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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
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, 2022$794 $505 $282 $298 $1,879 
Acquisition of business (1)
— — 16 — 16 
Balance as of December 31, 2023794 505 298 298 1,895 
Movements— — — — — 
Balance as of December 31, 2024$794 $505 $298 $298 $1,895 
(1) During the year ended December 31, 2023, we recognized $16 million of goodwill associated with the acquisition of Atacama Manufacturing Inc. The acquisition did not have a material impact on our financial statements.
Intangible assets, net consisted of the following:
As of December 31, 2024As of December 31, 2023
Gross
carrying
amount
Accumulated
amortization 		Net
Gross
carrying
amount
Accumulated
amortization 		Net
(in millions)
Finite-lived intangible assets      
Customer relationships$580 $(458)$122 $580 $(429)$151 
Trade names25 (25)— 25 (25)— 
Total finite-lived intangible assets605 (483)122 605 (454)151 
Indefinite-lived intangible assets      
Trade names850 — 850 850 — 850 
Total intangible assets$1,455 $(483)$972 $1,455 $(454)$1,001 
Amortization expense for intangible assets was $29 million, $30 million and $31 million for the years ended December 31, 2024, 2023 and 2022, respectively, and has been recognized in selling, general and administrative expenses.
Estimated annual amortization for intangible assets over the next five calendar years are as follows:
(in millions)20252026202720282029
Estimated annual amortization$(29)$(22)$(21)$(18)$(17)