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Segment Information | 3 Months Ended
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Mar. 31, 2020
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 and other 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. The Chief Operating Decision Maker (“CODM”) evaluates 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 the CODM 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. The following table presents information about our reportable segments, reconciled to consolidated totals:
| Three Months Ended March 31, |  |  |  |  |  |
($ in millions) | 2020 |  | 2019 |  |  |  |
Net sales: |  |  |  |  |  |  |
Proprietary Products | $ | 373.5 |  |  | $ | 340.4 |  |  |  |  |
Contract-Manufactured Products | 118.1 |  |  | 103.1 |  |  |  |  |
Intersegment sales elimination | (0.1) |  |  | — |  |  |  |  |
Consolidated net sales | $ | 491.5 |  |  | $ | 443.5 |  |  |  |  |
Operating profit (loss): |  |  |  |  |  |  |
Proprietary Products | $ | 93.2 |  |  | $ | 77.0 |  |  |  |  |
Contract-Manufactured Products | 12.8 |  |  | 10.5 |  |  |  |  |
Corporate | (18.0) |  |  | (16.2) |  |  |  |  |
Other unallocated items | — |  |  | (0.6) |  |  |  |  |
Total operating profit | $ | 88.0 |  |  | $ | 70.7 |  |  |  |  |
Interest expense | 2.0 |  |  | 2.3 |  |  |  |  |
Interest income | (0.8) |  |  | (0.9) |  |  |  |  |
Other nonoperating expense (income) | 0.3 |  |  | (0.6) |  |  |  |  |
Income before income taxes | $ | 86.5 |  |  | $ | 69.9 |  |  |  |  |
The intersegment sales elimination, which is required for the presentation of consolidated net sales, represents the elimination of components sold between our segments. Other unallocated items during the three months ended March 31, 2019 consisted of $0.6 million in restructuring and related charges. Please refer to Note 15, Other Income, for further discussion of these items.

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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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