GOODWILL AND OTHER INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill Balances

The following table presents changes in the goodwill balances as allocated to each reportable business segment for

the years ended December 31, 2025 and 2024:


In millions	Packaging Solutions North America	Packaging Solutions EMEA	Total
Balance as of December 31, 2023
Goodwill	$3,337	$76	$3,413
Accumulated impairment losses	(296)	(76)	(372)
	3,041	—	3,041
Currency translation	(3)	—	(3)
Balance as of December 31, 2024
Goodwill	3,334	76	3,410
Accumulated impairment losses	(296)	(76)	(372)
	3,038	—	3,038
Goodwill additions (a)	873	3,462	4,335
Goodwill reductions (b)	—	(2,467)	(2,467)
Currency translation	(2)	422	420
Balance as of December 31, 2025
Goodwill	3,968	3,960	7,928
Accumulated impairment losses	(59)	(2,543)	(2,602)
Total	$3,909	$1,417	$5,326

(a) Reflects the acquisition of DS Smith. See Note 7 - Acquisitions for further details.

(b) Reflects PS EMEA Impairment losses and PS NA write-offs of previously impaired goodwill of $237 million and accumulated

impairment losses of $(237) million.

Schedule of Identifiable Intangible Assets

Identifiable intangible assets are recorded in Deferred Charges and Other Assets in the accompanying consolidated

balance sheets and comprised the following:


	2025				2024
In millions at December 31	Gross Carrying Amount	Accumulated Amortization	Net Intangible Assets		Gross Carrying Amount	Accumulated Amortization	Net Intangible Assets
Customer relationships and lists	$4,063	$535	$3,528		$394	$329	$65
Trade names	398	21	377		—	—	—
Software	142	39	103	(a)	12	12	—
Other	102	67	35		68	61	7
Total	$4,705	$662	$4,043		$474	$402	$72

(a) Of this balance, $76 million has been placed in service and $27 million is in development.

Schedule of Amortization Expense of Intangible Assets

The Company recognized the following amounts as amortization expense related to intangible assets:


In millions	2025	2024	2023
Amortization expense related to intangible assets	$259	$25	$25

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Based on current intangibles subject to amortization, estimated amortization expense for each of the succeeding

years is as follows:


In millions		Amortization Expense
2026		$286
2027		267
2028		263
2029		237
2030		232
Thereafter		2,737
Total		$4,022

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

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