Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2019
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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 Public Float			$ 1,999,920,000
Entity Common Stock, Shares Outstanding		155,907,885
Entity Central Index Key	0000812074
Amendment Flag	false
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY

CONSOLIDATED RESULTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED RESULTS OF OPERATIONS - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED RESULTS OF OPERATIONS
Net sales	$ 6,691	$ 6,877	$ 6,869
Revenue, Product and Service [Extensible List]	Net sales	Net sales	Net sales
Cost of goods sold	$ (5,483)	$ (5,594)	$ (5,536)
Gross profit	1,208	1,283	1,333
Selling and administrative expense	(439)	(483)	(484)
Research, development and engineering expense	(68)	(70)	(60)
Interest expense, net	(311)	(261)	(268)
Equity earnings	78	77	77
Other expense, net (incl. goodwill impairment)	(729)	(269)	(323)
Earnings (loss) from continuing operations before income taxes	(261)	277	275
Provision for income taxes	(118)	(108)	(70)
Earnings (loss) from continuing operations	(379)	169	205
Gain (loss) from discontinued operations	(3)	113	(3)
Net earnings (loss)	(382)	282	202
Net earnings attributable to noncontrolling interests	(18)	(25)	(22)
Net earnings (loss) attributable to the Company	(400)	257	180
Amounts attributable to the Company:
Earnings (loss) from continuing operations	(397)	144	183
Gain (loss) from discontinued operations	(3)	113	(3)
Net earnings (loss) attributable to the Company	$ (400)	$ 257	$ 180
Basic earnings per share:
Earnings (loss) from continuing operations (in dollars per share)	$ (2.56)	$ 0.90	$ 1.12
Gain (loss) from discontinued operations (in dollars per share)	(0.02)	0.71	(0.01)
Net earnings (loss) (in dollars per share)	(2.58)	1.61	1.11
Diluted earnings per share:
Earnings (loss) from continuing operations (in dollars per share)	(2.56)	0.89	1.11
Gain (loss) from discontinued operations (in dollars per share)	(0.02)	0.70	(0.01)
Net earnings (loss) (in dollars per share)	(2.58)	1.59	$ 1.10
Dividends declared per common share	$ 0.15	$ 0.05

CONSOLIDATED COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED COMPREHENSIVE INCOME
Net earnings (loss)	$ (382)	$ 282	$ 202
Other comprehensive income (loss):
Foreign currency translation adjustments	58	(174)	70
Pension and other postretirement benefit adjustments, net of tax	45	30	289
Change in fair value of derivative instruments, net of tax	4	(6)	(8)
Other comprehensive income (loss)	107	(150)	351
Total comprehensive income (loss)	(275)	132	553
Comprehensive income attributable to noncontrolling interests		(17)	(27)
Comprehensive income (loss) attributable to the Company	$ (275)	$ 115	$ 526

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 551	$ 512
Trade receivables, net of allowances of $32 million and $35 million at December 31, 2019 and 2018, respectively	621	549
Inventories	1,045	1,018
Prepaid expenses and other current assets	271	278
Total current assets	2,488	2,357
Other assets:
Equity investments	694	698
Pension assets	42	44
Other assets	808	602
Intangibles	371	400
Goodwill	1,934	2,513
Total other assets	3,849	4,257
Property, plant and equipment:
Land, at cost	275	244
Buildings and equipment, at cost:
Buildings and building equipment	1,267	1,141
Factory machinery and equipment	5,623	5,193
Transportation, office and miscellaneous equipment	104	102
Construction in progress	359	344
Property, plant and equipment, at cost	7,628	7,024
Less accumulated depreciation	4,355	3,939
Net property, plant and equipment	3,273	3,085
Total assets	9,610	9,699
Current liabilities:
Accounts payable	1,276	1,321
Salaries and wages	132	157
U.S. and foreign income taxes	32	34
Current portion of asbestos-related liabilities		160
Other accrued liabilities	431	375
Short-term loans	75	127
Long-term debt due within one year	49	33
Total current liabilities	1,995	2,207
Long-term debt	5,435	5,181
Deferred taxes	110	96
Pension benefits	528	534
Nonpension postretirement benefits	135	145
Other liabilities	357	194
Asbestos-related liabilities	486	442
Share owners' equity of the Company:
Common stock, par value $.01 per share, 250,000,000 shares authorized, 188,447,335 and 186,575,999 shares issued (including treasury shares), respectively	2	2
Capital in excess of par value	3,130	3,124
Treasury stock, at cost, 32,573,359 and 30,917,603 shares, respectively	(733)	(705)
Retained earnings (accumulated deficit)	(89)	333
Accumulated other comprehensive loss	(1,843)	(1,968)
Total share owners' equity of the Company	467	786
Noncontrolling interests	97	114
Total share owners' equity	564	900
Total liabilities and share owners' equity	$ 9,610	$ 9,699

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED BALANCE SHEETS
Trade receivables allowance	$ 32	$ 35
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	188,447,335	186,575,999
Treasury stock, shares	32,573,359	30,917,603

CONSOLIDATED SHARE OWNERS' EQUITY - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED SHARE OWNERS' EQUITY - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Common Stock
Increase (Decrease) in Share Owners' Equity
Balance	$ 2	$ 2	$ 2
Balance	2	2	2
Capital in Excess of Par Value
Increase (Decrease) in Share Owners' Equity
Balance	3,124	3,099	3,080
Issuance of common stock	2		1
Reissuance of common stock	(6)	(2)
Stock compensation	10	27	18
Balance	3,130	3,124	3,099
Treasury Stock
Increase (Decrease) in Share Owners' Equity
Balance	(705)	(551)	(560)
Reissuance of common stock	15	9	9
Treasury shares purchased	(38)	(163)
Other	(5)
Balance	(733)	(705)	(551)
Retained Earnings (accumulated deficit)
Increase (Decrease) in Share Owners' Equity
Balance	333	84	(96)
Dividends declared	(22)	(8)
Net earnings (loss)	(400)	257	180
Balance	(89)	333	84
Accumulated Other Comprehensive Loss.
Increase (Decrease) in Share Owners' Equity
Balance	(1,968)	(1,826)	(2,172)
Other comprehensive income (loss)	125	(142)	346
Balance	(1,843)	(1,968)	(1,826)
Non-controlling Interests
Increase (Decrease) in Share Owners' Equity
Balance	114	119	109
Net earnings (loss)	18	25	22
Other comprehensive income (loss)	(18)	(8)	5
Distributions to noncontrolling interests	(17)	(22)	(17)
Balance	97	114	119
Balance	900	927	363
Issuance of common stock	2		1
Reissuance of common stock	9	7	9
Treasury shares purchased	(38)	(163)
Stock compensation	10	27	18
Dividends declared	(22)	(8)
Net earnings (loss)	(382)	282	202
Other comprehensive income (loss)	107	(150)	351
Distributions to noncontrolling interests	(17)	(22)	(17)
Other	(5)
Balance	$ 564	$ 900	$ 927

CONSOLIDATED SHARE OWNERS' EQUITY (Parenthetical) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED SHARE OWNERS' EQUITY
Issuance of common stock (in shares)	100	30	100
Reissuance of common stock (in shares)	400	400	400
Stock compensation shares issued (in shares)	1,700	800	300
Treasury shares purchased (in shares)	2,100	8,600
Dividends declared per common share	$ 0.15	$ 0.05

CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED CASH FLOWS - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net earnings (loss)	$ (382)	$ 282	$ 202
Loss (gain) from discontinued operations	3	(113)	3
Non-cash charges (credits):
Depreciation	390	388	387
Amortization of intangibles and other deferred items	109	106	101
Amortization of finance fees and debt discount	10	13	13
Deferred tax provision (benefit)	7	(9)	(12)
Pension expense	32	32	29
Restructuring, asset impairment and related charges	69	92	72
Charges for asbestos-related cost	35	125	0
Pension settlement charges	26	74	218
Goodwill impairment charge	595
Gain on sale of equity investment	(107)
Other asset impairments	22
Pension contributions	(33)	(34)	(31)
Asbestos-related payments	(151)	(105)	(110)
Cash paid for restructuring activities	(54)	(32)	(62)
Change in components of working capital	(176)	15	(89)
Other, net	13	(41)	3
Cash provided by continuing operating activities	408	793	724
Cash utilized in discontinued operating activities	(3)	(2)	(3)
Total cash provided by operating activities	405	791	721
Investing activities:
Cash payments for property, plant and equipment	(426)	(536)	(441)
Acquisitions, net of cash acquired	(190)	(123)	(39)
Contributions and advances to joint ventures	(22)	(52)
Net cash proceeds on disposal of assets	197	11	14
Other, net	4	2
Cash utilized in continuing investing activities	(437)	(698)	(466)
Cash provided by discontinued investing activities			115
Total cash utilized in investing activities	(437)	(698)	(351)
Financing activities:
Additions to long-term debt	4,265	2,511	1,458
Repayments of long-term debt	(4,099)	(2,353)	(1,764)
Increase (decrease) in short-term loans	49	(18)	(36)
Payment of finance fees	(85)	(13)	(28)
Dividends paid	(31)
Net cash proceeds for hedging activity	28
Distributions paid to noncontrolling interests	(17)	(22)	(17)
Treasury shares repurchased	(38)	(163)
Issuance of common stock and other	(4)	5	(5)
Cash provided by (utilized in) financing activities	68	(53)	(392)
Effect of exchange rate fluctuations on cash	3	(20)	22
Increase in cash	39	20
Cash and cash equivalents at beginning of period	512	492	492
Cash and cash equivalents at end of period	$ 551	$ 512	$ 492

Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Significant Accounting Policies

Significant Accounting Policies

1. Significant Accounting Policies

Basis of Consolidated Statements The consolidated financial statements of the Company (as defined below) include the accounts of its subsidiaries. Newly acquired subsidiaries have been included in the consolidated financial statements from dates of acquisition.

The Company uses the equity method of accounting for investments in which it has a significant influence and generally an ownership interest of 20% to 50%. The Company monitors other than temporary declines in fair value and records reductions in carrying values when appropriate.

Nature of Operations The Company is a leading manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company has glass container operations located in 23 countries. The principal markets and operations for the Company’s products are in the Americas, Europe and Asia Pacific.

The term “Company,” as used herein and unless otherwise stated or indicated by context, refers to Owens-Illinois, Inc. (“O-I”) prior to the Corporate Modernization (as defined below) and to O-I Glass, Inc. (“O-I Glass”) after the Corporate Modernization.

On December 26 and 27, 2019, the Company implemented the Corporate Modernization pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated as of December 26, 2019, among O-I, O-I Glass and Paddock Enterprises, LLC (“Paddock”).

The Corporate Modernization was conducted pursuant to Section 251(g) of the General Corporation Law of the State of Delaware (the “DGCL”), which permits the creation of a holding company through a merger with a direct or indirect wholly owned subsidiary of the constituent corporation without stockholder approval. The Corporate Modernization involved a series of transactions (together with certain related transactions, the “Corporate Modernization”) pursuant to which (1) O-I formed a new holding company, O-I Glass, as a direct wholly owned subsidiary of O-I and a sister company to Owens-Illinois Group, Inc. (“O-I Group”), (2) O-I Glass formed a new Delaware limited liability company, Paddock, as a direct wholly owned subsidiary of O-I Glass, (3) O-I merged with and into Paddock, with Paddock continuing as the surviving entity and as a direct wholly owned subsidiary of O-I Glass (the “Merger”) and (4) Paddock distributed 100% of the capital stock of O-I Group to O-I Glass, as a result of which O-I Group is a direct wholly owned subsidiary of O-I Glass and sister company to Paddock.

Upon the effectiveness of the Merger, each share of O-I stock held immediately prior to the Merger automatically converted into a right to receive an equivalent corresponding share of O-I Glass stock, having the same designations, rights, powers and preferences and the qualifications, limitations, and restrictions as the corresponding share of O-I stock being converted. Immediately after the Corporate Modernization, O-I Glass had, on a consolidated basis, the same assets, businesses and operations as O-I had immediately prior to the Corporate Modernization. After the Corporate Modernization, O-I’s stockholders became stockholders of O-I Glass. The implementation of the Corporate Modernization was accounted for as a merger under common control.

Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management of the Company to make estimates and assumptions that affect certain amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates, at which time the Company would revise its estimates accordingly.

Foreign Currency Translation The assets and liabilities of non-U.S. subsidiaries are translated into U.S. dollars at year-end exchange rates and their results of operations are converted on an ongoing basis at the monthly average rate. Any related translation adjustments are recorded in accumulated other comprehensive income in share owners’ equity.

Revenue Recognition 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, 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.

Shipping and Handling Costs Shipping and handling costs are included with cost of goods sold in the Consolidated Results of Operations.

Stock-Based Compensation The Company has various stock-based compensation plans consisting of stock option grants and restricted share awards. Costs resulting from all share-based compensation plans are required to be recognized in the financial statements. A public entity is required to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the required service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the required service.

Cash The Company defines “cash” as cash and time deposits with maturities of three months or less when purchased. Outstanding checks in excess of funds on deposit are included in accounts payable.

Accounts Receivable Receivables are stated at amounts estimated by management to be the net realizable value. The Company charges off accounts receivable when it becomes apparent based upon age or customer circumstances that amounts will not be collected.

Allowance for Doubtful Accounts The allowance for doubtful accounts is established through charges to the provision for bad debts. The Company evaluates the adequacy of the allowance for doubtful accounts on a periodic basis. The evaluation includes historical trends in collections and write-offs, management’s judgment of the probability of collecting accounts and management’s evaluation of business risk.

Inventory Valuation Inventories are valued at the lower of average costs or market.

Goodwill Goodwill represents the excess of cost over fair value of net assets of businesses acquired. Goodwill is evaluated annually, as of October 1, for impairment or more frequently if an impairment indicator exists, by comparing the estimated fair value of each reporting unit to its carrying value. If the carrying value exceeds the fair value, an impairment charge is recorded in the period of the evaluation based on that difference.

Intangible Assets and Other Long-Lived Assets Intangible assets are amortized over the expected useful life of the asset. Amortization expense directly attributed to the manufacturing of the Company’s products is included in cost of goods sold. Amortization expense related to non-manufacturing activities is included in Selling and administrative expense and Other expense, net. The Company evaluates the recoverability of intangible assets and other long-lived assets based on undiscounted projected cash flows, excluding interest and taxes, when factors indicate that impairment may exist. If impairment exists, the asset is written down to fair value.

Property, Plant and Equipment Property, plant and equipment (“PP&E”) is carried at cost and includes expenditures for new facilities and equipment and those costs which substantially increase the useful lives or capacity of existing PP&E. In general, depreciation is computed using the straight-line method and recorded over the estimated useful life of the asset. Factory machinery and equipment is depreciated over periods ranging from 5 to 25 years with the majority of such assets (principally glass-melting furnaces and forming machines) depreciated over 7 to 15 years. Buildings and building equipment are depreciated over periods ranging from 10 to 50 years. Depreciation expense directly attributed to the manufacturing of the Company’s products is included in cost of goods sold. Depreciation expense related to non-manufacturing activities is included in selling and

administrative. Depreciation expense includes the amortization of assets recorded under capital leases. Maintenance and repairs are expensed as incurred. Costs assigned to PP&E of acquired businesses are based on estimated fair values at the date of acquisition. The Company evaluates the recoverability of PP&E based on undiscounted projected cash flows, excluding interest and taxes, when factors indicate that impairment may exist. If impairment exists, the asset is written down to fair value.

Derivative Instruments The Company uses derivative instruments to manage risks generally associated with foreign exchange rate, interest rate and commodity market volatility. Derivative financial instruments are included on the balance sheet at fair value. Changes in the fair value of derivative assets or liabilities (i.e., gains or losses) are recognized depending upon the type of hedging relationship and whether a hedge has been designated. For those derivative instruments that qualify for hedge accounting, the Company designates the hedging instrument, based upon the exposure being hedged, as a cash flow hedge, fair value hedge, or a hedge of a net investment in a foreign operation. For a derivative instrument designated as a fair value hedge, the gain or loss on the derivative is recognized in earnings immediately with the offsetting gain or loss on the hedged item. For a derivative instrument designated as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of Accumulated other comprehensive loss and is subsequently recognized in earnings when the hedged exposure affects earnings. If there is an ineffective portion of the change in fair value of the derivative it is recognized directly in earnings. For a derivative instrument designated as a hedge of a net investment in a foreign operation, the effective portion of the derivative's gain or loss is reported in Accumulated other comprehensive loss as part of the cumulative translation adjustment and amounts are reclassified out of accumulated other comprehensive loss into earnings when the hedged net investment is either sold or substantially liquidated. Changes in fair value of derivative instruments that do not qualify for hedge accounting are recognized immediately in current net earnings. The Company does not enter into derivative financial instruments for trading purposes and is not a party to leveraged derivatives. In the consolidated statement of cash flows, the settlement of derivative instruments designated as hedges is typically recorded in the category that is consistent with the nature of the underlying item being hedged. See Note 8 to the Consolidated Financial Statements for additional information about hedges and derivative financial instruments.

Fair Value Measurements Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Generally accepted accounting principles defines a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices in active markets;

Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

Level 3: Unobservable inputs for which there is little or no market data, which requires the Company to develop assumptions.

The carrying amounts reported for cash and short-term loans approximate fair value. In addition, carrying amounts approximate fair value for certain long-term debt obligations subject to frequently redetermined interest rates. Fair values for the Company’s significant fixed rate debt obligations are generally based on published market quotations.

New Accounting Standards

Leases - On January 1, 2019, the Company adopted ASU No. 2016-02, “Leases”. Under this guidance, lessees are required to recognize on the balance sheet a lease liability and a right-of-use asset for all leases, with the exception of short-term leases. The adoption of ASU No. 2016-02 had a significant impact on the Company’s consolidated balance sheet due to the recognition of approximately $214 million of lease liabilities with

corresponding right-of-use assets for operating leases as of January 1, 2019. The adoption of ASU No. 2016-02 had no material impact on the Company’s retained earnings, consolidated results of operations or consolidated cash flows.

The Company elected the package of practical expedients relating to the identification, classification and initial direct costs of leases commencing before the effective date, and the transitional practical expedient for the treatment of existing land easements; however, the Company did not elect the hindsight transitional practical expedient. The Company has also elected the practical expedient to not account for lease components (e.g., fixed payments including rent, real estate taxes and insurance costs) separately from the nonlease components (e.g., common-area maintenance costs). See Note 11, Leases, for additional information.

Credit Losses - In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. This guidance also requires enhanced disclosures regarding significant estimates and judgments used in estimating credit losses. The new guidance is effective for the Company on January 1, 2020. The adoption of ASU No. 2016-13 is not expected to have a material effect on the Company’s consolidated financial statements.

Income Taxes - In January 2018, the FASB issued ASU 2018-02, “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which gives entities the option to reclassify to retained earnings the tax effects resulting from the U.S. Tax Cuts and Jobs Act (the “Act”) related to items in Accumulated other comprehensive income (“AOCI”) that the FASB refers to as having been stranded in AOCI. The new guidance may be applied retrospectively to each period in which the effect of the Act is recognized in the period of adoption. The Company must adopt this guidance for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. The Company adopted this standard in the first quarter of 2019. The Company has not elected to reclassify income tax effects of the Act from AOCI to retained earnings.

Income Taxes - In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. The ASU removes certain exceptions to the general principles of ASC 740 in order to reduce cost and complexity of its application. In addition, the ASU improves consistency and simplifies GAAP in several areas of ASC 740 by clarifying and amending existing guidance. The guidance is effective for the Company for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted in interim or annual periods for which financial statements have not yet been issued, with any adjustments reflected as of the beginning of the fiscal year of adoption. Entities that elect early adoption must adopt all the amendments in the same period. The Company adopted this standard in the fourth quarter of 2019. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

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 is currently evaluating the impact that the adoption of this guidance will have on its 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.

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Information

Segment Information

2. Segment Information

The Company has three reportable segments and three operating segments based on its geographic locations: 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 is a non-GAAP financial measure that consists of consolidated earnings from continuing operations before interest income, interest expense, and provision for income taxes and excludes amounts related to certain items that management considers not representative of ongoing operations, 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.

Financial information regarding the Company’s reportable segments is as follows:


	2019		2018		2017
Net sales:
Americas	$	3,622	$	3,638	$	3,711
Europe		2,387		2,489		2,375
Asia Pacific		634		675		714
Reportable segment totals		6,643		6,802		6,800
Other		48		75		69
Net sales	$	6,691	$	6,877	$	6,869


	2019		2018		2017
Segment operating profit:
Americas	$	495	$	585	$	614
Europe		317		316		263
Asia Pacific		29		44		65
Reportable segment totals		841		945		942
Items excluded from segment operating profit:
Retained corporate costs and other charges		(97)		(106)		(104)
Charge for goodwill impairment		(595)
Charge for asbestos-related costs		(35)		(125)
Pension settlement charges		(26)		(74)		(218)
Restructuring, asset impairment and other		(114)		(102)		(77)
Strategic transaction and corp. modernization costs		(31)
Gain on sale of equity investment		107
Interest expense, net		(311)		(261)		(268)
Earnings (loss) from continuing operations before income taxes	$	(261)	$	277	$	275


							Reportable		Retained		Consoli-
					Asia		Segment		Corp Costs		dated
	Americas		Europe		Pacific		Totals		and Other		Totals
Total assets:
2019	$	5,264	$	3,127	$	1,012	$	9,403	$	207	$	9,610
2018		5,497		3,036		918		9,451		248		9,699
2017		5,411		3,133		1,001		9,545		211		9,756
Equity investments:
2019	$	491	$	101	$	102	$	694	$		$	694
2018		429		98		106		633		65		698
2017		259		95		114		468		57		525
Equity earnings:
2019	$	38	$	18	$	2	$	58	$	20	$	78
2018		39		21				60		17		77
2017		41		18				59		18		77
Capital expenditures:
2019	$	178	$	177	$	66	$	421	$	5	$	426
2018		255		187		92		534		2		536
2017		233		152		55		440		1		441
Depreciation and amortization expense:
2019	$	292	$	136	$	60	$	488	$	11	$	499
2018		293		136		55		484		10		494
2017		310		125		43		478		10		488

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


	U.S.		Non-U.S.		Total
2019	$	778	$	2,698	$	3,476
2018		681		2,404		3,085
2017		757		2,374		3,131

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


	U.S.		Non-U.S.		Total
2019	$	1,914	$	4,777	$	6,691
2018		2,020		4,857		6,877
2017		2,072		4,797		6,869

None of the years presented had a country with operations outside of the U.S. that accounted for more than 10% or more of consolidated net sales.

Revenue

12 Months Ended

Dec. 31, 2019

Revenue

Revenue

3. Revenue

On January 1, 2018, the Company adopted accounting standard ASC 606, “Revenue from Contracts with Customers,” and selected the modified retrospective transition method. The adoption of this new standard did not impact the Company’s consolidated results of operations or balance sheet and there was no cumulative effect of initially applying this new revenue standard to the opening balance of retained earnings.

Revenue is recognized at a point in time when obligations under the terms of the Company’s contracts and related purchase orders with its customers are satisfied. This occurs with the transfer of control of glass containers, which primarily takes place when products are shipped from the Company’s manufacturing or warehousing facilities to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods, which includes estimated provisions for rebates, discounts, returns and allowances. 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 year ended December 31, 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 Consolidated Balance Sheet. For the year ended December 31, 2019, revenue recognized from prior periods (for example, due to changes in transaction price) was not material.

