| Summary of business by segment |
| | | | | | | | | | | Three Months Ended March 31, | ($ in millions) | | | 2025 | | 2024 | | | | | | | | | Net sales | | | | | | | | Beverage packaging, North and Central America | | | $ | 1,463 | | $ | 1,403 | Beverage packaging, EMEA | | | | 903 | | | 810 | Beverage packaging, South America | | | | 544 | | | 482 | Reportable segment sales | | | | 2,910 | | | 2,695 | Other | | | | 187 | | | 179 | Net sales | | | $ | 3,097 | | $ | 2,874 | | | | | | | | | Comparable segment operating earnings (a) | | | | | | | | Beverage packaging, North and Central America | | | $ | 195 | | $ | 192 | Beverage packaging, EMEA | | | | 96 | | | 85 | Beverage packaging, South America | | | | 69 | | | 55 | Reportable segment comparable operating earnings | | | | 360 | | | 332 | Reconciling items | | | | | | | | Other (b) | | | | (15) | | | (72) | Business consolidation and other activities | | | | (13) | | | (26) | Amortization of acquired intangibles | | | | (33) | | | (38) | Interest expense | | | | (70) | | | (93) | Debt refinancing and other costs | | | | — | | | (2) | Earnings before taxes | | | $ | 229 | | $ | 101 |
| (a) | The difference between reportable segment net sales and comparable operating earnings is comprised of other segment items. Other segment items includes cost of sales, depreciation and amortization, selling, general and administrative and interest income amounts. The CODM does not receive or use these amounts at the reportable segment level. However, the CODM is provided these amounts at a consolidated level to manage operations. |
| (b) | Includes undistributed corporate expenses, net, of $43 million and $96 million for the three months ended March 31, 2025 and 2024, respectively. For the three months ended March 31, 2025 and 2024, respectively, undistributed corporate expenses, net, includes $1 million and $17 million of corporate interest income. For the three months ended March 31, 2024, undistributed corporate expenses, net, includes $79 million of incremental compensation cost from the successful sale of the aerospace business. |
| | | | | | | | | Three Months Ended March 31, | ($ in millions) | | 2025 | | 2024 | | | | | | | | Depreciation and amortization | | | | | | | Beverage packaging, North and Central America | | $ | 56 | | $ | 54 | Beverage packaging, EMEA | | | 47 | | | 47 | Beverage packaging, South America | | | 36 | | | 41 | Reportable segment depreciation and amortization | | | 139 | | | 142 | Other | | | 11 | | | 16 | Depreciation and amortization | | $ | 150 | | $ | 158 |
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