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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Financial information regarding the company's reportable segments | Financial information regarding our reporting segments is shown below:
Year Ended December 31, | 2022 |  | 2021 |  | 2020
Total Sales: |  |  |  |  |
Pharma | $ | 1,372,449 |  |  | $ | 1,297,996 |  |  | $ | 1,234,107 |
Beauty + Home | 1,461,894 |  |  | 1,456,208 |  |  | 1,320,988 |
Food + Beverage | 523,643 |  |  | 511,112 |  |  | 407,435 |
Total Sales | $ | 3,357,986 |  |  | $ | 3,265,316 |  |  | $ | 2,962,530 |
Less: Intersegment Sales: |  |  |  |  |
Pharma | $ | 11,193 |  |  | $ | 13,372 |  |  | $ | 8,328 |
Beauty + Home | 23,360 |  |  | 22,186 |  |  | 22,837 |
Food + Beverage | 1,184 |  |  | 2,537 |  |  | 2,025 |
Total Intersegment Sales | $ | 35,737 |  |  | $ | 38,095 |  |  | $ | 33,190 |
Net Sales: |  |  |  |  |
Pharma | $ | 1,361,256 |  |  | $ | 1,284,624 |  |  | $ | 1,225,779 |
Beauty + Home | 1,438,534 |  |  | 1,434,022 |  |  | 1,298,151 |
Food + Beverage | 522,459 |  |  | 508,575 |  |  | 405,410 |
Net Sales | $ | 3,322,249 |  |  | $ | 3,227,221 |  |  | $ | 2,929,340 |
Adjusted EBITDA (1): |  |  |  |  |
Pharma | $ | 441,622 |  |  | $ | 425,714 |  |  | $ | 428,469 |
Beauty + Home | 166,465 |  |  | 154,689 |  |  | 129,299 |
Food + Beverage | 71,531 |  |  | 79,377 |  |  | 71,995 |
Corporate & Other, unallocated | (62,930) |  |  | (52,314) |  |  | (43,443) |
Acquisition-related costs (2) | (231) |  |  | (3,811) |  |  | (6,087) |
Restructuring Initiatives (3) | (6,597) |  |  | (23,240) |  |  | (26,492) |
Net unrealized investment (loss) gain (4) | (3,323) |  |  | 2,709 |  |  | — |
Depreciation and amortization (5) | (233,706) |  |  | (234,853) |  |  | (220,300) |
Interest Expense | (40,827) |  |  | (30,284) |  |  | (33,244) |
Interest Income | 2,700 |  |  | 3,668 |  |  | 958 |
Income before Income Taxes | $ | 334,704 |  |  | $ | 321,655 |  |  | $ | 301,155 |
Depreciation and Amortization: |  |  |  |  |
Pharma | $ | 94,396 |  |  | $ | 90,510 |  |  | $ | 75,874 |
Beauty + Home | 93,027 |  |  | 96,611 |  |  | 95,880 |
Food + Beverage | 40,337 |  |  | 40,323 |  |  | 37,768 |
Corporate & Other | 5,946 |  |  | 7,409 |  |  | 10,778 |
Depreciation and Amortization | $ | 233,706 |  |  | $ | 234,853 |  |  | $ | 220,300 |
Capital Expenditures: |  |  |  |  |
Pharma | $ | 164,396 |  |  | $ | 154,077 |  |  | $ | 117,835 |
Beauty + Home | 86,048 |  |  | 100,531 |  |  | 93,980 |
Food + Beverage | 32,378 |  |  | 34,136 |  |  | 29,956 |
Corporate & Other | 29,491 |  |  | 29,686 |  |  | 15,690 |
Transfer of Corporate Technology Expenditures (6) | (1,886) |  |  | (10,495) |  |  | (11,507) |
Capital Expenditures | $ | 310,427 |  |  | $ | 307,935 |  |  | $ | 245,954 |
Total Assets: |  |  |  |  |
Pharma | $ | 1,872,843 |  |  | $ | 1,833,512 |  |  | $ | 1,549,781 |
Beauty + Home | 1,625,596 |  |  | 1,615,917 |  |  | 1,610,058 |
Food + Beverage | 552,871 |  |  | 574,269 |  |  | 549,270 |
Corporate & Other | 152,148 |  |  | 117,666 |  |  | 280,944 |
Total Assets | $ | 4,203,458 |  |  | $ | 4,141,364 |  |  | $ | 3,990,053 |
(1)We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, net unrealized investment gains and losses related to observable market price changes on equity securities and other special items. (2)Acquisition-related costs include transaction costs and purchase accounting adjustments related to acquisitions and investments (see Note 19 – Acquisitions and Note 20 – Investment in Equity Securities for further details). (3)Restructuring Initiatives includes expense items for the years ended December 31, 2022, 2021 and 2020 as follows (see Note 21 – Restructuring Initiatives for further details):
