Silgan (SLGN) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	SLGN
Entity Registrant Name	Silgan Holdings Inc
Entity Central Index Key	849,869
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		60,339,652

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Current assets:
Cash and cash equivalents	$ 93,561	$ 99,945	$ 104,203
Trade accounts receivable, net	515,606	281,041	623,591
Inventories	638,091	628,138	580,276
Prepaid expenses and other current assets	51,100	36,134	29,060
Total current assets	1,298,358	1,045,258	1,337,130
Property, plant and equipment, net	1,171,240	1,125,433	1,099,873
Goodwill	614,698	612,792	617,786
Other intangible assets, net	185,435	195,087	199,475
Other assets, net	231,788	214,109	237,598
Assets, Total	3,501,519	3,192,679	3,491,862
Current liabilities:
Revolving loans and current portion of long-term debt	454,212	152,398	482,877
Trade accounts payable	316,802	477,171	342,878
Accrued payroll and related costs	51,512	45,094	55,107
Accrued liabilities	143,875	106,550	94,156
Total current liabilities	966,401	781,213	975,018
Long-term debt	1,364,199	1,361,149	1,436,013
Other liabilities	419,265	411,133	448,946
Stockholders’ equity:
Common stock	876	876	876
Paid-in capital	246,721	237,291	234,789
Retained earnings	1,544,431	1,446,193	1,429,468
Accumulated other comprehensive loss	(195,262)	(208,806)	(196,878)
Treasury stock	(845,112)	(836,370)	(836,370)
Total stockholders’ equity	751,654	639,184	631,885
Liabilities and Equity, Total	$ 3,501,519	$ 3,192,679	$ 3,491,862

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Net sales	$ 1,139,643	$ 1,203,525	$ 2,807,023	$ 2,934,355
Cost of goods sold	957,704	1,018,419	2,383,500	2,493,355
Gross profit	181,939	185,106	423,523	441,000
Selling, general and administrative expenses	51,711	54,113	162,092	162,969
Rationalization charges	7,821	9,070	13,929	10,754
Income from operations	122,407	121,923	247,502	267,277
Interest and other debt expense	17,318	17,159	50,657	50,364
Income before income taxes	105,089	104,764	196,845	216,913
Provision for income taxes	35,319	34,448	67,190	71,047
Net income	$ 69,770	$ 70,316	$ 129,655	$ 145,866
Earnings per share:
Basic net income per share	$ 1.15	$ 1.16	$ 2.14	$ 2.38
Diluted net income per share	1.15	1.16	2.13	2.37
Dividends per share	$ 0.17	$ 0.16	$ 0.51	$ 0.48
Weighted average number of shares:
Basic (in shares)	60,445	60,417	60,467	61,222
Effect of dilutive securities (in shares)	384	279	371	271
Diluted (in shares)	60,829	60,696	60,838	61,493

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 69,770	$ 70,316	$ 129,655	$ 145,866
Other comprehensive income (loss), net of tax:
Changes in net prior service credit and actuarial losses	4,181	12	5,992	1,632
Change in fair value of derivatives	228	(277)	689	(107)
Foreign currency translation	2,625	(13,834)	6,863	(32,779)
Other comprehensive income (loss)	7,034	(14,099)	13,544	(31,254)
Comprehensive income	$ 76,804	$ 56,217	$ 143,199	$ 114,612

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows provided by (used in) operating activities:
Net income	$ 129,655	$ 145,866
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	110,280	109,790
Rationalization charges	13,929	10,754
Stock compensation expense	9,724	9,098
Other changes that provided (used) cash:
Trade accounts receivable, net	(231,674)	(325,281)
Inventories	(6,546)	(43,721)
Trade accounts payable	(60,423)	8,555
Accrued liabilities	34,371	22,272
Other, net	(10,885)	15,170
Net cash used in operating activities	(11,569)	(47,497)
Cash flows provided by (used in) investing activities:
Purchase of business, net of cash acquired	0	(690)
Capital expenditures	(151,522)	(151,419)
Proceeds from asset sales	8,926	225
Net cash used in investing activities	(142,596)	(151,884)
Cash flows provided by (used in) financing activities:
Borrowings under revolving loans	601,558	692,476
Repayments under revolving loans	(303,259)	(326,026)
Proceeds from issuance of long-term debt	0	7,327
Repayments of long-term debt	(7,775)	(7,040)
Changes in outstanding checks - principally vendors	(101,765)	(82,801)
Dividends paid on common stock	(31,344)	(29,919)
Repurchase of common stock under stock plan	(2,434)	(2,892)
Repurchase of common stock under share repurchase authorization	(7,200)	(170,132)
Net cash provided by financing activities	147,781	80,993
Cash and cash equivalents:
Net decrease	(6,384)	(118,388)
Balance at beginning of year	99,945	222,591
Balance at end of period	93,561	104,203
Interest paid, net	46,899	45,541
Income taxes paid, net	$ 46,206	$ 37,546

Condensed Consolidated Stateme6

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, 2014	$ 709,956	$ 876	$ 225,449	$ 1,313,521	$ (165,624)	$ (664,266)
Beginning Balance (in shares) at Dec. 31, 2014		63,203
Increase (Decrease) in Stockholders' Equity
Net issuance of treasury stock for vested restricted stock units, including tax benefit (in shares)		96
Repurchases of common stock (in shares)		(2,906)
Net income	145,866			145,866
Other comprehensive income (loss)	(31,254)				(31,254)
Dividends declared on common stock	(29,919)			(29,919)
Stock compensation expense	9,580		9,580
Net issuance of treasury stock for vested restricted stock units, including tax benefit	(2,212)		(240)			(1,972)
Repurchases of common stock	(170,132)					(170,132)
Ending Balance at Sep. 30, 2015	631,885	$ 876	234,789	1,429,468	(196,878)	(836,370)
Ending Balance (in shares) at Sep. 30, 2015		60,393
Beginning Balance at Dec. 31, 2015	639,184	$ 876	237,291	1,446,193	(208,806)	(836,370)
Beginning Balance (in shares) at Dec. 31, 2015		60,393
Increase (Decrease) in Stockholders' Equity
Net issuance of treasury stock for vested restricted stock units, including tax benefit (in shares)		94
Repurchases of common stock (in shares)		(147)
Net income	129,655			129,655
Other comprehensive income (loss)	13,544				13,544
Dividends declared on common stock	(31,344)			(31,344)
Stock compensation expense	9,724		9,724
Adoption of accounting standard update related to stock compensation accounting	525		598	(73)
Net issuance of treasury stock for vested restricted stock units, including tax benefit	(2,434)		(892)			(1,542)
Repurchases of common stock	(7,200)					(7,200)
Ending Balance at Sep. 30, 2016	$ 751,654	$ 876	$ 246,721	$ 1,544,431	$ (195,262)	$ (845,112)
Ending Balance (in shares) at Sep. 30, 2016		60,340

