Amcor (AMCR) 10-Q 3 Feb 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Dec. 31, 2021	Feb. 01, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-38932
Entity Registrant Name	AMCOR PLC
Entity Incorporation, State or Country Code	Y9
Entity Tax Identification Number	98-1455367
Entity Address, Address Line One	83 Tower Road North
Entity Address, City or Town	Warmley, Bristol
Entity Address, Postal Zip Code	BS30 8XP
Entity Address, Country	GB
Country Region	44
City Area Code	117
Local Phone Number	9753200
Entity Information [Line Items]
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,513,727,218
Entity Central Index Key	0001748790
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Ordinary Shares, Par Value $0.01 Per Share
Entity Information [Line Items]
Title of 12(b) Security	Ordinary Shares, Par Value $0.01 Per Share
Security Exchange Name	NYSE
Trading Symbol	AMCR
Trading Symbol	AMCR
1.125% Guaranteed Senior Notes Due 2027
Entity Information [Line Items]
Title of 12(b) Security	1.125% Guaranteed Senior Notes Due 2027
Security Exchange Name	NYSE
Trading Symbol	AUKF/27
Trading Symbol	AUKF/27

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 3,507	$ 3,103	$ 6,927	$ 6,200
Cost of sales	(2,862)	(2,452)	(5,632)	(4,895)
Gross profit	645	651	1,295	1,305
Operating expenses:
Selling, general, and administrative expenses	(303)	(308)	(616)	(637)
Research and development expenses	(23)	(23)	(48)	(49)
Restructuring and related expenses, net	(10)	(23)	(18)	(46)
Other income, net	13	10	5	10
Operating income	322	307	618	583
Interest income	5	4	10	7
Interest expense	(39)	(37)	(79)	(77)
Other non-operating income, net	2	3	7	6
Income before income taxes and equity in income of affiliated companies	290	277	556	519
Income tax expense	(61)	(55)	(124)	(116)
Equity in income of affiliated companies, net of tax	0	0	0	19
Net income	229	222	432	422
Net income attributable to non-controlling interests	(4)	(3)	(5)	(5)
Net income attributable to Amcor plc	$ 225	$ 219	$ 427	$ 417
Basic earnings per share	$ 0.148	$ 0.140	$ 0.280	$ 0.267
Diluted earnings per share	$ 0.148	$ 0.139	$ 0.279	$ 0.265

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 229	$ 222	$ 432	$ 422
Other comprehensive income (loss):
Net gains/(losses) on cash flow hedges, net of tax (a)	(5)	8	(7)	12
Foreign currency translation adjustments, net of tax (b)	(21)	128	(116)	152
Pension, net of tax (c)	3	0	3	2
Other comprehensive income/(loss)	(23)	136	(120)	166
Total comprehensive income	206	358	312	588
Comprehensive income attributable to non-controlling interests	(4)	(4)	(4)	(6)
Comprehensive income attributable to Amcor plc	$ 202	$ 354	$ 308	$ 582

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
(a) Tax benefit/(expense) related to cash flow hedges	$ 1	$ (1)	$ 1	$ (2)
(b) Tax benefit/(expense) related to foreign currency translation adjustments	0	5	(2)	8
(c) Tax expense related to pension adjustments	$ 0	$ (1)	$ 0	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 626	$ 850
Trade receivables, net of allowance for doubtful accounts of $24 and $28, respectively	1,889	1,864
Inventories, net	2,273	1,991
Prepaid expenses and other current assets	603	561
Total current assets	5,391	5,266
Non-current assets:
Property, plant, and equipment, net	3,695	3,761
Operating lease assets	541	532
Deferred tax assets	125	139
Other intangible assets, net	1,749	1,835
Goodwill	5,370	5,419
Employee benefit assets	52	52
Other non-current assets	215	184
Total non-current assets	11,747	11,922
Total assets	17,138	17,188
Current liabilities:
Current portion of long-term debt	6	5
Short-term debt	115	98
Trade payables	2,743	2,574
Accrued employee costs	371	523
Other current liabilities	1,058	1,145
Total current liabilities	4,293	4,345
Non-current liabilities:
Long-term debt, less current portion	6,548	6,186
Operating lease liabilities	467	462
Operating lease liabilities	671	696
Employee benefit obligations	278	307
Other non-current liabilities	362	371
Total non-current liabilities	8,326	8,022
Total liabilities	12,619	12,367
Commitments and contingencies (See Note 14)
Amcor plc shareholders’ equity:
Common stock	15	15
Additional paid-in capital	4,854	5,092
Retained earnings	515	452
Accumulated other comprehensive loss	(885)	(766)
Treasury stock	(37)	(29)
Total Amcor plc shareholders' equity	4,462	4,764
Non-controlling interests	57	57
Total shareholders' equity	4,519	4,821
Total liabilities and shareholders' equity	$ 17,138	$ 17,188

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Statement of Financial Position [Abstract]
Trade receivables, allowance for doubtful accounts	$ 24	$ 28
Ordinary shares, par value	$ 0.01	$ 0.01
Ordinary shares authorized	9,000	9,000
Ordinary shares issued	1,513	1,538
Treasury shares	3	3

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 432	$ 422
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and impairment	332	287
Net periodic benefit cost	4	6
Amortization of debt discount and deferred financing costs	1	5
Net gain on disposal of property, plant, and equipment	0	(1)
Net loss on disposal of businesses	0	6
Equity in income of affiliated companies	0	(19)
Net foreign exchange (gain)/loss	(2)	11
Share-based compensation	31	28
Other, net	57	(73)
Loss from hyperinflationary accounting for Argentine subsidiaries	7	15
Deferred income taxes, net	(14)	5
Dividends received from affiliated companies	0	3
Changes in operating assets and liabilities, excluding effect of acquisitions, divestitures, and currency	(525)	(253)
Net cash provided by operating activities	323	442
Cash flows from investing activities:
Issuance of loans to affiliated companies	(5)	0
Investments in affiliated companies	(11)	0
Purchase of property, plant, and equipment, and other intangible assets	(255)	(218)
Proceeds from divestitures	0	138
Proceeds from sales of property, plant, and equipment, and other intangible assets	6	4
Net cash used in investing activities	(265)	(76)
Net cash used in investing activities
Proceeds from issuance of shares	92	9
Purchase of treasury shares	(133)	0
Purchase of non-controlling interests	0	(7)
Proceeds from issuance of long-term debt	19	1
Repayment of long-term debt	(677)	(121)
Net borrowing of commercial paper	1,133	328
Net repayment of short-term debt	(4)	(168)
Repayment of lease liabilities	(2)	(2)
Share buyback/cancellations	(295)	(75)
Dividends paid	(368)	(374)
Net cash used in financing activities	(235)	(409)
Effect of exchange rates on cash and cash equivalents	(47)	55
Net increase/(decrease) in cash and cash equivalents	(224)	12
Cash and cash equivalents balance at beginning of year	850	743
Cash and cash equivalents balance at end of period	626	755
Supplemental cash flow information:
Interest paid, net of amounts capitalized	70	73
Income taxes paid	110	168
Supplemental non-cash disclosures relating to investing and financing activities:
Purchase of property and equipment, accrued but unpaid	$ 74	$ 73

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Equity - USD ($) $ in Millions	Total	Cumulative adjustment related to the adoption of ASC 326	Ordinary Shares	Additional Paid-In Capital	Retained Earnings	Retained EarningsCumulative adjustment related to the adoption of ASC 326	Accumulated Other Comprehensive Loss	Treasury Shares	Non-controlling Interest
Beginning Balance at Jun. 30, 2020	$ 4,687		$ 16	$ 5,480	$ 246		$ (1,049)	$ (67)	$ 61
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	422				417				5
Other comprehensive income	166						165		1
Share buyback/cancellations	(75)		0	(75)
Dividends declared	(374)				(365)				(9)
Options exercised and shares vested	9			(13)				22
Share-based compensation expense	28			28
Change in non-controlling interests	(10)			(8)					(2)
Ending Balance at Dec. 31, 2020	$ 4,848	$ (5)	16	5,412	293	$ (5)	(884)	(45)	56
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative adjustment related to adoption of ASC 842 and 326	Accounting Standards Update 2016-13 [Member]
Beginning Balance at Sep. 30, 2020	$ 4,744		16	5,481	258		(1,019)	(49)	57
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	222				219				3
Other comprehensive income	136						135		1
Share buyback/cancellations	(75)			(75)
Dividends declared	(186)				(184)				(2)
Options exercised and shares vested	4			0				4
Share-based compensation expense	14			14
Change in non-controlling interests	(11)			(8)					(3)
Ending Balance at Dec. 31, 2020	4,848	$ (5)	16	5,412	293	$ (5)	(884)	(45)	56
Beginning Balance at Jun. 30, 2021	4,821		15	5,092	452		(766)	(29)	57
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	432				427				5
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest									(1)
Other comprehensive income	(120)						(119)
Share buyback/cancellations	(295)		0	(295)
Dividends declared	(368)				(364)				(4)
Options exercised and shares vested	92			(33)				125
Settlement of forward contracts to purchase equity to meet share-based incentive plans, net of tax	59			59
Purchase of treasury shares	(133)							(133)
Share-based compensation expense	31			31
Change in non-controlling interests	0
Ending Balance at Dec. 31, 2021	4,519		15	4,854	515		(885)	(37)	57
Beginning Balance at Sep. 30, 2021	4,705		15	5,074	473		(862)	(50)	55
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	229				225				4
Other comprehensive income	(23)						(23)		0
Share buyback/cancellations	(231)			(231)
Dividends declared	(185)				(183)				(2)
Options exercised and shares vested	10			(5)				15
Settlement of forward contracts to purchase equity to meet share-based incentive plans, net of tax	0
Purchase of treasury shares	(2)							(2)
Share-based compensation expense	16			16
Change in non-controlling interests	0
Ending Balance at Dec. 31, 2021	$ 4,519		$ 15	$ 4,854	$ 515		$ (885)	$ (37)	$ 57

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared, per share	$ 0.12	$ 0.1175	$ 0.2375	$ 0.2325

Nature of Operations and Basis

Nature of Operations and Basis of Presentation	6 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation Amcor plc ("Amcor" or the "Company") is a global packaging company that develops and produces a broad range of packaging products including flexible packaging, rigid packaging containers, specialty cartons, and closures. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information. Consistent with these requirements, this Form 10-Q does not include all the information required by U.S. GAAP for complete financial statements. It is management's opinion, however, that all material and recurring adjustments have been made that are necessary for a fair statement of its interim financial position, results of operations, and cash flows. For further information, this Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements and accompanying Notes in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2021. There have been no material changes in the accounting policies followed by the Company during the current fiscal year. Certain amounts in the Company's notes to unaudited condensed consolidated financial statements may not add or recalculate due to rounding.

New Accounting Guidance

New Accounting Guidance	6 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
New Accounting Guidance	New Accounting Guidance Recently Adopted Accounting Standards In December 2019, the FASB issued updated guidance to simplify the accounting for income taxes by removing certain exceptions and improving the consistent application of U.S. GAAP in other tax accounting areas. This guidance is effective for annual reporting periods, and any interim periods within those annual periods, that begin after December 15, 2020 with early adoption permitted. The guidance became effective for the Company on July 1, 2021 and the adoption did not have a material impact on the Company's unaudited condensed consolidated financial statements. Accounting Standards Not Yet Adopted In November 2021, the FASB issued an Accounting Standards Update ("ASU") 2021-10 that adds certain disclosure requirements for entities that receive government assistance. The standard is effective for annual periods beginning after December 15, 2021 with early application permitted. The Company will adopt this guidance in fiscal year 2023 and does not expect the adoption to have a material impact on its results of operation, financial position, and disclosures. The Company considers the applicability and impact of all ASUs issued by the FASB. The Company determined at this time that all other ASUs not yet adopted are either not applicable or are expected to have minimal impact on its results of operation, financial position, and disclosures.

