Berry Global (BERY) 10-Q 31 Jul 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	9 Months Ended
	Jun. 27, 2020	Jul. 31, 2020
Cover [Abstract]
Entity Registrant Name	BERRY GLOBAL GROUP, INC.
Entity Central Index Key	0001378992
Current Fiscal Year End Date	--09-26
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		132.6
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 27, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-35672
Entity Tax Identification Number	20-5234618
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	101 Oakley Street
Entity Address, City or Town	Evansville
Entity Address, State or Province	IN
Entity Address, Postal Zip Code	47710
City Area Code	812
Local Phone Number	424-2904
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	BERY
Security Exchange Name	NYSE

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Consolidated Statements of Income (Unaudited) [Abstract]
Net sales	$ 2,910	$ 1,937	$ 8,701	$ 5,859
Costs and expenses:
Cost of goods sold	2,272	1,559	6,959	4,737
Selling, general and administrative	198	125	631	392
Amortization of intangibles	74	38	226	119
Restructuring and transaction activities	19	0	55	35
Operating income	347	215	830	576
Other (income) expense, net	(7)	136	6	159
Interest expense, net	110	71	339	201
Income before income taxes	244	8	485	216
Income tax expense (benefit	53	(5)	121	41
Net income	$ 191	$ 13	$ 364	$ 175
Net income per share:
Basic (in dollars per share)	$ 1.44	$ 0.10	$ 2.75	$ 1.34
Diluted (in dollars per share)	$ 1.42	$ 0.10	$ 2.71	$ 1.31
Outstanding weighted-average shares:
Basic (in shares)	132.5	131.5	132.4	131
Diluted (in shares)	134.2	134.2	134.3	134

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract]
Net income	$ 191	$ 13	$ 364	$ 175
Other comprehensive income (loss), net of tax:
Currency translation	11	10	(54)	12
Pension	0	0	(1)	0
Derivative instruments	(13)	(35)	(109)	(67)
Other comprehensive income (loss)	(2)	(25)	(164)	(55)
Comprehensive income (loss)	$ 189	$ (12)	$ 200	$ 120

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 27, 2020	Sep. 28, 2019
Current assets:
Cash and cash equivalents	$ 906	$ 750
Accounts receivable (less allowance of $28 and $28, respectively)	1,471	1,526
Finished goods	750	743
Raw materials and supplies	568	581
Prepaid expenses and other current assets	162	157
Total current assets	3,857	3,757
Noncurrent assets:
Property, plant, and equipment	4,481	4,714
Goodwill and intangible assets	7,720	7,831
Right-of-use assets	563	0
Other assets	110	167
Total assets	16,731	16,469
Current liabilities:
Accounts payable	981	1,159
Accrued employee costs	267	214
Other current liabilities	677	562
Current portion of long-term debt	70	104
Total current liabilities	1,995	2,039
Noncurrent liabilities:
Long-term debt, less current portion	10,690	11,261
Deferred income taxes	673	803
Employee benefit obligations	307	327
Operating lease liabilities	468	0
Other long-term liabilities	729	421
Total liabilities	14,862	14,851
Stockholders' equity:
Common stock (132.7 and 132.3 million shares issued, respectively)	1	1
Additional paid-in capital	1,005	949
Retained earnings	1,413	1,054
Accumulated other comprehensive loss	(550)	(386)
Total stockholders' equity	1,869	1,618
Total liabilities and stockholders' equity	$ 16,731	$ 16,469

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 27, 2020	Sep. 28, 2019
Current assets:
Accounts receivable, allowance	$ 28	$ 28
Stockholders' equity:
Common stock, shares issued (in shares)	132.7	132.3

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Common Stock [Member]	Additional Paid-in Capital [Member]		Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Total		Adjustment for Adoption of New Accounting Standard [Member]Common Stock [Member]	Adjustment for Adoption of New Accounting Standard [Member]Additional Paid-in Capital [Member]	Adjustment for Adoption of New Accounting Standard [Member]Accumulated Other Comprehensive Loss [Member]	Adjustment for Adoption of New Accounting Standard [Member]Retained Earnings [Member]	Adjustment for Adoption of New Accounting Standard [Member]
Balance at Sep. 29, 2018	$ 1	$ 870		$ (156)	$ 719	$ 1,434
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0		0	175	175
Other comprehensive loss	0	0		(55)	0	(55)
Share-based compensation	0	21		0	0	21
Proceeds from issuance of common stock	0	43		0	0	43
Common stock repurchased and retired	0	(3)		0	(69)	(72)
Balance at Jun. 29, 2019	1	931		(211)	825	1,546
Balance at Mar. 30, 2019	1	904		(186)	812	1,531
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0		0	13	13
Other comprehensive loss	0	0		(25)	0	(25)
Share-based compensation	0	4		0	0	4
Proceeds from issuance of common stock	0	23		0	0	23
Common stock repurchased and retired	0	0		0	0	0
Balance at Jun. 29, 2019	1	931		(211)	825	1,546
Balance at Sep. 28, 2019	1	949		(386)	1,054	1,618
Balance (ASU 2016-02 Related to Leases [Member]) at Sep. 28, 2019								$ 0	$ 0	$ 0	$ (5)	$ (5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0		0	364	364
Other comprehensive loss	0	0		(164)	0	(164)
Share-based compensation	0	28		0	0	28
Proceeds from issuance of common stock	0	6		0	0	6
Acquisition	0	22	[1]	0	0	22	[1]
Balance at Jun. 27, 2020	1	1,005		(550)	1,413	1,869
Balance at Mar. 28, 2020	1	976		(548)	1,222	1,651
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0		0	191	191
Other comprehensive loss	0	0		(2)	0	(2)
Share-based compensation	0	4		0	0	4
Proceeds from issuance of common stock	0	3		0	0	3
Acquisition	0	22	[1]	0	0	22	[1]
Balance at Jun. 27, 2020	$ 1	$ 1,005		$ (550)	$ 1,413	$ 1,869
[1]	Represents noncontrolling interest (see Note 4).

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Cash Flows from Operating Activities:
Net income	$ 364	$ 175
Adjustments to reconcile net cash provided by operating activities:
Depreciation	412	278
Amortization of intangibles	226	119
Non-cash interest	18	(4)
Loss on foreign exchange forward contracts	0	156
Deferred income tax	30	(16)
Share-based compensation expense	28	21
Other non-cash operating activities, net	23	9
Changes in working capital	(93)	(169)
Changes in other assets and liabilities	(29)	2
Net cash from operating activities	979	571
Cash Flows from Investing Activities:
Additions to property, plant and equipment, net	(419)	(271)
Settlement of net investment hedges	281	0
Other investing activities	(14)	2
Net cash from investing activities	(152)	(269)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings	1,202	0
Repayments on long-term borrowings	(1,859)	(383)
Proceeds from issuance of common stock	6	43
Repurchase of common stock	0	(74)
Payment of tax receivable agreement	0	(16)
Debt financing costs	(16)	0
Net cash from financing activities	(667)	(430)
Effect of exchange rate changes on cash	(4)	2
Net change in cash	156	(126)
Cash and cash equivalents at beginning of period	750	381
Cash and cash equivalents at end of period	$ 906	$ 255

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 27, 2020
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements of Berry Global Group, Inc. ("the Company," "we," or "Berry") have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission for interim reporting. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts and disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates. The Company has recast certain prior period amounts to conform to current reporting.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Jun. 27, 2020
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements Changes to GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of accounting standards updates to the FASB's Accounting Standards Codification. During fiscal 2020, with the exception of the below, there have been no developments to the recently adopted accounting pronouncements from those disclosed in the Company's 2019 Annual Report on Form 10-K that are considered to have a material impact on our unaudited consolidated financial statements. Leases Effective September 29, 2019, the Company adopted ASU 2016-02, Leases (Topic 842), including all related amendments, using the modified retrospective approach and recognized the cumulative effect of adoption to retained earnings. Under the new standard, the lessee of an operating lease is required to: 1) recognize a right-of-use asset and a lease liability in the statement of financial position, 2) recognize a single lease cost allocated over the lease term generally on a straight-line basis, and 3) classify all cash payments within operating activities on the statement of cash flows. See Note 6. Leases for more information. Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) and issued subsequent amendments to the initial guidance. The new standard requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model, which includes historical experience, current conditions, and reasonable and supportable forecasts. The new standard also requires enhanced disclosure. The new standard will be effective for the Company beginning fiscal 2021. The Company is in the process of evaluating this new standard, however, the Company does not anticipate this to have a material impact. Defined Benefit Plans In August 2018, the FASB issued ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans. The new standard removes requirements to disclose the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year and the effects of a one-percentage-point changes in assumed health care cost trend rates. The standard also adds requirements to disclose the reasons for significant gains and losses related to changes in the benefit obligations for the period and the accumulated benefit obligation ("ABO") for plans with ABOs in excess of plan assets. The new standard will be effective for the Company beginning fiscal 2022. The Company is currently evaluating the impact of the adoption of this standard to our disclosures. Income Taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740). The new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. The new standard will be effective for the Company beginning fiscal 2022. The Company is currently evaluating the impact of the adoption of this standard to our disclosures. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848). This standard provides temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as SOFR. ASU 2020-04 is effective upon issuance and generally can be applied through the end of calendar year 2022. The Company is currently evaluating the impact and whether it plans to adopt the optional expedients and exceptions provided under this new standard.

