v3.26.1
Segments
 12 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segments Segments
    The Company's business is organized and presented in two reportable segments based on product lines as outlined below.
    
Global Flexible Packaging Solutions: Consists of operations that manufacture flexible and film packaging in the food and beverage, medical and pharmaceutical, personal care, and other industries.

Global Rigid Packaging Solutions: Consists of operations that manufacture rigid containers and closures for a broad range of predominantly beverage and food products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads and personal care items, and plastic caps for a wide variety of applications.

    Other consists of the Company's undistributed corporate expenses including executive and functional compensation costs, equity method and other investments, intercompany eliminations, and other business activities.

    In the fourth quarter of fiscal year 2025, following the Merger, the Company appointed Chief Operating Officers to lead each of its reportable segments. The Chief Operating Officers report directly to the Company's Chief Operating Decision Maker ("CODM") which the Company has determined is its Chief Executive Officer. The Company's measure of profit for its reportable segments is adjusted earnings before interest and taxes ("Adjusted EBIT"). The Company defines Adjusted EBIT as operating income adjusted to eliminate the impact of certain items that the Company does not consider indicative of its ongoing operating performance and to include equity in income/(loss) of affiliated companies, net of tax. The Company's management, including the CODM, uses Adjusted EBIT to evaluate segment performance and allocate resources. The Company's CODM uses consolidated expense information in the evaluation of segment performance and to allocate resources and is not regularly provided disaggregated expense information for each of the reportable segments. The Company does not aggregate operating segments when determining the Company's reportable segments.
    Effective January 1, 2026, certain of the Company’s flexible operations in Latin America previously included in the Global Flexible Packaging Solutions reportable segment are now reflected in the Global Rigid Packaging Solutions reportable segment as the Company has consolidated management of its flexible and rigid packaging operations in Latin America under one management team and the Company's CODM is now reviewing results under this new structure. Prior period amounts have been recast to conform with current period presentation.

    The accounting policies of the reportable segments are the same as those in the consolidated financial statements.
    The following table presents information about reportable segments.
Years ended June 30,
($ in millions)202620252024
Sales including intersegment sales
Global Flexible Packaging Solutions$12,829 $10,066 $9,486 
Global Rigid Packaging Solutions10,677 4,943 4,154 
Net sales$23,506 $15,009 $13,640 
Global Flexible Packaging Solutions$(11,040)$(8,668)$(8,157)
Global Rigid Packaging Solutions(9,501)(4,508)(3,829)
Segment expenses (1)$(20,541)$(13,176)$(11,986)
Global Flexible Packaging Solutions$1,789 $1,398 $1,329 
Global Rigid Packaging Solutions1,176 435 325 
Adjusted segment earnings before interest and taxes ("Adjusted Segment EBIT")2,965 1,833 1,654 
Less: Unallocated corporate costs (1)(152)(110)(94)
Less: Amortization of acquired intangible assets from business combinations (2)(558)(246)(167)
Less: Impact of hyperinflation (3)(19)(16)(53)
Less: Transaction costs (4)(32)(169)— 
Less: Restructuring, integration and related activities, net (5)(266)(97)(97)
Less: Executive transition costs (6)(15)— (8)
Add/(Less): Inventory step-up amortization (7)6 (133)— 
Less: Accelerated merger-related compensation (8)— (41)— 
Less: Portfolio review expenses (9)(22)— — 
Less: Other (10)(10)(21)(22)
Interest income66 49 38 
Interest expense(676)(396)(348)
Equity in (income)/loss of affiliated companies, net of tax(5)(3)4 
Income before income taxes and equity in (income)/loss of affiliated companies$1,282 $650 $907 
(1)Segment expenses and unallocated corporate costs primarily cost of goods sold, selling, general, and administrative expenses, research and development expenses, other income/(expenses), net, and other non-operating income.
(2)Amortization of acquired intangible assets from business combinations includes amortization expense related to all acquired intangible assets from past acquisitions.
(3)Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso.
(4)Transaction costs includes incremental costs related to the Merger and other strategic activities. Refer to Note 5, "Restructuring, Transaction, and Integration Expenses, Net".
(5)Restructuring, integration and related activities, net in fiscal year 2026 primarily includes costs incurred in connection with the Berry Plan. Fiscal year 2025 primarily includes costs incurred in connection with the 2023 Restructuring Plan and the Berry Plan. Fiscal year 2024 primarily includes costs incurred in connection with the 2023 Restructuring Plan. Refer to Note 6, "Restructuring," for further information.
(6)Executive transition costs in fiscal year 2026 reflect accelerated compensation, including share-based compensation, granted to the Company's former executives, and other transition related expenses. Fiscal year 2024 includes expenses incurred in connection with the retirement Chief Executive Officer who retired from that role in April 2024, and other transition related expenses.
(7)Inventory step-up amortization relates to additional amortization incurred on inventories in connection with the Merger.
(8)Accelerated merger-related compensation includes accelerated share-based compensation expense and severance incurred in connection with the Merger.
(9)Portfolio review expenses includes impairment and other incremental expenses incurred in connection with the strategic review of the Company's portfolio alternatives.
(10) Other in fiscal year 2026 includes various expense and income items, primarily relating to pension settlements and excise taxes of $26 million, professional fees of $12 million, legal related fees of $12 million and other individually immaterial expense items, partially offset by an aggregate pre-tax gain on sale of certain businesses of $56 million (refer to Note 4, "Acquisitions and Divestitures"). Fiscal year 2025 includes various expense and income items primarily relating to pension settlements of $12 million and other minor items primarily including litigation fees and a loss on disposal of a non-core business. These expenses were partially offset by a pre-tax gain on the disposal of Bericap of $15 million (refer to Note 4, "Acquisitions and Divestitures"). Fiscal year 2024 includes fair value losses of $16 million on economic hedges, retroactive foil duties, certain litigation reserve adjustments, and pension settlements, partially offset by changes in contingent purchase consideration.

