O-I Glass (OI) 10-Q 30 Oct 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2024 shares
Cover
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Securities Act 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, par value $.01 per share
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	154,646,788
Entity Central Index Key	0000812074
Amendment Flag	false
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED RESULTS

CONDENSED CONSOLIDATED RESULTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,679	$ 1,743	$ 5,002	$ 5,464
Revenue, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Cost of goods sold	$ (1,464)	$ (1,379)	$ (4,165)	$ (4,199)
Gross profit	215	364	837	1,265
Selling and administrative expense	(103)	(134)	(337)	(424)
Research, development and engineering expense	(20)	(24)	(62)	(66)
Interest expense, net	(87)	(78)	(252)	(263)
Equity earnings	20	40	75	100
Other expense, net	(82)	(86)	(98)	(106)
Earnings (loss) before income taxes	(57)	82	163	506
Provision for income taxes	(19)	(26)	(102)	(127)
Net earnings (loss)	(76)	56	61	379
Net earnings attributable to non-controlling interests	(4)	(5)	(13)	(12)
Net earnings (loss) attributable to the Company	$ (80)	$ 51	$ 48	$ 367
Basic earnings per share:
Net earnings (loss) attributable to the Company (in dollars per share)	$ (0.52)	$ 0.33	$ 0.31	$ 2.37
Weighted average shares outstanding (thousands) (in shares)	154,619	154,702	154,724	154,796
Diluted earnings per share:
Net earnings (loss) attributable to the Company (in dollars per share)	$ (0.52)	$ 0.32	$ 0.31	$ 2.31
Weighted average diluted shares outstanding (thousands) (in shares)	154,619	159,285	157,537	159,236

CONDENSED CONSOLIDATED COMPREHE

CONDENSED CONSOLIDATED COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
CONDENSED CONSOLIDATED COMPREHENSIVE INCOME (LOSS)
Net earnings (loss)	$ (76)	$ 56	$ 61	$ 379
Other comprehensive income (loss):
Foreign currency translation adjustments	(41)	(104)	(293)	211
Pension and other postretirement benefit adjustments, net of tax	(7)	9	5	6
Change in fair value of derivative instruments, net of tax	(20)	10	(1)	(22)
Other comprehensive income (loss)	(68)	(85)	(289)	195
Total comprehensive income (loss)	(144)	(29)	(228)	574
Comprehensive (income) loss attributable to non-controlling interests	(5)	(6)	(7)	(19)
Comprehensive income (loss) attributable to the Company	$ (149)	$ (35)	$ (235)	$ 555

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 755	$ 913	$ 792
Trade receivables, net of allowance of $32 million, $30 million, and $33 million at September 30, 2024, December 31, 2023 and September 30, 2023	794	671	766
Inventories	1,050	1,071	1,098
Prepaid expenses and other current assets	223	229	243
Total current assets	2,822	2,884	2,899
Property, plant and equipment, net	3,498	3,555	3,255
Goodwill	1,408	1,473	1,860
Intangibles, net	210	254	257
Other assets	1,434	1,503	1,464
Total assets	9,372	9,669	9,735
Current liabilities:
Accounts payable	1,092	1,437	1,250
Short-term loans and long-term debt due within one year	537	248	159
Other liabilities	663	661	661
Total current liabilities	2,292	2,346	2,070
Long-term debt	4,709	4,698	4,754
Other long-term liabilities	890	881	798
Share owners' equity	1,481	1,744	2,113
Total liabilities and share owners' equity	$ 9,372	$ 9,669	$ 9,735

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
Trade receivables allowance	$ 32	$ 30	$ 33

CONDENSED CONSOLIDATED CASH FLO

CONDENSED CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net earnings	$ (76)	$ 61	$ 379
Non-cash charges
Depreciation and amortization		377	369
Pension expense		24	22
Stock-based compensation expense		9	36
Restructuring, asset impairment and related charges	83	83	78
Legacy environmental charge	1	11
Gain on sale of miscellaneous assets	(1)	(1)
Pension contributions		(13)	(24)
Cash paid for restructuring activities	(9)	(24)	(21)
Change in components of working capital		(359)	(416)
Other, net (a)		3	14
Cash provided by operating activities		171	437
Cash flows from investing activities:
Cash payments for property, plant and equipment		(509)	(465)
Contributions and advances to joint ventures		(1)	(9)
Net cash proceeds on disposal of other businesses and misc. assets		19	11
Net cash proceeds (payments) from hedging activities		(15)	6
Cash utilized in investing activities		(506)	(457)
Cash flows from financing activities:
Additions to long-term debt		1,096	1,332
Repayments of long-term debt		(923)	(1,258)
Increase (decrease) in short-term loans		77	52
Payment of finance fees		(13)	(22)
Shares repurchased		(30)	(30)
Net cash payments for hedging activity			(40)
Distributions to non-controlling interests		(9)	(3)
Other, net (b)		(14)
Cash provided by financing activities		184	31
Effect of exchange rate fluctuations on cash		(7)	8
Change in cash		(158)	19
Cash at beginning of period		913	773
Cash at end of period	$ 755	$ 755	$ 792

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Information
Segment Information	1. Segment Information The Company has two reportable segments and two operating segments based on its geographic locations: the Americas and Europe. These segments are aligned with the Company’s internal approach to managing, reporting, and evaluating performance of its global glass operations. Certain assets and activities not directly related to one of the segments or to glass manufacturing are reported within Retained corporate costs and other. These include licensing, equipment manufacturing, global engineering, certain equity investments and certain minor businesses in the Asia Pacific region. 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 before interest income, interest expense, and provision for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations and other adjustments, as well as certain retained corporate costs. 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 accounting principles generally accepted in the United States (“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 used by other companies. Financial information for the three and nine months ended September 30, 2024 and 2023 regarding the Company’s reportable segments is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ 2024 2023 2024 2023 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 940 ​ $ 948 ​ $ 2,693 ​ $ 2,943 ​ Europe ​ 706 ​ 766 ​ 2,216 ​ ​ 2,428 ​ Reportable segment totals ​ 1,646 ​ 1,714 ​ 4,909 ​ 5,371 ​ Other ​ 33 ​ ​ 29 ​ ​ 93 ​ ​ 93 ​ Net sales ​ $ 1,679 ​ $ 1,743 ​ $ 5,002 ​ $ 5,464 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2024 2023 2024 2023 Earnings (loss) before income taxes ​ $ (57) ​ $ 82 ​ $ 163 ​ $ 506 ​ Items excluded from segment operating profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained corporate costs and other ​ ​ 31 ​ ​ 60 ​ ​ 104 ​ ​ 175 ​ Restructuring, asset impairment and other charges ​ ​ 83 ​ ​ 81 ​ ​ 83 ​ ​ 81 ​ Legacy environmental charge ​ ​ 1 ​ ​ ​ ​ ​ 11 ​ ​ ​ ​ Gain on sale of miscellaneous assets ​ ​ (1) ​ ​ ​ ​ ​ (1) ​ ​ ​ ​ Interest expense, net ​ ​ 87 ​ ​ 78 ​ ​ 252 ​ ​ 263 ​ Segment operating profit ​ $ 144 ​ $ 301 ​ $ 612 ​ $ 1,025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 88 ​ $ 116 ​ $ 296 ​ $ 419 ​ Europe ​ ​ 56 ​ ​ 185 ​ ​ 316 ​ ​ 606 ​ Reportable segment totals ​ $ 144 ​ $ 301 ​ $ 612 ​ $ 1,025 ​ ​ Financial information regarding the Company’s total assets is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ 2024 ​ 2023 ​ 2023 ​ Total assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas $ 4,882 $ 5,218 $ 5,474 ​ Europe ​ 3,927 ​ 3,949 ​ 3,709 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable segment totals ​ 8,809 ​ 9,167 ​ 9,183 ​ Other ​ 563 ​ ​ 502 ​ ​ 552 ​ Consolidated totals $ 9,372 $ 9,669 $ 9,735 ​ ​

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
Revenue
Revenue	2. Revenue Revenue is recognized at a 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. Amounts billed to customers related to shipping and handling or other pass-through items are included in net sales in the Condensed Consolidated Results of Operations. 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, 2024 and September 30, 2023, 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 Sheets. For the three- and nine-month periods ended September 30, 2024 and September 30, 2023, revenue recognized from prior periods was not material. ​ The following tables for the three months ended September 30, 2024 and 2023 disaggregate the Company’s revenue by customer end use: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2024 ​ Americas ​ Europe ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 530 $ 501 $ 1,031 Food and other ​ 226 ​ 128 ​ 354 Non-alcoholic beverages ​ 184 ​ 77 ​ 261 Reportable segment totals ​ $ 940 ​ $ 706 ​ $ 1,646 Other ​ ​ ​ ​ ​ ​ ​ 33 Net sales ​ ​ ​ ​ ​ ​ $ 1,679 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2023 ​ Americas ​ Europe ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 557 ​ $ 565 ​ $ 1,122 Food and other ​ 208 ​ ​ 128 ​ 336 Non-alcoholic beverages ​ 183 ​ ​ 73 ​ 256 Reportable segment totals ​ $ 948 ​ $ 766 ​ $ 1,714 Other ​ ​ ​ ​ ​ ​ ​ 29 Net sales ​ ​ ​ ​ ​ ​ $ 1,743 ​ ​ ​ ​ ​ ​ ​ ​ The following tables for the nine months ended September 30, 2024 and 2023 disaggregate the Company’s revenue by customer end use: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2024 ​ Americas ​ Europe ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 1,492 $ 1,618 ​ $ 3,110 Food and other ​ 660 ​ 363 ​ 1,023 Non-alcoholic beverages ​ 541 ​ 235 ​ 776 Reportable segment totals ​ $ 2,693 ​ $ 2,216 ​ $ 4,909 Other ​ ​ ​ ​ ​ ​ ​ 93 Net sales ​ ​ ​ ​ ​ ​ $ 5,002 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ Americas ​ Europe ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 1,752 ​ $ 1,816 ​ $ 3,568 Food and other ​ 651 ​ ​ 384 ​ 1,035 Non-alcoholic beverages ​ 540 ​ ​ 228 ​ 768 Reportable segment totals ​ $ 2,943 ​ $ 2,428 ​ $ 5,371 Other ​ ​ ​ ​ ​ ​ ​ 93 Net sales ​ ​ ​ ​ ​ ​ $ 5,464 ​

Credit Losses

Credit Losses	9 Months Ended
	Sep. 30, 2024
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, 2024 and September 30, 2023, the Company reported $794 million and $766 million of accounts receivable, respectively, net of allowances of $32 million and $33 million, respectively. Changes in the allowance were not material for each of the three and nine months ended September 30, 2024 and September 30, 2023.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventories
Inventories	4. Inventories Major classes of inventory at September 30, 2024, December 31, 2023 and September 30, 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ ​ 2024 2023 2023 ​ ​ Finished goods ​ $ 824 ​ $ 868 ​ $ 894 ​ ​ Raw materials ​ 175 ​ 151 ​ 152 ​ ​ Operating supplies ​ 51 ​ 52 ​ 52 ​ ​ ​ ​ $ 1,050 ​ $ 1,071 ​ $ 1,098 ​ ​ ​

