Company: SLGN
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000849869-25-000029
Chunk: 60

Company: SILGAN HOLDINGS INC
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 60
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 our plan assets classified as cash and cash equivalents were primarily invested in short term investment funds which included investments in cash, bank notes, corporate notes, government bills and various short-term fixed income instruments. As of December 31, 2024 and 2023, $220.9 million and $267.8 million, respectively, of our plan assets were classified within Level 1 of the fair value hierarchy (as described in Note 10) and $548.7 million and $539.2 million, respectively, were classified as Level 2 of the fair value hierarchy. 

F-33

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

The fair value of our plan assets by asset category consisted of the following at December 31:20242023 (Dollars in thousands)Fixed income securities$669,645 $708,088 Equity securities—US51,603 48,237 Equity securities—International24,127 24,512 Cash and cash equivalents24,255 26,179 $769,630 $807,016 CONCENTRATIONS OF CREDIT RISKAs of December 31, 2024 and 2023, our plan assets were under the management of three investment management companies. No individual investment exceeded ten percent of our total plan assets.EXPECTED CONTRIBUTIONSBased on current legislation, there are no significant minimum required contributions to our pension benefit plans in 2024. In addition, based on the current funded status of our domestic pension benefit plans we do not expect to make significant contributions to these plans in 2025. However, this estimate may change based on regulatory changes and actual plan asset returns.

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

NOTE 14. INCOME TAXES

Income before income taxes was taxed in the following jurisdictions in each of the years ended December 31:202420232022 (Dollars in thousands)Domestic$193,938 $253,916 $400,889 Foreign153,732 168,205 73,250 Total$347,670 $422,121 $474,139 The components of the provision (benefit) for income taxes were as follows: 202