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Segment Information | 6 Months Ended
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Jun. 30, 2026
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 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 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.
Three Months Ended June 30, 2026
| External |  | Intersegment |  |  |  | Capital |  | Segment
| sales |  | sales |  | Depreciation |  | expenditures |  | income
Americas Beverage | $ | 1,699 |  |  | $ | — |  |  | $ | 36 |  |  | $ | 19 |  |  | $ | 265 |
European Beverage | 735 |  |  | — |  |  | 16 |  |  | 80 |  |  | 107 |
Asia Pacific | 331 |  |  | — |  |  | 10 |  |  | 4 |  |  | 53 |
Transit Packaging | 537 |  |  | 5 |  |  | 11 |  |  | 6 |  |  | 68 |
Total reportable segments | 3,302 |  |  | 5 |  |  | 73 |  |  | 109 |  |  | $ | 493 |
Other | 366 |  |  | 33 |  |  | 7 |  |  | 7 |  |  |
Corporate and unallocated items | — |  |  | — |  |  | 1 |  |  | — |  |  |
Total | $ | 3,668 |  |  | $ | 38 |  |  | $ | 81 |  |  | $ | 116 |  |  |
Three Months Ended June 30, 2025
| External |  | Intersegment |  |  |  | Capital |  | Segment
| sales |  | sales |  | Depreciation |  | expenditures |  | income
Americas Beverage | $ | 1,405 |  |  | $ | — |  |  | $ | 33 |  |  | $ | 18 |  |  | $ | 268 |
European Beverage | 635 |  |  | — |  |  | 15 |  |  | 22 |  |  | 97 |
Asia Pacific | 256 |  |  | — |  |  | 11 |  |  | 4 |  |  | 50 |
Transit Packaging | 526 |  |  | 4 |  |  | 10 |  |  | 7 |  |  | 72 |
Total reportable segments | 2,822 |  |  | 4 |  |  | 69 |  |  | 51 |  |  | $ | 487 |
Other | 327 |  |  | 15 |  |  | 6 |  |  | 3 |  |  |
Corporate and unallocated items | — |  |  | — |  |  | 1 |  |  | 2 |  |  |
Total | $ | 3,149 |  |  | $ | 19 |  |  | $ | 76 |  |  | $ | 56 |  |  |
Six Months Ended June 30, 2026
| External |  | Intersegment |  |  |  | Capital |  | Segment
| sales |  | sales |  | Depreciation |  | expenditures |  | income
Americas Beverage | $ | 3,229 |  |  | $ | — |  |  | $ | 71 |  |  | $ | 43 |  |  | $ | 475 |
European Beverage | 1,323 |  |  | — |  |  | 32 |  |  | 128 |  |  | 193 |
Asia Pacific | 634 |  |  | — |  |  | 20 |  |  | 7 |  |  | 105 |
Transit Packaging | 1,033 |  |  | 10 |  |  | 22 |  |  | 13 |  |  | 121 |
Total reportable segments | 6,219 |  |  | 10 |  |  | 145 |  |  | 191 |  |  | $ | 894 |
Other | 708 |  |  | 63 |  |  | 14 |  |  | 11 |  |  |
Corporate and unallocated items | — |  |  | — |  |  | 2 |  |  | 1 |  |  |
Total | $ | 6,927 |  |  | $ | 73 |  |  | $ | 161 |  |  | $ | 203 |  |  |
Six Months Ended June 30, 2025
| External |  | Intersegment |  |  |  | Capital |  | Segment
| sales |  | sales |  | Depreciation |  | expenditures |  | income
Americas Beverage | $ | 2,725 |  |  | $ | — |  |  | $ | 64 |  |  | $ | 27 |  |  | $ | 504 |
European Beverage | 1,147 |  |  | — |  |  | 29 |  |  | 38 |  |  | 164 |
Asia Pacific | 535 |  |  | — |  |  | 22 |  |  | 4 |  |  | 97 |
Transit Packaging | 1,008 |  |  | 8 |  |  | 21 |  |  | 15 |  |  | 132 |
Total reportable segments | 5,415 |  |  | 8 |  |  | 136 |  |  | 84 |  |  | $ | 897 |
Other | 621 |  |  | 32 |  |  | 13 |  |  | 3 |  |  |
Corporate and unallocated items | — |  |  | — |  |  | 2 |  |  | 2 |  |  |
Total | $ | 6,036 |  |  | $ | 40 |  |  | $ | 151 |  |  | $ | 89 |  |  |
The Company does not disclose total assets by segment as it is not provided to the chief operating decision maker. The primary sources of revenue included in Other are the Company's North America tinplate businesses: food can, aerosol can, and closures, and beverage tooling and equipment operations in the U.S. and U.K. Corporate and unallocated items include corporate and administrative costs, research and development, and unallocated items such as stock-based compensation and insurance costs. Intersegment sales primarily include equipment and parts used in the manufacturing process. A reconciliation of segment income of reportable segments to income before income taxes is as follows:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Segment income of reportable segments | $ | 493 |  |  | $ | 487 |  |  | $ | 894 |  |  | $ | 897 |
Segment income of other | 52 |  |  | 35 |  |  | 99 |  |  | 64 |
Corporate and unallocated items | (44) |  |  | (46) |  |  | (87) |  |  | (87) |
Restructuring and other, net | (2) |  |  | (47) |  |  | (4) |  |  | (45) |
Amortization of intangibles | (35) |  |  | (38) |  |  | (73) |  |  | (73) |
Loss from early extinguishments of debt | — |  |  | (1) |  |  | (3) |  |  | (1) |
Other pension and postretirement | (5) |  |  | 1 |  |  | (10) |  |  | (4) |
Interest expense | (105) |  |  | (103) |  |  | (202) |  |  | (202) |
Interest income | 14 |  |  | 14 |  |  | 26 |  |  | 27 |
Foreign exchange | (3) |  |  | (9) |  |  | — |  |  | (11) |
Income from operations before taxes and equity in net earnings of affiliates | $ | 365 |  |  | $ | 293 |  |  | $ | 640 |  |  | $ | 565 |

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