Business Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Business Segment Information

Business Segment Information

Reportable business segment information was as follows:

	Metal Containers		Closures		Plastic Containers		Corporate		Total
	(Dollars in thousands)
Three Months Ended September 30, 2020
Net sales	$	856,660	$	475,105	$	156,734	$	—	$	1,488,499
Depreciation and amortization(1)	21,008		27,777		9,207		39		58,031
Rationalization charges	1,639		787		79		—		2,505
Segment income	94,497		64,161		21,887		(6,512)		174,033
Three Months Ended September 30, 2019
Net sales	$	822,262	$	353,436	$	145,644	$	—	$	1,321,342
Depreciation and amortization(1)	21,477		20,847		9,512		39		51,875
Rationalization charges	3,035		72		88		—		3,195
Segment income	81,128		44,784		11,425		(4,642)		132,695
Nine Months Ended September 30, 2020
Net sales	$	1,962,370	$	1,242,725	$	490,258	$	—	$	3,695,353
Depreciation and amortization(1)	62,034		69,927		28,046		120		160,127
Rationalization charges	4,755		2,229		263		—		7,247
Segment income	213,757		167,971		66,918		(41,238)		407,408
Nine Months Ended September 30, 2019
Net sales	$	1,904,941	$	1,072,979	$	463,715	$	—	$	3,441,635
Depreciation and amortization(1)	64,021		62,345		27,665		120		154,151
Rationalization charges	42,280		5,979		335		—		48,594
Segment income	134,053		131,896		36,902		(14,816)		288,035

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(1)Depreciation and amortization excludes amortization of debt discount and debt issuance costs of $1.2 million and $3.3 million for the three and nine months ended September 30, 2020, respectively, and amortization of debt issuance costs of $0.8 million and $2.6 million for the three and nine months ended September 30, 2019, respectively.

Total segment income is reconciled to income before income taxes as follows:

	Three Months Ended				Nine Months Ended
	Sept. 30, 2020		Sept. 30, 2019		Sept. 30, 2020		Sept. 30, 2019
	(Dollars in thousands)
Total segment income	$	174,033	$	132,695	$	407,408	$	288,035
Interest and other debt expense	27,725		28,443		78,532		83,948
Income before income taxes	$	146,308	$	104,252	$	328,876	$	204,087

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.