U.S. paper mills ad spend 2021-2022

The source calculated the figures based on data from government filings and published financial records. Single industry values are based on data from participating companies. Each year the number of participating companies varies.
The historical data values for all companies within each specific industry are pooled in a cross-sectional time series analysis and a non-linear multivariate model is derived for the entire industry.
In calculating advertising-to-sales ratios, sales is defined as "top-line" of the company's income statement. In industry data, the ad-to-sales ratio is a weighted average ratio for the industry, based on the sales of each company.
A "0" value means that the expenditures reported amounted to less than 1,000 U.S. dollars per year. Missing values were not provided by the source due to lack of reporting from participating companies in the given industry.
Figures have been rounded.