Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2026 shares
Cover
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
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	153,299,563
Entity Central Index Key	0000812074
Amendment Flag	false
Document Fiscal Year Focus	2026
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1

CONSOLIDATED RESULTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
CONSOLIDATED RESULTS OF OPERATIONS
Net sales	$ 1,540	$ 1,567
Revenue, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember
Cost of goods sold	$ (1,341)	$ (1,287)
Gross profit	199	280
Selling and administrative expense	(99)	(109)
Research, development and engineering expense	(9)	(13)
Interest expense, net	(79)	(81)
Equity earnings	26	23
Other expense, net	(91)	(82)
Earnings (loss) before income taxes	(53)	18
Provision for income taxes	(18)	(30)
Net loss	(71)	(12)
Net earnings attributable to noncontrolling interests	(2)	(4)
Net loss attributable to the Company	$ (73)	$ (16)
Basic earnings (loss) per share:
Net loss attributable to the Company (in dollars per share)	$ (0.48)	$ (0.1)
Weighted average shares outstanding (thousands) (in shares)	152,683	153,708
Diluted earnings (loss) per share:
Net loss attributable to the Company (in dollars per share)	$ (0.48)	$ (0.1)
Weighted average diluted shares outstanding (thousands) (in shares)	152,683	153,708

CONSOLIDATED COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
CONSOLIDATED COMPREHENSIVE INCOME (LOSS)
Net loss	$ (71)	$ (12)
Other comprehensive income (loss):
Foreign currency translation adjustments	23	97
Pension and other postretirement benefit adjustments, net of tax	8	(3)
Change in fair value of derivative instruments, net of tax	34	(28)
Other comprehensive income	65	66
Total comprehensive income (loss)	(6)	54
Comprehensive income attributable to noncontrolling interests	(5)	(9)
Comprehensive income (loss) attributable to the Company	$ (11)	$ 45

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
Current assets:
Cash and cash equivalents	$ 317	$ 759	$ 424
Trade receivables, net of allowance of $32 million, $31 million, and $32 million at March 31, 2026, December 31, 2025 and March 31, 2025	805	601	758
Inventories	1,003	1,002	985
Prepaid expenses and other current assets	259	239	224
Total current assets	2,384	2,601	2,391
Property, plant and equipment, net	3,420	3,447	3,381
Goodwill	1,469	1,487	1,365
Intangibles, net	181	188	193
Other assets	1,496	1,520	1,399
Total assets	8,950	9,243	8,729
Current liabilities:
Accounts payable	1,057	1,201	1,026
Short-term loans and long-term debt due within one year	160	162	226
Other liabilities	677	726	679
Total current liabilities	1,894	2,089	1,931
Long-term debt	4,800	4,837	4,786
Other long-term liabilities	824	872	763
Share owners' equity	1,432	1,445	1,249
Total liabilities and share owners' equity	$ 8,950	$ 9,243	$ 8,729

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
CONSOLIDATED BALANCE SHEETS
Trade receivables allowance	$ 32	$ 31	$ 32

CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	3 Months Ended
CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Operating activities:
Net loss	$ (71)	$ (12)
Non-cash charges (credits):
Depreciation and amortization	119	118
Pension expense	9	7
Stock-based compensation expense	5	4
Restructuring, asset impairment and related charges	38	82
Legacy environmental charge		4
(Gain) loss on sale of joint venture and miscellaneous assets	46	(6)
Pension contributions	(10)	(7)
Cash paid for restructuring activities	(35)	(28)
Change in components of working capital	(376)	(314)
Other, net (a)	(19)	(19)
Cash utilitzed in operating activities	(294)	(171)
Investing activities:
Cash payments for property, plant and equipment	(142)	(135)
Net cash proceeds on sale of joint venture and miscellaneous assets	5	13
Net cash proceeds (payments) for hedging activity	(2)	2
Cash utilized in investing activities	(139)	(120)
Financing activities:
Additions to long-term debt	23	362
Repayments of long-term debt	(27)	(387)
Increase (decrease) in short-term loans	(1)	9
Shares repurchased	(10)	(10)
Other, net (b)	(4)	(7)
Cash utilized in financing activities	(19)	(33)
Effect of exchange rate fluctuations on cash	10	14
Change in cash	(442)	(310)
Cash at beginning of period	759	734
Cash at end of period	$ 317	$ 424

Segment Information

3 Months Ended

Mar. 31, 2026

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 two 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 is a non-GAAP financial measure that 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. The Company’s management, including the chief operating decision maker (defined as the Chief Executive Officer), uses segment operating profit, supplemented by net sales and selected cash flow information, to evaluate segment performance and allocate resources. Segment operating profit for reportable segments includes an allocation of some corporate expenses based on both a percentage of sales and direct billings based on the costs of specific services provided. Segment operating profit is not a recognized term under 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.

In accordance with ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” the Company has disclosed significant segment expenses reviewed by its chief operating decision maker. Other segment expenses (income) includes intangible amortization expense (Americas only), foreign currency exchange gains or losses, certain overhead expenses and other gains or losses.

Financial information for the three months ended March 31, 2026 and 2025 regarding the Company’s reportable segments is as follows, as well as a reconciliation of segment operating profit to earnings (loss) before income taxes:


		Three months ended March 31,
		2026							2025
			Americas		Europe		Total			Americas		Europe		Total
Reportable segment net sales		$	871	$	655	$	1,526		$	873	$	667	$	1,540
Other							14							27
Net Sales						$	1,540						$	1,567
Less:
Cost of goods sold			706		622					703		558
Selling, administrative, engineering and research and development expenses			36		39					43		46
Equity earnings			(20)		(6)					(19)		(4)
Other segment expenses (income)			7							5		(1)
Segment operating profit		$	142	$	—	$	142		$	141	$	68	$	209
Items excluded from segment operating profit:
Reconciliation of segment operating profit
Retained corporate costs and other							(32)							(30)
Restructuring, asset impairment and other charges							(38)							(82)
Legacy environmental charge														(4)
Gain (loss) on sale of joint venture and miscellaneous assets							(46)							6
Interest expense, net							(79)							(81)
Earnings (loss) before income taxes						$	(53)						$	18


		As of March 31,
								Reportable			Retained			Consoli-
								Segment			Corp Costs			dated
		Americas			Europe			Totals			and Other			Totals
Total assets:
2026		$	4,757		$	3,873		$	8,630		$	320		$	8,950
2025			4,707			3,682			8,389			340			8,729
Equity investments:
2026		$	474		$	213		$	687		$	33		$	720
2025			456			193			649			34			683


		Three months ended March 31,
								Reportable			Retained			Consoli-
								Segment			Corp Costs			dated
		Americas			Europe			Totals			and Other			Totals
Equity earnings:
2026		$	20		$	6		$	26		$	—		$	26
2025			19			4			23			—			23
Capital expenditures:
2026		$	65		$	76		$	141		$	1		$	142
2025			62			72			134			1			135
Depreciation and amortization expense:
2026		$	71		$	42		$	113		$	3		$	116
2025			73			37			110			5			115

The Company’s tangible long-lived assets, including property, plant and equipment and operating lease right-of-use assets, by geographic region are as follows:


		As of March 31,
		U.S.			Non-U.S.			Total
2026		$	774		$	2,829		$	3,603
2025			897			2,689			3,586

The Company’s net sales by geographic region are as follows:


		Three months ended March 31,
		U.S.			Non-U.S.			Total
2026		$	407		$	1,133		$	1,540
2025			441			1,126			1,567

Operations outside the U.S. that accounted for 10% or more of consolidated net sales during the three months ended March 31, 2026 and 2025 were in France (2026-12%, 2025-14%), Italy (2026-12%, 2025-12%), and Mexico (2026-13%, 2025-13%).

