GOODWILL AND OTHER INTANGIBLES (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill Balances

The following table presents changes in goodwill balances as allocated to each business segment for the nine months ended September 30, 2025:

In millions	Packaging Solutions North America			Packaging Solutions EMEA			Total
Balance as of January 1, 2025
Goodwill	$	3,334		$	76		$	3,410
Accumulated impairment losses	(296)			(76)			(372)
Total	3,038			—			3,038
Goodwill additions/reductions (a)	867		(c)	3,362		(c)	4,229
Currency translation and other (b)	1			407			408
Balance as of September 30, 2025
Goodwill	3,965			3,845			7,810
Accumulated impairment losses	(59)			(76)			(135)
Total	$	3,906		$	3,769		$	7,675

(a) Includes write-offs of previously impaired goodwill of $237 million and accumulated impairment losses of $(237) million. 

(b) Represents the effects of foreign currency translations and reclassifications.

(c) Reflects the acquisition of DS Smith. See Note 8 - Acquisitions for further details.

Schedule of Identifiable Intangible Assets

Identifiable intangible assets comprised of the following: 

	September 30, 2025							December 31, 2024
In millions	Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets			Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets
Customer relationships and lists	$	4,131	$	481	$	3,650		$	394	$	329	$	65
Tradenames, patents and trademarks, and developed technology	471		74		397			57		57		—
Software	126		22		104		(a)	12		12		—
Land and water rights	8		2		6			8		2		6
Other	20		5		15			3		2		1
Total	$	4,756	$	584	$	4,172		$	474	$	402	$	72

(a) Of this balance, $64 million has been placed in service and $40 million is in development.

Schedule of Amortization Expense of Intangible Assets

The Company recognized the following amounts as amortization expense related to intangible assets: 

	Three Months Ended September 30,				Nine Months Ended September 30,
In millions	2025		2024		2025		2024
Amortization expense related to intangible assets	$	73	$	6	$	190	$	19

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Based on current intangibles subject to amortization, estimated amortization expense for each of the succeeding years is as follows:

In millions	Amortization Expense
2025 (three months)	$	66
2026	292
2027	274
2028	270
2029	243
Thereafter	3,006
Total	$	4,151