Silgan (SLGN) 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document Documentand Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
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		110,599,464

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 174,540	$ 53,533	$ 350,621
Trade accounts receivable, net	578,584	454,637	331,668
Inventories	743,286	721,290	712,854
Prepaid expenses and other current assets	72,127	62,462	48,356
Total current assets	1,568,537	1,291,922	1,443,499
Property, plant and equipment, net	1,502,880	1,489,872	1,166,609
Goodwill	1,183,678	1,171,454	607,004
Other intangible assets, net	413,240	417,088	177,907
Other assets, net	284,152	275,113	254,987
Assets, Total	4,952,487	4,645,449	3,650,006
Current liabilities:
Revolving loans and current portion of long-term debt	758,652	108,789	580,247
Trade accounts payable	552,707	659,629	390,288
Accrued payroll and related costs	66,764	66,257	42,943
Accrued liabilities	81,173	123,602	79,514
Total current liabilities	1,459,296	958,277	1,092,992
Long-term debt	2,174,709	2,438,502	1,591,764
Deferred income taxes	268,023	262,394	298,410
Other liabilities	225,668	220,211	176,514
Stockholders’ equity:
Common stock	1,751	1,751	876
Paid-in capital	265,022	262,201	252,128
Retained earnings	1,853,351	1,809,845	1,571,711
Accumulated other comprehensive loss	(174,707)	(188,973)	(216,110)
Treasury stock	(1,120,626)	(1,118,759)	(1,118,279)
Total stockholders’ equity	824,791	766,065	490,326
Liabilities and Equity, Total	$ 4,952,487	$ 4,645,449	$ 3,650,006

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net sales	$ 1,012,280	$ 805,407
Cost of goods sold	852,246	687,427
Gross profit	160,034	117,980
Selling, general and administrative expenses	76,747	68,659
Rationalization charges	703	885
Other pension and postretirement income	(9,598)	(8,326)
Income before interest and income taxes	92,182	56,762
Interest and other debt expense before loss on early extinguishment of debt	30,481	20,418
Loss on early extinguishment of debt	0	2,677
Interest and other debt expense	30,481	23,095
Income before income taxes	61,701	33,667
Provision for income taxes	15,980	10,435
Net income	$ 45,721	$ 23,232
Earnings per share
Basic net income per share (usd per share)	$ 0.41	$ 0.21	[1]
Diluted net income per share (usd per share)	0.41	0.21	[1]
Dividends per share (usd per share)	$ 0.10	$ 0.09	[1]
Weighted average number of shares
Basic (in shares)	110,492	110,231	[1]
Effect of dilutive securities (in shares)	1,066	984	[1]
Diluted (in shares)	111,558	111,215	[1]
[1]	Per share and share amounts for 2017 have been retroactively adjusted for the two-for-one stock split discussed in Note 1.

Condensed Consolidated Stateme4

Condensed Consolidated Statements Of Income (Parenthetical)	3 Months Ended
	Mar. 31, 2017
Income Statement [Abstract]
Stock split ratio (in shares)	2

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 45,721	$ 23,232
Other comprehensive income, net of tax:
Changes in net prior service credit and actuarial losses	856	629
Change in fair value of derivatives	(390)	(340)
Foreign currency translation	13,800	7,457
Other comprehensive income	14,266	7,746
Comprehensive income	$ 59,987	$ 30,978

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows provided by (used in) operating activities:
Net income	$ 45,721	$ 23,232
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	48,931	37,572
Rationalization charges	703	885
Stock compensation expense	3,700	3,279
Loss on early extinguishment of debt	0	2,677
Other changes that provided (used) cash:
Trade accounts receivable, net	(49,615)	(41,452)
Inventories	(74,451)	(107,446)
Trade accounts payable	(16,077)	(36,806)
Accrued liabilities	(41,215)	(17,583)
Other, net	(7,816)	(5,287)
Net cash used in operating activities	(90,119)	(140,929)
Cash flows provided by (used in) investing activities:
Capital expenditures	(49,196)	(38,893)
Other, net	800	386
Net cash used in investing activities	(48,396)	(38,507)
Cash flows provided by (used in) financing activities:
Borrowings under revolving loans	444,595	655,633
Repayments under revolving loans	(79,821)	(508,865)
Proceeds from issuance of long-term debt	0	989,200
Repayments of long-term debt	(4,638)	(521,666)
Changes in outstanding checks - principally vendors	(87,795)	(78,946)
Dividends paid on common stock	(11,333)	(10,115)
Debt issuance costs	0	(16,643)
Repurchase of common stock under stock plan	(2,746)	(3,231)
Net cash provided by financing activities	258,262	505,367
Effect of exchange rate changes on cash and cash equivalents	1,260	0
Cash and cash equivalents:
Net increase	121,007	325,931
Balance at beginning of year	53,533	24,690
Balance at end of period	174,540	350,621
Interest paid, net	39,953	12,234
Income taxes paid, net	$ 21,835	$ 8,065

