O-I Glass (OI) 10-Q 28 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2020shares
Cover
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2020
Entity File Number	1-9576
Entity Registrant Name	O-I GLASS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-2781933
Entity Address, Address Line One	One Michael Owens Way
Entity Address, City or Town	Perrysburg
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43551
City Area Code	567
Local Phone Number	336-5000
Title of 12(b) Security	Common Stock, $.01 par value
Security Exchange Name	NYSE
Trading Symbol	OI
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	157,165,691
Entity Central Index Key	0000812074
Amendment Flag	false
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3

CONSOLIDATED RESULTS OF OPERATI

CONSOLIDATED RESULTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CONSOLIDATED RESULTS OF OPERATIONS
Net sales	$ 1,616	$ 1,670	$ 4,595	$ 5,063
Revenue, Product and Service [Extensible List]	Net sales	Net sales	Net sales	Net sales
Cost of goods sold	$ (1,339)	$ (1,371)	$ (3,887)	$ (4,131)
Gross profit	277	299	708	932
Selling and administrative expense	(95)	(108)	(308)	(339)
Research, development and engineering expense	(16)	(16)	(45)	(50)
Interest expense, net	(61)	(83)	(212)	(215)
Equity earnings	21	17	49	55
Other income (expense), net (incl. goodwill impairment-2019)	250	(645)	147	(709)
Earnings (loss) from continuing operations before income taxes	376	(536)	339	(326)
Provision for income taxes	(41)	(31)	(50)	(86)
Earnings (loss) from continuing operations	335	(567)	289	(412)
Loss from discontinued operations				(1)
Net earnings (loss)	335	(567)	289	(413)
Net earnings attributable to non-controlling interests	(7)	(8)	(11)	(17)
Net earnings (loss) attributable to the Company	328	(575)	278	(430)
Amounts attributable to the Company:
Earnings (loss) from continuing operations	328	(575)	278	(429)
Loss from discontinued operations				(1)
Net earnings (loss) attributable to the Company	$ 328	$ (575)	$ 278	$ (430)
Basic earnings per share:
Net earnings (loss) from continuing operations attributable to the Company (in dollars per share)	$ 2.09	$ (3.69)	$ 1.77	$ (2.77)
Loss from discontinued operations (in dollars per share)				(0.01)
Net earnings (loss) (in dollars per share)	$ 2.09	$ (3.69)	$ 1.77	$ (2.78)
Weighted average shares outstanding (thousands) (in shares)	157,073	155,536	156,650	155,083
Diluted earnings per share:
Net earnings (loss) from continuing operations attributable to the Company (in dollars per share)	$ 2.06	$ (3.69)	$ 1.76	$ (2.77)
Loss from discontinued operations (in dollars per share)				(0.01)
Net earnings (loss) (in dollars per share)	$ 2.06	$ (3.69)	$ 1.76	$ (2.78)
Weighted average diluted shares outstanding (thousands) (in shares)	159,299	155,536	158,438	155,083

CONSOLIDATED COMPREHENSIVE INCO

CONSOLIDATED COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
CONSOLIDATED COMPREHENSIVE INCOME
Net earnings (loss)	$ 335	$ (567)	$ 289	$ (413)
Other comprehensive income (loss):
Foreign currency translation adjustments	(148)	(118)	(666)	(67)
Pension and other postretirement benefit adjustments, net of tax	42	27	92	49
Change in fair value of derivative instruments, net of tax	(11)	5	(18)	1
Other comprehensive income (loss)	(117)	(86)	(592)	(17)
Total comprehensive income (loss)	218	(653)	(303)	(430)
Comprehensive (income) loss attributable to noncontrolling interests	(7)	14	(1)	13
Comprehensive income (loss) attributable to the Company	$ 211	$ (639)	$ (304)	$ (417)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 606	$ 551	$ 273
Trade receivables, net of allowance of $33 million, $32 million, and $31 million at September 30, 2020, December 31, 2019 and September 30, 2019	724	621	968
Inventories	782	1,045	1,015
Prepaid expenses and other current assets	272	271	278
Total current assets	2,384	2,488	2,534
Property, plant and equipment, net	2,675	3,273	3,104
Goodwill	1,847	1,934	1,893
Intangibles, net	311	371	404
Other assets	1,407	1,544	1,613
Total assets	8,624	9,610	9,548
Current liabilities:
Accounts payable	910	1,276	1,064
Short-term loans and long-term debt due within one year	212	124	376
Current portion of asbestos-related liabilities			125
Other liabilities	575	595	630
Total current liabilities	1,697	1,995	2,195
Long-term debt	5,163	5,435	5,512
Asbestos-related liabilities		486	342
Paddock support agreement liability	471
Other long-term liabilities	1,028	1,130	1,063
Share owners' equity	265	564	436
Total liabilities and share owners' equity	$ 8,624	$ 9,610	$ 9,548

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
CONSOLIDATED BALANCE SHEETS
Trade receivables allowance	$ 33	$ 32	$ 31

CONDENSED CONSOLIDATED CASH FLO

CONDENSED CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net earnings (loss)	$ 289	$ (413)
Loss from discontinued operations		1
Non-cash charges
Depreciation and amortization	363	380
Pension expense	30	24
Restructuring, asset impairment and related charges	72	56
Pension settlement charges	8	13
Goodwill impairment charge		595
Gain on sale of ANZ business	(280)
Cash payments
Pension contributions	(32)	(29)
Asbestos-related payments		(135)
Cash paid for restructuring activities	(32)	(41)
Change in components of working capital	(402)	(661)
Other, net (a)	112	(36)
Cash provided by (utilized in) continuing operating activities	128	(246)
Cash utilized in discontinued operating activities		(1)
Total cash provided by (utilized in) operating activities	128	(247)
Cash flows from investing activities:
Cash payments for property, plant and equipment	(246)	(333)
Acquisitions, net of cash acquired		(157)
Contributions and advances to joint ventures		(22)
Cash proceeds on disposal of assets	2	2
Cash proceeds on sale of ANZ businesses, net of transaction costs	441
Deconsolidation of Paddock	(47)
Other	1	5
Cash provided by (utilized in) investing activities	151	(505)
Cash flows from financing activities:
Changes in borrowings, net	(300)	593
Payment of finance fees	(50)	(31)
Treasury shares repurchased		(38)
Dividends paid	(8)	(24)
Net cash proceeds (payments) for hedging activity	(8)	28
Sale leaseback proceeds in conjunction with ANZ sale	155
Distributions to noncontrolling interests	(5)	(7)
Other, net	(3)	(3)
Cash provided by (utilized in) financing activities	(219)	518
Effect of exchange rate fluctuations on cash	(5)	(5)
Increase (Decrease) in cash	55	(239)
Cash at beginning of period	551	512
Cash at end of period	$ 606	$ 273

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2020
Segment Information
Segment Information	1. Segment Information Historically, the Company had three reportable segments and three operating segments based on its geographic locations: the Americas, Europe and Asia Pacific. These three segments are aligned with the Company’s internal approach to managing, reporting, and evaluating performance of its global glass operations. On July 31, 2020, the Company completed the sale of its Australia and New Zealand (“ANZ”) businesses, which comprised the majority of its businesses in the Asia Pacific region (approximately 85% of net sales in that region for the full year 2019), to Visy Industries Holdings Pty Ltd. (“Visy”). After the sale of the ANZ businesses, the remaining businesses in the Asia Pacific region do not meet the criteria of an individually reportable segment. For the three and nine month periods ended September 30, 2020, the results for the Asia Pacific reportable segment reflect only one month and seven months, respectively, of the results of the ANZ businesses. For the three and nine months ended September 30, 2019, the results of the Asia Pacific segment have been recast to reflect only the results of its ANZ businesses. For all historical periods discussed in this report, the sales and operating results of the other businesses that historically comprised the Asia Pacific segment, and that have been retained by the Company, have been reclassified to Other sales and Retained corporate costs and other, respectively. For asset reporting purposes, only the assets related to the ANZ businesses have been reported in the Asia Pacific segment, while the other businesses that historically comprised this segment have been reclassified to the Other assets line for all periods presented. Certain assets and activities not directly related to one of the regions or to glass manufacturing are reported with Retained corporate costs and other. These include licensing, equipment manufacturing, global engineering, certain equity investments and the remaining businesses in the Asia Pacific region that do not meet the criteria of an individually reportable segment after the sale of the ANZ businesses. Retained corporate costs and other also includes certain headquarters administrative and facilities costs and certain incentive compensation and other benefit plan costs that are global in nature and are not allocable to the reportable segments. The Company’s measure of profit for its reportable segments is segment operating profit, which consists of consolidated earnings (loss) from continuing operations before interest income, interest expense, and benefit (provision) for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations, as well as certain retained corporate costs. The Company’s management uses segment operating profit, in combination with net sales and selected cash flow information, to evaluate performance and to allocate resources. Segment operating profit for reportable segments includes an allocation of some corporate expenses based on both a percentage of sales and direct billings based on the costs of specific services provided. Segment operating profit is not a recognized term under U.S. GAAP and, therefore, does not purport to be an alternative to earnings (loss) before income taxes. Further, the Company's measure of segment operating profit may not be comparable to similarly titled measures of other companies. ​ Financial information for the three and nine months ended September 30, 2020 and 2019 regarding the Company’s reportable segments is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ 2020 2019 2020 2019 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 887 ​ $ 918 ​ $ 2,442 ​ $ 2,733 ​ Europe ​ 644 ​ 588 ​ 1,775 ​ ​ 1,834 ​ Asia Pacific ​ 52 ​ 128 ​ 281 ​ ​ 382 ​ Reportable segment totals ​ 1,583 ​ 1,634 ​ 4,498 ​ 4,949 ​ Other ​ 33 ​ ​ 36 ​ ​ 97 ​ ​ 114 ​ Net sales ​ $ 1,616 ​ $ 1,670 ​ $ 4,595 ​ $ 5,063 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2020 2019 2020 2019 Segment operating profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 113 ​ $ 123 ​ $ 268 ​ $ 380 ​ Europe ​ 88 ​ 79 ​ 191 ​ 248 ​ Asia Pacific ​ 3 ​ 4 ​ 19 ​ 25 ​ Reportable segment totals ​ 204 ​ 206 ​ 478 ​ 653 ​ Items excluded from segment operating profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained corporate costs and other ​ ​ (35) ​ ​ (21) ​ ​ (98) ​ ​ (83) ​ Gain on sale of ANZ businesses ​ ​ 280 ​ ​ ​ ​ ​ 280 ​ ​ ​ ​ Charge for goodwill impairment ​ ​ ​ ​ ​ (595) ​ ​ ​ ​ ​ (595) ​ Restructuring, asset impairment and other charges ​ (9) ​ ​ (32) ​ ​ (80) ​ ​ (73) ​ Charge for deconsolidation of Paddock ​ ​ ​ ​ ​ ​ ​ (14) ​ ​ ​ ​ Pension settlement charges ​ ​ ​ ​ (11) ​ ​ (8) ​ ​ (13) ​ Strategic transaction costs ​ ​ (3) ​ ​ ​ ​ ​ (7) ​ ​ ​ ​ Interest expense, net ​ (61) ​ ​ (83) ​ ​ (212) ​ ​ (215) ​ Earnings (loss) from continuing operations before income taxes ​ $ 376 ​ $ (536) ​ $ 339 ​ $ (326) ​ ​ ​ Financial information regarding the Company’s total assets is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ 2020 ​ 2019 ​ 2019 ​ Total assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas $ 4,663 $ 5,264 $ 5,241 ​ Europe ​ 3,307 ​ 3,127 ​ 3,053 ​ Asia Pacific ​ ​ ​ 694 ​ 695 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable segment totals ​ 7,970 ​ 9,085 ​ 8,989 ​ Other ​ 654 ​ ​ 525 ​ ​ 559 ​ Consolidated totals $ 8,624 $ 9,610 $ 9,548 ​ ​

Revenue

Revenue	9 Months Ended
	Sep. 30, 2020
Revenue
Revenue	​ ​ 2. Revenue Revenue is recognized at the point in time when obligations under the terms of the Company’s contracts and related purchase orders with its customers are satisfied. This occurs with the transfer of control of glass containers, which primarily takes place when products are shipped from the Company’s manufacturing or warehousing facilities to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods, which includes estimated provisions for rebates, discounts, returns and allowances. Sales, value added, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company’s payment terms are based on customary business practices and can vary by customer type. The term between invoicing and when payment is due is not significant. Also, the Company elected to account for shipping and handling costs as a fulfillment cost at the time of shipment. For the three- and nine-month periods ended September 30, 2020 and September 30, 2019, the Company had no material bad debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheet. Consistent with the disclosures in Note 1 related to the ANZ sale, Asia Pacific revenue for the three and nine months ended September 30, 2020 reflects only one month and seven months, respectively, of revenue from the ANZ businesses. For the three and nine months ended September 30, 2019, revenue of the Asia Pacific segment has been recast to reflect only the revenue of the ANZ businesses. The other businesses that comprised the Asia Pacific segment and that have been retained by the Company have been reclassified to the Other sales line. The following tables for the three months ended September 30, 2020 and 2019 disaggregate the Company’s revenue by customer end use: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2020 ​ Americas ​ Europe ​ Asia Pacific ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 537 $ 452 $ 40 ​ $ 1,029 Food and other ​ 222 ​ 138 ​ 6 ​ 366 Non-alcoholic beverages ​ 128 ​ 54 ​ 6 ​ 188 Reportable segment totals ​ $ 887 ​ $ 644 ​ $ 52 ​ $ 1,583 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 33 Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,616 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2019 ​ Americas ​ Europe ​ Asia Pacific ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 591 ​ $ 409 ​ $ 99 ​ $ 1,099 Food and other ​ 192 ​ ​ 119 ​ ​ 16 ​ 327 Non-alcoholic beverages ​ 135 ​ ​ 60 ​ ​ 13 ​ 208 Reportable segment totals ​ $ 918 ​ $ 588 ​ $ 128 ​ $ 1,634 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 36 Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,670 ​ ​ The following tables for the nine months ended September 30, 2020 and 2019 disaggregate the Company’s revenue by customer end use: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2020 ​ Americas ​ Europe ​ Asia Pacific ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 1,471 $ 1,258 $ 217 ​ $ 2,946 Food and other ​ 609 ​ 360 ​ 38 ​ 1,007 Non-alcoholic beverages ​ 362 ​ 157 ​ 26 ​ 545 Reportable segment totals ​ $ 2,442 ​ $ 1,775 ​ $ 281 ​ $ 4,498 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 97 Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,595 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2019 ​ Americas ​ Europe ​ Asia Pacific ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 1,744 ​ $ 1,315 ​ $ 295 ​ $ 3,354 Food and other ​ 564 ​ ​ 331 ​ ​ 51 ​ 946 Non-alcoholic beverages ​ 425 ​ ​ 188 ​ ​ 36 ​ 649 Reportable segment totals ​ $ 2,733 ​ $ 1,834 ​ $ 382 ​ $ 4,949 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 114 Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 5,063 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Credit Losses

Credit Losses	9 Months Ended
	Sep. 30, 2020
Credit Losses
Credit Losses	​ 3. Credit Losses The Company is exposed to credit losses primarily through its sales of glass containers to customers. The Company’s trade receivables from customers are due within one year or less. The Company assesses each customer’s ability to pay for the glass containers it sells to them by conducting a credit review. The credit review considers the expected billing exposure and timing for payment and the customer’s established credit rating or the Company’s assessment of the customer’s creditworthiness, based on an analysis of their financial statements when a credit rating is not available. The Company also considers contract terms and conditions, country and political risk, and business strategy in its evaluation. A credit limit is established for each customer based on the outcome of this review. The Company may require collateralized asset support or a prepayment to mitigate credit risk. The Company monitors its ongoing credit exposure through the active review of customer balances against contract terms and due dates, including timely account reconciliation, dispute resolution and payment confirmation. The Company may employ collection agencies and legal counsel to pursue the recovery of defaulted receivables. At September 30, 2020, the Company reported $724 million of accounts receivable, net of allowances of $33 million. Changes in the allowance were not material for the three or nine months ended September 30, 2020. ​

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
Inventories
Inventories	4. Inventories Major classes of inventory at September 30, 2020, December 31, 2019 and September 30, 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ ​ 2020 2019 2019 Finished goods ​ $ 625 ​ $ 872 ​ $ 836 ​ ​ Raw materials ​ 121 ​ 128 ​ 134 ​ ​ Operating supplies ​ 36 ​ 45 ​ 45 ​ ​ ​ ​ $ 782 ​ $ 1,045 ​ $ 1,015 ​ ​ ​

