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Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2020 shares
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2020
Entity File Number	1-9576
Entity Registrant Name	O-I GLASS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-2781933
Entity Address, Address Line One	One Michael Owens Way
Entity Address, City or Town	Perrysburg
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43551
City Area Code	567
Local Phone Number	336-5000
Title of 12(b) Security	Common Stock, $.01 par value
Security Exchange Name	NYSE
Trading Symbol	OI
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	156,955,838
Entity Central Index Key	0000812074
Amendment Flag	false
Document Fiscal Year Focus	2020
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2

CONSOLIDATED RESULTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
CONSOLIDATED RESULTS OF OPERATIONS
Net sales	$ 1,418	$ 1,756	$ 2,979	$ 3,393
Revenue, Product and Service [Extensible List]	Net sales	Net sales	Net sales	Net sales
Cost of goods sold	$ (1,255)	$ (1,420)	$ (2,548)	$ (2,760)
Gross profit	163	336	431	633
Selling and administrative expense	(97)	(116)	(213)	(231)
Research, development and engineering expense	(13)	(18)	(29)	(34)
Interest expense, net	(98)	(68)	(151)	(132)
Equity earnings	13	19	28	38
Other expense, net	(87)	(55)	(104)	(65)
Earnings (loss) from continuing operations before income taxes	(119)	98	(38)	209
Benefit (provision) for income taxes	18	(27)	(8)	(54)
Earnings (loss) from continuing operations	(101)	71	(46)	155
Loss from discontinued operations		(1)		(1)
Net earnings (loss)	(101)	70	(46)	154
Net earnings attributable to non-controlling interests		(5)	(5)	(10)
Net earnings (loss) attributable to the Company	(101)	65	(51)	144
Amounts attributable to the Company:
Earnings (loss) from continuing operations	(101)	66	(51)	145
Loss from discontinued operations		(1)		(1)
Net earnings (loss)	$ (101)	$ 65	$ (51)	$ 144
Basic earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$ (0.64)	$ 0.42	$ (0.32)	$ 0.94
Loss from discontinued operations (in dollars per share)				(0.01)
Net earnings (loss) (in dollars per share)	$ (0.64)	$ 0.42	$ (0.32)	$ 0.93
Weighted average shares outstanding (thousands) (in shares)	156,790	155,338	156,435	154,852
Diluted earnings per share:
Net earnings (loss) from continuing operations attributable to the Company (in dollars per share)	$ (0.64)	$ 0.42	$ (0.32)	$ 0.93
Loss from discontinued operations (in dollars per share)				(0.01)
Net earnings (loss) (in dollars per share)	$ (0.64)	$ 0.42	$ (0.32)	$ 0.92
Weighted average diluted shares outstanding (thousands) (in shares)	156,790	156,471	156,435	156,555

CONSOLIDATED COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
CONSOLIDATED COMPREHENSIVE INCOME
Net earnings (loss)	$ (101)	$ 70	$ (46)	$ 154
Other comprehensive income (loss):
Foreign currency translation adjustments	54	1	(519)	50
Pension and other postretirement benefit adjustments, net of tax	19	16	50	22
Change in fair value of derivative instruments, net of tax	(13)	(9)	(7)	(4)
Other comprehensive income (loss)	60	8	(476)	68
Total comprehensive income (loss)	(41)	78	(522)	222
Comprehensive (income) loss attributable to non-controlling interests	2	7	6	(1)
Comprehensive income (loss) attributable to the Company	$ (39)	$ 85	$ (516)	$ 221

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Current assets:
Cash and cash equivalents	$ 1,067	$ 551	$ 371
Trade receivables, net of allowance of $30 million, $32 million, and $34 million at June 30, 2020, December 31, 2019 and June 30, 2019	696	621	1,275
Inventories	1,004	1,045	1,015
Prepaid expenses and other current assets	245	271	282
Total current assets	3,012	2,488	2,943
Property, plant and equipment, net	2,976	3,273	3,216
Goodwill	1,806	1,934	2,527
Intangibles, net	314	371	422
Other assets	1,471	1,544	1,615
Total assets	9,579	9,610	10,723
Current liabilities:
Accounts payable	916	1,276	1,074
Short-term loans and long-term debt due within one year	404	124	96
Current portion of asbestos-related liabilities			135
Other liabilities	566	595	624
Total current liabilities	1,886	1,995	1,929
Long-term debt	6,103	5,435	6,235
Asbestos-related liabilities		486	364
Paddock support agreement liability	471
Other long-term liabilities	1,077	1,130	1,105
Share owners' equity	42	564	1,090
Total liabilities and share owners' equity	$ 9,579	$ 9,610	$ 10,723

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
CONSOLIDATED BALANCE SHEETS
Trade receivables allowance	$ 30	$ 32	$ 34

CONDENSED CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	6 Months Ended
CONDENSED CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net earnings (loss)	$ (46)	$ 154
Loss from discontinued operations		1
Non-cash charges
Depreciation and amortization	247	253
Pension expense	20	16
Restructuring, asset impairment and related charges	67	32
Pension settlement charges	8	2
Cash payments
Pension contributions	(21)	(19)
Asbestos-related payments		(103)
Cash paid for restructuring activities	(22)	(29)
Change in components of working capital	(415)	(939)
Other, net (a)	28	(30)
Cash utilized in continuing operating activities	(134)	(662)
Cash utilized in discontinued operating activities		(1)
Total cash utilized in operating activities	(134)	(663)
Cash flows from investing activities:
Cash payments for property, plant and equipment	(189)	(233)
Acquisitions, net of cash acquired		(157)
Contributions and advances to joint ventures		(22)
Net cash proceeds on disposal of assets	2	1
Deconsolidation of Paddock	(47)
Other	1	1
Cash utilized in investing activities	(233)	(410)
Cash flows from financing activities:
Changes in borrowings, net	922	970
Payment of finance fees	(45)	(8)
Treasury shares repurchased		(38)
Dividends paid	(8)	(16)
Net cash proceeds for hedging activity	42	28
Distributions to non-controlling interests	(4)	(7)
Other, net	(3)	(3)
Cash provided by financing activities	904	926
Effect of exchange rate fluctuations on cash	(21)	6
Increase (Decrease) in cash	516	(141)
Cash at beginning of period	551	512
Cash at end of period	$ 1,067	$ 371

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Information

Segment Information

1. Segment Information

The Company has three reportable segments and three operating segments based on its geographic locations: the Americas, Europe and Asia Pacific. These three segments are aligned with the Company’s internal approach to managing, reporting, and evaluating performance of its global glass operations. Certain assets and activities not directly related to one of the regions or to glass manufacturing are reported with Retained corporate costs and other. These include licensing, equipment manufacturing, global engineering, and certain equity investments. Retained corporate costs and other also includes certain headquarters administrative and facilities costs and certain incentive compensation and other benefit plan costs that are global in nature and are not allocable to the reportable segments.

The Company’s measure of profit for its reportable segments is segment operating profit, which consists of consolidated earnings (loss) from continuing operations before interest income, interest expense, and benefit (provision) for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations, as well as certain retained corporate costs. The Company’s management uses segment operating profit, in combination with net sales and selected cash flow information, to evaluate performance and to allocate resources. Segment operating profit for reportable segments includes an allocation of some corporate expenses based on both a percentage of sales and direct billings based on the costs of specific services provided. Segment operating profit is not a recognized term under U.S. GAAP, and therefore, does not purport to be an alternative to earnings (loss) before income taxes. Further, the Company's measure of segment operating profit may not be comparable to similarly titled measures of other companies.

Financial information for the three and six months ended June 30, 2020 and 2019 regarding the Company’s reportable segments is as follows:


	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Net sales:
Americas	$	724	$	934	$	1,555	$	1,815
Europe		555		650		1,132		1,246
Asia Pacific		132		152		277		303
Reportable segment totals		1,411		1,736		2,964		3,364
Other		7		20		15		29
Net sales	$	1,418	$	1,756	$	2,979	$	3,393


	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Segment operating profit:
Americas	$	52	$	144	$	155	$	257
Europe		42		90		103		169
Asia Pacific		1		2		6		10
Reportable segment totals		95		236		264		436
Items excluded from segment operating profit:
Retained corporate costs and other		(33)		(28)		(54)		(53)
Restructuring, asset impairment and other charges		(71)		(40)		(71)		(40)
Strategic transaction costs		(4)				(4)
Pension settlement charges		(8)		(2)		(8)		(2)
Charge for deconsolidation of Paddock						(14)
Interest expense, net		(98)		(68)		(151)		(132)
Earnings (loss) from continuing operations before income taxes	$	(119)	$	98	$	(38)	$	209

Financial information regarding the Company’s total assets is as follows:


	June 30,		December 31,		June 30,
	2020		2019		2019
Total assets:
Americas	$	4,707	$	5,264	$	5,994
Europe		3,315		3,127		3,342
Asia Pacific		915		1,012		1,045

Reportable segment totals		8,937		9,403		10,381
Other		642		207		342
Consolidated totals	$	9,579	$	9,610	$	10,723

Revenue

6 Months Ended

Jun. 30, 2020

Revenue

Revenue

2. Revenue

Revenue is recognized at the point in time when obligations under the terms of the Company’s contracts and related purchase orders with its customers are satisfied. This occurs with the transfer of control of glass containers, which primarily takes place when products are shipped from the Company’s manufacturing or warehousing facilities to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods, which includes estimated provisions for rebates, discounts, returns and allowances. Sales, value added, and other taxes the Company collects concurrent with revenue-producing activities are excluded from revenue. The Company’s payment terms are based on customary business practices and can vary by customer type. The term between invoicing and when payment is due is not significant. Also, the Company elected to account for shipping and handling costs as a fulfillment cost at the time of shipment.

For the three- and six-month periods ended June 30, 2020 and June 30, 2019, the Company had no material bad debt expense and there were no material contract assets, contract liabilities or deferred contract costs recorded on the Condensed Consolidated Balance Sheet.

The following tables for the three months ended June 30, 2020 and 2019 disaggregates the Company’s revenue by customer end use:


	Three months ended June 30, 2020
	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	427	$	395	$	88	$	910
Food and other		198		117		30		345
Non-alcoholic beverages		99		43		14		156
Reportable segment totals	$	724	$	555	$	132	$	1,411
Other								7
Net sales							$	1,418


	Three months ended June 30, 2019
	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	590	$	474	$	105	$	1,169
Food and other		191		109		29		329
Non-alcoholic beverages		153		67		18		238
Reportable segment totals	$	934	$	650	$	152	$	1,736
Other								20
Net sales							$	1,756

The following tables for the six months ended June 30, 2020 and 2019 disaggregates the Company’s revenue by customer end use:


	Six months ended June 30, 2020
	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	935	$	806	$	189	$	1,930
Food and other		387		223		53		663
Non-alcoholic beverages		233		103		35		371
Reportable segment totals	$	1,555	$	1,132	$	277	$	2,964
Other								15
Net sales							$	2,979


	Six months ended June 30, 2019
	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	1,153	$	907	$	214	$	2,274
Food and other		372		211		54		637
Non-alcoholic beverages		290		128		35		453
Reportable segment totals	$	1,815	$	1,246	$	303	$	3,364
Other								29
Net sales							$	3,393

Credit Losses

6 Months Ended

Jun. 30, 2020

Credit Losses

Credit Losses

3. Credit Losses

The Company is exposed to credit losses primarily through its sales of glass containers to customers. The Company’s trade receivables from customers are due within one year or less. The Company assesses each customer’s ability to pay for the glass containers it sells to them by conducting a credit review. The credit review considers the expected billing exposure and timing for payment and the customer’s established credit rating or the Company’s assessment of the customer’s creditworthiness based on an analysis of their financial statements when a credit rating is not available. The Company also considers contract terms and conditions, country and political risk, and business strategy in its evaluation. A credit limit is established for each customer based on the outcome of this review. The Company may require collateralized asset support or a prepayment to mitigate credit risk. The Company monitors its ongoing credit exposure through the active review of customer balances against contract terms and due dates, including timely account reconciliation, dispute resolution and payment confirmation. The Company may employ collection agencies and legal counsel to pursue the recovery of defaulted receivables.

At June 30, 2020, the Company reported $696 million of accounts receivable, net of allowances of $30 million. Changes in the allowance were not material for the three or six months ended June 30, 2020.

- Definition

The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security.

+ References + Details

Inventories

6 Months Ended

Jun. 30, 2020

Inventories

Inventories

4. Inventories

Major classes of inventory at June 30, 2020, December 31, 2019 and June 30, 2019 are as follows:


	June 30,		December 31,		June 30,
	2020		2019		2019
Finished goods	$	833	$	872	$	838
Raw materials		129		128		131
Operating supplies		42		45		46
	$	1,004	$	1,045	$	1,015

Goodwill

6 Months Ended

Jun. 30, 2020

Goodwill

Goodwill

5. Goodwill

The Company had Goodwill of approximately $1.8 billion at June 30, 2020, which includes approximately $0.9 billion related to the Company’s Europe reporting unit (in the Europe segment), approximately $0.5 billion related to the Company’s Latin America reporting unit (in the Americas segment) and approximately $0.4 billion related to the Company’s North America reporting unit (in the Americas segment). The COVID-19 pandemic had a significant adverse impact on the Company’s business during the second quarter of 2020, resulting in a significant decline in revenue and earnings, along with a decline in the Company’s stock price and associated market capitalization. While there is uncertainty about the duration and extent of the impact of the pandemic, the Company expects there will be a negative impact to its future earnings and cash flows. The Company determined that the impact of COVID-19 was a triggering event that required the Company to perform a quantitative interim goodwill impairment test in the second quarter of 2020.