Condensed Consolidated Stateme7

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, 2016	$ 469,415	$ 876	$ 249,763	$ 1,558,594	$ (223,856)	$ (1,115,962)
Beginning Balance (in shares) at Dec. 31, 2016		55,051
Increase (Decrease) in Stockholders' Equity
Net income	23,232			23,232
Other comprehensive income	7,746				7,746
Dividends declared on common stock	(10,115)			(10,115)
Stock compensation expense	3,279		3,279
Net issuance of treasury stock for vested restricted stock units (in shares)		91
Net issuance of treasury stock for vested restricted stock units	(3,231)		(914)			(2,317)
Ending Balance at Mar. 31, 2017	490,326	$ 876	252,128	1,571,711	(216,110)	(1,118,279)
Ending Balance (in shares) at Mar. 31, 2017		55,142
Beginning Balance at Dec. 31, 2017	766,065	$ 1,751	262,201	1,809,845	(188,973)	(1,118,759)
Beginning Balance (in shares) at Dec. 31, 2017		110,385
Increase (Decrease) in Stockholders' Equity
Adoption of accounting standards update for revenue recognition	9,061			9,061
Net income	45,721			45,721
Other comprehensive income	14,266				14,266
Dividends declared on common stock	(11,276)			(11,276)
Stock compensation expense	3,700		3,700
Net issuance of treasury stock for vested restricted stock units (in shares)		184
Net issuance of treasury stock for vested restricted stock units	(2,746)		(879)			(1,867)
Ending Balance at Mar. 31, 2018	$ 824,791	$ 1,751	$ 265,022	$ 1,853,351	$ (174,707)	$ (1,120,626)
Ending Balance (in shares) at Mar. 31, 2018		110,569

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
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, 2017 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. Deferred income taxes as of March 31, 2017 previously included in other liabilities have been presented as a separate line item on the Condensed Consolidated Balance Sheet to conform to current period 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, 2017. Stock Split . On May 3, 2017, our Board of Directors declared a two -for-one stock split of our issued common stock. The stock split was effected on May 26, 2017 in the form of a stock dividend. Stockholders of record at the close of business on May 15, 2017 were issued one additional share of common stock for each share of common stock owned on that date. Information pertaining to per share and share amounts have been retroactively adjusted in the Condensed Consolidated Statement of Income for the three months ended March 31, 2017. Recently Adopted Accounting Pronouncements. In May 2014, the Financial Accounting Standards Board, or FASB, issued an accounting standards update, or ASU, that amends the guidance for revenue recognition. This amendment contains principles that require an entity to recognize revenue to depict the transfer of promised goods and services to customers at an amount that an entity expects to be entitled to in exchange for those promised goods or services. We adopted this amendment on January 1, 2018, using the modified retrospective method. Results for the reporting period beginning January 1, 2018 are presented under the new guidance, while prior period amounts are not adjusted. The adoption of this amendment required us to accelerate the recognition of revenue prior to shipment to certain customers in cases where we produce promised goods with no alternative use to us and for which we have an enforceable right of payment for production completed. As a result of the adoption of this amendment, we increased trade accounts receivable, net by $69.4 million , decreased inventories by $56.6 million , increased accrued liabilities by $0.9 million and increased long-term deferred income tax liabilities by $2.8 million , resulting in a net increase to retained earnings of $9.1 million , all as of January 1, 2018. The adoption of this amendment did not have a material impact on our financial position, results of operations or cash flows. See Note 2 for further information. In August 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 the manner in which items are classified on the statement of cash flows as either operating, investing or financing activities. We have adopted this amendment as of January 1, 2018 using the retrospective approach. The adoption of this amendment did not have a material impact on our statement of cash flows. In March 2017, the FASB issued an ASU that amends the presentation of net periodic pension cost and net periodic postretirement benefit cost. This amendment requires an entity to disaggregate the service cost component from the other components of net periodic benefit cost, to report the service cost component in the same line item as other compensation costs and to report the other components of net periodic benefit cost (which include interest cost, expected return on plan assets, amortization of prior service cost or credit and actuarial gains and losses) separately. In addition, capitalization of net periodic benefit cost in assets is limited to the service cost component. We have adopted this amendment as of January 1, 2018. As a result of separately reporting the other components of net periodic benefit cost, we retrospectively increased cost of goods sold by $6.6 million , increased selling, general and administrative expenses by $1.7 million and reported other pension and postretirement income of $8.3 million in our Condensed Consolidated Statement of Income for the three months ended March 31, 2017 based on amounts previously included in net periodic benefit costs for retirement benefits as disclosed in Note 10. The adoption of this amendment did not have a material impact on our financial position, results of operations or cash flows. Recently Issued Accounting Pronouncements. In February 2016, the FASB issued an ASU that amends existing guidance for certain leases by lessees. This amendment will require an entity 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.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Revenue	Revenue Our revenues are primarily derived from the sale of rigid packaging products to customers. We recognize revenue at the amount we expect to be entitled to in exchange for promised goods for which we have transferred control to customers. If the consideration agreed to in a contract includes a variable amount, we estimate the amount of consideration we expect to be entitled to in exchange for transferring the promised goods to the customer. Generally, revenue is recognized at a point in time for standard promised goods at the time of shipment when title and risk of loss pass to the customer, and revenue is recognized over time in cases where we produce promised goods with no alternative use to us and for which we have an enforceable right of payment for production completed. The production cycle for customer contracts subject to over time recognition is generally completed in less than one month. We have elected to treat shipping and handling costs after the control of goods have been transferred to the customer as a fulfillment cost. Sales and similar taxes that are imposed on our sales and collected from customers are excluded from revenues. The following tables present our revenues disaggregated by reportable business 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 business segment for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) Metal containers $ 485,954 $ 466,236 Closures 370,345 197,682 Plastics 155,981 141,489 $ 1,012,280 $ 805,407 Revenues by geography for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) North America $ 779,790 $ 674,839 Europe and other 232,490 130,568 $ 1,012,280 $ 805,407 Our contracts generally include standard commercial payment terms generally acceptable in each region. We do not provide financing with extended payment terms beyond generally standard commercial payment terms for the applicable industry. We have no significant obligations for refunds, warranties or similar obligations. Trade accounts receivable, net are shown separately on our Condensed Consolidated Balance Sheet. Contract assets are the result of the timing of revenue recognition, billings and cash collections. Our contract assets primarily consist of unbilled accounts receivable related to over time revenue recognition and were $73.6 million as of March 31, 2018. Unbilled receivables are included in trade accounts receivable, net on our Condensed Consolidated Balance Sheet. Had we not adopted the amended guidance for revenue recognition on January 1, 2018, our trade accounts receivable, net would have been $505.0 million and our inventories would have been $804.1 million as of March 31, 2018.

