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SEGMENT INFORMATION | 9 Months Ended
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Sep. 30, 2015
SEGMENT INFORMATION |
SEGMENT INFORMATION | NOTE 14 – SEGMENT INFORMATION The Company operates in the packaging components industry, which includes the development, manufacture and sale of consumer product dispensing solutions. The Company is organized into three reporting segments. Operations that sell dispensing systems primarily to the personal care, beauty and home care markets form the Beauty + Home segment. Operations that sell dispensing systems primarily to the prescription drug, consumer health care and injectables 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, 2014. Financial information regarding the Company’s reportable segments is shown below:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Total Revenue: |  |  |  |  |  |  |  |  |
Beauty + Home |  | $ | 326,967 |  | $ | 384,604 |  | $ | 986,502 |  | $ | 1,174,359 |
Pharma |  | 175,427 |  | 179,191 |  | 537,396 |  | 569,230 |
Food + Beverage |  | 89,724 |  | 94,118 |  | 263,767 |  | 274,936 |
Total Revenue |  | 592,118 |  | 657,913 |  | 1,787,665 |  | 2,018,525 |
Less: Intersegment Sales: |  |  |  |  |  |  |  |  |
Beauty + Home |  | $ | 5,329 |  | $ | 5,699 |  | $ | 16,326 |  | $ | 18,992 |
Pharma |  | -- |  | -- |  | -- |  | -- |
Food + Beverage |  | 499 |  | 272 |  | 963 |  | 909 |
Total Intersegment Sales |  | $ | 5,828 |  | $ | 6,466 |  | $ | 17,289 |  | $ | 19,901 |
Net Sales: |  |  |  |  |  |  |  |  |
Beauty + Home |  | $ | 321,638 |  | $ | 378,905 |  | $ | 970,176 |  | $ | 1,155,367 |
Pharma |  | 175,427 |  | 179,191 |  | 537,396 |  | 569,230 |
Food + Beverage |  | 89,225 |  | 93,846 |  | 262,804 |  | 274,027 |
Net Sales |  | $ | 586,290 |  | $ | 651,942 |  | $ | 1,770,376 |  | $ | 1,998,624 |
Segment Income (1): |  |  |  |  |  |  |  |  |
Beauty + Home |  | $ | 27,961 |  | $ | 25,399 |  | $ | 78,529 |  | $ | 80,378 |
Pharma |  | 52,941 |  | 49,314 |  | 160,404 |  | 154,589 |
Food + Beverage |  | 13,236 |  | 11,713 |  | 37,277 |  | 33,209 |
Corporate & Other |  | (7,575 | ) | (8,364 | ) | (22,535 | ) | (28,664 | )
Income before interest and taxes |  | $ | 86,563 |  | $ | 78,062 |  | $ | 253,675 |  | $ | 239,512 |
Interest expense, net |  | (7,186 | ) | (3,946 | ) | (20,848 | ) | (12,010 | )
Income before income taxes |  | $ | 79,377 |  | $ | 74,116 |  | $ | 232,827 |  | $ | 227,502 |
| (1) |  | The Company evaluates performance of our business units and allocates resources based upon segment income. Segment income is defined as earnings before net interest expense, certain corporate expenses and income taxes.

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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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 2: 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 3: 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 4: 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 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 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 7: 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 8: 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 9: 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 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 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 12: 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 13: 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 14: 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 + Details
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