XML 60 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2012
SEGMENT INFORMATION  
SEGMENT INFORMATION

 

 

NOTE 9 – SEGMENT INFORMATION

 

The Company operates in the packaging components industry, which includes the development, manufacture and sale of consumer product dispensing systems.  The Company is organized into three reporting segments.  Operations that sell dispensing systems primarily to the personal care, fragrance/cosmetic and home care markets form the Beauty + Home segment.  Operations that sell dispensing systems primarily to the prescription drug and consumer health care markets form the Pharma segment.  Operations that sell dispensing systems primarily to the food and beverage markets form the Food + Beverage segment.

The accounting policies of the segments are the same as those described in Note 1, Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.  The Company evaluates performance of its business segments and allocates resources based upon segment income.  Segment income is defined as earnings before interest expense in excess of interest income, certain corporate expenses and income taxes.

 

Financial information regarding the Company’s reportable segments is shown below:

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Total Revenue:

 

 

 

 

 

 

 

 

 

Beauty + Home

 

$

362,077

 

$

391,535

 

$

1,115,766

 

$

1,178,065

 

Pharma

 

156,044

 

146,521

 

429,278

 

417,793

 

Food + Beverage

 

75,245

 

68,101

 

226,751

 

211,350

 

Corporate & Other

 

—

 

40

 

—

 

122

 

Total Revenue

 

593,366

 

606,197

 

1,771,795

 

1,807,330

 

 

 

 

 

 

 

 

 

 

 

Less: Intersegment Sales:

 

 

 

 

 

 

 

 

 

Beauty + Home

 

$

3,601

 

$

4,034

 

$

10,855

 

$

11,564

 

Pharma

 

(56

)

76

 

156

 

641

 

Food + Beverage

 

223

 

851

 

1,185

 

2,360

 

Corporate & Other

 

—

 

40

 

—

 

122

 

Total Intersegment Sales

 

$

3,768

 

$

5,001

 

$

12,196

 

$

14,687

 

 

 

 

 

 

 

 

 

 

 

Net Sales:

 

 

 

 

 

 

 

 

 

Beauty + Home

 

$

358,476

 

$

387,501

 

$

1,104,911

 

$

1,166,501

 

Pharma

 

156,100

 

146,445

 

429,122

 

417,152

 

Food + Beverage

 

75,022

 

67,250

 

225,566

 

208,990

 

Corporate & Other

 

—

 

—

 

—

 

—

 

Net Sales

 

$

589,598

 

$

601,196

 

$

1,759,599

 

$

1,792,643

 

 

 

 

 

 

 

 

 

 

 

Segment Income:

 

 

 

 

 

 

 

 

 

Beauty + Home

 

$

30,050

 

$

32,025

 

$

96,674

 

$

104,555

 

Pharma

 

34,194

 

44,801

 

104,676

 

124,058

 

Food + Beverage

 

9,611

 

6,891

 

24,252

 

23,076

 

Corporate  & Other

 

(6,443

)

(9,964

)

(22,048

)

(28,634

)

Income before interest and taxes

 

$

67,412

 

$

73,753

 

$

203,554

 

$

223,055

 

Interest expense, net

 

(4,386

)

(2,515

)

(11,710

)

(8,646

)

Income before income taxes

 

$

63,026

 

$

71,238

 

$

191,844

 

$

214,409