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Revenue

3 Months Ended

Mar. 31, 2026

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-month periods ended March 31, 2026 and 2025, the Company had no material bad debt expense, and there were no material contract assets, contract liabilities or deferred contract costs recorded in the Condensed Consolidated Balance Sheets. For the three-month periods ended March 31, 2026 and 2025, revenue recognized from prior periods was not material.

The following tables for the three months ended March 31, 2026 and 2025 disaggregate the Company’s revenue by customer end use:


	Three months ended March 31, 2026
	Americas		Europe		Total

Alcoholic beverages (beer, wine, spirits)	$	465	$	464	$	929
Food and other		239		118		357
Non-alcoholic beverages		167		73		240
Reportable segment totals	$	871	$	655	$	1,526
Other						14
Net sales					$	1,540


	Three months ended March 31, 2025
	Americas		Europe		Total

Alcoholic beverages (beer, wine, spirits)	$	503	$	481	$	984
Food and other		217		111		328
Non-alcoholic beverages		153		75		228
Reportable segment totals	$	873	$	667	$	1,540
Other						27
Net sales					$	1,567

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Credit Losses

3 Months Ended

Mar. 31, 2026

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 March 31, 2026 and 2025, the Company reported $805 million and $758 million of accounts receivable, respectively, net of allowances of $32 million and $32 million, respectively. Changes in the allowance were not material for each of the three months ended March 31, 2026 and 2025.

Inventories

3 Months Ended

Mar. 31, 2026

Inventories

Inventories

4. Inventories

Major classes of inventory at March 31, 2026, December 31, 2025 and March 31, 2025 are as follows:


		March 31,			December 31,			March 31,
		2026			2025			2025
Finished goods		$	805		$	781		$	747
Raw materials			157			182			188
Operating supplies			41			39			50
		$	1,003		$	1,002		$	985

Derivative Instruments

3 Months Ended

Mar. 31, 2026

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 $7 million and $0 at March 31, 2026 and December 31, 2025, respectively, and an unrecognized gain of $1 million at March 31, 2025 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. The Company uses derivatives to manage these exposures and designates these derivatives as cash flow hedges of foreign exchange risk.

No unrecognized gains related to cross-currency swaps were included in Accumulated OCI at March 31, 2026, December 31, 2025 and March 31, 2025.

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 exchange risk. Approximately $5 million, $1 million and $2 million of the components were excluded from the assessment of effectiveness and are included in Accumulated OCI at March 31, 2026, December 31, 2025 and March 31, 2025, 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 March 31, 2026, December 31, 2025 and March 31, 2025:


	Fair Value of						Fair Value of
	Hedge Assets						Hedge Liabilities
	March 31,		December 31,		March 31,		March 31,		December 31,		March 31,
	2026		2025		2025		2026		2025		2025
Derivatives designated as hedging instruments:
Commodity forward contracts and collars (a)	$	19	$	—	$	1	$	2	$	2	$	2
Fair value hedges of foreign exchange risk (b)		2		1		3		64		78		90
Net investment hedges (c)		11		11		11		174		207		73
Total derivatives accounted for as hedges	$	32	$	12	$	15	$	240	$	287	$	165
Derivatives not designated as hedges:
Foreign exchange derivative contracts (d)		5		2		10		6				13
Total derivatives	$	37	$	14	$	25	$	246	$	287	$	178


Current	$	22	$	14	$	25	$	67	$	71	$	60
Noncurrent		15				-		179		216		118
Total derivatives	$	37	$	14	$	25	$	246	$	287	$	178

(a)

The notional amount of the commodity forward contracts and collars was approximately 25 million, 9 million, and 8 million British Thermal Units at March 31, 2026, December 31, 2025, and March 31, 2025, respectively. The maximum maturity dates are in 2027 at March 31, 2026, December 31, 2025, and March 31, 2025.

(b)	The notional amounts of the fair value hedges of foreign exchange risk were $400 million at March 31, 2026, $400 million at December 31, 2025 and $816 million at March 31, 2025. The maximum maturity dates are in 2030 at March 31, 2026, December 31, 2025 and March 31, 2025.

(c)	The notional amounts of the net investment hedges were €1,176 million at March 31, 2026, €1,176 million at December 31, 2025 and €969 million at March 31, 2025. The maximum maturity dates are in 2028 at March 31, 2026 and December 31, 2025 and in 2026 at March 31, 2025.

(d)	The notional amounts of the foreign exchange derivative contracts were $677 million, $526 million and $957 million at March 31, 2026, December 31, 2025 and March 31, 2025, respectively. The maximum maturity dates are in 2026 at March 31, 2026 and December 31, 2025 and at March 31, 2025.


	Gain (Loss) Recognized in OCI (Effective Portion)				Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1)
	Three months ended March 31				Three months ended March 31,
Derivatives designated as hedging instruments:	2026		2025		2026		2025
Cash Flow Hedges
Commodity forward contracts and collars (a)	$	(1)	$	6	$	—	$	—
Net Investment Hedges
Net Investment Hedges (b)		36		(37)		3		3
	$	35	$	(31)	$	3	$	3


	Amount of Gain (Loss) Recognized in Other expense, net
	Three months ended March 31,
Derivatives not designated as hedges:	2026		2025
Foreign exchange derivative contracts	$	(4)	$	5

(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.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Restructuring Accruals

3 Months Ended

Mar. 31, 2026

Restructuring Accruals

Restructuring Accruals

6. Restructuring Accruals

Selected information related to the restructuring accruals for the three months ended March 31, 2026 and 2025 is as follows:


			Fit to Win program
		Employee		Asset		Other			Total
		Costs		Impairment		Exit Costs			Restructuring
Balance at January 1, 2026		$	113	$	—	$	70		$	183
Charges			27				11			38
Net cash paid, principally severance and related benefits			(25)				(10)			(35)
Other, including foreign exchange translation			(2)				(3)			(5)
Balance at March 31, 2026		$	113	$	—	$	68		$	181


		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, 2025	$	51	$	—	$	18	$	7	$	—	$	4	$	80
Charges		50		14		18								82
Write-down of assets to net realizable value				(14)										(14)
Net cash paid, principally severance and related benefits		(23)				(4)		(1)						(28)
Balance at March 31, 2025	$	78	$	—	$	32	$	6	$	—	$	4	$	120

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 March 31, 2026, 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 tables above. The Fit to Win initiative is expected to last at

least through 2026, but management does not yet have an estimate for the total restructuring charges to be incurred with this program.

For the three months ended March 31, 2026, the Company recorded restructuring, asset impairment and other charges of approximately $38 million to Other expense, net in the Condensed Consolidated Results of Operations, all of which 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 ($3 million), Europe segment ($31 million) and Retained corporate costs and other ($4 million). As of March 31, 2026, the Company has incurred cumulative charges of approximately $684 million related to the Fit to Win program. Additional restructuring charges are expected in future quarters when management completes its assessment to reduce redundant production capacity and streamline costs. 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 months ended March 31, 2025, the Company recorded restructuring, asset impairment and other charges of approximately $82 million to Other expense, net in the Condensed Consolidated Results of Operations, all of which 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 ($6 million), Europe segment ($52 million) and Retained corporate costs and other ($24 million). As of March 31, 2025, the Company had incurred cumulative charges of approximately $283 million related to the Fit to Win program.

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 significant 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 the three-months ended March 31, 2026, the remaining carrying value of the impaired assets was approximately $0.

