Berry (US:BERY)2020-11-23 21:21Financial Position - As of September 26, 2020, the company has $6.2 billion in term loans and an $850 million revolving credit facility with no borrowings outstanding[127]. - A 0.25% change in LIBOR would increase the company's annual interest expense by $8 million on variable rate term loans[127]. - The company has outstanding long-term debt of €785 million designated as a hedge of its net investment in certain euro-denominated foreign subsidiaries[130]. - The company has a $450 million interest rate swap transaction that swaps a one-month variable LIBOR contract for a fixed annual rate of 1.398%[128]. Foreign Currency Impact - A 10% decline in foreign currency exchange rates would have had a $32 million unfavorable impact on fiscal 2020 net income[129]. Workforce - The company employs approximately 47,000 employees, with about 20% covered by collective bargaining agreements[26]. Sustainability Initiatives - The company is committed to sustainability, increasing the use of recycled plastics and bioplastics, and has entered into offtake agreements for recycled resins[29]. - The company is partnering with organizations like the Ellen MacArthur Foundation to create a more circular economy for plastics[29]. - The company has capabilities to recycle both rigid and flexible end-of-life materials from industrial and consumer sources[10]. Product Range - The company manufactures a wide range of products across various segments, including closures, dispensing systems, and packaging solutions for consumer and industrial applications[8][9].