XML 44 R33.htm IDEA: XBRL DOCUMENT v3.23.3

Segments (Tables)

3 Months Ended

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

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration