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Segment Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
Our business operations are organized into two reportable segments, Proprietary Products and Contract-Manufactured Products. Our Proprietary Products reportable segment offers proprietary packaging, containment solutions and drug delivery products, along with analytical lab services and other integrated services and solutions, primarily to biologic, generic and pharmaceutical drug 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.

The Chief Operating Decision Maker ("CODM") evaluates the performance of our segments based upon, among other things, segment net sales and operating profit. Segment operating profit excludes general corporate costs, which include executive and director compensation, stock-based compensation, certain pension and other retirement benefit costs, and other corporate facilities and administrative expenses not allocated to the segments. Also excluded are items that the CODM considers 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 segment operating profit metric is what the CODM uses in evaluating our results of operations and the financial measure that provides a valuable insight into our overall performance and financial position.

The following table presents information about our reportable segments, reconciled to consolidated totals:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2023202220232022
Net sales:    
Proprietary Products$618.0 $653.7 $1,201.1 $1,255.0 
Contract-Manufactured Products135.8 117.8 269.3 236.5 
Intersegment sales elimination— (0.2)— (0.2)
Consolidated net sales$753.8 $771.3 $1,470.4 $1,491.3 

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

The following table provides summarized financial information for our segments:
Three Months Ended
June 30,		Six Months Ended
June 30,
($ in millions)2023202220232022
Operating profit (loss):
Proprietary Products$194.2 $233.9 $364.9 $427.3 
Contract-Manufactured Products14.9 14.2 32.3 33.3 
Total business segment operating profit$209.1 $248.1 $397.2 $460.6 
Corporate and Unallocated
Stock-based compensation expense$(7.5)$(5.5)$(16.0)$(11.0)
Corporate general costs (1)
(16.6)(15.6)(31.3)(32.7)
Unallocated Items:
Loss on disposal of plant (2)
(2.2)— (11.6)— 
Restructuring and other charges (3)
(0.1)1.6 (0.1)1.6 
Amortization of acquisition-related intangible assets (4)
(0.2)(0.2)(0.4)(0.4)
Total Corporate and Unallocated(26.6)(19.7)(59.4)(42.5)
Total consolidated operating profit$182.5 $228.4 $337.8 $418.1 
Interest (income) expense, net and other nonoperating (income) expense, net(2.4)1.2 (5.0)3.1 
Income before income taxes and equity in net income of affiliated companies$184.9 $227.2 $342.8 $415.0 
(1) Corporate general costs includes executive and director compensation, certain pension and other retirement benefit costs, and other corporate facilities and administrative expenses not allocated to the segments.

(2) During the three and six months ended June 30, 2023, the Company recorded expense of $2.2 million and $11.6 million, respectively, within other expense (income), as a result of the sale of one of the Company’s manufacturing facilities within the Proprietary Products segment. The transaction closed during the second quarter of 2023.

(3) Restructuring and other charges of $0.1 million for both the three and six months ended June 30, 2023 represents the net impact of an inventory write down of $0.9 million within cost of goods and services sold and a $0.8 million benefit within other expense (income) for revised severance estimates in connection with its 2022 restructuring plan. During the three and six months ended June 30, 2022, the Company recorded a benefit within other expense (income) of $1.6 million for restructuring and severance related costs in connection with its 2020 plan related to revised severance estimates.

(4) During the three and six months ended June 30, 2023, the Company recorded $0.2 million and $0.4 million, respectively, of amortization expense within operating profit associated with an intangible asset acquired during the second quarter of 2020. During the three and six months ended June 30, 2022, the Company recorded $0.2 million and $0.4 million, respectively, of amortization expense within operating profit associated with an intangible asset acquired during the second quarter of 2020.

Please refer to Note 15, Other Expense (Income), for further discussion of these items.