Revenue and Accounts Receivable

Revenue and Accounts Receivable	9 Months Ended
	Jun. 27, 2020
Revenue and Accounts Receivable [Abstract]
Revenue	3. Revenue and Accounts Receivable Our revenues are primarily derived from the sale of plastic packaging products to customers. Revenue is recognized when performance obligations are satisfied, in an amount reflecting the consideration to which the Company expects to be entitled. We consider the promise to transfer products to be our sole performance obligation. If the consideration agreed to in a contract includes a variable amount, we estimate the amount of consideration we expect to be entitled to in exchange for transferring the promised goods to the customer using the most likely amount method. Our main source of variable consideration are customer rebates. The accrual for customer rebates was $93 million and $114 million at June 27, 2020 and September 28, 2019, respectively, and is included in Other current liabilities on the Consolidated Balance Sheets. The Company disaggregates revenue based on reportable business segment, geography, and significant product line. Refer to Note 10. Segment and Geographic Data for further information.
Accounts Receivable	The Company has entered into various qualifying factoring agreements to sell certain receivables to third-party financial institutions. The transfer of receivables is accounted for as a sale, without recourse. Net sales available under qualifying U.S. based programs were $242 million and $241 million for the quarterly period ended June 27, 2020 and June 29, 2019, respectively. Net sales available under qualifying U.S. based programs were $700 million and $656 million for the three quarterly periods ended June 27, 2020 and June 29, 2019, respectively. There were no amounts outstanding from financial institutions related to these programs. The fees associated with the transfer of receivables for all programs were not material for any of the periods presented.

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Jun. 27, 2020
Acquisitions and Dispositions [Abstract]
Acquisitions and Dispositions	4. Acquisitions and Dispositions RPC Group Plc In July 2019, the Company completed the acquisition of the entire outstanding share capital of RPC Group Plc (“RPC”), for aggregate consideration of $6.1 billion. RPC is a leading plastic product design and engineering company for packaging and select non-packaging markets, with 189 sites in 34 countries. RPC develops and manufactures a diverse range of products for a wide variety of customers, including many household names, and enjoys strong market positions in many of the end markets it serves and the geographical areas in which it operates. It uses a wide range of polymer conversion techniques in both rigid and flexible plastics manufacture, and is one of the largest plastic converters in Europe. The international based facilities are operated within the Consumer Packaging International segment with the remaining U.S. based facilities operated within the Consumer Packaging North America segment. The results of RPC have been included in the consolidated results of the Company since the date of the acquisition. Net sales and operating income of RPC included in the Consolidated Statements of Income for the quarterly period ended June 27, 2020 were $1,092 million and $111 million, respectively. The majority of RPC activity for the quarter ended June 27, 2020, net sales of $968 million and operating income of $90 million, is operated in the Consumer Packaging International segment. Net sales and operating income of RPC included in the Consolidated Statements of Income for the three quarterly periods ended June 27, 2020 were $3,346 million and $245 million, respectively. The majority of RPC activity for the three quarterly periods ended June 27, 2020, net sales of $2,972 million and operating income of $196 million, is operated in the Consumer Packaging International segment. The acquisition has been accounted for under the purchase method of accounting. Under this method, the assets acquired and liabilities assumed have been recorded based on fair values as of the acquisition date. The Company has recognized goodwill on this transaction primarily as a result of expected cost synergies, and expects goodwill to be partially deductible for tax purposes. The preliminary purchase price allocation has been updated for certain measurement period adjustments based on the final valuation resulting in a $70 million increase in working capital, a $224 million decrease in property, plant and equipment, a $135 million decrease in customer relationships, a $93 million increase in trade names, a $67 million decrease in deferred tax liabilities, and a $22 million increase in noncontrolling interest. These adjustments resulted in corresponding increases to goodwill. The following table summarizes the final purchase price allocation (in millions): Consideration Cash $ 6,084 Total consideration transferred 6,084 Identifiable assets acquired and liabilities assumed Working capital (a) 770 Property, plant and equipment 2,151 Identifiable intangible assets 1,670 Other assets 2 Other long-term liabilities (859 ) Goodwill 2,372 Net assets acquired and liabilities assumed 6,106 Noncontrolling interest (22 ) Total consideration transferred $ 6,084 (a) To finance the purchase, the Company issued $1,250 million aggregate principal amount of first priority senior secured notes due 2026, $500 million aggregate principal amount of second priority senior secured notes due 2027, and entered into incremental term loans due July 2026, to fund the remainder of the purchase price. When including RPC results for the periods prior to the acquisition date, unaudited pro forma net sales and net income were $3.3 billion and $38 million, respectively, for the quarterly period ended June 29, 2019 and $9.6 billion and $217 million, respectively, for the three quarterly periods ended June 29, 2019. The unaudited pro forma net sales and net income assume that the RPC acquisition had occurred as of the beginning of the period. Seal For Life In July 2019, the Company completed the sale of its Seal For Life ("SFL") business which was operated in our Health, Hygiene & Specialties reporting segment for net proceeds of $325 million. SFL recorded $96 million in net sales during fiscal 2019.

Restructuring and Transaction A

Restructuring and Transaction Activities	9 Months Ended
	Jun. 27, 2020
Restructuring and Transaction Activities [Abstract]
Restructuring and Transaction Activities	5. Restructuring and Transaction Activities The table below includes the significant components of restructuring and transaction activities, by reporting segment: Quarterly Period Ended Three Quarterly Periods Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Consumer Packaging International $ 14 $ 2 $ 37 $ 6 Consumer Packaging North America 2 6 6 14 Engineered Materials 2 — 6 5 Health, Hygiene & Specialties 1 (8 ) 6 10 Consolidated $ 19 $ — $ 55 $ 35 The table below sets forth the activity with respect to the restructuring and transaction activities accrual at June 27, 2020: Restructuring Employee Severance and Benefits Facility Exit Costs Non-cash Impairment Charges Transaction Activities Total Balance as of September 28, 2019 $ 2 $ 5 $ — $ — $ 7 Charges 24 1 2 28 55 Non-cash items — — (2 ) — (2 ) Cash payments (17 ) (2 ) — (28 ) (47 ) Balance as of June 27, 2020 $ 9 $ 4 $ — $ — $ 13

Leases

Leases	9 Months Ended
	Jun. 27, 2020
Leases [Abstract]
Leases	6. Leases During the first quarter of fiscal 2020, the Company adopted ASU 2016-02, Leases (Topic 842). The Company leases certain manufacturing facilities, warehouses, office space, manufacturing equipment, office equipment, and automobiles. Under the new standard, we recognize right-of-use assets and lease liabilities for leases with original lease terms greater than one year based on the present value of lease payments over the lease term using our incremental borrowing rate on a collateralized basis. Short-term leases, with original lease terms of less than one year, are not recognized on the balance sheet. We are party to certain leases, namely for manufacturing facilities, which offer renewal options to extend the original lease term. Renewal options are included in the right-of-use asset and lease liability based on our assessment of the probability that the options will be exercised. We have elected the package of practical expedients which allows the Company to not reassess: (i) whether any expired or existing contracts are or contain leases, (ii) lease classification for any expired or existing leases, and (iii) initial direct costs for any existing leases. Additionally, we have elected the practical expedient to not separate lease and non-lease components for all asset classes. Supplemental lease information is as follows: Leases Classification June 27, 2020 Assets Operating lease right-of-use assets Right-of-use assets $ 563 Finance lease right-of-use assets Property, plant, and equipment 88 Current liabilities Operating lease liabilities Other current liabilities $ 111 Finance lease liabilities Current portion of long-term debt 17 Non-current liabilities Operating lease liabilities Operating lease liabilities $ 468 Finance lease liabilities Long-term debt, less current portion 71 Lease cost Quarterly Period Ended June 27, 2020 Three Quarterly Periods Ended June 27, 2020 Operating lease cost $ 29 $ 86 Finance lease cost: Amortization of right-of-use assets 3 11 Interest on lease liabilities 1 3 Total finance lease cost 4 14 Short-term lease cost 3 11 Total lease cost $ 36 $ 111 Cash paid for amounts included in lease liabilities Three Quarterly Periods Ended June 27, 2020 Operating cash flows from operating leases $ 86 Operating cash flows from finance leases 3 Financing cash flows from finance leases 25 June 27, 2020 Weighted-average remaining lease term - operating leases 8 years Weighted-average remaining lease term - finance leases 4 years Weighted-average discount rate - operating leases 4.6 % Weighted-average discount rate - finance leases 3.7 % Right-of-use assets obtained in exchange for new operating lease liabilities were $2 million and $15 million for the quarterly and three quarterly periods ended June 27, 2020, respectively. At June 27, 2020, annual lease commitments were as follows: Fiscal Year Operating Leases Finance Leases Remainder of 2020 $ 35 $ 8 2021 108 22 2022 100 26 2023 85 16 2024 70 6 Thereafter 303 15 Total lease payments 701 93 Less: Interest (122 ) (5 ) Present value of lease liabilities $ 579 $ 88