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2020
Goodwill
Goodwill	​ ​ ​ 5. Goodwill The Company had Goodwill of approximately $1.8 billion at September 30, 2020, which includes approximately $0.9 billion related to the Company’s Europe reporting unit (in the Europe segment), approximately $0.5 billion related to the Company’s Latin America reporting unit (in the Americas segment) and approximately $0.4 billion related to the Company’s North America reporting unit (in the Americas segment). The COVID-19 pandemic had a significant adverse impact on the Company’s business during the second quarter of 2020, resulting in a significant decline in revenue and earnings, along with a decline in the Company’s stock price and associated market capitalization. The Company determined that the impact of COVID-19 was a triggering event that required the Company to perform a quantitative interim goodwill impairment test in the second quarter of 2020. When performing its test for goodwill impairment, the Company compares the business enterprise value (“BEV”) of each reporting unit to its carrying value. The outcome of the BEV calculations in the second quarter of 2020 indicated that the BEV of each of the Company’s reporting units exceeded its carrying amount; therefore, no impairment existed. With markets reopening and the Company’s business activity improving, along with an increase in the Company’s stock price and associated market capitalization, the Company determined that there was no triggering event that would require it to perform a quantitative interim goodwill impairment test in the third quarter of 2020. The Company’s annual testing date for impairment is October 1. There can be no assurance that anticipated financial results will be achieved and the goodwill balances remain susceptible to future impairment charges. The goodwill related to the North America reporting unit was determined to have the greatest risk of future impairment charges given the narrow difference (approximately 2 %) between the BEV and carrying value of this reporting unit as of the second quarter of 2020. The BEVs of the Company’s Europe and Latin America reporting units more substantially exceeded their carrying values. If the Company’s projected future cash flows were lower, or if the assumed weighted average cost of capital were higher, the testing performed in the second quarter of 2020 may have indicated an impairment of the goodwill related to one or more of the Company’s reporting units. Any impairment charges that the Company may take in the future could be material to its consolidated results of operations and financial condition. During the third quarter of 2019, the Company determined that indicators of impairment had occurred which required the Company to perform a quantitative interim goodwill impairment test. The triggering events were management’s update to its long-range plan, which indicated lower projected future cash flows for its North American reporting unit (in the Americas segment) and a significant reduction in the Company’s share price. During 2019, the Company’s business in North America experienced declining shipments to its alcoholic beverage customers, primarily in the beer category. As a result of the goodwill impairment test, the Company recorded a non-cash impairment charge of $595 million in the third quarter of 2019, which was equal to the excess of the North American reporting unit's carrying value over its fair value. Goodwill related to the Company’s other reporting units was determined to not be impaired as a result of the interim impairment analysis in the third quarter of 2019. Goodwill for the Asia Pacific segment is $0 and net of accumulated impairment losses of $1,135 million as of December 31, 2019, and September 30, 2019. Goodwill for the Americas segment is net of accumulated impairment losses of $595 million as of September 30, 2020, December 31, 2019, and September 30, 2019. ​

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2020
Derivative Instruments
Derivative Instruments	6. Derivative Instruments The Company has certain derivative assets and liabilities, which consist of natural gas forwards, foreign exchange option and forward contracts, interest rate swaps and cross-currency swaps. The valuation of these instruments is determined primarily using the income approach, including discounted cash flow analysis on the expected cash flows of each derivative. Natural gas forward rates, foreign exchange rates and interest rates are the significant inputs into the valuation models. The Company also evaluates counterparty risk in determining fair values. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. These inputs are observable in active markets over the terms of the instruments the Company holds, and, accordingly, the Company classifies its derivative assets and liabilities as Level 2 in the hierarchy. Commodity Forward Contracts Designated as Cash Flow Hedges The Company enters into commodity forward contracts related to forecasted natural gas requirements, the objectives of which are to limit the effects of fluctuations in the future market price paid for natural gas and the related volatility in cash flows. An unrecognized gain of less than $1 million at September 30, 2020, an unrecognized gain of $1 million at December 31, 2019 and an unrecognized gain of $1 million at September 30, 2019 related to the commodity forward contracts were included in Accumulated other comprehensive income (“Accumulated OCI”), and will be reclassified into earnings in the period when the commodity forward contracts expire. Foreign Exchange Derivative Contracts Not Designated as Hedging Instruments The Company uses short-term forward exchange or option agreements to purchase foreign currencies at set rates in the future. These agreements are used to limit exposure to fluctuations in foreign currency exchange rates for significant planned purchases of fixed assets or commodities that are denominated in currencies other than the subsidiaries’ functional currency. The Company also uses foreign exchange agreements to offset the foreign currency risk for receivables and payables, including intercompany receivables, payables, and loans, not denominated in, or indexed to, their functional currencies. Cash Flow Hedges of Foreign Exchange Risk The Company has variable-interest rate borrowings denominated in currencies other than the functional currency of the borrowing subsidiaries. As a result, the Company is exposed to fluctuations in the currency of the borrowing against the subsidiaries’ functional currency. The Company uses derivatives to manage these exposures and designates these derivatives as cash flow hedges of foreign exchange risk. An unrecognized gain of $9 million at September 30, 2020, an unrecognized loss of less than $1 million at December 31, 2019 and an unrecognized loss of $19 million at September 30, 2019, related to these cross-currency swaps, were included in Accumulated OCI, and will be reclassified into earnings within the next 12 months. During the second and third quarters of 2020, the Company terminated a portion of its cross-currency swaps, which resulted in a net $3 million cash outflow recognized in the Cash flows from financing activities section of the Consolidated Cash Flows. ​ Interest Rate Swaps Designated as Fair Value Hedges The Company enters into interest rate swaps in order to maintain a capital structure containing targeted amounts of fixed and floating-rate debt and manage interest rate risk. The Company’s fixed-to-variable interest rate swaps are accounted for as fair value hedges. The relevant terms of the swap agreements match the corresponding terms of the notes, and therefore there is no hedge ineffectiveness. The Company recorded the net of the fair market values of the swaps as a long-term liability and short-term asset, along with a corresponding net decrease in the carrying value of the hedged debt. Cash Flow Hedges of Interest Rate Risk The Company enters into interest rate swaps in order to maintain a capital structure containing targeted amounts of fixed and floating-rate debt and manage interest rate risk. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments. These interest rate swap agreements were used to hedge the variable cash flows associated with variable-rate debt. An unrecognized loss of less than $1 million at September 30, 2020, an unrecognized loss of $1 million at December 31, 2019 and an unrecognized loss of $2 million at September 30, 2019 related to these interest rate swaps, were included in Accumulated OCI, and will be reclassified into earnings within the next 12 months. Net Investment Hedges The Company is exposed to fluctuations in foreign exchange rates on investments it holds in non-U.S. subsidiaries and uses cross-currency swaps to partially hedge this exposure. During the third quarter of 2020, the Company terminated a portion of its cross-currency swaps designated as net investment hedges, which resulted in a $5 million cash outflow recognized in the Cash flows from financing activities section of the Consolidated Cash Flows. Balance Sheet Classification The following table shows the amount and classification (as noted above) of the Company’s derivatives at September 30, 2020, December 31, 2019 and September 30, 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value of ​ Fair Value of ​ ​ Hedge Assets ​ Hedge Liabilities ​ ​ September 30, ​ December 31, ​ September 30, ​ September 30, ​ December 31, ​ September 30, ​ 2020 2019 2019 2020 2019 2019 Derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts (a) ​ $ — ​ $ 1 ​ $ 1 ​ $ — ​ $ — ​ $ — Interest rate swaps - fair value hedges (b) ​ ​ 16 ​ ​ 8 ​ ​ 17 ​ ​ ​ ​ ​ 2 ​ ​ ​ Cash flow hedges of foreign exchange risk (c) ​ ​ 9 ​ ​ 25 ​ ​ 36 ​ ​ 67 ​ ​ 21 ​ ​ ​ Interest rate swaps - cash flow hedges (d) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ 1 Net investment hedges (e) ​ ​ 2 ​ ​ 2 ​ ​ 7 ​ ​ 27 ​ ​ ​ ​ ​ ​ Total derivatives accounted for as hedges ​ $ 27 ​ $ 36 ​ $ 61 ​ $ 94 ​ $ 24 ​ $ 1 Derivatives not designated as hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange derivative contracts (f) ​ ​ 3 ​ ​ 2 ​ ​ 2 ​ ​ 6 ​ ​ ​ ​ ​ 3 Total derivatives ​ $ 30 ​ $ 38 ​ $ 63 ​ $ 100 ​ $ 24 ​ $ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 16 ​ $ 8 ​ $ 34 ​ $ 13 ​ $ — ​ $ 3 Noncurrent ​ ​ 14 ​ ​ 30 ​ ​ 29 ​ ​ 87 ​ ​ 24 ​ ​ 1 Total derivatives ​ $ 30 ​ $ 38 ​ $ 63 ​ $ 100 ​ $ 24 ​ $ 4 (a) The notional amounts of the commodity forward contracts, related to customer requests to lock the price of natural gas, were approximately 1.5 million BTUs, 2.1 million BTUs and 2.1 million BTUs at September 30, 2020, December 31, 2019 and September 30, 2019, respectively. The maximum maturity dates were in 2020 for all three periods. (b) The notional amounts of the interest rate swaps designated as fair value hedges were €725 million at September 30, 2020, December 31, 2019 and September 30, 2019. The maximum maturity dates were in 2025 for September 30, 2020 and December 31, 2019 and in 2024 for September 30, 2019. (c) The notional amounts of the cash flow hedges of foreign exchange risk were $1.1 billion at September 30, 2020 and December 31, 2019 and $1.2 billion at September 30, 2019. The maximum maturity dates were in 2023 for all three periods. (d) The notional amounts of the interest rate swaps designated as cash flow hedges were $0 at September 30, 2020, $105 million at December 31, 2019 and $180 million at September 30, 2019. Maximum maturity dates were in 2020 for September 30, 2020 and December 31, 2019 and in 2021 for September 30, 2019. (e) The notional amounts of the net investment hedges were €311 million at September 30, 2020 and €160 million at December 31, 2019 and September 30, 2019. The maximum maturity dates were in 2020 for all three periods. (f) The notional amounts of the foreign exchange derivative contracts were $247 million, $283 million and $169 million at September 30, 2020, December 31, 2019 and September 30, 2019, respectively. The maximum maturity dates were in 2021 for September 30, 2020 and in 2019 for December 31, 2019 and September 30, 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) Recognized in OCI (Effective Portion) ​ ​ Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1) ​ ​ ​ Three months ended September 30, ​ ​ Three months ended September 30, ​ Derivatives designated as hedging instruments: 2020 ​ 2019 ​ ​ 2020 ​ 2019 ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts (a) ​ $ 1 ​ $ (1) ​ ​ $ 1 ​ $ — ​ Cash flow hedges of foreign exchange risk (b) ​ ​ (61) ​ ​ (52) ​ ​ ​ (80) ​ ​ (54) ​ Cash flow hedges of interest rate risk (c) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Investment Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Investment Hedges (c) ​ ​ (26) ​ ​ 8 ​ ​ ​ 1 ​ ​ 2 ​ ​ ​ $ (86) ​ $ (45) ​ ​ $ (78) ​ $ (52) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) Recognized in OCI (Effective Portion) ​ ​ Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1) ​ ​ ​ Nine months ended September 30, ​ ​ Nine months ended September 30, ​ Derivatives designated as hedging instruments: 2020 ​ 2019 ​ ​ 2020 ​ 2019 ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts (a) ​ $ (1) ​ $ — ​ ​ $ 1 ​ $ (1) ​ Cash flow hedges of foreign exchange risk (b) ​ ​ (51) ​ ​ (50) ​ ​ ​ (71) ​ ​ (42) ​ Cash flow hedges of interest rate risk (c) ​ ​ ​ ​ ​ (1) ​ ​ ​ (1) ​ ​ ​ ​ Net Investment Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Investment Hedges (c) ​ ​ (29) ​ ​ 13 ​ ​ ​ 4 ​ ​ 5 ​ ​ ​ $ (81) ​ $ (38) ​ ​ $ (67) ​ $ (38) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) Recognized in Other income (expense), net ​ ​ Amount of Gain (Loss) Recognized in Other income (expense), net ​ ​ ​ Three months ended September 30, ​ ​ Nine months ended September 30, ​ Derivatives not designated as hedges: 2020 ​ 2019 ​ ​ 2020 ​ 2019 ​ Foreign exchange derivative contracts $ 3 $ 1 ​ $ 13 $ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Gains and losses reclassified from accumulated OCI and recognized in income are recorded to (a) cost of goods sold, (b) other expense, net or (c) interest expense, net. ​

Restructuring Accruals

Restructuring Accruals	9 Months Ended
	Sep. 30, 2020
Restructuring Accruals
Restructuring Accruals	7 . Restructuring Accruals Selected information related to the restructuring accruals for the three months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at July 1, 2020 ​ $ 30 ​ $ — ​ $ 17 ​ $ 47 Charges ​ ​ 2 ​ ​ 3 ​ ​ ​ ​ ​ 5 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ (3) Net cash paid, principally severance and related benefits ​ (10) ​ ​ ​ ​ ​ ​ ​ (10) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ (4) ​ (4) Balance at September 30, 2020 ​ $ 22 ​ $ — ​ $ 13 ​ $ 35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at July 1, 2019 ​ $ 50 ​ $ — ​ $ 20 ​ $ 70 Charges ​ ​ 5 ​ ​ 17 ​ ​ 2 ​ ​ 24 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (17) ​ ​ ​ ​ ​ (17) Net cash paid, principally severance and related benefits ​ (6) ​ ​ ​ ​ ​ (6) ​ (12) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ (1) ​ (1) Balance at September 30, 2019 ​ $ 49 ​ $ — ​ $ 15 ​ $ 64 ​ Selected information related to the restructuring accruals for the nine months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at January 1, 2020 ​ $ 32 ​ $ — ​ $ 13 ​ $ 45 Charges ​ ​ 23 ​ ​ 43 ​ ​ 6 ​ ​ 72 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ (31) ​ ​ ​ ​ ​ (1) ​ (32) Other, including foreign exchange translation ​ (2) ​ ​ ​ ​ ​ (5) ​ (7) Balance at September 30, 2020 ​ $ 22 ​ $ — ​ $ 13 ​ $ 35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at January 1, 2019 ​ $ 47 ​ $ — ​ $ 22 ​ $ 69 Charges ​ ​ 32 ​ ​ 17 ​ ​ 7 ​ ​ 56 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (17) ​ ​ ​ ​ ​ (17) Net cash paid, principally severance and related benefits ​ (30) ​ ​ ​ ​ ​ (11) ​ ​ (41) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ (3) Balance at September 30, 2019 ​ $ 49 ​ $ — ​ $ 15 ​ $ 64 ​ When a decision is made to take restructuring actions, the Company manages and accounts for them programmatically apart from the on-going operations of the business. Information related to major programs is presented separately, while minor initiatives are presented on a combined basis. As of September 30, 2020 and 2019, no major restructuring programs were in effect. For the three and nine months ended September 30, 2020, the Company implemented several discrete restructuring initiatives and recorded restructuring, asset impairment and other charges of $5 million and $72 million, respectively. These charges consisted of employee costs, such as severance and benefit-related costs, write-down of assets and other exit costs, primarily related to a plant closure in the Americas and to a reduction-in-force program as part of its selling, general and administrative expense reduction initiative to help simplify the organization and improve decision making and execution. These restructuring charges were discrete actions and are expected to approximate the total cumulative costs for those actions as no significant additional costs are expected to be incurred. For the three and nine months ended September 30, 2020, these charges were recorded to Other expense, net on the Condensed Consolidated Results of Operations. The Company expects that the majority of the remaining cash expenditures related to the accrued employee and other exit costs will be paid out over the next several years. For the three and nine months ended September 30, 2019, the Company implemented several discrete restructuring initiatives and recorded restructuring and other charges of $24 million and $56 million, respectively. These charges consisted of employee costs such as severance and benefit-related costs and other exit costs primarily related to a severance program for certain salaried employees at the Company’s corporate and Americas headquarters and a furnace closure in the Americas. For the three months ended September 30, 2019, these charges were recorded to Other expense, net on the Condensed Consolidated Results of Operations. For the nine months ended September 30, 2019, these charges were recorded to Selling and administrative expense ( The Company’s decisions to curtail selected production capacity have resulted in write-downs of certain long-lived assets to the extent their carrying value exceeded fair value or fair value less cost to sell. The Company classified the assumptions used to determine the fair value of the impaired assets in the period that the measurement was taken as Level 3 (third-party appraisal) in the fair value hierarchy as set forth in the general accounting principles for fair value measurements. For the asset impairments recorded through September 30, 2020, the remaining carrying value of the impaired assets was approximately $1 million.

