Berry Global (BERY) 10-Q 5 May 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	6 Months Ended
	Apr. 02, 2022	May 05, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Apr. 2, 2022
Current Fiscal Year End Date	--10-02
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-35672
Entity Registrant Name	BERRY GLOBAL GROUP, INC.
Entity Central Index Key	0001378992
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
Entity Tax Identification Number	20-5234618
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	BERY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		130.3

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Apr. 02, 2022	Apr. 03, 2021
Consolidated Statements of Income [Abstract]
Net sales	$ 3,775	$ 3,370	$ 7,348	$ 6,506
Costs and expenses:
Cost of goods sold	3,154	2,706	6,192	5,224
Selling, general and administrative	207	220	442	461
Amortization of intangibles	65	73	133	147
Restructuring and transaction activities	8	38	11	37
Operating income	341	333	570	637
Other expense	6	6	6	31
Interest expense	71	84	142	181
Income before income taxes	264	243	422	425
Income tax expense	59	62	96	114
Net income	$ 205	$ 181	$ 326	$ 311
Net income per share:
Basic (in dollars per share)	$ 1.53	$ 1.35	$ 2.42	$ 2.32
Diluted (in dollars per share)	$ 1.50	$ 1.32	$ 2.36	$ 2.28

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Apr. 02, 2022	Apr. 03, 2021
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 205	$ 181	$ 326	$ 311
Other comprehensive income, net of tax:
Currency translation	37	(73)	15	105
Derivative instruments	71	54	100	71
Other comprehensive income (loss)	108	(19)	115	176
Comprehensive income	$ 313	$ 162	$ 441	$ 487

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Apr. 02, 2022	Oct. 02, 2021
Current assets:
Cash and cash equivalents	$ 622	$ 1,091
Accounts receivable	1,996	1,879
Finished goods	1,032	960
Raw materials and supplies	932	947
Prepaid expenses and other current assets	401	217
Total current assets	4,983	5,094
Noncurrent assets:
Property, plant and equipment	4,650	4,677
Goodwill and intangible assets	7,183	7,434
Right-of-use assets	536	562
Other assets	183	115
Total assets	17,535	17,882
Current liabilities:
Accounts payable	1,651	2,041
Accrued employee costs	250	336
Other current liabilities	824	788
Current portion of long-term debt	19	21
Total current liabilities	2,744	3,186
Noncurrent liabilities:
Long-term debt	9,627	9,439
Deferred income taxes	569	568
Employee benefit obligations	244	276
Operating lease liabilities	443	466
Other long-term liabilities	588	767
Total liabilities	14,215	14,702
Stockholders' equity:
Common stock 130.4 and 135.5 million shares issued, respectively)	1	1
Additional paid-in capital	1,174	1,134
Retained earnings	2,326	2,341
Accumulated other comprehensive loss	(181)	(296)
Total stockholders' equity	3,320	3,180
Total liabilities and stockholders' equity	$ 17,535	$ 17,882

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares shares in Millions	Apr. 02, 2022	Oct. 02, 2021
Stockholders' equity:
Common stock, shares issued (in shares)	130.4	135.5

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Total
Balance at Sep. 26, 2020	$ 1	$ 1,034	$ (551)	$ 1,608	$ 2,092
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	311	311
Other comprehensive income (loss)	0	0	176	0	176
Share-based compensation	0	28	0	0	28
Proceeds from issuance of common stock	0	39	0	0	39
Balance at Apr. 03, 2021	1	1,101	(375)	1,919	2,646
Balance at Jan. 02, 2021	1	1,062	(356)	1,738	2,445
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	181	181
Other comprehensive income (loss)	0	0	(19)	0	(19)
Share-based compensation	0	7	0	0	7
Proceeds from issuance of common stock	0	32	0	0	32
Balance at Apr. 03, 2021	1	1,101	(375)	1,919	2,646
Balance at Oct. 02, 2021	1	1,134	(296)	2,341	3,180
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	326	326
Other comprehensive income (loss)	0	0	115	0	115
Share-based compensation	0	28	0	0	28
Proceeds from issuance of common stock	0	22	0	0	22
Common stock repurchased and retired	0	(10)	0	(341)	(351)
Balance at Apr. 02, 2022	1	1,174	(181)	2,326	3,320
Balance at Jan. 01, 2022	1	1,170	(289)	2,412	3,294
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	0	0	0	205	205
Other comprehensive income (loss)	0	0	108	0	108
Share-based compensation	0	7	0	0	7
Proceeds from issuance of common stock	0	6	0	0	6
Common stock repurchased and retired	0	(9)	0	(291)	(300)
Balance at Apr. 02, 2022	$ 1	$ 1,174	$ (181)	$ 2,326	$ 3,320

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Cash Flows from Operating Activities:
Net income	$ 326	$ 311
Adjustments to reconcile net cash from operating activities:
Depreciation	284	280
Amortization of intangibles	133	147
Non-cash interest expense	8	16
Deferred income tax	(43)	(28)
Share-based compensation expense	28	28
Other non-cash operating activities, net	(14)	51
Changes in working capital	(714)	(156)
Changes in other assets and liabilities	(22)	(11)
Net cash from operating activities	(14)	638
Cash Flows from Investing Activities:
Additions to property, plant and equipment, net	(367)	(364)
Divestiture of business	3	143
Net cash from investing activities	(364)	(221)
Cash Flows from Financing Activities:
Proceeds from long-term borrowings	244	2,316
Repayments on long-term borrowings	(9)	(2,683)
Proceeds from issuance of common stock	22	39
Repurchase of common stock	(351)	0
Debt financing costs	0	(16)
Net cash from financing activities	(94)	(344)
Effect of currency translation on cash	3	20
Net change in cash and cash equivalents	(469)	93
Cash and cash equivalents at beginning of period	1,091	750
Cash and cash equivalents at end of period	$ 622	$ 843

Basis of Presentation

Basis of Presentation	6 Months Ended
	Apr. 02, 2022
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’s U.S. based results for fiscal 2022 and fiscal 2021 are based on a fifty-two and fifty-three week period, respectively. The extra week in fiscal 2021 occurred in the first quarter. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included, and all subsequent events up to the time of the filing have been evaluated. For further information, refer to the Company’s most recent Form 10-K filed with the Securities and Exchange Commission.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Apr. 02, 2022
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements Reference Rate Reform In 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	6 Months Ended
	Apr. 02, 2022
Revenue and Accounts Receivable [Abstract]
Revenue	3. Revenue and Accounts Receivable Our revenues are primarily derived from the sale of non-woven, flexible and rigid 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 c onsideration 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 is customer rebates. There are no material instances where variable consideration is constrained and not recorded at the initial time of sale. Generally, our revenue is recognized at a point in time for standard promised goods at the time of shipment, when title and risk of loss pass to the customer. The
Accounts Receivable	Accounts receivable are presented net of allowance for credit losses of $19 million and $21 million at April 2, 2022 and October 2, 2021, respectively. The Company records its current expected credit losses based on a variety of factors including historical loss experience and current customer financial condition. The changes to our current expected credit losses, write-off activity, and recoveries were not material for any of the periods presented. The Company has entered into various factoring agreements, including customer-based supply chain financing programs, to sell certain receivables to third-party financial institutions. Agreements which result in true sales of the transferred receivables, which occur when receivables are transferred without recourse to the Company, are reflected as a reduction of accounts receivable on the consolidated balance sheets and the proceeds are included in the cash flows from operating activities in the consolidated statements of cash flows. The fees associated with the transfer of receivables for all programs were not material for any of the periods presented.

Disposition

Disposition	6 Months Ended
	Apr. 02, 2022
Disposition [Abstract]
Disposition	4. Disposition During fiscal 2022, the Company reached an initial agreement to sell our roto molding business which is operated in the Consumer Packaging International segment for expected proceeds of $114 million, which is preliminary and subject to adjustment at closing. The Company reported fiscal 2021 net sales of $146 million related to the business. For the period ended April 2, 2022, the Company classified assets of $156 million and liabilities of $49 million as held for sale. The assets and liabilities held for sale are recorded in Prepaid expenses and other current assets, and Other current liabilities, respectively, on the Consolidated Balance Sheets.

Restructuring and Transaction A

Restructuring and Transaction Activities	6 Months Ended
	Apr. 02, 2022
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 Two Quarterly Periods Ended April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Consumer Packaging International $ 5 $ 38 $ 7 $ 41 Consumer Packaging North America 2 — 3 1 Health, Hygiene & Specialties — — (1 ) — Engineered Materials 1 — 2 (5 ) Consolidated $ 8 $ 38 $ 11 $ 37 The table below sets forth the activity with respect to the restructuring and transaction activities accrual at April 2, 2022: Restructuring Employee Severance and Benefits Facility Exit Costs Transaction Activities Total Balance as of October 2, 2021 $ 6 $ 5 $ — $ 11 Charges 3 6 2 11 Cash (3 ) (7 ) (2 ) (12 ) Balance as of April 2, 2022 $ 6 $ 4 $ — $ 10

Leases

Leases	6 Months Ended
	Apr. 02, 2022
Leases [Abstract]
Leases	6. Leases The Company leases certain manufacturing facilities, warehouses, office space, manufacturing equipment, office equipment, and automobiles. 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. Supplemental lease information is as follows: Leases Classification April 2, 2022 October 2, 2021 Operating leases: Operating lease right-of-use assets Right-of-use assets $ 536 $ 562 Current operating lease liabilities Other current liabilities 110 113 Noncurrent operating lease liabilities Operating lease liability 443 466 Finance leases: Finance lease right-of-use assets Property, plant, and equipment, net $ 47 $ 57 Current finance lease liability Current portion of long-term debt 13 14 Noncurrent finance lease liabilities Long-term debt, less current portion 30 38 Two Quarterly Periods Ended Lease Type Cash Flow Classification Lease Expense Category April 2, 2022 April 3, 2021 Operating Operating Lease cost $ 62 $ 57 Finance Operating Interest expense 1 1 Finance Financing - 9 16 Finance - Amortization of right-of-use assets 5 7 Right-of-use assets obtained in exchange for new operating lease liabilities were $9 million and $21 million for the quarterly and two quarterly periods ended April 2, 2022, respectively.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Apr. 02, 2022
Long-Term Debt [Abstract]
Long-Term Debt	7. Long-Term Debt Long-term debt consists of the following: Facility Maturity Date April 2, 2022 October 2, 2021 Term loan July 2026 $ 3,440 3,440 Revolving line of credit May 2024 244 — 0.95 February 2024 800 800 1.00 (a) July 2025 776 810 1.57 January 2026 1,525 1,525 4.875 July 2026 1,250 1,250 1.65 January 2027 400 400 1.50 (a) July 2027 416 434 4.50 February 2026 300 300 5.625 July 2027 500 500 Debt discounts and deferred fees (69 ) (77 ) Finance leases and other Various 64 78 Total long-term debt 9,646 9,460 Current portion of long-term debt (19 ) (21 ) Long-term debt, less current portion $ 9,627 9,439 (a) Euro denominated 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	6 Months Ended
	Apr. 02, 2022
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 April 2, 2022, 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). 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 April 2, 2022, 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 $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, (iii) 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 (iv) 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 April 2, 2022 October 2, 2021 Cross-currency swaps Designated Other long-term liabilities $ 222 $ 323 Interest rate swaps Designated Other assets 45 — Interest rate swaps Designated Other long-term liabilities — 82 Interest rate swaps Not designated Other assets 26 — Interest rate swaps Not designated Other long-term liabilities 68 49 The effect of the Company’s derivative instruments on the Consolidated Statements of Income is as follows: Quarterly Period Ended Two Quarterly Periods Ended Derivative Instruments Statements of Income Location April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Cross-currency swaps Interest expense $ (4 ) $ (1 ) $ (7 ) $ (4 ) Interest rate swaps Interest expense 12 17 24 34 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 2021 assessment. No impairment indicators were identified in the current quarter. Included in the following table are the major categories of assets measured at fair value on a non-recurring basis as of April 2, 2022 and October 2, 2021, along with the impairment loss recognized on the fair value measurement during the period: As of April 2, 2022 Level 1 Level 2 Level 3 Total Impairment Indefinite-lived trademarks $ — $ — $ 248 $ 248 $ — Goodwill — — 5,091 5,091 — Definite lived intangible assets — — 1,844 1,844 — Property, plant, and equipment — — 4,650 4,650 — Total $ — $ — $ 11,833 $ 11,833 $ — As of October 2, 2021 Level 1 Level 2 Level 3 Total Impairment Indefinite-lived trademarks $ — $ — $ 248 $ 248 $ — Goodwill — — 5,192 5,192 — Definite lived intangible assets — — 1,994 1,994 — Property, plant, and equipment — — 4,677 4,677 1 Total $ — $ — $ 12,111 $ 12,111 $ 1 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 of our marketable long-term indebtedness exceeded by $ million as of . The Company’s long-term debt fair values were determined using Level 2 inputs (substantially observable).

Income Taxes

Income Taxes	6 Months Ended
	Apr. 02, 2022
Income Taxes [Abstract]
Income Taxes	9. Income Taxes In comparison to the statutory rate, the higher effective tax rate for the quarter was negatively impacted by state taxes and global intangible low-taxed income provisions, partially offset by other discrete items.

Segment and Geographic Data

Segment and Geographic Data	6 Months Ended
	Apr. 02, 2022
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, Health, Hygiene & Specialties, and Engineered Materials. 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 Two Quarterly Periods Ended April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Net sales: Consumer Packaging International $ 1,139 $ 1,060 $ 2,195 $ 2,048 Consumer Packaging North America 880 731 1,732 1,417 Health, Hygiene & Specialties 822 781 1,640 1,521 Engineered Materials 934 798 1,781 1,520 Total net sales $ 3,775 $ 3,370 $ 7,348 $ 6,506 Operating income: Consumer Packaging International $ 97 $ 59 $ 166 $ 135 Consumer Packaging North America 85 77 131 136 Health, Hygiene & Specialties 69 114 131 210 Engineered Materials 90 83 142 156 Total operating income $ 341 $ 333 $ 570 $ 637 Depreciation and amortization: Consumer Packaging International $ 82 $ 87 $ 164 $ 171 Consumer Packaging North America 53 54 107 110 Health, Hygiene & Specialties 44 42 89 87 Engineered Materials 27 29 57 59 Total depreciation and amortization $ 206 $ 212 $ 417 $ 427 Selected information by geographical region is presented in the following tables: Quarterly Period Ended Two Quarterly Periods Ended April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Net sales: United States and Canada $ 1,996 $ 1,728 $ 3,948 $ 3,405 Europe 1,399 1,257 2,616 2,350 Rest of world 380 385 784 751 Total net sales $ 3,775 $ 3,370 $ 7,348 $ 6,506

Contingencies and Commitments

Contingencies and Commitments	6 Months Ended
	Apr. 02, 2022
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	6 Months Ended
	Apr. 02, 2022
Share Repurchase Program [Abstract]
Share Repurchase Program	12. Share Repurchase Program During the quarterly period ended April 2, 2022, the Company repurchased and retired 5,029 thousand shares for $300 million. For the two quarterly periods ended April 2, 2022, the Company repurchased and retired 5,756 thousand shares for $351 million. Authorized share repurchases of $700 million remain available to the Company.

