Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Reportable Business Segment Information

Reportable business segment information for the three and six months ended June 30 was as follows:

	Metal Containers		Closures (1)		Plastic Containers		Corporate			Total
	(Dollars in thousands)
Three Months Ended June 30, 2017
Net sales	$	529,715	$	349,087	$	143,012	$	—		$	1,021,814
Depreciation and amortization(2)	19,124		17,000		8,572		23			44,719
Rationalization charges	2,239		349		450		—			3,038
Segment income from operations(3)	49,432		33,827		6,666		(14,692		)	75,233
Three Months Ended June 30, 2016
Net sales	$	529,604	$	206,492	$	138,546	$	—		$	874,642
Depreciation and amortization(2)	17,997		9,702		8,058		27			35,784
Rationalization charges	4,054		293		691		—			5,038
Segment income from operations	45,873		25,301		1,017		(4,540		)	67,651
Six Months Ended June 30, 2017
Net sales	$	995,951	$	546,769	$	284,500	$	—		$	1,827,220
Depreciation and amortization(2)	37,923		26,181		17,008		46			81,158
Rationalization charges	2,962		401		560		—			3,923
Segment income from operations (3)	93,303		57,625		13,500		(32,434		)	131,994
Six Months Ended June 30, 2016
Net sales	$	983,059	$	402,601	$	281,719	$	—		$	1,667,379
Depreciation and amortization(2)	35,947		19,116		15,840		55			70,958
Rationalization charges	4,054		417		1,637		—			6,108
Segment income from operations	83,489		49,820		1,068		(9,281		)	125,096

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⁽¹⁾  Our Closures segment includes SDS as of the acquisition date of April 6, 2017.

⁽²⁾  Depreciation and amortization excludes amortization of debt issuance costs of $1.0 million for each of the three months ended June 30, 2017 and 2016 and $2.2 million and $2.1 million for the six months ended June 30, 2017 and 2016, respectively.

⁽³⁾  Income from operations for Metal Containers includes a $3.0 million charge for each of the three and six months ended June 30, 2017 related to the resolution of a past non-commercial legal dispute. Income from operations for Corporate includes costs attributed to announced acquisitions of $9.8 million and $23.0 million for the three and six months ended June 30, 2017, respectively.

Reconciliation of Segment Income from Operations to Income before Income Taxes

l segment income from operations is reconciled to income before income taxes as follows:

	Three Months Ended				Six Months Ended
	June 30,		June 30,		June 30,		June 30,
	2017		2016		2017		2016
	(Dollars in thousands)
Total segment income from operations	$	75,233	$	67,651	$	131,994	$	125,096
Interest and other debt expense	33,582		16,883		56,677		33,339
Income before income taxes	$	41,651	$	50,768	$	75,317	$	91,757

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