924 ​ ​ ​ ​ ​ (263,750) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 77,508 ​ ​ ​ ​ ​ 4,755,985 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,178,332 ​ ​ ​ ​ ​ (1,350,697) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 763,944 ​ ​ ​ ​ ​ (82,854) ​ ​ ​ ​ ​ 17,671 ​ ​ ​ ​ ​ 368,713 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 2,982 ​ ​ ​ ​ ​ 1,898,091 ​ ​
2022
​ ​
First PEO
​ ​ ​ ​ 9,794,049 ​ ​ ​ ​ ​ (6,205,527) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 10,779,310 ​ ​ ​ ​ ​ 581,110 ​ ​ ​ ​ ​ 55,444 ​ ​ ​ ​ ​ 1,205,478 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 74,552 ​ ​ ​ ​ ​ 16,284,414 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,725,992 ​ ​ ​ ​ ​ (1,256,896) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,845,761 ​ ​ ​ ​ ​ 144,056 ​ ​ ​ ​ ​ 18,035 ​ ​ ​ ​ ​ 484,261 ​ ​ ​ ​ ​ (708,330) ​ ​ ​ ​ ​ 1,186 ​ ​ ​ ​ ​ 3,254,066 ​ ​
2021
​ ​
First PEO
​ ​ ​ ​ 6,618,454 ​ ​ ​ ​ ​ (4,038,338) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 6,190,510 ​ ​ ​ ​ ​ 996,078 ​ ​ ​ ​ ​ 38,276 ​ ​ ​ ​ ​ (22,559) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 60,727 ​ ​ ​ ​ ​ 9,843,147 ​ ​
​
Avg NEO
​ ​ ​ ​ 2,476,273 ​ ​ ​ ​ ​ (1,141,733) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,731,454 ​ ​ ​ ​ ​ 506,431 ​ ​ ​ ​ ​ 7,286 ​ ​ ​ ​ ​ (8,536) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 4,531 ​ ​ ​ ​ ​ 3,575,707 ​ ​
2020
​ ​
First PEO
​ ​ ​ ​ 6,815,923 ​ ​ ​ ​ ​ (4,020,436) ​ ​ ​ ​ ​ (1,018,274) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 3,636,584 ​ ​ ​ ​ ​ (196,412) ​ ​ ​ ​ ​ 20,306 ​ ​ ​ ​ ​ (216,127) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 66,716 ​ ​ ​ ​ ​ 5,088,280 ​ ​
​
Second PEO
​ ​ ​ ​ 1,934,105 ​ ​ ​ ​ ​ (42,259) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ (173,277) ​ ​ ​ ​ ​ 42,259 ​ ​ ​ ​ ​ (893,944) ​ ​ ​ ​ ​ (3,138,038) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ (2,271,154) ​ ​
​
Avg NEO
​ ​ ​ ​ 2,530,532 ​ ​ ​ ​ ​ (963,934) ​ ​ ​ ​ ​ (506,939) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 734,432 ​ ​ ​ ​ ​ (116,406) ​ ​ ​ ​ ​ 5,077 ​ ​ ​ ​ ​ (126,593) ​ ​ ​ ​ ​ 0 ​ ​ ​ ​ ​ 1,138 ​ ​ ​ ​ ​ 1,557,308 ​ ​
       
Compensation Actually Paid vs. Total Shareholder Return
COMPENSATION ACTUAL PAID VS. COMPANY TSR
[MISSING IMAGE: bc_actual-pn.jpg]
       
Compensation Actually Paid vs. Net Income
COMPENSATION PAID VS. NET INCOME
[MISSING IMAGE: bc_netincome-pn.jpg]
       
Compensation Actually Paid vs. Company Selected Measure
COMPENSATION PAID VS. ADJUSTED EBITDA
[MISSING IMAGE: bc_ebitda-pn.jpg]
       
Total Shareholder Return Vs Peer Group
COMPANY TSR VERSUS PEER GROUP
[MISSING IMAGE: lc_tsr-pn.jpg]
       
Tabular List, Table
Financial Performance Measures
As described in greater detail in “Executive Compensation—Compensation Discussion and Analysis,” the Company’s executive compensation program reflects a variable pay-for-performance philosophy. The metrics that the Company uses for both the long-term and short-term incentive awards are selected based on an objective of incentivizing the NEOs to increase shareholder value. The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to the Company’s performance are as follows:
•
Adjusted EBITDA;
​
Adjusted EPS;
​
Return on Invested Capital (ROIC); and
​
Operating Cash Flow.
       
