SEGMENT INFORMATION

6 Months Ended

Jun. 30, 2012

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 9 — SEGMENT INFORMATION

The Company operates in the packaging components industry, which includes the development, manufacture and sale of consumer product dispensing systems.  The Company is organized into three reporting segments.  Operations that sell dispensing systems primarily to the personal care, fragrance/cosmetic and household markets form the Beauty + Home segment.  Operations that sell dispensing systems primarily to the prescription drug and consumer health care markets form the Pharma segment.  Operations that sell dispensing systems 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 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.  The Company evaluates performance of its business segments and allocates resources based upon segment income.  Segment income is defined as earnings before interest expense in excess of interest income, certain corporate expenses and income taxes.

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Total Revenue:
Beauty + Home	$	372,853		$	406,699		$	753,689		$	786,530
Pharma	133,033			139,077			273,234			271,272
Food + Beverage	75,684			74,525			151,506			143,249
Corporate & Other	—			36			—			82
Total Revenue	581,570			620,337			1,178,429			1,201,135
Less: Intersegment Sales:
Beauty + Home	$	3,569		$	3,961		$	7,254		$	7,530
Pharma	54			374			212			565
Food + Beverage	444			1,037			962			1,509
Corporate & Other	—			36			—			82
Total Intersegment Sales	$	4,067		$	5,408		$	8,428		$	9,688
Net Sales:
Beauty + Home	$	369,284		$	402,738		$	746,435		$	779,000
Pharma	132,979			138,703			273,022			270,707
Food + Beverage	75,240			73,488			150,544			141,740
Corporate & Other	—			—			—			—
Net Sales	$	577,503		$	614,929		$	1,170,001		$	1,191,447
Segment Income:
Beauty + Home	$	33,652		$	39,877		$	66,624		$	72,530
Pharma	31,110			40,369			70,482			79,257
Food + Beverage	7,853			8,613			14,641			16,185
Corporate & Other	(6,964		)	(8,900		)	(15,605		)	(18,670		)
Income before interest and taxes	$	65,651		$	79,959		$	136,142		$	149,302
Interest expense, net	(3,110		)	(3,063		)	(7,324		)	(6,131		)
Income before income taxes	$	62,541		$	76,896		$	128,818		$	143,171