ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934
|
A
|
(
|
IRS employer identification number
|
Title of Each Class
|
Trading Symbol(s)
|
Name of Each Exchange on Which Registered
|
|
|
|
|
Accelerated filer ☐
|
Non-accelerated filer ☐
|
Small reporting company
|
Emerging growth company
|
Page
|
||
PART I
|
||
3
|
||
5
|
||
8
|
||
8
|
||
8
|
||
8
|
||
PART II
|
||
9
|
||
9
|
||
10
|
||
15
|
||
16
|
||
17
|
||
17
|
||
17
|
||
17
|
||
PART III
|
||
18
|
||
18
|
||
18
|
||
18
|
||
18
|
||
PART IV
|
||
19
|
||
19
|
Geographic Region
|
Total Facilities
|
Leased Facilities
|
||
US and Canada
|
107
|
19
|
||
Europe
|
119
|
23
|
||
Rest of world
|
41
|
24
|
Fiscal Period
|
Total Number of
Shares Purchased
|
Average Price
Paid Per Share
|
Total Number of Shares
Purchased as Part of Publicly
Announced Programs
|
Dollar Value of Shares that
May Yet be Purchased Under
the Program (in millions) (a)
|
||||||||||||
July
|
132,000
|
$
|
55.00
|
132,000
|
$
|
407
|
||||||||||
August
|
716,963
|
57.13
|
716,963
|
366
|
||||||||||||
September
|
440,850
|
54.54
|
440,850
|
342
|
||||||||||||
Total
|
1,289,813
|
$
|
56.02
|
1,289,813
|
$
|
342
|
(a) |
All open market purchases during the quarter were made under the fiscal 2022 authorization from our board of directors to purchase up to $1 billion of shares of common stock. (See
Note 9. Stockholders' Equity and Note 12. Subsequent Events)
|
Consolidated Overview
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Net sales
|
$
|
14,495
|
$
|
13,850
|
$
|
645
|
5
|
%
|
||||||||
Cost of goods sold
|
12,123
|
11,352
|
771
|
7
|
%
|
|||||||||||
Other operating expenses
|
1,130
|
1,206
|
(76
|
)
|
(6
|
)%
|
||||||||||
Operating income
|
$
|
1,242
|
$
|
1,292
|
$
|
(50
|
)
|
(4
|
)%
|
Consumer Packaging International
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Net sales
|
$
|
4,293
|
$
|
4,242
|
$
|
51
|
1
|
%
|
||||||||
Operating income
|
$
|
346
|
$
|
317
|
$
|
29
|
9
|
%
|
Consumer Packaging North America
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Net sales
|
$
|
3,548
|
$
|
3,141
|
$
|
407
|
13
|
%
|
||||||||
Operating income
|
$
|
338
|
$
|
276
|
$
|
62
|
22
|
%
|
Engineered Materials
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Net sales
|
$
|
3,488
|
$
|
3,309
|
$
|
179
|
5
|
%
|
||||||||
Operating income
|
$
|
328
|
$
|
301
|
$
|
27
|
9
|
%
|
Health, Hygiene & Specialties
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Net sales
|
$
|
3,166
|
$
|
3,158
|
$
|
8
|
0
|
%
|
||||||||
Operating income
|
$
|
230
|
$
|
398
|
$
|
(168
|
)
|
(42
|
)%
|
Other expense, net
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Other expense, net
|
$
|
22
|
$
|
51
|
$
|
(29
|
)
|
(57
|
)%
|
Interest expense, net
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Interest expense, net
|
$
|
286
|
$
|
336
|
$
|
(50
|
)
|
(15
|
)%
|
Income tax expense
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Income tax expense
|
$
|
168
|
$
|
172
|
$
|
(4
|
)
|
(2
|
)%
|
Comprehensive Income
|
Fiscal Year
|
|||||||||||||||
2022
|
2021
|
$ Change
|
% Change
|
|||||||||||||
Comprehensive Income
|
$
|
659
|
$
|
988
|
$
|
(329
|
)
|
(33
|
)%
|
Fiscal years ended
|
||||||||
October 1,
2022
|
October 2,
2021
|
|||||||
Cash flow from operating activities
|
$
|
1,563
|
$
|
1,580
|
||||
Additions to property, plant and equipment, net
|
(687
|
)
|
(676
|
)
|
||||
Free cash flow
|
$
|
876
|
$
|
904
|
Year Ended
|
||||
October 1, 2022
|
||||
Net sales
|
$
|
7,654
|
||
Gross profit
|
1,581
|
|||
Earnings from continuing operations
|
506
|
|||
Net income (a)
|
$
|
506
|
October 1, 2022
|
October 2, 2021
|
|||||||
Assets
|
||||||||
Current assets
|
$
|
2,432
|
$
|
2,293
|
||||
Noncurrent assets
|
6,137
|
5,979
|
||||||
Liabilities
|
||||||||
Current liabilities
|
$
|
1,536
|
$
|
1,533
|
||||
Intercompany payable
|
634
|
629
|
||||||
Noncurrent liabilities
|
10,630
|
11,083
|
Page
|
|
20
|
|
22
|
|
23
|
|
24
|
|
25
|
|
26
|
1. |
Financial Statements
|
2. |
Financial Statement Schedules
|
3. |
Exhibits
|
United Kingdom Defined Benefit Pension Obligation
|
||
Description of the Matter
|
At October 1, 2022 the aggregate United Kingdom (UK) defined benefit pension obligation was $480 million and exceeded the fair value of pension plan assets, resulting
in an underfunded defined benefit pension obligation. As disclosed in Notes 1 and 7 to the consolidated financial statements, the Company recognizes the overfunded or underfunded status of its pension plans in the consolidated balance sheet.
The obligations for these plans are actuarially determined and affected by assumptions, including discount rates and mortality rates.
Auditing the UK defined benefit pension obligation is complex and required the involvement of our actuarial specialists due to the highly judgmental nature of
actuarial assumptions (e.g., discount rates and mortality rates) used in the measurement process. These assumptions have a significant effect on the projected benefit obligation.
|
|
How We Addressed the Matter in Our Audit
|
We obtained an understanding, evaluated the design and tested the operating effectiveness of controls that address the measurement and valuation of the UK defined
benefit pension obligation. This included management’s review of the UK defined benefit pension obligation calculations and the significant actuarial assumptions used by management.
To test the UK defined benefit pension obligation, we performed audit procedures that included, among others, evaluating the methodology used and the significant
actuarial assumptions described above. We involved our actuarial specialists to assist with our audit procedures. We compared the actuarial assumptions used by management to historical trends and evaluated the change in the defined benefit
pension obligation from prior year due to the change in service cost, interest cost, actuarial gains and losses, benefit payments, contributions and other activities. In addition, we evaluated management’s methodology for determining the
discount rate that reflects the maturity and duration of the benefit payments and is used to measure the defined benefit pension obligation. As part of this assessment, we compared management’s selected discount rate to an independently
developed range of reasonable discount rates. To evaluate the mortality rate assumption, we assessed whether the information is consistent with publicly available information, and whether any market data adjusted for entity-specific factors
were applied.
|
Fiscal years ended
|
||||||||||||
October 1,
2022
|
October 2,
2021
|
September 26,
2020
|
||||||||||
Net sales
|
$
|
|
$
|
|
$
|
|
||||||
Costs and expenses:
|
||||||||||||
Cost of goods sold
|
|
|
|
|||||||||
Selling, general and administrative
|
|
|
|
|||||||||
Amortization of intangibles
|
|
|
|
|||||||||
Restructuring and transaction activities
|
|
|
|
|||||||||
Operating income
|
|
|
|
|||||||||
Other expense
|
|
|
|
|||||||||
Interest expense
|
|
|
|
|||||||||
Income before income taxes
|
|
|
|
|||||||||
Income tax expense
|
|
|
|
|||||||||
Net income
|
$
|
|
$
|
|
$
|
|
||||||
Net income per share (see Note 11):
|
||||||||||||
Basic
|
$
|
|
$
|
|
$
|
|
||||||
Diluted
|
$
|
|
$
|
|
$
|
|
Fiscal years ended
|
||||||||||||
October 1,
2022
|
October 2,
2021
|
September 26,
2020
|
||||||||||
Net income
|
$
|
|
$
|
|
$
|
|
||||||
Currency translation
|
(
|
)
|
|
|
||||||||
Pension and postretirement benefits
|
|
|
(
|
)
|
||||||||
Derivative instruments
|
|
|
(
|
)
|
||||||||
Other comprehensive (loss) income
|
(
|
)
|
|
(
|
)
|
|||||||
Comprehensive income
|
$
|
|
$
|
|
$
|
|
October 1,
2022
|
October 2,
2021
|
|||||||
Assets
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
|
$
|
|
||||
Accounts receivable
|
|
|
||||||
Inventories
|
|
|
||||||
Prepaid expenses and other current assets
|
|
|
||||||
Total current assets
|
|
|
||||||
Property, plant and equipment
|
|
|
||||||
Goodwill and intangible assets
|
|
|
||||||
Right-of-use assets
|
|
|
||||||
Other assets
|
|
|
||||||
Total assets
|
$
|
|
$
|
|
||||
Liabilities and Stockholders’ Equity
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
|
$
|
|
||||
Accrued employee costs
|
|
|
||||||
Other current liabilities
|
|
|
||||||
Current portion of long-term debt
|
|
|
||||||
Total current liabilities
|
|
|
||||||
Long-term debt
|
|
|
||||||
Deferred income taxes
|
|
|
||||||
Employee benefit obligations
|
|
|
||||||
Operating lease liabilities
|
|
|
||||||
Other long-term liabilities
|
|
|
||||||
Total liabilities
|
|
|
||||||
Stockholders’ equity:
|
||||||||
Common stock (
|
|
|
||||||
Additional paid-in capital
|
|
|
||||||
Retained earnings
|
|
|
||||||
Accumulated other comprehensive loss
|
(
|
)
|
(
|
)
|
||||
Total stockholders’ equity
|
|
|
||||||
Total liabilities and stockholders’ equity
|
$
|
|
$
|
|
Fiscal years ended
|
||||||||||||
October 1,
2022
|
October 2,
2021
|
September 26,
2020
|
||||||||||
Cash Flows from Operating Activities:
|
||||||||||||
Net income
|
$
|
|
$
|
|
$
|
|
||||||
Adjustments to reconcile net cash from operating activities:
|
||||||||||||
Depreciation
|
|
|
|
|||||||||
Amortization of intangibles
|
|
|
|
|||||||||
Non-cash interest expense
|
|
|
|
|||||||||
Share-based compensation expense
|
|
|
|
|||||||||
Deferred income tax
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Other non-cash operating activities, net
|
(
|
)
|
|
|
||||||||
Settlement of derivatives
|
|
|
|
|||||||||
Changes in operating assets and liabilities:
|
||||||||||||
Accounts receivable
|
(
|
)
|
(
|
)
|
|
|||||||
Inventories
|
(
|
)
|
(
|
)
|
|
