SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2015

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 17 SEGMENT INFORMATION

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,	2015		2014		2013
Total Sales:
Beauty + Home	$	1,291,545	$	1,522,444	$	1,501,611
Pharma		712,220		751,226		709,058
Food + Beverage		335,365		349,297		323,469
Total Sales	$	2,339,130	$	2,622,967	$	2,534,138
Less: Intersegment Sales:
Beauty + Home	$	18,599	$	24,147	$	13,466
Pharma		—		—		284
Food + Beverage		3,382		1,011		375
Total Intersegment Sales	$	21,981	$	25,158	$	14,125
Net Sales:
Beauty + Home	$	1,272,946	$	1,498,297	$	1,488,145
Pharma		712,220		751,226		708,774
Food + Beverage		331,983		348,286		323,094
Net Sales	$	2,317,149	$	2,597,809	$	2,520,013
Segment Income:
Beauty + Home	$	98,707	$	98,368	$	109,272
Pharma		210,509		204,698		189,689
Food + Beverage		42,731		37,728		35,186
Restructuring Initiatives and Related Depreciation (1)		—		—		(14,525)
Corporate & Other		(28,357)		(38,261)		(37,958)
Income before interest and taxes	$	323,590	$	302,533	$	281,664
Interest expense, net		(29,019)		(16,232)		(17,281)
Income before income taxes	$	294,571	$	286,301	$	264,383
Depreciation and Amortization (1):
Beauty + Home	$	75,289	$	85,469	$	83,328
Pharma		36,008		41,690		39,812
Food + Beverage		21,347		20,179		18,871
Restructuring Initiatives		—		—		2,725
Corporate & Other		6,249		4,880		5,220
Depreciation and Amortization	$	138,893	$	152,218	$	149,956
Capital Expenditures:
Beauty + Home	$	61,156	$	76,544	$	81,247
Pharma		48,133		37,455		32,643
Food + Beverage		25,337		32,148		19,339
Corporate & Other		14,697		15,793		18,281
Capital Expenditures	$	149,323	$	161,940	$	151,510
Total Assets:
Beauty + Home	$	1,086,482	$	1,193,370	$	1,318,933
Pharma		591,500		619,304		676,420
Food + Beverage		250,369		263,742		253,774
Corporate & Other		510,375		360,774		248,635
Total Assets	$	2,438,726	$	2,437,190	$	2,497,762

(1) Restructuring Initiatives and related Depreciation includes the following income/(expense) items for the twelve months ended December 31, 2015, 2014 and 2013 as follows:

Years Ended December 31,	2015		2014		2013
European Restructuring Plan
Depreciation	$	—	$	—	$	2,725
Employee Severance and Other Costs		—		—		11,844
Prior Year Initiatives		—		—		(44)
Total Restructuring Initiatives and Related Depreciation Expense	$	—	$	—	$	14,525
Restructuring Initiatives and Related Depreciation Expense by Segment
Beauty + Home	$	—	$	—	$	14,548
Pharma		—		—		—
Food + Beverage		—		—		(23)
Total Restructuring Initiatives and Related Depreciation Expense	$	—	$	—	$	14,525

GEOGRAPHIC INFORMATION

The following are net sales and long‑lived asset information by geographic area and product information for the years ended December 31, 2015, 2014 and 2013:

	2015		2014		2013
Net Sales to Unaffiliated Customers (1):
United States	$	633,522	$	642,060	$	634,418
Europe:
France		712,470		850,817		810,528
Germany		326,782		363,898		339,858
Italy		125,511		141,808		136,617
Other Europe		122,546		150,469		165,038
Total Europe		1,287,309		1,506,992		1,452,041
Other Foreign Countries		396,318		448,757		433,554
Total	$	2,317,149	$	2,597,809	$	2,520,013
Plant, Property & Equipment:
United States	$	175,367	$	192,265	$	226,917
Europe:
France		216,966		228,049		263,913
Germany		125,186		136,491		156,970
Italy		43,631		48,940		57,729
Other Europe		54,483		57,946		72,297
Total Europe		440,266		471,426		550,909
Other Foreign Countries		149,750		147,964		86,836
Total	$	765,383	$	811,655	$	864,662
Product Net Sales Information:
Pumps	$	991,583	$	1,111,536	$	1,093,514
Closures		558,212		611,144		594,135
Valves		306,367		350,106		327,635
Injectables		130,503		143,631		142,116
Other		330,484		381,392		362,613
Total	$	2,317,149	$	2,597,809	$	2,520,013

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

No single customer represents 10% or more of the Company’s net sales in 2015, 2014 or 2013.