Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 27

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 27
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bt and other liabilities(20,301)       Total identifiable net assets541,914 Goodwill379,649        Cash paid at closing, net of cash acquired$921,563 Goodwill of $379.6 million consists largely of our increased capacity to serve our global customers and achieve operational synergies and has been assigned to our dispensing and specialty closures segment. A majority of the goodwill is not expected to be deductible for income tax purposes. Other intangible assets are included in our dispensing and specialty closures segment and consist of customer relationships of $168.3 million with an estimated remaining life of 24 years, trade names of $43.8 million with an estimated remaining life of 17 years and technology know-how of $18.8 million with an estimated remaining life of 8 years.  Acquired property, plant and equipment are being depreciated on a straight-line basis with estimated remaining lives of up to 35 years.

F-12

SILGAN HOLDINGS INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

Weener Packaging's results of operations were included in our dispensing and specialty closures segment since the acquisition date and were not significant since such date. 

NOTE 4. RATIONALIZATION CHARGES

We continually evaluate cost reduction opportunities across each of our segments, including rationalizations of our existing facilities through plant closings and downsizings. We use a disciplined approach to identify opportunities that generate attractive cash returns. Rationalization charges by segment for each of the years ended December 31 were as follows: 202420232022 (Dollars in thousands)Dispensing and Specialty Closures$23,055 $11,285 $944 Metal Containers14,469 (7,849)73,137 Custom Containers21,957 4,976 —  $59,481 $8,412 $74,081     Rationalization charges of $59.5 million for the year ended December 31, 2024 primarily related to the comprehensive cost reduction initiative we announced in late 2023 to achieve cost savings over the following two years from footprint rationalizations and other cost reduction actions in all of our segments. As part of this initiative, we have already closed three dispensing and specialty closures manufacturing facilities, two metal container manufacturing facilities and one custom container manufacturing facility as of December 31, 2024, reloc