Basic and Diluted Earnings Per

Basic and Diluted Earnings Per Share	6 Months Ended
	Apr. 02, 2022
Basic and Diluted Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	13. Basic and Diluted Earnings Per Share Basic net income or earnings per share ("EPS") 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 EPS includes the effects of options and restricted stock units, if dilutive. The following tables provide a reconciliation of the numerator and denominator of the basic and diluted EPS calculations: Quarterly Period Ended Two Quarterly Periods Ended (in millions, except per share amounts) April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Numerator Consolidated net income $ 205 $ 181 $ 326 $ 311 Denominator Weighted average common shares outstanding - basic 133.8 134.3 134.6 133.9 Dilutive shares 3.1 2.5 3.4 2.7 Weighted average common and common equivalent shares outstanding - diluted 136.9 136.8 138.0 136.6 Per common share earnings Basic $ 1.53 $ 1.35 $ 2.42 $ 2.32 Diluted $ 1.50 $ 1.32 $ 2.36 $ 2.28 1.2 million and 1.3 million shares, respectively, were excluded from the diluted EPS calculation for the quarterly and two quarterly periods ended April 2, 2022 as their effect would be anti-dilutive. For the two quarterly periods ended April 3, 2021, 3.2 million shares were excluded.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Apr. 02, 2022
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 January 1, 2022 $ (176 ) $ (67 ) $ (46 ) $ (289 ) Other comprehensive income before reclassifications 37 — 69 106 Net amount reclassified — — 2 2 Balance at April 2, 2022 $ (139 ) $ (67 ) $ 25 $ (181 ) Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at January 2, 2021 $ (100 ) $ (116 ) $ (140 ) $ (356 ) Other comprehensive income (loss) before reclassifications (73 ) — 52 (21 ) Net amount reclassified — — 2 2 Balance at April 3, 2021 $ (173 ) $ (116 ) $ (86 ) $ (375 ) Two Quarterly Periods Ended Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at October 2, 2021 $ (154 ) $ (67 ) $ (75 ) $ (296 ) Other comprehensive income before reclassifications 15 — 95 110 Net amount reclassified — — 5 5 Balance at April 2, 2022 $ (139 ) $ (67 ) $ 25 $ (181 ) Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at September 26, 2020 $ (278 ) $ (116 ) $ (157 ) $ (551 ) Other comprehensive income before reclassifications 105 — 67 172 Net amount reclassified — — 4 4 Balance at April 3, 2021 $ (173 ) $ (116 ) $ (86 ) $ (375 )

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Apr. 02, 2022
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.
Fiscal Period	The Company’s U.S. based results for fiscal 2022 and fiscal 2021 are based on a fifty-two and fifty-three week period, respectively. The extra week in fiscal 2021 occurred in the first quarter.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Apr. 02, 2022
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	Reference Rate Reform In 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.

Restructuring and Transaction_2

Restructuring and Transaction Activities (Tables)	6 Months Ended
	Apr. 02, 2022
Restructuring and Transaction Activities [Abstract]
Restructuring Charges	The table below includes the significant components of restructuring and transaction activities, by reporting segment: Quarterly Period Ended Two Quarterly Periods Ended April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Consumer Packaging International $ 5 $ 38 $ 7 $ 41 Consumer Packaging North America 2 — 3 1 Health, Hygiene & Specialties — — (1 ) — Engineered Materials 1 — 2 (5 ) Consolidated $ 8 $ 38 $ 11 $ 37
Restructuring Accrual Activity	The table below sets forth the activity with respect to the restructuring and transaction activities accrual at April 2, 2022: Restructuring Employee Severance and Benefits Facility Exit Costs Transaction Activities Total Balance as of October 2, 2021 $ 6 $ 5 $ — $ 11 Charges 3 6 2 11 Cash (3 ) (7 ) (2 ) (12 ) Balance as of April 2, 2022 $ 6 $ 4 $ — $ 10

Leases (Tables)

Leases (Tables)	6 Months Ended
	Apr. 02, 2022
Leases [Abstract]
Lease Assets and Liabilities	Leases Classification April 2, 2022 October 2, 2021 Operating leases: Operating lease right-of-use assets Right-of-use assets $ 536 $ 562 Current operating lease liabilities Other current liabilities 110 113 Noncurrent operating lease liabilities Operating lease liability 443 466 Finance leases: Finance lease right-of-use assets Property, plant, and equipment, net $ 47 $ 57 Current finance lease liability Current portion of long-term debt 13 14 Noncurrent finance lease liabilities Long-term debt, less current portion 30 38
Lease Cash Flow and Lease Expense	Two Quarterly Periods Ended Lease Type Cash Flow Classification Lease Expense Category April 2, 2022 April 3, 2021 Operating Operating Lease cost $ 62 $ 57 Finance Operating Interest expense 1 1 Finance Financing - 9 16 Finance - Amortization of right-of-use assets 5 7