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2024
Derivative Instruments
Derivative Instruments	​ 5. Derivative Instruments The Company has certain derivative assets and liabilities, which consist of natural gas forwards and collars, 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 prices, 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. Estimates of the fair value of foreign currency and commodity derivative instruments are determined using exchange traded prices and rates. 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 and Collars Designated as Cash Flow Hedges The Company has entered into commodity forward contracts and collars related to forecasted natural gas requirements, the objective of which are to limit the effects of fluctuations in future market prices of natural gas and the related volatility in cash flows. An unrecognized loss of $4 million, $0 and $8 million at September 30, 2024, December 31, 2023 and September 30, 2023, respectively, related to the commodity forward contracts and collars was included in Accumulated other comprehensive income (loss) (“Accumulated OCI”), and will be reclassified into earnings over the next 12 months. 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. In addition, one of the Company’s non-U.S. dollar-functional-currency subsidiaries purchases a raw material in the normal course of business for use in glass container production that is priced in U.S. dollars. Such purchases expose the Company to exchange rate fluctuations. The Company uses derivatives to manage these exposures and designates these derivatives as cash flow hedges of foreign currency exchange risk. No unrecognized gains related to cross-currency swaps were included in Accumulated OCI. Fair Value Hedges of Foreign Exchange Risk The Company has fixed and 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 fair value hedges of foreign currency exchange risk. Approximately $0 million, $2 million and $1 million of the components were excluded from the assessment of effectiveness and are included in Accumulated OCI at September 30, 2024, December 31, 2023 and September 30, 2023, respectively. 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. 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 exchange rate risk for receivables and payables, including intercompany receivables, payables, and loans, not denominated in, or indexed to, their functional currencies. Balance Sheet Classification The following table shows the amount and classification (as noted above) of the Company’s derivatives at September 30, 2024, December 31, 2023 and September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value of ​ Fair Value of ​ ​ Hedge Assets ​ Hedge Liabilities ​ ​ September 30, ​ December 31, ​ September 30, ​ September 30, ​ December 31, ​ September 30, ​ 2024 2023 2023 2024 2023 2023 Derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts and collars (a) ​ $ — ​ $ — ​ $ — ​ $ 10 ​ $ 14 ​ $ 13 Fair value hedges of foreign exchange risk (b) ​ ​ 4 ​ ​ 4 ​ ​ 7 ​ ​ 118 ​ ​ 111 ​ ​ 72 Net investment hedges (c) ​ ​ 2 ​ ​ 4 ​ ​ 4 ​ ​ 57 ​ ​ 56 ​ ​ 30 Total derivatives accounted for as hedges ​ $ 6 ​ $ 8 ​ $ 11 ​ $ 185 ​ $ 181 ​ $ 115 Derivatives not designated as hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange derivative contracts (d) ​ ​ 11 ​ ​ 5 ​ ​ 3 ​ ​ 3 ​ ​ 9 ​ ​ 14 Total derivatives ​ $ 17 ​ $ 13 ​ $ 14 ​ $ 188 ​ $ 190 ​ $ 129 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 17 ​ $ 13 ​ $ 14 ​ $ 12 ​ $ 17 ​ $ 21 Noncurrent ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 176 ​ ​ 173 ​ ​ 108 Total derivatives ​ $ 17 ​ $ 13 ​ $ 14 ​ $ 188 ​ $ 190 ​ $ 129 (a) The notional amount of the commodity forward contracts and collars was approximately 30 million, 38 million, and 40 million British Thermal Units at September 30, 2024, December 31, 2023, and September 30, 2023, respectively. The maximum maturity dates are in 2027 at September 30, 2024, December 31, 2023, and September 30, 2023. (b) The notional amounts of the fair value hedges of foreign exchange risk were $833 million at September 30, 2024, $833 million at December 31, 2023 and $844 million at September 30, 2023. The maximum maturity dates are in 2030 at September 30, 2024, December 31, 2023 and September 30, 2023. (c) The notional amounts of the net investment hedges were €483 million at September 30, 2024, €483 million at December 31, 2023 and €483 million at September 30, 2023. The maximum maturity dates are in 2026 at September 30, 2024, December 31, 2023 and September 30, 2023. (d) The notional amounts of the foreign exchange derivative contracts were $628 million, $407 million and $493 million at September 30, 2024, December 31, 2023 and September 30, 2023, respectively. The maximum maturity dates are in 2024 at September 30, 2024, and in 2023 at December 31, 2023 and September 30, 2023. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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: 2024 ​ 2023 ​ ​ 2024 ​ 2023 ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts and collars (a) ​ $ (2) ​ $ ​ ​ ​ $ (3) ​ $ (6) ​ Cash flow hedges of foreign exchange risk (a) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2) ​ Net Investment Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Investment Hedges (b) ​ ​ (21) ​ ​ 12 ​ ​ ​ 1 ​ ​ 2 ​ ​ ​ $ (23) ​ $ 12 ​ ​ $ (2) ​ $ (6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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: 2024 ​ 2023 ​ ​ 2024 ​ 2023 ​ Cash Flow Hedges ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts and collars (a) ​ $ (6) ​ $ (23) ​ ​ $ (9) ​ $ (17) ​ Cash flow hedges of foreign exchange risk (a) ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ ​ (2) ​ Net Investment Hedges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Investment Hedges (b) ​ ​ ​ ​ ​ 2 ​ ​ ​ 4 ​ ​ 4 ​ ​ ​ $ (6) ​ $ (24) ​ ​ $ (5) ​ $ (15) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Gain (Loss) Recognized in Other expense, net ​ ​ Amount of Gain (Loss) Recognized in Other expense, net ​ ​ ​ Three months ended September 30, ​ ​ Nine months ended September 30, ​ Derivatives not designated as hedges: 2024 ​ 2023 ​ ​ 2024 ​ 2023 ​ Foreign exchange derivative contracts $ 13 $ (3) ​ $ (3) ​ $ (9) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1) Gains and losses reclassified from Accumulated OCI and recognized in income are recorded to (a) cost of goods sold or (b) interest expense, net.

Restructuring Accruals

Restructuring Accruals	9 Months Ended
	Sep. 30, 2024
Restructuring Accruals
Restructuring Accruals	​ 6. Restructuring Accruals Selected information related to the restructuring accruals for the three months ended September 30, 2024 and 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fit to Win program ​ ​ Other Restructuring ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Employee ​ Asset ​ Other ​ Total ​ Costs ​ Impairment ​ Exit Costs Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at July 1, 2024 ​ $ — ​ $ — ​ $ — ​ $ 15 ​ $ — ​ $ 9 ​ $ 24 Charges ​ ​ 33 ​ ​ 43 ​ ​ 4 ​ ​ 1 ​ ​ ​ ​ ​ 2 ​ ​ 83 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ (1) ​ ​ ​ ​ ​ ​ ​ (4) ​ ​ ​ ​ ​ (4) ​ (9) Other, including foreign exchange translation ​ (3) ​ ​ ​ ​ ​ ​ ​ (1) ​ ​ ​ ​ ​ (3) ​ (7) Balance at September 30, 2024 ​ $ 29 ​ $ — ​ $ 4 ​ $ 11 ​ $ — ​ $ 4 ​ $ 48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Restructuring ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ ​ ​ ​ ​ ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at July 1, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 11 ​ $ — ​ $ 6 ​ $ 17 Charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 28 ​ ​ 43 ​ ​ 7 ​ ​ 78 Write-down of assets to net realizable value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (11) ​ ​ ​ ​ ​ ​ ​ (11) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ (1) ​ ​ (4) Balance at September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 25 ​ $ — ​ $ 12 ​ $ 37 ​ ​ Selected information related to the restructuring accruals for the nine months ended September 30, 2024 and 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fit to Win program ​ ​ Other Restructuring ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Employee ​ Asset ​ Other ​ Total ​ ​ Costs ​ Impairment ​ Exit Costs ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at January 1, 2024 ​ $ — ​ $ — ​ $ — ​ $ 27 ​ $ — ​ $ 12 ​ $ 39 Charges ​ ​ 33 ​ ​ 43 ​ ​ 4 ​ ​ 1 ​ ​ ​ ​ ​ 2 ​ ​ 83 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ (1) ​ ​ ​ ​ ​ ​ ​ (16) ​ ​ ​ ​ ​ (7) ​ (24) Other, including foreign exchange translation ​ (3) ​ ​ ​ ​ ​ ​ ​ (1) ​ ​ ​ ​ ​ (3) ​ (7) Balance at September 30, 2024 ​ $ 29 ​ $ — ​ $ 4 ​ $ 11 ​ $ — ​ $ 4 ​ $ 48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Restructuring ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ ​ ​ ​ ​ ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at January 1, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 17 ​ $ — ​ $ 10 ​ $ 27 Charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 28 ​ ​ 43 ​ ​ 7 ​ ​ 78 Write-down of assets to net realizable value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (17) ​ ​ ​ ​ ​ (4) ​ ​ (21) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ (1) ​ ​ (4) Balance at September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 25 ​ $ — ​ $ 12 ​ $ 37 ​ When a decision is made to take restructuring actions, the Company manages and accounts for them programmatically apart from the ongoing 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, 2024, the Company’s only major restructuring program was the Fit to Win initiative which is expected to reduce redundant production capacity and begin to optimize the network, as well as streamline other cost areas, such as selling, general and administrative expenses. Details regarding charges, payments and other changes to the Fit to Win restructuring accruals are presented in the table above. This major restructuring program is expected to last at least through 2025 and management does not yet have an estimate for the total restructuring charges expected to be incurred with this program, however, the total charges are expected to be material. As of September 30, 2023, no major restructuring programs were in effect. For the three and nine months ended September 30, 2024, the Company recorded restructuring and other charges of approximately $83 million to Other expense, net ($81 million) and Equity earnings ($2 million) on the Condensed Consolidated Results of Operations, of which $80 million related to the Fit to Win program. These charges consisted of employee costs, such as severance and benefit-related costs, write-down of assets and other exit costs in the Americas segment ( million). As of September 30, 2024, the Company has incurred cumulative charges of million related to the Fit to Win program. Additional restructuring charges are expected in future quarters. 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, 2023, the Company implemented several discrete restructuring initiatives and recorded restructuring and other charges of $78 million. These charges consisted of employee costs, such as severance and benefit-related costs, write-down of assets and other exit costs in the Americas ($77 million) and Europe ($1 million) segments. 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, 2023, these charges were recorded to Other income (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. 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 appraisals, where applicable) in the fair value hierarchy as set forth in the general accounting principles for fair value measurements. For the asset impairments recorded during both of the nine months ended September 30, 2024 and 2023, the remaining carrying value of the impaired assets was approximately

Pension Benefit Plans

Pension Benefit Plans	9 Months Ended
	Sep. 30, 2024
Pension Benefit Plans
Pension Benefit Plans	7. Pension Benefit Plans The components of the net periodic pension cost for the three months ended September 30, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ Non-U.S. ​ ​ Three months ended September 30, ​ Three months ended September 30, ​ ​ 2024 2023 2024 2023 Service cost ​ $ 1 ​ $ 2 ​ $ 2 ​ $ 2 ​ Interest cost ​ 11 ​ 11 ​ 9 ​ 9 ​ Expected asset return ​ ​ (13) ​ ​ (14) ​ ​ (8) ​ ​ (7) ​ Amortization of actuarial loss ​ ​ 3 ​ ​ 2 ​ ​ 3 ​ ​ 2 ​ Net periodic pension cost ​ $ 2 ​ $ 1 ​ $ 6 ​ $ 6 ​ ​ The components of the net periodic pension cost for the nine months ended September 30, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ Non-U.S. ​ ​ Nine months ended September 30, ​ Nine months ended September 30, ​ ​ 2024 2023 2024 2023 Service cost ​ $ 4 ​ $ 5 ​ $ 7 ​ $ 6 ​ Interest cost ​ 32 ​ 34 ​ 27 ​ 27 ​ Expected asset return ​ ​ (40) ​ ​ (42) ​ ​ (24) ​ ​ (21) ​ Amortization of actuarial loss ​ ​ 10 ​ ​ 7 ​ ​ 8 ​ ​ 6 ​ Net periodic pension cost ​ $ 6 ​ $ 4 ​ $ 18 ​ $ 18 ​ ​ The components of pension expense, other than the service cost component, are included in Other expense, net on the Condensed Consolidated Results of Operations.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Taxes.
Income Taxes	8. 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 U.S. 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 factors such as changes in tax laws, tax rates or regulations, changes in business, changing interpretation of existing tax laws or regulations and 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 and the impact of the U.S. valuation allowance. The Company is currently under income tax examination in various tax jurisdictions in which it operates, including Brazil, Canada, Colombia, France, Germany, Indonesia, Italy, Peru, and the U.S. The years under examination range from 2004 through 2023. 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 consolidated results of operations, financial position or cash flows. Due to uncertainties regarding the ultimate resolution of income tax examinations, the Company is not able to reasonably estimate any tax assessments that may be settled at amounts in excess of established reserves in future periods, or the future periods in which any income tax payments to settle these provisions for income tax uncertainties.