Acquisition (Notes)

Acquisition (Notes)	3 Months Ended
	Mar. 31, 2018
Acquisition [Abstract]
Business Combination Disclosure [Text Block]	Acquisition On April 6, 2017, we acquired the specialty closures and dispensing systems operations of WestRock Company, now operating under the name Silgan Dispensing Systems, or SDS. During the three months ended March 31, 2018, we finalized our purchase price allocation. There were no material changes to the previously recorded fair values of assets acquired and liabilities assumed.

Rationalization Charges

Rationalization Charges	3 Months Ended
	Mar. 31, 2018
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 for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) Metal containers $ 482 $ 722 Closures 39 53 Plastic containers 182 110 $ 703 $ 885 Activity in reserves for our rationalization plans for the three months ended March 31 was as follows: Employee Severance and Benefits Plant Exit Costs Non-Cash Asset Write-Down Total (Dollars in thousands) Balance at December 31, 2017 $ 22 $ 2,397 $ — $ 2,419 Charged to expense 377 65 261 703 Utilized and currency translation (342 ) (521 ) (261 ) (1,124 ) Balance at March 31, 2018 $ 57 $ 1,941 $ — $ 1,998 Rationalization reserves as of March 31, 2018 were recorded in our Consolidated Balance Sheets as accrued liabilities and other liabilities of $0.9 million and $1.1 million , respectively. Remaining expenses for our rationalization plans of $1.4 million are expected primarily within the next twelve months. Remaining cash expenditures for our rationalization plans of $3.4 million are expected through 2023.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2018
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, 2017 $ (104,822 ) $ (89 ) $ (84,062 ) $ (188,973 ) Other comprehensive income before reclassifications — (366 ) 13,800 13,434 Amounts reclassified from accumulated other comprehensive loss 856 (24 ) — 832 Other comprehensive income 856 (390 ) 13,800 14,266 Balance at March 31, 2018 $ (103,966 ) $ (479 ) $ (70,262 ) $ (174,707 ) The amounts reclassified to earnings from the unrecognized net defined benefit plan costs component of accumulated other comprehensive loss for the three months ended March 31, 2018 were net (losses) of $(1.1) million , excluding an income tax benefit of $0.2 million . These net (losses) consisted of amortization of net actuarial (losses) of $(1.7) million and amortization of net prior service credit of $0.6 million . Amortization of net actuarial losses and net prior service credit 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 months ended March 31, 2018 were not significant. Other comprehensive income before reclassifications related to foreign currency translation for the three months ended March 31, 2018 consisted of (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 $20.5 million , (ii) foreign currency gains related to intra-entity foreign currency transactions that are of a long-term investment nature of $0.6 million and (iii) foreign currency (losses) related to our net investment hedges of $(9.6) million , excluding an income tax benefit of $2.3 million . See Note 8 for further discussion.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: March 31, 2018 March 31, 2017 Dec. 31, 2017 (Dollars in thousands) Raw materials $ 230,847 $ 187,897 $ 233,410 Work-in-process 133,271 125,941 124,396 Finished goods 449,133 452,931 433,937 Other 12,858 14,504 12,370 826,109 781,273 804,113 Adjustment to value inventory at cost on the LIFO method (82,823 ) (68,419 ) (82,823 ) $ 743,286 $ 712,854 $ 721,290