|||||||
Prepaid expenses and other assets
|
|
(
|
)
|
(
|
)
|
|||||||
Accounts payable and other liabilities
|
(
|
)
|
|
|
||||||||
Net cash from operating activities
|
|
|
|
|||||||||
Cash Flows from Investing Activities:
|
||||||||||||
Additions to property, plant and equipment, net
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Divestiture of businesses
|
|
|
|
|||||||||
Acquisition of business and purchase price derivatives
|
|
|
(
|
)
|
||||||||
Settlement of net investment hedges
|
|
|
|
|||||||||
Net cash from investing activities
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Cash Flows from Financing Activities:
|
||||||||||||
Proceeds from long-term borrowings
|
|
|
|
|||||||||
Repayment of long-term borrowings
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Proceeds from issuance of common stock
|
|
|
|
|||||||||
Repurchase of common stock
|
(
|
)
|
|
|
||||||||
Debt financing costs
|
|
(
|
)
|
(
|
)
|
|||||||
Net cash from financing activities
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Effect of currency translation on cash
|
(
|
)
|
|
|
||||||||
Net change in cash and cash equivalents
|
|
|
|
|||||||||
Cash and cash equivalents at beginning of period
|
|
|
|
|||||||||
Cash and cash equivalents at end of period
|
$
|
|
$
|
|
$
|
|
Common Stock
|
Additional
Paid-in Capital
|
Accumulated Other
Comprehensive Loss
|
Retained
Earnings
|
Total
|
||||||||||||||||
Balance at September 28, 2019
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
|
|||||||||
Net income
|
|
|
|
|
|
|||||||||||||||
Other comprehensive loss
|
|
|
(
|
)
|
|
(
|
)
|
|||||||||||||
Share-based compensation
|
|
|
|
|
|
|||||||||||||||
Proceeds from issuance of common stock
|
|
|
|
|
|
|||||||||||||||
Acquisition(a)
|
|
|
|
|
|
|||||||||||||||
Adoption of ASC 842
|
|
|
|
(
|
)
|
(
|
)
|
|||||||||||||
Balance at September 26, 2020
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
|
|||||||||
Net income
|
|
|
|
|
|
|||||||||||||||
Other comprehensive income
|
|
|
|
|
|
|||||||||||||||
Share-based compensation
|
|
|
|
|
|
|||||||||||||||
Proceeds from issuance of common stock
|
|
|
|
|
|
|||||||||||||||
Balance at October 2, 2021
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
|
|||||||||
Net income
|
|
|
|
|
|
|||||||||||||||
Other comprehensive loss
|
|
|
(
|
)
|
|
(
|
)
|
|||||||||||||
Share-based compensation
|
|
|
|
|
|
|||||||||||||||
Proceeds from issuance of common stock
|
|
|
|
|
|
|||||||||||||||
Common stock repurchased and retired
|
|
(
|
)
|
|
(
|
)
|
(
|
)
|
||||||||||||
Balance at October 1, 2022
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
$
|
|
(a) |
|
Inventories:
|
2022
|
2021
|
||||||
Finished goods
|
$
|
|
$
|
|
||||
Raw materials
|
|
|
||||||
$
|
|
$
|
|
Property, plant and equipment:
|
2022
|
2021
|
||||||
Land, buildings and improvements
|
$
|
|
$
|
|
||||
Equipment and construction in progress
|
|
|
||||||
|
|
|||||||
Less accumulated depreciation
|
(
|
)
|
(
|
)
|
||||
$
|
|
$
|
|
Consumer Packaging
International
|
Consumer Packaging
North America
|
Engineered
Materials
|
Health, Hygiene
& Specialties
|
Total
|
||||||||||||||||
Balance as of fiscal 2020
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||
Foreign currency translation adjustment
|
|
|
(
|
)
|
|
|
||||||||||||||
Dispositions
|
(
|
)
|
|
|
|
(
|
)
|
|||||||||||||
Balance as of fiscal 2021
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||
Foreign currency translation adjustment
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||||||
Dispositions
|
(
|
)
|
|
|
|
(
|
)
|
|||||||||||||
Balance as of fiscal 2022
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
Customer
Relationships
|
Trademarks
|
Other
Intangibles
|
Accumulated
Amortization
|
Total
|
||||||||||||||||
Balance as of fiscal 2020
|
$
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
|||||||||
Foreign currency translation adjustment
|
|
|
(
|
)
|
(
|
)
|
|
|||||||||||||
Amortization expense
|
—
|
—
|
—
|
(
|
)
|
(
|
)
|
|||||||||||||
Netting of fully amortized intangibles
|
(
|
)
|
(
|
)
|
(
|
)
|
|
|
||||||||||||
Balance as of fiscal 2021
|
$
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
|||||||||
Foreign currency translation adjustment
|
(
|
)
|
(
|
)
|
(
|
)
|
|
(
|
)
|
|||||||||||
Amortization expense
|
—
|
—
|
—
|
(
|
)
|
(
|
)
|
|||||||||||||
Additions
|
|
|
|
—
|
|
|||||||||||||||
Balance as of fiscal 2022
|
$
|
|
$
|
|
$
|
|
$
|
(
|
)
|
$
|
|
Fiscal Year
|
Operating Leases
|
Finance Leases
|
||||||
2023
|
$
|
|
$
|
|
||||
2024
|
|
|
||||||
2025
|
|
|
||||||
2026
|
|
|
||||||
2027
|
|
|
||||||
Thereafter
|
|
|
||||||
Total lease payments
|
|
|
||||||
Less: Interest
|
(
|
)
|
(
|
)
|
||||
Present value of lease liabilities
|
$
|
|
$
|
|
Currency
Translation
|
Defined Benefit
Pension and Retiree
Health Benefit Plans
|
Derivative
Instruments
|
Accumulated Other
Comprehensive Loss
|
|||||||||||||
Balance as of fiscal 2019
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
||||
Other comprehensive income (loss)
|
|
|
(
|
)
|
(
|
)
|
||||||||||
Net amount reclassified from accumulated other comprehensive income (loss)
|
|
(
|
)
|
|
(
|
)
|
||||||||||
Balance as of fiscal 2020
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
||||
Other comprehensive income (loss)
|
|
(
|
)
|
|
|
|||||||||||
Net amount reclassified from accumulated other comprehensive income (loss)
|
|
|
|
|
||||||||||||
Balance as of fiscal 2021
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
||||
Other comprehensive income (loss)
|
(
|
)
|
|
|
(
|
)
|
||||||||||
Net amount reclassified from accumulated other comprehensive income (loss)
|
|
|
|
|
||||||||||||
Balance as of fiscal 2022
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
|
$
|
(
|
)
|
Facility
|
Maturity Date
|
2022
|
2021
|
||||||
Term loan
|
|
$
|
|
$
|
|
||||
Revolving line of credit
|
|
|
|
||||||
|
|
|
|
||||||
|
|
|
|
||||||
|
|
|
|
||||||
|
|
|
|
||||||
|
|
|
|
||||||
|
|
|
|
||||||
|
|
|
|
||||||
|
|
|
|
||||||
Debt discounts and deferred fees
|
(
|
)
|
(
|
)
|
|||||
Finance leases and other
|
Various
|
|
|
||||||
Total long-term debt
|
|
|
|||||||
Current portion of long-term debt
|
(
|
)
|
(
|
)
|
|||||
Long-term debt, less current portion
|
$
|
|
$
|
|
(a) |
|
Fiscal Year
|
Maturities
|
||
2023
|
$
|
|
|
2024
|
|
||
2025
|
|
||
2026
|
|
||
2027
|
|
||
Thereafter
|
|
||
$
|
|
Derivative Instruments
|
Hedge Designation
|
Balance Sheet Location
|
2022
|
2021
|
||||||
Cross-currency swaps
|
Designated
|
Other assets
|
$
|
|
$
|
|
||||
Cross-currency swaps
|
Designated
|
Other long-term liabilities
|
|
|
||||||
Interest rate swaps
|
Designated
|
Other assets
|
|
|
||||||
Interest rate swaps
|
Designated
|
Other long-term liabilities
|
|
|
||||||
Interest rate swaps
|
Not designated
|
Other long-term liabilities
|
|
|
Derivative instruments
|
Statements of Income Location
|
2022
|
2021
|
2020
|
|||||||||
Cross-currency swaps
|
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
|||
Interest rate swaps
|
|
|
|
|
2022
|
||||||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
Impairment
|
||||||||||||||||
Indefinite lived trademarks
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||
Goodwill
|
|
|
|
|
|
|||||||||||||||
Definite lived intangible assets
|
|
|
|
|
|
|||||||||||||||
Property, plant and equipment
|
|
|
|
|
|
|||||||||||||||
Total
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
2021
|
||||||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
Impairment
|
||||||||||||||||
Indefinite lived trademarks
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||
Goodwill
|
|
|
|
|
|
|||||||||||||||
Definite lived intangible assets
|
|
|
|
|
|
|||||||||||||||
Property, plant and equipment
|
|
|
|
|
|
|||||||||||||||
Total
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
2020
|
||||||||||||||||||||
Level 1
|
Level 2
|
Level 3
|
Total
|
Impairment
|
||||||||||||||||
Indefinite lived trademarks
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||
Goodwill
|
|
|
|
|
|
|||||||||||||||
Definite lived intangible assets
|
|
|
|
|
|
|||||||||||||||
Property, plant and equipment
|
|
|
|
|
|
|||||||||||||||
Total
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
Leases
|
Classification
|
2022
|
2021
|
||||||
Operating leases:
|
|||||||||
Operating lease right-of-use assets
|
|
$
|
|
$
|
|
||||
Current operating lease liabilities
|
|
|
|
||||||
Noncurrent operating lease liabilities
|
|
|
|
||||||
Finance leases:
|
|||||||||
Finance lease right-of-use assets
|
|
$
|
|
$
|
|
||||
Current finance lease liabilities
|
|
|
|
||||||
Noncurrent finance lease liabilities
|
|
|
|
Lease Type
|
Cash Flow Classification
|
Lease Expense Category
|
2022
|
2021
|
||||||
Operating leases
|
Operating cash flows
|
Lease cost
|
$
|
|
$
|
|
||||
Finance leases
|
Operating cash flows
|
Interest expense
|
|
|
||||||
Finance leases
|
Financing cash flows
|
-
|
|
|
||||||
Finance leases
|
-
|
Amortization of right-of-use assets
|
|
|
2022
|
2021
|
|||||||
Weighted-average remaining lease term - operating leases
|
|
|
||||||
Weighted-average remaining lease term - finance leases
|
|
|
||||||
Weighted-average discount rate - operating leases
|
|
%
|
|
%
|
||||
Weighted-average discount rate - finance leases
|
|
%
|
|
%
|
2022
|
2021
|
2020
|
||||||||||
Current
|
||||||||||||
U.S.
|
||||||||||||
Federal
|
$
|
|
$
|
|
$
|
|
||||||
State
|
|
|
|
|||||||||
Non-U.S.
|
|
|
|
|||||||||
Total current
|
|
|
|
|||||||||
Deferred:
|
||||||||||||
U.S.
|
||||||||||||
Federal
|
|
|
(
|
)
|
||||||||
State
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Non-U.S.
