Amcor plcAMCR
Amcor plc Segments Disclosure
Segments
The Company's business is organized and presented in two reportable segments based on product lines as outlined below.
In connection with the Merger, the Company renamed its reportable segments from Flexibles to Global Flexible Packaging Solutions and from Rigid Packaging to Global Rigid Packaging Solutions. Following the Merger, the historical results of the Flexibles reportable segment are presented within the Global Flexible Packaging Solutions reportable segment and those of the Rigid Packaging reportable segment within the Global Rigid Packaging Solutions reportable segment.
Global Flexible Packaging Solutions: Consists of operations that manufacture flexible and film packaging in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.
Global Rigid Packaging Solutions: Consists of operations that manufacture rigid containers and closures for a broad range of predominantly beverage and food products, including carbonated soft drinks, water, juices, sports drinks, milk-based beverages, spirits and beer, sauces, dressings, spreads and personal care items, and plastic caps for a wide variety of applications.
Other consists of the Company's undistributed corporate expenses including executive and functional compensation costs, equity method and other investments, intercompany eliminations, and other business activities.
In the fourth quarter of fiscal year 2025, following the Merger with Berry, the Company appointed Chief Operating Officers to lead each of its reportable segments. The Chief Operating Officers report directly to the Company's Chief Operating Decision Maker ("CODM") which the Company has determined is its Chief Executive Officer. The Company's measure of profit for its reportable segments is adjusted earnings before interest and taxes ("Adjusted EBIT"). The Company defines Adjusted EBIT as operating income adjusted to eliminate the impact of certain items that the Company does not consider indicative of its ongoing operating performance and to include equity in income/(loss) of affiliated companies, net of tax. The Company's management, including the CODM, uses Adjusted EBIT to evaluate segment performance and allocate resources. The accounting policies of the reportable segments are the same as those in the consolidated financial statements. The Company's CODM uses consolidated expense information in the evaluation of segment performance and to allocate resources and is not regularly provided disaggregated expense information for each of the reportable segments.
The following table presents information about reportable segments. Intersegment sales are not material and therefore are not presented in the table below.
| Years ended June 30, | ||||||||||||||||||||
| ($ in millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Global Flexible Packaging Solutions | $ | 10,872 | $ | 10,332 | $ | 11,154 | ||||||||||||||
| Global Rigid Packaging Solutions | 4,137 | 3,308 | 3,540 | |||||||||||||||||
| Other | — | — | — | |||||||||||||||||
| Net sales | $ | 15,009 | $ | 13,640 | $ | 14,694 | ||||||||||||||
| Global Flexible Packaging Solutions | $ | (9,414) | $ | (8,937) | $ | (9,725) | ||||||||||||||
| Global Rigid Packaging Solutions | (3,762) | (3,049) | (3,275) | |||||||||||||||||
| Other | (110) | (94) | (86) | |||||||||||||||||
| Segment expenses and other (1) | $ | (13,286) | $ | (12,080) | $ | (13,086) | ||||||||||||||
| Adjusted earnings before interest and taxes ("Adjusted EBIT") | ||||||||||||||||||||
| Global Flexible Packaging Solutions | $ | 1,458 | $ | 1,395 | $ | 1,429 | ||||||||||||||
| Global Rigid Packaging Solutions | 375 | 259 | 265 | |||||||||||||||||
| Other | (110) | (94) | (86) | |||||||||||||||||
| Adjusted EBIT | 1,723 | 1,560 | 1,608 | |||||||||||||||||
| Less: Amortization of acquired intangible assets from business combinations (2) | (246) | (167) | (160) | |||||||||||||||||
| Less: Impact of hyperinflation (3) | (16) | (53) | (24) | |||||||||||||||||
| Less: Transaction and integration (4) | (202) | — | — | |||||||||||||||||
| Less: Property and other losses, net (5) | — | — | (2) | |||||||||||||||||
| Add/(Less): Restructuring and other related activities, net (6) | (64) | (97) | 90 | |||||||||||||||||
| Less: CEO transition costs (7) | — | (8) | — | |||||||||||||||||
| Less: Inventory step-up amortization (8) | (133) | — | — | |||||||||||||||||
| Less: Accelerated merger-related compensation (9) | (41) | — | — | |||||||||||||||||
| Less: Other (10) | (21) | (22) | (2) | |||||||||||||||||
| Interest income | 49 | 38 | 31 | |||||||||||||||||
| Interest expense | (396) | (348) | (290) | |||||||||||||||||
| Equity in (income)/loss of affiliated companies, net of tax | (3) | 4 | — | |||||||||||||||||
| Income before income taxes and equity in (income)/loss of affiliated companies | $ | 650 | $ | 907 | $ | 1,251 | ||||||||||||||
(1)Segment expenses and other includes primarily cost of goods sold, selling, general, and administrative expenses, research and development expenses, other income/(expenses), net, and other non-operating income.
