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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Reportable Segment

Goodwill by reportable segment was as follows:

 

 

 

Reynolds

Cooking &

Baking

 

 

Hefty Waste

& Storage

 

 

Hefty

Tableware

 

 

Presto

Products

 

 

Total

 

 

 

(in millions)

 

Balance as of December 31, 2019

 

$

794

 

 

$

505

 

 

$

282

 

 

$

298

 

 

$

1,879

 

Movements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2020

 

 

794

 

 

 

505

 

 

 

282

 

 

 

298

 

 

 

1,879

 

Movements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2021

 

$

794

 

 

$

505

 

 

$

282

 

 

$

298

 

 

$

1,879

 

Schedule of Intangible Assets, Net

Intangible assets, net consisted of the following:

 

 

 

As of December 31, 2021

 

 

As of December 31, 2020

 

 

 

Gross

carrying

amount

 

 

Accumulated amortization

 

 

Net

 

 

Gross

carrying

amount

 

 

Accumulated amortization

 

 

Net

 

 

 

(in millions)

 

Finite-lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

580

 

 

$

(371

)

 

$

209

 

 

$

580

 

 

$

(342

)

 

$

238

 

Trade names

 

 

25

 

 

 

(23

)

 

 

2

 

 

 

25

 

 

 

(21

)

 

 

4

 

Total finite-lived intangible assets

 

 

605

 

 

 

(394

)

 

 

211

 

 

 

605

 

 

 

(363

)

 

 

242

 

Indefinite-lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

850

 

 

 

 

 

 

850

 

 

 

850

 

 

 

 

 

 

850

 

Total intangible assets

 

$

1,455

 

 

$

(394

)

 

$

1,061

 

 

$

1,455

 

 

$

(363

)

 

$

1,092