XML 49 R34.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Segment Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s business is generally organized by product line and geography. The Company has determined that it has the following reportable segments: Americas Beverage, European Beverage, Asia Pacific and Transit Packaging. Other includes 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. The Company's chief operating decision maker ("CODM") is the Chairman of the Board, President and Chief Executive Officer. Segment income is used by the CODM to allocate resources, including capital expenditures, and to evaluate operating performance against budgets and forecasts. Segment income, which is not a defined term under GAAP, is defined by the Company as income from operations adjusted to exclude intangi bles amortization charges, restructuring and other and the impact of fair value adjustments related to inventory acquired in an acquisition. Segment income includes cost of products sold, depreciation and general selling and administrative expenses. Segment income should not be considered in isolation or as a substitute for net income data 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 operating segments for the three years ended December 31, 2024, 2023 and 2022:
2024 |  |  | Inter- |  |  |  |  |  |
| External |  | segment |  |  |  | Capital |  | Segment
| sales |  | sales |  | Depreciation |  | expenditures |  | income
Americas Beverage | $ | 5,240 |  |  | $ | — |  |  | $ | 128 |  |  | $ | 164 |  |  | $ | 987 |
European Beverage | 2,071 |  |  | — |  |  | 55 |  |  | 133 |  |  | 276 |
Asia Pacific | 1,161 |  |  | — |  |  | 46 |  |  | 21 |  |  | 195 |
Transit Packaging | 2,107 |  |  | 15 |  |  | 43 |  |  | 22 |  |  | 270 |
Total reportable segments | 10,579 |  |  | 15 |  |  | 272 |  |  | 340 |  |  | $ | 1,728 |
Other | 1,222 |  |  | 67 |  |  | 23 |  |  | 42 |  |  |
Corporate and unallocated items | — |  |  | — |  |  | 2 |  |  | 21 |  |  |
Total | $ | 11,801 |  |  | $ | 82 |  |  | $ | 297 |  |  | $ | 403 |  |  |
2023 |  |  | Inter- |  |  |  |  |  |
| External |  | segment |  |  |  | Capital |  | Segment
| sales |  | sales |  | Depreciation |  | expenditures |  | income
Americas Beverage | $ | 5,147 |  |  | $ | — |  |  | $ | 149 |  |  | $ | 296 |  |  | $ | 876 |
European Beverage | 1,939 |  |  | — |  |  | 56 |  |  | 291 |  |  | 199 |
Asia Pacific | 1,297 |  |  | — |  |  | 63 |  |  | 66 |  |  | 154 |
Transit Packaging | 2,256 |  |  | 49 |  |  | 44 |  |  | 26 |  |  | 331 |
Total reportable segments | 10,639 |  |  | 49 |  |  | 312 |  |  | 679 |  |  | $ | 1,560 |
Other | 1,371 |  |  | 144 |  |  | 22 |  |  | 76 |  |  |
Corporate and unallocated items | — |  |  | — |  |  | 2 |  |  | 38 |  |  |
Total | $ | 12,010 |  |  | $ | 193 |  |  | $ | 336 |  |  | $ | 793 |  |  |
2022 |  |  | Inter- |  |  |  |  |  |
| External |  | segment |  |  |  | Capital |  | Segment
| sales |  | sales |  | Depreciation |  | expenditures |  | income
Americas Beverage | $ | 5,126 |  |  | $ | 7 |  |  | $ | 128 |  |  | $ | 380 |  |  | $ | 742 |
European Beverage | 2,114 |  |  | 89 |  |  | 49 |  |  | 283 |  |  | 123 |
Asia Pacific | 1,615 |  |  | — |  |  | 62 |  |  | 51 |  |  | 172 |
Transit Packaging | 2,545 |  |  | 36 |  |  | 41 |  |  | 64 |  |  | 281 |
Total reportable segments | 11,400 |  |  | 132 |  |  | 280 |  |  | 778 |  |  | $ | 1,318 |
Other | 1,543 |  |  | 103 |  |  | 18 |  |  | 61 |  |  |
Corporate and unallocated items | — |  |  | — |  |  | 3 |  |  | — |  |  |
Total | $ | 12,943 |  |  | $ | 235 |  |  | $ | 301 |  |  | $ | 839 |  |  |
The company does not disclose total assets by segment as it is not provided to the chief operating decision maker. Intersegment sales primarily include sales of cans, ends and parts and equipment used in the manufacturing process. Corporate and unallocated items include corporate and administrative costs, research and development, and unallocated items such as stock-based compensation and insurance costs. A reconciliation of segment income of reportable segments to income before income taxes for the three years ended December 31, 2024, 2023 and 2022 follows:
| 2024 |  | 2023 |  | 2022
Segment income of reportable segments | $ | 1,728 |  |  | $ | 1,560 |  |  | $ | 1,318 |
Other | 82 |  |  | 117 |  |  | 240 |
Corporate and unallocated items | (165) |  |  | (131) |  |  | (115) |
Restructuring and other | (75) |  |  | (114) |  |  | 52 |
Amortization of intangibles | (151) |  |  | (163) |  |  | (159) |
Loss from early extinguishments of debt | (1) |  |  | (1) |  |  | (11) |
Other pension and postretirement | (546) |  |  | (49) |  |  | 16 |
Gain on sale of equity method investment | 275 |  |  | — |  |  | — |
Interest expense | (452) |  |  | (436) |  |  | (284) |
Interest income | 82 |  |  | 53 |  |  | 15 |
Foreign exchange | (34) |  |  | (41) |  |  | (16) |
Income before income taxes and equity in net earnings of affiliates | $ | 743 |  |  | $ | 795 |  |  | $ | 1,056 |
For the years ended December 31, 2023 and 2022, intercompany profit of $13 and $19 was eliminated within segment income of other. For the year ended December 31, 2024, two customers each accounted for 12% of the Company's consolidated net sales. For the years ended December 31, 2023 and 2022, the same two customers each accounted for 12% and 11%, of the Company's consolidated net sales. These customers are global beverage companies served by the Company's beverage operations in the Americas, Europe and Asia. Sales by major product were:
| 2024 |  | 2023 |  | 2022
Metal beverage cans and ends | $ | 7,899 |  |  | $ | 7,514 |  |  | $ | 8,096 |
Transit packaging | 2,107 |  |  | 2,256 |  |  | 2,545 |
Metal food cans and ends | 887 |  |  | 1,013 |  |  | 1,099 |
Other products | 461 |  |  | 701 |  |  | 598 |
Other metal packaging | 447 |  |  | 526 |  |  | 605 |
Total | $ | 11,801 |  |  | $ | 12,010 |  |  | $ | 12,943 |
The following table provides sales and long-lived asset information for the major countries in which the Company operates. Long-lived assets comprises property, plant and equipment.
| Net Sales |  | Long-Lived Assets
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023
United States | $ | 4,419 |  |  | $ | 4,482 |  |  | $ | 4,740 |  |  | $ | 1,667 |  |  | $ | 1,694 |
Mexico | 1,053 |  |  | 1,129 |  |  | 1,080 |  |  | 534 |  |  | 560 |
Brazil | 1,061 |  |  | 991 |  |  | 1,011 |  |  | 478 |  |  | 500 |
Canada | 744 |  |  | 823 |  |  | 893 |  |  | 98 |  |  | 99 |
United Kingdom | 398 |  |  | 494 |  |  | 521 |  |  | 502 |  |  | 466 |
Vietnam | 387 |  |  | 423 |  |  | 547 |  |  | 293 |  |  | 317 |
Other | 3,739 |  |  | 3,668 |  |  | 4,151 |  |  | 1,355 |  |  | 1,426 |
Total | $ | 11,801 |  |  | $ | 12,010 |  |  | $ | 12,943 |  |  | $ | 4,927 |  |  | $ | 5,062 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration