Segment Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

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 March 31, 2026
	External		Intersegment				Capital		Segment
	sales		sales		Depreciation		expenditures		income
Americas Beverage	$	1,530	$	—	$	35	$	24	$	210
European Beverage	588		—		16		48		86
Asia Pacific	303		—		10		3		52
Transit Packaging	496		5		11		7		53
Total reportable segments	2,917		5		72		82		$	401
Other	342		30		7		4
Corporate and unallocated items	—		—		1		1
Total	$	3,259	$	35	$	80	$	87

Three Months Ended March 31, 2025
	External		Intersegment				Capital		Segment
	sales		sales		Depreciation		expenditures		income
Americas Beverage	$	1,320	$	—	$	31	$	9	$	236
European Beverage	512		—		14		16		67
Asia Pacific	279		—		11		—		47
Transit Packaging	482		4		11		8		60
Total reportable segments	2,593		4		67		33		$	410
Other	294		17		7		—
Corporate and unallocated items	—		—		1		—
Total	$	2,887	$	21	$	75	$	33

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 North America tinplate businesses: food can, aerosol can, and closures, 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
	March 31,
	2026		2025
Segment income of reportable segments	$	401	$	410
Segment income of other	47		29
Corporate and unallocated items	(43)		(41)
Restructuring and other, net	(2)		2
Amortization of intangibles	(38)		(35)
Debt extinguishment costs	(3)		—
Other pension and postretirement	(5)		(5)
Interest expense	(97)		(99)
Interest income	12		13
Foreign exchange	3		(2)
Income from operations before taxes and equity in net earnings of affiliates	$	275	$	272