BUSINESS SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Reportable Business Segment Information

Reportable segment information for each of the past three years is as follows:

 

	Dispensing and Specialty Closures		Metal Containers		Custom Containers		Corporate		Total
	(Dollars in thousands)
2023
Net sales	$	2,221,430	$	3,140,830	$	625,945	$	—	$	5,988,205
Income before interest and income taxes	281,030		287,380		52,836		(25,810)		595,436
Adjusted EBIT	340,644		282,402		63,317		(25,810)		660,553
Depreciation	101,664		73,558		34,846		74		210,142
Segment assets	4,437,833		2,178,416		898,582		46,270		7,561,101
Capital expenditures	110,073		95,260		20,474		1,003		226,810
2022
Net sales	$	2,316,690	$	3,371,776	$	723,033	$	—	$	6,411,499
Income before interest and income taxes	323,001		234,156		92,478		(47,673)		601,962
Adjusted EBIT	359,753		282,214		86,809		(22,470)		706,306
Depreciation	98,214		76,537		35,325		159		210,235
Segment assets	4,391,599		1,965,415		898,308		43,911		7,299,233
Capital expenditures	105,759		81,533		28,462		7		215,761
2021
Net sales	$	2,160,484	$	2,808,065	$	708,556	$	—	$	5,677,105
Income before interest and income taxes	262,148		253,736		92,359		(32,130)		576,113
Adjusted EBIT	295,194		235,317		86,462		(27,171)		589,802
Depreciation	87,375		83,756		34,499		157		205,787
Segment assets	4,429,186		2,319,982		888,715		34,490		7,672,373
Capital expenditures	113,601		78,462		40,196		5		232,264

Reconciliation of Income Before Income Taxes from Segment Income from Operations

Total adjusted EBIT is reconciled to income before income taxes as follows:

	2023		2022		2021
	(Dollars in thousands)
Total adjusted EBIT	$	660,553	$	706,306	$	589,802
Less:
Acquired intangible asset amortization expense	53,091		52,553		44,573
Other pension expense (income) for U.S. pension plans	3,614		(47,494)		(53,469)
Rationalization charges	8,412		74,082		15,010
Purchase accounting write-up of inventory	—		—		2,617
European Commission settlement	—		25,203		—
Costs attributed to announced acquisitions	—		—		4,958
Income before interest and income taxes	595,436		601,962		576,113
Interest and other debt expense	173,315		127,823		109,800
Income before income taxes	$	422,121	$	474,139	$	466,313

Reconciliation of Total Segment Assets to Total Assets

Total segment assets at December 31 are reconciled to total assets as follows:

	2023		2022
	(Dollars in thousands)
Total segment assets	$	7,561,101	$	7,299,233
Other assets	50,135		46,524
Total assets	$	7,611,236	$	7,345,757

Financial Information Relating to Operations by Geographic Area

Financial information relating to our operations by geographic area is as follows:

	2023		2022		2021
	(Dollars in thousands)
Net sales:
United States	$	4,377,928	$	4,805,266	$	4,131,375
Foreign:
Europe	1,201,534		1,299,616		1,166,557
Other	408,743		306,617		379,173
Total net sales from foreign operations	1,610,277		1,606,233		1,545,730
Total net sales	$	5,988,205	$	6,411,499	$	5,677,105
Long-lived assets:
United States	$	1,258,531	$	1,286,034
Foreign:
Europe	540,254		481,648
Other	162,800		163,815
Total long-lived assets at foreign operations	703,054		645,463
Total long-lived assets	$	1,961,585	$	1,931,497