Company: SLGN
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038677
Chunk: 16

Company: SILGAN HOLDINGS INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 loss. Interest Rate Swap AgreementsAs of June 30, 2025 and December 31, 2024, we had outstanding $300 million aggregate notional principal amount of U.S. dollar interest rate swap agreements with a weighted average fixed rate of 3.90 percent and €685.0 million aggregate notional principal amount of Euro interest rate swap agreements with a weighted average fixed rate of 2.43 percent.  These agreements were entered into with financial institutions which are expected to fully perform under the terms thereof. The difference between amounts to be paid or received on our interest rate swap agreements is recorded in interest and other debt expense in our Condensed Consolidated Statements of Income and was not significant for the three and six months ended June 30, 2025. The total fair value of our interest rate swaps agreements in effect at June 30, 2025 was not significant. Natural Gas Swap AgreementsWe have entered into natural gas swap agreements to manage a portion of our exposure to fluctuations in natural gas prices. The difference between amounts to be paid or received on our natural gas swap agreements is recorded in cost of goods sold in our Condensed Consolidated Statements of Income and was not significant for the three and six months ended June 30, 2025. These agreements are with a financial institution which is expected to fully perform under the terms thereof. The total fair value of our natural gas swap agreements in effect at June 30, 2025 was not significant.Foreign Currency Exchange Rate RiskIn an effort to minimize our foreign currency exchange rate risk, we have financed acquisitions of foreign operations primarily with borrowings denominated in Euros. In addition, where available, we have borrowed funds in local currency or implemented certain internal hedging strategies to minimize our foreign currency exchange rate risk related to foreign operations, including net investment hedges related to the Euro term loans under the Credit Agreement which are Euro denominated. Foreign currency (losses) related to our net investment hedges included in accumulated other comprehensive loss for the three and six months ended June 30, 2025 were $(96.7) million and $(141.7) million, respectively.

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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 8.               Commitments and Contingencies