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Segment Information
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We evaluate performance of our business segments and allocate 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. 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 ClosuresMetal
Containers
Custom
Containers
CorporateTotal
 (Dollars in thousands)
Three Months Ended September 30, 2024     
Net sales$563,669 $1,022,605 $158,850 $— $1,745,124 
Income before interest and income taxes74,659 89,307 17,136 (13,815)167,287 
Adjusted EBIT95,216 97,065 20,011 (6,704)205,588 
Depreciation25,755 19,801 8,747 47 54,350 
Three Months Ended September 30, 2023     
Net sales$559,081 $1,094,609 $149,411 $— $1,803,101 
Income before interest and income taxes77,949 110,185 10,668 (4,711)194,091 
Adjusted EBIT93,786 113,519 11,839 (4,711)214,433 
Depreciation25,691 18,177 8,089 51,965 
Nine Months Ended September 30, 2024     
Net sales$1,664,966 $2,290,530 $488,031 $— $4,443,527 
Income before interest and income taxes213,320 187,290 55,464 (35,215)420,859 
Adjusted EBIT265,773 200,532 62,724 (22,597)506,432 
Depreciation76,290 57,606 26,634 115 160,645 
Nine Months Ended September 30, 2023     
Net sales$1,699,109 $2,475,569 $473,431 $— $4,648,109 
Income before interest and income taxes212,612 231,563 46,082 (20,945)469,312 
Adjusted EBIT253,604 241,659 50,317 (20,945)524,635 
Depreciation76,206 54,693 25,923 66 156,888 
Total adjusted EBIT is reconciled to income before income taxes as follows:
Three Months EndedNine Months Ended
Sept. 30, 2024Sept. 30, 2023Sept. 30, 2024Sept. 30, 2023
 (Dollars in thousands)
Total adjusted EBIT $205,588 $214,433 $506,432 $524,635 
Less:
Acquired intangible asset amortization expense12,367 13,309 38,004 39,834 
Other pension (income) expense for U.S. pension plans(660)609 (3,082)2,277 
Rationalization charges19,483 6,424 38,033 13,212 
Costs attributed to announced acquisitions7,111 — 12,618 — 
Income before interest and income taxes167,287 194,091 420,859 469,312 
Less interest and other debt expense41,871 47,264 121,861 130,822 
Income before income taxes$125,416 $146,827 $298,998 $338,490 

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.