When performing its test for goodwill impairment, the Company compares the business enterprise value (“BEV”) of each reporting unit to its carrying value. The BEV is computed based on estimated future cash flows, discounted at the weighted average cost of capital of a hypothetical third-party buyer. If the BEV is less than the carrying value for any reporting unit, then any excess of the carrying value over the BEV is recorded as an impairment loss. The calculations of the BEV of the Company’s reporting units were determined based on valuation techniques using the best available information, primarily discounted cash flow projections. The Company makes significant assumptions and estimates about the extent and timing of future cash flows. The outcome of the BEV calculations in the second quarter of 2020 indicated that the BEV of each of the Company’s reporting units exceeded its carrying amount; therefore, no impairment existed.

There can be no assurance that anticipated financial results will be achieved and the goodwill balances remain susceptible to future impairment charges. The goodwill related to the North America reporting unit is determined to have the greatest risk of future impairment charges given the narrow difference (approximately 2%) between the BEV and carrying value of this reporting unit as of the second quarter of 2020. The BEVs of the Company’s Europe and Latin America reporting units more substantially exceed their carrying values. If the Company’s projected future cash flows were lower, or if the assumed weighted average cost of capital were higher, the testing performed in the second quarter of 2020 may have indicated an impairment of the goodwill related to one or more of the Company’s reporting units. Any impairment charges that the Company may take in the future could be material to its consolidated results of operations and financial condition.

Derivative Instruments

6 Months Ended

Jun. 30, 2020

Derivative Instruments

Derivative Instruments

6. Derivative Instruments

The Company has certain derivative assets and liabilities, which consist of natural gas forwards, foreign exchange option and forward contracts, interest rate swaps and cross-currency swaps. The valuation of these instruments is determined primarily using the income approach, including discounted cash flow analysis on the expected cash flows of each derivative. Natural gas forward rates, foreign exchange rates and interest rates are the significant inputs into the valuation models. The Company also evaluates counterparty risk in determining fair values. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. These inputs are observable in active markets over the terms of the instruments the Company holds, and, accordingly, the Company classifies its derivative assets and liabilities as Level 2 in the hierarchy.

Commodity Forward Contracts Designated as Cash Flow Hedges

The Company enters into commodity forward contracts related to forecasted natural gas requirements, the objectives of which are to limit the effects of fluctuations in the future market price paid for natural gas and the related volatility in cash flows.

An unrecognized loss of $1 million at June 30, 2020, an unrecognized gain of $1 million at December 31, 2019 and an unrecognized gain of $2 million at June 30, 2019 related to the commodity forward contracts were included in Accumulated other comprehensive income (“Accumulated OCI”), and will be reclassified into earnings in the period when the commodity forward contracts expire.

Foreign Exchange Derivative Contracts Not Designated as Hedging Instruments

The Company uses short-term forward exchange or option agreements to purchase foreign currencies at set rates in the future. These agreements are used to limit exposure to fluctuations in foreign currency exchange rates for significant planned purchases of fixed assets or commodities that are denominated in currencies other than the subsidiaries’ functional currency. The Company also uses foreign exchange agreements to offset the foreign currency risk for receivables and payables, including intercompany receivables, payables, and loans, not denominated in, or indexed to, their functional currencies.

Cash Flow Hedges of Foreign Exchange Risk

The Company has variable-interest rate borrowings denominated in currencies other than the functional currency of the borrowing subsidiaries. As a result, the Company is exposed to fluctuations in the currency of the borrowing against the subsidiaries’ functional currency. The Company uses derivatives to manage these exposures and designates these derivatives as cash flow hedges of foreign exchange risk.

An unrecognized loss of $10 million at June 30, 2020, an unrecognized loss of less than $1 million at December 31, 2019 and an unrecognized loss of $18 million at June 30, 2019, related to these cross-currency swaps, were included in Accumulated OCI, and will be reclassified into earnings within the next 12 months.

Interest Rate Swaps Designated as Fair Value Hedges

The Company enters into interest rate swaps in order to maintain a capital structure containing targeted amounts of fixed and floating-rate debt and manage interest rate risk. The Company’s fixed-to-variable interest rate swaps are accounted for as fair value hedges. The relevant terms of the swap agreements match the corresponding terms of the notes, and therefore there is no hedge ineffectiveness. The Company recorded the net of the fair market values of the swaps as a long-term liability and short-term asset, along with a corresponding net decrease in the carrying value of the hedged debt.

Cash Flow Hedges of Interest Rate Risk

The Company enters into interest rate swaps in order to maintain a capital structure containing targeted amounts of fixed and floating-rate debt and manage interest rate risk. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments. These interest rate swap agreements were used to hedge the variable cash flows associated with variable-rate debt.

An unrecognized loss of less than $1 million at June 30, 2020, an unrecognized loss of $1 million at December 31, 2019 and an unrecognized loss of $1 million at June 30, 2019 related to these interest rate swaps, were included in Accumulated OCI, and will be reclassified into earnings within the next 12 months.

Net Investment Hedges

The Company is exposed to fluctuations in foreign exchange rates on investments it holds in non-U.S. subsidiaries and uses cross-currency swaps to partially hedge this exposure.

An unrecognized gain of $1 million at June 30, 2020, an unrecognized gain of $8 million at December 31, 2019 and an unrecognized gain of $5 million at June 30, 2019, related to these net investment hedges, were included in Accumulated OCI, and will be reclassified into earnings within the next 12 months.

Balance Sheet Classification

The following table shows the amount and classification (as noted above) of the Company’s derivatives at June 30, 2020, December 31, 2019 and June 30, 2019:


	Fair Value of						Fair Value of
	Hedge Assets						Hedge Liabilities
	June 30,		December 31,		June 30,		June 30,		December 31,		June 30,
	2020		2019		2019		2020		2019		2019
Derivatives designated as hedging instruments:
Commodity forward contracts (a)	$	—	$	1	$	2	$	1	$	—	$	1
Interest rate swaps - fair value hedges (b)		14		8		15				2
Cash flow hedges of foreign exchange risk (c)		18		25		20		55		21		30
Interest rate swaps - cash flow hedges (d)						1				1		2
Net investment hedges (e)		4		2		6		8				6
Total derivatives accounted for as hedges	$	36	$	36	$	44	$	64	$	24	$	39
Derivatives not designated as hedges:
Foreign exchange derivative contracts (f)		5		2		2		5				1
Total derivatives	$	41	$	38	$	46	$	69	$	24	$	40


Current	$	20	$	8	$	13	$	14	$	—	$	3
Noncurrent		21		30		33		55		24		37
Total derivatives	$	41	$	38	$	46	$	69	$	24	$	40

(a) The notional amounts of the commodity forward contracts were $11 million, $13 million and $19 million at June 30, 2020, December 31, 2019 and June 30, 2019, respectively. The maximum maturity dates were in 2020 for all three periods.

(b) The notional amounts of the interest rate swaps designated as fair value hedges were €725 million at June 30, 2020, December 31, 2019 and June 30, 2019. The maximum maturity dates were in 2025 for June 30, 2020 and December 31, 2019 and in 2024 for June 30, 2019.

(c) The notional amounts of the cash flow hedges of foreign exchange risk were $1.424 billion at June 30, 2020 and December 31, 2019 and $1.210 billion at June 30, 2019. The maximum maturity dates were in 2023 for all three periods.

(d) The notional amounts of the interest rate swaps designated as cash flow hedges were $105 million at June 30, 2020 and December 31, 2019 and $480 million at June 30, 2019. Maximum maturity dates were in 2020 for June 30, 2020 and December 31, 2019 and in 2021 for June 30, 2019.

(e) The notional amounts of the net investment hedges were €471 million at June 30, 2020 and €160 million at December 31, 2019 and June 30, 2019. The maximum maturity dates were in 2020 for all three periods.

(f) The notional amounts of the foreign exchange derivative contracts were $279 million, $283 million and $292 million at June 30, 2020, December 31, 2019 and June 30, 2019, respectively. The maximum maturity dates were in 2021 for June 30, 2020 and in 2019 for December 31, 2019 and June 30, 2019.


	Gain (Loss) Recognized in OCI (Effective Portion)				Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1)
	Three months ended June 30,				Three months ended June 30,
Derivatives designated as hedging instruments:	2020		2019		2020		2019
Cash Flow Hedges
Commodity forward contracts (a)	$	1	$	(1)	$	—	$	—
Cash flow hedges of foreign exchange risk (b)		(56)		(5)		(51)		2
Cash flow hedges of interest rate risk (c)				(1)		(1)
Net Investment Hedges
Net Investment Hedges (c)		(8)				2		2
	$	(63)	$	(7)	$	(50)	$	4

	Gain (Loss) Recognized in OCI (Effective Portion)				Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1)
	Six months ended June 30,				Six months ended June 30,
Derivatives designated as hedging instruments:	2020		2019		2020		2019
Cash Flow Hedges
Commodity forward contracts (a)	$	(2)	$	1	$	—	$	(1)
Cash flow hedges of foreign exchange risk (b)		10		2		9		12
Cash flow hedges of interest rate risk (c)				(1)		(1)
Net Investment Hedges
Net Investment Hedges (c)		(3)		5		3		3
	$	5	$	7	$	11	$	14

	Amount of Gain (Loss) Recognized in Other income (expense), net				Amount of Gain (Loss) Recognized in Other income (expense), net
	Three months ended June 30,				Six months ended June 30,
Derivatives not designated as hedges:	2020		2019		2020		2019
Foreign exchange derivative contracts	$	(2)	$	1	$	10	$	7

(1) Gains and losses reclassified from accumulated OCI and recognized in income are recorded to (a) cost of goods sold, (b) other expense, net or (c) interest expense, net.

Restructuring Accruals

6 Months Ended

Jun. 30, 2020

Restructuring Accruals

Restructuring Accruals

7. Restructuring Accruals

Selected information related to the restructuring accruals for the three months ended June 30, 2020 and 2019 is as follows:


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at April 1, 2020	$	22	$		$	12	$	34
Charges		21		40		6		67
Write-down of assets to net realizable value				(40)				(40)
Net cash paid, principally severance and related benefits		(13)				(1)		(14)
Balance at June 30, 2020	$	30	$	—	$	17	$	47


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at April 1, 2019	$	34	$		$	19	$	53
Charges		27				5		32
Net cash paid, principally severance and related benefits		(11)				(3)		(14)
Other, including foreign exchange translation						(1)		(1)
Balance at June 30, 2019	$	50	$	—	$	20	$	70

Selected information related to the restructuring accruals for the six months ended June 30, 2020 and 2019 is as follows:


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at January 1, 2020	$	32	$		$	13	$	45
Charges		21		40		6		67
Write-down of assets to net realizable value				(40)				(40)
Net cash paid, principally severance and related benefits		(21)				(1)		(22)
Other, including foreign exchange translation		(2)				(1)		(3)
Balance at June 30, 2020	$	30	$	—	$	17	$	47


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at January 1, 2019	$	47	$		$	22	$	69
Charges		27				5		32
Net cash paid, principally severance and related benefits		(24)				(5)		(29)
Other, including foreign exchange translation						(2)		(2)
Balance at June 30, 2019	$	50	$	—	$	20	$	70

When a decision is made to take restructuring actions, the Company manages and accounts for them programmatically apart from the on-going operations of the business. Information related to major programs is presented separately, while minor initiatives are presented on a combined basis. As of June 30, 2020 and 2019, no major restructuring programs were in effect.

For the three and six months ended June 30, 2020, the Company implemented several discrete restructuring initiatives and recorded restructuring, asset impairment and other charges of $67 million. These charges consisted of employee costs, such as severance and benefit-related costs, write-down of assets and other exit costs primarily related to a plant closure in the Americas and to a reduction-in-force program as part of its selling, general and administrative expense reduction initiative to help simplify the organization and improve decision making and execution. These restructuring charges were discrete actions and are expected to approximate the total cumulative costs for those actions as no significant additional costs are expected to be incurred. For the three and six months ended June 30, 2020, these

charges were recorded to Other expense, net on the Condensed Consolidated Results of Operations. The Company expects that the majority of the remaining cash expenditures related to the accrued employee and other exit costs will be paid out over the next several years.

For the three and six months ended June 30, 2019, the Company implemented several discrete restructuring initiatives and recorded restructuring and other charges of $32 million. These charges consisted of employee costs such as severance and benefit related costs and other exit costs primarily related to a severance program for certain salaried employees at the Company’s corporate and Americas headquarters. These charges were recorded to Selling and administrative expense ($2 million) and Other expense, net ($30 million) on the Condensed Consolidated Results of Operations.

The Company’s decisions to curtail selected production capacity have resulted in write-downs of certain long-lived assets to the extent their carrying value exceeded fair value or fair value less cost to sell. The Company classified the assumptions used to determine the fair value of the impaired assets in the period that the measurement was taken as Level 3 (third-party appraisal) in the fair value hierarchy as set forth in the general accounting principles for fair value measurements. For the asset impairments recorded through June 30, 2020, the remaining carrying value of the impaired assets was approximately $1 million.

Pension Benefit Plans

6 Months Ended

Jun. 30, 2020

Pension Benefit Plans

Pension Benefit Plans

8. Pension Benefit Plans

The components of the net periodic pension cost for the three months ended June 30, 2020 and 2019 are as follows:


	U.S.				Non-U.S.
	2020		2019		2020		2019
Service cost	$	3	$	3	$	4	$	3
Interest cost		13		15		6		7
Expected asset return		(20)		(22)		(12)		(11)
Amortization of actuarial loss		14		10		3		3
Net periodic pension cost	$	10	$	6	$	1	$	2

The components of the net periodic pension cost for the six months ended June 30, 2020 and 2019 are as follows:


	U.S.				Non-U.S.
	2020		2019		2020		2019
Service cost	$	6	$	6	$	7	$	6
Interest cost		25		30		13		15
Expected asset return		(41)		(44)		(24)		(22)
Amortization of actuarial loss		28		20		6		5
Net periodic pension cost	$	18	$	12	$	2	$	4

In addition to the above, the Company settled a portion of its pension obligations in Canada and recorded pension settlement charges of $8 million for the three and six months ended June 30, 2020, respectively.

Income Taxes

6 Months Ended

Jun. 30, 2020

Income Taxes

Income Taxes

9. Income Taxes

The Company calculates its interim tax provision using the estimated annual effective tax rate (“EAETR”) methodology in accordance with ASC 740-270. The EAETR is applied to the year-to-date ordinary income, exclusive of discrete items. The tax effects of discrete items are then included to arrive at the total reported interim tax provision. The determination of the EAETR is based upon a number of estimates, including the estimated annual pretax ordinary income or loss in each tax jurisdiction in which the Company operates. The tax effects of discrete items are recognized in the tax provision in the quarter they occur in accordance with GAAP. Depending on various factors, such as the item’s significance in relation to total income and the rate of tax applicable in the jurisdiction to which it relates, discrete items in any quarter can materially impact the reported effective tax rate. The Company’s annual effective tax rate may be affected by the mix of earnings in the U.S. and foreign jurisdictions, and such factors as changes in tax laws, tax rates or regulations, changes in business, changing interpretation of existing tax laws or regulations, the finalization of tax audits

and reviews, as well as other factors. As such, there can be significant volatility in interim tax provisions. The annual effective tax rate differs from the statutory U.S. Federal tax rate of 21% primarily because of varying non-U.S. tax rates.

The Company is currently under examination in various tax jurisdictions in which it operates, including Bolivia, Brazil, Canada, Colombia, France, Germany, Hungary, Indonesia and Peru. The years under examination range from 2004 through 2018. The Company has received tax assessments in excess of established reserves. The Company is contesting these tax assessments, and will continue to do so, including pursuing all available remedies, such as appeals and litigation, if necessary. The Company believes that adequate provisions for all income tax uncertainties have been made. However, if tax assessments are settled against the Company at amounts in excess of established reserves, it could have a material impact to the Company’s results of operations, financial position or cash flows.

On March 27, 2020, the President of the United States signed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act into law. The CARES Act is an emergency economic stimulus package in response to the COVID-19 pandemic that provides numerous tax provisions and other stimulus measures. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. Some international jurisdictions in which the Company operates have also enacted legislation to provide economic stimulus in response to the COVID-19 pandemic. The Company anticipates it will benefit from the ability to defer U.S. social security payroll tax that would otherwise be required in 2020, the acceleration of alternative minimum tax credit refunds, and potentially other provisions within the CARES Act. In addition, the Company may benefit from the deferral of certain non-U.S. tax payments to a future period. The Company expects the CARES Act and international legislation will not have a material impact on the Company’s condensed consolidated financial statements. The Company will continue to monitor and assess the impact the CARES Act and similar legislation in other countries may have on financial results.

Debt

6 Months Ended

Jun. 30, 2020

Debt

Debt

10. Debt

The following table summarizes the long-term debt of the Company:


	June 30,		December 31,		June 30,
	2020		2019		2019
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	823	$	—	$	389
Term Loans:
Term Loan A		1,477		1,477		1,496
Other secured debt		225		333		454
Senior Notes:
6.75%, due 2020 (€500 million)						567
4.875%, due 2021 (€0 million at June 30, 2020, €118 million December 31, 2019 and €330 million at June 30, 2019)				132		374
5.00%, due 2022		81		497		497
4.00%, due 2023		307		307		307
5.875%, due 2023		690		689		689
3.125%, due 2024 (€725 million)		835		824		845
6.375%, due 2025		296		295		296
5.375%, due 2025		297		297		298
2.875%, due 2025 (€500 million)		554		552
6.625%, due 2027		691
Finance leases		88		70		41
Other		12		11		12
Total long-term debt		6,376		5,484		6,265
Less amounts due within one year		273		49		30
Long-term debt	$	6,103	$	5,435	$	6,235

The Company presents debt issuance costs in the balance sheet as a deduction of the carrying amount of the related debt liability.

On June 25, 2019, certain of the Company’s subsidiaries entered into a Senior Secured Credit Facility Agreement (as amended by that certain Amendment No. 1 to the Third Amended and Restated Credit Agreement and Syndicated Facility Agreement dated as of December 13, 2019, and as further amended by that certain Amendment No. 2 to the Third Amended and Restated Credit Agreement and Syndicated Facility Agreement dated as of December 19, 2019, the “Agreement”), which amended and restated the previous credit agreement (the “Previous Agreement”). The proceeds from the Agreement were used to repay all outstanding amounts under the Previous Agreement.

The Agreement provides for up to $3.0 billion of borrowings pursuant to term loans and revolving credit facilities. The term loans mature, and the revolving credit facilities terminate in June 2024. At June 30, 2020, the Agreement includes a $300 million revolving credit facility, a $1.2 billion multicurrency revolving credit facility, and a $1.5 billion term loan A facility ($1,477 million net of debt issuance costs). At June 30, 2020, the Company had unused credit of $667 million available under the Agreement. The weighted average interest rate on borrowings outstanding under the Agreement at June 30, 2020 was 1.64%.

The Agreement contains various covenants that restrict, among other things and subject to certain exceptions, the ability of the Company to incur certain indebtedness and liens, make certain investments, become liable under contingent obligations in certain defined instances only, make restricted payments, make certain asset sales within guidelines and limits, engage in certain affiliate transactions, participate in sale and leaseback financing arrangements, alter its fundamental business, and amend certain subordinated debt obligations.

The Agreement also contains one financial maintenance covenant, a Total Leverage Ratio (the “Leverage Ratio”), that requires the Company not to exceed a ratio of 5.0x calculated by dividing consolidated total debt, less cash and cash

equivalents, by Consolidated EBITDA, with such Leverage Ratio decreasing to (a) 4.75x for the quarter ending June 30, 2021 and (b) 4.50x for the quarter ending December 31, 2021 and thereafter, as defined and described in the Agreement. The maximum Leverage Ratio is subject to an increase of 0.5x for (i) any fiscal quarter during which certain qualifying acquisitions (as specified in the Agreement) are consummated and (ii) the following three fiscal quarters, provided that the Leverage Ratio shall not exceed 5.0x. The Leverage Ratio could restrict the ability of the Company to undertake additional financing or acquisitions to the extent that such financing or acquisitions would cause the Leverage Ratio to exceed the specified maximum.

Failure to comply with these covenants and other customary restrictions could result in an event of default under the Agreement. In such an event, the Company could not request borrowings under the revolving facilities, and all amounts outstanding under the Agreement, together with accrued interest, could then be declared immediately due and payable. Upon the occurrence and for the duration of a payment event of default, an additional default interest rate equal to 2.0% per annum will apply to all overdue obligations under the Agreement. If an event of default occurs under the Agreement and the lenders cause all of the outstanding debt obligations under the Agreement to become due and payable, this would result in a default under the indentures governing the Company’s outstanding debt securities and could lead to an acceleration of obligations related to these debt securities. As of June 30, 2020, the Company was in compliance with all covenants and restrictions in the Agreement. In addition, the Company believes that it will remain in compliance and that its ability to borrow funds under the Agreement will not be adversely affected by the covenants and restrictions.

The Leverage Ratio also determines pricing under the Agreement. The interest rate on borrowings under the Agreement is, at the Company’s option, the Base Rate or the Eurocurrency Rate, as defined in the Agreement, plus an applicable margin. The applicable margin is linked to the Leverage Ratio. The margins range from 1.00% to 1.50% for Eurocurrency Loans and from 0.00% to 0.50% for Base Rate Loans. In addition, a commitment fee is payable on the unused revolving credit facility commitments ranging from 0.20% to 0.30% per annum linked to the Leverage Ratio.

Obligations under the Agreement are secured by substantially all of the assets, excluding real estate and certain other excluded assets, of certain of the Company’s domestic subsidiaries and certain foreign subsidiaries. Such obligations are also secured by a pledge of intercompany debt and equity investments in certain of the Company’s domestic subsidiaries and, in the case of foreign obligations, of stock of certain foreign subsidiaries. All obligations under the Agreement are guaranteed by certain domestic subsidiaries of the Company, and certain foreign obligations under the Agreement are guaranteed by certain foreign subsidiaries of the Company.

In July 2019, the Company redeemed €250 million aggregate principal amount of its outstanding 6.75% senior notes due 2020. The redemption was funded with cash on hand and revolver borrowings.

In November 2019, the Company issued €500 million aggregate principal amount of senior notes. The senior notes bear interest at a rate of 2.875% per annum and mature on February 15, 2025. The senior notes were issued via a private placement and are guaranteed by certain of the Company’s domestic subsidiaries. The net proceeds, after deducting debt issuance costs, totaled approximately €492 million and were used to redeem the remaining €250 million aggregate principal amount of the Company’s outstanding 6.75% senior notes due 2020 and €212 million aggregate principal amount of the Company’s outstanding 4.875% senior notes due 2021.

In December 2019, subsidiaries of the Company completed consent solicitations to amend and waive certain provisions of the indentures governing certain of their senior notes. On December 11, 2019, those subsidiaries entered into supplemental indentures reflecting the amendments and waivers, which were obtained to facilitate the implementation of the Corporate Modernization.

In May 2020, the Company issued $700 million aggregate principal amount of new senior notes. The new senior notes bear interest at a rate of 6.625% per annum and mature on May 13, 2027. The new senior notes were issued via a private placement and are guaranteed by certain of the Company’s domestic subsidiaries. The net proceeds, after deducting debt issuance costs, totaled approximately $690 million and were used to redeem the remaining $130 million aggregate principal amount of the Company’s outstanding 4.875% senior notes due 2021, approximately $419 million aggregate principal amount of the Company’s outstanding 5.00% senior notes due 2022 and approximately $105 million of other secured borrowings. The Company recorded approximately $38 million of additional interest charges for note

repurchase premiums and write-off of unamortized finance fees related to the senior notes redemptions for the three and six months ended June 30, 2020, respectively.

In order to maintain a capital structure containing appropriate amounts of fixed and floating-rate debt, the Company has entered into a series of interest rate swap agreements. These interest rate swap agreements were accounted for as either fair value hedges or cash flow hedges (see Note 6 for more information).

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

The carrying amounts reported for certain long-term debt obligations subject to frequently redetermined interest rates approximate fair value. Fair values for the Company’s significant fixed rate debt obligations are based on published market quotations, and are classified as Level 1 in the fair value hierarchy. Fair values at June 30, 2020 of the Company’s significant fixed rate debt obligations are as follows:


	Principal		Indicated Market
	Amount		Price Per $		Fair Value
Senior Notes:
5.00%, due 2022	$	81	$	100.35	$	81
4.00%, due 2023		310		98.61		306
5.875%, due 2023		700		103.07		722
3.125%, due 2024 (€725 million)		815		98.74		804
6.375%, due 2025		300		104.61		314
5.375%, due 2025		300		100.39		301
2.875%, due 2025 (€500 million)		562		96.92		545
6.625%, due 2027		700		104.15		729

Contingencies

6 Months Ended

Jun. 30, 2020

Contingencies

Contingencies

11. Contingencies

Asbestos

From 1948 to 1958, one of the Company's former business units commercially produced and sold approximately $40 million of a high-temperature, calcium-silicate based pipe and block insulation material containing asbestos. The Company sold its insulation business unit in April 1958. The Company historically received claims from individuals alleging bodily injury and death as a result of exposure to asbestos from this product (“Asbestos Claims”). Some Asbestos Claims were brought as personal injury lawsuits that typically allege various theories of liability, including negligence, gross negligence and strict liability and seek compensatory and, in some cases, punitive damages.

Predominantly, however, Asbestos Claims were historically presented to the Company under administrative claims-handling agreements, which the Company had in place with many plaintiffs’ counsel throughout the country (“Administrative Claims”). Administrative Claims required evaluation and negotiation regarding whether particular claimants qualify under the criteria established by the related claims-handling agreements. The criteria for Administrative Claims included verification of a compensable illness and a reasonable probability of exposure to a product manufactured by the Company's former business unit during its manufacturing period ending in 1958. Plaintiffs’ counsel presented, and the Company negotiated, Administrative Claims under these various agreements in differing quantities, at different times, and under a variety of conditions.

On December 26 and 27, 2019, the Company implemented the Corporate Modernization (“Corporate Modernization”), whereby O-I Glass became the new parent entity with Owens-Illinois Group, Inc. (“O-I Group”) and Paddock Enterprises, LLC (“Paddock”) as direct, wholly owned subsidiaries, with Paddock as the successor-by-merger to O-I. The Company’s legacy asbestos-related liabilities remained within Paddock, structurally separating them from the Company’s glass-making operations, which remain under O-I Group.

On January 6, 2020 (the “Petition Date”), Paddock voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware to equitably and finally resolve all of its current and future asbestos-related claims. O-I Glass and O-I Group were not included in the Chapter 11 filing. As a result of the

initiation of the Chapter 11 proceeding, Paddock now operates in the ordinary course under court protection from asbestos claims by operation of the automatic stay in Paddock’s Chapter 11 filing, which stays ongoing litigation and submission of claims against Paddock as of the Petition Date and defers the payment of Paddock’s outstanding obligations on account of settled or otherwise determined lawsuits and claims. The bankruptcy process is expected to provide a centralized forum to resolve presently pending and anticipated future lawsuits and claims associated with asbestos. Paddock’s ultimate goal in its Chapter 11 case is to confirm a plan of reorganization under Section 524(g) of the Bankruptcy Code and utilize this specialized provision to establish a trust that will address all current and future asbestos-related claims. Because the Chapter 11 proceedings are in the early stages, it is not possible to predict the form of the ultimate resolution or when an ultimate resolution might occur.

As part of the Corporate Modernization transactions, O-I Glass entered into a support agreement with Paddock that requires O-I Glass to provide funding to Paddock for all permitted uses, subject to the terms of the support agreement. The key objectives of the support agreement are to ensure that Paddock has the ability to fund the costs and expenses of managing the Chapter 11 process, ultimately settle Asbestos Claims through the establishment of a trust as described above and fund certain other liabilities including applicable taxes. The ultimate amount that may be required to fund the trust in connection with a confirmed Chapter 11 plan of reorganization cannot be estimated with certainty.