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt
Debt	9. Debt The following table summarizes the long-term debt of the Company at September 30, 2024, December 31, 2023, and September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ 2024 2023 2023 ​ Secured Credit Agreement: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Credit Facility: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Loans ​ $ — ​ $ — ​ $ — ​ Term Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loan A ​ ​ 1,392 ​ ​ 1,391 ​ ​ 1,427 ​ Senior Notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.125%, due 2024 (€58 million) ​ ​ 65 ​ ​ 63 ​ ​ 60 ​ 6.375%, due 2025 ​ ​ ​ ​ ​ 299 ​ ​ 298 ​ 5.375%, due 2025 ​ ​ 17 ​ ​ 17 ​ ​ 17 ​ 2.875%, due 2025 (€176 million at September 30, 2024, €500 million at December 31, 2023 and September 30, 2023) ​ ​ 197 ​ ​ 551 ​ ​ 527 ​ 6.625%, due 2027 ​ ​ 609 ​ ​ 608 ​ ​ 608 ​ 6.250%, due 2028 (€600 million) ​ ​ 663 ​ ​ 656 ​ ​ 627 ​ 5.250%, due 2029 (€500 million) ​ ​ 551 ​ ​ ​ ​ ​ ​ ​ 4.750%, due 2030 ​ ​ 397 ​ ​ 396 ​ ​ 396 ​ 7.250%, due 2031 ​ ​ 682 ​ ​ 682 ​ ​ 681 ​ 7.375%, due 2032 ​ ​ 296 ​ ​ ​ ​ ​ ​ ​ Finance leases ​ ​ 198 ​ ​ 174 ​ ​ 164 ​ Other ​ 1 ​ ​ 3 ​ ​ 2 ​ Total long-term debt ​ 5,068 ​ 4,840 ​ ​ 4,807 ​ Less amounts due within one year ​ 359 ​ ​ 142 ​ ​ 53 ​ Long-term debt ​ $ 4,709 ​ $ 4,698 ​ $ 4,754 ​ ​ The Company presents debt issuance costs in the Condensed Consolidated Balance Sheets as a deduction of the carrying amount of the related debt liability. On March 25, 2022, certain of the Company’s subsidiaries entered into a Credit Agreement and Syndicated Facility Agreement (the “Original Agreement”), which refinanced in full the previous credit agreement. The Original Agreement provided for up to billion of borrowings pursuant to term loans, revolving credit facilities and a delayed draw term loan facility. million, the proceeds of which were used, in addition to other consideration paid by the Company and/or its subsidiaries, to fund an asbestos settlement trust (the “Paddock Trust”) established in connection with the confirmed plan of reorganization of Paddock Enterprises, LLC (“Paddock”) proposed by Paddock, O-I Glass and certain other parties in Paddock’s Chapter 11 case. On August 30, 2022, certain of the Company’s subsidiaries entered into an Amendment No. 1 to its Credit Agreement and Syndicated Facility Agreement (the “Credit Agreement Amendment”), which amends the Original Agreement (as amended by the Credit Agreement Amendment, the “Credit Agreement”). The Credit Agreement Amendment provides for up to The term loans mature, and the revolving credit facilities terminate, in March 2027. At September 30, 2024, the Credit Agreement includes a $300 million revolving credit facility, a $950 million multicurrency revolving credit facility and $1.45 billion in term loan A facilities ($1.39 billion outstanding balance at September 30, 2024, net of debt issuance costs ). At September 30, 2024, the Company had unused credit of . The Credit 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 Credit Agreement also contains one financial maintenance covenant, a Secured Leverage Ratio (as defined in the Credit Agreement), that requires the Company not to exceed a ratio of 2.50x calculated by dividing consolidated Net Indebtedness that is then secured by Liens on property or assets of the Company and certain of its subsidiaries by Consolidated EBITDA, as each term is defined and as described in the Credit Agreement. The Secured Leverage Ratio could restrict the ability of the Company to undertake additional financing or acquisitions to the extent that such financing or acquisitions would cause the Secured Leverage Ratio to exceed the specified maximum. Failure to comply with these covenants and restrictions could result in an event of default under the Credit Agreement. In such an event, the Company could not request additional borrowings under the revolving facilities, and all amounts outstanding under the Credit 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 per annum will apply to all overdue obligations under the Credit Agreement. If an event of default occurs under the Credit Agreement and the lenders cause all of the outstanding debt obligations under the Credit 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, 2024, the Company was in compliance with all covenants and restrictions in the Credit Agreement. In addition, the Company believes that it will remain in compliance for the term of the Credit Agreement and that its ability to borrow additional funds under the Credit Agreement will not be adversely affected by the covenants and restrictions. The Total Leverage Ratio (as defined in the Credit Agreement) determines pricing under the Credit Agreement. The interest rate on borrowings under the Agreement), plus an applicable margin. The applicable margin is linked to the Total 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 Credit 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 Credit Agreement are guaranteed by certain domestic subsidiaries of the Company, and certain foreign obligations under the Credit Agreement are guaranteed by certain foreign subsidiaries of the Company. In May 2024, the Company issued €500 million aggregate principal amount of senior notes that bear interest of 5.250% and mature on June 1, 2029. Also, in May 2024, the Company issued $300 million aggregate principal amount of senior notes that bear interest of 7.375% and mature on June 1, 2032. The senior notes were issued via private placements and are guaranteed by certain of the Company’s subsidiaries. The net proceeds, after deducting debt issuance costs, were used to repurchase and redeem the aggregate principal amounts described in the May 2024 tender offer and redemption below. In May 2024, the Company repurchased € 323.4 million aggregate principal amount of the outstanding 2.875% Senior Notes due 2025 pursuant to a tender offer and redeemed $300 million aggregate principal amount of the outstanding 6.375% Senior Notes due 2025. The repurchase and redemption were funded with the proceeds from the May 2024 senior notes issuances described above. The Company recorded approximately $2 million of additional interest charges related to the senior note repurchases conducted in the second quarter of 2024 for note repurchase premiums and the write-off of unamortized finance fees. At September 30, 2024, approximately €176 million aggregate principal amounts of the 2.875% Senior Notes due 2025 remained outstanding. In May 2023, the Company issued €600 million aggregate principal amount of senior notes that bear interest at a rate of 6.250% per annum and mature on May 15, 2028. Also, in May 2023, the Company issued $690 million aggregate principal amount of senior notes that bear interest at a rate of 7.250% per annum and mature on May 15, 2031. The senior notes were issued via a private placement and are guaranteed by certain of the Company’s subsidiaries. The net proceeds, after deducting debt issuance costs were used to redeem the aggregate principal amounts described in the May 2023 tender offers below. In May 2023, the Company repurchased $142 million aggregate principal amount of the outstanding 5.875% Senior Notes due 2023, €666.7 million aggregate principal amount of the outstanding 3.125% Senior Notes due 2024, and $282.8 million aggregate principal amount of the outstanding 5.375% Senior Notes due 2025. The repurchases were funded with the proceeds from the May 2023 senior notes issuances described above. The Company recorded approximately $39 million of additional interest charges related to the senior note repurchases conducted in the second quarter of 2023 for note repurchase premiums, the write-off of unamortized finance fees and the settlement of a related interest rate swap. In August 2023, the Company redeemed approximately $108 million aggregate principal amount of its 5.875% Senior Notes due 2023. At September 30, 2024, approximately €58 million and $17 million aggregate principal amounts of the 3.125% Senior Notes due 2024 and 5.375% Senior Notes due 2025, respectively, remained outstanding. 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal ​ Indicated Market ​ ​ ​ ​ Amount Price Fair Value ​ Senior Notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.125%, due 2024 (€58 million) ​ $ 65 ​ ​ 99.92 ​ $ 65 ​ 5.375%, due 2025 ​ ​ 17 ​ ​ 99.86 ​ ​ 17 ​ 2.875%, due 2025 (€176 million) ​ ​ 197 ​ ​ 99.57 ​ ​ 196 ​ 6.625%, due 2027 ​ ​ 612 ​ ​ 100.55 ​ ​ 615 ​ 6.250%, due 2028 (€600 million) ​ ​ 670 ​ ​ 104.32 ​ ​ 699 ​ 5.250%, due 2029 (€500 million) ​ ​ 558 ​ ​ 102.27 ​ ​ 571 ​ 4.750%, due 2030 ​ ​ 400 ​ ​ 94.53 ​ ​ 378 ​ 7.250%, due 2031 ​ ​ 690 ​ ​ 102.83 ​ ​ 710 ​ 7.375%, due 2032 ​ ​ 300 ​ ​ 102.14 ​ ​ 306 ​ ​

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2024
Contingencies
Contingencies	​ ​ 10. Contingencies The Company has been identified by the U.S. Environmental Protection Agency or a comparable state or federal agency as a potentially responsible party (“PRP”) at a number of sites in the U.S., including certain Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (“CERCLA”) (Superfund) sites, as well as sites previously owned or operated by the Company. As an identified PRP, the Company may have liability for investigation, remediation and monitoring of contamination, as well as associated penalties and natural resource damages, if any. The Company has not had monetary sanctions imposed nor has the Company been notified of any potential monetary sanctions at any of the sites. The Company has recorded aggregate accruals of approximately $35 million, $26 million and $26 million (undiscounted) as of September 30, 2024, December 31, 2023 and September 30, 2023, respectively, for estimated future remediation and monitoring costs at these sites. Although the Company believes its accruals are adequate to cover its portion of future remediation and monitoring costs, there can be no assurance that the ultimate payments will not exceed the amount of the Company’s accruals and will not have a material effect on its results of operations, financial position and cash flows. Other than related to the site discussed below, any possible loss or range of potential loss that may be incurred in excess of the recorded accruals cannot be estimated. As part of the above, from December 31, 1956 through June 1967, the Company, via a wholly-owned subsidiary, owned and operated a paper mill located on the shore of the Cuyahoga River in Ohio, which is now part of the Cuyahoga Valley National Park that is managed by the National Park Service (“NPS”).  The Company and the United States are currently engaged in litigation regarding the site in the U.S. District Court for the Northern District of Ohio (Akron), with the United States claiming that the Company should pay $50 million as a remedy for certain soils at the site as well as its past and anticipated future costs. The Company undertook sampling at the site in 2024 and has proposed settling this matter and has recorded charges of approximately ​ In November 2023, the Autorita Garante della Concorrenza e del Mercato (the “Italian Competition Authority”) commenced an investigation into alleged anti-competitive conduct by nine glass manufacturers and distributors in Italy, including the Company’s subsidiary based in Italy, O-I Italy SpA (“O-I Italy”), and an Italian joint venture in which O-I Italy owns a 50% interest, related to the sale of wine bottles in Italy. The Italian Competition Authority’s investigation is ongoing. To date, the Italian Competition Authority has not officially charged O-I Italy or its joint venture with any violations of competition law. If the Italian Competition Authority finds that the Company or any of its subsidiaries or joint ventures violated competition law, the Italian Competition Authority could levy fines, which could be material. At this stage, the Company is unable to predict the ultimate outcome of the investigation and any potential loss cannot be estimated. 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, 2024
Share Owners' Equity
Share Owners' Equity	​ ​ 11. Share Owners’ Equity ​ The activity in share owners’ equity for the three months ended September 30, 2024 and 2023 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 ​ Interests ​ Equity ​ Balance on July 1, 2024 ​ $ 2 ​ $ 3,069 ​ ​ (685) ​ $ 911 ​ $ (1,794) ​ $ 128 ​ $ 1,631 ​ Reissuance of common stock (0.2 million shares) ​ ​ ​ ​ ​ (2) ​ ​ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Shares repurchased (0.9 million shares) ​ ​ ​ ​ ​ (10) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (10) ​ Stock compensation (0.0 million shares) ​ ​ ​ ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3 ​ Net earnings (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (80) ​ ​ ​ ​ ​ 4 ​ (76) ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (69) ​ ​ 1 ​ (68) ​ Balance on September 30, 2024 ​ $ 2 ​ $ 3,060 ​ $ (681) ​ $ 830 ​ $ (1,863) ​ $ 133 ​ $ 1,481 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ Interests ​ Equity Balance on July 1, 2023 ​ $ 2 ​ $ 3,093 ​ $ (687) ​ $ 1,201 ​ $ (1,587) ​ $ 121 ​ $ 2,143 ​ Reissuance of common stock (0.1 million shares) ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Shares repurchased (0.5 million shares) ​ ​ ​ ​ ​ (10) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (10) ​ Stock compensation (0.0 million shares) ​ ​ ​ ​ ​ 7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7 ​ Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 51 ​ ​ ​ ​ ​ 5 ​ 56 ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (86) ​ ​ 1 ​ (85) ​ Balance on September 30, 2023 ​ $ 2 ​ $ 3,090 ​ $ (685) ​ $ 1,252 ​ $ (1,673) ​ $ 127 ​ $ 2,113 ​ ​ ​ ​ The activity in share owners’ equity for the nine months ended September 30, 2024 and 2023 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 ​ Interests ​ Equity Balance on January 1, 2024 ​ $ 2 ​ $ 3,086 ​ $ (681) ​ $ 782 ​ $ (1,580) ​ $ 135 ​ $ 1,744 ​ Reissuance of common stock (0.4 million shares) ​ ​ ​ ​ ​ (5) ​ ​ 14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Shares repurchased (2.2 million shares) ​ ​ ​ ​ ​ (30) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (30) ​ Stock compensation (1.9 million shares) ​ ​ ​ ​ ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 48 ​ ​ ​ ​ ​ 13 ​ ​ 61 ​ Other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (283) ​ ​ (6) ​ ​ (289) ​ Distributions to non-controlling interests ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (9) ​ ​ (9) ​ Other ​ ​ ​ ​ ​ ​ ​ ​ (14) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (14) ​ Balance on September 30, 2024 ​ $ 2 ​ $ 3,060 ​ $ (681) ​ $ 830 ​ $ (1,863) ​ $ 133 ​ $ 1,481 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ Interests ​ Equity Balance on January 1, 2023 ​ $ 2 ​ $ 3,079 ​ $ (688) ​ $ 885 ​ $ (1,861) ​ $ 111 ​ $ 1,528 ​ Issuance of common stock (0.4 million shares) ​ ​ ​ ​ ​ 5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5 ​ Reissuance of common stock (0.4 million shares) ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Shares repurchased (1.4 million shares) ​ ​ ​ ​ ​ (30) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (30) ​ Stock compensation (0.7 million shares) ​ ​ ​ ​ ​ 36 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 36 ​ Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 367 ​ ​ ​ ​ ​ 12 ​ 379 ​ Other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 188 ​ ​ 7 ​ 195 ​ Distributions to non-controlling interests ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ (3) ​ Other ​ ​ ​ ​ ​ ​ ​ ​ (6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (6) ​ Balance on September 30, 2023 ​ $ 2 ​ $ 3,090 ​ $ (685) ​ $ 1,252 ​ $ (1,673) ​ $ 127 ​ $ 2,113 ​ ​ During the three months ended September 30, 2024, the Company purchased 926,757 shares of its common stock for approximately $10 million. The share purchases were made 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, ​ 2024 2023 2023 ​ ​ ​ ​ ​ ​ ​ ​ Shares of common stock issued (including treasury shares) 185,610 ​ 185,009 ​ 185,632 ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury shares 30,963 ​ 30,755 ​ 30,905 ​ ​ ​ ​ ​