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Stockholders' Equity [Abstract]
Net issuance of treasury stock for vested restricted stock units, tax benefit		$ 680

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
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, 2015 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. Certain prior year's amounts have been reclassified to conform with the current year's presentation. 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, 2015. 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 2016 assessment performed during the third quarter. Recently Adopted Accounting Pronouncements. In July 2015, the Financial Accounting Standards Board, or FASB, issued an accounting standards update, or ASU, that amends existing guidance for measuring inventories. This amendment requires us to measure inventories recorded using the first-in, first-out method and the average cost method at the lower of cost and net realizable value. This amendment did not change the methodology for measuring inventories recorded using the last-in, first-out method. As permitted, we have adopted this amendment early, effective January 1, 2016, and have applied it prospectively. The adoption of this amendment did not have a material effect on our financial position, results of operations or cash flows. In March 2016, the FASB issued an ASU that amends the guidance for stock compensation accounting. This amendment (i) requires all income tax effects of stock-based compensation awards to be recognized in the statement of income when such awards vest or are settled, (ii) allows an employer to repurchase more of an employee's shares upon the vesting or settlement of an award than it could have previously for tax withholding purposes without triggering liability accounting, (iii) allows an employer to make a policy election to recognize forfeitures in respect of awards as they occur and (iv) specifies certain classifications on the statement of cash flows related to excess tax benefits and shares repurchased from employees for tax withholding purposes. As permitted, we have adopted this amendment early, effective January 1, 2016, and have applied it (i) prospectively as it related to recognizing income tax effects of awards in the statement of income, (ii) using the modified retrospective method as it related to classifying certain awards as equity rather than liabilities and recognizing forfeitures as they occur and (iii) using the retrospective method as it related to classifying excess tax benefits on the statement of cash flows. The adoption of this amendment did not have a material effect on our financial position, results of operations or cash flows. Recently Issued Accounting Pronouncements. In May 2014, the FASB issued an ASU that amends the guidance for revenue recognition. This amendment contains principles that will require an entity to recognize revenue to depict the transfer of goods and services to customers at an amount that an entity expects to be entitled to in exchange for those goods or services. This amendment permits the use of one of two retrospective transition methods. This amendment will be effective for us on January 1, 2018, with early adoption permitted up to one year prior to the effective date. We have not yet selected a transition method and are currently evaluating the impact of this amendment on our financial position, results of operations and cash flows. In February 2016, the FASB issued an ASU that amends existing guidance for certain leases by lessees. This amendment will require us to recognize assets and liabilities on the balance sheet for the rights and obligations created by long-term leases and to disclose additional quantitative and qualitative information about leasing arrangements. In addition, this amendment clarifies the presentation requirements of the effects of leases in the statement of income and statement of cash flows. This amendment will be effective for us on January 1, 2019. Early adoption is permitted. This amendment is required to be adopted using a modified retrospective approach. We are currently evaluating the impact of this amendment on our financial position, results of operations and cash flows. In August of 2016, the FASB issued an ASU that provides guidance for cash flow classification for certain cash receipts and cash payments to address diversity in practice in how items are classified on the statement of cash flows as either operating, investing or financing activities. This amendment will be effective for us on January 1, 2018. Early adoption is permitted. This amendment is required to be adopted using a retrospective approach. We are currently evaluating the impact of this amendment on our statement of cash flows.

