Silgan (SLGN) 10-Q7 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-41459
Entity Registrant Name	SILGAN HOLDINGS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	06-1269834
Entity Address, Address Line One	4 Landmark Square
Entity Address, City or Town	Stamford,
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06901
City Area Code	203
Local Phone Number	975-7110
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	SLGN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		106,794,650
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000849869
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 368,507	$ 642,923	$ 307,124
Trade accounts receivable, net	1,210,331	599,524	1,295,882
Inventories	780,443	940,808	919,013
Prepaid expenses and other current assets	160,207	165,727	139,803
Total current assets	2,519,488	2,348,982	2,661,822
Property, plant and equipment, net	1,956,004	1,961,585	1,911,638
Goodwill	2,024,055	2,018,241	1,979,693
Other intangible assets, net	681,454	721,023	724,340
Other assets, net	566,365	561,405	534,814
Assets, total	7,747,366	7,611,236	7,812,307
Current liabilities:
Revolving loans and current portion of long-term debt	1,254,391	880,315	897,809
Trade accounts payable	678,518	1,075,913	651,991
Accrued payroll and related costs	106,367	97,886	96,375
Accrued liabilities	266,486	257,742	269,386
Total current liabilities	2,305,762	2,311,856	1,915,561
Long-term debt	2,553,659	2,546,451	3,312,685
Deferred income taxes	420,921	433,666	380,250
Other liabilities	413,054	429,905	421,922
Stockholders’ equity:
Common stock	1,751	1,751	1,751
Paid-in capital	364,074	353,848	349,634
Retained earnings	3,378,093	3,208,237	3,163,161
Accumulated other comprehensive loss	(260,597)	(251,361)	(309,586)
Treasury stock	(1,429,351)	(1,423,117)	(1,423,071)
Total stockholders’ equity	2,053,970	1,889,358	1,781,889
Liabilities and equity	$ 7,747,366	$ 7,611,236	$ 7,812,307

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,745,124	$ 1,803,101	$ 4,443,527	$ 4,648,109
Cost of goods sold	1,451,831	1,517,183	3,670,751	3,874,100
Gross profit	293,293	285,918	772,776	774,009
Selling, general and administrative expenses	106,405	84,320	314,582	287,821
Rationalization charges	19,483	6,424	38,033	13,212
Other pension and postretirement expense (income)	118	1,083	(698)	3,664
Income before interest and income taxes	167,287	194,091	420,859	469,312
Less interest and other debt expense	41,871	47,264	121,861	130,822
Income before income taxes	125,416	146,827	298,998	338,490
Provision for income taxes	25,363	36,210	67,684	76,954
Net income	$ 100,053	$ 110,617	$ 231,314	$ 261,536
Earnings per share
Basic net income per share (usd per share)	$ 0.94	$ 1.02	$ 2.17	$ 2.39
Diluted net income per share (usd per share)	$ 0.93	$ 1.02	$ 2.16	$ 2.38
Weighted average number of shares
Basic (in shares)	106,847	108,421	106,776	109,583
Effect of dilutive securities (in shares)	290	331	292	428
Diluted (in shares)	107,137	108,752	107,068	110,011

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 100,053	$ 110,617	$ 231,314	$ 261,536
Other comprehensive income (loss), net of tax:
Changes in net prior service credit and actuarial losses	1,719	1,995	4,533	5,518
Change in fair value of derivatives	(3,767)	1,865	(815)	5,230
Foreign currency translation	38,981	(33,892)	(12,954)	24,976
Other comprehensive income (loss)	36,933	(30,032)	(9,236)	35,724
Comprehensive income	$ 136,986	$ 80,585	$ 222,078	$ 297,260

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows provided by (used in) operating activities:
Net income	$ 231,314	$ 261,536
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	198,648	196,722
Amortization of debt discount and debt issuance costs	4,043	4,025
Rationalization charges	38,033	13,212
Stock compensation expense	11,727	11,348
Other changes that provided (used) cash:
Trade accounts receivable, net	(614,632)	(638,282)
Inventories	160,756	(152,891)
Trade accounts payable	(213,088)	(233,724)
Accrued liabilities	(6,978)	(31,055)
Other, net	(23,711)	(26,933)
Net cash (used in) operating activities	(213,888)	(596,042)
Cash flows provided by (used in) investing activities:
Capital expenditures	(192,035)	(173,453)
Proceeds from asset sales	3,221	1,628
Other, net	(293)	1,267
Net cash (used in) investing activities	(189,107)	(170,558)
Cash flows provided by (used in) financing activities:
Borrowings under revolving loans	802,389	1,119,960
Repayments under revolving loans	(310,827)	(281,067)
Repayment of principal amounts under finance leases	(27,281)	(2,208)
Proceeds from issuance of long-term debt	0	8,649
Repayments of long-term debt	(100,000)	(52,650)
Changes in outstanding checks - principally vendors	(160,576)	(61,433)
Dividends paid on common stock	(61,754)	(59,712)
Repurchase of common stock	(7,735)	(183,939)
Net cash provided by financing activities	134,216	487,600
Effect of exchange rate changes on cash and cash equivalents	(5,637)	502
Cash and cash equivalents:
Net (decrease)	(274,416)	(278,498)
Balance at beginning of year	642,923	585,622
Balance at end of period	368,507	307,124
Interest paid, net	133,411	123,944
Income taxes paid, net	$ 69,748	$ 95,911

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock
Beginning balance at Dec. 31, 2022		$ 1,751	$ 339,839	$ 2,961,079	$ (345,310)	$ (1,239,103)
Beginning balance (in shares) at Dec. 31, 2022		110,079
Increase (Decrease) in Stockholders' Equity
Net issuance of treasury stock for vested restricted stock units (in shares)		312
Repurchases of common stock (in shares)		(3,893)
Stock compensation expense			11,348
Net issuance of treasury stock for vested restricted stock units			(1,553)			(7,664)
Net income	$ 261,536			261,536
Dividends declared on common stock				(59,454)
Other comprehensive income (loss)					35,724
Repurchases of common stock						(176,304)
Ending balance at Sep. 30, 2023	$ 1,781,889	$ 1,751	349,634	3,163,161	(309,586)	(1,423,071)
Ending balance (in shares) at Sep. 30, 2023		106,498
Increase (Decrease) in Stockholders' Equity
Dividends declared on common stock per share (usd per share)	$ 0.54
Beginning balance at Jun. 30, 2023		$ 1,751	345,442	3,072,021	(279,554)	(1,268,524)
Beginning balance (in shares) at Jun. 30, 2023		109,946
Increase (Decrease) in Stockholders' Equity
Net issuance of treasury stock for vested restricted stock units (in shares)		0
Repurchases of common stock (in shares)		(3,448)
Stock compensation expense			4,192
Net issuance of treasury stock for vested restricted stock units			0			0
Net income	$ 110,617			110,617
Dividends declared on common stock				(19,477)
Other comprehensive income (loss)					(30,032)
Repurchases of common stock						(154,547)
Ending balance at Sep. 30, 2023	$ 1,781,889	$ 1,751	349,634	3,163,161	(309,586)	(1,423,071)
Ending balance (in shares) at Sep. 30, 2023		106,498
Increase (Decrease) in Stockholders' Equity
Dividends declared on common stock per share (usd per share)	$ 0.18
Beginning balance at Dec. 31, 2023	$ 1,889,358	$ 1,751	353,848	3,208,237	(251,361)	(1,423,117)
Beginning balance (in shares) at Dec. 31, 2023		106,500
Increase (Decrease) in Stockholders' Equity
Net issuance of treasury stock for vested restricted stock units (in shares)		295
Repurchases of common stock (in shares)		0
Stock compensation expense			11,727
Net issuance of treasury stock for vested restricted stock units			(1,501)			(6,234)
Net income	231,314			231,314
Dividends declared on common stock				(61,458)
Other comprehensive income (loss)					(9,236)
Repurchases of common stock						0
Ending balance at Sep. 30, 2024	$ 2,053,970	$ 1,751	364,074	3,378,093	(260,597)	(1,429,351)
Ending balance (in shares) at Sep. 30, 2024		106,795
Increase (Decrease) in Stockholders' Equity
Dividends declared on common stock per share (usd per share)	$ 0.57
Beginning balance at Jun. 30, 2024		$ 1,751	360,344	3,298,525	(297,530)	(1,429,400)
Beginning balance (in shares) at Jun. 30, 2024		106,779
Increase (Decrease) in Stockholders' Equity
Net issuance of treasury stock for vested restricted stock units (in shares)		16
Repurchases of common stock (in shares)		0
Stock compensation expense			3,779
Net issuance of treasury stock for vested restricted stock units			(49)			49
Net income	$ 100,053			100,053
Dividends declared on common stock				(20,485)
Other comprehensive income (loss)					36,933
Repurchases of common stock						0
Ending balance at Sep. 30, 2024	$ 2,053,970	$ 1,751	$ 364,074	$ 3,378,093	$ (260,597)	$ (1,429,351)
Ending balance (in shares) at Sep. 30, 2024		106,795
Increase (Decrease) in Stockholders' Equity
Dividends declared on common stock per share (usd per share)	$ 0.19

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation. The accompanying unaudited condensed consolidated financial statements of Silgan Holdings Inc., or Silgan, have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. The results of operations for any interim period are not necessarily indicative of the results of operations for the full year. The Condensed Consolidated Balance Sheet at December 31, 2023 has been derived from our audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. You should read the accompanying condensed consolidated financial statements in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023. Certain prior year amounts have been reclassified to conform with the current year's presentation. Goodwill and Other Intangible Assets. We review goodwill and other indefinite-lived intangible assets for impairment as of July 1 of each year and more frequently if circumstances indicate a possible impairment. We determined that our goodwill and other indefinite-lived intangible assets were not impaired in our annual 2024 assessment performed during the third quarter.

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following tables present our revenues disaggregated by reportable segment and geography as they best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Revenues by segment were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Dispensing and Specialty Closures $ 563,669 $ 559,081 $ 1,664,966 $ 1,699,109 Metal Containers 1,022,605 1,094,609 2,290,530 2,475,569 Custom Containers 158,850 149,411 488,031 473,431 $ 1,745,124 $ 1,803,101 $ 4,443,527 $ 4,648,109 Revenues by geography were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) North America $ 1,368,104 $ 1,437,539 $ 3,384,468 $ 3,555,971 Europe and other 377,020 365,562 1,059,059 1,092,138 $ 1,745,124 $ 1,803,101 $ 4,443,527 $ 4,648,109

Rationalization Charges

Rationalization Charges	9 Months Ended
Rationalization Charges	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Rationalization Charges	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. Rationalization charges by segment were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Dispensing and Specialty Closures $ 9,835 $ 3,836 $ 19,583 $ 5,164 Metal Containers 7,850 2,588 13,927 7,944 Custom Containers 1,798 — 4,523 104 $ 19,483 $ 6,424 $ 38,033 $ 13,212 Activity in reserves for our rationalization plans were as follows: Employee Plant Non-Cash Total (Dollars in thousands) Balance at December 31, 2023 $ 33,555 $ 465 $ — $ 34,020 Charged to expense 6,723 19,942 11,368 38,033 Utilized and currency translation (10,842) (20,407) (11,368) (42,617) Balance at September 30, 2024 $ 29,436 $ — $ — $ 29,436 Non-cash asset write-downs were the result of comparing the carrying value of certain facilities and production related equipment to their fair value using estimated future discounted cash flows, a Level 3 fair value measurement (see Note 7 for information regarding a Level 3 fair value measurement). Rationalization reserves as of September 30, 2024 were recorded in our Condensed Consolidated Balance Sheet as accrued liabilities of $3.6 million and other liabilities of $25.8 million. Excluding the impact of our withdrawal from the Central States, Southeast and Southwest Areas Pension Plan, or the Central States Pension Plan, in 2019, remaining expenses and cash expenditures for our rationalization plans are expected to be $6.9 million and $9.5 million, respectively. Remaining expenses for the accretion of interest for the withdrawal liability related to the Central States Pension Plan are expected to average approximately $0.8 million per year and be recognized annually through 2040, and remaining cash expenditures for the withdrawal liability related to the Central States Pension Plan are expected to be approximately $2.6 million annually through 2040.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
Accumulated Other Comprehensive Loss	Sep. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss is reported in our Condensed Consolidated Statements of Stockholders’ Equity. Amounts included in accumulated other comprehensive loss, net of tax, were as follows: Unrecognized Net Change in Fair Foreign Total (Dollars in thousands) Balance at December 31, 2023 $ (133,523) $ (216) $ (117,622) $ (251,361) Other comprehensive loss before reclassifications — 837 (12,954) (12,117) Amounts reclassified from accumulated other comprehensive loss 4,533 (1,652) — 2,881 Other comprehensive loss 4,533 (815) (12,954) (9,236) Balance at September 30, 2024 $ (128,990) $ (1,031) $ (130,576) $ (260,597) The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the three and nine months ended September 30, 2024 were net (losses) of $(2.2) million and $(5.7) million, respectively, excluding income tax benefits of $0.4 million and $1.2 million, respectively. For the three and nine months ended September 30, 2024, these net (losses) consisted primarily of amortization of net actuarial (losses) of $(2.1) million and $(5.7) million, respectively. Amortization of net actuarial losses and net prior service cost was recorded in other pension and postretirement income in our Condensed Consolidated Statements of Income. See Note 10 for further information. The amounts reclassified to earnings from the change in fair value of derivatives component of accumulated other comprehensive loss for the three and nine months ended September 30, 2024 were not significant.