Pension Benefit Plans

3 Months Ended

Mar. 31, 2026

Pension Benefit Plans

Pension Benefit Plans

7. Pension Benefit Plans

The components of the net periodic pension cost for the three months ended March 31, 2026 and 2025 are as follows:


		U.S.						Non-U.S.
		Three months ended March 31,						Three months ended March 31,
		2026			2025			2026			2025
Service cost		$	1		$	1		$	2		$	2
Interest cost			10			11			9			9
Expected asset return			(12)			(13)			(7)			(8)
Amortization of actuarial loss			3			3			3			2
Net periodic pension cost		$	2		$	2		$	7		$	5

The components of pension expense, other than the service cost component, are included in Other expense, net in the Condensed Consolidated Results of Operations.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Income Taxes

3 Months Ended

Mar. 31, 2026

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, Italy, Peru, Poland 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.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt

3 Months Ended

Mar. 31, 2026

Debt

Debt

9. Debt

The following table summarizes the long-term debt of the Company at March 31, 2026, December 31, 2025, and March 31, 2025:


		March 31,			December 31,			March 31,
		2026			2025			2025
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans		$	—		$	—		$	—
Term Loans:
Term Loans A			792			799
Term Loans B			642			643
Previous Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans									185
Term Loans:
Term Loans A									1,338
Senior Notes:
6.625%, due 2027			611			610			609
6.250%, due 2028 (€600 million)			684			700			645
5.250%, due 2029 (€500 million)			568			581			535
4.750%, due 2030			398			397			397
7.250%, due 2031			684			684			683
7.375%, due 2032			297			297			296
Finance leases			161			174			192
Other			27			18			9
Total long-term debt			4,864			4,903			4,889
Less amounts due within one year			64			66			103
Long-term debt		$	4,800		$	4,837		$	4,786

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 September 30, 2025, certain of the Company’s subsidiaries entered into an Amended and Restated Credit Agreement and Syndicated Facility Agreement (the “Credit Agreement”), which refinanced in full the previous credit agreement. The Credit Agreement provides for up to $2.7 billion of borrowings pursuant to term loans A, term loans B and a revolving credit facility. The term loans A mature, and the revolving credit facility terminates, in September 2030, and the term loans B mature in September 2032; provided, however, that if any of the senior notes issued by certain subsidiaries of the Company are outstanding on the date that is 91 days prior to the maturity date for such senior notes (any such date, a “Springing Maturity Date”), then the term loans A, the revolving credit facility and the term loans B will mature and terminate, as applicable, on such Springing Maturity Date. Borrowings under the Credit Agreement are secured by certain collateral of the Company and certain of its subsidiaries.

At March 31, 2026, the Credit Agreement includes a $1.25 billion multicurrency revolving credit facility, the U.S. dollar equivalent of $800 million in term loan A facilities ($792 million outstanding balance at March 31, 2026, net of debt issuance costs) and $650 million in term loan B facilities ($642 million outstanding balance at March 31, 2026, net of debt issuance costs). At March 31, 2026, the Company’s subsidiaries that are party to the Credit Agreement had unused credit of $1.24 billion available under the revolving credit facilities as part of the Credit Agreement. The weighted average interest rate on borrowings outstanding under the Credit Agreement at March 31, 2026 was 5.36%.

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, for the benefit of lenders under the term loans A and the revolving credit facility (and, following an acceleration of the term loans A and the revolving credit facility, for the benefit of the lenders under the term loans B) that requires the Company and certain of its subsidiaries, collectively, 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 such capitalized term is defined in the Credit Agreement. The Secured Leverage Ratio could restrict the ability of the Company and certain of its subsidiaries 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 applicable borrowers under the Credit Agreement would not be able to request borrowings under the revolving credit facility, 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 2.0% 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 could result in a default under a number of other outstanding debt securities and could lead to an acceleration of obligations related to these debt securities. As of March 31, 2026, 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 for the Term Loans A and the revolving credit facility. The interest rate on borrowings under the Credit Agreement is, at the option of the applicable borrower, the Base Rate, Term SOFR or, for non-U.S. Dollar borrowings only, the Eurocurrency Rate (each such capitalized term as defined in the Credit Agreement), plus an applicable margin. The applicable margin, for the Term Loans A and the revolving credit facility, ranges from 1.00% to 1.75% for Term SOFR loans and Eurocurrency Rate loans and from 0.00% to 0.75% for Base Rate loans. The applicable margin, for the Term Loans B, is 3.00% for Term SOFR loans. In addition, a commitment fee is payable on the unused revolving credit facility commitments ranging from 0.20% to 0.35% per annum, depending on the Total Leverage Ratio.

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.

The Company assesses its capital raising and refinancing needs on an ongoing basis and may enter into additional credit facilities and seek to issue equity and/or debt securities in the domestic and international capital markets if market conditions are favorable. Also, depending on market conditions, the Company may elect to repurchase portions of its debt securities in the open market.

The carrying amounts reported for certain long-term debt obligations subject to frequently redetermined interest rates approximate fair value. Fair values for the Company’s significant fixed rate debt obligations are based on published market quotations and are classified as Level 1 in the fair value hierarchy. Fair values at March 31, 2026 of the Company’s significant fixed rate debt obligations are as follows:


		Principal			Indicated Market
		Amount			Price			Fair Value
Senior Notes:
6.625%, due 2027		$	612			100.18		$	613
6.250%, due 2028 (€600 million)			688			100.38			691
5.250%, due 2029 (€500 million)			574			98.87			568
4.750%, due 2030			400			93.24			373
7.250%, due 2031			690			95.68			660
7.375%, due 2032			300			94.48			283

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Contingencies

3 Months Ended

Mar. 31, 2026

Contingencies

Contingencies

10. Contingencies

The Company has been identified by the U.S. Environmental Protection Agency (“EPA”) 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 $21 million, $21 million and $38 million (undiscounted) as of March 31, 2026, December 31, 2025 and March 31, 2025, 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.

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 had been 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. In 2024, the Company recorded charges of $11 million as its best estimate of this liability. In the first quarter of 2025, the Company and the NPS reached a tentative settlement, and the Company recorded a charge of approximately $4 million to Other expense, net in the Condensed Consolidated Results of

Operations to augment its previous accrual balance related to this matter. In the third quarter of 2025, the consent order between the parties was approved by the U.S. District Court, and the Company paid $16.5 million to resolve this matter.

The Company is being investigated by authorities in France for alleged anti-competitive conduct in that country. To date, the French authorities have not officially charged O-I’s business in that country with any violations of competition law. With regard to the above, the Company is committed to compliance with laws in the jurisdictions it operates and maintains policies and procedures regarding competition law. If the authorities in France find that the Company or any of its subsidiaries or joint ventures violated competition law, they could levy fines, which amounts could be material. At this stage, the Company is unable to predict the ultimate outcome of the investigations, 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

3 Months Ended

Mar. 31, 2026

Share Owners' Equity

Share Owners' Equity

11. Share Owners’ Equity

The activity in share owners’ equity for the three months ended March 31, 2026 and 2025 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, 2026		$	2		$	3,031			(667)		$	548		$	(1,620)		$	151		$	1,445
Reissuance of common stock (0.2 million shares)						(2)			4												2
Shares repurchased (0.6 million shares)						(10)															(10)
Stock compensation (0.8 million shares)						5															5
Net loss												(73)						2			(71)
Other comprehensive income															62			3			65
Other									(4)												(4)
Balance on March 31, 2026		$	2		$	3,024		$	(667)		$	475		$	(1,558)		$	156		$	1,432


		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, 2025		$	2		$	3,053		$	(677)		$	676		$	(1,975)		$	126		$	1,205
Reissuance of common stock (0.2 million shares)						(2)			5												3
Shares repurchased (0.9 million shares)						(10)															(10)
Stock compensation (1.3 million shares)						4															4
Net loss												(16)						4			(12)
Other comprehensive income															61			5			66
Other									(7)												(7)
Balance on March 31, 2025		$	2		$	3,045		$	(679)		$	660		$	(1,914)		$	135		$	1,249

During the three months ended March 31, 2026, the Company purchased 644,257 shares of its common stock for approximately $10 million. The share purchases were made pursuant to a $100 million anti-dilutive share repurchase program authorized by the Company’s Board of Directors on May 14, 2024, which is intended to offset stock-based compensation provided to the Company’s directors, officers, and employees. Approximately $30 million remained available for purchases under this program as of March 31, 2026.