Rationalization Charges

Rationalization Charges	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Rationalization Charges	Rationalization Charges We continually evaluate cost reduction opportunities across each of our businesses, 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 business segment were as follows: Three Months Ended Nine Months Ended Sept. 30, 2016 Sept. 30, 2015 Sept. 30, 2016 Sept. 30, 2015 (Dollars in thousands) Metal containers $ 4,280 $ — $ 8,333 $ — Closures 64 205 482 1,351 Plastic containers 3,477 8,865 5,114 9,403 $ 7,821 $ 9,070 $ 13,929 $ 10,754 Activity in reserves for our rationalization plans for the nine months ended September 30 was as follows: Employee Severance and Benefits Non-Cash Retirement Benefits Plant Exit Costs Non-Cash Asset Write-Down Total (Dollars in thousands) Balance at December 31, 2015 $ 3,026 $ — $ 268 $ — $ 3,294 Charged to expense 2,754 3,080 3,906 4,189 13,929 Utilized and currency translation (4,418 ) (3,080 ) (1,474 ) (4,189 ) (13,161 ) Balance at September 30, 2016 $ 1,362 $ — $ 2,700 $ — $ 4,062 Non-cash asset write-downs were the result of comparing the carrying value of certain production related equipment to their fair value using estimated future discounted cash flows, a Level 3 fair value measurement (as defined in Note 6). Rationalization reserves were included in the Condensed Consolidated Balance Sheets as liabilities of $4.1 million , consisting of $2.4 million of accrued liabilities and $1.7 million of other liabilities. Remaining expenses for our rationalization plans of $1.8 million are expected within the next twelve months. Remaining cash expenditures for our rationalization plans of $6.8 million are expected through 2023.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2016
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 Defined Benefit Plan Costs Change in Fair Value of Derivatives Foreign Currency Translation Total (Dollars in thousands) Balance at December 31, 2015 $ (84,280 ) $ (988 ) $ (123,538 ) $ (208,806 ) Other comprehensive income before reclassifications 3,377 (271 ) 6,863 9,969 Amounts reclassified from accumulated other comprehensive loss 2,615 960 — 3,575 Other comprehensive income 5,992 689 6,863 13,544 Balance at September 30, 2016 $ (78,288 ) $ (299 ) $ (116,675 ) $ (195,262 ) 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, 2016 were net (losses) of $(1.4) million and $(4.1) million , respectively, excluding an income tax benefit of $0.6 million and $1.5 million , respectively. For the three and nine months ended September 30, 2016, these net (losses) consisted of $(2.1) million and $(6.0) million of amortization of net actuarial (losses) and $0.7 million and $1.9 million of amortization of net prior service credit, respectively. Amortization of net actuarial losses and net prior service credit is a component of net periodic benefit cost. See Note 8 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, 2016 were net (losses) of $(0.3) million and $(1.5) million , respectively, excluding an income tax benefit of $0.1 million and $0.5 million , respectively. For the three and nine months ended September 30, 2016, these net (losses) consisted of $(0.2) million and $(0.7) million , respectively, related to our interest rate swap agreements which were recorded in interest and other debt expense in our Condensed Consolidated Statements of Income and $(0.1) million and $(0.8) million , respectively, related to our natural gas swap agreements which were recorded in cost of goods sold in our Condensed Consolidated Statements of Income. See Note 6 for further information. Other comprehensive income before reclassifications related to foreign currency translation for the three and nine months ended September 30, 2016 included (i) foreign currency gains related to translation of quarter-end financial statements of foreign subsidiaries utilizing a functional currency other than the U.S. dollar of $4.8 million and $13.8 million , respectively, (ii) foreign currency (losses) related to intra-entity foreign currency transactions that are of a long-term investment nature of $(0.5) million and $(2.3) million , respectively, and (iii) foreign currency (losses) related to our net investment hedges of $(2.6) million and $(7.4) million , respectively, excluding an income tax benefit of $1.0 million and $2.8 million . See Note 6 for further discussion.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: Sept. 30, Sept 30, Dec. 31, (Dollars in thousands) Raw materials $ 213,020 $ 204,841 $ 215,018 Work-in-process 113,393 104,842 118,947 Finished goods 389,073 358,783 371,561 Other 13,931 14,831 13,938 729,417 683,297 719,464 Adjustment to value inventory at cost on the LIFO method (91,326 ) (103,021 ) (91,326 ) $ 638,091 $ 580,276 $ 628,138

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: Sept. 30, Sept. 30, Dec. 31, (Dollars in thousands) Bank debt Bank revolving loans $ 306,557 $ 357,044 $ — U.S. term loans 346,750 365,000 346,750 Canadian term loans 45,393 49,582 47,973 Euro term loans 234,853 246,576 227,434 Other foreign bank revolving and term loans 95,121 113,612 103,661 Total bank debt 1,028,674 1,131,814 725,818 5½% Senior Notes 300,000 300,000 300,000 5% Senior Notes 500,000 500,000 500,000 Total debt - principal 1,828,674 1,931,814 1,525,818 Less unamortized debt issuance costs 10,263 12,924 12,271 Total debt 1,818,411 1,918,890 1,513,547 Less current portion 454,212 482,877 152,398 $ 1,364,199 $ 1,436,013 $ 1,361,149 At September 30, 2016, amounts expected to be repaid within one year consisted of $367.8 million of bank revolving and term loans under our senior secured credit facility, or the Credit Agreement, and $86.4 million of foreign bank revolving and term loans.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2016
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, 2016: Carrying Amount Fair Value (Dollars in thousands) Assets: Cash and cash equivalents $ 93,561 $ 93,561 Liabilities: Bank debt $ 1,028,674 $ 1,028,674 5½% Senior Notes 300,000 311,250 5% Senior Notes 500,000 510,430 Interest rate swap agreements 459 459 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, 2016 consisted of our cash and cash equivalents, interest rate swap agreements and natural gas swap agreements. We measured the fair value of cash and cash equivalents using Level 1 inputs. We measured the fair value of the swap agreements using the income approach. The fair value of the swap agreements 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, 5½% Senior Notes due 2022, or the 5½% Notes, and 5% Senior Notes due 2020, or the 5% 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 5½% Notes and the 5% 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 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 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. We generally do not utilize external derivative financial instruments to manage our foreign currency exchange rate risk. Our interest rate and natural gas swap agreements are accounted for as cash flow hedges. During the first nine months of 2016, our hedges were fully effective. The fair value of our outstanding swap agreements in effect at September 30, 2016 was included in accrued liabilities in our Condensed Consolidated Balance Sheet. 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, 2016 were losses, net of income taxes, of $0.2 million and $1.0 million , respectively. We estimate that we will reclassify losses of $0.3 million , net of income taxes, from the change in fair value of derivatives component of accumulated other comprehensive loss to earnings during the next twelve months. The actual amount that will be reclassified to earnings will vary from this amount as a result of changes in market conditions. Interest Rate Swap Agreements We have entered into U.S. dollar interest rate swap agreements to manage a portion of our exposure to interest rate fluctuations. At September 30, 2016, the aggregate notional principal amount of our outstanding interest rate swap agreements was $100.0 million . 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. For the three and nine months ended September 30, 2016, net payments under our interest rate swap agreements were $0.2 million and $0.7 million , respectively. These agreements are with financial institutions which are expected to fully perform under the terms thereof. Natural Gas Swap Agreements We have entered into natural gas swap agreements with a major financial institution to manage a portion of our exposure to fluctuations in natural gas prices. At September 30, 2016, the aggregate notional principal amount of our natural gas swap agreements was 336,000 MMBtu of natural gas with fixed prices ranging from $2.97 to $3.21 per MMBtu, which hedged approximately 11 percent of our estimated twelve month 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. For the three and nine months ended September 30, 2016, net payments under our natural gas swap agreements were $0.1 million and $0.8 million , respectively. These agreements are with a financial institution which is expected to fully perform under the terms thereof. Foreign Currency Exchange Rate Risk In an effort to minimize foreign currency exchange rate risk, we have financed acquisitions of foreign operations primarily with loans borrowed under our senior secured credit facilities denominated in Euros and Canadian dollars. 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. We have designated substantially all of our Euro denominated borrowings under the Credit Agreement as net investment hedges. Foreign currency (losses) related to our net investment hedges included in accumulated other comprehensive loss for the three and nine months ended September 30, 2016 were $(2.6) million and $(7.4) million , respectively.

