| Summary of business by segment |
| | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | ($ in millions) | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | Net sales | | | | | | | | | | | | | Beverage packaging, North and Central America | | $ | 2,060 | | $ | 1,638 | | $ | 5,842 | | $ | 4,714 | Beverage packaging, EMEA | | | 1,331 | | | 1,125 | | | 3,684 | | | 3,206 | Beverage packaging, South America | | | 653 | | | 508 | | | 1,829 | | | 1,529 | Reportable segment net sales | | | 4,044 | | | 3,271 | | | 11,355 | | | 9,449 | Other | | | 144 | | | 108 | | | 433 | | | 365 | Net sales | | $ | 4,188 | | $ | 3,379 | | $ | 11,788 | | $ | 9,814 | | | | | | | | | | | | | | Comparable segment operating earnings (a) | | | | | | | | | | | | | Beverage packaging, North and Central America | | $ | 210 | | $ | 215 | | $ | 622 | | $ | 627 | Beverage packaging, EMEA | | | 170 | | | 164 | | | 466 | | | 427 | Beverage packaging, South America | | | 92 | | | 77 | | | 241 | | | 194 | Reportable segment comparable operating earnings | | | 472 | | | 456 | | | 1,329 | | | 1,248 | Other (b) | | | (21) | | | (16) | | | (58) | | | (54) | | | | | | | | | | | | | | Reconciling items, net | | | (596) | | | (49) | | | (880) | | | (306) | | | | | | | | | | | | | | Earnings (loss) before taxes | | $ | (145) | | $ | 391 | | $ | 391 | | $ | 888 |
| | | | | | | | | | | | | Reconciling items: | | | | | | | | | | | | | Business consolidation and other activities | | | (482) | | | 78 | | | (515) | | | 53 | Factoring fee expense (c) | | | (13) | | | (9) | | | (33) | | | (28) | FX gain (loss) (c) | | | 10 | | | 9 | | | 33 | | | 22 | Intangible amortization | | | (37) | | | (37) | | | (112) | | | (111) | Interest expense | | | (75) | | | (85) | | | (232) | | | (236) | Interest income | | | 7 | | | 8 | | | 27 | | | 20 | Stock-based compensation expense (c) | | | (7) | | | (5) | | | (20) | | | (23) | Unrealized gain (loss) on equity-linked notes (c) | | | 3 | | | (3) | | | (24) | | | (3) | Other, net (c) | | | (2) | | | (5) | | | (4) | | | — | Reconciling items, net | | $ | (596) | | $ | (49) | | $ | (880) | | $ | (306) |
| (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 by (c) in the reconciling items table above. 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 $29 million for the three months ended September 30, 2026, and 2025, respectively; and $121 million and $102 million for the nine months ended September 30, 2026, and 2025, respectively. |
| (c) | During the first quarter of 2026, the company changed its measure of comparable segment operating earnings to exclude these amounts, as well as interest income and total intangible amortization. |
| | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | ($ in millions) | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | Depreciation and amortization | | | | | | | | | | | | | Beverage packaging, North and Central America | | $ | 57 | | $ | 57 | | $ | 169 | | $ | 169 | Beverage packaging, EMEA | | | 57 | | | 55 | | | 171 | | | 155 | Beverage packaging, South America | | | 38 | | | 36 | | | 112 | | | 108 | Reportable segment depreciation and amortization | | | 152 | | | 148 | | | 452 | | | 432 | Other | | | 11 | | | 10 | | | 35 | | | 31 | Depreciation and amortization | | $ | 163 | | $ | 158 | | $ | 487 | | $ | 463 |
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