Long-Term Debt

Long-Term Debt	9 Months Ended
	Jun. 27, 2020
Long-Term Debt [Abstract]
Long-Term Debt	7. Long-Term Debt Long-term debt consists of the following: Facility Maturity Date June 27, 2020 September 28, 2019 Term loan October 2022 $ 1,545 $ 1,545 Term loan January 2024 450 489 Term loan July 2026 4,218 4,250 Revolving line of credit May 2024 — — 5.50% Second Priority Senior Secured Notes May 2022 150 500 6.00% Second Priority Senior Secured Notes October 2022 200 400 5.125% Second Priority Senior Secured Notes July 2023 700 700 1.00% First Priority Senior Secured Notes (a) July 2025 786 — 4.50% Second Priority Senior Secured Notes February 2026 500 500 4.875% First Priority Senior Secured Notes July 2026 1,250 1,250 5.625% Second Priority Senior Secured Notes July 2027 500 500 1.50% First Priority Senior Secured Notes (a) July 2027 421 — Debt discounts and deferred fees (92 ) (112 ) Finance leases and other Various 132 167 Retired debt — 1,176 Total long-term debt 10,760 11,365 Current portion of long-term debt (70 ) (104 ) Long-term debt, less current portion $ 10,690 11,261 (a) In January 2020, the Company (i) issued €700 million aggregate principal amount of 1.00% first priority senior secured notes due 2025 and €375 million aggregate principal amount of 1.50% first priority senior secured notes due 2027 (the “Euro notes”) and (ii) refinanced its existing $4.25 billion Term loan maturing in July 2026, resulting in a 50 basis point interest rate reduction. The proceeds of the Euro notes were used to prepay the entire outstanding amount of our existing euro denominated Term loan. Debt extinguishment costs of $18 million, primarily comprised of deferred debt discount and financing fees, were recorded in Other expense, net on the Consolidated Statements of Income upon the extinguishment of the euro Term loan. The Company was in compliance with all debt covenants for all periods presented. Debt discounts and deferred financing fees are presented net of Long-term debt, less the current portion on the Consolidated Balance Sheets and are amortized to Interest expense, net on the Consolidated Statements of Income through maturity.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Jun. 27, 2020
Financial Instruments and Fair Value Measurements [Abstract]
Financial Instruments and Fair Value Measurements	8. Financial Instruments and Fair Value Measurements In the normal course of business, the Company is exposed to certain risks arising from business operations and economic factors. The Company may use derivative financial instruments to help manage market risk and reduce the exposure to fluctuations in interest rates and foreign currencies. These financial instruments are not used for trading or other speculative purposes. Cross-Currency Swaps The Company is party to certain cross-currency swaps to hedge a portion of our foreign currency risk. The swap agreements mature May 2022 (€250 million), June 2024 (€1,625 million) and July 2027 (£700 million). In addition to cross-currency swaps, we hedge a portion of our foreign currency risk by designating foreign currency denominated long-term debt as net investment hedges of certain foreign operations. As of June 27, 2020, we had outstanding long-term debt of €785 million that was designated as a hedge of our net investment in certain euro-denominated foreign subsidiaries. When valuing cross-currency swaps the Company utilizes Level 2 inputs (substantially observable). During fiscal 2020, the Company entered into transactions to cash settle existing cross-currency swaps and received proceeds of $281 million. The swap settlement impact has been included as a component of Currency translation within Accumulated other comprehensive loss. Following the settlement of the existing cross-currency swaps, we entered into new cross-currency swaps with matching notional amounts and maturity dates of the original swaps. Interest Rate Swaps The primary purpose of the Company’s interest rate swap activities is to manage interest expense variability associated with our outstanding variable rate term loan debt. When valuing interest rate swaps the Company utilizes Level 2 inputs (substantially observable). As of June 27, 2020, the Company effectively had (i) a $450 million interest rate swap transaction that swaps a one-month variable LIBOR contract for a fixed annual rate of 1.398%, with an expiration in June 2026, (ii) a $1 billion interest rate swap transaction that swaps a one-month variable LIBOR contract for a fixed annual rate of 1.835% with an expiration in June 2026, (iii) a $400 million interest rate swap transaction that swaps a one-month variable LIBOR contract for a fixed annual rate of 1.916% with an expiration in June 2026, (iv) a $884 million interest rate swap transaction that swaps a one-month variable LIBOR contract for a fixed annual rate of 1.857%, with an expiration in June 2024, and (v) a $473 million interest rate swap transaction that swaps a one-month variable LIBOR contract for a fixed annual rate of 2.050%, with an expiration in June 2024. The Company records the fair value positions of all derivative financial instruments on a net basis by counterparty for which a master netting arrangement is utilized. Balances on a gross basis are as follows: Derivative Instruments Hedge Designation Balance Sheet Location June 27, 2020 September 28, 2019 Cross-currency swaps Designated Other assets $ — $ 88 Cross-currency swaps Designated Other long-term liabilities 153 — Interest rate swaps Designated Other long-term liabilities 228 81 The effect of the Company's derivative instruments on the Consolidated Statements of Income is as follows: Quarterly Period Ended Three Quarterly Periods Ended Derivative Instruments Statements of Income Location June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Cross-currency swaps Interest expense, net $ (2 ) $ (2 ) $ (5 ) $ (5 ) Cross-currency swaps Other expense, net — 18 — 18 Foreign exchange forward contracts Other expense, net — 120 — 138 Interest rate swaps Interest expense, net 13 (4 ) 17 (13 ) Non-recurring Fair Value Measurements The Company has certain assets that are measured at fair value on a non-recurring basis when impairment indicators are present or when the Company completes an acquisition. The Company adjusts certain long-lived assets to fair value only when the carrying values exceed the fair values. The categorization of the framework used to value the assets is considered Level 3, due to the subjective nature of the unobservable inputs used to determine the fair value. These assets that are subject to our annual impairment analysis primarily include our definite lived and indefinite lived intangible assets, including Goodwill and our property, plant and equipment. The Company reviews Goodwill and other indefinite lived assets for impairment as of the first day of the fourth fiscal quarter each year and more frequently if impairment indicators exist. The Company determined Goodwill and other indefinite lived assets were not impaired in our annual fiscal 2019 assessment. While impairment indicators were not identified during the quarter that warranted impairment testing, the ongoing COVID-19 pandemic has created market volatility which we believe is short-term in nature. However, if we experience sustained declines in valuation market multiples, sustained lower earnings, or escalating macroeconomic challenges, the need for future impairment tests may arise. Included in the following table are the major categories of assets measured at fair value on a non-recurring basis as of June 27, 2020 and September 28, 2019, along with the impairment loss recognized on the fair value measurement during the period: As of June 27, 2020 Level 1 Level 2 Level 3 Total Impairment Indefinite-lived trademarks $ — $ — $ 248 $ 248 $ — Goodwill — — 5,184 5,184 — Definite lived intangible assets — — 2,288 2,288 — Property, plant, and equipment — — 4,481 4,481 2 Total $ — $ — $ 12,201 $ 12,201 $ 2 As of September 28, 2019 Level 1 Level 2 Level 3 Total Impairment Indefinite-lived trademarks $ — $ — $ 248 $ 248 $ — Goodwill — — 5,051 5,051 — Definite lived intangible assets — — 2,532 2,532 — Property, plant, and equipment — — 4,714 4,714 8 Total $ — $ — $ 12,545 $ 12,545 $ 8 The Company's financial instruments consist primarily of cash and cash equivalents, long-term debt, interest rate and cross-currency swap agreements, and finance lease obligations. The book value of our marketable long-term indebtedness exceeded fair value by $31 million as of June 27, 2020. The Company's long-term debt fair values were determined using Level 2 inputs as other significant observable inputs were not available.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 27, 2020
Income Taxes [Abstract]
Income Taxes	9. Income Taxes In comparison to the statutory rate, the effective tax rate for the quarter and year-to-date was modestly impacted by U.S. state income taxes, global intangible low-taxed income provisions (GILTI), uncertain tax positions and other discrete items.