Commitments and Contingencies (

Commitments and Contingencies (Notes)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	Commitments and Contingencies A competition authority in Germany commenced an antitrust investigation involving the industry association for metal packaging in Germany and its members, including our metal container and closures subsidiaries in Germany. Given the early stage of the investigation, we cannot reasonably assess what actions may result from the investigation or estimate what costs we may incur as a result of the investigation. We are a party to other legal proceedings, contract disputes and claims arising in the ordinary course of our business, none of which are expected to have a material adverse effect on our business or financial condition.

Retirement Benefits

Retirement Benefits	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Retirement Benefits	Retirement Benefits The components of the net periodic pension benefit credit were as follows: Three Months Ended Nine Months Ended Sept. 30, 2016 Sept. 30, 2015 Sept. 30, 2016 Sept. 30, 2015 (Dollars in thousands) Service cost $ 2,950 $ 3,688 $ 9,584 $ 11,689 Interest cost 6,473 6,753 19,351 21,044 Expected return on plan assets (14,653 ) (15,692 ) (43,819 ) (47,045 ) Amortization of prior service cost 113 264 415 778 Amortization of actuarial losses 2,326 627 6,493 4,293 Special termination benefits — — 2,900 — Curtailment (gain) loss — (482 ) 180 (482 ) Net periodic benefit credit $ (2,791 ) $ (4,842 ) $ (4,896 ) $ (9,723 ) Special termination benefits and curtailment loss were included in rationalization charges for our metal container business segment for the nine months ended September 30, 2016. The components of the net periodic other postretirement benefit credit were as follows: Three Months Ended Nine Months Ended Sept. 30, 2016 Sept. 30, 2015 Sept. 30, 2016 Sept. 30, 2015 (Dollars in thousands) Service cost $ 52 $ 56 $ 188 $ 335 Interest cost 230 256 737 965 Amortization of prior service credit (816 ) (817 ) (2,516 ) (2,289 ) Amortization of actuarial gains (187 ) (133 ) (475 ) (260 ) Net periodic benefit credit $ (721 ) $ (638 ) $ (2,066 ) $ (1,249 )

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Silgan and its subsidiaries file U.S. Federal income tax returns, as well as income tax returns in various states and foreign jurisdictions. We have been accepted into the Compliance Assurance Program for the 2015 and 2016 tax years which provides for the review by the Internal Revenue Service of tax matters relating to our tax return prior to filing. We do not expect a material change to our unrecognized tax benefits within the next twelve months.

Treasury Stock

Treasury Stock	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Treasury Stock	Treasury Stock On February 28, 2014, our Board of Directors authorized the repurchase by us of up to an aggregate of $300.0 million of our common stock, inclusive of prior authorizations, from time to time through and including December 31, 2019. During the nine months ended September 30, 2016, we repurchased 147,465 shares of our common stock at an average price per share of $48.81 , for a total purchase price of $7.2 million. As a result, at September 30, 2016, we had approximately $98.8 million remaining under this authorization for the repurchase of our common stock. See Note 13 for additional information. During the first nine months of 2016, we issued 141,684 treasury shares which had an average cost of $6.30 per share for restricted stock units that vested during the period. In accordance with the Silgan Holdings Inc. Amended and Restated 2004 Stock Incentive Plan, we repurchased 47,472 shares of our common stock at an average cost of $51.27 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, 2016, 27,216,596 shares of our common stock were held in treasury.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation We currently have one stock-based compensation plan in effect, under which we have issued options and restricted stock units to our officers, other key employees and outside directors. During the first nine months of 2016, 199,148 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 $10.3 million , which is being amortized ratably over the respective vesting period from the grant date.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information Reportable business segment information for the three and nine months ended September 30 was as follows: Metal Closures Plastic Corporate Total (Dollars in thousands) Three Months Ended September 30, 2016 Net sales $ 797,370 $ 211,955 $ 130,318 $ — $ 1,139,643 Depreciation and amortization (1) 18,432 9,757 8,006 27 36,222 Rationalization charges 4,280 64 3,477 — 7,821 Segment income from operations 98,007 28,401 800 (4,801 ) 122,407 Three Months Ended September 30, 2015 Net sales $ 845,408 $ 215,713 $ 142,404 $ — $ 1,203,525 Depreciation and amortization (1) 17,746 9,399 8,531 30 35,706 Rationalization charges — 205 8,865 — 9,070 Segment income from operations 106,024 27,066 (7,293 ) (3,874 ) 121,923 Nine Months Ended September 30, 2016 Net sales $ 1,780,429 $ 614,558 $ 412,036 $ — $ 2,807,023 Depreciation and amortization (1) 54,379 28,873 23,847 82 107,181 Rationalization charges 8,333 482 5,114 — 13,929 Segment income from operations 181,496 78,220 1,868 (14,082 ) 247,502 Nine Months Ended September 30, 2015 Net sales $ 1,858,004 $ 620,949 $ 455,402 $ — $ 2,934,355 Depreciation and amortization (1) 52,400 28,302 25,881 93 106,676 Rationalization charges — 1,351 9,403 — 10,754 Segment income from operations 194,992 73,226 11,332 (12,273 ) 267,277 _____________ (1) Depreciation and amortization excludes amortization of debt issuance costs of $1.0 million in each of the three months ended September 30, 2016 and 2015 and $3.1 million in each of the nine months ended September 30, 2016 and 2015. Total segment income from operations is reconciled to income before income taxes as follows: Three Months Ended Nine Months Ended Sept. 30, 2016 Sept. 30, 2015 Sept. 30, 2016 Sept. 30, 2015 (Dollars in thousands) Total segment income from operations $ 122,407 $ 121,923 $ 247,502 $ 267,277 Interest and other debt expense 17,318 17,159 50,657 50,364 Income before income taxes $ 105,089 $ 104,764 $ 196,845 $ 216,913 Sales and income from operations of our metal container business and part of our closures business are dependent, in part, upon fruit and vegetable harvests. 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 income from operations during that quarter.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Share Repurchase Authorization On October 17, 2016, our Board of Directors authorized the repurchase by us of up to an additional $300 million of our issued and outstanding common stock by various means from time to time through and including December 31, 2021. This authorization is in addition to approximately $98.8 million that remains available to us for the repurchase of our common stock pursuant to a previous authorization in 2014. Accordingly, at October 17, 2016, we had approximately $398.8 million remaining pursuant to such authorizations for the repurchase of our common stock. Tender Offer On October 17, 2016, we commenced a "modified Dutch auction" tender offer, or the Tender Offer, to purchase up to 5,494,505 shares of our common stock at a price per share of not less than $45.50 and not greater than $52.25 , for an aggregate purchase price of up to $250.0 million . The Tender Offer will expire, unless extended by us, at 5:00 pm Eastern Time on November 15, 2016. We expect to fund the purchase of shares tendered in the Tender Offer from available cash on hand and revolving loan borrowings under the Credit Agreement.

