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Segment Information | 12 Months Ended
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Dec. 31, 2018
Segment Reporting [Abstract] |
Segment Information | Segment Information Our business operations are organized into two reportable segments, Proprietary Products and Contract-Manufactured Products. Our Proprietary Products reportable segment offers proprietary packaging, containment and drug delivery products, along with analytical lab services, to biologic, generic and pharmaceutical drug customers. Our Contract-Manufactured Products reportable segment serves as a fully integrated business, focused on the design, manufacture, and automated assembly of complex devices, primarily for pharmaceutical, diagnostic, and medical device customers. 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 we consider 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. The following table presents information about our reportable segments, reconciled to consolidated totals:
($ in millions) | 2018 |  | 2017 |  | 2016
Net sales: |  |  |  |  |
Proprietary Products | $ | 1,308.6 |  |  | $ | 1,236.9 |  |  | $ | 1,189.9 |
Contract-Manufactured Products | 409.1 |  |  | 362.5 |  |  | 320.2 |
Intersegment sales elimination | (0.3 | ) |  | (0.3 | ) |  | (1.0 | )
Consolidated net sales | $ | 1,717.4 |  |  | $ | 1,599.1 |  |  | $ | 1,509.1 |
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 net sales and property, plant and equipment, net, by the country in which the legal subsidiary is domiciled and assets are located:
| Net Sales |  | Property, Plant and Equipment, Net
($ in millions) | 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016
United States | $ | 766.1 |  |  | $ | 734.6 |  |  | $ | 738.3 |  |  | $ | 315.3 |  |  | $ | 323.8 |  |  | $ | 329.3 |
Germany | 235.9 |  |  | 226.4 |  |  | 200.6 |  |  | 99.3 |  |  | 108.8 |  |  | 96.8 |
France | 127.5 |  |  | 125.6 |  |  | 116.3 |  |  | 42.5 |  |  | 43.1 |  |  | 37.1 |
Other European countries | 386.1 |  |  | 318.5 |  |  | 268.3 |  |  | 232.5 |  |  | 244.9 |  |  | 192.3 |
Other | 201.8 |  |  | 194.0 |  |  | 185.6 |  |  | 132.4 |  |  | 134.4 |  |  | 122.8 |
| $ | 1,717.4 |  |  | $ | 1,599.1 |  |  | $ | 1,509.1 |  |  | $ | 822.0 |  |  | $ | 855.0 |  |  | $ | 778.3 |
The following tables provide summarized financial information for our segments:
($ in millions) | Proprietary Products |  | Contract-Manufactured Products |  | Corporate and Elimination |  | Consolidated
2018 |  |  |  |  |  |  |
Net sales | $ | 1,308.6 |  |  | $ | 409.1 |  |  | $ | (0.3 | ) |  | $ | 1,717.4 |
Operating profit | $ | 266.4 |  |  | $ | 44.3 |  |  | $ | (70.4 | ) |  | $ | 240.3 |
Interest expense | — |  |  | — |  |  | 8.4 |  |  | 8.4 |
Interest income | — |  |  | — |  |  | (2.1 | ) |  | (2.1 | )
Other nonoperating income | — |  |  | — |  |  | (6.7 | ) |  | (6.7 | )
Income before income taxes | $ | 266.4 |  |  | $ | 44.3 |  |  | $ | (70.0 | ) |  | $ | 240.7 |
Segment assets | $ | 1,342.3 |  |  | $ | 301.4 |  |  | $ | 335.2 |  |  | $ | 1,978.9 |
Capital expenditures | 77.0 |  |  | 20.7 |  |  | 7.0 |  |  | 104.7 |
Depreciation and amortization expense | 83.9 |  |  | 17.2 |  |  | 3.3 |  |  | 104.4 |
2017 |  |  |  |  |  |  |
Net sales | $ | 1,236.9 |  |  | $ | 362.5 |  |  | $ | (0.3 | ) |  | $ | 1,599.1 |
Operating profit | $ | 243.8 |  |  | $ | 48.3 |  |  | $ | (66.3 | ) |  | $ | 225.8 |
Interest expense | — |  |  | — |  |  | 7.8 |  |  | 7.8 |
Interest income | — |  |  | — |  |  | (1.3 | ) |  | (1.3 | )
Other nonoperating income | — |  |  | — |  |  | (3.1 | ) |  | (3.1 | )
Income before income taxes | $ | 243.8 |  |  | $ | 48.3 |  |  | $ | (69.7 | ) |  | $ | 222.4 |
Segment assets | $ | 1,321.3 |  |  | $ | 286.4 |  |  | $ | 255.1 |  |  | $ | 1,862.8 |
Capital expenditures | 107.2 |  |  | 18.6 |  |  | 5.0 |  |  | 130.8 |
Depreciation and amortization expense | 77.1 |  |  | 16.4 |  |  | 3.2 |  |  | 96.7 |
2016 |  |  |  |  |  |  |
Net sales | $ | 1,189.9 |  |  | $ | 320.2 |  |  | $ | (1.0 | ) |  | $ | 1,509.1 |
Operating profit | $ | 243.1 |  |  | $ | 38.2 |  |  | $ | (86.1 | ) |  | $ | 195.2 |
Interest expense | — |  |  | — |  |  | 8.1 |  |  | 8.1 |
Interest income | — |  |  | — |  |  | (1.1 | ) |  | (1.1 | )
Other nonoperating income | — |  |  | — |  |  | (1.6 | ) |  | (1.6 | )
Income before income taxes | $ | 243.1 |  |  | $ | 38.2 |  |  | $ | (91.5 | ) |  | $ | 189.8 |
Segment assets | $ | 1,173.9 |  |  | $ | 261.1 |  |  | $ | 281.7 |  |  | $ | 1,716.7 |
Capital expenditures | 133.2 |  |  | 34.0 |  |  | 3.0 |  |  | 170.2 |
Depreciation and amortization expense | 71.7 |  |  | 14.9 |  |  | 4.1 |  |  | 90.7 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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