Company: SLGN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049324
Chunk: 70

Company: SILGAN HOLDINGS INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 70
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 acquired operations that management believes is not indicative of the on-going performance of the acquired operations. Since the Company’s U.S. pension plans are significantly over funded and have no required cash contributions for the foreseeable future based on current regulations, management views other pension (income) expense from the Company’s U.S. pension plans, which excludes service costs, as not reflective of the operational performance of the Company or its segments. While rationalization costs are incurred on a regular basis, management views these costs more as an investment to generate savings rather than period costs.  Costs attributed to announced acquisitions consist of third party fees and expenses that are viewed by management as part of the acquisition and not indicative of the on-going cost structure of the Company.  The Company's management views the operating performance of its affiliates which are joint ventures as part of the Company's operating performance and therefore believes that the Company's share of the net operating results of its affiliates which are joint ventures should be included in the Company's adjusted EBIT.

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A reconciliation of such non-GAAP financial measures for the periods presented is provided below: 

Three Months EndedNine Months Ended Sept. 30, 2025Sept. 30, 2024Sept. 30, 2025Sept. 30, 2024(Dollars in millions)Dispensing and Specialty ClosuresIncome before interest and income taxes (EBIT)$95.1 $74.7 $264.8 $213.3 Acquired intangible asset amortization expense14.5 10.9 42.9 33.6 Other pension (income) for U.S. pension plans(0.3)(0.2)(0.6)(0.7)Equity in earnings of affiliates, net of tax0.8 — 2.5 — Rationalization charges3.4 9.8 11.0 19.6 Adjusted EBIT$113.5 $95.2 $320.6 $265.8 Metal ContainersIncome before interest and income taxes (EBIT)$93.5 $89.3 $203.9 $187.3 Acquired intangible asset amortization expense0.3 0.4 1.1 1.0 Other pension (income) for U.S. pension plans(0.5)(0.5)(1.4)(1.7)Rationalization charges2.5 7.