(2)Amortization of acquired intangible assets from business combinations includes amortization expense related to all acquired intangible assets from past acquisitions.
(3)Impact of hyperinflation includes the adverse impact of highly inflationary accounting for subsidiaries in Argentina where the functional currency was the Argentine Peso.
(4)Transaction and integration includes incremental costs related to the Merger. Refer to Note 5 "Restructuring, Transaction, and Integration Expenses, Net".
(5)Property and other losses, net in fiscal year 2023 includes property claims and losses of $5 million and $3 million of net insurance recovery related to the closure of the Company's South African business.
(6)Restructuring and other related activities, net in fiscal year 2025 primarily includes costs incurred in connection with the 2023 Restructuring Plan and Berry Plan. Fiscal year 2024 primarily includes costs incurred in connection with the 2023 Restructuring Plan. Refer to Note 6, "Restructuring," for further information. Fiscal year 2023 includes a pre-tax net gain on the sale of the Company's Russian business of $215 million, incremental costs of $18 million, and restructuring and related expenses of $107 million incurred in connection with the conflict. Refer to Note 6, "Restructuring," for further information.
(7)CEO transition costs primarily reflect accelerated compensation, including share-based compensation, granted to the Company's former Chief Executive Officer who retired from that role in April 2024, and other transition related expenses.
(8)Inventory step-up amortization relates to additional amortization incurred on inventories in connection with the Merger.
(9)Accelerated merger-related compensation includes accelerated share-based compensation expense and severance incurred in connection with the Merger.
(10) Other in fiscal year 2025 includes various expense and income items primarily relating to pension settlements of $12 million and other minor items primarily including litigation fees and a loss on disposal of a non-core business. These expenses were partially offset by a pre-tax gain on the disposal of Bericap of $15 million. Refer to Note 4, "Acquisitions and Divestitures" for further information. Fiscal year 2024 includes fair value losses of $16 million on economic hedges, retroactive foil duties, certain litigation reserve adjustments, and pension settlements, partially offset by changes in contingent purchase consideration. Fiscal year 2023 includes other restructuring, acquisition, litigation, and integration expenses of $13 million, pension settlement expenses of $5 million, and fair value gains of $16 million on economic hedges.
The tables below present additional financial information by reportable segments:
Capital expenditures for the acquisition of long-lived assets by reportable segment were:
| Years ended June 30, | ||||||||||||||||||||
| ($ in millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Global Flexible Packaging Solutions | $ | 391 | $ | 372 | $ | 384 | ||||||||||||||
| Global Rigid Packaging Solutions | 182 | 112 | 133 | |||||||||||||||||
| Other | 7 | 8 | 9 | |||||||||||||||||
| Total capital expenditures for the acquisition of long-lived assets | $ | 580 | $ | 492 | $ | 526 | ||||||||||||||
Depreciation and amortization on long-lived assets by reportable segment were:
| Years ended June 30, | ||||||||||||||||||||
| ($ in millions) | 2025 | 2024 | 2023 | |||||||||||||||||
| Global Flexible Packaging Solutions | $ | 455 | $ | 447 | $ | 436 | ||||||||||||||
| Global Rigid Packaging Solutions | 249 | 130 | 125 | |||||||||||||||||
| Other | 12 | 6 | 8 | |||||||||||||||||
| Total depreciation and amortization on long-lived assets | $ | 716 | $ | 583 | $ | 569 | ||||||||||||||
Total assets by segment are not disclosed as the CODM does not use total assets by segment to evaluate segment performance or allocate resources and capital.