Significant Accounting Polici21

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
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, 2015 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. Certain prior year's amounts have been reclassified to conform with the current year's presentation. 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, 2015.
Goodwill and Intangible Assets, Policy [Policy Text Block]	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 2016 assessment performed during the third quarter.
Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements. In July 2015, the Financial Accounting Standards Board, or FASB, issued an accounting standards update, or ASU, that amends existing guidance for measuring inventories. This amendment requires us to measure inventories recorded using the first-in, first-out method and the average cost method at the lower of cost and net realizable value. This amendment did not change the methodology for measuring inventories recorded using the last-in, first-out method. As permitted, we have adopted this amendment early, effective January 1, 2016, and have applied it prospectively. The adoption of this amendment did not have a material effect on our financial position, results of operations or cash flows. In March 2016, the FASB issued an ASU that amends the guidance for stock compensation accounting. This amendment (i) requires all income tax effects of stock-based compensation awards to be recognized in the statement of income when such awards vest or are settled, (ii) allows an employer to repurchase more of an employee's shares upon the vesting or settlement of an award than it could have previously for tax withholding purposes without triggering liability accounting, (iii) allows an employer to make a policy election to recognize forfeitures in respect of awards as they occur and (iv) specifies certain classifications on the statement of cash flows related to excess tax benefits and shares repurchased from employees for tax withholding purposes. As permitted, we have adopted this amendment early, effective January 1, 2016, and have applied it (i) prospectively as it related to recognizing income tax effects of awards in the statement of income, (ii) using the modified retrospective method as it related to classifying certain awards as equity rather than liabilities and recognizing forfeitures as they occur and (iii) using the retrospective method as it related to classifying excess tax benefits on the statement of cash flows. The adoption of this amendment did not have a material effect on our financial position, results of operations or cash flows. Recently Issued Accounting Pronouncements. In May 2014, the FASB issued an ASU that amends the guidance for revenue recognition. This amendment contains principles that will require an entity to recognize revenue to depict the transfer of goods and services to customers at an amount that an entity expects to be entitled to in exchange for those goods or services. This amendment permits the use of one of two retrospective transition methods. This amendment will be effective for us on January 1, 2018, with early adoption permitted up to one year prior to the effective date. We have not yet selected a transition method and are currently evaluating the impact of this amendment on our financial position, results of operations and cash flows. In February 2016, the FASB issued an ASU that amends existing guidance for certain leases by lessees. This amendment will require us to recognize assets and liabilities on the balance sheet for the rights and obligations created by long-term leases and to disclose additional quantitative and qualitative information about leasing arrangements. In addition, this amendment clarifies the presentation requirements of the effects of leases in the statement of income and statement of cash flows. This amendment will be effective for us on January 1, 2019. Early adoption is permitted. This amendment is required to be adopted using a modified retrospective approach. We are currently evaluating the impact of this amendment on our financial position, results of operations and cash flows. In August of 2016, the FASB issued an ASU that provides guidance for cash flow classification for certain cash receipts and cash payments to address diversity in practice in how items are classified on the statement of cash flows as either operating, investing or financing activities. This amendment will be effective for us on January 1, 2018. Early adoption is permitted. This amendment is required to be adopted using a retrospective approach. We are currently evaluating the impact of this amendment on our statement of cash flows.

Rationalization Charges (Tables

Rationalization Charges (Tables)	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Activity in Rationalization Plan Reserves	Rationalization charges by business segment were as follows: Three Months Ended Nine Months Ended Sept. 30, 2016 Sept. 30, 2015 Sept. 30, 2016 Sept. 30, 2015 (Dollars in thousands) Metal containers $ 4,280 $ — $ 8,333 $ — Closures 64 205 482 1,351 Plastic containers 3,477 8,865 5,114 9,403 $ 7,821 $ 9,070 $ 13,929 $ 10,754 Activity in reserves for our rationalization plans for the nine months ended September 30 was as follows: Employee Severance and Benefits Non-Cash Retirement Benefits Plant Exit Costs Non-Cash Asset Write-Down Total (Dollars in thousands) Balance at December 31, 2015 $ 3,026 $ — $ 268 $ — $ 3,294 Charged to expense 2,754 3,080 3,906 4,189 13,929 Utilized and currency translation (4,418 ) (3,080 ) (1,474 ) (4,189 ) (13,161 ) Balance at September 30, 2016 $ 1,362 $ — $ 2,700 $ — $ 4,062

Accumulated Other Comprehensi23

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2016
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 Defined Benefit Plan Costs Change in Fair Value of Derivatives Foreign Currency Translation Total (Dollars in thousands) Balance at December 31, 2015 $ (84,280 ) $ (988 ) $ (123,538 ) $ (208,806 ) Other comprehensive income before reclassifications 3,377 (271 ) 6,863 9,969 Amounts reclassified from accumulated other comprehensive loss 2,615 960 — 3,575 Other comprehensive income 5,992 689 6,863 13,544 Balance at September 30, 2016 $ (78,288 ) $ (299 ) $ (116,675 ) $ (195,262 )