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Apr. 02, 2022
Long-Term Debt [Abstract]
Long-Term Debt	Long-term debt consists of the following: Facility Maturity Date April 2, 2022 October 2, 2021 Term loan July 2026 $ 3,440 3,440 Revolving line of credit May 2024 244 — 0.95 February 2024 800 800 1.00 (a) July 2025 776 810 1.57 January 2026 1,525 1,525 4.875 July 2026 1,250 1,250 1.65 January 2027 400 400 1.50 (a) July 2027 416 434 4.50 February 2026 300 300 5.625 July 2027 500 500 Debt discounts and deferred fees (69 ) (77 ) Finance leases and other Various 64 78 Total long-term debt 9,646 9,460 Current portion of long-term debt (19 ) (21 ) Long-term debt, less current portion $ 9,627 9,439 (a) Euro denominated

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Apr. 02, 2022
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 April 2, 2022 October 2, 2021 Cross-currency swaps Designated Other long-term liabilities $ 222 $ 323 Interest rate swaps Designated Other assets 45 — Interest rate swaps Designated Other long-term liabilities — 82 Interest rate swaps Not designated Other assets 26 — Interest rate swaps Not designated Other long-term liabilities 68 49
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 Two Quarterly Periods Ended Derivative Instruments Statements of Income Location April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Cross-currency swaps Interest expense $ (4 ) $ (1 ) $ (7 ) $ (4 ) Interest rate swaps Interest expense 12 17 24 34
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 April 2, 2022 and October 2, 2021, along with the impairment loss recognized on the fair value measurement during the period: As of April 2, 2022 Level 1 Level 2 Level 3 Total Impairment Indefinite-lived trademarks $ — $ — $ 248 $ 248 $ — Goodwill — — 5,091 5,091 — Definite lived intangible assets — — 1,844 1,844 — Property, plant, and equipment — — 4,650 4,650 — Total $ — $ — $ 11,833 $ 11,833 $ — As of October 2, 2021 Level 1 Level 2 Level 3 Total Impairment Indefinite-lived trademarks $ — $ — $ 248 $ 248 $ — Goodwill — — 5,192 5,192 — Definite lived intangible assets — — 1,994 1,994 — Property, plant, and equipment — — 4,677 4,677 1 Total $ — $ — $ 12,111 $ 12,111 $ 1

Segment and Geographic Data (Ta

Segment and Geographic Data (Tables)	6 Months Ended
	Apr. 02, 2022
Segment and Geographic Data [Abstract]
Selected Information by Reportable Segment	Selected information by reportable segment is presented in the following tables: Quarterly Period Ended Two Quarterly Periods Ended April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Net sales: Consumer Packaging International $ 1,139 $ 1,060 $ 2,195 $ 2,048 Consumer Packaging North America 880 731 1,732 1,417 Health, Hygiene & Specialties 822 781 1,640 1,521 Engineered Materials 934 798 1,781 1,520 Total net sales $ 3,775 $ 3,370 $ 7,348 $ 6,506 Operating income: Consumer Packaging International $ 97 $ 59 $ 166 $ 135 Consumer Packaging North America 85 77 131 136 Health, Hygiene & Specialties 69 114 131 210 Engineered Materials 90 83 142 156 Total operating income $ 341 $ 333 $ 570 $ 637 Depreciation and amortization: Consumer Packaging International $ 82 $ 87 $ 164 $ 171 Consumer Packaging North America 53 54 107 110 Health, Hygiene & Specialties 44 42 89 87 Engineered Materials 27 29 57 59 Total depreciation and amortization $ 206 $ 212 $ 417 $ 427
Selected Information by Geographical Region	Selected information by geographical region is presented in the following tables: Quarterly Period Ended Two Quarterly Periods Ended April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Net sales: United States and Canada $ 1,996 $ 1,728 $ 3,948 $ 3,405 Europe 1,399 1,257 2,616 2,350 Rest of world 380 385 784 751 Total net sales $ 3,775 $ 3,370 $ 7,348 $ 6,506

Basic and Diluted Earnings Pe_2

Basic and Diluted Earnings Per Share (Tables)	6 Months Ended
	Apr. 02, 2022
Basic and Diluted Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	The following tables provide a reconciliation of the numerator and denominator of the basic and diluted EPS calculations: Quarterly Period Ended Two Quarterly Periods Ended (in millions, except per share amounts) April 2, 2022 April 3, 2021 April 2, 2022 April 3, 2021 Numerator Consolidated net income $ 205 $ 181 $ 326 $ 311 Denominator Weighted average common shares outstanding - basic 133.8 134.3 134.6 133.9 Dilutive shares 3.1 2.5 3.4 2.7 Weighted average common and common equivalent shares outstanding - diluted 136.9 136.8 138.0 136.6 Per common share earnings Basic $ 1.53 $ 1.35 $ 2.42 $ 2.32 Diluted $ 1.50 $ 1.32 $ 2.36 $ 2.28

