SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2015

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 13 – 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 systems primarily to the personal care, beauty and home care markets form the Beauty + Home segment.  Operations that sell dispensing systems primarily to the prescription drug, consumer health care and injectables 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, 2014.  Segment income is defined as earnings before net interest expense, certain corporate expenses and income taxes.

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

Three months ended March 31,	2015			2014
Total Revenue:
Beauty + Home	$	334,794		$	398,540
Pharma	178,669			194,349
Food + Beverage	81,920			90,626
Total Revenue	$	595,383		$	683,515
Less: Intersegment Sales:
Beauty + Home	$	5,380		$	7,304
Pharma	--			--
Food + Beverage	192			160
Total Intersegment Sales	$	5,572		$	7,464
Net Sales:
Beauty + Home	$	329,414		$	391,236
Pharma	178,669			194,349
Food + Beverage	81,728			90,466
Net Sales	$	589,811		$	676,051
Segment Income (1):
Beauty + Home	$	23,375		$	27,781
Pharma	52,001			52,482
Food + Beverage	9,050			9,080
Corporate & Other	(11,159		)	(11,798		)
Income before interest and taxes	$	73,267		$	77,545
Interest expense, net	(5,572		)	(3,865		)
Income before income taxes	$	67,695		$	73,680

(1) The Company evaluates performance of our business units and allocates resources based upon segment income. Segment income is defined as earnings before net interest expense, certain corporate expenses and income taxes.