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Income taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision For Taxes on Income

The provision for taxes on income for the years ended December 31 consists of the following:

			2024						2023						2022
Pretax income
Domestic			$	(35,733)					$	280,916					$	257,189
Foreign			99,219						208,111						202,745
Total pretax income			$	63,486					$	489,027					$	459,934
Current
Federal			$	3,693					$	54,319					$	34,157
State			1,916						11,282						10,391
Foreign			57,034						63,617						61,228
Total current			$	62,643					$	129,218					$	105,776
Deferred
Federal			$	(34,828)					$	(3,307)					$	(1,884)
State			(9,837)						(1,646)						(3,563)
Foreign			(12,469)						(4,535)						(4,598)
Total deferred			$	(57,134)					$	(9,488)					$	(10,045)
Total taxes			$	5,509					$	119,730					$	95,731

Schedule of Deferred Tax Liabilities/(Assets)

Deferred tax (liabilities)/assets are comprised of the following at December 31:

			2024						2023
Property, plant and equipment			$	(266,278)					$	(137,880)
Intangibles			(545,330)						(119,225)
Leases			(76,225)						(48,832)
Outside basis in Metal Packaging			(68,649)						(68,867)
Gross deferred tax liabilities			$	(956,482)					$	(374,804)
Retiree health benefits			$	245					$	513
Foreign loss carryforwards			79,314						62,250
U.S. Federal loss and credit carryforwards			34,082						39,131
Capital loss carryforwards			3,755						3,817
U.S. State loss and credit carryforwards			26,181						21,321
Capitalized research and development costs			103,043						87,743
Employee benefits			56,192						51,829
Leases			82,031						50,704
Accrued liabilities and other assets			71,370						58,699
Gross deferred tax assets			$	456,213					$	376,007
Valuation allowance on deferred tax assets			$	(81,496)					$	(70,661)
Total deferred taxes, net1			$	(581,765)					$	(69,458)

1 Total deferred taxes, net includes $(15,666) and $(6,228) reclassified to discontinued operations on the Consolidated Balance Sheets at December 31, 2024 and 2023, respectively. These amounts include valuation allowance on deferred tax assets of $(4,628) and $(4,395) at December 31, 2024 and 2023, respectively.

Reconciliation of U.S. Federal Statutory Tax Rate to Actual Consolidated Tax Expense

A reconciliation of the U.S. federal statutory tax rate to the actual provision for/(benefit from) income taxes is as follows:

			2024												2023												2022
Statutory tax rate			$	13,332					21.0		%				$	102,696					21.0		%				$	96,563					21.0		%
State income taxes, net of federal tax benefit			(883)						(1.4)		%				12,263						2.5		%				10,204						2.2		%
Valuation allowance			7,763						12.2		%				4,486						0.9		%				(10,477)						(2.3)		%
Tax examinations including change in reserve for uncertain tax positions			(8,613)						(13.6)		%				1,819						0.4		%				296						0.1		%
Adjustments to prior year deferred taxes			(9,129)						(14.4)		%				(2,489)						(0.5)		%				(2,110)						(0.5)		%
Foreign earnings taxed at other than U.S. rates			12,271						19.3		%				13,108						2.7		%				14,613						3.2		%
Divestiture of business			(2,954)						(4.7)		%				464						0.1		%				—						—		%
Effect of tax rate changes			(1,552)						(2.4)		%				387						0.1		%				(2,151)						(0.5)		%
Foreign withholding taxes			5,344						8.4		%				4,591						0.9		%				4,643						1.0		%
Tax credits			(11,834)						(18.6)		%				(18,848)						(3.9)		%				(14,077)						(3.1)		%
Global intangible low-taxed income (GILTI)			(5,604)						(8.8)		%				4,853						1.0		%				4,345						0.9		%
Foreign-derived intangible income			(858)						(1.4)		%				(1,106)						(0.2)		%				(657)						(0.1)		%
Foreign currency gain/(loss) on distributions of previously taxed income			642						1.0		%				(2,614)						(0.5)		%				(1,280)						(0.3)		%
IRC Subpart F income			916						1.4		%				119						—		%				96						—		%
Executive compensation limitation			2,569						4.0		%				3,767						0.8		%				1,420						0.3		%
Capitalized acquisition costs			7,202						11.3		%				104						—		%				(412)						(0.1)		%
Other, net			(3,103)						(4.9)		%				(3,870)						(0.8)		%				(5,285)						(1.1)		%
Provision for income taxes			5,509						8.7		%				119,730						24.5		%				95,731						20.8		%

Schedule of Unrecognized Tax Benefits

The following table sets forth the reconciliation of the gross amounts of unrecognized tax benefits at the beginning and ending of the periods indicated: 

			2024						2023						2022
Gross Unrecognized Tax Benefits at January 1			$	21,677					$	18,621					$	18,142
Increases in prior years’ unrecognized tax benefits			627						378						223
Decreases in prior years’ unrecognized tax benefits			(1,915)						(572)						(144)
Increases in current year’s unrecognized tax benefits			4,325						4,395						1,807
Decreases in unrecognized tax benefits from the lapse of statutes of limitations			(12,100)						(1,094)						(1,174)
Settlements			(476)						(51)						(233)
Gross Unrecognized Tax Benefits at December 31			$	12,138					$	21,677					$	18,621

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