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2024
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	​ 12. Accumulated Other Comprehensive Loss The activity in accumulated other comprehensive loss for the three months ended September 30, 2024 and 2023 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, 2024 ​ $ (1,194) ​ $ (24) ​ $ (576) ​ $ (1,794) ​ Change before reclassifications ​ (42) ​ ​ (17) ​ ​ (20) ​ (79) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ (2) (a) 6 (b) 4 ​ Translation effect ​ ​ ​ ​ ​ (1) ​ ​ 8 ​ ​ 7 ​ Tax effect ​ ​ ​ ​ ​ ​ ​ ​ (1) ​ ​ (1) ​ Other comprehensive loss attributable to the Company ​ (42) ​ (20) ​ (7) ​ (69) ​ Balance on September 30, 2024 ​ $ (1,236) ​ $ (44) ​ $ (583) ​ $ (1,863) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on July 1, 2023 ​ $ (971) ​ $ (28) ​ $ (588) ​ $ (1,587) Change before reclassifications ​ (105) ​ ​ 11 ​ ​ ​ ​ (94) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ (6) (a) 5 (b) (1) ​ Translation effect ​ ​ ​ ​ ​ 3 ​ ​ 5 ​ ​ 8 ​ Tax effect ​ ​ ​ ​ ​ 2 ​ ​ (1) ​ ​ 1 ​ Other comprehensive income (loss) attributable to the Company ​ (105) ​ 10 ​ 9 ​ (86) ​ Balance on September 30, 2023 ​ $ (1,076) ​ $ (18) ​ $ (579) ​ $ (1,673) ​ (a) Amount is recorded to cost of goods sold and interest expense, net on the Condensed Consolidated Results of Operations (see Note 5 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 7 for additional information) and net post-retirement benefit cost. ​ The activity in accumulated other comprehensive loss for the nine months ended September 30, 2024 and 2023 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, 2024 ​ $ (949) ​ $ (43) ​ $ (588) ​ $ (1,580) Change before reclassifications ​ (287) ​ ​ 5 ​ ​ (21) ​ (303) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ (5) (a) 18 (b) 13 ​ Translation effect ​ ​ ​ ​ ​ (1) ​ ​ 10 ​ ​ 9 ​ Tax effect ​ ​ ​ ​ ​ ​ ​ (2) ​ (2) ​ Other comprehensive income (loss) attributable to the Company ​ (287) ​ (1) ​ 5 ​ (283) ​ Balance on September 30, 2024 ​ $ (1,236) ​ $ (44) ​ $ (583) ​ $ (1,863) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2023 ​ $ (1,280) ​ $ 4 ​ $ (585) ​ $ (1,861) Change before reclassifications ​ 204 ​ ​ (15) ​ ​ (1) ​ 188 ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ (15) (a) 13 (b) (2) ​ Translation effect ​ ​ ​ ​ ​ 3 ​ ​ (5) ​ ​ (2) ​ Tax effect ​ ​ ​ ​ ​ 5 ​ (1) ​ 4 ​ Other comprehensive income (loss) attributable to the Company ​ 204 ​ (22) ​ 6 ​ 188 ​ Balance on September 30, 2023 ​ $ (1,076) ​ $ (18) ​ $ (579) ​ $ (1,673) ​ (a) Amount is recorded to cost of goods sold and interest expense, net on the Condensed Consolidated Results of Operations (see Note 5 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 7 for additional information) and net post-retirement benefit cost.

Other Expense, Net

Other Expense, Net	9 Months Ended
	Sep. 30, 2024
Other Expense, Net
Other Expense, Net	13. Other Expense, Net Other expense, net for the three and nine months ended September 30, 2024 and 2023 included the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2024 2023 2024 2023 Restructuring, asset impairment and other charges ​ $ (81) ​ $ (81) ​ $ (81) ​ $ (81) Legacy environmental charge ​ ​ (1) ​ ​ ​ ​ ​ (11) ​ ​ ​ Gain on sale of miscellaneous assets ​ ​ 1 ​ ​ ​ ​ ​ 1 ​ ​ ​ Intangible amortization expense ​ ​ (7) ​ ​ (8) ​ ​ (22) ​ ​ (24) Foreign currency exchange loss ​ ​ 3 ​ ​ (1) ​ ​ ​ ​ ​ (2) Royalty income ​ ​ 4 ​ ​ 6 ​ ​ 16 ​ ​ 19 Other income (expense) ​ ​ (1) ​ ​ (2) ​ ​ (1) ​ ​ (18) Other expense, net ​ $ (82) ​ $ (86) ​ $ (98) ​ $ (106) ​

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share
Earnings Per Share	14. Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share for the three months ended September 30, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ 2024 2023 Numerator: ​ ​ Net earnings (loss) attributable to the Company ​ $ (80) ​ $ 51 Denominator (in thousands): ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share-weighted average shares outstanding ​ 154,619 ​ ​ 154,702 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Stock options and other ​ ​ ​ 4,583 Denominator for diluted earnings per share-adjusted weighted average shares outstanding ​ 154,619 ​ ​ 159,285 Basic earnings per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) attributable to the Company ​ $ (0.52) ​ $ 0.33 Diluted earnings per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) attributable to the Company ​ $ (0.52) ​ $ 0.32 ​ The diluted earnings (loss) per share computation for the three months ended September 30, 2024 and 2023 excludes 1,185,925 and 371,052 weighted average shares of common stock, respectively, due to their antidilutive effect, which includes unvested restricted stock units and performance vested restricted share units. For the three months ended September 30, 2024, diluted earnings per share of common stock was equal to basic earnings per share of common stock due to the net loss attributable to the Company. The following table sets forth the computation of basic and diluted earnings per share for the nine months ended September 30, 2024 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ 2024 2023 Numerator: ​ ​ ​ Net earnings attributable to the Company ​ $ 48 ​ $ 367 Denominator (in thousands): ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share-weighted average shares outstanding ​ 154,724 ​ 154,796 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Stock options and other ​ 2,813 ​ 4,440 Denominator for diluted earnings per share-adjusted weighted average shares outstanding ​ 157,537 ​ 159,236 Basic earnings per share: ​ ​ ​ ​ ​ ​ Net earnings attributable to the Company ​ $ 0.31 ​ $ 2.37 Diluted earnings per share: ​ ​ ​ ​ ​ ​ Net earnings attributable to the Company ​ $ 0.31 ​ $ 2.31 ​ The diluted earnings per share computation for the nine months ended September 30, 2024 and 2023 excludes 1,076,542 and 380,047 weighted average shares of common stock, respectively, due to their antidilutive effect, which includes unvested restricted stock units and performance vested restricted share units.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Information
Supplemental Cash Flow Information	15. Supplemental Cash Flow Information Income taxes paid in cash were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ ​ 2024 2023 U.S. ​ $ 8 ​ $ 12 ​ Non-U.S. ​ 123 ​ 101 ​ Total income taxes paid in cash ​ $ 131 ​ $ 113 ​ ​ Interest paid in cash for the nine months ended September 30, 2024 and 2023 was $237 million and $222 million, respectively. Cash interest for the nine months ended September 30, 2023 included $3 million of note repurchase premiums. The Company uses various factoring programs to sell certain trade receivables to financial institutions as part of managing its cash flows. Sales of trade receivables are accounted for in accordance with ASC Topic 860, Transfers and Servicing. Trade receivables sold under the factoring programs are transferred without recourse to the Company and accounted for as true sales and, therefore, are excluded from Trade receivables, net in the Condensed Consolidated Balance Sheets. At September 30, 2024, December 31, 2023 and September 30, 2023, the total amount of trade receivables sold by the Company was million at September 30, 2024, December 31, 2023, and September 30, 2023, respectively, for trade receivable amounts factored under supply-chain financing programs linked to commercial arrangements with key customers. The Company is the master servicer for the factoring programs that are not associated with key customers and is responsible for administering and collecting receivables. The Company’s use of its accounts receivable factoring programs resulted in an increase to cash provided by operating activities of approximately $2 million for the nine months ended September 30, 2024 and an increase in cash provided by operating activities of approximately $1 million for the nine months ended September 30, 2023. For the nine months ended September 30, 2024 and 2023, the Company recorded expenses related to these factoring programs of approximately In accordance with ASU 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations,” the Company has agreements with third-party administrators that allow participating vendors to track the Company’s payments and, if voluntarily elected by the vendor, to sell payment obligations from the Company to financial institutions as part of a Supply Chain Financing (“SCF”) Program. The Company's payment terms to the financial institutions, including the timing and amount of payments, are based on the original supplier invoices. When participating vendors elect to sell one or more of the Company’s payment obligations, the Company’s rights and obligations to settle the payables on their contractual due date are not impacted. The Company has no economic or commercial interest in a vendor’s decision to enter into these agreements, and the financial institutions do not provide the Company with incentives, such as rebates or profit sharing under the SCF Program. The Company agrees on commercial terms with vendors for the goods and services procured, which are consistent with payment terms observed at other peer companies in the industry, and the terms are not impacted by the SCF Program. Such obligations are classified as accounts payable in its Condensed Consolidated Balance Sheets. The Company does not provide asset pledges, or other forms of guarantees, as security for the committed payment to the financial institutions. As of September 30, 2024, December 31, 2023 and September 30, 2023, the Company had approximately $92 million, $113 million, and $119 million, respectively, of outstanding payment obligations to the financial institutions as part of the SCF Program.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (80)	$ 51	$ 48	$ 367

