Revenue

6 Months Ended

Jun. 30, 2023

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. Amounts billed to customers related to shipping and handling or other pass-through items are included in net sales in the Condensed Consolidated Results of Operations. 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, 2023 and June 30, 2022, 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 Sheets.

The following tables for the three months ended June 30, 2023 and 2022 disaggregate the Company’s revenue by customer end use:

	Three months ended June 30, 2023
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	585	$	647	$	1,232
Food and other		226		130		356
Non-alcoholic beverages		185		86		271
Reportable segment totals	$	996	$	863	$	1,859
Other						31
Net sales					$	1,890
	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

The following tables for the six months ended June 30, 2023 and 2022 disaggregate the Company’s revenue by customer end use:

	Six months ended June 30, 2023
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	1,194	$	1,251	$	2,445
Food and other		444		256		700
Non-alcoholic beverages		358		155		513
Reportable segment totals	$	1,996	$	1,662	$	3,658
Other						63
Net sales					$	3,721
	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