Business Consolidation and Other Activities |
9 Months Ended |
|---|---|
Sep. 30, 2026 | |
| Business Consolidation and Other Activities | |
| Business Consolidation and Other Activities | 6. Business Consolidation and Other Activities 2026 During the three and nine months ended September 30, 2026, the company recorded net charges of $482 million and $515 million, respectively. During the three and nine months ended September 30, 2026, the net charges were primarily composed of a $475 million noncash settlement charge recognized upon completion of a pension buy-out transaction for the company’s U.K. defined benefit pension plan and costs for previously announced facility closures. See Note 17 for further details on the buy-out transaction. The charges for the three months ended September 30, 2026, were partially offset by the reversal of previously accrued tariff contingencies resolved by a favorable final ruling from the U.S. Department of Commerce. 2025 During the three and nine months ended September 30, 2025, the company recorded net income of $78 million and $53 million, respectively. During the three and nine months ended September 30, 2025, the net income was primarily composed of the $86 million of the business, partially offset by costs for previously announced facility closures and the loss related to the aluminum cups business transaction. The income for the nine months ended September 30, 2025, also includes the receipt of insurance proceeds for replacement costs related to the 2023 fire at the company’s Verona, Virginia, extruded aluminum slug manufacturing facility. See Note 4 for further details on the aluminum cups transaction. |