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: Sept. 30, 2024 Sept. 30, 2023 Dec. 31, 2023 (Dollars in thousands) Raw materials $ 400,916 $ 460,137 $ 465,375 Work-in-process 192,986 220,164 219,462 Finished goods 486,641 565,790 556,737 Other 17,282 17,234 16,616 1,097,825 1,263,325 1,258,190 Adjustment to value inventory at cost on the LIFO method (317,382) (344,312) (317,382) $ 780,443 $ 919,013 $ 940,808

Long-Term Debt

Long-Term Debt	9 Months Ended
Long-Term Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: Sept. 30, 2024 Sept. 30, 2023 Dec. 31, 2023 (Dollars in thousands) Bank debt Bank revolving loans $ 505,000 $ 818,000 $ — U.S. term loans 850,000 950,000 950,000 Other foreign bank revolving and term loans 43,127 75,502 56,243 Total bank debt 1,398,127 1,843,502 1,006,243 3¼% Senior Notes 725,400 688,155 717,990 4⅛% Senior Notes 600,000 600,000 600,000 2¼% Senior Notes 558,000 529,350 552,300 1.4% Senior Secured Notes 500,000 500,000 500,000 Finance leases 36,342 63,663 63,302 Total debt - principal 3,817,869 4,224,670 3,439,835 Less unamortized debt issuance costs and debt discount 9,819 14,176 13,069 Total debt 3,808,050 4,210,494 3,426,766 Less current portion 1,254,391 897,809 880,315 $ 2,553,659 $ 3,312,685 $ 2,546,451 At September 30, 2024, the current portion of long-term debt consisted of $725.4 million of 3¼% Senior Notes due 2025, or the 3¼% Senior Notes, $505.0 million of U.S. revolving loans under our amended and restated senior secured credit facility, as amended, or the Credit Agreement, $22.3 million of other foreign bank revolving and term loans and $1.7 million of finance leases. See Note 15 for further information.

Financial Instruments

Financial Instruments	9 Months Ended
Financial Instruments	Sep. 30, 2024
Investments, All Other Investments [Abstract]
Financial Instruments	Financial Instruments The financial instruments recorded in our Condensed Consolidated Balance Sheets include cash and cash equivalents, trade accounts receivable, trade accounts payable, debt obligations and swap agreements. Due to their short-term maturity, the carrying amounts of trade accounts receivable and trade accounts payable approximate their fair market values. The following table summarizes the carrying amounts and estimated fair values of our other financial instruments at September 30, 2024: Carrying Fair (Dollars in thousands) Assets: Cash and cash equivalents $ 368,507 $ 368,507 Liabilities: Bank debt $ 1,398,127 $ 1,398,127 3¼% Senior Notes 725,400 723,949 4⅛% Senior Notes 599,532 585,354 2¼% Senior Notes 558,000 524,609 1.4% Senior Secured Notes 499,916 474,235 Fair Value Measurements GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). GAAP classifies the inputs used to measure fair value into a hierarchy consisting of three levels. Level 1 inputs represent unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 inputs represent unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 inputs represent unobservable inputs for the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Financial Instruments Measured at Fair Value The financial assets and liabilities that were measured on a recurring basis at September 30, 2024 consisted of our cash and cash equivalents and derivative instruments. We measured the fair value of cash and cash equivalents using Level 1 inputs. We measured the fair value of our derivative instruments using the income approach. The fair value of our derivative instruments reflects the estimated amounts that we would pay or receive based on the present value of the expected cash flows derived from market interest rates and prices. As such, these derivative instruments were classified within Level 2. Financial Instruments Not Measured at Fair Value Our bank debt, 3¼% Senior Notes, 4⅛% Senior Notes, 2¼% Senior Notes and 1.4% Senior Secured Notes were recorded at historical amounts in our Condensed Consolidated Balance Sheets, as we have not elected to measure them at fair value. We measured the fair value of our variable rate bank debt using the market approach based on Level 2 inputs. Fair values of the 3¼% Senior Notes, 4⅛% Senior Notes, 2¼% Senior Notes and 1.4% Senior Secured Notes were estimated based on quoted market prices, a Level 1 input. Derivative Instruments and Hedging Activities Our derivative financial instruments were recorded in the Condensed Consolidated Balance Sheets at their fair values. Changes in fair values of derivatives are recorded in each period in earnings or comprehensive income, depending on whether a derivative is designated as part of a hedge transaction and, if it is, the type of hedge transaction. We utilize certain derivative financial instruments to manage a portion of our interest rate and natural gas cost exposures. We generally limit our use of derivative financial instruments to interest rate and natural gas swap agreements. We do not engage in trading or other speculative uses of these financial instruments. For a financial instrument to qualify as a hedge, we must be exposed to interest rate or price risk, and the financial instrument must reduce the exposure and be designated as a hedge. Financial instruments qualifying for hedge accounting must maintain a high correlation between the hedging instrument and the item being hedged, both at inception and throughout the hedged period. We also utilize certain internal hedging strategies to minimize our foreign currency exchange rate risk. Net investment hedges that qualify for hedge accounting result in the recognition of foreign currency gains or losses, net of tax, in accumulated other comprehensive loss. Interest Rate Swap Agreements In March 2023, we entered into $300 million aggregate notional principal amount of U.S. dollar interest rate swap agreements to manage a portion of our exposure to interest rate fluctuations. These agreements have a weighted average fixed rate of 3.90 percent, mature in April 2026 and 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 nine months ended September 30, 2024. The total fair value of our interest rate swaps agreements in effect at September 30, 2024 was not significant. See Note 15 for further information. Natural Gas Swap Agreements We 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 nine months ended September 30, 2024. 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 September 30, 2024 was not significant. Foreign Currency Exchange Rate Risk In 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 3¼% Senior Notes which are Euro denominated. Foreign currency (losses) related to our net investment hedges included in accumulated other comprehensive loss for the three and nine months ended September 30, 2024 were $(20.9) million and $(5.4) million, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are a party to other legal proceedings, contract disputes and claims arising in the ordinary course of our business. We are not a party to, and none of our properties are subject to, any pending legal proceedings which could have a material adverse effect on our business or financial condition.

Supply Chain Finance Program

Supply Chain Finance Program	9 Months Ended
Supply Chain Finance Program	Sep. 30, 2024
Payables and Accruals [Abstract]
Supply Chain Finance Program	Supply Chain Finance Program We have a supply chain finance (“SCF”) program with a major global financial institution. Under this SCF program, a qualifying supplier may elect, but is not obligated, to sell its receivables from us to such financial institution. Once a qualifying supplier elects to participate in this SCF program, all of our payments to the participating supplier are paid to such financial institution in this SCF program on the invoice due date under our agreement with such supplier, regardless of whether the individual invoice was sold by the supplier to such financial institution. We may terminate our agreement with the financial institution upon at least 30 days’ notice, and the financial institution may terminate our agreement upon at least 10 days’ notice. Additionally, suppliers who elect to participate in this SCF program may terminate their participation upon at least 30 days’ notice. The suppliers' invoices sold under this SCF program can be outstanding up to 210 days from the invoice date. Suppliers’ invoices included in this SCF program were $284.2 million, $294.1 million and $330.2 million at September 30, 2024 and 2023 and December 31, 2023, respectively, and were included in accounts payable in our Condensed Consolidated Balance Sheets.

