XML 47 R36.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Segment, Major Customer and Major Supplier Information (Tables)
 3 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Selected segment financial information
The following table displays Adjusted EBITDA by reportable segment.
Three Months Ended
June 30,
in millions20242023
North America$183 $166 
Europe90 88 
Asia92 87 
South America132 84 
Eliminations and Other3 (4)
Adjusted EBITDA$500 $421 
The following table displays net sales by product end market.
Three Months Ended
June 30,
in millions20242023
Beverage packaging(1)
$2,033 $1,784 
Automotive980 1,018 
Aerospace and industrial plate160 176 
Specialty1,014 1,113 
Net sales$4,187 $4,091 
_________________________
(1)Prior to the three months ended September 30, 2023, we utilized the term "can" for the beverage packaging end market. This change is solely to align the terminology with that being currently used by the Company and does not impact the amounts presented.
Reconciliation from income from reportable segments to "Net income attributable to out common shareholder"
The table below displays the reconciliation from net income attributable to our common shareholder to Adjusted EBITDA.
 
Three Months Ended
June 30,
in millions20242023
Net income attributable to our common shareholder
$151 $156 
Net loss attributable to noncontrolling interests
(1)— 
Income tax provision
60 54 
Income before income tax provision210 210 
Depreciation and amortization140 131 
Interest expense and amortization of debt issuance costs72 77 
Adjustment to reconcile proportional consolidation(1)
13 14 
Unrealized gains on change in fair value of derivative instruments, net
(7)(4)
Realized losses (gains) on derivative instruments not included in Adjusted EBITDA(2)
2 (3)
Restructuring and impairment expenses, net19 3 
Loss on sale or disposal of assets, net
1 — 
Metal price lag7 (5)
Other, net(3)
43 (2)
Adjusted EBITDA$500 $421 
_________________________
(1)Adjustment to reconcile proportional consolidation relates to depreciation, amortization, and income taxes of our equity method investments. Income taxes related to our equity method investments are reflected in the carrying value of the investment and not in our consolidated income tax provision.
(2)Realized losses (gains) on derivative instruments not included in Adjusted EBITDA represents foreign currency derivatives unrelated to operations.
(3)Other, net for the three months ended June 30, 2024, includes $40 million of non-recurring non-operating charges from exceptional flooding at our Sierre, Switzerland plant caused by unprecedented heavy rainfall. See Note 12 – Other Expenses (Income), Net for additional information about this event.
Net sales to largest customers, as a percentage of total Net sales
The following table displays customers representing 10% or more of our net sales for any of the periods presented and their respective percentage of net sales.
 
Three Months Ended
June 30,
20242023
Ball16 %11 %
Percentage of total combined metal purchases The table below shows our purchases from Rio Tinto as a percentage of our total combined metal purchases.
 
Three Months Ended
June 30,
 20242023
Purchases from Rio Tinto as a percentage of total combined metal purchases9 %10 %