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consisted of the following: March 31, 2018 March 31, 2017 Dec. 31, 2017 (Dollars in thousands) Bank debt Bank revolving loans $ 415,000 $ 319,510 $ — U.S. term loans 800,000 — 800,000 Canadian term loans 23,362 34,166 27,147 Other foreign bank revolving and term loans 30,135 46,507 76,798 Total bank debt 1,268,497 400,183 903,945 5% Senior Notes 280,000 500,000 280,000 5½% Senior Notes 300,000 300,000 300,000 4¾% Senior Notes 300,000 300,000 300,000 3¼% Senior Notes 801,060 692,380 780,325 Total debt - principal 2,949,557 2,192,563 2,564,270 Less unamortized debt issuance costs 16,196 20,552 16,979 Total debt 2,933,361 2,172,011 2,547,291 Less current portion 758,652 580,247 108,789 $ 2,174,709 $ 1,591,764 $ 2,438,502 At March 31, 2018, the current portion of long-term debt consisted of $415.0 million of bank revolving loans under our amended and restated senior secured credit facility, or the Credit Agreement, $40.0 million of term loans under the Credit Agreement, $23.7 million of foreign bank revolving and term loans and $280.0 million of our 5% Senior Notes due 2020, or the 5% Notes, which were redeemed on April 16, 2018. See Note 15 for more information on such redemption.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018: Carrying Amount Fair Value (Dollars in thousands) Assets: Cash and cash equivalents $ 174,540 $ 174,540 Liabilities: Bank debt $ 1,268,497 $ 1,268,497 5% Senior Notes 280,000 280,162 5½% Senior Notes 300,000 306,195 4¾% Senior Notes 300,000 291,585 3¼% Senior Notes 801,060 817,105 Derivative instruments (accrued and other liabilities) 626 626 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 March 31, 2018 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, 5% Notes, 5½% Senior Notes, 4¾% Senior Notes and 3¼% Senior 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 5% Notes, 5½% Senior Notes, 4¾% Senior Notes and 3¼% Senior 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 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. Interest Rate Swap Agreements We have entered into two U.S. dollar interest rate swap agreements, each for $50.0 million notional principal amount, to manage a portion of our exposure to interest rate fluctuations. These agreements have a fixed rate of 2.878 percent , become effective on March 29, 2019 and mature on March 24, 2023. The difference between amounts to be paid or received on our interest rate swap agreements will be recorded in interest and other debt expense in our Condensed Consolidated Statements of Income. These agreements are with financial institutions which are expected to fully perform under the terms thereof. The total fair value of our interest rate swap agreements in effect at March 31, 2018 was not significant. 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. 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 quarter ended March 31, 2018. These agreements are with financial institutions which are expected to fully perform under the terms thereof. The total fair value of our natural gas swap agreements in effect at March 31, 2018 was not significant. Foreign Currency Exchange Rate Risk In an effort to minimize foreign currency exchange rate risk, we have financed acquisitions of foreign operations primarily with borrowings 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 the 3¼% Senior Notes, which are Euro denominated, as net investment hedges. Foreign currency (losses) related to our net investment hedges included in accumulated other comprehensive loss for the three months ended March 31, 2018 were $(9.6) million .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies A competition authority in Germany commenced an antitrust investigation in 2015 involving the industry association for metal packaging in Germany and its members, including our metal container and closures subsidiaries in Germany. At the end of April 2018, the European Commission commenced an antitrust investigation involving the metal packaging industry in Europe including our metal container and closures subsidiaries, which should effectively close out the investigation in Germany. Given the early stage, we cannot reasonably assess what actions may result from these investigations or estimate what costs we may incur as a result thereof. 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.

Retirement Benefits

Retirement Benefits	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits The components of the net periodic pension benefit credit for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) Service cost $ 3,721 $ 3,168 Interest cost 6,309 6,270 Expected return on plan assets (17,123 ) (15,713 ) Amortization of prior service cost 35 80 Amortization of actuarial losses 1,786 1,853 Net periodic benefit credit $ (5,272 ) $ (4,342 ) The components of the net periodic other postretirement benefit credit for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) Service cost $ 31 $ 36 Interest cost 163 176 Amortization of prior service credit (649 ) (853 ) Amortization of actuarial gains (119 ) (139 ) Net periodic benefit credit $ (574 ) $ (780 )

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
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 2017 and 2018 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. In December 2017, the staff of the Securities and Exchange Commission issued Staff Accounting Bulletin No. 118, which provides guidance for the application of GAAP as it pertains to accounting for income taxes and allows us to record provisional amounts pertaining to the enacted legislation in the United States commonly referred to as the Tax Cuts and Jobs Act, or the 2017 Tax Act, during a measurement period ending in December 2018. For the three months ended March 31, 2018, we did not have any significant adjustments to our provisional amounts. Additional work is necessary to complete the analysis of open items, including our deferred tax assets and liabilities and our historical foreign earnings. Any subsequent adjustment to the provisional amounts will be recorded in current tax expense in the fiscal quarter of 2018 during which the analysis is completed.

Treasury Stock

Treasury Stock	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Treasury Stock	Treasury Stock On October 17, 2016, 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, 2021, of which we had approximately $129.4 million remaining under this authorization for the repurchase of our common stock at March 31, 2018. We did not repurchase any shares of our common stock under this authorization during the three months ended March 31, 2018. During the first three months of 2018, we issued 279,840 treasury shares which had an average cost of $3.14 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 96,182 shares of our common stock at an average cost of $28.55 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 March 31, 2018, 64,543,494 shares of our common stock were held in treasury.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
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 three months of 2018, 355,400 restricted stock units were granted to certain of our officers and other key employees. The fair value of these restricted stock units at the grant date was $10.1 million , which is being amortized ratably over the respective vesting period from the grant date.

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information Reportable business segment information for the three months ended March 31 was as follows: Metal Containers Closures Plastic Containers Corporate Total (Dollars in thousands) Three Months Ended March 31, 2018 Net sales $ 485,954 $ 370,345 $ 155,981 $ — $ 1,012,280 Depreciation and amortization (1) 20,254 18,650 8,950 22 47,876 Rationalization charges 482 39 182 — 703 Segment income 37,093 48,224 11,082 (4,217 ) 92,182 Three Months Ended March 31, 2017 Net sales $ 466,236 $ 197,682 $ 141,489 $ — $ 805,407 Depreciation and amortization (1) 18,798 9,182 8,437 23 36,440 Rationalization charges 722 53 110 — 885 Segment income (2) 43,870 23,799 6,834 (17,741 ) 56,762 _____________ (1) Depreciation and amortization excludes amortization of debt issuance costs of $1.1 million for each of the three months ended March 31, 2018 and 2017. (2) Segment income for Corporate includes costs attributed to announced acquisitions of $13.2 million for the three months ended March 31, 2017. Total segment income is reconciled to income before income taxes as follows: 2018 2017 (Dollars in thousands) Total segment income $ 92,182 $ 56,762 Interest and other debt expense 30,481 23,095 Income before income taxes $ 61,701 $ 33,667 Sales and segment income 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 segment income during that quarter.

