Segments (Tables)

3 Months Ended

Sep. 30, 2020

Schedule of Information About Reportable Segments

The following table presents information about reportable segments:


	Three Months Ended September 30,
($ in millions)	2020		2019
Sales including intersegment sales
Flexibles	$	2,400	$	2,431
Rigid Packaging	698		711
Other	—		—
Total sales including intersegment sales	3,098		3,142

Intersegment sales
Flexibles	1		1
Rigid Packaging	—		—
Other	—		—
Total intersegment sales	1		1

Net sales	$	3,097	$	3,141

Adjusted EBIT from continuing operations
Flexibles	$	312	$	283
Rigid Packaging	72		69
Other	(27)		(17)
Adjusted EBIT from continuing operations	358		335
Less: Material restructuring programs (1)	(14)		(17)

Less: Material acquisition costs and other (2)	(9)		(84)
Less: Amortization of acquired intangible assets from business combinations (3)	(41)		(68)

Less: Impact of hyperinflation (4)	(4)		(15)
Add: Net gain on disposals (5)	9		—
EBIT from continuing operations	298		151

Interest income	3		7
Interest expense	(40)		(60)
Equity in (income) loss of affiliated companies, net of tax	(19)		(2)
Income from continuing operations before income taxes and equity in income (loss) of affiliated companies	$	242	$	96

(1)Material restructuring programs includes the 2018 Rigid Packaging Restructuring Plan and the 2019 Bemis Integration Plan for the three months ended September 30, 2020 and 2019. Refer to Note 4, "Restructuring Plans," for more information about the Company's restructuring plans.

(2)Material acquisition costs and other includes Bemis transaction related costs and integration costs not qualifying as exit costs for the three months ended September 30, 2020. Material acquisition costs and other includes $58 million amortization of Bemis acquisition related inventory fair value step-up and $26 million of Bemis transaction related costs and integration costs not qualifying as exit costs for the three months ended September 30, 2019.

(3)Amortization of acquired intangible assets from business combinations includes amortization expenses related to all acquired intangible assets from acquisitions impacting the periods presented, including $26 million of sales backlog amortization for the three months ended September 30, 2019 from the Bemis acquisition.

(4)Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso.

(5)Net gain on disposals includes the gain realized upon the disposal of AMVIG and other non-core businesses. Refer to Note 16, "Disposals" for more information about the Company's disposals.

Schedule of Disaggregation of Revenue by Segments

The following tables disaggregates sales, excluding intersegment sales, information by geography in which the Company operates based on manufacturing or selling operation:


Net Sales	Three Months Ended September 30,
	2020						2019
($ in millions)	Flexibles		Rigid Packaging		Total		Flexibles		Rigid Packaging		Total
North America	$	900	$	587	$	1,486	$	908	$	585	$	1,493
Latin America	227		111		338		263		126		389
Europe	894		—		894		886		—		886
Asia Pacific	378		—		378		374		—		374
Net sales	$	2,399	$	698	$	3,097	$	2,430	$	711	$	3,141