Following the Chapter 11 filing, the activities of Paddock are now subject to review and oversight by the bankruptcy court. As a result, the Company no longer has exclusive control over Paddock’s activities during the Chapter 11 proceedings. Therefore, Paddock was deconsolidated as of the Petition Date, and its assets and liabilities, which primarily included $47 million of cash, the legacy asbestos-related liabilities, as well as certain other assets and liabilities, were derecognized from the Company’s consolidated financial statements on a prospective basis. Simultaneously, the Company recognized a liability related to the support agreement, as described above, of $471 million as required under applicable accounting standards, which may be subject to change based on the facts and circumstances of the Chapter 11 proceedings. Taken together, these transactions resulted in a loss of approximately $14 million, which was reflected as a charge in the Company’s first quarter 2020 operating results. Additionally, the deconsolidation resulted in an investing outflow of $47 million in the Company’s first quarter 2020 consolidated cash flows.

Several risks and uncertainties related to Paddock’s Chapter 11 case could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows, including the ultimate amounts necessary to fund any trust established pursuant to Section 524(g) of the Bankruptcy Code, the potential for the Company’s asbestos-related exposure to extend beyond Paddock based on corporate veil piercing efforts or other claims by asbestos plaintiffs, the costs of the Chapter 11 proceedings and the length of time necessary to resolve the case, either through settlement or various court proceedings, and the possibility that Paddock will be unsuccessful in attaining the desired relief under Chapter 11.

Prior to the Petition Date, the Company knew of approximately 850 asbestos lawsuits pending. This figure does not include an estimate of potential Administrative Claims that could have been presented under a claims-handling agreement due to the uncertainties around presentation timing, quantities, or qualification rates. The Company historically considered Administrative Claims to be filed and disposed of when they are accepted for payment.

The lack of uniform rules in lawsuit pleading practice, technical pleading requirement in some jurisdictions, local rules, and other factors caused considerable variation in the specific amounts of monetary damages asserted in lawsuits brought prior to the Petition Date. In the Company’s experience, the monetary relief alleged in a lawsuit bore little relationship to an Asbestos Claim’s merits or its disposition value. Rather, several variables, including but not limited to, the type and severity of the asbestos disease, medical history, and exposure to other disease-causing agents; the product identification evidence against the Company and other co-defendants; the defenses available to the Company and other co-defendants; the specific jurisdiction in which the claim was made; the applicable law; and the law firm representing the claimant, affected the value.

The Company was also a defendant in other Asbestos Claims involving maritime workers, medical monitoring, co-defendants’ third-party actions, and property damage allegations. Based upon its experience, the Company assessed that these categories of Asbestos Claims would not involve any material liability. Therefore, they were not included in the description of pending or disposed matters.

From receipt of its first Asbestos Claim to the Petition Date, the Company in the aggregate disposed of approximately 401,200 Asbestos Claims at an average indemnity payment of approximately $10,200 per claim. The

Company’s asbestos indemnity payments varied on a per-claim basis. Asbestos-related cash payments for 2019 were $151 million and the Company’s cash payments per claim disposed (inclusive of legal costs) were approximately $129,000 for the year ended December 31, 2019.

Prior to the Petition Date, the Company’s objective was historically to achieve, where possible, resolution of Asbestos Claims pursuant to claims-handling agreements. Failure of claimants to meet certain medical and product exposure criteria in claims-handling agreements generally reduced the number of claims that would otherwise have been received by the Company in the tort system. In addition, changes in jurisdictional dynamics, legislative acts, asbestos docket management and procedures, the substantive law, the co-defendant pool, and other external factors affected lawsuit volume, claim volume, qualification rates, claim values, and related matters. Collectively, these variables generally had the effect of increasing the Company’s per-claim average indemnity payment over time.

Beginning with the initial liability of $975 million established in 1993, the Company accrued a total of approximately $5.0 billion through just prior to the Petition Date, before insurance recoveries, for its asbestos-related liability. The Company’s estimates of its liability were significantly affected by, among other factors, the volatility of asbestos-related litigation in the United States, the significant number of co-defendants that filed for bankruptcy, changes in mortality rates, the inherent uncertainty of future disease incidence and claiming patterns against the Company, the significant expansion of the types of defendants sued in this litigation, and changes in the extent to which such defendants participated in the resolution of cases in which the Company was also a defendant.

Prior to the Petition Date, the Company continually monitored trends that could affect its ultimate liability and analyzed the developments and variables likely to affect the resolution of Asbestos Claims. The material components of the Company’s total accrued liability were determined by the Company in connection with its annual comprehensive legal review and consisted of the following estimates, to the extent it was probable that such liabilities had been incurred and could be reasonably estimated: (i) the liability for Asbestos Claims already asserted against the Company; (ii) the liability for Asbestos Claims not yet asserted against the Company; and (iii) the legal defense costs estimated to be incurred in connection with the Asbestos Claims already asserted and those Asbestos Claims the Company believed would be asserted.

Through December 31, 2019, the Company historically conducted an annual comprehensive legal review of its asbestos-related liabilities and costs in connection with finalizing and reporting its annual results of operations, unless significant changes in trends or new developments have warranted an earlier review. As part of its annual comprehensive legal review, the Company provided historical Asbestos Claims data to a third party with expertise in determining the impact of disease incidence and mortality on future filing trends to develop information to assist the Company in estimating the total number of future Asbestos Claims likely to be asserted against the Company. The Company used this estimate, along with an estimation of disposition costs and related legal costs, as inputs to develop its best estimate of its total probable liability. If the results of the annual comprehensive legal review indicated that the existing amount of the accrued liability was lower (higher) than its reasonably estimable asbestos-related costs, then the Company recorded an appropriate charge (credit) to the Company’s results of operations to increase (decrease) the accrued liability.

The significant assumptions underlying the material components of the Company’s accrual historically were:

a) settlements would continue to be limited almost exclusively to claimants who were exposed to the Company’s asbestos containing insulation prior to its exit from that business in 1958;

b) Asbestos Claims would continue to be resolved primarily under the Company’s administrative claims-handling agreements or on terms comparable to those set forth in those agreements;

c) the incidence of serious asbestos-related disease cases and claiming patterns against the Company for such cases would not change materially, including claiming pattern changes driven by changes in the law, procedure, or expansion of judicial resources in jurisdictions where the Company settles Asbestos Claims;

d) the Company would be substantially able to defend itself successfully at trial and on appeal;

e) the number and timing of additional co-defendant bankruptcies would not change significantly the assets available to participate in the resolution of cases in which the Company is a defendant; and

f) co-defendants with substantial resources and assets would continue to participate significantly in the resolution of future Asbestos Claims.

For the year ended December 31, 2019, the Company concluded that an accrual in the amount of $486 million was required under applicable accounting standards. This amount has not been discounted for the time value of money. The Company’s comprehensive legal review resulted in a charge of $35 million the year ended December 31, 2019. As previously disclosed, the Company anticipated that adjustments to its asbestos-related accruals were possible given the inherent uncertainties involved in asbestos litigation. In the fourth quarter of 2019, this charge was primarily due to an increase in the estimated average disposition cost per claim (including related legal costs), driven primarily by a changing litigation environment more favorable to plaintiffs, and a decrease in the estimated number of claims likely to be asserted against the Company in the future that was less than the decrease expected by the Company.

Other Matters

Other litigation is pending against the Company, in some cases involving ordinary and routine claims incidental to the business of the Company and in others presenting allegations that are non-routine and involve compensatory, punitive or treble damage claims as well as other types of relief. The Company records a liability for such matters when it is both probable that the liability has been incurred and the amount of the liability can be reasonably estimated. Recorded amounts are reviewed and adjusted to reflect changes in the factors upon which the estimates are based, including additional information, negotiations, settlements and other events.

Share Owners' Equity

6 Months Ended

Jun. 30, 2020

Share Owners' Equity

Share Owners' Equity

12. Share Owners’ Equity

The activity in share owners’ equity for the three months ended June 30, 2020 and 2019 is as follows:

The activity in share owners’ equity for the three months ended June 30, 2020 and 2019 is as follows:
	Share Owners’ Equity of the Company
									Accumulated
			Capital in						Other		Non-		Total Share
	Common		Excess of		Treasury		Retained		Comprehensive		controlling		Owners'
	Stock		Par Value		Stock		Earnings (Loss)		Loss		Interests		Equity
Balance on April 1, 2020	$	2		3,128		(730)		(47)		(2,370)		93	$	76
Reissuance of common stock (0.3 million shares)				(4)		7								3
Stock compensation (0.1 million shares)				4										4
Net loss								(101)						(101)
Other comprehensive income (loss)										62		(2)		60
Balance on June 30, 2020	$	2	$	3,128	$	(723)	$	(148)	$	(2,308)	$	91	$	42


	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 April 1, 2019	$	2		3,130		(745)		412		(1,911)		122	$	1,010
Reissuance of common stock (0.1 million shares)						3								3
Stock compensation (0.5 million shares)				6										6
Net earnings								65				5		70
Other comprehensive income (loss)										20		(12)		8
Dividends declared								(7)						(7)
Balance on June 30, 2019	$	2	$	3,136	$	(742)	$	470	$	(1,891)	$	115	$	1,090

The activity in share owners’ equity for the six months ended June 30, 2020 and 2019 is as follows:


	Share Owners’ Equity of the Company
									Accumulated
			Capital in						Other		Non-		Total Share
	Common		Excess of		Treasury		Retained		Comprehensive		controlling		Owners'
	Stock		Par Value		Stock		Earnings (Loss)		Loss		Interests		Equity
Balance on January 1, 2020	$	2		3,130		(733)		(89)		(1,843)		97	$	564
Reissuance of common stock (0.5 million shares)				(7)		12								5
Stock compensation (0.8 million shares)				5										5
Net earnings (loss)								(51)				5		(46)
Other comprehensive loss										(465)		(11)		(476)
Dividends declared								(8)						(8)
Other						(2)								(2)
Balance on June 30, 2020	$	2	$	3,128	$	(723)	$	(148)	$	(2,308)	$	91	$	42


	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, 2019	$	2		3,124		(705)		333		(1,968)		114	$	900
Issuance of common stock (0.1 million shares)				2										2
Reissuance of common stock (0.2 million shares)				(1)		6								5
Treasury shares purchased (2.1 million shares)						(38)								(38)
Stock compensation (1.7 million shares)				11										11
Net earnings								144				10		154
Other comprehensive income (loss)										77		(9)		68
Dividends declared								(7)						(7)
Other						(5)								(5)
Balance on June 30, 2019	$	2	$	3,136	$	(742)	$	470	$	(1,891)	$	115	$	1,090

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)
	June 30,	December 31,	June 30,
	2020	2019	2019

Shares of common stock issued (including treasury shares)	189,294	188,447	188,435

Treasury shares	32,338	32,573	32,978

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2020

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

13. Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the three months ended June 30, 2020 and 2019 is as follows:


									Total
									Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on April 1, 2020	$	(1,377)	$	(8)		$	(985)		$	(2,370)
Change before reclassifications		56		35			7			98
Amounts reclassified from accumulated other comprehensive income (loss)				(50)	(a)		17	(b)		(33)
Translation effect				1			(3)			(2)
Tax effect				1			(2)			(1)
Other comprehensive income (loss) attributable to the Company		56		(13)			19			62
Balance on June 30, 2020	$	(1,321)	$	(21)		$	(966)		$	(2,308)


									Total
									Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on April 1, 2019	$	(843)	$	(13)		$	(1,055)		$	(1,911)
Change before reclassifications		13		(14)						(1)
Amounts reclassified from accumulated other comprehensive income (loss)				4	(a)		12	(b)		16
Translation effect				1			4			5
Tax effect										—
Other comprehensive income (loss) attributable to the Company		13		(9)			16			20
Balance on June 30, 2019	$	(830)	$	(22)		$	(1,039)		$	(1,891)

(a)	Amount is included in Cost of goods sold and Other expense, net on the Condensed Consolidated Results of Operations (see Note 6 for additional information).

(b)	Amount is included in the computation of net periodic pension cost (see Note 8 for additional information) and net postretirement benefit cost.

The activity in accumulated other comprehensive loss for the six months ended June 30, 2020 and 2019 is as follows:


									Total
									Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on January 1, 2020	$	(813)	$	(14)		$	(1,016)		$	(1,843)
Change before reclassifications		(508)		(17)			5			(520)
Amounts reclassified from accumulated other comprehensive income (loss)				11	(a)		34	(b)		45
Translation effect							13			13
Tax effect				(1)			(2)			(3)
Other comprehensive income (loss) attributable to the Company		(508)		(7)			50			(465)
Balance on June 30, 2020	$	(1,321)	$	(21)		$	(966)		$	(2,308)


									Total
									Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on January 1, 2019	$	(889)	$	(18)		$	(1,061)		$	(1,968)
Change before reclassifications		59		(24)			(2)			33
Amounts reclassified from accumulated other comprehensive income (loss)				14	(a)		25	(b)		39
Translation effect				3			(1)			2
Tax effect				3						3
Other comprehensive income (loss) attributable to the Company		59		(4)			22			77
Balance on June 30, 2019	$	(830)	$	(22)		$	(1,039)		$	(1,891)

(a)	Amount is included in Cost of goods sold and Other expense, net on the Condensed Consolidated Results of Operations (see Note 6 for additional information).

(b)	Amount is included in the computation of net periodic pension cost (see Note 8 for additional information) and net postretirement benefit cost.