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: Sept. 30, Sept 30, Dec. 31, (Dollars in thousands) Raw materials $ 213,020 $ 204,841 $ 215,018 Work-in-process 113,393 104,842 118,947 Finished goods 389,073 358,783 371,561 Other 13,931 14,831 13,938 729,417 683,297 719,464 Adjustment to value inventory at cost on the LIFO method (91,326 ) (103,021 ) (91,326 ) $ 638,091 $ 580,276 $ 628,138

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt consisted of the following: Sept. 30, Sept. 30, Dec. 31, (Dollars in thousands) Bank debt Bank revolving loans $ 306,557 $ 357,044 $ — U.S. term loans 346,750 365,000 346,750 Canadian term loans 45,393 49,582 47,973 Euro term loans 234,853 246,576 227,434 Other foreign bank revolving and term loans 95,121 113,612 103,661 Total bank debt 1,028,674 1,131,814 725,818 5½% Senior Notes 300,000 300,000 300,000 5% Senior Notes 500,000 500,000 500,000 Total debt - principal 1,828,674 1,931,814 1,525,818 Less unamortized debt issuance costs 10,263 12,924 12,271 Total debt 1,818,411 1,918,890 1,513,547 Less current portion 454,212 482,877 152,398 $ 1,364,199 $ 1,436,013 $ 1,361,149

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
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, 2016: Carrying Amount Fair Value (Dollars in thousands) Assets: Cash and cash equivalents $ 93,561 $ 93,561 Liabilities: Bank debt $ 1,028,674 $ 1,028,674 5½% Senior Notes 300,000 311,250 5% Senior Notes 500,000 510,430 Interest rate swap agreements 459 459

Retirement Benefits (Tables)

Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Benefit Cost	The components of the net periodic pension benefit credit were as follows: Three Months Ended Nine Months Ended Sept. 30, 2016 Sept. 30, 2015 Sept. 30, 2016 Sept. 30, 2015 (Dollars in thousands) Service cost $ 2,950 $ 3,688 $ 9,584 $ 11,689 Interest cost 6,473 6,753 19,351 21,044 Expected return on plan assets (14,653 ) (15,692 ) (43,819 ) (47,045 ) Amortization of prior service cost 113 264 415 778 Amortization of actuarial losses 2,326 627 6,493 4,293 Special termination benefits — — 2,900 — Curtailment (gain) loss — (482 ) 180 (482 ) Net periodic benefit credit $ (2,791 ) $ (4,842 ) $ (4,896 ) $ (9,723 ) Special termination benefits and curtailment loss were included in rationalization charges for our metal container business segment for the nine months ended September 30, 2016. The components of the net periodic other postretirement benefit credit were as follows: Three Months Ended Nine Months Ended Sept. 30, 2016 Sept. 30, 2015 Sept. 30, 2016 Sept. 30, 2015 (Dollars in thousands) Service cost $ 52 $ 56 $ 188 $ 335 Interest cost 230 256 737 965 Amortization of prior service credit (816 ) (817 ) (2,516 ) (2,289 ) Amortization of actuarial gains (187 ) (133 ) (475 ) (260 ) Net periodic benefit credit $ (721 ) $ (638 ) $ (2,066 ) $ (1,249 )

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Reportable Business Segment Information	Reportable business segment information for the three and nine months ended September 30 was as follows: Metal Closures Plastic Corporate Total (Dollars in thousands) Three Months Ended September 30, 2016 Net sales $ 797,370 $ 211,955 $ 130,318 $ — $ 1,139,643 Depreciation and amortization (1) 18,432 9,757 8,006 27 36,222 Rationalization charges 4,280 64 3,477 — 7,821 Segment income from operations 98,007 28,401 800 (4,801 ) 122,407 Three Months Ended September 30, 2015 Net sales $ 845,408 $ 215,713 $ 142,404 $ — $ 1,203,525 Depreciation and amortization (1) 17,746 9,399 8,531 30 35,706 Rationalization charges — 205 8,865 — 9,070 Segment income from operations 106,024 27,066 (7,293 ) (3,874 ) 121,923 Nine Months Ended September 30, 2016 Net sales $ 1,780,429 $ 614,558 $ 412,036 $ — $ 2,807,023 Depreciation and amortization (1) 54,379 28,873 23,847 82 107,181 Rationalization charges 8,333 482 5,114 — 13,929 Segment income from operations 181,496 78,220 1,868 (14,082 ) 247,502 Nine Months Ended September 30, 2015 Net sales $ 1,858,004 $ 620,949 $ 455,402 $ — $ 2,934,355 Depreciation and amortization (1) 52,400 28,302 25,881 93 106,676 Rationalization charges — 1,351 9,403 — 10,754 Segment income from operations 194,992 73,226 11,332 (12,273 ) 267,277 _____________ (1) Depreciation and amortization excludes amortization of debt issuance costs of $1.0 million in each of the three months ended September 30, 2016 and 2015 and $3.1 million in each of the nine months ended September 30, 2016 and 2015.
Reconciliation of Segment Income from Operations to Income before Income Taxes	Total segment income from operations is reconciled to income before income taxes as follows: Three Months Ended Nine Months Ended Sept. 30, 2016 Sept. 30, 2015 Sept. 30, 2016 Sept. 30, 2015 (Dollars in thousands) Total segment income from operations $ 122,407 $ 121,923 $ 247,502 $ 267,277 Interest and other debt expense 17,318 17,159 50,657 50,364 Income before income taxes $ 105,089 $ 104,764 $ 196,845 $ 216,913