Total Shareholder Return Amount $ 93.63 103.03 108.05 99.75 99.24
Peer Group Total Shareholder Return Amount 136.68 118.91 110.49 134.41 121.14
Net Income (Loss) $ 163,940,000 $ 474,901,000 $ 466,980,000 $ (82,711,000) $ 207,241,000
Company Selected Measure Amount 1,032,335 1,049,857,000 1,147,809,000 758,033,000 789,735,000
PEO Name Mr. Coker        
Additional 402(v) Disclosure
CEO: SUMMARY COMPENSATION TABLE VS. COMPENSATION ACTUALLY PAID
[MISSING IMAGE: bc_ceo-pn.jpg]
AVERAGE NON-CEO NEOs: SUMMARY COMPENSATION TABLE VS. COMPENSATION ACTUALLY PAID
[MISSING IMAGE: bc_avgnonceoneo-pn.jpg]
       
Measure:: 1          
Pay vs Performance Disclosure          
Name Adjusted EBITDA        
Non-GAAP Measure Description
(7)
Adjusted EBITDA is a non-GAAP financial measure which begins with Adjusted operating profit, which excludes tax and interest and then adds back deductions for the cost of depreciation and amortization, adjusted for unbudgeted EBITDA related to acquisitions and divestitures in a given year. Adjusted operating profit and Adjusted EBITDA are non-GAAP financial measures. A reconciliation on how Adjusted operating profit was calculated is provided in Appendix 1.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name Adjusted EPS        
Measure:: 3          
Pay vs Performance Disclosure          
Name Return on Invested Capital (ROIC)        
Measure:: 4          
Pay vs Performance Disclosure          
Name Operating Cash Flow        
Mr. Coker [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 10,107,802 $ 8,538,593 $ 9,794,049 $ 6,618,454 $ 6,815,923
PEO Actually Paid Compensation Amount 7,899,237 4,755,985 16,284,414 9,843,147 5,088,280
Non-PEO NEO Average Compensation Actually Paid Amount 7,899,237        
Mr. Tiede [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount         1,934,105
PEO Actually Paid Compensation Amount         (2,271,154)
PEO | Mr. Coker [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 (1,018,274)
PEO | Mr. Coker [Member] | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Mr. Coker [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (6,829,915) (6,876,983) (6,205,527) (4,038,338) (4,020,436)
PEO | Mr. Coker [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,100,276 3,929,476 10,779,310 6,190,510 3,636,584
PEO | Mr. Coker [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 87,804 (725,784) 581,110 996,078 (196,412)
PEO | Mr. Coker [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 29,844 76,924 55,444 38,276 20,306
PEO | Mr. Coker [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (670,572) (263,750) 1,205,478 (22,559) (216,127)
PEO | Mr. Coker [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
PEO | Mr. Coker [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 73,998 77,508 74,552 60,727 66,716
PEO | Mr. Tiede [Member] | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Mr. Tiede [Member] | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Mr. Tiede [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (42,259)
PEO | Mr. Tiede [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (173,277)
PEO | Mr. Tiede [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         42,259
PEO | Mr. Tiede [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (893,944)
PEO | Mr. Tiede [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         (3,138,038)
PEO | Mr. Tiede [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
PEO | Mr. Tiede [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount         0
Non-PEO NEO          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,438,687        
Non-PEO NEO | Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 (506,939)
Non-PEO NEO | Aggregate Pension Adjustments Service Cost          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,459,863) (1,350,697) (1,256,896) (1,141,733) (963,934)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,082,898 763,944 1,845,761 1,731,454 734,432
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 43,552 (82,854) 144,056 506,431 (116,406)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 8,475 17,671 18,035 7,286 5,077
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (112,060) 368,713 484,261 (8,536) (126,593)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 (708,330) 0 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 11,162 $ 2,982 $ 1,186 $ 4,531 $ 1,138
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true