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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Silgan Holdings Inc | NASDAQ:SLGN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 44.50 | 43.79 | 45.29 | 0 | 01:00:00 |
[x]
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
[ ]
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
06-1269834
|
(State or other jurisdiction
|
(I.R.S. Employer
|
of incorporation or organization)
|
Identification No.)
|
|
|
4 Landmark Square
|
|
Stamford, Connecticut
|
06901
|
(Address of principal executive offices)
|
(Zip Code)
|
Large accelerated filer [ X ]
|
Accelerated filer [ ]
|
Non-accelerated filer [ ] (Do not check if a smaller reporting company)
|
Smaller reporting company [ ]
|
|
Emerging growth company [ ]
|
SILGAN HOLDINGS INC.
|
|
|
|
TABLE OF CONTENTS
|
|
|
|
|
Page No.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2017 |
|
March 31,
2016 |
|
Dec. 31, 2016
|
||||||
|
(unaudited)
|
|
(unaudited)
|
|
|
||||||
Assets
|
|
|
|
|
|
||||||
|
|
|
|
|
|
||||||
Current assets:
|
|
|
|
|
|
||||||
Cash and cash equivalents
|
$
|
350,621
|
|
|
$
|
66,614
|
|
|
$
|
24,690
|
|
Trade accounts receivable, net
|
331,668
|
|
|
338,933
|
|
|
288,197
|
|
|||
Inventories
|
712,854
|
|
|
752,971
|
|
|
602,963
|
|
|||
Prepaid expenses and other current assets
|
48,356
|
|
|
48,239
|
|
|
46,328
|
|
|||
Total current assets
|
1,443,499
|
|
|
1,206,757
|
|
|
962,178
|
|
|||
|
|
|
|
|
|
||||||
Property, plant and equipment, net
|
1,166,609
|
|
|
1,152,975
|
|
|
1,156,952
|
|
|||
Goodwill
|
607,004
|
|
|
615,956
|
|
|
604,714
|
|
|||
Other intangible assets, net
|
177,907
|
|
|
192,459
|
|
|
180,782
|
|
|||
Other assets, net
|
254,987
|
|
|
216,318
|
|
|
244,764
|
|
|||
|
$
|
3,650,006
|
|
|
$
|
3,384,465
|
|
|
$
|
3,149,390
|
|
|
|
|
|
|
|
||||||
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
||||||
Current liabilities:
|
|
|
|
|
|
|
|
|
|||
Revolving loans and current portion of long-term debt
|
$
|
580,247
|
|
|
$
|
449,512
|
|
|
$
|
217,127
|
|
Trade accounts payable
|
390,288
|
|
|
327,178
|
|
|
504,798
|
|
|||
Accrued payroll and related costs
|
42,943
|
|
|
44,850
|
|
|
46,275
|
|
|||
Accrued liabilities
|
79,514
|
|
|
112,814
|
|
|
93,625
|
|
|||
Total current liabilities
|
1,092,992
|
|
|
934,354
|
|
|
861,825
|
|
|||
|
|
|
|
|
|
||||||
Long-term debt
|
1,591,764
|
|
|
1,368,498
|
|
|
1,344,456
|
|
|||
Other liabilities
|
474,924
|
|
|
413,583
|
|
|
473,694
|
|
|||
|
|
|
|
|
|
||||||
Stockholders’ equity:
|
|
|
|
|
|
|
|
|
|||
Common stock
|
876
|
|
|
876
|
|
|
876
|
|
|||
Paid-in capital
|
252,128
|
|
|
240,204
|
|
|
249,763
|
|
|||
Retained earnings
|
1,571,711
|
|
|
1,462,236
|
|
|
1,558,594
|
|
|||
Accumulated other comprehensive loss
|
(216,110
|
)
|
|
(197,456
|
)
|
|
(223,856
|
)
|
|||
Treasury stock
|
(1,118,279
|
)
|
|
(837,830
|
)
|
|
(1,115,962
|
)
|
|||
Total stockholders’ equity
|
490,326
|
|
|
668,030
|
|
|
469,415
|
|
|||
|
$
|
3,650,006
|
|
|
$
|
3,384,465
|
|
|
$
|
3,149,390
|
|
|
|
|
||||||
|
|
2017
|
|
2016
|
||||
|
|
|
|
|
||||
Net sales
|
|
$
|
805,407
|
|
|
$
|
792,738
|
|
Cost of goods sold
|
|
680,841
|
|
|
678,861
|
|
||
Gross profit
|
|
124,566
|
|
|
113,877
|
|
||
Selling, general and administrative expenses
|
|
66,919
|
|
|
55,360
|
|
||
Rationalization charges
|
|
885
|
|
|
1,071
|
|
||
Income from operations
|
|
56,762
|
|
|
57,446
|
|
||
Interest and other debt expense before loss on early extinguishment of debt
|
|
20,418
|
|
|
16,455
|
|
||
Loss on early extinguishment of debt
|
|
2,677
|
|
|
—
|
|
||
Interest and other debt expense
|
|
23,095
|
|
|
16,455
|
|
||
Income before income taxes
|
|
33,667
|
|
|
40,991
|
|
||
Provision for income taxes
|
|
10,435
|
|
|
14,419
|
|
||
Net income
|
|
$
|
23,232
|
|
|
$
|
26,572
|
|
|
|
|
|
|
||||
|
|
|
|
|
||||
Earnings per share:
|
|
|
|
|
||||
Basic net income per share
|
|
$
|
0.42
|
|
|
$
|
0.44
|
|
Diluted net income per share
|
|
$
|
0.42
|
|
|
$
|
0.44
|
|
|
|
|
|
|
||||
Dividends per share
|
|
$
|
0.18
|
|
|
$
|
0.17
|
|
|
|
|
|
|
||||
Weighted average number of shares:
|
|
|
|
|
||||
Basic
|
|
55,115
|
|
|
60,451
|
|
||
Effect of dilutive securities
|
|
493
|
|
|
374
|
|
||
Diluted
|
|
55,608
|
|
|
60,825
|
|
||
|
|
|
|
|
||||
|
|
|
|
|
|
|||||||
|
|
||||||
|
2017
|
|
2016
|
||||
|
|
|
|
||||
Net income
|
$
|
23,232
|
|
|
$
|
26,572
|
|
Other comprehensive income (loss), net of tax:
|
|
|
|
||||
Changes in net prior service credit and actuarial losses
|
629
|
|
|
913
|
|
||
Change in fair value of derivatives
|
(340
|
)
|
|
(55
|
)
|
||
Foreign currency translation
|
7,457
|
|
|
10,492
|
|
||
Other comprehensive income
|
7,746
|
|
|
11,350
|
|
||
Comprehensive income
|
$
|
30,978
|
|
|
$
|
37,922
|
|
|
2017
|
|
2016
|
||||
Cash flows provided by (used in) operating activities:
|
|
|
|
||||
Net income
|
$
|
23,232
|
|
|
$
|
26,572
|
|
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
|
|
|
|
|
|
||
Depreciation and amortization
|
37,572
|
|
|
36,218
|
|
||
Rationalization charges
|
885
|
|
|
1,071
|
|
||
Stock compensation expense
|
3,279
|
|
|
3,059
|
|
||
Loss on early extinguishment of debt
|
2,677
|
|
|
—
|
|
||
Other changes that provided (used) cash:
|
|
|
|
|
|
||
Trade accounts receivable, net
|
(41,452
|
)
|
|
(54,914
|
)
|
||
Inventories
|
(107,446
|
)
|
|
(120,811
|
)
|
||
Trade accounts payable
|
(36,806
|
)
|
|
(50,302
|
)
|
||
Accrued liabilities
|
(17,583
|
)
|
|
4,393
|
|
||
Other, net
|
(5,287
|
)
|
|
3,891
|
|
||
Net cash used in operating activities
|
(140,929
|
)
|
|
(150,823
|
)
|
||
|
|
|
|
||||
Cash flows provided by (used in) investing activities:
|
|
|
|
|
|
||
Capital expenditures
|
(38,893
|
)
|
|
(61,974
|
)
|
||
Proceeds from asset sales
|
386
|
|
|
1,106
|
|
||
Net cash used in investing activities
|
(38,507
|
)
|
|
(60,868
|
)
|
||
|
|
|
|
||||
Cash flows provided by (used in) financing activities:
|
|
|
|
|
|
||
Borrowings under revolving loans
|
655,633
|
|
|
337,178
|
|
||
Repayments under revolving loans
|
(508,865
|
)
|
|
(38,006
|
)
|
||
Proceeds from issuance of long-term debt
|
989,200
|
|
|
—
|
|
||
Repayments of long-term debt
|
(521,666
|
)
|
|
(6,387
|
)
|
||
Changes in outstanding checks - principally vendors
|
(78,946
|
)
|
|
