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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Net sales $ 3,588,318 $ 3,509,227 $ 3,071,545
Cost of goods sold 3,070,759 2,990,637 2,599,116
Gross profit 517,559 518,590 472,429
Selling, general and administrative expenses 183,390 156,752 166,896
Rationalization charges 8,660 7,717 22,214
Income from operations 325,509 [1] 354,121 [2] 283,319 [3]
Interest and other debt expense before loss on early extinguishment of debt 63,018 62,978 54,091
Loss on early extinguishment of debt 38,704 976 7,548
Interest and other debt expense 101,722 63,954 61,639
Income before income taxes 223,787 290,167 221,680
Provision for income taxes 72,441 96,994 77,034
Net income $ 151,346 $ 193,173 $ 144,646
Basic net income per share $ 2.18 $ 2.76 $ 1.91
Diluted net income per share $ 2.17 $ 2.75 $ 1.89
Dividends per share $ 0.48 $ 0.44 $ 0.42
[1] Metal containers includes plant start-up costs of $6.4 million. Corporate includes costs attributable to announced acquisitions of $1.5 million.
[2] Metal containers includes a charge for the resolution of a past product liability dispute of $3.3 million. Corporate includes income of $25.2 million for proceeds received as a result of the termination of the merger agreement with Graham Packaging, net of costs associated with certain corporate development activities.
[3] Closures includes a charge of $3.2 million for the remeasurement of net assets in Venezuela. Corporate includes costs attributable to announced acquisitions of $2.7 million.