Retirement Benefits

Retirement Benefits	9 Months Ended
Retirement Benefits	Sep. 30, 2024
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits The components of the net periodic pension benefit cost were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Service cost $ 1,990 $ 1,962 $ 6,319 $ 6,425 Interest cost 8,592 8,617 25,413 26,050 Expected return on plan assets (10,772) (10,211) (32,314) (30,587) Amortization of prior service cost 22 29 68 82 Amortization of actuarial losses 2,232 2,845 5,937 8,729 Net periodic benefit cost $ 2,064 $ 3,242 $ 5,423 $ 10,699 The components of the net periodic other postretirement benefit cost (credit) were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Service cost $ 8 $ 12 $ 22 $ 38 Interest cost 151 181 483 559 Amortization of prior service credit (5) (237) (15) (705) Amortization of actuarial gains (102) (141) (270) (464) Net periodic benefit cost (credit) $ 52 $ (185) $ 220 $ (572)

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesSilgan and its subsidiaries file U.S. Federal income tax returns, as well as income tax returns in various states and foreign jurisdictions. The Internal Revenue Service, or IRS, has completed its review of the 2022 tax year with no change to our filed federal income tax return. We have been accepted into the Compliance Assurance Program for the 2023 and 2024 tax years which provides for the review by the IRS of tax matters relating to our tax return prior to filing.

Treasury Stock

Treasury Stock	9 Months Ended
Treasury Stock	Sep. 30, 2024
Equity [Abstract]
Treasury Stock	Treasury Stock On March 4, 2022, our Board of Directors authorized the repurchase by us of up to an aggregate of $300.0 million of our common stock by various means from time to time through and including December 31, 2026. We did not repurchase any shares of our common stock pursuant to this authorization during the nine months ended September 30, 2024. At September 30, 2024, we had approximately $93.3 million remaining under this authorization for the repurchase of our common stock. During the first nine months of 2024, we issued 470,788 treasury shares which had an average cost of $3.19 per share for restricted stock units that vested during the period that had been previously issued under our stock-based compensation plans. In accordance with the applicable agreements for such restricted stock units, we repurchased 176,093 shares of our common stock at an average cost of $43.92 to satisfy minimum employee withholding tax requirements resulting from the vesting of such restricted stock units. We account for treasury shares using the first-in, first-out (FIFO) cost method. As of September 30, 2024, 68,317,846 shares of our common stock were held in treasury.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation We currently have one stock-based compensation plan in effect under which we have issued restricted stock units to our officers, other key employees and outside directors. During the first nine months of 2024, 490,672 restricted stock units were granted to certain of our officers, other key employees and outside directors. The fair value of these restricted stock units at the grant date was $21.6 million, which is being amortized ratably over the respective vesting period from the grant date.

Segment Information

Segment Information	9 Months Ended
Segment Information	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We evaluate performance of our business segments and allocate resources based on the adjusted EBIT of our business segments. Adjusted EBIT is not a defined term under GAAP. We define adjusted EBIT as income before interest and income taxes excluding acquired intangible asset amortization expense, other pension (income) expense for U.S. pension plans, rationalization charges and costs attributed to announced acquisitions. Adjusted EBIT should not be considered in isolation or as a substitute for income before interest and income taxes or any other financial data prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies. Reportable segment information was as follows: Dispensing and Specialty Closures Metal Custom Corporate Total (Dollars in thousands) Three Months Ended September 30, 2024 Net sales $ 563,669 $ 1,022,605 $ 158,850 $ — $ 1,745,124 Income before interest and income taxes 74,659 89,307 17,136 (13,815) 167,287 Adjusted EBIT 95,216 97,065 20,011 (6,704) 205,588 Depreciation 25,755 19,801 8,747 47 54,350 Three Months Ended September 30, 2023 Net sales $ 559,081 $ 1,094,609 $ 149,411 $ — $ 1,803,101 Income before interest and income taxes 77,949 110,185 10,668 (4,711) 194,091 Adjusted EBIT 93,786 113,519 11,839 (4,711) 214,433 Depreciation 25,691 18,177 8,089 8 51,965 Nine Months Ended September 30, 2024 Net sales $ 1,664,966 $ 2,290,530 $ 488,031 $ — $ 4,443,527 Income before interest and income taxes 213,320 187,290 55,464 (35,215) 420,859 Adjusted EBIT 265,773 200,532 62,724 (22,597) 506,432 Depreciation 76,290 57,606 26,634 115 160,645 Nine Months Ended September 30, 2023 Net sales $ 1,699,109 $ 2,475,569 $ 473,431 $ — $ 4,648,109 Income before interest and income taxes 212,612 231,563 46,082 (20,945) 469,312 Adjusted EBIT 253,604 241,659 50,317 (20,945) 524,635 Depreciation 76,206 54,693 25,923 66 156,888 Total adjusted EBIT is reconciled to income before income taxes as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Total adjusted EBIT $ 205,588 $ 214,433 $ 506,432 $ 524,635 Less: Acquired intangible asset amortization expense 12,367 13,309 38,004 39,834 Other pension (income) expense for U.S. pension plans (660) 609 (3,082) 2,277 Rationalization charges 19,483 6,424 38,033 13,212 Costs attributed to announced acquisitions 7,111 — 12,618 — Income before interest and income taxes 167,287 194,091 420,859 469,312 Less interest and other debt expense 41,871 47,264 121,861 130,822 Income before income taxes $ 125,416 $ 146,827 $ 298,998 $ 338,490 Net sales and adjusted EBIT of our metal containers segment and of part of our dispensing and specialty closures segment are dependent, in part, upon the vegetable and fruit harvests in the United States and, to a lesser extent, in a variety of national growing regions in Europe. The size and quality of these harvests varies from year to year, depending in large part upon the weather conditions in applicable regions. Because of the seasonality of the harvests, we have historically experienced higher unit sales volume in the third quarter of our fiscal year and generated a disproportionate amount of our annual adjusted EBIT during that quarter.

