XML 43 R26.htm IDEA: XBRL DOCUMENT
v3.22.0.1

BUSINESS SEGMENT INFORMATION | 12 Months Ended
--- | ---
Dec. 31, 2021
Segment Reporting [Abstract] |
BUSINESS SEGMENT INFORMATION | BUSINESS SEGMENT INFORMATION We are engaged in the packaging industry and report our results in three segments, which are our reportable segments: dispensing and specialty closures; metal containers; and custom containers. The dispensing and specialty closures segment manufactures an extensive range of dispensing systems and specialty closures for food, beverage, health care, garden, home, personal care, fragrance and beauty products. The metal containers segment manufactures steel and aluminum containers for human and pet food and general line products. The custom containers segment manufactures custom designed plastic containers for personal care, food, health care, pharmaceutical, household and industrial chemical, pet food and care, agricultural, automotive and marine chemical products. These segments are strategic business operations that are managed separately to maximize the production, technology and marketing of their packaging product. Our dispensing and specialty closures segment operates in North and South America, Europe and Asia. Our metal containers segment operates primarily in North America and Europe. Our custom containers segment operates in North America. The accounting policies of the business segments are the same as those described in Note 1. Information for each of the past three years for our business segments is as follows:
| Dispensing and Specialty Closures |  | Metal Containers |  | Custom Containers |  | Corporate |  | Total
| (Dollars in thousands)
2021 |  |  |  |  |  |  |  |  |
Net sales | $ | 2,160,484 |  |  | $ | 2,808,065 |  |  | $ | 708,556 |  |  | $ | — |  |  | $ | 5,677,105 |
Depreciation and amortization | 125,640 |  |  | 85,499 |  |  | 39,064 |  |  | 157 |  |  | 250,360 |
Rationalization charges | 5,806 |  |  | 8,873 |  |  | 331 |  |  | — |  |  | 15,010 |
Segment income (1) | 262,148 |  |  | 253,736 |  |  | 92,359 |  |  | (32,130) |  |  | 576,113 |
Segment assets | 4,429,186 |  |  | 2,319,982 |  |  | 888,715 |  |  | 34,490 |  |  | 7,672,373 |
Capital expenditures | 113,601 |  |  | 78,462 |  |  | 40,196 |  |  | 5 |  |  | 232,264 |
2020 |  |  |  |  |  |  |  |  |
Net sales | $ | 1,712,433 |  |  | $ | 2,557,980 |  |  | $ | 651,530 |  |  | $ | — |  |  | $ | 4,921,943 |
Depreciation and amortization | 99,062 |  |  | 82,404 |  |  | 37,473 |  |  | 159 |  |  | 219,098 |
Rationalization charges | 5,759 |  |  | 9,905 |  |  | 367 |  |  | — |  |  | 16,031 |
Segment income (1) | 224,374 |  |  | 246,628 |  |  | 87,810 |  |  | (46,426) |  |  | 512,386 |
Segment assets | 3,617,969 |  |  | 1,973,933 |  |  | 814,303 |  |  | 35,214 |  |  | 6,441,419 |
Capital expenditures | 91,291 |  |  | 80,701 |  |  | 52,151 |  |  | 34 |  |  | 224,177 |
2019 |  |  |  |  |  |  |  |  |
Net sales | $ | 1,405,611 |  |  | $ | 2,473,214 |  |  | $ | 611,102 |  |  | $ | — |  |  | $ | 4,489,927 |
Depreciation and amortization | 83,133 |  |  | 86,114 |  |  | 37,077 |  |  | 159 |  |  | 206,483 |
Rationalization charges | 6,562 |  |  | 49,425 |  |  | 364 |  |  | — |  |  | 56,351 |
Segment income | 173,485 |  |  | 159,980 |  |  | 48,915 |  |  | (22,894) |  |  | 359,486 |
Segment assets | 2,263,131 |  |  | 1,853,875 |  |  | 722,848 |  |  | 35,474 |  |  | 4,875,328 |
Capital expenditures | 95,153 |  |  | 102,832 |  |  | 32,928 |  |  | 31 |  |  | 230,944 |
______________________ (1) Corporate includes costs attributed to announced acquisitions of $5.0 million and $19.3 million in 2021 and 2020, respectively. Total segment income is reconciled to income before income taxes as follows:
| 2021 |  | 2020 |  | 2019
| (Dollars in thousands)
Total segment income | $ | 576,113 |  |  | $ | 512,386 |  |  | $ | 359,486 |
Interest and other debt expense | 109,800 |  |  | 105,308 |  |  | 107,350 |
Income before income taxes | $ | 466,313 |  |  | $ | 407,078 |  |  | $ | 252,136 |
Total segment assets at December 31 are reconciled to total assets as follows:
| 2021 |  | 2020
| (Dollars in thousands)
Total segment assets | $ | 7,672,373 |  |  | $ | 6,441,419 |
Other assets | 98,473 |  |  | 70,167 |
Total assets | $ | 7,770,846 |  |  | $ | 6,511,586 |
Financial information relating to our operations by geographic area is as follows:
| 2021 |  | 2020 |  | 2019
| (Dollars in thousands)
Net sales: |  |  |  |  |
United States | $ | 4,131,375 |  |  | $ | 3,650,953 |  |  | $ | 3,418,848 |
Foreign: |  |  |  |  |
Europe | 1,166,557 |  |  | 953,695 |  |  | 818,032 |
Other | 379,173 |  |  | 317,295 |  |  | 253,047 |
Total net sales from foreign operations | 1,545,730 |  |  | 1,270,990 |  |  | 1,071,079 |
Total net sales | $ | 5,677,105 |  |  | $ | 4,921,943 |  |  | $ | 4,489,927 |
Long-lived assets: |  |  |  |  |
United States | $ | 1,286,167 |  |  | $ | 1,121,596 |  |  |
Foreign: |  |  |  |  |
Europe | 536,401 |  |  | 551,365 |  |  |
Other | 171,309 |  |  | 167,797 |  |  |
Total long-lived assets at foreign operations | 707,710 |  |  | 719,162 |  |  |
Total long-lived assets | $ | 1,993,877 |  |  | $ | 1,840,758 |  |  |
Net sales are attributed to the country from which the product was manufactured and shipped. Sales of our metal containers segment to Nestlé Food Company accounted for 10.7 percent, 10.5 percent and 11.1 percent of our consolidated net sales in 2021, 2020 and 2019, respectively. Sales and income from operations of our metal containers segment and of part of our dispensing and specialty closures segment are dependent, in part, upon the vegetable and fruit harvests in the United States and, to a lesser extent, in a variety of national growing regions in Europe. 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
- References No definition available. + 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration