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Segment Information | 12 Months Ended
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Dec. 31, 2014
Segment Reporting [Abstract] |
Segment Information | Segment Information Our business operations are organized into two reportable segments, which are aligned with the underlying markets and customers they serve. Our reportable segments are Packaging Systems and Delivery Systems. Packaging Systems develops, manufactures and sells primary packaging components and systems for injectable drug delivery, including stoppers and seals for vials, closures and other components used in syringe, intravenous and blood collection systems, and prefillable syringe components. Delivery Systems develops, manufactures and sells safety and administration systems, multi-component systems for drug administration, and a variety of custom contract-manufacturing solutions targeted to the healthcare and consumer-products industries. In addition, Delivery Systems is responsible for the continued development and commercialization of our line of proprietary, multi-component systems for injectable drug administration and other healthcare applications. Packaging Systems has three operating segments: the Americas, Europe and Asia Pacific. These operating segments are aggregated for reporting purposes as they have common economic characteristics, produce and sell a similar range of products, use a similar distribution process and have a similar customer base. Delivery Systems consists of only one operating segment. We evaluate the performance of our segments based upon, among other things, segment net sales and operating profit. Segment operating profit excludes general corporate costs, which include executive and director compensation, stock-based compensation, adjustments to annual incentive plan expense for over- or under-attainment of targets, certain pension and other retirement benefit costs, and other corporate facilities and administrative expenses not allocated to the segments. Also excluded are items that management considers not representative of ongoing operations. Such items are referred to as other unallocated items and generally include restructuring and related charges, certain asset impairments and other specifically-identified income or expense items. Corporate assets include pension assets and investments in affiliated companies. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The following table provides information on sales by significant product group:
($ in millions) | 2014 |  | 2013 |  | 2012 |
Packaging Systems | $ | 1,019.7 |  | $ | 996.0 |  | $ | 915.1 |
Proprietary products | 105.4 |  | 92.7 |  | 77.0 |
Contract manufacturing | 297.1 |  | 281.4 |  | 275.1 |
Delivery Systems | 402.5 |  | 374.1 |  | 352.1 |
Intersegment sales elimination | (0.8 | ) | (1.7 | ) | (0.8 | )
Net sales | $ | 1,421.4 |  | $ | 1,368.4 |  | $ | 1,266.4 |
The intersegment sales elimination, which is required for the presentation of consolidated net sales, represents the elimination of components sold between our segments. We do not have any customers accounting for greater than 10% of consolidated net sales. The following table presents sales and net property, plant and equipment, by the country in which the legal subsidiary is domiciled and assets are located:
| Sales |  | Property, Plant and Equipment, Net
($ in millions) | 2014 |  | 2013 |  | 2012 |  |  | 2014 |  | 2013 |  | 2012 |
United States | $ | 655.5 |  | $ | 614.5 |  | $ | 592.8 |  |  | $ | 339.4 |  | $ | 336.0 |  | $ | 322.0 |
Germany | 219.4 |  | 219.6 |  | 184.4 |  |  | 110.9 |  | 124.4 |  | 117.2 |
France | 118.2 |  | 112.6 |  | 102.6 |  |  | 40.4 |  | 43.4 |  | 42.1 |
Other European countries | 285.0 |  | 279.4 |  | 251.4 |  |  | 91.5 |  | 83.2 |  | 72.3 |
Other | 143.3 |  | 142.3 |  | 135.2 |  |  | 123.6 |  | 124.7 |  | 115.4 |
| $ | 1,421.4 |  | $ | 1,368.4 |  | $ | 1,266.4 |  |  | $ | 705.8 |  | $ | 711.7 |  | $ | 669.0 |
The following tables provide summarized financial information for our segments:
($ in millions) | Packaging Systems | Delivery Systems | Corporate and Eliminations | Consolidated
2014 |  |  |  |
Net sales | $ | 1,019.7 |  | $ | 402.5 |  | $ | (0.8 | ) | $ | 1,421.4 |
Operating profit | $ | 223.0 |  | $ | 13.5 |  | $ | (54.5 | ) | $ | 182.0 |
Interest expense, net | — |  | — |  | (13.0 | ) | (13.0 | )
Income before income taxes | $ | 223.0 |  | $ | 13.5 |  | $ | (67.5 | ) | $ | 169.0 |
Segment assets | $ | 1,024.3 |  | $ | 405.1 |  | $ | 241.5 |  | $ | 1,670.9 |
Capital expenditures | 76.5 |  | 35.8 |  | (0.4 | ) | 111.9 |
Depreciation and amortization expense | 58.3 |  | 23.0 |  | 8.7 |  | 90.0 |
2013 |  |  |  |
Net sales | $ | 996.0 |  | $ | 374.1 |  | $ | (1.7 | ) | $ | 1,368.4 |
Operating profit | $ | 217.0 |  | $ | 9.4 |  | $ | (64.0 | ) | $ | 162.4 |
Loss on debt extinguishment | — |  | — |  | (0.2 | ) | (0.2 | )
Interest expense, net | — |  | — |  | (15.1 | ) | (15.1 | )
Income before income taxes | $ | 217.0 |  | $ | 9.4 |  | $ | (79.3 | ) | $ | 147.1 |
Segment assets | $ | 1,048.9 |  | $ | 429.3 |  | $ | 193.4 |  | $ | 1,671.6 |
Capital expenditures | 81.3 |  | 28.5 |  | 42.1 |  | 151.9 |
Depreciation and amortization expense | 55.5 |  | 20.9 |  | 8.8 |  | 85.2 |
2012 |  |  |  |
Net sales | $ | 915.1 |  | $ | 352.1 |  | $ | (0.8 | ) | $ | 1,266.4 |
Operating profit | $ | 187.5 |  | $ | 18.4 |  | $ | (70.8 | ) | $ | 135.1 |
Loss on debt extinguishment | — |  | — |  | (11.6 | ) | (11.6 | )
Interest expense, net | — |  | — |  | (14.9 | ) | (14.9 | )
Income before income taxes | $ | 187.5 |  | $ | 18.4 |  | $ | (97.3 | ) | $ | 108.6 |
Segment assets | $ | 942.7 |  | $ | 389.3 |  | $ | 232.0 |  | $ | 1,564.0 |
Capital expenditures | 74.3 |  | 24.5 |  | 32.5 |  | 131.3 |
Depreciation and amortization expense | 52.7 |  | 18.4 |  | 5.8 |  | 76.9 |
During 2014, we recognized a pre-tax loss on debt extinguishment of less than $0.1 million, in connection with repurchases of our Convertible Debentures. We recognized a pre-tax loss on debt extinguishment of $0.2 million and $11.6 million, during 2013 and 2012 respectively, in connection with similar repurchases. Refer to Note 8, Debt, for additional details.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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