Financial Analysis

ACQUISITIONS Business Combinations On December 1, 2025 we completed the acquisition of all the outstanding capital stock of Sommaplast, a specialized provider of oral dosing pharma packaging solutions, such as droppers, dispensers and dosing cups, based in Brazil. The aggregate purchase price was approximately $31.0 million (net of $0.7 million cash acquired), which includes $24.5 million in cash paid at closing, $2.5 million held in restricted cash and contingent consideration with a fair value of $4.0 million. The contingent consideration is payable upon achieving future financial performance milestones as defined in the purchase agreement. Based on a projection as of the acquisition date, we estimated the aggregate fair value for this contingent consideration arrangement utilizing a Monte Carlo valuation model. The restricted cash is pending the finalization of indemnity escrows and will be released in annual installments of 25% each over the next four years. The results of Sommaplast have been included in the consolidated financial statements within our Pharma segment since the date of acquisition. We are working to complete the valuation of assets acquired and liabilities assumed and have recorded a preliminary purchase price allocation as of December 31, 2025. Net assets acquired totaled $31.0 million. Within definite-lived intangible assets, we allocated $3.7 million to customer relationships which have an estimated useful life of 15 years. The fair value of customer r …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

"COMMITMENTS AND CONTINGENCIES We are subject to a number of lawsuits and claims both actual and potential in nature including those involving intellectual property and commercial disputes. For example, we are involved in legal proceedings in certain jurisdictions related to alleged infringement of intellectual property rights, alleged customer breach of confidentiality obligations, alleged customer misuse of proprietary information and alleged violations of competition and antitrust laws. We are actively litigating our interests in these matters and management believes the resolution of these claims and lawsuits will not have a material adverse effect on our financial position, results of operations or cash flows, claims and legal proceedings are subject to inherent uncertainties, and unfavorable outcomes could occur that could include amounts in excess of any accruals which management has established. Were such unfavorable final outcomes to occur, it is possible that they could have a material adverse effect on our financial position, results of operations and cash flows. Purchase Commitments We have various purchase commitments for raw materials, supplies, and property and equipment obtained in the normal course of business. As of December 31, 2025, we have unconditional purchase commitments of approximately $56.2 million of which the majority relate to open purchase orders for fixed assets over the next three years, for which no liabilities have been recorded. Legal Proce …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"DEBT Short-term obligations At December 31, 2025 and 2024, our short term obligations, revolving credit facility and overdrafts consisted of the following: 2025 2024 Short-term obligations 1.50% to 3.00% $ 31,314 $ Revolving credit facility 2.96% 152,633 176,035 $ 183,947 $ 176,035 The short-term obligations of $31.3 million were acquired as part of the BTY acquisition and bear interest at rates ranging from 1.5% to 3.0%. These obligations have contractual maturities of less than one year and are therefore classified as short-term obligations within the Consolidated Balance Sheets. We have a revolving credit facility (the ""revolving credit facility"") with a syndicate of banks that provides us with unsecured financing of up to $600.0 million, which may be increased by up to $300.0 million more, subject to the satisfaction of certain conditions. The revolving credit facility is available in the U.S. and to our wholly-owned UK subsidiary and could be drawn in various currencies including USD, EUR, GBP, and CHF. On July 2, 2024, we entered into a new amended and restated agreement (the ""amended revolving credit facility"") that extended the maturity date to July 2029, subject to a maximum of two one-year extensions in certain circumstances. As of December 31, 2025, 130.0 million ($152.6 million) was utilized under the amended revolving credit facility in the U.S. and no balance was utilized by our wholly-owned UK subsidiary. As of December 31, 2024, we utilized 170.0 million …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"STOCK-BASED COMPENSATION We issue restricted stock units (RSUs), which consist of time-based and performance-based awards, to employees under stock awards plans approved by stockholders. In addition, RSUs are issued to non-employee directors under a Restricted Stock Unit Award Agreement for Directors pursuant to the Company's 2018 Equity Incentive Plan. RSUs granted to employees vest according to a specified performance period and/or vesting period. Time-based RSUs generally vest over three years. Performance-based RSUs vest at the end of the specified performance period, generally three years, assuming required performance or market vesting conditions are met. For awards granted in the first quarter of 2023 and thereafter, our performance-based RSUs will vest based on our return on invested capital (""ROIC""). Award share payouts depend on the extent to which the ROIC performance goal has been achieved, but the final payout is adjusted by a total shareholder return (TSR) modifier. At the time of vesting, the vested shares of common stock are issued in the employees name. In addition, RSU awards are generally net settled (shares are withheld to cover the employee tax obligation). RSUs granted to directors are only time-based and generally vest on or around the first anniversary of the date of grant. The fair value of both time-based RSUs and performance-based RSUs pertaining to internal performance metrics is determined using the closing price of our common stock on the gran …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

"FAIR VALUE Authoritative guidelines require the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities. Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3: Unobservable inputs reflecting managements own assumptions about the inputs used in pricing the asset or liability. As of December 31, 2025, the fair values of our financial assets and liabilities were categorized as follows: Total Level 1 Level 2 Level 3 Assets Investment in equity securities (1) $ 2,503 $ 2,503 $ $ Foreign exchange contracts (2) 298 298 Convertible notes (3) 5,650 5,650 Total assets at fair value $ 8,451 $ 2,503 $ 298 $ 5,650 Liabilities Foreign exchange contracts (2) $ 632 $ $ 632 $ Cross currency swap contract (2) 32,542 32,542 Contingent consideration obligation 3,983 3,983 Total liabilities at fair value $ 37,157 $ $ 33,174 $ 3,983 As of December 31, 2024, the fair values of our financial assets and liabilities were categorized as follows: Total Level 1 Level 2 Level 3 Assets Investment in equity …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the year ended December 31, 2025 by reporting segment are as follows: Pharma Beauty Closures Total Balance as of December 31, 2023 $ 508,447 $ 287,097 $ 167,874 $ 963,418 Foreign currency exchange effects (20,213) (5,811) (1,138) (27,162) Balance as of December 31, 2024 $ 488,234 $ 281,286 $ 166,736 $ 936,256 Acquisitions 9,397 76,183 85,580 Foreign currency exchange effects 41,072 13,379 1,611 56,062 Balance as of December 31, 2025 $ 538,703 $ 370,848 $ 168,347 $ 1,077,898 We have completed the annual impairment analysis of our reporting units as of October 1, 2025. As we performed our annual goodwill impairment assessment, due to events or circumstances that were unfavorable for the Beauty segment, management determined it appropriate to calculate the fair value of the Beauty reporting unit and compare with its associated carrying amount as of October 1, 2025. We estimated the fair value of the reporting unit based upon the present value of their estimated future cash flows. Our determination of fair value involved judgment and the use of estimates and significant assumptions related to projected revenue growth rates, projected EBITDA margins, as well as the discount rate to calculate estimated future cash flows. We believe that our assumptions used in discounting future cash flows are appropriate. Based on our review of macroeconomic, industry, and market events and circumstances of the …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES Income before income taxes consists of: Years Ended December 31, 2025 2024 2023 United States $ 135,913 $ 99,573 $ 49,681 International 355,465 370,192 325,144 Total $ 491,378 $ 469,765 $ 374,825 The provision (benefit) for income taxes is composed of: Years Ended December 31, 2025 2024 2023 Current tax expense (benefit): U.S. Federal $ 6,726 $ 10,933 $ 11,777 U.S. State and Local 3,735 2,744 1,300 International 