The Company did not have sales to a single customer that exceeded 10% of consolidated net sales for the fiscal years ended June 30, 2025, 2024, and 2023, respectively.
Sales by major product were:
| Years ended June 30, | ||||||||||||||||||||||||||
| ($ in millions) | Segment | 2025 | 2024 | 2023 | ||||||||||||||||||||||
| Films and other flexible products | Global Flexible Packaging Solutions | $ | 9,841 | $ | 9,310 | $ | 10,061 | |||||||||||||||||||
| Specialty flexible folding cartons | Global Flexible Packaging Solutions | 1,031 | 1,022 | 1,093 | ||||||||||||||||||||||
| Containers, preforms, and closures | Global Rigid Packaging Solutions | 4,137 | 3,308 | 3,540 | ||||||||||||||||||||||
| Net sales | $ | 15,009 | $ | 13,640 | $ | 14,694 | ||||||||||||||||||||
The following table provides long-lived asset information for the major countries in which the Company operates. Long-lived assets include property, plant, and equipment, net of accumulated depreciation and impairments.
| June 30, | ||||||||||||||
| ($ in millions) | 2025 | 2024 | ||||||||||||
| United States of America | $ | 3,872 | $ | 1,717 | ||||||||||
| Other countries (1) | 4,330 | 2,046 | ||||||||||||
| Long-lived assets | $ | 8,202 | $ | 3,763 | ||||||||||
(1)Includes the Company's country of domicile, Jersey. The Company had no long-lived assets in Jersey in any period shown. No individual country represented more than 10% of the respective totals.
The following tables disaggregate net sales information by geography in which the Company operates based on manufacturing or selling operations:
| Year Ended June 30, 2025 | ||||||||||||||||||||
| ($ in millions) | Global Flexible Packaging Solutions | Global Rigid Packaging Solutions | Total | |||||||||||||||||
| North America | $ | 4,429 | $ | 2,765 | $ | 7,194 | ||||||||||||||
| Latin America | 1,005 | 785 | 1,790 | |||||||||||||||||
| Europe (1) | 3,792 | 529 | 4,321 | |||||||||||||||||
| Asia Pacific | 1,646 | 58 | 1,704 | |||||||||||||||||
| Net sales | $ | 10,872 | $ | 4,137 | $ | 15,009 | ||||||||||||||
| Year Ended June 30, 2024 | ||||||||||||||||||||
| ($ in millions) | Global Flexible Packaging Solutions | Global Rigid Packaging Solutions | Total | |||||||||||||||||
| North America | $ | 4,095 | $ | 2,508 | $ | 6,603 | ||||||||||||||
| Latin America | 1,113 | 800 | 1,913 | |||||||||||||||||
| Europe (1) | 3,507 | — | 3,507 | |||||||||||||||||
| Asia Pacific | 1,617 | — | 1,617 | |||||||||||||||||
| Net sales | $ | 10,332 | $ | 3,308 | $ | 13,640 | ||||||||||||||
| Year Ended June 30, 2023 | ||||||||||||||||||||
| ($ in millions) | Global Flexible Packaging Solutions | Global Rigid Packaging Solutions | Total | |||||||||||||||||
| North America | $ | 4,411 | $ | 2,745 | $ | 7,156 | ||||||||||||||
| Latin America | 1,114 | 795 | 1,909 | |||||||||||||||||
| Europe (1) | 3,952 | — | 3,952 | |||||||||||||||||
| Asia Pacific | 1,677 | — | 1,677 | |||||||||||||||||
| Net sales | $ | 11,154 | $ | 3,540 | $ | 14,694 | ||||||||||||||
(1)Includes the Company's country of domicile, Jersey. The Company had no sales in Jersey in the periods shown.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 15, 2025 | Showing above |
| 2024 | Aug 16, 2024 | |
| 2023 | Aug 17, 2023 | |
| 2022 | Aug 18, 2022 | |
| 2021 | Aug 24, 2021 | |
| 2020 | Aug 27, 2020 | |
| 2019 | Sep 3, 2019 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.