XML 35 R24.htm IDEA: XBRL DOCUMENT v3.21.2
Segment Information
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company evaluates performance and allocates resources based on segment income, which is not a defined term under GAAP. The Company defines segment income as income from operations adjusted to exclude intangibles amortization charges, provisions for asbestos and restructuring and other, and the impact of fair value adjustments to inventory acquired in an acquisition.

Segment income should not be considered in isolation or as a substitute for net income prepared in accordance with GAAP and may not be comparable to calculations of similarly titled measures by other companies.     

The tables below present information about the Company's operating segments.
 External SalesExternal Sales
Three Months EndedNine Months Ended
 September 30,September 30,
 2021202020212020
Americas Beverage$1,151 $960 $3,240 $2,608 
European Beverage513 418 1,381 1,094 
Asia Pacific280 281 941 852 
Transit Packaging 644 511 1,838 1,495 
Total reportable segments2,588 2,170 7,400 6,049 
Other segments332 319 940 883 
Total$2,920 $2,489 $8,340 $6,932 

The primary sources of revenue included in other segments are the Company's food can, aerosol can, and closures businesses in North America, and beverage tooling and equipment operations in the U.S. and U.K.


 Intersegment SalesIntersegment Sales
Three Months EndedNine Months Ended
 September 30,September 30,
 2021202020212020
European Beverage$36 $9 $108 $10 
Transit Packaging7 3 20 10 
Total reportable segments43 12 128 20 
Other segments38 12 98 66 
Total$81 $24 $226 $86 

Intersegment sales primarily include sales of ends and components used to manufacture cans, such as printed and coated metal, as well as parts and equipment used in the manufacturing process.

 Segment IncomeSegment Income
Three Months EndedNine Months Ended
 September 30,September 30,
 2021202020212020
Americas Beverage$190 $193 $575 $456 
European Beverage76 76 216 152 
Asia Pacific32 41 131 125 
Transit Packaging83 72 235 189 
Total reportable segments$381 $382 $1,157 $922 
    
A reconciliation of segment income of reportable segments to income before income taxes is as follows:
Three Months EndedNine Months Ended
 September 30,September 30,
 2021202020212020
Segment income of reportable segments$381 $382 $1,157 $922 
Segment income of other segments39 32 111 81 
Corporate and unallocated items(41)(47)(125)(121)
Restructuring and other11 (11)42 (20)
Amortization of intangibles(42)(41)(125)(121)
Other pension and postretirement1 1 4 (42)
Interest expense(66)(69)(203)(220)
Interest income2 2 5 7 
Foreign exchange— (1)1 16 
Income from continuing operations before taxes$285 $248 $867 $502 

For the three and nine months ended September 30, 2021, intercompany profits of $4 and $8 were eliminated within segment income of other segments.

For the three and nine months ended September 30, 2020, intercompany profits of less than $1 and $5 were eliminated within segment income of other segments.

Corporate and unallocated items includes corporate and division administrative costs, technology costs, and unallocated items such as stock-based compensation.