O-I Glass, Inc. /DE/

Listed Company

OICIK 0000812074NYSELarge AcceleratedGlass ContainersDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-129.00M

Total Assets

$9.24B

Equity

$1.29B

Shares Out

153.30M

Op. Cash Flow

$600.00M

Business

O-I Glass, Inc. /DE/ manufactures glass containers and related packaging products for the global rigid packaging market. It produces glass containers for alcoholic beverages (beer, wine, spirits), non-alcoholic beverages, food, pharmaceuticals and other consumer goods in a range of sizes, shapes and colors and pursues product and manufacturing innovation. The company reports two geographic business segments—Americas and Europe—operating 69 glass manufacturing plants across 19 countries. It sells primarily under annual or multi-year direct supply agreements, with some sales through distributors, and locates plants near customers.

Summary from filing dated 2025-02-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	6,426	6,531	7,105	6,856	6,357
Cost of goods sold	−5,317	−5,486	−5,609	−5,643	−5,266
Gross profit	1,109	1,045	1,496	1,213	1,091
Selling and administrative expense	−434	−445	−540	−496	−433
Research, development and engineering expense	−42	−80	−92	−79	−82
Interest expense, net	−341	−335	−342	−239	−216
Equity earnings	119	79	127	107	90
Other expense, net	−460	−226	−582	299	−118
Earnings (loss) before income taxes	−49	38	67	—	332
Provision for income taxes	−54	−126	−152	−178	−167
Net loss	−103	−88	−85	627	165
Net earnings attributable to noncontrolling interests	−26	−18	−18	−43	−23
Net loss attributable to the Company	−129	−106	−103	584	149
Net loss attributable to the Company (in dollars per share)	−0.84	−0.69	−0.67	3.76	0.95
Net loss attributable to the Company (in dollars per share)	−0.84	−0.69	−0.67	3.67	0.93

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	759	734	913	773	725
Trade receivables, net of allowances of $31 million and $30 million at December 31, 2025 and 2024, respectively	601	572	671	760	692
Inventories	1,002	963	1,071	848	816
Prepaid expenses and other current assets	239	209	229	222	237
Total current assets	2,601	2,478	2,884	2,603	2,519
Equity investments	735	661	743	695	643
Pension assets	128	92	66	60	150
Other assets	657	608	694	666	577
Intangibles, net	188	198	254	262	286
Goodwill	1,487	1,321	1,473	1,813	1,840
Total other assets	3,195	2,880	3,230	3,496	3,496
Land, at cost	227	208	234	217	237
Buildings and building equipment	1,376	1,146	1,194	1,102	1,134
Factory machinery and equipment	6,326	5,527	5,769	5,157	5,112
Transportation, office and miscellaneous equipment	92	73	74	71	72
Construction in progress	362	834	817	556	300
Property, plant and equipment, at cost	8,383	7,788	8,088	7,103	6,855
Less accumulated depreciation	4,936	4,492	4,533	4,141	4,038
Net property, plant and equipment	3,447	3,296	3,555	2,962	2,817
Total assets	9,243	8,654	9,669	9,061	8,832
Accounts payable	1,201	1,142	1,437	1,355	1,210
Salaries and wages	159	121	169	181	165
U.S. and foreign income taxes	41	49	90	77	41
Restructuring	131	75	—	—	—
Other accrued liabilities	395	357	402	399	345
Short-term loans	96	110	106	45	34
Long-term debt due within one year	66	306	142	300	38
Total current liabilities	2,089	2,160	2,346	2,357	1,846
Long-term debt	4,837	4,553	4,698	4,371	4,753
Deferred taxes	75	74	86	84	102
Pension benefits	202	193	248	225	284
Nonpension postretirement benefits	49	62	67	63	106
Other liabilities	546	407	480	433	289
Common stock, par value $.01 per share, 250,000,000 shares authorized, 183,530,836 and 184,851,162 shares issued (including treasury shares), respectively	2	2	2	2	2
Capital in excess of par value	3,031	3,053	3,086	3,079	3,090
Treasury stock, at cost, 30,558,356 and 30,783,642 shares, respectively	−667	−677	−681	−688	−701
Retained earnings	548	676	782	885	301
Accumulated other comprehensive loss	−1,620	−1,975	−1,580	−1,861	−1,972
Total share owners' equity of the Company	1,294	1,079	1,609	1,417	720
Noncontrolling interests	151	126	135	111	107
Total share owners' equity	1,445	1,205	1,744	1,528	827
Total liabilities and share owners' equity	9,243	8,654	9,669	9,061	8,832

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	391	395	385	352	356
Amortization of intangibles and other deferred items	88	91	98	102	93
Amortization of finance fees and debt discount	10	10	11	11	14
Deferred tax provision	−65	7	25	22	5
Pension expense	31	32	30	34	32
Stock-based compensation expense	25	14	43	33	8
Restructuring, asset impairment and related charges	445	208	97	50	28
Pension settlement and curtailment charges	5	5	19	20	74
Legacy environmental charge	4	11	—	—	—
Goodwill impairment	—	—	445	—	—
Equity investment impairment	—	25	—	—	—
Gain on sale of divested businesses and miscellaneous assets	−5	−6	−4	−55	−84
Pension contributions	−34	−32	−32	−26	−84
Cash paid for restructuring activities	−128	−41	−26	−20	−30
Legacy environmental settlement paid	−17	—	—	—	—
Change in components of working capital (See Note 20)	20	−125	−148	95	−13
Other, net	−67	−17	−40	−136	33
Cash provided by operating activities	600	489	818	154	687
Cash payments for property, plant and equipment	−432	−617	−688	−539	−398
Contributions and advances to joint ventures	—	−3	−10	−12	—
Cash proceeds on disposal of other businesses and misc. assets	56	29	11	98	122
Net cash proceeds (payments) for hedging activity	8	−29	4	−24	−2
Cash utilized in investing activities	−368	−620	−683	−97	−220
Additions to long-term debt	2,526	1,102	1,332	2,852	1,021
Repayments of long-term debt	−2,643	−1,043	−1,298	−2,897	−1,188
Increase (decrease) in short-term loans	−30	17	47	16	−17
Payment of finance fees	−18	−13	−22	−29	−16
Cash payments for hedging activity	−23	—	−40	133	−15
Distributions paid to noncontrolling interests	−16	−17	−6	−27	−16
Shares repurchased	−40	−40	−40	−40	−40
Other, net	−6	−14	—	−2	—
Cash utilized in financing activities	−250	−8	−27	6	−273
Effect of exchange rate fluctuations on cash	43	−40	32	−15	−29
Change in cash	25	−179	140	48	165

Filings

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