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Total deferred
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Expense for income taxes
|
$
|
|
$
|
|
$
|
|
2022
|
2021
|
2020
|
||||||||||
U.S. Federal income tax expense at the statutory rate
|
$
|
|
$
|
|
$
|
|
||||||
Adjustments to reconcile to the income tax provision:
|
||||||||||||
U.S. state income tax expense
|
|
|
|
|||||||||
Federal and state credits
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Share-based compensation
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Tax law changes
|
(
|
)
|
|
|
||||||||
Withholding taxes
|
|
|
|
|||||||||
Changes in foreign valuation allowance
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Foreign income taxed in the U.S.
|
|
|
|
|||||||||
Rate differences between U.S. and foreign
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Sale of subsidiary
|
|
|
|
|||||||||
Permanent foreign currency differences
|
|
(
|
)
|
|
||||||||
Other
|
(
|
)
|
(
|
)
|
|
|||||||
Expense for income taxes
|
$
|
|
$
|
|
$
|
|
2022
|
2021
|
|||||||
Deferred tax assets:
|
||||||||
Accrued liabilities and reserves
|
$
|
|
$
|
|
||||
Inventories
|
|
|
||||||
Net operating loss carryforward
|
|
|
||||||
Interest expense carryforward
|
|
|
||||||
Derivatives
|
|
|
||||||
Lease liability
|
|
|
||||||
Research and development credit carryforward
|
|
|
||||||
Federal and state tax credits
|
|
|
||||||
Other
|
|
|
||||||
Total deferred tax assets
|
|
|
||||||
Valuation allowance
|
(
|
)
|
(
|
)
|
||||
Total deferred tax assets, net of valuation allowance
|
|
|
||||||
Deferred tax liabilities:
|
||||||||
Property, plant and equipment
|
|
|
||||||
Intangible assets
|
|
|
||||||
Derivatives
|
|
|
||||||
Leased asset
|
|
|
||||||
Other
|
|
|
||||||
Total deferred tax liabilities
|
|
|
||||||
Net deferred tax liability
|
$
|
(
|
)
|
$
|
(
|
)
|
2022
|
2021
|
|||||||
Beginning unrecognized tax benefits
|
$
|
|
$
|
|
||||
Gross increases – tax positions in prior periods
|
|
|
||||||
Gross decreases - tax positions in prior periods
|
(
|
)
|
(
|
)
|
||||
Gross increases – current period tax positions
|
|
|
||||||
Settlements
|
(
|
)
|
(
|
)
|
||||
Lapse of statute of limitations
|
(
|
)
|
(
|
)
|
||||
Ending unrecognized tax benefits
|
$
|
|
$
|
|
2022
|
2021
|
|||||||||||||||||||||||||||||||
Change in Projected
Benefit Obligations (PBO)
|
North
America
|
UK
|
Mainland
Europe
|
Total
|
North
America
|
UK
|
Mainland
Europe
|
Total
|
||||||||||||||||||||||||
Beginning of period
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||||||||
Service cost
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Interest cost
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Currency
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|
|
|
|
||||||||||||||||||||
Actuarial loss (gain)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|
(
|
)
|
|||||||||||||||||
Benefit settlements
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Benefits paid
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||||||||||||
End of period
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
2022
|
2021
|
|||||||||||||||||||||||||||||||
Change in Fair
Value of Plan Assets
|
North
America
|
UK
|
Mainland
Europe
|
Total
|
North
America
|
UK
|
Mainland
Europe
|
Total
|
||||||||||||||||||||||||
Beginning of period
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||||||||
Currency
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|
|
|
|
||||||||||||||||||||
Return on assets
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
|
|
|
|
||||||||||||||||||||
Contributions
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||
Benefit settlements
|
|
|
(
|
)
|
(
|
)
|
(
|
)
|
|
(
|
)
|
(
|
)
|
|||||||||||||||||||
Benefits paid
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||||||||||||
End of period
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||||||||
Underfunded status
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
(Percentages)
|
2022
|
||||||||
North America
|
UK
|
Mainland Europe
|
|||||||
Weighted-average assumptions:
|
|||||||||
Discount rate for benefit obligation
|
|
|
|
||||||
Discount rate for net benefit cost
|
|
|
|
||||||
Expected return on plan assets for net benefit costs
|
|
|
|
(Percentages)
|
2021
|
||||||||
North America
|
UK
|
Mainland Europe
|
|||||||
Weighted-average assumptions:
|
|||||||||
Discount rate for benefit obligation
|
|
|
|
||||||
Discount rate for net benefit cost
|
|
|
|
||||||
Expected return on plan assets for net benefit costs
|
|
|
|
Fiscal 2022
Asset Category
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Cash and cash equivalents
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
U.S. large cap comingled equity funds
|
|
|
|
|
||||||||||||
U.S. mid cap equity mutual funds
|
|
|
|
|
||||||||||||
U.S. small cap equity & Corporate bond mutual funds
|
|
|
|
|
||||||||||||
International equity mutual funds
|
|
|
|
|
||||||||||||
Real estate equity investment funds
|
|
|
|
|
||||||||||||
Corporate bonds
|
|
|
|
|
||||||||||||
International fixed income funds
|
|
|
|
|
||||||||||||
International insurance policies
|
|
|
|
|
||||||||||||
Total
|
$
|
|
$
|
|
$
|
|
$
|
|
Fiscal 2021
Asset Category
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Cash and cash equivalents
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
U.S. large cap comingled equity funds
|
|
|
|
|
||||||||||||
U.S. mid cap equity mutual funds
|
|
|
|
|
||||||||||||
U.S. small cap equity & Corporate bond mutual funds
|
|
|
|
|
||||||||||||
International equity mutual funds
|
|
|
|
|
||||||||||||
Real estate equity investment funds
|
|
|
|
|
||||||||||||
Corporate bonds
|
|
|
|
|
||||||||||||
International fixed income funds
|
|
|
|
|
||||||||||||
International insurance policies
|
|
|
|
|
||||||||||||
Total
|
$
|
|
$
|
|
$
|
|
$
|
|
North America
|
UK
|
Mainland Europe
|
Total
|
|||||||||||||
2023
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||
2024
|
|
|
|
|
||||||||||||
2025
|
|
|
|
|
||||||||||||
2026
|
|
|
|
|
||||||||||||
2027
|
|
|
|
|
||||||||||||
2028-2032
|
|
|
|
|
2022
|
2021
|
2020
|
||||||||||
Service cost
|
$
|
|
$
|
|
$
|
|
||||||
Interest cost
|
|
|
|
|||||||||
Amortization of net actuarial loss
|
|
|
|
|||||||||
Expected return on plan assets
|
(
|
)
|
(
|
)
|
(
|
)
|
||||||
Net periodic benefit expense (income)
|
$
|
(
|
)
|
$
|
(
|
)
|
$
|
(
|
)
|
Asset Category
|
2022
|
2021
|
||||||
Equity securities and equity-like instruments
|
|
%
|
|
%
|
||||
Debt securities and debt-like
|
|
|
||||||
International insurance policies
|
|
|
||||||
Other
|
|
|
||||||
Total
|
|
%
|
|
%
|
2022
|
2021
|
2020
|
||||||||||
Consumer Packaging International
|
$
|
|
$
|
|
$
|
|
||||||
Consumer Packaging North America
|
|
|
|
|||||||||
Engineered Materials
|
|
(
|
)
|
|
||||||||
Health, Hygiene & Specialties
|
|
(
|
)
|
|
||||||||
Consolidated
|
$
|
|
$
|
|
$
|
|
Restructuring
|
||||||||||||||||||||
Employee Severance
and Benefits
|
Facility
Exit Costs
|
Non-cash
Impairment Charges
|
Transaction
Activities
|
Total
|
||||||||||||||||
Balance as of fiscal 2020
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||
Charges
|
|
|
|
|
|
|||||||||||||||
Non-cash asset impairment
|
|
|
(
|
)
|
|
(
|
)
|
|||||||||||||
Cash
|
(
|
)
|
(
|
)
|
|
(
|
)
|
(
|
)
|
|||||||||||
Balance as of fiscal 2021
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
||||||||||
Charges
|
|
|
|
|
|
|||||||||||||||
Cash
|
(
|
)
|
(
|
)
|
|
(
|
)
|
(
|
)
|
|||||||||||
Balance as of fiscal 2022
|
$
|
|
$
|
|
$
|
|
$
|
|
$
|
|
2022
|
2021
|
|||||||||||||||
Number of Shares
(in thousands)
|
Weighted Average
Exercise Price
|
Number of Shares
(in thousands)
|
Weighted Average
Exercise Price
|
|||||||||||||
Options outstanding, beginning of period
|
|
$
|
|
|
$
|
|
||||||||||
Options granted
|
|
|
|
|
||||||||||||
Options exercised
|
(
|
)
|
|
(
|
)
|
|
||||||||||
Options forfeited or cancelled
|
(
|
)
|
|
(
|
)
|
|
||||||||||
Options outstanding, end of period
|
|
$
|
|
|
$
|
|
||||||||||
Option price range at end of period
|
$
|
|
$
|
|
||||||||||||
Options exercisable at end of period
|
|
|
||||||||||||||
Weighted average fair value of options granted during period
|
$
|
|
$
|
|
2022
|
2021
|
2020
|
||||||||||
Risk-free interest rate
|
|
%
|
|
%
|
|
%
|
||||||
Dividend yield
|
|
%
|
|
%
|
|
%
|
||||||
Volatility factor
|
|
%
|
|
%
|
|
%
|
||||||
Expected option life
|
|
|
|
Intrinsic Value
of Outstanding
(in millions)
|
Weighted
Remaining
Contractual Life
|
Weighted
Exercise Price
|
Number
Exercisable
(in thousands)
|
Intrinsic Value
of Exercisable
(in millions)
|
Unrecognized
Compensation
(in millions)
|
Weighted
Recognition
Period
|
||||||||||||||
$
|
|
|
$
|
|
|
$
|
|
$
|
|
|
2022
|
2021
|
|||||||||||||||
Number of Shares
(in thousands)
|
Weighted Average
Grant Price
|
Number of Shares
(in thousands)
|
Weighted Average
Grant Price
|
|||||||||||||
Awards outstanding, beginning of period
|
|
$
|
|
|
$
|
|
||||||||||
Awards granted
|
|
|
|
|
||||||||||||
Awards vested
|
(
|
)
|
|
(
|
)
|
|
||||||||||
Awards forfeited or cancelled
|
(
|
)
|
|
(
|
)
|
|
||||||||||
Awards outstanding, end of period
|
|
$
|
|
|
$
|
|
2022
|
2021
|
2020
|
||||||||||
Net sales
|
||||||||||||
Consumer Packaging International
|
$
|
|
$
|
|
$
|
|
||||||
Consumer Packaging North America
|
|
|
|
|||||||||
Engineered Materials
|
|
|
|
|||||||||
Health, Hygiene & Specialties
|
|
|
|
|||||||||
Total
|
$
|
|
$
|
|
$
|
|
||||||
Operating income
|
||||||||||||
Consumer Packaging International
|
$
|
|
$
|
|
$
|
|
||||||
Consumer Packaging North America
|
|
|
|
|||||||||
Engineered Materials
|
|
|
|
|||||||||
Health, Hygiene & Specialties
|
|
|
|
|||||||||
Total
|
$
|
|
$
|
|
$
|
|
||||||
Depreciation and amortization
|
||||||||||||
Consumer Packaging International
|
$
|
|
$
|
|
$
|
|
||||||
Consumer Packaging North America
|
|
|
|
|||||||||
Engineered Materials
|
|
|
|
|||||||||
Health, Hygiene & Specialties
|
|
|
|
|||||||||
Total
|
$
|
|
$
|
|
$
|
|
2022
|
2021
|
|||||||
Total assets:
|
||||||||
Consumer Packaging International
|
$
|
|
$
|
|
||||
Consumer Packaging North America
|
|
|
||||||
Engineered Materials
|
|
|
||||||
Health, Hygiene & Specialties
|
|
|
||||||
Total assets
|
$
|
|
$
|
|
2022
|
2021
|
2020
|
||||||||||
Net sales:
|
||||||||||||
United States and Canada
|
$
|
|
$
|
|
$
|
|
||||||
Europe
|
|
|
|
|||||||||
Rest of world
|
|
|
|
|||||||||
Total net sales
|
$
|
|
$
|
|
$
|
|
2022
|
2021
|
|||||||
Long-lived assets:
|
||||||||
United States and Canada
|
$
|
|
$
|
|
||||
Europe
|
|
|
||||||
Rest of world
|
|
|
||||||
Total long-lived assets
|
$
|
|
$
|
|
(in percentages)
|
2022
|
2021
|
2020
|
|||||||||
Net sales:
|
||||||||||||
Packaging
|
|
%
|
|
%
|
|
%
|
||||||
Non-packaging
|
|
|
|
|||||||||
Consumer Packaging International
|
|
%
|
|
%
|
|
%
|
||||||
Rigid Open Top
|
|
%
|
|
%
|
|
%
|
||||||
Rigid Closed Top
|
|
|
|
|||||||||
Consumer Packaging North America
|
|
%
|
|
%
|
|
%
|
||||||
Core Films
|
|
%
|
|
%
|
|
%
|
||||||
Retail & Industrial
|
|
|
|
|||||||||
Engineered Materials
|
|
%
|
|
%
|
|
%
|
||||||
Health
|
|
%
|
|
%
|
|
%
|
||||||
Hygiene
|
|
|
|
|||||||||
Specialties
|
|
|
|
|||||||||
Health, Hygiene & Specialties
|
|
%
|
|
%
|
|
%
|
(in millions, except per share amounts)
|
2022
|
2021
|
2020
|
|||||||||
Numerator
|
||||||||||||
Consolidated net income
|
$
|
|
$
|
|
$
|
|
||||||
Denominator
|
||||||||||||
Weighted average common shares outstanding - basic
|
|
|
|
|||||||||
Dilutive shares
|
|
|
|
|||||||||
Weighted average common and common equivalent shares outstanding - diluted
|
|
|
|
|||||||||
Per common share earnings
|
||||||||||||
Basic
|
$
|
|
$
|
|
$
|
|
||||||
Diluted
|
$
|
|
$
|
|
$
|
|
Exhibit No
|
Description of Exhibit
|
||
Rule 2.7 Announcement, dated as of March 8, 2019 (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed on March
14, 2019).