Segment and Geographic Data

Segment and Geographic Data	9 Months Ended
	Jun. 27, 2020
Segment and Geographic Data [Abstract]
Segment and Geographic Data	10. Segment and Geographic Data The Company's operations are organized into four reporting segments: Consumer Packaging International, Consumer Packaging North America, Engineered Materials, and Health, Hygiene & Specialties. The structure is designed to align us with our customers, provide optimal service, drive future growth, and to facilitate synergies realization. Selected information by reportable segment is presented in the following tables: Quarterly Period Ended Three Quarterly Periods Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net sales: Consumer Packaging International $ 1,020 $ 52 $ 3,125 $ 153 Consumer Packaging North America 718 652 2,104 1,892 Engineered Materials 564 630 1,747 1,910 Health, Hygiene & Specialties 608 603 1,725 1,904 Total net sales $ 2,910 $ 1,937 $ 8,701 $ 5,859 Operating income: Consumer Packaging International $ 89 $ (1 ) $ 195 $ (2 ) Consumer Packaging North America 93 73 226 168 Engineered Materials 81 83 239 250 Health, Hygiene & Specialties 84 60 170 160 Total operating income $ 347 $ 215 $ 830 $ 576 Depreciation and amortization: Consumer Packaging International $ 79 $ 4 $ 240 $ 12 Consumer Packaging North America 62 50 190 156 Engineered Materials 25 27 80 87 Health, Hygiene & Specialties 43 46 128 142 Total depreciation and amortization $ 209 $ 127 $ 638 $ 397 Selected information by geographical region is presented in the following tables: Quarterly Period Ended Three Quarterly Periods Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net sales: United States and Canada $ 1,430 $ 1,556 $ 4,648 $ 4,672 Europe 1,172 200 3,156 614 Rest of world 308 181 897 573 Total net sales $ 2,910 $ 1,937 $ 8,701 $ 5,859 Selected information by product line is presented in the following tables: Quarterly Period Ended Three Quarterly Periods Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net sales: Packaging 84 100 82 100 Non-packaging 16 — 18 — Consumer Packaging International 100 % 100 % 100 % 100 % Rigid Open Top 44 47 45 45 Rigid Closed Top 56 53 55 55 Consumer Packaging North America 100 % 100 % 100 % 100 % Core Films 38 40 38 40 Retail & Industrial 62 60 62 60 Engineered Materials 100 % 100 % 100 % 100 % Health 22 15 19 15 Hygiene 52 52 53 54 Specialties 26 33 28 31 Health, Hygiene & Specialties 100 % 100 % 100 % 100 %

Contingencies and Commitments

Contingencies and Commitments	9 Months Ended
	Jun. 27, 2020
Contingencies and Commitments [Abstract]
Contingencies and Commitments	11. Contingencies and Commitments The Company is party to various legal proceedings involving routine claims which are incidental to its business. Although the Company's legal and financial liability with respect to such proceedings cannot be estimated with certainty, we believe that any ultimate liability would not be material to our financial statements. The Company has various purchase commitments for raw materials, supplies, and property and equipment incidental to the ordinary conduct of business.

Share Repurchase Program

Share Repurchase Program	9 Months Ended
	Jun. 27, 2020
Share Repurchase Program [Abstract]
Share Repurchase Program	12. Share Repurchase Program No shares were repurchased during the three quarterly periods ended June 27, 2020. Authorized share repurchases of $393 million remain available to the Company.

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Share	9 Months Ended
	Jun. 27, 2020
Basic and Diluted Net Income Per Share [Abstract]
Basic and Diluted Net Income Per Share	13. Basic and Diluted Net Income Per Share Basic net income per share is calculated by dividing the net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. Diluted net income per share is calculated by dividing the net income attributable to common stockholders by the weighted-average number of common share equivalents outstanding for the period determined using the treasury-stock method and the if-converted method. For purposes of this calculation, stock options are considered to be common stock equivalents and are only included in the calculation of diluted net income per share when their effect is dilutive. For the three and nine months ended June 27, 2020, 7.1 million and million shares, respectively, we The following tables provide a reconciliation of the numerator and denominator of the basic and diluted net income per share calculations. Quarterly Period Ended Three Quarterly Periods Ended (in millions, except per share amounts) June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Numerator Consolidated net income $ 191 $ 13 $ 364 $ 175 Denominator Weighted average common shares outstanding - basic 132.5 131.5 132.4 131.0 Dilutive shares 1.7 2.7 1.9 3.0 Weighted average common and common equivalent shares outstanding - diluted 134.2 134.2 134.3 134.0 Per common share income Basic $ 1.44 $ 0.10 $ 2.75 $ 1.34 Diluted $ 1.42 $ 0.10 $ 2.71 $ 1.31

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Jun. 27, 2020
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	14. Accumulated Other Comprehensive Loss The components and activity of Accumulated other comprehensive loss are as follows: Quarterly Period Ended Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at March 28, 2020 $ (344 ) $ (57 ) $ (147 ) $ (548 ) Other comprehensive income (loss), net of tax before reclassifications 11 — (23 ) (12 ) Net amount reclassified from accumulated other comprehensive loss — — 10 10 Balance at June 27, 2020 $ (333 ) $ (57 ) $ (160 ) $ (550 ) Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at March 30, 2019 $ (173 ) $ (13 ) $ — $ (186 ) Other comprehensive income (loss), net of tax before reclassifications 10 — (32 ) (22 ) Net amount reclassified from accumulated other comprehensive loss — — (3 ) (3 ) Balance at June 29, 2019 $ (163 ) $ (13 ) $ (35 ) $ (211 ) Three Quarterly Periods Ended Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at September 28, 2019 $ (279 ) $ (56 ) $ (51 ) $ (386 ) Other comprehensive loss, net of tax before reclassifications (54 ) (1 ) (126 ) (181 ) Net amount reclassified from accumulated other comprehensive loss — — 17 17 Balance at June 27, 2020 $ (333 ) $ (57 ) $ (160 ) $ (550 ) Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at September 29, 2018 $ (175 ) $ (13 ) $ 32 $ (156 ) Other comprehensive income (loss), net of tax before reclassifications 12 — (59 ) (47 ) Net amount reclassified from accumulated other comprehensive loss — — (8 ) (8 ) Balance at June 29, 2019 $ (163 ) $ (13 ) $ (35 ) $ (211 )

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Jun. 27, 2020
Basis of Presentation [Abstract]
Basis of Presentation	The accompanying unaudited Condensed Consolidated Financial Statements of Berry Global Group, Inc. ("the Company," "we," or "Berry") have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission for interim reporting. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.
Use of Estimates	In preparing financial statements in conformity with GAAP, we must make estimates and assumptions that affect the reported amounts and disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates.
Reclassifications	The Company has recast certain prior period amounts to conform to current reporting.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Jun. 27, 2020
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	Changes to GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of accounting standards updates to the FASB's Accounting Standards Codification. During fiscal 2020, with the exception of the below, there have been no developments to the recently adopted accounting pronouncements from those disclosed in the Company's 2019 Annual Report on Form 10-K that are considered to have a material impact on our unaudited consolidated financial statements. Leases Effective September 29, 2019, the Company adopted ASU 2016-02, Leases (Topic 842), including all related amendments, using the modified retrospective approach and recognized the cumulative effect of adoption to retained earnings. Under the new standard, the lessee of an operating lease is required to: 1) recognize a right-of-use asset and a lease liability in the statement of financial position, 2) recognize a single lease cost allocated over the lease term generally on a straight-line basis, and 3) classify all cash payments within operating activities on the statement of cash flows. See Note 6. Leases for more information. Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) and issued subsequent amendments to the initial guidance. The new standard requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model, which includes historical experience, current conditions, and reasonable and supportable forecasts. The new standard also requires enhanced disclosure. The new standard will be effective for the Company beginning fiscal 2021. The Company is in the process of evaluating this new standard, however, the Company does not anticipate this to have a material impact. Defined Benefit Plans In August 2018, the FASB issued ASU 2018-14, Changes to the Disclosure Requirements for Defined Benefit Plans. The new standard removes requirements to disclose the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year and the effects of a one-percentage-point changes in assumed health care cost trend rates. The standard also adds requirements to disclose the reasons for significant gains and losses related to changes in the benefit obligations for the period and the accumulated benefit obligation ("ABO") for plans with ABOs in excess of plan assets. The new standard will be effective for the Company beginning fiscal 2022. The Company is currently evaluating the impact of the adoption of this standard to our disclosures. Income Taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740). The new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. The new standard will be effective for the Company beginning fiscal 2022. The Company is currently evaluating the impact of the adoption of this standard to our disclosures. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting (Topic 848). This standard provides temporary optional expedients and exceptions to the GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as SOFR. ASU 2020-04 is effective upon issuance and generally can be applied through the end of calendar year 2022. The Company is currently evaluating the impact and whether it plans to adopt the optional expedients and exceptions provided under this new standard.