Pension Benefit Plans

Pension Benefit Plans	9 Months Ended
	Sep. 30, 2020
Pension Benefit Plans
Pension Benefit Plans	8. Pension Benefit Plans The components of the net periodic pension cost for the three months ended September 30, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ Non-U.S. ​ 2020 2019 2020 2019 Service cost ​ $ 3 ​ $ 3 ​ $ 3 ​ $ 3 ​ Interest cost ​ 12 ​ 15 ​ 6 ​ 7 ​ Expected asset return ​ ​ (19) ​ ​ (22) ​ ​ (12) ​ ​ (11) ​ Amortization of actuarial loss ​ ​ 14 ​ ​ 10 ​ ​ 3 ​ ​ 3 ​ Net periodic pension cost ​ $ 10 ​ $ 6 ​ $ — ​ $ 2 ​ ​ The components of the net periodic pension cost for the nine months ended September 30, 2020 and 2019 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ Non-U.S. ​ 2020 2019 2020 2019 Service cost ​ $ 9 ​ $ 9 ​ $ 10 ​ $ 9 ​ Interest cost ​ 37 ​ 45 ​ 19 ​ 22 ​ Expected asset return ​ ​ (60) ​ ​ (65) ​ ​ (36) ​ ​ (33) ​ Amortization of actuarial loss ​ ​ 42 ​ ​ 30 ​ ​ 9 ​ ​ 7 ​ Net periodic pension cost ​ $ 28 ​ $ 19 ​ $ 2 ​ $ 5 ​ ​ ​ ​ In addition to the above, the Company settled a portion of its pension obligations in Canada and recorded pension se ​ During the third quarter of 2020, the Company remeasured a portion of its post-retirement benefit obligation in the U.S. due to plan changes, which resulted in a reduction in post-retirement benefit obligation of approximately ​

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Taxes
Income Taxes	9. Income Taxes The Company calculates its interim tax provision using the estimated annual effective tax rate (“EAETR”) methodology in accordance with ASC 740-270. The EAETR is applied to the year-to-date ordinary income, exclusive of discrete items. The tax effects of discrete items are then included to arrive at the total reported interim tax provision. The determination of the EAETR is based upon a number of estimates, including the estimated annual pretax ordinary income or loss in each tax jurisdiction in which the Company operates. The tax effects of discrete items are recognized in the tax provision in the quarter they occur, in accordance with GAAP. Depending on various factors, such as the item’s significance in relation to total income and the rate of tax applicable in the jurisdiction to which it relates, discrete items in any quarter can materially impact the reported effective tax rate. The Company’s annual effective tax rate may be affected by the mix of earnings in the U.S. and foreign jurisdictions, and such factors as changes in tax laws, tax rates or regulations, changes in business, changing interpretation of existing tax laws or regulations, the finalization of tax audits and reviews, as well as other factors. As such, there can be significant volatility in interim tax provisions. The annual effective tax rate differs from the statutory U.S. Federal tax rate of 21% primarily because of varying non-U.S. tax rates. ​ The Company is currently under examination in various tax jurisdictions in which it operates, including Bolivia, Brazil, Canada, Colombia, France, Germany, Hungary, Indonesia, Mexico and Peru. The years under examination range from 2004 through 2018. The Company has received tax assessments in excess of established reserves. The Company is contesting these tax assessments, and will continue to do so, including pursuing all available remedies, such as appeals and litigation, if necessary. The Company believes that adequate provisions for all income tax uncertainties have been made. However, if tax assessments are settled against the Company at amounts in excess of established reserves, it could have a material impact on the Company’s results of operations, financial position or cash flows. ​ On March 27, 2020, the President of the United States signed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act into law. The CARES Act is an emergency economic stimulus package in response to the COVID-19 pandemic that provides numerous tax provisions and other stimulus measures. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. Some international jurisdictions in which the Company operates have also enacted legislation to provide economic stimulus in response to the COVID-19 pandemic. The Company anticipates it will benefit from the ability to defer U.S. social security payroll tax that would otherwise be required in 2020, the acceleration of alternative minimum tax credit refunds, and potentially other provisions within the CARES Act. In addition, the Company may benefit from the deferral of certain non-U.S. tax payments to a future period. The Company expects the CARES Act and international legislation will not have a material impact on the Company’s consolidated financial statements. The Company will continue to monitor and assess the impact the CARES Act, and similar legislation in other countries, may have on the consolidated financial results. ​

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt
Debt	10. Debt The following table summarizes the long-term debt of the Company: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ 2020 2019 2019 ​ Secured Credit Agreement: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Credit Facility: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Loans ​ $ 195 ​ $ — ​ $ 265 ​ Term Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loan A ​ ​ 1,157 ​ ​ 1,477 ​ ​ 1,496 ​ Other secured debt ​ ​ 109 ​ ​ 333 ​ ​ 454 ​ Senior Notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.75%, due 2020 (€500 million) ​ ​ ​ ​ ​ ​ ​ 273 ​ 4.875%, due 2021 (€0 million at September 30, 2020, €118 million December 31, 2019 and €330 million at September 30, 2019) ​ ​ ​ ​ 132 ​ ​ 360 ​ 5.00%, due 2022 ​ ​ ​ ​ ​ 497 ​ ​ 498 ​ 4.00%, due 2023 ​ ​ 307 ​ ​ 307 ​ ​ 307 ​ 5.875%, due 2023 ​ ​ 691 ​ ​ 689 ​ ​ 690 ​ 3.125%, due 2024 (€725 million) ​ ​ 873 ​ ​ 824 ​ ​ 818 ​ 6.375%, due 2025 ​ ​ 296 ​ ​ 295 ​ ​ 296 ​ 5.375%, due 2025 ​ ​ 298 ​ ​ 297 ​ ​ 298 ​ 2.875%, due 2025 (€500 million) ​ ​ 579 ​ ​ 552 ​ ​ ​ ​ 6.625%, due 2027 ​ ​ 691 ​ ​ ​ ​ ​ ​ ​ Finance leases ​ ​ 94 ​ ​ 70 ​ ​ 43 ​ Other ​ 6 ​ ​ 11 ​ ​ 16 ​ Total long-term debt ​ 5,296 ​ 5,484 ​ ​ 5,814 ​ Less amounts due within one year ​ 133 ​ ​ 49 ​ ​ 302 ​ Long-term debt ​ $ 5,163 ​ $ 5,435 ​ $ 5,512 ​ ​ The Company presents debt issuance costs in the balance sheet as a deduction of the carrying amount of the related debt liability. On June 25, 2019, certain of the Company’s subsidiaries entered into a Senior Secured Credit Facility Agreement (as amended by that certain Amendment No. 1 to the Third Amended and Restated Credit Agreement and Syndicated Facility Agreement dated as of December 13, 2019, and as further amended by that certain Amendment No. 2 to the Third Amended and Restated Credit Agreement and Syndicated Facility Agreement dated as of December 19, 2019, the “Agreement”), which amended and restated the previous credit agreement (the “Previous Agreement”). The proceeds from the Agreement were used to repay all outstanding amounts under the Previous Agreement. The Agreement provides for up to $3.0 billion of borrowings pursuant to term loans and revolving credit facilities. The term loans mature, and the revolving credit facilities terminate in June 2024. At September 30, 2020, the Agreement includes a million net of debt issuance costs). At September 30, 2020, the Company had unused credit of The Agreement contains various covenants that restrict, among other things and subject to certain exceptions, the ability of the Company to incur certain indebtedness and liens, make certain investments, become liable under contingent obligations in certain defined instances only, make restricted payments, make certain asset sales within guidelines and limits, engage in certain affiliate transactions, participate in sale and leaseback financing arrangements, alter its fundamental business, and amend certain subordinated debt obligations. The Agreement also contains one financial maintenance covenant, a Total Leverage Ratio (the “Leverage Ratio”), that requires the Company not to exceed a ratio of 5.0x calculated by dividing consolidated total debt, less cash and cash equivalents, by Consolidated EBITDA, with such Leverage Ratio decreasing to (a) 4.75x for the quarter ending June 30, 2021 and (b) 4.50 x for the quarter ending December 31, 2021 and thereafter, as defined and described in the Agreement. The maximum Leverage Ratio is subject to an increase of Failure to comply with these covenants and other customary restrictions could result in an event of default under the Agreement. In such an event, the Company could not request borrowings under the revolving facilities, and all amounts outstanding under the Agreement, together with accrued interest, could then be declared immediately due and payable. Upon the occurrence and for the duration of a payment event of default, an additional default interest rate equal to 2.0 % per annum will apply to all overdue obligations under the Agreement. If an event of default occurs under the Agreement and the lenders cause all of the outstanding debt obligations under the Agreement to become due and payable, this would result in a default under the indentures governing the Company’s outstanding debt securities and could lead to an acceleration of obligations related to these debt securities. As of September 30, 2020, the Company was in compliance with all covenants and restrictions in the Agreement. In addition, the Company believes that it will remain in compliance and that its ability to borrow funds under the Agreement will not be adversely affected by the covenants and restrictions. The Leverage Ratio also determines pricing under the Agreement. The interest rate on borrowings under the Agreement is, at the Company’s option, the Base Rate or the Eurocurrency Rate, as defined in the Agreement, plus an applicable margin. The applicable margin is linked to the Leverage Ratio. The margins range from for Base Rate Loans. In addition, a commitment fee is payable on the unused revolving credit facility commitments ranging from Obligations under the Agreement are secured by substantially all of the assets, excluding real estate and certain other excluded assets, of certain of the Company’s domestic subsidiaries and certain foreign subsidiaries. Such obligations are also secured by a pledge of intercompany debt and equity investments in certain of the Company’s domestic subsidiaries and, in the case of foreign obligations, of stock of certain foreign subsidiaries. All obligations under the Agreement are guaranteed by certain domestic subsidiaries of the Company, and certain foreign obligations under the Agreement are guaranteed by certain foreign subsidiaries of the Company. In July 2019, the Company redeemed €250 million aggregate principal amount of its outstanding 6.75 % senior notes due 2020. The redemption was funded with cash on hand and revolver borrowings. The Company recorded $24 million of additional interest charges for note repurchase premiums and the write-off of unamortized finance fees related to this redemption. In November 2019, the Company issued €500 million aggregate principal amount of senior notes. The senior notes bear interest at a rate of 2.875 % per annum and mature on February 15, 2025. The senior notes were issued via a private placement and are guaranteed by certain of the Company’s domestic subsidiaries. The net proceeds, after deducting debt issuance costs, totaled approximately €492 million and were used to redeem the remaining €250 million aggregate principal amount of the Company’s outstanding 6.75% senior notes due 2020 and €212 million aggregate principal amount of the Company’s outstanding 4.875% senior notes due 2021. In December 2019, subsidiaries of the Company completed consent solicitations to amend and waive certain provisions of the indentures governing certain of their senior notes. On December 11, 2019, those subsidiaries entered into supplemental indentures reflecting the amendments and waivers, which were obtained to facilitate the implementation of the Corporate Modernization. In May 2020, the Company issued $700 million aggregate principal amount of new senior notes. The new senior notes bear interest at a rate of 6.625 % per annum and mature on May 13, 2027. The new senior notes were issued via a private placement and are guaranteed by certain of the Company’s domestic subsidiaries. The net proceeds, after deducting debt issuance costs, totaled approximately $690 million and were used to redeem the remaining $130 million aggregate principal amount of the Company’s outstanding 4.875% senior notes due 2021, approximately $419 million aggregate principal amount of the Company’s outstanding 5.00% senior notes due 2022 and approximately $105 million of other secured borrowings. The Company recorded approximately $38 million of additional interest charges for note repurchase premiums and write-off of unamortized finance fees related to these redemptions. In August 2020, the Company redeemed the remaining $81 million aggregate principal amount of the Company’s outstanding 5.00% senior notes due 2022. The Company recorded approximately $6 million of additional interest charges for note repurchase premiums and write-off of unamortized finance fees related to this redemption. In order to maintain a capital structure containing appropriate amounts of fixed and floating-rate debt, the Company has entered into a series of interest rate swap agreements. These interest rate swap agreements were accounted for as either fair value hedges or cash flow hedges (see Note 6 for more information). The Company assesses its capital raising and refinancing needs on an ongoing basis and may enter into additional credit facilities and seek to issue equity and/or debt securities in the domestic and international capital markets if market conditions are favorable. Also, depending on market conditions, the Company may elect to repurchase portions of its debt securities in the open market. The carrying amounts reported for certain long-term debt obligations subject to frequently redetermined interest rates approximate fair value. Fair values for the Company’s significant fixed rate debt obligations are based on published market quotations, and are classified as Level 1 in the fair value hierarchy. Fair values at September 30, 2020 of the Company’s significant fixed rate debt obligations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal ​ Indicated Market ​ ​ ​ Amount Price Per $ Fair Value Senior Notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4.00%, due 2023 ​ $ 310 ​ $ 101.71 ​ $ 315 ​ 5.875%, due 2023 ​ 700 ​ ​ 105.64 ​ ​ 739 ​ 3.125%, due 2024 (€725 million) ​ ​ 851 ​ ​ 101.22 ​ ​ 861 ​ 6.375%, due 2025 ​ ​ 300 ​ ​ 109.17 ​ ​ 328 ​ 5.375%, due 2025 ​ ​ 300 ​ ​ 106.35 ​ ​ 319 ​ 2.875%, due 2025 (€500 million) ​ ​ 587 ​ ​ 99.19 ​ ​ 582 ​ 6.625%, due 2027 ​ ​ 700 ​ ​ 108.48 ​ ​ 759 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2020
Contingencies
Contingencies	11 . Contingencies Asbestos From 1948 to 1958, one of the Company's former business units commercially produced and sold approximately $40 million of a high-temperature, calcium-silicate based pipe and block insulation material containing asbestos. The Company sold its insulation business unit in April 1958. The Company historically received claims from individuals alleging bodily injury and death as a result of exposure to asbestos from this product (“Asbestos Claims”). Some Asbestos Claims were brought as personal injury lawsuits that typically allege various theories of liability, including negligence, gross negligence and strict liability and seek compensatory and, in some cases, punitive damages. Predominantly, however, Asbestos Claims were historically presented to the Company under administrative claims-handling agreements, which the Company had in place with many plaintiffs’ counsel throughout the country (“Administrative Claims”). Administrative Claims required evaluation and negotiation regarding whether particular claimants qualify under the criteria established by the related claims-handling agreements. The criteria for Administrative Claims included verification of a compensable illness and a reasonable probability of exposure to a product manufactured by the Company's former business unit during its manufacturing period ending in 1958. Plaintiffs’ counsel presented, and the Company negotiated, Administrative Claims under these various agreements in differing quantities, at different times, and under a variety of conditions. On December 26 and 27, 2019, the Company implemented the Corporate Modernization (“Corporate Modernization”), whereby O-I Glass became the new parent entity with Owens-Illinois Group, Inc. (“O-I Group”) and Paddock Enterprises, LLC (“Paddock”) as direct, wholly owned subsidiaries, with Paddock as the successor-by-merger to O-I. The Company’s legacy asbestos-related liabilities remained within Paddock, with the Company’s glass-making operations remaining under O-I Group. On January 6, 2020 (the “Petition Date”), Paddock voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware to equitably and finally resolve all of its current and future asbestos-related claims. O-I Glass and O-I Group were not included in the Chapter 11 filing. As a result of the initiation of the Chapter 11 proceeding, Paddock continues to operate in the ordinary course and with court protection from asbestos claims by operation of the automatic stay in Paddock’s Chapter 11 filing, which stays ongoing litigation and submission of claims against Paddock as of the Petition Date and defers the payment of Paddock’s outstanding obligations on account of settled or otherwise determined lawsuits and claims. The bankruptcy process is expected to provide a centralized forum to resolve presently pending and anticipated future lawsuits and claims associated with asbestos. Paddock’s ultimate goal in its Chapter 11 case is to confirm a plan of reorganization under Section 524(g) of the Bankruptcy Code and utilize this specialized provision to establish a trust that will address all current and future asbestos-related claims. Because the Chapter 11 proceedings are in the early stages, it is not possible to predict the form of the ultimate resolution or when an ultimate resolution might occur. As part of the Corporate Modernization transactions, O-I Glass entered into a support agreement with Paddock that requires O-I Glass to provide funding to Paddock for all permitted uses, subject to the terms of the support agreement. The key objectives of the support agreement are to ensure that Paddock has the ability to fund the costs and expenses of managing the Chapter 11 process, ultimately settle Asbestos Claims through the establishment of a trust as described above and fund certain other liabilities including applicable taxes. The ultimate amount that may be required to fund the trust in connection with a confirmed Chapter 11 plan of reorganization cannot be estimated with certainty. Following the Chapter 11 filing, the activities of Paddock are now subject to review and oversight by the bankruptcy court. As a result, the Company no longer has exclusive control over Paddock’s activities during the Chapter 11 proceedings. Therefore, Paddock was deconsolidated as of the Petition Date, and its assets and liabilities, which primarily included $47 million of cash, the legacy asbestos-related liabilities, as well as certain other assets and liabilities as of the Petition Date, were derecognized from the Company’s consolidated financial statements on a prospective basis. Simultaneously, the Company recognized a liability related to the support agreement, as described above, of $471 million as required under applicable accounting standards, which may be subject to change based on the facts and circumstances of the Chapter 11 proceedings. Taken together, these transactions resulted in a loss of approximately $14 million, which was reflected as a charge in the Company’s first quarter 2020 operating results. Additionally, the deconsolidation resulted in an investing outflow of $47 million in the Company’s first quarter 2020 consolidated cash flows. Several risks and uncertainties related to Paddock’s Chapter 11 case could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows, including the ultimate amounts necessary to fund any trust established pursuant to Section 524(g) of the Bankruptcy Code, the potential for the Company’s asbestos-related exposure to extend beyond Paddock based on corporate veil piercing efforts or other claims by asbestos plaintiffs, the costs of the Chapter 11 proceedings and the length of time necessary to resolve the case, either through settlement or various court proceedings, and the possibility that Paddock will be unsuccessful in attaining the desired relief under Chapter 11. Prior to the Petition Date, the Company knew of approximately 850 asbestos lawsuits pending. This figure does not include an estimate of potential Administrative Claims that could have been presented under a claims-handling agreement due to the uncertainties around presentation timing, quantities, or qualification rates. The Company historically considered Administrative Claims to be filed and disposed of when they are accepted for payment. The lack of uniform rules in lawsuit pleading practice, technical pleading requirement in some jurisdictions, local rules, and other factors caused considerable variation in the specific amounts of monetary damages asserted in lawsuits brought prior to the Petition Date. In the Company’s experience, the monetary relief alleged in a lawsuit bore little relationship to an Asbestos Claim’s merits or its disposition value. Rather, several variables, including but not limited to, the type and severity of the asbestos disease, medical history, and exposure to other disease-causing agents; the product identification evidence against the Company and other co-defendants; the defenses available to the Company and other co-defendants; the specific jurisdiction in which the claim was made; the applicable law; and the law firm representing the claimant, affected the value. The Company was also a defendant in other Asbestos Claims involving maritime workers, medical monitoring, co-defendants’ third-party actions, and property damage allegations. Based upon its experience, the Company assessed that these categories of Asbestos Claims would not involve any material liability. Therefore, they were not included in the description of pending or disposed matters. From receipt of its first Asbestos Claim to the Petition Date, the Company in the aggregate disposed of approximately 401,200 Asbestos Claims at an average indemnity payment of approximately $10,200 per claim. The Company’s asbestos indemnity payments varied on a per-claim basis. Asbestos-related cash payments for 2019 were $151 million and the Company’s cash payments per claim disposed (inclusive of legal costs) were approximately $129,000 for the year ended December 31, 2019. Prior to the Petition Date, the Company’s objective was historically to achieve, where possible, resolution of Asbestos Claims pursuant to claims-handling agreements. Failure of claimants to meet certain medical and product exposure criteria in claims-handling agreements generally reduced the number of claims that would otherwise have been received by the Company in the tort system. In addition, changes in jurisdictional dynamics, legislative acts, asbestos docket management and procedures, the substantive law, the co-defendant pool, and other external factors affected lawsuit volume, claim volume, qualification rates, claim values, and related matters. Collectively, these variables generally had the effect of increasing the Company’s per-claim average indemnity payment over time. Beginning with the initial liability of $975 million established in 1993, the Company accrued a total of approximately $5.0 billion through just prior to the Petition Date, before insurance recoveries, for its asbestos-related liability. The Company’s estimates of its liability were significantly affected by, among other factors, the volatility of asbestos-related litigation in the United States, the significant number of co-defendants that filed for bankruptcy, changes in mortality rates, the inherent uncertainty of future disease incidence and claiming patterns against the Company, the significant expansion of the types of defendants sued in this litigation, and changes in the extent to which such defendants participated in the resolution of cases in which the Company was also a defendant. Prior to the Petition Date, the Company continually monitored trends that could affect its ultimate liability and analyzed the developments and variables likely to affect the resolution of Asbestos Claims. The material components of the Company’s total accrued liability were determined by the Company in connection with its annual comprehensive legal review and consisted of the following estimates, to the extent it was probable that such liabilities had been incurred and could be reasonably estimated: (i) the liability for Asbestos Claims already asserted against the Company; (ii) the liability for Asbestos Claims not yet asserted against the Company; and (iii) the legal defense costs estimated to be incurred in connection with the Asbestos Claims already asserted and those Asbestos Claims the Company believed would be asserted. Through December 31, 2019, the Company historically conducted an annual comprehensive legal review of its asbestos-related liabilities and costs in connection with finalizing and reporting its annual results of operations, unless significant changes in trends or new developments have warranted an earlier review. As part of its annual comprehensive legal review, the Company provided historical Asbestos Claims data to a third party with expertise in determining the impact of disease incidence and mortality on future filing trends to develop information to assist the Company in estimating the total number of future Asbestos Claims likely to be asserted against the Company. The Company used this estimate, along with an estimation of disposition costs and related legal costs, as inputs to develop its best estimate of its total probable liability. If the results of the annual comprehensive legal review indicated that the existing amount of the accrued liability was lower (higher) than its reasonably estimable asbestos-related costs, then the Company recorded an appropriate charge (credit) to the Company’s results of operations to increase (decrease) the accrued liability. The significant assumptions underlying the material components of the Company’s accrual historically were: a) settlements would continue to be limited almost exclusively to claimants who were exposed to the Company’s asbestos containing insulation prior to its exit from that business in 1958; b) Asbestos Claims would continue to be resolved primarily under the Company’s administrative claims-handling agreements or on terms comparable to those set forth in those agreements; c) the incidence of serious asbestos-related disease cases and claiming patterns against the Company for such cases would not change materially, including claiming pattern changes driven by changes in the law, procedure, or expansion of judicial resources in jurisdictions where the Company settles Asbestos Claims; d) the Company would be substantially able to defend itself successfully at trial and on appeal; e) the number and timing of additional co-defendant bankruptcies would not change significantly the assets available to participate in the resolution of cases in which the Company is a defendant; and f) co-defendants with substantial resources and assets would continue to participate significantly in the resolution of future Asbestos Claims. For the year ended December 31, 2019, the Company concluded that an accrual in the amount of $486 million was required under applicable accounting standards. This amount has not been discounted for the time value of money. The Company’s comprehensive legal review resulted in a charge of $35 million the year ended December 31, 2019. As previously disclosed, the Company anticipated that adjustments to its asbestos-related accruals were possible given the inherent uncertainties involved in asbestos litigation. In the fourth quarter of 2019, this charge was primarily due to an increase in the estimated average disposition cost per claim (including related legal costs), driven primarily by a changing litigation environment more favorable to plaintiffs, and a decrease in the estimated number of claims likely to be asserted against the Company in the future that was less than the decrease expected by the Company. Other Matters Other litigation is pending against the Company, in some cases involving ordinary and routine claims incidental to the business of the Company and in others presenting allegations that are non-routine and involve compensatory, punitive or treble damage claims as well as other types of relief. The Company records a liability for such matters when it is both probable that the liability has been incurred and the amount of the liability can be reasonably estimated. Recorded amounts are reviewed and adjusted to reflect changes in the factors upon which the estimates are based, including additional information, negotiations, settlements and other events.