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Information
Schedule of net sales for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ ​ 2024 2023 2024 2023 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 940 ​ $ 948 ​ $ 2,693 ​ $ 2,943 ​ Europe ​ 706 ​ 766 ​ 2,216 ​ ​ 2,428 ​ Reportable segment totals ​ 1,646 ​ 1,714 ​ 4,909 ​ 5,371 ​ Other ​ 33 ​ ​ 29 ​ ​ 93 ​ ​ 93 ​ Net sales ​ $ 1,679 ​ $ 1,743 ​ $ 5,002 ​ $ 5,464 ​
Schedule of segment operating profit (loss) for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2024 2023 2024 2023 Earnings (loss) before income taxes ​ $ (57) ​ $ 82 ​ $ 163 ​ $ 506 ​ Items excluded from segment operating profit: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Retained corporate costs and other ​ ​ 31 ​ ​ 60 ​ ​ 104 ​ ​ 175 ​ Restructuring, asset impairment and other charges ​ ​ 83 ​ ​ 81 ​ ​ 83 ​ ​ 81 ​ Legacy environmental charge ​ ​ 1 ​ ​ ​ ​ ​ 11 ​ ​ ​ ​ Gain on sale of miscellaneous assets ​ ​ (1) ​ ​ ​ ​ ​ (1) ​ ​ ​ ​ Interest expense, net ​ ​ 87 ​ ​ 78 ​ ​ 252 ​ ​ 263 ​ Segment operating profit ​ $ 144 ​ $ 301 ​ $ 612 ​ $ 1,025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas ​ $ 88 ​ $ 116 ​ $ 296 ​ $ 419 ​ Europe ​ ​ 56 ​ ​ 185 ​ ​ 316 ​ ​ 606 ​ Reportable segment totals ​ $ 144 ​ $ 301 ​ $ 612 ​ $ 1,025 ​
Total assets for the Company's reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ 2024 ​ 2023 ​ 2023 ​ Total assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Americas $ 4,882 $ 5,218 $ 5,474 ​ Europe ​ 3,927 ​ 3,949 ​ 3,709 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reportable segment totals ​ 8,809 ​ 9,167 ​ 9,183 ​ Other ​ 563 ​ ​ 502 ​ ​ 552 ​ Consolidated totals $ 9,372 $ 9,669 $ 9,735 ​ ​

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue
Schedule of disaggregation of revenue by customer end use	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2024 ​ Americas ​ Europe ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 530 $ 501 $ 1,031 Food and other ​ 226 ​ 128 ​ 354 Non-alcoholic beverages ​ 184 ​ 77 ​ 261 Reportable segment totals ​ $ 940 ​ $ 706 ​ $ 1,646 Other ​ ​ ​ ​ ​ ​ ​ 33 Net sales ​ ​ ​ ​ ​ ​ $ 1,679 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, 2023 ​ Americas ​ Europe ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 557 ​ $ 565 ​ $ 1,122 Food and other ​ 208 ​ ​ 128 ​ 336 Non-alcoholic beverages ​ 183 ​ ​ 73 ​ 256 Reportable segment totals ​ $ 948 ​ $ 766 ​ $ 1,714 Other ​ ​ ​ ​ ​ ​ ​ 29 Net sales ​ ​ ​ ​ ​ ​ $ 1,743 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2024 ​ Americas ​ Europe ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 1,492 $ 1,618 ​ $ 3,110 Food and other ​ 660 ​ 363 ​ 1,023 Non-alcoholic beverages ​ 541 ​ 235 ​ 776 Reportable segment totals ​ $ 2,693 ​ $ 2,216 ​ $ 4,909 Other ​ ​ ​ ​ ​ ​ ​ 93 Net sales ​ ​ ​ ​ ​ ​ $ 5,002 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2023 ​ Americas ​ Europe ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Alcoholic beverages (beer, wine, spirits) $ 1,752 ​ $ 1,816 ​ $ 3,568 Food and other ​ 651 ​ ​ 384 ​ 1,035 Non-alcoholic beverages ​ 540 ​ ​ 228 ​ 768 Reportable segment totals ​ $ 2,943 ​ $ 2,428 ​ $ 5,371 Other ​ ​ ​ ​ ​ ​ ​ 93 Net sales ​ ​ ​ ​ ​ ​ $ 5,464

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventories
Schedule of major classes of inventory	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ ​ 2024 2023 2023 ​ ​ Finished goods ​ $ 824 ​ $ 868 ​ $ 894 ​ ​ Raw materials ​ 175 ​ 151 ​ 152 ​ ​ Operating supplies ​ 51 ​ 52 ​ 52 ​ ​ ​ ​ $ 1,050 ​ $ 1,071 ​ $ 1,098 ​ ​ ​

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
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, ​ 2024 2023 2023 2024 2023 2023 Derivatives designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commodity forward contracts and collars (a) ​ $ — ​ $ — ​ $ — ​ $ 10 ​ $ 14 ​ $ 13 Fair value hedges of foreign exchange risk (b) ​ ​ 4 ​ ​ 4 ​ ​ 7 ​ ​ 118 ​ ​ 111 ​ ​ 72 Net investment hedges (c) ​ ​ 2 ​ ​ 4 ​ ​ 4 ​ ​ 57 ​ ​ 56 ​ ​ 30 Total derivatives accounted for as hedges ​ $ 6 ​ $ 8 ​ $ 11 ​ $ 185 ​ $ 181 ​ $ 115 Derivatives not designated as hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange derivative contracts (d) ​ ​ 11 ​ ​ 5 ​ ​ 3 ​ ​ 3 ​ ​ 9 ​ ​ 14 Total derivatives ​ $ 17 ​ $ 13 ​ $ 14 ​ $ 188 ​ $ 190 ​ $ 129 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current ​ $ 17 ​ $ 13 ​ $ 14 ​ $ 12 ​ $ 17 ​ $ 21 Noncurrent ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 176 ​ ​ 173 ​ ​ 108 Total derivatives ​ $ 17 ​ $ 13 ​ $ 14 ​ $ 188 ​ $ 190 ​ $ 129 (a) The notional amount of the commodity forward contracts and collars was approximately 30 million, 38 million, and 40 million British Thermal Units at September 30, 2024, December 31, 2023, and September 30, 2023, respectively. The maximum maturity dates are in 2027 at September 30, 2024, December 31, 2023, and September 30, 2023. (b) The notional amounts of the fair value hedges of foreign exchange risk were $833 million at September 30, 2024, $833 million at December 31, 2023 and $844 million at September 30, 2023. The maximum maturity dates are in 2030 at September 30, 2024, December 31, 2023 and September 30, 2023. (c) The notional amounts of the net investment hedges were €483 million at September 30, 2024, €483 million at December 31, 2023 and €483 million at September 30, 2023. The maximum maturity dates are in 2026 at September 30, 2024, December 31, 2023 and September 30, 2023. (d) The notional amounts of the foreign exchange derivative contracts were $628 million, $407 million and $493 million at September 30, 2024, December 31, 2023 and September 30, 2023, respectively. The maximum maturity dates are in 2024 at September 30, 2024, and in 2023 at December 31, 2023 and September 30, 2023. ​
Effects of derivative instruments on the results of operations	​

Restructuring Accruals (Tables)

Restructuring Accruals (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring Accruals
Selected information related to the restructuring accruals	Selected information related to the restructuring accruals for the three months ended September 30, 2024 and 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fit to Win program ​ ​ Other Restructuring ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Employee ​ Asset ​ Other ​ Total ​ Costs ​ Impairment ​ Exit Costs Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at July 1, 2024 ​ $ — ​ $ — ​ $ — ​ $ 15 ​ $ — ​ $ 9 ​ $ 24 Charges ​ ​ 33 ​ ​ 43 ​ ​ 4 ​ ​ 1 ​ ​ ​ ​ ​ 2 ​ ​ 83 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ (1) ​ ​ ​ ​ ​ ​ ​ (4) ​ ​ ​ ​ ​ (4) ​ (9) Other, including foreign exchange translation ​ (3) ​ ​ ​ ​ ​ ​ ​ (1) ​ ​ ​ ​ ​ (3) ​ (7) Balance at September 30, 2024 ​ $ 29 ​ $ — ​ $ 4 ​ $ 11 ​ $ — ​ $ 4 ​ $ 48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Restructuring ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ ​ ​ ​ ​ ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at July 1, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 11 ​ $ — ​ $ 6 ​ $ 17 Charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 28 ​ ​ 43 ​ ​ 7 ​ ​ 78 Write-down of assets to net realizable value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (11) ​ ​ ​ ​ ​ ​ ​ (11) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ (1) ​ ​ (4) Balance at September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 25 ​ $ — ​ $ 12 ​ $ 37 ​ ​ Selected information related to the restructuring accruals for the nine months ended September 30, 2024 and 2023 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fit to Win program ​ ​ Other Restructuring ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Employee ​ Asset ​ Other ​ Total ​ ​ Costs ​ Impairment ​ Exit Costs ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at January 1, 2024 ​ $ — ​ $ — ​ $ — ​ $ 27 ​ $ — ​ $ 12 ​ $ 39 Charges ​ ​ 33 ​ ​ 43 ​ ​ 4 ​ ​ 1 ​ ​ ​ ​ ​ 2 ​ ​ 83 Write-down of assets to net realizable value ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ (1) ​ ​ ​ ​ ​ ​ ​ (16) ​ ​ ​ ​ ​ (7) ​ (24) Other, including foreign exchange translation ​ (3) ​ ​ ​ ​ ​ ​ ​ (1) ​ ​ ​ ​ ​ (3) ​ (7) Balance at September 30, 2024 ​ $ 29 ​ $ — ​ $ 4 ​ $ 11 ​ $ — ​ $ 4 ​ $ 48 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Restructuring ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Employee ​ Asset ​ Other ​ Total ​ ​ ​ ​ ​ ​ ​ ​ Costs ​ Impairment ​ Exit Costs ​ Restructuring Balance at January 1, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 17 ​ $ — ​ $ 10 ​ $ 27 Charges ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 28 ​ ​ 43 ​ ​ 7 ​ ​ 78 Write-down of assets to net realizable value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (43) ​ ​ ​ ​ ​ (43) Net cash paid, principally severance and related benefits ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (17) ​ ​ ​ ​ ​ (4) ​ ​ (21) Other, including foreign exchange translation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ ​ ​ ​ (1) ​ ​ (4) Balance at September 30, 2023 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 25 ​ $ — ​ $ 12 ​ $ 37

Pension Benefit Plans (Tables)

Pension Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2024
Pension Benefit Plans.
Defined Benefit Plans and Other Postretirement Benefit Plans
Components of net periodic pension cost	The components of the net periodic pension cost for the three months ended September 30, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ Non-U.S. ​ ​ Three months ended September 30, ​ Three months ended September 30, ​ ​ 2024 2023 2024 2023 Service cost ​ $ 1 ​ $ 2 ​ $ 2 ​ $ 2 ​ Interest cost ​ 11 ​ 11 ​ 9 ​ 9 ​ Expected asset return ​ ​ (13) ​ ​ (14) ​ ​ (8) ​ ​ (7) ​ Amortization of actuarial loss ​ ​ 3 ​ ​ 2 ​ ​ 3 ​ ​ 2 ​ Net periodic pension cost ​ $ 2 ​ $ 1 ​ $ 6 ​ $ 6 ​ ​ The components of the net periodic pension cost for the nine months ended September 30, 2024 and 2023 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. ​ Non-U.S. ​ ​ Nine months ended September 30, ​ Nine months ended September 30, ​ ​ 2024 2023 2024 2023 Service cost ​ $ 4 ​ $ 5 ​ $ 7 ​ $ 6 ​ Interest cost ​ 32 ​ 34 ​ 27 ​ 27 ​ Expected asset return ​ ​ (40) ​ ​ (42) ​ ​ (24) ​ ​ (21) ​ Amortization of actuarial loss ​ ​ 10 ​ ​ 7 ​ ​ 8 ​ ​ 6 ​ Net periodic pension cost ​ $ 6 ​ $ 4 ​ $ 18 ​ $ 18 ​

