Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2014

Reportable business segment information for the three and six months ended June 30 was as follows:



	Metal Containers		Closures		Plastic Containers		Corporate			Total
	(Dollars in thousands)
Three Months Ended June 30, 2014
Net sales	$	518,684	$	232,232	$	166,420	$	—		$	917,336
Depreciation and amortization⁽¹⁾	17,192		10,748		9,073		32			37,045
Rationalization charges	—		862		—		—			862
Segment income from operations⁽²⁾	50,900		25,228		12,974		(3,022		)	86,080

Three Months Ended June 30, 2013
Net sales	$	531,172	$	181,445	$	167,412	$	—		$	880,029
Depreciation and amortization⁽¹⁾	21,519		8,225		11,106		34			40,884
Rationalization charges	333		245		355		—			933
Segment income from operations⁽²⁾	45,735		21,682		11,468		(3,980		)	74,905

Six Months Ended June 30, 2014
Net sales	$	987,089	$	446,029	$	340,064	$	—		$	1,773,182
Depreciation and amortization⁽¹⁾	34,571		21,552		18,208		63			74,394
Rationalization charges	—		1,487		962		—			2,449
Segment income from operations⁽²⁾	91,353		42,993		25,818		(6,074		)	154,090

Six Months Ended June 30, 2013
Net sales	$	994,932	$	342,587	$	338,251	$	—		$	1,675,770
Depreciation and amortization⁽¹⁾	43,527		16,552		23,260		67			83,406
Rationalization charges	1,383		245		656		—			2,284
Segment income from operations⁽²⁾⁽³⁾	85,297		32,313		21,874		(6,455		)	133,029

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⁽¹⁾	Depreciation and amortization excludes amortization of debt issuance costs of $1.1 million in each of the three months ended June 30, 2014 and 2013 and $2.1 million and $2.2 million for the six months ended June 30, 2014 and 2013, respectively.

⁽²⁾

Income from operations of the closures segment includes losses from operations in Venezuela of $2.9 million and $1.1 million for the three months ended June 30, 2014 and 2013, respectively, and losses of $3.4 million and $5.4 million for the six months ended June 30, 2014 and 2013, respectively, which for the six months ended June 30, 2013 includes a charge of $3.0 million for the remeasurement of net assets in Venezuela due to the devaluation of the official Bolivar exchange rate.


⁽³⁾	Income from operations of the metal containers segment includes plant start-up costs of $0.8 million for the six months ended June 30, 2013.

Reconciliation of Segment Income from Operations to Income before Income Taxes

Total segment income from operations is reconciled to income before income taxes as follows:



	Three Months Ended				Six Months Ended
	June 30, 2014		June 30, 2013		June 30, 2014		June 30, 2013
	(Dollars in thousands)
Total segment income from operations	$	86,080	$	74,905	$	154,090	$	133,029
Interest and other debt expense	18,958		15,445		39,118		32,862
Income before income taxes	$	67,122	$	59,460	$	114,972	$	100,167

- 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.

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