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Apr. 02, 2022
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 January 1, 2022 $ (176 ) $ (67 ) $ (46 ) $ (289 ) Other comprehensive income before reclassifications 37 — 69 106 Net amount reclassified — — 2 2 Balance at April 2, 2022 $ (139 ) $ (67 ) $ 25 $ (181 ) Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at January 2, 2021 $ (100 ) $ (116 ) $ (140 ) $ (356 ) Other comprehensive income (loss) before reclassifications (73 ) — 52 (21 ) Net amount reclassified — — 2 2 Balance at April 3, 2021 $ (173 ) $ (116 ) $ (86 ) $ (375 ) Two Quarterly Periods Ended Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at October 2, 2021 $ (154 ) $ (67 ) $ (75 ) $ (296 ) Other comprehensive income before reclassifications 15 — 95 110 Net amount reclassified — — 5 5 Balance at April 2, 2022 $ (139 ) $ (67 ) $ 25 $ (181 ) Currency Translation Defined Benefit Pension and Retiree Health Benefit Plans Derivative Instruments Accumulated Other Comprehensive Loss Balance at September 26, 2020 $ (278 ) $ (116 ) $ (157 ) $ (551 ) Other comprehensive income before reclassifications 105 — 67 172 Net amount reclassified — — 4 4 Balance at April 3, 2021 $ (173 ) $ (116 ) $ (86 ) $ (375 )

Revenue and Accounts Receivab_2

Revenue and Accounts Receivable (Details) - USD ($) $ in Millions	Apr. 02, 2022	Oct. 02, 2021
Revenue and Accounts Receivable [Abstract]
Accrual for customer rebates	$ 101	$ 104
Allowance for credit losses	$ 19	$ 21

Disposition (Details)

Disposition (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Apr. 02, 2022	Apr. 03, 2021	Oct. 02, 2021
Disposition [Abstract]
Net sales	$ 3,775	$ 3,370	$ 7,348	$ 6,506
Roto Molding Business [Member]
Disposition [Abstract]
Expected proceeds from sale of business	114		114
Net sales					$ 146
Roto Molding Business [Member] | Prepaid Expenses and Other Current Assets [Member]
Disposition [Abstract]
Assets held for sale	156		156
Roto Molding Business [Member] | Other Current Liabilities [Member]
Disposition [Abstract]
Liabilities held for sale	$ 49		$ 49

Restructuring and Transaction_3

Restructuring and Transaction Activities, Restructuring Charges by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Apr. 02, 2022	Apr. 03, 2021
Restructuring Charges [Abstract]
Restructuring and transaction activities	$ 8	$ 38	$ 11	$ 37
Consumer Packaging International [Member]
Restructuring Charges [Abstract]
Restructuring and transaction activities	5	38	7	41
Consumer Packaging North America [Member]
Restructuring Charges [Abstract]
Restructuring and transaction activities	2	0	3	1
Health, Hygiene & Specialties [Member]
Restructuring Charges [Abstract]
Restructuring and transaction activities	0	0	(1)	0
Engineered Materials [Member]
Restructuring Charges [Abstract]
Restructuring and transaction activities	$ 1	$ 0	$ 2	$ (5)

Restructuring and Transaction_4

Restructuring and Transaction Activities, Restructuring Accrual Activity (Details) $ in Millions	6 Months Ended
	Apr. 02, 2022USD ($)
Restructuring Accrual [Roll Forward]
Beginning balance	$ 11
Charges	11
Cash	(12)
Ending balance	10
Employee Severance and Benefits [Member]
Restructuring Accrual [Roll Forward]
Beginning balance	6
Charges	3
Cash	(3)
Ending balance	6
Facility Exit Costs [Member]
Restructuring Accrual [Roll Forward]
Beginning balance	5
Charges	6
Cash	(7)
Ending balance	4
Transaction Activities [Member]
Restructuring Accrual [Roll Forward]
Beginning balance	0
Charges	2
Cash	(2)
Ending balance	$ 0

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Apr. 02, 2022	Apr. 02, 2022	Apr. 03, 2021	Oct. 02, 2021
Operating Leases [Abstract]
Operating lease right-of-use assets	$ 536	$ 536		$ 562
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating lease right-of-use assets	Operating lease right-of-use assets		Operating lease right-of-use assets
Current operating lease liabilities	$ 110	$ 110		$ 113
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current	Other Liabilities, Current		Other Liabilities, Current
Noncurrent operating lease liabilities	$ 443	$ 443		$ 466
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent operating lease liabilities	Noncurrent operating lease liabilities		Noncurrent operating lease liabilities
Finance Leases [Abstract]
Finance lease right-of-use assets	$ 47	$ 47		$ 57
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net		Property, Plant and Equipment, Net
Current finance lease liability	$ 13	$ 13		$ 14
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Long-term Debt and Lease Obligation, Current	Long-term Debt and Lease Obligation, Current		Long-term Debt and Lease Obligation, Current
Noncurrent finance lease liabilities	$ 30	$ 30		$ 38
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt, less current portion	Long-term debt, less current portion		Long-term debt, less current portion
Lease Cash Flow and Lease Expense [Abstract]
Operating cash flows from operating leases		$ 62	$ 57
Operating cash flows from finance leases		1	1
Financing cash flows from finance leases		9	16
Amortization of right-of-use assets from finance leases		5	$ 7
Right-of-use assets obtained in exchange for operating lease liabilities	$ 9	$ 21