Share Owners' Equity

Share Owners' Equity	9 Months Ended
	Sep. 30, 2020
Share Owners' Equity
Share Owners' Equity	​ 12. Share Owners’ Equity The activity in share owners’ equity for the three months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share Owners’ Equity of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ ​ ​ ​ Other ​ Non- ​ Total Share ​ ​ ​ Common ​ Excess of ​ Treasury ​ Retained ​ Comprehensive ​ controlling ​ Owners' ​ ​ ​ Stock ​ Par Value ​ Stock ​ Earnings (Loss) ​ Loss ​ Interests ​ Equity ​ Balance on July 1, 2020 ​ $ 2 ​ $ 3,128 ​ $ (724) ​ $ (147) ​ $ (2,308) ​ $ 91 ​ $ 42 ​ Reissuance of common stock (0.2 million shares) ​ ​ ​ ​ ​ (3) ​ ​ 5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Stock compensation (0.1 million shares) ​ ​ ​ ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3 ​ Net earnings (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 328 ​ ​ ​ ​ ​ 7 ​ 335 ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (117) ​ ​ ​ ​ (117) ​ Balance on September 30, 2020 ​ $ 2 ​ $ 3,128 ​ $ (719) ​ $ 181 ​ $ (2,425) ​ $ 98 ​ $ 265 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share Owners’ Equity of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ Retained ​ Other ​ Non- ​ Total Share ​ ​ ​ Common ​ Excess of ​ Treasury ​ Earnings ​ Comprehensive ​ controlling ​ Owners' ​ ​ Stock Par Value Stock ​ (Loss) ​ Loss ​ Interests ​ Equity Balance on July 1, 2019 ​ $ 2 ​ $ 3,136 ​ $ (742) ​ $ 470 ​ $ (1,891) ​ $ 115 ​ $ 1,090 ​ Reissuance of common stock (0.01 million shares) ​ ​ ​ ​ ​ (1) ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Stock compensation (0.01 million shares) ​ ​ ​ ​ ​ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4 ​ Net earnings (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (575) ​ ​ ​ ​ ​ 8 ​ (567) ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (64) ​ ​ (22) ​ (86) ​ Dividends declared ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7) ​ ​ ​ ​ ​ ​ ​ ​ (7) ​ Balance on September 30, 2019 ​ $ 2 ​ $ 3,139 ​ $ (739) ​ $ (112) ​ $ (1,955) ​ $ 101 ​ $ 436 ​ ​ The activity in share owners’ equity for the nine months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share Owners’ Equity of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ ​ ​ ​ Other ​ Non- ​ Total Share ​ ​ ​ Common ​ Excess of ​ Treasury ​ Retained ​ Comprehensive ​ controlling ​ Owners' ​ ​ ​ Stock ​ Par Value ​ Stock ​ Earnings (Loss) ​ Loss ​ Interests ​ Equity Balance on January 1, 2020 ​ $ 2 ​ $ 3,130 ​ $ (733) ​ $ (89) ​ $ (1,843) ​ $ 97 ​ $ 564 ​ Reissuance of common stock (0.7 million shares) ​ ​ ​ ​ ​ (10) ​ ​ 17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7 ​ Stock compensation (0.9 million shares) ​ ​ ​ ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 8 ​ Net earnings (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 278 ​ ​ ​ ​ ​ 11 ​ ​ 289 ​ Other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (582) ​ ​ (10) ​ ​ (592) ​ Dividends declared ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (8) ​ ​ ​ ​ ​ ​ ​ ​ (8) ​ Other ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ Balance on September 30, 2020 ​ $ 2 ​ $ 3,128 ​ $ (719) ​ $ 181 ​ $ (2,425) ​ $ 98 ​ $ 265 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share Owners’ Equity of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ ​ Retained ​ Other ​ Non- ​ Total Share ​ ​ ​ Common ​ Excess of ​ Treasury ​ Earnings ​ Comprehensive ​ controlling ​ Owners' ​ ​ ​ Stock ​ Par Value ​ Stock ​ (Loss) ​ Loss ​ Interests ​ Equity Balance on January 1, 2019 ​ $ 2 ​ $ 3,124 ​ $ (705) ​ $ 333 ​ $ (1,968) ​ $ 114 ​ $ 900 ​ Issuance of common stock (0.1 million shares) ​ ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Reissuance of common stock (0.2 million shares) ​ ​ ​ ​ ​ (2) ​ ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7 ​ Treasury shares purchased (2.1 million shares) ​ ​ ​ ​ ​ ​ ​ ​ (38) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (38) ​ Stock compensation (1.7 million shares) ​ ​ ​ ​ ​ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 15 ​ Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (430) ​ ​ ​ ​ ​ 17 ​ (413) ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 ​ ​ (30) ​ (17) ​ Dividends declared ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (15) ​ ​ ​ ​ ​ ​ ​ ​ (15) ​ Other ​ ​ ​ ​ ​ ​ ​ ​ (5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5) ​ Balance on September 30, 2019 ​ $ 2 ​ $ 3,139 ​ $ (739) ​ $ (112) ​ $ (1,955) ​ $ 101 ​ $ 436 ​ ​ The Company has 250,000,000 shares of common stock authorized with a par value of $.01 per share. Shares outstanding are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares Outstanding (in thousands) ​ ​ September 30, ​ December 31, ​ September 30, ​ 2020 2019 2019 ​ ​ ​ ​ ​ ​ ​ ​ Shares of common stock issued (including treasury shares) 189,302 ​ 188,447 ​ 188,442 ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury shares 32,136 ​ 32,573 ​ 32,812 ​ ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	​ 13. Accumulated Other Comprehensive Loss The activity in accumulated other comprehensive loss for the three months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ Fluctuations Instruments Benefit Plans Loss Balance on July 1, 2020 ​ $ (1,321) ​ $ (21) ​ $ (966) ​ $ (2,308) ​ Change before reclassifications ​ 1 ​ ​ (88) ​ ​ 30 ​ (57) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ 78 (a) 17 (b) 95 ​ Amounts reclassified from accumulated other comprehensive income (loss) related to the ANZ sale ​ ​ (149) ​ ​ 1 ​ ​ 4 ​ ​ (144) ​ Translation effect ​ ​ ​ ​ ​ (1) ​ ​ (9) ​ ​ (10) ​ Tax effect ​ ​ ​ ​ ​ (1) ​ ​ ​ ​ ​ (1) ​ Other comprehensive income (loss) attributable to the Company ​ (148) ​ (11) ​ 42 ​ (117) ​ Balance on September 30, 2020 ​ $ (1,469) ​ $ (32) ​ $ (924) ​ $ (2,425) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on July 1, 2019 ​ $ (830) ​ $ (22) ​ $ (1,039) ​ $ (1,891) Change before reclassifications ​ (96) ​ ​ (50) ​ ​ 8 ​ (138) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ 52 (a) 12 (b) 64 ​ Translation effect ​ ​ ​ ​ ​ 2 ​ ​ 7 ​ ​ 9 ​ Tax effect ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 1 ​ Other comprehensive income (loss) attributable to the Company ​ (96) ​ 5 ​ 27 ​ (64) ​ Balance on September 30, 2019 ​ $ (926) ​ $ (17) ​ $ (1,012) ​ $ (1,955) ​ (a) Amount is included in Cost of goods sold and Other expense, net on the Condensed Consolidated Results of Operations (see Note 6 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 8 for additional information) and net post-retirement benefit cost. The activity in accumulated other comprehensive loss for the nine months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2020 ​ $ (813) ​ $ (14) ​ $ (1,016) ​ $ (1,843) Change before reclassifications ​ (507) ​ ​ (81) ​ ​ 35 ​ (553) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ 67 (a) 51 (b) 118 ​ Amounts reclassified from accumulated other comprehensive income (loss) related to the ANZ sale ​ ​ (149) ​ ​ 1 ​ ​ 4 ​ ​ (144) ​ Translation effect ​ ​ ​ ​ ​ (3) ​ ​ 4 ​ ​ 1 ​ Tax effect ​ ​ ​ ​ ​ (2) ​ (2) ​ (4) ​ Other comprehensive income (loss) attributable to the Company ​ (656) ​ (18) ​ 92 ​ (582) ​ Balance on September 30, 2020 ​ $ (1,469) ​ $ (32) ​ $ (924) ​ $ (2,425) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2019 ​ $ (889) ​ $ (18) ​ $ (1,061) ​ $ (1,968) Change before reclassifications ​ (37) ​ ​ (46) ​ ​ 6 ​ (77) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ 38 (a) 37 (b) 75 ​ Translation effect ​ ​ ​ ​ ​ 5 ​ ​ 6 ​ ​ 11 ​ Tax effect ​ ​ ​ ​ ​ 4 ​ ​ ​ 4 ​ Other comprehensive income (loss) attributable to the Company ​ (37) ​ 1 ​ 49 ​ 13 ​ Balance on September 30, 2019 ​ $ (926) ​ $ (17) ​ $ (1,012) ​ $ (1,955) ​ (a) Amount is included in Cost of goods sold and Other expense, net on the Condensed Consolidated Results of Operations (see Note 6 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 8 for additional information) and net post-retirement benefit cost.

