Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

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

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(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.

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

Sales and segment income 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 segment income during that quarter.