Subsequent Events

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Weener Plastics Holding B.V. Acquisition On October 15, 2024, we acquired Weener Plastics Holding B.V., or Weener, a leading producer of differentiated dispensing solutions for personal care, food and healthcare products. Weener operates a global network of 19 facilities predominantly in Europe and the Americas, with approximately 4,000 employees and proprietary manufacturing technologies including significant clean room capabilities. The purchase price for this acquisition of approximately €844.2 million, net of cash acquired, was funded with term and revolving loan borrowings under the Credit Agreement, including a new €700.0 million incremental term loan, and cash on hand. Euro Interest Rate Swap Agreements In October 2024, we entered into €685.0 million aggregate notional principal amount of Euro interest rate swap agreements to manage a portion of our exposure to interest rate fluctuations for our Euro term loans under the Credit Agreement, which mature as follows: €35.0 million in October 2026, €70.0 million in October 2027 and €580.0 million in October 2030. These agreements have a weighted average fixed rate of 2.43 percent and were entered into with financial institutions which are expected to fully perform under the terms thereof. Amendment to Bank Credit Agreement On November 4, 2024, we and certain of our wholly owned subsidiaries amended the Credit Agreement by entering into a Fifth Amendment to Amended and Restated Credit Agreement (the “Fifth Amendment”) with the Lenders therein and Wells Fargo Bank, National Association, as Administrative Agent. The Fifth Amendment: • refinanced outstanding term loans and revolving loans thereunder and extended the maturity dates to (i) November 4, 2029 with respect to revolving loans and (ii) November 4, 2030 with respect to term loans; • increased the aggregate amount of Euro term loans thereunder from €700.0 million to €900.0 million, with the additional €200.0 million of Euro term loans being used to repay revolving loans under the Credit Agreement that were used to fund a portion of the purchase price for Weener and to pay fees, expenses and costs associated with the Fifth Amendment. • removed the springing maturity date provisions that would have shortened the maturity dates under the Credit Agreement to the date that is 91 days prior to the maturity dates of the 3¼% Senior Notes and 1.4% Senior Secured Notes due 2026 (unless such notes were refinanced or repaid prior thereto); • improved the interest rate margin grid for term loans; • increased the uncommitted multi-currency incremental loan facility from $1.25 billion to $1.5 billion; • amended certain covenants to provide additional flexibility; and • amended certain other terms of the Credit Agreement.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 100,053	$ 110,617	$ 231,314	$ 261,536

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying unaudited condensed consolidated financial statements of Silgan Holdings Inc., or Silgan, have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, the accompanying financial statements include all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation. The results of operations for any interim period are not necessarily indicative of the results of operations for the full year. The Condensed Consolidated Balance Sheet at December 31, 2023 has been derived from our audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. You should read the accompanying condensed consolidated financial statements in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023. Certain prior year amounts have been reclassified to conform with the current year's presentation.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets. We review goodwill and other indefinite-lived intangible assets for impairment as of July 1 of each year and more frequently if circumstances indicate a possible impairment. We determined that our goodwill and other indefinite-lived intangible assets were not impaired in our annual 2024 assessment performed during the third quarter.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Revenues by segment were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Dispensing and Specialty Closures $ 563,669 $ 559,081 $ 1,664,966 $ 1,699,109 Metal Containers 1,022,605 1,094,609 2,290,530 2,475,569 Custom Containers 158,850 149,411 488,031 473,431 $ 1,745,124 $ 1,803,101 $ 4,443,527 $ 4,648,109 Revenues by geography were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) North America $ 1,368,104 $ 1,437,539 $ 3,384,468 $ 3,555,971 Europe and other 377,020 365,562 1,059,059 1,092,138 $ 1,745,124 $ 1,803,101 $ 4,443,527 $ 4,648,109

Rationalization Charges (Tables

Rationalization Charges (Tables)	9 Months Ended
Rationalization Charges (Tables)	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Activity in Rationalization Plan Reserves	Rationalization charges by segment were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Dispensing and Specialty Closures $ 9,835 $ 3,836 $ 19,583 $ 5,164 Metal Containers 7,850 2,588 13,927 7,944 Custom Containers 1,798 — 4,523 104 $ 19,483 $ 6,424 $ 38,033 $ 13,212 Activity in reserves for our rationalization plans were as follows: Employee Plant Non-Cash Total (Dollars in thousands) Balance at December 31, 2023 $ 33,555 $ 465 $ — $ 34,020 Charged to expense 6,723 19,942 11,368 38,033 Utilized and currency translation (10,842) (20,407) (11,368) (42,617) Balance at September 30, 2024 $ 29,436 $ — $ — $ 29,436

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Sep. 30, 2024
Equity [Abstract]
Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax	Amounts included in accumulated other comprehensive loss, net of tax, were as follows: Unrecognized Net Change in Fair Foreign Total (Dollars in thousands) Balance at December 31, 2023 $ (133,523) $ (216) $ (117,622) $ (251,361) Other comprehensive loss before reclassifications — 837 (12,954) (12,117) Amounts reclassified from accumulated other comprehensive loss 4,533 (1,652) — 2,881 Other comprehensive loss 4,533 (815) (12,954) (9,236) Balance at September 30, 2024 $ (128,990) $ (1,031) $ (130,576) $ (260,597)

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: Sept. 30, 2024 Sept. 30, 2023 Dec. 31, 2023 (Dollars in thousands) Raw materials $ 400,916 $ 460,137 $ 465,375 Work-in-process 192,986 220,164 219,462 Finished goods 486,641 565,790 556,737 Other 17,282 17,234 16,616 1,097,825 1,263,325 1,258,190 Adjustment to value inventory at cost on the LIFO method (317,382) (344,312) (317,382) $ 780,443 $ 919,013 $ 940,808

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
Long-Term Debt (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt consisted of the following: Sept. 30, 2024 Sept. 30, 2023 Dec. 31, 2023 (Dollars in thousands) Bank debt Bank revolving loans $ 505,000 $ 818,000 $ — U.S. term loans 850,000 950,000 950,000 Other foreign bank revolving and term loans 43,127 75,502 56,243 Total bank debt 1,398,127 1,843,502 1,006,243 3¼% Senior Notes 725,400 688,155 717,990 4⅛% Senior Notes 600,000 600,000 600,000 2¼% Senior Notes 558,000 529,350 552,300 1.4% Senior Secured Notes 500,000 500,000 500,000 Finance leases 36,342 63,663 63,302 Total debt - principal 3,817,869 4,224,670 3,439,835 Less unamortized debt issuance costs and debt discount 9,819 14,176 13,069 Total debt 3,808,050 4,210,494 3,426,766 Less current portion 1,254,391 897,809 880,315 $ 2,553,659 $ 3,312,685 $ 2,546,451

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
Financial Instruments (Tables)	Sep. 30, 2024
Investments, All Other Investments [Abstract]
Summary of Carrying Amounts and Estimated Fair Values of Other Financial Instruments	The following table summarizes the carrying amounts and estimated fair values of our other financial instruments at September 30, 2024: Carrying Fair (Dollars in thousands) Assets: Cash and cash equivalents $ 368,507 $ 368,507 Liabilities: Bank debt $ 1,398,127 $ 1,398,127 3¼% Senior Notes 725,400 723,949 4⅛% Senior Notes 599,532 585,354 2¼% Senior Notes 558,000 524,609 1.4% Senior Secured Notes 499,916 474,235

Retirement Benefits (Tables)