Other Income (Expense), Net

Other Income (Expense), Net	9 Months Ended
	Sep. 30, 2020
Other Income (Expense), Net
Other Income (Expense), Net	14. Other Income (Expense), Net Other income (expense), net for the three and nine months ended September 30, 2020 and 2019 included the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2020 2019 2020 2019 Impairment of goodwill (see Note 5) ​ $ ​ ​ $ (595) ​ $ ​ ​ $ (595) Gain on sale of ANZ businesses ​ ​ 280 ​ ​ ​ ​ ​ 280 ​ ​ ​ Restructuring, asset impairment and other charges ​ ​ (9) ​ ​ (31) ​ ​ (80) ​ ​ (69) Pension settlement charges ​ ​ ​ ​ ​ (11) ​ ​ (8) ​ ​ (13) Intangible amortization expense ​ ​ (8) ​ ​ (11) ​ ​ (23) ​ ​ (31) Strategic transaction costs ​ ​ (3) ​ ​ ​ ​ ​ (7) ​ ​ ​ Foreign currency exchange loss ​ ​ (1) ​ ​ (3) ​ ​ (3) ​ ​ (6) Royalty income ​ ​ 2 ​ ​ 3 ​ ​ 8 ​ ​ 10 Charge for deconsolidation of Paddock (see Note 11) ​ ​ ​ ​ ​ ​ ​ ​ (14) ​ ​ ​ Other income (expense), net ​ ​ (11) ​ ​ 3 ​ ​ (6) ​ ​ (5) ​ ​ $ 250 ​ $ (645) ​ $ 147 ​ $ (709) ​

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share
Earnings Per Share	​ 15. Earnings Per Share The following table sets forth the computation of basic and diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ 2020 2019 Numerator: ​ ​ Net earnings (loss) attributable to the Company ​ $ 328 ​ $ (575) Denominator (in thousands): ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share-weighted average shares outstanding ​ 157,073 ​ ​ 155,536 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Stock options and other ​ 2,226 ​ ​ Denominator for diluted earnings per share-adjusted weighted average shares outstanding ​ 159,299 ​ ​ 155,536 Basic earnings (loss) per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) from continuing operations attributable to the Company ​ $ 2.09 ​ $ (3.69) Loss from discontinued operations ​ ​ ​ ​ Net earnings (loss) ​ $ 2.09 ​ $ (3.69) Diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) from continuing operations attributable to the Company ​ $ 2.06 ​ $ (3.69) Loss from discontinued operations ​ ​ ​ ​ Net earnings (loss) ​ $ 2.06 ​ $ (3.69) ​ Options to purchase 1,564,207 and 2,446,932 weighted average shares of common stock, which were outstanding during the three months ended September 30, 2020 and 2019, respectively, were not included in the computation of diluted earnings per share because the exercise prices of the options were greater than the average market price of the common shares. For the three months ended September 30, 2019, diluted earnings per share of common stock was equal to basic earnings per share of common stock due to the loss from continuing operations. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ 2020 2019 Numerator: ​ ​ ​ Net earnings (loss) attributable to the Company ​ $ 278 ​ $ (430) Denominator (in thousands): ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share-weighted average shares outstanding ​ 156,650 ​ 155,083 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Stock options and other ​ 1,788 ​ ​ Denominator for diluted earnings per share-adjusted weighted average shares outstanding ​ 158,438 ​ 155,083 Basic earnings (loss) per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) from continuing operations attributable to the Company ​ $ 1.77 ​ $ (2.77) Loss from discontinued operations ​ ​ ​ (0.01) Net earnings (loss) ​ $ 1.77 ​ $ (2.78) Diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) from continuing operations attributable to the Company ​ $ 1.76 ​ $ (2.77) Loss from discontinued operations ​ ​ ​ (0.01) Net earnings (loss) ​ $ 1.76 ​ $ (2.78) ​ Options to purchase 2,616,538 and 1,848,974 weighted average shares of common stock, which were outstanding during the nine months ended September 30, 2020 and 2019, respectively, were not included in the computation of diluted earnings per share because the exercise prices of the options were greater than the average market price of the common shares. For the nine months ended September 30, 2019, diluted earnings per share of common stock was equal to basic earnings per share of common stock due to the loss from continuing operations.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information
Supplemental Cash Flow Information	16. Supplemental Cash Flow Information Income taxes paid (received) in cash were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ ​ 2020 2019 U.S. ​ $ 1 ​ $ — ​ Non-U.S. ​ 53 ​ 81 ​ Total income taxes paid in cash ​ $ 54 ​ $ 81 ​ ​ Interest paid, including note repurchase premiums, in cash for the nine months ended September 30, 2020 and 2019 was $196 million and $224 million, respectively. Cash interest for the nine months ended September 30, 2020 and September 30, 2019 included $41 million and $23 million, respectively, of note repurchase premiums. The Company uses various factoring programs to sell certain receivables to financial institutions as part of managing its cash flows. At September 30, 2020, December 31, 2019 and September 30, 2019, the amount of receivables sold by the Company was $426 million, $539 million and $369 million, respectively. For the nine months ended September 30, 2020 and 2019, the Company reduced the use of its factoring programs compared to the most recent respective year-end periods and this resulted in a higher use of working capital, and a corresponding decrease to cash from operating activities, of approximately $113 million and $231 million, respectively.

New Accounting Pronouncement

New Accounting Pronouncement	9 Months Ended
	Sep. 30, 2020
New Accounting Pronouncement
New Accounting Pronouncement	17. New Accounting Pronouncement ​ Credit Losses - impact on the Company’s consolidated balance sheet, consolidated results of operations or consolidated cash flows. See Note 3 for additional information. ​ Disclosure Requirements for Fair Value Measurement - Disclosure Requirements for Defined Benefit Plans ​ Effects of Reference Rate Reform on Financial Reporting ” which allows for elective contract modification guidance for contracts or other transactions that reference LIBOR or a reference rate that is expected to be discontinued as a result of reference rate reform. The Company adopted ASU No. 2020-04 effective July 1, 2020. The adoption of this ASU had no impact on

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2020
Business Combinations
Business Combinations	18. Business Combinations ​ On June 28, 2019, the Company completed the acquisition of Nueva Fábrica Nacional de Vidrio, S. de R.L. de C.V. (“Nueva Fanal”) from Grupo Modelo, an affiliate of Anheuser-Busch InBev SA/NV for a total purchase price of approximately $188 million. The Company financed this acquisition with debt. The Nueva Fanal facility is located near Mexico City, Mexico. Currently, this plant has three furnaces to produce and supply approximately 240,000 tons of glass containers annually for Grupo Modelo brands, such as Corona, for local and global export markets. This acquisition increases the Company’s presence in the Mexican glass packaging market. Nueva Fanal’s operating results are included in the Company’s Consolidated Financial Statements from the acquisition date as part of the Americas segment. The acquisition qualifies as a business combination and was accounted for using the acquisition method of accounting. The total purchase price was allocated to the tangible and identifiable intangible assets and liabilities based upon their respective fair values and was completed during the second quarter of 2020. This resulted in the recognition of approximately $20 million of goodwill that is not deductible for tax purposes and approximately $3 million of other intangible assets. This acquisition did not meet the thresholds for a significant acquisition and therefore no pro forma financial information is presented.

COVID-19 Impacts

COVID-19 Impacts	9 Months Ended
	Sep. 30, 2020
COVID-19 Impacts
COVID-19	19. COVID-19 Impacts ​ On March 11, 2020, the World Health Organization characterized COVID-19 as a global pandemic and recommended containment and mitigation measures. The Company is actively monitoring the impact of the global COVID-19 pandemic, which negatively impacted the first, second and third quarters of 2020 and will negatively impact its business and results of operations for the fourth quarter of 2020 and likely beyond. ​ The preparation of Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates particularly as it relates to estimates reliant on forecasts and other assumptions reasonably available to the Company and the uncertain future impacts of the COVID-19 pandemic and related economic disruptions. The extent to which the COVID-19 pandemic and related economic disruptions impact the Company’s business and financial results will depend on future developments including, but not limited to, the continued spread, duration and severity of the COVID-19 pandemic; the occurrence, spread, duration and severity of any subsequent wave or waves of outbreaks after the initial outbreak has subsided; the actions taken by the U.S. and foreign governments to contain the COVID-19 pandemic, address its impact or respond to the reduction in global and local economic activity; the occurrence, duration and severity of a global, regional or national recession, depression or other sustained adverse market event; the impact of the developments described above on our customers and suppliers; and how quickly and to what extent normal economic and operating conditions can resume. The accounting matters assessed included, but were not limited to: ​ • allowance for doubtful accounts and credit losses ​ • carrying value of inventory; and ​ • the carrying value of goodwill and other long-lived assets. ​ There was not a material impact to the above estimates in the Company’s Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2020. The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material changes to the estimates and material impacts to the Company’s Consolidated Financial Statements in future reporting periods. ​

Divestiture

Divestiture	9 Months Ended
	Sep. 30, 2020
Divestiture
Divestiture	20. Divestiture ​ On July 31, 2020, the Company completed the sale of its ANZ businesses to Visy, an unaffiliated company. Gross proceeds approximated AUD $947 million (including a related sale-leaseback agreement which approximated AUD $214 million) or approximately USD $677 million. Approximately 95% of those proceeds were received at the time of closing and the remaining balance will be paid within 12 months of closing without conditions precedent. In the third quarter of 2020, the Company recognized a net gain (including costs directly attributable to the sale of ANZ and subject to post-closing adjustments) on the divestiture of approximately $280 million, which was reported on the Other income (expense), net line in the Condensed Consolidated Results of Operations. Certain post-closing adjustments, such as a working capital adjustment, will be recorded in future periods once finalized. In addition, at closing, certain subsidiaries of the Company entered into certain ancillary agreements with Visy and the ANZ businesses in respect of the provision of certain transitional and technical services to the ANZ businesses. ​

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Information
Net sales for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ 2020 2019 2020 2019 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 887 ​ $ 918 ​ $ 2,442 ​ $ 2,733 ​ Europe ​ 644 ​ 588 ​ 1,775 ​ ​ 1,834 ​ Asia Pacific ​ 52 ​ 128 ​ 281 ​ ​ 382 ​ Reportable segment totals ​ 1,583 ​ 1,634 ​ 4,498 ​ 4,949 ​ Other ​ 33 ​ ​ 36 ​ ​ 97 ​ ​ 114 ​ Net sales ​ $ 1,616 ​ $ 1,670 ​ $ 4,595 ​ $ 5,063 ​
Segment operating profit (loss) for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2020 2019 2020 2019 Segment operating profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 113 ​ $ 123 ​ $ 268 ​ $ 380 ​ Europe ​ 88 ​ 79 ​ 191 ​ 248 ​ Asia Pacific ​ 3 ​ 4 ​ 19 ​ 25 ​ Reportable segment totals ​ 204 ​ 206 ​ 478 ​ 653 ​ Items excluded from segment operating profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained corporate costs and other ​ ​ (35) ​ ​ (21) ​ ​ (98) ​ ​ (83) ​ Gain on sale of ANZ businesses ​ ​ 280 ​ ​ ​ ​ ​ 280 ​ ​ ​ ​ Charge for goodwill impairment ​ ​ ​ ​ ​ (595) ​ ​ ​ ​ ​ (595) ​ Restructuring, asset impairment and other charges ​ (9) ​ ​ (32) ​ ​ (80) ​ ​ (73) ​ Charge for deconsolidation of Paddock ​ ​ ​ ​ ​ ​ ​ (14) ​ ​ ​ ​ Pension settlement charges ​ ​ ​ ​ (11) ​ ​ (8) ​ ​ (13) ​ Strategic transaction costs ​ ​ (3) ​ ​ ​ ​ ​ (7) ​ ​ ​ ​ Interest expense, net ​ (61) ​ ​ (83) ​ ​ (212) ​ ​ (215) ​ Earnings (loss) from continuing operations before income taxes ​ $ 376 ​ $ (536) ​ $ 339 ​ $ (326) ​
Total assets for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ 2020 ​ 2019 ​ 2019 ​ Total assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas $ 4,663 $ 5,264 $ 5,241 ​ Europe ​ 3,307 ​ 3,127 ​ 3,053 ​ Asia Pacific ​ ​ ​ 694 ​ 695 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable segment totals ​ 7,970 ​ 9,085 ​ 8,989 ​ Other ​ 654 ​ ​ 525 ​ ​ 559 ​ Consolidated totals $ 8,624 $ 9,610 $ 9,548 ​

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue
Schedule of disaggregation of revenue by customer end use	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2020 ​ Americas ​ Europe ​ Asia Pacific ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 537 $ 452 $ 40 ​ $ 1,029 Food and other ​ 222 ​ 138 ​ 6 ​ 366 Non-alcoholic beverages ​ 128 ​ 54 ​ 6 ​ 188 Reportable segment totals ​ $ 887 ​ $ 644 ​ $ 52 ​ $ 1,583 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 33 Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,616 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2019 ​ Americas ​ Europe ​ Asia Pacific ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 591 ​ $ 409 ​ $ 99 ​ $ 1,099 Food and other ​ 192 ​ ​ 119 ​ ​ 16 ​ 327 Non-alcoholic beverages ​ 135 ​ ​ 60 ​ ​ 13 ​ 208 Reportable segment totals ​ $ 918 ​ $ 588 ​ $ 128 ​ $ 1,634 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 36 Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 1,670 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2020 ​ Americas ​ Europe ​ Asia Pacific ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 1,471 $ 1,258 $ 217 ​ $ 2,946 Food and other ​ 609 ​ 360 ​ 38 ​ 1,007 Non-alcoholic beverages ​ 362 ​ 157 ​ 26 ​ 545 Reportable segment totals ​ $ 2,442 ​ $ 1,775 ​ $ 281 ​ $ 4,498 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 97 Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,595 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2019 ​ Americas ​ Europe ​ Asia Pacific ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 1,744 ​ $ 1,315 ​ $ 295 ​ $ 3,354 Food and other ​ 564 ​ ​ 331 ​ ​ 51 ​ 946 Non-alcoholic beverages ​ 425 ​ ​ 188 ​ ​ 36 ​ 649 Reportable segment totals ​ $ 2,733 ​ $ 1,834 ​ $ 382 ​ $ 4,949 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 114 Net sales ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 5,063 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2020
Inventories
Major classes of inventory	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ ​ 2020 2019 2019 Finished goods ​ $ 625 ​ $ 872 ​ $ 836 ​ ​ Raw materials ​ 121 ​ 128 ​ 134 ​ ​ Operating supplies ​ 36 ​ 45 ​ 45 ​ ​ ​ ​ $ 782 ​ $ 1,045 ​ $ 1,015 ​ ​

