Segment Information

Our business operations are organized into two reportable segments, Proprietary Products and Contract-Manufactured Products. Our Proprietary Products reportable segment develops commercial, operational, and innovation strategies across our global network, with specific emphasis on product offerings to biotechnology, generics, and pharmaceutical customers. Our Contract-Manufactured Products reportable segment serves as a fully integrated business focused on the design, manufacture, and automated assembly of complex devices, primarily for pharmaceutical, diagnostic, and medical device customers.

Segment operating profit excludes general corporate costs, which include executive and director compensation, stock-based compensation, adjustments to annual incentive plan expense for over- or under-attainment of targets, certain pension and other retirement benefit costs, and other corporate facilities and administrative expenses not allocated to the segments. Also excluded are items that we consider not representative of ongoing operations. Such items are referred to as other unallocated items and generally include restructuring and related charges, certain asset impairments and other specifically-identified income or expense items.

The following table presents information about our reportable segments, reconciled to consolidated totals:



	Three Months Ended September 30,						Nine Months Ended September 30,
($ in millions)	2017			2016			2017			2016
Net sales:
Proprietary Products	$	308.9		$	298.1		$	930.5		$	899.9
Contract-Manufactured Products	89.3			79.0			253.3			227.8
Intersegment sales elimination	—			(0.4		)	(0.3		)	(0.9		)
Consolidated net sales	$	398.2		$	376.7		$	1,183.5		$	1,126.8
Operating profit (loss):
Proprietary Products	$	67.0		$	57.5		$	188.2		$	185.6
Contract-Manufactured Products	10.8			8.9			30.1			25.6
Corporate	(13.9		)	(12.8		)	(39.3		)	(42.3		)
Other unallocated items	—			(2.3		)	(11.1		)	(26.4		)
Total operating profit	$	63.9		$	51.3		$	167.9		$	142.5
Interest expense	1.3			2.2			5.7			6.7
Interest income	0.3			0.2			0.9			0.8
Income before income taxes	$	62.9		$	49.3		$	163.1		$	136.6

The intersegment sales elimination, which is required for the presentation of consolidated net sales, represents the elimination of components sold between our segments.

Other unallocated items, during the nine months ended September 30, 2017, consisted of a charge of $11.1 million related to the deconsolidation of our Venezuelan subsidiary. Other unallocated items, during the three and nine months ended September 30, 2016, consisted of $2.3 million and $23.7 million, respectively, in restructuring and related charges. In addition, during the nine months ended September 30, 2016, other unallocated items included a charge of $2.7 million related to the devaluation of the Venezuelan Bolivar from the previously-prevailing official exchange rate of 6.3 Bolivars to USD to 10.0 Bolivars to USD. Please refer to Note 12, Other (Income) Expense, for further discussion of these items.