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Segments (Tables) | 3 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
Schedule of Information About Reportable Segments | The following table presents information about reportable segments:
|  | Three Months Ended September 30, |  |
($ in millions) |  | 2023 |  | 2022 |  |  |  |
Flexibles |  | $ | 2,568 |  |  | $ | 2,779 |  |  |  |  |
Rigid Packaging |  | 875 |  |  | 933 |  |  |  |  |
Other |  | — |  |  | — |  |  |  |  |
Net sales |  | $ | 3,443 |  |  | $ | 3,712 |  |  |  |  |
Adjusted earnings before interest and taxes ("Adjusted EBIT") |  |  |  |  |  |  |  |
Flexibles |  | $ | 322 |  |  | $ | 353 |  |  |  |  |
Rigid Packaging |  | 62 |  |  | 66 |  |  |  |  |
Other |  | (26) |  |  | (27) |  |  |  |  |
Adjusted EBIT |  | 358 |  |  | 392 |  |  |  |  |
Less: Amortization of acquired intangible assets from business combinations (1) |  | (41) |  |  | (40) |  |  |  |  |
Less: Impact of hyperinflation (2) |  | (17) |  |  | (8) |  |  |  |  |
Less: Russia-Ukraine conflict impacts (3) |  | (28) |  |  | (3) |  |  |  |  |
Add/(Less): Other (4) |  | (4) |  |  | 1 |  |  |  |  |
Interest income |  | 10 |  |  | 9 |  |  |  |  |
Interest expense |  | (85) |  |  | (59) |  |  |  |  |
Equity in loss of affiliated companies, net of tax |  | 1 |  |  | — |  |  |  |  |
Income before income taxes and equity in loss of affiliated companies |  | $ | 194 |  |  | $ | 292 |  |  |  |  |
(1)Amortization of acquired intangible assets from business combinations includes amortization expenses related to all acquired intangible assets from past acquisitions. (2)Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso. (3)Russia-Ukraine conflict impacts include incremental costs and restructuring and related expenses incurred in connection with the conflict and the related sale of the Russian business. (4)Other includes various expense and income items relating to acquisitions, certain litigation reserve settlements, and fair value movements on economic hedges.
Schedule of Disaggregation of Revenue by Segments | The following table disaggregates net sales by geography in which the Company operates based on manufacturing or selling operations:
|  | Three Months Ended September 30,
|  | 2023 |  | 2022
($ in millions) |  | Flexibles |  | Rigid Packaging |  | Total |  | Flexibles |  | Rigid Packaging |  | Total
North America |  | $ | 1,024 |  |  | $ | 676 |  |  | $ | 1,700 |  |  | $ | 1,106 |  |  | $ | 726 |  |  | $ | 1,832 |
Latin America |  | 285 |  |  | 199 |  |  | 484 |  |  | 285 |  |  | 207 |  |  | 492 |
Europe |  | 858 |  |  | — |  |  | 858 |  |  | 955 |  |  | — |  |  | 955 |
Asia Pacific |  | 401 |  |  | — |  |  | 401 |  |  | 433 |  |  | — |  |  | 433 |
Net sales |  | $ | 2,568 |  |  | $ | 875 |  |  | $ | 3,443 |  |  | $ | 2,779 |  |  | $ | 933 |  |  | $ | 3,712 |

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