Acquisitions and Dispositions (

Acquisitions and Dispositions (Tables)	9 Months Ended
	Jun. 27, 2020
Acquisitions and Dispositions [Abstract]
Final Purchase Price Allocation - RPC Group Plc	The following table summarizes the final purchase price allocation (in millions): Consideration Cash $ 6,084 Total consideration transferred 6,084 Identifiable assets acquired and liabilities assumed Working capital (a) 770 Property, plant and equipment 2,151 Identifiable intangible assets 1,670 Other assets 2 Other long-term liabilities (859 ) Goodwill 2,372 Net assets acquired and liabilities assumed 6,106 Noncontrolling interest (22 ) Total consideration transferred $ 6,084 (a)

Restructuring and Transaction_2

Restructuring and Transaction Activities (Tables)	9 Months Ended
	Jun. 27, 2020
Restructuring and Transaction Activities [Abstract]
Restructuring Charges by Segment	The table below includes the significant components of restructuring and transaction activities, by reporting segment: Quarterly Period Ended Three Quarterly Periods Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Consumer Packaging International $ 14 $ 2 $ 37 $ 6 Consumer Packaging North America 2 6 6 14 Engineered Materials 2 — 6 5 Health, Hygiene & Specialties 1 (8 ) 6 10 Consolidated $ 19 $ — $ 55 $ 35
Restructuring Accrual Activity	The table below sets forth the activity with respect to the restructuring and transaction activities accrual at June 27, 2020: Restructuring Employee Severance and Benefits Facility Exit Costs Non-cash Impairment Charges Transaction Activities Total Balance as of September 28, 2019 $ 2 $ 5 $ — $ — $ 7 Charges 24 1 2 28 55 Non-cash items — — (2 ) — (2 ) Cash payments (17 ) (2 ) — (28 ) (47 ) Balance as of June 27, 2020 $ 9 $ 4 $ — $ — $ 13

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jun. 27, 2020
Leases [Abstract]
Lease Assets and Liabilities	Supplemental lease information is as follows: Leases Classification June 27, 2020 Assets Operating lease right-of-use assets Right-of-use assets $ 563 Finance lease right-of-use assets Property, plant, and equipment 88 Current liabilities Operating lease liabilities Other current liabilities $ 111 Finance lease liabilities Current portion of long-term debt 17 Non-current liabilities Operating lease liabilities Operating lease liabilities $ 468 Finance lease liabilities Long-term debt, less current portion 71
Lease Cost	Lease cost Quarterly Period Ended June 27, 2020 Three Quarterly Periods Ended June 27, 2020 Operating lease cost $ 29 $ 86 Finance lease cost: Amortization of right-of-use assets 3 11 Interest on lease liabilities 1 3 Total finance lease cost 4 14 Short-term lease cost 3 11 Total lease cost $ 36 $ 111
Cash Paid for Amounts Included in Lease Liabilities	Cash paid for amounts included in lease liabilities Three Quarterly Periods Ended June 27, 2020 Operating cash flows from operating leases $ 86 Operating cash flows from finance leases 3 Financing cash flows from finance leases 25
Weighted Average Remaining Lease Terms and Discount Rates	June 27, 2020 Weighted-average remaining lease term - operating leases 8 years Weighted-average remaining lease term - finance leases 4 years Weighted-average discount rate - operating leases 4.6 % Weighted-average discount rate - finance leases 3.7 %
Annual Lease Commitments Under Operating and Finance Leases	At June 27, 2020, annual lease commitments were as follows: Fiscal Year Operating Leases Finance Leases Remainder of 2020 $ 35 $ 8 2021 108 22 2022 100 26 2023 85 16 2024 70 6 Thereafter 303 15 Total lease payments 701 93 Less: Interest (122 ) (5 ) Present value of lease liabilities $ 579 $ 88

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Jun. 27, 2020
Long-Term Debt [Abstract]
Long-Term Debt	Long-term debt consists of the following: Facility Maturity Date June 27, 2020 September 28, 2019 Term loan October 2022 $ 1,545 $ 1,545 Term loan January 2024 450 489 Term loan July 2026 4,218 4,250 Revolving line of credit May 2024 — — 5.50% Second Priority Senior Secured Notes May 2022 150 500 6.00% Second Priority Senior Secured Notes October 2022 200 400 5.125% Second Priority Senior Secured Notes July 2023 700 700 1.00% First Priority Senior Secured Notes (a) July 2025 786 — 4.50% Second Priority Senior Secured Notes February 2026 500 500 4.875% First Priority Senior Secured Notes July 2026 1,250 1,250 5.625% Second Priority Senior Secured Notes July 2027 500 500 1.50% First Priority Senior Secured Notes (a) July 2027 421 — Debt discounts and deferred fees (92 ) (112 ) Finance leases and other Various 132 167 Retired debt — 1,176 Total long-term debt 10,760 11,365 Current portion of long-term debt (70 ) (104 ) Long-term debt, less current portion $ 10,690 11,261 (a)

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Jun. 27, 2020
Financial Instruments and Fair Value Measurements [Abstract]
Fair Value of Derivatives and Location on Consolidated Balance Sheets	The Company records the fair value positions of all derivative financial instruments on a net basis by counterparty for which a master netting arrangement is utilized. Balances on a gross basis are as follows: Derivative Instruments Hedge Designation Balance Sheet Location June 27, 2020 September 28, 2019 Cross-currency swaps Designated Other assets $ — $ 88 Cross-currency swaps Designated Other long-term liabilities 153 — Interest rate swaps Designated Other long-term liabilities 228 81
Effect of Derivatives on Consolidated Statements of Income	The effect of the Company's derivative instruments on the Consolidated Statements of Income is as follows: Quarterly Period Ended Three Quarterly Periods Ended Derivative Instruments Statements of Income Location June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Cross-currency swaps Interest expense, net $ (2 ) $ (2 ) $ (5 ) $ (5 ) Cross-currency swaps Other expense, net — 18 — 18 Foreign exchange forward contracts Other expense, net — 120 — 138 Interest rate swaps Interest expense, net 13 (4 ) 17 (13 )
Assets Measured at Fair Value on Non-recurring Basis	Included in the following table are the major categories of assets measured at fair value on a non-recurring basis as of June 27, 2020 and September 28, 2019, along with the impairment loss recognized on the fair value measurement during the period: As of June 27, 2020 Level 1 Level 2 Level 3 Total Impairment Indefinite-lived trademarks $ — $ — $ 248 $ 248 $ — Goodwill — — 5,184 5,184 — Definite lived intangible assets — — 2,288 2,288 — Property, plant, and equipment — — 4,481 4,481 2 Total $ — $ — $ 12,201 $ 12,201 $ 2 As of September 28, 2019 Level 1 Level 2 Level 3 Total Impairment Indefinite-lived trademarks $ — $ — $ 248 $ 248 $ — Goodwill — — 5,051 5,051 — Definite lived intangible assets — — 2,532 2,532 — Property, plant, and equipment — — 4,714 4,714 8 Total $ — $ — $ 12,545 $ 12,545 $ 8

Segment and Geographic Data (Ta

Segment and Geographic Data (Tables)	9 Months Ended
	Jun. 27, 2020
Segment and Geographic Data [Abstract]
Selected Information by Reportable Segment	Selected information by reportable segment is presented in the following tables: Quarterly Period Ended Three Quarterly Periods Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net sales: Consumer Packaging International $ 1,020 $ 52 $ 3,125 $ 153 Consumer Packaging North America 718 652 2,104 1,892 Engineered Materials 564 630 1,747 1,910 Health, Hygiene & Specialties 608 603 1,725 1,904 Total net sales $ 2,910 $ 1,937 $ 8,701 $ 5,859 Operating income: Consumer Packaging International $ 89 $ (1 ) $ 195 $ (2 ) Consumer Packaging North America 93 73 226 168 Engineered Materials 81 83 239 250 Health, Hygiene & Specialties 84 60 170 160 Total operating income $ 347 $ 215 $ 830 $ 576 Depreciation and amortization: Consumer Packaging International $ 79 $ 4 $ 240 $ 12 Consumer Packaging North America 62 50 190 156 Engineered Materials 25 27 80 87 Health, Hygiene & Specialties 43 46 128 142 Total depreciation and amortization $ 209 $ 127 $ 638 $ 397
Selected Information by Geographical Region	Selected information by geographical region is presented in the following tables: Quarterly Period Ended Three Quarterly Periods Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net sales: United States and Canada $ 1,430 $ 1,556 $ 4,648 $ 4,672 Europe 1,172 200 3,156 614 Rest of world 308 181 897 573 Total net sales $ 2,910 $ 1,937 $ 8,701 $ 5,859
Selected Information by Product Line	Selected information by product line is presented in the following tables: Quarterly Period Ended Three Quarterly Periods Ended June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Net sales: Packaging 84 100 82 100 Non-packaging 16 — 18 — Consumer Packaging International 100 % 100 % 100 % 100 % Rigid Open Top 44 47 45 45 Rigid Closed Top 56 53 55 55 Consumer Packaging North America 100 % 100 % 100 % 100 % Core Films 38 40 38 40 Retail & Industrial 62 60 62 60 Engineered Materials 100 % 100 % 100 % 100 % Health 22 15 19 15 Hygiene 52 52 53 54 Specialties 26 33 28 31 Health, Hygiene & Specialties 100 % 100 % 100 % 100 %