The following table for the year ended December 31, 2019 disaggregates the Company’s revenue by customer end use:


	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	2,301	$	1,715	$	443	$	4,459
Food and other		760		433		114		1,307
Non-alcoholic beverages		561		239		77		877
Reportable segment totals	$	3,622	$	2,387	$	634	$	6,643
Other								48
Net sales							$	6,691

The following table for the year ended December 31, 2018 disaggregates the Company’s revenue by customer end use:


	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	2,281	$	1,780	$	493	$	4,554
Food and other		780		461		101		1,342
Non-alcoholic beverages		577		248		81		906
Reportable segment totals	$	3,638	$	2,489	$	675	$	6,802
Other								75
Net sales							$	6,877

Inventories

12 Months Ended

Dec. 31, 2019

Inventories

Inventories

4. Inventories

Major classes of inventory are as follows:


	2019		2018
Finished goods	$	872	$	849
Raw materials		128		125
Operating supplies		45		44
	$	1,045	$	1,018

Equity Investments

12 Months Ended

Dec. 31, 2019

Equity Investments

Equity Investments

5. Equity Investments

At December 31, 2019 the Company’s ownership percentage in affiliates include:


	O-I Ownership
Affiliates	Percentage		Business Type
Empresas Comegua S.A.	49.7	%	Glass container manufacturer
BJC O-I Glass Pte. Ltd.	50	%	Glass container manufacturer
CO Vidrieria SARL ("COV")	50	%	Glass container manufacturer
Rocky Mountain Bottle Company	50	%	Glass container manufacturer
Vetrerie Meridionali SpA ("VeMe")	50	%	Glass container manufacturer
Vetri Speciali SpA	50	%	Specialty glass manufacturer

Summarized information pertaining to the Company’s equity affiliates follows:


	2019		2018		2017
Equity in earnings:
Non-U.S.	$	58	$	52	$	45
U.S.		20		25		32
Total	$	78	$	77	$	77
Dividends received	$	42	$	72	$	48

Summarized combined financial information for equity affiliates is as follows (unaudited):


	2019		2018
At end of year:
Current assets	$	460	$	655
Non-current assets		1,356		1,306
Total assets		1,816		1,961
Current liabilities		303		342
Other liabilities and deferred items		158		242
Total liabilities and deferred items		461		584
Net assets	$	1,355	$	1,377


For the year:	2019		2018		2017
Net sales	$	908	$	972	$	883
Gross profit	$	232	$	234	$	242
Net earnings	$	114	$	184	$	165

In December 2019, the Company sold its 25 percent equity interest in Tata Chemicals (Soda Ash) Partners.

Based on an evaluation of each of the Company’s equity investments for the three years ending December 31, 2019, no investments exceeded the significant subsidiary thresholds per Rule 3-09 of Regulation S-X. As such, separate financial statements for the Company’s equity investments are not required to be filed with the Securities and Exchange Commission.

The Company made purchases of approximately $205 million and $255 million from equity affiliates in 2019 and 2018, respectively, and owed approximately $103 million and $111 million to equity affiliates as of December 31, 2019 and 2018, respectively.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2019, 2018, and 2017 are as follows:



	Europe		Americas		Other		Total
Balance as of January 1, 2017	$	808	$	1,649	$	5	$	2,462
Translation effects		105		23				128
Balance as of December 31, 2017		913		1,672		5		2,590
Translation effects		(39)		(38)				(77)
Balance as of December 31, 2018		874		1,634		5		2,513
Acquisition (divestiture) related adjustments				21		(5)		16
Impairment				(595)				(595)
Translation effects		(15)		15				—
Balance as of December 31, 2019	$	859	$	1,075	$	—	$	1,934

As part of its on-going assessment of goodwill, the Company determined that indicators of impairment had occurred during the third quarter of 2019. The triggering events were management’s update to its long-range plan, which indicated lower projected future cash flows for its North American reporting unit (in the Americas segment) as compared to the projections used in the most recent goodwill impairment test performed as of October 1, 2018, and a significant reduction in the Company’s share price. The Company’s business in North America has experienced declining shipments to its alcoholic beverage customers, primarily in the beer category, and this trend is likely to continue into the foreseeable future. These factors, combined with the narrow difference between the estimated fair value and carrying value of the North American reporting unit as of October 1, 2018, resulted in the Company performing an interim impairment analysis during the third quarter of 2019. As a result, the Company recorded a non-cash impairment charge of $595 million in the third quarter of 2019, which was equal to the excess of the North American reporting unit's carrying value over its fair value. Goodwill related to the Company’s other reporting units was determined to not be impaired as a result of the interim impairment analysis.

When performing its test for goodwill impairment in the third quarter of 2019, the Company compared the business enterprise value (“BEV”) of each reporting unit with its carrying value. The BEV was 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 are based on internal and external inputs, such as projected future cash flows of the reporting units, weighted average cost of capital, among other assumptions. The valuation approach utilized by management represents a Level 3 fair value measurement

measured on a non-recurring basis in the fair value hierarchy due to the Company’s use of unobservable inputs. The Company’s projected future cash flows incorporates management’s best estimates of the expected future results including, but not limited to, price trends, customer demand, material costs, asset replacement costs and any other known factors.

In addition to the above, goodwill is tested for impairment annually as of October 1. During the fourth quarter of 2019, the Company completed this testing through a qualitative assessment and, after evaluating the results, events and circumstances, the Company concluded that it had sufficient evidence that it was more likely than not that the estimated fair value of each of its reporting units exceeded its carrying value. The remaining balances of goodwill, primarily the $446 million of goodwill recorded on the North American reporting unit (Americas segment), remain susceptible to future impairment charges. If the Company’s projected future cash flows were substantially lower, or if the assumed weighted average cost of capital were substantially higher, the testing performed during 2019 may have indicated an impairment in one of the Company’s other reporting units or additional impairment of the North American reporting unit’s goodwill. Any impairment charges that the Company may take in the future could be material to its consolidated results of operations and financial condition.

The acquisition-related adjustment in the Americas segment (Latin America reporting unit) in 2019 relates to the Nueva Fanal acquisition that the Company completed on June 28, 2019. See Note 21 for additional details.

Goodwill for the Asia Pacific segment is $0 and net of accumulated impairment losses of $1,135 million as of December 31, 2019, 2018, and 2017. Goodwill for the Americas segment is net of accumulated impairment losses of $595 million as of December 31, 2019.

Intangible Assets

Customer list intangible assets are amortized using the accelerated amortization method over their 20 year lives. Net intangible asset values were $371 million and $400 million, which included accumulated amortization of $183 million and $142 million, for the years ended December 31, 2019 and 2018, respectively. Amortization expense for intangible assets was $41 million, $40 million and $41 million for the years ended December 31, 2019, 2018, and 2017, respectively. Estimated amortization related to intangible assets through 2024 is as follows: 2020, $41 million; 2021, $39 million; 2022, $36 million; 2023, $32 million; and 2024, $30 million. No impairment existed on these assets at December 31, 2019.

The Company has determined that the fair value measurements related to the customer list intangibles are based on significant unobservable inputs and are classified as Level 3 in the fair value hierarchy.

Other Assets

12 Months Ended

Dec. 31, 2019

Other Assets

Other Assets

7. Other Assets

Other assets (noncurrent) consist of the following at December 31, 2019 and 2018:


	2019		2018
Right of use lease assets	$	203	$	—
Deferred tax assets		178		191
Deferred returnable packaging costs		110		109
Repair part inventories		115		102
Capitalized software		74		79
Value added taxes		26		26
Other		102		95
	$	808	$	602

Capitalized software includes costs related to the acquisition and development of internal-use software. These costs are amortized over the estimated useful life of the software. Amortization expense for capitalized software was $13 million, $12 million and $12 million for 2019, 2018, and 2017, respectively. Estimated amortization related to capitalized software through 2024 is as follows: 2020, $13 million; 2021, $12 million; 2022, $12 million; 2023, $11 million; and 2024, $10 million.

Derivative Instruments

12 Months Ended

Dec. 31, 2019

Derivative Instruments

Derivative Instruments

8. 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 gain of $1 million at December 31, 2019 and an unrecognized gain of $1 million at December 31, 2018, related to the commodity forward contracts were included in 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.

During the second quarter of 2019, the Company terminated a portion of its cross-currency swaps, which resulted in a $15 million cash inflow recognized in the Cash Flow from financing activities section of the Consolidated Cash Flows.

An unrecognized loss of less than $1 million at December 31, 2019 and an unrecognized loss of $9 million at December 31, 2018, related to these cross-currency swaps, were included in Accumulated OCI, and will be reclassified into earnings within the next twelve 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.

During the second quarter of 2019, the Company terminated a portion of its interest rate swaps, which resulted in a $13 million cash inflow recognized in the Cash Flow from financing activities section of the Consolidated Cash Flows.

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 $1 million at year ended December 31, 2019 and an unrecognized loss of less than $1 million December 31, 2018 related to these interest rate swaps was included in Accumulated OCI, and will be reclassified into earnings within the next twelve 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 $8 million at year ended December 31, 2019 and an unrecognized gain of $4 million at December 31, 2018 related to these net investment hedges, was included in Accumulated OCI, and will be reclassified into earnings within the next twelve months.

Balance Sheet Classification

The following table shows the amount and classification (as noted above) of the Company’s derivatives at December 31, 2019 and 2018:


	Fair Value of
		Hedge Assets				Hedge Liabilities
		2019		2018		2019		2018
Derivatives designated as hedging instruments:
Commodity forward contracts (a)		$	1	$	1	$	—	$	—
Interest rate swaps - fair value hedges (b)			8		6		2		1
Cash flow hedges of foreign exchange risk (c)			25		10		21		1
Interest rate swaps - cash flow hedges (d)							1
Net investment hedges (e)			2		6				8
Total derivatives accounted for as hedges		$	36	$	23	$	24	$	10
Derivatives not designated as hedges:
Foreign exchange derivative contracts (f)			2		2				2
Total derivatives		$	38	$	25	$	24	$	12


Current		$	8	$	19	$	—	$	3
Noncurrent			30		6		24		9
Total derivatives		$	38	$	25	$	24	$	12

(a)	The notional amounts of the commodity forward contracts were $13 million and $21 million at December 31, 2019 and December 31, 2018, respectively. The maximum maturity dates were in 2020 for both periods.

(b)	The notional amounts of the interest rate swaps designated as fair value hedges were €725 million at December 31, 2019 and December 31, 2018. The maximum maturity dates were in 2025 for December 31, 2019 and 2024 for December 31, 2018.

(c)	The notional amounts of the cash flow hedges of foreign exchange risk were $1.424 billion and $587 million at December 31, 2019 and December 31, 2018, respectively. The maximum maturity dates were in 2023 for both periods.

(d)	The notional amounts of the interest rate swaps designated as cash flow hedges were $105 million and $180 million at December 31, 2019 and December 31, 2018, respectively. Maximum maturity dates were 2020 at December 31, 2019 and 2020 at December 31, 2018.

(e)	The notional amounts of the net investment hedges were €160 million and maximum maturity dates were 2020 at December 31, 2019 and December 31, 2018.

(f)	The notional amounts of the foreign exchange derivative contracts were $283 million and $470 million and maximum maturity dates were 2020 and 2019 at December 31, 2019 and December 31, 2018, respectively.

The effects of derivative instruments on the Company’s Consolidated Statements of Income and Comprehensive Income for OCI for the years ended December 31, 2019, 2018 and 2017 are as follows:


	Gain (Loss) Recognized in OCI (Effective Portion)						Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (1)
Derivatives designated as hedging instruments:	2019		2018		2017		2019		2018		2017
Cash Flow Hedges
Commodity forward contracts (a)	$	—	$	(6)	$	6	$	(1)	$	1	$	—
Cash flow hedges of foreign exchange risk (b)		28		12				(30)		9
Cash flow hedges of interest rate risk (c)		(1)		(1)
Net Investment Hedges
Net Investment Hedges		10		5				(7)		1
	$	37	$	10	$	6	$	(38)	$	11	$	—

	Amount of Gain (Loss) Recognized in Other income (expense), net
Derivatives not designated as hedges:	2019		2018		2017
Foreign exchange derivative contracts	$	10	$	1	$	10

(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

12 Months Ended

Dec. 31, 2019

Restructuring

Restructuring

9. Restructuring

The Company continually reviews its manufacturing footprint and operating cost structure and may decide to close operations or reduce headcount to gain efficiencies, integrate acquired operations, reduce future expenses and address other market factors. The Company incurs costs associated with these actions including employee severance and benefits, other exit costs such as those related to contract terminations, and asset impairment charges. The Company also may incur other costs related to closed facilities including environmental remediation, clean up, dismantling and preparation for sale or other disposition.

The Company accounts for restructuring and other costs under applicable provisions of generally accepted accounting principles. Charges for employee severance and related benefits are generally accrued based on contractual arrangements with employees or their representatives. Other exit costs are accrued based on the estimated cost to settle related contractual arrangements. Estimated environmental remediation costs are accrued when specific claims have been received or are probable of being received.

The Company’s decisions to curtail selected production capacity have resulted in write downs of certain long-lived assets to the extent their carrying amounts exceeded fair value or fair value less cost to sell. The Company classified the significant assumptions used to determine the fair value of the impaired assets in the period that the measurement was taken as Level 3 (third party appraisal) in the fair value hierarchy as set forth in the general accounting principles for fair value measurements. For the asset impairments recorded through December 31, 2019 and December 31, 2018, the remaining carrying value of the impaired assets was approximately $0 and $9 million, respectively.

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 are

presented separately while minor initiatives are presented on a combined basis. As of December 31, 2019 and 2018, no major restructuring programs were in effect.

In 2019, the Company implemented several discrete restructuring initiatives and recorded restructuring and other charges of $69 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 severance program for certain salaried employees at the Company’s corporate and America’s headquarters and a furnace closure in the Americas. 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. These charges were recorded to Selling and administrative expense ($2 million) and Other expense, net ($67 million) on the Consolidated Results of Operations. The Company expects that the majority of the remaining cash expenditures related to the accrued employee costs will be paid out by the end of 2020.

Also, as part of previous restructuring charges, the Company has reserved for estimated increases in workers compensation claims that arise from plant and furnace closures. Since many of these reserves are long-term in nature, the Company has transferred approximately $14 million of these reserves to a long-term liability account in the fourth quarter of 2019.

In 2018, the Company implemented several discrete restructuring initiatives and recorded restructuring, asset impairment and other charges of $92 million. These charges consisted of employee costs, write-down of assets, and other exit costs primarily related to plant and furnace closures in the Americas region. 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. These restructuring charges primarily relate to capacity curtailments and the Company reallocated the products produced at these facilities to other facilities. These charges were recorded to Cost of goods sold ($5 million) and Other expense, net ($87 million) on the Consolidated Results of Operations.

The following table presents information related to restructuring, asset impairment and other costs related to closed facilities from January 1, 2018 through December 31, 2019:


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at January 1, 2018	$	54	$		$	31	$	85
Charges		20		60		12		92
Write-down of assets to net realizable value				(60)				(60)
Net cash paid, principally severance and related benefits		(24)				(8)		(32)
Transfers to other accounts						(4)		(4)
Other, including foreign exchange translation		(3)				(9)		(12)
Balance at December 31, 2018	$	47	$	—	$	22	$	69
Charges		39		17		13		69
Write-down of assets to net realizable value				(17)				(17)
Net cash paid, principally severance and related benefits		(37)				(17)		(54)
Transfers to other accounts		(14)						(14)
Other, including foreign exchange translation		(3)				(5)		(8)
Balance at December 31, 2019	$	32	$	—	$	13	$	45

Pension Benefit Plans and Other Postretirement Benefits

12 Months Ended

Dec. 31, 2019

Pension Benefit Plans and Other Postretirement Benefits

Pension Benefit Plans and Other Postretirement Benefits

10. Pension Benefit Plans and Other Postretirement Benefits

Pension Benefit Plans

The Company has defined benefit pension plans covering a substantial number of employees located in the United States and several other non-U.S. jurisdictions. Benefits generally are based on compensation for salaried employees and on length of service for hourly employees. The Company’s policy is to fund pension plans such that sufficient assets will be available to meet future benefit requirements. The Company’s defined benefit pension plans use a December 31 measurement date.

The changes in the pension benefit obligations for the year are as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Obligations at beginning of year	$	1,413	$	1,650	$	1,022	$	1,148
Change in benefit obligations:
Service cost		12		14		12		15
Interest cost		58		59		33		32
Actuarial (gain) loss, including the effect of change in discount rates		144		(108)		116		(23)
Settlements		(35)		(114)		(44)		(35)
Acquisitions						30
Participant contributions						1		2
Benefit payments		(87)		(91)		(37)		(51)
Other				3		(6)		(2)
Foreign currency translation						23		(64)
Net change in benefit obligations		92		(237)		128		(126)
Obligations at end of year	$	1,505	$	1,413	$	1,150	$	1,022

The changes in the fair value of the pension plans’ assets for the year are as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Fair value at beginning of year	$	1,094	$	1,394	$	843	$	975
Change in fair value:
Actual gain (loss) on plan assets		235		(96)		110		(15)
Benefit payments		(87)		(91)		(37)		(51)
Employer contributions		8		1		25		33
Participant contributions						1		2
Settlements		(35)		(114)		(44)		(35)
Acquisitions						30
Foreign currency translation						26		(58)
Other						(7)		(8)
Net change in fair value of assets		121		(300)		104		(132)
Fair value at end of year	$	1,215	$	1,094	$	947	$	843

The Company recognizes the funded status of each pension benefit plan on the balance sheet. The funded status of each plan is measured as the difference between the fair value of plan assets and actuarially calculated benefit obligations as of the balance sheet date. Actuarial gains and losses are accumulated in Other

Comprehensive Income and the portion of each plan that exceeds 10% of the greater of that plan’s assets or projected benefit obligation is amortized to income on a straight-line basis over the average remaining service period of employees still accruing benefits or the expected life of participants not accruing benefits if all, or almost all, of the plan’s participants are no longer accruing benefits.

The funded status of the pension plans at year end is as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Plan assets at fair value	$	1,215	$	1,094	$	947	$	843
Projected benefit obligations		1,505		1,413		1,150		1,022
Plan assets less than projected benefit obligations		(290)		(319)		(203)		(179)
Items not yet recognized in pension expense:
Actuarial loss		722		785		327		285
Prior service cost (credit)						5		4
		722		785		332		289
Net amount recognized	$	432	$	466	$	129	$	110

The net amount recognized is included in the Consolidated Balance Sheets at December 31, 2019 and 2018 as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Pension assets	$	—	$	—	$	42	$	44
Current pension liability, included with other accrued liabilities		(1)		(3)		(6)		(5)
Pension benefits		(289)		(316)		(239)		(218)
Accumulated other comprehensive loss		722		785		332		289
Net amount recognized	$	432	$	466	$	129	$	110

The following changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income at December 31, 2019 and 2018 as follows (amounts are pretax):


	U.S.				Non-U.S.
	2019		2018		2019		2018
Current year actuarial (gain) loss	$	(6)	$	86	$	54	$	43
Amortization of actuarial loss		(41)		(51)		(10)		(11)
Settlement		(22)		(61)		(9)		(13)
Other		5		(1)		1		6
		(64)		(27)		36		25
Translation						8		(18)
Change in accumulated other comprehensive income	$	(64)	$	(27)	$	44	$	7

The accumulated benefit obligation for all defined benefit pension plans was $2,622 million and $2,379 million at December 31, 2019 and 2018, respectively.

The components of the net pension expense for the year are as follows:


	U.S.						Non-U.S.
	2019		2018		2017		2019		2018		2017
Service cost	$	12	$	14	$	14	$	12	$	15	$	15
Interest cost		58		59		78		33		32		40
Expected asset return		(86)		(98)		(128)		(48)		(52)		(63)
Amortization:
Actuarial loss		41		51		57		10		11		16
Net expense	$	25	$	26	$	21	$	7	$	6	$	8

Effective January 1, 2016, the Company amended its salary pension plan in North America to freeze future pension benefits. This action required an obligation remeasurement for the curtailment of benefits, which resulted in a reduction of the Company’s pension expense.

In 2019, the Company settled a portion of its pension obligations in the U.S., the United Kingdom and Mexico, resulting in settlement charges of $17 million, $7 million and $2 million, respectively. In 2018, the Company settled a portion of its pension obligations in the U.S. and the United Kingdom, resulting in settlement charges of $61 million and $13 million, respectively. A retiree annuity contract purchase transaction in the U.S. amounting to approximately $94 million in 2018 gave rise to the majority of the settlement charges, with lump-sum payments directly to plan participants comprising the remainder. In 2017, the Company settled a portion of its pension obligations in the U.S., Canada and the United Kingdom, resulting in settlement charges of $176 million, $27 million and $15 million, respectively. Retiree annuity contract purchase transactions in the U.S. and Canada amounting to approximately $369 million and $123 million, respectively, with several insurers, gave rise to the majority of the settlement transactions, with lump-sum payments directly to plan participants comprising the remainder.

The components of pension expense, other than the service cost component, as well as pension settlement charges are included in Other expense, net on the Consolidated Results of Operations.

Amounts that are expected to be amortized from accumulated other comprehensive income into net pension expense during 2020:


	U.S.		Non-U.S.
Actuarial loss	$	56	$	13

The following information is for plans with projected and accumulated benefit obligations in excess of the fair value of plan assets at year end:


	Projected Benefit Obligation Exceeds								Accumulated Benefit Obligation Exceeds
	the Fair Value of Plan Assets								the Fair Value of Plan Assets
	U.S.				Non-U.S.				U.S.				Non-U.S.
	2019		2018		2019		2018		2019		2018		2019		2018
Projected benefit obligations	$	1,505	$	1,413	$	952	$	815	$	1,505	$	1,413	$	952	$	815
Accumulated benefit obligation		1,505		1,412		927		793		1,505		1,412		927		793
Fair value of plan assets		1,215		1,094		706		591		1,215		1,094		706		591

The weighted average assumptions used to determine benefit obligations are as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Discount rate	3.39	%	4.36	%	2.53	%	3.01	%
Rate of compensation increase	N/A		N/A		2.89	%	2.75	%

The weighted average assumptions used to determine net periodic pension costs are as follows:


	U.S.						Non-U.S.
	2019		2018		2017		2019		2018		2017
Discount rate	4.36	%	3.69	%	4.17	%	3.01	%	2.76	%	2.94	%
Rate of compensation increase	N/A		N/A		N/A	%	2.76	%	2.78	%	2.90	%
Expected long-term rate of return on assets	7.25	%	7.25	%	7.50	%	5.50	%	5.52	%	6.32	%

Future benefits are assumed to increase in a manner consistent with past experience of the plans, which, to the extent benefits are based on compensation, includes assumed salary increases as presented above.

For 2019, the Company’s weighted average expected long-term rate of return on assets was 7.25% for the U.S. plans and 5.50% for the non-U.S. plans. In developing this assumption, the Company considered its historical 10-year average return (through December 31, 2019) and evaluated input from its third party pension plan asset consultants, including their review of asset class return expectations.

It is the Company’s policy to invest pension plan assets in a diversified portfolio consisting of an array of asset classes within established target asset allocation ranges. The investment risk of the assets is limited by appropriate diversification both within and between asset classes. Plan assets are primarily invested in a broad mix of domestic and international equities, domestic and international bonds, and real estate, subject to target asset allocation ranges, which may differ by individual plan. The assets are managed with a view to ensuring that sufficient liquidity will be available to meet expected cash flow requirements.

The investment valuation policy of the Company is to value investments at fair value. Equity securities for which market quotations are readily available are valued at the last reported sales price on their principal exchange on valuation date or official close for certain markets. Fixed income investments are valued by an independent pricing service. Investments in registered investment companies or collective pooled funds are valued at their respective net asset values. Short-term investments are stated at amortized cost, which approximates fair value. The fair value of real estate is determined by periodic appraisals.