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt
Long-term Debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ September 30, ​ ​ 2024 2023 2023 ​ Secured Credit Agreement: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Credit Facility: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Loans ​ $ — ​ $ — ​ $ — ​ Term Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Term Loan A ​ ​ 1,392 ​ ​ 1,391 ​ ​ 1,427 ​ Senior Notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.125%, due 2024 (€58 million) ​ ​ 65 ​ ​ 63 ​ ​ 60 ​ 6.375%, due 2025 ​ ​ ​ ​ ​ 299 ​ ​ 298 ​ 5.375%, due 2025 ​ ​ 17 ​ ​ 17 ​ ​ 17 ​ 2.875%, due 2025 (€176 million at September 30, 2024, €500 million at December 31, 2023 and September 30, 2023) ​ ​ 197 ​ ​ 551 ​ ​ 527 ​ 6.625%, due 2027 ​ ​ 609 ​ ​ 608 ​ ​ 608 ​ 6.250%, due 2028 (€600 million) ​ ​ 663 ​ ​ 656 ​ ​ 627 ​ 5.250%, due 2029 (€500 million) ​ ​ 551 ​ ​ ​ ​ ​ ​ ​ 4.750%, due 2030 ​ ​ 397 ​ ​ 396 ​ ​ 396 ​ 7.250%, due 2031 ​ ​ 682 ​ ​ 682 ​ ​ 681 ​ 7.375%, due 2032 ​ ​ 296 ​ ​ ​ ​ ​ ​ ​ Finance leases ​ ​ 198 ​ ​ 174 ​ ​ 164 ​ Other ​ 1 ​ ​ 3 ​ ​ 2 ​ Total long-term debt ​ 5,068 ​ 4,840 ​ ​ 4,807 ​ Less amounts due within one year ​ 359 ​ ​ 142 ​ ​ 53 ​ Long-term debt ​ $ 4,709 ​ $ 4,698 ​ $ 4,754 ​
Fair values of the Company's significant fixed rate debt obligations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Principal ​ Indicated Market ​ ​ ​ ​ Amount Price Fair Value ​ Senior Notes: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.125%, due 2024 (€58 million) ​ $ 65 ​ ​ 99.92 ​ $ 65 ​ 5.375%, due 2025 ​ ​ 17 ​ ​ 99.86 ​ ​ 17 ​ 2.875%, due 2025 (€176 million) ​ ​ 197 ​ ​ 99.57 ​ ​ 196 ​ 6.625%, due 2027 ​ ​ 612 ​ ​ 100.55 ​ ​ 615 ​ 6.250%, due 2028 (€600 million) ​ ​ 670 ​ ​ 104.32 ​ ​ 699 ​ 5.250%, due 2029 (€500 million) ​ ​ 558 ​ ​ 102.27 ​ ​ 571 ​ 4.750%, due 2030 ​ ​ 400 ​ ​ 94.53 ​ ​ 378 ​ 7.250%, due 2031 ​ ​ 690 ​ ​ 102.83 ​ ​ 710 ​ 7.375%, due 2032 ​ ​ 300 ​ ​ 102.14 ​ ​ 306 ​ ​

Share Owners' Equity (Tables)

Share Owners' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Share Owners' Equity
Activity in share owner's equity	The activity in share owners’ equity for the three months ended September 30, 2024 and 2023 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 ​ Interests ​ Equity ​ Balance on July 1, 2024 ​ $ 2 ​ $ 3,069 ​ ​ (685) ​ $ 911 ​ $ (1,794) ​ $ 128 ​ $ 1,631 ​ Reissuance of common stock (0.2 million shares) ​ ​ ​ ​ ​ (2) ​ ​ 4 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Shares repurchased (0.9 million shares) ​ ​ ​ ​ ​ (10) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (10) ​ Stock compensation (0.0 million shares) ​ ​ ​ ​ ​ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3 ​ Net earnings (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (80) ​ ​ ​ ​ ​ 4 ​ (76) ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (69) ​ ​ 1 ​ (68) ​ Balance on September 30, 2024 ​ $ 2 ​ $ 3,060 ​ $ (681) ​ $ 830 ​ $ (1,863) ​ $ 133 ​ $ 1,481 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ Interests ​ Equity Balance on July 1, 2023 ​ $ 2 ​ $ 3,093 ​ $ (687) ​ $ 1,201 ​ $ (1,587) ​ $ 121 ​ $ 2,143 ​ Reissuance of common stock (0.1 million shares) ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2 ​ Shares repurchased (0.5 million shares) ​ ​ ​ ​ ​ (10) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (10) ​ Stock compensation (0.0 million shares) ​ ​ ​ ​ ​ 7 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 7 ​ Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 51 ​ ​ ​ ​ ​ 5 ​ 56 ​ Other comprehensive income (loss) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (86) ​ ​ 1 ​ (85) ​ Balance on September 30, 2023 ​ $ 2 ​ $ 3,090 ​ $ (685) ​ $ 1,252 ​ $ (1,673) ​ $ 127 ​ $ 2,113 ​ ​ ​ ​ The activity in share owners’ equity for the nine months ended September 30, 2024 and 2023 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 ​ Interests ​ Equity Balance on January 1, 2024 ​ $ 2 ​ $ 3,086 ​ $ (681) ​ $ 782 ​ $ (1,580) ​ $ 135 ​ $ 1,744 ​ Reissuance of common stock (0.4 million shares) ​ ​ ​ ​ ​ (5) ​ ​ 14 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Shares repurchased (2.2 million shares) ​ ​ ​ ​ ​ (30) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (30) ​ Stock compensation (1.9 million shares) ​ ​ ​ ​ ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 48 ​ ​ ​ ​ ​ 13 ​ ​ 61 ​ Other comprehensive loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (283) ​ ​ (6) ​ ​ (289) ​ Distributions to non-controlling interests ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (9) ​ ​ (9) ​ Other ​ ​ ​ ​ ​ ​ ​ ​ (14) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (14) ​ Balance on September 30, 2024 ​ $ 2 ​ $ 3,060 ​ $ (681) ​ $ 830 ​ $ (1,863) ​ $ 133 ​ $ 1,481 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ Interests ​ Equity Balance on January 1, 2023 ​ $ 2 ​ $ 3,079 ​ $ (688) ​ $ 885 ​ $ (1,861) ​ $ 111 ​ $ 1,528 ​ Issuance of common stock (0.4 million shares) ​ ​ ​ ​ ​ 5 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 5 ​ Reissuance of common stock (0.4 million shares) ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 9 ​ Shares repurchased (1.4 million shares) ​ ​ ​ ​ ​ (30) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (30) ​ Stock compensation (0.7 million shares) ​ ​ ​ ​ ​ 36 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 36 ​ Net earnings ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 367 ​ ​ ​ ​ ​ 12 ​ 379 ​ Other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 188 ​ ​ 7 ​ 195 ​ Distributions to non-controlling interests ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) ​ ​ (3) ​ Other ​ ​ ​ ​ ​ ​ ​ ​ (6) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (6) ​ Balance on September 30, 2023 ​ $ 2 ​ $ 3,090 ​ $ (685) ​ $ 1,252 ​ $ (1,673) ​ $ 127 ​ $ 2,113 ​
Schedule of shares outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Shares Outstanding (in thousands) ​ ​ September 30, ​ December 31, ​ September 30, ​ 2024 2023 2023 ​ ​ ​ ​ ​ ​ ​ ​ Shares of common stock issued (including treasury shares) 185,610 ​ 185,009 ​ 185,632 ​ ​ ​ ​ ​ ​ ​ ​ ​ Treasury shares 30,963 ​ 30,755 ​ 30,905 ​

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2024
Accumulated Other Comprehensive Loss
Component of accumulated other comprehensive income (loss)	The activity in accumulated other comprehensive loss for the three months ended September 30, 2024 and 2023 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, 2024 ​ $ (1,194) ​ $ (24) ​ $ (576) ​ $ (1,794) ​ Change before reclassifications ​ (42) ​ ​ (17) ​ ​ (20) ​ (79) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ (2) (a) 6 (b) 4 ​ Translation effect ​ ​ ​ ​ ​ (1) ​ ​ 8 ​ ​ 7 ​ Tax effect ​ ​ ​ ​ ​ ​ ​ ​ (1) ​ ​ (1) ​ Other comprehensive loss attributable to the Company ​ (42) ​ (20) ​ (7) ​ (69) ​ Balance on September 30, 2024 ​ $ (1,236) ​ $ (44) ​ $ (583) ​ $ (1,863) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on July 1, 2023 ​ $ (971) ​ $ (28) ​ $ (588) ​ $ (1,587) Change before reclassifications ​ (105) ​ ​ 11 ​ ​ ​ ​ (94) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ (6) (a) 5 (b) (1) ​ Translation effect ​ ​ ​ ​ ​ 3 ​ ​ 5 ​ ​ 8 ​ Tax effect ​ ​ ​ ​ ​ 2 ​ ​ (1) ​ ​ 1 ​ Other comprehensive income (loss) attributable to the Company ​ (105) ​ 10 ​ 9 ​ (86) ​ Balance on September 30, 2023 ​ $ (1,076) ​ $ (18) ​ $ (579) ​ $ (1,673) ​ (a) Amount is recorded to cost of goods sold and interest expense, net on the Condensed Consolidated Results of Operations (see Note 5 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 7 for additional information) and net post-retirement benefit cost. ​ The activity in accumulated other comprehensive loss for the nine months ended September 30, 2024 and 2023 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, 2024 ​ $ (949) ​ $ (43) ​ $ (588) ​ $ (1,580) Change before reclassifications ​ (287) ​ ​ 5 ​ ​ (21) ​ (303) ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ (5) (a) 18 (b) 13 ​ Translation effect ​ ​ ​ ​ ​ (1) ​ ​ 10 ​ ​ 9 ​ Tax effect ​ ​ ​ ​ ​ ​ ​ (2) ​ (2) ​ Other comprehensive income (loss) attributable to the Company ​ (287) ​ (1) ​ 5 ​ (283) ​ Balance on September 30, 2024 ​ $ (1,236) ​ $ (44) ​ $ (583) ​ $ (1,863) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated ​ ​ Net Effect of ​ Change in Certain ​ ​ ​ ​ Other ​ ​ ​ Exchange Rate ​ Derivative ​ Employee ​ Comprehensive ​ ​ Fluctuations Instruments Benefit Plans Loss Balance on January 1, 2023 ​ $ (1,280) ​ $ 4 ​ $ (585) ​ $ (1,861) Change before reclassifications ​ 204 ​ ​ (15) ​ ​ (1) ​ 188 ​ Amounts reclassified from accumulated other comprehensive income (loss) ​ ​ ​ ​ ​ (15) (a) 13 (b) (2) ​ Translation effect ​ ​ ​ ​ ​ 3 ​ ​ (5) ​ ​ (2) ​ Tax effect ​ ​ ​ ​ ​ 5 ​ (1) ​ 4 ​ Other comprehensive income (loss) attributable to the Company ​ 204 ​ (22) ​ 6 ​ 188 ​ Balance on September 30, 2023 ​ $ (1,076) ​ $ (18) ​ $ (579) ​ $ (1,673) ​ (a) Amount is recorded to cost of goods sold and interest expense, net on the Condensed Consolidated Results of Operations (see Note 5 for additional information). (b) Amount is included in the computation of net periodic pension cost (see Note 7 for additional information) and net post-retirement benefit cost.