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)
		March 31,		December 31,		March 31,
		2026		2025		2025

Shares of common stock issued (including treasury shares)		184,057		183,531		185,824

Treasury shares		30,757		30,558		31,141

- Definition

The entire disclosure for equity.

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+ Details

Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2026

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 March 31, 2026 and 2025 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, 2026		$	(1,019)		$	(119)		$	(482)		$	(1,620)
Change before reclassifications			20			32			(1)			51
Amounts reclassified from accumulated other comprehensive income (loss)						3	(a)		6	(b)		9
Translation effect									3			3
Tax effect						(1)						(1)
Other comprehensive income (loss) attributable to the Company			20			34			8			62
Balance on March 31, 2026		$	(999)		$	(85)		$	(474)		$	(1,558)


											Total
											Accumulated
		Net Effect of			Change in Certain						Other
		Exchange Rate			Derivative			Employee			Comprehensive
		Fluctuations			Instruments			Benefit Plans			Loss
Balance on January 1, 2025		$	(1,435)		$	(14)		$	(526)		$	(1,975)
Change before reclassifications			92			(28)			(2)			62
Amounts reclassified from accumulated other comprehensive income (loss)						3	(a)		5	(b)		8
Translation effect									(6)			(6)
Tax effect						(3)						(3)
Other comprehensive income (loss) attributable to the Company			92			(28)			(3)			61
Balance on March 31, 2025		$	(1,343)		$	(42)		$	(529)		$	(1,914)

(a)	Amount is recorded to cost of goods sold and interest expense, net in 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

3 Months Ended

Mar. 31, 2026

Other Expense, Net

Other Expense, Net

13. Other Expense, Net

Other expense, net for the three months ended March 31, 2026 and 2025 included the following:


		Three months ended March 31,
		2026			2025
Restructuring, asset impairment and other charges		$	(38)		$	(82)
Gain (loss) on sale of joint venture and miscellaneous assets			(46)			6
Legacy environmental charge (see Note 10)						(4)
Intangible amortization expense			(7)			(6)
Foreign currency exchange loss			1
Royalty income			4			5
Other income (expense)			(5)			(1)
Other expense, net		$	(91)		$	(82)

In the first quarter of 2026, the Company recorded pre-tax losses of approximately $46 million, primarily related to the sale of its share of a joint venture in the former Asia Pacific region. In the first quarter of 2025, the Company recorded pre-tax gains of approximately $6 million on the sale of land and buildings of a previously closed plant in the Americas.

Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2026

Earnings (Loss) Per Share

Earnings (Loss) Per Share

14. Earnings (Loss) Per Share

The following table sets forth the computation of basic and diluted earnings (loss) per share for the three months ended March 31, 2026 and 2025:


	Three months ended March 31,
	2026		2025
Numerator:
Net loss attributable to the Company	$	(73)	$	(16)
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding		152,683		153,708
Effect of dilutive securities:
Stock options and other
Denominator for diluted earnings per share-adjusted weighted average shares outstanding		152,683		153,708
Basic earnings (loss) per share:
Net loss attributable to the Company	$	(0.48)	$	(0.10)
Diluted earnings (loss) per share:
Net loss attributable to the Company	$	(0.48)	$	(0.10)

The diluted earnings (loss) per share computation for the three months ended March 31, 2026 and 2025 excludes 522,260 and 703,796 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 March 31, 2026 and 2025, diluted earnings (loss) per share of common stock was equal to basic loss per share of common stock due to the net loss attributable to the Company.

Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2026

Supplemental Cash Flow Information

Supplemental Cash Flow Information

15. Supplemental Cash Flow Information

Income taxes paid in cash were as follows:


		Three months ended March 31,
		2026		2025
U.S.		$	5	$	4
Non-U.S.			31		39
Total income taxes paid in cash		$	36	$	43

Interest paid in cash for the three months ended March 31, 2026 and 2025 was $49 million and $56 million, respectively.

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 March 31, 2026, December 31, 2025 and March 31, 2025, the total amount of trade receivables sold by the Company was $438 million, $531 million, and $504 million, respectively. These amounts included $167 million, $159 million and $180 million at March 31, 2026, December 31, 2025, and March 31, 2025, 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 utilized in operating activities of approximately $93 million and $31 million for the three months ended March 31, 2026 and March 31, 2025, respectively. For the three months ended March 31, 2026 and 2025, the Company recorded expenses related to these factoring programs of approximately $4 million and $5 million, respectively.

In addition, 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 outstanding obligations under the SCF Program are as follows:


		Three months ended March 31,
		2026		2025
Confirmed obligations outstanding at the beginning of the period		$	69	$	82
Invoices confirmed during the period			74		78
Confirmed invoices paid during the period			(80)		(92)
Confirmed obligations outstanding at the end of the period		$	63	$	68

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Pay vs Performance Disclosure
Net Income (Loss)	$ (73)	$ (16)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
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)

3 Months Ended

Mar. 31, 2026

Segment Information

Schedule of segment operating profit (loss) for the Company's reportable segments


		Three months ended March 31,
		2026							2025
			Americas		Europe		Total			Americas		Europe		Total
Reportable segment net sales		$	871	$	655	$	1,526		$	873	$	667	$	1,540
Other							14							27
Net Sales						$	1,540						$	1,567
Less:
Cost of goods sold			706		622					703		558
Selling, administrative, engineering and research and development expenses			36		39					43		46
Equity earnings			(20)		(6)					(19)		(4)
Other segment expenses (income)			7							5		(1)
Segment operating profit		$	142	$	—	$	142		$	141	$	68	$	209
Items excluded from segment operating profit:
Reconciliation of segment operating profit
Retained corporate costs and other							(32)							(30)
Restructuring, asset impairment and other charges							(38)							(82)
Legacy environmental charge														(4)
Gain (loss) on sale of joint venture and miscellaneous assets							(46)							6
Interest expense, net							(79)							(81)
Earnings (loss) before income taxes						$	(53)						$	18

Schedule of assets, equity investments, equity earnings, capital expenditures and depreciation and amortization expense for the Company's reportable segments


		As of March 31,
								Reportable			Retained			Consoli-
								Segment			Corp Costs			dated
		Americas			Europe			Totals			and Other			Totals
Total assets:
2026		$	4,757		$	3,873		$	8,630		$	320		$	8,950
2025			4,707			3,682			8,389			340			8,729
Equity investments:
2026		$	474		$	213		$	687		$	33		$	720
2025			456			193			649			34			683


		Three months ended March 31,
								Reportable			Retained			Consoli-
								Segment			Corp Costs			dated
		Americas			Europe			Totals			and Other			Totals
Equity earnings:
2026		$	20		$	6		$	26		$	—		$	26
2025			19			4			23			—			23
Capital expenditures:
2026		$	65		$	76		$	141		$	1		$	142
2025			62			72			134			1			135
Depreciation and amortization expense:
2026		$	71		$	42		$	113		$	3		$	116
2025			73			37			110			5			115

Total assets for the Company's reportable segments


		As of March 31,
		U.S.			Non-U.S.			Total
2026		$	774		$	2,829		$	3,603
2025			897			2,689			3,586

Schedule of segment information by geographic segment


		Three months ended March 31,
		U.S.			Non-U.S.			Total
2026		$	407		$	1,133		$	1,540
2025			441			1,126			1,567

Revenue (Tables)

