Revenue

3 Months Ended

Mar. 31, 2021

Revenue

Revenue

2. Revenue

Revenue is recognized at the point in time when obligations under the terms of the Company’s contracts and related purchase orders with its customers are satisfied. This occurs with the transfer of control of glass containers, which primarily takes place when products are shipped from the Company’s manufacturing or warehousing facilities to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods, which includes estimated provisions for rebates, discounts, returns and allowances. Sales, value-added, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company’s payment terms are based on customary business practices and can vary by customer type. The term between invoicing and when payment is due is not significant. Also, the Company elected to account for shipping and handling costs as a fulfillment cost at the time of shipment.

For the three-month periods ended March 31, 2021 and March 31, 2020, the Company had no material bad debt expense, and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheet.

Consistent with the disclosures in Note 1 related to the ANZ sale, Asia Pacific revenue for the three-month period ended March 31, 2020, has been recast to reflect only the revenue of the ANZ businesses. The other businesses that comprised the Asia Pacific segment and that have been retained by the Company have been reclassified to the Other sales line.

The following tables for the three months ended March 31, 2021 and 2020 disaggregate the Company’s revenue by customer end use:

	Three months ended March 31, 2021
	Americas		Europe		Asia Pacific		Total
Alcoholic beverages (beer, wine, spirits)	$	502	$	477	$		$	979
Food and other		209		118				327
Non-alcoholic beverages		126		44				170
Reportable segment totals	$	837	$	639	$	—	$	1,476
Other								24
Net sales							$	1,500
	Three months ended March 31, 2020
	Americas		Europe		Asia Pacific		Total
Alcoholic beverages (beer, wine, spirits)	$	508	$	411	$	96	$	1,015
Food and other		189		105		14		308
Non-alcoholic beverages		134		60		13		207
Reportable segment totals	$	831	$	576	$	123	$	1,530
Other								31
Net sales							$	1,561