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions		6 Months Ended
		Apr. 02, 2022	Oct. 02, 2021
Long-term Debt [Abstract]
Debt discounts and deferred fees		$ (69)	$ (77)
Total long-term debt		9,646	9,460
Current portion of long-term debt		(19)	(21)
Long-term debt, less current portion		9,627	9,439
Term Loan due July 2026 [Member]
Long-term Debt [Abstract]
Long-term debt		$ 3,440	3,440
Maturity date		Jul. 31, 2026
Revolving Line of Credit [Member]
Long-term Debt [Abstract]
Long-term debt		$ 244	0
Maturity date		May 31, 2024
0.95% First Priority Senior Secured Notes [Member]
Long-term Debt [Abstract]
Long-term debt		$ 800	800
Interest rate		0.95%
Maturity date		Feb. 29, 2024
1.00% First Priority Senior Secured Notes [Member]
Long-term Debt [Abstract]
Long-term debt	[1]	$ 776	810
Interest rate		1.00%
Maturity date		Jul. 31, 2025
1.57% First Priority Senior Secured Notes [Member]
Long-term Debt [Abstract]
Long-term debt		$ 1,525	1,525
Interest rate		1.57%
Maturity date		Jan. 31, 2026
4.875% First Priority Senior Secured Notes [Member]
Long-term Debt [Abstract]
Long-term debt		$ 1,250	1,250
Interest rate		4.875%
Maturity date		Jul. 31, 2026
1.65% First Priority Senior Secured Notes [Member]
Long-term Debt [Abstract]
Long-term debt		$ 400	400
Interest rate		1.65%
Maturity date		Jan. 31, 2027
1.50% First Priority Senior Secured Notes [Member]
Long-term Debt [Abstract]
Long-term debt	[1]	$ 416	434
Interest rate		1.50%
Maturity date		Jul. 31, 2027
4.50% Second Priority Senior Secured Notes [Member]
Long-term Debt [Abstract]
Long-term debt		$ 300	300
Interest rate		4.50%
Maturity date		Feb. 28, 2026
5.625% Second Priority Senior Secured Notes [Member]
Long-term Debt [Abstract]
Long-term debt		$ 500	500
Interest rate		5.625%
Maturity date		Jul. 31, 2027
Finance Leases and Other [Member]
Long-term Debt [Abstract]
Long-term debt		$ 64	$ 78
[1]	Euro denominated

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements, Cross-Currency Swaps (Details) - Apr. 02, 2022 € in Millions, £ in Millions	EUR (€)	GBP (£)
Euro Denominated [Member]
Cross-Currency Swaps [Abstract]
Long-term debt	€ 785
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	6 Months Ended
	Apr. 02, 2022USD ($)
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	$ 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) - USD ($) $ in Millions	Apr. 02, 2022	Oct. 02, 2021
Cross-Currency Swaps [Member] | Designated [Member] | Other Long-Term Liabilities [Member]
Derivative Instruments [Abstract]
Fair value of derivative instruments	$ 222	$ 323
Interest Rate Swaps [Member] | Designated [Member] | Other Long-Term Liabilities [Member]
Derivative Instruments [Abstract]
Fair value of derivative instruments	0	82
Interest Rate Swaps [Member] | Designated [Member] | Other Assets [Member]
Derivative Instruments [Abstract]
Fair value of derivative instruments	45	0
Interest Rate Swaps [Member] | Not Designated [Member] | Other Long-Term Liabilities [Member]
Derivative Instruments [Abstract]
Fair value of derivative instruments	68	49
Interest Rate Swaps [Member] | Not Designated [Member] | Other Assets [Member]
Derivative Instruments [Abstract]
Fair value of derivative instruments	$ 26	$ 0

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements, Effect of Derivatives on Consolidated Statements of Income (Details) - Interest Expense [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Apr. 02, 2022	Apr. 03, 2021
Cross-Currency Swaps [Member]
Derivative Instruments [Abstract]
Loss (gain) on derivative instruments	$ (4)	$ (1)	$ (7)	$ (4)
Interest Rate Swaps [Member]
Derivative Instruments [Abstract]
Loss (gain) on derivative instruments	$ 12	$ 17	$ 24	$ 34

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements, Assets Measured at Fair Value on Non-Recurring Basis (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Apr. 02, 2022	Oct. 02, 2021
Impairment [Abstract]
Indefinite-lived trademarks	$ 0	$ 0
Goodwill	0	0
Definite lived intangible assets	0	0
Property, plant, and equipment	0	1
Impairment charges	0	1
Fair Value Adjustment [Abstract]
Fair value of long-term indebtedness greater/(less) than book value	(212)
Fair Value on Non-recurring Basis [Member]
Fair Value of Assets [Abstract]
Indefinite-lived trademarks	248	248
Goodwill	5,091	5,192
Definite lived intangible assets	1,844	1,994
Property, plant, and equipment	4,650	4,677
Total	11,833	12,111
Fair Value on Non-recurring 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 Non-recurring 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 Non-recurring Basis [Member] | Level 3 [Member]
Fair Value of Assets [Abstract]
Indefinite-lived trademarks	248	248
Goodwill	5,091	5,192
Definite lived intangible assets	1,844	1,994
Property, plant, and equipment	4,650	4,677
Total	$ 11,833	$ 12,111