3 Months Ended

Mar. 31, 2026

Revenue

Schedule of disaggregation of revenue by customer end use


	Three months ended March 31, 2026
	Americas		Europe		Total

Alcoholic beverages (beer, wine, spirits)	$	465	$	464	$	929
Food and other		239		118		357
Non-alcoholic beverages		167		73		240
Reportable segment totals	$	871	$	655	$	1,526
Other						14
Net sales					$	1,540

Inventories (Tables)

3 Months Ended

Mar. 31, 2026

Inventories

Schedule of major classes of inventory


		March 31,			December 31,			March 31,
		2026			2025			2025
Finished goods		$	805		$	781		$	747
Raw materials			157			182			188
Operating supplies			41			39			50
		$	1,003		$	1,002		$	985

Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments

Balance Sheet Classification of derivative instruments


	Fair Value of						Fair Value of
	Hedge Assets						Hedge Liabilities
	March 31,		December 31,		March 31,		March 31,		December 31,		March 31,
	2026		2025		2025		2026		2025		2025
Derivatives designated as hedging instruments:
Commodity forward contracts and collars (a)	$	19	$	—	$	1	$	2	$	2	$	2
Fair value hedges of foreign exchange risk (b)		2		1		3		64		78		90
Net investment hedges (c)		11		11		11		174		207		73
Total derivatives accounted for as hedges	$	32	$	12	$	15	$	240	$	287	$	165
Derivatives not designated as hedges:
Foreign exchange derivative contracts (d)		5		2		10		6				13
Total derivatives	$	37	$	14	$	25	$	246	$	287	$	178


Current	$	22	$	14	$	25	$	67	$	71	$	60
Noncurrent		15				-		179		216		118
Total derivatives	$	37	$	14	$	25	$	246	$	287	$	178

(a)

The notional amount of the commodity forward contracts and collars was approximately 25 million, 9 million, and 8 million British Thermal Units at March 31, 2026, December 31, 2025, and March 31, 2025, respectively. The maximum maturity dates are in 2027 at March 31, 2026, December 31, 2025, and March 31, 2025.

(b)	The notional amounts of the fair value hedges of foreign exchange risk were $400 million at March 31, 2026, $400 million at December 31, 2025 and $816 million at March 31, 2025. The maximum maturity dates are in 2030 at March 31, 2026, December 31, 2025 and March 31, 2025.

(c)	The notional amounts of the net investment hedges were €1,176 million at March 31, 2026, €1,176 million at December 31, 2025 and €969 million at March 31, 2025. The maximum maturity dates are in 2028 at March 31, 2026 and December 31, 2025 and in 2026 at March 31, 2025.

(d)	The notional amounts of the foreign exchange derivative contracts were $677 million, $526 million and $957 million at March 31, 2026, December 31, 2025 and March 31, 2025, respectively. The maximum maturity dates are in 2026 at March 31, 2026 and December 31, 2025 and at March 31, 2025.

Effects of derivative instruments on the results of operations

Restructuring Accruals (Tables)

3 Months Ended

Mar. 31, 2026

Restructuring Accruals

Selected information related to the restructuring accruals


			Fit to Win program
		Employee		Asset		Other			Total
		Costs		Impairment		Exit Costs			Restructuring
Balance at January 1, 2026		$	113	$	—	$	70		$	183
Charges			27				11			38
Net cash paid, principally severance and related benefits			(25)				(10)			(35)
Other, including foreign exchange translation			(2)				(3)			(5)
Balance at March 31, 2026		$	113	$	—	$	68		$	181


		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, 2025	$	51	$	—	$	18	$	7	$	—	$	4	$	80
Charges		50		14		18								82
Write-down of assets to net realizable value				(14)										(14)
Net cash paid, principally severance and related benefits		(23)				(4)		(1)						(28)
Balance at March 31, 2025	$	78	$	—	$	32	$	6	$	—	$	4	$	120

Pension Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2026

Pension Benefit Plans.

Defined Benefit Plans and Other Postretirement Benefit Plans

Components of net periodic pension cost


		U.S.						Non-U.S.
		Three months ended March 31,						Three months ended March 31,
		2026			2025			2026			2025
Service cost		$	1		$	1		$	2		$	2
Interest cost			10			11			9			9
Expected asset return			(12)			(13)			(7)			(8)
Amortization of actuarial loss			3			3			3			2
Net periodic pension cost		$	2		$	2		$	7		$	5

Debt (Tables)

3 Months Ended

Mar. 31, 2026

Debt

Long-term Debt


		March 31,			December 31,			March 31,
		2026			2025			2025
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans		$	—		$	—		$	—
Term Loans:
Term Loans A			792			799
Term Loans B			642			643
Previous Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans									185
Term Loans:
Term Loans A									1,338
Senior Notes:
6.625%, due 2027			611			610			609
6.250%, due 2028 (€600 million)			684			700			645
5.250%, due 2029 (€500 million)			568			581			535
4.750%, due 2030			398			397			397
7.250%, due 2031			684			684			683
7.375%, due 2032			297			297			296
Finance leases			161			174			192
Other			27			18			9
Total long-term debt			4,864			4,903			4,889
Less amounts due within one year			64			66			103
Long-term debt		$	4,800		$	4,837		$	4,786

Fair values of the Company's significant fixed rate debt obligations


		Principal			Indicated Market
		Amount			Price			Fair Value
Senior Notes:
6.625%, due 2027		$	612			100.18		$	613
6.250%, due 2028 (€600 million)			688			100.38			691
5.250%, due 2029 (€500 million)			574			98.87			568
4.750%, due 2030			400			93.24			373
7.250%, due 2031			690			95.68			660
7.375%, due 2032			300			94.48			283

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Share Owners' Equity (Tables)

3 Months Ended

Mar. 31, 2026

Share Owners' Equity

Activity in share owner's equity


		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, 2026		$	2		$	3,031			(667)		$	548		$	(1,620)		$	151		$	1,445
Reissuance of common stock (0.2 million shares)						(2)			4												2
Shares repurchased (0.6 million shares)						(10)															(10)
Stock compensation (0.8 million shares)						5															5
Net loss												(73)						2			(71)
Other comprehensive income															62			3			65
Other									(4)												(4)
Balance on March 31, 2026		$	2		$	3,024		$	(667)		$	475		$	(1,558)		$	156		$	1,432


		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, 2025		$	2		$	3,053		$	(677)		$	676		$	(1,975)		$	126		$	1,205
Reissuance of common stock (0.2 million shares)						(2)			5												3
Shares repurchased (0.9 million shares)						(10)															(10)
Stock compensation (1.3 million shares)						4															4
Net loss												(16)						4			(12)
Other comprehensive income															61			5			66
Other									(7)												(7)
Balance on March 31, 2025		$	2		$	3,045		$	(679)		$	660		$	(1,914)		$	135		$	1,249

Schedule of shares outstanding


		Shares Outstanding (in thousands)
		March 31,		December 31,		March 31,
		2026		2025		2025

Shares of common stock issued (including treasury shares)		184,057		183,531		185,824

Treasury shares		30,757		30,558		31,141

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2026

Accumulated Other Comprehensive Loss

Component of accumulated other comprehensive income (loss)

The activity in accumulated other comprehensive loss for the three months ended March 31, 2026 and 2025 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, 2026		$	(1,019)		$	(119)		$	(482)		$	(1,620)
Change before reclassifications			20			32			(1)			51
Amounts reclassified from accumulated other comprehensive income (loss)						3	(a)		6	(b)		9
Translation effect									3			3
Tax effect						(1)						(1)
Other comprehensive income (loss) attributable to the Company			20			34			8			62
Balance on March 31, 2026		$	(999)		$	(85)		$	(474)		$	(1,558)