Restructuring

Restructuring	6 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring 2019 Bemis Integration Plan In connection with the acquisition of Bemis Company, Inc. ("Bemis"), the Company initiated restructuring activities in the fourth quarter of fiscal year 2019 aimed at integrating and optimizing the combined organization. As previously announced, the Company continues to target realizing at least $180 million of pre-tax synergies driven by procurement, supply chain, and general and administrative savings by the end of fiscal year 2022. The Company's total 2019 Bemis Integration Plan pre-tax integration costs are expected to be approximately $230 million to $250 million. The total 2019 Bemis Integration Plan costs include approximately $190 million to $210 million of restructuring and related expenses, net, and $40 million of general integration expenses. The Company estimates that net cash expenditures including disposal proceeds will be approximately $160 million to $170 million, of which $40 million relates to general integration expenses. As of December 31, 2021, the Company has incurred $137 million in employee related expenses, $39 million in fixed asset related expenses, $35 million in other restructuring and $33 million in restructuring related expenses, partially offset by a gain on disposal of a business of $51 million. The six months ended December 31, 2021 resulted in net cash outflows of $30 million, of which $28 million were payments related to restructuring and related expenditures. Cash payments of approximately $60 million to $65 million are expected for the balance of the fiscal year for restructuring and related expenses. The 2019 Bemis Integration Plan relates to the Flexibles segment and Corporate and is expected to be substantially completed by the end of fiscal year 2022. Restructuring related costs are directly attributable to restructuring activities; however, they do not qualify for special accounting treatment as exit or disposal activities. General integration costs are not linked to restructuring. The Company believes the disclosure of restructuring related costs provides more information on the total cost of the 2019 Bemis Integration Plan. The restructuring related costs relate primarily to the closure of facilities and include costs to replace graphics, train new employees on relocated equipment, and anticipated losses on sale of closed facilities. Other Restructuring Plans The Company has entered into other individually immaterial restructuring plans ("Other Restructuring Plans"). The Company's restructuring charges related to these plans were zero for the three months ended December 31, 2021 and 2020, and $1 million and $9 million for the six months ended December 31, 2021 and 2020, respectively. The Company's total incurred restructuring charges for Other Restructuring Plans primarily relate to the Flexibles reporting segment. Consolidated Amcor Restructuring Plans The total costs incurred from the beginning of the Company's 2019 Bemis Integration Plan and Other Restructuring Plans are as follows: ($ in millions) 2019 Bemis Integration Plan (1) Other Restructuring Plans Total Restructuring and Related Expenses (1) Fiscal year 2019 net charges to earnings $ 48 $ 19 $ 67 Fiscal year 2020 net charges to earnings 60 18 78 Fiscal year 2021 net charges to earnings 68 6 74 Fiscal year 2022 first quarter net charges to earnings 7 1 8 Fiscal year 2022 second quarter net charges to earnings 10 — 10 Expense incurred to date $ 193 $ 44 $ 237 (1) Total restructuring and related expenses include restructuring related costs from the 2019 Bemis Integration Plan of $2 million, $15 million, $13 million, $3 million, and $2 million for fiscal year 2019, fiscal year 2020, fiscal year 2021, first quarter of fiscal year 2022, and second quarter of fiscal year 2022, respectively. An analysis of the restructuring charges by type incurred follows: Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Employee costs $ 1 $ 13 $ 3 $ 25 Fixed asset related costs — 2 — 3 Other costs 7 4 10 13 Total restructuring costs, net $ 8 $ 19 $ 13 $ 41 An analysis of the Company's restructuring plan liability follows: ($ in millions) Employee Costs Fixed Asset Related Costs Other Costs Total Restructuring Costs Liability balance at June 30, 2021 $ 78 $ — $ 17 $ 95 Net charges to earnings 3 — 10 13 Cash (paid)/received (16) 2 (10) (24) Other non-cash (1) (2) — (3) Foreign currency translation (4) — (1) (5) Liability balance at December 31, 2021 $ 60 $ — $ 16 $ 76 The costs related to restructuring activities have been presented on the unaudited condensed consolidated statements of income as restructuring and related expenses, net. The accruals related to restructuring activities have been recorded on the unaudited condensed consolidated balance sheets under other current liabilities.

Inventories, Net

Inventories, Net	6 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories, net are summarized as follows: ($ in millions) December 31, 2021 June 30, 2021 Raw materials and supplies $ 1,088 $ 905 Work in process and finished goods 1,306 1,193 Less: inventory reserves (121) (107) Total inventories, net $ 2,273 $ 1,991

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets, Net	6 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets, Net	Goodwill and Other Intangible Assets, Net Goodwill Changes in the carrying amount of goodwill attributable to each reportable segment were as follows: ($ in millions) Flexibles Segment Rigid Packaging Segment Total Balance as of June 30, 2021 $ 4,437 $ 982 $ 5,419 Foreign currency translation (46) (3) (49) Balance as of December 31, 2021 $ 4,391 $ 979 $ 5,370 Other Intangible Assets, Net Other intangible assets, net comprised the following: December 31, 2021 ($ in millions) Gross Carrying Amount Accumulated Amortization and Impairment (1) Net Carrying Amount Customer relationships $ 1,979 $ (469) $ 1,510 Computer software 239 (161) 78 Other (2) 327 (166) 161 Total other intangible assets $ 2,545 $ (796) $ 1,749 June 30, 2021 ($ in millions) Gross Carrying Amount Accumulated Amortization and Impairment (1) Net Carrying Amount Customer relationships $ 1,986 $ (405) $ 1,581 Computer software 233 (156) 77 Other (2) 321 (144) 177 Total other intangible assets $ 2,540 $ (705) $ 1,835 (1) Accumulated amortization and impairment included $34 million for December 31, 2021 and June 30, 2021, respectively, of accumulated impairment in the Other category. (2) Other included $17 million for December 31, 2021 and June 30, 2021, respectively, of acquired intellectual property assets not yet being amortized as the related R&D projects have not yet been completed. Amortization expenses for intangible assets were $45 million during the three months ended December 31, 2021 and 2020, respectively, and $90 million during the six months ended December 31, 2021 and 2020, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The fair values of the Company’s financial assets and financial liabilities listed below reflect the amounts that would be received to sell the assets or paid to transfer the liabilities in an orderly transaction between market participants at the measurement date (exit price). The Company’s non-derivative financial instruments primarily include cash and cash equivalents, trade receivables, trade payables, short-term debt, and long-term debt. At December 31, 2021 and June 30, 2021, the carrying value of these financial instruments, excluding long-term debt, approximated fair value because of the short-term nature of these instruments. The carrying value of long-term debt with variable interest rates approximates its fair value. The fair value of the Company’s long-term debt with fixed interest rates is based on market prices, if available, or expected future cash flows discounted at the current interest rate for financial liabilities with similar risk profiles. The carrying values and estimated fair values of long-term debt with fixed interest rates (excluding capital leases) were as follows: December 31, 2021 June 30, 2021 Carrying Value Fair Value Carrying Value Fair Value ($ in millions) (Level 2) (Level 2) Total long-term debt with fixed interest rates (excluding commercial paper and finance leases) $ 3,595 $ 3,769 $ 4,325 $ 4,558 Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis Additionally, the Company measures and records certain assets and liabilities, including derivative instruments and contingent purchase consideration liabilities, at fair value. The following table summarizes the fair value of these instruments, which are measured at fair value on a recurring basis, by level, within the fair value hierarchy: December 31, 2021 ($ in millions) Level 1 Level 2 Level 3 Total Assets Commodity contracts $ — $ 7 $ — $ 7 Forward exchange contracts — 9 — 9 Total assets measured at fair value $ — $ 16 $ — $ 16 Liabilities Contingent purchase consideration liabilities $ — $ — $ 16 $ 16 Forward exchange contracts — 11 — 11 Interest rate swaps — 2 — 2 Total liabilities measured at fair value $ — $ 13 $ 16 $ 29 June 30, 2021 ($ in millions) Level 1 Level 2 Level 3 Total Assets Commodity contracts $ — $ 14 $ — $ 14 Forward exchange contracts — 7 — 7 Interest rate swaps — 19 — 19 Total assets measured at fair value $ — $ 40 $ — $ 40 Liabilities Contingent purchase consideration liabilities $ — $ — $ 18 $ 18 Forward exchange contracts — 4 — 4 Total liabilities measured at fair value $ — $ 4 $ 18 $ 22 The fair value of the commodity contracts was determined using a discounted cash flow analysis based on the terms of the contracts and observed market forward prices discounted at a currency-specific rate. Forward exchange contract fair values were determined based on quoted prices for similar assets and liabilities in active markets using inputs such as currency rates and forward points. The fair value of the interest rate swaps was determined using a discounted cash flow method based on market-based swap yield curves, taking into account current interest rates. Contingent purchase consideration liabilities arise from business acquisitions. As of December 31, 2021, the Company's contingent purchase consideration liabilities consist of a $10 million liability that is contingent on future royalty income generated by Discma AG, a subsidiary acquired in March 2017, and a $6 million balance relating to consideration for small business acquisitions where payments are contingent on the Company vacating a certain property or performance criteria. The fair value of the contingent purchase consideration liabilities was determined for each arrangement individually. The fair value was determined using the income approach with significant inputs that are not observable in the market. Key assumptions include the discount rates consistent with the level of risk of achievement and probability adjusted financial projections. The expected outcomes are recorded at net present value, which requires adjustment over the life for changes in risks and probabilities. Changes arising from modifications in forecasts related to contingent consideration are expected to be immaterial. The fair value of contingent purchase consideration liabilities is included in other current liabilities and other non-current liabilities in the unaudited condensed consolidated balance sheets. Assets and Liabilities Measured and Recorded at Fair Value on a Nonrecurring Basis In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis. The Company measures certain assets, including technology intangible assets, equity method and other investments, and other long-lived and intangible assets at fair value on a nonrecurring basis when they are deemed to be other than temporarily impaired. The fair values of these assets are determined, when applicable, based on valuation techniques using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. Following a commitment to sell non-core assets during the three and six months ended December 31, 2021, the Company has recorded an expense of $9 million, predominantly to adjust the long-lived assets to their fair value less cost to sell as determined in reference to the selling price in the signed sale and purchase agreement. During the six months ended December 31, 2021, long-lived assets with a carrying value of $12 million were written down to a fair value of zero as the Company's Durban, South Africa, manufacturing facility was destroyed in a fire as the result of general civil unrest. In addition, other long-lived assets in South Africa, with a carrying amount of $8 million, were written down to their estimated fair value of $4 million using level 3 inputs. The Company sold its equity method investment in AMVIG Holdings Limited ("AMVIG") on September 30, 2020. Refer to Note 15, "Disposals." The Company tests indefinite-lived intangibles for impairment when facts and circumstances indicate the carrying value may not be recoverable from their undiscounted cash flows. During the six months ended December 31, 2021, and 2020, there were no triggering events and no indefinite-lived intangible impairment charges recorded.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company periodically uses derivatives and other financial instruments to hedge exposures to interest rate, commodity price, and currency risks. The Company does not hold or issue financial instruments for speculative or trading purposes. For hedges that meet the hedge accounting criteria, the Company, at inception, formally designates and documents the instrument as a fair value hedge or a cash flow hedge of a specific underlying exposure. On an ongoing basis, the Company assesses and documents that its hedges have been and are expected to continue to be highly effective. Interest Rate Risk The Company’s policy is to manage exposure to interest rate risk by maintaining a mixture of fixed-rate and variable-rate debt, monitoring global interest rates and, where appropriate, hedging floating interest rate exposure or debt at fixed interest rates through various interest rate derivative instruments, including, but not limited to, interest rate swaps, cross-currency interest rate swaps, and interest rate locks. For interest rate swaps that are accounted for as fair value hedges, the gains and losses related to the changes in the fair value of the interest rate swaps are included in interest expense and offset changes in the fair value of the hedged portion of the underlying debt that are attributable to the changes in market interest rates. Changes in the fair value of interest rate swaps that have not been designated as hedging instruments are reported in the accompanying unaudited condensed consolidated statements of income under other non-operating income, net. During December 2021, the Company entered into an aggregate $250 million notional amount of receive-fixed/pay-variable interest rate swaps, which will mature on May 15, 2028. These swaps were designated as a fair value hedge against 50% of $500 million of principal on the 4.50% U.S. dollar notes due in May 2028. Also during December 2021, we settled $100 million of a receive-fixed/pay-variable interest rate swap as a result of the full redemption of $275 million 5.95% U.S. private placement notes at maturity. This interest rate swap was designated as a fair value hedge at inception. In July 2021, the Company terminated $400 million of its receive-fixed/pay-variable interest rate swaps that were designated as fair value hedges and received $2 million in net proceeds. This termination was in association with the full redemption of the $400 million 4.50% U.S. dollar notes due October 2021, completed on July 15, 2021. In July 2021, the Company also terminated an aggregate amount of €300 million (equivalent of $357 million) receive-fixed/pay-variable interest rate swaps and received €13 million (equivalent of $15 million) in net proceeds. These interest rate swaps, which were to mature in March 2023, were designated as fair value hedges against €300 million of principal on the 2.75% Euro bonds due March 2023. The gain on the termination of the aforementioned swaps is deferred and is being amortized to interest income over the remaining contractual term of the 2.75% Euro bonds due March 2023. As of December 31, 2021, and June 30, 2021, the total notional amount of the Company’s receive-fixed/pay-variable interest rate swaps accounted for as fair value hedges was $650 million and $1,257 million, respectively. Foreign Currency Risk The Company manufactures and sells its products and finances its operations in a number of countries throughout the world and, as a result, is exposed to movements in foreign currency exchange rates. The purpose of the Company’s foreign currency hedging program is to manage the volatility associated with the changes in exchange rates. To manage this exchange rate risk, the Company utilizes forward contracts. Contracts that qualify for hedge accounting are designated as cash flow hedges of certain forecasted transactions denominated in foreign currencies. The effective portion of the changes in fair value of these instruments is reported in accumulated other comprehensive loss ("AOCI") and reclassified into earnings in the same financial statement line item and in the same period or periods during which the related hedged transactions affect earnings. The ineffective portion is recognized in earnings over the life of the hedging relationship in the same unaudited condensed consolidated statements of income line item as the underlying hedged item. Changes in the fair value of forward contracts that have not been designated as hedging instruments are reported in the accompanying unaudited condensed consolidated statements of income. As of December 31, 2021, and June 30, 2021, the notional amount of the outstanding forward contracts was $1.1 billion. Commodity Risk Certain raw materials used in the Company's production processes are subject to price volatility caused by weather, supply conditions, political and economic variables, and other unpredictable factors. The Company's policy is to minimize exposure to price volatility by passing through the commodity price risk to customers, including through the use of fixed price swaps. The Company purchases on behalf of customers fixed price commodity swaps to offset the exposure of price volatility on the underlying sales contracts. These instruments are cash closed out on maturity and the related cost or benefit is passed through to customers. Information about commodity price exposure is derived from supply forecasts submitted by customers and these exposures are hedged by a central treasury unit. Changes in the fair value of commodity hedges are recognized in AOCI. The cumulative amount of the hedge is recognized in the unaudited condensed consolidated statements of income when the forecasted transaction is realized. The Company had the following outstanding commodity contracts to hedge forecasted purchases: December 31, 2021 June 30, 2021 Commodity Volume Volume Aluminum 15,308 tons 22,629 tons PET resin 20,573,040 lbs. 6,312,764 lbs. The following table provides the location of derivative instruments in the unaudited condensed consolidated balance sheets: ($ in millions) Balance Sheet Location December 31, 2021 June 30, 2021 Assets Derivatives in cash flow hedging relationships: Commodity contracts Other current assets $ 6 $ 14 Forward exchange contracts Other current assets 4 3 Derivatives in fair value hedging relationships: Interest rate swaps Other current assets — 15 Derivatives not designated as hedging instruments: Forward exchange contracts Other current assets 5 4 Total current derivative contracts 15 36 Derivatives in cash flow hedging relationships: Commodity contracts Other non-current assets 1 — Derivatives in fair value hedging relationships: Interest rate swaps Other non-current assets — 4 Total non-current derivative contracts 1 4 Total derivative asset contracts $ 16 $ 40 Liabilities Derivatives in cash flow hedging relationships: Forward exchange contracts Other current liabilities 4 2 Derivatives not designated as hedging instruments: Forward exchange contracts Other current liabilities 7 2 Total current derivative contracts 11 4 Derivatives in fair value hedging relationships: Interest rate swaps Other non-current liabilities 2 — Total non-current derivative contracts 2 — Total derivative liability contracts $ 13 $ 4 Certain derivative financial instruments are subject to master netting arrangements and are eligible for offset. The Company has made an accounting policy election not to offset the fair values of these instruments within the unaudited condensed consolidated balance sheets. The following tables provide the effects of derivative instruments on AOCI and in the unaudited condensed consolidated statements of income: Location of Gain/(Loss) Reclassified from AOCI into Income (Effective Portion) Gain/(Loss) Reclassified from AOCI into Income (Effective Portion) Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Derivatives in cash flow hedging relationships Commodity contracts Cost of sales $ 6 $ (1) $ 12 $ (4) Treasury locks Interest expense — — (1) (1) Total $ 6 $ (1) $ 11 $ (5) Location of Gain/(Loss) Recognized in the Unaudited Condensed Consolidated Statements of Income Gain/(Loss) Recognized in Income for Derivatives Not Designated as Hedging Instruments Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Derivatives not designated as hedging instruments Forward exchange contracts Other income, net $ (20) $ 6 $ (33) $ 13 Cross-currency interest rate swaps Other income, net — — — (4) Total $ (20) $ 6 $ (33) $ 9 Location of (Loss) Recognized in the Unaudited Condensed Consolidated Statements of Income (Loss) Recognized in Income for Derivatives in Fair Value Hedging Relationships Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Derivatives in fair value hedging relationships Interest rate swaps Interest expense $ (3) $ (8) $ (7) $ (9) Total $ (3) $ (8) $ (7) $ (9)