|
|||
Co-Operation Agreement, dated as of March 8, 2019, by and among Berry Global Group, Inc., Berry Global International Holdings Limited and RPC Group
Plc (incorporated by reference to Exhibit 2.2 to the Company’s Current Report on Form 8-K filed on March 14, 2019).
|
|||
Amended and Restated Certificate of Incorporation of Berry Global Group, Inc., as amended through March 6, 2019 (incorporated by reference to Exhibit
3.1 to the Company’s Quarterly Report on Form 10-Q filed on May 2, 2019).
|
|||
Certificate of Amendment of the Amended and Restated Certificate of Incorporation of Berry Global Group, Inc., dated February 24, 2021 (incorporated
by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on February 25, 2021).
|
|||
Amended and Restated Bylaws of Berry Global Group, Inc., as amended and restated effective as of February 24, 2021 (incorporated by reference to
Exhibit 3.2 to the Company’s Current Report on Form 8-K filed on February 25, 2021).
|
|||
Form of common stock certificate of Berry Plastics Group, Inc. (incorporated by reference to Exhibit 4.27 of Amendment No. 5 to the Company’s
Registration Statement on Form S-1 filed on September 19, 2012).
|
|||
Indenture, by and between Berry Global Escrow Corporation and U.S. Bank National Association, as Trustee and Collateral Agent, relating to the 4.875%
First Priority Senior Secured Notes due 2026, dated June 5, 2019 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on June 6, 2019).
|
|||
Supplemental Indenture, among Berry Global Group, Inc., Berry Global, Inc., Berry Global Escrow Corporation, each of the parties identified as a
Subsidiary Guarantor thereon, and U.S. Bank National Association, as Trustee, relating to the 4.875% First Priority Senior Secured Notes due 2026, dated July 1, 2019 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on
Form 8-K filed on July 2, 2019).
|
|||
Indenture, by and between Berry Global Escrow Corporation and U.S. Bank National Association, as Trustee and Collateral Agent, relating to the 5.625%
Second Priority Senior Secured Notes due 2027, dated June 5, 2019 (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on June 6, 2019).
|
|||
Supplemental Indenture, among Berry Global Group, Inc., Berry Global, Inc., Berry Global Escrow Corporation, each of the parties identified as a
Subsidiary Guarantor thereon, and U.S. Bank National Association, as Trustee, relating to the 5.625% Second Priority Senior Secured Notes due 2027, dated July 1, 2019 (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on
Form 8-K filed on July 2, 2019).
|
|||
Indenture, among Berry Global, Inc., certain guarantors party thereto, U.S. Bank National Association, as Trustee and Collateral Agent, and Elavon
Financial Services DAC, as Paying Agent, Transfer Agent and Registrar, relating to the 1.00% First Priority Senior Secured Notes due 2025 and 1.50% First Priority Senior Secured Notes due 2027, dated January 2, 2020 (incorporated by reference
to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on January 2, 2020).
|
|||
Indenture among Berry Global, Inc., certain guarantors party thereto, U.S. Bank National Association, as Trustee and Collateral Agent, relating to the
1.57% First Priority Senior Secured Notes due 2026, dated December 22, 2020 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on December 23, 2020).
|
|||
First Supplemental Indenture, among Berry Global, Inc., certain guarantors party thereto, U.S. Bank National Association, as Trustee and Collateral
Agent, relating to the 1.57% First Priority Senior Secured Notes due 2026, dated March 4, 2021 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on March 4, 2021).
|
|||
Indenture among Berry Global, Inc., certain guarantors party thereto, U.S. Bank National Association, as Trustee and Collateral Agent, relating to the
0.95% First Priority Senior Secured Notes due 2024, dated January 15, 2021 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on January 15, 2021).
|
|||
Indenture, among Berry Global, Inc., certain guarantors party thereto, U.S. Bank National Association, as Trustee and Collateral Agent, relating to
the 1.65% First Priority Senior Secured Notes due 2027, dated June 14, 2021 (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on June 14, 2021).
|
_
|
Registration Rights Agreement, by and between Berry Global, Inc., Berry Global Group, Inc., each subsidiary of Berry Global, Inc. identified therein,
and Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, on behalf of themselves and as representatives of the initial purchasers, relating to the 1.57% First Priority Senior Secured Notes due 2026 (incorporated by reference to Exhibit
4.2 to the Company’s Current Report on Form 8-K filed on December 23, 2020).
|
||
Registration Rights Agreement, by and between Berry Global, Inc., Berry Global Group, Inc., each subsidiary of Berry Global, Inc. identified therein,
and Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, on behalf of themselves and as representatives of the initial purchasers, relating to the 0.95% First Priority Senior Secured Notes due 2024 (incorporated by reference to Exhibit
4.2 to the Company’s Current Report on Form 8-K filed on January 15, 2021).
|
|||
Registration Rights Agreement, dated March 4, 2021, by and between Berry Global, Inc., Berry Global Group, Inc., each subsidiary of Berry Global, Inc.
identified therein, and Citigroup Global Markets Inc. Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC, on behalf of themselves and as representatives of the initial purchasers, relating to the 1.57% First Priority Senior Secured
Notes due 2026 (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on March 5, 2021).
|
|||
Registration Rights Agreement, by and between Berry Global, Inc., Berry Global Group, Inc., each subsidiary of Berry Global, Inc. identified therein,
and J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC, on behalf of themselves and as representatives of the initial purchasers, relating to the 1.65% First Priority Senior Secured Notes due 2027
(incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on June 14, 2021).
|
|||
Description of Securities (incorporated by reference to Exhibit 4.9 to the Company’s Annual Report on Form 10-K filed on November 11, 2019).
|
|||
$850,000,000 Third Amended and Restated Revolving Credit Agreement, dated as of May 1, 2019, by and among Berry Global, Inc., Berry Global Group,
Inc., the lenders party thereto, Bank of America, N.A., as collateral agent and administrative agent, and the financial institutions party thereto (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on
May 6, 2019).
|
|||
U.S. $1,200,000,000 Second Amended and Restated Credit Agreement, dated as of April 3, 2007, by and among Berry Plastics Corporation formerly known as
Berry Plastics Holding Corporation, Berry Plastics Group, Inc., Credit Suisse, Cayman Islands Branch, as collateral and administrative agent, the lenders party thereto from time to time, and the other financial institutions party thereto
(incorporated by reference to Exhibit 10.1(b) to Berry Plastics Corporation’s Current Report on Form 8-K filed on April 10, 2007).
|
|||
Second Amended and Restated Intercreditor Agreement, dated as of February 5, 2008, by and among Berry Plastics Group, Inc., Berry Plastics
Corporation, certain subsidiaries identified as parties thereto, Bank of America, N.A. and Credit Suisse, Cayman Islands Branch as first lien agents, and U.S. Bank National Association, as successor in interest to Wells Fargo Bank, N.A., as
trustee (incorporated by reference to Exhibit 10.3 to the Company’s Annual Report on Form 10-K filed on November 23, 2015).
|
|||
U.S. $1,147,500,000 and $814,375,000 Incremental Assumption Agreement, dated as of February 10, 2017 by and among Berry Plastics Group, Inc., Berry
Plastics Corporation and certain of its subsidiaries referenced therein, Credit Suisse AG, Cayman Islands Branch, as administrative agent for the lenders under the term loan credit agreement referenced therein, Citibank, N.A., as initial Term K
lender and Citibank, N.A., as incremental term L lender therein. (incorporated by reference to Exhibit 10.7 to the Company’s Annual Report on Form 10-K filed on November 21, 2017).
|
|||
U.S. $1,644,750,000 and $498,750,000 Incremental Assumption Agreement, dated as of August 10, 2017, by and among Berry Plastics Group, Inc., Berry
Plastics Corporation and certain of its subsidiaries referenced therein, Credit Suisse AG, Cayman Islands Branch, as administrative agent for the lenders under the term loan credit agreement referenced therein, Wells Fargo Bank, National
Association, as initial Term M lender and Wells Fargo Bank, National Association, as initial Term N lender therein (incorporated by reference to Exhibit 10.8 to the Company’s Annual Report on Form 10-K filed on November 21, 2017).
|
|||
U.S. $900,000,000 and $814,375,000 Incremental Assumption Agreement, dated as of November 27, 2017, by and among Berry Global Group, Inc., Berry
Global, Inc. and certain of its subsidiaries referenced therein, Credit Suisse AG, Cayman Islands Branch, as administrative agent for the lenders under the term loan credit agreement referenced therein, Citibank, N.A., as initial Term O Lender,
and Citibank, N.A., as initial Term P Lender therein. (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on February 7, 2018).
