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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We are organized into three reporting segments. Operations that sell proprietary dispensing systems, drug delivery systems, sealing solutions and services to the prescription drug, consumer healthcare, injectables, active material science solutions and digital health markets form our Pharma segment. Operations that sell dispensing systems and sealing solutions to the fragrance, facial skincare, color cosmetics, personal care and home care markets form our Beauty segment. Operations that sell dispensing closures, sealing solutions and food service trays to the food, beverage, personal care, home care, beauty and other markets form our Closures segment. The Pharma and Beauty segments are named for the markets they serve with multiple product platforms, while the Closures segment is named primarily for a single product platform that serves all available markets.
The accounting policies of the segments are the same as those described in Part II, Item 8, Note 1 - Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year ended December 31, 2025. Our chief operating decision maker ("CODM") is our President and Chief Executive Officer. Our CODM is provided operating reports from each of our reportable segments which include or can be used to easily derive significant segment expenses identified as selling, research & development and administrative expenses and cost of sales by segment. Additionally, the other segment items primarily consist of foreign currency gains or losses from operations and other non-operating activity. Our CODM evaluates performance of our reporting segments and allocates resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, gain on remeasurement of equity method investment, net unrealized investment gains and losses related to observable market price changes on equity securities, Russia deconsolidation impact, and other special items if any. Adjusted EBITDA provides useful information regarding the performance of each segment as it reflects the profitability and performance of each segment on a consistent and comparable basis, and our CODM considers budget-to-actual variances on a monthly basis when making decisions supporting capital resource allocation, including in connection with development, acquisition and disposition activities in each segment.
Financial information regarding our reporting segments is shown below:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Total Sales:
Pharma$454,194 $445,656 $1,351,423 $1,298,170 
Beauty365,954 334,929 1,115,538 989,481 
Closures209,419 189,732 594,171 553,931 
Total Sales$1,029,567 $970,317 $3,061,132 $2,841,582 
Less: Intersegment Sales:
Pharma$224 $246 $726 $704 
Beauty8,582 7,161 27,077 21,157 
Closures1,642 1,779 4,834 5,276 
Total Intersegment Sales$10,448 $9,186 $32,637 $27,137 
Net Sales:
Pharma$453,970 $445,410 $1,350,697 $1,297,466 
Beauty357,372 327,768 1,088,461 968,324 
Closures207,777 187,953 589,337 548,655 
Net Sales$1,019,119 $961,131 $3,028,495 $2,814,445 
Less:
Cost of Sales (exclusive of depreciation and amortization):
Pharma228,500 221,402 700,573 651,418 
Beauty266,514 243,004 808,864 708,430 
Closures151,847 135,246 430,594 390,999 
Selling, Research & Development and Administrative:
Pharma63,322 63,539 196,583 186,725 
Beauty51,025 47,746 156,501 142,896 
Closures25,584 22,895 75,236 69,765 
Other Segment Items:
Pharma(2,990)(5,300)(11,725)(5,727)
Beauty(877)(2,731)(2,838)(6,962)
Closures(1,831)(525)(2,176)(1,589)
Adjusted EBITDA (1):
Pharma$165,138 $165,769 $465,266 $465,050 
Beauty40,710 39,749 125,934 123,960 
Closures32,177 30,337 85,683 89,480 
Adjusted EBITDA for Reportable Segments$238,025 $235,855 $676,883 $678,490 
Corporate & Other, unallocated(20,813)(13,255)(58,199)(54,144)
Acquisition-related costs (2)— (1,896)(228)(2,240)
Restructuring Initiatives (3)(2,208)(2,168)(4,713)(5,789)
Net unrealized investment gain (loss) (4)(1,011)(161)(1,248)845 
Russia deconsolidation impact (5)(61,161)— (61,161)— 
Gain from remeasurement of equity method investment (6)— 26,518 — 26,518 
Other special items (7)(3,095)(4,400)(10,899)(4,400)
Depreciation and amortization(75,544)(75,234)(230,910)(210,785)
Interest Expense(15,790)(13,532)(48,733)(35,733)
Interest Income1,930 2,400 8,359 7,094 
Income before Income Taxes$60,333 $154,127 $269,151 $399,856 
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Depreciation and Amortization:
Pharma$35,911 $35,107 $110,814 $100,424 
Beauty23,965 24,332 73,438 65,869 
Closures14,561 14,921 43,312 41,943 
Depreciation and Amortization for Reportable Segments74,437 74,360 227,564 208,236 
Corporate & Other1,107 874 3,346 2,549 
Depreciation and Amortization$75,544 $75,234 $230,910 $210,785 
Capital Expenditures:
Pharma
$29,080 $38,150 $85,665 $97,725 
Beauty
24,693 12,727 63,666 44,317 
Closures
14,114 8,788 36,008 34,873 
Capital Expenditures for Reportable Segments67,887 59,665 185,339 176,915 
Corporate & Other1,429 3,681 7,561 9,749 
Transfer of Corporate Expenditures (8)(310)(33)(935)(3,064)
Capital Expenditures$69,006 $63,313 $191,965 $183,600 
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(1)We evaluate performance of our reporting segments and allocate resources based upon Adjusted EBITDA. Adjusted EBITDA is defined as earnings before net interest, taxes, depreciation, amortization, unallocated corporate expenses, restructuring initiatives, acquisition-related costs, gain on remeasurement of equity method investment, net unrealized investment gains and losses related to observable market price changes on equity securities, Russia deconsolidation impact, and other special items.
(2)Acquisition-related costs include transaction costs (and purchase accounting adjustments related to acquisitions and investments).
(3)Restructuring Initiatives includes expense items for the three and nine months ended September 30, 2026 and 2025 as follows (see Note 18 – Restructuring Initiatives for further details):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Restructuring Initiatives by Segment:
Pharma$406 $919 $345 $1,177 
Beauty1,827 550 4,545 1,571 
Closures(25)702 311 2,944 
Corporate & Other— (3)(488)97 
Total Restructuring Initiatives$2,208 $2,168 $4,713 $5,789 
(4)Net unrealized investment gain (loss) represents the change in fair value of our investment in PCT (see Note 17 – Investment in Equity Securities for further details).
(5)Russia deconsolidation impact represents $58.0 million loss on Russia deconsolidation on the Condensed Consolidated Statements of Income, $2.6 million for CECL reserves placed on uncollectible accounts, and $0.5 million for legal fees recorded in selling, research & development and administrative on the Condensed Consolidated Statements of Income.
(6)The gain from remeasurement of equity method investment represents the remeasurement of our previously held minority equity interest in BTY at fair value.
(7)Other special items includes costs related to non-ordinary-course litigation regarding the matters disclosed under "Legal Proceedings" within Note 12 - Commitments and Contingencies, as these costs do not reflect our core operating performance.
(8)The transfer of corporate 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.