Other Expense, Net

6 Months Ended

Jun. 30, 2020

Other Expense, Net

Other Expense, Net

14. Other Expense, Net

Other expense, net for the three and six months ended June 30, 2020 and 2019 included the following:


	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Restructuring, asset impairment and other charges	$	71	$	38	$	71	$	38
Pension settlement charges		8		2		8		2
Intangible amortization expense		5		10		15		20
Strategic transaction costs		4				4
Foreign currency exchange loss		1				1		3
Royalty income		(2)		(4)		(6)		(7)
Charge for deconsolidation of Paddock (see Note 11)						14
Other expense (income), net				9		(3)		9
	$	87	$	55	$	104	$	65

Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share

Earnings Per Share

15. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings (loss) per share:


	Three months ended June 30,
	2020		2019
Numerator:
Net earnings (loss) attributable to the Company	$	(101)	$	65
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding		156,790		155,338
Effect of dilutive securities:
Stock options and other				1,133
Denominator for diluted earnings per share-adjusted weighted average shares outstanding		156,790		156,471
Basic earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$	(0.64)	$	0.42
Loss from discontinued operations
Net earnings (loss)	$	(0.64)	$	0.42
Diluted earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$	(0.64)	$	0.42
Loss from discontinued operations
Net earnings (loss)	$	(0.64)	$	0.42

Options to purchase 3,751,691 and 1,603,692 weighted average shares of common stock, which were outstanding during the three months ended June 30, 2020 and 2019, respectively, were not included in the computation of diluted earnings per share because the exercise prices of the options were greater than the average market price of the common shares. For the three months ended June 30, 2020, diluted earnings per share of common stock was equal to basic earnings per share of common stock due to the loss from continuing operations.


	Six months ended June 30,
	2020		2019
Numerator:
Net earnings (loss) attributable to the Company	$	(51)	$	144
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding		156,435		154,852
Effect of dilutive securities:
Stock options and other				1,703
Denominator for diluted earnings per share-adjusted weighted average shares outstanding		156,435		156,555
Basic earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$	(0.32)	$	0.94
Loss from discontinued operations				(0.01)
Net earnings (loss)	$	(0.32)	$	0.93
Diluted earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$	(0.32)	$	0.93
Loss from discontinued operations				(0.01)
Net earnings (loss)	$	(0.32)	$	0.92

Options to purchase 3,142,704 and 1,549,995 weighted average shares of common stock, which were outstanding during the six months ended June 30, 2020 and 2019, respectively, were not included in the computation of diluted earnings per share because the exercise prices of the options were greater than the average market price of the common shares. For the six months ended June 30, 2020, diluted earnings per share of common stock was equal to basic earnings per share of common stock due to the loss from continuing operations.

Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Information

Supplemental Cash Flow Information

16. Supplemental Cash Flow Information

Income taxes paid (received) in cash were as follows:


	Six months ended June 30,
	2020		2019
U.S.	$	(1)	$	(3)
Non-U.S.		40		61
Total income taxes paid in cash	$	39	$	58

Interest paid, including note repurchase premiums, in cash for the six months ended June 30, 2020 and 2019 was $139 million and $128 million, respectively. Cash interest for the six months ended June 30, 2020 included $36 million of note repurchase premiums.

The Company uses various factoring programs to sell certain receivables to financial institutions as part of managing its cash flows. At June 30, 2020, December 31, 2019 and June 30, 2019, the amount of receivables sold by the Company was $437 million, $539 million and $173 million, respectively. For the six months ended June 30, 2020 and 2019, the Company reduced the use of its factoring programs compared to the most recent respective year-end periods and this resulted in a higher use of working capital, and a corresponding decrease to cash from operating activities, of approximately $102 million and $427 million, respectively.

New Accounting Pronouncement

6 Months Ended

Jun. 30, 2020

New Accounting Pronouncement

New Accounting Pronouncement

17. New Accounting Pronouncement

Credit Losses - Effective January 1, 2020, the Company adopted ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” using the modified retrospective transition method. This ASU amends the impairment model to utilize an expected loss methodology in place of the incurred loss methodology for financial instruments, including trade receivables. The amendment requires entities to consider a broader range of information to estimate expected credit losses, which may result in earlier recognition of losses. The adoption of ASU No. 2016-13 had no cumulative effect adjustment as of January 1, 2020 and no material impact on the Company’s consolidated balance sheet, consolidated results of operations or consolidated cash flows. See Note 3 for additional information.

Disclosure Requirements for Fair Value Measurement - In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement” which modifies the fair value disclosure requirements. Application of the standard is required for annual periods beginning after December 15, 2019. The Company adopted this standard in the first quarter of 2020. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

Disclosure Requirements for Defined Benefit Plans - In August 2018, the FASB issued ASU No. 2018-14, “Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans” which modifies the defined benefit plan disclosure requirements. Application of the standard is required for annual periods beginning after December 15, 2020. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements.

Effects of Reference Rate Reform on Financial Reporting - In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” which allows for elective contract modification guidance for contracts or other transactions that reference LIBOR or a reference rate that is expected to be discontinued as a result of reference rate reform. Application of the standard can be adopted for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact that the adoption of this guidance will have on its consolidated financial statements.

Business Combinations

6 Months Ended

Jun. 30, 2020

Business Combinations

Business Combinations

18. Business Combinations

On June 28, 2019, the Company completed the acquisition of Nueva Fábrica Nacional de Vidrio, S. de R.L. de C.V. (“Nueva Fanal”) from Grupo Modelo, an affiliate of Anheuser-Busch InBev SA/NV for a total purchase price of approximately $188 million. The Company financed this acquisition with debt. The Nueva Fanal facility is located near Mexico City, Mexico. Currently, this plant has three furnaces to produce and supply approximately 240,000 tons of glass containers annually for Grupo Modelo brands, such as Corona, for local and global export markets. This acquisition increases the Company’s presence in the Mexican glass packaging market.

Nueva Fanal’s operating results are included in the Company’s Consolidated Financial Statements from the acquisition date as part of the Americas segment. The acquisition qualifies as a business combination and was accounted for using the acquisition method of accounting.

The total purchase price was allocated to the tangible and identifiable intangible assets and liabilities based upon their respective fair values and was completed during the second quarter of 2020. The following table summarizes the final estimates of fair value of the assets acquired and liabilities assumed on June 28, 2019 and subsequent adjustments identified through the purchase price allocation process and recorded through the measurement period:


		June 28, 2019		Measurement Period Adjustments		June 30, 2020
Accounts receivable	$	42	$	(1)	$	41
Inventory		17				17
Goodwill				20		20
Intangibles		35		(32)		3
Net property, plant and equipment		129		33		162
Total assets acquired		223		20		243
Accounts payable		25		3		28
Accrued liabilities		3		(1)		2
Deferred tax liabilities				25		25
Net assets acquired	$	195	$	(7)	$	188

This acquisition did not meet the thresholds for a significant acquisition and therefore no pro forma financial information is presented.

COVID-19 Impacts

6 Months Ended

Jun. 30, 2020

COVID-19 Impacts

COVID-19 Impacts

19. COVID-19 Impacts

On March 11, 2020, the World Health Organization characterized COVID-19 as a global pandemic and recommended containment and mitigation measures. The Company is actively monitoring the impact of the global COVID-19 pandemic, which negatively impacted the first and second quarters of 2020 and will negatively impact its business and results of operations for the third and fourth quarters of 2020 and likely beyond.

The preparation of Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates particularly as it relates to estimates reliant on forecasts and other assumptions reasonably available to the Company and the uncertain future impacts of the COVID-19 pandemic and related economic disruptions. The extent to which the COVID-19 pandemic and related economic disruptions impact the Company’s business and financial results will depend on future developments including, but not limited to, the continued spread, duration and severity of the COVID-19 pandemic; the occurrence, spread, duration and severity of any subsequent wave or waves of outbreaks after the initial outbreak has subsided; the actions taken by the U.S. and foreign governments to contain the COVID-19 pandemic, address its impact or respond to the reduction in global and local economic activity; the occurrence, duration and severity of a global, regional or national recession, depression or other sustained adverse market event; the impact of the developments

described above on our customers and suppliers; and how quickly and to what extent normal economic and operating conditions can resume. The accounting matters assessed included, but were not limited to:

• allowance for doubtful accounts and credit losses

• carrying value of inventory; and

• the carrying value of goodwill and other long-lived assets.

There was not a material impact to the above estimates in the Company’s Condensed Consolidated Financial Statements for the three and six months ended June 30, 2020. The Company’s future assessment of the magnitude and duration of COVID-19, as well as other factors, could result in material changes to the estimates and material impacts to the Company’s Condensed Consolidated Financial Statements in future reporting periods.

Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Events

Subsequent Events

20. Subsequent Events

On July 31, 2020, the Company completed the sale of its Australia and New Zealand (“ANZ”) businesses to Visy Industries Holdings Pty Ltd. Gross proceeds approximated AUD $947 million (including a related sale-leaseback agreement which approximated AUD $214 million) or approximately USD $677 million. Approximately 95 percent of proceeds were received at time of closing and the remaining balance will be paid within 12 months of closing without conditions precedent. Net proceeds will be principally used to reduce debt.

The proceeds from the disposal of the Company’s ANZ businesses are expected to exceed the net carrying amount of the relevant assets and liabilities.

As of June 30, 2020, the ANZ businesses and their associated assets and liabilities did not meet the criteria for presentation as held for sale. Accordingly, the assets and liabilities attributable to the ANZ businesses are included in the Company’s Condensed Consolidated Balance Sheet and the operations of the ANZ businesses are included in the Company’s Asia Pacific region for segment reporting purposes (Note 1). The pretax profits from the ANZ businesses have been consolidated in the Company’s Condensed Consolidated Results of Operations and were approximately $6 million and $13 million for the six months ended June 30, 2020 and June 30, 2019, respectively. The major classes of assets and liabilities attributable to ANZ as of June 30, 2020 are included in the Company’s Condensed Consolidated Balance Sheet as follows:


		June 30, 2020
Cash and cash equivalents	$	45
Trade receivables, net		56
Inventories and other		154
Property, plant and equipment, net		266
Other assets		119
Accounts payable and other liabilities		(109)
Other long-term liabilities		(83)
Net assets		448
Accumulated other comprehensive income		123
	$	571

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Information

Net sales for the Company's reportable segments


	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Net sales:
Americas	$	724	$	934	$	1,555	$	1,815
Europe		555		650		1,132		1,246
Asia Pacific		132		152		277		303
Reportable segment totals		1,411		1,736		2,964		3,364
Other		7		20		15		29
Net sales	$	1,418	$	1,756	$	2,979	$	3,393

Segment operating profit (loss) for the Company's reportable segments


	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Segment operating profit:
Americas	$	52	$	144	$	155	$	257
Europe		42		90		103		169
Asia Pacific		1		2		6		10
Reportable segment totals		95		236		264		436
Items excluded from segment operating profit:
Retained corporate costs and other		(33)		(28)		(54)		(53)
Restructuring, asset impairment and other charges		(71)		(40)		(71)		(40)
Strategic transaction costs		(4)				(4)
Pension settlement charges		(8)		(2)		(8)		(2)
Charge for deconsolidation of Paddock						(14)
Interest expense, net		(98)		(68)		(151)		(132)
Earnings (loss) from continuing operations before income taxes	$	(119)	$	98	$	(38)	$	209

Total assets for the Company's reportable segments


	June 30,		December 31,		June 30,
	2020		2019		2019
Total assets:
Americas	$	4,707	$	5,264	$	5,994
Europe		3,315		3,127		3,342
Asia Pacific		915		1,012		1,045

Reportable segment totals		8,937		9,403		10,381
Other		642		207		342
Consolidated totals	$	9,579	$	9,610	$	10,723

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue

Schedule of disaggregation of revenue by customer end use


	Three months ended June 30, 2020
	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	427	$	395	$	88	$	910
Food and other		198		117		30		345
Non-alcoholic beverages		99		43		14		156
Reportable segment totals	$	724	$	555	$	132	$	1,411
Other								7
Net sales							$	1,418


	Three months ended June 30, 2019
	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	590	$	474	$	105	$	1,169
Food and other		191		109		29		329
Non-alcoholic beverages		153		67		18		238
Reportable segment totals	$	934	$	650	$	152	$	1,736
Other								20
Net sales							$	1,756


	Six months ended June 30, 2020
	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	935	$	806	$	189	$	1,930
Food and other		387		223		53		663
Non-alcoholic beverages		233		103		35		371
Reportable segment totals	$	1,555	$	1,132	$	277	$	2,964
Other								15
Net sales							$	2,979


	Six months ended June 30, 2019
	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	1,153	$	907	$	214	$	2,274
Food and other		372		211		54		637
Non-alcoholic beverages		290		128		35		453
Reportable segment totals	$	1,815	$	1,246	$	303	$	3,364
Other								29
Net sales							$	3,393

Inventories (Tables)

6 Months Ended

Jun. 30, 2020

Inventories

Major classes of inventory


	June 30,		December 31,		June 30,
	2020		2019		2019
Finished goods	$	833	$	872	$	838
Raw materials		129		128		131
Operating supplies		42		45		46
	$	1,004	$	1,045	$	1,015

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments

Balance Sheet Classification of derivative instruments


	Fair Value of						Fair Value of
	Hedge Assets						Hedge Liabilities
	June 30,		December 31,		June 30,		June 30,		December 31,		June 30,
	2020		2019		2019		2020		2019		2019
Derivatives designated as hedging instruments:
Commodity forward contracts (a)	$	—	$	1	$	2	$	1	$	—	$	1
Interest rate swaps - fair value hedges (b)		14		8		15				2
Cash flow hedges of foreign exchange risk (c)		18		25		20		55		21		30
Interest rate swaps - cash flow hedges (d)						1				1		2
Net investment hedges (e)		4		2		6		8				6
Total derivatives accounted for as hedges	$	36	$	36	$	44	$	64	$	24	$	39
Derivatives not designated as hedges:
Foreign exchange derivative contracts (f)		5		2		2		5				1
Total derivatives	$	41	$	38	$	46	$	69	$	24	$	40


Current	$	20	$	8	$	13	$	14	$	—	$	3
Noncurrent		21		30		33		55		24		37
Total derivatives	$	41	$	38	$	46	$	69	$	24	$	40

Effects of derivative instruments on the results of operations


	Gain (Loss) Recognized in OCI (Effective Portion)				Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1)
	Three months ended June 30,				Three months ended June 30,
Derivatives designated as hedging instruments:	2020		2019		2020		2019
Cash Flow Hedges
Commodity forward contracts (a)	$	1	$	(1)	$	—	$	—
Cash flow hedges of foreign exchange risk (b)		(56)		(5)		(51)		2
Cash flow hedges of interest rate risk (c)				(1)		(1)
Net Investment Hedges
Net Investment Hedges (c)		(8)				2		2
	$	(63)	$	(7)	$	(50)	$	4

	Gain (Loss) Recognized in OCI (Effective Portion)				Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1)
	Six months ended June 30,				Six months ended June 30,
Derivatives designated as hedging instruments:	2020		2019		2020		2019
Cash Flow Hedges
Commodity forward contracts (a)	$	(2)	$	1	$	—	$	(1)
Cash flow hedges of foreign exchange risk (b)		10		2		9		12
Cash flow hedges of interest rate risk (c)				(1)		(1)
Net Investment Hedges
Net Investment Hedges (c)		(3)		5		3		3
	$	5	$	7	$	11	$	14

	Amount of Gain (Loss) Recognized in Other income (expense), net				Amount of Gain (Loss) Recognized in Other income (expense), net
	Three months ended June 30,				Six months ended June 30,
Derivatives not designated as hedges:	2020		2019		2020		2019
Foreign exchange derivative contracts	$	(2)	$	1	$	10	$	7

(1) Gains and losses reclassified from accumulated OCI and recognized in income are recorded to (a) cost of goods sold, (b) other expense, net or (c) interest expense, net.