|
U.S. $ 1,644,750,000 and $496,250,000 Incremental Assumption Agreement and Amendment, dated as of February 12, 2018, by and among Berry Global Group,
Inc., Berry Global, Inc. and certain of its subsidiaries referenced therein, Credit Suisse AG, Cayman Islands Branch, as administrative agent for the lenders under the term loan credit agreement referenced therein, Citibank, N.A., as initial
Term Q lender, and Citibank, N.A., as initial Term R lender therein (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed on May 3, 2018).
|
|||
U.S. $800,000,000 and $814,375,000 Incremental Assumption Agreement, dated as of May 16, 2018, by and among Berry Global Group, Inc., Berry Global,
Inc. and certain of its subsidiaries referenced therein, Credit Suisse AG, Cayman Islands Branch, as administrative agent for the lenders under the term loan credit agreement referenced therein, Citibank, N.A., as initial Term S lender, and
Citibank, N.A., as initial Term T lender therein (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on August 3, 2018).
|
|||
Incremental Assumption Agreement and Amendment, among Berry Global Group, Inc., Berry Global, Inc. and certain subsidiaries of
Berry Global, Inc., as Loan Parties, Credit Suisse AG, Cayman Islands Branch, as Administrative Agent, Goldman Sachs Bank USA, as Initial Term U Lender, and Goldman Sachs Bank USA, as Initial Term V Lender, dated as of July 1, 2019
(incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on July 2, 2019).
|
|||
Amendment and Waiver to Equipment Lease Agreement, dated as of January 19, 2011, between Chicopee, Inc., as Lessee and Gossamer
Holdings, LLC, as Lessor (incorporated by reference to Exhibit 10.16 to AVINTIV Specialty Materials Inc.’s Registration Statement Form S-4 filed on October 25, 2011).
|
|||
Second Amendment to Equipment Lease Agreement, dated as of October 7, 2011, between Chicopee, Inc., as Lessee and Gossamer
Holdings, LLC, as Lessor (incorporated by reference to Exhibit 10.17 to AVINTIV Specialty Materials Inc.’s Registration Statement Form S-4 filed on October 25, 2011).
|
|||
Third Amendment to Equipment Lease Agreement, dated as of February 28, 2012, between Chicopee, Inc., as Lessee and Gossamer
Holdings, LLC, as Lessor (incorporated by reference to Exhibit 10.1 to AVINTIV Specialty Materials Inc.’s Quarterly Report on Form 10-Q filed on May 15, 2012).
|
|||
Fourth Amendment to Equipment Lease Agreement, dated as of March 22, 2013, between Chicopee, Inc., as Lessee and Gossamer
Holdings, LLC, as Lessor (incorporated by reference to Exhibit 10.1 to AVINTIV Specialty Materials Inc.’s Quarterly Report on Form 10-Q filed on May 9, 2013).
|
|||
†
|
2006 Equity Incentive Plan (incorporated by reference to Exhibit 10.8 to Berry Plastics Corporation’s Registration Statement Form
S-4 filed on November 2, 2006).
|
||
†
|
Amendment No. 2 to the Berry Plastics Group, Inc., 2006 Equity Incentive Plan (incorporated by reference to Exhibit 10.9 to the
Company’s Annual Report on Form 10-K filed on December 11, 2013).
|
||
†
|
Amendment No. 3 to Berry Plastics Group, Inc. 2006 Equity Incentive Plan (incorporated by reference to Exhibit 10.1 to the
Company’s Current Report on Form 8-K filed on March 10, 2015).
|
||
†
|
Form of 2016 Omnibus Amendment to Awards Granted Under the Berry Plastics Group, Inc. 2006 Equity Incentive Plan (incorporated by
reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on July 22, 2016).
|
||
†
|
Omnibus amendment to awards granted under the Berry Plastics Group, Inc., 2006 Long-Term Incentive Plan (incorporated by
reference to Exhibit 10.10 to the Company’s Annual Report on Form 10-K filed on December 11, 2013).
|
||
†
|
Form of Performance-Based Stock Option Agreement of Berry Plastics Group, Inc. (incorporated by reference to Exhibit 10.9 to
Berry Plastics Corporation’s Registration Statement Form S-4 filed on November 2, 2006).
|
||
†
|
Form of Accreting Stock Option Agreement of Berry Plastics Group, Inc. (incorporated by reference to Exhibit 10.10 to Berry
Plastics Corporation’s Registration Statement Form S-4 filed on November 2, 2006).
|
||
†
|
Form of Time-Based Stock Option Agreement of Berry Plastics Group, Inc. (incorporated by reference to Exhibit 10.11 to Berry
Plastics Corporation’s Registration Statement Form S-4 filed on November 2, 2006).
|
||
†
|
Form of Performance-Based Stock Appreciation Rights Agreement of Berry Plastics Group, Inc. (incorporated by reference to Exhibit
10.12 to Berry Plastics Corporation’s Registration Statement Form S-4 filed on November 2, 2006).
|
||
†
|
Employment Agreement of Thomas E. Salmon (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K
filed on February 6, 2017).
|
||
†
|
Berry Plastics Group, Inc. Executive Bonus Plan, amended and restated December 22, 2015, effective as of September 27, 2015
(incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on December 28, 2015).
|
||
†
|
Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.27 to the Company’s Annual
Report on Form 10-K filed on December 17, 2012).
|
†
|
Amendment No. 1 to the Berry Plastics Group, Inc., 2012 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.31 to
the Company’s Annual Report on Form 10-K filed on December 11, 2013).
|
||
†
|
Omnibus amendment to awards granted under the Berry Plastics Group, Inc., 2012 Long-Term Incentive Plan (incorporated by
reference to Exhibit 10.32 to the Company’s Annual Report on Form 10-K filed on December 11, 2013).
|
||
†
|
Amendment No. 2 to the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (incorporated by reference to Exhibit 10.2 to the
Company’s Current Report on Form 8-K filed on March 10, 2015).
|
||
†
|
Form of 2016 Omnibus Amendment to Awards Granted Under the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan (incorporated
by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on July 22, 2016).
|
||
†
|
2015 Berry Plastics Group, Inc. Long-Term Incentive Plan (incorporated by reference to Exhibit 10.3 to the Company’s Current
Report on Form 8-K filed on March 10, 2015).
|
||
†
|
First Amendment to 2015 Berry Plastics Group, Inc. Long-Term Incentive Plan (incorporated by reference to Exhibit 10.1 to the
Company’s Current Report on Form 8-K filed on March 6, 2018).
|
||
†
|
Form of 2016 Omnibus Amendment to Awards Granted Under the Berry Plastics Group, Inc. 2015 Long-Term Incentive Plan (incorporated by reference to
Exhibit 10.4 to the Company’s Current Report on Form 8-K filed on July 22, 2016).
|
||
†
|
Fourth Amended and Restated Stockholders Agreement, by and among Berry Plastics Group, Inc., and the stockholders of the Corporation listed on
schedule A thereto, dated as of January 15, 2015 (incorporated by reference to Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q filed on January 30, 2015).
|
||
†
|
Employment Agreement, dated January 1, 2002, between the Berry Plastics Corporation and Curtis Begle (incorporated by reference to Exhibit 10.1 to the
Company’s Quarterly Report on Form 10-Q filed on January 31, 2014).
|
||
†
|
Amendment No. 1 to Employment Agreement, dated as of September 13, 2006, by and between the Berry Plastics Corporation and Curtis Begle (incorporated
by reference to Exhibit 10.3 to the Company’s Quarterly Report on Form 10-Q filed on January 31, 2014).
|
||
†
|
Amendment No. 2 to Employment Agreement, dated December 31, 2008, by and between the Berry Plastics Corporation and Curtis Begle (incorporated by
reference to Exhibit 10.4 to the Company’s Quarterly Report on Form 10-Q filed on January 31, 2014).
|
||
†
|
Amendment No. 3 to Employment Agreement, dated August 1, 2010, by and between the Berry Plastics Corporation and Curtis L. Begle (incorporated by
reference to Exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q filed on January 31, 2014).
|
||
†
|
Amendment No. 4 to Employment Agreement, dated December 16, 2011, by and between the Berry Plastics Corporation and Curtis L. Begle (incorporated by
reference to Exhibit 10.6 to the Company’s Quarterly Report on Form 10-Q filed on January 31, 2014).
|
||
†
|
Employment Agreement, dated February 28, 1998, between Berry Plastics Corporation and Mark Miles, together with amendments dated February 28, 2003,
September 13, 2006, December 31, 2008, and December 31, 2011 (incorporated by reference to Exhibit 10.40 to the Company’s Annual Report on Form 10-K filed on November 30, 2016).
|
||
†
|
Form of Amendment to Employment Agreement by and between Berry Plastics Corporation and each of Curtis L Begle, Mark W. Miles, and Thomas E. Salmon
(incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on July 22, 2016).
|
||
†
|
Senior Executive Employment Contract dated as of September 30, 2015 by and between PGI Specialty Materials Inc. and Jean Marc Galvez, together with
the International Assignment Letter dated December 18, 2016 from Berry Global, Inc. (f/k/a Berry Plastics Corporation) (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed on February 7, 2018).
|
||
†
|
Employment Agreement, dated December 16, 2010, between Berry Plastics Corporation and Jason Greene, together with amendments dated December 31, 2011
and July 20, 2016 (incorporated by reference to Exhibit 10.43 to the Company’s Annual Report on Form 10-K filed on November 23, 2020).
|
||
†
|
Amended and Restated Berry Global Group, Inc. 2015 Long-Term Incentive Plan, effective February 24, 2021 (incorporated by reference to Exhibit 10.1 to
the Company’s Current Report on Form 8-K filed on February 25, 2021).
|
||
†
|
Form of Employee Non-Qualified Stock Option Award Agreement (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K
filed on November 30, 2020).
|
||
†
|
Form of Employee Performance-Based Stock Unit Award Agreement (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K
filed on November 30, 2020).
|
||
†
|
Form of Director Non-Qualified Stock Option Award Agreement (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K
filed on November 30, 2020).
|
*
|
Subsidiaries of the Registrant.
|
||
*
|
List of Subsidiary Guarantors.
|
||
*
|
Consent of Independent Registered Public Accounting Firm.
|
||
*
|
Rule 13a-14(a)/15d-14(a) Certification of the Chief Executive Officer.
|
||
*
|
Rule 13a-14(a)/15d-14(a) Certification of the Chief Financial Officer.
|
||
*
|
Section 1350 Certification of the Chief Executive Officer.
|
||
*
|
Section 1350 Certification of the Chief Financial Officer.
|
||
101.INS
|
Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
|
||
101.SCH
|
Inline XBRL Taxonomy Extension Schema Document.
|
||
101.CAL
|
Inline XBRL Taxonomy Extension Calculation Linkbase Document.
|
||
101.DEF
|
Inline XBRL Taxonomy Extension Definition Linkbase Document.
|
||
101.LAB
|
Inline XBRL Taxonomy Extension Label Linkbase Document.
|
||
101.PRE
|
Inline XBRL Taxonomy Extension Presentation Linkbase Document.
|
||
104
|
Cover Page Interactive Date File (formatted as Inline XBRL and contained in Exhibit 101.)
|
* |
Filed or furnished herewith, as applicable.
