SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2015

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 14 – 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.

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Total Revenue:
Beauty + Home	$	326,967		$	384,604		$	986,502		$	1,174,359
Pharma	175,427			179,191			537,396			569,230
Food + Beverage	89,724			94,118			263,767			274,936
Total Revenue	592,118			657,913			1,787,665			2,018,525
Less: Intersegment Sales:
Beauty + Home	$	5,329		$	5,699		$	16,326		$	18,992
Pharma	--			--			--			--
Food + Beverage	499			272			963			909
Total Intersegment Sales	$	5,828		$	6,466		$	17,289		$	19,901
Net Sales:
Beauty + Home	$	321,638		$	378,905		$	970,176		$	1,155,367
Pharma	175,427			179,191			537,396			569,230
Food + Beverage	89,225			93,846			262,804			274,027
Net Sales	$	586,290		$	651,942		$	1,770,376		$	1,998,624
Segment Income (1):
Beauty + Home	$	27,961		$	25,399		$	78,529		$	80,378
Pharma	52,941			49,314			160,404			154,589
Food + Beverage	13,236			11,713			37,277			33,209
Corporate & Other	(7,575		)	(8,364		)	(22,535		)	(28,664		)
Income before interest and taxes	$	86,563		$	78,062		$	253,675		$	239,512
Interest expense, net	(7,186		)	(3,946		)	(20,848		)	(12,010		)
Income before income taxes	$	79,377		$	74,116		$	232,827		$	227,502

(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.