100,109 103,316 97,455 Total current tax expense (benefit) $ 110,570 $ 116,993 $ 110,532 Deferred tax expense (benefit): U.S. Federal $ 12,040 $ (8,936) $ (10,931) U.S. State and Local 889 (923) (675) International (24,618) (11,547) (8,277) Total deferred tax expense (benefit) $ (11,689) $ (21,406) $ (19,883) Total income tax expense (benefit): U.S. Federal $ 18,766 $ 1,997 $ 846 U.S. State and Local 4,624 1,821 625 International 75,491 91,769 89,178 Total income tax expense (benefit) $ 98,881 $ 95,587 $ 90,649 As further described in Note 1 Summary of Significant Accounting Policies, the Company has elected to prospectively adopt the guidance in ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, or ASU 2023-09. The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Companys effective tax rate for the year ended December 31, 2025 in accordance with the guidance in ASU No. 2023-09: Years Ended December 31, 2025 Amount Percent Provision for Income taxes at U.S. federal statutory rate $ 103,18 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

LEASE COMMITMENTS We lease certain warehouse, plant, and office facilities as well as certain equipment under noncancelable operating and finance leases expiring at various dates through the year 2042. Most of the operating leases contain renewal options and certain leases include options to purchase the related asset during or at the end of the lease term. Amortization expense related to finance leases is included in depreciation expense while rent expense related to operating leases is included within cost of sales and selling research & development and administrative expenses (SG&A). The components of lease expense for the years ended December 31, 2025 and 2024 were as follows: Year Ended December 31, 2025 2024 Operating lease cost $ 22,714 $ 20,061 Finance lease cost: Amortization of right-of-use assets $ 7,778 $ 6,803 Interest on lease liabilities 1,226 1,192 Total finance lease cost $ 9,004 $ 7,995 Short-term lease and variable lease costs $ 21,938 $ 20,149 Supplemental cash flow information related to leases was as follows: Year Ended December 31, 2025 2024 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 22,387 $ 20,376 Operating cash flows from finance leases 1,367 1,289 Financing cash flows from finance leases 3,706 3,054 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 12,135 $ 33,726 Finance leases 4,791 1,705 Supplemental balance sheet information related …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"ADOPTION OF RECENT ACCOUNTING PRONOUNCEMENTS Changes to U.S. GAAP are established by the Financial Accounting Standards Board (FASB) in the form of Accounting Standards Updates (ASUs) to the FASBs Accounting Standards Codification. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (""DISE""), which requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency into the expense captions presented on the face of the income statement. In January 2025, the FASB issued ASU 2025-01 clarifying the effective date. This standard will be effective for fiscal years beginning after December 15, 2026 and interim reporting periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The requirements will be applied prospectively with the option for retrospective adoption. We are evaluating the impact of the standard on our disclosures in the Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which is intended to improve income tax disclosure requirements by requiring (i) consistent categories and greater disaggregation of information in the rate reconciliation and (ii) the disaggregation of income taxes paid by jurisdiction. The guidance makes several other changes to income tax disclosure requirements. The amendments in ASU 2023-09 are effective for fiscal years beginning after December …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"RETIREMENT AND DEFERRED COMPENSATION PLANS We have various noncontributory retirement plans covering certain of our domestic and foreign employees. Benefits under our retirement plans are based on participants years of service and annual compensation as defined by each plan. Annual cash contributions to fund pension costs accrued under our domestic plans are generally at least equal to the minimum funding amounts required by the Employee Retirement Income Security Act of 1974, as amended (ERISA). Certain pension commitments under our foreign plans are also funded according to local requirements or at our discretion. Effective January 1, 2021, our domestic noncontributory retirement plans were closed to new