Subsequent Event (Notes)

Subsequent Event (Notes)	3 Months Ended
	Mar. 31, 2018
Subsequent Event [Abstract]
Subsequent Events [Text Block]	Subsequent Event On April 16, 2018, we redeemed all outstanding 5% Notes ( $280.0 million aggregate principal amount) at a redemption price of 100 percent of their principal amount plus accrued and unpaid interest up to the redemption date. We funded this redemption with revolving loan borrowings under the Credit Agreement and cash on hand. As a result of the redemption of the 5% Notes, we expect to record a pre-tax charge for the loss on early extinguishment of debt of approximately $1.4 million during the second quarter of 2018 for the write-off of unamortized debt issuance costs.

Significant Accounting Polici23

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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, 2017 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. Deferred income taxes as of March 31, 2017 previously included in other liabilities have been presented as a separate line item on the Condensed Consolidated Balance Sheet to conform to current period 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, 2017.
Recently Issued Accounting Pronouncements	Stock Split . On May 3, 2017, our Board of Directors declared a two -for-one stock split of our issued common stock. The stock split was effected on May 26, 2017 in the form of a stock dividend. Stockholders of record at the close of business on May 15, 2017 were issued one additional share of common stock for each share of common stock owned on that date. Information pertaining to per share and share amounts have been retroactively adjusted in the Condensed Consolidated Statement of Income for the three months ended March 31, 2017. Recently Adopted Accounting Pronouncements. In May 2014, the Financial Accounting Standards Board, or FASB, issued an accounting standards update, or ASU, that amends the guidance for revenue recognition. This amendment contains principles that require an entity to recognize revenue to depict the transfer of promised goods and services to customers at an amount that an entity expects to be entitled to in exchange for those promised goods or services. We adopted this amendment on January 1, 2018, using the modified retrospective method. Results for the reporting period beginning January 1, 2018 are presented under the new guidance, while prior period amounts are not adjusted. The adoption of this amendment required us to accelerate the recognition of revenue prior to shipment to certain customers in cases where we produce promised goods with no alternative use to us and for which we have an enforceable right of payment for production completed. As a result of the adoption of this amendment, we increased trade accounts receivable, net by $69.4 million , decreased inventories by $56.6 million , increased accrued liabilities by $0.9 million and increased long-term deferred income tax liabilities by $2.8 million , resulting in a net increase to retained earnings of $9.1 million , all as of January 1, 2018. The adoption of this amendment did not have a material impact on our financial position, results of operations or cash flows. See Note 2 for further information. In August 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 the manner in which items are classified on the statement of cash flows as either operating, investing or financing activities. We have adopted this amendment as of January 1, 2018 using the retrospective approach. The adoption of this amendment did not have a material impact on our statement of cash flows. In March 2017, the FASB issued an ASU that amends the presentation of net periodic pension cost and net periodic postretirement benefit cost. This amendment requires an entity to disaggregate the service cost component from the other components of net periodic benefit cost, to report the service cost component in the same line item as other compensation costs and to report the other components of net periodic benefit cost (which include interest cost, expected return on plan assets, amortization of prior service cost or credit and actuarial gains and losses) separately. In addition, capitalization of net periodic benefit cost in assets is limited to the service cost component. We have adopted this amendment as of January 1, 2018. As a result of separately reporting the other components of net periodic benefit cost, we retrospectively increased cost of goods sold by $6.6 million , increased selling, general and administrative expenses by $1.7 million and reported other pension and postretirement income of $8.3 million in our Condensed Consolidated Statement of Income for the three months ended March 31, 2017 based on amounts previously included in net periodic benefit costs for retirement benefits as disclosed in Note 10. The adoption of this amendment did not have a material impact on our financial position, results of operations or cash flows. Recently Issued Accounting Pronouncements. In February 2016, the FASB issued an ASU that amends existing guidance for certain leases by lessees. This amendment will require an entity 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.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Disaggregation of Revenue	Revenues by business segment for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) Metal containers $ 485,954 $ 466,236 Closures 370,345 197,682 Plastics 155,981 141,489 $ 1,012,280 $ 805,407 Revenues by geography for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) North America $ 779,790 $ 674,839 Europe and other 232,490 130,568 $ 1,012,280 $ 805,407

Rationalization Charges (Tables

Rationalization Charges (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Activity in Rationalization Plan Reserves	Rationalization charges by business segment for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) Metal containers $ 482 $ 722 Closures 39 53 Plastic containers 182 110 $ 703 $ 885 Activity in reserves for our rationalization plans for the three months ended March 31 was as follows: Employee Severance and Benefits Plant Exit Costs Non-Cash Asset Write-Down Total (Dollars in thousands) Balance at December 31, 2017 $ 22 $ 2,397 $ — $ 2,419 Charged to expense 377 65 261 703 Utilized and currency translation (342 ) (521 ) (261 ) (1,124 ) Balance at March 31, 2018 $ 57 $ 1,941 $ — $ 1,998

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2017 $ (104,822 ) $ (89 ) $ (84,062 ) $ (188,973 ) Other comprehensive income before reclassifications — (366 ) 13,800 13,434 Amounts reclassified from accumulated other comprehensive loss 856 (24 ) — 832 Other comprehensive income 856 (390 ) 13,800 14,266 Balance at March 31, 2018 $ (103,966 ) $ (479 ) $ (70,262 ) $ (174,707 )

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following: March 31, 2018 March 31, 2017 Dec. 31, 2017 (Dollars in thousands) Raw materials $ 230,847 $ 187,897 $ 233,410 Work-in-process 133,271 125,941 124,396 Finished goods 449,133 452,931 433,937 Other 12,858 14,504 12,370 826,109 781,273 804,113 Adjustment to value inventory at cost on the LIFO method (82,823 ) (68,419 ) (82,823 ) $ 743,286 $ 712,854 $ 721,290

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-term Debt	Long-term debt consisted of the following: March 31, 2018 March 31, 2017 Dec. 31, 2017 (Dollars in thousands) Bank debt Bank revolving loans $ 415,000 $ 319,510 $ — U.S. term loans 800,000 — 800,000 Canadian term loans 23,362 34,166 27,147 Other foreign bank revolving and term loans 30,135 46,507 76,798 Total bank debt 1,268,497 400,183 903,945 5% Senior Notes 280,000 500,000 280,000 5½% Senior Notes 300,000 300,000 300,000 4¾% Senior Notes 300,000 300,000 300,000 3¼% Senior Notes 801,060 692,380 780,325 Total debt - principal 2,949,557 2,192,563 2,564,270 Less unamortized debt issuance costs 16,196 20,552 16,979 Total debt 2,933,361 2,172,011 2,547,291 Less current portion 758,652 580,247 108,789 $ 2,174,709 $ 1,591,764 $ 2,438,502

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018: Carrying Amount Fair Value (Dollars in thousands) Assets: Cash and cash equivalents $ 174,540 $ 174,540 Liabilities: Bank debt $ 1,268,497 $ 1,268,497 5% Senior Notes 280,000 280,162 5½% Senior Notes 300,000 306,195 4¾% Senior Notes 300,000 291,585 3¼% Senior Notes 801,060 817,105 Derivative instruments (accrued and other liabilities) 626 626

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The components of the net periodic pension benefit credit for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) Service cost $ 3,721 $ 3,168 Interest cost 6,309 6,270 Expected return on plan assets (17,123 ) (15,713 ) Amortization of prior service cost 35 80 Amortization of actuarial losses 1,786 1,853 Net periodic benefit credit $ (5,272 ) $ (4,342 ) The components of the net periodic other postretirement benefit credit for the three months ended March 31 were as follows: 2018 2017 (Dollars in thousands) Service cost $ 31 $ 36 Interest cost 163 176 Amortization of prior service credit (649 ) (853 ) Amortization of actuarial gains (119 ) (139 ) Net periodic benefit credit $ (574 ) $ (780 )

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Reportable Business Segment Information	Reportable business segment information for the three months ended March 31 was as follows: Metal Containers Closures Plastic Containers Corporate Total (Dollars in thousands) Three Months Ended March 31, 2018 Net sales $ 485,954 $ 370,345 $ 155,981 $ — $ 1,012,280 Depreciation and amortization (1) 20,254 18,650 8,950 22 47,876 Rationalization charges 482 39 182 — 703 Segment income 37,093 48,224 11,082 (4,217 ) 92,182 Three Months Ended March 31, 2017 Net sales $ 466,236 $ 197,682 $ 141,489 $ — $ 805,407 Depreciation and amortization (1) 18,798 9,182 8,437 23 36,440 Rationalization charges 722 53 110 — 885 Segment income (2) 43,870 23,799 6,834 (17,741 ) 56,762 _____________ (1) Depreciation and amortization excludes amortization of debt issuance costs of $1.1 million for each of the three months ended March 31, 2018 and 2017. (2) Segment income for Corporate includes costs attributed to announced acquisitions of $13.2 million for the three months ended March 31, 2017.
Reconciliation of Segment Income from Operations to Income before Income Taxes	Total segment income is reconciled to income before income taxes as follows: 2018 2017 (Dollars in thousands) Total segment income $ 92,182 $ 56,762 Interest and other debt expense 30,481 23,095 Income before income taxes $ 61,701 $ 33,667

Significant Accounting Polici32

Significant Accounting Policies Revenue From Contracts with Customers ASU 2014-09 (Details) - Accounting Standards Update 2014-09 [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Increase (Decrease)	$ 69.4
Inventories [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Increase (Decrease)	(56.6)
Accrued Liabilities [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Increase (Decrease)	0.9
Long Term Deferred Income Tax Liabilities
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Increase (Decrease)	2.8
Retained Earnings
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Increase (Decrease)	$ 9.1

Significant Accounting Polici33

Significant Accounting Policies Stock Split (Details)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Stock split ratio (in shares)	2

Significant Accounting Polici34

Significant Accounting Policies Net Periodic Pension Cost and Net Postretirement Benefit Cost (Details) - Accounting Standards Update 2017-07 [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Cost of Goods, Total [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Increase (Decrease)	$ 6.6
Selling, General and Administrative Expenses [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Increase (Decrease)	1.7
Pension and Other Postretirement Income [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Increase (Decrease)	$ 8.3

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Net sales	$ 1,012,280	$ 805,407
Contract assets	73,600
Trade accounts receivable, net	578,584	331,668	$ 454,637
Inventories	743,286	712,854	$ 721,290
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Trade accounts receivable, net	505,000
Inventories	804,100
Metal Containers [Member]
Net sales	485,954	466,236
Closures [Member]
Net sales	370,345	197,682
Plastic Containers [Member]
Net sales	155,981	141,489
North America [Member]
Net sales	779,790	674,839
Europe and Other [Member]
Net sales	$ 232,490	$ 130,568

