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Segment Reporting (Tables) | 3 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Information About Reportable Segments | The following table presents information about reportable segments. Intersegment sales are not material and therefore are not presented in the table below:
|  |  |  | Three Months Ended September 30,
($ in millions) |  |  |  |  |  | 2025 |  | 2024
Global Flexible Packaging Solutions |  |  |  |  |  | $ | 3,257 |  |  | $ | 2,552 |
Global Rigid Packaging Solutions |  |  |  |  |  | 2,488 |  |  | 801 |
Net sales |  |  |  |  |  | $ | 5,745 |  |  | $ | 3,353 |
Global Flexible Packaging Solutions |  |  |  |  |  | $ | (2,831) |  |  | $ | (2,223) |
Global Rigid Packaging Solutions |  |  |  |  |  | (2,193) |  |  | (739) |
Other |  |  |  |  |  | (34) |  |  | (26) |
Segment expenses and other (1) |  |  |  |  |  | $ | (5,058) |  |  | $ | (2,988) |
Adjusted earnings before interest and taxes ("Adjusted EBIT") |  |  |  |  |  |  |  |
Global Flexible Packaging Solutions |  |  |  |  |  | $ | 426 |  |  | $ | 329 |
Global Rigid Packaging Solutions |  |  |  |  |  | 295 |  |  | 62 |
Other |  |  |  |  |  | (34) |  |  | (26) |
Adjusted EBIT |  |  |  |  |  | 687 |  |  | 365 |
Less: Amortization of acquired intangible assets from business combinations (2) |  |  |  |  |  | (133) |  |  | (39) |
Less: Impact of hyperinflation (3) |  |  |  |  |  | (11) |  |  | (2) |
Less: Transaction costs (4) |  |  |  |  |  | (22) |  |  | — |
Less: Restructuring, integration and related expenses, net (5) |  |  |  |  |  | (53) |  |  | (6) |
Less: Other (6) |  |  |  |  |  | (4) |  |  | (7) |
Interest income |  |  |  |  |  | 15 |  |  | 11 |
Interest expense |  |  |  |  |  | (168) |  |  | (86) |
Equity in (income)/loss of affiliated companies, net of tax |  |  |  |  |  | (2) |  |  | — |
Income before income taxes and equity in (income)/loss of affiliated companies |  |  |  |  |  | $ | 309 |  |  | $ | 236 |
(1)Segment expenses and other includes primarily cost of goods sold, selling, general, and administrative expenses, research and development expenses, other income/(expenses), net, and other non-operating income. (2)Amortization of acquired intangible assets from business combinations includes amortization expense related to all acquired intangible assets from past acquisitions. (3)Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso. (4)Transaction costs includes incremental costs related to the Merger. Refer to Note 4 "Restructuring, Transaction, and Integration Expenses, Net". (5)For the three months ended September 30, 2025, Restructuring, integration and related expenses, net, primarily includes costs incurred in connection with the Berry Plan. For the three months ended September 30, 2024, Restructuring, integration and related expenses, net includes expenses relating to 2023 Restructuring Plan. Refer to Note 5 - "Restructuring" for further information. (6)For the three months ended September 30, 2025, Other includes various expense and income items primarily rela ting to legal matters. F or the three months ended September 30, 2024, Other includes various expense and income items primarily relating to an impairment charge of $4 million (refer to Note 8 - "Fair Value Measurements"), and fair value movements on economic hedges.
Reconciliation of Assets from Segment to Consolidated | The tables below present additional financial information by reportable segments: Capital expenditures for the acquisition of long-lived assets by reportable segment were:
|  | Three Months Ended September 30, |  |
($ in millions) |  | 2025 |  | 2024 |  |  |  |
Global Flexible Packaging Solutions |  | $ | 122 |  |  | $ | 103 |  |  |  |  |
Global Rigid Packaging Solutions |  | 116 |  |  | 41 |  |  |  |  |
Other |  | — |  |  | 1 |  |  |  |  |
Total capital expenditures for the acquisition of long-lived assets |  | $ | 238 |  |  | $ | 145 |  |  |  |  |
Depreciation and amortization on long-lived assets by reportable segment were:
|  | Three Months Ended September 30, |  |
($ in millions) |  | 2025 |  | 2024 |  |  |  |
Global Flexible Packaging Solutions |  | $ | 173 |  |  | $ | 107 |  |  |  |  |
Global Rigid Packaging Solutions |  | 185 |  |  | 31 |  |  |  |  |
Other |  | 4 |  |  | 2 |  |  |  |  |
Total depreciation and amortization on long-lived assets |  | $ | 362 |  |  | $ | 140 |  |  |  |  |
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,
|  | 2025 |  | 2024
($ in millions) |  | Global Flexible Packaging Solutions |  | Global Rigid Packaging Solutions |  | Total |  | Global Flexible Packaging Solutions |  | Global Rigid Packaging Solutions |  | Total
North America |  | $ | 1,544 |  |  | $ | 1,387 |  |  | $ | 2,931 |  |  | $ | 1,032 |  |  | $ | 605 |  |  | $ | 1,637 |
Latin America |  | 267 |  |  | 192 |  |  | 459 |  |  | 271 |  |  | 196 |  |  | 467 |
Europe |  | 1,050 |  |  | 820 |  |  | 1,870 |  |  | 838 |  |  | — |  |  | 838 |
Asia Pacific |  | 396 |  |  | 89 |  |  | 485 |  |  | 411 |  |  | — |  |  | 411 |
Net sales |  | $ | 3,257 |  |  | $ | 2,488 |  |  | $ | 5,745 |  |  | $ | 2,552 |  |  | $ | 801 |  |  | $ | 3,353 |

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- 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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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
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