(101,765
|
)
|
||
Dividends paid on common stock
|
(10,115
|
)
|
|
(10,456
|
)
|
||
Debt issuance costs
|
(16,643
|
)
|
|
—
|
|
||
Repurchase of common stock under stock plan
|
(3,231
|
)
|
|
(2,204
|
)
|
||
Net cash provided by financing activities
|
505,367
|
|
|
178,360
|
|
||
|
|
|
|
||||
Cash and cash equivalents:
|
|
|
|
|
|
||
Net increase (decrease)
|
325,931
|
|
|
(33,331
|
)
|
||
Balance at beginning of year
|
24,690
|
|
|
99,945
|
|
||
Balance at end of period
|
$
|
350,621
|
|
|
$
|
66,614
|
|
|
|
|
|
||||
Interest paid, net
|
$
|
12,234
|
|
|
$
|
13,275
|
|
Income taxes paid, net
|
8,065
|
|
|
21,594
|
|
|
|
|
|
|
|
|
|
|
Accumulated Other Comprehensive Loss
|
|
|
|
|
|||||||||||||
|
Common Stock
|
|
|
|
|
|
|
|
|
Total Stockholders’ Equity
|
||||||||||||||||
|
Shares Outstanding
|
|
Par Value
|
|
Paid-in Capital
|
|
Retained Earnings
|
|
|
Treasury Stock
|
|
|||||||||||||||
Balance at December 31, 2015
|
60,393
|
|
|
$
|
876
|
|
|
$
|
237,291
|
|
|
$
|
1,446,193
|
|
|
$
|
(208,806
|
)
|
|
$
|
(836,370
|
)
|
|
$
|
639,184
|
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
26,572
|
|
|
—
|
|
|
—
|
|
|
26,572
|
|
||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11,350
|
|
|
—
|
|
|
11,350
|
|
||||||
Dividends declared on common stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(10,456
|
)
|
|
—
|
|
|
—
|
|
|
(10,456
|
)
|
||||||
Stock compensation expense
|
—
|
|
|
—
|
|
|
3,059
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,059
|
|
||||||
Adoption of accounting standard update related to stock compensation accounting
|
—
|
|
|
—
|
|
|
598
|
|
|
(73
|
)
|
|
—
|
|
|
—
|
|
|
525
|
|
||||||
Net issuance of treasury stock for vested restricted stock units
|
75
|
|
|
—
|
|
|
(744
|
)
|
|
—
|
|
|
—
|
|
|
(1,460
|
)
|
|
(2,204
|
)
|
||||||
Balance at March 31, 2016
|
60,468
|
|
|
$
|
876
|
|
|
$
|
240,204
|
|
|
$
|
1,462,236
|
|
|
$
|
(197,456
|
)
|
|
$
|
(837,830
|
)
|
|
$
|
668,030
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance at December 31, 2016
|
55,051
|
|
|
$
|
876
|
|
|
$
|
249,763
|
|
|
$
|
1,558,594
|
|
|
$
|
(223,856
|
)
|
|
$
|
(1,115,962
|
)
|
|
469,415
|
|
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
23,232
|
|
|
—
|
|
|
—
|
|
|
23,232
|
|
||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,746
|
|
|
—
|
|
|
7,746
|
|
||||||
Dividends declared on common stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(10,115
|
)
|
|
—
|
|
|
—
|
|
|
(10,115
|
)
|
||||||
Stock compensation expense
|
—
|
|
|
—
|
|
|
3,279
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,279
|
|
||||||
Net issuance of treasury stock for vested restricted stock units
|
91
|
|
|
—
|
|
|
(914
|
)
|
|
—
|
|
|
—
|
|
|
(2,317
|
)
|
|
(3,231
|
)
|
||||||
Balance at March 31, 2017
|
55,142
|
|
|
$
|
876
|
|
|
$
|
252,128
|
|
|
$
|
1,571,711
|
|
|
$
|
(216,110
|
)
|
|
$
|
(1,118,279
|
)
|
|
$
|
490,326
|
|
|
2017
|
|
2016
|
||||
|
(Dollars in thousands)
|
||||||
Metal containers
|
$
|
722
|
|
|
$
|
—
|
|
Closures
|
53
|
|
|
125
|
|
||
Plastic containers
|
110
|
|
|
946
|
|
||
|
$
|
885
|
|
|
$
|
1,071
|
|
|
|
Employee
Severance
