Business Segment Information

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Business Segment Information

Note 11.             Business Segment Information

Reportable business segment information for the three months ended March 31 was as follows:

	Metal Containers		Closures		Plastic Containers		Corporate			Total
	(Dollars in thousands)
Three Months Ended March 31, 2014
Net sales	$	468,405	$	213,797	$	173,644	$	—		$	855,846
Depreciation and amortization(1)	17,379		10,804		9,135		32			37,350
Rationalization charges	—		626		962		—			1,588
Segment income from operations(2)	40,453		17,766		12,843		(3,052		)	68,010
Three Months Ended March 31, 2013
Net sales	$	463,760	$	161,142	$	170,839	$	—		$	795,741
Depreciation and amortization(1)	22,008		8,327		12,154		34			42,523
Rationalization charges	1,050		—		301		—			1,351
Segment income from operations(2)(3)	39,561		10,632		10,406		(2,475		)	58,124

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⁽¹⁾  Depreciation and amortization excludes amortization of debt issuance costs of $1.1 million and $1.2 million for the three months ended March 31, 2014 and 2013, respectively.

⁽²⁾  Income from operations of the closures segment includes losses from operations in Venezuela of $0.5 million and $4.2 million for the three months ended March 31, 2014 and 2013, respectively, which for the three months ended March 31, 2013 includes a charge of $3.0 million for the remeasurement of net assets in Venezuela due to the devaluation of the official Bolivar exchange rate.

⁽³⁾  Income from operations of the metal containers segment includes plant start-up costs of $0.8 million for the three months ended March 31, 2013.

Total segment income from operations is reconciled to income before income taxes for the three months ended March 31, as follows:

	2014		2013
	(Dollars in thousands)
Total segment income from operations	$	68,010	$	58,124
Interest and other debt expense	20,160		17,417
Income before income taxes	$	47,850	$	40,707

Sales and income from operations of our metal container business and part of our closures business are dependent, in part, upon fruit and vegetable harvests.  The size and quality of these harvests varies from year to year, depending in large part upon the weather conditions in applicable regions.  Because of the seasonality of the harvests, we have historically experienced higher unit sales volume in the third quarter of our fiscal year and generated a disproportionate amount of our annual income from operations during that quarter.