Rationalization Charges Activit

Rationalization Charges Activity in Rationalization Plan Reserves (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restructuring Reserve [Roll Forward]
Balance at December 31, 2017	$ 2,419
Charged to expense	703	$ 885
Utilized and currency translation	(1,124)
Balance at March 31, 2018	1,998
Employee Severance and Benefits [Member]
Restructuring Reserve [Roll Forward]
Balance at December 31, 2017	22
Charged to expense	377
Utilized and currency translation	(342)
Balance at March 31, 2018	57
Plant Exit Costs [Member]
Restructuring Reserve [Roll Forward]
Balance at December 31, 2017	2,397
Charged to expense	65
Utilized and currency translation	(521)
Balance at March 31, 2018	1,941
Non-Cash Asset Write-Down [Member]
Restructuring Reserve [Roll Forward]
Balance at December 31, 2017	0
Charged to expense	261
Utilized and currency translation	(261)
Balance at March 31, 2018	0
Metal Containers [Member]
Restructuring Reserve [Roll Forward]
Charged to expense	482	722
Closures [Member]
Restructuring Reserve [Roll Forward]
Charged to expense	39	53
Plastic Containers [Member]
Restructuring Reserve [Roll Forward]
Charged to expense	182	$ 110
Accrued Liabilities [Member]
Restructuring Reserve [Roll Forward]
Balance at March 31, 2018	900
Other Liabilities [Member]
Restructuring Reserve [Roll Forward]
Balance at March 31, 2018	1,100
Rationalization Plan [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses for our rationalization plans expected primarily within the next twelve months	1,400
Restructuring Reserve [Roll Forward]
Remaining cash expenditures for our rationalization plans expected through 2023	$ 3,400

Amounts Included in Accumulated

Amounts Included in Accumulated Other Comprehensive Loss, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2017	$ (188,973)
Other comprehensive income before reclassifications	13,434
Amounts reclassified from accumulated other comprehensive loss	832
Other comprehensive income	14,266	$ 7,746
Balance at March 31, 2018	(174,707)	$ (216,110)
Unrecognized Net Defined Benefit Plan Costs [Member]
Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2017	(104,822)
Other comprehensive income before reclassifications	0
Amounts reclassified from accumulated other comprehensive loss	856
Other comprehensive income	856
Balance at March 31, 2018	(103,966)
Change in Fair Value of Derivatives [Member]
Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2017	(89)
Other comprehensive income before reclassifications	(366)
Amounts reclassified from accumulated other comprehensive loss	(24)
Other comprehensive income	(390)
Balance at March 31, 2018	(479)
Foreign Currency Translation [Member]
Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2017	(84,062)
Other comprehensive income before reclassifications	13,800
Amounts reclassified from accumulated other comprehensive loss	0
Other comprehensive income	13,800
Balance at March 31, 2018	$ (70,262)

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During the Period Related to Translation of Foreign Subsidiaries Utlizing a Functional Currency Other Than the US Dollar	$ 13,800	$ 7,457
Unrecognized Net Defined Benefit Plan Costs [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Loss) Reclassification Adjustment from AOCI, Pension and other Postretirement Benefit Plans, before tax	(1,100)
Benefit for Income Taxes	200
Amortization of net actuarial (losses), before tax	(1,700)
Net prior service credit arising during period, before tax	600
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During the Period Related to Translation of Foreign Subsidiaries Utlizing a Functional Currency Other Than the US Dollar	20,500
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Related to Net Investment Hedges, before Reclassification and Tax	(9,600)
Foreign currency translation, tax benefit related to net investment hedges	2,300
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period Related to Intra-Entity Transactions of a Long-Term Investment Nature, Net of Tax	$ 600

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 230,847	$ 233,410	$ 187,897
Work-in-process	133,271	124,396	125,941
Finished goods	449,133	433,937	452,931
Other	12,858	12,370	14,504
Inventory, Gross, Total	826,109	804,113	781,273
Adjustment to value inventory at cost on the LIFO method	(82,823)	(82,823)	(68,419)
Inventories	$ 743,286	$ 721,290	$ 712,854

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Total debt - principal	$ 2,949,557	$ 2,564,270	$ 2,192,563
Less unamortized debt issuance costs	16,196	16,979	20,552
Debt long term and short term less unamortized debt issuance costs combined amount	2,933,361	2,547,291	2,172,011
Less current portion	758,652	108,789	580,247
Long-term debt	2,174,709	2,438,502	1,591,764
Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	1,268,497	903,945	400,183
5% Senior Notes due 2020 [Member]
Debt Instrument [Line Items]
Total debt - principal	$ 280,000	$ 280,000	$ 500,000
Senior note interest rate (percent)	5.00%	5.00%	5.00%
Less current portion	$ 280,000
5 1/2% Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Total debt - principal	$ 300,000	$ 300,000	$ 300,000
Senior note interest rate (percent)	5.50%	5.50%	5.50%
4 3/4% Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Total debt - principal	$ 300,000	$ 300,000	$ 300,000
Senior note interest rate (percent)	4.75%	4.75%	4.75%
3 1/4% Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Total debt - principal	$ 801,060	$ 780,325	$ 692,380
Senior note interest rate (percent)	3.25%	3.25%	3.25%
Revolving Loan [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	$ 415,000	$ 0	$ 319,510
Less current portion	415,000
U S Term Loans [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	800,000	800,000	0
Less current portion	40,000
Canadian Term Loans [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	23,362	27,147	34,166
Other Foreign Bank Revolving And Term Loans [Member] | Bank debt [Member]
Debt Instrument [Line Items]
Total debt - principal	30,135	$ 76,798	$ 46,507
Less current portion	$ 23,700

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
USD Interest Rate Swap Contract One [Member]
Derivative [Line Items]
Notional principal amount of outstanding of the interest rate swap agreement	$ 50,000
Fixed interest rate	2.878%
USD Interest Rate Swap Contract Two [Member]
Derivative [Line Items]
Notional principal amount of outstanding of the interest rate swap agreement	$ 50,000
Fixed interest rate	2.878%
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Cash and cash equivalents	$ 174,540
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	626
Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Cash and cash equivalents	174,540
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	626
Bank debt [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	1,268,497
Bank debt [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	1,268,497
5% Senior Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	280,000
5% Senior Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	280,162
5 1/2% Senior Notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	300,000
5 1/2% Senior Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	306,195
4 3/4% Senior Notes due 2025 [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	300,000
4 3/4% Senior Notes due 2025 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	291,585
3 1/4% Senior Notes due 2025 [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	801,060
3 1/4% Senior Notes due 2025 [Member] | Estimate of Fair Value, Fair Value Disclosure [Member]
Derivative [Line Items]
Long-Term Debt	$ 817,105
5% Senior Notes due 2020 [Member]
Derivative [Line Items]
Senior note interest rate (percent)	5.00%	5.00%	5.00%
5% Senior Notes due 2020 [Member] | Senior Notes [Member]
Derivative [Line Items]
Senior note interest rate (percent)	5.00%
5 1/2% Senior Notes due 2022 [Member]
Derivative [Line Items]
Senior note interest rate (percent)	5.50%	5.50%	5.50%
5 1/2% Senior Notes due 2022 [Member] | Senior Notes [Member]
Derivative [Line Items]
Senior note interest rate (percent)	5.50%
3 1/4% Senior Notes due 2025 [Member]
Derivative [Line Items]
Senior note interest rate (percent)	3.25%	3.25%	3.25%
4 3/4% Senior Notes due 2025 [Member]
Derivative [Line Items]
Senior note interest rate (percent)	4.75%	4.75%	4.75%
Accumulated Translation Adjustment [Member]
Derivative [Line Items]
Foreign currency (losses) of net investment hedges included in accumulated other comprehensive loss	$ (9,600)

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Benefit Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3,721	$ 3,168
Interest cost	6,309	6,270
Expected return on plan assets	(17,123)	(15,713)
Amortization of prior service cost (credit)	35	80
Amortization of actuarial losses (gains)	1,786	1,853
Net periodic benefit credit	(5,272)	(4,342)
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	31	36
Interest cost	163	176
Amortization of prior service cost (credit)	(649)	(853)
Amortization of actuarial losses (gains)	(119)	(139)
Net periodic benefit credit	$ (574)	$ (780)

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2018	Oct. 17, 2016
Equity, Class of Treasury Stock [Line Items]
Aggregate stock authorized for repurchase program (shares)		$ 300
Remaining authorized repurchase amount	$ 129.4
Treasury stock (shares)	64,543,494
2004 Amended and Restated Stock Incentive Plan
Equity, Class of Treasury Stock [Line Items]
Treasury shares issued for restricted stock units that vested during the period	279,840
Average cost of treasury shares that were issued for restricted stock units that vested during the period (usd per share)	$ 3.14
Shares repurchased to satisfy minimum employee withholding tax requirements resulting from the vesting of such restricted stock units (shares)	96,182
Average cost per share of treasury stock acquired to satisfy minimum employee withholding requirements (usd per share)	$ 28.55

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - Restricted stock units [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted (shares) | shares	355,400
Fair value of restricted stock units granted | $	$ 10.1

Reportable Business Segment Inf

Reportable Business Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Net sales		$ 1,012,280	$ 805,407
Depreciation and amortization	[1]	47,876	36,440
Rationalization charges		703	885
Segment Income		92,182	56,762
Amortization of debt issuance costs excluded from depreciation and amortization		1,100	1,100
Metal Containers [Member]
Segment Reporting Information [Line Items]
Net sales		485,954	466,236
Depreciation and amortization	[1]	20,254	18,798
Rationalization charges		482	722
Segment Income		37,093	43,870
Closures [Member]
Segment Reporting Information [Line Items]
Net sales		370,345	197,682
Depreciation and amortization	[1]	18,650	9,182
Rationalization charges		39	53
Segment Income		48,224	23,799
Plastic Containers [Member]
Segment Reporting Information [Line Items]
Net sales		155,981	141,489
Depreciation and amortization	[1]	8,950	8,437
Rationalization charges		182	110
Segment Income		11,082	6,834
Corporate [Member]
Segment Reporting Information [Line Items]
Net sales		0	0
Depreciation and amortization	[1]	22	23
Rationalization charges		0	0
Segment Income		$ (4,217)	(17,741)	[2]
Costs attributed to announced acquisitions			$ 13,200
[1]	Depreciation and amortization excludes amortization of debt issuance costs of $1.1 million for each of the three months ended March 31, 2018 and 2017.
[2]	Segment income for Corporate includes costs attributed to announced acquisitions of $13.2 million for the three months ended March 31, 2017.

Reconciliation of Segment Incom

Reconciliation of Segment Income to Income before Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Segment Income	$ 92,182	$ 56,762
Interest and other debt expense	30,481	23,095
Income before income taxes	$ 61,701	$ 33,667

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ in Thousands	Apr. 16, 2018	Mar. 31, 2018	Mar. 31, 2017
Subsequent Event [Line Items]
Gain (Loss) on Extinguishment of Debt		$ 0	$ (2,677)
Senior Notes [Member] | Five Percent Senior Notes due 2020 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Early Repayment of Senior Debt	$ 280,000
Debt Instrument, Redemption Price, Percentage Plus Accrued and Unpaid Interest up to the Redemption Date	100.00%
Gain (Loss) on Extinguishment of Debt	$ (1,400)