Components of Net Periodic Bene

Components of Net Periodic Benefit Cost	6 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Components of Net Periodic Benefit Cost Net periodic benefit cost for benefit plans included the following components: Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Service cost $ 6 $ 6 $ 12 $ 12 Interest cost 10 10 21 20 Expected return on plan assets (17) (15) (33) (30) Amortization of actuarial loss 2 2 3 4 Amortization of prior service credit (1) — (2) — Settlement costs 3 — 3 — Net periodic benefit cost $ 3 $ 3 $ 4 $ 6 Service cost is included in operating income. All other components of net periodic benefit cost other than service cost are recorded within other non-operating income, net. On October 12, 2021, the Company contracted with Pacific Life Insurance Company to purchase a group annuity contract and to transfer $186 million of its pension plan assets and related benefit obligations. This transaction required a remeasurement of the pension plan assets and obligations and resulted in the recognition of a $3 million non-cash pension settlement loss in the three and six months ended December 31, 2021.

Debt

Debt	6 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt On December 15, 2021, the Company redeemed U.S. private placement notes of a principal amount of $275 million at maturity using the proceeds from the commercial paper program. The notes carried an interest rate of 5.95%. On July 15, 2021, the Company redeemed U.S. dollar notes of a principal amount of $400 million. The notes had a contractual maturity of October 15, 2021 and carried an interest rate of 4.50%.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes for the three and six months ended December 31, 2021 and 2020 is based on the Company’s estimated annual effective tax rate for the respective fiscal years, and is applied on income before income taxes and equity in income of affiliated companies, and adjusted for specific items that are required to be recognized in the period in which they are incurred. The effective tax rate for the three months ended December 31, 2021 increased by 1.1 percentage points compared to the three months ended December 31, 2020 from 19.9% to 21.0% primarily due to timing of discrete events in the corresponding periods, including benefits on integration and restructuring costs in the prior period and changes to the taxability of certain items. For the six months ended December 31, 2021 and 2020, the effective tax rate was 22.3%.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity The changes in ordinary and treasury shares during the six months ended December 31, 2021 and 2020 were as follows: Ordinary Shares Treasury Shares (shares and $ in millions) Number of Shares Amount Number of Shares Amount Balance as of June 30, 2020 1,569 $ 16 7 $ (67) Share buy-back/cancellations (7) — Options exercised and shares vested (2) 22 Balance as of December 31, 2020 1,562 $ 16 5 $ (45) Balance as of June 30, 2021 1,538 $ 15 3 $ (29) Share buyback/cancellations (25) — Options exercised and shares vested (11) 125 Purchase of treasury shares 11 (133) Balance as of December 31, 2021 1,513 $ 15 3 $ (37) The changes in the components of accumulated other comprehensive loss during the six months ended December 31, 2021 and 2020 were as follows: Foreign Currency Translation Net Investment Hedge Pension Effective Derivatives Total Accumulated Other Comprehensive Loss ($ in millions) (Net of Tax) (Net of Tax) (Net of Tax) (Net of Tax) Balance as of June 30, 2020 $ (896) $ (14) $ (106) $ (34) $ (1,049) Other comprehensive income/(loss) before reclassifications 127 — (2) 8 133 Amounts reclassified from accumulated other comprehensive loss 25 — 4 4 33 Net current period other comprehensive income 152 — 2 12 166 Balance as of December 31, 2020 $ (744) $ (14) $ (104) $ (22) $ (884) Balance as of June 30, 2021 $ (691) $ (13) $ (54) $ (8) $ (766) Other comprehensive income/(loss) before reclassifications (115) — (1) 2 (114) Amounts reclassified from accumulated other comprehensive loss — — 4 (9) (5) Net current period other comprehensive income/(loss) (115) — 3 (7) (119) Balance as of December 31, 2021 $ (806) $ (13) $ (51) $ (15) $ (885) The following tables provide details of amounts reclassified from accumulated other comprehensive loss: Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Amortization of pension: Amortization of prior service credit $ (1) $ — $ (2) $ — Amortization of actuarial loss 2 2 3 4 Effect of pension settlement/curtailment 3 — 3 — Total before tax effect 4 2 4 4 Tax effect on amounts reclassified into earnings — (1) — — Total net of tax $ 4 $ 1 $ 4 $ 4 (Gains)/losses on cash flow hedges: Commodity contracts $ (6) $ 1 $ (12) $ 4 Treasury locks — — 1 1 Total before tax effect (6) 1 (11) 5 Tax effect on amounts reclassified into earnings 1 — 2 (1) Total net of tax $ (5) $ 1 $ (9) $ 4 Losses on foreign currency translation: Foreign currency translation adjustment (1) $ — $ — $ — $ 25 Total before tax effect — — — 25 Tax effect on amounts reclassified into earnings — — — — Total net of tax $ — $ — $ — $ 25 (1) During the six months ended December 31, 2020, the Company recorded a gain on disposal of AMVIG and other non-core businesses. Upon completion of the disposals, $25 million of accumulated foreign currency translation was transferred from accumulated other comprehensive loss to earnings. Refer to Note 15, "Disposals," for more information on disposals.

