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Revenue

9 Months Ended

Sep. 30, 2023

Revenue

Revenue

2. Revenue

Revenue is recognized at a point in time when obligations under the terms of the Company’s contracts and related purchase orders with its customers are satisfied. This occurs with the transfer of control of glass containers, which primarily takes place when products are shipped from the Company’s manufacturing or warehousing facilities to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods, which includes estimated provisions for rebates, discounts, returns and allowances. Amounts billed to customers related to shipping and handling or other pass-through items are included in net sales in the Condensed Consolidated Results of Operations. Sales, value-added, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company’s payment terms are based on customary business practices and can vary by customer type. The term between invoicing and when payment is due is not significant. Also, the Company elected to account for shipping and handling costs as a fulfillment cost at the time of shipment.

For the three- and nine-month periods ended September 30, 2023 and September 30, 2022, the Company had no material bad debt expense, and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheets.

​

The following tables for the three months ended September 30, 2023 and 2022 disaggregate the Company’s revenue by customer end use:

​	​	​	​	​	​	​	​	​	​
​	​	Three months ended September 30, 2023
​		Americas		​	Europe		​	Total
​	​	​	​	​	​	​	​	​	​
Alcoholic beverages (beer, wine, spirits)		$	557		$	565		$	1,122
Food and other	​		208	​		128	​		336
Non-alcoholic beverages	​		183	​		73	​		256
Reportable segment totals	​	$	948	​	$	766	​	$	1,714
Other	​		​	​	​	​	​	​	29
Net sales		​	​	​	​	​	​	$	1,743
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	Three months ended September 30, 2022
​		Americas		​	Europe		​	Total
​	​	​	​	​	​	​	​	​	​
Alcoholic beverages (beer, wine, spirits)		$	612	​	$	509	​	$	1,121
Food and other	​		205	​	​	113	​		318
Non-alcoholic beverages	​		170	​	​	58	​		228
Reportable segment totals	​	$	987	​	$	680	​	$	1,667
Other	​		​	​	​	​	​	​	26
Net sales		​	​	​	​	​	​	$	1,693

​

The following tables for the nine months ended September 30, 2023 and 2022 disaggregate the Company’s revenue by customer end use:

​	​	​	​	​	​	​	​	​	​
​	​	Nine months ended September 30, 2023
​		Americas		​	Europe		​	Total
​	​	​	​	​	​	​	​	​	​
Alcoholic beverages (beer, wine, spirits)		$	1,752		$	1,816	​	$	3,568
Food and other	​		651	​		384	​		1,035
Non-alcoholic beverages	​		540	​		228	​		768
Reportable segment totals	​	$	2,943	​	$	2,428	​	$	5,371
Other	​		​	​	​	​	​	​	93
Net sales		​	​	​	​	​	​	$	5,464
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​
​	​	Nine months ended September 30, 2022
​		Americas		​	Europe		​	Total
​	​	​	​	​	​	​	​	​	​
Alcoholic beverages (beer, wine, spirits)		$	1,800	​	$	1,621	​	$	3,421
Food and other	​		617	​	​	345	​		962
Non-alcoholic beverages	​		481	​	​	187	​		668
Reportable segment totals	​	$	2,898	​	$	2,153	​	$	5,051
Other	​		​	​	​	​	​	​	112
Net sales		​	​	​	​	​	​	$	5,163

​

X

- References

No definition available.

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- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Topic 606
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-Topic 606
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

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