XML 31 R14.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Equity Investments | 12 Months Ended
--- | ---
Dec. 31, 2023
Equity Investments |
Equity Investments | 6. Equity Investments At December 31, 2023, the Company’s ownership percentage in affiliates includes: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | O-I Ownership | ​ | ​ |
Affiliates |  | Percentage |  | Business Type |
Empresas Comegua S.A. | ​ | 49.7 | % | ​ | Glass container manufacturer | ​
BJC O-I Glass Pte. Ltd. | ​ | 50 | % | ​ | Glass container manufacturer | ​
CO Vidrieria SARL ("COV") | ​ | 50 | % | ​ | Glass container manufacturer | ​
Rocky Mountain Bottle Company | ​ | 50 | % | ​ | Glass container manufacturer | ​
Vetrerie Meridionali SpA ("VeMe") | ​ | 50 | % | ​ | Glass container manufacturer | ​
Vetri Speciali SpA | ​ | 50 | % | ​ | Specialty glass manufacturer | ​
​ Summarized information pertaining to the Company’s equity affiliates follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |
Equity in earnings: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-U.S. | ​ | $ | 121 | ​ | $ | 101 | ​ | $ | 83 | ​
U.S. | ​ |  | 6 | ​ |  | 6 | ​ |  | 7 | ​
Total | ​ | $ | 127 | ​ | $ | 107 | ​ | $ | 90 | ​
Dividends received | ​ | $ | 116 | ​ | $ | 71 | ​ | $ | 103 | ​
​ ​ Summarized combined financial information for equity affiliates is as follows (unaudited): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |
At end of year: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets | ​ | $ | 695 | ​ | $ | 641 | ​
Non-current assets | ​ |  | 1,458 | ​ |  | 1,369 | ​
Total assets | ​ |  | 2,153 | ​ |  | 2,010 | ​
Current liabilities | ​ |  | 496 | ​ |  | 426 | ​
Other liabilities and deferred items | ​ |  | 221 | ​ |  | 207 | ​
Total liabilities and deferred items | ​ |  | 717 | ​ |  | 633 | ​
Net assets | ​ | $ | 1,436 | ​ | $ | 1,377 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the year: |  | 2023 |  | 2022 |  | 2021 |
Net sales | ​ | $ | 1,274 | ​ | $ | 1,328 | ​ | $ | 1,185 | ​
Gross profit | ​ | $ | 351 | ​ | $ | 348 | ​ | $ | 305 | ​
Net earnings | ​ | $ | 236 | ​ | $ | 232 | ​ | $ | 169 | ​
​ Based on an evaluation of each of the Company’s equity investments for the three years ending December 31, 2023, no investments exceeded the significant subsidiary thresholds per Rule 3-09 of Regulation S-X. As such, separate financial statements for the Company’s equity investments are not required to be filed with the Securities and Exchange Commission. The Company made purchases of approximately $126 million and $137 million from equity affiliates in 2023 and 2022, respectively, and owed approximately $81 million and $65 million to equity affiliates as of December 31, 2023 and 2022, respectively.

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

X
- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration