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Segment Information | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information Our chief operating decision maker, who is our Chief Executive Officer and President, evaluates performance of our business segments and allocates resources based on the adjusted EBIT of our business segments. Adjusted EBIT is not a defined term under GAAP. We define adjusted EBIT as income before interest and income taxes excluding acquired intangible asset amortization expense, other pension (income) expense for U.S. pension plans, rationalization charges and costs attributed to announced acquisitions and including, as applicable, equity in earnings of affiliates, net of tax. Adjusted EBIT should not be considered in isolation or as a substitute for income before interest and income taxes or any other financial data prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies. Reportable segment information was as follows:
| Dispensing and Specialty Closures |  | Metal Containers |  | Custom Containers |  | Corporate |  | Total
| (Dollars in thousands)
Three Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |
Net sales | $ | 690,382 |  |  | $ | 1,158,227 |  |  | $ | 160,130 |  |  | $ | — |  |  | $ | 2,008,739 |
Segment expenses and other (a) | 577,639 |  |  | 1,062,367 |  |  | 137,045 |  |  | 11,055 |  |  | 1,788,106 |
Equity in earnings of affiliates, net of tax | 775 |  |  | — |  |  | — |  |  | — |  |  | 775 |
Adjusted EBIT | 113,518 |  |  | 95,860 |  |  | 23,085 |  |  | (11,055) |  |  | 221,408 |
Depreciation | 38,458 |  |  | 19,853 |  |  | 8,501 |  |  | 115 |  |  | 66,927 |
Capital expenditures | 54,527 |  |  | 19,331 |  |  | 6,144 |  |  | 96 |  |  | 80,098 |
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |
Net sales | $ | 563,669 |  |  | $ | 1,022,605 |  |  | $ | 158,850 |  |  | $ | — |  |  | $ | 1,745,124 |
Segment expenses and other (a) | 468,453 |  |  | 925,540 |  |  | 138,839 |  |  | 6,704 |  |  | 1,539,536 |
Adjusted EBIT | 95,216 |  |  | 97,065 |  |  | 20,011 |  |  | (6,704) |  |  | 205,588 |
Depreciation | 25,755 |  |  | 19,801 |  |  | 8,747 |  |  | 47 |  |  | 54,350 |
Capital expenditures | 24,693 |  |  | 26,056 |  |  | 9,844 |  |  | — |  |  | 60,593 |
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |
Net sales | $ | 2,063,672 |  |  | $ | 2,462,710 |  |  | $ | 488,179 |  |  | $ | — |  |  | $ | 5,014,561 |
Segment expenses and other (a) | 1,745,518 |  |  | 2,246,523 |  |  | 415,581 |  |  | 36,782 |  |  | 4,444,404 |
Equity in earnings of affiliates, net of tax | 2,492 |  |  | — |  |  | — |  |  | — |  |  | 2,492 |
Adjusted EBIT | 320,646 |  |  | 216,187 |  |  | 72,598 |  |  | (36,782) |  |  | 572,649 |
Depreciation | 111,946 |  |  | 52,745 |  |  | 25,949 |  |  | 263 |  |  | 190,903 |
Segment assets | 5,865,522 |  |  | 2,763,764 |  |  | 790,925 |  |  | 43,355 |  |  | 9,463,566 |
Capital expenditures | 146,668 |  |  | 68,302 |  |  | 19,809 |  |  | 1,012 |  |  | 235,791 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |
Net sales | $ | 1,664,966 |  |  | $ | 2,290,530 |  |  | $ | 488,031 |  |  | $ | — |  |  | $ | 4,443,527 |
Segment expenses and other (a) | 1,399,193 |  |  | 2,089,998 |  |  | 425,307 |  |  | 22,597 |  |  | 3,937,095 |
Adjusted EBIT | 265,773 |  |  | 200,532 |  |  | 62,724 |  |  | (22,597) |  |  | 506,432 |
Depreciation | 76,290 |  |  | 57,606 |  |  | 26,634 |  |  | 115 |  |  | 160,645 |
Segment assets | 4,479,582 |  |  | 2,355,614 |  |  | 828,548 |  |  | 37,416 |  |  | 7,701,160 |
Capital expenditures | 80,707 |  |  | 85,925 |  |  | 25,385 |  |  | 18 |  |  | 192,035 |
(a) Segment expenses and other includes cost of goods sold, selling, general and administrative expenses, and other pension and postretirement (income) expense and excludes acquired intangible asset amortization expense, other pension (income) expense only for U.S. pension plans, and costs attributed to announced acquisitions. Total adjusted EBIT is reconciled to income before income taxes as follows:
| Three Months Ended |  | Nine Months Ended
| Sept. 30, 2025 |  | Sept. 30, 2024 |  | Sept. 30, 2025 |  | Sept. 30, 2024
| (Dollars in thousands)
Total adjusted EBIT | $ | 221,408 |  |  | $ | 205,588 |  |  | $ | 572,649 |  |  | $ | 506,432 |
Less: |  |  |  |  |  |  |
Acquired intangible asset amortization expense | 15,948 |  |  | 12,367 |  |  | 47,307 |  |  | 38,004 |
Other pension (income) for U.S. pension plans | (1,162) |  |  | (660) |  |  | (3,012) |  |  | (3,082) |
Equity in earnings of affiliates, net of tax | 775 |  |  | — |  |  | 2,492 |  |  | — |
Rationalization charges | 7,189 |  |  | 19,483 |  |  | 28,012 |  |  | 38,033 |
Costs attributed to announced acquisitions | — |  |  | 7,111 |  |  | 1,117 |  |  | 12,618 |
Income before interest and income taxes | 198,658 |  |  | 167,287 |  |  | 496,733 |  |  | 420,859 |
Interest and other debt expense | 49,989 |  |  | 41,871 |  |  | 141,616 |  |  | 121,861 |
Income before income taxes | $ | 148,669 |  |  | $ | 125,416 |  |  | $ | 355,117 |  |  | $ | 298,998 |
Net sales and adjusted EBIT 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 adjusted EBIT during that quarter.

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- 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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