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments
Balance Sheet Classification of derivative instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value of ​ Fair Value of ​ ​ Hedge Assets ​ Hedge Liabilities ​ ​ September 30, ​ December 31, ​ September 30, ​ September 30, ​ December 31, ​ September 30, ​ 2020 2019 2019 2020 2019 2019 Derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts (a) ​ $ — ​ $ 1 ​ $ 1 ​ $ — ​ $ — ​ $ — Interest rate swaps - fair value hedges (b) ​ ​ 16 ​ ​ 8 ​ ​ 17 ​ ​ ​ ​ ​ 2 ​ ​ ​ Cash flow hedges of foreign exchange risk (c) ​ ​ 9 ​ ​ 25 ​ ​ 36 ​ ​ 67 ​ ​ 21 ​ ​ ​ Interest rate swaps - cash flow hedges (d) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1 ​ ​ 1 Net investment hedges (e) ​ ​ 2 ​ ​ 2 ​ ​ 7 ​ ​ 27 ​ ​ ​ ​ ​ ​ Total derivatives accounted for as hedges ​ $ 27 ​ $ 36 ​ $ 61 ​ $ 94 ​ $ 24 ​ $ 1 Derivatives not designated as hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange derivative contracts (f) ​ ​ 3 ​ ​ 2 ​ ​ 2 ​ ​ 6 ​ ​ ​ ​ ​ 3 Total derivatives ​ $ 30 ​ $ 38 ​ $ 63 ​ $ 100 ​ $ 24 ​ $ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 16 ​ $ 8 ​ $ 34 ​ $ 13 ​ $ — ​ $ 3 Noncurrent ​ ​ 14 ​ ​ 30 ​ ​ 29 ​ ​ 87 ​ ​ 24 ​ ​ 1 Total derivatives ​ $ 30 ​ $ 38 ​ $ 63 ​ $ 100 ​ $ 24 ​ $ 4 (a) The notional amounts of the commodity forward contracts, related to customer requests to lock the price of natural gas, were approximately 1.5 million BTUs, 2.1 million BTUs and 2.1 million BTUs at September 30, 2020, December 31, 2019 and September 30, 2019, respectively. The maximum maturity dates were in 2020 for all three periods. (b) The notional amounts of the interest rate swaps designated as fair value hedges were €725 million at September 30, 2020, December 31, 2019 and September 30, 2019. The maximum maturity dates were in 2025 for September 30, 2020 and December 31, 2019 and in 2024 for September 30, 2019. (c) The notional amounts of the cash flow hedges of foreign exchange risk were $1.1 billion at September 30, 2020 and December 31, 2019 and $1.2 billion at September 30, 2019. The maximum maturity dates were in 2023 for all three periods. (d) The notional amounts of the interest rate swaps designated as cash flow hedges were $0 at September 30, 2020, $105 million at December 31, 2019 and $180 million at September 30, 2019. Maximum maturity dates were in 2020 for September 30, 2020 and December 31, 2019 and in 2021 for September 30, 2019. (e) The notional amounts of the net investment hedges were €311 million at September 30, 2020 and €160 million at December 31, 2019 and September 30, 2019. The maximum maturity dates were in 2020 for all three periods. (f) The notional amounts of the foreign exchange derivative contracts were $247 million, $283 million and $169 million at September 30, 2020, December 31, 2019 and September 30, 2019, respectively. The maximum maturity dates were in 2021 for September 30, 2020 and in 2019 for December 31, 2019 and September 30, 2019. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) Recognized in OCI (Effective Portion) ​ ​ Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1) ​ ​ ​ Three months ended September 30, ​ ​ Three months ended September 30, ​ Derivatives designated as hedging instruments: 2020 ​ 2019 ​ ​ 2020 ​ 2019 ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts (a) ​ $ 1 ​ $ (1) ​ ​ $ 1 ​ $ — ​ Cash flow hedges of foreign exchange risk (b) ​ ​ (61) ​ ​ (52) ​ ​ ​ (80) ​ ​ (54) ​ Cash flow hedges of interest rate risk (c) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Investment Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Investment Hedges (c) ​ ​ (26) ​ ​ 8 ​ ​ ​ 1 ​ ​ 2 ​ ​ ​ $ (86) ​ $ (45) ​ ​ $ (78) ​ $ (52) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain (Loss) Recognized in OCI (Effective Portion) ​ ​ Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1) ​ ​ ​ Nine months ended September 30, ​ ​ Nine months ended September 30, ​ Derivatives designated as hedging instruments: 2020 ​ 2019 ​ ​ 2020 ​ 2019 ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts (a) ​ $ (1) ​ $ — ​ ​ $ 1 ​ $ (1) ​ Cash flow hedges of foreign exchange risk (b) ​ ​ (51) ​ ​ (50) ​ ​ ​ (71) ​ ​ (42) ​ Cash flow hedges of interest rate risk (c) ​ ​ ​ ​ ​ (1) ​ ​ ​ (1) ​ ​ ​ ​ Net Investment Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Investment Hedges (c) ​ ​ (29) ​ ​ 13 ​ ​ ​ 4 ​ ​ 5 ​ ​ ​ $ (81) ​ $ (38) ​ ​ $ (67) ​ $ (38) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) Recognized in Other income (expense), net ​ ​ Amount of Gain (Loss) Recognized in Other income (expense), net ​ ​ ​ Three months ended September 30, ​ ​ Nine months ended September 30, ​ Derivatives not designated as hedges: 2020 ​ 2019 ​ ​ 2020 ​ 2019 ​ Foreign exchange derivative contracts $ 3 $ 1 ​ $ 13 $ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Gains and losses reclassified from accumulated OCI and recognized in income are recorded to (a) cost of goods sold, (b) other expense, net or (c) interest expense, net.
Effects of derivative instruments on the results of operations	​

Restructuring Accruals (Tables)

Restructuring Accruals (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring Accruals
Selected information related to the restructuring accruals	Selected information related to the restructuring accruals for the three months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at July 1, 2020 ​ $ 30 ​ $ — ​ $ 17 ​ $ 47 Charges ​ ​ 2 ​ ​ 3 ​ ​ ​ ​ ​ 5 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ (3) Net cash paid, principally severance and related benefits ​ (10) ​ ​ ​ ​ ​ ​ ​ (10) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ (4) ​ (4) Balance at September 30, 2020 ​ $ 22 ​ $ — ​ $ 13 ​ $ 35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at July 1, 2019 ​ $ 50 ​ $ — ​ $ 20 ​ $ 70 Charges ​ ​ 5 ​ ​ 17 ​ ​ 2 ​ ​ 24 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (17) ​ ​ ​ ​ ​ (17) Net cash paid, principally severance and related benefits ​ (6) ​ ​ ​ ​ ​ (6) ​ (12) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ (1) ​ (1) Balance at September 30, 2019 ​ $ 49 ​ $ — ​ $ 15 ​ $ 64 ​ Selected information related to the restructuring accruals for the nine months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at January 1, 2020 ​ $ 32 ​ $ — ​ $ 13 ​ $ 45 Charges ​ ​ 23 ​ ​ 43 ​ ​ 6 ​ ​ 72 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ (31) ​ ​ ​ ​ ​ (1) ​ (32) Other, including foreign exchange translation ​ (2) ​ ​ ​ ​ ​ (5) ​ (7) Balance at September 30, 2020 ​ $ 22 ​ $ — ​ $ 13 ​ $ 35 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at January 1, 2019 ​ $ 47 ​ $ — ​ $ 22 ​ $ 69 Charges ​ ​ 32 ​ ​ 17 ​ ​ 7 ​ ​ 56 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (17) ​ ​ ​ ​ ​ (17) Net cash paid, principally severance and related benefits ​ (30) ​ ​ ​ ​ ​ (11) ​ ​ (41) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ (3) Balance at September 30, 2019 ​ $ 49 ​ $ — ​ $ 15 ​ $ 64

Pension Benefit Plans (Tables)

Pension Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Pension Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans
Components of net periodic pension cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ Non-U.S. ​ 2020 2019 2020 2019 Service cost ​ $ 3 ​ $ 3 ​ $ 3 ​ $ 3 ​ Interest cost ​ 12 ​ 15 ​ 6 ​ 7 ​ Expected asset return ​ ​ (19) ​ ​ (22) ​ ​ (12) ​ ​ (11) ​ Amortization of actuarial loss ​ ​ 14 ​ ​ 10 ​ ​ 3 ​ ​ 3 ​ Net periodic pension cost ​ $ 10 ​ $ 6 ​ $ — ​ $ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ Non-U.S. ​ 2020 2019 2020 2019 Service cost ​ $ 9 ​ $ 9 ​ $ 10 ​ $ 9 ​ Interest cost ​ 37 ​ 45 ​ 19 ​ 22 ​ Expected asset return ​ ​ (60) ​ ​ (65) ​ ​ (36) ​ ​ (33) ​ Amortization of actuarial loss ​ ​ 42 ​ ​ 30 ​ ​ 9 ​ ​ 7 ​ Net periodic pension cost ​ $ 28 ​ $ 19 ​ $ 2 ​ $ 5 ​

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt
Long-term Debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ 2020 2019 2019 ​ Secured Credit Agreement: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Credit Facility: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Loans ​ $ 195 ​ $ — ​ $ 265 ​ Term Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loan A ​ ​ 1,157 ​ ​ 1,477 ​ ​ 1,496 ​ Other secured debt ​ ​ 109 ​ ​ 333 ​ ​ 454 ​ Senior Notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 6.75%, due 2020 (€500 million) ​ ​ ​ ​ ​ ​ ​ 273 ​ 4.875%, due 2021 (€0 million at September 30, 2020, €118 million December 31, 2019 and €330 million at September 30, 2019) ​ ​ ​ ​ 132 ​ ​ 360 ​ 5.00%, due 2022 ​ ​ ​ ​ ​ 497 ​ ​ 498 ​ 4.00%, due 2023 ​ ​ 307 ​ ​ 307 ​ ​ 307 ​ 5.875%, due 2023 ​ ​ 691 ​ ​ 689 ​ ​ 690 ​ 3.125%, due 2024 (€725 million) ​ ​ 873 ​ ​ 824 ​ ​ 818 ​ 6.375%, due 2025 ​ ​ 296 ​ ​ 295 ​ ​ 296 ​ 5.375%, due 2025 ​ ​ 298 ​ ​ 297 ​ ​ 298 ​ 2.875%, due 2025 (€500 million) ​ ​ 579 ​ ​ 552 ​ ​ ​ ​ 6.625%, due 2027 ​ ​ 691 ​ ​ ​ ​ ​ ​ ​ Finance leases ​ ​ 94 ​ ​ 70 ​ ​ 43 ​ Other ​ 6 ​ ​ 11 ​ ​ 16 ​ Total long-term debt ​ 5,296 ​ 5,484 ​ ​ 5,814 ​ Less amounts due within one year ​ 133 ​ ​ 49 ​ ​ 302 ​ Long-term debt ​ $ 5,163 ​ $ 5,435 ​ $ 5,512 ​
Fair values of the Company's significant fixed rate debt obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal ​ Indicated Market ​ ​ ​ Amount Price Per $ Fair Value Senior Notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4.00%, due 2023 ​ $ 310 ​ $ 101.71 ​ $ 315 ​ 5.875%, due 2023 ​ 700 ​ ​ 105.64 ​ ​ 739 ​ 3.125%, due 2024 (€725 million) ​ ​ 851 ​ ​ 101.22 ​ ​ 861 ​ 6.375%, due 2025 ​ ​ 300 ​ ​ 109.17 ​ ​ 328 ​ 5.375%, due 2025 ​ ​ 300 ​ ​ 106.35 ​ ​ 319 ​ 2.875%, due 2025 (€500 million) ​ ​ 587 ​ ​ 99.19 ​ ​ 582 ​ 6.625%, due 2027 ​ ​ 700 ​ ​ 108.48 ​ ​ 759 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Share Owners' Equity (Tables)

Share Owners' Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Share Owners' Equity
Activity in share owner's equity	The activity in share owners’ equity for the three months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share Owners’ Equity of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ ​ ​ ​ Other ​ Non- ​ Total Share ​ ​ ​ Common ​ Excess of ​ Treasury ​ Retained ​ Comprehensive ​ controlling ​ Owners' ​ ​ ​ Stock ​ Par Value ​ Stock ​ Earnings (Loss) ​ Loss ​ Interests ​ Equity ​ Balance on July 1, 2020 ​ $ 2 ​ $ 3,128 ​ $ (724) ​ $ (147) ​ $ (2,308) ​ $ 91 ​ $ 42 ​ Reissuance of common stock (0.2 million shares) ​ ​ ​ ​ ​ (3) ​ ​ 5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Stock compensation (0.1 million shares) ​ ​ ​ ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3 ​ Net earnings (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 328 ​ ​ ​ ​ ​ 7 ​ 335 ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (117) ​ ​ ​ ​ (117) ​ Balance on September 30, 2020 ​ $ 2 ​ $ 3,128 ​ $ (719) ​ $ 181 ​ $ (2,425) ​ $ 98 ​ $ 265 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share Owners’ Equity of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ Retained ​ Other ​ Non- ​ Total Share ​ ​ ​ Common ​ Excess of ​ Treasury ​ Earnings ​ Comprehensive ​ controlling ​ Owners' ​ ​ Stock Par Value Stock ​ (Loss) ​ Loss ​ Interests ​ Equity Balance on July 1, 2019 ​ $ 2 ​ $ 3,136 ​ $ (742) ​ $ 470 ​ $ (1,891) ​ $ 115 ​ $ 1,090 ​ Reissuance of common stock (0.01 million shares) ​ ​ ​ ​ ​ (1) ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Stock compensation (0.01 million shares) ​ ​ ​ ​ ​ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4 ​ Net earnings (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (575) ​ ​ ​ ​ ​ 8 ​ (567) ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (64) ​ ​ (22) ​ (86) ​ Dividends declared ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7) ​ ​ ​ ​ ​ ​ ​ ​ (7) ​ Balance on September 30, 2019 ​ $ 2 ​ $ 3,139 ​ $ (739) ​ $ (112) ​ $ (1,955) ​ $ 101 ​ $ 436 ​ ​ The activity in share owners’ equity for the nine months ended September 30, 2020 and 2019 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share Owners’ Equity of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ ​ ​ ​ Other ​ Non- ​ Total Share ​ ​ ​ Common ​ Excess of ​ Treasury ​ Retained ​ Comprehensive ​ controlling ​ Owners' ​ ​ ​ Stock ​ Par Value ​ Stock ​ Earnings (Loss) ​ Loss ​ Interests ​ Equity Balance on January 1, 2020 ​ $ 2 ​ $ 3,130 ​ $ (733) ​ $ (89) ​ $ (1,843) ​ $ 97 ​ $ 564 ​ Reissuance of common stock (0.7 million shares) ​ ​ ​ ​ ​ (10) ​ ​ 17 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7 ​ Stock compensation (0.9 million shares) ​ ​ ​ ​ ​ 8 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 8 ​ Net earnings (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 278 ​ ​ ​ ​ ​ 11 ​ ​ 289 ​ Other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (582) ​ ​ (10) ​ ​ (592) ​ Dividends declared ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (8) ​ ​ ​ ​ ​ ​ ​ ​ (8) ​ Other ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ Balance on September 30, 2020 ​ $ 2 ​ $ 3,128 ​ $ (719) ​ $ 181 ​ $ (2,425) ​ $ 98 ​ $ 265 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Share Owners’ Equity of the Company ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital in ​ ​ ​ ​ ​ Retained ​ Other ​ Non- ​ Total Share ​ ​ ​ Common ​ Excess of ​ Treasury ​ Earnings ​ Comprehensive ​ controlling ​ Owners' ​ ​ ​ Stock ​ Par Value ​ Stock ​ (Loss) ​ Loss ​ Interests ​ Equity Balance on January 1, 2019 ​ $ 2 ​ $ 3,124 ​ $ (705) ​ $ 333 ​ $ (1,968) ​ $ 114 ​ $ 900 ​ Issuance of common stock (0.1 million shares) ​ ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Reissuance of common stock (0.2 million shares) ​ ​ ​ ​ ​ (2) ​ ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7 ​ Treasury shares purchased (2.1 million shares) ​ ​ ​ ​ ​ ​ ​ ​ (38) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (38) ​ Stock compensation (1.7 million shares) ​ ​ ​ ​ ​ 15 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 15 ​ Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (430) ​ ​ ​ ​ ​ 17 ​ (413) ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 13 ​ ​ (30) ​ (17) ​ Dividends declared ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (15) ​ ​ ​ ​ ​ ​ ​ ​ (15) ​ Other ​ ​ ​ ​ ​ ​ ​ ​ (5) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5) ​ Balance on September 30, 2019 ​ $ 2 ​ $ 3,139 ​ $ (739) ​ $ (112) ​ $ (1,955) ​ $ 101 ​ $ 436 ​
Schedule of shares outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares Outstanding (in thousands) ​ ​ September 30, ​ December 31, ​ September 30, ​ 2020 2019 2019 ​ ​ ​ ​ ​ ​ ​ ​ Shares of common stock issued (including treasury shares) 189,302 ​ 188,447 ​ 188,442 ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury shares 32,136 ​ 32,573 ​ 32,812 ​

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Loss
Component of accumulated other comprehensive loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ Fluctuations Instruments Benefit Plans Loss Balance on July 1, 2020 ​ $ (1,321) ​ $ (21) ​ $ (966) ​ $ (2,308) ​ Change before reclassifications ​ 1 ​ ​ (88) ​ ​ 30 ​ (57) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ 78 (a) 17 (b) 95 ​ Amounts reclassified from accumulated other comprehensive income (loss) related to the ANZ sale ​ ​ (149) ​ ​ 1 ​ ​ 4 ​ ​ (144) ​ Translation effect ​ ​ ​ ​ ​ (1) ​ ​ (9) ​ ​ (10) ​ Tax effect ​ ​ ​ ​ ​ (1) ​ ​ ​ ​ ​ (1) ​ Other comprehensive income (loss) attributable to the Company ​ (148) ​ (11) ​ 42 ​ (117) ​ Balance on September 30, 2020 ​ $ (1,469) ​ $ (32) ​ $ (924) ​ $ (2,425) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on July 1, 2019 ​ $ (830) ​ $ (22) ​ $ (1,039) ​ $ (1,891) Change before reclassifications ​ (96) ​ ​ (50) ​ ​ 8 ​ (138) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ 52 (a) 12 (b) 64 ​ Translation effect ​ ​ ​ ​ ​ 2 ​ ​ 7 ​ ​ 9 ​ Tax effect ​ ​ ​ ​ ​ 1 ​ ​ ​ ​ ​ 1 ​ Other comprehensive income (loss) attributable to the Company ​ (96) ​ 5 ​ 27 ​ (64) ​ Balance on September 30, 2019 ​ $ (926) ​ $ (17) ​ $ (1,012) ​ $ (1,955) ​ (a) Amount is included in Cost of goods sold and Other expense, net on the Condensed Consolidated Results of Operations (see Note 6 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 8 for additional information) and net post-retirement benefit cost. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2020 ​ $ (813) ​ $ (14) ​ $ (1,016) ​ $ (1,843) Change before reclassifications ​ (507) ​ ​ (81) ​ ​ 35 ​ (553) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ 67 (a) 51 (b) 118 ​ Amounts reclassified from accumulated other comprehensive income (loss) related to the ANZ sale ​ ​ (149) ​ ​ 1 ​ ​ 4 ​ ​ (144) ​ Translation effect ​ ​ ​ ​ ​ (3) ​ ​ 4 ​ ​ 1 ​ Tax effect ​ ​ ​ ​ ​ (2) ​ (2) ​ (4) ​ Other comprehensive income (loss) attributable to the Company ​ (656) ​ (18) ​ 92 ​ (582) ​ Balance on September 30, 2020 ​ $ (1,469) ​ $ (32) ​ $ (924) ​ $ (2,425) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2019 ​ $ (889) ​ $ (18) ​ $ (1,061) ​ $ (1,968) Change before reclassifications ​ (37) ​ ​ (46) ​ ​ 6 ​ (77) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ 38 (a) 37 (b) 75 ​ Translation effect ​ ​ ​ ​ ​ 5 ​ ​ 6 ​ ​ 11 ​ Tax effect ​ ​ ​ ​ ​ 4 ​ ​ ​ 4 ​ Other comprehensive income (loss) attributable to the Company ​ (37) ​ 1 ​ 49 ​ 13 ​ Balance on September 30, 2019 ​ $ (926) ​ $ (17) ​ $ (1,012) ​ $ (1,955) ​ (a) Amount is included in Cost of goods sold and Other expense, net on the Condensed Consolidated Results of Operations (see Note 6 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 8 for additional information) and net post-retirement benefit cost.