											Total
											Accumulated
		Net Effect of			Change in Certain						Other
		Exchange Rate			Derivative			Employee			Comprehensive
		Fluctuations			Instruments			Benefit Plans			Loss
Balance on January 1, 2025		$	(1,435)		$	(14)		$	(526)		$	(1,975)
Change before reclassifications			92			(28)			(2)			62
Amounts reclassified from accumulated other comprehensive income (loss)						3	(a)		5	(b)		8
Translation effect									(6)			(6)
Tax effect						(3)						(3)
Other comprehensive income (loss) attributable to the Company			92			(28)			(3)			61
Balance on March 31, 2025		$	(1,343)		$	(42)		$	(529)		$	(1,914)

(a)	Amount is recorded to cost of goods sold and interest expense, net in 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)

3 Months Ended

Mar. 31, 2026

Other Expense, Net

Schedule of other income (expense), net


		Three months ended March 31,
		2026			2025
Restructuring, asset impairment and other charges		$	(38)		$	(82)
Gain (loss) on sale of joint venture and miscellaneous assets			(46)			6
Legacy environmental charge (see Note 10)						(4)
Intangible amortization expense			(7)			(6)
Foreign currency exchange loss			1
Royalty income			4			5
Other income (expense)			(5)			(1)
Other expense, net		$	(91)		$	(82)

Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings (Loss) Per Share

Computation of basic and diluted earnings per share


	Three months ended March 31,
	2026		2025
Numerator:
Net loss attributable to the Company	$	(73)	$	(16)
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding		152,683		153,708
Effect of dilutive securities:
Stock options and other
Denominator for diluted earnings per share-adjusted weighted average shares outstanding		152,683		153,708
Basic earnings (loss) per share:
Net loss attributable to the Company	$	(0.48)	$	(0.10)
Diluted earnings (loss) per share:
Net loss attributable to the Company	$	(0.48)	$	(0.10)

Supplemental Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2026

Supplemental Cash Flow Information

Schedule of activity and ending balances of the Company's supplier finance programs


		Three months ended March 31,
		2026		2025
Confirmed obligations outstanding at the beginning of the period		$	69	$	82
Invoices confirmed during the period			74		78
Confirmed invoices paid during the period			(80)		(92)
Confirmed obligations outstanding at the end of the period		$	63	$	68

Income taxes paid (received) in cash


		Three months ended March 31,
		2026		2025
U.S.		$	5	$	4
Non-U.S.			31		39
Total income taxes paid in cash		$	36	$	43

Segment Information (Details)	3 Months Ended
Segment Information (Details)	Mar. 31, 2026 segment
Segment Information
Number of reportable segments	2
Number of operating segments	2

Segment Information - Segment Operating Profits and Reporting Segments Totals (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment operating profit:
Net sales	$ 1,540	$ 1,567
Cost of goods sold	(1,341)	(1,287)
Selling and administrative expense	(99)	(109)
Equity earnings	(26)	(23)
Segment operating profit	142	209
Items excluded from segment operating profit:
Retained corporate costs and other	(32)	(30)
Restructuring, asset impairment and other charges	(38)	(82)
Legacy environmental charge		(4)
Gain (loss) on sale of joint venture and miscellaneous assets	(46)	6
Interest expense, net	(79)	(81)
Earnings (loss) before income taxes	(53)	18
Reportable segment totals
Segment operating profit:
Net sales	1,526	1,540
Equity earnings	(26)	(23)
Other
Segment operating profit:
Net sales	14	27
Americas
Segment operating profit:
Cost of goods sold	706	703
Selling and administrative expense	36	43
Equity earnings	(20)	(19)
Other segment expenses (income)	7	5
Segment operating profit	142	141
Americas \| Reportable segment totals
Segment operating profit:
Net sales	871	873
Equity earnings	(20)	(19)
Europe
Segment operating profit:
Cost of goods sold	622	558
Selling and administrative expense	39	46
Equity earnings	(6)	(4)
Other segment expenses (income)		(1)
Segment operating profit		68
Europe \| Reportable segment totals
Segment operating profit:
Net sales	655	667
Equity earnings	$ (6)	$ (4)

Segment Information - Total Assets and Equity Investments (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
Assets
Total assets	$ 8,950	$ 9,243	$ 8,729
Equity investments
Equity investments	720		683
Reportable segment totals
Assets
Total assets	8,630		8,389
Equity investments
Equity investments	687		649
Retained Corp Costs and Other
Assets
Total assets	320		340
Equity investments
Equity investments	33		34
Americas \| Reportable segment totals
Assets
Total assets	4,757		4,707
Equity investments
Equity investments	474		456
Europe \| Reportable segment totals
Assets
Total assets	3,873		3,682
Equity investments
Equity investments	$ 213		$ 193

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Segment Information - Equity Earnings, Capital Expenditures and Depreciation and Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Equity earnings:
Equity earnings	$ 26	$ 23
Capital expenditures:
Capital expenditures:	142	135
Depreciation and amortization expense:
Depreciation and amortization	116	115
Reportable segment totals
Equity earnings:
Equity earnings	26	23
Capital expenditures:
Capital expenditures:	141	134
Depreciation and amortization expense:
Depreciation and amortization	113	110
Retained Corp Costs and Other
Capital expenditures:
Capital expenditures:	1	1
Depreciation and amortization expense:
Depreciation and amortization	3	5
Americas
Equity earnings:
Equity earnings	20	19
Americas \| Reportable segment totals
Equity earnings:
Equity earnings	20	19
Capital expenditures:
Capital expenditures:	65	62
Depreciation and amortization expense:
Depreciation and amortization	71	73
Europe
Equity earnings:
Equity earnings	6	4
Europe \| Reportable segment totals
Equity earnings:
Equity earnings	6	4
Capital expenditures:
Capital expenditures:	76	72
Depreciation and amortization expense:
Depreciation and amortization	$ 42	$ 37

Segment Information - Tangible long-lived assets, including property, plant and equipment and operating lease right-of-use assets, by geographic region (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Long-Lived Assets
Tangible long lived assets, including property, plant and equipment and operating lease right-of-use assets	$ 3,603	$ 3,586
U.S.
Long-Lived Assets
Tangible long lived assets, including property, plant and equipment and operating lease right-of-use assets	774	897
Non-U.S.
Long-Lived Assets
Tangible long lived assets, including property, plant and equipment and operating lease right-of-use assets	$ 2,829	$ 2,689

Segment Information - Net sales by geographic region (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information
Net sales	$ 1,540	$ 1,567
U.S.
Segment Reporting Information
Net sales	407	441
Non-U.S.
Segment Reporting Information
Net sales	$ 1,133	$ 1,126
France
Segment Reporting Information
Percentage of consolidated net sales outside of the U.S.	12.00%	14.00%
Italy
Segment Reporting Information
Percentage of consolidated net sales outside of the U.S.	12.00%	12.00%
Mexico
Segment Reporting Information
Percentage of consolidated net sales outside of the U.S.	13.00%	13.00%

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

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+ Details

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
Revenue (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue
Net sales	$ 1,540	$ 1,567
Reportable Segment Totals
Disaggregation of Revenue
Net sales	1,526	1,540
Americas
Disaggregation of Revenue
Net sales	871	873
Europe
Disaggregation of Revenue
Net sales	655	667
Other
Disaggregation of Revenue
Net sales	14	27
Alcoholic beverages (beer, wine, spirits)
Disaggregation of Revenue
Net sales	929	984
Alcoholic beverages (beer, wine, spirits) \| Americas
Disaggregation of Revenue
Net sales	465	503
Alcoholic beverages (beer, wine, spirits) \| Europe
Disaggregation of Revenue
Net sales	464	481
Food and other
Disaggregation of Revenue
Net sales	357	328
Food and other \| Americas
Disaggregation of Revenue
Net sales	239	217
Food and other \| Europe
Disaggregation of Revenue
Net sales	118	111
Non-alcoholic beverages
Disaggregation of Revenue
Net sales	240	228
Non-alcoholic beverages \| Americas
Disaggregation of Revenue
Net sales	167	153
Non-alcoholic beverages \| Europe
Disaggregation of Revenue
Net sales	$ 73	$ 75

