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SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2018
SEGMENT INFORMATION  
Financial information regarding the Company's reportable segments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 
2018

 
2017

    
2018

 
2017

 

Total Sales:

 

 

 

 

 

 

 

 

 

 

 

 

Beauty + Home

$

346,040

 

$

338,068

              

$

1,103,664

 

$

992,476

   

Pharma

 

227,691

 

 

199,551

 

 

699,105

 

 

598,168

 

Food + Beverage

 

97,297

 

 

91,852

 

 

294,362

 

 

269,159

 

Total Sales

 

671,028

 

 

629,471

 

 

2,097,131

 

 

1,859,803

 

Less: Intersegment Sales:

 

 

 

 

 

 

 

 

 

 

 

 

Beauty + Home

$

4,280

 

$

4,320

 

$

15,195

 

$

14,163

 

Pharma

 

176

 

 

 4

 

 

254

 

 

 7

 

Food + Beverage

 

797

 

 

821

 

 

1,949

 

 

2,245

 

Total Intersegment Sales

$

5,253

 

$

5,145

 

$

17,398

 

$

16,415

 

Net Sales:

 

 

 

 

 

 

 

 

 

 

 

 

Beauty + Home

$

341,760

 

$

333,748

 

$

1,088,469

 

$

978,313

 

Pharma

 

227,515

 

 

199,547

 

 

698,851

 

 

598,161

 

Food + Beverage

 

96,500

 

 

91,031

 

 

292,413

 

 

266,914

 

Net Sales

$

665,775

 

$

624,326

 

$

2,079,733

 

$

1,843,388

 

Adjusted EBITDA (1):

 

 

 

 

 

 

 

 

 

 

 

 

Beauty + Home

$

42,174

 

$

42,627

 

$

141,155

 

$

129,265

 

Pharma

 

84,516

 

 

66,260

 

 

250,709

 

 

204,750

 

Food + Beverage

 

15,482

 

 

18,116

 

 

46,284

 

 

49,756

 

Corporate & Other, unallocated

 

(7,954)

 

 

(8,778)

 

 

(28,576)

 

 

(26,924)

 

Acquisition-related costs (2)

 

(10,369)

 

 

 —

 

 

(12,932)

 

 

 —

 

Restructuring Initiatives (3)

 

(23,852)

 

 

 —

 

 

(48,002)

 

 

 —

 

Depreciation and amortization

 

(41,857)

 

 

(40,087)

 

 

(123,133)

 

 

(114,660)

 

Interest Expense

 

(8,735)

 

 

(9,733)

 

 

(24,754)

 

 

(25,707)

 

Interest Income

 

1,537

 

 

1,113

 

 

6,306

 

 

2,086

 

Income before Income Taxes

$

50,942

 

$

69,518

 

$

207,057

 

$

218,566

 

(1)

The Company evaluates performance of our business units and allocates resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring and acquisition-related costs.

(2)

Acquisition-related costs include transaction costs and purchase accounting adjustments related to inventory for acquisitions (see Note 17 – Acquisitions for further details).

(3)

Restructuring Initiatives includes expense items for the three and nine months ended September 30, 2018 as follows (see Note 18 – Restructuring Initiatives for further details):

 

Restructuring Initiatives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

 
2018

    
2017

    
2018

    
2017

 

Restructuring Initiatives by Segment

 

 

 

 

 

 

 

 

 

 

 

 

 

Beauty + Home

 

$

18,854

 

$

 —

 

$

38,501

 

$

 —

 

Pharma

 

 

2,008

 

 

 —

 

 

3,596

 

 

 —

 

Food + Beverage

 

 

2,638

 

 

 —

 

 

4,307

 

 

 —

 

Corporate & Other

 

 

352

 

 

 —

 

 

1,598

 

 

 —

 

Total Restructuring Initiatives

 

$

23,852

 

$

 —

 

$

48,002

 

$

 —