and Benefits
|
|
Plant
Exit
Costs
|
|
Non-Cash
Asset
Write-Down
|
|
Total
|
||||||||
|
|
(Dollars in thousands)
|
||||||||||||||
Balance at December 31, 2016
|
|
$
|
945
|
|
|
$
|
2,426
|
|
|
$
|
—
|
|
|
$
|
3,371
|
|
Charged to expense
|
|
154
|
|
|
80
|
|
|
651
|
|
|
885
|
|
||||
Utilized and currency translation
|
|
(630
|
)
|
|
(308
|
)
|
|
(651
|
)
|
|
(1,589
|
)
|
||||
Balance at March 31, 2017
|
|
$
|
469
|
|
|
$
|
2,198
|
|
|
$
|
—
|
|
|
$
|
2,667
|
|
|
Unrecognized Net
Defined Benefit
Plan Costs
|
|
Change in Fair
Value of
Derivatives
|
|
Foreign
Currency
Translation
|
|
Total
|
||||||||
|
(Dollars in thousands)
|
||||||||||||||
Balance at December 31, 2016
|
$
|
(83,105
|
)
|
|
$
|
540
|
|
|
$
|
(141,291
|
)
|
|
$
|
(223,856
|
)
|
Other comprehensive income before reclassifications
|
—
|
|
|
(283
|
)
|
|
7,457
|
|
|
7,174
|
|
||||
Amounts reclassified from accumulated other
comprehensive loss
|
629
|
|
|
(57
|
)
|
|
—
|
|
|
572
|
|
||||
Other comprehensive income
|
629
|
|
|
(340
|
)
|
|
7,457
|
|
|
7,746
|
|
||||
Balance at March 31, 2017
|
$
|
(82,476
|
)
|
|
$
|
200
|
|
|
$
|
(133,834
|
)
|
|
$
|
(216,110
|
)
|
|
March 31,
2017
|
|
March 31,
2016
|
|
Dec. 31,
2016
|
||||||
|
(Dollars in thousands)
|
||||||||||
Raw materials
|
$
|
187,897
|
|
|
$
|
212,445
|
|
|
$
|
179,451
|
|
Work-in-process
|
125,941
|
|
|
128,471
|
|
|
121,331
|
|
|||
Finished goods
|
452,931
|
|
|
489,554
|
|
|
355,072
|
|
|||
Other
|
14,504
|
|
|
13,827
|
|
|
15,528
|
|
|||
|
781,273
|
|
|
844,297
|
|
|
671,382
|
|
|||
Adjustment to value inventory
at cost on the LIFO method
|
(68,419
|
)
|
|
(91,326
|
)
|
|
(68,419
|
)
|
|||
|
$
|
712,854
|
|
|
$
|
752,971
|
|
|
$
|
602,963
|
|
|
March 31,
2017
|
|
March 31,
2016
|
|
Dec. 31,
2016
|
||||||
|
(Dollars in thousands)
|
||||||||||
Bank debt
|
|
|
|
|
|
||||||
Bank revolving loans
|
$
|
319,510
|
|
|
$
|
299,031
|
|
|
$
|
99,500
|
|
U.S. term loans
|
—
|
|
|
346,750
|
|
|
310,250
|
|
|||
Canadian term loans
|
34,166
|
|
|
45,119
|
|
|
44,274
|
|
|||
Euro term loans
|
—
|
|
|
233,683
|
|
|
196,668
|
|
|||
Other foreign bank revolving and term loans
|
46,507
|
|
|
105,046
|
|
|
120,500
|
|
|||
Total bank debt
|
400,183
|
|
|
1,029,629
|
|
|
771,192
|
|
|||
5% Senior Notes
|
500,000
|
|
|
500,000
|
|
|
500,000
|
|
|||
5½% Senior Notes
|
300,000
|
|
|
300,000
|
|
|
300,000
|
|
|||
4¾% Senior Notes
|
300,000
|
|
|
—
|
|
|
—
|
|
|||
3¼% Senior Notes
|
692,380
|
|
|
—
|
|
|
—
|
|
|||
Total debt - principal
|
2,192,563
|
|
|
1,829,629
|
|
|
1,571,192
|
|
|||
Less unamortized debt issuance costs
|
20,552
|
|
|
11,619
|
|
|
9,609
|
|
|||
Total debt
|
2,172,011
|
|
|
1,818,010
|
|
|
1,561,583
|
|
|||
Less current portion
|
580,247
|
|
|
449,512
|
|
|
217,127
|
|
|||
|
$
|
1,591,764
|
|
|
$
|
1,368,498
|
|
|
$
|
1,344,456
|
|
Date
|
Percentage
|
|
December 31, 2018
|
5%
|
|
December 31, 2019
|
10%
|
|
December 31, 2020
|
10%
|
|
December 31, 2021
|
10%
|
|
December 31, 2022
|
10%
|
|
•
|
be denominated in a single currency, either in U.S. Dollars, Euros, Pounds Sterling or Canadian Dollars;
|
•
|
be in a minimum aggregate amount of at least U.S.
