Revenue

9 Months Ended

Sep. 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 nine-month periods ended September 30, 2022 and September 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 September 30, 2022 and 2021 disaggregate the Company’s revenue by customer end use:

	Three months ended September 30, 2022
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	612	$	509	$	1,121
Food and other		205		113		318
Non-alcoholic beverages		170		58		228
Reportable segment totals	$	987	$	680	$	1,667
Other						26
Net sales					$	1,693
	Three months ended September 30, 2021
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	561	$	467	$	1,028
Food and other		215		124		339
Non-alcoholic beverages		149		64		213
Reportable segment totals	$	925	$	655	$	1,580
Other						29
Net sales					$	1,609

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

	Nine months ended September 30, 2022
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	1,800	$	1,621	$	3,421
Food and other		617		345		962
Non-alcoholic beverages		481		187		668
Reportable segment totals	$	2,898	$	2,153	$	5,051
Other						112
Net sales					$	5,163
	Nine months ended September 30, 2021
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	1,610	$	1,507	$	3,117
Food and other		627		366		993
Non-alcoholic beverages		415		166		581
Reportable segment totals	$	2,652	$	2,039	$	4,691
Other						79
Net sales					$	4,770