The tables below present additional financial information by reportable segments:

    Capital expenditures for the acquisition of long-lived assets by reportable segment were:
Years ended June 30,
($ in millions)202620252024
Global Flexible Packaging Solutions$451 $360 $342 
Global Rigid Packaging Solutions458 213 142 
Other13 7 8 
Total capital expenditures for the acquisition of long-lived assets$922 $580 $492 

    Depreciation and amortization on long-lived assets by reportable segment were:
Years ended June 30,
($ in millions)202620252024
Global Flexible Packaging Solutions$663 $430 $419 
Global Rigid Packaging Solutions774 274 158 
Other13 12 6 
Total depreciation and amortization on long-lived assets$1,450 $716 $583 

    Total assets by segment are not disclosed as the CODM does not use total assets by segment to evaluate segment performance or allocate resources and capital.

    The Company did not have sales to a single customer that exceeded 10% of consolidated net sales for the fiscal years ended June 30, 2026, 2025, and 2024, respectively.

    Sales by major product were:
Years ended June 30,
($ in millions)Segment202620252024
Films and other flexible productsGlobal Flexible Packaging Solutions$11,742 $9,035 $8,463 
Films and other flexible productsGlobal Rigid Packaging Solutions811 806 847 
Specialty flexible folding cartonsGlobal Flexible Packaging Solutions1,087 1,031 1,022 
Containers, preforms, and closuresGlobal Rigid Packaging Solutions9,866 4,137 3,308 
Net sales$23,506 $15,009 $13,640 

    The following table provides long-lived asset information for the major countries in which the Company operates. Long-lived assets include property, plant, and equipment, net of accumulated depreciation and impairments.
June 30,
($ in millions)20262025
United States of America$3,585 $3,872 
Other countries (1)3,824 4,330 
Long-lived assets$7,409 $8,202 
(1)Includes the Company's country of domicile, Jersey. The Company had no long-lived assets in Jersey in any period shown. No individual country represented more than 10% of the respective totals.
    The following tables disaggregate net sales information by geography in which the Company operates based on manufacturing or selling operations:
Year Ended June 30, 2026
($ in millions)Global Flexible Packaging SolutionsGlobal Rigid Packaging SolutionsTotal
North America$6,346 $5,379 $11,725 
Latin America250 1,630 1,880 
Europe (1)4,536 3,305 7,841 
Asia Pacific1,697 363 2,060 
Net sales$12,829 $10,677 $23,506 
Year Ended June 30, 2025
($ in millions)Global Flexible Packaging SolutionsGlobal Rigid Packaging SolutionsTotal
North America$4,429 $2,765 $7,194 
Latin America199 1,591 1,790 
Europe (1)3,792 529 4,321 
Asia Pacific1,646 58 1,704 
Net sales$10,066 $4,943 $15,009 
Year Ended June 30, 2024
($ in millions)Global Flexible Packaging SolutionsGlobal Rigid Packaging SolutionsTotal
North America$4,095 $2,508 $6,603 
Latin America267 1,646 1,913 
Europe (1)3,507 — 3,507 
Asia Pacific1,617 — 1,617 
Net sales$9,486 $4,154 $13,640 

(1)Includes the Company's country of domicile, Jersey. The Company had no sales in Jersey in the periods shown.