Restructuring Accruals (Tables)

6 Months Ended

Jun. 30, 2020

Restructuring Accruals

Selected information related to the restructuring accruals

Selected information related to the restructuring accruals for the three months ended June 30, 2020 and 2019 is as follows:


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at April 1, 2020	$	22	$		$	12	$	34
Charges		21		40		6		67
Write-down of assets to net realizable value				(40)				(40)
Net cash paid, principally severance and related benefits		(13)				(1)		(14)
Balance at June 30, 2020	$	30	$	—	$	17	$	47


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at April 1, 2019	$	34	$		$	19	$	53
Charges		27				5		32
Net cash paid, principally severance and related benefits		(11)				(3)		(14)
Other, including foreign exchange translation						(1)		(1)
Balance at June 30, 2019	$	50	$	—	$	20	$	70

Selected information related to the restructuring accruals for the six months ended June 30, 2020 and 2019 is as follows:


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at January 1, 2020	$	32	$		$	13	$	45
Charges		21		40		6		67
Write-down of assets to net realizable value				(40)				(40)
Net cash paid, principally severance and related benefits		(21)				(1)		(22)
Other, including foreign exchange translation		(2)				(1)		(3)
Balance at June 30, 2020	$	30	$	—	$	17	$	47


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at January 1, 2019	$	47	$		$	22	$	69
Charges		27				5		32
Net cash paid, principally severance and related benefits		(24)				(5)		(29)
Other, including foreign exchange translation						(2)		(2)
Balance at June 30, 2019	$	50	$	—	$	20	$	70

Pension Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2020

Pension Benefit Plans

Defined Benefit Plans and Other Postretirement Benefit Plans

Components of net periodic pension cost


	U.S.				Non-U.S.
	2020		2019		2020		2019
Service cost	$	3	$	3	$	4	$	3
Interest cost		13		15		6		7
Expected asset return		(20)		(22)		(12)		(11)
Amortization of actuarial loss		14		10		3		3
Net periodic pension cost	$	10	$	6	$	1	$	2


	U.S.				Non-U.S.
	2020		2019		2020		2019
Service cost	$	6	$	6	$	7	$	6
Interest cost		25		30		13		15
Expected asset return		(41)		(44)		(24)		(22)
Amortization of actuarial loss		28		20		6		5
Net periodic pension cost	$	18	$	12	$	2	$	4

Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt

Long-term Debt


	June 30,		December 31,		June 30,
	2020		2019		2019
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	823	$	—	$	389
Term Loans:
Term Loan A		1,477		1,477		1,496
Other secured debt		225		333		454
Senior Notes:
6.75%, due 2020 (€500 million)						567
4.875%, due 2021 (€0 million at June 30, 2020, €118 million December 31, 2019 and €330 million at June 30, 2019)				132		374
5.00%, due 2022		81		497		497
4.00%, due 2023		307		307		307
5.875%, due 2023		690		689		689
3.125%, due 2024 (€725 million)		835		824		845
6.375%, due 2025		296		295		296
5.375%, due 2025		297		297		298
2.875%, due 2025 (€500 million)		554		552
6.625%, due 2027		691
Finance leases		88		70		41
Other		12		11		12
Total long-term debt		6,376		5,484		6,265
Less amounts due within one year		273		49		30
Long-term debt	$	6,103	$	5,435	$	6,235

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


	Principal		Indicated Market
	Amount		Price Per $		Fair Value
Senior Notes:
5.00%, due 2022	$	81	$	100.35	$	81
4.00%, due 2023		310		98.61		306
5.875%, due 2023		700		103.07		722
3.125%, due 2024 (€725 million)		815		98.74		804
6.375%, due 2025		300		104.61		314
5.375%, due 2025		300		100.39		301
2.875%, due 2025 (€500 million)		562		96.92		545
6.625%, due 2027		700		104.15		729

- 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)

6 Months Ended

Jun. 30, 2020

Share Owners' Equity

Activity in share owner's equity

The activity in share owners’ equity for the three months ended June 30, 2020 and 2019 is as follows:

The activity in share owners’ equity for the three months ended June 30, 2020 and 2019 is as follows:
	Share Owners’ Equity of the Company
									Accumulated
			Capital in						Other		Non-		Total Share
	Common		Excess of		Treasury		Retained		Comprehensive		controlling		Owners'
	Stock		Par Value		Stock		Earnings (Loss)		Loss		Interests		Equity
Balance on April 1, 2020	$	2		3,128		(730)		(47)		(2,370)		93	$	76
Reissuance of common stock (0.3 million shares)				(4)		7								3
Stock compensation (0.1 million shares)				4										4
Net loss								(101)						(101)
Other comprehensive income (loss)										62		(2)		60
Balance on June 30, 2020	$	2	$	3,128	$	(723)	$	(148)	$	(2,308)	$	91	$	42


	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 April 1, 2019	$	2		3,130		(745)		412		(1,911)		122	$	1,010
Reissuance of common stock (0.1 million shares)						3								3
Stock compensation (0.5 million shares)				6										6
Net earnings								65				5		70
Other comprehensive income (loss)										20		(12)		8
Dividends declared								(7)						(7)
Balance on June 30, 2019	$	2	$	3,136	$	(742)	$	470	$	(1,891)	$	115	$	1,090

The activity in share owners’ equity for the six months ended June 30, 2020 and 2019 is as follows:


	Share Owners’ Equity of the Company
									Accumulated
			Capital in						Other		Non-		Total Share
	Common		Excess of		Treasury		Retained		Comprehensive		controlling		Owners'
	Stock		Par Value		Stock		Earnings (Loss)		Loss		Interests		Equity
Balance on January 1, 2020	$	2		3,130		(733)		(89)		(1,843)		97	$	564
Reissuance of common stock (0.5 million shares)				(7)		12								5
Stock compensation (0.8 million shares)				5										5
Net earnings (loss)								(51)				5		(46)
Other comprehensive loss										(465)		(11)		(476)
Dividends declared								(8)						(8)
Other						(2)								(2)
Balance on June 30, 2020	$	2	$	3,128	$	(723)	$	(148)	$	(2,308)	$	91	$	42


	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, 2019	$	2		3,124		(705)		333		(1,968)		114	$	900
Issuance of common stock (0.1 million shares)				2										2
Reissuance of common stock (0.2 million shares)				(1)		6								5
Treasury shares purchased (2.1 million shares)						(38)								(38)
Stock compensation (1.7 million shares)				11										11
Net earnings								144				10		154
Other comprehensive income (loss)										77		(9)		68
Dividends declared								(7)						(7)
Other						(5)								(5)
Balance on June 30, 2019	$	2	$	3,136	$	(742)	$	470	$	(1,891)	$	115	$	1,090

Schedule of shares outstanding


	Shares Outstanding (in thousands)
	June 30,	December 31,	June 30,
	2020	2019	2019

Shares of common stock issued (including treasury shares)	189,294	188,447	188,435

Treasury shares	32,338	32,573	32,978

- 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)

6 Months Ended

Jun. 30, 2020

Accumulated Other Comprehensive Loss

Component of accumulated other comprehensive loss


									Total
									Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on April 1, 2020	$	(1,377)	$	(8)		$	(985)		$	(2,370)
Change before reclassifications		56		35			7			98
Amounts reclassified from accumulated other comprehensive income (loss)				(50)	(a)		17	(b)		(33)
Translation effect				1			(3)			(2)
Tax effect				1			(2)			(1)
Other comprehensive income (loss) attributable to the Company		56		(13)			19			62
Balance on June 30, 2020	$	(1,321)	$	(21)		$	(966)		$	(2,308)


									Total
									Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on April 1, 2019	$	(843)	$	(13)		$	(1,055)		$	(1,911)
Change before reclassifications		13		(14)						(1)
Amounts reclassified from accumulated other comprehensive income (loss)				4	(a)		12	(b)		16
Translation effect				1			4			5
Tax effect										—
Other comprehensive income (loss) attributable to the Company		13		(9)			16			20
Balance on June 30, 2019	$	(830)	$	(22)		$	(1,039)		$	(1,891)

(a)	Amount is included in Cost of goods sold and Other expense, net on the Condensed Consolidated Results of Operations (see Note 6 for additional information).

(b)	Amount is included in the computation of net periodic pension cost (see Note 8 for additional information) and net postretirement benefit cost.


									Total
									Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on January 1, 2020	$	(813)	$	(14)		$	(1,016)		$	(1,843)
Change before reclassifications		(508)		(17)			5			(520)
Amounts reclassified from accumulated other comprehensive income (loss)				11	(a)		34	(b)		45
Translation effect							13			13
Tax effect				(1)			(2)			(3)
Other comprehensive income (loss) attributable to the Company		(508)		(7)			50			(465)
Balance on June 30, 2020	$	(1,321)	$	(21)		$	(966)		$	(2,308)


									Total
									Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on January 1, 2019	$	(889)	$	(18)		$	(1,061)		$	(1,968)
Change before reclassifications		59		(24)			(2)			33
Amounts reclassified from accumulated other comprehensive income (loss)				14	(a)		25	(b)		39
Translation effect				3			(1)			2
Tax effect				3						3
Other comprehensive income (loss) attributable to the Company		59		(4)			22			77
Balance on June 30, 2019	$	(830)	$	(22)		$	(1,039)		$	(1,891)

(a)	Amount is included in Cost of goods sold and Other expense, net on the Condensed Consolidated Results of Operations (see Note 6 for additional information).

(b)	Amount is included in the computation of net periodic pension cost (see Note 8 for additional information) and net postretirement benefit cost.

Other Expense, Net (Tables)

6 Months Ended

Jun. 30, 2020

Other Expense, Net

Schedule of other expense (income), net


	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Restructuring, asset impairment and other charges	$	71	$	38	$	71	$	38
Pension settlement charges		8		2		8		2
Intangible amortization expense		5		10		15		20
Strategic transaction costs		4				4
Foreign currency exchange loss		1				1		3
Royalty income		(2)		(4)		(6)		(7)
Charge for deconsolidation of Paddock (see Note 11)						14
Other expense (income), net				9		(3)		9
	$	87	$	55	$	104	$	65

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Share

Computation of basic and diluted earnings per share


	Three months ended June 30,
	2020		2019
Numerator:
Net earnings (loss) attributable to the Company	$	(101)	$	65
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding		156,790		155,338
Effect of dilutive securities:
Stock options and other				1,133
Denominator for diluted earnings per share-adjusted weighted average shares outstanding		156,790		156,471
Basic earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$	(0.64)	$	0.42
Loss from discontinued operations
Net earnings (loss)	$	(0.64)	$	0.42
Diluted earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$	(0.64)	$	0.42
Loss from discontinued operations
Net earnings (loss)	$	(0.64)	$	0.42


	Six months ended June 30,
	2020		2019
Numerator:
Net earnings (loss) attributable to the Company	$	(51)	$	144
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding		156,435		154,852
Effect of dilutive securities:
Stock options and other				1,703
Denominator for diluted earnings per share-adjusted weighted average shares outstanding		156,435		156,555
Basic earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$	(0.32)	$	0.94
Loss from discontinued operations				(0.01)
Net earnings (loss)	$	(0.32)	$	0.93
Diluted earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company	$	(0.32)	$	0.93
Loss from discontinued operations				(0.01)
Net earnings (loss)	$	(0.32)	$	0.92

Supplemental Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Information

Income taxes paid (received) in cash


	Six months ended June 30,
	2020		2019
U.S.	$	(1)	$	(3)
Non-U.S.		40		61
Total income taxes paid in cash	$	39	$	58

Business Combinations (Tables)

6 Months Ended

Jun. 30, 2020

Business Combinations

Schedule of preliminary estimates of fair value of the assets and liabilities


		June 28, 2019		Measurement Period Adjustments		June 30, 2020
Accounts receivable	$	42	$	(1)	$	41
Inventory		17				17
Goodwill				20		20
Intangibles		35		(32)		3
Net property, plant and equipment		129		33		162
Total assets acquired		223		20		243
Accounts payable		25		3		28
Accrued liabilities		3		(1)		2
Deferred tax liabilities				25		25
Net assets acquired	$	195	$	(7)	$	188

Subsequent Events (Tables)

6 Months Ended

Jun. 30, 2020

Subsequent Events

Major classes of assets and liabilities attributable sold business


		June 30, 2020
Cash and cash equivalents	$	45
Trade receivables, net		56
Inventories and other		154
Property, plant and equipment, net		266
Other assets		119
Accounts payable and other liabilities		(109)
Other long-term liabilities		(83)
Net assets		448
Accumulated other comprehensive income		123
	$	571

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Segment Information - Reportable Segments (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) segment	Jun. 30, 2019 USD ($)
Segment Reporting Information
Number of reportable segments \| segment			3
Number of operating segments \| segment			3
Net sales:
Net sales	$ 1,418	$ 1,756	$ 2,979	$ 3,393
Segment operating profit:
Segment operating profit	95	236	264	436
Items excluded from segment operating profit:
Retained corporate costs and other charges	(33)	(28)	(54)	(53)
Restructuring, asset impairment and other charges	(71)	(40)	(71)	(40)
Strategic transaction costs	(4)		(4)
Pension settlement charges	(8)	(2)	(8)	(2)
Charge for deconsolidation of Paddock			14
Interest expense, net	(98)	(68)	(151)	(132)
Earnings from continuing operations before income taxes
Earnings (loss) from continuing operations before income taxes	(119)	98	(38)	209
Reportable Segment Totals
Net sales:
Net sales	1,411	1,736	2,964	3,364
Americas
Net sales:
Net sales	724	934	1,555	1,815
Segment operating profit:
Segment operating profit	52	144	155	257
Europe
Net sales:
Net sales	555	650	1,132	1,246
Segment operating profit:
Segment operating profit	42	90	103	169
Asia Pacific
Net sales:
Net sales	132	152	277	303
Segment operating profit:
Segment operating profit	1	2	6	10
Other
Net sales:
Net sales	$ 7	$ 20	$ 15	$ 29

Segment Information - Total Assets (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Assets
Total assets:	$ 9,579	$ 9,610	$ 10,723
Reportable Segment Totals
Assets
Total assets:	8,937	9,403	10,381
Americas
Assets
Total assets:	4,707	5,264	5,994
Europe
Assets
Total assets:	3,315	3,127	3,342
Asia Pacific
Assets
Total assets:	915	1,012	1,045
Other
Assets
Total assets:	$ 642	$ 207	$ 342

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue
Net sales	$ 1,418	$ 1,756	$ 2,979	$ 3,393
Reportable Segment Totals
Disaggregation of Revenue
Net sales	1,411	1,736	2,964	3,364
Americas
Disaggregation of Revenue
Net sales	724	934	1,555	1,815
Europe
Disaggregation of Revenue
Net sales	555	650	1,132	1,246
Asia Pacific
Disaggregation of Revenue
Net sales	132	152	277	303
Other
Disaggregation of Revenue
Net sales	7	20	15	29
Alcoholic beverages (beer, wine, spirits)
Disaggregation of Revenue
Net sales	910	1,169	1,930	2,274
Alcoholic beverages (beer, wine, spirits) \| Americas
Disaggregation of Revenue
Net sales	427	590	935	1,153
Alcoholic beverages (beer, wine, spirits) \| Europe
Disaggregation of Revenue
Net sales	395	474	806	907
Alcoholic beverages (beer, wine, spirits) \| Asia Pacific
Disaggregation of Revenue
Net sales	88	105	189	214
Food and other
Disaggregation of Revenue
Net sales	345	329	663	637
Food and other \| Americas
Disaggregation of Revenue
Net sales	198	191	387	372
Food and other \| Europe
Disaggregation of Revenue
Net sales	117	109	223	211
Food and other \| Asia Pacific
Disaggregation of Revenue
Net sales	30	29	53	54
Non-alcoholic beverages
Disaggregation of Revenue
Net sales	156	238	371	453
Non-alcoholic beverages \| Americas
Disaggregation of Revenue
Net sales	99	153	233	290
Non-alcoholic beverages \| Europe
Disaggregation of Revenue
Net sales	43	67	103	128
Non-alcoholic beverages \| Asia Pacific
Disaggregation of Revenue
Net sales	$ 14	$ 18	$ 35	$ 35

Credit Losses (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Credit Losses
Accounts receivable, net	$ 696	$ 621	$ 1,275
Allowance for doubtful accounts	$ 30	$ 32	$ 34

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Inventories
Finished goods	$ 833	$ 872	$ 838
Raw materials	129	128	131
Operating supplies	42	45	46
Inventories	$ 1,004	$ 1,045	$ 1,015

Goodwill - By Reporting Unit (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Changes in the carrying amount of goodwill
Goodwill by reporting unit	$ 1,806.0	$ 1,934.0	$ 2,527.0
Europe reporting unit
Changes in the carrying amount of goodwill
Goodwill by reporting unit	0.9
Latin America reporting unit
Changes in the carrying amount of goodwill
Goodwill by reporting unit	0.5
North America reporting unit
Changes in the carrying amount of goodwill
Goodwill by reporting unit	$ 0.4
Risk of future impairment charges (as a percent)	2.00%

Derivative Instruments - Derivatives and Hedges (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Net Investment Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI	$ 1	$ 8	$ 5
Commodity forward contracts \| Cash Flow Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI	(1)	1	2
Foreign exchange risk \| Cash Flow Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI	(10)		(18)
Foreign exchange risk \| Cash Flow Hedges \| Maximum
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI		(1)
Interest rate swaps \| Cash Flow Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI		$ (1)	$ (1)
Interest rate swaps \| Cash Flow Hedges \| Maximum
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI	$ (1)

Derivative Instruments - Balance Sheet Classification (Details) € in Millions, $ in Millions	Jun. 30, 2020 EUR (€)	Jun. 30, 2020 USD ($)	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 USD ($)	Jun. 30, 2019 EUR (€)	Jun. 30, 2019 USD ($)
Derivatives, Fair Value
Total asset derivatives		$ 41		$ 38		$ 46
Total liability derivatives		69		24		40
Current derivative asset		20		8		13
Current derivative liability		14				3
Noncurrent derivative asset		21		30		33
Noncurrent derivative liability		55		24		37
Derivatives designated as hedging instruments
Derivatives, Fair Value
Total asset derivatives		36		36		44
Total liability derivatives		64		24		39
Derivatives designated as hedging instruments \| Commodity forward contracts
Derivatives, Fair Value
Notional amount		11		13		19
Total asset derivatives				1		2
Total liability derivatives		1				1
Derivatives designated as hedging instruments \| Interest rate swaps - fair value hedges
Derivatives, Fair Value
Notional amount \| €	€ 725		€ 725		€ 725
Total asset derivatives		14		8		15
Total liability derivatives				2
Derivatives designated as hedging instruments \| Interest rate swaps - cash flow hedges
Derivatives, Fair Value
Notional amount		105		105		480
Total asset derivatives						1
Total liability derivatives				1		2
Derivatives designated as hedging instruments \| Cash flow hedges of foreign exchange risk
Derivatives, Fair Value
Notional amount		1,424		1,424		1,210
Total asset derivatives		18		25		20
Total liability derivatives		55		21		30
Derivatives not designated as hedging instruments \| Foreign exchange derivative contracts
Derivatives, Fair Value
Notional amount		279		283		292
Total asset derivatives		5		2		2
Total liability derivatives		5				1
Net Investment Hedges \| Derivatives designated as hedging instruments
Derivatives, Fair Value
Notional amount \| €	€ 471		€ 160		€ 160
Total asset derivatives		4		$ 2		6
Total liability derivatives		$ 8				$ 6

Derivative Instruments - Effects of Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Derivatives not designated as hedging instruments \| Foreign exchange derivative contracts
Derivatives and Hedges
Amount of Gain (Loss) Recognized in Other income (expense), net	$ (2)	$ 1	$ 10	$ 7
Derivatives designated as hedging instruments
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(63)	(7)	5	7
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(50)	4	11	14
Derivatives designated as hedging instruments \| Net Investment Hedges \| Interest expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(8)		(3)	5
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	2	2	3	3
Derivatives designated as hedging instruments \| Commodity forward contracts \| Cash Flow Hedges \| Cost of goods sold
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	1	(1)	(2)	1
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)				(1)
Derivatives designated as hedging instruments \| Foreign exchange risk \| Cash Flow Hedges \| Other expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	(56)	(5)	10	2
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(51)	2	9	12
Derivatives designated as hedging instruments \| Interest rate risk \| Cash Flow Hedges \| Interest expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)		$ (1)		$ (1)
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ (1)		$ (1)

Restructuring Accruals (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Restructuring Accruals (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring accrual
Beginning balance, restructuring reserve	$ 34	$ 53	$ 45	$ 69
Charges	67	32	67	32
Write-down of assets to net realizable value	(40)		(40)
Net cash paid, principally severance and related benefits	(14)	(14)	(22)	(29)
Other, including foreign exchange translation		(1)	(3)	(2)
Ending balance, restructuring reserve	47	70	47	70
Restructuring, Additional Information
Carrying value of impaired assets	1		1
Selling and administrative expense
Restructuring accrual
Charges		2		2
Other expense, net
Restructuring accrual
Charges		30		30
Employee Costs
Restructuring accrual
Beginning balance, restructuring reserve	22	34	32	47
Charges	21	27	21	27
Net cash paid, principally severance and related benefits	(13)	(11)	(21)	(24)
Other, including foreign exchange translation			(2)
Ending balance, restructuring reserve	30	50	30	50
Asset Impairment
Restructuring accrual
Charges	40		40
Write-down of assets to net realizable value	(40)		(40)
Other Exit Costs
Restructuring accrual
Beginning balance, restructuring reserve	12	19	13	22
Charges	6	5	6	5
Net cash paid, principally severance and related benefits	(1)	(3)	(1)	(5)
Other, including foreign exchange translation		(1)	(1)	(2)
Ending balance, restructuring reserve	$ 17	$ 20	$ 17	$ 20

Pension Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pension Benefit Plans (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
U.S.
Components of net periodic pension cost
Service cost	$ 3	$ 3	$ 6	$ 6
Interest cost	13	15	25	30
Expected asset return	(20)	(22)	(41)	(44)
Amortization:
Amortization of actuarial loss	14	10	28	20
Net periodic pension cost	10	6	18	12
Non-U.S.
Components of net periodic pension cost
Service cost	4	3	7	6
Interest cost	6	7	13	15
Expected asset return	(12)	(11)	(24)	(22)
Amortization:
Amortization of actuarial loss	3	3	6	5
Net periodic pension cost	1	$ 2	2	$ 4
Pension Benefit Plans \| Non-U.S.
Amortization:
Settlements	$ 8		$ 8

Income Taxes (Details)	6 Months Ended
Income Taxes (Details)	Jun. 30, 2020
Income Taxes
Statutory U.S. Federal tax rate (as a percent)	21.00%

Debt (Details) $ / shares in Units, € in Millions, $ in Millions	1 Months Ended			3 Months Ended	6 Months Ended
	May 31, 2020 USD ($)	Nov. 30, 2019 EUR (€)	Jul. 31, 2019 EUR (€)	Jun. 30, 2020 USD ($)	Jun. 30, 2020 USD ($) item agreement	Dec. 31, 2021 item	Jun. 30, 2021 item	Jun. 30, 2020 EUR (€) item	Jun. 30, 2020 USD ($) item $ / shares	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 USD ($)	Jun. 30, 2019 EUR (€)	Jun. 30, 2019 USD ($)
Debt Instrument
Total long-term debt									$ 6,376		$ 5,484		$ 6,265
Less amounts due within one year									273		49		30
Long-term debt									6,103		5,435		6,235
Number financial maintenance covenants \| agreement					1
Maximum Leverage Ratio may increase \| item					0.5
Maximum
Debt Instrument
Maximum Borrowing Capacity									$ 3,000
Leverage Ratio \| item								5.0	5.0
Maximum \| Forecast
Debt Instrument
Leverage Ratio \| item						4.50	4.75
Secured Credit Agreement
Debt Instrument
Unused Credit									$ 667
Weighted average interest rate (as a percent)								1.64%	1.64%
Secured Credit Agreement \| Minimum
Debt Instrument
Interest rate margin, Eurocurrency Rate loans (as a percent)								1.00%	1.00%
Interest rate margin, Base Rate loans (as a percent)					0.00%
Secured Credit Agreement \| Maximum
Debt Instrument
Interest rate margin, Eurocurrency Rate loans (as a percent)								1.50%	1.50%
Interest rate margin, Base Rate loans (as a percent)					0.50%
Revolving Loans
Debt Instrument
Total long-term debt									$ 823				389
Term Loan A
Debt Instrument
Total long-term debt									1,477		1,477		1,496
Face Value									1,500
Net proceeds, after deducting debt issuance costs					$ 1,477
Other secured debt
Debt Instrument
Total long-term debt									$ 225		333		454
Debt redeemed	$ 105
Senior Notes
Debt Instrument
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees				$ 38	$ 38
Senior Notes 6.75%, due 2020 (500 million EUR)
Debt Instrument
Total long-term debt												€ 500	567
Interest rate, stated percentage		6.75%	6.75%					6.75%	6.75%
Debt redeemed \| €		€ 250	€ 250
4.875%, due 2021 (0 million EUR at June 30, 2020, 132 million EUR December 31, 2019 and 330 million EUR at June 30, 2019)
Debt Instrument
Total long-term debt								€ 0		€ 118	132	330	374
Interest rate, stated percentage	4.875%	4.875%						4.875%	4.875%
Debt redeemed	$ 130	€ 212
Senior Notes 5.00%, due 2022
Debt Instrument
Total long-term debt									$ 81		497		497
Interest rate, stated percentage	5.00%							5.00%	5.00%
Debt redeemed	$ 419
Fair values of fixed rate debt obligations
Principal Amount									$ 81
Indicated Market Price $ (in dollars per share) \| $ / shares									$ 100.35
Fair Value									$ 81
Senior Notes 4.00%, due 2023
Debt Instrument
Total long-term debt									$ 307		307		307
Interest rate, stated percentage								4.00%	4.00%
Fair values of fixed rate debt obligations
Principal Amount									$ 310
Indicated Market Price $ (in dollars per share) \| $ / shares									$ 98.61
Fair Value									$ 306
Senior Notes 5.875%, due 2023
Debt Instrument
Total long-term debt									$ 690		689		689
Interest rate, stated percentage								5.875%	5.875%
Fair values of fixed rate debt obligations
Principal Amount									$ 700
Indicated Market Price $ (in dollars per share) \| $ / shares									$ 103.07
Fair Value									$ 722
Senior Notes 3.125%, due 2024 (725 million EUR)
Debt Instrument
Total long-term debt								€ 725	$ 835	725	824	€ 725	845
Interest rate, stated percentage								3.125%	3.125%
Fair values of fixed rate debt obligations
Principal Amount								€ 725	$ 815
Indicated Market Price $ (in dollars per share) \| $ / shares									$ 98.74
Fair Value									$ 804
Senior Notes 6.375%, due 2025
Debt Instrument
Total long-term debt									$ 296		295		296
Interest rate, stated percentage								6.375%	6.375%
Fair values of fixed rate debt obligations
Principal Amount									$ 300
Indicated Market Price $ (in dollars per share) \| $ / shares									$ 104.61
Fair Value									$ 314
Senior Notes, 5.375% due 2025
Debt Instrument
Total long-term debt									$ 297		297		298
Interest rate, stated percentage								5.375%	5.375%
Fair values of fixed rate debt obligations
Principal Amount									$ 300
Indicated Market Price $ (in dollars per share) \| $ / shares									$ 100.39
Fair Value									$ 301
Senior Notes 2.875%, due 2025 (500 million EUR)
Debt Instrument
Total long-term debt		€ 500						€ 500	$ 554	€ 500	552
Interest rate, stated percentage		2.875%						2.875%	2.875%
Net proceeds, after deducting debt issuance costs \| €		€ 492
Fair values of fixed rate debt obligations
Principal Amount								€ 500	$ 562
Indicated Market Price $ (in dollars per share) \| $ / shares									$ 96.92
Fair Value									$ 545
Senior Notes 6.625%, due 2027
Debt Instrument
Total long-term debt	$ 700								$ 691
Interest rate, stated percentage	6.625%							6.625%	6.625%
Net proceeds, after deducting debt issuance costs	$ 690
Fair values of fixed rate debt obligations
Principal Amount									$ 700
Indicated Market Price $ (in dollars per share) \| $ / shares									$ 104.15
Fair Value									$ 729
Finance leases
Debt Instrument
Total long-term debt									88		70		41
Other
Debt Instrument
Total long-term debt									12		$ 11		$ 12
Revolving Credit Facility
Debt Instrument
Total long-term debt									300
Additional default interest rate per annum applied to all obligations owed under the Agreement					2.00%
Revolving Credit Facility \| Minimum
Debt Instrument
Facility fee payable (as a percent)					0.20%
Revolving Credit Facility \| Maximum
Debt Instrument
Facility fee payable (as a percent)					0.30%
Multicurrency Revolving Credit Facility
Debt Instrument
Total long-term debt									$ 1,200

