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Business Combinations | 12 Months Ended
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Dec. 31, 2020
Business Combinations |
Business Combinations | 21. Business Combinations On June 28, 2019, the Company completed the acquisition of Nueva Fábrica Nacional de Vidrio, S. de R.L. de C.V. (“Nueva Fanal”) from Grupo Modelo, an affiliate of Anheuser-Busch InBev SA/NV for a total purchase price of approximately $188 million. The Company financed this acquisition with debt. The Nueva Fanal facility is located near Mexico City, Mexico. Currently, this plant has three furnaces to produce and supply approximately 240,000 tons of glass containers annually for Grupo Modelo brands, such as Corona, for local and global export markets. This acquisition increases the Company’s presence in the Mexican glass packaging market. Nueva Fanal’s operating results are included in the Company’s Consolidated Financial Statements from the acquisition date as part of the Americas segment. The acquisition qualifies as a business combination and was accounted for using the acquisition method of accounting. The total purchase price was allocated to the tangible and identifiable intangible assets and liabilities based upon their respective fair values and was completed during the second quarter of 2020. This resulted in the recognition of approximately $21 million of goodwill that is not deductible for tax purposes and approximately $3 million of other intangible assets. The following table summarizes the final estimates of fair value of the assets acquired and liabilities assumed on June 28, 2019 and subsequent adjustments identified through the purchase price allocation process and recorded through the measurement period: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | June 28, 2019 | ​ | ​ | Measurement Period Adjustments | ​ | ​ | June 30, 2020
Accounts receivable | ​ | $ | 42 | ​ | $ | (1) | ​ | $ | 41
Inventory | ​ | ​ | 17 | ​ | ​ | 0 | ​ | ​ | 17
Goodwill | ​ | ​ | 0 | ​ | ​ | 21 | ​ | ​ | 21
Intangibles | ​ | ​ | 35 | ​ | ​ | (32) | ​ | ​ | 3
Net property, plant and equipment | ​ | ​ | 129 | ​ | ​ | 32 | ​ | ​ | 161
Total assets acquired | ​ | ​ | 223 | ​ | ​ | 20 | ​ | ​ | 243
Accounts payable | ​ | ​ | 25 | ​ | ​ | 3 | ​ | ​ | 28
Accrued liabilities | ​ |  | 3 | ​ | ​ | (1) | ​ | ​ | 2
Deferred tax liabilities | ​ |  | 0 | ​ | ​ | 25 | ​ | ​ | 25
Net assets acquired | ​ | $ | 195 | ​ | $ | (7) | ​ | $ | 188
​ This acquisition did not meet the thresholds for a significant acquisition and therefore no pro forma financial information is presented.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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