Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 151

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 151
---
 should also read Note 10 to our Consolidated Financial Statements for the year ended December 31, 2024 included elsewhere in this Annual Report for information regarding our interest rate swap agreements.

In light of our strategy to use leverage to support our growth and optimize shareholder returns, we have incurred and will continue to incur significant interest expense. For 2024, 2023 and 2022, our aggregate interest and other debt expense before loss on early extinguishment of debt as a percentage of our income before interest and income taxes was 32.3 percent, 29.1 percent and 21.0 percent, respectively.

30

RESULTS OF OPERATIONS

The following table sets forth certain income statement data expressed as a percentage of net sales for each of the periods presented. You should read this table in conjunction with our Consolidated Financial Statements for the year ended December 31, 2024 and the accompanying notes included elsewhere in this Annual Report.

  Year Ended December 31, 202420232022Operating Data:Net sales:Dispensing and Specialty Closures39.4 %37.1 %36.1 %Metal Containers49.5 52.4 52.6 Custom Containers11.1 10.5 11.3 Consolidated100.0 100.0 100.0 Cost of goods sold82.7 83.4 83.7 Gross profit17.3 16.6 16.3 Selling, general and administrative expenses7.5 6.4 6.5 Rationalization charges1.0 0.2 1.1 Other pension and postretirement (income) expense— 0.1 (0.7)Income before interest and income taxes8.8 9.9 9.4 Interest and other debt expense2.9 2.9 2.0 Income before income taxes5.9 7.0 7.4 Provision for income taxes1.2 1.6 2.1 Income before equity in earnings of affiliates4.7 5.4 5.3 Equity in earnings of affiliates, net of tax— — — Net income4.7 %5.4 %5.3 %

Summary results for our reportable segments for the years ended December 31, 2024, 2023 and 2022 are provided below.