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Segment Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment InformationOur business operations are organized into two reportable segments, Proprietary Products and Contract-Manufactured Products. Our Proprietary Products reportable segment offers proprietary packaging, containment 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 net sales information about our reportable segments, reconciled to consolidated totals:
($ in millions)202120202019
Net sales:
Proprietary Products$2,317.3 $1,648.6 $1,398.6 
Contract-Manufactured Products514.7 498.6 441.5 
Intersegment sales elimination(0.4)(0.3)(0.2)
Consolidated net sales$2,831.6 $2,146.9 $1,839.9 

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

We do not have any customers accounting for greater than 10% of consolidated net sales.

The following table presents net sales and long-lived assets, by the country in which the legal subsidiary is domiciled and assets are located:
Net SalesLong-Lived Assets
($ in millions)20212020201920212020
United States$1,198.0 $975.6 $814.7 $504.1 $407.8 
Germany474.3 282.1 236.3 124.1 112.0 
Ireland247.6 226.0 173.8 187.3 197.6 
France213.0 172.7 150.6 86.1 76.0 
Other European countries341.3 236.8 251.1 65.1 66.8 
Other357.4 253.7 213.4 160.1 151.3 
$2,831.6 $2,146.9 $1,839.9 $1,126.8 $1,011.5 
The following tables provide summarized financial information for our segments:

($ in millions)202120202019
Proprietary Products$796.1 $434.5 $313.6 
Contract-Manufactured Products67.2 68.6 49.1 
Total business segment operating profit$863.3 $503.1 $362.7 
Corporate and Unallocated
Stock-based compensation expense$(37.5)$(34.0)$(24.4)
Corporate general costs (1)
(63.4)(52.1)(41.9)
Unallocated Items:
Restructuring and severance related charges (2)
(2.2)(7.0)(4.9)
Amortization of acquisition-related intangible assets (3)
(0.8)(0.6)— 
Asset impairment (4)
(2.8)— — 
Cost investment activity (5)
(4.3)(2.5)— 
Gain on restructuring-related sale of assets— — 1.7 
Argentina currency devaluation— — (1.0)
Tax recovery (6)
— — 4.4 
Total Corporate and Unallocated(111.0)(96.2)(66.1)
Total consolidated operating profit$752.3 $406.9 $296.6 
Other expense/(income), net3.4 5.6 4.8 
Income before income taxes$748.9 $401.3 $291.8 

(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 2021 and 2020, the Company recorded a restructuring and severance related charge of $2.2 million and $7.0 million, respectively, to optimize certain organizational structure within the Company. During 2019, the Company recorded $4.9 million in restructuring and related charges in connection with the 2018 plan.

(3) During 2021, the company recorded $0.8 million of amortization expense within operating profit associated with an acquisition of an intangible asset during the second quarter of 2020. During 2020, the company recorded $0.6 million of amortization expense within operating profit associated with an acquisition of an intangible asset during the second quarter of 2020.

(4) The Company recorded a $2.8 million impairment charge for certain long-lived and intangible assets within the Proprietary Products segment as it determined the carrying value was not fully recoverable. $1.9 million of this charge is recorded in Cost of Goods Sold and $0.9 million of the charge is recorded in Selling, General, and Administrative expense, due to the nature of the impaired assets.

(5) During 2021, the net cost investment activity was equal to $4.3 million, inclusive of an impairment charge of $4.6 million partially offset by a $0.3 million gain on the sale of a cost investment. During 2020, the Company recorded a cost investment impairment charge of $2.5 million.

(6) During the twelve months ended December 31, 2019, the Company recorded a net tax recovery of $4.4 million related to previously-paid international excise taxes, following a favorable court ruling.

Please refer to Note 16, Other Expense (Income), for further discussion of unallocated items.
The following tables provide summarized financial information for our two reportable segments and corporate and unallocated:
($ in millions)
Assets20212020
Proprietary Products$2,152.6 $1,798.3 
Contract-Manufactured Products443.7 411.6 
Corporate and Unallocated717.5 583.9 
Total consolidated$3,313.8 $2,793.8 

($ in millions)
Depreciation and Amortization202120202019
Proprietary Products$93.8 $84.6 $82.2 
Contract-Manufactured Products21.1 20.4 17.9 
Corporate and Unallocated7.4 4.1 3.3 
Total consolidated$122.3 $109.1 $103.4 
($ in millions)
Capital Expenditures202120202019
Proprietary Products$218.0 $139.5 $88.7 
Contract-Manufactured Products26.6 25.0 36.1 
Corporate and Unallocated8.8 9.9 1.6 
Total consolidated$253.4 $174.4 $126.4