Retirement Benefits (Tables)	9 Months Ended
Retirement Benefits (Tables)	Sep. 30, 2024
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost (Credit)	The components of the net periodic pension benefit cost were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Service cost $ 1,990 $ 1,962 $ 6,319 $ 6,425 Interest cost 8,592 8,617 25,413 26,050 Expected return on plan assets (10,772) (10,211) (32,314) (30,587) Amortization of prior service cost 22 29 68 82 Amortization of actuarial losses 2,232 2,845 5,937 8,729 Net periodic benefit cost $ 2,064 $ 3,242 $ 5,423 $ 10,699 The components of the net periodic other postretirement benefit cost (credit) were as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Service cost $ 8 $ 12 $ 22 $ 38 Interest cost 151 181 483 559 Amortization of prior service credit (5) (237) (15) (705) Amortization of actuarial gains (102) (141) (270) (464) Net periodic benefit cost (credit) $ 52 $ (185) $ 220 $ (572)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Reportable Operating Segment Information	Reportable segment information was as follows: Dispensing and Specialty Closures Metal Custom Corporate Total (Dollars in thousands) Three Months Ended September 30, 2024 Net sales $ 563,669 $ 1,022,605 $ 158,850 $ — $ 1,745,124 Income before interest and income taxes 74,659 89,307 17,136 (13,815) 167,287 Adjusted EBIT 95,216 97,065 20,011 (6,704) 205,588 Depreciation 25,755 19,801 8,747 47 54,350 Three Months Ended September 30, 2023 Net sales $ 559,081 $ 1,094,609 $ 149,411 $ — $ 1,803,101 Income before interest and income taxes 77,949 110,185 10,668 (4,711) 194,091 Adjusted EBIT 93,786 113,519 11,839 (4,711) 214,433 Depreciation 25,691 18,177 8,089 8 51,965 Nine Months Ended September 30, 2024 Net sales $ 1,664,966 $ 2,290,530 $ 488,031 $ — $ 4,443,527 Income before interest and income taxes 213,320 187,290 55,464 (35,215) 420,859 Adjusted EBIT 265,773 200,532 62,724 (22,597) 506,432 Depreciation 76,290 57,606 26,634 115 160,645 Nine Months Ended September 30, 2023 Net sales $ 1,699,109 $ 2,475,569 $ 473,431 $ — $ 4,648,109 Income before interest and income taxes 212,612 231,563 46,082 (20,945) 469,312 Adjusted EBIT 253,604 241,659 50,317 (20,945) 524,635 Depreciation 76,206 54,693 25,923 66 156,888
Reconciliation of Adjusted EBIT to Income before Income Taxes	Total adjusted EBIT is reconciled to income before income taxes as follows: Three Months Ended Nine Months Ended Sept. 30, 2024 Sept. 30, 2023 Sept. 30, 2024 Sept. 30, 2023 (Dollars in thousands) Total adjusted EBIT $ 205,588 $ 214,433 $ 506,432 $ 524,635 Less: Acquired intangible asset amortization expense 12,367 13,309 38,004 39,834 Other pension (income) expense for U.S. pension plans (660) 609 (3,082) 2,277 Rationalization charges 19,483 6,424 38,033 13,212 Costs attributed to announced acquisitions 7,111 — 12,618 — Income before interest and income taxes 167,287 194,091 420,859 469,312 Less interest and other debt expense 41,871 47,264 121,861 130,822 Income before income taxes $ 125,416 $ 146,827 $ 298,998 $ 338,490

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,745,124	$ 1,803,101	$ 4,443,527	$ 4,648,109
Trade Accounts Receivable \| Unbilled Accounts Receivable
Segment Reporting Information [Line Items]
Contract assets	110,700	104,200	110,700	104,200	$ 100,000
North America
Segment Reporting Information [Line Items]
Net sales	1,368,104	1,437,539	3,384,468	3,555,971
Europe and other
Segment Reporting Information [Line Items]
Net sales	377,020	365,562	1,059,059	1,092,138
Dispensing and Specialty Closures
Segment Reporting Information [Line Items]
Net sales	563,669	559,081	1,664,966	1,699,109
Metal Containers
Segment Reporting Information [Line Items]
Net sales	1,022,605	1,094,609	2,290,530	2,475,569
Custom Containers
Segment Reporting Information [Line Items]
Net sales	$ 158,850	$ 149,411	$ 488,031	$ 473,431

Rationalization Charges - Ratio

Rationalization Charges - Rationalization Charges by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Rationalization charges	$ 19,483	$ 6,424	$ 38,033	$ 13,212
Dispensing and Specialty Closures
Restructuring Cost and Reserve [Line Items]
Rationalization charges	9,835	3,836	19,583	5,164
Metal Containers
Restructuring Cost and Reserve [Line Items]
Rationalization charges	7,850	2,588	13,927	7,944
Custom Containers
Restructuring Cost and Reserve [Line Items]
Rationalization charges	$ 1,798	$ 0	$ 4,523	$ 104

Rationalization Charges - Activ

Rationalization Charges - Activity in Rationalization Plan Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023			$ 34,020
Charged to expense	$ 19,483	$ 6,424	38,033	$ 13,212
Utilized and currency translation			(42,617)
Balance at September 30, 2024	29,436		29,436
Employee Severance and Benefits
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023			33,555
Charged to expense			6,723
Utilized and currency translation			(10,842)
Balance at September 30, 2024	29,436		29,436
Plant Exit Costs
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023			465
Charged to expense			19,942
Utilized and currency translation			(20,407)
Balance at September 30, 2024	0		0
Non-Cash Asset Write-Downs
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023			0
Charged to expense			11,368
Utilized and currency translation			(11,368)
Balance at September 30, 2024	$ 0		$ 0

Rationalization Charges - Narra

Rationalization Charges - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 29,436	$ 34,020
Other Restructuring \| Rationalization Plan
Restructuring Cost and Reserve [Line Items]
Remaining expenses	6,900
Remaining cash expenditures	9,500
Annually Through 2040 \| Central States Pension Plan withdrawal
Restructuring Cost and Reserve [Line Items]
Remaining cash expenditures	2,600
Accretion expense	800
Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	3,600
Other Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 25,800

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ 1,889,358
Other comprehensive loss before reclassifications			(12,117)
Amounts reclassified from accumulated other comprehensive loss			2,881
Other comprehensive income (loss)	$ 36,933	$ (30,032)	(9,236)	$ 35,724
Ending balance	2,053,970	1,781,889	2,053,970	1,781,889
Accumulated other comprehensive loss
Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(297,530)	(279,554)	(251,361)	(345,310)
Ending balance	(260,597)	$ (309,586)	(260,597)	$ (309,586)
Unrecognized Net Defined Benefit Plan Costs
Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(133,523)
Other comprehensive loss before reclassifications			0
Amounts reclassified from accumulated other comprehensive loss			4,533
Other comprehensive income (loss)			4,533
Ending balance	(128,990)		(128,990)
Change in Fair Value of Derivatives
Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(216)
Other comprehensive loss before reclassifications			837
Amounts reclassified from accumulated other comprehensive loss			(1,652)
Other comprehensive income (loss)			(815)
Ending balance	(1,031)		(1,031)
Foreign Currency Translation
Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(117,622)
Other comprehensive loss before reclassifications			(12,954)
Amounts reclassified from accumulated other comprehensive loss			0
Other comprehensive income (loss)			(12,954)
Ending balance	$ (130,576)		$ (130,576)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Unrecognized Net Defined Benefit Plan Costs
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive (loss) reclassification adjustment from AOCI	$ (2.2)	$ (5.7)
Benefit for income taxes	0.4	1.2
Amortization of net actuarial (losses), before tax	(2.1)	(5.7)
Accumulated Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency gains (losses)	54.8	(8.9)
Foreign currency gains of net investment hedges included in accumulated other comprehensive	(20.9)	(5.4)
Foreign currency translation, tax benefit (provision) related to net investment hedges	$ 5	$ 1.3