The assets of the U.S. plans are maintained in a group trust. The U.S. plans hold no individual assets other than the investment in the group trust. The Company’s U.S. pension plan assets held in the group trust are measured at net asset value in the fair value hierarchy. The total U.S. plan assets amounted to $1,215 million and $1,094 million as of December 31, 2019 and 2018, respectively. In 2019, the group trust assets consisted of approximately 65% equity securities, 28% debt securities, and 7% real estate and other.

In 2019, the non-U.S. plan assets consisted of approximately 12% equity securities, 62% debt securities, and 26% real estate and other. The following table sets forth by level, within the fair value hierarchy, the Company’s non-U.S. pension plan assets at fair value as of December 31, 2019 and 2018:


	2019								2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	8	$	—	$	—	$	8	$	9	$	—	$	—	$	9
Equity securities								—								—
Debt securities		55		3				58		34		7				41
Real estate								—								—
Other				23				23				30				30
Total	$	63	$	26	$	—			$	43	$	37	$	—
Investments measured at net asset value							$	858							$	763
Total non-U.S. assets at fair value							$	947							$	843

In order to maintain minimum funding requirements, the Company is required to make contributions to its defined benefit pension plans of approximately $52 million in 2020.

The following estimated future benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated:


Year(s)	U.S.		Non-U.S.
2020	$	97	$	55
2021		96		53
2022		96		57
2023		94		59
2024		94		59
2025-2029		448		313

The Company also sponsors several defined contribution plans for all salaried and hourly U.S. employees, and employees in Canada, the United Kingdom, the Netherlands and Australia. Participants’ contributions are based on their compensation. The Company matches contributions of participants, up to various limits, in substantially all plans. Company contributions to these plans amounted to $33 million in 2019, $36 million in 2018, and $33 million in 2017.

Postretirement Benefits Other Than Pensions

The Company provides retiree health care and life insurance benefits covering certain U.S. salaried and hourly employees, and substantially all employees in Canada. Benefits provided by the Company for hourly retirees are determined by collective bargaining. Employees are generally eligible for benefits upon retirement and completion of a specified number of years of creditable service. The Company uses a December 31 measurement date to measure its postretirement benefit obligations.

The changes in the postretirement benefit obligations for the year are as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Obligations at beginning of year	$	74	$	89	$	80	$	89
Change in benefit obligations:
Service cost						1		1
Interest cost		4		3		3		3
Actuarial (gain) loss, including the effect of changing discount rates		3		(9)		(15)		(4)
Benefit payments		(9)		(9)		(2)		(2)
Foreign currency translation						4		(7)
Other
Net change in benefit obligations		(2)		(15)		(9)		(9)
Obligations at end of year	$	72	$	74	$	71	$	80

The funded status of the postretirement benefit plans at year end is as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Postretirement benefit obligations	$	(72)	$	(74)	$	(71)	$	(80)
Items not yet recognized in net postretirement benefit cost:
Actuarial gain (loss)		1		(8)		(1)		(2)
Prior service credit		8		15
		9		7		(1)		(2)
Net amount recognized	$	(63)	$	(67)	$	(72)	$	(82)

The net amount recognized is included in the Consolidated Balance Sheets at December 31, 2019 and 2018 as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Current nonpension postretirement benefit, included with Other accrued liabilities	$	(5)	$	(6)	$	(3)	$	(3)
Nonpension postretirement benefits		(67)		(68)		(68)		(77)
Accumulated other comprehensive income (loss)		9		7		(1)		(2)
Net amount recognized	$	(63)	$	(67)	$	(72)	$	(82)

The following changes in benefit obligations were recognized in accumulated other comprehensive income at December 31, 2019 and 2018 as follows (amounts are pretax):


	U.S.				Non-U.S.
	2019		2018		2019		2018
Current year actuarial (gain) loss	$	3	$	(8)	$	(15)	$	(4)
Amortization of actuarial loss		(1)		(2)
Amortization of prior service credit		8		7
	$	10	$	(3)	$	(15)	$	(4)

The components of the net postretirement benefit cost for the year are as follows:


	U.S.						Non-U.S.
	2019		2018		2017		2019		2018		2017
Service cost	$	—	$	—	$	—	$	1	$	1	$	1
Interest cost		4		3		4		3		3		3
Amortization:
Actuarial loss		1		2		2
Prior service credit		(8)		(7)		(8)
Net amortization		(7)		(5)		(6)		—		—		—
Net postretirement benefit (income) cost	$	(3)	$	(2)	$	(2)	$	4	$	4	$	4

Amounts that are expected to be amortized from accumulated other comprehensive income into net postretirement benefit cost during 2020:


	U.S.		Non-U.S.
Amortization:
Actuarial loss	$	1	$	(1)
Prior service credit		(8)
Net amortization	$	(7)	$	(1)

Amortization included in net postretirement benefit cost is based on the average remaining service of employees. The weighted average discount rates used to determine the accumulated postretirement benefit obligation and net postretirement benefit cost are as follows:


	U.S.						Non-U.S.
	2019		2018		2017		2019		2018		2017
Accumulated postretirement benefit obligation	3.31	%	4.30	%	3.61	%	3.00	%	3.60	%	3.35	%
Net postretirement benefit cost	4.30	%	3.61	%	4.11	%	3.60	%	3.35	%	3.55	%

The weighted average assumed health care cost trend rates at December 31 are as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Health care cost trend rate assumed for next year	5.80	%	6.00	%	5.00	%	5.00	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00	%	5.00	%	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2025		2025		N/A		N/A

Assumed health care cost trend rates affect the amounts reported for the postretirement benefit plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects:


	U.S.				Non-U.S.
	1-Percentage-Point				1-Percentage-Point
	Increase		Decrease		Increase		Decrease
Effect on total of service and interest cost	$	—	$	—	$	1	$	(1)
Effect on accumulated postretirement benefit obligations		3		(2)		11		(9)

Amortization included in net postretirement benefit cost is based on the average remaining service of employees.

The following estimated future benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated:


Year(s)	U.S.		Non-U.S.
2020	$	6	$	3
2021		6		3
2022		6		3
2023		5		3
2024		5		3
2025 - 2029		21		15

Other U.S. hourly retirees receive health and life insurance benefits from a multi-employer trust established by collective bargaining. Payments to the trust as required by the bargaining agreements are based upon specified amounts per hour worked and were $5 million in 2019, $6 million in 2018 and $6 million in 2017. Postretirement health and life benefits for retirees of foreign subsidiaries are generally provided through the national health care programs of the countries in which the subsidiaries are located.

Leases

12 Months Ended

Dec. 31, 2019

Leases

Leases

11. Leases

In the first quarter of 2019, the Company adopted ASC 842, Leases, and selected the modified retrospective transition as of the effective date of January 1, 2019 (the effective date method). Under the effective date method, financial results reported in periods prior to 2019 are unchanged.

The Company determines if an arrangement is a lease at inception. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Right-of-use assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term.

The Company uses an estimated incremental borrowing rate at the lease commencement date to determine the present value of lease payments when the implicit rate is not readily determinable in the lease. The Company’s incremental borrowing rate reflects a fully secured rate based on recent debt issuances, the credit rating of the Company, changes in currency and repayment timing of the lease, as well as publicly available data for instruments with similar characteristics when calculating incremental borrowing rates.

Certain lease agreements include terms with options to extend the lease, however none of these have been recognized in the Company’s right-of-use assets or lease liabilities since those options were not reasonably certain to be exercised. Leases with a term of 12 months or less are not recorded on the balance sheet and lease expense for these leases is recognized on a straight-line basis over the lease term. The Company’s lease agreements include lease payments that are largely fixed and do not contain material residual value guarantees or variable lease payments and no lease transactions with related parties. For the year ended December 31, 2019, the Company’s lease costs associated with leases with terms less than 12 months or variable lease costs were immaterial. Certain leases include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company’s leases do not contain restrictions or covenants that restrict the Company from incurring other financial obligations.

Rent expense attributable to all warehouse, office buildings and equipment operating leases was $91 million in 2018 and $91 million in 2017. Minimum future rentals under operating leases as of December 31, 2018 were as follows: 2019, $69 million; 2020, $53 million; 2021, $41 million; 2022, $36 million; 2023, $29 million; and 2024 and thereafter, $40 million.

The Company leases warehouses, office buildings and equipment under both operating and finance lease arrangements. Information related to these leases is as follows:


		Year ended
		December 31,
		2019
Lease cost
Finance lease cost:
Amortization of right-of-use assets (included in Cost of goods sold and Selling and administrative expense)	$	6
Interest on lease liabilities (included in Interest expense, net)		2
Operating lease cost (included in Cost of goods sold and Selling and administrative expense)		83
Total lease cost	$	91


		Year ended
		December 31,
		2019
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	83
Operating cash flows from finance leases		2
Financing cash flows from finance leases		6
Right-of-use assets obtained in exchange for new operating lease liabilities		61



	December 31, 2019
Supplemental balance sheet information
Operating leases:
Operating lease right-of-use assets (included in Other assets)	$	203

Current operating lease liabilities (included in Other current liabilities)		65
Noncurrent operating lease liabilities (included in Other long-term liabilities)		138
Total operating lease liabilities	$	203

Finance leases:
Property, plant and equipment	$	107
Accumulated amortization		(33)
Property, plant and equipment, net		74

Current finance lease liabilities (included in Long-term debt due within one year)		7
Noncurrent finance lease liabilities (included in Long-term debt)		63

Total finance lease liabilities	$	70

Weighted-average remaining lease term (in years):
Operating leases		3.3
Finance leases		7.4
Weighted-average discount rate:
Operating leases		7.78	%
Finance leases		3.57	%


Maturity of lease liabilities		Operating leases		Finance leases
2020	$	71	$	9
2021		47		13
2022		35		11
2023		22		11
2024		15		8
2025 and thereafter		41		30
Total lease payments		231		82
Less: imputed interest		(28)		(12)
Total lease obligations	$	203	$	70

Minimum payments related to leases not yet commenced as of December 31, 2019	$	76	$	—

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Taxes

Income Taxes

12. Income Taxes

The provision for income taxes was calculated based on the following components of earnings (loss) before income taxes:


Continuing operations	2019		2018		2017
U.S.	$	(535)	$	(100)	$	(43)
Non-U.S.		274		377		318
	$	(261)	$	277	$	275


Discontinued operations	2019		2018		2017
U.S.	$	—	$	—	$	—
Non-U.S.		(3)		113		(3)
	$	(3)	$	113	$	(3)

The provision (benefit) for income taxes consists of the following:


	2019		2018		2017
Current:
U.S.	$	12	$	8	$	(5)
Non-U.S.		99		109		87
		111		117		82
Deferred:
U.S.		—		—		6
Non-U.S.		7		(9)		(18)
		7		(9)		(12)
Total:
U.S.		12		8		1
Non-U.S.		106		100		69
Total for continuing operations		118		108		70
Total for discontinued operations		—		—		—
	$	118	$	108	$	70

A reconciliation of the provision for income taxes based on the statutory U.S. Federal tax rate of 21% for 2019 and 2018 and 35% for 2017 to the provision for income taxes is as follows:


	2019		2018		2017
Tax provision on pretax earnings from continuing operations at statutory U.S. Federal tax rate	$	(55)	$	58	$	96
Increase (decrease) in provision for income taxes due to:
Non-U.S. tax rates		14		25		(29)
Global intangible low taxed income and Foreign-derived intangible income		38		32
U.S. Tax Cuts and Jobs Act: transition tax, net of foreign tax credits				(2)		2
Goodwill impairment		125
Tax law changes				4		152
Change in valuation allowance: U.S. tax law change				(2)		(162)
Change in valuation allowance: other		(31)		(18)		(283)
Tax attribute expiration		11		6		330
Withholding tax		16		10		8
Non-deductible expenses		8		4		9
Tax credits and incentives		(28)		(23)		(37)
Changes in tax reserves and audit settlements		20		13		(18)
Mexico inflationary adjustments		4		8		13
Equity earnings		(14)		(13)		(13)
Other taxes based on income		3		7		10
Other items		7		(1)		(8)
Provision for income taxes	$	118	$	108	$	70

Deferred income taxes reflect: (1) the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and their relevant tax basis; and (2) carryovers and credits for income tax purposes.

Significant components of the Company’s deferred tax assets and liabilities at December 31, 2019 and 2018 are as follows:


	2019		2018
Deferred tax assets:
Accrued postretirement benefits	$	34	$	38
Asbestos-related liabilities		102		127
Foreign tax credit carryovers		117		96
Operating, capital loss and interest carryovers		272		300
Other credit carryovers		18		18
Accrued liabilities		67		65
Pension liabilities		91		92
Operating lease liabilities		50
Other		27		43
Total deferred tax assets		778		779
Deferred tax liabilities:
Property, plant and equipment		112		97
Intangibles and deferred software		86		92
Operating lease right-of-use assets		50
Total deferred tax liabilities		248		189
Valuation allowance		(462)		(495)
Net deferred taxes	$	68	$	95

Deferred taxes are included in the Consolidated Balance Sheets at December 31, 2019 and 2018 as follows:


	2019		2018
Other assets	$	178	$	191
Deferred taxes		(110)		(96)
Net deferred taxes	$	68	$	95

The deferred tax benefit associated with the reduction in the valuation allowance of $33 million was primarily allocated $19 million to income from continuing operations due to the primacy of continuing operations, changes in tax law and expiration of certain tax attribute carryovers, and $14 million to other comprehensive income.

Deferred tax assets and liabilities are determined separately for each tax jurisdiction on a separate or on a consolidated tax filing basis, as applicable, in which the Company conducts its operations or otherwise incurs taxable income or losses. A valuation allowance is recorded when it is more likely than not that some portion or all of the gross deferred tax assets will not be realized. The realization of deferred tax assets depends on the ability to generate sufficient taxable income of the appropriate character within the carryback or carryforward periods provided for in the tax law for each applicable tax jurisdiction. The Company considers the following possible sources of taxable income when assessing the realization of deferred tax assets:

●taxable income in prior carryback years;

●future reversals of existing taxable temporary differences;

●future taxable income exclusive of reversing temporary differences and carryforwards; and

●prudent and feasible tax planning strategies that the Company would be willing to undertake to prevent a deferred tax asset from otherwise expiring.

The assessment regarding whether a valuation allowance is required or whether a change in judgment regarding the valuation allowance has occurred also considers all available positive and negative evidence, including but not limited to:

●nature, frequency, and severity of cumulative losses in recent years;

●duration of statutory carryforward and carryback periods;

●statutory limitations against utilization of tax attribute carryforwards against taxable income;

●historical experience with tax attributes expiring unused; and

●near- and medium-term financial outlook.

The weight given to the positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. Accordingly, it is generally difficult to conclude a valuation allowance is not required when there is significant objective and verifiable negative evidence, such as cumulative losses in recent years. The Company uses the actual results for the last two years and current year results as the primary measure of cumulative losses in recent years.

The evaluation of deferred tax assets requires judgment in assessing the likely future tax consequences of events recognized in the financial statements or tax returns and future profitability. The recognition of deferred tax assets represents the Company’s best estimate of those future events. Changes in the current estimates, due to unanticipated events or otherwise, could have a material effect on the Company’s results of operations and financial condition.

In certain tax jurisdictions, the Company’s analysis indicates that it has cumulative losses in recent years. This is considered significant negative evidence which is objective and verifiable and, therefore, difficult to overcome. However, the cumulative loss position is not solely determinative and, accordingly, the Company considers all other available positive and negative evidence in its analysis. Based on its analysis, the Company has recorded a valuation allowance for the portion of deferred tax assets where based on the weight of available evidence it is unlikely to realize those deferred tax assets.

Based on the evidence available including a lack of sustainable earnings, the Company in its judgment previously recorded a valuation allowance against substantially all of its net deferred tax assets in the United States. If a change in judgment regarding this valuation allowance were to occur in the future, the Company will record a potentially material deferred tax benefit, which could result in a favorable impact on the effective tax rate in that period. In addition, based on available evidence and the weighting of factors discussed above, the Company has valuation allowances on certain deferred tax assets in certain international tax jurisdictions.

The U.S. Tax Cuts and Jobs Act (“Act”) was enacted on December 22, 2017. The Act reduced the U.S. federal corporate tax rate to 21% from 35%, required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and created new taxes on certain foreign sourced earnings. In 2017 and the first nine months of 2018, the Company recorded provisional amounts for certain enactment-date effects of the Act by applying the guidance in SAB 118 because the Company had not yet

completed its enactment-date accounting for these effects. At December 31, 2018, the Company had completed its accounting for all of the enactment-date income tax effects of the Act. At December 31, 2017, the Company originally recorded a provisional amount for its one-time transition tax of $331 million, which was expected to be substantially offset by available foreign tax credits resulting in a provisional net tax expense of $2 million, primarily attributable to state taxes. Upon further analyses of certain aspects of the Act and refinement of its calculations during 2018, the Company decreased its provisional amount of transition tax by $17 million, to $314 million. This resulted in no change to U.S. federal income tax expense due to the impact of foreign tax credits. In addition, the provisional net tax expense, which was estimated at approximately $2 million, primarily attributable to state taxes, was substantially eliminated. The Company recognized this favorable adjustment of $2 million as a component of income tax expense from continuing operations.

As of December 31, 2017, the Company remeasured certain deferred tax assets and liabilities based on the rates at which they were expected to reverse in the future (which was generally 21%) and based on the expected future benefit to be realized as a result of changes to the tax base provided in the Act. The Company recorded a provisional net tax charge of $162 million related to the remeasurement of net deferred tax assets, which was fully offset by an adjustment to valuation allowance. Upon further analysis of certain aspects of the Act and refinement of its calculations during 2018, the Company adjusted its provisional amount by $2 million, which is fully offset by an adjustment to valuation allowance. Additionally, as of December 31, 2017, the Company recorded a provisional deferred tax benefit of $11 million for the reduction of a deferred tax liability related to an indefinite lived intangible asset. No adjustment was made to this provisional amount.

At December 31, 2019, before valuation allowance, the Company had unused foreign tax credits of $117 million including $81 million expiring in 2020 through 2029 and $36 million that can be carried over indefinitely. Approximately $166 million of the deferred tax assets related to operating, capital loss and interest carryforwards can be carried over indefinitely. The remaining operating, capital loss and interest carryforwards of $106 million expire between 2020 and 2039. Other credit carryforwards include approximately $17 million of research tax credits expiring from 2020 to 2038.

As a result of the Act, in 2018, the Company had a change in judgement regarding the gross book-tax basis differences in its non-U.S. consolidated subsidiaries. Since a majority of the pre-2018 non-U.S. earnings (net of losses) were substantially taxed under the Act, distributions of those net earnings no longer attract significant U.S. income taxes except for any associated currency gains. Therefore, the Company does not assert that these net earnings (to the extent of foreign distributable reserves) and any associated gross book-tax basis differences, if any, are indefinitely reinvested. For all remaining gross book-tax basis differences in its non-U.S. consolidated subsidiaries, the Company maintains its assertion that it intends these to be indefinitely reinvested. The Company also records deferred foreign taxes on gross book-tax basis differences to the extent of foreign distributable reserves for certain foreign subsidiaries. Determining the amount of unrecognized deferred tax liability related to any remaining undistributed foreign earnings is not practicable.

The Company records a liability for unrecognized tax benefits related to uncertain tax positions. The Company accrues interest and penalties associated with unrecognized tax benefits as a component of its income tax expense.

The following is a reconciliation of the Company’s total gross unrecognized tax benefits for the years ended December 31, 2019, 2018, and 2017:


	2019		2018		2017
Balance at January 1	$	87	$	79	$	74
Additions and reductions for tax positions of prior years		16		(4)		1
Additions based on tax positions related to the current year		12		15		17
Reductions due to the lapse of the applicable statute of limitations						(7)
Reductions due to settlements		(16)				(9)
Foreign currency translation				(3)		3
Balance at December 31	$	99	$	87	$	79
Unrecognized tax benefits, which if recognized, would impact the Company’s effective income tax rate	$	86	$	78	$	72
Accrued interest and penalties at December 31	$	11	$	10	$	8
Interest and penalties included in tax expense for the years ended December 31	$	1	$	2	$	(15)

Based upon the outcome of tax examinations, judicial proceedings, or expiration of statute of limitations, it is reasonably possible that the ultimate resolution of these unrecognized tax benefits may result in a payment that is materially different from the current estimate of the tax liabilities. The Company believes that it is reasonably possible that the estimated liability could decrease up to approximately $6 million within the next 12 months. This is primarily the result of anticipated audit settlements or statute expirations in several taxing jurisdictions.

The Company is currently under income tax examination in various tax jurisdictions in which it operates, including Bolivia, Brazil, Canada, Colombia, France, Germany, 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. During 2019, additional assessments were received for these issues and the Company’s position remains unchanged.

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. During 2019, the Company concluded income tax audits in several jurisdictions, including Canada, Germany, and Italy.

Debt

12 Months Ended

Dec. 31, 2019

Debt

Debt

13. Debt

The following table summarizes the long-term debt of the Company at December 31, 2019 and 2018:



	2019		2018
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	—	$	—
Term Loans:
Term Loan A		1,477
Previous Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans
Term Loans:
Term Loan A				897
Other secured debt		333		404
Senior Notes:
6.75%, due 2020 (€500 million)				570
4.875%, due 2021 (€118 million at December 31, 2019 and €330 million at December 31, 2018)		132		376
5.00%, due 2022		497		497
4.00%, due 2023		307		306
5.875%, due 2023		689		688
3.125%, due 2024 (€725 million)		824		825
6.375%, due 2025		295		295
5.375%, due 2025		297		297
2.875%, due 2025 (€500 million)		552
Finance leases		70		45
Other		11		14
Total long-term debt		5,484		5,214
Less amounts due within one year		49		33
Long-term debt	$	5,435	$	5,181

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 new 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 Company recorded $4 million of additional interest charges for third party fees and the write-off of unamortized fees during 2019.

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 December 31, 2019, 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 December 31, 2019, the Company had unused credit of $1.5 billion available under the Agreement. The weighted average interest rate on borrowings outstanding under the Agreement at December 31, 2019 was 3.41%.

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 indenture governing the Company’s outstanding debt securities and could lead to an acceleration of obligations related to these debt securities. As of December 31, 2019, 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. Following the redemption, €250 million aggregate principal amount of the senior notes remained outstanding. The redemption was funded with cash on hand and revolver borrowings.

In November 2019, the Company issued €500 million aggregate principal amount of new senior notes. The new senior notes bear interest at a rate of 2.875% per annum and mature on February 15, 2025. 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 €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 approximately €212 million aggregate principal amount of the Company’s outstanding 4.875% senior notes due 2021.

The Company recorded approximately $56 million of additional interest charges for note repurchase premiums and the write-off of unamortized finance fees related to the senior notes redemptions conducted during 2019.

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. The Company recorded approximately $5 million of additional interest charges for third party fees in 2019 related to these activities.

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 8 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.

Annual maturities for all of the Company’s long-term debt through 2024 and thereafter are as follows: 2020, $49 million; 2021, $537 million; 2022, $583 million; 2023, $1,080 million; 2024, $2,063 million; 2025 and thereafter $1,172 million.

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 December 31, 2019, of the Company’s significant fixed rate debt obligations are as follows:



	Principal Amount		Indicated Market Price		Fair Value
Senior Notes:
4.875%, due 2021 (€118 million)	$	132	$	106.10	$	140
5.00%, due 2022		500		103.86		519
5.875%, due 2023		700		107.11		750
4.00%, due 2023		310		101.45		314
3.125%, due 2024 (€725 million)		812		106.72		867
6.375%, due 2025		300		109.67		329
5.375%, due 2025		300		104.09		312
2.875%, due 2025 (€500 million)		560		103.85		582

Contingencies

12 Months Ended

Dec. 31, 2019

Contingencies

Contingencies

14. 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 has 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 have been 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 have been presented to the Company under administrative claims-handling agreements, which the Company has in place with many plaintiffs’ counsel throughout the country (“Administrative Claims”). Administrative Claims require evaluation and negotiation regarding whether particular claimants qualify under the criteria established by the related claims-handling agreements. The criteria for Administrative Claims include 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 have presented, and the Company has negotiated, Administrative Claims under these various agreements in differing quantities, at different times, and under a variety of conditions.

