Business Segment Information

3 Months Ended

Mar. 31, 2012

Business Segment Information

Note 12.               Business Segment Information

Reportable business segment information for the three months ended March 31 is as follows:

	Metal				Plastic
	Containers		Closures		Containers		Corporate			Total
	(Dollars in thousands)
2012
Net sales	$	444,885	$	162,965	$	160,507	$	-		$	768,357
Depreciation and amortization(1)		21,661		8,271		10,521		418			40,871
Rationalization charges		-		2,141		1,462		-			3,603
Segment income from operations		42,017		18,020		8,919		(3,194	)		65,762
2011
Net sales	$	390,483	$	160,042	$	152,562	$	-		$	703,087
Depreciation and amortization(1)		17,823		8,116		11,117		422			37,478
Rationalization charges		-		1,076		656		-			1,732
Segment income from operations(2)		38,363		15,816		6,316		(6,853	)		53,642

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(1)   Depreciation and amortization excludes amortization of debt discount and issuance costs of $1.3 million and $0.8 million for the three months ended March 31, 2012 and 2011, respectively.

(2)   Income from operations for corporate includes costs attributable to announced acquisitions of $1.8 million.

Total segment income from operations is reconciled to income before income taxes for the three months ended March 31 as follows:

	2012		2011
	(Dollars in thousands)
Total segment income from operations	$	65,762	$	53,642
Interest and other debt expense		15,588		13,940
Income before income taxes	$	50,174	$	39,702

Sales and income from operations of our metal container and closures businesses 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 income from operations during that quarter.