Segment and Geographic Data, Se

Segment and Geographic Data, Selected Information by Reportable Segment (Details) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 02, 2022USD ($)	Apr. 03, 2021USD ($)	Apr. 02, 2022USD ($)Segment	Apr. 03, 2021USD ($)
Segment and Geographic Data [Abstract]
Number of reporting segments | Segment			4
Selected Information by Reportable Segment [Abstract]
Net sales	$ 3,775	$ 3,370	$ 7,348	$ 6,506
Operating income	341	333	570	637
Depreciation and amortization	206	212	417	427
Operating Segment [Member] | Consumer Packaging International [Member]
Selected Information by Reportable Segment [Abstract]
Net sales	1,139	1,060	2,195	2,048
Operating income	97	59	166	135
Depreciation and amortization	82	87	164	171
Operating Segment [Member] | Consumer Packaging North America [Member]
Selected Information by Reportable Segment [Abstract]
Net sales	880	731	1,732	1,417
Operating income	85	77	131	136
Depreciation and amortization	53	54	107	110
Operating Segment [Member] | Health, Hygiene & Specialties [Member]
Selected Information by Reportable Segment [Abstract]
Net sales	822	781	1,640	1,521
Operating income	69	114	131	210
Depreciation and amortization	44	42	89	87
Operating Segment [Member] | Engineered Materials [Member]
Selected Information by Reportable Segment [Abstract]
Net sales	934	798	1,781	1,520
Operating income	90	83	142	156
Depreciation and amortization	$ 27	$ 29	$ 57	$ 59

Segment and Geographic Data, _2

Segment and Geographic Data, Selected Information by Geographical Region (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Apr. 02, 2022	Apr. 03, 2021
Selected Information by Geography [Abstract]
Net sales	$ 3,775	$ 3,370	$ 7,348	$ 6,506
Reportable Geographical Region [Member] | United States and Canada [Member]
Selected Information by Geography [Abstract]
Net sales	1,996	1,728	3,948	3,405
Reportable Geographical Region [Member] | Europe [Member]
Selected Information by Geography [Abstract]
Net sales	1,399	1,257	2,616	2,350
Reportable Geographical Region [Member] | Rest of World [Member]
Selected Information by Geography [Abstract]
Net sales	$ 380	$ 385	$ 784	$ 751

Share Repurchase Program (Detai

Share Repurchase Program (Details) shares in Thousands, $ in Millions	3 Months Ended	6 Months Ended
	Apr. 02, 2022USD ($)shares	Apr. 02, 2022USD ($)shares
Share Repurchase Program and Subsequent Event [Abstract]
Shares repurchased and retired	$ 300	$ 351
2022 Share Repurchase Program [Member]
Share Repurchase Program and Subsequent Event [Abstract]
Number of shares repurchased and retired (in shares) | shares	5,029	5,756
Shares repurchased and retired	$ 300	$ 351
Remaining amount of share repurchase program	$ 700	$ 700

Basic and Diluted Earnings Pe_3

Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Apr. 02, 2022	Apr. 03, 2021
Numerator [Abstract]
Consolidated net income	$ 205	$ 181	$ 326	$ 311
Denominator [Abstract]
Weighted average common shares outstanding - basic (in shares)	133.8	134.3	134.6	133.9
Dilutive shares (in shares)	3.1	2.5	3.4	2.7
Weighted average common and common equivalent shares outstanding - diluted (in shares)	136.9	136.8	138	136.6
Per Common Share Earnings [Abstract]
Basic (in dollars per share)	$ 1.53	$ 1.35	$ 2.42	$ 2.32
Diluted (in dollars per share)	$ 1.50	$ 1.32	$ 2.36	$ 2.28
Antidilutive Shares [Abstract]
Antidilutive shares excluded from computation of earnings per share (in shares)	1.2		1.3	3.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Apr. 02, 2022	Apr. 03, 2021
Accumulated Other Comprehensive Loss [Roll Forward]
Other comprehensive income (loss) before reclassifications	$ 106	$ (21)	$ 110	$ 172
Net amount reclassified	2	2	5	4
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(289)	(356)	(296)	(551)
Ending balance	(181)	(375)	(181)	(375)
Currency Translation [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(176)	(100)	(154)	(278)
Other comprehensive income (loss) before reclassifications	37	(73)	15	105
Net amount reclassified	0	0	0	0
Ending balance	(139)	(173)	(139)	(173)
Defined Benefit Pension and Retiree Health Benefit Plans [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(67)	(116)	(67)	(116)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Net amount reclassified	0	0	0	0
Ending balance	(67)	(116)	(67)	(116)
Derivative Instruments [Member]
Accumulated Other Comprehensive Loss [Roll Forward]
Beginning balance	(46)	(140)	(75)	(157)
Other comprehensive income (loss) before reclassifications	69	52	95	67
Net amount reclassified	2	2	5	4
Ending balance	$ 25	$ (86)	$ 25	$ (86)