The following table shows the approximate number of plaintiffs who had asbestos lawsuits pending against the Company at the beginning of each listed year, the number of Asbestos Claims administratively presented or filed in the tort system, the number of Asbestos Claims disposed of during that year, and the number of lawsuits pending at the end of each listed year (eliminating duplicate filings):


	2019	2018	2017
Pending at beginning of year	1,070	1,330	1,400
Disposed	1,170	1,220	1,320
Filed	950	960	1,250
Pending at end of year	850	1,070	1,330

The pending lawsuit figures do not include an estimate of potential Administrative Claims that may be presented under a claims-handling agreement due to the uncertainties around presentation timing, quantities, or qualification rates. The Company considers Administrative Claims to be “Filed” and “Disposed” 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 cause considerable variation in the specific amounts of monetary damages asserted. In the Company’s experience, the monetary relief alleged in a lawsuit bears 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 is made; the applicable law; and the law firm representing the claimant, affect the value.

The Company has also been 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 believes that these categories of Asbestos Claims will not involve any material liability. Therefore, they are not included in the description of pending or disposed matters.

Since receiving its first Asbestos Claim, as of December 31, 2019, the Company in the aggregate has disposed of approximately 401,200 Asbestos Claims at an average indemnity payment of approximately $10,200 per claim. During the three months ended December 31, 2019, the Company disposed of approximately 150 Asbestos Claims. The Company’s asbestos indemnity payments have varied on a per-claim basis and are expected to continue to vary considerably over time. Asbestos-related cash payments for 2019, 2018, and 2017 were $151 million, $105 million, and $110 million, respectively. The Company’s cash payments per claim disposed (inclusive of legal costs) were approximately $129,000, $86,000 and $83,000 for the years ended December 31, 2019, 2018, and 2017, respectively.

Historically, the Company’s objective has been 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 has 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 have affected lawsuit volume, claim volume, qualification rates, claim values, and related matters. Collectively, these variables generally have 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 has accrued a total of approximately $5.0 billion through 2019, before insurance recoveries, for its asbestos-related liability. The Company’s estimates of its liability have been significantly affected by, among other factors, the volatility of asbestos-related litigation in the United States, the significant number of co-defendants that have 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 that are now sued in this litigation, and the continuing changes in the extent to which these defendants participate in the resolution of cases in which the Company has also been a defendant.

The Company has continued to monitor trends that may affect its ultimate liability and analyze the developments and variables likely to affect the resolution of Asbestos Claims. The material components of the Company’s total accrued liability are determined by the Company in connection with its annual comprehensive legal review and consist of the following estimates, to the extent it is probable that such liabilities have been incurred and can 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 believes will be asserted.

The Company has 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 has 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 has 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 has 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 have historically been:

settlements will 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;

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

the incidence of serious asbestos-related disease cases and claiming patterns against the Company for such cases do 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;

the Company is substantially able to defend itself successfully at trial and on appeal;

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

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

For the years ended December 31, 2019 and 2018, the Company concluded that accruals in the amounts of $486 million and $602 million, respectively, were required. These amounts have not been discounted for the time value of money. The Company’s comprehensive legal reviews resulted in charges of $35 million, $125 million and $0 million for the years ended December 31, 2019, 2018 and 2017, respectively. 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 plaintiffs leveraging a changing litigation environment, and an immaterial decrease in the estimated number of claims likely to be asserted against the Company in the future. In the fourth quarter of 2018, the Company determined that it was advantageous to accelerate the disposition of certain claims in light of additional information the Company obtained about higher estimated future claim volumes and values in certain of the affected discrete streams of potential liability. Factors impacting the increased likelihood of these additional losses included changes in the law, procedure, the expansion of judicial resources in certain jurisdictions, and renewed attention to dockets of non-mesothelioma cases. The Company also obtained new information about other Asbestos Claims, which had the effect of reducing its asbestos-related liability. The combined effect of these items resulted in a change in estimate of the Company’s asbestos-related liability.

The Company’s asbestos-related liability is based on a projection of new Asbestos Claims that will eventually be filed against the Company and the estimated average disposition cost of these claims and related legal costs. Changes in these projections, and estimates, as well as changes in the significant assumptions noted above, have the potential to significantly impact the estimation of the Company’s asbestos-related liability.

Following the Merger (undertaken as part of Corporate Modernization), the Company’s legacy asbestos-related liabilities and certain other liabilities remained within Paddock. On January 6, 2020, 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. 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 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.

For a discussion of the effects of the Corporate Modernization and Paddock’s Chapter 11 proceedings on the Company’s financial statements, see Item 1A, “Risk Factors – “Corporate Modernization,” and “Subsidiary Bankruptcy” and “Asbestos-Related Liability,” and Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations and Note 22.

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.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2019

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

15. Accumulated Other Comprehensive Income (Loss)

The components of comprehensive income are: (a) net earnings; (b) change in fair value of certain derivative instruments; (c) pension and other postretirement benefit adjustments; and (d) foreign currency translation adjustments. The net effect of exchange rate fluctuations generally reflects changes in the relative strength of the U.S. dollar against major foreign currencies between the beginning and end of the year.

The following table lists the beginning balance, annual activity and ending balance of each component of accumulated other comprehensive income (loss):


									Total Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Income (Loss)
Balance on January 1, 2018	$	(723)	$	(12)		$	(1,091)		$	(1,826)
Change before reclassifications		(166)		(4)			(114)			(284)
Amounts reclassified from accumulated other comprehensive income				(1)	(a)		131	(b)		130
Translation effect				(1)			16			15
Tax effect							(3)			(3)
Other comprehensive income (loss) attributable to the Company		(166)		(6)			30			(142)
Balance on December 31, 2018		(889)		(18)			(1,061)			(1,968)
Change before reclassifications		76		(74)			(21)			(19)
Amounts reclassified from accumulated other comprehensive income				75	(a)		70	(b)		145
Translation effect				1			(7)			(6)
Tax effect				2			3			5
Other comprehensive income (loss) attributable to the Company		76		4			45			125
Balance on December 31, 2019	$	(813)	$	(14)		$	(1,016)		$	(1,843)

(a)	Amount is included in Cost of goods sold on the Consolidated Results of Operations (see Note 8 for additional information).

(b)	Amount is included in the computation of net periodic pension cost and net postretirement benefit cost (see Note 10 for additional information).

Stock Based Compensation

12 Months Ended

Dec. 31, 2019

Stock Based Compensation

Stock Based Compensation

16. Stock Based Compensation

The Company has various nonqualified plans approved by share owners under which it has granted stock options, restricted shares and performance vested restricted share units. Starting with the 2017 equity awards, the Company has allocated these awards solely in the form of restricted shares and performance vested restricted share units. As such, the Company’s annual compensation expense related to stock option awards is immaterial. At December 31, 2019, there were 10,439,355 shares available for grants under these plans. Total compensation cost for all grants of shares and units under these plans was $10 million, $27 million and $18 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Restricted Shares and Restricted Share Units

Restricted share units granted to employees vest 25% per year beginning on the first anniversary. Granted but unvested restricted share units are forfeited upon termination, unless certain retirement criteria are met. Holders of vested restricted share units receive one share of the Company’s common stock for each unit as units vest. Restricted share units granted to directors vest after one year.

The fair value of the restricted shares and restricted share units is equal to the market price of the Company’s common stock on the date of the grant. The fair value of restricted shares and restricted share units, is amortized over the vesting periods which range from one to four years.

The activity of restricted shares and restricted share units is as follows:


		Weighted
	Number of	Average
	Restricted	Grant-Date
	Shares	Fair Value
	(thousands)	(per share)
Nonvested at January 1, 2019	1,053	$	20.29
Granted	580		18.85
Vested	(408)		19.92
Forfeited	(111)		20.20
Nonvested at December 31, 2019	1,114		19.69
Awards granted during 2018		$	22.05
Awards granted during 2017		$	20.01


	2019		2018		2017
Total fair value of shares vested	$	8	$	10	$	5

Performance Vested Restricted Share Units

Performance vested restricted share units vest on January 1 of the third year following the year in which they are granted. Holders of vested units may receive up to two shares of the Company’s common stock for each unit, depending upon the attainment of consolidated performance goals established by the Compensation Committee of the Company’s Board of Directors. If minimum goals are not met, no shares will be issued. Granted but unvested restricted share units are forfeited upon termination of employment, unless certain retirement criteria are met.

The fair value of each performance vested restricted share unit is equal to the product of the fair value of the Company’s common stock on the date of grant and the estimated number of shares into which the performance vested restricted share unit will be converted. The fair value of performance vested restricted share units is amortized ratably over the vesting period. Should the estimated number of shares into which the performance vested restricted share unit will be converted change, an adjustment will be recorded to recognize the accumulated difference in amortization between the revised and previous estimates.

Performance vested restricted share unit activity is as follows:


	Number of Performance	Weighted Average
	Vested Restricted Shares	Grant-Date Fair Value
	Units (thousands)	(per unit)
Nonvested at January 1, 2019	1,632	$	18.48
Granted	1,389		17.64
Vested	(1,336)		15.11
Forfeited/Cancelled	(126)		20.84
Nonvested at December 31, 2019	1,559		20.20
Awards granted during 2018		$	19.73
Awards granted during 2017		$	19.57

Approximately 1,336,000 shares were issued in 2019 with a fair value at issuance date of $20 million related to performance vested restricted share units.

As of December 31, 2019, there was $10 million of total unrecognized compensation cost related to all unvested stock options, restricted shares, restricted share units and performance vested restricted share units. That cost is expected to be recognized over a weighted average period of approximately two years.

Other Expense, net

12 Months Ended

Dec. 31, 2019

Other Expense, net

Other Expense, net

17. Other Expense, net

Other expense, net for the years ended December 31, 2019, 2018, and 2017 included the following:


	2019		2018		2017
Impairment of goodwill (see Note 6)	$	595	$	—	$	—
Restructuring, asset impairment and other charges		89		97		77
Charge for asbestos-related costs		35		125
Pension settlement charges		26		74		218
Charge for other asset impairments		22
Intangible amortization expense		41		40		41
Strategic transaction and corporate modernization costs		31
Gain on sale of equity investment		(107)
Royalty income		(12)		(13)		(11)
Foreign currency exchange loss		5		6		5
Non-income tax gain				(19)
Other expense (income, including gains on asset sales), net		4		(41)		(7)
	$	729	$	269	$	323

In 2019, the Company recorded charges of approximately $22 million for asset impairments related to the Company’s operations in Argentina and China, due primarily to macroeconomic conditions in those countries. The Company wrote down the value of these assets to the extent their carrying amounts exceeded fair value. The fair value of the assets was computed based on estimated future cash flows. The Company classified the significant assumptions used to determine the fair value of the impaired assets, which was not material, as Level 3 (third party appraisal) in the fair value hierarchy. The remaining carrying value of the impaired assets was approximately $5 million.

In 2018, other income, net includes a gain realized on a sale of an asset in Europe (approximately $11 million) and gains recorded on insurance proceeds in the Americas (approximately $11 million).

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share

Earnings Per Share

18. Earnings Per Share

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


	2019		2018		2017
Numerator:
Net earnings (loss) attributable to the Company	$	(400)	$	257	$	180
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding		155,250		160,125		162,737
Effect of dilutive securities:
Stock options and other				1,963		1,910
Denominator for diluted earnings per share-adjusted weighted average shares outstanding		155,250		162,088		164,647
Basic earnings per share:
Earnings (loss) from continuing operations	$	(2.56)	$	0.90	$	1.12
Gain (loss) from discontinued operations		(0.02)		0.71		(0.01)
Net earnings (loss)	$	(2.58)	$	1.61	$	1.11
Diluted earnings per share:
Earnings (loss) from continuing operations	$	(2.56)	$	0.89	$	1.11
Gain (loss) from discontinued operations		(0.02)		0.70		(0.01)
Net earnings (loss)	$	(2.58)	$	1.59	$	1.10

Options to purchase 2,086,004, 1,726,275 and 1,522,928 weighted average shares of common stock which were outstanding during 2019, 2018, and 2017, respectively, were not included in the computation of diluted earnings per share because the options’ exercise price was greater than the average market price of the common shares. For the year ended December 31, 2019, diluted earnings per share of common stock was equal to basic earnings per share of common stock due to the loss from continuing operations.

On December 26 and 27, 2019, the Company implemented the Corporate Modernization, which involved a series of transactions, including the Merger. Upon the effectiveness of the Merger, each share of O-I stock held immediately prior to the Merger automatically converted into a right to receive an equivalent corresponding share of O-I Glass Common Stock, having the same designations, rights, powers and preferences and the qualifications, limitations, and restrictions as the corresponding share of O-I stock being converted.

In connection with the Merger and pursuant to the Merger Agreement, each option to purchase a share of O-I Common Stock, each Company Equity Awards was converted into an O-I Glass Equity Award. Each O-I Glass Equity Award continues to be subject to the same terms and conditions (including vesting schedule and performance, forfeiture and termination conditions) that applied to the corresponding Company Equity Award immediately prior to the effective time of the Merger.

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Information

Supplemental Cash Flow Information

19. Supplemental Cash Flow Information

Changes in the components of working capital related to operations (net of the effects related to acquisitions and divestitures) were as follows:


	2019		2018		2017
Decrease (increase) in current assets:
Receivables - change in factoring	$	(61)	$	146	$	136
Receivables - all other changes		13		(103)		(173)
Inventories		(26)		(29)		2
Prepaid expenses and other		13		(58)		(10)
Increase (decrease) in current liabilities:
Accounts payable		(62)		67		69
Accrued liabilities		(30)		(16)		(49)
Salaries and wages		(25)		(1)		(21)
U.S. and foreign income taxes		2		9		(43)
	$	(176)	$	15	$	(89)

The Company uses various factoring programs to sell certain receivables to financial institutions as part of managing its cash flows. At December 31, 2019, December 31, 2018 and December 31, 2017, the amount of receivables sold by the Company was $539 million, $600 million and $454 million, respectively.

Income taxes paid in cash were as follows:


	2019		2018		2017
U.S.	$	2	$	11	$	4
Non-U.S.		101		97		127
Total income taxes paid in cash	$	103	$	108	$	131

Interest paid in cash, including note repurchase premiums, for the years ended December 31, 2019, 2018 and 2017 was $303 million, $236 million and $261 million, respectively. Cash interest for the years ended December 31, 2019, 2018 and 2017 included $54 million, $0 million and $18 million of note repurchase premiums, respectively.

Discontinued Operations

12 Months Ended

Dec. 31, 2019

Discontinued Operations

Discontinued Operations

20. Discontinued Operations

On December 6, 2018, an ad hoc committee for the World Bank’s International Centre for Settlement of Investment Disputes (“ICSID”) rejected the request by the Bolivarian Republic of Venezuela (“Venezuela”) to annul the award issued by an ICSID tribunal in favor of OI European Group B.V. (“OIEG”) related to the 2010 expropriation of OIEG’s majority interest in two plants in Venezuela (the “Award”). The annulment proceeding with respect to the Award is now concluded.

On July 31, 2017, OIEG sold its right, title and interest in amounts due under the Award to an Ireland-domiciled investment fund. Under the terms of the sale, OIEG received a payment, in cash, at closing equal to $115 million (the “Cash Payment”). OIEG may also receive additional payments in the future (“Deferred Amounts”) calculated based on the total compensation that is received from Venezuela as a result of collection efforts or as settlement of the Award with Venezuela. OIEG’s right to receive any Deferred Amounts is subject to the limitations described below.

OIEG’s interest in any amounts received in the future from Venezuela in respect of the Award is limited to a percentage of such recovery after taking into account reimbursement of the Cash Payment to the purchaser and reimbursement of legal fees and expenses incurred by the Company and the purchaser. OIEG’s percentage of such recovery will also be reduced over time. Because the Award has yet to be satisfied and the ability to successfully enforce the Award in countries that are party to the ICSID Convention is subject to significant challenges, the Company is unable to reasonably predict the amount of recoveries from the Award, if any, to which the Company may be entitled in the future. Any future amounts that the Company may receive from the Award are highly speculative and the timing of any such future payments, if any, is highly uncertain. As such, there can be no assurance that the Company will receive any future payments under the Award beyond the Cash Payment.

A separate arbitration involving two other subsidiaries of the Company -- Fabrica de Vidrios Los Andes, C.A.(“Favianca”), and Owens-Illinois de Venezuela, C.A. (“OIDV”) -- was initiated in 2012 to obtain compensation primarily for third-party minority shareholders’ lost interests in the two expropriated plants. However, on November 13, 2017, ICSID issued an award that dismissed this arbitration on jurisdiction grounds. In March 2018, OIDV and Favianca submitted to ICSID an application to annul the November 13, 2017 award; on November 22, 2019, OIDV and Favianca’s request to annul the award was rejected by an ICSID ad hoc committee. The two subsidiaries are evaluating potential next steps.

As a result of the favorable ruling by an ICSID ad hoc committee rejecting Venezuela’s request to annul the OIEG Award, and thereby concluding those annulment proceedings, the Company recognized a $115 million gain from discontinued operations in 2018. The loss from discontinued operations of $3 million and $3 million for the years ended December 31, 2019 and 2017, respectively, and the gain from discontinued operations of $113 million for the year ended December 31, 2018, reflects the gain in 2018 and the ongoing costs for the Venezuelan expropriation in all three years.

Business Combinations

12 Months Ended

Dec. 31, 2019

Business Combinations

Business Combinations

21. 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 $190 million, subject to a working capital adjustment. 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 will be accounted for using the acquisition method of accounting.

The total purchase price will be allocated to the tangible and identifiable intangible assets and liabilities based upon their respective fair values. The purchase agreement contains customary provisions for working capital adjustments, which the Company expects to resolve with the seller by the end of the second quarter of 2020. The aggregate purchase price was preliminarily allocated to the Company’s balance sheet as of December 31, 2019, and has not yet been finalized because the Company has not yet completed the valuation of the acquired property, plant and equipment and the related depreciation periods. The Company expects that the purchase price allocation process will be completed no later than the second quarter of 2020. The following table summarizes the preliminary estimates of fair value of the assets acquired and liabilities assumed on June 28, 2019 and

subsequent adjustments identified through the ongoing purchase price allocation process and recorded through the measurement period:


		June 28, 2019		Measurement Period Adjustments		December 31, 2019
Accounts receivable	$	42	$		$	42
Inventory		17				17
Goodwill		0		21		21
Intangibles		35		(32)		3
Net property, plant and equipment		129		32		161
Total assets acquired		223		21		244
Accounts payable		25		1		26
Accrued liabilities		3				3
Deferred tax liabilities		0		25		25
Net assets acquired	$	195	$	(5)	$	190

The fair value of the tangible assets was estimated utilizing income and market approaches, considering remaining useful life. The value assigned to the customer list intangibles was based on the present value of future earnings attributable to the asset group after recognition of required returns to the other contributory assets. Recognized goodwill is attributable to the assembled workforce, expected synergies and other intangible assets that do not qualify for separate recognition. The goodwill related to this acquisition is not deductible for tax purposes.

The provisional balance sheet adjustments identified above did not result in any significant adjustments to the previous period’s income statement. This acquisition did not meet the thresholds for a significant acquisition and therefore no pro forma financial information is presented.

Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events

Subsequent Events

22. Subsequent Events

On December 26 and 27, 2019, the Company implemented the Corporate Modernization, whereby O-I Glass became the new parent entity with O-I Group and Paddock as direct, wholly owned subsidiaries. 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, 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. 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 beginning 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 objective of the support agreement is to ensure that Paddock has the ability to fund the costs and expenses of managing the Chapter 11 process, ultimately settle its Asbestos Claims (as defined herein) through the establishment of a trust as described above and fund certain other liabilities including

appropriate 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 bankruptcy proceedings. Therefore, Paddock was deconsolidated as of the filing date of January 6, 2020, 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 of $471 million. Taken together, these transactions resulted in a loss of approximately $14 million, which will be reflected as a charge in the Company’s first quarter 2020 operating results. Additionally, the deconsolidation will result 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 extended beyond Paddock arising from 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 relief under Chapter 11.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)

12 Months Ended

Dec. 31, 2019

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)

O-I GLASS, INC.

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED)

Years ended December 31, 2019, 2018, and 2017

(Millions of Dollars)

Reserves deducted from assets in the balance sheets:

Allowances for losses and discounts on receivables


			Additions
	Balance at		Charged to						Balance
	beginning		costs and				Deductions		at end of
	of period		expenses		Other		(Note 1)		period

2019	$	35	$	15	$	(2)	$	(16)	$	32

2018	$	34	$	13	$	(4)	$	(8)	$	35

2017	$	32	$	12	$	(2)	$	(8)	$	34

(1)	Deductions from allowances for losses and discounts on receivables represent uncollectible notes and accounts written off.

Valuation allowance on net deferred tax assets


	Balance at				Charged to other						Balance at
	beginning of		Charged to		comprehensive		Foreign currency		Other		end of
	period		income		income		translation		(Note 1)		period

2019	$	495	$	(31)	$	(14)	$	(1)	$	13	$	462

2018	$	543	$	(20)	$	(7)	$	(9)	$	(12)	$	495

2017	$	1,094	$	15	$	(79)	$	4	$	(491)	$	543

(1)	The U.S. Tax Cuts and Jobs Act ("the Act") was enacted on December 22, 2017. The Act reduced the U.S. federal corporate tax rate to 21% from 35%. The reduction in tax rates reduced certain net U.S. deferred tax assets by $162 million, with an offsetting impact to valuation allowance.

In 2017, $327 million of foreign tax credits expired or were utilized against transition tax, against which a valuation allowance had previously been asserted.