employees and employees who were rehired after December 31, 2020. These employees are instead eligible for additional contribution to their defined contribution 401(k) employee savings plan. All domestic employees with hire/rehire dates prior to January 1, 2021 are still eligible for the domestic pension plans and continue to accrue plan benefits after this date. The following table presents the changes in the benefit obligations and plan assets for the most recent two years for our domestic and foreign plans. Domestic Plans Foreign Plans 2025 2024 2025 2024 Change in benefit obligation: Benefit obligation at beginning of year $ 175,194 $ 186,013 $ 104,196 $ 104,757 Service cost 7,931 9,462 6,711 6,492 Interest cost 9,563 8,968 3,868 3,488 Plan Amendment (17) Curtailment/S …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

RESTRUCTURING INITIATIVES For the years ended December 31, 2025, 2024 and 2023, we recognized $9.8 million, $13.0 million and $45.4 million, respectively, of restructuring costs related to our initiative to better leverage our fixed cost base through growth and cost reduction measures. The cumulative expense incurred as of December 31, 2025 was $74.5 million. As of December 31, 2025, we have recorded the following activity associated with our optimization initiative: Beginning Reserve at December 31, 2024 Net Charges for the Year Ended December 31, 2025 Cash Paid Interest and FX Impact Ending Reserve at December 31, 2025 Employee severance $ 9,161 $ 2,350 $ (7,830) $ 602 $ 4,283 Professional fees and other costs 796 7,487 (6,129) 21 2,175 Totals $ 9,957 $ 9,837 $ (13,959) $ 623 $ 6,458 As of December 31, 2024, we recorded the following activity associated with our optimization initiative: Beginning Reserve at December 31, 2023 Net Charges for the Year Ended December 31, 2024 Cash Paid Interest and FX Impact Ending Reserve at December 31, 2024 Employee severance $ 27,078 $ 6,562 $ (23,791) $ (688) $ 9,161 Professional fees and other costs 2,810 6,457 (8,559) 88 796 Totals $ 29,888 $ 13,019 $ (32,350) $ (600) $ 9,957

RestructuringAndRelatedActivitiesDisclosureTextBlock

REVENUE In prior years, our geographic revenue disclosure was based on shipped from location. Beginning in 2024, we have started to report our geographic sales based on shipped to locations to give the reader a better understanding of the geographies we serve. Revenue by segment and geography based on shipped to locations for the years ended December 31, 2025, 2024 and 2023 were as follows: For the Year Ended December 31, 2025 Segment Europe Domestic Latin America Asia Total Pharma $ 833,146 $ 601,861 $ 48,752 $ 253,722 $ 1,737,481 Beauty 795,903 230,049 163,880 119,605 1,309,437 Closures 233,510 342,392 83,773 70,588 730,263 Total $ 1,862,559 $ 1,174,302 $ 296,405 $ 443,915 $ 3,777,181 For the Year Ended December 31, 2024 Segment Europe Domestic Latin America Asia Total Pharma $ 806,606 $ 556,642 $ 47,124 $ 232,780 $ 1,643,152 Beauty 745,198 241,115 155,692 83,725 1,225,730 Closures 218,064 347,733 83,376 64,835 714,008 Total $ 1,769,868 $ 1,145,490 $ 286,192 $ 381,340 $ 3,582,890 For the Year Ended December 31, 2023 Segment Europe Domestic Latin America Asia Total Pharma $ 779,929 $ 495,057 $ 52,074 $ 193,933 $ 1,520,993 Beauty 806,963 219,760 152,963 88,011 1,267,697 Closures 218,833 336,315 84,146 59,466 698,760 Total $ 1,805,725 $ 1,051,132 $ 289,183 $ 341,410 $ 3,487,450 We perform our obligations under a contract with a customer by transferring goods and/or services in exchange for consideration from the customer. The timing of performance will sometimes differ from th …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"SEGMENT INFORMATION We are organized into three reporting segments. Operations that sell proprietary dispensing systems, drug delivery systems, sealing solutions and services to the prescription drug, consumer health care, injectables, active material science solutions and digital health markets form our Pharma segment. Operations that sell dispensing systems and sealing solutions to the fragrance, facial skincare, color cosmetics, personal care and home care markets form our Beauty segment. Operations that sell dispensing closures, sealing solutions and food service trays to the food, beverage, personal care, home care, beauty and other markets form our Closures segment. The Pharma and Beauty segments are named for the markets they serve with multiple product platforms, while the Closures segment is named primarily for a single product platform that serves all available markets. The