XML 31 R20.htm IDEA: XBRL DOCUMENT v3.19.1
Business Segment Information
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Business Segment Information
Business Segment Information

Reportable business segment information for the three months ended March 31 was as follows:

 
Metal
Containers
 
Closures
 
Plastic
Containers
 
Corporate
 
Total
 
(Dollars in thousands)
Three Months Ended March 31, 2019
 
 
 
 
 
 
 
 
 
Net sales
$
507,062

 
$
356,199

 
$
163,870

 
$

 
$
1,027,131

Depreciation and amortization(1)
21,107

 
20,354

 
8,816

 
41

 
50,318

Rationalization charges
222

 
5,660

 
201

 

 
6,083

Segment income
38,897

 
40,256

 
12,066

 
(4,477
)
 
86,742

 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 

 
 

 
 

 
 

 
 

Net sales
$
485,954

 
$
370,345

 
$
155,981

 
$

 
$
1,012,280

Depreciation and amortization(1)
20,254

 
18,650

 
8,950

 
22

 
47,876

Rationalization charges
482

 
39

 
182

 

 
703

Segment income
37,093

 
48,224

 
11,082

 
(4,217
)
 
92,182


_____________

(1) 
Depreciation and amortization excludes amortization of debt issuance costs of $0.9 million and $1.1 million for the three months ended March 31, 2019 and 2018, respectively.



Total segment income is reconciled to income before income taxes as follows:
 
 
 
2019
 
2018
 


 
(Dollars in thousands)

Total segment income
 
 
$
86,742

 
$
92,182

Interest and other debt expense
 
 
27,103

 
30,481

Income before income taxes
 
 
$
59,639

 
$
61,701


Sales and segment income of our metal container business and part of our closures business are dependent, in part, upon fruit and vegetable harvests.  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 segment income during that quarter.