Revenue

3 Months Ended

Mar. 31, 2025

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-month periods ended March 31, 2025 and 2024, the Company had no material bad debt expense, and there were no material contract assets, contract liabilities or deferred contract costs recorded in the Condensed Consolidated Balance Sheets. For the three-month periods ended March 31, 2025 and 2024, revenue recognized from prior periods was not material.

The following tables for the three months ended March 31, 2025 and 2024 disaggregate the Company’s revenue by customer end use:

	Three months ended March 31, 2025
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	503	$	481	$	984
Food and other		217		111		328
Non-alcoholic beverages		153		75		228
Reportable segment totals	$	873	$	667	$	1,540
Other						27
Net sales					$	1,567
	Three months ended March 31, 2024
	Americas		Europe		Total
Alcoholic beverages (beer, wine, spirits)	$	468	$	517	$	985
Food and other		214		120		334
Non-alcoholic beverages		172		72		244
Reportable segment totals	$	854	$	709	$	1,563
Other						30
Net sales					$	1,593