XML 31 R20.htm IDEA: XBRL DOCUMENT v3.20.1
Business Segment Information
3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
Reportable business segment information for the three months ended March 31was as follows:

Metal
Containers
ClosuresPlastic
Containers
CorporateTotal
 (Dollars in thousands)
Three Months Ended March 31, 2020     
Net sales$508,519  $357,151  $164,714  $—  $1,030,384  
Depreciation and amortization(1)
20,481  20,123  9,486  40  50,130  
Rationalization charges1,963  742  94  —  2,799  
Segment income 47,479  45,229  22,047  (12,614) 102,141  
Three Months Ended March 31, 2019     
Net sales$507,062  $356,199  $163,870  $—  $1,027,131  
Depreciation and amortization(1)
21,107  20,354  8,816  41  50,318  
Rationalization charges222  5,660  201  —  6,083  
Segment income 38,897  40,256  12,066  (4,477) 86,742  

_____________

(1)Depreciation and amortization excludes amortization of debt discount and debt issuance costs of $1.0 million for the three months ended March 31, 2020 and debt issuance costs of $0.9 million for the three months ended March 31, 2019, respectively.



Total segment income is reconciled to income before income taxes as follows:
20202019
 (Dollars in thousands)
Total segment income $102,141  $86,742  
Interest and other debt expense24,970  27,103  
Income before income taxes$77,171  $59,639  

Sales and segment income 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 segment income during that quarter.