Basic and Diluted Net Income _2

Basic and Diluted Net Income Per Share (Tables)	9 Months Ended
	Jun. 27, 2020
Basic and Diluted Net Income Per Share [Abstract]
Basic and Diluted Net Income Per Share	The following tables provide a reconciliation of the numerator and denominator of the basic and diluted net income per share calculations. Quarterly Period Ended Three Quarterly Periods Ended (in millions, except per share amounts) June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 Numerator Consolidated net income $ 191 $ 13 $ 364 $ 175 Denominator Weighted average common shares outstanding - basic 132.5 131.5 132.4 131.0 Dilutive shares 1.7 2.7 1.9 3.0 Weighted average common and common equivalent shares outstanding - diluted 134.2 134.2 134.3 134.0 Per common share income Basic $ 1.44 $ 0.10 $ 2.75 $ 1.34 Diluted $ 1.42 $ 0.10 $ 2.71 $ 1.31

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Jun. 27, 2020
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	The components and activity of Accumulated other comprehensive loss are as follows: Quarterly Period Ended Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at March 28, 2020 $ (344 ) $ (57 ) $ (147 ) $ (548 ) Other comprehensive income (loss), net of tax before reclassifications 11 — (23 ) (12 ) Net amount reclassified from accumulated other comprehensive loss — — 10 10 Balance at June 27, 2020 $ (333 ) $ (57 ) $ (160 ) $ (550 ) Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at March 30, 2019 $ (173 ) $ (13 ) $ — $ (186 ) Other comprehensive income (loss), net of tax before reclassifications 10 — (32 ) (22 ) Net amount reclassified from accumulated other comprehensive loss — — (3 ) (3 ) Balance at June 29, 2019 $ (163 ) $ (13 ) $ (35 ) $ (211 ) Three Quarterly Periods Ended Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at September 28, 2019 $ (279 ) $ (56 ) $ (51 ) $ (386 ) Other comprehensive loss, net of tax before reclassifications (54 ) (1 ) (126 ) (181 ) Net amount reclassified from accumulated other comprehensive loss — — 17 17 Balance at June 27, 2020 $ (333 ) $ (57 ) $ (160 ) $ (550 ) Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at September 29, 2018 $ (175 ) $ (13 ) $ 32 $ (156 ) Other comprehensive income (loss), net of tax before reclassifications 12 — (59 ) (47 ) Net amount reclassified from accumulated other comprehensive loss — — (8 ) (8 ) Balance at June 29, 2019 $ (163 ) $ (13 ) $ (35 ) $ (211 )

Revenue and Accounts Receivab_2

Revenue and Accounts Receivable (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Sep. 28, 2019
Revenue and Accounts Receivable [Abstract]
Accrual for customer rebates	$ 93		$ 93		$ 114
Net sales available under qualifying U.S. based factoring agreements	242	$ 241	700	$ 656
Amounts due from financial institutions	$ 0	$ 0	$ 0	$ 0

Acquisitions and Dispositions,

Acquisitions and Dispositions, RPC Group Plc (Details) $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
		Jul. 31, 2019USD ($)	Jun. 27, 2020USD ($)SiteCountry	Jun. 29, 2019USD ($)	Jun. 27, 2020USD ($)SiteCountry	Jun. 29, 2019USD ($)
RPC Group Plc [Abstract]
Net sales			$ 2,910	$ 1,937	$ 8,701	$ 5,859
Operating income			$ 347	215	$ 830	576
First Priority Senior Secured Notes due 2026 [Member]
RPC Group Plc [Abstract]
Face amount of debt issued		$ 1,250
Second Priority Senior Secured Notes due 2027 [Member]
RPC Group Plc [Abstract]
Face amount of debt issued		500
RPC [Member]
RPC Group Plc [Abstract]
Number of operating sites | Site			189		189
Number of countries where operating sites are located | Country			34		34
Net sales			$ 1,092		$ 3,346
Operating income			111		245
Remeasurement Adjustments [Abstract]
Working capital					70
Property, plant and equipment					(224)
Deferred tax liabilities					(67)
Noncontrolling interest					22
Consideration [Abstract]
Cash consideration transferred		$ 6,084
Identifiable Assets Acquired and Liabilities Assumed [Abstract]
Working capital	[1]		770		770
Property, plant and equipment			2,151		2,151
Identifiable intangible assets			1,670		1,670
Other assets			2		2
Other long-term liabilities			(859)		(859)
Goodwill			2,372		2,372
Net assets acquired and liabilities assumed			6,106		6,106
Noncontrolling interest			(22)		(22)
Total consideration transferred			6,084		6,084
Step up of inventory to fair value			58		58
Pro Forma Information [Abstract]
Pro forma net sales				3,300		9,600
Pro forma net income				$ 38		$ 217
RPC [Member] | Customer Relationships [Member]
Remeasurement Adjustments [Abstract]
Intangible assets					(135)
RPC [Member] | Trade Names [Member]
Remeasurement Adjustments [Abstract]
Intangible assets					93
RPC [Member] | Consumer Packaging International [Member]
RPC Group Plc [Abstract]
Net sales			968		2,972
Operating income			$ 90		$ 196
[1]	Includes a $58 million step up of inventory to fair value

Acquisitions and Dispositions_2

Acquisitions and Dispositions, Seal for Life (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 31, 2019	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Sep. 28, 2019
Seal For Life [Abstract]
Net sales		$ 2,910	$ 1,937	$ 8,701	$ 5,859
SFL [Member]
Seal For Life [Abstract]
Proceeds from sale of business	$ 325
Net sales						$ 96

Restructuring and Transaction_3

Restructuring and Transaction Activities, Restructuring Charges by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Restructuring Charges [Abstract]
Restructuring and transaction activities	$ 19	$ 0	$ 55	$ 35
Consumer Packaging International [Member]
Restructuring Charges [Abstract]
Restructuring and transaction activities	14	2	37	6
Consumer Packaging North America [Member]
Restructuring Charges [Abstract]
Restructuring and transaction activities	2	6	6	14
Engineered Materials [Member]
Restructuring Charges [Abstract]
Restructuring and transaction activities	2	0	6	5
Health, Hygiene & Specialties [Member]
Restructuring Charges [Abstract]
Restructuring and transaction activities	$ 1	$ (8)	$ 6	$ 10

Restructuring and Transaction_4

Restructuring and Transaction Activities, Restructuring Accrual Activity (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 27, 2020	Sep. 28, 2019
Restructuring Accrual [Roll Forward]
Beginning balance	$ 7
Charges	55
Non-cash items	(2)	$ (8)
Cash payments	(47)
Ending balance	13	7
Employee Severance and Benefits [Member]
Restructuring Accrual [Roll Forward]
Beginning balance	2
Charges	24
Non-cash items	0
Cash payments	(17)
Ending balance	9	2
Facility Exit Costs [Member]
Restructuring Accrual [Roll Forward]
Beginning balance	5
Charges	1
Non-cash items	0
Cash payments	(2)
Ending balance	4	5
Non-Cash Impairment Charges [Member]
Restructuring Accrual [Roll Forward]
Beginning balance	0
Charges	2
Non-cash items	(2)
Cash payments	0
Ending balance	0	0
Transaction Activities [Member]
Restructuring Accrual [Roll Forward]
Beginning balance	0
Charges	28
Non-cash items	0
Cash payments	(28)
Ending balance	$ 0	$ 0