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2019
Significant Accounting Policies
Basis of Consolidated Statements	Basis of Consolidated Statements The consolidated financial statements of the Company (as defined below) include the accounts of its subsidiaries. Newly acquired subsidiaries have been included in the consolidated financial statements from dates of acquisition. The Company uses the equity method of accounting for investments in which it has a significant influence and generally an ownership interest of 20% to 50%. The Company monitors other than temporary declines in fair value and records reductions in carrying values when appropriate.
Nature of Operations	Nature of Operations The Company is a leading manufacturer of glass container products. The Company’s principal product lines are glass containers for the food and beverage industries. The Company has glass container operations located in 23 countries. The principal markets and operations for the Company’s products are in the Americas, Europe and Asia Pacific. The term “Company,” as used herein and unless otherwise stated or indicated by context, refers to Owens-Illinois, Inc. (“O-I”) prior to the Corporate Modernization (as defined below) and to O-I Glass, Inc. (“O-I Glass”) after the Corporate Modernization. On December 26 and 27, 2019, the Company implemented the Corporate Modernization pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated as of December 26, 2019, among O-I, O-I Glass and Paddock Enterprises, LLC (“Paddock”). The Corporate Modernization was conducted pursuant to Section 251(g) of the General Corporation Law of the State of Delaware (the “DGCL”), which permits the creation of a holding company through a merger with a direct or indirect wholly owned subsidiary of the constituent corporation without stockholder approval. The Corporate Modernization involved a series of transactions (together with certain related transactions, the “Corporate Modernization”) pursuant to which (1) O-I formed a new holding company, O-I Glass, as a direct wholly owned subsidiary of O-I and a sister company to Owens-Illinois Group, Inc. (“O-I Group”), (2) O-I Glass formed a new Delaware limited liability company, Paddock, as a direct wholly owned subsidiary of O-I Glass, (3) O-I merged with and into Paddock, with Paddock continuing as the surviving entity and as a direct wholly owned subsidiary of O-I Glass (the “Merger”) and (4) Paddock distributed 100% of the capital stock of O-I Group to O-I Glass, as a result of which O-I Group is a direct wholly owned subsidiary of O-I Glass and sister company to Paddock. Upon the effectiveness of the Merger, each share of O-I stock held immediately prior to the Merger automatically converted into a right to receive an equivalent corresponding share of O-I Glass stock, having the same designations, rights, powers and preferences and the qualifications, limitations, and restrictions as the corresponding share of O-I stock being converted. Immediately after the Corporate Modernization, O-I Glass had, on a consolidated basis, the same assets, businesses and operations as O-I had immediately prior to the Corporate Modernization. After the Corporate Modernization, O-I’s stockholders became stockholders of O-I Glass. The implementation of the Corporate Modernization was accounted for as a merger under common control.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management of the Company to make estimates and assumptions that affect certain amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates, at which time the Company would revise its estimates accordingly.
Foreign Currency Translation	Foreign Currency Translation The assets and liabilities of non-U.S. subsidiaries are translated into U.S. dollars at year-end exchange rates and their results of operations are converted on an ongoing basis at the monthly average rate. Any related translation adjustments are recorded in accumulated other comprehensive income in share owners’ equity.
Revenue Recognition	Revenue Recognition 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, 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.
Shipping and Handling Costs	Shipping and Handling Costs Shipping and handling costs are included with cost of goods sold in the Consolidated Results of Operations.
Stock-Based Compensation	Stock-Based Compensation The Company has various stock-based compensation plans consisting of stock option grants and restricted share awards. Costs resulting from all share-based compensation plans are required to be recognized in the financial statements. A public entity is required to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the required service period (usually the vesting period). No compensation cost is recognized for equity instruments for which employees do not render the required service.
Cash	Cash The Company defines “cash” as cash and time deposits with maturities of three months or less when purchased. Outstanding checks in excess of funds on deposit are included in accounts payable.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable Receivables are stated at amounts estimated by management to be the net realizable value. The Company charges off accounts receivable when it becomes apparent based upon age or customer circumstances that amounts will not be collected. Allowance for Doubtful Accounts The allowance for doubtful accounts is established through charges to the provision for bad debts. The Company evaluates the adequacy of the allowance for doubtful accounts on a periodic basis. The evaluation includes historical trends in collections and write-offs, management’s judgment of the probability of collecting accounts and management’s evaluation of business risk.
Inventory Valuation	Inventory Valuation Inventories are valued at the lower of average costs or market.
Goodwill	Goodwill Goodwill represents the excess of cost over fair value of net assets of businesses acquired. Goodwill is evaluated annually, as of October 1, for impairment or more frequently if an impairment indicator exists, by comparing the estimated fair value of each reporting unit to its carrying value. If the carrying value exceeds the fair value, an impairment charge is recorded in the period of the evaluation based on that difference.
Intangible Assets and Other Long-Lived Assets	Intangible Assets and Other Long-Lived Assets Intangible assets are amortized over the expected useful life of the asset. Amortization expense directly attributed to the manufacturing of the Company’s products is included in cost of goods sold. Amortization expense related to non-manufacturing activities is included in Selling and administrative expense and Other expense, net. The Company evaluates the recoverability of intangible assets and other long-lived assets based on undiscounted projected cash flows, excluding interest and taxes, when factors indicate that impairment may exist. If impairment exists, the asset is written down to fair value.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment (“PP&E”) is carried at cost and includes expenditures for new facilities and equipment and those costs which substantially increase the useful lives or capacity of existing PP&E. In general, depreciation is computed using the straight-line method and recorded over the estimated useful life of the asset. Factory machinery and equipment is depreciated over periods ranging from 5 to 25 years with the majority of such assets (principally glass-melting furnaces and forming machines) depreciated over 7 to 15 years. Buildings and building equipment are depreciated over periods ranging from 10 to 50 years. Depreciation expense directly attributed to the manufacturing of the Company’s products is included in cost of goods sold. Depreciation expense related to non-manufacturing activities is included in selling and administrative. Depreciation expense includes the amortization of assets recorded under capital leases. Maintenance and repairs are expensed as incurred. Costs assigned to PP&E of acquired businesses are based on estimated fair values at the date of acquisition. The Company evaluates the recoverability of PP&E based on undiscounted projected cash flows, excluding interest and taxes, when factors indicate that impairment may exist. If impairment exists, the asset is written down to fair value.
Derivative Instruments	Derivative Instruments The Company uses derivative instruments to manage risks generally associated with foreign exchange rate, interest rate and commodity market volatility. Derivative financial instruments are included on the balance sheet at fair value. Changes in the fair value of derivative assets or liabilities (i.e., gains or losses) are recognized depending upon the type of hedging relationship and whether a hedge has been designated. For those derivative instruments that qualify for hedge accounting, the Company designates the hedging instrument, based upon the exposure being hedged, as a cash flow hedge, fair value hedge, or a hedge of a net investment in a foreign operation. For a derivative instrument designated as a fair value hedge, the gain or loss on the derivative is recognized in earnings immediately with the offsetting gain or loss on the hedged item. For a derivative instrument designated as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of Accumulated other comprehensive loss and is subsequently recognized in earnings when the hedged exposure affects earnings. If there is an ineffective portion of the change in fair value of the derivative it is recognized directly in earnings. For a derivative instrument designated as a hedge of a net investment in a foreign operation, the effective portion of the derivative's gain or loss is reported in Accumulated other comprehensive loss as part of the cumulative translation adjustment and amounts are reclassified out of accumulated other comprehensive loss into earnings when the hedged net investment is either sold or substantially liquidated. Changes in fair value of derivative instruments that do not qualify for hedge accounting are recognized immediately in current net earnings. The Company does not enter into derivative financial instruments for trading purposes and is not a party to leveraged derivatives. In the consolidated statement of cash flows, the settlement of derivative instruments designated as hedges is typically recorded in the category that is consistent with the nature of the underlying item being hedged. See Note 8 to the Consolidated Financial Statements for additional information about hedges and derivative financial instruments.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. Generally accepted accounting principles defines a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which requires the Company to develop assumptions. The carrying amounts reported for cash and short-term loans approximate fair value. In addition, carrying amounts approximate fair value for certain long-term debt obligations subject to frequently redetermined interest rates. Fair values for the Company’s significant fixed rate debt obligations are generally based on published market quotations.
New Accounting Standards	New Accounting Standards Leases - On January 1, 2019, the Company adopted ASU No. 2016-02, “Leases”. Under this guidance, lessees are required to recognize on the balance sheet a lease liability and a right-of-use asset for all leases, with the exception of short-term leases. The adoption of ASU No. 2016-02 had a significant impact on the Company’s consolidated balance sheet due to the recognition of approximately $214 million of lease liabilities with corresponding right-of-use assets for operating leases as of January 1, 2019. The adoption of ASU No. 2016-02 had no material impact on the Company’s retained earnings, consolidated results of operations or consolidated cash flows. The Company elected the package of practical expedients relating to the identification, classification and initial direct costs of leases commencing before the effective date, and the transitional practical expedient for the treatment of existing land easements; however, the Company did not elect the hindsight transitional practical expedient. The Company has also elected the practical expedient to not account for lease components (e.g., fixed payments including rent, real estate taxes and insurance costs) separately from the nonlease components (e.g., common-area maintenance costs). See Note 11, Leases, for additional information. Credit Losses - In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This guidance requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. This guidance also requires enhanced disclosures regarding significant estimates and judgments used in estimating credit losses. The new guidance is effective for the Company on January 1, 2020. The adoption of ASU No. 2016-13 is not expected to have a material effect on the Company’s consolidated financial statements. Income Taxes - In January 2018, the FASB issued ASU 2018-02, “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which gives entities the option to reclassify to retained earnings the tax effects resulting from the U.S. Tax Cuts and Jobs Act (the “Act”) related to items in Accumulated other comprehensive income (“AOCI”) that the FASB refers to as having been stranded in AOCI. The new guidance may be applied retrospectively to each period in which the effect of the Act is recognized in the period of adoption. The Company must adopt this guidance for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. The Company adopted this standard in the first quarter of 2019. The Company has not elected to reclassify income tax effects of the Act from AOCI to retained earnings. Income Taxes - In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. The ASU removes certain exceptions to the general principles of ASC 740 in order to reduce cost and complexity of its application. In addition, the ASU improves consistency and simplifies GAAP in several areas of ASC 740 by clarifying and amending existing guidance. The guidance is effective for the Company for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. Early adoption is permitted in interim or annual periods for which financial statements have not yet been issued, with any adjustments reflected as of the beginning of the fiscal year of adoption. Entities that elect early adoption must adopt all the amendments in the same period. The Company adopted this standard in the fourth quarter of 2019. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. 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 is currently evaluating the impact that the adoption of this guidance will have on its 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.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Information

Net sales for the Company's reportable segments


	2019		2018		2017
Net sales:
Americas	$	3,622	$	3,638	$	3,711
Europe		2,387		2,489		2,375
Asia Pacific		634		675		714
Reportable segment totals		6,643		6,802		6,800
Other		48		75		69
Net sales	$	6,691	$	6,877	$	6,869

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


	2019		2018		2017
Segment operating profit:
Americas	$	495	$	585	$	614
Europe		317		316		263
Asia Pacific		29		44		65
Reportable segment totals		841		945		942
Items excluded from segment operating profit:
Retained corporate costs and other charges		(97)		(106)		(104)
Charge for goodwill impairment		(595)
Charge for asbestos-related costs		(35)		(125)
Pension settlement charges		(26)		(74)		(218)
Restructuring, asset impairment and other		(114)		(102)		(77)
Strategic transaction and corp. modernization costs		(31)
Gain on sale of equity investment		107
Interest expense, net		(311)		(261)		(268)
Earnings (loss) from continuing operations before income taxes	$	(261)	$	277	$	275

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


							Reportable		Retained		Consoli-
					Asia		Segment		Corp Costs		dated
	Americas		Europe		Pacific		Totals		and Other		Totals
Total assets:
2019	$	5,264	$	3,127	$	1,012	$	9,403	$	207	$	9,610
2018		5,497		3,036		918		9,451		248		9,699
2017		5,411		3,133		1,001		9,545		211		9,756
Equity investments:
2019	$	491	$	101	$	102	$	694	$		$	694
2018		429		98		106		633		65		698
2017		259		95		114		468		57		525
Equity earnings:
2019	$	38	$	18	$	2	$	58	$	20	$	78
2018		39		21				60		17		77
2017		41		18				59		18		77
Capital expenditures:
2019	$	178	$	177	$	66	$	421	$	5	$	426
2018		255		187		92		534		2		536
2017		233		152		55		440		1		441
Depreciation and amortization expense:
2019	$	292	$	136	$	60	$	488	$	11	$	499
2018		293		136		55		484		10		494
2017		310		125		43		478		10		488

Schedule of segment information by geographic segment

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


	U.S.		Non-U.S.		Total
2019	$	778	$	2,698	$	3,476
2018		681		2,404		3,085
2017		757		2,374		3,131

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


	U.S.		Non-U.S.		Total
2019	$	1,914	$	4,777	$	6,691
2018		2,020		4,857		6,877
2017		2,072		4,797		6,869

Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenue

Schedule of disaggregation of revenue by customer end use

The following table for the year ended December 31, 2019 disaggregates the Company’s revenue by customer end use:


	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	2,301	$	1,715	$	443	$	4,459
Food and other		760		433		114		1,307
Non-alcoholic beverages		561		239		77		877
Reportable segment totals	$	3,622	$	2,387	$	634	$	6,643
Other								48
Net sales							$	6,691

The following table for the year ended December 31, 2018 disaggregates the Company’s revenue by customer end use:


	Americas		Europe		Asia Pacific		Total

Alcoholic beverages (beer, wine, spirits)	$	2,281	$	1,780	$	493	$	4,554
Food and other		780		461		101		1,342
Non-alcoholic beverages		577		248		81		906
Reportable segment totals	$	3,638	$	2,489	$	675	$	6,802
Other								75
Net sales							$	6,877

Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Inventories

Major classes of inventory


	2019		2018
Finished goods	$	872	$	849
Raw materials		128		125
Operating supplies		45		44
	$	1,045	$	1,018

Equity Investments (Tables)

12 Months Ended

Dec. 31, 2019

Equity Investments

Company's ownership percentage in affiliates

At December 31, 2019 the Company’s ownership percentage in affiliates include:


	O-I Ownership
Affiliates	Percentage		Business Type
Empresas Comegua S.A.	49.7	%	Glass container manufacturer
BJC O-I Glass Pte. Ltd.	50	%	Glass container manufacturer
CO Vidrieria SARL ("COV")	50	%	Glass container manufacturer
Rocky Mountain Bottle Company	50	%	Glass container manufacturer
Vetrerie Meridionali SpA ("VeMe")	50	%	Glass container manufacturer
Vetri Speciali SpA	50	%	Specialty glass manufacturer

Equity in earnings


	2019		2018		2017
Equity in earnings:
Non-U.S.	$	58	$	52	$	45
U.S.		20		25		32
Total	$	78	$	77	$	77
Dividends received	$	42	$	72	$	48

Summary of balance sheet information of equity investments


	2019		2018
At end of year:
Current assets	$	460	$	655
Non-current assets		1,356		1,306
Total assets		1,816		1,961
Current liabilities		303		342
Other liabilities and deferred items		158		242
Total liabilities and deferred items		461		584
Net assets	$	1,355	$	1,377

Summary of income statement information of equity investments


For the year:	2019		2018		2017
Net sales	$	908	$	972	$	883
Gross profit	$	232	$	234	$	242
Net earnings	$	114	$	184	$	165

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets

Schedule of changes in carrying amount of goodwill



	Europe		Americas		Other		Total
Balance as of January 1, 2017	$	808	$	1,649	$	5	$	2,462
Translation effects		105		23				128
Balance as of December 31, 2017		913		1,672		5		2,590
Translation effects		(39)		(38)				(77)
Balance as of December 31, 2018		874		1,634		5		2,513
Acquisition (divestiture) related adjustments				21		(5)		16
Impairment				(595)				(595)
Translation effects		(15)		15				—
Balance as of December 31, 2019	$	859	$	1,075	$	—	$	1,934

Other Assets (Tables)

12 Months Ended

Dec. 31, 2019

Other Assets

Schedule of other assets (noncurrent)


	2019		2018
Right of use lease assets	$	203	$	—
Deferred tax assets		178		191
Deferred returnable packaging costs		110		109
Repair part inventories		115		102
Capitalized software		74		79
Value added taxes		26		26
Other		102		95
	$	808	$	602

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments

Balance Sheet Classification of derivative instruments


	Fair Value of
		Hedge Assets				Hedge Liabilities
		2019		2018		2019		2018
Derivatives designated as hedging instruments:
Commodity forward contracts (a)		$	1	$	1	$	—	$	—
Interest rate swaps - fair value hedges (b)			8		6		2		1
Cash flow hedges of foreign exchange risk (c)			25		10		21		1
Interest rate swaps - cash flow hedges (d)							1
Net investment hedges (e)			2		6				8
Total derivatives accounted for as hedges		$	36	$	23	$	24	$	10
Derivatives not designated as hedges:
Foreign exchange derivative contracts (f)			2		2				2
Total derivatives		$	38	$	25	$	24	$	12


Current		$	8	$	19	$	—	$	3
Noncurrent			30		6		24		9
Total derivatives		$	38	$	25	$	24	$	12

(a)	The notional amounts of the commodity forward contracts were $13 million and $21 million at December 31, 2019 and December 31, 2018, respectively. The maximum maturity dates were in 2020 for both periods.

(b)	The notional amounts of the interest rate swaps designated as fair value hedges were €725 million at December 31, 2019 and December 31, 2018. The maximum maturity dates were in 2025 for December 31, 2019 and 2024 for December 31, 2018.

(c)	The notional amounts of the cash flow hedges of foreign exchange risk were $1.424 billion and $587 million at December 31, 2019 and December 31, 2018, respectively. The maximum maturity dates were in 2023 for both periods.

(d)	The notional amounts of the interest rate swaps designated as cash flow hedges were $105 million and $180 million at December 31, 2019 and December 31, 2018, respectively. Maximum maturity dates were 2020 at December 31, 2019 and 2020 at December 31, 2018.

(e)	The notional amounts of the net investment hedges were €160 million and maximum maturity dates were 2020 at December 31, 2019 and December 31, 2018.

(f)	The notional amounts of the foreign exchange derivative contracts were $283 million and $470 million and maximum maturity dates were 2020 and 2019 at December 31, 2019 and December 31, 2018, respectively.

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)
Derivatives designated as hedging instruments:	2019		2018		2017		2019		2018		2017
Cash Flow Hedges
Commodity forward contracts (a)	$	—	$	(6)	$	6	$	(1)	$	1	$	—
Cash flow hedges of foreign exchange risk (b)		28		12				(30)		9
Cash flow hedges of interest rate risk (c)		(1)		(1)
Net Investment Hedges
Net Investment Hedges		10		5				(7)		1
	$	37	$	10	$	6	$	(38)	$	11	$	—

	Amount of Gain (Loss) Recognized in Other income (expense), net
Derivatives not designated as hedges:	2019		2018		2017
Foreign exchange derivative contracts	$	10	$	1	$	10

(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 (Tables)

12 Months Ended

Dec. 31, 2019

Restructuring

Selected information related to the restructuring accruals

The following table presents information related to restructuring, asset impairment and other costs related to closed facilities from January 1, 2018 through December 31, 2019:


	Employee		Asset		Other		Total
	Costs		Impairment		Exit Costs		Restructuring
Balance at January 1, 2018	$	54	$		$	31	$	85
Charges		20		60		12		92
Write-down of assets to net realizable value				(60)				(60)
Net cash paid, principally severance and related benefits		(24)				(8)		(32)
Transfers to other accounts						(4)		(4)
Other, including foreign exchange translation		(3)				(9)		(12)
Balance at December 31, 2018	$	47	$	—	$	22	$	69
Charges		39		17		13		69
Write-down of assets to net realizable value				(17)				(17)
Net cash paid, principally severance and related benefits		(37)				(17)		(54)
Transfers to other accounts		(14)						(14)
Other, including foreign exchange translation		(3)				(5)		(8)
Balance at December 31, 2019	$	32	$	—	$	13	$	45

Pension Benefit Plans and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2019

Pension Benefit Plans

Defined Benefit Plans and Other Postretirement Benefit Plans

Changes in the benefit obligations


	U.S.				Non-U.S.
	2019		2018		2019		2018
Obligations at beginning of year	$	1,413	$	1,650	$	1,022	$	1,148
Change in benefit obligations:
Service cost		12		14		12		15
Interest cost		58		59		33		32
Actuarial (gain) loss, including the effect of change in discount rates		144		(108)		116		(23)
Settlements		(35)		(114)		(44)		(35)
Acquisitions						30
Participant contributions						1		2
Benefit payments		(87)		(91)		(37)		(51)
Other				3		(6)		(2)
Foreign currency translation						23		(64)
Net change in benefit obligations		92		(237)		128		(126)
Obligations at end of year	$	1,505	$	1,413	$	1,150	$	1,022

Changes in the fair value of the pension plans' assets


	U.S.				Non-U.S.
	2019		2018		2019		2018
Fair value at beginning of year	$	1,094	$	1,394	$	843	$	975
Change in fair value:
Actual gain (loss) on plan assets		235		(96)		110		(15)
Benefit payments		(87)		(91)		(37)		(51)
Employer contributions		8		1		25		33
Participant contributions						1		2
Settlements		(35)		(114)		(44)		(35)
Acquisitions						30
Foreign currency translation						26		(58)
Other						(7)		(8)
Net change in fair value of assets		121		(300)		104		(132)
Fair value at end of year	$	1,215	$	1,094	$	947	$	843

Funded status


	U.S.				Non-U.S.
	2019		2018		2019		2018
Plan assets at fair value	$	1,215	$	1,094	$	947	$	843
Projected benefit obligations		1,505		1,413		1,150		1,022
Plan assets less than projected benefit obligations		(290)		(319)		(203)		(179)
Items not yet recognized in pension expense:
Actuarial loss		722		785		327		285
Prior service cost (credit)						5		4
		722		785		332		289
Net amount recognized	$	432	$	466	$	129	$	110

Net amount recognized included in the Consolidated Balance Sheets


	U.S.				Non-U.S.
	2019		2018		2019		2018
Pension assets	$	—	$	—	$	42	$	44
Current pension liability, included with other accrued liabilities		(1)		(3)		(6)		(5)
Pension benefits		(289)		(316)		(239)		(218)
Accumulated other comprehensive loss		722		785		332		289
Net amount recognized	$	432	$	466	$	129	$	110

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income


	U.S.				Non-U.S.
	2019		2018		2019		2018
Current year actuarial (gain) loss	$	(6)	$	86	$	54	$	43
Amortization of actuarial loss		(41)		(51)		(10)		(11)
Settlement		(22)		(61)		(9)		(13)
Other		5		(1)		1		6
		(64)		(27)		36		25
Translation						8		(18)
Change in accumulated other comprehensive income	$	(64)	$	(27)	$	44	$	7

Components of net periodic pension cost


	U.S.						Non-U.S.
	2019		2018		2017		2019		2018		2017
Service cost	$	12	$	14	$	14	$	12	$	15	$	15
Interest cost		58		59		78		33		32		40
Expected asset return		(86)		(98)		(128)		(48)		(52)		(63)
Amortization:
Actuarial loss		41		51		57		10		11		16
Net expense	$	25	$	26	$	21	$	7	$	6	$	8

Amounts amortized from accumulated other comprehensive income during 2015


	U.S.		Non-U.S.
Actuarial loss	$	56	$	13

Information for plans with projected and accumulated benefit obligations in excess of the fair value of plan assets


	Projected Benefit Obligation Exceeds								Accumulated Benefit Obligation Exceeds
	the Fair Value of Plan Assets								the Fair Value of Plan Assets
	U.S.				Non-U.S.				U.S.				Non-U.S.
	2019		2018		2019		2018		2019		2018		2019		2018
Projected benefit obligations	$	1,505	$	1,413	$	952	$	815	$	1,505	$	1,413	$	952	$	815
Accumulated benefit obligation		1,505		1,412		927		793		1,505		1,412		927		793
Fair value of plan assets		1,215		1,094		706		591		1,215		1,094		706		591

Weighted average assumptions used to determine benefit obligations and net periodic pension costs for pension plans, and accumulated postretirement benefit obligation and net postretirement benefit cost for postretirement plans

The weighted average assumptions used to determine benefit obligations are as follows:


	U.S.				Non-U.S.
	2019		2018		2019		2018
Discount rate	3.39	%	4.36	%	2.53	%	3.01	%
Rate of compensation increase	N/A		N/A		2.89	%	2.75	%

The weighted average assumptions used to determine net periodic pension costs are as follows:


	U.S.						Non-U.S.
	2019		2018		2017		2019		2018		2017
Discount rate	4.36	%	3.69	%	4.17	%	3.01	%	2.76	%	2.94	%
Rate of compensation increase	N/A		N/A		N/A	%	2.76	%	2.78	%	2.90	%
Expected long-term rate of return on assets	7.25	%	7.25	%	7.50	%	5.50	%	5.52	%	6.32	%

Fair value of defined benefit pension plan assets and target allocations


	2019								2018
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	8	$	—	$	—	$	8	$	9	$	—	$	—	$	9
Equity securities								—								—
Debt securities		55		3				58		34		7				41
Real estate								—								—
Other				23				23				30				30
Total	$	63	$	26	$	—			$	43	$	37	$	—
Investments measured at net asset value							$	858							$	763
Total non-U.S. assets at fair value							$	947							$	843

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid


Year(s)	U.S.		Non-U.S.
2020	$	97	$	55
2021		96		53
2022		96		57
2023		94		59
2024		94		59
2025-2029		448		313