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	9 Months Ended
	Sep. 30, 2020
Other Income (Expense), Net
Schedule of other income (expense), net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2020 2019 2020 2019 Impairment of goodwill (see Note 5) ​ $ ​ ​ $ (595) ​ $ ​ ​ $ (595) Gain on sale of ANZ businesses ​ ​ 280 ​ ​ ​ ​ ​ 280 ​ ​ ​ Restructuring, asset impairment and other charges ​ ​ (9) ​ ​ (31) ​ ​ (80) ​ ​ (69) Pension settlement charges ​ ​ ​ ​ ​ (11) ​ ​ (8) ​ ​ (13) Intangible amortization expense ​ ​ (8) ​ ​ (11) ​ ​ (23) ​ ​ (31) Strategic transaction costs ​ ​ (3) ​ ​ ​ ​ ​ (7) ​ ​ ​ Foreign currency exchange loss ​ ​ (1) ​ ​ (3) ​ ​ (3) ​ ​ (6) Royalty income ​ ​ 2 ​ ​ 3 ​ ​ 8 ​ ​ 10 Charge for deconsolidation of Paddock (see Note 11) ​ ​ ​ ​ ​ ​ ​ ​ (14) ​ ​ ​ Other income (expense), net ​ ​ (11) ​ ​ 3 ​ ​ (6) ​ ​ (5) ​ ​ $ 250 ​ $ (645) ​ $ 147 ​ $ (709)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share
Computation of basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ 2020 2019 Numerator: ​ ​ Net earnings (loss) attributable to the Company ​ $ 328 ​ $ (575) Denominator (in thousands): ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share-weighted average shares outstanding ​ 157,073 ​ ​ 155,536 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Stock options and other ​ 2,226 ​ ​ Denominator for diluted earnings per share-adjusted weighted average shares outstanding ​ 159,299 ​ ​ 155,536 Basic earnings (loss) per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) from continuing operations attributable to the Company ​ $ 2.09 ​ $ (3.69) Loss from discontinued operations ​ ​ ​ ​ Net earnings (loss) ​ $ 2.09 ​ $ (3.69) Diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) from continuing operations attributable to the Company ​ $ 2.06 ​ $ (3.69) Loss from discontinued operations ​ ​ ​ ​ Net earnings (loss) ​ $ 2.06 ​ $ (3.69) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ 2020 2019 Numerator: ​ ​ ​ Net earnings (loss) attributable to the Company ​ $ 278 ​ $ (430) Denominator (in thousands): ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share-weighted average shares outstanding ​ 156,650 ​ 155,083 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Stock options and other ​ 1,788 ​ ​ Denominator for diluted earnings per share-adjusted weighted average shares outstanding ​ 158,438 ​ 155,083 Basic earnings (loss) per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) from continuing operations attributable to the Company ​ $ 1.77 ​ $ (2.77) Loss from discontinued operations ​ ​ ​ (0.01) Net earnings (loss) ​ $ 1.77 ​ $ (2.78) Diluted earnings (loss) per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) from continuing operations attributable to the Company ​ $ 1.76 ​ $ (2.77) Loss from discontinued operations ​ ​ ​ (0.01) Net earnings (loss) ​ $ 1.76 ​ $ (2.78)

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information
Income taxes paid (received) in cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ ​ 2020 2019 U.S. ​ $ 1 ​ $ — ​ Non-U.S. ​ 53 ​ 81 ​ Total income taxes paid in cash ​ $ 54 ​ $ 81 ​

Segment Information - Reportabl

Segment Information - Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net sales:
Net sales	$ 1,616		$ 1,670	$ 4,595	$ 5,063
Segment operating profit:
Segment operating profit	204		206	478	653
Items excluded from segment operating profit:
Retained corporate costs and other	(35)		(21)	(98)	(83)
Gain on sale of ANZ businesses	280			280
Charge for goodwill impairment		$ 0	(595)		(595)
Restructuring, asset impairment and other charges	(9)		(32)	(80)	(73)
Charge for deconsolidation of Paddock				(14)
Pension settlement charges			(11)	(8)	(13)
Strategic transaction costs	(3)			(7)
Interest expense, net	(61)		(83)	(212)	(215)
Earnings from continuing operations before income taxes
Earnings (loss) from continuing operations before income taxes	376		(536)	339	(326)
Reportable Segment Totals
Net sales:
Net sales	1,583		1,634	4,498	4,949
Americas
Net sales:
Net sales	887		918	2,442	2,733
Segment operating profit:
Segment operating profit	113		123	268	380
Europe
Net sales:
Net sales	644		588	1,775	1,834
Segment operating profit:
Segment operating profit	88		79	191	248
Asia Pacific
Net sales:
Net sales	52		128	281	382
Segment operating profit:
Segment operating profit	3		4	19	25
Other
Net sales:
Net sales	$ 33		$ 36	$ 97	$ 114

Segment Information (Details)

Segment Information (Details) - segment	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting Information
Number of reportable segments	3
Number of operating segments	3
Australia And New Zealand ("ANZ") business | Asia Pacific | Discontinued Operations, Disposed of by Sale
Segment Reporting Information
Percentage of net sales		85.00%

Segment Information - Total Ass

Segment Information - Total Assets (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Assets
Total assets:	$ 8,624	$ 9,610	$ 9,548
Reportable Segment Totals
Assets
Total assets:	7,970	9,085	8,989
Americas
Assets
Total assets:	4,663	5,264	5,241
Europe
Assets
Total assets:	3,307	3,127	3,053
Asia Pacific
Assets
Total assets:		694	695
Other
Assets
Total assets:	$ 654	$ 525	$ 559

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue
Net sales	$ 1,616	$ 1,670	$ 4,595	$ 5,063
Reportable Segment Totals
Disaggregation of Revenue
Net sales	1,583	1,634	4,498	4,949
Americas
Disaggregation of Revenue
Net sales	887	918	2,442	2,733
Europe
Disaggregation of Revenue
Net sales	644	588	1,775	1,834
Asia Pacific
Disaggregation of Revenue
Net sales	52	128	281	382
Other
Disaggregation of Revenue
Net sales	33	36	97	114
Alcoholic beverages (beer, wine, spirits)
Disaggregation of Revenue
Net sales	1,029	1,099	2,946	3,354
Alcoholic beverages (beer, wine, spirits) | Americas
Disaggregation of Revenue
Net sales	537	591	1,471	1,744
Alcoholic beverages (beer, wine, spirits) | Europe
Disaggregation of Revenue
Net sales	452	409	1,258	1,315
Alcoholic beverages (beer, wine, spirits) | Asia Pacific
Disaggregation of Revenue
Net sales	40	99	217	295
Food and other
Disaggregation of Revenue
Net sales	366	327	1,007	946
Food and other | Americas
Disaggregation of Revenue
Net sales	222	192	609	564
Food and other | Europe
Disaggregation of Revenue
Net sales	138	119	360	331
Food and other | Asia Pacific
Disaggregation of Revenue
Net sales	6	16	38	51
Non-alcoholic beverages
Disaggregation of Revenue
Net sales	188	208	545	649
Non-alcoholic beverages | Americas
Disaggregation of Revenue
Net sales	128	135	362	425
Non-alcoholic beverages | Europe
Disaggregation of Revenue
Net sales	54	60	157	188
Non-alcoholic beverages | Asia Pacific
Disaggregation of Revenue
Net sales	$ 6	$ 13	$ 26	$ 36

Credit Losses (Details)

Credit Losses (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Credit Losses
Accounts receivable, net	$ 724	$ 621	$ 968
Allowance for doubtful accounts	$ 33	$ 32	$ 31

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Inventories
Finished goods	$ 625	$ 872	$ 836
Raw materials	121	128	134
Operating supplies	36	45	45
Inventories	$ 782	$ 1,045	$ 1,015

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Changes in the carrying amount of goodwill
Goodwill.		$ 1,847	$ 1,934	$ 1,893
Approximate difference between the BEV and carrying value of reporting unit	2.00%
Europe
Changes in the carrying amount of goodwill
Goodwill.		900
Americas
Changes in the carrying amount of goodwill
Goodwill.		595	595	595
North America
Changes in the carrying amount of goodwill
Goodwill.		400
Latin America
Changes in the carrying amount of goodwill
Goodwill.		$ 500
Asia Pacific
Changes in the carrying amount of goodwill
Goodwill.			0	0
Accumulated impairment losses			$ 1,135	$ 1,135

Derivative Instruments - Deriva

Derivative Instruments - Derivatives and Hedges (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Commodity forward contracts | Cash Flow Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI			$ 1	$ 1
Commodity forward contracts | Cash Flow Hedges | Maximum
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI	$ 1
Foreign exchange risk | Cash Flow Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI	9			(19)
Foreign exchange risk | Cash Flow Hedges | Maximum
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI			(1)
Cross-currency swaps | Cash Flow Hedges
Derivatives and Hedges
Derivative cash outflow recognized in financing activities section of Consolidated Cash Flows	3	$ 3
Cross-currency swaps | Net investment hedges
Derivatives and Hedges
Derivative cash outflow recognized in financing activities section of Consolidated Cash Flows	5
Interest rate risk | Cash Flow Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI			$ (1)	$ (2)
Interest rate risk | Cash Flow Hedges | Maximum
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI	$ (1)

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet Classification (Details) € in Millions, $ in Millions	Sep. 30, 2020USD ($)	Sep. 30, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)
Derivatives, Fair Value
Total asset derivatives	$ 30		$ 38		$ 63
Total liability derivatives	100		24		4
Current derivative asset	16		8		34
Current derivative liability	13				3
Noncurrent derivative asset	14		30		29
Noncurrent derivative liability	87		24		1
Derivatives designated as hedging instruments
Derivatives, Fair Value
Total asset derivatives	27		36		61
Total liability derivatives	94		24		1
Derivatives designated as hedging instruments | Commodity forward contracts
Derivatives, Fair Value
Notional amount	1.5		2.1		2.1
Total asset derivatives			1		1
Derivatives designated as hedging instruments | Interest rate swaps - fair value hedges
Derivatives, Fair Value
Notional amount | €		€ 725		€ 725		€ 725
Total asset derivatives	16		8		17
Total liability derivatives			2
Derivatives designated as hedging instruments | Cash flow hedges of foreign exchange risk
Derivatives, Fair Value
Notional amount	1,100		1,100		1,200
Total asset derivatives	9		25		36
Total liability derivatives	67		21
Derivatives designated as hedging instruments | Interest rate swaps - cash flow hedges
Derivatives, Fair Value
Notional amount	0		105		180
Total liability derivatives			1		1
Derivatives not designated as hedging instruments | Foreign exchange derivative contracts
Derivatives, Fair Value
Notional amount	247		283		169
Total asset derivatives	3		2		2
Total liability derivatives	6				3
Net investment hedges | Derivatives designated as hedging instruments
Derivatives, Fair Value
Notional amount | €		€ 311		€ 160		€ 160
Total asset derivatives	2		$ 2		$ 7
Total liability derivatives	$ 27

Derivative Instruments - Effect

Derivative Instruments - Effects of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivatives not designated as hedging instruments | Foreign exchange derivative contracts
Derivatives and Hedges
Amount of Gain (Loss) Recognized in Other income (expense), net	$ 3	$ 1	$ 13	$ 8
Derivatives designated as hedging instruments
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(86)	(45)	(81)	(38)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(78)	(52)	(67)	(38)
Derivatives designated as hedging instruments | Net Investment Hedges | Interest expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(26)	8	(29)	13
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	1	2	4	5
Derivatives designated as hedging instruments | Commodity forward contracts | Cash Flow Hedges | Cost of goods sold
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	1	(1)	(1)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	1		1	(1)
Derivatives designated as hedging instruments | Foreign exchange risk | Cash Flow Hedges | Other expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(61)	(52)	(51)	(50)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ (80)	$ (54)	(71)	(42)
Derivatives designated as hedging instruments | Interest rate risk | Cash Flow Hedges | Interest expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)				$ (1)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)			$ (1)

Restructuring Accruals (Details

Restructuring Accruals (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring accrual
Beginning balance, restructuring reserve	$ 47	$ 70	$ 45	$ 69
Charges	5	24	72	56
Write-down of assets to net realizable value	(3)	(17)	(43)	(17)
Net cash paid, principally severance and related benefits	(10)	(12)	(32)	(41)
Other, including foreign exchange translation	(4)	(1)	(7)	(3)
Ending balance, restructuring reserve	35	64	35	64
Restructuring, Additional Information
Carrying value of impaired assets	1		1
Selling and administrative expense
Restructuring accrual
Charges				2
Other expense, net
Restructuring accrual
Charges				54
Employee Costs
Restructuring accrual
Beginning balance, restructuring reserve	30	50	32	47
Charges	2	5	23	32
Net cash paid, principally severance and related benefits	(10)	(6)	(31)	(30)
Other, including foreign exchange translation			(2)
Ending balance, restructuring reserve	22	49	22	49
Asset Impairment
Restructuring accrual
Charges	3	17	43	17
Write-down of assets to net realizable value	(3)	(17)	(43)	(17)
Other Exit Costs
Restructuring accrual
Beginning balance, restructuring reserve	17	20	13	22
Charges		2	6	7
Net cash paid, principally severance and related benefits		(6)	(1)	(11)
Other, including foreign exchange translation	(4)	(1)	(5)	(3)
Ending balance, restructuring reserve	$ 13	$ 15	$ 13	$ 15

Pension Benefit Plans (Details)

Pension Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
U.S.
Components of net periodic pension cost
Service cost	$ 3	$ 3	$ 9	$ 9
Interest cost	12	15	37	45
Expected asset return	(19)	(22)	(60)	(65)
Amortization:
Amortization of actuarial loss	14	10	42	30
Net periodic pension cost	10	6	28	19
Non-U.S.
Components of net periodic pension cost
Service cost	3	3	10	9
Interest cost	6	7	19	22
Expected asset return	(12)	(11)	(36)	(33)
Amortization:
Amortization of actuarial loss	3	3	9	7
Net periodic pension cost		$ 2	2	$ 5
Pension Benefit Plans | Canadian Pension Plans
Amortization:
Settlements			$ 8
Other Post-retirement Benefits | U.S.
Amortization:
Decrease in postretirement benefit obligation	$ 32

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 30, 2020
Income Taxes
Statutory U.S. Federal tax rate (as a percent)	21.00%

Debt (Details)

