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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Net sales $ 3,509,227 $ 3,071,545 $ 3,066,759
Cost of goods sold 2,990,637 2,599,116 2,605,629
Gross profit 518,590 472,429 461,130
Selling, general and administrative expenses 156,752 166,896 161,041
Rationalization charges 7,717 22,214 1,491
Income from operations 354,121 [1],[2] 283,319 [3],[4] 298,598
Interest and other debt expense before loss on early extinguishment of debt 62,978 54,091 49,744
Loss on early extinguishment of debt 976 7,548 1,255
Interest and other debt expense 63,954 61,639 50,999
Income before income taxes 290,167 221,680 247,599
Provision for income taxes 96,994 77,034 88,190
Net income $ 193,173 $ 144,646 $ 159,409
Basic net income per share $ 2.76 $ 1.91 $ 2.09
Diluted net income per share $ 2.75 $ 1.89 $ 2.07
Dividends per share $ 0.44 $ 0.42 $ 0.38
[1] Metal containers includes a charge for the resolution of a past product liability dispute of $3.3 million.
[2] Corporate includes income of $25.2 million for proceeds received as a result of the termination of the merger agreement with Graham Packaging, net of costs associated with certain corporate development activities.
[3] Closures includes a charge of $3.2 million for the remeasurement of net assets in Venezuela.
[4] Corporate includes costs attributable to announced acquisitions of $2.7 million.