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BUSINESS SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Reportable Business Segment Information | Reportable segment information for each of the past three years is as follows:
| Dispensing and Specialty Closures |  | Metal Containers |  | Custom Containers |  | Corporate |  | Total
| (Dollars in thousands)
2023 |  |  |  |  |  |  |  |  |
Net sales | $ | 2,221,430 |  |  | $ | 3,140,830 |  |  | $ | 625,945 |  |  | $ | — |  |  | $ | 5,988,205 |
Income before interest and income taxes | 281,030 |  |  | 287,380 |  |  | 52,836 |  |  | (25,810) |  |  | 595,436 |
Adjusted EBIT | 340,644 |  |  | 282,402 |  |  | 63,317 |  |  | (25,810) |  |  | 660,553 |
Depreciation | 101,664 |  |  | 73,558 |  |  | 34,846 |  |  | 74 |  |  | 210,142 |
Segment assets | 4,437,833 |  |  | 2,178,416 |  |  | 898,582 |  |  | 46,270 |  |  | 7,561,101 |
Capital expenditures | 110,073 |  |  | 95,260 |  |  | 20,474 |  |  | 1,003 |  |  | 226,810 |
2022 |  |  |  |  |  |  |  |  |
Net sales | $ | 2,316,690 |  |  | $ | 3,371,776 |  |  | $ | 723,033 |  |  | $ | — |  |  | $ | 6,411,499 |
Income before interest and income taxes | 323,001 |  |  | 234,156 |  |  | 92,478 |  |  | (47,673) |  |  | 601,962 |
Adjusted EBIT | 359,753 |  |  | 282,214 |  |  | 86,809 |  |  | (22,470) |  |  | 706,306 |
Depreciation | 98,214 |  |  | 76,537 |  |  | 35,325 |  |  | 159 |  |  | 210,235 |
Segment assets | 4,391,599 |  |  | 1,965,415 |  |  | 898,308 |  |  | 43,911 |  |  | 7,299,233 |
Capital expenditures | 105,759 |  |  | 81,533 |  |  | 28,462 |  |  | 7 |  |  | 215,761 |
2021 |  |  |  |  |  |  |  |  |
Net sales | $ | 2,160,484 |  |  | $ | 2,808,065 |  |  | $ | 708,556 |  |  | $ | — |  |  | $ | 5,677,105 |
Income before interest and income taxes | 262,148 |  |  | 253,736 |  |  | 92,359 |  |  | (32,130) |  |  | 576,113 |
Adjusted EBIT | 295,194 |  |  | 235,317 |  |  | 86,462 |  |  | (27,171) |  |  | 589,802 |
Depreciation | 87,375 |  |  | 83,756 |  |  | 34,499 |  |  | 157 |  |  | 205,787 |
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 |
Reconciliation of Income Before Income Taxes from Segment Income from Operations | Total adjusted EBIT is reconciled to income before income taxes as follows:
| 2023 |  | 2022 |  | 2021
| (Dollars in thousands)
Total adjusted EBIT | $ | 660,553 |  |  | $ | 706,306 |  |  | $ | 589,802 |
Less: |  |  |  |  |
Acquired intangible asset amortization expense | 53,091 |  |  | 52,553 |  |  | 44,573 |
Other pension expense (income) for U.S. pension plans | 3,614 |  |  | (47,494) |  |  | (53,469) |
Rationalization charges | 8,412 |  |  | 74,082 |  |  | 15,010 |
Purchase accounting write-up of inventory | — |  |  | — |  |  | 2,617 |
European Commission settlement | — |  |  | 25,203 |  |  | — |
Costs attributed to announced acquisitions | — |  |  | — |  |  | 4,958 |
Income before interest and income taxes | 595,436 |  |  | 601,962 |  |  | 576,113 |
Interest and other debt expense | 173,315 |  |  | 127,823 |  |  | 109,800 |
Income before income taxes | $ | 422,121 |  |  | $ | 474,139 |  |  | $ | 466,313 |
Reconciliation of Total Segment Assets to Total Assets | Total segment assets at December 31 are reconciled to total assets as follows:
| 2023 |  | 2022
| (Dollars in thousands)
Total segment assets | $ | 7,561,101 |  |  | $ | 7,299,233 |
Other assets | 50,135 |  |  | 46,524 |
Total assets | $ | 7,611,236 |  |  | $ | 7,345,757 |
Financial Information Relating to Operations by Geographic Area | Financial information relating to our operations by geographic area is as follows:
| 2023 |  | 2022 |  | 2021
| (Dollars in thousands)
Net sales: |  |  |  |  |
United States | $ | 4,377,928 |  |  | $ | 4,805,266 |  |  | $ | 4,131,375 |
Foreign: |  |  |  |  |
Europe | 1,201,534 |  |  | 1,299,616 |  |  | 1,166,557 |
Other | 408,743 |  |  | 306,617 |  |  | 379,173 |
Total net sales from foreign operations | 1,610,277 |  |  | 1,606,233 |  |  | 1,545,730 |
Total net sales | $ | 5,988,205 |  |  | $ | 6,411,499 |  |  | $ | 5,677,105 |
Long-lived assets: |  |  |  |  |
United States | $ | 1,258,531 |  |  | $ | 1,286,034 |  |  |
Foreign: |  |  |  |  |
Europe | 540,254 |  |  | 481,648 |  |  |
Other | 162,800 |  |  | 163,815 |  |  |
Total long-lived assets at foreign operations | 703,054 |  |  | 645,463 |  |  |
Total long-lived assets | $ | 1,961,585 |  |  | $ | 1,931,497 |  |  |

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