Rationalization Charges Activit

Rationalization Charges Activity in Rationalization Plan Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restructuring Reserve [Roll Forward]
Balance at December 31, 2015			$ 3,294
Charged to expense	$ 7,821	$ 9,070	13,929	$ 10,754
Utilized and currency translation			(13,161)
Balance at September 30, 2016	4,062		4,062
Employee Severance and Benefits [Member]
Restructuring Reserve [Roll Forward]
Balance at December 31, 2015			3,026
Charged to expense			2,754
Utilized and currency translation			(4,418)
Balance at September 30, 2016	1,362		1,362
Non-Cash Retirement Benefit Curtailment
Restructuring Reserve [Roll Forward]
Balance at December 31, 2015			0
Charged to expense			3,080
Utilized and currency translation			(3,080)
Balance at September 30, 2016	0		0
Plant Exit Costs [Member]
Restructuring Reserve [Roll Forward]
Balance at December 31, 2015			268
Charged to expense			3,906
Utilized and currency translation			(1,474)
Balance at September 30, 2016	2,700		2,700
Non-Cash Asset Write-Down [Member]
Restructuring Reserve [Roll Forward]
Charged to expense			4,189
Utilized and currency translation			(4,189)
Metal Containers [Member]
Restructuring Reserve [Roll Forward]
Charged to expense	4,280	0	8,333	0
Closures [Member]
Restructuring Reserve [Roll Forward]
Charged to expense	64	205	482	1,351
Plastic Containers [Member]
Restructuring Reserve [Roll Forward]
Charged to expense	$ 3,477	$ 8,865	$ 5,114	$ 9,403

Rationalization Charges Activ30

Rationalization Charges Activity in Rationalization Plan Reserves (Details II) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 4,062	$ 3,294
Remaining expenses for our rationalization plans expected within the next twelve months	1,800
Remaining cash expenditures for our rationalization plans expected through 2023	6,800
Liability [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	4,100
Accrued Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	2,400
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 1,700

Amounts Included in Accumulated

Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2015			$ (208,806)
Other comprehensive income before reclassifications			9,969
Amounts reclassified from accumulated other comprehensive loss			3,575
Other comprehensive income (loss)	$ 7,034	$ (14,099)	13,544	$ (31,254)
Balance at September 30, 2016	(195,262)	$ (196,878)	(195,262)	$ (196,878)
Unrecognized Net Defined Benefit Plan Costs [Member]
Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2015			(84,280)
Other comprehensive income before reclassifications			3,377
Amounts reclassified from accumulated other comprehensive loss			2,615
Other comprehensive income (loss)			5,992
Balance at September 30, 2016	(78,288)		(78,288)
Change in Fair Value of Derivatives [Member]
Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2015			(988)
Other comprehensive income before reclassifications			(271)
Amounts reclassified from accumulated other comprehensive loss			960
Other comprehensive income (loss)			689
Balance at September 30, 2016	(299)		(299)
Foreign Currency Translation [Member]
Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2015			(123,538)
Other comprehensive income before reclassifications			6,863
Amounts reclassified from accumulated other comprehensive loss			0
Other comprehensive income (loss)			6,863
Balance at September 30, 2016	$ (116,675)		$ (116,675)

Accumulated Other Comprehensi32

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss) Foreign Currency Translation adjustment, net of tax	$ 2,625	$ (13,834)	$ 6,863	$ (32,779)
Unrecognized Net Defined Benefit Plan Costs [Member]
Accumulated Other Comprehensive Income [Line Items]
Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax	(1,400)		(4,100)
Benefit for Income Taxes	600		1,500
Net Prior Service Credit Arising During the Period, Before Tax	700		1,900
Amortization of Net Actuarial (Losses), Before Tax	(2,100)		(6,000)
Change in Fair Value of Derivatives [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(300)		(1,500)
Benefit for Income Taxes	100		500
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss) Foreign Currency Translation adjustment, net of tax	4,800		13,800
Foreign Currency Transaction and Translation (Loss) Related to Net Investment Hedges, Before Reclassification and Tax	(2,600)		(7,400)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation (Loss) Arising During Period Related to Intra-Entity Transactions of a Long-Term Investment Nature, Net of Tax	(500)		(2,300)
Benefit for Income Taxes	1,000		2,800
Cost of Goods, Total [Member] | Natural Gas [Member] | Change in Fair Value of Derivatives [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(100)		(800)
Interest Expense [Member] | Interest Rate Contract [Member] | Change in Fair Value of Derivatives [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	$ (200)		$ (700)

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 213,020	$ 215,018	$ 204,841
Work-in-process	113,393	118,947	104,842
Finished goods	389,073	371,561	358,783
Other	13,931	13,938	14,831
Inventory, Gross, Total	729,417	719,464	683,297
Adjustment to value inventory at cost on the LIFO method	(91,326)	(91,326)	(103,021)
Inventories	$ 638,091	$ 628,138	$ 580,276

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Debt Instrument [Line Items]
Total debt - principal	$ 1,828,674	$ 1,525,818	$ 1,931,814
Less unamortized debt issuance costs	10,263	12,271	12,924
Debt Long Term and Short Term Less Unamortized Debt Issuance Expense Combined Amount	1,818,411	1,513,547	1,918,890
Current portion	454,212	152,398	482,877
Long-term debt	1,364,199	1,361,149	1,436,013
Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	1,028,674	725,818	1,131,814
5 1/2% Senior Notes [Member]
Debt Instrument [Line Items]
Total debt - principal	300,000	300,000	300,000
5% Senior Notes [Member]
Debt Instrument [Line Items]
Total debt - principal	500,000	500,000	500,000
Revolving Loan [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	$ 306,557	$ 0	$ 357,044
Senior Notes [Member] | 5 1/2% Senior Notes [Member]
Debt Instrument [Line Items]
Senior note interest rate (percent)	5.50%	5.50%	5.50%
Senior Notes [Member] | 5% Senior Notes [Member]
Debt Instrument [Line Items]
Senior note interest rate (percent)	5.00%	5.00%	5.00%
Bank revolving loans and term loans [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Current portion	$ 367,800
U S Term Loans [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	346,750	$ 346,750	$ 365,000
Canadian Term Loans [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	45,393	47,973	49,582
Euro Term Loans [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	234,853	227,434	246,576
Other Foreign Bank Revolving And Term Loans [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	95,121	$ 103,661	$ 113,612
Current portion	$ 86,400

