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v3.22.1

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2022
Segment Reporting [Abstract] |
Reportable Operating Segment Information | Reportable segment information for the three months ended March 31 was as follows:
| Dispensing and Specialty Closures |  | Metal Containers |  | Custom Containers |  | Corporate |  | Total
| (Dollars in thousands)
Three Months Ended March 31, 2022 |  |  |  |  |  |  |  |  |
Net sales | $ | 597,927 |  |  | $ | 650,726 |  |  | $ | 193,233 |  |  | $ | — |  |  | $ | 1,441,886 |
Depreciation and amortization(1) | 36,619 |  |  | 21,064 |  |  | 9,883 |  |  | 42 |  |  | 67,608 |
Rationalization charges | — |  |  | 1,274 |  |  | 105 |  |  | — |  |  | 1,379 |
Segment income | 87,313 |  |  | 38,009 |  |  | 24,694 |  |  | (6,624) |  |  | 143,392 |
Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |
Net sales | $ | 509,352 |  |  | $ | 554,081 |  |  | $ | 174,677 |  |  | $ | — |  |  | $ | 1,238,110 |
Depreciation and amortization(1) | 28,890 |  |  | 21,249 |  |  | 9,373 |  |  | 39 |  |  | 59,551 |
Rationalization charges | 5,231 |  |  | 5,021 |  |  | 105 |  |  | — |  |  | 10,357 |
Segment income | 65,645 |  |  | 45,614 |  |  | 24,486 |  |  | (9,196) |  |  | 126,549 |
_____________ (1)Depreciation and amortization excludes amortization of debt discount and debt issuance costs of $1.5 million and $1.3 million for the three months ended March 31, 2022 and 2021, respectively.
Reconciliation of Segment Income from Operations to Income before Income Taxes | Total segment income is reconciled to income before income taxes for the three months ended March 31 as follows:
|  | 2022 |  | 2021 |  |  |  |
|  | (Dollars in thousands)
Total segment income |  | $ | 143,392 |  |  | $ | 126,549 |  |  |  |  |
Interest and other debt expense |  | 30,830 |  |  | 27,306 |  |  |  |  |
Income before income taxes |  | $ | 112,562 |  |  | $ | 99,243 |  |  |  |  |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + 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 http://asc.fasb.org/extlink&oid=123359005&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 http://asc.fasb.org/extlink&oid=123359005&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 http://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 http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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