Other Expense, Net (Tables)

Other Expense, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Other Expense, Net
Schedule of other income (expense), net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ 2024 2023 2024 2023 Restructuring, asset impairment and other charges ​ $ (81) ​ $ (81) ​ $ (81) ​ $ (81) Legacy environmental charge ​ ​ (1) ​ ​ ​ ​ ​ (11) ​ ​ ​ Gain on sale of miscellaneous assets ​ ​ 1 ​ ​ ​ ​ ​ 1 ​ ​ ​ Intangible amortization expense ​ ​ (7) ​ ​ (8) ​ ​ (22) ​ ​ (24) Foreign currency exchange loss ​ ​ 3 ​ ​ (1) ​ ​ ​ ​ ​ (2) Royalty income ​ ​ 4 ​ ​ 6 ​ ​ 16 ​ ​ 19 Other income (expense) ​ ​ (1) ​ ​ (2) ​ ​ (1) ​ ​ (18) Other expense, net ​ $ (82) ​ $ (86) ​ $ (98) ​ $ (106) ​

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share
Computation of basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ 2024 2023 Numerator: ​ ​ Net earnings (loss) attributable to the Company ​ $ (80) ​ $ 51 Denominator (in thousands): ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share-weighted average shares outstanding ​ 154,619 ​ ​ 154,702 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Stock options and other ​ ​ ​ 4,583 Denominator for diluted earnings per share-adjusted weighted average shares outstanding ​ 154,619 ​ ​ 159,285 Basic earnings per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) attributable to the Company ​ $ (0.52) ​ $ 0.33 Diluted earnings per share: ​ ​ ​ ​ ​ ​ Net earnings (loss) attributable to the Company ​ $ (0.52) ​ $ 0.32 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ 2024 2023 Numerator: ​ ​ ​ Net earnings attributable to the Company ​ $ 48 ​ $ 367 Denominator (in thousands): ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share-weighted average shares outstanding ​ 154,724 ​ 154,796 Effect of dilutive securities: ​ ​ ​ ​ ​ ​ Stock options and other ​ 2,813 ​ 4,440 Denominator for diluted earnings per share-adjusted weighted average shares outstanding ​ 157,537 ​ 159,236 Basic earnings per share: ​ ​ ​ ​ ​ ​ Net earnings attributable to the Company ​ $ 0.31 ​ $ 2.37 Diluted earnings per share: ​ ​ ​ ​ ​ ​ Net earnings attributable to the Company ​ $ 0.31 ​ $ 2.31

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2024
Supplemental Cash Flow Information
Income taxes paid (received) in cash	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, ​ ​ 2024 2023 U.S. ​ $ 8 ​ $ 12 ​ Non-U.S. ​ 123 ​ 101 ​ Total income taxes paid in cash ​ $ 131 ​ $ 113 ​

Segment Information (Details)

Segment Information (Details)	9 Months Ended
	Sep. 30, 2024 segment
Segment Information
Number of reportable segments	2
Number of operating segments	2

Segment Information - Net Sales

Segment Information - Net Sales by Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales:
Net sales	$ 1,679	$ 1,743	$ 5,002	$ 5,464
Reportable segment totals
Net sales:
Net sales	1,646	1,714	4,909	5,371
Other
Net sales:
Net sales	33	29	93	93
Americas
Net sales:
Net sales	940	948	2,693	2,943
Americas | Reportable segment totals
Net sales:
Net sales	940	948	2,693	2,943
Europe
Net sales:
Net sales	706	766	2,216	2,428
Europe | Reportable segment totals
Net sales:
Net sales	$ 706	$ 766	$ 2,216	$ 2,428

Segment Information - Segment O

Segment Information - Segment Operating Profits and Reporting Segments Totals (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment operating profit:
Earnings before income taxes	$ (57)	$ 82	$ 163	$ 506
Items excluded from segment operating profit:
Retained corporate costs and other	31	60	104	175
Restructuring, asset impairment and other charges	83	81	83	81
Gain on sale of miscellaneous assets	(1)		(1)
Legacy environmental charge	1		11
Interest expense, net	87	78	252	263
Segment operating profit
Segment operating profit	144	301	612	1,025
Americas
Segment operating profit
Segment operating profit	88	116	296	419
Europe
Segment operating profit
Segment operating profit	$ 56	$ 185	$ 316	$ 606

Segment Information - Total Ass

Segment Information - Total Assets (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Assets
Total assets:	$ 9,372	$ 9,669	$ 9,735
Reportable segment totals
Assets
Total assets:	8,809	9,167	9,183
Other
Assets
Total assets:	563	502	552
Americas | Reportable segment totals
Assets
Total assets:	4,882	5,218	5,474
Europe | Reportable segment totals
Assets
Total assets:	$ 3,927	$ 3,949	$ 3,709

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Net sales	$ 1,679	$ 1,743	$ 5,002	$ 5,464
Reportable Segment Totals
Disaggregation of Revenue
Net sales	1,646	1,714	4,909	5,371
Americas
Disaggregation of Revenue
Net sales	940	948	2,693	2,943
Europe
Disaggregation of Revenue
Net sales	706	766	2,216	2,428
Other
Disaggregation of Revenue
Net sales	33	29	93	93
Alcoholic beverages (beer, wine, spirits)
Disaggregation of Revenue
Net sales	1,031	1,122	3,110	3,568
Alcoholic beverages (beer, wine, spirits) | Americas
Disaggregation of Revenue
Net sales	530	557	1,492	1,752
Alcoholic beverages (beer, wine, spirits) | Europe
Disaggregation of Revenue
Net sales	501	565	1,618	1,816
Food and other
Disaggregation of Revenue
Net sales	354	336	1,023	1,035
Food and other | Americas
Disaggregation of Revenue
Net sales	226	208	660	651
Food and other | Europe
Disaggregation of Revenue
Net sales	128	128	363	384
Non-alcoholic beverages
Disaggregation of Revenue
Net sales	261	256	776	768
Non-alcoholic beverages | Americas
Disaggregation of Revenue
Net sales	184	183	541	540
Non-alcoholic beverages | Europe
Disaggregation of Revenue
Net sales	$ 77	$ 73	$ 235	$ 228

Credit Losses (Details)

Credit Losses (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Credit Losses
Accounts receivable, net	$ 794	$ 671	$ 766
Allowance for doubtful accounts	$ 32	$ 30	$ 33

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Inventories
Finished goods	$ 824	$ 868	$ 894
Raw materials	175	151	152
Operating supplies	51	52	52
Inventories	$ 1,050	$ 1,071	$ 1,098

Derivative Instruments - Deriva

Derivative Instruments - Derivatives and Hedges (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Commodity forward contracts and collars | Cash Flow Hedges
Derivatives and Hedges
Unrecognized gain (loss) included in Accumulated OCI	$ (4)	$ (8)	$ 0
Foreign exchange risk | Cash Flow Hedges
Derivatives and Hedges
Unrecognized gain (loss) included in Accumulated OCI	0	0	0
Foreign exchange risk | Fair Value Hedges
Derivatives and Hedges
Amount excluded from assessment of effectiveness and included in Accumulated OCI	$ 0	$ 1	$ 2

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet Classification (Details) € in Millions, $ / BTU in Millions, $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) $ / BTU	Sep. 30, 2023 USD ($) $ / BTU	Dec. 31, 2023 USD ($) $ / BTU	Sep. 30, 2024 EUR (€)	Dec. 31, 2023 EUR (€)	Sep. 30, 2023 EUR (€)
Derivatives, Fair Value
Total asset derivatives	$ 17	$ 14	$ 13
Total liability derivatives	188	129	190
Current derivative asset	17	14	13
Current derivative liability	12	21	17
Noncurrent derivative liability	176	108	173
Derivatives designated as hedging instruments
Derivatives, Fair Value
Total asset derivatives	6	11	8
Total liability derivatives	$ 185	$ 115	$ 181
Derivatives designated as hedging instruments | Commodity forward contracts and collars
Derivatives, Fair Value
British Thermal Units ("BTUs") | $ / BTU	30	40	38
Total liability derivatives	$ 10	$ 13	$ 14
Derivatives designated as hedging instruments | Foreign exchange risk
Derivatives, Fair Value
Notional amount	833	844	833
Total asset derivatives	4	7	4
Total liability derivatives	118	72	111
Derivatives designated as hedging instruments | Net investment hedges
Derivatives, Fair Value
Notional amount | €				€ 483	€ 483	€ 483
Total asset derivatives	2	4	4
Total liability derivatives	57	30	56
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivatives, Fair Value
Notional amount	628	493	407
Total asset derivatives	11	3	5
Total liability derivatives	$ 3	$ 14	$ 9

Derivative Instruments - Effect

Derivative Instruments - Effects of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives not designated as hedging instruments | Foreign exchange contracts
Derivatives and Hedges
Amount of Gain (Loss) Recognized in Other expense, net	$ 13	$ (3)	$ (3)	$ (9)
Derivatives designated as hedging instruments
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(23)	12	(6)	(24)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(2)	(6)		(15)
Amount of Gain (Loss) Recognized in Other expense, net			(5)
Derivatives designated as hedging instruments | Net Investment Hedges | Interest expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(21)	12		2
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	1	2	4	4
Derivatives designated as hedging instruments | Commodity forward contracts and collars | Cash Flow Hedges | Cost of goods sold
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(2)		(6)	(23)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ (3)	(6)	$ (9)	(17)
Derivatives designated as hedging instruments | Foreign exchange risk | Cash Flow Hedges | Cost of goods sold
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)				(3)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		$ (2)		$ (2)

Restructuring Accruals (Details

Restructuring Accruals (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring accrual
Beginning balance, restructuring reserve	$ 24	$ 17	$ 39	$ 27
Charges	83	78	83	78
Write-down of assets to net realizable value	(43)	(43)	(43)	(43)
Net cash paid, principally severance and related benefits	(9)	(11)	(24)	(21)
Other, including foreign exchange translation	(7)	(4)	(7)	(4)
Ending balance, restructuring reserve	48	37	48	37
Restructuring, Additional Information
Carrying value of impaired assets	0	0	0	0
Americas
Restructuring accrual
Charges	72		72
Other
Restructuring accrual
Charges	11		11
Other income (expense)
Restructuring accrual
Charges	81	78	81	78
Other income (expense) | Americas
Restructuring accrual
Charges		77		77
Other income (expense) | Europe
Restructuring accrual
Charges		1		1
Equity earnings
Restructuring accrual
Charges	2		2
Fit to Win Restructuring Program
Restructuring accrual
Charges	80		80
Fit to Win Restructuring Program | Other income (expense)
Restructuring, Additional Information
Cumulative charges			80
Fit to Win Restructuring Program | Employee Costs
Restructuring accrual
Charges	33		33
Net cash paid, principally severance and related benefits	(1)		(1)
Other, including foreign exchange translation	(3)		(3)
Ending balance, restructuring reserve	29		29
Fit to Win Restructuring Program | Asset Impairment
Restructuring accrual
Charges	43		43
Write-down of assets to net realizable value	(43)		(43)
Fit to Win Restructuring Program | Other Exit Costs
Restructuring accrual
Charges	4		4
Ending balance, restructuring reserve	4		4
Other Restructuring | Employee Costs
Restructuring accrual
Beginning balance, restructuring reserve	15	11	27	17
Charges	1	28	1	28
Net cash paid, principally severance and related benefits	(4)	(11)	(16)	(17)
Other, including foreign exchange translation	(1)	(3)	(1)	(3)
Ending balance, restructuring reserve	11	25	11	25
Other Restructuring | Asset Impairment
Restructuring accrual
Charges		43		43
Write-down of assets to net realizable value		(43)		(43)
Other Restructuring | Other Exit Costs
Restructuring accrual
Beginning balance, restructuring reserve	9	6	12	10
Charges	2	7	2	7
Net cash paid, principally severance and related benefits	(4)		(7)	(4)
Other, including foreign exchange translation	(3)	(1)	(3)	(1)
Ending balance, restructuring reserve	$ 4	$ 12	$ 4	$ 12

Pension Benefit Plans (Details)

Pension Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Components of net periodic pension cost
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Pension Benefit Plans.
Components of net periodic pension cost
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]			Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]			Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Pension Benefit Plans. | U.S.
Components of net periodic pension cost
Service cost	$ 1	$ 2	$ 4	$ 5
Interest cost	11	11	32	34
Expected asset return	(13)	(14)	(40)	(42)
Actuarial loss	3	2	10	7
Net postretirement benefit (income) cost	2	1	6	4
Pension Benefit Plans. | Non-U.S.
Components of net periodic pension cost
Service cost	2	2	7	6
Interest cost	9	9	27	27
Expected asset return	(8)	(7)	(24)	(21)
Actuarial loss	3	2	8	6
Net postretirement benefit (income) cost	$ 6	$ 6	$ 18	$ 18

Income Taxes (Details)

Income Taxes (Details)	9 Months Ended
	Sep. 30, 2024
Income Taxes.
Statutory U.S. Federal tax rate (as a percent)	21%

Debt (Details)