accounting policies of the segments are the same as those described in Note 1 Summary of Significant Accounting Policies. We adopted ASU 2023-07, Improvement to Reportable Segment Disclosures which requires enhanced segment disclosure. Our chief operating decision maker, (""CODM"") is our President and Chief Executive Officer, Stephan Tanda. Our CODM is provided operating reports from each of our reportable segments which include or can easily derive significant segment expenses identified as selling, research & development and administrative expenses and cost of sales by segment. Additional …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"COMMITMENTS AND CONTINGENCIES We are subject to a number of lawsuits and claims both actual and potential in nature including those involving intellectual property and commercial disputes. For example, we are involved in legal proceedings in certain jurisdictions related to alleged infringement of intellectual property rights, alleged customer breach of confidentiality obligations, alleged customer misuse of proprietary information and alleged violations of competition and antitrust laws. We are actively litigating our interests in these matters and management believes the resolution of these claims and lawsuits will not have a material adverse effect on our financial position, results of operations or cash flows, claims and legal proceedings are subject to inherent uncertainties, and unfavorable outcomes could occur that could include amounts in excess of any accruals which management has established. Were such unfavorable final outcomes to occur, it is possible that they could have a material adverse effect on our financial position, results of operations and cash flows. Legal Proceedings On March 25, 2025, AptarGroup, Inc. and its subsidiary, Aptar France SAS, filed a lawsuit in the United States District Court for the Southern District of New York against ARS Pharmaceuticals, Inc. and ARS Pharmaceuticals Operations, Inc. (together, ARS). The complaint alleges that ARS misappropriated Aptars trade secrets and breached multiple contractual confidentiality obligations. Apta …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Short-Term Obligations At June 30, 2026 and December 31, 2025, our short-term obligations, revolving credit facility and overdrafts consisted of the following: June 30, 2026 December 31, 2025 Short-term obligations 2.57% (1) $ 31,495 $ 31,314 Revolving credit facility 3.54% (1) 186,045 152,633 $ 217,540 $ 183,947 ________________________________________ (1) The rate represents the weighted-average interest rate as of June 30, 2026. We have a revolving credit facility (the revolving credit facility) with a syndicate of banks that provides us with unsecured financing of up to $600.0 million, which may be increased by up to $300.0 million more, subject to the satisfaction of certain conditions. The revolving credit facility is available in the U.S. and to our wholly-owned UK subsidiary and could be drawn in various currencies including USD, EUR, GBP, and CHF. On July 2, 2024, we entered into a new amended and restated agreement (the amended revolving credit facility) that extended the maturity date to July 2029, subject to a maximum of two one-year extensions in certain circumstances. As of June 30, 2026, we had utilized $37.5 million and 130.0 million ($148.5 million) under the amended revolving credit facility in the U.S. and no balance was utilized by our wholly-owned UK subsidiary. As of December 31, 2025, 130.0 million ($152.6 million) was utilized under the amended revolving credit facility in the U.S. and no balance was utilized by our wholly-owned UK subsidiary. The …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

STOCK-BASED COMPENSATION We issue restricted stock units (RSUs), which consist of time-based and performance-based awards, to employees under stock award plans approved by stockholders. In addition, RSUs are issued to non-employee directors under a Restricted Stock Unit Award Agreement for Directors pursuant to the Companys 2018 Equity Incentive Plan. RSUs granted to employees vest according to a specified performance period and/or vesting period. Time-based RSUs generally vest over three years. Performance-based RSUs vest at the end of the specified performance period, generally three years, assuming required performance or market vesting conditions are met. For awards granted in the first quarter of 2023 and thereafter, our performance-based RSUs will vest based on our return on invested capital (ROIC). Award share