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 27, 2020	Jun. 27, 2020	Sep. 28, 2019
Assets [Abstract]
Operating lease right-of-use assets	$ 563	$ 563	$ 0
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OperatingLeaseRightOfUseAsset	us-gaap:OperatingLeaseRightOfUseAsset
Finance lease right-of-use assets	$ 88	$ 88
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet	us-gaap:PropertyPlantAndEquipmentNet
Current Liabilities [Abstract]
Operating lease liabilities	$ 111	$ 111
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Finance lease liabilities	$ 17	$ 17
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent	us-gaap:LongTermDebtAndCapitalLeaseObligationsCurrent
Non-current Liabilities [Abstract]
Operating lease liabilities	$ 468	$ 468	$ 0
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OperatingLeaseLiabilityNoncurrent	us-gaap:OperatingLeaseLiabilityNoncurrent
Finance lease liabilities	$ 71	$ 71
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligations	us-gaap:LongTermDebtAndCapitalLeaseObligations
Lease Cost [Abstract]
Operating lease cost	$ 29	$ 86
Finance Lease Cost [Abstract]
Amortization of right-of-use assets	3	11
Interest on lease liabilities	1	3
Total finance lease cost	4	14
Short-term lease cost	3	11
Total lease cost	$ 36	111
Cash Paid for Amounts Included in Lease Liabilities [Abstract]
Operating cash flows from operating leases		86
Operating cash flows from finance leases		3
Financing cash flows from finance leases		$ 25
Supplemental Lease Information [Abstract]
Weighted-average remaining lease term - operating leases	8 years	8 years
Weighted-average remaining lease term - finance leases	4 years	4 years
Weighted-average discount rate - operating leases	4.60%	4.60%
Weighted-average discount rate - finance leases	3.70%	3.70%
Right-of-use assets obtained in exchange for operating lease liabilities	$ 2	$ 15
Annual Lease Commitments for Operating Leases [Abstract]
Remainder of 2020	35	35
2021	108	108
2022	100	100
2023	85	85
2024	70	70
Thereafter	303	303
Total lease payments	701	701
Less: Interest	(122)	(122)
Present value of lease liabilities	579	579
Annual Lease Commitments for Finance Leases [Abstract]
Remainder of 2020	8	8
2021	22	22
2022	26	26
2023	16	16
2024	6	6
Thereafter	15	15
Total lease payments	93	93
Less: Interest	(5)	(5)
Present value of lease liabilities	$ 88	$ 88

Long-Term Debt, Summary (Detail

Long-Term Debt, Summary (Details) € in Millions, $ in Millions	9 Months Ended
	Jun. 27, 2020USD ($)		Jun. 27, 2020EUR (€)	Jan. 31, 2020	Sep. 28, 2019USD ($)
Long-term Debt [Abstract]
Debt discounts and deferred fees	$ (92)				$ (112)
Finance leases and other	132				167
Total long-term debt	10,760				11,365
Current portion of long-term debt	(70)				(104)
Long-term debt, less current portion	10,690				11,261
Term Loan due October 2022 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 1,545				1,545
Maturity date	Oct. 31, 2022
Term Loan due January 2024 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 450				489
Maturity date	Jan. 31, 2024
Term Loan due July 2026 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 4,218				4,250
Maturity date	Jul. 31, 2026
Revolving Line of Credit [Member]
Long-term Debt [Abstract]
Long-term debt	$ 0				0
Maturity date	May 31, 2024
5.50% Second Priority Senior Secured Notes due May 2022 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 150				500
Interest rate	5.50%		5.50%
Maturity date	May 31, 2022
6.00% Second Priority Senior Secured Notes due October 2022 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 200				400
Interest rate	6.00%		6.00%
Maturity date	Oct. 31, 2022
5.125% Second Priority Senior Secured Notes due July 2023 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 700				700
Interest rate	5.125%		5.125%
Maturity date	Jul. 31, 2023
1.00% First Priority Senior Secured Notes due July 2025 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 786	[1]			0
Interest rate	1.00%		1.00%	1.00%
Maturity date	Jul. 31, 2025
4.50% Second Priority Senior Secured Notes due February 2026 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 500				500
Interest rate	4.50%		4.50%
Maturity date	Feb. 28, 2026
4.875% First Priority Senior Secured Notes due July 2026 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 1,250				1,250
Interest rate	4.875%		4.875%
Maturity date	Jul. 31, 2026
5.625% Second Priority Senior Secured Notes due July 2027 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 500				500
Interest rate	5.625%		5.625%
Maturity date	Jul. 31, 2027
1.50% First Priority Senior Secured Notes due July 2027 [Member]
Long-term Debt [Abstract]
Long-term debt	$ 421	[1]			0
Interest rate	1.50%		1.50%	1.50%
Maturity date	Jul. 31, 2027
Retired Debt [Member]
Long-term Debt [Abstract]
Long-term debt	$ 0		€ 785		$ 1,176
[1]	Euro denominated

Long-Term Debt, Fiscal 2020 Act

Long-Term Debt, Fiscal 2020 Activity (Details) € in Millions, $ in Millions	1 Months Ended
	Jan. 31, 2020USD ($)	Jun. 27, 2020	Jan. 31, 2020EUR (€)
1.00% First Priority Senior Secured Notes due July 2025 [Member]
Long-Term Debt [Abstract]
Face amount of debt issued | €			€ 700
Interest rate	1.00%	1.00%	1.00%
1.50% First Priority Senior Secured Notes due July 2027 [Member]
Long-Term Debt [Abstract]
Face amount of debt issued | €			€ 375
Interest rate	1.50%	1.50%	1.50%
Term Loan due July 2026 [Member]
Long-Term Debt [Abstract]
Face amount of debt issued | $	$ 4,250
Interest rate reduction	(0.50%)
Term Loan - Euro Denominated due July 2026 [Member] | Other Expense, Net [Member]
Long-Term Debt [Abstract]
Debt extinguishment costs | $	$ 18

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements, Cross-Currency Swaps (Details) € in Millions, £ in Millions, $ in Millions	9 Months Ended
	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 27, 2020EUR (€)	Jun. 27, 2020GBP (£)	Sep. 28, 2019USD ($)
Cross-Currency Swaps [Abstract]
Proceeds from settlement of net investment hedges | $	$ 281	$ 0
Term Loan - Euro Denominated due July 2026 [Member]
Cross-Currency Swaps [Abstract]
Long-term debt	0		€ 785		$ 1,176
Cross-Currency Swaps [Member]
Cross-Currency Swaps [Abstract]
Proceeds from settlement of net investment hedges | $	$ 281
Cross-Currency Swap Maturing May 2022 [Member]
Cross-Currency Swaps [Abstract]
Notional amount of swap | €			250
Cross-Currency Swap Maturing June 2024 [Member]
Cross-Currency Swaps [Abstract]
Notional amount of swap | €			€ 1,625
Cross-Currency Swap Maturing July 2027 [Member]
Cross-Currency Swaps [Abstract]
Notional amount of swap | £				£ 700

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements, Interest Rate Swaps (Details) $ in Millions	9 Months Ended
	Jun. 27, 2020USD ($)
Interest Rate Swap Expiring June 2026 [Member]
Interest Rate Swaps [Abstract]
Notional amount of swap	$ 450
Fixed annual rate of swap	1.398%
Interest Rate Swap Expiring June 2026 [Member] | LIBOR [Member]
Interest Rate Swaps [Abstract]
Term of variable rate	1 month
Interest Rate Swap Expiring June 2026 [Member]
Interest Rate Swaps [Abstract]
Notional amount of swap	$ 1,000
Fixed annual rate of swap	1.835%
Interest Rate Swap Expiring June 2026 [Member] | LIBOR [Member]
Interest Rate Swaps [Abstract]
Term of variable rate	1 month
Interest Rate Swap Expiring June 2026 [Member]
Interest Rate Swaps [Abstract]
Notional amount of swap	$ 400
Fixed annual rate of swap	1.916%
Interest Rate Swap Expiring June 2026 [Member] | LIBOR [Member]
Interest Rate Swaps [Abstract]
Term of variable rate	1 month
Interest Rate Swap Expiring June 2024 [Member]
Interest Rate Swaps [Abstract]
Notional amount of swap	$ 884
Fixed annual rate of swap	1.857%
Interest Rate Swap Expiring June 2024 [Member] | LIBOR [Member]
Interest Rate Swaps [Abstract]
Term of variable rate	1 month
Interest Rate Swap Expiring June 2024 [Member]
Interest Rate Swaps [Abstract]
Notional amount of swap	$ 473
Fixed annual rate of swap	2.05%
Interest Rate Swap Expiring June 2024 [Member] | LIBOR [Member]
Interest Rate Swaps [Abstract]
Term of variable rate	1 month

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements, Fair Value of Derivative and Location on Consolidated Balance Sheets (Details) - Designated [Member] - USD ($) $ in Millions	Jun. 27, 2020	Sep. 28, 2019
Cross-Currency Swaps [Member] | Other Assets [Member]
Derivative Instruments [Abstract]
Fair value of derivative instruments	$ 0	$ 88
Cross-Currency Swaps [Member] | Other Long-Term Liabilities [Member]
Derivative Instruments [Abstract]
Fair value of derivative instruments	153	0
Interest Rate Swaps [Member] | Other Long-Term Liabilities [Member]
Derivative Instruments [Abstract]
Fair value of derivative instruments	$ 228	$ 81