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)MMBTU$ / MMBTU	Sep. 30, 2016USD ($)MMBTU$ / MMBTU
Derivative [Line Items]
Amount of losses, net of income taxes, reclassified to earnings from change in fair value of derivatives component of accumulated other comprehensive loss	$ 200	$ 1,000
Estimated reclassification of losses, net of income taxes, from the change in fair value of derivatives component of accumulated other comprehensive loss to earnings during the next twelve months	300
Interest Rate Swap [Member]
Derivative [Line Items]
Aggregate notional principal amount of outstanding interest rate swap agreements	100,000	100,000
Net payments under derivative swap agreements	200	700
Natural Gas [Member]
Derivative [Line Items]
Net payments under derivative swap agreements	$ 100	$ 800
Principal amount of natural gas swap agreements (mmbtu) | MMBTU	336,000	336,000
Hedged portion of estimated twelve month exposure to natural gas price fluctuations (percent)	11.00%	11.00%
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Cash and cash equivalents	$ 93,561	$ 93,561
Carrying (Reported) Amount, Fair Value Disclosure [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Long-Term Debt	459	459
Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Cash and cash equivalents	93,561	93,561
Estimate of Fair Value, Fair Value Disclosure [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Long-Term Debt	459	459
Bank debt [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	1,028,674	1,028,674
Bank debt [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	1,028,674	1,028,674
5 1/2% Senior Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	300,000	300,000
5 1/2% Senior Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	311,250	311,250
5% Senior Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	500,000	500,000
5% Senior Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	$ 510,430	$ 510,430
Minimum [Member] | Natural Gas [Member]
Derivative [Line Items]
Natural gas fixed price | $ / MMBTU	2.97	2.97
Maximum [Member] | Natural Gas [Member]
Derivative [Line Items]
Natural gas fixed price | $ / MMBTU	3.21	3.21
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Derivative [Line Items]
Foreign currency (losses) of net investment hedges included in accumulated other comprehensive loss	$ (2,600)	$ (7,400)

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Pension Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,950	$ 3,688	$ 9,584	$ 11,689
Interest cost	6,473	6,753	19,351	21,044
Expected return on plan assets	(14,653)	(15,692)	(43,819)	(47,045)
Amortization of prior service cost (credit)	113	264	415	778
Amortization of actuarial losses (gains)	2,326	627	6,493	4,293
Special termination benefits	0	0	2,900	0
Curtailment (gain) loss	0	(482)	180	(482)
Net periodic benefit credit	(2,791)	(4,842)	(4,896)	(9,723)
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	52	56	188	335
Interest cost	230	256	737	965
Amortization of prior service cost (credit)	(816)	(817)	(2,516)	(2,289)
Amortization of actuarial losses (gains)	(187)	(133)	(475)	(260)
Net periodic benefit credit	$ (721)	$ (638)	$ (2,066)	$ (1,249)

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Feb. 28, 2014
Equity, Class of Treasury Stock [Line Items]
Remaining authorized repurchase amount	$ 98,800
Payments for Repurchase of Common Stock	$ 7,200	$ 170,132
Treasury stock (shares)	27,216,596
Stock Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount			$ 300,000
Treasury Stock, Shares, Acquired	147,465
Remaining authorized repurchase amount	$ 98,800
Average cost per share of treasury stock acquired	$ 48.81
Payments for Repurchase of Common Stock	$ 7,200
2004 Amended and Restated Stock Incentive Plan
Equity, Class of Treasury Stock [Line Items]
Treasury shares issued (shares)	141,684
Issuance of treasury shares, average cost per share (usd per share)	$ 6.30
Shares repurchased to satisfy minumum employee withholding tax requirements resulting from the vesting of such restricted stock units (shares)	47,472
Average cost per share of treasury stock acquired	$ 51.27

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - Restricted stock units [Member] $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (shares) | shares	199,148
Fair value of restricted stock units granted | $	$ 10.3

Reportable Business Segment Inf

Reportable Business Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Net sales		$ 1,139,643	$ 1,203,525	$ 2,807,023	$ 2,934,355
Depreciation and amortization	[1]	36,222	35,706	107,181	106,676
Rationalization charges		7,821	9,070	13,929	10,754
Segment income from operations		122,407	121,923	247,502	267,277
Amortization of debt issuance costs excluded from depreciation and amortization		1,000	1,000	3,100	3,100
Metal Containers [Member]
Segment Reporting Information [Line Items]
Net sales		797,370	845,408	1,780,429	1,858,004
Depreciation and amortization		18,432	17,746	54,379	52,400
Rationalization charges		4,280	0	8,333	0
Segment income from operations		98,007	106,024	181,496	194,992
Closures [Member]
Segment Reporting Information [Line Items]
Net sales		211,955	215,713	614,558	620,949
Depreciation and amortization		9,757	9,399	28,873	28,302
Rationalization charges		64	205	482	1,351
Segment income from operations		28,401	27,066	78,220	73,226
Plastic Containers [Member]
Segment Reporting Information [Line Items]
Net sales		130,318	142,404	412,036	455,402
Depreciation and amortization		8,006	8,531	23,847	25,881
Rationalization charges		3,477	8,865	5,114	9,403
Segment income from operations		800	(7,293)	1,868	11,332
Corporate [Member]
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Depreciation and amortization		27	30	82	93
Rationalization charges		0	0	0	0
Segment income from operations		$ (4,801)	$ (3,874)	$ (14,082)	$ (12,273)
[1]	Depreciation and amortization excludes amortization of debt issuance costs of $1.0 million in each of the three months ended September 30, 2016 and 2015 and $3.1 million in each of the nine months ended September 30, 2016 and 2015.

Reconciliation of Segment Incom

Reconciliation of Segment Income from Operations to Income before Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting [Abstract]
Total segment income from operations	$ 122,407	$ 121,923	$ 247,502	$ 267,277
Interest and other debt expense	17,318	17,159	50,657	50,364
Income before income taxes	$ 105,089	$ 104,764	$ 196,845	$ 216,913

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Oct. 17, 2016	Sep. 30, 2016
Subsequent Event [Line Items]
Remaining authorized repurchase amount		$ 98,800,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock repurchase program, additional authorized amount	$ 300,000,000
Remaining authorized repurchase amount	$ 398,800,000
Modified Dutch Auction Maximum Shares	5,494,505
Modified Dutch Auction Minimum Share Price	$ 45.50
Modified Dutch Auction Maximum Share Price	$ 52.25
Modified Dutch Auction Maximum Amount (in dollars)	$ 250,000,000