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BUSINESS SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
We are engaged in the packaging industry and report our results in three segments, which are our reportable segments: dispensing and specialty closures; metal containers; and custom containers. The dispensing and specialty closures segment manufactures an extensive range of dispensing systems and specialty closures for fragrance and beauty, food, beverage, personal and health care, home care and lawn and garden products. The metal containers segment manufactures steel and aluminum containers for pet and human food and general line products. The custom containers segment manufactures custom designed plastic containers for pet and human food, consumer health and pharmaceutical, personal care, home care, lawn and garden and automotive products. These segments are strategic business operations that are managed separately to maximize the production, technology and marketing of their packaging product. This is consistent with how our chief operating decision maker, who is our Chief Executive Officer and President, allocates resources and makes decisions. Our dispensing and specialty closures segment operates in North and South America, Europe and Asia. Our metal containers segment operates primarily in North America and Europe. Our custom containers segment operates in North America. The accounting policies of the business segments are the same as those described in Note 1.

Our chief operating decision maker 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. Adjusted EBIT is defined as income before interest and income taxes excluding acquired intangible asset amortization expense, other pension (income) expense for U.S. pension plans, rationalization charges, the impact from charges for the write-up of acquired inventory required under purchase accounting, the charge for the European Commission settlement 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 for each of the past three years is as follows:
Dispensing and Specialty ClosuresMetal
Containers		Custom ContainersCorporateTotal
 (Dollars in thousands)
2024
Net sales$2,304,370 $2,900,678 $649,646 $— $5,854,694 
Segment expenses and other (a)
1,939,445 2,658,257 568,668 30,815 5,197,185 
Equity in earnings of affiliates,
net of tax
685 — — — 685 
Adjusted EBIT365,610 242,421 80,978 (30,815)658,194 
Depreciation109,956 77,389 35,757 162 223,264 
Segment assets5,376,183 2,309,297 805,657 45,082 8,536,219 
Capital expenditures126,185 104,701 31,842 58 262,786 
2023
Net sales$2,221,430 $3,140,830 $625,945 $— $5,988,205 
Segment expenses and other (a)
1,880,786 2,858,428 562,628 25,810 5,327,652 
Adjusted EBIT340,644 282,402 63,317 (25,810)660,553 
Depreciation101,664 73,558 34,846 74 210,142 
Segment assets4,437,833 2,178,416 898,582 46,270 7,561,101 
Capital expenditures110,073 95,260 20,474 1,003 226,810 
2022
Net sales$2,316,690 $3,371,776 $723,033 $— $6,411,499 
Segment expenses and other (a)
1,956,937 3,089,562 636,225 22,470 5,705,194 
Adjusted EBIT359,753 282,214 86,808 (22,470)706,305 
Depreciation98,214 76,537 35,325 159 210,235 
Segment assets4,391,599 1,965,415 898,308 43,911 7,299,233 
Capital expenditures105,759 81,533 28,462 7 215,761 
______________________
(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, the impact from charges for the write-up of acquired inventory, the charge for the European Commission settlement, and costs attributed to announced acquisitions.
Total adjusted EBIT is reconciled to income before income taxes as follows:
202420232022
 (Dollars in thousands)
Total adjusted EBIT$658,194 $660,553 $706,305 
Less:
Acquired intangible asset amortization expense52,620 53,091 52,553 
Other pension (income) expense for U.S. pension plans(4,110)3,614 (47,494)
Equity in earnings of affiliates, net of tax685 — — 
Rationalization charges59,481 8,412 74,081 
Purchase accounting write-up of inventory6,062 — — 
European Commission settlement— — 25,203 
Costs attributed to announced acquisitions28,361 — — 
Income before interest and income taxes515,095 595,436 601,962 
Interest and other debt expense167,425 173,315 127,823 
Income before income taxes$347,670 $422,121 $474,139 


Total segment assets at December 31 are reconciled to total assets as follows:
20242023
 (Dollars in thousands)
Total segment assets$8,536,219 $7,561,101 
Other assets48,449 50,135 
Total assets$8,584,668 $7,611,236 
Financial information relating to our operations by geographic area is as follows:
202420232022
 (Dollars in thousands)
Net sales:
United States$4,159,904 $4,377,928 $4,805,266 
Foreign:
Europe1,241,806 1,201,534 1,299,616 
Other452,984 408,743 306,617 
Total net sales from
foreign operations
1,694,790 1,610,277 1,606,233 
Total net sales$5,854,694 $5,988,205 $6,411,499 
Long-lived assets:
United States$1,245,639 $1,258,531 
Foreign:
Europe774,099 540,254 
Other263,165 162,800 
Total long-lived assets at
foreign operations
1,037,264 703,054 
Total long-lived assets$2,282,903 $1,961,585 
Net sales are attributed to the country from which the product was manufactured and shipped.
Sales of our metal containers segment to Nestlé S.A. accounted for 11.6 percent, 11.2 percent and 11.4 percent of our consolidated net sales in 2024, 2023 and 2022, respectively.
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.