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Goodwill and Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets, Net  
Schedule of Goodwill

December 31, 2023

    

Automotive

    

Food Packaging

    

Home Fashion

    

Pharma

    

Consolidated

(in millions)

Gross carrying amount, Jan 1

$

337

$

6

$

22

$

13

$

378

Foreign Exchange

 

 

 

 

 

Gross carrying amount, Dec 31

 

337

 

6

 

22

 

13

 

378

Accumulated impairment, Jan 1

 

(87)

 

 

(3)

 

 

(90)

Impairment

 

 

 

 

 

Accumulated impairment, Dec 31

 

(87)

 

 

(3)

 

 

(90)

Net carrying value, Dec 31

$

250

$

6

$

19

$

13

$

288

December 31, 2022

    

Automotive

    

Food Packaging

    

Home Fashion

    

Pharma

    

Consolidated

(in millions)

Gross carrying amount, Jan 1

$

337

 

$

6

 

$

24

 

$

13

$

380

Foreign exchange

 

 

 

(2)

 

 

(2)

Gross carrying amount, Dec 31

 

337

 

6

 

22

 

13

 

378

Accumulated impairment, Jan 1

 

(87)

 

 

(3)

 

 

(90)

Impairment

 

 

 

 

 

Accumulated impairment, Dec 31

 

(87)

 

 

(3)

 

 

(90)

Net carrying value, Dec 31

$

250

$

6

$

19

$

13

$

288

Intangible assets, net

December 31, 2023

December 31, 2022

    

Gross

    

    

Net

    

Gross

    

    

Net

Carrying

Accumulated

Carrying

Carrying

Accumulated

Carrying

Amount

Amortization

Value

Amount

Amortization

Value

(in millions)

Definite-lived intangible assets:

 

  

 

  

 

  

 

  

 

  

 

  

Customer relationships

$

392

$

(229)

$

163

$

393

$

(212)

    

$

181

Developed technology

254

(90)

164

254

(62)

    

192

Other

 

164

 

(101)

 

63

 

167

 

(90)

 

77

$

810

$

(420)

$

390

$

814

$

(364)

$

450

Indefinite-lived intangible assets

 

  

 

  

$

76

 

  

 

  

$

83

Intangible assets, net

 

  

 

  

$

466

 

  

 

  

$

533

Schedule of Definite-Lived Intangible Assets, Future Amortization Expense

Year

    

Amount

(in millions)

2024

$

57

2025

 

56

2026

 

36

2027

 

35

2028

 

31

Thereafter

 

175

$

390