|
† |
Management contract or compensatory plan or arrangement.
|
BERRY GLOBAL GROUP, INC.
|
|||
By
|
/s/ Thomas E. Salmon
|
||
Thomas E. Salmon
|
|||
Chief Executive Officer
|
Signature
|
Title
|
Date
|
||
/s/ Thomas E. Salmon
|
Chief Executive Officer and Chairman of the Board of Directors and Director (Principal Executive Officer)
|
November 18, 2022
|
||
Thomas E. Salmon
|
||||
/s/ Mark W. Miles
|
Chief Financial Officer (Principal Financial Officer)
|
November 18, 2022
|
||
Mark W. Miles
|
||||
/s/ James M. Till
|
Executive Vice President and Controller (Principal Accounting Officer)
|
November 18, 2022
|
||
James M. Till
|
||||
/s/ B. Evan Bayh
|
Director
|
November 18, 2022
|
||
B. Evan Bayh
|
||||
/s/ Jonathan F. Foster
|
Director
|
November 18, 2022
|
||
Jonathan F. Foster
|
||||
/s/ Idalene F. Kesner
|
Director
|
November 18, 2022
|
||
Idalene F. Kesner
|
||||
/s/ Jill A. Rahman
|
Director
|
November 18, 2022
|
||
Jill A. Rahman
|
||||
/s/ Carl J. Rickertsen
|
Director
|
November 18, 2022
|
||
Carl J. Rickertsen
|
||||
/s/ Paula Sneed
|
Director
|
November 18, 2022
|
||
Paula Sneed
|
||||
/s/ Robert A. Steele
|
Director
|
November 18, 2022
|
||
Robert A. Steele
|
||||
/s/ Stephen E. Sterrett
|
Director
|
November 18, 2022
|
||
Stephen E. Sterrett
|
||||
/s/ Scott B. Ullem
|
Director
|
November 18, 2022
|
||
Scott B. Ullem
|
159422 Canada Inc. |
Ace Classic Medical Components (Shanghai) Company Limited |
Ace Corporation Holdings Limited |
Ace Industrial Technologies Limited |
Ace Medical Components Co Limited |
Ace Mold (HeFei) Company Limited |
Ace Mold (Shanghai) Company Limited |
Ace Mold (Zhuhai) Company Limited |
Ace Mold Company Limited |
Ace Mold Industrial (Shanghai) Company Limited |
Ace Mold Industrial (Shenzhen) Company Limited |
Ace Plastics (Shenzhen) Company Limited |
Ace Plastics (Zhuhai) Company Limited |
Ace Plastics Company Limited |
Ace Plastics Technologies Limited |
AEP Canada, Inc. |
AeroCon, LLC |
Aspen Industrial S.A. de C.V. |
Astra Plastique SAS |
Astrapak Manufacturing Holdings Proprietary Limited |
Astrapak Property Holdings Proprietary Limited |
AT Films Inc |
AT Films US Inc |
AVINTIV Inc. |
AVINTIV Acquisition Corporation |
AVINTIV Specialty Materials, Inc. |
Barplas Limited |
Bender GmbH |
Berry Ace Packaging (Jiaxing) Company Limited |
Berry Acquisition Company do Brasil Ltda. |
Berry Aschersleben GmbH |
Berry Bramlage Kolding A/S |
Berry do Brasil Ltda. |
Berry Dombuhl GmbH |
Berry EKE NV |
Berry Europe GmbH |
Berry Film Products Acquisition Company, Inc. |
Berry Film Products Company, Inc. |
Berry Film Trading (Shanghai) Co., Ltd. |
Berry Gent NV |
Berry Global Films, LLC |
Berry Global France Holdings SAS |
Berry Global Group, Inc. |
Berry Global India Private Limited |
Berry Global International Financing Limited |
Berry Global International Holdings Limited |
Berry Global UK Holding Limited |
Berry Global, Inc. |
Berry Holding Company do Brasil Ltda. |
Berry Holding Denmark A/S |
Berry Packaging Holdings France SARL |
Berry Packaging Norway AS |
Berry PET Power France SASU |
Berry Plastics Acquisition Corporation V |
Berry Plastics Acquisition Corporation XIV, LLC |
Berry Plastics Acquisition LLC X |
Berry Plastics Asia Pacific Limited |
Berry Plastics Asia Pte. Ltd. |
Berry Plastics Canada, Inc. |
Berry Plastics de Mexico, S. de R.L. de C.V. |
Berry Plastics Design, LLC |
Berry Plastics Escrow, LLC |
Berry Plastics Filmco, Inc. |
Berry Plastics GmbH |
Berry Plastics Holding GmbH & Co. KG |
Berry Plastics Hong Kong Limited |
Berry Plastics IK, LLC |
Berry Plastics International B.V. |
Berry Plastics International GmbH |
Berry Plastics Opco, Inc. |
Berry Plastics Qingdao Limited |
Berry Plastics SP, Inc. |
Berry Plastics Technical Services, Inc. |
Berry Specialty Tapes, LLC |
Berry Superfos Balkan d o o |
Berry Superfos Besancon SAS |
Berry Superfos Bouxwiller SAS |
Berry Superfos Bremervörde Management GmbH |
Berry Superfos Bremervörde Packaging GmbH |
Berry Superfos Bremervörde Print GmbH |
Berry Superfos Italy SRL |
Berry Superfos La Genete SAS |
Berry Superfos Lidköping AB |
Berry Superfos Lubień Sp z o o |
Berry Superfos Mullsjö AB |
Berry Superfos Opfenbach GmbH |
Berry Superfos Packaging Solutions Kaltenkirchen GmbH |
Berry Superfos Pamplona SA |
Berry Superfos Pori Oy |
Berry Superfos Poznań Sp. z o o |
Berry Superfos Randers A/S |
Berry Superfos Stilling A/S |
Berry Superfos Wetteren NV |
Berry UK Holdings Limited |
Berry UK Pension Trustees Limited |
Bonlam, S.A. DE C.V. |
BPI 2010 Limited |
BPI Europe BV |
BPI Formipac France SARL |
BPI General Partner Limited |
BPI International (No 2) Limited |
BPI International Limited |
BPI Legacy One Limited |
BPI Legacy Two Limited |
BPI Limited |
BPI Limited Partner Limited |
BPI Pension Funding Limited Partnership |
BPRex Closure Systems, LLC |
BPRex Closures Kentucky Inc. |
BPRex Closures, LLC |
BPRex de Mexico S.A. de R.L. de CV |
BPRex Delta Inc. |
BPRex Healthcare Brookville Inc. |
BPRex Healthcare Offranville SAS |
BPRex Healthcare Packaging, Inc. |
BPRex Partipacoes Ltda |
BPRex Pharma Packaging India Private Limted |
BPRex Plastic Packaging (India) Private Limited |
BPRex Plastic Packaging de Mexico S.A. de C.V. |
BPRex Plastic Packaging, Inc. |
BPRex Plasticos Do Brasil Ltda |
BPRex Product Design & Engineering Inc. |
BPRex Specialty Products Puerto Rico Inc. |
BPSW19 Limited |
Brithene Films Limited |
British Polythene Industries Limited |
British Polythene Limited |
Brownoak (Final) Assured Tenancies Limited |
Caplas LLC |
Caplas Neptune, LLC |
Captive Plastics, LLC |
Cardinal Packaging, Inc. |
Chicopee Asia, Limited |
Chicopee Holdings B.V. |
Chicopee Holdings C.V. |
Chicopee, Inc. |
Chocksett Road Limited Partnership |
Chocksett Road Realty Trust |
Zedcor Limited |
Combipac BV |
Companhai Providencia Industria e Comercio |
Covalence Specialty Adhesives LLC |
Covalence Specialty Coatings LLC |
CPI Holding Corporation |
CSM Mexico SPV LLC |
Delta Polythene Limited |
Dominion Textile (USA), L.L.C. |
Dominion Textile Inc. |
Dongguan First Packaging Co. Limited |
Dongguan United Packaging Co., Limited |
Dounor SAS |
Drumrace Limited |
DT Acquisition Inc. |
Dumpling Rock, LLC |
ESE BV |
ESE France SAS |
ESE GmbH |
ESE Holding SASU |
ESE Holdings Limited |
ESE Kft |
ESE NV |
ESE Sp. z o.o. |
ESE Sweden Holding AB |
ESE World BV |
ESE World Limited |
Estero Porch, LLC |
Fabrene, Inc. |
Fabrene, L.L.C. |
Fiberweb (Tianjin) Specialty Nonwovens Company Limited |
Fiberweb Berlin GmbH |
Fiberweb France SAS |
Fiberweb Geos, Inc. |
Fiberweb Geosynthetics Limited |
Fiberweb Geosynthetiques Sarl |
Fiberweb Holding Deutschland GmbH |
Fiberweb Holdings Limited |
Fiberweb Italia SRL |
Fiberweb Limited |
Fiberweb, LLC |
Fiberweb Terno D'Isola SRL |
Financiere Daunou 1 SA |
Flexfilm Limited |
Fortune Best Trading Limited |
Galion Distribution SARL |
Galion International SA |
Galion SA |
Galion Senegal SA |
GCS Holdco Finance I SA |
GCS Holdco Finance II SARL |
GDMH SA |
Genius World Holding Ltd |
Global Closure Systems America 1, Inc. |
Global Closure Systems France 1 SAS |
Global Closure Systems France 2 SAS |
Global Closure Systems Germany GmbH |
Global Closure Systems Spain SLU |
Global Closure Systems UK Limited |
Grafco Industries Limited Partnership |
Grupo de Servicios Berpla, S. de R.L. de C.V. |
Irish Polythene Industries Limited |
J P Plast S R O |
J P Plast Slovakia spol S R O |
Jacinto Mexico, S.A. de C.V. |
Jagtenberg Beheer BV |
Jiangmen United Packaging Co., Limited |
Jordan Plastics Limited |
Kerr Group, LLC |
Knight Plastics, LLC |
Laddawn, Inc. |
Lamb's Grove, LLC |
Letica Corporation |
Letica Resources, Inc. |
LLC ESE South America S.R.L. |
LLC RPC Bramlage Yekaterinburg |
Lunifera Investments Proprietary Limited |
M & H Plastics Inc |
Marcom Plastics Proprietary Limited |
Massmould Limited |
Maynard & Harris Group Limited |
Maynard & Harris Holdings Limited |
Maynard & Harris Plastics |
Maynard & Harris Plastics (UK) Limited |
Maynard & Harris Plastics Pension Trustee Limited |
Millham, LLC |
Moore and Company (Nottingham) Limited |
Multicom SRL |
Nanhai Nanxin Non Woven Co. Ltd |
Nordfolien GmbH |
Nordfolien Polska Sp. z o.o. |
Obrist (Thailand) Co Limited |
Obrist Closures Switzerland GmbH |
Obrist Eastern Europe SRL |
Obrist Iberia SLU |
Obrist Italia Srl |
Old Hickory Steamworks, LLC |
Packerware, LLC |
PET Power BV |
PET Power Handels GmbH |
Pfizer Investment Ltd |
PGI Acquisition Limited |
PGI Argentina S.A. |
PGI Colombia LTDA |
PGI Europe, Inc. |
PGI France SAS |
PGI Holdings B.V. |
PGI Netherlands Holdings (NO. 2) B.V. |
PGI Non-Woven (China) Company Limited |
PGI Nonwovens (Mauritius) |
PGI Nonwovens B.V. |
PGI Polymer, Inc. |
PGI Spain S.L. U |
Plasgran Limited |
Plastiape S.p.A. |
Pliant de Mexico S.A. de C.V. |
Pliant International, LLC |
Pliant, LLC |
Polycrop Limited |
Polymer Group Holdings C.V. |
Poly-Seal, LLC |
Promens AS (Estonia) |
Promens Asia Limited |
Promens Do Brasil Serviços Ltda |
Promens Firenze SRL |
Promens Food Packaging Limited |
Promens Holding OU |
Promens Holding UK Limited |
Promens Italy SRL |
Promens Monastir SARL |
Promens Munchen GmbH |
Promens Nitra S R O |
Promens OY |
Promens Packaging GmbH |
Promens Packaging Limited |
Promens Packaging SAU |
Promens Personal Healthcare GmbH |
Promens SA |
Promens SARL |
Promens Zevenaar BV |
Providencia USA, Inc. |
PWS Danmark A/S |
PWS Finland OY |
PWS Nordic AB |
Rafypak, S.A. de C.V. |
Rigid Plastic Containers Finance Limited |
Rigid Plastic Containers Holdings Limited |
Rigid Plastic Containers Packaging Limited |
Rollpak Corporation |
Romfilms Limited |
RPC 2017 Holding Company Limited |
RPC Ace Company Limited |
RPC ACE Plastics (Hefei) Co Limited |
RPC Africa Holdings Pty Limited |
RPC Asia Pacific Holdings Limited |
RPC Astrapak Proprietary Limited |
RPC Australia Holdings Pty Limited |
RPC Bramlage DHS BV |
RPC Bramlage Dinklage GmbH & Co KG |
RPC Bramlage Division GmbH & Co KG |
RPC Bramlage Food GmbH |
RPC Bramlage GmbH |
RPC Bramlage Inc. |
RPC Bramlage Vel'ky Meder s.r.o. |
RPC Bramlage Warszawa Sp.z.o.o. |
RPC Bramlage Werkzeugbau GmbH & Co KG |
RPC Containers Limited |
RPC Containers Pension Trustees Limited |
RPC Emballages Moirans SAS |
RPC Emballages Montpont SAS |
RPC Emballages SAS |
RPC Envases SA |
RPC Finance Limited |
RPC Folio Holdings GmbH |
RPC Formatec GmbH |
RPC Formatec Verwaltungsgesellschaft mbH |
RPC Group Limited |
RPC Group Management Limited |
RPC Leopard Holdings, Inc. |
RPC Packaging (Deutschland) BV & Co KG |
RPC Packaging Brasil Indústria e Comércio de Embalagens Ltda |
RPC Packaging BV |
RPC Packaging Europe BV |
RPC Packaging Holdings (Deutschland) BV & Co KG |
RPC Packaging Holdings (Norway) AS |
RPC Packaging Holdings (US) Inc |
RPC Packaging Holdings Brazil BV |
RPC Packaging Holdings BV |
RPC Packaging Holdings Limited |
RPC Pisces Holdings Limited |
RPC Promens Group AS |
RPC Promens Group BV |
RPC Promens Industrial Crailsheim GmbH |
RPC Promens Industrial Jagtenberg B.V |
RPC Superfos US, Inc. |
RPC Tedeco-Gizeh (UK) Limited |
RPC Tedeco-Gizeh Troyes SAS |
RPC Verpackungen Kutenholz GmbH |
RPC Verwaltungsgesellschaft BV |
RPC WIKO GmbH |
RPC Wiko Verwaltungsgellschaft GmbH |
RPC Zeller Plastik Libertyville, Inc. |
Saffron Acquisition, LLC |
Megafilm Limited |
SC Romfilms SRL |
SCI Vertuquet |
Scott & Robertson Limited |
Setco, LLC |
Shenzhen Howyecen Automotive Electronics Company Limited |
SPA Galion Algerie |
Spec Molders Proprietary Limited |
Spec Tool and Die and General Engineering Proprietary Limited |
Stag Plastics Limited |
Strata Products Limited |
Sugden, LLC |
Sun Coast Industries, LLC |
Superfos Runcorn Limited |
Superfos Tamworth Limited |
Terram Defencell Limited |
Terram Geosynthetics Private Limited |
Terram Limited |
Tyco Acquisition Alpha LLC |
UAB ESE Baltija |
UK Polyfilm Limited |
Uniplast Holdings, LLC |
Uniplast U.S., Inc. |
V M B Limited |
Venture Packaging, Inc. |
Venture Packaging Midwest, Inc. |
Weener Plastop Proprietary Limited |
Wiko (UK) Limited |
Zeller Engineering GmbH |
Zeller Plastik Deutschland GmbH |
Zeller Plastik Espana SLU |
Zeller Plastik France SAS |
Zeller Plastik Italia Srl |
Zeller Plastik Mexico SA de CV |
Zeller Plastik Philippines Inc |
Zeller Plastik Poland Sp. z o.o. |
Zeller Plastik Shanghai Limited |
Description of Notes |
0.95% First Priority Senior Secured Notes due 2024 |
1.00% First Priority Senior Secured Notes due 2025 |
4.875% First Priority Senior Secured Notes due 2026 |
1.57% First Priority Senior Secured Notes due 2026 |
1.50% First Priority Senior Secured Notes due 2027 |
1.65% First Priority Senior Secured Notes due 2027 |
4.500% Second Priority Senior Secured Notes due 2026 |
5.625% Second Priority Senior Secured Notes due 2027 |
Name | Jurisdiction | Obligor Type |
AeroCon, LLC | Delaware | Guarantor |
AVINTIV Acquisition Corporation | Delaware | Guarantor |
AVINTIV Inc. | Delaware | Guarantor |
AVINTIV Specialty Materials Inc. | Delaware | Guarantor |
Berry Film Products Acquisition Company, Inc. | Delaware | Guarantor |
Berry Film Products Company, Inc. | Delaware | Guarantor |
Berry Global Films, LLC | Delaware | Guarantor |
Berry Global, Inc. | Delaware | Issuer |
Berry Plastics Acquisition Corporation V | Delaware | Guarantor |
Berry Plastics Acquisition LLC X | Delaware | Guarantor |
Berry Plastics Design, LLC | Delaware | Guarantor |
Berry Plastics Filmco, Inc. | Delaware | Guarantor |
Berry Plastics IK, LLC | Delaware | Guarantor |
Berry Plastics Opco, Inc. | Delaware | Guarantor |
Berry Plastics SP, Inc. | Delaware | Guarantor |
Berry Plastics Technical Services, Inc. | Delaware | Guarantor |
Berry Specialty Tapes, LLC | Delaware | Guarantor |
BPRex Closure Systems, LLC | Delaware | Guarantor |
BPRex Closures Kentucky Inc. | Delaware | Guarantor |
BPRex Closures, LLC | Delaware | Guarantor |
BPRex Delta Inc. | Delaware | Guarantor |
BPRex Healthcare Brookville Inc. | Delaware | Guarantor |
BPRex Healthcare Packaging, Inc. | Delaware | Guarantor |
BPRex Plastic Packaging, Inc. | Delaware | Guarantor |
BPRex Product Design and Engineering Inc. | Minnesota | Guarantor |
BPRex Specialty Products Puerto Rico Inc. | New Jersey | Guarantor |
Caplas LLC | Delaware | Guarantor |
Caplas Neptune, LLC | Delaware | Guarantor |
Captive Plastics, LLC | Delaware | Guarantor |
Cardinal Packaging, Inc. | Delaware | Guarantor |
Chicopee, Inc. | Delaware | Guarantor |
Chocksett Road Limited Partnership | Massachusetts | Guarantor |
Chocksett Road Realty Trust | Massachusetts | Guarantor |
Covalence Specialty Adhesives LLC | Delaware | Guarantor |
Covalence Specialty Coatings LLC | Delaware | Guarantor |
CPI Holding Corporation | Delaware | Guarantor |
Dominion Textile (USA), L.L.C. | Delaware | Guarantor |
Dumpling Rock, LLC | Massachusetts | Guarantor |
Estero Porch, LLC | Delaware | Guarantor |
Fabrene, L.L.C. | Delaware | Guarantor |
Fiberweb GEOS, Inc. | Virginia | Guarantor |
Fiberweb, LLC | Delaware | Guarantor |
Global Closure Systems America 1, Inc. | Delaware | Guarantor |
Grafco Industries Limited Partnership | Maryland | Guarantor |
Kerr Group, LLC | Delaware | Guarantor |
Knight Plastics, LLC | Delaware | Guarantor |
Laddawn, Inc. | Massachusetts | Guarantor |
Lamb’s Grove, LLC | Delaware | Guarantor |
Letica Corporation | Michigan | Guarantor |
Letica Resources, Inc. | Michigan | Guarantor |
M&H Plastics, Inc. | Virginia | Guarantor |
Millham, LLC | Delaware | Guarantor |
Old Hickory Steamworks, LLC | Delaware | Guarantor |
Packerware, LLC | Delaware | Guarantor |
PGI Europe, Inc. | Delaware | Guarantor |
PGI Polymer, Inc. | Delaware | Guarantor |
Pliant International, LLC | Delaware | Guarantor |
Pliant, LLC | Delaware | Guarantor |
Poly-Seal, LLC | Delaware | Guarantor |
Providencia USA, Inc. | North Carolina | Guarantor |
Rollpak Corporation | Delaware | Guarantor |
RPC Bramlage, Inc. | Pennsylvania | Guarantor |
RPC Leopard Holdings, Inc. | Delaware | Guarantor |
RPC Packaging Holdings (US), Inc. | Delaware | Guarantor |
RPC Superfos US, Inc. | Delaware | Guarantor |
RPC Zeller Plastik Libertyville, Inc. | Delaware | Guarantor |
Saffron Acquisition, LLC | Delaware | Guarantor |
Setco, LLC | Delaware | Guarantor |
Sugden, LLC | Delaware | Guarantor |
Sun Coast Industries, LLC | Delaware | Guarantor |
Uniplast Holdings, LLC | Delaware | Guarantor |
Uniplast U.S., Inc. | Delaware | Guarantor |
Venture Packaging Midwest, Inc. | Delaware | Guarantor |
Venture Packaging, Inc. | Delaware | Guarantor |
Name | Country | State | Owned by | Percentage of Outstanding Shares/ Membership/ Partnership Interests | Percentage of Owned Interests Pledged |
AEP Canada Inc. | Canada | Berry Global Films, LLC | 100.00% | 65% | |
AeroCon, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Aspen Industrial S.A. de C.V. | Mexico | Pliant, LLC and Pliant Corporation International (1 share) | 100.00% | 65% | |
AVINTIV Inc. | USA | DE | Berry Global, Inc. | 100.00% | 100% |
AVINTIV Acquisition Corporation | USA | DE | AVINTIV Inc. | 100.00% | 100% |
AVINTIV Specialty Materials, Inc. | USA | DE | AVINTIV Acquisition Corporation | 100.00% | 100% |
Berry Film Products Acquisition Company, Inc. (f/k/a Clopay Plastic Products Acquisition Company, Inc.) | USA | DE | Berry Film Products Company, Inc. (f/k/a Clopay Plastic Products Company, Inc.) | 100.00% | 100% |
Berry Film Products Company, Inc. (f/k/a Clopay Plastic Products Company, Inc.) | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Global Films, LLC (f/k/a Berry Plastics Acquisition Corporation XV, LLC) | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Global International Financing Limited | UK | AVINTIV Inc. | 100.00% | 65% | |
Berry Global, Inc. (f/k/a Berry Plastics Corporation) | USA | DE | Berry Plastics Group, Inc. | 100.00% | 100% |
Berry Plastics Acquisition Corporation V | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics Acquisition Corporation XIV, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics Acquisition LLC X | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics Canada, Inc. | Canada | Berry Global, Inc. | 100.00% | 65% | |
Berry Plastics de Mexico, S. de R.L. de C.V. | Mexico | Berry Plastics Acquisition Corporation V | 100.00% | 65% | |
Berry Plastics Design, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics Escrow, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics Filmco, Inc. | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics IK, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics International B.V. | Netherlands | Berry Global, Inc. | 100.00% | 65% | |
