Segments of Business

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Segments of Business

Segments of Business

The Company's business activities are organized around and aggregated into its two principal business segments, U.S. Packaging and Global Packaging, based on their similar economic characteristics, products, production process, types of customers, and distribution methods. Both internal and external reporting conforms to this organizational structure, with no significant differences in accounting policies applied. Minor intersegment sales are generally priced to reflect nominal markups. The Company evaluates the performance of its segments and allocates resources to them based primarily on operating profit, which is defined as profit before general corporate expense, interest expense, other non-operating income, and income taxes.

A summary of the Company’s business activities reported by its two business segments follows:

	Three Months Ended March 31,
Business Segments (in millions)	2015			2014
Sales including intersegment sales:
U.S. Packaging	$	713.9		$	745.6
Global Packaging	340.6			361.7
Intersegment sales:
U.S. Packaging	(6.9		)	(7.4		)
Global Packaging	(7.5		)	(4.9		)
Total net sales	$	1,040.1		$	1,095.0
Operating Profit
U.S. Packaging	$	95.4		$	91.8
Global Packaging (1)	24.3			24.1
	119.7			115.9
General corporate expenses	(22.3		)	(20.6		)
Operating income	97.4			95.3
Interest expense	13.1			16.9
Other non-operating income	(1.8		)	(12.7		)
Income from continuing operations before income taxes	$	86.1		$	91.1

(1)    Includes $5.0 million of costs related to the plant closure in Philadelphia, Pennsylvania (a healthcare packaging manufacturing facility).