Segment Information

6 Months Ended

Jun. 30, 2022

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, 2022
Net sales	$	602,431	$	754,396	$	186,954	$	—	$	1,543,781
Depreciation and amortization(1)	36,541		19,874		9,934		39		66,388
Rationalization charges	—		3,428		—		—		3,428
Segment income (2)	91,349		66,358		30,890		(30,580)		158,017
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
Six Months Ended June 30, 2022
Net sales	$	1,200,358	$	1,405,122	$	380,187	$	—	$	2,985,667
Depreciation and amortization(1)	73,160		40,938		19,817		81		133,996
Rationalization charges	—		4,702		105		—		4,807
Segment income (2)	178,662		104,367		55,584		(37,204)		301,409
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

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(1)Depreciation and amortization excludes amortization of debt discount and debt issuance costs of $1.3 million and $1.4 million for the three months ended June 30, 2022 and 2021, respectively, and $2.8 million and $2.7 million for the six months ended June 30, 2022 and 2021, respectively.

(2)Corporate includes a charge of $25.2 million for the settlement with the European Commission for each of the three and six months ended June 30, 2022.

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

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
	(Dollars in thousands)
Total segment income	$	158,017	$	152,954	$	301,409	$	279,503
Interest and other debt expense	28,660		26,406		59,490		53,712
Income before income taxes	$	129,357	$	126,548	$	241,919	$	225,791

Sales and segment income of our metal containers segment and of part of our dispensing and specialty closures segment are dependent, in part, upon the vegetable and fruit harvests in the United States and, to a lesser extent, in a variety of national growing regions in Europe. 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.