Segment Information

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company evaluates performance and allocates resources based on segment income, which is not a defined term under GAAP. The Company defines segment income as income from operations adjusted to exclude intangibles amortization charges, provisions for restructuring and other and the impact of fair value adjustments related to inventory acquired in an acquisition. Segment income includes cost of products sold, depreciation and general selling and administrative expenses. Segment income should not be considered in isolation or as a substitute for net income prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies.     

The tables below present information about the Company's operating segments.

Three Months Ended September 30, 2025
	External		Intersegment				Capital		Segment
	sales		sales		Depreciation		expenditures		income
Americas Beverage	$	1,417	$	—	$	33	$	29	$	255
European Beverage	658		—		15		41		109
Asia Pacific	259		—		11		5		44
Transit Packaging	517		4		12		5		70
Total reportable segments	2,851		4		71		80		$	478
Other	351		35		7		11
Corporate and unallocated items	—		—		1		1
Total	$	3,202	$	39	$	79	$	92

Three Months Ended September 30, 2024
	External		Intersegment				Capital		Segment
	sales		sales		Depreciation		expenditures		income
Americas Beverage	$	1,368	$	—	$	32	$	41	$	280
European Beverage	573		—		15		15		86
Asia Pacific	284		—		11		4		50
Transit Packaging	526		3		10		6		70
Total reportable segments	2,751		3		68		66		$	486
Other	323		14		5		9
Corporate and unallocated items	—		—		—		1
Total	$	3,074	$	17	$	73	$	76

Nine Months Ended September 30, 2025
	External		Intersegment				Capital		Segment
	sales		sales		Depreciation		expenditures		income
Americas Beverage	$	4,142	$	—	$	97	$	56	$	759
European Beverage	1,805		—		44		79		273
Asia Pacific	794		—		33		9		141
Transit Packaging	1,525		12		33		20		202
Total reportable segments	8,266		12		207		164		$	1,375
Other	972		67		20		14
Corporate and unallocated items	—		—		3		3
Total	$	9,238	$	79	$	230	$	181

Nine Months Ended September 30, 2024
	External		Intersegment				Capital		Segment
	sales		sales		Depreciation		expenditures		income
Americas Beverage	$	3,915	$	—	$	97	$	109	$	712
European Beverage	1,615		—		41		80		225
Asia Pacific	853		—		34		18		147
Transit Packaging	1,596		11		31		17		211
Total reportable segments	7,979		11		203		224		$	1,295
Other	919		48		18		23
Corporate and unallocated items	—		—		1		7
Total	$	8,898	$	59	$	222	$	254

The Company does not disclose total assets by segment as it is not provided to the chief operating decision maker.

The primary sources of revenue included in Other are the Company's food can, aerosol can, and closures businesses in North America, and beverage tooling and equipment operations in the U.S. and U.K.

Corporate and unallocated items include corporate and administrative costs, research and development, and unallocated items such as stock-based compensation and insurance costs.

Intersegment sales primarily include equipment and parts used in the manufacturing process.

A reconciliation of segment income of reportable segments to income before income taxes is as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
Segment income of reportable segments	$	478	$	486	$	1,375	$	1,295
Segment income of other	51		27		115		49
Corporate and unallocated items	(39)		(41)		(126)		(127)
Restructuring and other, net	(30)		13		(75)		(27)
Amortization of intangibles	(37)		(41)		(110)		(122)
Loss from early extinguishments of debt	—		—		(1)		—
Other pension and postretirement	(5)		(523)		(9)		(547)
Interest expense	(101)		(119)		(303)		(344)
Interest income	13		24		40		60
Foreign exchange	(8)		(3)		(19)		(15)
Income (loss) from operations before taxes and equity in net earnings of affiliates	$	322	$	(177)	$	887	$	222