Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of 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 September 30, 2025
Net sales	$	690,382	$	1,158,227	$	160,130	$	—	$	2,008,739
Segment expenses and other (a)	577,639		1,062,367		137,045		11,055		1,788,106
Equity in earnings of affiliates, net of tax	775		—		—		—		775
Adjusted EBIT	113,518		95,860		23,085		(11,055)		221,408
Depreciation	38,458		19,853		8,501		115		66,927
Capital expenditures	54,527		19,331		6,144		96		80,098

Three Months Ended September 30, 2024
Net sales	$	563,669	$	1,022,605	$	158,850	$	—	$	1,745,124
Segment expenses and other (a)	468,453		925,540		138,839		6,704		1,539,536

Adjusted EBIT	95,216		97,065		20,011		(6,704)		205,588
Depreciation	25,755		19,801		8,747		47		54,350
Capital expenditures	24,693		26,056		9,844		—		60,593

Nine Months Ended September 30, 2025
Net sales	$	2,063,672	$	2,462,710	$	488,179	$	—	$	5,014,561
Segment expenses and other (a)	1,745,518		2,246,523		415,581		36,782		4,444,404
Equity in earnings of affiliates, net of tax	2,492		—		—		—		2,492
Adjusted EBIT	320,646		216,187		72,598		(36,782)		572,649
Depreciation	111,946		52,745		25,949		263		190,903
Segment assets	5,865,522		2,763,764		790,925		43,355		9,463,566
Capital expenditures	146,668		68,302		19,809		1,012		235,791

Nine Months Ended September 30, 2024
Net sales	$	1,664,966	$	2,290,530	$	488,031	$	—	$	4,443,527
Segment expenses and other (a)	1,399,193		2,089,998		425,307		22,597		3,937,095

Adjusted EBIT	265,773		200,532		62,724		(22,597)		506,432
Depreciation	76,290		57,606		26,634		115		160,645
Segment assets	4,479,582		2,355,614		828,548		37,416		7,701,160
Capital expenditures	80,707		85,925		25,385		18		192,035

(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.

Schedule of Reconciliation of Adjusted EBIT to Income before Income Taxes

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


	Three Months Ended				Nine Months Ended
	Sept. 30, 2025		Sept. 30, 2024		Sept. 30, 2025		Sept. 30, 2024

	(Dollars in thousands)
Total adjusted EBIT	$	221,408	$	205,588	$	572,649	$	506,432
Less:
Acquired intangible asset amortization expense	15,948		12,367		47,307		38,004
Other pension (income) for U.S. pension plans	(1,162)		(660)		(3,012)		(3,082)
Equity in earnings of affiliates, net of tax	775		—		2,492		—
Rationalization charges	7,189		19,483		28,012		38,033

Costs attributed to announced acquisitions	—		7,111		1,117		12,618

Income before interest and income taxes	198,658		167,287		496,733		420,859
Interest and other debt expense	49,989		41,871		141,616		121,861
Income before income taxes	$	148,669	$	125,416	$	355,117	$	298,998