Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 171

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 171
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 agreements (with counterparties that, in our judgment, have sufficient creditworthiness) to hedge our exposure against interest rate volatility.

42

GUARANTEED SECURITIES

Each of the 3¼% Notes, the 4⅛% Notes, the 2¼% Notes and the 1.4% Notes were issued by us and are guaranteed by our U.S. subsidiaries that also guarantee our obligations under our Credit Agreement, collectively the Obligor Group.

The following summarized financial information relates to the Obligor Group as of and for the year ended December 31, 2024. Intercompany transactions, equity investments and other intercompany activity within the Obligor Group have been eliminated from the summarized financial information. Investments in our subsidiaries that are not part of the Obligor Group of $2.1 billion as of December 31, 2024 are not included in noncurrent assets in the table below.

 2024(Dollars in millions) Current assets$1,464.5 Noncurrent assets4,279.5 Current liabilities1,826.4 Noncurrent liabilities3,987.8 

At December 31, 2024, the Obligor Group held current receivables due from other subsidiary companies of $33.0 million; long-term notes receivable due from other subsidiary companies of $1.1 billion; and current payables due to other subsidiary companies of $19.0 million.

Year Ended December 31, 2024(Dollars in millions) Net sales$4,253.8 Gross profit621.3 Net income170.2 

For the year ended December 31, 2024, net income in the table above excludes income from equity method investments of other subsidiary companies of $106.1 million. For the year ended December 31, 2024, the Obligor Group recorded the following transactions with other subsidiary companies: sales to such other subsidiary companies of $52.3 million; net credits from such other subsidiary companies of $34.8 million; and net interest income from such other subsidiary companies of $41.6 million.  For the year ended December 31, 2024, the Obligor Group received dividends from other subsidiary companies of $12.3 million.

RATIONALIZATION CHARGES

In 2024, we recognized rationalization charges of $59.5 million primarily related to the comprehensive cost reduction initiative we