Company: SLGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000849869-25-000072
Chunk: 41

Company: SILGAN HOLDINGS INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 41
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gan that are not part of the Obligor Group of $2.2 billion and $2.1 billion as of March 31, 2025 and December 31, 2024, respectively, are not included in noncurrent assets in the table below.

 March 31, 2025Dec. 31, 2024(Dollars in millions)  Current assets$1,475.1$1,464.5Noncurrent assets4,286.24,279.5Current liabilities1,834.71,826.4Noncurrent liabilities4,014.03,987.8

-25-

At March 31, 2025 and December 31, 2024, the Obligor Group held current receivables due from other subsidiary companies of $32.0 million and $33.0 million, respectively; long-term notes receivable due from other subsidiary companies of $1.1 billion in each of the periods; and current payables due to other subsidiary companies of $17.2 million and $19.0 million, respectively.

 Three months endedMarch 31, 2025(Dollars in millions) Net sales$976.1Gross profit151.0 Net income30.5 

For the three months ended March 31, 2025, net income in the table above excludes income from equity method investments of other subsidiary companies of $37.5 million. For the three months ended March 31, 2025, the Obligor Group recorded the following transactions with other subsidiary companies: sales to such other subsidiary companies of $16.0 million; net credits from such other subsidiary companies of $5.9 million; and net interest income from such other subsidiary companies of $12.7 million.  For the three months ended March 31, 2025, the Obligor Group did not receive dividends from other subsidiary companies. 

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. Under our rationalization plans, we made cash payments of $3.5 million and $11.8 million for the three months ended March 31, 2025 and 2024, respectively. Excluding the impact of our withdrawal from the Central States Pension Plan in