Other Postretirement Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans

Changes in the benefit obligations


	U.S.				Non-U.S.
	2019		2018		2019		2018
Obligations at beginning of year	$	74	$	89	$	80	$	89
Change in benefit obligations:
Service cost						1		1
Interest cost		4		3		3		3
Actuarial (gain) loss, including the effect of changing discount rates		3		(9)		(15)		(4)
Benefit payments		(9)		(9)		(2)		(2)
Foreign currency translation						4		(7)
Other
Net change in benefit obligations		(2)		(15)		(9)		(9)
Obligations at end of year	$	72	$	74	$	71	$	80

Funded status


	U.S.				Non-U.S.
	2019		2018		2019		2018
Postretirement benefit obligations	$	(72)	$	(74)	$	(71)	$	(80)
Items not yet recognized in net postretirement benefit cost:
Actuarial gain (loss)		1		(8)		(1)		(2)
Prior service credit		8		15
		9		7		(1)		(2)
Net amount recognized	$	(63)	$	(67)	$	(72)	$	(82)

Net amount recognized included in the Consolidated Balance Sheets


	U.S.				Non-U.S.
	2019		2018		2019		2018
Current nonpension postretirement benefit, included with Other accrued liabilities	$	(5)	$	(6)	$	(3)	$	(3)
Nonpension postretirement benefits		(67)		(68)		(68)		(77)
Accumulated other comprehensive income (loss)		9		7		(1)		(2)
Net amount recognized	$	(63)	$	(67)	$	(72)	$	(82)

Changes in plan assets and/or benefit obligations recognized in accumulated other comprehensive income


	U.S.				Non-U.S.
	2019		2018		2019		2018
Current year actuarial (gain) loss	$	3	$	(8)	$	(15)	$	(4)
Amortization of actuarial loss		(1)		(2)
Amortization of prior service credit		8		7
	$	10	$	(3)	$	(15)	$	(4)

Components of net periodic pension cost


	U.S.						Non-U.S.
	2019		2018		2017		2019		2018		2017
Service cost	$	—	$	—	$	—	$	1	$	1	$	1
Interest cost		4		3		4		3		3		3
Amortization:
Actuarial loss		1		2		2
Prior service credit		(8)		(7)		(8)
Net amortization		(7)		(5)		(6)		—		—		—
Net postretirement benefit (income) cost	$	(3)	$	(2)	$	(2)	$	4	$	4	$	4

Amounts amortized from accumulated other comprehensive income during 2015


	U.S.		Non-U.S.
Amortization:
Actuarial loss	$	1	$	(1)
Prior service credit		(8)
Net amortization	$	(7)	$	(1)


	U.S.						Non-U.S.
	2019		2018		2017		2019		2018		2017
Accumulated postretirement benefit obligation	3.31	%	4.30	%	3.61	%	3.00	%	3.60	%	3.35	%
Net postretirement benefit cost	4.30	%	3.61	%	4.11	%	3.60	%	3.35	%	3.55	%

Weighted average assumed health care cost trend rates


	U.S.				Non-U.S.
	2019		2018		2019		2018
Health care cost trend rate assumed for next year	5.80	%	6.00	%	5.00	%	5.00	%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate)	5.00	%	5.00	%	5.00	%	5.00	%
Year that the rate reaches the ultimate trend rate	2025		2025		N/A		N/A

Effects of one-percentage-point change in assumed health care cost trend rates on amount reported for the postretirement benefit plans


	U.S.				Non-U.S.
	1-Percentage-Point				1-Percentage-Point
	Increase		Decrease		Increase		Decrease
Effect on total of service and interest cost	$	—	$	—	$	1	$	(1)
Effect on accumulated postretirement benefit obligations		3		(2)		11		(9)

Estimated future benefit payments, reflecting expected future service, as appropriate, expected to be paid


Year(s)	U.S.		Non-U.S.
2020	$	6	$	3
2021		6		3
2022		6		3
2023		5		3
2024		5		3
2025 - 2029		21		15

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases

Schedule of components of lease expense


		Year ended
		December 31,
		2019
Lease cost
Finance lease cost:
Amortization of right-of-use assets (included in Cost of goods sold and Selling and administrative expense)	$	6
Interest on lease liabilities (included in Interest expense, net)		2
Operating lease cost (included in Cost of goods sold and Selling and administrative expense)		83
Total lease cost	$	91


		Year ended
		December 31,
		2019
Other information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	83
Operating cash flows from finance leases		2
Financing cash flows from finance leases		6
Right-of-use assets obtained in exchange for new operating lease liabilities		61



	December 31, 2019
Supplemental balance sheet information
Operating leases:
Operating lease right-of-use assets (included in Other assets)	$	203

Current operating lease liabilities (included in Other current liabilities)		65
Noncurrent operating lease liabilities (included in Other long-term liabilities)		138
Total operating lease liabilities	$	203

Finance leases:
Property, plant and equipment	$	107
Accumulated amortization		(33)
Property, plant and equipment, net		74

Current finance lease liabilities (included in Long-term debt due within one year)		7
Noncurrent finance lease liabilities (included in Long-term debt)		63

Total finance lease liabilities	$	70

Weighted-average remaining lease term (in years):
Operating leases		3.3
Finance leases		7.4
Weighted-average discount rate:
Operating leases		7.78	%
Finance leases		3.57	%


Maturity of lease liabilities		Operating leases		Finance leases
2020	$	71	$	9
2021		47		13
2022		35		11
2023		22		11
2024		15		8
2025 and thereafter		41		30
Total lease payments		231		82
Less: imputed interest		(28)		(12)
Total lease obligations	$	203	$	70

Minimum payments related to leases not yet commenced as of December 31, 2019	$	76	$	—

Schedule of supplemental balance sheet information

Schedule of finance leases maturities of lease liabilities

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Provision (benefit) for income taxes calculated based on components of earnings (loss) before income taxes


Continuing operations	2019		2018		2017
U.S.	$	(535)	$	(100)	$	(43)
Non-U.S.		274		377		318
	$	(261)	$	277	$	275


Discontinued operations	2019		2018		2017
U.S.	$	—	$	—	$	—
Non-U.S.		(3)		113		(3)
	$	(3)	$	113	$	(3)

Provision (benefit) for income taxes


	2019		2018		2017
Current:
U.S.	$	12	$	8	$	(5)
Non-U.S.		99		109		87
		111		117		82
Deferred:
U.S.		—		—		6
Non-U.S.		7		(9)		(18)
		7		(9)		(12)
Total:
U.S.		12		8		1
Non-U.S.		106		100		69
Total for continuing operations		118		108		70
Total for discontinued operations		—		—		—
	$	118	$	108	$	70

Reconciliation of the provision for income taxes


	2019		2018		2017
Tax provision on pretax earnings from continuing operations at statutory U.S. Federal tax rate	$	(55)	$	58	$	96
Increase (decrease) in provision for income taxes due to:
Non-U.S. tax rates		14		25		(29)
Global intangible low taxed income and Foreign-derived intangible income		38		32
U.S. Tax Cuts and Jobs Act: transition tax, net of foreign tax credits				(2)		2
Goodwill impairment		125
Tax law changes				4		152
Change in valuation allowance: U.S. tax law change				(2)		(162)
Change in valuation allowance: other		(31)		(18)		(283)
Tax attribute expiration		11		6		330
Withholding tax		16		10		8
Non-deductible expenses		8		4		9
Tax credits and incentives		(28)		(23)		(37)
Changes in tax reserves and audit settlements		20		13		(18)
Mexico inflationary adjustments		4		8		13
Equity earnings		(14)		(13)		(13)
Other taxes based on income		3		7		10
Other items		7		(1)		(8)
Provision for income taxes	$	118	$	108	$	70

Significant components of deferred tax assets and liabilities and deferred taxes included in the Consolidated Balance Sheets


	2019		2018
Deferred tax assets:
Accrued postretirement benefits	$	34	$	38
Asbestos-related liabilities		102		127
Foreign tax credit carryovers		117		96
Operating, capital loss and interest carryovers		272		300
Other credit carryovers		18		18
Accrued liabilities		67		65
Pension liabilities		91		92
Operating lease liabilities		50
Other		27		43
Total deferred tax assets		778		779
Deferred tax liabilities:
Property, plant and equipment		112		97
Intangibles and deferred software		86		92
Operating lease right-of-use assets		50
Total deferred tax liabilities		248		189
Valuation allowance		(462)		(495)
Net deferred taxes	$	68	$	95

Deferred taxes are included in the Consolidated Balance Sheets at December 31, 2019 and 2018 as follows:


	2019		2018
Other assets	$	178	$	191
Deferred taxes		(110)		(96)
Net deferred taxes	$	68	$	95

Reconciliation of the gross unrecognized tax benefits


	2019		2018		2017
Balance at January 1	$	87	$	79	$	74
Additions and reductions for tax positions of prior years		16		(4)		1
Additions based on tax positions related to the current year		12		15		17
Reductions due to the lapse of the applicable statute of limitations						(7)
Reductions due to settlements		(16)				(9)
Foreign currency translation				(3)		3
Balance at December 31	$	99	$	87	$	79
Unrecognized tax benefits, which if recognized, would impact the Company’s effective income tax rate	$	86	$	78	$	72
Accrued interest and penalties at December 31	$	11	$	10	$	8
Interest and penalties included in tax expense for the years ended December 31	$	1	$	2	$	(15)

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt

Long-term Debt



	2019		2018
Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans	$	—	$	—
Term Loans:
Term Loan A		1,477
Previous Secured Credit Agreement:
Revolving Credit Facility:
Revolving Loans
Term Loans:
Term Loan A				897
Other secured debt		333		404
Senior Notes:
6.75%, due 2020 (€500 million)				570
4.875%, due 2021 (€118 million at December 31, 2019 and €330 million at December 31, 2018)		132		376
5.00%, due 2022		497		497
4.00%, due 2023		307		306
5.875%, due 2023		689		688
3.125%, due 2024 (€725 million)		824		825
6.375%, due 2025		295		295
5.375%, due 2025		297		297
2.875%, due 2025 (€500 million)		552
Finance leases		70		45
Other		11		14
Total long-term debt		5,484		5,214
Less amounts due within one year		49		33
Long-term debt	$	5,435	$	5,181

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



	Principal Amount		Indicated Market Price		Fair Value
Senior Notes:
4.875%, due 2021 (€118 million)	$	132	$	106.10	$	140
5.00%, due 2022		500		103.86		519
5.875%, due 2023		700		107.11		750
4.00%, due 2023		310		101.45		314
3.125%, due 2024 (€725 million)		812		106.72		867
6.375%, due 2025		300		109.67		329
5.375%, due 2025		300		104.09		312
2.875%, due 2025 (€500 million)		560		103.85		582

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Contingencies

Asbestos filings and the claims pending at the end of each listed year


	2019	2018	2017
Pending at beginning of year	1,070	1,330	1,400
Disposed	1,170	1,220	1,320
Filed	950	960	1,250
Pending at end of year	850	1,070	1,330

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2019

Accumulated Other Comprehensive Income (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			Income (Loss)
Balance on January 1, 2018	$	(723)	$	(12)		$	(1,091)		$	(1,826)
Change before reclassifications		(166)		(4)			(114)			(284)
Amounts reclassified from accumulated other comprehensive income				(1)	(a)		131	(b)		130
Translation effect				(1)			16			15
Tax effect							(3)			(3)
Other comprehensive income (loss) attributable to the Company		(166)		(6)			30			(142)
Balance on December 31, 2018		(889)		(18)			(1,061)			(1,968)
Change before reclassifications		76		(74)			(21)			(19)
Amounts reclassified from accumulated other comprehensive income				75	(a)		70	(b)		145
Translation effect				1			(7)			(6)
Tax effect				2			3			5
Other comprehensive income (loss) attributable to the Company		76		4			45			125
Balance on December 31, 2019	$	(813)	$	(14)		$	(1,016)		$	(1,843)

(a)	Amount is included in Cost of goods sold on the Consolidated Results of Operations (see Note 8 for additional information).

(b)	Amount is included in the computation of net periodic pension cost and net postretirement benefit cost (see Note 10 for additional information).

Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Stock Based Compensation

Restricted shares and restricted share units activity


		Weighted
	Number of	Average
	Restricted	Grant-Date
	Shares	Fair Value
	(thousands)	(per share)
Nonvested at January 1, 2019	1,053	$	20.29
Granted	580		18.85
Vested	(408)		19.92
Forfeited	(111)		20.20
Nonvested at December 31, 2019	1,114		19.69
Awards granted during 2018		$	22.05
Awards granted during 2017		$	20.01


	2019		2018		2017
Total fair value of shares vested	$	8	$	10	$	5

Performance vested restricted share unit activity


	Number of Performance	Weighted Average
	Vested Restricted Shares	Grant-Date Fair Value
	Units (thousands)	(per unit)
Nonvested at January 1, 2019	1,632	$	18.48
Granted	1,389		17.64
Vested	(1,336)		15.11
Forfeited/Cancelled	(126)		20.84
Nonvested at December 31, 2019	1,559		20.20
Awards granted during 2018		$	19.73
Awards granted during 2017		$	19.57

Other Expense, net (Tables)

12 Months Ended

Dec. 31, 2019

Other Expense, net

Schedule of other expense (income), net


	2019		2018		2017
Impairment of goodwill (see Note 6)	$	595	$	—	$	—
Restructuring, asset impairment and other charges		89		97		77
Charge for asbestos-related costs		35		125
Pension settlement charges		26		74		218
Charge for other asset impairments		22
Intangible amortization expense		41		40		41
Strategic transaction and corporate modernization costs		31
Gain on sale of equity investment		(107)
Royalty income		(12)		(13)		(11)
Foreign currency exchange loss		5		6		5
Non-income tax gain				(19)
Other expense (income, including gains on asset sales), net		4		(41)		(7)
	$	729	$	269	$	323

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share

Computation of basic and diluted earnings per share


	2019		2018		2017
Numerator:
Net earnings (loss) attributable to the Company	$	(400)	$	257	$	180
Denominator (in thousands):
Denominator for basic earnings per share-weighted average shares outstanding		155,250		160,125		162,737
Effect of dilutive securities:
Stock options and other				1,963		1,910
Denominator for diluted earnings per share-adjusted weighted average shares outstanding		155,250		162,088		164,647
Basic earnings per share:
Earnings (loss) from continuing operations	$	(2.56)	$	0.90	$	1.12
Gain (loss) from discontinued operations		(0.02)		0.71		(0.01)
Net earnings (loss)	$	(2.58)	$	1.61	$	1.11
Diluted earnings per share:
Earnings (loss) from continuing operations	$	(2.56)	$	0.89	$	1.11
Gain (loss) from discontinued operations		(0.02)		0.70		(0.01)
Net earnings (loss)	$	(2.58)	$	1.59	$	1.10

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Information

Supplemental cash flow information


	2019		2018		2017
Decrease (increase) in current assets:
Receivables - change in factoring	$	(61)	$	146	$	136
Receivables - all other changes		13		(103)		(173)
Inventories		(26)		(29)		2
Prepaid expenses and other		13		(58)		(10)
Increase (decrease) in current liabilities:
Accounts payable		(62)		67		69
Accrued liabilities		(30)		(16)		(49)
Salaries and wages		(25)		(1)		(21)
U.S. and foreign income taxes		2		9		(43)
	$	(176)	$	15	$	(89)

Income taxes paid (received) in cash


	2019		2018		2017
U.S.	$	2	$	11	$	4
Non-U.S.		101		97		127
Total income taxes paid in cash	$	103	$	108	$	131

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations

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


		June 28, 2019		Measurement Period Adjustments		December 31, 2019
Accounts receivable	$	42	$		$	42
Inventory		17				17
Goodwill		0		21		21
Intangibles		35		(32)		3
Net property, plant and equipment		129		32		161
Total assets acquired		223		21		244
Accounts payable		25		1		26
Accrued liabilities		3				3
Deferred tax liabilities		0		25		25
Net assets acquired	$	195	$	(5)	$	190

Significant Accounting Policies - Reclassifications (Details) - USD ($) $ in Millions	Jan. 01, 2019	Dec. 31, 2019
Significant Accounting Policies
Recognition of lease liability	$ 214
Operating lease right-of-use assets (included in Other assets)	$ 214	$ 203
Lease, Practical Expedients, Package [true false]	true
Lease, Practical Expedient, Land Easement [true false]	true
Lease, Practical Expedient, Use of Hindsight [true false]	false

Segment Information - Reportable Segments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Segment Reporting Information
Number of reportable segments \| segment	3
Number of operating segments \| segment	3
Net sales:
Net sales	$ 6,691	$ 6,877	$ 6,869
Items excluded from segment operating profit:
Retained corporate costs and other charges	(97)	(106)	(104)
Charge for goodwill impairment	(595)
Charge for asbestos related costs	(35)	(125)	0
Pension settlement charges	(26)	(74)	(218)
Restructuring, asset impairment and other	(114)	(102)	(77)
Strategic transaction and corp. modernization costs	(31)
Gain on sale of equity investment	107
Interest expense, net	(311)	(261)	(268)
Earnings from continuing operations before income taxes
Earnings (loss) from continuing operations before income taxes	(261)	277	275
Reportable Segment Totals
Net sales:
Net sales	6,643	6,802	6,800
Segment operating profit:
Segment operating profit	841	945	942
Americas
Net sales:
Net sales	3,622	3,638	3,711
Segment operating profit:
Segment operating profit	495	585	614
Items excluded from segment operating profit:
Charge for goodwill impairment	(595)
Europe
Net sales:
Net sales	2,387	2,489	2,375
Segment operating profit:
Segment operating profit	317	316	263
Asia Pacific
Net sales:
Net sales	634	675	714
Segment operating profit:
Segment operating profit	29	44	65
Other
Net sales:
Net sales	$ 48	$ 75	$ 69

Segment Information - Assets, Investments, Equity, Capital Expenses and Depreciation and Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Assets
Total assets:	$ 9,610	$ 9,699	$ 9,756
Equity investments
Equity investments:	694	698	525
Equity earnings:
Equity earnings	78	77	77
Capital expenditures:
Capital expenditures:	426	536	441
Depreciation and amortization expense:
Depreciation and amortization expense:	499	494	488
Reportable Segment Totals
Assets
Total assets:	9,403	9,451	9,545
Equity investments
Equity investments:	694	633	468
Equity earnings:
Equity earnings	58	60	59
Capital expenditures:
Capital expenditures:	421	534	440
Depreciation and amortization expense:
Depreciation and amortization expense:	488	484	478
Americas
Assets
Total assets:	5,264	5,497	5,411
Equity investments
Equity investments:	491	429	259
Equity earnings:
Equity earnings	38	39	41
Capital expenditures:
Capital expenditures:	178	255	233
Depreciation and amortization expense:
Depreciation and amortization expense:	292	293	310
Europe
Assets
Total assets:	3,127	3,036	3,133
Equity investments
Equity investments:	101	98	95
Equity earnings:
Equity earnings	18	21	18
Capital expenditures:
Capital expenditures:	177	187	152
Depreciation and amortization expense:
Depreciation and amortization expense:	136	136	125
Asia Pacific
Assets
Total assets:	1,012	918	1,001
Equity investments
Equity investments:	102	106	114
Equity earnings:
Equity earnings	2
Capital expenditures:
Capital expenditures:	66	92	55
Depreciation and amortization expense:
Depreciation and amortization expense:	60	55	43
Other
Assets
Total assets:	207	248	211
Equity investments
Equity investments:		65	57
Equity earnings:
Equity earnings	20	17	18
Capital expenditures:
Capital expenditures:	5	2	1
Depreciation and amortization expense:
Depreciation and amortization expense:	$ 11	$ 10	$ 10

Segment Information - Intangible long lived assets, including property, plant and equipment and operating lease right-of-use assets, by geographic segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information
Tangible long lived assets, including property, plant and equipment and operating lease right-of-use assets	$ 3,476	$ 3,085	$ 3,131
Net sales	6,691	6,877	6,869
U.S.
Segment Reporting Information
Tangible long lived assets, including property, plant and equipment and operating lease right-of-use assets	778	681	757
Net sales	1,914	2,020	2,072
Non-U.S.
Segment Reporting Information
Tangible long lived assets, including property, plant and equipment and operating lease right-of-use assets	2,698	2,404	2,374
Net sales	$ 4,777	$ 4,857	$ 4,797

Revenue (Details) - USD ($) $ in Millions	12 Months Ended
Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue
Net sales	$ 6,691	$ 6,877	$ 6,869
Reportable Segment Totals
Disaggregation of Revenue
Net sales	6,643	6,802	6,800
Americas
Disaggregation of Revenue
Net sales	3,622	3,638	3,711
Europe
Disaggregation of Revenue
Net sales	2,387	2,489	2,375
Asia Pacific
Disaggregation of Revenue
Net sales	634	675	714
Other
Disaggregation of Revenue
Net sales	48	75	$ 69
Alcoholic beverages (beer, wine, spirits)
Disaggregation of Revenue
Net sales	4,459	4,554
Alcoholic beverages (beer, wine, spirits) \| Americas
Disaggregation of Revenue
Net sales	2,301	2,281
Alcoholic beverages (beer, wine, spirits) \| Europe
Disaggregation of Revenue
Net sales	1,715	1,780
Alcoholic beverages (beer, wine, spirits) \| Asia Pacific
Disaggregation of Revenue
Net sales	443	493
Food and other
Disaggregation of Revenue
Net sales	1,307	1,342
Food and other \| Americas
Disaggregation of Revenue
Net sales	760	780
Food and other \| Europe
Disaggregation of Revenue
Net sales	433	461
Food and other \| Asia Pacific
Disaggregation of Revenue
Net sales	114	101
Non-alcoholic beverages
Disaggregation of Revenue
Net sales	877	906
Non-alcoholic beverages \| Americas
Disaggregation of Revenue
Net sales	561	577
Non-alcoholic beverages \| Europe
Disaggregation of Revenue
Net sales	239	248
Non-alcoholic beverages \| Asia Pacific
Disaggregation of Revenue
Net sales	$ 77	$ 81

Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Inventories
Finished goods	$ 872	$ 849
Raw materials	128	125
Operating supplies	45	44
Inventories	$ 1,045	$ 1,018

Equity Investments - Ownership Percentage (Details)	Dec. 31, 2019
Empresas Comegua S.A
Equity Investments Information
Percentage of equity method investments	49.70%
BJC O-I Glass Pte. Ltd
Equity Investments Information
Percentage of equity method investments	50.00%
CO Vidrieria SARL ("COV")
Equity Investments Information
Percentage of equity method investments	50.00%
Rocky Mountain Bottle Company
Equity Investments Information
Percentage of equity method investments	50.00%
Tata Chemical (Soda Ash) Partners
Equity Investments Information
Percentage of equity method investments sold	25.00%
Vetrerie Meridionali SpA ("VeMe")
Equity Investments Information
Percentage of equity method investments	50.00%
Vetri Speciali SpA
Equity Investments Information
Percentage of equity method investments	50.00%

Equity Investments (Details) - USD ($) $ in Millions	12 Months Ended
Equity Investments (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity Investments Information
Equity earnings	$ 78	$ 77	$ 77
Dividends received	42	72	48
Equity method investments, assets
Current assets	460	655
Non-current assets	1,356	1,306
Total assets	1,816	1,961
Equity method investments, liabilities and equity
Current liabilities	303	342
Other liabilities and deferred items	158	242
Total liabilities and deferred items	461	584
Net assets	1,355	1,377
Summarized combined financial information for equity associates for the year:
Net sales	908	972	883
Gross profit	232	234	242
Net earnings	114	184	165
Purchased equity from affiliates	205	255
Due to affiliates	103	111
Non-U.S.
Equity Investments Information
Equity earnings	58	52	45
U.S.
Equity Investments Information
Equity earnings	$ 20	$ 25	$ 32

