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Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Net revenues $ 1,640 $ 1,352 $ 3,135 $ 2,516
Cost of sales (1,332) (1,202) (2,595) (2,258)
Gross profit 308 150 540 258
Selling, general and administrative expenses (148) (115) (290) (241)
Restructuring, asset impairment and other related charges (1) (10) (1) (8)
Other income, net 12 5 40 11
Operating income from continuing operations 171 30 289 20
Non-operating (expense) income, net (2) 25 8 48
Interest expense, net (50) (42) (99) (84)
Income (loss) from continuing operations before tax 119 13 198 (16)
Income tax (expense) benefit (45) (5) (81) 13
Income (loss) from continuing operations 74 8 117 (3)
Loss from discontinued operations, net of income taxes   (1)   (4)
Net income (loss) 74 7 117 (7)
Income attributable to non-controlling interests (1)   (1) (1)
Net income (loss) attributable to Pactiv Evergreen Inc. common shareholders $ 73 $ 7 $ 116 $ (8)
From continuing operations        
Basic $ 0.41 $ 0.05 $ 0.65 $ (0.02)
Diluted 0.40 0.05 0.65 (0.02)
From discontinued operations        
Basic   (0.01)   (0.02)
Diluted   (0.01)   (0.02)
Total        
Basic 0.41 0.04 0.65 (0.04)
Diluted $ 0.40 $ 0.04 $ 0.65 $ (0.04)