$50 million
;
|
•
|
have a maturity date no earlier than the maturity date for the Term Loans and a weighted average life to maturity of no less than the weighted average life to maturity of the Term Loans; and
|
•
|
be used by us and certain of our foreign subsidiaries for working capital and other general corporate purposes, including to finance acquisitions and refinance any indebtedness assumed as a part of such acquisitions, to refinance or repurchase debt as permitted and to pay outstanding Revolving Loans.
|
|
Carrying
Amount
|
|
Fair
Value
|
||||
|
(Dollars in thousands)
|
||||||
Assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
350,621
|
|
|
$
|
350,621
|
|
Natural gas swap agreements
|
402
|
|
|
402
|
|
||
|
|
|
|
||||
Liabilities:
|
|
|
|
|
|
||
Bank debt
|
$
|
400,183
|
|
|
$
|
400,183
|
|
5% Senior Notes
|
500,000
|
|
|
506,875
|
|
||
5½% Senior Notes
|
300,000
|
|
|
308,250
|
|
||
4¾% Senior Notes
|
300,000
|
|
|
299,133
|
|
||
3¼% Senior Notes
|
692,380
|
|
|
691,051
|
|
||
Interest rate swap agreements
|
92
|
|
|
92
|
|
|
|||||||
|
|
||||||
|
2017
|
|
2016
|
||||
|
(Dollars in thousands)
|
||||||
Service cost
|
$
|
3,168
|
|
|
$
|
3,313
|
|
Interest cost
|
6,270
|
|
|
6,434
|
|
||
Expected return on plan assets
|
(15,713
|
)
|
|
(14,583
|
)
|
||
Amortization of prior service cost
|
80
|
|
|
151
|
|
||
Amortization of actuarial losses
|
1,853
|
|
|
2,083
|
|
||
Net periodic benefit credit
|
$
|
(4,342
|
)
|
|
$
|
(2,602
|
)
|
|
|
||||||
|
2017
|
|
2016
|
||||
|
(Dollars in thousands)
|
||||||
Service cost
|
$
|
36
|
|
|
$
|
67
|
|
Interest cost
|
176
|
|
|
254
|
|
||
Amortization of prior service credit
|
(853
|
)
|
|
(850
|
)
|
||
Amortization of actuarial gains
|
(139
|
)
|
|
(118
|
)
|
||
Net periodic benefit credit
|
$
|
(780
|
)
|
|
$
|
(647
|
)
|
|
Metal
Containers
|
|
Closures
|
|
Plastic
Containers
|
|
Corporate
|
|
Total
|
||||||||||
|
(Dollars in thousands)
|
||||||||||||||||||
Three Months Ended March 31, 2017
|
|
|
|
|
|
|
|
|
|
||||||||||
Net sales
|
$
|
466,236
|
|
|
$
|
197,682
|
|
|
$
|
141,489
|
|
|
$
|
—
|
|
|
$
|
805,407
|
|
Depreciation and amortization
(1)
|
18,798
|
|
|
9,182
|
|
|
8,437
|
|
|
23
|
|
|
36,440
|
|
|||||
Rationalization charges
|
722
|
|
|
53
|
|
|
110
|
|
|
—
|
|
|
885
|
|
|||||
Segment income from operations
(2)
|
43,870
|
|
|
23,799
|
|
|
6,834
|
|
|
(17,741
|
)
|
|
56,762
|
|
|||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Three Months Ended March 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net sales
|
$
|
453,455
|
|
|
$
|
196,110
|
|
|
$
|
143,173
|
|
|
$
|
—
|
|
|
$
|
792,738
|
|
Depreciation and amortization
(1)
|
17,950
|
|
|
9,416
|
|
|
7,782
|
|
|
29
|
|
|
35,177
|
|
|||||
Rationalization charges
|
—
|
|
|
125
|
|
|
946
|
|
|
—
|
|
|
1,071
|
|
|||||
Segment income from operations
|
37,616
|
|
|
24,520
|
|
|
50
|
|
|
(4,740
|
)
|
|
57,446
|
|
(1)
|
Depreciation and amortization excludes amortization of debt issuance costs of
$1.1 million
and
$1.0 million
for the three months ended March 31, 2017 and 2016, respectively.
|
(2)
|
Income from operations for Corporate includes costs attributed to announced acquisitions of
$13.2 million
for the three months ended March 31, 2017.
|
|
|
|
2017
|
|
2016
|
||||
|
|
|
(Dollars in thousands)
|
||||||
Total segment income from operations
|
|
|
$
|
56,762
|
|
|
$
|
57,446
|
|
Interest and other debt expense
|
|
|
23,095
|
|
|
16,455
|
|
||
Income before income taxes
|
|
|
$
|
33,667
|
|
|
$
|
40,991
|
|
|
|
|
||||
|
|
2017
|
|
2016
|
||
|
|
|
||||
Net sales
|
|
|
|
|
||
Metal containers
|
|
57.9
|
%
|
|
57.2
|
%
|
Closures
|
|
24.5
|
|
|
24.7
|
|
Plastic containers
|
|
17.6
|
|
|
18.1
|
|
Consolidated
|
|
100.0
|
|
|
100.0
|
|
Cost of goods sold
|
|
84.5
|
|
|
85.6
|
|
Gross profit
|
|
15.5
|
|
|
14.4
|
|
Selling, general and administrative expenses
|
|
8.3
|
|
|
7.0
|
|
Rationalization charges
|
|
0.1
|
|
|
0.2
|
|
Income from operations
|
|
7.1
|
|
|
7.2
|
|
Interest and other debt expense
|
|
2.9
|
|
|
2.0
|
|
Income before income taxes
|
|
4.2
|
|
|
5.2
|
|
Provision for income taxes
|
|
1.3
|
|
|
1.8
|
|
Net income
|
|
2.9
|
%
|
|
3.4
|
%
|
|
|
|
||||||
|
|
2017
|
|
2016
|
||||
|
|
(dollars in millions)
|
||||||
Net sales
|
|
|
|
|
||||
Metal containers
|
|
$
|
466.2
|
|
|
$
|
453.4
|
|
Closures
|
|
197.7
|
|
|
196.1
|
|
||
Plastic containers
|
|
141.5
|
|
|
143.2
|
|
||
Consolidated
|
|
$
|
805.4
|
|
|
$
|
792.7
|
|
|
|
|
|
|
||||
Income from operations
|
|
|
|
|
||||
Metal containers
(1)
|
|
$
|
43.9
|
|
|
$
|
37.6
|
|
Closures
(2)
|
|
23.8
|
|
|
24.5
|
|
||
Plastic containers
(3)
|
|
6.8
|
|
|
0.1
|
|
||
Corporate
(4)
|
|
(17.7
|
)
|
|
(4.8
|
)
|
||
Consolidated
|
|
$
|
56.8
|
|
|
$
|
57.4
|
|
Exhibit Number
|
|
Description
|
|
|
|
12
|
|
Ratio of Earnings to Fixed Charges for the three months ended March 31, 2017 and 2016.
|
|
|
|
31.1
|
|
Certification by the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act.
|
|
|
|
31.2
|
|
Certification by the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act.
|
|
|
|
32.1
|
|
Certification by the Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act.
|
|
|
|
32.2
|
|
Certification by the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act.
|
|
|
|
101.INS
|
|
XBRL Instance Document.
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document.
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document.
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Label Linkbase Document.
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
|
SILGAN HOLDINGS INC.
|
|
|
|
|
|
|
|
|
|
|
Dated: May 5, 2017
|
/s/ Robert B. Lewis
|
|
|
Robert B. Lewis
|
|
|
Executive Vice President and
|
|
|
Chief Financial Officer
|
|
|
(Principal Financial and
|
|
|
Accounting Officer)
|
1 Year Silgan Chart |
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