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GOODWILL AND OTHER INTANGIBLES (Tables) | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Goodwill Balances | The following table presents changes in goodwill balances as allocated to each business segment for the nine months ended September 30, 2025:
In millions | Packaging Solutions North America |  | Packaging Solutions EMEA |  | Total
Balance as of January 1, 2025 |  |  |  |  |
Goodwill | $ | 3,334 |  |  | $ | 76 |  |  | $ | 3,410 |
Accumulated impairment losses | (296) |  |  | (76) |  |  | (372) |
Total | 3,038 |  |  | — |  |  | 3,038 |
Goodwill additions/reductions (a) | 867 |  | (c) | 3,362 |  | (c) | 4,229 |
Currency translation and other (b) | 1 |  |  | 407 |  |  | 408 |
Balance as of September 30, 2025 |  |  |  |  |
Goodwill | 3,965 |  |  | 3,845 |  |  | 7,810 |
Accumulated impairment losses | (59) |  |  | (76) |  |  | (135) |
Total | $ | 3,906 |  |  | $ | 3,769 |  |  | $ | 7,675 |
(a) Includes write-offs of previously impaired goodwill of $237 million and accumulated impairment losses of $(237) million. (b) Represents the effects of foreign currency translations and reclassifications. (c) Reflects the acquisition of DS Smith. See Note 8 - Acquisitions for further details.
Schedule of Identifiable Intangible Assets | Identifiable intangible assets comprised of the following:
| September 30, 2025 |  | December 31, 2024
In millions | Gross Carrying Amount |  | Accumulated Amortization |  | Net Intangible Assets |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Intangible Assets
Customer relationships and lists | $ | 4,131 |  |  | $ | 481 |  |  | $ | 3,650 |  |  | $ | 394 |  |  | $ | 329 |  |  | $ | 65 |
Tradenames, patents and trademarks, and developed technology | 471 |  |  | 74 |  |  | 397 |  |  | 57 |  |  | 57 |  |  | — |
Software | 126 |  |  | 22 |  |  | 104 |  | (a) | 12 |  |  | 12 |  |  | — |
Land and water rights | 8 |  |  | 2 |  |  | 6 |  |  | 8 |  |  | 2 |  |  | 6 |
Other | 20 |  |  | 5 |  |  | 15 |  |  | 3 |  |  | 2 |  |  | 1 |
Total | $ | 4,756 |  |  | $ | 584 |  |  | $ | 4,172 |  |  | $ | 474 |  |  | $ | 402 |  |  | $ | 72 |
(a) Of this balance, $64 million has been placed in service and $40 million is in development.
Schedule of Amortization Expense of Intangible Assets | The Company recognized the following amounts as amortization expense related to intangible assets:
| Three Months Ended September 30, | Nine Months Ended September 30, |
In millions | 2025 |  | 2024 | 2025 |  | 2024 |
Amortization expense related to intangible assets | $ | 73 |  |  | $ | 6 |  | $ | 190 |  |  | $ | 19 |  |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Based on current intangibles subject to amortization, estimated amortization expense for each of the succeeding years is as follows:
In millions | Amortization Expense
2025 (three months) | $ | 66 |
2026 | 292 |
2027 | 274 |
2028 | 270 |
2029 | 243 |
Thereafter | 3,006 |
Total | $ | 4,151 |

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