Revenue

6 Months Ended

Jun. 30, 2022

Revenue

Revenue

2. Revenue

Revenue is recognized at a 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- and six-month periods ended June 30, 2022 and June 30, 2021, 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.

The following tables for the three months ended June 30, 2022 and 2021 disaggregate the Company’s revenue by customer end use:

	Three months ended June 30, 2022
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	613	$	576	$	1,189
Food and other		199		122		321
Non-alcoholic beverages		159		67		226
Reportable segment totals	$	971	$	765	$	1,736
Other						42
Net sales					$	1,778
	Three months ended June 30, 2021
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	546	$	564	$	1,110
Food and other		204		123		327
Non-alcoholic beverages		140		58		198
Reportable segment totals	$	890	$	745	$	1,635
Other						25
Net sales					$	1,660

The following tables for the six months ended June 30, 2022 and 2021 disaggregate the Company’s revenue by customer end use:

	Six months ended June 30, 2022
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	1,189	$	1,113	$	2,302
Food and other		413		232		645
Non-alcoholic beverages		310		129		439
Reportable segment totals	$	1,912	$	1,474	$	3,386
Other						83
Net sales					$	3,469
	Six months ended June 30, 2021
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	1,049	$	1,040	$	2,089
Food and other		413		242		655
Non-alcoholic beverages		265		102		367
Reportable segment totals	$	1,727	$	1,384	$	3,111
Other						50
Net sales					$	3,161