SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2013

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 17 SEGMENT INFORMATION

 The Company operates in the packaging components industry, which includes the development, manufacture and sale of consumer product dispensing solutions. The Company is organized into three reporting segments. Operations that sell dispensing solutions primarily to the personal care, beauty and home care markets form the Beauty + Home segment. Operations that sell dispensing solutions to the prescription drug, consumer health care and injectables markets form the Pharma segment. Operations that sell dispensing solutions primarily to the food and beverage markets form the Food + Beverage segment.

        The accounting policies of the segments are the same as those described in Note 1, Summary of Significant Accounting Policies. The Company evaluates performance of its business segments and allocates resources based upon segment income. Segment income is defined as earnings before net interest expense, certain corporate expenses, restructuring initiatives and income taxes.

        Financial information regarding the Company's reportable segments is shown below:

Years Ended December 31,	2013			2012			2011
Total Sales:
Beauty + Home	$	1,501,611		$	1,468,599		$	1,531,479
Pharma		709,058			588,853			554,708
Food + Beverage		323,469			288,995			269,968
Corporate & Other		—			—			7
Total Sales	$	2,534,138		$	2,346,447		$	2,356,162
Less: Intersegment Sales:
Beauty + Home	$	13,466		$	14,659		$	15,174
Pharma		284			160			778
Food + Beverage		375			592			3,020
Corporate & Other		—			—			7
Total Intersegment Sales	$	14,125		$	15,411		$	18,979
Net Sales:
Beauty + Home	$	1,488,145		$	1,453,940		$	1,516,305
Pharma		708,774			588,693			553,930
Food + Beverage		323,094			288,403			266,948
Corporate & Other		—			—			—
Net Sales	$	2,520,013		$	2,331,036		$	2,337,183
Segment Income (1):
Beauty + Home	$	109,272		$	123,527		$	130,818
Pharma		189,689			141,912			164,390
Food + Beverage		35,186			30,415			27,801
Restructuring Initiatives and Related Depreciation		(14,525	)		(4,678	)		71
Corporate & Other		(37,958	)		(33,849	)		(36,560	)
Income before interest and taxes	$	281,664		$	257,327		$	286,520
Interest expense, net		(17,281	)		(15,954	)		(11,578	)
Income before income taxes	$	264,383		$	241,373		$	274,942
Depreciation and Amortization (1):
Beauty + Home	$	83,328		$	82,828		$	90,038
Pharma		39,812			33,122			28,084
Food + Beverage		18,871			15,605			13,413
Restructuring Initiatives		2,725			1,576			—
Corporate & Other		5,220			3,891			2,708
Depreciation and Amortization	$	149,956		$	137,022		$	134,243
Capital Expenditures:
Beauty + Home	$	81,247		$	97,010		$	101,913
Pharma		32,643			24,953			26,911
Food + Beverage		19,339			32,282			47,135
Corporate & Other		18,281			19,808			3,733
Capital Expenditures	$	151,510		$	174,053		$	179,692
Total Assets:
Beauty + Home	$	1,318,933		$	1,240,101		$	1,232,009
Pharma		676,420			659,132			404,939
Food + Beverage		253,774			233,553			199,170
Corporate & Other		248,635			191,626			323,177
Total Assets	$	2,497,762		$	2,324,412		$	2,159,295

(1)

The Company evaluates performance of its business units and allocates resources based upon segment income. Segment income is defined as earnings before net interest expense, certain corporate expenses, restructuring initiatives and income taxes. Restructuring Initiatives and related Depreciation includes the following income/(expense) items for the twelve months ended December 31, 2013, 2012 and 2011 as follows:

Years Ended December 31,	2013			2012			2011
European Restructuring Plan
Depreciation	$	2,725		$	1,576		$	—
Employee Severance and Other Costs		11,844			3,314			—
Prior Year Initiatives		(44	)		(212	)		(71	)
Total Restructuring Initiatives and Related Depreciation Expense	$	14,525		$	4,678		$	(71	)
Restructuring Initiatives and Related Depreciation Expense by Segment
Beauty + Home	$	14,548		$	4,787		$	(70	)
Pharma		—			—			—
Food + Beverage		(23	)		(109	)		(1	)
Total Restructuring Initiatives and Related Depreciation Expense	$	14,525		$	4,678		$	(71	)

GEOGRAPHIC INFORMATION

 The following are net sales and long-lived asset information by geographic area and product information for the years ended December 31, 2013, 2012 and 2011:

	2013		2012		2011
Net Sales to Unaffiliated Customers (1):
United States	$	634,418	$	650,637	$	636,060
Europe:
France		810,528		650,226		630,172
Germany		339,858		311,205		308,847
Italy		136,617		144,163		168,885
Other Europe		165,038		163,695		232,132
Total Europe		1,452,041		1,269,289		1,340,036
Other Foreign Countries		433,554		411,110		361,087
Total	$	2,520,013	$	2,331,036	$	2,337,183
Plant, Property & Equipment:
United States	$	226,917	$	191,697	$	174,029
Europe:
France		263,913		251,015		199,975
Germany		156,970		137,203		136,136
Italy		57,729		65,743		68,684
Other Europe		72,297		72,404		64,921
Total Europe		550,909		526,365		469,716
Other Foreign Countries		86,836		130,171		110,970
Total	$	864,662	$	848,233	$	754,715
Product Net Sales Information:
Pumps	$	1,093,514	$	1,044,226	$	1,114,276
Closures		594,135		605,493		615,243
Valves		327,635		327,251		316,900
Injectables (2)		142,116		56,465		—
Other		362,613		297,601		290,764
Total	$	2,520,013	$	2,331,036	$	2,337,183

(1)

Sales are attributed to countries based upon where the sales invoice to unaffiliated customers is generated.

(2)

Injectables represent six month sales in 2012 from the date of acquisition.

No single customer represents 10% or more of the Company's net sales in 2013, 2012 or 2011.