Segments

Segments	6 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segments	Segments The Company's business is organized and presented in the two reportable segments outlined below: Flexibles: Consists of operations that manufacture flexible and film packaging in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries. Rigid Packaging: Consists of operations that manufacture rigid containers for a broad range of predominantly beverage and food products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads, and personal care items, and plastic caps for a wide variety of applications. Other consists of the Company's undistributed corporate expenses including executive and functional compensation costs, equity method and other investments, intercompany eliminations, and other business activities. The accounting policies of the reportable segments are the same as those in the unaudited condensed consolidated financial statements. The following table presents information about reportable segments: Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Sales including intersegment sales Flexibles $ 2,713 $ 2,450 $ 5,347 $ 4,850 Rigid Packaging 794 654 1,580 1,352 Other — — — — Total sales including intersegment sales 3,507 3,104 6,927 6,202 Intersegment sales Flexibles — 1 — 2 Rigid Packaging — — — — Other — — — — Total intersegment sales — 1 — 2 Net sales $ 3,507 $ 3,103 $ 6,927 $ 6,200 Adjusted earnings before interest and taxes ("Adjusted EBIT") Flexibles $ 352 $ 341 $ 691 $ 653 Rigid Packaging 55 62 117 134 Other (19) (18) (39) (45) Adjusted EBIT 388 385 769 743 Less: Material restructuring programs (1) (10) (25) (17) (39) Less: Material acquisition costs and other (2) — (4) (2) (13) Less: Amortization of acquired intangible assets from business combinations (3) (41) (41) (82) (82) Less: Impact of hyperinflation (4) (2) (6) (4) (11) Add/(Less): Net gain/(loss) on disposals (5) (9) — (9) 9 Add/(Less): Property and other gains/(losses), net (6) 1 — (27) — Less: Pension settlement (7) (3) — (3) — Earnings before interest and taxes ("EBIT") 324 310 625 608 Interest income 5 4 10 7 Interest expense (39) (37) (79) (77) Equity in income of affiliated companies, net of tax — — — (19) Income before income taxes and equity in income of affiliated companies $ 290 $ 277 $ 556 $ 519 (1) Material restructuring programs includes restructuring and related expenses for the 2019 Bemis Integration Plan for the three and six months ended December 31, 2021 and for the 2018 Rigid Packaging Restructuring Plan and the 2019 Bemis Integration Plan for the three and six months ended December 31, 2020. Refer to Note 3, "Restructuring," for more information about the Company's restructuring activities. (2) Includes costs associated with the Bemis transaction. (3) Amortization of acquired intangible assets from business combinations includes amortization expenses related to all acquired intangible assets from past acquisitions. (4) Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso. (5) Net gain/(loss) on disposals for the three and six months ended December 31, 2021 includes an expense of $9 million triggered by a commitment to sell non-core assets. Refer to Note 6, "Fair Value Measurements" for more information. The six months ended December 31, 2020 includes the gain realized upon the disposal of AMVIG and the loss upon disposal of other non-core businesses not part of material restructuring programs. Refer to Note 15, "Disposals," for more information about the Company's disposals. (6) Property and other gains/(losses), net, includes property and related business losses primarily associated with the destruction of the Company's Durban, South Africa, facility during general civil unrest in July 2021, net of insurance recovery deemed probable for incurred losses. (7) Pension settlement for the three and six months ended December 31, 2021 relates to the purchase of a group annuity contract and transfer of pension plan assets and related benefit obligations. Refer to Note 8, "Components of Net Periodic Benefit Cost" for more information. The following tables disaggregate net sales, excluding intersegment sales, by geography in which the Company operates based on manufacturing or selling operations: Three Months Ended December 31, 2021 2020 ($ in millions) Flexibles Rigid Packaging Total Flexibles Rigid Packaging Total North America $ 1,030 $ 609 $ 1,639 $ 894 $ 523 $ 1,417 Latin America 251 185 436 219 131 350 Europe 985 — 985 938 — 938 Asia Pacific 447 — 447 398 — 398 Net sales $ 2,713 $ 794 $ 3,507 $ 2,449 $ 654 $ 3,103 Six Months Ended December 31, 2021 2020 ($ in millions) Flexibles Rigid Packaging Total Flexibles Rigid Packaging Total North America $ 2,049 $ 1,238 $ 3,287 $ 1,794 $ 1,110 $ 2,904 Latin America 507 342 849 446 242 688 Europe 1,923 — 1,923 1,832 — 1,832 Asia Pacific 868 — 868 776 — 776 Net sales $ 5,347 $ 1,580 $ 6,927 $ 4,848 $ 1,352 $ 6,200

Earnings Per Share Computations

Earnings Per Share Computations	6 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share Computations	Earnings Per Share Computations The Company applies the two-class method when computing its earnings per share ("EPS"), which requires that net income per share for each class of share be calculated assuming all of the Company's net income is distributed as dividends to each class of share based on their contractual rights. Basic EPS is computed by dividing net income available to ordinary shareholders by the weighted-average number of ordinary shares outstanding, after excluding the ordinary shares to be repurchased using forward contracts. Diluted EPS includes the effects of share options, restricted shares, performance rights, performance shares, and share rights, if dilutive. Three Months Ended December 31, Six Months Ended December 31, (in millions, except per share amounts) 2021 2020 2021 2020 Numerator Net income attributable to Amcor plc $ 225 $ 219 $ 427 $ 417 Distributed and undistributed earnings attributable to shares to be repurchased (1) (1) (1) (1) Net income available to ordinary shareholders of Amcor plc—basic and diluted $ 224 $ 218 $ 426 $ 416 Denominator Weighted-average ordinary shares outstanding 1,523 1,562 1,528 1,562 Weighted-average ordinary shares to be repurchased by Amcor plc (3) (2) (4) (2) Weighted-average ordinary shares outstanding for EPS—basic 1,520 1,560 1,524 1,560 Effect of dilutive shares 4 10 4 7 Weighted-average ordinary shares outstanding for EPS—diluted 1,524 1,570 1,528 1,568 Per ordinary share income Basic earnings per ordinary share $ 0.148 $ 0.140 $ 0.280 $ 0.267 Diluted earnings per ordinary share $ 0.148 $ 0.139 $ 0.279 $ 0.265 Note: Per share amounts are computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding and all other quarterly amounts may not equal the total year due to rounding.

Contingencies and Legal Proceed

Contingencies and Legal Proceedings	6 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Legal Proceedings	Contingencies and Legal Proceedings Contingencies - Brazil The Company's operations in Brazil are involved in various governmental assessments and litigation, principally related to claims for excise and income taxes. The Company vigorously defends its positions and believes it will prevail on most, if not all, of these matters. The Company does not believe that the ultimate resolution of these matters will materially impact the Company's consolidated results of operations, financial position, or cash flows. Under customary local regulations, the Company's Brazilian subsidiaries may need to post cash or other collateral, if a challenge to any administrative assessment proceeds to the Brazilian court system. However, the level of cash or collateral already pledged or potentially required to be pledged would not significantly impact the Company's liquidit y. At December 31, 2021 and June 30, 2021, the Company had recorded accruals of $11 million , included in other non-current liabilities. The Company has estimated a reasonably possible loss exposure in excess of the accrual of $18 million and $17 million at December 31, 2021 and June 30, 2021, respectively. The litigation process is subject to many uncertainties and the outcome of individual matters cannot be accurately predicted. The Company routinel y assesses these matters as to probability of ultimately incurring a liability and records the best estimate of the ultimate loss in situations where the likelihood of an ultimate loss is probable. The Company's assessments are based on its knowledge and experience, but the ultimate outcome of any of these matters may differ from the Company's estimates. As of December 31, 2021, the Company has provided letters of credit of $34 million, judicial insurance of $1 million, and deposited cash of $10 million with the courts to continue to defend the cases. Contingencies - Environmental Matters The Company, along with others, has been identified as a potentially responsible party ("PRP") at several waste disposal sites under U.S. federal and related state environmental statutes and regulations and may face potentially material environmental remediation obligations. While the Company benefits from various forms of insurance policies, actual coverage may not, or may only partially, cover the total potential exposures. The Company has recorded aggregate accruals of $17 million for its share of estimated future remediation costs at these sites. In addition to the matters described above, the Company has also recorded aggregate accruals of $48 million for potential liabilities for remediation obligations at various worldwide locations that are owned or operated by the Company, or were formerly owned or operated. While the Company believes that its accruals are adequate to cover its future obligations, there can be no assurance that the ultimate payments will not exceed the accrued amounts. Nevertheless, based on the available information, the Company does not believe that its potential environmental obligations will have a material adverse effect upon its liquidity, results of operations, or financial condition. Other Matters In the normal course of business, the Company is subject to legal proceedings, lawsuits, and other claims. While the potential financial impact with respect to these ordinary course matters is subject to many factors and uncertainties, management believes that any financial impact to the Company from these matters, individually and in the aggregate, would not have a material adverse effect on the Company's financial position or results of operation.

Disposals

Disposals	6 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Disposals	Disposals During the first quarter of fiscal year 2021, th

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 1, 2022, the Company's Board of Directors declared a quarterly cash dividend of $0.12 per share to be paid on March 15, 2022 to shareholders of record as of February 23, 2022. Amcor has received a waiver from the Australian Securities Exchange ("ASX") settlement operating rules, which will allow Amcor to defer processing conversions between ordinary share and CHESS Depositary Instrument ("CDI") registers from February 22, 2022 to February 23, 2022, inclusive. On February 1, 2022, the Company's Board of Directors approved a $200 million buyback of ordinary shares and Chess Depositary Instruments ("CDIs") in addition to the $400 million buyback approved in August 2021. Pursuant to this program, purchases of the Company's ordinary shares and CDIs will be made subject to market conditions and at prevailing market prices, through open market purchases. The Company expects to complete the share buyback in fiscal year 2022; however, the timing, volume and nature of repurchases may be amended, suspended or discontinued at any time.

