v3.26.3
Segment Information
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Our chief operating decision maker, who is our Chief Executive Officer and President, evaluates performance of our business segments and allocates resources based on the adjusted EBIT of our business segments. Adjusted EBIT is not a defined term under GAAP. We define adjusted EBIT as income before interest and income taxes excluding acquired intangible asset amortization expense, other pension (income) expense for U.S. pension plans and closed facilities, rationalization charges and costs attributed to announced acquisitions and including, as applicable, equity in earnings of affiliates, net of tax. Adjusted EBIT should not be considered in isolation or as a substitute for income before interest and income taxes or any other financial data prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies.
Reportable segment information was as follows:
Dispensing and Specialty ClosuresMetal
Containers		Custom
Containers		CorporateTotal
(Dollars in thousands)
Three Months Ended September 30, 2026
Net sales$699,156 $1,174,252 $166,783 $— $2,040,191 
Segment expenses and other (a)
588,799 1,069,064 143,110 5,062 1,806,035 
Equity in earnings of affiliates, net of tax842 — — — 842 
Adjusted EBIT111,199 105,188 23,673 (5,062)234,998 
Depreciation39,826 20,126 7,777 118 67,847 
Capital expenditures48,397 26,639 7,715 12 82,763 
Three Months Ended September 30, 2025
Net sales$690,382 $1,158,227 $160,130 $— $2,008,739 
Segment expenses and other (a)
577,639 1,062,367 137,045 11,055 1,788,106 
Equity in earnings of affiliates, net of tax775 — — — 775 
Adjusted EBIT113,518 95,860 23,085 (11,055)221,408 
Depreciation38,458 19,853 8,501 115 66,927 
Capital expenditures54,527 19,331 6,144 96 80,098 
Nine Months Ended September 30, 2026
Net sales$2,098,340 $2,663,058 $483,320 $— $5,244,718 
Segment expenses and other (a)
1,786,493 2,442,166 410,780 36,089 4,675,528 
Equity in earnings of affiliates, net of tax 3,022 — — — 3,022 
Adjusted EBIT314,869 220,892 72,540 (36,089)572,212 
Depreciation119,760 60,377 23,838 355 204,330 
Segment assets5,752,466 2,761,652 759,471 43,935 9,317,524 
Capital expenditures133,228 76,957 19,247 19 229,451 
Nine Months Ended September 30, 2025
Net sales$2,063,672 $2,462,710 $488,179 $— $5,014,561 
Segment expenses and other (a)
1,745,518 2,246,523 415,581 36,782 4,444,404 
Equity in earnings of affiliates, net of tax2,492 — — — 2,492 
Adjusted EBIT320,646 216,187 72,598 (36,782)572,649 
Depreciation111,946 52,745 25,949 263 190,903 
Segment assets5,865,522 2,763,764 790,925 43,355 9,463,566 
Capital expenditures146,668 68,302 19,809 1,012 235,791 
(a)    Segment expenses and other includes cost of goods sold, selling, general and administrative expenses, and other pension and postretirement (income) expense and excludes acquired intangible asset amortization expense, other pension (income) expense only for U.S. pension plans and closed facilities, and costs attributed to announced acquisitions.
Total adjusted EBIT is reconciled to income before income taxes as follows:
Three Months EndedNine Months Ended
Sept. 30, 2026Sept. 30, 2025Sept. 30, 2026Sept. 30, 2025
(Dollars in thousands)
Total adjusted EBIT $234,998 $221,408 $572,212 $572,649 
Less:
Acquired intangible asset amortization expense15,927 15,948 48,125 47,307 
Other pension (income) for U.S. pension plans and closed
    facilities		(846)(1,162)(2,856)(3,012)
Equity in earnings of affiliates, net of tax842 775 3,022 2,492 
Rationalization charges17,070 7,189 44,276 28,012 
Costs attributed to announced acquisitions10,333 — 10,333 1,117 
Income before interest and income taxes191,672 198,658 469,312 496,733 
Interest and other debt expense47,257 49,989 136,823 141,616 
Income before income taxes$144,415 $148,669 $332,489 $355,117 

Net sales and adjusted EBIT of our metal containers segment and of part of our dispensing and specialty closures segment are dependent, in part, upon the vegetable and fruit harvests in the United States and, to a lesser extent, in a variety of national growing regions in Europe. The size and quality of these harvests varies from year to year, depending in large part upon the weather conditions in applicable regions. Because of the seasonality of the harvests, we have historically experienced higher unit sales volume in the third quarter of our fiscal year and generated a disproportionate amount of our annual adjusted EBIT during that quarter.