Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

Reportable segment information was as follows:

	Dispensing and Specialty Closures		Metal Containers		Custom Containers		Corporate		Total
	(Dollars in thousands)
Three Months Ended June 30, 2021
Net sales	$	545,768	$	624,534	$	178,359	$	—	$	1,348,661
Depreciation and amortization(1)	29,101		21,329		9,632		42		60,104
Rationalization charges	67		225		62		—		354
Segment income	73,836		58,635		27,244		(6,761)		152,954
Three Months Ended June 30, 2020
Net sales	$	410,468	$	597,191	$	168,811	$	—	$	1,176,470
Depreciation and amortization(1)	22,026		20,545		9,352		42		51,965
Rationalization charges	700		1,153		89		—		1,942
Segment income	58,581		71,782		22,987		(22,116)		131,234
Six Months Ended June 30, 2021
Net sales	$	1,055,120	$	1,178,615	$	353,036	$	—	$	2,586,771
Depreciation and amortization(1)	57,991		42,578		19,005		81		119,655
Rationalization charges	5,298		5,246		167		—		10,711
Segment income	139,481		104,249		51,730		(15,957)		279,503
Six Months Ended June 30, 2020
Net sales	$	767,619	$	1,105,709	$	333,526	$	—	$	2,206,854
Depreciation and amortization(1)	42,150		41,026		18,840		79		102,095
Rationalization charges	1,442		3,116		183		—		4,741
Segment income	103,810		119,261		45,032		(34,728)		233,375

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(1)Depreciation and amortization excludes amortization of debt discount and debt issuance costs of $1.4 million and $1.1 million for the three months ended June 30, 2021 and 2020, respectively and $2.7 million and $2.1 million for the six months ended June 30, 2021 and 2020, respectively.

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

	Three Months Ended				Six Months Ended
	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
	(Dollars in thousands)
Total segment income	$	152,954	$	131,234	$	279,503	$	233,375
Interest and other debt expense	26,406		25,837		53,712		50,807
Income before income taxes	$	126,548	$	105,397	$	225,791	$	182,568

Sales and segment income of part of our Dispensing and Specialty Closures segment and our Metal Container segment 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.