O-I Glass(OI) - 2025 Q4 - Annual Report

Employee and Workplace Environment - The Company has approximately 19,000 employees and operates 64 plants across 18 countries[49] - The Company aims to provide a safe, inclusive, and motivating work environment to support employee growth and retention[52] - The Company does not anticipate any material work stoppages in the near term due to good employee relations[55] Financial Instruments and Risks - The net fair value of derivative financial instruments hedging the net investment in international subsidiaries was a net liability of approximately $196 million as of December 31, 2025[271] - The Company has a net liability of approximately $77 million related to foreign exchange risk hedging as of December 31, 2025[272] - The potential change in fair value for financial instruments from a 10% change in foreign exchange rates would be approximately $172 million[273] - The Company has a financial counterparty policy to manage credit risk associated with derivative instruments[269] - A one percentage point change in interest rates would change the Company's annual net interest expense by $15 million as of December 31, 2025[275] - The company is exposed to interest rate fluctuations that may impact its ability to service debt and refinance on favorable terms[282] Debt and Interest Rates - The company's long-term debt at variable rate is projected to total $1,471 million by 2030, with an average interest rate increasing from 5.71% in 2026 to 6.84% in 2030[277] - The long-term debt at fixed rate is expected to reach $3,432 million by 2030, with an average interest rate rising from 6.13% in 2026 to 6.94% in 2030[277] Operational Performance and Risks - The company anticipates potential risks to future financial performance due to factors such as cost management and efficiency improvements, including impacts from production curtailments and labor reductions[280] - The company faces risks related to supply chain disruptions, competitive pressures, and changes in consumer preferences, which could affect operational performance[281] - The company acknowledges the potential impact of geopolitical events, such as the Ukraine-Russia conflict, on the availability and cost of raw materials[281] Safety and Sustainability - The Company has made significant expenditures on workplace safety improvements, which did not materially affect its results of operations or cash flows[48] - The Company operates with a focus on safety, transparency, teamwork, and sustainability as part of its core principles[50] - The company is committed to improving glass melting technology and optimizing processes to enhance productivity and cost-effectiveness[282] - The company is focused on compliance with environmental regulations and addressing climate change-related risks, which may affect operational strategies[282] Forward-Looking Statements - The company does not assume any obligation to update forward-looking statements, which are based on current expectations and involve inherent uncertainties[283]