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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We are organized into three reporting segments. Operations that sell dispensing systems, drug delivery systems, sealing solutions and services to the prescription drug, consumer health care, injectables, and active material science solutions markets form the Pharma segment. Operations that sell dispensing systems and sealing solutions primarily to the beauty, personal care and home care markets form the Beauty + Home segment. Operations that sell dispensing systems and sealing solutions to the food and beverage markets form the Food + Beverage segment.
The accounting policies of the segments are the same as those described in Part II, Item 8, Note 1 - Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year ended December 31, 2020. We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, net investment gains and losses related to observable market price changes on equity securities and other special items.
Financial information regarding our reporting segments is shown below:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202020212020
Total Sales:
Pharma$317,358 $317,610 $961,718 $921,085 
Beauty + Home378,158 342,710 1,098,176 979,645 
Food + Beverage138,735 106,667 381,356 305,991 
Total Sales$834,251 $766,987 $2,441,250 $2,206,721 
Less: Intersegment Sales:
Pharma$4,133 $1,852 $9,318 $6,872 
Beauty + Home4,070 5,479 16,896 18,068 
Food + Beverage606 503 1,808 1,770 
Total Intersegment Sales$8,809 $7,834 $28,022 $26,710 
Net Sales:
Pharma$313,225 $315,758 $952,400 $914,213 
Beauty + Home374,088 337,231 1,081,280 961,577 
Food + Beverage138,129 106,164 379,548 304,221 
Net Sales$825,442 $759,153 $2,413,228 $2,180,011 
Adjusted EBITDA (1):
Pharma$100,738 $112,436 $315,201 $324,877 
Beauty + Home43,789 34,733 117,055 92,954 
Food + Beverage22,379 20,351 61,995 53,543 
Corporate & Other, unallocated(12,745)(10,964)(40,311)(34,071)
Acquisition-related costs (2)(1,793)(221)(4,227)(6,087)
Restructuring Initiatives (3)(10,223)(3,415)(18,771)(15,585)
Net investment (loss) gain (4)(9,021)— 6,177 — 
Depreciation and amortization(59,280)(55,179)(174,508)(162,414)
Interest Expense(8,011)(8,851)(22,601)(25,973)
Interest Income401 249 1,406 599 
Income before Income Taxes$66,234 $89,139 $241,416 $227,843 
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(1)We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, net investment gains and losses related to observable market price changes on equity securities and other special items.
(2)Acquisition-related costs include transaction costs and purchase accounting adjustments related to acquisitions and investments (see Note 17 – Acquisitions and Note 18 – Investment in Equity Securities for further details).
(3)Restructuring Initiatives includes expense items for the three and nine months ended September 30, 2021 and 2020 as follows (see Note 19 – Restructuring Initiatives for further details):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2021202020212020
Restructuring Initiatives by Segment
Pharma$13 $300 $86 $158 
Beauty + Home5,442 3,144 7,995 15,375 
Food + Beverage131 (31)169 147 
Corporate & Other4,637 2 10,521 (95)
Total Restructuring Initiatives$10,223 $3,415 $18,771 $15,585 
(4)Net investment (loss) gain represents the change in fair value of our investment in PCT (see Note 18 – Investment in Equity Securities for further details).