Debt (Details) $ / shares in Units, € in Millions, $ in Millions	1 Months Ended				3 Months Ended	9 Months Ended
	Aug. 31, 2020USD ($)	May 31, 2020USD ($)	Nov. 30, 2019EUR (€)	Jul. 31, 2019EUR (€)	Sep. 30, 2020USD ($)item$ / shares	Sep. 30, 2020USD ($)itemagreement$ / shares	Dec. 31, 2021item	Jun. 30, 2021item	Sep. 30, 2020EUR (€)item	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)
Debt Instrument
Total long-term debt					$ 5,296	$ 5,296				$ 5,484		$ 5,814
Less amounts due within one year					133	133				49		302
Long-term debt					$ 5,163	$ 5,163				5,435		5,512
Number financial maintenance covenants | agreement						1
Maximum Leverage Ratio may increase | item						0.5
Maximum
Debt Instrument
Leverage Ratio | item					5	5			5
Maximum Borrowing Capacity					$ 3,000	$ 3,000
Maximum | Forecast
Debt Instrument
Leverage Ratio | item							4.50	4.75
Secured Credit Agreement
Debt Instrument
Unused Credit					$ 1,295	$ 1,295
Weighted average interest rate (as a percent)					1.63%	1.63%			1.63%
Secured Credit Agreement | Minimum
Debt Instrument
Interest rate margin, Eurocurrency Rate loans (as a percent)					1.00%	1.00%			1.00%
Interest rate margin, Base Rate loans (as a percent)						0.00%
Secured Credit Agreement | Maximum
Debt Instrument
Interest rate margin, Eurocurrency Rate loans (as a percent)					1.50%	1.50%			1.50%
Interest rate margin, Base Rate loans (as a percent)						0.50%
Revolving Loans
Debt Instrument
Total long-term debt					$ 195	$ 195						265
Term Loan A
Debt Instrument
Total long-term debt					1,157	1,157				1,477		1,496
Face Value					1,500	1,500
Net proceeds, after deducting debt issuance costs						1,157
Other secured debt
Debt Instrument
Total long-term debt					109	109				333		454
Debt redeemed		$ 105
Senior Notes
Debt Instrument
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees					$ 38	$ 38
Senior Notes 6.75%, due 2020 (500 million EUR)
Debt Instrument
Total long-term debt												273	€ 500
Interest rate, stated percentage			6.75%	6.75%	6.75%	6.75%			6.75%
Debt redeemed | €			€ 250	€ 250
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees					$ 24	$ 24
Senior Notes 4.875%, due 2021 (0 million EUR at September 30, 2020, 118 million EUR December 31, 2019 and 330 million EUR at September 30, 2019)
Debt Instrument
Total long-term debt									€ 0	132	€ 118	360	330
Interest rate, stated percentage		4.875%	4.875%		4.875%	4.875%			4.875%
Debt redeemed		$ 130	€ 212
Senior Notes 5.00%, due 2022
Debt Instrument
Total long-term debt										497		498
Interest rate, stated percentage	5.00%	5.00%			5.00%	5.00%			5.00%
Debt redeemed	$ 81	$ 419
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees	$ 6
Senior Notes 4.00%, due 2023
Debt Instrument
Total long-term debt					$ 307	$ 307				307		307
Interest rate, stated percentage					4.00%	4.00%			4.00%
Fair values of fixed rate debt obligations
Principal Amount					$ 310	$ 310
Indicated Market Price (in dollars per share) | $ / shares					$ 101.71	$ 101.71
Fair Value					$ 315	$ 315
Senior Notes 5.875%, due 2023
Debt Instrument
Total long-term debt					$ 691	$ 691				689		690
Interest rate, stated percentage					5.875%	5.875%			5.875%
Fair values of fixed rate debt obligations
Principal Amount					$ 700	$ 700
Indicated Market Price (in dollars per share) | $ / shares					$ 105.64	$ 105.64
Fair Value					$ 739	$ 739
Senior Notes 3.125%, due 2024 (725 million EUR)
Debt Instrument
Total long-term debt					$ 873	$ 873			€ 725	824	725	818	€ 725
Interest rate, stated percentage					3.125%	3.125%			3.125%
Fair values of fixed rate debt obligations
Principal Amount					$ 851	$ 851
Indicated Market Price (in dollars per share) | $ / shares					$ 101.22	$ 101.22
Fair Value					$ 861	$ 861
Senior Notes 6.375%, due 2025
Debt Instrument
Total long-term debt					$ 296	$ 296				295		296
Interest rate, stated percentage					6.375%	6.375%			6.375%
Fair values of fixed rate debt obligations
Principal Amount					$ 300	$ 300
Indicated Market Price (in dollars per share) | $ / shares					$ 109.17	$ 109.17
Fair Value					$ 328	$ 328
Senior Notes, 5.375% due 2025
Debt Instrument
Total long-term debt					$ 298	$ 298				297		298
Interest rate, stated percentage					5.375%	5.375%			5.375%
Fair values of fixed rate debt obligations
Principal Amount					$ 300	$ 300
Indicated Market Price (in dollars per share) | $ / shares					$ 106.35	$ 106.35
Fair Value					$ 319	$ 319
Senior Notes 2.875%, due 2025 (500 million EUR)
Debt Instrument
Total long-term debt			€ 500		$ 579	$ 579			€ 500	552	€ 500
Interest rate, stated percentage			2.875%		2.875%	2.875%			2.875%
Net proceeds, after deducting debt issuance costs | €			€ 492
Fair values of fixed rate debt obligations
Principal Amount					$ 587	$ 587
Indicated Market Price (in dollars per share) | $ / shares					$ 99.19	$ 99.19
Fair Value					$ 582	$ 582
Senior Notes 6.625%, due 2027
Debt Instrument
Total long-term debt		$ 700			$ 691	$ 691
Interest rate, stated percentage		6.625%			6.625%	6.625%			6.625%
Net proceeds, after deducting debt issuance costs		$ 690
Fair values of fixed rate debt obligations
Principal Amount					$ 700	$ 700
Indicated Market Price (in dollars per share) | $ / shares					$ 108.48	$ 108.48
Fair Value					$ 759	$ 759
Finance leases
Debt Instrument
Total long-term debt					94	94				70		43
Other
Debt Instrument
Total long-term debt					6	6				$ 11		$ 16
Revolving Credit Facility
Debt Instrument
Total long-term debt					300	$ 300
Additional default interest rate per annum applied to all obligations owed under the Agreement						2.00%
Revolving Credit Facility | Minimum
Debt Instrument
Facility fee payable (as a percent)						0.20%
Revolving Credit Facility | Maximum
Debt Instrument
Facility fee payable (as a percent)						0.30%
Multicurrency Revolving Credit Facility
Debt Instrument
Total long-term debt					$ 1,200	$ 1,200

Contingencies - Asbestos (Detai

Contingencies - Asbestos (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Sep. 30, 2020USD ($)lawsuit	Dec. 31, 2019USD ($)	Jan. 06, 2020USD ($)	Dec. 31, 1993USD ($)
Loss contingencies
Sale of goods containing asbestos from 1948 to 1958		$ 40,000,000
Liability from deconsolidation		471,000,000
Charge for deconsolidation of Paddock		14,000,000
Deconsolidation investing outflow		$ 47,000,000
Approximate number of claims disposed | lawsuit		401,200
Number of pending plaintiffs and claimants | lawsuit		850
Average indemnity payment per claim		$ 10,200
Asbestos-related cash payments			$ 151,000,000
Cash payments per claim disposed including legal costs			129,000
Asbestos-related liability, total amount accrued beginning in 1993 through current reporting period before insurance recoveries		$ 5,000,000,000			$ 975,000,000
Accrual of asbestos related liability			486,000,000
Asbestos related charges			$ 35,000,000
Paddock
Loss contingencies
Cash				$ 47,000,000
Liability from deconsolidation				$ 471,000,000
Charge for deconsolidation of Paddock	$ 14,000,000
Deconsolidation investing outflow	$ 47,000,000

Share Owners' Equity (Details)

Share Owners' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Increase (Decrease) in Share Owners' Equity
Balance	$ 42	$ 1,090	$ 564	$ 900
Issuance of common stock				$ 2
Issuance of common stock (in shares)				100,000
Reissuance of common stock	$ 2	$ 2	$ 7	$ 7
Reissuance of common stock (in shares)	200,000	10,000	700,000	200,000
Treasury shares purchased				$ (38)
Treasury shares purchased (in shares)				2,100,000
Stock compensation	$ 3	$ 4	$ 8	$ 15
Stock compensation (in shares)	100,000	10,000	900,000	1,700,000
Net earnings (loss)	$ 335	$ (567)	$ 289	$ (413)
Other comprehensive income (loss)	(117)	(86)	(592)	(17)
Dividends declared		(7)	(8)	(15)
Other			(3)	(5)
Balance	$ 265	$ 436	$ 265	$ 436
Authorization of common stock
Shares of common stock issued (including treasury shares)	250,000,000	250,000,000	250,000,000	250,000,000	250,000,000
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Shares of common stock issued (including treasury shares)	189,302,000	188,442,000	189,302,000	188,442,000	188,447,000
Treasury shares	32,136,000	32,812,000	32,136,000	32,812,000	32,573,000
Common Stock
Increase (Decrease) in Share Owners' Equity
Balance	$ 2	$ 2	$ 2	$ 2
Balance	2	2	2	2
Capital in Excess of Par Value
Increase (Decrease) in Share Owners' Equity
Balance	3,128	3,136	3,130	3,124
Issuance of common stock				2
Reissuance of common stock	(3)	(1)	(10)	(2)
Stock compensation	3	4	8	15
Balance	3,128	3,139	3,128	3,139
Treasury Stock
Increase (Decrease) in Share Owners' Equity
Balance	(724)	(742)	(733)	(705)
Reissuance of common stock	5	3	17	9
Treasury shares purchased				(38)
Other			(3)	(5)
Balance	(719)	(739)	(719)	(739)
Retained Earnings (Loss)
Increase (Decrease) in Share Owners' Equity
Balance	(147)	470	(89)	333
Net earnings (loss)	328	(575)	278	(430)
Dividends declared		(7)	(8)	(15)
Balance	181	(112)	181	(112)
Accumulated Other Comprehensive Loss.
Increase (Decrease) in Share Owners' Equity
Balance	(2,308)	(1,891)	(1,843)	(1,968)
Other comprehensive income (loss)	(117)	(64)	(582)	13
Balance	(2,425)	(1,955)	(2,425)	(1,955)
Non-controlling Interests
Increase (Decrease) in Share Owners' Equity
Balance	91	115	97	114
Net earnings (loss)	7	8	11	17
Other comprehensive income (loss)		(22)	(10)	(30)
Balance	$ 98	$ 101	$ 98	$ 101

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Other comprehensive income (loss)	$ (117)	$ (86)	$ (592)	$ (17)
Net Effect of Exchange Rate Fluctuations
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,321)	(830)	(813)	(889)
Change before reclassifications	1	(96)	(507)	(37)
Other comprehensive income (loss)	(148)	(96)	(656)	(37)
Balance at end of the period	(1,469)	(926)	(1,469)	(926)
Change in Certain Derivative Instruments
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(21)	(22)	(14)	(18)
Change before reclassifications	(88)	(50)	(81)	(46)
Amounts reclassified from accumulated other comprehensive income (loss)	78	52	67	38
Translation effect	(1)	2	(3)	5
Tax effect	(1)	1	(2)	4
Other comprehensive income (loss)	(11)	5	(18)	1
Balance at end of the period	(32)	(17)	(32)	(17)
Employee Benefit Plans
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(966)	(1,039)	(1,016)	(1,061)
Change before reclassifications	30	8	35	6
Amounts reclassified from accumulated other comprehensive income (loss)	17	12	51	37
Translation effect	(9)	7	4	6
Tax effect			(2)
Other comprehensive income (loss)	42	27	92	49
Balance at end of the period	(924)	(1,012)	(924)	(1,012)
Accumulated Other Comprehensive Loss.
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(2,308)	(1,891)	(1,843)	(1,968)
Change before reclassifications	(57)	(138)	(553)	(77)
Amounts reclassified from accumulated other comprehensive income (loss)	95	64	118	75
Translation effect	(10)	9	1	11
Tax effect	(1)	1	(4)	4
Other comprehensive income (loss)	(117)	(64)	(582)	13
Balance at end of the period	(2,425)	$ (1,955)	(2,425)	$ (1,955)
Australia And New Zealand ("ANZ") business | Net Effect of Exchange Rate Fluctuations
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Amounts reclassified from accumulated other comprehensive income (loss)	(149)		(149)
Australia And New Zealand ("ANZ") business | Change in Certain Derivative Instruments
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Amounts reclassified from accumulated other comprehensive income (loss)	1		1
Australia And New Zealand ("ANZ") business | Employee Benefit Plans
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Amounts reclassified from accumulated other comprehensive income (loss)	4		4
Australia And New Zealand ("ANZ") business | Accumulated Other Comprehensive Loss.
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Amounts reclassified from accumulated other comprehensive income (loss)	$ (144)		$ (144)

Other Income (Expense), Net (De

Other Income (Expense), Net (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Income (Expense), Net
Impairment of goodwill (see Note 5)		$ 0	$ (595)		$ (595)
Gain on sale of ANZ businesses	$ 280			$ 280
Restructuring, asset impairment and other charges	(9)		(31)	(80)	(69)
Pension settlement charges			(11)	(8)	(13)
Intangible amortization expense	(8)		(11)	(23)	(31)
Strategic transaction costs	(3)			(7)
Foreign currency exchange loss	(1)		(3)	(3)	(6)
Royalty income	2		3	8	10
Charge for deconsolidation of Paddock (see Note 11)				(14)
Other income (expense), net	(11)		3	(6)	(5)
Other Income (expense), net	$ 250		$ (645)	$ 147	$ (709)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net earnings (loss) attributable to the Company	$ 328	$ (575)	$ 278	$ (430)
Denominator (in thousands):
Denominator for basic earnings per share - weighted average shares outstanding (in shares)	157,073,000	155,536,000	156,650,000	155,083,000
Effect of dilutive securities:
Stock options and other (in shares)	2,226,000		1,788,000
Denominator for diluted earnings per share - adjusted weighted average shares outstanding (in shares)	159,299,000	155,536,000	158,438,000	155,083,000
Basic earnings per share:
Net earnings (loss) from continuing operations attributable to the Company (in dollars per share)	$ 2.09	$ (3.69)	$ 1.77	$ (2.77)
Loss from discontinued operations (in dollars per share)				(0.01)
Net earnings (loss) (in dollars per share)	2.09	(3.69)	1.77	(2.78)
Diluted earnings per share:
Net earnings (loss) from continuing operations attributable to the Company (in dollars per share)	2.06	(3.69)	1.76	(2.77)
Loss from discontinued operations (in dollars per share)				(0.01)
Net earnings (loss) (in dollars per share)	$ 2.06	$ (3.69)	$ 1.76	$ (2.78)
Weighted average shares of common stock attributable to options not included in diluted earnings per share (in shares)	1,564,207	2,446,932	2,616,538	1,848,974

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Income taxes paid in cash	$ 54	$ 81
Interest paid in cash	196	224
Cash interest included in note repurchase premiums	41	23
Amount of receivables sold	426	369	$ 539
Change in cash from operating activities from factoring program	113	231
U.S.
Income taxes paid in cash	1
Non-U.S.
Income taxes paid in cash	$ 53	$ 81

Business Combinations (Details)

Business Combinations (Details) $ in Millions	Jun. 28, 2019USD ($)PlantT	Jun. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Measurement period adjustments
Cash paid for acquisition			$ 157
Nueva Fbrica Nacional de Vidrio, S. de R.L. de C.V. ("Nueva Fanal")
Measurement period adjustments
Cash paid for acquisition	$ 188
Number of furnaces in the Nueva Fanal facility | Plant	3
Tonnage of glass containers produced by Nueva Fbrica Nacional de Vidrio, S. de R.L. de C.V. ("Nueva Fanal") | T	240,000
Acquired goodwill		$ 20
Aquired intangible assets		3
Pro forma financial information		$ 0

Divestiture (Details)

Divestiture (Details) $ in Millions, $ in Millions	Jul. 31, 2020USD ($)	Jul. 31, 2020AUD ($)	Sep. 30, 2020USD ($)	Jul. 31, 2020USD ($)	Sep. 30, 2020USD ($)
Divestiture
Gain on sale of ANZ businesses			$ 280		$ 280
Australia And New Zealand ("ANZ") business | Discontinued Operations, Disposed of by Sale
Divestiture
Gross proceeds	$ 677	$ 947
Sale and related sale lease-back net proceeds		$ 214
Percentage of proceeds were received at time of closing	95.00%	95.00%
Time in which the remaining balance to be received	12 months	12 months
Pretax income				$ 6
Australia And New Zealand ("ANZ") business | Other operating income (expense) | Discontinued Operations, Disposed of by Sale
Divestiture
Gain on sale of ANZ businesses	$ 280