Goodwill and Intangible Assets - Goodwill Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period	$ 2,513	$ 2,590	$ 2,462
Translation effects		(77)	128
Acquisition (divestiture) related adjustments	16
Impairment	(595)
Balance of Goodwill at end of the period	1,934	2,513	2,590
Europe
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period	874	913	808
Translation effects	(15)	(39)	105
Balance of Goodwill at end of the period	859	874	913
Americas
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period	1,634	1,672	1,649
Translation effects	15	(38)	23
Acquisition (divestiture) related adjustments	21
Impairment	(595)
Balance of Goodwill at end of the period	1,075	1,634	1,672
Accumulated impairment losses	595
North America
Changes in the carrying amount of goodwill
Balance of Goodwill at end of the period	446
Other
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period	5	5	5
Acquisition (divestiture) related adjustments	(5)
Balance of Goodwill at end of the period		5	5
Asia Pacific
Changes in the carrying amount of goodwill
Balance of Goodwill at beginning of period	0	0
Balance of Goodwill at end of the period	0	0	0
Accumulated impairment losses	$ 1,135	$ 1,135	$ 1,135

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets
Accumulated amortization	$ 183	$ 142
Net Carrying Amount	371	400
Goodwill impairment charge	595
Intangible amortization expense	41	$ 40	$ 41
Impairment of intangible assets	0
Americas
Finite-Lived Intangible Assets
Goodwill impairment charge	$ 595
Customer list intangibles
Finite-Lived Intangible Assets
Useful life	20 years
2020	$ 41
2021	39
2022	36
2023	32
2024	$ 30

Other Assets (Details) - USD ($) $ in Millions	12 Months Ended
Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Other assets (non current):
Right of use lease assets	$ 203			$ 214
Deferred tax assets	178	$ 191
Deferred returnable packaging costs	110	109
Repair parts inventories	115	102
Capitalized software	74	79
Value added taxes	26	26
Other	102	95
Total other assets	808	602
Capitalized software
Other information related to capitalized software
Amortization expense for capitalized software	13	$ 12	$ 12
Estimated amortization expense
2020	13
2021	12
2022	12
2023	11
2024	$ 10

Derivative Instruments - Derivatives and Hedges (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Derivatives and Hedges
Proceeds for hedging activity		$ (28)
Net investment hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI		8	$ 4
Commodity forward contracts \| Cash Flow Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI		1	1
Foreign exchange risk \| Cash Flow Hedges
Derivatives and Hedges
Proceeds for hedging activity	$ 15
Unrecognized (loss) gain included in Accumulated OCI			(9)
Foreign exchange risk \| Cash Flow Hedges \| Maximum
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI		(1)
Interest rate swaps \| Fair Value Hedges
Derivatives and Hedges
Proceeds for hedging activity	$ 13
Interest rate risk \| Cash Flow Hedges
Derivatives and Hedges
Unrecognized (loss) gain included in Accumulated OCI		$ (1)
Interest rate risk \| 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	Dec. 31, 2019 EUR (€)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 EUR (€)	Dec. 31, 2018 USD ($)
Derivatives, Fair Value
Total asset derivatives		$ 38.0		$ 25.0
Total liability derivatives		24.0		12.0
Current derivative asset		8.0		19.0
Current derivative liability				3.0
Noncurrent derivative asset		30.0		6.0
Noncurrent derivative liability		24.0		9.0
Derivatives designated as hedging instruments
Derivatives, Fair Value
Total asset derivatives		36.0		23.0
Total liability derivatives		24.0		10.0
Derivatives designated as hedging instruments \| Commodity forward contracts
Derivatives, Fair Value
Notional amount		13.0		21.0
Total asset derivatives		1.0		1.0
Derivatives designated as hedging instruments \| Interest rate swaps - fair value hedges
Derivatives, Fair Value
Notional amount \| €	€ 725		€ 725
Total asset derivatives		8.0		6.0
Total liability derivatives		2.0		1.0
Derivatives designated as hedging instruments \| Interest rate swaps - cash flow hedges
Derivatives, Fair Value
Notional amount		105.0		180.0
Total liability derivatives		1.0
Derivatives designated as hedging instruments \| Cash flow hedges of foreign exchange risk
Derivatives, Fair Value
Notional amount		1,424.0		587.0
Total asset derivatives		25.0		10.0
Total liability derivatives		21.0		1.0
Derivatives designated as hedging instruments \| Net investment hedges
Derivatives, Fair Value
Total asset derivatives		2.0		6.0
Total liability derivatives				8.0
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivatives, Fair Value
Notional amount		283.0		470.0
Total asset derivatives		$ 2.0		2.0
Total liability derivatives				$ 2.0
Net investment hedges \| Derivatives designated as hedging instruments
Derivatives, Fair Value
Notional amount \| €	€ 160		€ 160

Derivative Instruments - Effects of Derivative Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivatives and Hedges
Amount of Gain (Loss) Recognized in Other income (expense), net	$ 10	$ 1	$ 10
Derivatives designated as hedging instruments
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	37	10	6
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(38)	11
Derivatives designated as hedging instruments \| Net Investment Hedges
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	10	5
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(7)	1
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)		(6)	$ 6
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(1)	1
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Cash Flow Hedges \| Other expense, net
Derivatives and Hedges
Gain (Loss) Recognized in OCI (Effective Portion)	28	12
Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(30)	9
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)

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
Restructuring (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring accrual
Beginning balance, restructuring reserve		$ 69	$ 85
Charges		69	92	$ 72
Write-down of assets to net realizable value		(17)	(60)
Net cash paid, principally severance and related benefits		(54)	(32)	(62)
Transfers to other accounts	$ (14)	(14)	(4)
Other, including foreign exchange translation		(8)	(12)
Ending balance, restructuring reserve	45	45	69	85
Restructuring, Additional Information
Carrying value of impaired assets	0	0	9
Cost of goods sold
Restructuring accrual
Charges			5
Selling and administrative expense
Restructuring accrual
Charges		2
Other expense, net
Restructuring accrual
Charges		67	87
Employee Costs
Restructuring accrual
Beginning balance, restructuring reserve		47	54
Charges		39	20
Net cash paid, principally severance and related benefits		(37)	(24)
Transfers to other accounts		(14)
Other, including foreign exchange translation		(3)	(3)
Ending balance, restructuring reserve	32	32	47	54
Asset Impairment
Restructuring accrual
Charges		17	60
Write-down of assets to net realizable value		(17)	(60)
Other Exit Costs
Restructuring accrual
Beginning balance, restructuring reserve		22	31
Charges		13	12
Net cash paid, principally severance and related benefits		(17)	(8)
Transfers to other accounts			(4)
Other, including foreign exchange translation		(5)	(9)
Ending balance, restructuring reserve	$ 13	$ 13	$ 22	$ 31

Pensions Benefit Plans and Other Postretirement Benefits - Changes in the Benefit Obligation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Benefit Plans \| U.S.
Changes in the pension and postretirement benefit obligations
Obligations at beginning of year	$ 1,413	$ 1,650
Change in benefit obligations:
Service cost	12	14	$ 14
Interest cost	58	59	78
Actuarial (gain) loss, including the effect of change in discount rates	144	(108)
Settlements	(35)	(114)
Benefit payments	(87)	(91)
Other		3
Net change in benefit obligations	92	(237)
Obligations at end of year	1,505	1,413	1,650
Pension Benefit Plans \| Non-U.S.
Changes in the pension and postretirement benefit obligations
Obligations at beginning of year	1,022	1,148
Change in benefit obligations:
Service cost	12	15	15
Interest cost	33	32	40
Actuarial (gain) loss, including the effect of change in discount rates	116	(23)
Settlements	(44)	(35)
Acquisitions	30
Participant contributions	1	2
Benefit payments	(37)	(51)
Other	(6)	(2)
Foreign currency translation	23	(64)
Net change in benefit obligations	128	(126)
Obligations at end of year	1,150	1,022	1,148
Other Postretirement Benefits \| U.S.
Changes in the pension and postretirement benefit obligations
Obligations at beginning of year	74	89
Change in benefit obligations:
Interest cost	4	3	4
Actuarial (gain) loss, including the effect of change in discount rates	3	(9)
Benefit payments	(9)	(9)
Net change in benefit obligations	(2)	(15)
Obligations at end of year	72	74	89
Other Postretirement Benefits \| Non-U.S.
Changes in the pension and postretirement benefit obligations
Obligations at beginning of year	80	89
Change in benefit obligations:
Service cost	1	1	1
Interest cost	3	3	3
Actuarial (gain) loss, including the effect of change in discount rates	(15)	(4)
Benefit payments	(2)	(2)
Foreign currency translation	4	(7)
Net change in benefit obligations	(9)	(9)
Obligations at end of year	$ 71	$ 80	$ 89

Pensions Benefit Plans and Other Postretirement Benefits - Changes in Fair Value of Pension Plan Assets (Details) - Pension Benefit Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
U.S.
Changes in fair value of pension plan assets
Fair value at beginning of year	$ 1,094	$ 1,394
Actual gain (loss) on plan assets	235	(96)
Benefit payments	(87)	(91)
Employer contributions	8	1
Settlements	(35)	(114)
Net change in fair value of assets	121	(300)
Fair value at end of year	1,215	1,094
Non-U.S.
Changes in fair value of pension plan assets
Fair value at beginning of year	843	975
Actual gain (loss) on plan assets	110	(15)
Benefit payments	(37)	(51)
Employer contributions	25	33
Participant contributions	1	2
Settlements	(44)	(35)
Acquisitions	30
Foreign currency translation	26	(58)
Other	(7)	(8)
Net change in fair value of assets	104	(132)
Fair value at end of year	$ 947	$ 843

Pensions Benefit Plans and Other Postretirement Benefits - Funded Status (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Benefit Plans \| Minimum
Defined Benefit Plan Disclosure
Percentage of pension plan assets	10.00%
U.S. \| Pension Benefit Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 1,215	$ 1,094	$ 1,394
Postretirement benefit obligations	1,505	1,413	1,650
Plan assets less than projected benefit obligations	(290)	(319)
Items not yet recognized in pension expense and net postretirement benefit cost:
Actuarial gain (loss)	722	785
Total	722	785
Net amount recognized	432	466
U.S. \| Other Postretirement Benefits
Defined Benefit Plan Disclosure
Postretirement benefit obligations	72	74	89
Items not yet recognized in pension expense and net postretirement benefit cost:
Actuarial gain (loss)	1	(8)
Prior service cost (credit)	8	15
Total	9	7
Net amount recognized	(63)	(67)
Non-U.S. \| Pension Benefit Plans
Defined Benefit Plan Disclosure
Plan assets at fair value	947	843	975
Postretirement benefit obligations	1,150	1,022	1,148
Plan assets less than projected benefit obligations	(203)	(179)
Items not yet recognized in pension expense and net postretirement benefit cost:
Actuarial gain (loss)	327	285
Prior service cost (credit)	5	4
Total	332	289
Net amount recognized	129	110
Non-U.S. \| Other Postretirement Benefits
Defined Benefit Plan Disclosure
Postretirement benefit obligations	71	80	$ 89
Items not yet recognized in pension expense and net postretirement benefit cost:
Actuarial gain (loss)	(1)	(2)
Total	(1)	(2)
Net amount recognized	$ (72)	$ (82)

Pensions Benefit Plans and Other Postretirement Benefits - Net Amount Recognized Included in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Net amount recognized included in the Consolidated Balance Sheets
Pension assets	$ 42	$ 44
U.S. \| Pension Benefit Plans
Net amount recognized included in the Consolidated Balance Sheets
Current pension liability and nonpension postretirement benefit, included with Other accrued liabilities	(1)	(3)
Pension benefits and nonpension postretirement benefits	(289)	(316)
Accumulated other comprehensive loss	722	785
Net amount recognized	432	466
U.S. \| Other Postretirement Benefits
Net amount recognized included in the Consolidated Balance Sheets
Current pension liability and nonpension postretirement benefit, included with Other accrued liabilities	(5)	(6)
Pension benefits and nonpension postretirement benefits	(67)	(68)
Accumulated other comprehensive loss	9	7
Net amount recognized	(63)	(67)
Non-U.S. \| Pension Benefit Plans
Net amount recognized included in the Consolidated Balance Sheets
Pension assets	42	44
Current pension liability and nonpension postretirement benefit, included with Other accrued liabilities	(6)	(5)
Pension benefits and nonpension postretirement benefits	(239)	(218)
Accumulated other comprehensive loss	332	289
Net amount recognized	129	110
Non-U.S. \| Other Postretirement Benefits
Net amount recognized included in the Consolidated Balance Sheets
Current pension liability and nonpension postretirement benefit, included with Other accrued liabilities	(3)	(3)
Pension benefits and nonpension postretirement benefits	(68)	(77)
Accumulated other comprehensive loss	(1)	(2)
Net amount recognized	$ (72)	$ (82)

Pension Benefit Plans and Other Postretirement Benefits - Changes in Plan Assets and Benefit Obligations Recognized in AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Settlement	$ (26)	$ (74)	$ (218)
U.S. \| Pension Benefit Plans
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Current year actuarial (gain) loss	(6)	86
Amortization of prior service credit	(41)	(51)
Settlement	(22)	(61)
Other adjustments	5	(1)
Total	(64)	(27)
Changes in benefit obligations were recognized in accumulated other comprehensive income	(64)	(27)
U.S. \| Other Postretirement Benefits
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Current year actuarial (gain) loss	3	(8)
Amortization of actuarial loss	(1)	(2)
Amortization of prior service credit	8	7
Total	10	(3)
Non-U.S. \| Pension Benefit Plans
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Current year actuarial (gain) loss	54	43
Amortization of prior service credit	(10)	(11)
Settlement	(9)	(13)
Other adjustments	1	6
Total	36	25
Translation	8	(18)
Changes in benefit obligations were recognized in accumulated other comprehensive income	44	7
Non-U.S. \| Other Postretirement Benefits
Changes in plan assets and benefit obligations were recognized in accumulated other comprehensive income
Current year actuarial (gain) loss	(15)	(4)
Total	$ (15)	$ (4)

Pensions Benefit Plans and Other Postretirement Benefits - Components of Net Periodic Pension and Postretirement Cost (Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Amortization:
Settlement charges	$ 26	$ 74	$ 218
Pension Benefit Plans
Amortization:
Accumulated benefit obligation	2,622	2,379
U.S. \| Pension Benefit Plans
Components of net periodic pension cost
Service cost	12	14	14
Interest cost	58	59	78
Expected asset return	(86)	(98)	(128)
Amortization:
Amortization of actuarial loss	41	51	57
Net periodic pension cost	25	26	21
Settlement charges	22	61
Settlement cost	17	61	176
Annuity contract purchase for settlement of pension obligation		94	369
U.S. \| Other Postretirement Benefits
Components of net periodic pension cost
Interest cost	4	3	4
Amortization:
Amortization of actuarial loss	1	2	2
Prior service cost	(8)	(7)	(8)
Net amortization	(7)	(5)	(6)
Net periodic pension cost	(3)	(2)	(2)
Non-U.S. \| Pension Benefit Plans
Components of net periodic pension cost
Service cost	12	15	15
Interest cost	33	32	40
Expected asset return	(48)	(52)	(63)
Amortization:
Amortization of actuarial loss	10	11	16
Net periodic pension cost	7	6	8
Settlement charges	9	13
Non-U.S. \| Other Postretirement Benefits
Components of net periodic pension cost
Service cost	1	1	1
Interest cost	3	3	3
Amortization:
Net periodic pension cost	4	4	4
Canadian Pension Plans \| Pension Benefit Plans
Amortization:
Settlement cost			27
Annuity contract purchase for settlement of pension obligation			123
Pension Plan of the United Kingdom \| Pension Benefit Plans
Amortization:
Settlement cost	7	$ 13	$ 15
Pension Plan of Mexico \| Pension Benefit Plans
Amortization:
Settlement cost	$ 2

Pensions Benefit Plans and Other Postretirement Benefits - Amortized From AOCI (Details) $ in Millions	Dec. 31, 2019 USD ($)
U.S. \| Pension Benefit Plans
Amortization:
Actuarial loss	$ 56
U.S. \| Other Postretirement Benefits
Amortization:
Actuarial loss	1
Prior service credit	(8)
Net amortization	(7)
Non-U.S. \| Pension Benefit Plans
Amortization:
Actuarial loss	13
Non-U.S. \| Other Postretirement Benefits
Amortization:
Actuarial loss	(1)
Net amortization	$ (1)

Pensions Benefit Plans and Other Postretirement Benefits - Projected and Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets (Details) - Pension Benefit Plans - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
U.S.
Projected Benefit Obligation Exceeds the Fair Value of Plan Assets
Projected benefit obligations	$ 1,505	$ 1,413
Accumulated benefit obligation	1,505	1,412
Fair value of plan assets	1,215	1,094
Accumulated Benefit Obligations Exceeds the Fair Value of Plan Assets
Projected benefit obligations	1,505	1,413
Accumulated benefit obligation	1,505	1,412
Fair value of plan assets	1,215	1,094
Non-U.S.
Projected Benefit Obligation Exceeds the Fair Value of Plan Assets
Projected benefit obligations	952	815
Accumulated benefit obligation	927	793
Fair value of plan assets	706	591
Accumulated Benefit Obligations Exceeds the Fair Value of Plan Assets
Projected benefit obligations	952	815
Accumulated benefit obligation	927	793
Fair value of plan assets	$ 706	$ 591

Pensions Benefit Plans and Other Postretirement Benefits - Weighted Average Assumptions (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Tenure used for computing historical long-term rate of return assumption	10 years
U.S. \| Pension Benefit Plans
Weighted average assumptions used to determine pension and accumulated postretirement benefit obligations
Discount rate used to determine pension and accumulated postretirement benefit obligations (as a percent)	3.39%	4.36%
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Discount rate used to determine net periodic pension costs and net postretirement benefit cost (as a percent)	4.36%	3.69%	4.17%
Expected long-term rate of return on assets (as a percent)	7.25%	7.25%	7.50%
U.S. \| Other Postretirement Benefits
Weighted average assumptions used to determine pension and accumulated postretirement benefit obligations
Discount rate used to determine pension and accumulated postretirement benefit obligations (as a percent)	3.31%	4.30%	3.61%
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Discount rate used to determine net periodic pension costs and net postretirement benefit cost (as a percent)	4.30%	3.61%	4.11%
Non-U.S. \| Pension Benefit Plans
Weighted average assumptions used to determine pension and accumulated postretirement benefit obligations
Discount rate used to determine pension and accumulated postretirement benefit obligations (as a percent)	2.53%	3.01%
Rate of compensation increase (as a percent)	2.89%	2.75%
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Discount rate used to determine net periodic pension costs and net postretirement benefit cost (as a percent)	3.01%	2.76%	2.94%
Rate of compensation increase (as a percent)	2.76%	2.78%	2.90%
Expected long-term rate of return on assets (as a percent)	5.50%	5.52%	6.32%
Non-U.S. \| Other Postretirement Benefits
Weighted average assumptions used to determine pension and accumulated postretirement benefit obligations
Discount rate used to determine pension and accumulated postretirement benefit obligations (as a percent)	3.00%	3.60%	3.35%
Weighted average assumptions used to determine net periodic pension costs and net postretirement benefit cost
Discount rate used to determine net periodic pension costs and net postretirement benefit cost (as a percent)	3.60%	3.35%	3.55%

Pensions Benefit Plans and Other Postretirement Benefits - U.S. Plan Assets By Hierarchy (Details) - Pension Benefit Plans - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Minimum
Defined Benefit Plan Disclosure
Percentage of pension plan assets	10.00%
U.S.
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 1,215	$ 1,094	$ 1,394
U.S. \| Equity securities
Defined Benefit Plan Disclosure
Percentage of pension plan assets	65.00%
U.S. \| Debt securities
Defined Benefit Plan Disclosure
Percentage of pension plan assets	28.00%
U.S. \| Real estate and other
Defined Benefit Plan Disclosure
Percentage of pension plan assets	7.00%
Non-U.S.
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 947	843	$ 975
Investments measured at net asset value	858	763
Non-U.S. \| Cash and cash equivalents
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 8	9
Non-U.S. \| Equity securities
Defined Benefit Plan Disclosure
Percentage of pension plan assets	12.00%
Non-U.S. \| Debt securities
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 58	41
Percentage of pension plan assets	62.00%
Non-U.S. \| Other
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 23	30
Non-U.S. \| Real estate and other
Defined Benefit Plan Disclosure
Percentage of pension plan assets	26.00%
Non-U.S. \| Level 1
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 63	43
Non-U.S. \| Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure
Plan assets at fair value	8	9
Non-U.S. \| Level 1 \| Debt securities
Defined Benefit Plan Disclosure
Plan assets at fair value	55	34
Non-U.S. \| Level 2
Defined Benefit Plan Disclosure
Plan assets at fair value	26	37
Non-U.S. \| Level 2 \| Debt securities
Defined Benefit Plan Disclosure
Plan assets at fair value	3	7
Non-U.S. \| Level 2 \| Other
Defined Benefit Plan Disclosure
Plan assets at fair value	$ 23	$ 30

Pensions Benefit Plans and Other Postretirement Benefits - Minimum Funding Requirements and Estimated Future Benefit Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2020
Defined Benefit Plan Disclosure
Defined contribution plans for salaried and hourly U.S. employees	$ 33	$ 36	$ 33
U.S. \| Pension Benefit Plans
Estimated future benefit payments
2020	97
2021	96
2022	96
2023	94
2024	94
2025 - 2029	448
U.S. \| Other Postretirement Benefits
Estimated future benefit payments
2020	6
2021	6
2022	6
2023	5
2024	5
2025 - 2029	21
Non-U.S. \| Pension Benefit Plans
Estimated future benefit payments
2020	55
2021	53
2022	57
2023	59
2024	59
2025 - 2029	313
Non-U.S. \| Pension Benefit Plans \| Forecast
Defined Benefit Plan Disclosure
Contribution to defined benefit plan				$ 52
Non-U.S. \| Other Postretirement Benefits
Estimated future benefit payments
2020	3
2021	3
2022	3
2023	3
2024	3
2025 - 2029	$ 15

Pensions Benefit Plans and Other Postretirement Benefits - Weighted Average Assumptions Assumed and Effect of Percentage Point Change in Health Care Cost Trend (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure
Payments to the trust as required by the bargaining agreements are based upon specified amounts per hour worked	$ 5	$ 6	$ 6
U.S.
Weighted average assumed health care cost trend (in percent)
Health care cost trend rate assumed for next year (as a percent)	5.80%	6.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) (as a percent)	5.00%	5.00%
Year that the rate reaches the ultimate trend rate	2025	2025
Effect of one-percentage-point change in assumed health care cost trend rates (in percent)
One-Percentage-Point Increase, effect on accumulated postretirement benefit obligations	$ 3
One-Percentage-Point Decrease, effect on accumulated postretirement benefit obligations	$ (2)
Non-U.S.
Weighted average assumed health care cost trend (in percent)
Health care cost trend rate assumed for next year (as a percent)	5.00%	5.00%
Rate to which the cost trend rate is assumed to decline (ultimate trend rate) (as a percent)	5.00%	5.00%
Effect of one-percentage-point change in assumed health care cost trend rates (in percent)
One-Percentage-Point Increase, effect on total of service and interest cost	$ 1
One-Percentage-Point Decrease, effect on total of service and interest cost	(1)
One-Percentage-Point Increase, effect on accumulated postretirement benefit obligations	11
One-Percentage-Point Decrease, effect on accumulated postretirement benefit obligations	$ (9)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases
Finance leases - option to extend	true
Operating leases - option to extend	true
Rent expense		$ 91	$ 91
2019		69
2020		53
2021		41
2022		36
2023		29
2024 and thereafter		$ 40