New Accounting Guidance (Polici

New Accounting Guidance (Policies)	6 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information. Consistent with these requirements, this Form 10-Q does not include all the information required by U.S. GAAP for complete financial statements. It is management's opinion, however, that all material and recurring adjustments have been made that are necessary for a fair statement of its interim financial position, results of operations, and cash flows. For further information, this Form 10-Q should be read in conjunction with the audited Consolidated Financial Statements and accompanying Notes in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2021. There have been no material changes in the accounting policies followed by the Company during the current fiscal year.
Reclassifications	Certain amounts in the Company's notes to unaudited condensed consolidated financial statements may not add or recalculate due to rounding.
Recently Adopted Accounting Standards and Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards In December 2019, the FASB issued updated guidance to simplify the accounting for income taxes by removing certain exceptions and improving the consistent application of U.S. GAAP in other tax accounting areas. This guidance is effective for annual reporting periods, and any interim periods within those annual periods, that begin after December 15, 2020 with early adoption permitted. The guidance became effective for the Company on July 1, 2021 and the adoption did not have a material impact on the Company's unaudited condensed consolidated financial statements. Accounting Standards Not Yet Adopted In November 2021, the FASB issued an Accounting Standards Update ("ASU") 2021-10 that adds certain disclosure requirements for entities that receive government assistance. The standard is effective for annual periods beginning after December 15, 2021 with early application permitted. The Company will adopt this guidance in fiscal year 2023 and does not expect the adoption to have a material impact on its results of operation, financial position, and disclosures. The Company considers the applicability and impact of all ASUs issued by the FASB. The Company determined at this time that all other ASUs not yet adopted are either not applicable or are expected to have minimal impact on its results of operation, financial position, and disclosures.
Restructuring	Restructuring related costs are directly attributable to restructuring activities; however, they do not qualify for special accounting treatment as exit or disposal activities. General integration costs are not linked to restructuring. The Company believes the disclosure of restructuring related costs provides more information on the total cost of the 2019 Bemis Integration Plan. The restructuring related costs relate primarily to the closure of facilities and include costs to replace graphics, train new employees on relocated equipment, and anticipated losses on sale of closed facilitiesThe costs related to restructuring activities have been presented on the unaudited condensed consolidated statements of income as restructuring and related expenses, net. The accruals related to restructuring activities have been recorded on the unaudited condensed consolidated balance sheets under other current liabilities.
Fair Value Measurements	Fair Value Measurements The fair values of the Company’s financial assets and financial liabilities listed below reflect the amounts that would be received to sell the assets or paid to transfer the liabilities in an orderly transaction between market participants at the measurement date (exit price). The Company’s non-derivative financial instruments primarily include cash and cash equivalents, trade receivables, trade payables, short-term debt, and long-term debt. At December 31, 2021 and June 30, 2021, the carrying value of these financial instruments, excluding long-term debt, approximated fair value because of the short-term nature of these instruments. The carrying value of long-term debt with variable interest rates approximates its fair value. The fair value of the Company’s long-term debt with fixed interest rates is based on market prices, if available, or expected future cash flows discounted at the current interest rate for financial liabilities with similar risk profiles. Contingent purchase consideration liabilities arise from business acquisitions. As of December 31, 2021, the Company's contingent purchase consideration liabilities consist of a $10 million liability that is contingent on future royalty income generated by Discma AG, a subsidiary acquired in March 2017, and a $6 million balance relating to consideration for small business acquisitions where payments are contingent on the Company vacating a certain property or performance criteria. The fair value of the contingent purchase consideration liabilities was determined for each arrangement individually. The fair value was determined using the income approach with significant inputs that are not observable in the market. Key assumptions include the discount rates consistent with the level of risk of achievement and probability adjusted financial projections. The expected outcomes are recorded at net present value, which requires adjustment over the life for changes in risks and probabilities. Changes arising from modifications in forecasts related to contingent consideration are expected to be immaterial. The fair value of contingent purchase consideration liabilities is included in other current liabilities and other non-current liabilities in the unaudited condensed consolidated balance sheets. Assets and Liabilities Measured and Recorded at Fair Value on a Nonrecurring Basis In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis. The Company measures certain assets, including technology intangible assets, equity method and other investments, and other long-lived and intangible assets at fair value on a nonrecurring basis when they are deemed to be other than temporarily impaired. The fair values of these assets are determined, when applicable, based on valuation techniques using the best information available, and may include quoted market prices, market comparables, and discounted cash flow projections. Following a commitment to sell non-core assets during the three and six months ended December 31, 2021, the Company has recorded an expense of $9 million, predominantly to adjust the long-lived assets to their fair value less cost to sell as determined in reference to the selling price in the signed sale and purchase agreement. During the six months ended December 31, 2021, long-lived assets with a carrying value of $12 million were written down to a fair value of zero as the Company's Durban, South Africa, manufacturing facility was destroyed in a fire as the result of general civil unrest. In addition, other long-lived assets in South Africa, with a carrying amount of $8 million, were written down to their estimated fair value of $4 million using level 3 inputs. The Company sold its equity method investment in AMVIG Holdings Limited ("AMVIG") on September 30, 2020. Refer to Note 15, "Disposals." The Company tests indefinite-lived intangibles for impairment when facts and circumstances indicate the carrying value may not be recoverable from their undiscounted cash flows. During the six months ended December 31, 2021, and 2020, there were no triggering events and no indefinite-lived intangible impairment charges recorded.
Derivative Instruments	Derivative Instruments The Company periodically uses derivatives and other financial instruments to hedge exposures to interest rate, commodity price, and currency risks. The Company does not hold or issue financial instruments for speculative or trading purposes. For hedges that meet the hedge accounting criteria, the Company, at inception, formally designates and documents the instrument as a fair value hedge or a cash flow hedge of a specific underlying exposure. On an ongoing basis, the Company assesses and documents that its hedges have been and are expected to continue to be highly effective. Interest Rate Risk The Company’s policy is to manage exposure to interest rate risk by maintaining a mixture of fixed-rate and variable-rate debt, monitoring global interest rates and, where appropriate, hedging floating interest rate exposure or debt at fixed interest rates through various interest rate derivative instruments, including, but not limited to, interest rate swaps, cross-currency interest rate swaps, and interest rate locks. For interest rate swaps that are accounted for as fair value hedges, the gains and losses related to the changes in the fair value of the interest rate swaps are included in interest expense and offset changes in the fair value of the hedged portion of the underlying debt that are attributable to the changes in market interest rates. Changes in the fair value of interest rate swaps that have not been designated as hedging instruments are reported in the accompanying unaudited condensed consolidated statements of income under other non-operating income, net. Foreign Currency Risk The Company manufactures and sells its products and finances its operations in a number of countries throughout the world and, as a result, is exposed to movements in foreign currency exchange rates. The purpose of the Company’s foreign currency hedging program is to manage the volatility associated with the changes in exchange rates. To manage this exchange rate risk, the Company utilizes forward contracts. Contracts that qualify for hedge accounting are designated as cash flow hedges of certain forecasted transactions denominated in foreign currencies. The effective portion of the changes in fair value of these instruments is reported in accumulated other comprehensive loss ("AOCI") and reclassified into earnings in the same financial statement line item and in the same period or periods during which the related hedged transactions affect earnings. The ineffective portion is recognized in earnings over the life of the hedging relationship in the same unaudited condensed consolidated statements of income line item as the underlying hedged item. Changes in the fair value of forward contracts that have not been designated as hedging instruments are reported in the accompanying unaudited condensed consolidated statements of income. Commodity Risk Certain raw materials used in the Company's production processes are subject to price volatility caused by weather, supply conditions, political and economic variables, and other unpredictable factors. The Company's policy is to minimize
Components of Net Periodic Costs	Service cost is included in operating income. All other components of net periodic benefit cost other than service cost are recorded within other non-operating income, net
Income Taxes	Income Taxes     The provision for income taxes for the three and six months ended December 31, 2021 and 2020 is based on the Company’s estimated annual effective tax rate for the respective fiscal years, and is applied on income before income taxes and equity in income of affiliated companies, and adjusted for specific items that are required to be recognized in the period in which they are incurred.
Segments	Segments The Company's business is organized and presented in the two reportable segments outlined below: Flexibles: Consists of operations that manufacture flexible and film packaging in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries. Rigid Packaging: Consists of operations that manufacture rigid containers for a broad range of predominantly beverage and food products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads, and personal care items, and plastic caps for a wide variety of applications. Other consists of the Company's undistributed corporate expenses including executive and functional compensation costs, equity method and other investments, intercompany eliminations, and other business activities.
Earnings Per Share Computations	Earnings Per Share Computations The Company applies the two-class method when computing its earnings per share ("EPS"), which requires that net income per share for each class of share be calculated assuming all of the Company's net income is distributed as dividends to each class of share based on their contractual rights. Basic EPS is computed by dividing net income available to ordinary shareholders by the weighted-average number of ordinary shares outstanding, after excluding the ordinary shares to be repurchased using forward contracts. Diluted EPS includes the effects of share options, restricted shares, performance rights, performance shares, and share rights, if dilutive.

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Related Costs	The total costs incurred from the beginning of the Company's 2019 Bemis Integration Plan and Other Restructuring Plans are as follows: ($ in millions) 2019 Bemis Integration Plan (1) Other Restructuring Plans Total Restructuring and Related Expenses (1) Fiscal year 2019 net charges to earnings $ 48 $ 19 $ 67 Fiscal year 2020 net charges to earnings 60 18 78 Fiscal year 2021 net charges to earnings 68 6 74 Fiscal year 2022 first quarter net charges to earnings 7 1 8 Fiscal year 2022 second quarter net charges to earnings 10 — 10 Expense incurred to date $ 193 $ 44 $ 237 (1) Total restructuring and related expenses include restructuring related costs from the 2019 Bemis Integration Plan of $2 million, $15 million, $13 million, $3 million, and $2 million for fiscal year 2019, fiscal year 2020, fiscal year 2021, first quarter of fiscal year 2022, and second quarter of fiscal year 2022, respectively. Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Employee costs $ 1 $ 13 $ 3 $ 25 Fixed asset related costs — 2 — 3 Other costs 7 4 10 13 Total restructuring costs, net $ 8 $ 19 $ 13 $ 41
Schedule of Restructuring Plan Liability	An analysis of the Company's restructuring plan liability follows: ($ in millions) Employee Costs Fixed Asset Related Costs Other Costs Total Restructuring Costs Liability balance at June 30, 2021 $ 78 $ — $ 17 $ 95 Net charges to earnings 3 — 10 13 Cash (paid)/received (16) 2 (10) (24) Other non-cash (1) (2) — (3) Foreign currency translation (4) — (1) (5) Liability balance at December 31, 2021 $ 60 $ — $ 16 $ 76

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	Inventories, net are summarized as follows: ($ in millions) December 31, 2021 June 30, 2021 Raw materials and supplies $ 1,088 $ 905 Work in process and finished goods 1,306 1,193 Less: inventory reserves (121) (107) Total inventories, net $ 2,273 $ 1,991

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets, Net (Tables)	6 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	Changes in the carrying amount of goodwill attributable to each reportable segment were as follows: ($ in millions) Flexibles Segment Rigid Packaging Segment Total Balance as of June 30, 2021 $ 4,437 $ 982 $ 5,419 Foreign currency translation (46) (3) (49) Balance as of December 31, 2021 $ 4,391 $ 979 $ 5,370
Schedule of Components of Intangible Assets	Other intangible assets, net comprised the following: December 31, 2021 ($ in millions) Gross Carrying Amount Accumulated Amortization and Impairment (1) Net Carrying Amount Customer relationships $ 1,979 $ (469) $ 1,510 Computer software 239 (161) 78 Other (2) 327 (166) 161 Total other intangible assets $ 2,545 $ (796) $ 1,749 June 30, 2021 ($ in millions) Gross Carrying Amount Accumulated Amortization and Impairment (1) Net Carrying Amount Customer relationships $ 1,986 $ (405) $ 1,581 Computer software 233 (156) 77 Other (2) 321 (144) 177 Total other intangible assets $ 2,540 $ (705) $ 1,835 (1) Accumulated amortization and impairment included $34 million for December 31, 2021 and June 30, 2021, respectively, of accumulated impairment in the Other category. (2) Other included $17 million for December 31, 2021 and June 30, 2021, respectively, of acquired intellectual property assets not yet being amortized as the related R&D projects have not yet been completed.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Carrying Value and Estimated Fair Value of Long-term Debt	The carrying values and estimated fair values of long-term debt with fixed interest rates (excluding capital leases) were as follows: December 31, 2021 June 30, 2021 Carrying Value Fair Value Carrying Value Fair Value ($ in millions) (Level 2) (Level 2) Total long-term debt with fixed interest rates (excluding commercial paper and finance leases) $ 3,595 $ 3,769 $ 4,325 $ 4,558
Schedule of Fair Value of Instruments Measured on Recurring Basis	The following table summarizes the fair value of these instruments, which are measured at fair value on a recurring basis, by level, within the fair value hierarchy: December 31, 2021 ($ in millions) Level 1 Level 2 Level 3 Total Assets Commodity contracts $ — $ 7 $ — $ 7 Forward exchange contracts — 9 — 9 Total assets measured at fair value $ — $ 16 $ — $ 16 Liabilities Contingent purchase consideration liabilities $ — $ — $ 16 $ 16 Forward exchange contracts — 11 — 11 Interest rate swaps — 2 — 2 Total liabilities measured at fair value $ — $ 13 $ 16 $ 29 June 30, 2021 ($ in millions) Level 1 Level 2 Level 3 Total Assets Commodity contracts $ — $ 14 $ — $ 14 Forward exchange contracts — 7 — 7 Interest rate swaps — 19 — 19 Total assets measured at fair value $ — $ 40 $ — $ 40 Liabilities Contingent purchase consideration liabilities $ — $ — $ 18 $ 18 Forward exchange contracts — 4 — 4 Total liabilities measured at fair value $ — $ 4 $ 18 $ 22