Debt (Details) $ / shares in Units, € in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) agreement $ / shares	Sep. 30, 2024 EUR (€)	May 31, 2024 USD ($)	May 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 EUR (€)	Aug. 31, 2023 USD ($)	May 31, 2023 USD ($)	May 31, 2023 EUR (€)	May 26, 2023 USD ($)	May 26, 2023 EUR (€)	Aug. 30, 2022 USD ($)	Mar. 25, 2022 USD ($)
Debt Instrument
Total long-term debt			$ 5,068				$ 4,840		$ 4,807
Less amounts due within one year			359				142		53
Long-term debt			4,709				4,698		4,754
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees	$ 2	$ 39
Maximum Borrowing Capacity																	$ 2,800
Secured Credit Agreement
Debt Instrument
Unused Credit			$ 1,240
Number of financial maintenance covenants | agreement			1
Additional default interest rate per annum applied to all obligations owed under the Agreement			2%
Secured Credit Agreement | Minimum
Debt Instrument
Interest rate margin, Term SOFR loans and Euro currency rate loans			1%	1%
Interest rate margin, Base Rate loans (as a percent)			0%
Facility fee payable (as a percent)			0.20%
Secured Credit Agreement | Maximum
Debt Instrument
Interest rate margin, Term SOFR loans and Euro currency rate loans			2.25%	2.25%
Interest rate margin, Base Rate loans (as a percent)			1.25%
Leverage Ratio			2.50
Facility fee payable (as a percent)			0.35%
Revolving Loans
Debt Instrument
Weighted average interest rate (as a percent)			6.37%	6.37%
Term Loan A
Debt Instrument
Total long-term debt			$ 1,392				1,391		1,427
Maximum Borrowing Capacity			1,450
Senior Notes 5.875%, due 2023
Debt Instrument
Total long-term debt											$ 108			$ 142
Interest rate, stated percentage											5.875%			5.875%	5.875%
3.125%, due 2024 (€58 million at June 30, 2024 and December 31, 2023 and €725 million at June 30, 2023)
Debt Instrument
Total long-term debt			$ 65	€ 58			63	€ 58	60	€ 58					€ 666.7
Interest rate, stated percentage			3.125%	3.125%										3.125%	3.125%
Fair values of fixed rate debt obligations
Principal Amount			$ 65
Indicated Market Price (in dollars per share) | $ / shares			$ 99.92
Fair Value			$ 65
Senior Notes 6.375%, due 2025
Debt Instrument
Total long-term debt					$ 300		299		298
Interest rate, stated percentage			6.375%	6.375%	6.375%	6.375%
Senior Notes, 5.375% due 2025
Debt Instrument
Total long-term debt			$ 17				17		17					$ 282.8
Interest rate, stated percentage	5.375%		5.375%	5.375%										5.375%	5.375%
Fair values of fixed rate debt obligations
Principal Amount			$ 17
Indicated Market Price (in dollars per share) | $ / shares			$ 99.86
Fair Value			$ 17
2.875%, due 2025 (€176 million at June 30, 2024, €500 million at December 31, 2023 and June 30, 2023)
Debt Instrument
Total long-term debt			$ 197	€ 176		€ 323.4	551	€ 500	527	€ 500
Interest rate, stated percentage			2.875%	2.875%	2.875%	2.875%
Fair values of fixed rate debt obligations
Principal Amount			$ 197
Indicated Market Price (in dollars per share) | $ / shares			$ 99.57
Fair Value			$ 196
Senior Notes 6.625%, due 2027
Debt Instrument
Total long-term debt			$ 609	€ 600			608		608
Interest rate, stated percentage			6.625%	6.625%
Fair values of fixed rate debt obligations
Principal Amount			$ 612
Indicated Market Price (in dollars per share) | $ / shares			$ 100.55
Fair Value			$ 615
6.250%, due 2028 (€600 million)
Debt Instrument
Total long-term debt			$ 663	€ 600			656		627
Interest rate, stated percentage			6.25%	6.25%								6.25%	6.25%
Face value | €													€ 600
Fair values of fixed rate debt obligations
Principal Amount			$ 670
Indicated Market Price (in dollars per share) | $ / shares			$ 104.32
Fair Value			$ 699
5.250%, due 2029 (€500 million)
Debt Instrument
Total long-term debt			$ 551	€ 500
Interest rate, stated percentage			5.25%	5.25%	5.25%	5.25%
Face value | €						€ 500
Fair values of fixed rate debt obligations
Principal Amount			$ 558
Indicated Market Price (in dollars per share) | $ / shares			$ 102.27
Fair Value			$ 571
Senior Notes 4.750%, due 2030
Debt Instrument
Total long-term debt			$ 397				396		396
Interest rate, stated percentage			4.75%	4.75%
Fair values of fixed rate debt obligations
Principal Amount			$ 400
Indicated Market Price (in dollars per share) | $ / shares			$ 94.53
Fair Value			$ 378
Senior Notes 7.250% due 2031
Debt Instrument
Total long-term debt			$ 682				682		681
Interest rate, stated percentage			7.25%	7.25%								7.25%	7.25%
Face value												$ 690
Fair values of fixed rate debt obligations
Principal Amount			$ 690
Indicated Market Price (in dollars per share) | $ / shares			$ 102.83
Fair Value			$ 710
Senior Notes 7.375% due 2032
Debt Instrument
Total long-term debt			$ 296
Interest rate, stated percentage			7.375%	7.375%	7.375%	7.375%
Face value					$ 300
Fair values of fixed rate debt obligations
Principal Amount			$ 300
Indicated Market Price (in dollars per share) | $ / shares			$ 102.14
Fair Value			$ 306
Finance leases
Debt Instrument
Total long-term debt			198				174		164
Other debt
Debt Instrument
Total long-term debt			1				$ 3		$ 2
Revolving Credit Facility
Debt Instrument
Maximum Borrowing Capacity			300
Delayed draw term loan facility
Debt Instrument
Maximum Borrowing Capacity																	$ 600
Term loans in aggregate
Debt Instrument
Maximum Borrowing Capacity																$ 500
Multicurrency Revolving Credit Facility
Debt Instrument
Maximum Borrowing Capacity			$ 950

Contingencies - Other Matters (

Contingencies - Other Matters (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Nov. 30, 2023 item	Sep. 30, 2023 USD ($)
Other Matters
Legacy environmental charge	$ 1	$ 11
Number of glass manufacturers | item				9
O-I Italy SpA
Other Matters
General ownership percentage for equity method investments				50%
Superfund sites
Other Matters
Loss contingency accrual	35	35	$ 26		$ 26
Cuyahoga Valley National Park
Other Matters
Anticipated future costs	$ 50	50
Cuyahoga Valley National Park | Other Expense
Other Matters
Loss contingency charge		$ 11

Share Owners' Equity - Rollforw

Share Owners' Equity - Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Share Owners' Equity
Balance	$ 1,631	$ 2,143	$ 1,744	$ 1,528
Issuance of common stock				5
Reissuance of common stock	2	2	9	9
Shares repurchased	(10)	(10)	(30)	(30)
Stock compensation	3	7	9	36
Net earnings (loss)	(76)	56	61	379
Other comprehensive income (loss)	(68)	(85)	(289)	195
Distributions to non-controlling interests			(9)	(3)
Other			(14)	(6)
Balance	1,481	2,113	1,481	2,113
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	3,069	3,093	3,086	3,079
Issuance of common stock				5
Reissuance of common stock	(2)		(5)
Shares repurchased	(10)	(10)	(30)	(30)
Stock compensation	3	7	9	36
Balance	3,060	3,090	3,060	3,090
Treasury Stock
Increase (Decrease) in Share Owners' Equity
Balance	(685)	(687)	(681)	(688)
Reissuance of common stock	4	2	14	9
Other			(14)	(6)
Balance	(681)	(685)	(681)	(685)
Retained Earnings
Increase (Decrease) in Share Owners' Equity
Balance	911	1,201	782	885
Net earnings (loss)	(80)	51	48	367
Balance	830	1,252	830	1,252
Accumulated Other Comprehensive Loss.
Increase (Decrease) in Share Owners' Equity
Balance	(1,794)	(1,587)	(1,580)	(1,861)
Other comprehensive income (loss)	(69)	(86)	(283)	188
Balance	(1,863)	(1,673)	(1,863)	(1,673)
Non-Controlling Interests
Increase (Decrease) in Share Owners' Equity
Balance	128	121	135	111
Net earnings (loss)	4	5	13	12
Other comprehensive income (loss)	1	1	(6)	7
Distributions to non-controlling interests			(9)	(3)
Balance	$ 133	$ 127	$ 133	$ 127

Share Owners' Equity - Rollfo_2

Share Owners' Equity - Rollforward Shares (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share Owners' Equity
Issuance of common stock (in shares)				400,000
Reissuance of common stock (in shares)	200,000	100,000	400,000	400,000
Shares repurchased (in shares)	926,757	500,000	2,200,000	1,400,000
Stock compensation (in shares)	0	0	1,900,000	700,000

Share Owners' Equity - Share Re

Share Owners' Equity - Share Repurchase (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	May 14, 2024
Share Owners' Equity
Shares repurchased	$ 10	$ 10	$ 30	$ 30
Shares repurchased (in shares)	926,757	500,000	2,200,000	1,400,000
Stock repurchase plan authorized					$ 100
Remaining repurchase of common stock available	$ 90		$ 90

Share Owners' Equity -Authoriza

Share Owners' Equity -Authorization of Common Stock (Details) - $ / shares	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Authorization of common stock
Shares of common stock authorized	250,000,000	250,000,000	250,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Shares of common stock issued (including treasury shares)	185,610,000	185,009,000	185,632,000
Treasury shares	30,963,000	30,755,000	30,905,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Other comprehensive income (loss)	$ (68)	$ (85)	$ (289)	$ 195
Net Effect of Exchange Rate Fluctuations
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,194)	(971)	(949)	(1,280)
Change before reclassifications	(42)	(105)	(287)	204
Other comprehensive income (loss)	(42)	(105)	(287)	204
Balance at end of the period	(1,236)	(1,076)	(1,236)	(1,076)
Change in Certain Derivative Instruments
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(24)	(28)	(43)	4
Change before reclassifications	(17)	11	5	(15)
Amounts reclassified from accumulated other comprehensive income	(2)	(6)	(5)	(15)
Translation effect	(1)	3	(1)	3
Tax effect		2		5
Other comprehensive income (loss)	(20)	10	(1)	(22)
Balance at end of the period	(44)	(18)	(44)	(18)
Employee Benefit Plans
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(576)	(588)	(588)	(585)
Change before reclassifications	(20)		(21)	(1)
Amounts reclassified from accumulated other comprehensive income	6	5	18	13
Translation effect	8	5	10	(5)
Tax effect	(1)	(1)	(2)	(1)
Other comprehensive income (loss)	(7)	9	5	6
Balance at end of the period	(583)	(579)	(583)	(579)
Accumulated Other Comprehensive Loss.
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,794)	(1,587)	(1,580)	(1,861)
Change before reclassifications	(79)	(94)	(303)	188
Amounts reclassified from accumulated other comprehensive income	4	(1)	13	(2)
Translation effect	7	8	9	(2)
Tax effect	(1)	1	(2)	4
Other comprehensive income (loss)	(69)	(86)	(283)	188
Balance at end of the period	$ (1,863)	$ (1,673)	$ (1,863)	$ (1,673)

Other Expense, Net (Details)

Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Expense, Net
Restructuring, asset impairment and other charges	$ (81)	$ (81)	$ (81)	$ (81)
Legacy environmental charge	(1)		(11)
Gain on sale of miscellaneous assets	1		1
Intangible amortization expense	(7)	(8)	(22)	(24)
Foreign currency exchange loss	3	(1)		(2)
Royalty income	4	6	16	19
Other income (expense)	(1)	(2)	(1)	(18)
Other expense, net	$ (82)	$ (86)	$ (98)	$ (106)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net earnings (loss) attributable to the Company	$ (80)	$ 51	$ 48	$ 367
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding	154,619,000	154,702,000	154,724,000	154,796,000
Effect of dilutive securities:
Stock options and other (in shares)		4,583,000	2,813,000	4,440,000
Denominator for diluted earnings per share-adjusted weighted average shares outstanding	154,619,000	159,285,000	157,537,000	159,236,000
Basic earnings per share:
Net earnings (loss) attributable to the Company (in dollars per share)	$ (0.52)	$ 0.33	$ 0.31	$ 2.37
Diluted earnings per share:
Net earnings (loss) attributable to the Company (in dollars per share)	$ (0.52)	$ 0.32	$ 0.31	$ 2.31
Weighted average shares of common stock attributable to options not included in diluted earnings per share (in shares)	1,185,925	371,052	1,076,542	380,047

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Supplemental Cash Flow Information
Amount of receivables sold	$ 544	$ 536	$ 542
Receivables sold under supply chain factoring program	237	179	178
Interest paid in cash	237	222
Interest paid in cash related to note repurchase premiums		3
Increase or decrease to cash from operating activities from factoring programs	2	(1)
Expense due to factoring program	19	17
Outstanding payment obligations to the financial institutions as part of SCF Programs	92	119	$ 113
Income taxes paid in cash
Income taxes paid in cash	131	113
U.S. operations
Income taxes paid in cash
Income taxes paid in cash	8	12
Non-U.S.
Income taxes paid in cash
Income taxes paid in cash	$ 123	$ 101