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 400,916	$ 465,375	$ 460,137
Work-in-process	192,986	219,462	220,164
Finished goods	486,641	556,737	565,790
Other	17,282	16,616	17,234
Inventories, gross	1,097,825	1,258,190	1,263,325
Adjustment to value inventory at cost on the LIFO method	(317,382)	(317,382)	(344,312)
Inventories	$ 780,443	$ 940,808	$ 919,013

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Debt Instrument [Line Items]
Total debt - principal	$ 3,817,869	$ 3,439,835	$ 4,224,670
Less unamortized debt issuance costs and debt discount	9,819	13,069	14,176
Total debt	3,808,050	3,426,766	4,210,494
Less current portion	1,254,391	880,315	897,809
Long-term debt	2,553,659	2,546,451	3,312,685
Bank debt
Debt Instrument [Line Items]
Total debt - principal	1,398,127	1,006,243	1,843,502
3¼% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Total debt - principal	725,400
Less current portion	$ 725,400
Senior note interest rate	3.25%
Finance leases
Debt Instrument [Line Items]
Total debt - principal	$ 36,342	63,302	63,663
Bank revolving loans \| Bank debt
Debt Instrument [Line Items]
Total debt - principal	505,000	0	818,000
U.S. term loans \| Bank debt
Debt Instrument [Line Items]
Total debt - principal	850,000	950,000	950,000
Other foreign bank revolving and term loans \| Bank debt
Debt Instrument [Line Items]
Total debt - principal	43,127	56,243	75,502
Less current portion	22,300
Senior Notes \| 3¼% Senior Notes
Debt Instrument [Line Items]
Total debt - principal		717,990	688,155
Senior Notes \| 4⅛% Senior Notes
Debt Instrument [Line Items]
Total debt - principal	$ 600,000	600,000	600,000
Senior note interest rate	4.125%
Senior Notes \| 2¼% Senior Notes
Debt Instrument [Line Items]
Total debt - principal	$ 558,000	552,300	529,350
Senior note interest rate	2.25%
Senior Notes \| 1.4% Senior Secured Notes
Debt Instrument [Line Items]
Total debt - principal	$ 500,000	$ 500,000	$ 500,000
Senior note interest rate	1.40%
U.S. revolving loans \| Bank debt
Debt Instrument [Line Items]
Less current portion	$ 505,000
Finance leases
Debt Instrument [Line Items]
Less current portion	$ 1,700

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 1,254,391	$ 880,315	$ 897,809
Finance leases
Debt Instrument [Line Items]
Long-term debt, current maturities	1,700
Bank debt \| Other Foreign Bank Revolving and Term Loans
Debt Instrument [Line Items]
Long-term debt, current maturities	22,300
3¼% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 725,400

Financial Instruments - Carryin

Financial Instruments - Carrying Amounts and Estimated Fair Values of Other Financial Instruments (Details) $ in Thousands	Sep. 30, 2024 USD ($)
3¼% Senior Notes \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior note interest rate	3.25%
Senior Notes \| 4⅛% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior note interest rate	4.125%
Senior Notes \| 2¼% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior note interest rate	2.25%
Senior Notes \| 1.4% Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior note interest rate	1.40%
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 368,507
Carrying Amount \| 3¼% Senior Notes \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term senior notes	725,400
Carrying Amount \| Bank debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term senior notes	1,398,127
Carrying Amount \| Senior Notes \| 4⅛% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term senior notes	599,532
Carrying Amount \| Senior Notes \| 2¼% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term senior notes	558,000
Carrying Amount \| Senior Notes \| 1.4% Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term senior notes	499,916
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	368,507
Fair Value \| 3¼% Senior Notes \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term senior notes	723,949
Fair Value \| Bank debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term senior notes	1,398,127
Fair Value \| Senior Notes \| 4⅛% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term senior notes	585,354
Fair Value \| Senior Notes \| 2¼% Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term senior notes	524,609
Fair Value \| Senior Notes \| 1.4% Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term senior notes	$ 474,235

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Mar. 31, 2023
2¼% Senior Notes \| Senior Notes
Derivative [Line Items]
Senior note interest rate	2.25%	2.25%
4⅛% Senior Notes \| Senior Notes
Derivative [Line Items]
Senior note interest rate	4.125%	4.125%
3¼% Senior Notes \| Senior Notes
Derivative [Line Items]
Senior note interest rate	3.25%	3.25%
1.4% Senior Secured Notes \| Senior Notes
Derivative [Line Items]
Senior note interest rate	1.40%	1.40%
USD Interest Rate Swap, Maturity Date April, 2026
Derivative [Line Items]
Derivative, notional amount			$ 300
Fixed interest rate			3.90%
Accumulated Translation Adjustment
Derivative [Line Items]
Foreign currency (losses) gains of net investment hedges included in accumulated other comprehensive loss	$ (20.9)	$ (5.4)

Supply Chain Finance Program (D

Supply Chain Finance Program (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Payables and Accruals [Abstract]
Termination notice period (at least)	30 days
Termination notice period by financial institution (at least)	10 days
Supply chain finance program, payment period (up to)	210 days
Supplier chain finance program obligation, current	$ 284.2	$ 330.2	$ 294.1

Retirement Benefits - Component

Retirement Benefits - Components of Net Periodic Benefit Cost (Credit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pension Benefit Cost (Credit)
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,990	$ 1,962	$ 6,319	$ 6,425
Interest cost	8,592	8,617	25,413	26,050
Expected return on plan assets	(10,772)	(10,211)	(32,314)	(30,587)
Amortization of prior service cost	22	29	68	82
Amortization of actuarial losses (gains)	2,232	2,845	5,937	8,729
Net periodic benefit cost (credit)	2,064	3,242	5,423	10,699
Other Postretirement Benefit Credit
Defined Benefit Plan Disclosure [Line Items]
Service cost	8	12	22	38
Interest cost	151	181	483	559
Amortization of prior service cost	(5)	(237)	(15)	(705)
Amortization of actuarial losses (gains)	(102)	(141)	(270)	(464)
Net periodic benefit cost (credit)	$ 52	$ (185)	$ 220	$ (572)

Treasury Stock (Details)

Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2024	Mar. 04, 2022
Equity, Class of Treasury Stock [Line Items]
Treasury stock (in shares)	68,317,846
2022 BOD Authorized Common Stock Repurchase
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, additional repurchase authorization		$ 300
Remaining authorized repurchase amount	$ 93.3
Activity Related to Restricted Stock Units Vested Under a prior Stock-based Compensation Plan
Equity, Class of Treasury Stock [Line Items]
Treasury shares issued for restricted stock units that vested during the period (in shares)	470,788
Average cost of treasury shares that were issued for restricted stock units that vested during the period (usd per share)	$ 3.19
Shares repurchased to satisfy minimum employee withholding tax requirements resulting from the vesting of such restricted stock units (in shares)	176,093
Average cost per share of treasury stock acquired (usd per share)	$ 43.92

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ in Millions	9 Months Ended
Stock-Based Compensation (Details) $ in Millions	Sep. 30, 2024 USD ($) plan shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation arrangements \| plan	1
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (in shares) \| shares	490,672
Fair value of restricted stock units granted \| $	$ 21.6

Segment Information - Reportabl

Segment Information - Reportable Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,745,124	$ 1,803,101	$ 4,443,527	$ 4,648,109
Income before interest and income taxes	167,287	194,091	420,859	469,312
Adjusted EBIT	205,588	214,433	506,432	524,635
Depreciation	54,350	51,965	160,645	156,888
Dispensing and Specialty Closures
Segment Reporting Information [Line Items]
Net sales	563,669	559,081	1,664,966	1,699,109
Income before interest and income taxes	74,659	77,949	213,320	212,612
Adjusted EBIT	95,216	93,786	265,773	253,604
Depreciation	25,755	25,691	76,290	76,206
Metal Containers
Segment Reporting Information [Line Items]
Net sales	1,022,605	1,094,609	2,290,530	2,475,569
Income before interest and income taxes	89,307	110,185	187,290	231,563
Adjusted EBIT	97,065	113,519	200,532	241,659
Depreciation	19,801	18,177	57,606	54,693
Custom Containers
Segment Reporting Information [Line Items]
Net sales	158,850	149,411	488,031	473,431
Income before interest and income taxes	17,136	10,668	55,464	46,082
Adjusted EBIT	20,011	11,839	62,724	50,317
Depreciation	8,747	8,089	26,634	25,923
Corporate
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Income before interest and income taxes	(13,815)	(4,711)	(35,215)	(20,945)
Adjusted EBIT	(6,704)	(4,711)	(22,597)	(20,945)
Depreciation	$ 47	$ 8	$ 115	$ 66

Segment Information - Reconcili

Segment Information - Reconciliation of Adjusted EBIT to Income before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total adjusted EBIT	$ 205,588	$ 214,433	$ 506,432	$ 524,635
Less:
Rationalization charges	19,483	6,424	38,033	13,212
Income before interest and income taxes	167,287	194,091	420,859	469,312
Less interest and other debt expense	41,871	47,264	121,861	130,822
Income before income taxes	125,416	146,827	298,998	338,490
Segment Reconciling Items
Less:
Acquired intangible asset amortization expense	12,367	13,309	38,004	39,834
Other pension (income) expense for U.S. pension plans	(660)	609	(3,082)	2,277
Rationalization charges	19,483	6,424	38,033	13,212
Costs attributed to announced acquisitions	$ 7,111	$ 0	$ 12,618	$ 0

Subsequent Events (Details)

Subsequent Events (Details) employee in Thousands, € in Millions, $ in Millions	Nov. 04, 2024 EUR (€)	Oct. 15, 2024 EUR (€) employee facility	Nov. 04, 2024 USD ($)	Nov. 04, 2024 EUR (€)	Nov. 03, 2024 USD ($)	Nov. 03, 2024 EUR (€)	Oct. 31, 2024 EUR (€)	Sep. 30, 2024
1.4% Senior Secured Notes \| Senior Notes
Subsequent Event [Line Items]
Senior note interest rate								1.40%
3¼% Senior Notes \| Senior Notes
Subsequent Event [Line Items]
Senior note interest rate								3.25%
Subsequent Event \| Euro Dollar Interest Rate Swap
Subsequent Event [Line Items]
Derivative, notional amount							€ 685
Fixed interest rate							2.43%
Subsequent Event \| Euro Dollar Interest Rate Swap, Maturity Date October, 2026
Subsequent Event [Line Items]
Derivative, notional amount							€ 35
Subsequent Event \| Euro Dollar Interest Rate Swap, Maturity Date October, 2027
Subsequent Event [Line Items]
Derivative, notional amount							70
Subsequent Event \| Euro Dollar Interest Rate Swap, Maturity Date October, 2030
Subsequent Event [Line Items]
Derivative, notional amount							€ 580
Subsequent Event \| Bank Borrowings Under 2021 Credit Agreement \| Euro Term Loan
Subsequent Event [Line Items]
Debt instrument, face amount						€ 700
Subsequent Event \| Bank Borrowings Under 2021 Credit Agreement \| Multicurrency Revolving Loan Facility
Subsequent Event [Line Items]
Uncommitted multi-currency incremental loan, borrowing capacity \| $					$ 1,250
Subsequent Event \| Bank Credit Agreement, Fifth Amendment \| Euro Term Loan
Subsequent Event [Line Items]
Debt instrument, face amount				€ 900
Long-term debt, maturity, year one				9
Long-term debt, maturity, year two				45
Long-term debt, maturity, year three				90
Long-term debt, maturity, year four				90
Long-term debt, maturity, year five				90
Long-term debt, maturity, after year five				€ 576
Subsequent Event \| Bank Credit Agreement, Fifth Amendment \| Multicurrency Revolving Loan Facility
Subsequent Event [Line Items]
Uncommitted multi-currency incremental loan, borrowing capacity \| $			$ 1,500
Subsequent Event \| Bank Credit Agreement, Fifth Amendment \| US Term Loans
Subsequent Event [Line Items]
Long-term debt, maturity, year one \| $			8.5
Long-term debt, maturity, year two \| $			42.5
Long-term debt, maturity, year three \| $			85
Long-term debt, maturity, year four \| $			85
Long-term debt, maturity, year five \| $			85
Long-term debt, maturity, after year five \| $			$ 544
Subsequent Event \| Bank Credit Agreement, Fifth Amendment, Portion Used to Repay Revolving Loans \| Euro Term Loan
Subsequent Event [Line Items]
Proceeds from Issuance of Debt	€ 200
Weener Plastics Holding B.V. \| Subsequent Event
Subsequent Event [Line Items]
Number of manufacturing facilities \| facility		19
Entity number of employees \| employee		4
Weener Plastics Holding B.V. \| Subsequent Event
Subsequent Event [Line Items]
Payments to acquire businesses, net of cash acquired		€ 844.2
Weener Plastics Holding B.V. \| Subsequent Event \| Incremental Term Loan
Subsequent Event [Line Items]
Business combination, liabilities incurred		€ 700