Contingencies - Asbestos (Details)	3 Months Ended	6 Months Ended	12 Months Ended
Contingencies - Asbestos (Details)	Mar. 31, 2020 USD ($)	Jun. 30, 2020 USD ($) lawsuit	Dec. 31, 2019 USD ($)	Jan. 06, 2020 USD ($)	Dec. 31, 1993 USD ($)
Loss contingencies
Sale of goods containing asbestos from 1948 to 1958		$ 40,000,000
Liability from deconsolidation		471,000,000
Charge for deconsolidation of Paddock		(14,000,000)
Deconsolidation investing outflow		$ 47,000,000
Number of pending plaintiffs and claimants \| lawsuit		850
Approximate number of claims disposed \| lawsuit		401,200
Average indemnity payment per claim		$ 10,200
Asbestos-related cash payments			$ 151,000,000
Cash payments per claim disposed including legal costs			129,000
Asbestos-related liability, total amount accrued beginning in 1993 through current reporting period before insurance recoveries		$ 5,000,000,000.0			$ 975,000,000
Accrual of asbestos related liability			486,000,000
Asbestos related charges			$ 35,000,000
Paddock
Loss contingencies
Cash				$ 47,000,000
Liability from deconsolidation				$ 471,000,000
Charge for deconsolidation of Paddock	$ (14,000,000)
Deconsolidation investing outflow	$ 47,000,000

Share Owners' Equity (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Increase (Decrease) in Share Owners' Equity
Balance	$ 76	$ 1,010	$ 564	$ 900
Issuance of common stock				$ 2
Issuance of common stock (in shares)				100
Reissuance of common stock	$ 3	$ 3	$ 5	$ 5
Reissuance of common stock (in shares)	300	100	500	200
Treasury shares purchased				$ (38)
Treasury shares purchased (in shares)				2,100
Stock compensation	$ 4	$ 6	$ 5	$ 11
Stock compensation (in shares)	100	500	800	1,700
Net earnings (loss)	$ (101)	$ 70	$ (46)	$ 154
Other comprehensive income (loss)	60	8	(476)	68
Dividends declared		(7)	(8)	(7)
Other			(2)	(5)
Balance	42	1,090	42	1,090
Common Stock
Increase (Decrease) in Share Owners' Equity
Balance	2	2	2	2
Balance	2	2	2	2
Capital in Excess of Par Value
Increase (Decrease) in Share Owners' Equity
Balance	3,128	3,130	3,130	3,124
Issuance of common stock				2
Reissuance of common stock	(4)		(7)	(1)
Stock compensation	4	6	5	11
Balance	3,128	3,136	3,128	3,136
Treasury Stock
Increase (Decrease) in Share Owners' Equity
Balance	(730)	(745)	(733)	(705)
Reissuance of common stock	7	3	12	6
Treasury shares purchased				(38)
Other			(2)	(5)
Balance	(723)	(742)	(723)	(742)
Retained Earnings (Loss)
Increase (Decrease) in Share Owners' Equity
Balance	(47)	412	(89)	333
Net earnings (loss)	(101)	65	(51)	144
Dividends declared		(7)	(8)	(7)
Balance	(148)	470	(148)	470
Accumulated Other Comprehensive Loss.
Increase (Decrease) in Share Owners' Equity
Balance	(2,370)	(1,911)	(1,843)	(1,968)
Other comprehensive income (loss)	62	20	(465)	77
Balance	(2,308)	(1,891)	(2,308)	(1,891)
Non-controlling Interests
Increase (Decrease) in Share Owners' Equity
Balance	93	122	97	114
Net earnings (loss)		5	5	10
Other comprehensive income (loss)	(2)	(12)	(11)	(9)
Balance	$ 91	$ 115	$ 91	$ 115

Share Owners' Equity - Authorization of common stock (Details) - $ / shares	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Authorization of common stock
Common stock, shares authorized	250,000,000
Common stock, par value (in dollars per share)	$ 0.01
Shares of common stock issued (including treasury shares)	189,294,000	188,447,000	188,435,000
Treasury stock, shares	32,338,000	32,573,000	32,978,000

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Other comprehensive income (loss)	$ 60	$ 8	$ (476)	$ 68
Net Effect of Exchange Rate Fluctuations
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,377)	(843)	(813)	(889)
Change before reclassifications	56	13	(508)	59
Other comprehensive income (loss)	56	13	(508)	59
Balance at end of the period	(1,321)	(830)	(1,321)	(830)
Change in Certain Derivative Instruments
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(8)	(13)	(14)	(18)
Change before reclassifications	35	(14)	(17)	(24)
Amounts reclassified from accumulated other comprehensive income (loss)	(50)	4	11	14
Translation effect	1	1		3
Tax effect	1		(1)	3
Other comprehensive income (loss)	(13)	(9)	(7)	(4)
Balance at end of the period	(21)	(22)	(21)	(22)
Employee Benefit Plans
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(985)	(1,055)	(1,016)	(1,061)
Change before reclassifications	7		5	(2)
Amounts reclassified from accumulated other comprehensive income (loss)	17	12	34	25
Translation effect	(3)	4	13	(1)
Tax effect	(2)		(2)
Other comprehensive income (loss)	19	16	50	22
Balance at end of the period	(966)	(1,039)	(966)	(1,039)
Accumulated Other Comprehensive Loss.
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(2,370)	(1,911)	(1,843)	(1,968)
Change before reclassifications	98	(1)	(520)	33
Amounts reclassified from accumulated other comprehensive income (loss)	(33)	16	45	39
Translation effect	(2)	5	13	2
Tax effect	(1)		(3)	3
Other comprehensive income (loss)	62	20	(465)	77
Balance at end of the period	$ (2,308)	$ (1,891)	$ (2,308)	$ (1,891)

Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Other Expense, Net (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other Expense, Net
Restructuring, asset impairment and other charges	$ 71	$ 38	$ 71	$ 38
Pension settlement charges	8	2	8	2
Intangible amortization expense	5	10	15	20
Strategic transaction costs	4		4
Foreign currency exchange loss	1		1	3
Royalty income	(2)	(4)	(6)	(7)
Charge for deconsolidation of Paddock (see Note 11)			14
Other expense (income), net		9	(3)	9
Other expense, net	$ 87	$ 55	$ 104	$ 65

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net earnings (loss)	$ (101)	$ 65	$ (51)	$ 144
Denominator (in thousands):
Denominator for basic earnings per share - weighted average shares outstanding (in shares)	156,790,000	155,338,000	156,435,000	154,852,000
Effect of dilutive securities:
Stock options and other (in shares)		1,133,000		1,703,000
Denominator for diluted earnings per share - adjusted weighted average shares outstanding (in shares)	156,790,000	156,471,000	156,435,000	156,555,000
Basic earnings (loss) per share:
Net earnings (loss) from continuing operations attributable to the Company (in dollars per share)	$ (0.64)	$ 0.42	$ (0.32)	$ 0.94
Loss from discontinued operations (in dollars per share)				(0.01)
Net earnings (loss) (in dollars per share)	(0.64)	0.42	(0.32)	0.93
Diluted earnings per share:
Net earnings (loss) from continuing operations attributable to the Company (in dollars per share)	(0.64)	0.42	(0.32)	0.93
Loss from discontinued operations (in dollars per share)				(0.01)
Net earnings (loss) (in dollars per share)	$ (0.64)	$ 0.42	$ (0.32)	$ 0.92
Weighted average shares of common stock attributable to options not included in diluted earnings per share (in shares)	3,751,691	1,603,692	3,142,704	1,549,995

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Income taxes paid (received)	$ 39	$ 58
Interest paid in cash	139	128
Cash interest included in note repurchase premiums	36
Amount of receivables sold	437	173	$ 539
Change in cash from operating activities from factoring program	102	427
U.S.
Income taxes paid (received)	(1)	(3)
Non-U.S.
Income taxes paid (received)	$ 40	$ 61

New Accounting Pronouncement (Details) $ in Millions	Jun. 30, 2020 USD ($)
ASU 2016-13 Financial Instruments - Credit Losses
Cumulative effect	$ 0

Business Combinations (Details) $ in Millions	Jun. 28, 2019 USD ($) Plant T	Jun. 30, 2020 USD ($)
Adjustment
Measurement period adjustments
Net assets acquired		$ (7)
Nueva Fbrica Nacional de Vidrio, S. de R.L. de C.V. ("Nueva Fanal")
Measurement period adjustments
Net assets acquired	$ 195	$ 188
Number of furnaces in the Nueva Fanal facility \| Plant	3
Tonnage of glass containers produced by Nueva Fbrica Nacional de Vidrio, S. de R.L. de C.V. ("Nueva Fanal") \| T	240,000
Pro forma financial information	$ 0

Business Combinations - Subsequent Adjustments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 28, 2019
Adjustment
Fair values of the assets and liabilities assumed
Accounts receivable	$ (1)
Goodwill	20
Intangibles	(32)
Net property, plant, and equipment	33
Total assets acquired	20
Accounts payable	3
Accrued liabilities	(1)
Deferred tax liabilities	25
Net assets acquired	(7)
Nueva Fbrica Nacional de Vidrio, S. de R.L. de C.V. ("Nueva Fanal")
Fair values of the assets and liabilities assumed
Accounts receivable	41	$ 42
Inventory	17	17
Goodwill	20
Intangibles	3	35
Net property, plant, and equipment	162	129
Total assets acquired	243	223
Accounts payable	28	25
Accrued liabilities	2	3
Deferred tax liabilities	25
Net assets acquired	$ 188	$ 195

Subsequent Events (Details) $ in Thousands, $ in Millions			6 Months Ended
Subsequent Events (Details) $ in Thousands, $ in Millions	Jul. 31, 2020 USD ($)	Jul. 31, 2020 AUD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)
Subsequent Events
Cash and cash equivalents			$ 1,067,000	$ 371,000	$ 551,000
Accounts receivable, net			696,000	1,275,000	621,000
Property, plant and equipment, net			2,976,000	3,216,000	3,273,000
Other assets			1,471,000	1,615,000	1,544,000
Debt			(6,103,000)	(6,235,000)	(5,435,000)
Other long-term liabilities			(1,077,000)	(1,105,000)	$ (1,130,000)
Australia and New Zealand ("ANZ") \| Discontinued Operations
Subsequent Events
Pretax profits			6,000	$ 13,000
Cash and cash equivalents			45
Accounts receivable, net			56
Inventories and other			154
Property, plant and equipment, net			266
Other assets			119
Accounts payable and other			(109)
Other long-term liabilities			(83)
Net assets			448
Accumulated Other Comprehensive Income Adjustment			123
Total			$ 571
Subsequent Events \| Australia and New Zealand ("ANZ") \| Discontinued Operations
Subsequent Events
Gross proceeds	$ 677,000	$ 947
Related sale lease-back gross proceeds		$ 214
Percentage of proceeds received at closing (as a percent)	95.00%	95.00%
Time over which the remaining balance will be paid	12 months	12 months