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Business Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Business Segment Information

Summary of business by segment


		Three Months Ended June 30,						Six Months Ended June 30,
($ in millions)		2025			2024			2025			2024

Net sales
Beverage packaging, North and Central America		$	1,613		$	1,469		$	3,076		$	2,872
Beverage packaging, EMEA			1,050			880			1,953			1,690
Beverage packaging, South America			477			422			1,021			904
Reportable segment sales			3,140			2,771			6,050			5,466
Other			198			188			385			367
Net sales		$	3,338		$	2,959		$	6,435		$	5,833

Comparable segment operating earnings (a)
Beverage packaging, North and Central America		$	208		$	210		$	403		$	402
Beverage packaging, EMEA			129			113			225			198
Beverage packaging, South America			51			37			120			92
Reportable segment comparable operating earnings			388			360			748			692
Reconciling items
Other (b)			8			2			(7)			(70)
Business consolidation and other activities			(12)			(60)			(25)			(86)
Amortization of acquired intangibles			(35)			(33)			(68)			(71)
Interest expense			(81)			(68)			(151)			(161)
Debt refinancing and other costs			—			(1)			—			(3)
Earnings before taxes		$	268		$	200		$	497		$	301

(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 $30 million and $21 million for the three months ended June 30, 2025 and 2024, respectively, and $73 million and $117 million for the six months ended June 30, 2025 and 2024, respectively. Undistributed corporate expenses, net, includes corporate interest income of $12 million for the three months ended June 30, 2024, and $1 million and $29 million for the six months ended June 30, 2025 and 2024, respectively. For the three and six months ended June 30, 2024, undistributed corporate expenses, net, includes $3 million and $82 million of incremental compensation cost from the successful sale of the aerospace business, respectively.


		Three Months Ended June 30,						Six Months Ended June 30,
($ in millions)		2025			2024			2025			2024

Depreciation and amortization
Beverage packaging, North and Central America		$	56		$	53		$	112		$	107
Beverage packaging, EMEA			49			46			96			93
Beverage packaging, South America			36			38			72			79
Reportable segment depreciation and amortization			141			137			280			279
Other			14			15			25			31
Depreciation and amortization		$	155		$	152		$	305		$	310