payouts depend on the extent to which the ROIC performance goal has been achieved, but the final payout is adjusted by a total shareholder return (TSR) modifier. At the time of vesting, the vested shares of common stock are issued in the employees name. In addition, RSU awards are generally net settled (shares are withheld to cover the employee tax obligation). RSUs granted to directors are only time-based and generally vest on or around the first anniversary of the date of grant. The fair value of both time-based RSUs and performance-based RSUs pertaining to internal performance metrics is determined using the closing price of our common stock on the grant date. …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE Authoritative guidelines require the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities. Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3: Unobservable inputs reflecting managements own assumptions about the inputs used in pricing the asset or liability. As of June 30, 2026, the fair values of our financial assets and liabilities were categorized as follows: Total Level 1 Level 2 Level 3 Assets Investment in equity securities (1) $ 2,215 $ 2,215 $ $ Foreign exchange contracts (2) 625 625 Convertible notes (3) 5,000 5,000 Total assets at fair value $ 7,840 $ 2,215 $ 625 $ 5,000 Liabilities Foreign exchange contracts (2) $ 1,045 $ $ 1,045 $ Cross-currency swap contract (2) 24,654 24,654 Contingent consideration obligation 253 253 Total liabilities at fair value $ 25,952 $ $ 25,699 $ 253 As of December 31, 2025, the fair values of our financial assets and liabilities were categorized as follows: Total Level 1 Level 2 Level 3 Assets Investment in equity securit …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the six months ended June 30, 2026 by reporting segment were as follows: Pharma Beauty Closures Total Balance as of December 31, 2025 $ 538,703 $ 370,848 $ 168,347 $ 1,077,898 Foreign currency exchange effects (7,167) (624) (441) (8,232) Balance as of June 30, 2026 $ 531,536 $ 370,224 $ 167,906 $ 1,069,666 The table below shows a summary of intangible assets as of June 30, 2026 and December 31, 2025. June 30, 2026 December 31, 2025 Weighted Average Amortization Period (Years) Gross Carrying Amount Accumulated Amortization Net Value Gross Carrying Amount Accumulated Amortization Net Value Amortized intangible assets: Patents 12.5 $ 18,869 $ (4,687) $ 14,182 $ 19,032 $ (4,016) $ 15,016 Acquired technology 11.0 155,173 (104,338) 50,835 157,350 (99,551) 57,799 Customer relationships 11.7 330,957 (187,760) 143,197 332,088 (177,686) 154,402 Trademarks and trade names 4.7 46,293 (42,873) 3,420 46,885 (41,726) 5,159 License agreements and other 20.5 33,853 (11,748) 22,105 32,927 (9,964) 22,963 Total intangible assets 11.5 $ 585,145 $ (351,406) $ 233,739 $ 588,282 $ (332,943) $ 255,339 Aggregate amortization expense for the intangible assets above for the quarters ended June 30, 2026 and 2025 was $11,159 and $11,087, respectively. Aggregate amortization expense for the intangible assets above for the six months ended June 30, 2026 and 2025 was $22,574 and $21,831, respectively. As of June 30, 2026, …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The tax provision for interim periods is determined using the estimated annual effective consolidated tax rate, based on the current estimate of full-year earnings and related estimated full-year taxes, adjusted for the impact of discrete quarterly items. The Organisation for Economic Co-operation and Developments Model Global Anti-Base Erosion rules under Pillar Two have been enacted by various countries beginning in 2024. These enacted laws relate to the Pillar Two safe harbors, Income Inclusion Rule, Qualified Domestic Minimum Top-up Tax and the Undertaxed Profits Rule for 2025 and onward. We have analyzed the provisions in the applicable jurisdictions and provided for the appropriate tax amounts. We do not expect a material impact from Pillar Two related taxes for 2026. The effective tax rate for the three months ended June 30, 2026 and 2025, respectively, was 23.5% and 20.0%. The effective tax rate for the six months ended June 30, 2026 and 2025, respectively, was 23.0% and 22.5%. The effective tax rate for the three and six months ended June 30, 2026 did not include a deferred tax benefit from the release of a valuation allowance, and greater tax benefits from share-based compensation that existed in the prior-year period. Given our current earnings and anticipated future earnings, we believe there is a reasonable possibility that within the next 12 months, sufficient positive evidence may become available to support the realization of $2.0 million to $5.0 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

