Company: SLGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000849869-25-000072
Chunk: 34

Company: SILGAN HOLDINGS INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 34
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 million in the first quarter of 2024, and margins increased to 8.9 percent from 8.5 percent over the same periods. The increase in income before interest and income taxes was primarily the result of the inclusion of income before interest and income taxes of Weener Packaging and improved manufacturing productivity and cost performance and higher organic volumes across all segments. Rationalization charges were $11.0 million and $11.7 million in the first quarters of 2025 and 2024, respectively. Costs attributed to announced acquisitions were $1.1 million in the first quarter of 2025.

Interest and Other Debt Expense.  In the first quarter of 2025, interest and other debt expense increased $4.3 million to $42.9 million as compared to $38.6 million in the first quarter of 2024. The increase was primarily due to higher average borrowings during the current year period related to the Weener Packaging acquisition completed in October 2024. 

Provision for Income Taxes.  For the first quarters of 2025 and 2024, the effective tax rates were 23.8 percent and 24.5 percent, respectively. 

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Non-GAAP Measures

Generally accepted accounting principles in the United States are commonly referred to as GAAP. A non-GAAP financial measure is generally defined as a financial measure that purports to measure financial performance, financial position or liquidity but excludes or includes amounts that could not be so adjusted in the most comparable GAAP measure. Adjusted EBIT and adjusted EBIT margin are unaudited supplemental measures of financial performance that the Company uses, which are not required by, or presented in accordance with, GAAP and therefore are non-GAAP financial measures. These non-GAAP financial measures should not be considered as alternatives to income before interest and income taxes or any other measures derived in accordance with GAAP. Such non-GAAP financial measures should not be considered in isolation or as a substitute for any financial data prepared in accordance with GAAP and may not be comparable to similarly titled measures used by other companies. The Company uses such non-GAAP financial measures because it considers them to be important and useful supplemental measures of its and its segments’ financial performance which provide a more complete understanding of the Company and its segments than could be obtained absent such non-GAAP financial measures. The Company believes that it is important and useful to present these non-GAAP financial measures because they allow for a better period-over-period comparison of results