WestRock Company (NYSE:WRK) Files An 8-K Other Events
Item 8.01. Other Events
WestRock Company (“WestRock”, “we” or “us”) is filing this Current Report on Form 8-K to provide revisions to its consolidated financial statements, and the notes thereto for the three years ended September 30, 2018 and other related disclosures in order to (i) reclassify our segment disclosures to reflect the new alignment, which took effect in the first quarter of fiscal 2019, of our reportable segments to move our merchandising displays operations from our Consumer Packaging segment to our Corrugated Packaging segment and to allocate certain previously non-allocated costs and certain pension and other postretirement non-service income (expense) to our reportable segments, (ii) account for the October 1, 2018 retrospective adoption of certain accounting standards for all periods therein, including, but not limited to, Accounting Standard Update (“ASU”) 2017-07 “Compensation: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”, ASU 2016-15 “Classification of Certain Cash Receipts and Cash Payments” and ASU 2016-18 “Restricted Cash”, and (iii) account for changes in our Rule 3-10 of Regulation S-X disclosures as outlined in “Note 24. Selected Condensed Consolidating Financial Statements of Parent, Issuer, Guarantors and Non-Guarantors”. The consolidated financial statements for the three years ended September 30, 2018 and the notes thereto initially were filed to Part II, Item 8, and Part IV, Item 15, of WestRock’s Annual Report on Form 10-K for the year ended September 30, 2018, which was filed on November 16, 2018 (the “2018 Form 10-K”). Those financials statements and the related notes were subsequently filed on January 16, 2019 as part of a Current Report on Form 8-K (the “January 2019 Form 8-K”) that included the condensed consolidating financial information of WestRock specified by Rule 3-10 of Regulation S-X as Note 24 to such financial statements.
Certain disclosures in Part I, Item 1 (Business) and Item 2 (Properties), Part II, Item 6 (Selected Financial Data) and Part II, Item 7 (Management’s Discussion and Analysis of Financial Condition and Results of Operations) of the 2018 Form 10-K as well as the consolidated financial statements and the notes thereto, and the Report of Independent Registered Public Accounting Firm on the Company’s consolidated financial statements are set forth in Exhibit 99.1 to this Current Report on Form 8-K and replace and supersede the corresponding disclosures, financial statements and report in the 2018 Form 10-K and the January 2019 Form 8-K. Other than the change in reportable segment alignment (and related changes to Management Discussion and Analysis of Financial Condition and Results of Operations), the retrospective adoption of certain accounting standards as outlined in “Note 1 Description of Business and Summary of Significant Accounting Policies” and the Report of Independent Registered Public Accounting Firm, and revisions to the condensed consolidating financial information of WestRock specified by Rule 3-10 of Regulation S-X, no other changes to the 2018 Form 10-K have been made, including to any forward looking statements that were contained in the 2018 Form 10-K.
Item 9.01Financial Statements and Exhibits.
The following exhibits are filed with this Current Report on Form 8-K:
WestRock Co Exhibit
EX-23 2 wrk-ex23_7.htm EX-23 wrk-ex23_7.htm EXHIBIT 23 Consent of Independent Registered Public Accounting Firm We consent to the incorporation by reference in the following Registration Statements: (1) Registration Statement (Form S-8 No. 333-205564) pertaining to the MeadWestvaco Corporation Savings and Employee Stock Ownership Plan for Bargained Hourly Employees,…
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About WestRock Company (NYSE:WRK)
WestRock Company is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment consists of its containerboard mill and corrugated packaging operations, as well as its recycling operations. The Consumer Packaging segment consists of consumer mills, folding carton, beverage, merchandising displays, home, health and beauty dispensing, and partition operations. The Land and Development segment is engaged in the development and sale of real estate primarily in Charleston, South Carolina. As of September 30, 2016, the Company owned approximately 61,000 acres of development landholdings primarily in the Charleston, South Carolina region. The Corrugated Packaging segment produces containerboard and high-graphics preprinted linerboard.