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Commodity Contracts	The Company had the following outstanding commodity contracts to hedge forecasted purchases: December 31, 2021 June 30, 2021 Commodity Volume Volume Aluminum 15,308 tons 22,629 tons PET resin 20,573,040 lbs. 6,312,764 lbs.
Schedule of Derivative Liabilities at Fair Value	The following table provides the location of derivative instruments in the unaudited condensed consolidated balance sheets: ($ in millions) Balance Sheet Location December 31, 2021 June 30, 2021 Assets Derivatives in cash flow hedging relationships: Commodity contracts Other current assets $ 6 $ 14 Forward exchange contracts Other current assets 4 3 Derivatives in fair value hedging relationships: Interest rate swaps Other current assets — 15 Derivatives not designated as hedging instruments: Forward exchange contracts Other current assets 5 4 Total current derivative contracts 15 36 Derivatives in cash flow hedging relationships: Commodity contracts Other non-current assets 1 — Derivatives in fair value hedging relationships: Interest rate swaps Other non-current assets — 4 Total non-current derivative contracts 1 4 Total derivative asset contracts $ 16 $ 40 Liabilities Derivatives in cash flow hedging relationships: Forward exchange contracts Other current liabilities 4 2 Derivatives not designated as hedging instruments: Forward exchange contracts Other current liabilities 7 2 Total current derivative contracts 11 4 Derivatives in fair value hedging relationships: Interest rate swaps Other non-current liabilities 2 — Total non-current derivative contracts 2 — Total derivative liability contracts $ 13 $ 4
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following tables provide the effects of derivative instruments on AOCI and in the unaudited condensed consolidated statements of income: Location of Gain/(Loss) Reclassified from AOCI into Income (Effective Portion) Gain/(Loss) Reclassified from AOCI into Income (Effective Portion) Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Derivatives in cash flow hedging relationships Commodity contracts Cost of sales $ 6 $ (1) $ 12 $ (4) Treasury locks Interest expense — — (1) (1) Total $ 6 $ (1) $ 11 $ (5)
Schedule of Derivatives Not Designated as Hedging Instruments	Location of Gain/(Loss) Recognized in the Unaudited Condensed Consolidated Statements of Income Gain/(Loss) Recognized in Income for Derivatives Not Designated as Hedging Instruments Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Derivatives not designated as hedging instruments Forward exchange contracts Other income, net $ (20) $ 6 $ (33) $ 13 Cross-currency interest rate swaps Other income, net — — — (4) Total $ (20) $ 6 $ (33) $ 9
Schedule of Fair Value Hedging Instruments In Condensed Consolidated Statement of Income	Location of (Loss) Recognized in the Unaudited Condensed Consolidated Statements of Income (Loss) Recognized in Income for Derivatives in Fair Value Hedging Relationships Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Derivatives in fair value hedging relationships Interest rate swaps Interest expense $ (3) $ (8) $ (7) $ (9) Total $ (3) $ (8) $ (7) $ (9)

Components of Net Periodic Be_2

Components of Net Periodic Benefit Cost (Tables)	6 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Schedule of Components of Net Benefit Costs	Net periodic benefit cost for benefit plans included the following components: Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Service cost $ 6 $ 6 $ 12 $ 12 Interest cost 10 10 21 20 Expected return on plan assets (17) (15) (33) (30) Amortization of actuarial loss 2 2 3 4 Amortization of prior service credit (1) — (2) — Settlement costs 3 — 3 — Net periodic benefit cost $ 3 $ 3 $ 4 $ 6

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Changes in Ordinary and Treasury Shares	The changes in ordinary and treasury shares during the six months ended December 31, 2021 and 2020 were as follows: Ordinary Shares Treasury Shares (shares and $ in millions) Number of Shares Amount Number of Shares Amount Balance as of June 30, 2020 1,569 $ 16 7 $ (67) Share buy-back/cancellations (7) — Options exercised and shares vested (2) 22 Balance as of December 31, 2020 1,562 $ 16 5 $ (45) Balance as of June 30, 2021 1,538 $ 15 3 $ (29) Share buyback/cancellations (25) — Options exercised and shares vested (11) 125 Purchase of treasury shares 11 (133) Balance as of December 31, 2021 1,513 $ 15 3 $ (37)
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in the components of accumulated other comprehensive loss during the six months ended December 31, 2021 and 2020 were as follows: Foreign Currency Translation Net Investment Hedge Pension Effective Derivatives Total Accumulated Other Comprehensive Loss ($ in millions) (Net of Tax) (Net of Tax) (Net of Tax) (Net of Tax) Balance as of June 30, 2020 $ (896) $ (14) $ (106) $ (34) $ (1,049) Other comprehensive income/(loss) before reclassifications 127 — (2) 8 133 Amounts reclassified from accumulated other comprehensive loss 25 — 4 4 33 Net current period other comprehensive income 152 — 2 12 166 Balance as of December 31, 2020 $ (744) $ (14) $ (104) $ (22) $ (884) Balance as of June 30, 2021 $ (691) $ (13) $ (54) $ (8) $ (766) Other comprehensive income/(loss) before reclassifications (115) — (1) 2 (114) Amounts reclassified from accumulated other comprehensive loss — — 4 (9) (5) Net current period other comprehensive income/(loss) (115) — 3 (7) (119) Balance as of December 31, 2021 $ (806) $ (13) $ (51) $ (15) $ (885)
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	The following tables provide details of amounts reclassified from accumulated other comprehensive loss: Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Amortization of pension: Amortization of prior service credit $ (1) $ — $ (2) $ — Amortization of actuarial loss 2 2 3 4 Effect of pension settlement/curtailment 3 — 3 — Total before tax effect 4 2 4 4 Tax effect on amounts reclassified into earnings — (1) — — Total net of tax $ 4 $ 1 $ 4 $ 4 (Gains)/losses on cash flow hedges: Commodity contracts $ (6) $ 1 $ (12) $ 4 Treasury locks — — 1 1 Total before tax effect (6) 1 (11) 5 Tax effect on amounts reclassified into earnings 1 — 2 (1) Total net of tax $ (5) $ 1 $ (9) $ 4 Losses on foreign currency translation: Foreign currency translation adjustment (1) $ — $ — $ — $ 25 Total before tax effect — — — 25 Tax effect on amounts reclassified into earnings — — — — Total net of tax $ — $ — $ — $ 25 (1) During the six months ended December 31, 2020, the Company recorded a gain on disposal of AMVIG and other non-core businesses. Upon completion of the disposals, $25 million of accumulated foreign currency translation was transferred from accumulated other comprehensive loss to earnings. Refer to Note 15, "Disposals," for more information on disposals.

Segments (Tables)

Segments (Tables)	6 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Information About Reportable Segments	The following table presents information about reportable segments: Three Months Ended December 31, Six Months Ended December 31, ($ in millions) 2021 2020 2021 2020 Sales including intersegment sales Flexibles $ 2,713 $ 2,450 $ 5,347 $ 4,850 Rigid Packaging 794 654 1,580 1,352 Other — — — — Total sales including intersegment sales 3,507 3,104 6,927 6,202 Intersegment sales Flexibles — 1 — 2 Rigid Packaging — — — — Other — — — — Total intersegment sales — 1 — 2 Net sales $ 3,507 $ 3,103 $ 6,927 $ 6,200 Adjusted earnings before interest and taxes ("Adjusted EBIT") Flexibles $ 352 $ 341 $ 691 $ 653 Rigid Packaging 55 62 117 134 Other (19) (18) (39) (45) Adjusted EBIT 388 385 769 743 Less: Material restructuring programs (1) (10) (25) (17) (39) Less: Material acquisition costs and other (2) — (4) (2) (13) Less: Amortization of acquired intangible assets from business combinations (3) (41) (41) (82) (82) Less: Impact of hyperinflation (4) (2) (6) (4) (11) Add/(Less): Net gain/(loss) on disposals (5) (9) — (9) 9 Add/(Less): Property and other gains/(losses), net (6) 1 — (27) — Less: Pension settlement (7) (3) — (3) — Earnings before interest and taxes ("EBIT") 324 310 625 608 Interest income 5 4 10 7 Interest expense (39) (37) (79) (77) Equity in income of affiliated companies, net of tax — — — (19) Income before income taxes and equity in income of affiliated companies $ 290 $ 277 $ 556 $ 519 (1) Material restructuring programs includes restructuring and related expenses for the 2019 Bemis Integration Plan for the three and six months ended December 31, 2021 and for the 2018 Rigid Packaging Restructuring Plan and the 2019 Bemis Integration Plan for the three and six months ended December 31, 2020. Refer to Note 3, "Restructuring," for more information about the Company's restructuring activities. (2) Includes costs associated with the Bemis transaction. (3) Amortization of acquired intangible assets from business combinations includes amortization expenses related to all acquired intangible assets from past acquisitions. (4) Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso. (5) Net gain/(loss) on disposals for the three and six months ended December 31, 2021 includes an expense of $9 million triggered by a commitment to sell non-core assets. Refer to Note 6, "Fair Value Measurements" for more information. The six months ended December 31, 2020 includes the gain realized upon the disposal of AMVIG and the loss upon disposal of other non-core businesses not part of material restructuring programs. Refer to Note 15, "Disposals," for more information about the Company's disposals. (6) Property and other gains/(losses), net, includes property and related business losses primarily associated with the destruction of the Company's Durban, South Africa, facility during general civil unrest in July 2021, net of insurance recovery deemed probable for incurred losses. (7) Pension settlement for the three and six months ended December 31, 2021 relates to the purchase of a group annuity contract and transfer of pension plan assets and related benefit obligations. Refer to Note 8, "Components of Net Periodic Benefit Cost" for more information.
Schedule of Disaggregation of Revenue by Segments	The following tables disaggregate net sales, excluding intersegment sales, by geography in which the Company operates based on manufacturing or selling operations: Three Months Ended December 31, 2021 2020 ($ in millions) Flexibles Rigid Packaging Total Flexibles Rigid Packaging Total North America $ 1,030 $ 609 $ 1,639 $ 894 $ 523 $ 1,417 Latin America 251 185 436 219 131 350 Europe 985 — 985 938 — 938 Asia Pacific 447 — 447 398 — 398 Net sales $ 2,713 $ 794 $ 3,507 $ 2,449 $ 654 $ 3,103 Six Months Ended December 31, 2021 2020 ($ in millions) Flexibles Rigid Packaging Total Flexibles Rigid Packaging Total North America $ 2,049 $ 1,238 $ 3,287 $ 1,794 $ 1,110 $ 2,904 Latin America 507 342 849 446 242 688 Europe 1,923 — 1,923 1,832 — 1,832 Asia Pacific 868 — 868 776 — 776 Net sales $ 5,347 $ 1,580 $ 6,927 $ 4,848 $ 1,352 $ 6,200

Earnings Per Share Computatio_2

Earnings Per Share Computations (Tables)	6 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Computations	Basic EPS is computed by dividing net income available to ordinary shareholders by the weighted-average number of ordinary shares outstanding, after excluding the ordinary shares to be repurchased using forward contracts. Diluted EPS includes the effects of share options, restricted shares, performance rights, performance shares, and share rights, if dilutive. Three Months Ended December 31, Six Months Ended December 31, (in millions, except per share amounts) 2021 2020 2021 2020 Numerator Net income attributable to Amcor plc $ 225 $ 219 $ 427 $ 417 Distributed and undistributed earnings attributable to shares to be repurchased (1) (1) (1) (1) Net income available to ordinary shareholders of Amcor plc—basic and diluted $ 224 $ 218 $ 426 $ 416 Denominator Weighted-average ordinary shares outstanding 1,523 1,562 1,528 1,562 Weighted-average ordinary shares to be repurchased by Amcor plc (3) (2) (4) (2) Weighted-average ordinary shares outstanding for EPS—basic 1,520 1,560 1,524 1,560 Effect of dilutive shares 4 10 4 7 Weighted-average ordinary shares outstanding for EPS—diluted 1,524 1,570 1,528 1,568 Per ordinary share income Basic earnings per ordinary share $ 0.148 $ 0.140 $ 0.280 $ 0.267 Diluted earnings per ordinary share $ 0.148 $ 0.139 $ 0.279 $ 0.265 Note: Per share amounts are computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding and all other quarterly amounts may not equal the total year due to rounding.

