XML 39 R18.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Business Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2014
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information Reportable business segment information for the three and nine months ended September 30 was as follows:
| Metal Containers |  | Closures |  | Plastic Containers |  | Corporate |  | Total
| (Dollars in thousands)
Three Months Ended September 30, 2014 |  |  |  |  |  |  |  |  |
Net sales | $ | 827,675 |  |  | $ | 241,021 |  |  | $ | 159,748 |  |  | $ | — |  |  | $ | 1,228,444 |
Depreciation and amortization(1) | 17,550 |  |  | 9,930 |  |  | 9,146 |  |  | 32 |  |  | 36,658 |
Rationalization charges | — |  |  | 1,218 |  |  | 1,310 |  |  | — |  |  | 2,528 |
Segment income from operations(2)(3) | 112,229 |  |  | 27,645 |  |  | 13,129 |  |  | (5,368 | ) |  | 147,635 |
Three Months Ended September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 831,094 |  |  | $ | 185,249 |  |  | $ | 151,578 |  |  | $ | — |  |  | $ | 1,167,921 |
Depreciation and amortization(1) | 20,243 |  |  | 8,310 |  |  | 11,765 |  |  | 33 |  |  | 40,351 |
Rationalization charges | 344 |  |  | 988 |  |  | — |  |  | — |  |  | 1,332 |
Segment income from operations(2)(3) | 108,322 |  |  | 23,053 |  |  | 8,557 |  |  | (4,073 | ) |  | 135,859 |
Nine Months Ended September 30, 2014 |  |  |  |  |  |  |  |  |
Net sales | $ | 1,814,764 |  |  | $ | 687,050 |  |  | $ | 499,812 |  |  | $ | — |  |  | $ | 3,001,626 |
Depreciation and amortization(1) | 52,121 |  |  | 31,482 |  |  | 27,354 |  |  | 95 |  |  | 111,052 |
Rationalization charges | — |  |  | 2,706 |  |  | 2,272 |  |  | — |  |  | 4,978 |
Segment income from operations(2)(3) | 203,582 |  |  | 70,639 |  |  | 38,946 |  |  | (11,442 | ) |  | 301,725 |
Nine Months Ended September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,826,026 |  |  | $ | 527,835 |  |  | $ | 489,830 |  |  | $ | — |  |  | $ | 2,843,691 |
Depreciation and amortization(1) | 63,770 |  |  | 24,862 |  |  | 35,025 |  |  | 100 |  |  | 123,757 |
Rationalization charges | 1,727 |  |  | 1,233 |  |  | 656 |  |  | — |  |  | 3,616 |
Segment income from operations(2)(3)(4) | 193,619 |  |  | 55,367 |  |  | 30,431 |  |  | (10,529 | ) |  | 268,888 |
_____________
(1) | Depreciation and amortization excludes amortization of debt issuance costs of $1.0 million and $1.1 million for the three months ended September 30, 2014 and 2013, respectively, and $3.2 million and $3.3 million for the nine months ended September 30, 2014 and 2013, respectively.
(2) | Income from operations of the closures segment includes income from operations in Venezuela of $0.8 million and $0.1 million for the three months ended September 30, 2014 and 2013, respectively, and losses from operations in Venezuela of $2.6 million and $5.3 million for the nine months ended September 30, 2014 and 2013, respectively, which for the nine months ended September 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 for corporate includes acquisition costs attributable to announced acquisitions of $0.3 million and $1.0 million for the three months ended September 30, 2014 and 2013, respectively, and $0.5 million and $1.2 million for the nine months ended September 30, 2014 and 2013, respectively.
(4) | Income from operations of the metal containers segment includes plant start-up costs of $0.8 million for the nine months ended September 30, 2013.
Total segment income from operations is reconciled to income before income taxes as follows:
| Three Months Ended |  | Nine Months Ended
| Sept. 30, 2014 |  | Sept. 30, 2013 |  | Sept. 30, 2014 |  | Sept. 30, 2013
| (Dollars in thousands)
Total segment income from operations | $ | 147,635 |  |  | $ | 135,859 |  |  | $ | 301,725 |  |  | $ | 268,888 |
Interest and other debt expense | 19,276 |  |  | 16,982 |  |  | 58,394 |  |  | 49,844 |
Income before income taxes | $ | 128,359 |  |  | $ | 118,877 |  |  | $ | 243,331 |  |  | $ | 219,044 |
Sales and income from operations of our metal container business and part of our closures business are dependent, in part, upon fruit and vegetable harvests. The size and quality of these harvests varies from year to year, depending in large part upon the weather conditions in applicable regions. Because of the seasonality of the harvests, we have historically experienced higher unit sales volume in the third quarter of our fiscal year and generated a disproportionate amount of our annual income from operations during that quarter.

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: 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 3: 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 4: 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 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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: 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 8: 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 9: 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 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 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: 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 13: 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 14: 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 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration