| Summary of business by segment |
| | | | | | | | | Three Months Ended March 31, | ($ in millions) | | 2026 | | 2025 | | | | | | | | Net sales | | | | | | | Beverage packaging, North and Central America | | $ | 1,776 | | $ | 1,463 | Beverage packaging, EMEA | | | 1,111 | | | 958 | Beverage packaging, South America | | | 585 | | | 544 | Reportable segment sales | | | 3,472 | | | 2,965 | Other | | | 131 | | | 132 | Net sales | | $ | 3,603 | | $ | 3,097 | | | | | | | | Comparable segment operating earnings (a) | | | | | | | Beverage packaging, North and Central America | | $ | 205 | | $ | 200 | Beverage packaging, EMEA | | | 134 | | | 111 | Beverage packaging, South America | | | 67 | | | 67 | Reportable segment comparable operating earnings | | | 406 | | | 378 | Other (b) | | | (19) | | | (26) | | | | | | | | Reconciling items, net | | | (129) | | | (123) | | | | | | | | Earnings before taxes | | | 258 | | | 229 |
| | | | | | | Reconciling items: | | | | | | | Business consolidation and other activities | | | (11) | | | (13) | Factoring fee expense (c) | | | (10) | | | (10) | FX gain (loss) (c) | | | 19 | | | 7 | Intangible amortization | | | (37) | | | (36) | Interest expense | | | (78) | | | (70) | Interest income | | | 10 | | | 7 | Stock-based compensation expense (c) | | | (6) | | | (8) | Unrealized gain (loss) on equity-linked notes (c) | | | (14) | | | — | Other, net (c) | | | (2) | | | — | Reconciling items, net | | $ | (129) | | $ | (123) |
| (a) | The difference between reportable segment net sales and comparable operating earnings is comprised of other segment items. Other segment items include cost of sales, depreciation, and selling, general and administrative, adjusted for other items, identified in (c) below. 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 $38 million and $43 million for the three months ended March 31, 2026, and 2025, respectively. |
| (c) | During the first quarter of 2026, the company changed its measure of comparable segment operating earnings, to exclude these amounts, as well as interest income and total amortization. |
| | | | | | | | | Three Months Ended March 31, | ($ in millions) | | 2026 | | 2025 | | | | | | | | Depreciation and amortization | | | | | | | Beverage packaging, North and Central America | | $ | 55 | | $ | 56 | Beverage packaging, EMEA | | | 56 | | | 49 | Beverage packaging, South America | | | 37 | | | 36 | Reportable segment depreciation and amortization | | | 148 | | | 141 | Other | | | 11 | | | 9 | Depreciation and amortization | | $ | 159 | | $ | 150 |
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