LEASES We lease certain warehouse, plant and office facilities, as well as certain equipment, under non-cancelable operating and finance leases expiring at various dates through the year 2042. Most of the operating leases contain renewal options and certain leases include options to purchase the related asset during or at the end of the lease term. Amortization expense related to finance leases is included in depreciation expense, while rent expense related to operating leases is included within cost of sales and selling, research & development and administrative expenses. The components of lease expense for the three and six months ended June 30, 2026 and 2025 were as follows: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Operating lease cost $ 5,590 $ 5,637 $ 11,445 $ 10,877 Finance lease cost: Amortization of right-of-use assets $ 1,589 $ 1,923 $ 3,496 $ 3,781 Interest on lease liabilities 303 285 624 573 Total finance lease cost $ 1,892 $ 2,208 $ 4,120 $ 4,354 Short-term lease and variable lease costs $ 6,805 $ 5,402 $ 12,424 $ 10,250 Supplemental cash flow information related to leases were as follows: Six Months Ended June 30, 2026 2025 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 11,361 $ 10,730 Operating cash flows from finance leases 707 625 Financing cash flows from finance leases 1,905 1,720 Right-of-use assets obtained in exchange for lease obligations: Operatin …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Changes to U.S. GAAP are established by the Financial Accounting Standards Board (FASB) in the form of Accounting Standards Updates (ASUs) to the FASBs Accounting Standards Codification. In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (""DISE""), which requires the disaggregation of certain expenses in the notes to the financial statements, to provide enhanced transparency into the expense captions presented on the face of the income statement. In January 2025, the FASB issued ASU 2025-01 clarifying the effective date. This standard will be effective for fiscal years beginning after December 15, 2026 and interim reporting periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The requirements will be applied prospectively with the option for retrospective adoption. We are evaluating the impact of the standard on our disclosures in the Condensed Consolidated Financial Statements. In September 2025, the FASB issued ASU 2025-06, IntangiblesGoodwill and OtherInternal-Use Software (Subtopic 350-40): Amendments to the Accounting for Software Costs. The update removes the ""project stage"" model for internal-use software and replaces it with a principles-based capitalization framework. Under the new guidance, capitalization begins when it is probable that the project will be completed and the software will perform as intended, and after management has authorized and committed to funding the project. T …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

RETIREMENT AND DEFERRED COMPENSATION PLANS We have various noncontributory retirement plans covering certain of our domestic and foreign employees. Benefits under our retirement plans are based on participants years of service and annual compensation as defined by each plan. Annual cash contributions to fund pension costs accrued under our domestic plans are generally at least equal to the minimum funding amounts required by the Employee Retirement Income Security Act of 1974, as amended (ERISA). Certain pension commitments under our foreign plans are also funded according to local requirements or at our discretion. Effective January 1, 2021, our domestic noncontributory retirement plans were closed to new employees and employees who were rehired after December 31, 2020. These employees are instead eligible for additional contributions to their defined contribution 401(k) employee savings plan. All domestic employees with hire/rehire dates prior to January 1, 2021 are still eligible for the domestic pension plans and continue to accrue plan benefits after this date. Components of Net Periodic Benefit Cost: Domestic Plans Foreign Plans Three Months Ended June 30, 2026 2025 2026 2025 Service cost $ 1,986 $ 1,983 $ 1,572 $ 1,682 Interest cost 2,495 2,391 1,087 971 Expected return on plan assets (3,260) (3,186) (608) (613) Amortization of net (gain) loss (3) (122) 145 312 Amortization of prior service cost 28 25 Net periodic benefit cost $ 1,218 $ 1,066 $ 2,224 $ 2,377 Domestic P …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

RESTRUCTURING INITIATIVES For the three and six months ended June 30, 2026, we recognized $1.4 million and $2.5 million, respectively, of restructuring costs related to our initiatives to better leverage our fixed cost base through growth and cost reduction measures. For the three and six months ended June 30, 2025, we recognized $1.6 million and $3.6 million of restructuring costs related to these initiatives, respectively. The cumulative expense incurred as of June 30, 2026 was $77.0 million. As of June 30, 2026, we have recorded the following activity associated with our optimization initiatives: Beginning Reserve at December 31, 2025 Net Charges for the Six Months Ended June 30, 2026 Cash Paid Interest and FX Impact Ending Reserve at June 30, 2026 Employee severance $ 4,283 $ 44 $ (2,121) $ (33) $ 2,173 Professional fees and other costs 2,175 2,461 (4,033) 29 632 Totals $ 6,458 $ 2,505 $ (6,154) $ (4) $ 2,805 As of June 30, 2025, we have recorded the following activity associated with our optimization initiatives: Beginning Reserve at December 31, 2024 Net Charges for the Six Months Ended June 30, 2025 Cash Paid Interest and FX Impact Ending Reserve at June 30, 2025 Employee severance $ 9,161 $ 362 $ (3,568) $ 691 $ 6,646 Professional fees and other costs 796 3,259 (3,451) 5 609 Totals $ 9,957 $ 3,621 $ (7,019) $ 696 $ 7,255

RestructuringAndRelatedActivitiesDisclosureTextBlock

REVENUE Revenue by segment and geography based on shipped to locations for the three and six months ended June 30, 2026 and 2025 were as follows: For the Three Months Ended June 30, 2026 Segment Europe Domestic Latin America Asia Total Pharma $ 230,731 $ 143,711 $ 19,554 $ 64,171 $ 458,167 Beauty 221,178 60,339 42,187 43,750 367,454 Closures 69,126 87,951 23,320 20,490 200,887 Total $ 521,035 $ 292,001 $ 85,061 $ 128,411 $ 1,026,508 For the Three Months Ended June 30, 2025 Segment Europe Domestic Latin America Asia Total Pharma $ 211,829 $ 161,162 $ 13,520 $ 56,078 $ 442,589 Beauty 205,236 56,832 42,907 29,874 334,849 Closures 58,930 91,755 19,715 18,171 188,571 Total $ 475,995 $ 309,749 $ 76,142 $ 104,123 $ 966,009 For the Six Months Ended June 30, 2026 Segment Europe Domestic Latin America Asia Total Pharma $ 457,417 $ 285,165 $ 39,242 $ 114,903 $ 896,727 Beauty 444,054 117,108 88,466 81,461 731,089 Closures 130,414 169,534 43,320 38,292 381,560 Total $ 1,031,885 $ 571,807 $ 171,028 $ 234,656 $ 2,009,376 For the Six Months Ended June 30, 2025 Segment Europe Domestic Latin America Asia Total Pharma $ 410,522 $ 302,823 $ 25,501 $ 113,210 $ 852,056 Beauty 393,145 115,029 82,493 49,889 640,556 Closures 110,974 174,354 40,662 34,712 360,702 Total $ 914,641 $ 592,206 $ 148,656 $ 197,811 $ 1,853,314 We perform our obligations under a contract with a customer by transferring goods and/or services in exchange for consideration from the customer. The timing of performance will someti …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"SEGMENT INFORMATION We are organized into three reporting segments. Operations that sell proprietary dispensing systems, drug delivery systems, sealing solutions and services to the prescription drug, consumer healthcare, injectables, active material science solutions and digital health markets form our Pharma segment. Operations that sell dispensing systems and sealing solutions to the fragrance, facial skincare, color cosmetics, personal care and home care markets form our Beauty segment. Operations that sell dispensing closures, sealing solutions and food service trays to the food, beverage, personal care, home care, beauty and other markets form our Closures segment. The Pharma and Beauty segments are named for the markets they serve with multiple product platforms, while the Closures segment is named primarily for a single product platform that serves all available markets. The accounting policies of the segments are the same as those described in Part II, Item 8, Note 1 - Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year ended December 31, 2025. Our chief operating decision maker (""CODM"") is our President and Chief Executive Officer, Stephan Tanda. Our CODM is provided operating reports from each of our reportable segments which include or can be used to easily derive significant segment expenses identified as selling, research & development and administrative expenses and cost of sales by segment. Additionally, the other s …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing