SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2016

SEGMENT INFORMATION

SEGMENT INFORMATION

NOTE 17 SEGMENT INFORMATION

The Company is organized into three reporting segments. Operations that sell dispensing systems and sealing solutions primarily to the personal care, beauty and home care markets form the Beauty + Home segment. Operations that sell dispensing systems and sealing solutions to the prescription drug, consumer health care and injectables markets form the Pharma segment. Operations that sell dispensing systems and sealing 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 and income taxes.

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

Years Ended December 31,	2016		2015		2014
Total Sales:
Beauty + Home	$	1,278,151	$	1,291,545	$	1,522,444
Pharma		741,473		712,220		751,226
Food + Beverage		330,231		335,365		349,297
Total Sales	$	2,349,855	$	2,339,130	$	2,622,967
Less: Intersegment Sales:
Beauty + Home	$	17,065	$	18,599	$	24,147
Pharma		—		—		—
Food + Beverage		1,856		3,382		1,011
Total Intersegment Sales	$	18,921	$	21,981	$	25,158
Net Sales:
Beauty + Home	$	1,261,086	$	1,272,946	$	1,498,297
Pharma		741,473		712,220		751,226
Food + Beverage		328,375		331,983		348,286
Net Sales	$	2,330,934	$	2,317,149	$	2,597,809
Segment Income:
Beauty + Home	$	100,569	$	98,707	$	98,368
Pharma		219,039		210,509		204,698
Food + Beverage		37,697		42,731		37,728
Corporate & Other		(44,214)		(28,357)		(38,261)
Interest Expense	$	(35,237)	$	(34,615)	$	(21,029)
Interest Income		2,643		5,596		4,797
Income before Income Taxes	$	280,497	$	294,571	$	286,301
Depreciation and Amortization:
Beauty + Home	$	84,273	$	75,289	$	85,469
Pharma		39,776		36,008		41,690
Food + Beverage		23,891		21,347		20,179
Corporate & Other		6,862		6,249		4,880
Depreciation and Amortization	$	154,802	$	138,893	$	152,218
Capital Expenditures:
Beauty + Home	$	75,165	$	61,156	$	76,544
Pharma		58,970		48,133		37,455
Food + Beverage		21,533		25,337		32,148
Corporate & Other		17,490		23,149		27,299
Transfer of Corporate Technology Expenditures (1)		(44,172)		(8,452)		(11,506)
Capital Expenditures	$	128,986	$	149,323	$	161,940
Total Assets:
Beauty + Home	$	1,270,858	$	1,086,482	$	1,193,370
Pharma		831,569		591,500		619,304
Food + Beverage		259,282		250,369		263,742
Corporate & Other		245,076		508,694		360,774
Total Assets	$	2,606,785	$	2,437,045	$	2,437,190

(1) The transfer of corporate technology expenditures represents amounts of projects managed by corporate for the benefit of specific entities within each segment. Once the projects are complete, all related costs are allocated from corporate to and paid by the appropriate entity and the associated assets are then depreciated at the entity level.

GEOGRAPHIC INFORMATION

The following are net sales and long‑lived asset information by geographic area and product information for the years ended December 31, 2016, 2015 and 2014:

	2016		2015		2014
Net Sales to Unaffiliated Customers (1):
United States	$	619,814	$	633,522	$	642,060
Europe:
France		695,727		712,470		850,817
Germany		386,553		326,782		363,898
Italy		126,890		125,511		141,808
Other Europe		120,228		122,546		150,469
Total Europe		1,329,398		1,287,309		1,506,992
Other Foreign Countries		381,722		396,318		448,757
Total	$	2,330,934	$	2,317,149	$	2,597,809
Plant, Property & Equipment:
United States	$	175,578	$	175,367	$	192,265
Europe:
France		228,082		216,966		228,049
Germany		154,588		125,186		136,491
Italy		51,732		43,631		48,940
Other Europe		54,575		54,483		57,946
Total Europe		488,977		440,266		471,426
Other Foreign Countries		119,766		149,750		147,964
Total	$	784,321	$	765,383	$	811,655
Product Net Sales Information:
Pumps	$	1,028,720	$	991,583	$	1,111,536
Closures		525,421		558,212		611,144
Valves		288,563		306,367		350,106
Injectables		150,785		130,503		143,631
Other		337,445		330,484		381,392
Total	$	2,330,934	$	2,317,149	$	2,597,809

(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 2016, 2015 or 2014.