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended			31 Months Ended	42 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2021	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Payment for restructuring				$ 24
Net charges to earnings	$ 10	$ 8				$ 74	$ 78	$ 67		$ 237
Employee Costs
Restructuring Cost and Reserve [Line Items]
Payment for restructuring				16
Other Costs
Restructuring Cost and Reserve [Line Items]
Payment for restructuring				10
2019 Bemis Integration Plan
Restructuring Cost and Reserve [Line Items]
Anticipated Business Combination Savings	180
Payment for restructuring				30
Payments for restructuring and related expenses				28
Net charges to earnings	10	7				68	60	48		193
2019 Bemis Integration Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	160			160					$ 160	160
Expected cash payments for restructuring	60			60					60	60
Restructuring Costs									230
2019 Bemis Integration Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	170			170					170	170
Expected cash payments for restructuring	65			65					65	65
Restructuring Costs									250
2019 Bemis Integration Plan | Restructuring and Related Costs | Minimum
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	190			190					190	190
2019 Bemis Integration Plan | Restructuring and Related Costs | Maximum
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	210			210					210	210
2019 Bemis Integration Plan | Integration Costs
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	40			40					40	40
Expected restructuring costs	40			40					40	40
2019 Bemis Integration Plan | Employee Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Costs									137
2019 Bemis Integration Plan | Fixed Asset Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Costs									39
2019 Bemis Integration Plan | Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Costs									35
2019 Bemis Integration Plan | Restructuring Related
Restructuring Cost and Reserve [Line Items]
Gain on disposal of business excluded from restructuring expenses						51
Restructuring Costs									$ 33
Other Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Net charges to earnings	$ 0	$ 1	$ 0	$ 1	$ 9	$ 6	$ 18	$ 19		$ 44

Restructuring - Restructuring C

Restructuring - Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended			42 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Net charges to earnings	$ 10	$ 8				$ 74	$ 78	$ 67	$ 237
2019 Bemis Integration Plan
Restructuring Cost and Reserve [Line Items]
Net charges to earnings	10	7				68	60	48	193
Restructuring Related Costs	2	3				13	15	2
Other Restructuring Plans
Restructuring Cost and Reserve [Line Items]
Net charges to earnings	$ 0	$ 1	$ 0	$ 1	$ 9	$ 6	$ 18	$ 19	$ 44

Restructuring - Restructuring_2

Restructuring - Restructuring Charges by Type (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Employee costs	$ 1	$ 13	$ 3	$ 25
Fixed asset related costs	0	2	0	3
Other costs	7	4	10	13
Net charges to earnings	$ 8	$ 19	$ 13	$ 41

Restructuring - Restructuring P

Restructuring - Restructuring Plan Liability (Details) $ in Millions	6 Months Ended
	Dec. 31, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Liability balance at June 30, 2021	$ 95
Net charges to earnings	13
Cash paid	(24)
Other non-cash	(3)
Foreign currency translation	(5)
Liability balance at December 31, 2021	76
Employee Costs
Restructuring Cost and Reserve [Line Items]
Liability balance at June 30, 2021	78
Net charges to earnings	3
Cash paid	(16)
Other non-cash	(1)
Foreign currency translation	(4)
Liability balance at December 31, 2021	60
Fixed Asset Related Costs
Restructuring Cost and Reserve [Line Items]
Liability balance at June 30, 2021	0
Net charges to earnings	0
Cash received	2
Other non-cash	(2)
Foreign currency translation	0
Liability balance at December 31, 2021	0
Other Costs
Restructuring Cost and Reserve [Line Items]
Liability balance at June 30, 2021	17
Net charges to earnings	10
Cash paid	(10)
Other non-cash	0
Foreign currency translation	(1)
Liability balance at December 31, 2021	$ 16

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 1,088	$ 905
Work in process and finished goods	1,306	1,193
Less: inventory reserves	(121)	(107)
Total inventories, net	$ 2,273	$ 1,991

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 45	$ 45	$ 90	$ 90

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets, Net - Changes in Carrying Amount of Goodwill (Details) $ in Millions	6 Months Ended
	Dec. 31, 2021USD ($)
Goodwill [Line Items]
Balance as of June 30, 2021	$ 5,419
Foreign currency translation	(49)
Balance as of December 31, 2021	5,370
Flexibles
Goodwill [Line Items]
Balance as of June 30, 2021	4,437
Foreign currency translation	(46)
Balance as of December 31, 2021	4,391
Rigid Packaging
Goodwill [Line Items]
Balance as of June 30, 2021	982
Foreign currency translation	(3)
Balance as of December 31, 2021	$ 979

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets, Net - Components of Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,545	$ 2,540
Accumulated Amortization and Impairment (1)	(796)	(705)
Net Carrying Amount	1,749	1,835
Finite-Lived Intangible Assets, Accumulated Impairment Loss	34	34
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,979	1,986
Accumulated Amortization and Impairment (1)	(469)	(405)
Net Carrying Amount	1,510	1,581
Computer software
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	239	233
Accumulated Amortization and Impairment (1)	(161)	(156)
Net Carrying Amount	78	77
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	327	321
Accumulated Amortization and Impairment (1)	(166)	(144)
Net Carrying Amount	161	177
Intellectual Property
Acquired Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 17	$ 17

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Value and Fair Value of Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total long-term debt with fixed interest rates (excluding commercial paper and finance leases)	$ 3,595	$ 4,325
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total long-term debt with fixed interest rates (excluding commercial paper and finance leases)	$ 3,769	$ 4,558

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 16	$ 40
Derivative liabilities	13	4
Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Contingent purchase consideration liabilities	0	0
Derivative liabilities	0	0
Level 1 | Commodity contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 1 | Forward exchange contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liabilities	0	0
Level 1 | Interest rate swaps | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		0
Derivative liabilities	0
Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	16	40
Contingent purchase consideration liabilities	0	0
Derivative liabilities	13	4
Level 2 | Commodity contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	7	14
Level 2 | Forward exchange contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	9	7
Derivative liabilities	11	4
Level 2 | Interest rate swaps | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		19
Derivative liabilities	2
Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Contingent purchase consideration liabilities	16	18
Derivative liabilities	16	18
Level 3 | Commodity contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Level 3 | Forward exchange contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0	0
Derivative liabilities	0	0
Level 3 | Interest rate swaps | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		0
Derivative liabilities	0
Total | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	16	40
Contingent purchase consideration liabilities	16	18
Derivative liabilities	29	22
Total | Commodity contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	7	14
Total | Forward exchange contracts | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	9	7
Derivative liabilities	11	4
Total | Interest rate swaps | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset		$ 19
Derivative liabilities	$ 2

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset Impairment Charges	$ 9,000,000
Technology intangible impairment charges		$ 0	$ 0
SOUTH AFRICA | Durban Manufacturing Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impaired Assets to be Disposed of by Method Other than Sale, Carrying Value of Asset	12,000,000	12,000,000
SOUTH AFRICA | Durban Manufacturing Facility | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Property, Plant, and Equipment, Fair Value Disclosure	0	0
SOUTH AFRICA | Other Long-lived Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impaired Assets to be Disposed of by Method Other than Sale, Carrying Value of Asset	8,000,000	8,000,000
SOUTH AFRICA | Other Long-lived Assets | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other Assets, Fair Value Disclosure	4,000,000	4,000,000
Discma AG [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent purchase consideration liabilities	10,000,000	10,000,000
Non-Core Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent purchase consideration liabilities	$ 6,000,000	$ 6,000,000

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) € in Millions	Dec. 15, 2021USD ($)	Jul. 15, 2021USD ($)	Jul. 31, 2021USD ($)	Jul. 31, 2021EUR (€)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 16, 2021EUR (€)	Dec. 15, 2021EUR (€)	Jul. 31, 2021EUR (€)	Jun. 30, 2021USD ($)
Derivative [Line Items]
Repayments of Long-term Debt					$ 677,000,000	$ 121,000,000
Loans Payable | U.S. Dollar Notes due 2021
Derivative [Line Items]
Repayments of Long-term Debt		$ 400,000,000
Debt Instrument, Interest Rate, Stated Percentage		4.50%
Loans Payable | Euro Bonds Due 2023
Derivative [Line Items]
Debt Instrument, Face Amount					$ 300,000,000
Debt Instrument, Interest Rate, Stated Percentage					2.75%
Loans Payable | US Dollar Notes Due 2028
Derivative [Line Items]
Debt Instrument, Face Amount					$ 500,000,000
Debt Instrument, Interest Rate, Stated Percentage					4.50%
Loans Payable | US Dollar Notes Due 2021
Derivative [Line Items]
Repayments of Long-term Debt	$ 275,000,000
Debt Instrument, Interest Rate, Stated Percentage								5.95%
Interest rate swaps
Derivative [Line Items]
Derivative, Notional Amount					$ 650,000,000					$ 1,257,000,000
Interest rate swaps | Loans Payable | US Dollar Notes Due 2028
Derivative [Line Items]
Percentage of Debt Hedged by Interest Rate Derivatives					50.00%
Interest Rate Swap-U.S. Dollar | Designated as Hedging Instrument | Fair value hedging
Derivative [Line Items]
Derivative, Notional Amount			$ 400,000,000
Proceeds from settled derivatives			2,000,000
Interest Rate Swap-EURO | Designated as Hedging Instrument | Fair value hedging
Derivative [Line Items]
Derivative, Notional Amount			357,000,000						€ 300
Proceeds from settled derivatives			$ 15,000,000	€ 13
Forward exchange contracts
Derivative [Line Items]
Derivative, Notional Amount					$ 1,100,000,000					$ 1,100,000,000
Interest Rate Swap - USD 250 | Designated as Hedging Instrument | Fair value hedging
Derivative [Line Items]
Derivative, Notional Amount | €							€ 250
Interest Rate Swap - USD 100 | Designated as Hedging Instrument | Fair value hedging
Derivative [Line Items]
Derivative, Notional Amount | €								€ 100

Derivative Instruments - Outsta

Derivative Instruments - Outstanding Commodity Contracts (Details)	Dec. 31, 2021lbT	Jun. 30, 2021lbT
Aluminum
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | T	15,308	22,629
PET resin
Derivative [Line Items]
Derivative, Nonmonetary Notional Amount | lb	20,573,040	6,312,764

Derivative Instruments - Financ

Derivative Instruments - Financial Statement Location (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Derivatives, Fair Value [Line Items]
Derivative asset	$ 16	$ 40
Derivative liabilities	13	4
Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	15	36
Other non-current assets
Derivatives, Fair Value [Line Items]
Derivative asset	1	4
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	11	4
Other non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	2	0
Forward exchange contracts | Not designated as hedging instrument | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	5	4
Forward exchange contracts | Not designated as hedging instrument | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	7	2
Cash flow hedging | Commodity contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	6	14
Cash flow hedging | Commodity contracts | Other non-current assets
Derivatives, Fair Value [Line Items]
Derivative asset	1	0
Cash flow hedging | Forward exchange contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	4	3
Cash flow hedging | Forward exchange contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	4	2
Fair value hedging | Interest rate swaps | Other current assets
Derivatives, Fair Value [Line Items]
Derivative asset	0	15
Fair value hedging | Interest rate swaps | Other non-current assets
Derivatives, Fair Value [Line Items]
Derivative asset	0	4
Fair value hedging | Interest rate swaps | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative asset	$ 2	$ 0

Derivative Instruments - Effect

Derivative Instruments - Effects of Derivatives on AOCI and Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Cash flow hedging
Derivative [Line Items]
Gain/(Loss) Reclassified from AOCI into Income (Effective Portion)	$ 6	$ (1)	$ 11	$ (5)
Cash flow hedging | Cost of sales | Commodity contracts
Derivative [Line Items]
Gain/(Loss) Reclassified from AOCI into Income (Effective Portion)	6	(1)	12	(4)
Cash flow hedging | Interest expense | Treasury locks
Derivative [Line Items]
Gain/(Loss) Reclassified from AOCI into Income (Effective Portion)	0	0	(1)	(1)
Fair value hedging
Derivative [Line Items]
(Loss) Recognized in Income for Derivatives in Fair Value Hedging Relationships	(3)	(8)	(7)	(9)
Fair value hedging | Interest expense | Interest rate swaps
Derivative [Line Items]
(Loss) Recognized in Income for Derivatives in Fair Value Hedging Relationships	(3)	(8)	(7)	(9)
Not designated as hedging instrument
Derivative [Line Items]
Gain/(Loss) Recognized in Income for Derivatives Not Designated as Hedging Instruments	(20)	6	(33)	9
Not designated as hedging instrument | Other income, net | Forward exchange contracts
Derivative [Line Items]
Gain/(Loss) Recognized in Income for Derivatives Not Designated as Hedging Instruments	(20)	6	(33)	13
Not designated as hedging instrument | Other income, net | Cross currency interest rate swaps
Derivative [Line Items]
Gain/(Loss) Recognized in Income for Derivatives Not Designated as Hedging Instruments	$ 0	$ 0	$ 0	$ (4)