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
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+ Details

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Credit Losses (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
Credit Losses
Accounts receivable, net	$ 805	$ 601	$ 758
Allowance for doubtful accounts	$ 32	$ 31	$ 32

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
Inventories
Finished goods	$ 805	$ 781	$ 747
Raw materials	157	182	188
Operating supplies	41	39	50
Inventories	$ 1,003	$ 1,002	$ 985

Derivative Instruments - Derivatives and Hedges (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Commodity forward contracts and collars \| Cash Flow Hedges
Derivatives and Hedges
Unrecognized gain (loss) included in Accumulated OCI	$ (7)	$ 1	$ 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	$ 5	$ 2	$ 1

Derivative Instruments - Balance Sheet Classification (Details) € in Millions, $ / BTU in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2026 USD ($) $ / BTU	Mar. 31, 2025 USD ($) $ / BTU	Dec. 31, 2025 USD ($) $ / BTU	Mar. 31, 2026 EUR (€)	Dec. 31, 2025 EUR (€)	Mar. 31, 2025 EUR (€)
Derivatives, Fair Value
Total asset derivatives	$ 37	$ 25	$ 14
Total liability derivatives	246	178	287
Current derivative asset	22	25	14
Current derivative liability	67	60	71
Noncurrent derivative asset	15
Noncurrent derivative liability	179	118	216
Derivatives designated as hedging instruments
Derivatives, Fair Value
Total asset derivatives	32	15	12
Total liability derivatives	$ 240	$ 165	$ 287
Derivatives designated as hedging instruments \| Commodity forward contracts and collars
Derivatives, Fair Value
British Thermal Units ("BTUs") \| $ / BTU	25	8	9
Total asset derivatives	$ 19	$ 1
Total liability derivatives	2	2	$ 2
Derivatives designated as hedging instruments \| Foreign exchange risk
Derivatives, Fair Value
Notional amount	400	816	400
Total asset derivatives	2	3	1
Total liability derivatives	64	90	78
Derivatives designated as hedging instruments \| Net investment hedges
Derivatives, Fair Value
Notional amount \| €				€ 1,176	€ 1,176	€ 969
Total asset derivatives	11	11	11
Total liability derivatives	174	73	207
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivatives, Fair Value
Notional amount	677	957	526
Total asset derivatives	5	10	$ 2
Total liability derivatives	$ 6	$ 13

Derivative Instruments - Effects of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivatives and Hedges
Amount of Loss Recognized in Other income (expense), net	$ (4)	$ 5
Derivatives designated as hedging instruments
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	35	(31)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	3	3
Derivatives designated as hedging instruments \| Net Investment Hedges \| Interest expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	36	(37)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	3	3
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)	$ (1)	$ 6

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended
Restructuring (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Restructuring accrual
Beginning balance, restructuring reserve	$ 183	$ 80
Charges	38	82
Write-down of assets to net realizable value		(14)
Net cash paid, principally severance and related benefits	(35)	(28)
Other, including foreign exchange translation	(5)
Ending balance, restructuring reserve	181	120
Restructuring, Additional Information
Carrying value of impaired assets	0
Americas
Restructuring accrual
Charges	3	6
Europe
Restructuring accrual
Charges	31	52
Other
Restructuring accrual
Charges	4	24
Fit to Win Initiative \| Other
Restructuring, Additional Information
Cumulative charges	684	283
Fit to Win Initiative \| Employee Costs
Restructuring accrual
Beginning balance, restructuring reserve	113	51
Charges	27	50
Net cash paid, principally severance and related benefits	(25)	(23)
Other, including foreign exchange translation	(2)
Ending balance, restructuring reserve	113	78
Fit to Win Initiative \| Asset Impairment
Restructuring accrual
Charges		14
Write-down of assets to net realizable value		(14)
Fit to Win Initiative \| Other Exit Costs
Restructuring accrual
Beginning balance, restructuring reserve	70	18
Charges	11	18
Net cash paid, principally severance and related benefits	(10)	(4)
Other, including foreign exchange translation	(3)
Ending balance, restructuring reserve	$ 68	32
Other Restructuring \| Employee Costs
Restructuring accrual
Beginning balance, restructuring reserve		7
Net cash paid, principally severance and related benefits		(1)
Ending balance, restructuring reserve		6
Other Restructuring \| Other Exit Costs
Restructuring accrual
Beginning balance, restructuring reserve		4
Ending balance, restructuring reserve		$ 4

Pension Benefit Plans (Details) - Pension Benefit Plans. - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
U.S.
Components of net periodic pension cost
Service cost	$ 1	$ 1
Interest cost	$ 10	$ 11
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
Expected asset return	$ (12)	$ (13)
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
Amortization of actuarial loss	$ 3	$ 3
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
Net periodic pension cost	$ 2	$ 2
Non-U.S.
Components of net periodic pension cost
Service cost	2	2
Interest cost	9	9
Expected asset return	(7)	(8)
Amortization of actuarial loss	3	2
Net periodic pension cost	$ 7	$ 5

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2026
Income Taxes.
Statutory U.S. Federal tax rate (as a percent)	21.00%

Debt (Details) $ / shares in Units, € in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($) agreement $ / shares	Mar. 31, 2026 EUR (€)	Dec. 31, 2025 USD ($)	Dec. 31, 2025 EUR (€)	Mar. 31, 2025 USD ($)	Mar. 31, 2025 EUR (€)	Mar. 25, 2022 USD ($)
Debt Instrument
Total long-term debt	$ 4,864		$ 4,903		$ 4,889
Less amounts due within one year	64		66		103
Long-term debt	4,800		4,837		4,786
Maximum Borrowing Capacity							$ 2,700
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	2.00%
Leverage Ratio	2.5
Secured Credit Agreement \| Minimum
Debt Instrument
Interest rate margin, Term SOFR and Euro currency rate loans	1.00%	1.00%
Interest rate margin, Base Rate loans (as a percent)	0.00%
Facility fee payable (as a percent)	0.20%
Secured Credit Agreement \| Maximum
Debt Instrument
Interest rate margin, Term SOFR and Euro currency rate loans	1.75%	1.75%
Interest rate margin, Base Rate loans (as a percent)	0.75%
Facility fee payable (as a percent)	0.35%
Revolving Loans
Debt Instrument
Total long-term debt					185
Term Loans A
Debt Instrument
Total long-term debt	$ 792		799
Maximum Borrowing Capacity	800
Term Loans B
Debt Instrument
Total long-term debt	$ 642		643
Interest rate margin, Term SOFR rate loans	3.00%	3.00%
Maximum Borrowing Capacity	$ 650
Term Loans A
Debt Instrument
Total long-term debt					1,338
Senior Notes 6.625%, due 2027
Debt Instrument
Total long-term debt	$ 611		610		609
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	$ 100.18
Fair Value	$ 613
Senior Notes 6.250%, due 2028 (€600 million)
Debt Instrument
Total long-term debt	$ 684	€ 600	700	€ 600	645	€ 600
Interest rate, stated percentage	6.25%	6.25%
Fair values of fixed rate debt obligations
Principal Amount	$ 688
Indicated Market Price (in dollars per share) \| $ / shares	$ 100.38
Fair Value	$ 691
Senior Notes 5.250%, due 2029 (€500 million)
Debt Instrument
Total long-term debt	$ 568	€ 500	581	€ 500	535	€ 500
Interest rate, stated percentage	5.25%	5.25%
Fair values of fixed rate debt obligations
Principal Amount	$ 574
Indicated Market Price (in dollars per share) \| $ / shares	$ 98.87
Fair Value	$ 568
Senior Notes 4.750%, due 2030
Debt Instrument
Total long-term debt	$ 398		397		397
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	$ 93.24
Fair Value	$ 373
Senior Notes 7.250% due 2031
Debt Instrument
Total long-term debt	$ 684		684		683
Interest rate, stated percentage	7.25%	7.25%
Fair values of fixed rate debt obligations
Principal Amount	$ 690
Indicated Market Price (in dollars per share) \| $ / shares	$ 95.68
Fair Value	$ 660
Senior Notes 7.375% due 2032
Debt Instrument
Total long-term debt	$ 297		297		296
Interest rate, stated percentage	7.375%	7.375%
Fair values of fixed rate debt obligations
Principal Amount	$ 300
Indicated Market Price (in dollars per share) \| $ / shares	$ 94.48
Fair Value	$ 283
Finance leases
Debt Instrument
Total long-term debt	161		174		192
Other debt
Debt Instrument
Total long-term debt	27		$ 18		$ 9
Multicurrency Revolving Credit Facility
Debt Instrument
Maximum Borrowing Capacity	$ 1,250
Weighted average interest rate (as a percent)	5.36%	5.36%

Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2025	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2026	Dec. 31, 2025
Superfund sites
Other Matters
Loss contingency accrual		$ 38.0		$ 21.0	$ 21.0
Cuyahoga Valley National Park
Other Matters
Payments for legal settlements			$ 11.0
Anticipated future costs		50.0
Cuyahoga Valley National Park \| Other Expense
Other Matters
Litigation settlement charge	$ 16.5	$ 4.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-4

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 720
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483359/720-20-50-1

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 27
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482395/460-10-55-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-9

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
-SubTopic 10
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

Share Owners' Equity - Rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Increase (Decrease) in Share Owners' Equity
Balance (Beginning)	$ 1,445	$ 1,205
Reissuance of common stock	2	3
Shares repurchased	(10)	(10)
Stock compensation	5	4
Net loss	(71)	(12)
Other comprehensive income	65	66
Other	(4)	(7)
Balance (Ending)	1,432	1,249
Common Stock
Increase (Decrease) in Share Owners' Equity
Balance (Beginning)	2	2
Balance (Ending)	2	2
Capital in Excess of Par Value
Increase (Decrease) in Share Owners' Equity
Balance (Beginning)	3,031	3,053
Reissuance of common stock	(2)	(2)
Shares repurchased	(10)	(10)
Stock compensation	5	4
Balance (Ending)	3,024	3,045
Treasury Stock
Increase (Decrease) in Share Owners' Equity
Balance (Beginning)	(667)	(677)
Reissuance of common stock	4	5
Other	(4)	(7)
Balance (Ending)	(667)	(679)
Retained Earnings
Increase (Decrease) in Share Owners' Equity
Balance (Beginning)	548	676
Net loss	(73)	(16)
Balance (Ending)	475	660
Accumulated Other Comprehensive Loss
Increase (Decrease) in Share Owners' Equity
Balance (Beginning)	(1,620)	(1,975)
Other comprehensive income	62	61
Balance (Ending)	(1,558)	(1,914)
Non-Controlling Interests
Increase (Decrease) in Share Owners' Equity
Balance (Beginning)	151	126
Net loss	2	4
Other comprehensive income	3	5
Balance (Ending)	$ 156	$ 135

Share Owners' Equity - Rollforward Shares (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share Owners' Equity
Reissuance of common stock (in shares)	200,000	200,000
Shares repurchased (in shares)	644,257	900,000
Stock compensation (in shares)	800,000	1,300,000

Share Owners' Equity - Share Repurchase (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	May 14, 2024
Share Owners' Equity
Shares repurchased	$ 10	$ 10
Shares repurchased (in shares)	644,257	900,000
Stock repurchase plan authorized			$ 100
Remaining repurchase of common stock available	$ 30

Share Owners' Equity - Authorization of Common Stock (Details) - $ / shares	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025
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)	184,057,000	183,531,000	185,824,000
Treasury shares	30,757,000	30,558,000	31,141,000

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance (Beginning)	$ 1,445	$ 1,205
Other comprehensive income	65	66
Balance (Ending)	1,432	1,249
Net Effect of Exchange Rate Fluctuations
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance (Beginning)	(1,019)	(1,435)
Change before reclassifications	20	92
Other comprehensive income	20	92
Balance (Ending)	(999)	(1,343)
Change in Certain Derivative Instruments
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance (Beginning)	(119)	(14)
Change before reclassifications	32	(28)
Amounts reclassified from accumulated other comprehensive income (loss)	3	3
Tax effect	(1)	(3)
Other comprehensive income	34	(28)
Balance (Ending)	(85)	(42)
Employee Benefit Plans
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance (Beginning)	(482)	(526)
Change before reclassifications	(1)	(2)
Amounts reclassified from accumulated other comprehensive income (loss)	6	5
Translation effect	3	(6)
Other comprehensive income	8	(3)
Balance (Ending)	(474)	(529)
Accumulated Other Comprehensive Loss
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance (Beginning)	(1,620)	(1,975)
Change before reclassifications	51	62
Amounts reclassified from accumulated other comprehensive income (loss)	9	8
Translation effect	3	(6)
Tax effect	(1)	(3)
Other comprehensive income	62	61
Balance (Ending)	$ (1,558)	$ (1,914)

Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended
Other Expense, Net (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Other Expense, Net
Restructuring, asset impairment and other charges	$ (38)	$ (82)
Gain (loss) on sale of joint venture and miscellaneous assets	(46)	6
Legacy environmental charge (see Note 10)		(4)
Intangible amortization expense	(7)	(6)
Foreign currency exchange loss	1
Royalty income	4	5
Other income (expense)	(5)	(1)
Other expense, net	$ (91)	$ (82)

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-18

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-11

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-12

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-SubTopic 30
-Topic 350
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

+ Details

Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator:
Net loss attributable to the Company	$ (73)	$ (16)
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding	152,683,000	153,708,000
Effect of dilutive securities:
Denominator for diluted earnings per share-adjusted weighted average shares outstanding	152,683,000	153,708,000
Basic earnings (loss) per share:
Net loss attributable to the Company (in dollars per share)	$ (0.48)	$ (0.1)
Diluted earnings (loss) per share:
Net loss attributable to the Company (in dollars per share)	$ (0.48)	$ (0.1)
Weighted average shares of common stock attributable to options not included in diluted earnings per share (in shares)	522,260	703,796

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2024
Supplemental Cash Flow Information
Amount of receivables sold	$ 438	$ 504	$ 531
Receivables sold under supply chain factoring program	167	180	159
Interest paid in cash	49	56
Increase or decrease to cash from operating activities from factoring programs	(93)	(31)
Expense due to factoring program	4	5
Income taxes paid in cash
Income taxes paid in cash	36	43
Supply Chain Financing
Supplemental Cash Flow Information
Outstanding payment obligations to the financial institutions as part of SCF Programs	63	68	$ 69	$ 82
U.S.
Income taxes paid in cash
Income taxes paid in cash	5	4
Non-U.S.
Income taxes paid in cash
Income taxes paid in cash	$ 31	$ 39

Supplemental Cash Flow Information - Company's supplier finance programs (Details) - Supply Chain Financing - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Supplier Finance Program Obligation Roll Forward
Confirmed obligations outstanding at the beginning of the period	$ 69	$ 82
Invoices confirmed during the period	74	78
Confirmed invoices paid during the period	(80)	(92)
Confirmed obligations outstanding at the end of the period	$ 63	$ 68