Company: SLGN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038677
Chunk: 10

Company: SILGAN HOLDINGS INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 and other498,110 346,964 947,201 682,039 $1,539,161 $1,381,365 $3,005,822 $2,698,403 

Our contract assets primarily consist of unbilled accounts receivable related to over time revenue recognition and were $121.7 million, $101.4 million, and $115.6 million as of June 30, 2025 and 2024 and December 31, 2024, respectively. Unbilled receivables are included in trade accounts receivable, net on our Condensed Consolidated Balance Sheets. 

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SILGAN HOLDINGS INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Information at June 30, 2025 and 2024 and for thethree and six months then ended is unaudited)

Note 3.               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 were as follows:  Three Months EndedSix Months EndedJune 30, 2025June 30, 2024June 30, 2025June 30, 2024 (Dollars in thousands)Dispensing and Specialty Closures$3,275 $3,191 $7,646 $9,748 Metal Containers5,140 2,493 10,072 6,077 Custom Containers1,449 1,175 3,105 2,725  $9,864 $6,859 $20,823 $18,550 Activity in reserves for our rationalization plans were as follows:EmployeeSeveranceand BenefitsPlantExitCostsNon-CashAssetWrite-DownsTotal (Dollars in thousands)Balance at December 31, 2024$29,318 $— $— $29,318 Charged to expense6,181 3,910 10,732 20,823 Utilized and currency translation(4,126)(3,910)(10,732)(18,768)Balance at June 30, 2025$31,373 $— $— $31,373 Non-cash asset write