Components of Net Periodic Be_3

Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	Oct. 12, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Service cost		$ 6	$ 6	$ 12	$ 12
Interest cost		10	10	21	20
Expected return on plan assets		(17)	(15)	(33)	(30)
Amortization of actuarial loss		2	2	3	4
Amortization of prior service credit		(1)	0	(2)	0
Settlement costs	$ 3	3	0	3	0
Net periodic benefit cost		$ 3	$ 3	$ 4	$ 6
Pension plan assets transferred to annuity contract	$ 186

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Dec. 15, 2021	Jul. 15, 2021	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument, Redemption [Line Items]
Repayments of Long-term Debt			$ 677	$ 121
Loans Payable | US Dollar Notes Due 2021
Debt Instrument, Redemption [Line Items]
Repayments of Long-term Debt	$ 275
Debt Instrument, Interest Rate, Stated Percentage	5.95%
Loans Payable | U.S. Dollar Flexibles North America Notes Due 2026
Debt Instrument, Redemption [Line Items]
Repayments of Long-term Debt		$ 400
Debt Instrument, Interest Rate, Stated Percentage		4.50%

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Increase in effective tax rate	1.10%
Effective tax rate	21.00%	19.90%	22.30%	22.30%

Shareholders' Equity - Changes

Shareholders' Equity - Changes in Ordinary and Treasury Shares (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Beginning Balance	$ 4,705	$ 4,744	$ 4,821	$ 4,687
Share buyback/cancellations	(231)	(75)	(295)	(75)
Purchase of treasury shares	(2)		(133)
Ending Balance	4,519	4,848	$ 4,519	$ 4,848
Ordinary Shares
Beginning Balance (shares)			1,538	1,569
Beginning Balance	$ 15	$ 16	$ 15	$ 16
Share buyback/cancellations			(25)	(7)
Share buyback/cancellations			$ 0	$ 0
Ending Balance (shares)	1,513	1,562	1,513	1,562
Ending Balance	$ 15	$ 16	$ 15	$ 16
Treasury Shares
Beginning Balance (shares)			3	7
Beginning Balance	(50)	$ (49)	$ (29)	$ (67)
Options exercised and shares vested			(11)	(2)
Options exercised and shares vested			$ 125	$ 22
Purchase of treasury shares			11
Purchase of treasury shares	$ (2)		$ (133)
Ending Balance (shares)	3	5	3	5
Ending Balance	$ (37)	$ (45)	$ (37)	$ (45)

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	$ (766)
Accumulated other comprehensive income (loss), ending balance	(885)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(691)	$ (896)
Other comprehensive income/(loss) before reclassifications	(115)	127
Amounts reclassified from accumulated other comprehensive loss	0	25
Net current period other comprehensive income	(115)	152
Accumulated other comprehensive income (loss), ending balance	(806)	(744)
Net Investment Hedge
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(13)	(14)
Other comprehensive income/(loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	0	0
Net current period other comprehensive income	0	0
Accumulated other comprehensive income (loss), ending balance	(13)	(14)
Pension
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(54)	(106)
Other comprehensive income/(loss) before reclassifications	(1)	(2)
Amounts reclassified from accumulated other comprehensive loss	4	4
Net current period other comprehensive income	3	2
Accumulated other comprehensive income (loss), ending balance	(51)	(104)
Effective Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(8)	(34)
Other comprehensive income/(loss) before reclassifications	2	8
Amounts reclassified from accumulated other comprehensive loss	(9)	4
Net current period other comprehensive income	(7)	12
Accumulated other comprehensive income (loss), ending balance	(15)	(22)
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(766)	(1,049)
Other comprehensive income/(loss) before reclassifications	(114)	133
Amounts reclassified from accumulated other comprehensive loss	(5)	33
Net current period other comprehensive income	(119)	166
Accumulated other comprehensive income (loss), ending balance	$ (885)	$ (884)

Shareholders' Equity - Amounts

Shareholders' Equity - Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Goods and Services Sold	$ 2,862	$ 2,452	$ 5,632	$ 4,895
Total before tax effect	290	277	556	519
Tax effect on amounts reclassified into earnings	(61)	(55)	(124)	(116)
Net income attributable to Amcor plc	225	219	427	417
Amortization of prior service credit | Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Goods and Services Sold	(1)	0	(2)	0
Amortization of actuarial loss | Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Goods and Services Sold	2	2	3	4
Accumulated Defined Benefit Plans Adjustments | Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Total before tax effect	4	2	4	4
Tax effect on amounts reclassified into earnings	0	(1)	0	0
Net income attributable to Amcor plc	4	1	4	4
(Gains) losses on cash flow hedges | Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Total before tax effect	(6)	1	(11)	5
Tax effect on amounts reclassified into earnings	1	0	2	(1)
Net income attributable to Amcor plc	(5)	1	(9)	4
(Gains) losses on cash flow hedges | Reclassification out of AOCI | Commodity contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Goods and Services Sold	(6)	1	(12)	4
(Gains) losses on cash flow hedges | Reclassification out of AOCI | Treasury locks
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Goods and Services Sold	0	0	1	1
(Gains) losses on foreign currency translation | Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Goods and Services Sold	0	0	0	25
Total before tax effect	0	0	0	25
Tax effect on amounts reclassified into earnings	0	0	0	0
Net income attributable to Amcor plc	0	0	0	25
Net gain realized on sale of equity method investment				25
Settlement/Curtailment [Member] | Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Cost of Goods and Services Sold	$ 3	$ 0	$ 3	$ 0

Segments - Narrative (Details)

Segments - Narrative (Details)	6 Months Ended
	Dec. 31, 2021segment
Segment Reporting [Abstract]
Number of Reportable Segments	2
Number of Operating Segments	2

Segments - Reportable Segment S

Segments - Reportable Segment Summary Information (Details) - USD ($) $ in Millions	Oct. 12, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net sales		$ 3,507	$ 3,103	$ 6,927	$ 6,200
Adjusted earnings before interest and taxes ("Adjusted EBIT")		388	385	769	743
Material Restructuring Programs		(10)	(25)	(17)	(39)
Material Acquisition Costs and Other		0	(4)	(2)	(13)
Amortization of Acquired Intangible Assets in Business Combinations		(41)	(41)	(82)	(82)
Impact of Hyperinflation		(2)	(6)	(4)	(11)
Gain (loss) on disposals		(9)	0	(9)	9
Property and other losses, net		1	0	(27)	0
Less: Pension settlement	$ 3	3	0	3	0
Earnings before interest and taxes ("EBIT")		324	310	625	608
Interest income		5	4	10	7
Interest expense		(39)	(37)	(79)	(77)
Equity in income of affiliated companies		0	0	0	(19)
Income before income taxes and equity in income of affiliated companies		290	277	556	519
Asset Impairment Charges		9
Flexibles
Segment Reporting Information [Line Items]
Net sales		2,713	2,449	5,347	4,848
Adjusted earnings before interest and taxes ("Adjusted EBIT")		352	341	691	653
Rigid Packaging
Segment Reporting Information [Line Items]
Net sales		794	654	1,580	1,352
Adjusted earnings before interest and taxes ("Adjusted EBIT")		55	62	117	134
Other
Segment Reporting Information [Line Items]
Adjusted earnings before interest and taxes ("Adjusted EBIT")		(19)	(18)	(39)	(45)
Reportable segments
Segment Reporting Information [Line Items]
Net sales		3,507	3,104	6,927	6,202
Reportable segments | Flexibles
Segment Reporting Information [Line Items]
Net sales		2,713	2,450	5,347	4,850
Reportable segments | Rigid Packaging
Segment Reporting Information [Line Items]
Net sales		794	654	1,580	1,352
Reportable segments | Other
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales		0	1	0	2
Intersegment eliminations | Flexibles
Segment Reporting Information [Line Items]
Net sales		0	1	0	2
Intersegment eliminations | Rigid Packaging
Segment Reporting Information [Line Items]
Net sales		0	0	0	0
Intersegment eliminations | Other
Segment Reporting Information [Line Items]
Net sales		$ 0	$ 0	$ 0	$ 0

Segments - Segment Disaggregati

Segments - Segment Disaggregation of Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 3,507	$ 3,103	$ 6,927	$ 6,200
Flexibles
Disaggregation of Revenue [Line Items]
Net sales	2,713	2,449	5,347	4,848
Rigid Packaging
Disaggregation of Revenue [Line Items]
Net sales	794	654	1,580	1,352
North America
Disaggregation of Revenue [Line Items]
Net sales	1,639	1,417	3,287	2,904
North America | Flexibles
Disaggregation of Revenue [Line Items]
Net sales	1,030	894	2,049	1,794
North America | Rigid Packaging
Disaggregation of Revenue [Line Items]
Net sales	609	523	1,238	1,110
Latin America
Disaggregation of Revenue [Line Items]
Net sales	436	350	849	688
Latin America | Flexibles
Disaggregation of Revenue [Line Items]
Net sales	251	219	507	446
Latin America | Rigid Packaging
Disaggregation of Revenue [Line Items]
Net sales	185	131	342	242
Europe
Disaggregation of Revenue [Line Items]
Net sales	985	938	1,923	1,832
Europe | Flexibles
Disaggregation of Revenue [Line Items]
Net sales	985	938	1,923	1,832
Europe | Rigid Packaging
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Asia Pacific
Disaggregation of Revenue [Line Items]
Net sales	447	398	868	776
Asia Pacific | Flexibles
Disaggregation of Revenue [Line Items]
Net sales	447	398	868	776
Asia Pacific | Rigid Packaging
Disaggregation of Revenue [Line Items]
Net sales	$ 0	$ 0	$ 0	$ 0

Earnings Per Share Computatio_3

Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to Amcor plc	$ 225	$ 219	$ 427	$ 417
Distributed and undistributed earnings attributable to shares to be repurchased	(1)	(1)	(1)	(1)
Net income available to ordinary shareholders of Amcor plc—basic and diluted	$ 224	$ 218	$ 426	$ 416
Weighted-average ordinary shares outstanding	1,523	1,562	1,528	1,562
Weighted-average ordinary shares to be repurchased by Amcor plc	(3)	(2)	(4)	(2)
Effect of dilutive shares	4	10	4	7
Weighted-average ordinary shares outstanding for EPS—diluted	1,524	1,570	1,528	1,568
Basic earnings per ordinary share	$ 0.148	$ 0.140	$ 0.280	$ 0.267
Diluted earnings per ordinary share	$ 0.148	$ 0.139	$ 0.279	$ 0.265
Excluding forward contracts to purchase own shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted-average ordinary shares outstanding for EPS—basic	1,520	1,560	1,524	1,560

Earnings Per Share Computatio_4

Earnings Per Share Computations - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9	0	5	11

Contingencies and Legal Proce_2

Contingencies and Legal Proceedings (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency Accrual, Provision	$ 11	$ 11
Loss Contingency, Estimate of Possible Loss	18	17
Loss Contingency, Letters of Credit	34
Loss Contingency, Judicial Insurance	1
Loss Contingency, Cash Deposited	10
Accrual for Environmental Loss Contingencies, Component Amount	48
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Component Amount	48
Loss Contingency Accrual, Provision	11	11
Loss Contingency, Estimate of Possible Loss	18	$ 17
Potentially Responsible Party [Member]
Commitments and Contingencies Disclosure [Abstract]
Accrual for Environmental Loss Contingencies, Component Amount	17
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies, Component Amount	$ 17

Disposals (Details)

Disposals (Details) $ in Millions	6 Months Ended
	Dec. 31, 2020USD ($)business
Non-core businesses in India and Argentina | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Flexibles
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses divested | business	2
Loss on sale of disposal group	$ 6
AMVIG
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net gain realized on sale of equity method investment	$ 15

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 01, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Aug. 17, 2021
Subsequent Event [Line Items]
Dividends declared, per share		$ 0.12	$ 0.1175	$ 0.2375	$ 0.2325
Stock Repurchase Program, Remaining Authorized Repurchase Amount						$ 400
Subsequent Event
Subsequent Event [Line Items]
Dividends declared, per share	$ 0.12
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 200