Year Ended December 31, | 2022 |  | 2021 |  | 2020
Restructuring Initiatives by Segment |  |  |  |  |
Pharma | $ | — |  |  | $ | 76 |  |  | $ | 220 |
Beauty + Home | 6,460 |  |  | 10,447 |  |  | 24,464 |
Food + Beverage | 137 |  |  | 404 |  |  | 1,903 |
Corporate & Other | — |  |  | 12,313 |  |  | (95) |
Total Restructuring Initiatives | $ | 6,597 |  |  | $ | 23,240 |  |  | $ | 26,492 |
(4)Net unrealized investment (loss) gain represents the change in fair value of our investment in PCT (see Note 20 - Investment in Equity Securities for further details). (5)Depreciation and amortization includes amortization related to acquisition purchase accounting adjustments. See the reconciliation of Non-U.S. GAAP measures. (6)The transfer of corporate technology expenditures represents amounts of projects managed by corporate for the benefit of specific entities within each segment. Once the projects are complete, all related costs are allocated from corporate to and paid by the appropriate entity and the associated assets are then depreciated at the entity level.
Restructuring Initiatives | Restructuring Initiatives includes expense items for the years ended December 31, 2022, 2021 and 2020 as follows (see Note 21 – Restructuring Initiatives for further details):
Year Ended December 31, | 2022 |  | 2021 |  | 2020
Restructuring Initiatives by Segment |  |  |  |  |
Pharma | $ | — |  |  | $ | 76 |  |  | $ | 220 |
Beauty + Home | 6,460 |  |  | 10,447 |  |  | 24,464 |
Food + Beverage | 137 |  |  | 404 |  |  | 1,903 |
Corporate & Other | — |  |  | 12,313 |  |  | (95) |
Total Restructuring Initiatives | $ | 6,597 |  |  | $ | 23,240 |  |  | $ | 26,492 |
Schedule of net sales and long-lived asset information by geographic area | The following are net sales and long-lived asset information by geographic area and product information for the years ended December 31, 2022, 2021 and 2020:
| 2022 |  | 2021 |  | 2020
Net Sales to Unaffiliated Customers (1): |  |  |  |  |
United States | $ | 1,100,159 |  |  | $ | 1,081,823 |  |  | $ | 965,986 |
Europe: |  |  |  |  |
France | 938,637 |  |  | 906,057 |  |  | 854,639 |
Germany | 512,709 |  |  | 486,928 |  |  | 448,405 |
Italy | 154,823 |  |  | 161,676 |  |  | 148,636 |
Other Europe | 167,226 |  |  | 170,521 |  |  | 152,376 |
Total Europe | 1,773,395 |  |  | 1,725,182 |  |  | 1,604,056 |
China | 156,577 |  |  | 148,671 |  |  | 118,791 |
Other Foreign Countries | 292,118 |  |  | 271,545 |  |  | 240,507 |
Total | $ | 3,322,249 |  |  | $ | 3,227,221 |  |  | $ | 2,929,340 |
Property, Plant and Equipment, Net |  |  |  |  |
United States | $ | 346,382 |  |  | $ | 321,511 |  |  | $ | 298,616 |
Europe: |  |  |  |  |
France | 482,091 |  |  | 455,105 |  |  | 426,353 |
Germany | 194,898 |  |  | 197,643 |  |  | 194,553 |
Italy | 42,522 |  |  | 50,828 |  |  | 57,333 |
Other Europe | 53,317 |  |  | 58,121 |  |  | 55,933 |
Total Europe | 772,828 |  |  | 761,697 |  |  | 734,172 |
China | 98,469 |  |  | 74,535 |  |  | 46,005 |
Other Foreign Countries | 125,985 |  |  | 118,134 |  |  | 119,955 |
Total | $ | 1,343,664 |  |  | $ | 1,275,877 |  |  | $ | 1,198,748 |
(1)Sales are attributed to countries based upon where the sales invoice to unaffiliated customers is generated.

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References No definition available. + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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