Berry Plastics Opco, Inc. | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics SP, Inc. | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry Plastics Technical Services, Inc. | USA | DE | Venture Packaging, Inc. | 100.00% | 100% |
Berry Specialty Tapes, LLC (f/k/a Berry Plastics Acquisition Corporation XI) | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Berry UK Holdings Limited | UK | AVINTIV Inc. | 100.00% | 65% | |
BPRex Closure Systems, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
BPRex Closures Kentucky Inc. | USA | DE | Berry Global, Inc. | 100.00% | 100% |
BPRex Closures, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
BPRex de Mexico S.A. de R.L. de CV | Mexico | Berry Global, Inc. and Berry Plastics Acquisition LLC X (1 share) | 100.00% | 65% | |
BPRex Delta Inc. | USA | DE | Berry Global, Inc. | 100.00% | 100% |
BPRex Healthcare Brookville Inc. | USA | DE | BPRex Plastic Packaging, Inc. | 100.00% | 100% |
BPRex Healthcare Packaging, Inc. | USA | DE | BPRex Plastic Packaging, Inc. | 100.00% | 100% |
BPRex Plastic Packaging de Mexico S.A. de C.V. | Mexico | Berry Global, Inc. | 50.00% | 65%1 | |
BPRex Plastic Packaging de Mexico S.A. de C.V. | Mexico | BPRex Healthcare Packaging, Inc. | 50.00% | ||
BPRex Plastic Packaging, Inc. | USA | DE | Berry Global, Inc. | 100.00% | 100% |
BPRex Product Design & Engineering Inc. | USA | MN | BPRex Healthcare Brookville, Inc. | 100.00% | 100% |
BPRex Specialty Products Puerto Rico Inc. | USA | NJ | BPRex Plastic Packaging, Inc. | 100.00% | 100% |
Caplas LLC | USA | DE | Captive Plastics LLC | 100.00% | 100% |
Caplas Neptune, LLC | USA | DE | Captive Plastics LLC | 100.00% | 100% |
Captive Plastics, LLC | USA | DE | Berry Plastics SP, Inc. | 100.00% | 100% |
Cardinal Packaging, Inc. | USA | DE | CPI Holding Corporation | 100.00% | 100% |
Chicopee Asia, Limited | Hong Kong | Chicopee, Inc. | 100.00% | 65% | |
Chicopee Holdings B.V. | Netherlands | PGI Europe, Inc. | 100.00% | 65% | |
Chicopee, Inc. | USA | DE | PGI Polymer, Inc. | 100.00% | 100% |
Chocksett Road Limited Partnership | USA | MA | Berry Global, Inc. | 98% Limited Partnership Interests 2% General Partnership Interests | 100% |
Chocksett Road Realty Trust | USA | MA | Chocksett Road Limited Partnership | Sole Beneficiary | 100% |
Berry Holding Company do Brasil Ltda. | Brazil | Berry Film Products Company, Inc. (f/k/a Clopay Plastic Products Company, Inc.) | 99.99% | 65%2 | |
Berry Holding Company do Brasil Ltda. | Brazil | Berry Global, Inc. | 0.01% | ||
Covalence Specialty Adhesives LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Covalence Specialty Coatings LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
CPI Holding Corporation | USA | DE | Berry Global, Inc. | 100.00% | 100% |
CSM Mexico SPV LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Dominion Textile (USA), L.L.C. | USA | DE | Chicopee, Inc. | 100.00% | 100% |
DT Acquisition Inc. | Canada | AVINTIV Specialty Materials, Inc. | 100.00% | 65% | |
Dumpling Rock, LLC | USA | MA | Berry Global, Inc. | 100.00% | 100% |
Estero Porch, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Fabrene, L.L.C. | USA | DE | PGI Europe, Inc. | 100.00% | 100% |
Fiberweb Geos, Inc. | USA | VA | PGI Europe, Inc. | 100.00% | 100% |
Fiberweb, LLC f/k/a Fiberweb, Inc. | USA | DE | PGI Europe, Inc. | 100.00% | 100% |
Global Closure Systems America 1, Inc. | USA | DE | RPC Packaging Holdings (US), Inc. | 100.00% | 100% |
Grafco Industries Limited Partnership | USA | MD | Caplas LLC | 99.00% | 100% |
Grafco Industries Limited Partnership | USA | MD | Caplas Neptune, LLC | 1.00% | 100% |
Grupo de Servicios Berpla, S. de R.L. de C.V. | Mexico | Berry Plastics Acquisition Corporation V | 65.00% | 65% | |
Grupo de Servicios Berpla, S. de R.L. de C.V. | Mexico | Berry Plastics Acquisition Corporation XIV | 35.00% | 65% | |
Kerr Group, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Knight Plastics, LLC | USA | DE | Berry Plastics SP, Inc. | 100.00% | 100% |
Laddawn, Inc. | USA | MA | Berry Global, Inc. | 100.00% | 100% |
Lamb’s Grove, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Letica Corporation | USA | DE | RPC Leopard Holdings, Inc. | 100.00% | 100% |
Letica Resources, Inc. | USA | DE | RPC Leopard Holdings, Inc. | 100.00% | 100% |
M&H Plastics, Inc. | USA | VA | AVINTIV Inc. | 100.00% | 100% |
Millham, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Old Hickory Steamworks, LLC | USA | DE | Fiberweb, LLC | 100.00% | 100% |
Packerware, LLC | USA | DE | Berry Plastics SP, Inc. | 100.00% | 100% |
PGI Acquisition Limited | UK | PGI Europe, Inc. | 100.00% | 65% | |
PGI Europe, Inc. | USA | DE | Chicopee, Inc. | 100.00% | 100% |
PGI Nonwovens (Mauritius) | Mauritius | PGI Polymer, Inc. | 100.00% | 65% | |
PGI Polymer, Inc. | USA | DE | Avintiv Specialty Materials, Inc. | 100.00% | 100% |
Pliant de Mexico S.A. de C.V. | Mexico | Pliant, LLC | 36.03% | 65% | |
Pliant International, LLC | USA | DE | Pliant, LLC | 100.00% | 100% |
Pliant, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Poly-Seal, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Providencia USA, Inc. | USA | NC | Chicopee, Inc. | 100.00% | 100% |
Rollpak Corporation | USA | DE | Berry Global, Inc. | 100.00% | 100% |
RPC Bramlage, Inc. | USA | PA | RPC Packaging Holdings (US), Inc. | 100.00% | 100% |
RPC Leopard Holdings, Inc. | USA | DE | RPC Packaging Holdings (US), Inc. | 100.00% | 100% |
RPC Packaging Holdings (US), Inc. | USA | DE | AVINTIV Inc. | 100.00% | 100% |
RPC Superfos US, Inc. | USA | DE | RPC Packaging Holdings (US), Inc. | 100.00% | 100% |
RPC Zeller Plastik Libertyville, Inc. | USA | DE | Global Closure Systems America 1, Inc. | 100.00% | 100% |
Saffron Acquisition, LLC | USA | DE | Kerr Group, LLC | 100.00% | 100% |
Setco, LLC | USA | DE | Kerr Group, LLC | 100.00% | 100% |
Sugden, LLC | USA | DE | Berry Global, Inc. | 100.00% | 100% |
Sun Coast Industries, LLC | USA | DE | Saffron Acquisition, LLC | 100.00% | 100% |
Uniplast Holdings, LLC | USA | DE | Pliant, LLC | 100.00% | 100% |
Uniplast U.S., Inc. | USA | DE | Uniplast Holdings, Inc. | 100.00% | 100% |
Venture Packaging Midwest, Inc. | USA | DE | Venture Packaging, Inc. | 100.00% | 100% |
Venture Packaging, Inc. | USA | DE | Berry Global, Inc. | 100.00% | 100% |
1 | 65% of the aggregate stock of BPRex Plastic Packaging de Mexico S.A. de C.V. is pledged. |
2 | 65% of the aggregate stock of Berry Holding Company do Brasil Ltda. is pledged. |
(1) | Registration Statement (Form S-8 No. 333-184522) pertaining to the Berry Plastics Group, Inc. 2006 Equity Incentive Plan and the Berry Plastics Group, Inc. 2012 Long-Term Incentive Plan, |
(2) | Registration Statement (Form S-8 No. 333-203173) pertaining to the Berry Plastics Group, Inc. 2015 Long-Term Incentive Plan, |
(3) | Registration Statement (Form S-8 No. 333-224252) pertaining to the Berry Global Group, Inc. 2015 Long-Term Incentive Plan (f/k/a Berry Plastics Group, Inc. 2015 Long-Term Incentive Plan), |
(4) | Registration Statement (Form S-8 No. 333-255783) pertaining to the Amended and Restated Berry Global Group, Inc. 2015 Long-Term Incentive Plan (f/k/a Berry Plastics Group, Inc. 2015 Long-Term Incentive Plan), and |
(5) | Registration Statement (Form S-4 No. 333-259272) pertaining to the Berry Global Group, Inc. S-4 Registration Statement; |
1. | I have reviewed this annual report on Form 10-K of Berry Global Group, Inc. (the "Registrant"); |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report; |
4. | The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter (the Registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and |
5. | The Registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting. |
By: | /s/ Thomas E. Salmon | ||
Date: November 18, 2022 | Thomas E. Salmon | ||
Chief Executive Officer |
1. | I have reviewed this annual report on Form 10-K of Berry Global Group, Inc. (the "Registrant"); |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report; |
4. | The Registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this annual report is being prepared; |
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) | Evaluated the effectiveness of the Registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) | Disclosed in this report any change in the Registrant's internal control over financial reporting that occurred during the Registrant's most recent fiscal quarter (the Registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting; and |
5. | The Registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant's auditors and the audit committee of the Registrant's board of directors (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant's ability to record, process, summarize and report financial information; and |
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting. |
By: | /s/ Mark W. Miles | ||
Date: November 18, 2022 | Mark W. Miles | ||
Chief Financial Officer |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
/s/ Thomas E. Salmon | |
Thomas E. Salmon | |
Chief Executive Officer |
(1) | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and |
(2) | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant. |
/s/ Mark W. Miles | |
Mark W. Miles | |
Chief Financial Officer |