Revenue

12 Months Ended

Dec. 31, 2024

Revenue

Revenue

3. 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 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 years ended December 31, 2024 and 2023, the Company had no material bad debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Consolidated Balance Sheet. For the years ended December 31, 2024, 2023 and 2022, revenue recognized from prior periods (for example, due to changes in transaction price) was not material. The Company recognized revenue of approximately $40 million and $42 million from sales to affiliates in 2024 and 2023, respectively.

The following table for the year ended December 31, 2024 disaggregates the Company’s revenue by customer end use:

	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	2,000	$	2,041	$	4,041
Food and other		872		480		1,352
Non-alcoholic beverages		712		299		1,011
Reportable segment totals	$	3,584	$	2,820	$	6,404
Other						127
Net sales					$	6,531

The following table for the year ended December 31, 2023 disaggregates the Company’s revenue by customer end use:

	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	2,268	$	2,320	$	4,588
Food and other		865		508		1,373
Non-alcoholic beverages		732		289		1,021
Reportable segment totals	$	3,865	$	3,117	$	6,982
Other						123
Net sales					$	7,105

The following table for the year ended December 31, 2022 disaggregates the Company’s revenue by customer end use:

	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	2,367	$	2,169	$	4,536
Food and other		832		467		1,299
Non-alcoholic beverages		636		242		878
Reportable segment totals	$	3,835	$	2,878	$	6,713
Other						143
Net sales					$	6,856