Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Business Segment Information

Schedule of major customers

	2023		2022		2021
U.S. Government	14	%	12	%	13	%
Anheuser-Busch InBev and affiliates	13	%	13	%	12	%
Coca-Cola Bottlers' Sales & Services Company LLC and affiliates	11	%	11	%	10	%

Summary of net sales and long lived assets by geographic area

($ in millions)	U.S.		Brazil		Other		Consolidated
2023	$	7,839	$	1,408	$	4,782	$	14,029
2022		8,487		1,450		5,412		15,349
2021		7,284		1,458		5,069		13,811

(a) Revenue is attributed based on origin of sale and includes intercompany eliminations.

($ in millions)	U.S.		Brazil		Other		Consolidated
As of December 31, 2023	$	4,186	$	1,274	$	3,361	$	8,821
As of December 31, 2022		4,316		1,193		3,259		8,768

(a) Long-lived assets exclude goodwill and intangible assets.

Summary of business by segment

	Years Ended December 31,
($ in millions)	2023		2022		2021
Net sales
Beverage packaging, North and Central America	$	5,963	$	6,696	$	5,856
Beverage packaging, EMEA		3,395		3,854		3,509
Beverage packaging, South America		1,960		2,108		2,016
Aerospace		1,967		1,977		1,911
Reportable segment sales		13,285		14,635		13,292
Other		744		714		519
Net sales	$	14,029	$	15,349	$	13,811
Comparable operating earnings
Beverage packaging, North and Central America	$	710	$	642	$	681
Beverage packaging, EMEA		354		358		452
Beverage packaging, South America		266		275		348
Aerospace		219		170		169
Reportable segment comparable operating earnings		1,549		1,445		1,650
Reconciling items
Other (a)		12		(25)		(65)
Business consolidation and other activities		(153)		(71)		(142)
Amortization of acquired intangibles		(135)		(135)		(152)
Earnings before interest and taxes		1,273		1,214		1,291
Interest expense		(459)		(312)		(270)
Debt refinancing and other costs		—		(18)		(13)
Total interest expense		(459)		(330)		(283)
Earnings before taxes	$	814	$	884	$	1,008

(a) Includes undistributed corporate expenses, net, of $74 million, $82 million and $72 million for the years ended December 2023, 2022 and 2021, respectively.

	Years Ended December 31,
($ in millions)	2023		2022		2021
Depreciation and amortization (a)
Beverage packaging, North and Central America	$	220	$	219	$	200
Beverage packaging, EMEA		178		185		223
Beverage packaging, South America		145		143		141
Aerospace		81		78		65
Reportable segment depreciation and amortization		624		625		629
Other		62		47		71
Depreciation and amortization	$	686	$	672	$	700
Capital expenditures
Beverage packaging, North and Central America	$	311	$	621	$	697
Beverage packaging, EMEA		378		458		305
Beverage packaging, South America		129		267		334
Aerospace		106		142		198
Reportable segment capital expenditures		924		1,488		1,534
Other		121		163		192
Capital expenditures	$	1,045	$	1,651	$	1,726

(a) Includes amortization of acquired Rexam intangibles.