Leases - Lease Cost (Details) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases
Amortization of right-of-use assets (included in Cost of goods sold and Selling and administrative expense)	$ 6
Interest on lease liabilities (included in Interest expense, net)	2
Operating lease cost (included in Cost of goods sold and Selling and administrative expense)	83
Total lease cost	$ 91

Leases - Other information (Details) $ in Millions	12 Months Ended
Leases - Other information (Details) $ in Millions	Dec. 31, 2019 USD ($)
Leases
Operating cash flows from operating leases	$ 83
Operating cash flows from finance leases	2
Financing cash flows from finance leases	6
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 61

Leases - Supplemental balance sheet information (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating leases:
Operating lease right-of-use assets (included in Other assets)	$ 203	$ 214
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent
Current operating lease liabilities (included in Other current liabilities)	$ 65
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current
Noncurrent operating lease liabilities (included in Other long-term liabilities)	$ 138
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent
Total operating lease liabilities	$ 203
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent us-gaap:OtherLiabilitiesNoncurrent
Finance leases:
Property, plant and equipment	$ 7,628		$ 7,024
Accumulated amortization	(4,355)		(3,939)
Net property, plant and equipment	3,273		$ 3,085
Current finance lease liabilities (included in Long-term debt due within one year)	$ 7
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Long-term Debt, Current Maturities
Noncurrent finance lease liabilities (included in Long-term debt)	$ 63
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term Debt, Excluding Current Maturities
Total finance lease liabilities	$ 70
Finance Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtCurrent us-gaap:LongTermDebtNoncurrent
Weighted-average remaining lease term (in years):
Operating leases weighted-average remaining lease term (in years)	3 years 3 months 18 days
Finance leases weighted-average remaining lease term (in years)	7 years 4 months 24 days
Weighted-average discount rate:
Operating leases (as a percent)	7.78%
Finance leases (as a percent)	3.57%
Property, plant and equipment finance leases
Finance leases:
Property, plant and equipment	$ 107
Accumulated amortization	(33)
Net property, plant and equipment	$ 74

Leases - Maturity of lease liabilities (Details) $ in Millions	Dec. 31, 2019 USD ($)
Operating leases
2020	$ 71
2021	47
2022	35
2023	22
2024	15
2025 and thereafter	41
Total lease payments	231
Less: imputed interest	(28)
Total operating lease liabilities	203
Minimum payments related to leases not yet commenced-Operating leases	76
Finance leases
2020	9
2021	13
2022	11
2023	11
2024	8
2025 and thereafter	30
Total lease payments	82
Less: imputed interest	(12)
Total finance lease liabilities	$ 70

Income Taxes - Provision for Income Taxes, Continued and Discontinued Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Continuing operations
U.S.	$ (535)	$ (100)	$ (43)
Non-U.S.	274	377	318
Earnings (loss) from continuing operations before income taxes	(261)	277	275
Discontinued operations;
Non-U.S.	(3)	113	(3)
Discontinued operations total	$ (3)	$ 113	$ (3)

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
U.S.	$ 12	$ 8	$ (5)
Non-U.S.	99	109	87
Total	111	117	82
Deferred:
U.S.			6
Non-U.S.	7	(9)	(18)
Total	7	(9)	(12)
Total:
U.S.	12	8	1
Non-U.S.	106	100	69
Provision for income taxes	118	108	70
Total	$ 118	$ 108	$ 70

Income Taxes - Reconciliation of the Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
A reconciliation of the provision (benefit) for income taxes
Statutory U.S. Federal tax rate (as a percent)	21.00%	21.00%	35.00%
Increase (decrease) in provision for income taxes due to:
Tax provision on pretax earnings from continuing operations at statutory U.S. Federal tax rate	$ (55)	$ 58	$ 96
Non-U.S. tax rates	14	25	(29)
Global intangible low taxed income and Foreign-derived intangible income	38	32
U.S. Tax Cuts and Jobs Act: transition tax, net of foreign tax credits		(2)	2
Goodwill impairment	125
Tax law changes		4	152
Change in valuation allowance: U.S. tax law change		(2)	(162)
Change in valuation allowance: other	(31)	(18)	(283)
Tax attribute expiration	11	6	330
Withholding tax	16	10	8
Non-deductible expenses	8	4	9
Tax credits and incentives	(28)	(23)	(37)
Changes in tax reserves and audit settlements	20	13	(18)
Mexico inflationary adjustment	4	8	13
Equity earnings	(14)	(13)	(13)
Other taxes based on income	3	7	10
Other items	7	(1)	(8)
Provision for income taxes	$ 118	$ 108	$ 70

Income Taxes - Deferred Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Accrued postretirement benefits	$ 34	$ 38
Asbestos-related liabilities	102	127
Foreign tax credit carryovers	117	96
Operating, capital loss and interest carryovers	272	300
Other credit carryovers	18	18
Accrued liabilities	67	65
Pension liabilities	91	92
Operating lease liabilities	50
Other	27	43
Total deferred tax assets	778	779
Deferred tax liabilities:
Property, plant, and equipment	112	97
Intangibles and deferred software	86	92
Operating lease right-of-use assets	50
Total deferred tax liabilities	248	189
Valuation allowance	(462)	(495)
Net deferred taxes	68	95
Deferred taxes are included in the Consolidated Balance Sheets:
Other assets	178	191
Deferred taxes	(110)	(96)
Net deferred taxes	68	$ 95
Deferred tax benefit associated with reduction in valuation allowance	33
Deferred tax benefit associated with reduction in valuation allowance allocated to income from continuing operations	19
Deferred tax benefit associated with reduction in valuation allowance allocated to other comprehensive income	$ 14

Income Taxes - Tax Cuts and Jobs Act ("Act") (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes
Statutory U.S. Federal tax rate (as a percent)	21.00%	21.00%	35.00%
Provisional amount recorded related to the remeasurement of the net deferred tax assets			$ 162
Provisional offset amount recorded related to the remeasurement of the net deferred tax assets			(162)
Benefit for the reduction of a deferred tax liability related to an indefinite lived intangible asset			11
Provisional amount expected to be offset by available foreign tax credits		$ 314	331
Provisional amount expected to be offset by available foreign tax credits primarily attributable to state taxes		2	$ 2
Change to income tax expense due to impact of foreign tax credits		0
Adjustment of provisional amount of transition tax		$ 17

Income Taxes - Possible Changes and Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reasonably possible change in unrecognized tax benefits
Foreign tax credit carryovers	$ 117	$ 96
Unused foreign tax credits expiring in 2020 through 2029	81
Unused foreign tax credits carried over indefinitely	36
Operating and capital loss carryforwards with indefinite life	166
Operating and capital loss carryforwards expire between 2020 and 2039	106
Unused research tax credits expiring from 2020 to 2038	17
Reconciliation of the Company's total gross unrecognized tax benefits
Balance at beginning of the period	87	79	$ 74
Additions and reductions for tax positions of prior years	16		1
Additions and reductions for tax positions of prior years		(4)
Additions based on tax positions related to the current year	12	15	17
Reduction due to lapse of the applicable statute of limitations			(7)
Reductions due to settlements	(16)		(9)
Foreign currency translation		(3)
Foreign currency translation			3
Balance at ending of the period	99	87	79
Unrecognized tax benefits, which if recognized, would impact the Company's effective income tax rate	86	78	72
Accrued interest and penalties	11	10	8
Interest and penalties included in tax expense	$ 1	$ 2	$ (15)
Period during which unrecognized tax benefits are reasonably possible of being settled as a result of audit settlements or statute expirations	12 months
Maximum
Reconciliation of the Company's total gross unrecognized tax benefits
Reasonably possible decrease in unrecognized tax benefits related to audit settlements or statute expirations	$ 6

Debt (Details) $ / shares in Units, € in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2019 EUR (€)	Dec. 31, 2019 USD ($) item agreement	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2021 item	Jun. 30, 2021 item	Dec. 31, 2019 EUR (€) item	Dec. 31, 2019 USD ($) item $ / shares	Jul. 31, 2019 EUR (€)	Dec. 31, 2018 EUR (€)	Dec. 31, 2018 USD ($)
Debt Instrument
Total long-term debt								$ 5,484			$ 5,214
Less amounts due within one year								49			33
Long-term debt								$ 5,435			5,181
Number financial maintenance covenants \| agreement		1
Maximum Leverage Ratio may increase \| item		0.5
Net proceeds, after deducting debt issuance costs		$ 4,265	$ 2,511	$ 1,458
Additional interest charges for related party fees		5
Maximum
Debt Instrument
Leverage Ratio \| item							5.0	5.0
Maximum Borrowing Capacity								$ 3,000
Maximum \| Forecast
Debt Instrument
Leverage Ratio \| item					4.50	4.75
Prior Agreement
Debt Instrument
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees		$ 4
Secured Credit Agreement
Debt Instrument
Unused Credit								$ 1,500
Weighted average interest rate (as a percent)							3.41%	3.41%
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%
Term Loan A
Debt Instrument
Total long-term debt								$ 1,477
Face Value								1,500
Net proceeds, after deducting debt issuance costs		$ 1,477
Term Loan A \| Prior Agreement
Debt Instrument
Total long-term debt											897
Other secured debt
Debt Instrument
Total long-term debt								$ 333			404
Senior Notes 6.75%, due 2020 (500 million EUR)
Debt Instrument
Total long-term debt	€ 250						€ 500		€ 250		570
Interest rate, stated percentage	6.75%						6.75%	6.75%
Senior Notes 4.875%, due 2021 (118 million EUR at December 31, 2019 and 330 million EUR at December 31, 2018)
Debt Instrument
Total long-term debt	€ 212						€ 118	$ 132		€ 330	376
Interest rate, stated percentage	4.875%						4.875%	4.875%
Fair values of fixed rate debt obligations
Principal Amount								$ 132
Indicated Market Price (in dollars per share) \| $ / shares								$ 106.10
Fair Value								$ 140
Senior Notes 5.00%, due 2022
Debt Instrument
Total long-term debt								$ 497			497
Interest rate, stated percentage							5.00%	5.00%
Fair values of fixed rate debt obligations
Principal Amount								$ 500
Indicated Market Price (in dollars per share) \| $ / shares								$ 103.86
Fair Value								$ 519
Senior Notes 4.00%, due 2023
Debt Instrument
Total long-term debt								$ 307			306
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								$ 101.45
Fair Value								$ 314
Senior Notes 5.875%, due 2023
Debt Instrument
Total long-term debt								$ 689			688
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								$ 107.11
Fair Value								$ 750
Senior Notes 3.125%, due 2024 (725 million EUR)
Debt Instrument
Total long-term debt							€ 725	$ 824			825
Interest rate, stated percentage							3.125%	3.125%
Fair values of fixed rate debt obligations
Principal Amount								$ 812
Indicated Market Price (in dollars per share) \| $ / shares								$ 106.72
Fair Value								$ 867
Senior Notes 6.375%, due 2025
Debt Instrument
Total long-term debt								$ 295			295
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								$ 109.67
Fair Value								$ 329
Senior Notes, 5.375% due 2025
Debt Instrument
Total long-term debt								$ 297			297
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								$ 104.09
Fair Value								$ 312
Senior Notes 2.875%, due 2025 (500 million EUR)
Debt Instrument
Total long-term debt	€ 500						€ 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								$ 560
Indicated Market Price (in dollars per share) \| $ / shares								$ 103.85
Fair Value								$ 582
Finance leases
Debt Instrument
Total long-term debt								70			45
Other
Debt Instrument
Total long-term debt								11			$ 14
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
Senior Notes 6.75%, due 2020 and Senior Notes 4.875%, due 2021
Debt Instrument
Additional interest charges for note repurchase premiums and write-off of unamortized finance fees		$ 56

Debt - Annual Maturities of Long-Term Debt (Details) $ in Millions	Dec. 31, 2019 USD ($)
Annual maturities of long-term debt through 2019
2020	$ 49
2021	537
2022	583
2023	1,080
2024	2,063
2025 and thereafter	$ 1,172

Contingencies - Asbestos (Details)	12 Months Ended
Contingencies - Asbestos (Details)	Dec. 31, 2019 USD ($) lawsuit	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 1993 USD ($)
Contingencies
Sale of goods containing asbestos from 1948 to 1958	$ 40,000,000
Approximate number of claims disposed \| lawsuit	401,200
Average indemnity payment per claim	$ 10,200
Claims disposed \| lawsuit	150
Asbestos-related cash payments	$ 151,000,000	$ 105,000,000	$ 110,000,000
Cash payments per claim disposed including legal costs	129,000	86,000	83,000
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	602,000,000
Asbestos related charges	$ 35,000,000	$ 125,000,000	$ 0

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	$ (1,968)
Other comprehensive income (loss)	107	$ (150)	$ 351
Balance at end of the period	(1,843)	(1,968)
Net Effect of Exchange Rate Fluctuations
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(889)	(723)
Change before reclassifications	76	(166)
Other comprehensive income (loss)	76	(166)
Balance at end of the period	(813)	(889)	(723)
Change in Certain Derivative Instruments
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(18)	(12)
Change before reclassifications	(74)	(4)
Amounts reclassified from accumulated other comprehensive income	75	(1)
Translation effect	1	(1)
Tax effect	2
Other comprehensive income (loss)	4	(6)
Balance at end of the period	(14)	(18)	(12)
Employee Benefit Plans
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,061)	(1,091)
Change before reclassifications	(21)	(114)
Amounts reclassified from accumulated other comprehensive income	70	131
Translation effect	(7)	16
Tax effect	3	(3)
Other comprehensive income (loss)	45	30
Balance at end of the period	(1,016)	(1,061)	(1,091)
Accumulated Other Comprehensive Loss.
Increase (Decrease) Accumulated Other Comprehensive Loss, Net of Tax
Balance at beginning of the period	(1,968)	(1,826)
Change before reclassifications	(19)	(284)
Amounts reclassified from accumulated other comprehensive income	145	130
Translation effect	(6)	15
Tax effect	5	(3)
Other comprehensive income (loss)	125	(142)
Balance at end of the period	$ (1,843)	$ (1,968)	$ (1,826)

Stock Based Compensation - Restricted share and Restricted Share Units and Performance Vested Restricted Share Units (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) $ / shares shares
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Shares issued	1,700,000	800,000	300,000
Unrecognized compensation cost of unvested stock options, restricted shares, restricted share units and performance vested restricted share units (in dollars) \| $	$ 10
Weighted average period during which unrecognized compensation costs would be recognized	2 years
Restricted Shares and Restricted Share Units
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Nonvested, beginning balance (in shares)	1,053,000
Granted (in shares)	580,000
Vested (in shares)	(408,000)
Forfeited (in shares)	(111,000)
Nonvested, ending balance (in shares)	1,114,000	1,053,000
Nonvested, Beginning balance (in dollars per share) \| $ / shares	$ 20.29
Granted (in dollars per share) \| $ / shares	18.85	$ 22.05	$ 20.01
Vested (in dollars per share) \| $ / shares	19.92
Forfeited (in dollars per share) \| $ / shares	20.20
Nonvested, Closing balance (in dollars per share) \| $ / shares	$ 19.69	$ 20.29
Total fair value of shares issued (in dollars) \| $	$ 8	$ 10	$ 5
Restricted Shares and Restricted Share Units \| Shares granted to employees after March 21, 2005 \| Minimum
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Fair value of restricted shares, amortization period	1 year
Restricted Shares and Restricted Share Units \| Shares granted to employees after March 21, 2005 \| Maximum
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Fair value of restricted shares, amortization period	4 years
Restricted Share Units \| Shares granted to directors after 2007
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Shares of common stock granted vesting period	1 year
Restricted Share Units \| Shares granted to employees after 2010
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of shares vested per year beginning on first anniversary	25.00%
Common stock distribution ratio	1
Performance Vested Restricted Share Units
Restricted share and Restricted Share Units and Performance Vested Restricted Share Units
Nonvested, beginning balance (in shares)	1,632,000
Granted (in shares)	1,389,000
Vested (in shares)	(1,336,000)
Forfeited (in shares)	(126,000)
Nonvested, ending balance (in shares)	1,559,000	1,632,000
Nonvested, Beginning balance (in dollars per share) \| $ / shares	$ 18.48
Granted (in dollars per share) \| $ / shares	17.64	$ 19.73	$ 19.57
Vested (in dollars per share) \| $ / shares	15.11
Forfeited (in dollars per share) \| $ / shares	20.84
Nonvested, Closing balance (in dollars per share) \| $ / shares	$ 20.20	$ 18.48
Total fair value of shares vested (in dollars) \| $	$ 20
Shares of common stock holder may receive, per unit of vested units	2
Shares issued	1,336,000

Other Expense, net (Details) - USD ($) $ in Millions	12 Months Ended
Other Expense, net (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Expense (Income), net
Impairment of goodwill (see Note 6)	$ 595
Restructuring, asset impairment and other charges	89	$ 97	$ 77
Charge for asbestos related costs	35	125	0
Pension settlement charges	26	74	218
Charge for other asset impairments	22
Intangible amortization expense	41	40	41
Strategic transaction and corporate modernization costs	31
Gain on sale of equity investment	(107)
Royalty income	(12)	(13)	(11)
Foreign currency exchange loss	5	6	5
Non-income tax gain		(19)
Other expense (income, including gains on asset sales), net	4	(41)	(7)
Other Expense (Income), net	729	269	$ 323
Remaining carrying value of impaired assets	5
Europe
Other Expense (Income), net
Proceeds from Sale of Productive Assets		11
Americas
Other Expense (Income), net
Proceeds from Sale of Productive Assets		$ 11
Argentina and China
Other Expense (Income), net
Restructuring, asset impairment and other charges	$ 22

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net earnings (loss) attributable to the Company	$ (400)	$ 257	$ 180
Denominator (in thousands):
Denominator for basic earnings per share - weighted average shares outstanding (in shares)	155,250,000	160,125,000	162,737,000
Effect of dilutive securities:
Stock options and other (in shares)		1,963,000	1,910,000
Denominator for diluted earnings per share - adjusted weighted average shares outstanding (in shares)	155,250,000	162,088,000	164,647,000
Basic earnings per share:
Earnings (loss) from continuing operations (in dollars per share)	$ (2.56)	$ 0.90	$ 1.12
Gain (loss) from discontinued operations (in dollars per share)	(0.02)	0.71	(0.01)
Net earnings (loss) (in dollars per share)	(2.58)	1.61	1.11
Diluted earnings per share:
Earnings (loss) from continuing operations (in dollars per share)	(2.56)	0.89	1.11
Gain (loss) from discontinued operations (in dollars per share)	(0.02)	0.70	(0.01)
Net earnings (loss) (in dollars per share)	$ (2.58)	$ 1.59	$ 1.10
Weighted average shares of common stock attributable to options not included in diluted earnings per share (in shares)	2,086,004	1,726,275	1,522,928

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Decrease (increase) in current assets:
Receivables - change in factoring	$ (61)	$ 146	$ 136
Receivables - all other changes	13	(103)	(173)
Inventories	(26)	(29)	2
Prepaid expenses and other	13	(58)	(10)
Increase (decrease) in current liabilities:
Accounts payable	(62)	67	69
Accrued liabilities	(30)	(16)	(49)
Salaries and wages	(25)	(1)	(21)
U.S. and foreign income taxes	2	9	(43)
Changes in components of working capital, total	(176)	15	(89)
Amount of receivables sold	539	600	454
Interest paid in cash	303	236	261
Income taxes paid in cash
U.S. Income taxes paid in cash	2	11	4
Non-U.S. Income taxes paid in cash	101	97	127
Total income taxes paid in cash	103	108	131
Cash interest included in note repurchase premiums	$ 54	$ 0	$ 18

Discontinued Operations (Details) $ in Millions			12 Months Ended
Discontinued Operations (Details) $ in Millions	Dec. 06, 2018 Plant	Jul. 31, 2017 USD ($)	Dec. 31, 2019 USD ($) subsidiary	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Subsidiaries
Gain (loss) from discontinued operations			$ (3)	$ 113	$ (3)
Discontinued Operations, Disposed of by Sale \| OI European Group B.V. ("OIEG")
Subsidiaries
Litigation settlement amount		$ 115
Gain (loss) from discontinued operations				115
Disposed Venezuelan subsidiaries
Subsidiaries
Expropriated plants \| Plant	2
Gain (loss) from discontinued operations			$ (3)	$ 113	$ (3)
Number of subsidiaries involved in arbitration \| subsidiary			2

- Definition

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

Business Combinations (Details) $ in Millions		12 Months Ended
Business Combinations (Details) $ in Millions	Jun. 28, 2009 USD ($) Plant T	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Measurement period adjustments
Cash paid for acquisition		$ 190	$ 123	$ 39
Nueva Fbrica Nacional de Vidrio, S. de R.L. de C.V. ("Nueva Fanal")
Measurement period adjustments
Cash paid for acquisition	$ 190
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) - Nueva Fbrica Nacional de Vidrio, S. de R.L. de C.V. ("Nueva Fanal") - USD ($) $ in Millions	Dec. 31, 2019	Jun. 28, 2019
Fair values of the assets and liabilities assumed
Accounts receivable	$ 42	$ 42
Inventory	17	17
Goodwill.	21	0
Intangibles	3	35
Net property, plant, and equipment	161	129
Total assets acquired	244	223
Accounts payable	26	25
Accrued liabilities	3	3
Deferred tax liabilities	25	0
Net assets acquired	190	$ 195
Adjustment
Fair values of the assets and liabilities assumed
Goodwill.	21
Intangibles	(32)
Net property, plant, and equipment	32
Total assets acquired	21
Accounts payable	1
Deferred tax liabilities	25
Net assets acquired	$ (5)

Subsequent Events (Details) - Subsequent Events - Paddock $ in Millions	Jan. 06, 2020 USD ($)
Subsequent Events
Cash	$ 47
Liability from deconsolidation	471
Transactional loss	14
Deconsolidation investing outflow	$ 47

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (CONSOLIDATED) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Additions
Statutory U.S. Federal tax rate (as a percent)	21.00%	21.00%	35.00%
Change in valuation allowance: U.S. tax law change		$ 2	$ 162
Expired foreign tax credits			327
Allowances for losses and discounts on receivables
Reserves deducted from assets in the balance sheets:
Balance at beginning of period	$ 35	34	32
Additions
Charged to costs and expenses/charged to income	15	13	12
Other	(2)	(4)	(2)
Deductions	(16)	(8)	(8)
Balance at end of period	32	35	34
Valuation allowance on net deferred tax assets
Reserves deducted from assets in the balance sheets:
Balance at beginning of period	495	543	1,094
Additions
Charged to costs and expenses/charged to income	(31)	(20)	15
Other	(14)	(7)	(79)
Foreign currency translation	(1)	(9)	4
Other	13	(12)	(491)
Balance at end of period	$ 462	$ 495	$ 543

Significant Accounting Policies - Equity Method Investments and Stock-Based Compensation (Details) - country	Dec. 26, 2019	Dec. 31, 2019
Equity Method Investments
Stock distributed to parent (as a percent)	100.00%
Number of countries in which the entity operates		23
Maximum
Equity Method Investments
General ownership percentage for equity method investments		50.00%
Minimum
Equity Method Investments
General ownership percentage for equity method investments		20.00%

Significant Accounting Policies - Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2019
Factory machinery and equipment \| Minimum
Property, Plant and Equipment
Estimated useful lives	5 years
Factory machinery and equipment \| Maximum
Property, Plant and Equipment
Estimated useful lives	25 years
Glass-melting furnaces and forming machines \| Minimum
Property, Plant and Equipment
Estimated useful lives	7 years
Glass-melting furnaces and forming machines \| Maximum
Property, Plant and Equipment
Estimated useful lives	15 years
Buildings and building equipment \| Minimum
Property, Plant and Equipment
Estimated useful lives	10 years
Buildings and building equipment \| Maximum
Property, Plant and Equipment
Estimated useful lives	50 years