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements, Effect of Derivatives on Consolidated Statements of Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Cross-Currency Swaps [Member] | Interest Expense, Net [Member]
Derivative Instruments [Abstract]
Loss (gain) on derivative instruments	$ (2)	$ (2)	$ (5)	$ (5)
Cross-Currency Swaps [Member] | Other Expense, Net [Member]
Derivative Instruments [Abstract]
Loss (gain) on derivative instruments	0	18	0	18
Foreign Exchange Forward Contracts [Member] | Other Expense, Net [Member]
Derivative Instruments [Abstract]
Loss (gain) on derivative instruments	0	120	0	138
Interest Rate Swaps [Member] | Interest Expense, Net [Member]
Derivative Instruments [Abstract]
Loss (gain) on derivative instruments	$ 13	$ (4)	$ 17	$ (13)

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements, Assets Measured at Fair Value on Non-Recurring Basis (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 27, 2020	Sep. 28, 2019
Impairment [Abstract]
Indefinite-lived trademarks	$ 0	$ 0
Goodwill	0	0
Definite lived intangible assets	0	0
Property, plant, and equipment	2	8
Impairment charges	2	8
Fair Value Adjustment [Abstract]
Fair value of long-term indebtedness greater/(less) than book value	(31)
Fair Value on Nonrecurring Basis [Member]
Fair Value of Assets [Abstract]
Indefinite-lived trademarks	248	248
Goodwill	5,184	5,051
Definite lived intangible assets	2,288	2,532
Property, plant, and equipment	4,481	4,714
Total	12,201	12,545
Fair Value on Nonrecurring Basis [Member] | Level 1 [Member]
Fair Value of Assets [Abstract]
Indefinite-lived trademarks	0	0
Goodwill	0	0
Definite lived intangible assets	0	0
Property, plant, and equipment	0	0
Total	0	0
Fair Value on Nonrecurring Basis [Member] | Level 2 [Member]
Fair Value of Assets [Abstract]
Indefinite-lived trademarks	0	0
Goodwill	0	0
Definite lived intangible assets	0	0
Property, plant, and equipment	0	0
Total	0	0
Fair Value on Nonrecurring Basis [Member] | Level 3 [Member]
Fair Value of Assets [Abstract]
Indefinite-lived trademarks	248	248
Goodwill	5,184	5,051
Definite lived intangible assets	2,288	2,532
Property, plant, and equipment	4,481	4,714
Total	$ 12,201	$ 12,545

Segment and Geographic Data, Se

Segment and Geographic Data, Selected Information by Reportable Segment (Details) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020USD ($)	Jun. 29, 2019USD ($)	Jun. 27, 2020USD ($)Segment	Jun. 29, 2019USD ($)
Segment and Geographic Data [Abstract]
Number of reporting segments | Segment			4
Selected Information by Reportable Segment [Abstract]
Net sales	$ 2,910	$ 1,937	$ 8,701	$ 5,859
Operating income	347	215	830	576
Depreciation and amortization	209	127	638	397
Operating Segment [Member] | Consumer Packaging International [Member]
Selected Information by Reportable Segment [Abstract]
Net sales	1,020	52	3,125	153
Operating income	89	(1)	195	(2)
Depreciation and amortization	79	4	240	12
Operating Segment [Member] | Consumer Packaging North America [Member]
Selected Information by Reportable Segment [Abstract]
Net sales	718	652	2,104	1,892
Operating income	93	73	226	168
Depreciation and amortization	62	50	190	156
Operating Segment [Member] | Engineered Materials [Member]
Selected Information by Reportable Segment [Abstract]
Net sales	564	630	1,747	1,910
Operating income	81	83	239	250
Depreciation and amortization	25	27	80	87
Operating Segment [Member] | Health, Hygiene & Specialties [Member]
Selected Information by Reportable Segment [Abstract]
Net sales	608	603	1,725	1,904
Operating income	84	60	170	160
Depreciation and amortization	$ 43	$ 46	$ 128	$ 142

Segment and Geographic Data, _2

Segment and Geographic Data, Selected Information by Geographical Region (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Selected Information by Geography [Abstract]
Net sales	$ 2,910	$ 1,937	$ 8,701	$ 5,859
Reportable Geography [Member] | United States and Canada [Member]
Selected Information by Geography [Abstract]
Net sales	1,430	1,556	4,648	4,672
Reportable Geography [Member] | Europe [Member]
Selected Information by Geography [Abstract]
Net sales	1,172	200	3,156	614
Reportable Geography [Member] | Rest of World [Member]
Selected Information by Geography [Abstract]
Net sales	$ 308	$ 181	$ 897	$ 573

Segment and Geographic Data, _3

Segment and Geographic Data, Selected Information by Product Line (Details) - Net Sales [Member] - Product Concentration Risk [Member]	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Consumer Packaging International [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	100.00%	100.00%	100.00%	100.00%
Consumer Packaging International [Member] | Packaging [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	84.00%	100.00%	82.00%	100.00%
Consumer Packaging International [Member] | Non-packaging [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	16.00%	0.00%	18.00%	0.00%
Consumer Packaging North America [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	100.00%	100.00%	100.00%	100.00%
Consumer Packaging North America [Member] | Rigid Open Top [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	44.00%	47.00%	45.00%	45.00%
Consumer Packaging North America [Member] | Rigid Closed Top [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	56.00%	53.00%	55.00%	55.00%
Engineered Materials [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	100.00%	100.00%	100.00%	100.00%
Engineered Materials [Member] | Core Films [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	38.00%	40.00%	38.00%	40.00%
Engineered Materials [Member] | Retail & Industrial [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	62.00%	60.00%	62.00%	60.00%
Health, Hygiene & Specialties [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	100.00%	100.00%	100.00%	100.00%
Health, Hygiene & Specialties [Member] | Health [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	22.00%	15.00%	19.00%	15.00%
Health, Hygiene & Specialties [Member] | Hygiene [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	52.00%	52.00%	53.00%	54.00%
Health, Hygiene & Specialties [Member] | Specialties [Member]
Selected Information by Product Line [Abstract]
Concentration risk percentage	26.00%	33.00%	28.00%	31.00%

Share Repurchase Program (Detai

Share Repurchase Program (Details) $ in Millions	9 Months Ended
	Jun. 27, 2020USD ($)shares
Share Repurchase Program [Abstract]
Number of shares repurchased and retired (in shares) | shares	0
Remaining amount of share repurchase program | $	$ 393

Basic and Diluted Net Income _3

Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Numerator [Abstract]
Consolidated net income	$ 191	$ 13	$ 364	$ 175
Denominator [Abstract]
Weighted average common shares outstanding - basic (in shares)	132.5	131.5	132.4	131
Dilutive shares (in shares)	1.7	2.7	1.9	3
Weighted average common and common equivalent shares outstanding - diluted (in shares)	134.2	134.2	134.3	134
Per Common Share Income [Abstract]
Basic (in dollars per share)	$ 1.44	$ 0.10	$ 2.75	$ 1.34
Diluted (in dollars per share)	$ 1.42	$ 0.10	$ 2.71	$ 1.31
Stock Options [Member]
Basic and Diluted Net Income Per Share [Abstract]
Antidilutive shares excluded from computation of earnings per share (in shares)	7.1		7.1

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Accumulated Other Comprehensive Loss [Roll Forward]
Other comprehensive income (loss), net of tax before reclassifications	$ (12)	$ (22)	$ (181)	$ (47)
Net amount reclassified from accumulated other comprehensive loss	10	(3)	17	(8)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(548)	(186)	(386)	(156)
Ending balance	(550)	(211)	(550)	(211)
Currency Translation [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(344)	(173)	(279)	(175)
Other comprehensive income (loss), net of tax before reclassifications	11	10	(54)	12
Net amount reclassified from accumulated other comprehensive loss	0	0	0	0
Ending balance	(333)	(163)	(333)	(163)
Defined Benefit Pension and Retiree Health Benefit Plans [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(57)	(13)	(56)	(13)
Other comprehensive income (loss), net of tax before reclassifications	0	0	(1)	0
Net amount reclassified from accumulated other comprehensive loss	0	0	0	0
Ending balance	(57)	(13)	(57)	(13)
Derivative Instruments [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(147)	0	(51)	32
Other comprehensive income (loss), net of tax before reclassifications	(23)	(32)	(126)	(59)
Net amount reclassified from accumulated other comprehensive loss	10	(3)	17	(8)
Ending balance	$ (160)	$ (35)	$ (160)	$ (35)