Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Business Segment Information

Schedule of major customers

	2024		2023		2022
Anheuser-Busch InBev and affiliates	16	%	15	%	15	%
Coca-Cola Bottlers' Sales & Services Company LLC and affiliates	13	%	13	%	13	%

Summary of net sales and long lived assets by geographic area

($ in millions)	U.S.		Brazil		Other		Consolidated
2024	$	5,478	$	1,418	$	4,899	$	11,795
2023		5,872		1,408		4,782		12,062
2022		6,510		1,450		5,412		13,372

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

($ in millions)	U.S.		Brazil		Other		Consolidated
As of December 31, 2024	$	3,215	$	1,113	$	3,207	$	7,535
As of December 31, 2023		3,434		1,274		3,361		8,069

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

Summary of business by segment

	Years Ended December 31,
($ in millions)	2024		2023		2022
Net sales
Beverage packaging, North and Central America	$	5,619	$	5,963	$	6,696
Beverage packaging, EMEA		3,466		3,395		3,854
Beverage packaging, South America		1,951		1,960		2,108
Reportable segment sales		11,036		11,318		12,658
Other		759		744		714
Net sales	$	11,795	$	12,062	$	13,372
Comparable segment operating earnings (a)
Beverage packaging, North and Central America	$	747	$	710	$	642
Beverage packaging, EMEA		416		354		358
Beverage packaging, South America		296		266		275
Reportable segment comparable operating earnings		1,459		1,330		1,275
Reconciling items
Other (b)		(69)		12		(25)
Business consolidation and other activities		(420)		(133)		(71)
Amortization of acquired intangibles		(139)		(135)		(135)
Interest expense		(293)		(460)		(313)
Debt refinancing and other costs		(3)		—		(18)
Earnings before taxes	$	535	$	614	$	713

(a) The difference between reportable segment net sales and comparable operating earnings is comprised of other segment items. Other segment items includes cost of sales, depreciation and amortization, selling, general and administrative and interest income amounts. The CODM does not receive or use these amounts at the reportable segment level. However, the CODM is provided these amounts at a consolidated level to manage operations.

(b) Includes undistributed corporate expenses, net, of $175 million, $74 million and $82 million for the years ended December 2024, 2023 and 2022, respectively. For the year ended December 2024, undistributed corporate expenses, net, includes $82 million of incremental compensation cost from the successful sale of the aerospace business. For the year ended December 2024, undistributed corporate expenses, net, includes $42 million of corporate interest income.

	Years Ended December 31,
($ in millions)	2024		2023		2022
Depreciation and amortization (a)
Beverage packaging, North and Central America	$	214	$	220	$	219
Beverage packaging, EMEA		187		178		185
Beverage packaging, South America		148		145		143
Reportable segment depreciation and amortization		549		543		547
Other		62		62		47
Depreciation and amortization	$	611	$	605	$	594

(a) Includes amortization of acquired Rexam intangibles.