Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Reportable Operating Segment Information

Reportable segment information was as follows:


	Dispensing and Specialty Closures		Metal Containers		Custom Containers		Corporate		Total
	(Dollars in thousands)
Three Months Ended June 30, 2025
Net sales	$	702,187	$	676,056	$	160,918	$	—	$	1,539,161
Segment expenses and other (a)	594,817		605,285		135,989		10,654		1,346,745
Equity in earnings of affiliates, net of tax	555		—		—		—		555
Adjusted EBIT	107,925		70,771		24,929		(10,654)		192,971
Depreciation	37,633		13,607		8,684		102		60,026
Capital expenditures	48,707		17,728		5,826		508		72,769

Three Months Ended June 30, 2024
Net sales	$	565,377	$	650,796	$	165,192	$	—	$	1,381,365
Segment expenses and other (a)	472,670		592,283		142,647		8,401		1,216,001

Adjusted EBIT	92,707		58,513		22,545		(8,401)		165,364
Depreciation	25,384		18,892		8,823		47		53,146
Capital expenditures	26,149		22,645		7,386		4		56,184

Six Months Ended June 30, 2025
Net sales	$	1,373,290	$	1,304,483	$	328,049	$	—	$	3,005,822
Segment expenses and other (a)	1,167,879		1,184,156		278,536		25,727		2,656,298
Equity in earnings of affiliates, net of tax	1,717		—		—		—		1,717
Adjusted EBIT	207,128		120,327		49,513		(25,727)		351,241
Depreciation	73,488		32,892		17,448		148		123,976
Segment assets	5,846,884		2,706,408		780,467		39,861		9,373,620
Capital expenditures	92,141		48,971		13,665		916		155,693

Six Months Ended June 30, 2024
Net sales	$	1,101,297	$	1,267,925	$	329,181	$	—	$	2,698,403
Segment expenses and other (a)	930,740		1,164,458		286,468		15,893		2,397,559

Adjusted EBIT	170,557		103,467		42,713		(15,893)		300,844
Depreciation	50,535		37,805		17,887		68		106,295
Segment assets	4,389,613		2,398,402		817,205		38,219		7,643,439
Capital expenditures	56,014		59,869		15,541		18		131,442

(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, and costs attributed to announced acquisitions.

Reconciliation of Adjusted EBIT to Income before Income Taxes

Total adjusted EBIT is reconciled to income before income taxes as follows:


	Three Months Ended				Six Months Ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024

	(Dollars in thousands)
Total adjusted EBIT	$	192,971	$	165,364	$	351,241	$	300,844
Less:
Acquired intangible asset amortization expense	15,946		12,356		31,359		25,637
Other pension (income) for U.S. pension plans	(925)		(1,211)		(1,850)		(2,422)
Equity in earnings of affiliates, net of tax	555		—		1,717		—
Rationalization charges	9,864		6,859		20,823		18,550

Costs attributed to announced acquisitions	—		5,507		1,117		5,507

Income before interest and income taxes	167,531		141,853		298,075		253,572
Interest and other debt expense	48,699		41,343		91,627		79,990
Income before income taxes	$	118,832	$	100,510	$	206,448	$	173,582