Form 8-K

8-K — CROWN HOLDINGS, INC.

Accession: 0001628280-26-048820

Filed: 2026-07-20

Period: 2026-07-20

CIK: 0001219601

SIC: 3411 (METAL CANS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — cck-20260720.htm (Primary)

EX-99 — 2026 SECOND QUARTER EARNINGS NEWS RELEASE (ex99jun2026.htm)

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8-K — 2026 SECOND QUARTER EARNINGS RELEASE

8-K (Primary)

Filename: cck-20260720.htm · Sequence: 1

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0001219601false00012196012026-07-202026-07-200001219601us-gaap:CommonStockMember2026-07-202026-07-200001219601cck:SevenAnd12DebenturesDue2096Member2026-07-202026-07-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

____________

FORM 8-K

____________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 20, 2026

CROWN HOLDINGS, INC.

(Exact name of Registrant as specified in its charter)

Pennsylvania 001-41550 75-3099507

(State or Other Jurisdiction of

Incorporation or Organization) (Commission

File Number) (I.R.S. Employer

Identification No.)

14025 Riveredge Drive, Suite 300

Tampa, Florida 33637

(215) 698-5100

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant's Principal Executive Offices)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Title of each class Trading Symbols Name of each exchange on which registered

Common Stock $5.00 Par Value CCK New York Stock Exchange

7 1/2% Debentures Due 2096 CCK96 New York Stock Exchange

TABLE OF CONTENTS

Item 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS

SIGNATURE

INDEX TO EXHIBITS

EX-99 PRESS RELEASE

Item 2.02. Results of Operations and Financial Condition

On July 20, 2026 Crown Holdings, Inc. issued a press release announcing its earnings for the second quarter ended June 30, 2026. A copy of the press release is attached hereto as Exhibit 99 and incorporated herein by reference.

The information in this Report shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") or otherwise subject to the liability of that section, and shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

The following is furnished as an exhibit to this report.

99 Press release, dated July 20, 2026, issued by Crown Holdings, Inc.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CROWN HOLDINGS, INC.

By: /s/ Kevin B. Garry

Kevin B. Garry

Vice President and Corporate Controller

Dated: July 20, 2026

EX-99 — 2026 SECOND QUARTER EARNINGS NEWS RELEASE

EX-99

Filename: ex99jun2026.htm · Sequence: 2

Document

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

CROWN HOLDINGS, INC. REPORTS SECOND QUARTER 2026 RESULTS

Tampa, FL — July 20, 2026. Crown Holdings, Inc. (NYSE: CCK) today announced its financial results for the second quarter ended June 30, 2026.

Highlights

Second Quarter

•Diluted earnings per share of $2.23 versus $1.56 in 2025

•Adjusted diluted earnings per share increased 16% to $2.49 compared to $2.15 in 2025

•Global beverage can volumes increased 5%

•Share repurchases of $305 million during the quarter. Total share repurchases almost 7% of outstanding Company shares over previous twelve months

•Net leverage ratio of 2.5x adjusted EBITDA

2026 Outlook

•Full year guidance range for adjusted diluted earnings per share increased to $8.30 to $8.50 with adjusted free cash flow of at least $900 million

Commenting on the quarter, Timothy J. Donahue, Chairman, President and Chief Executive Officer, stated, “The Company continued its strong 2026 performance with excellent second quarter results. Global beverage can volume growth of 5% in the quarter was driven by double-digit gains in Asia and increases of 7% and 5% in Europe and North America, respectively, which more than offset softer demand in Latin America. Second quarter segment income results also reflect robust results across the Company’s beverage can equipment and North American Tinplate businesses. The Transit business performed well despite a continuing tepid global industrial production environment.

“The Company is on pace for another exceptional year in 2026. Notably, we expect that global beverage can demand will continue to thrive, as customers and consumers alike continue to increasingly prefer aluminum cans as the most sustainable and responsible beverage packaging option. Cans are the ideal package for brands in both the alcoholic and non-alcoholic segments and continue to be the choice for new beverage product introductions around the world. To meet this expanded demand, the Company is advancing as planned with previously announced capacity expansion projects in Brazil, Greece and Spain as well as the construction of a state-of-the-art facility in Northern India, marking Crown’s entry into one of the world’s fastest growing beverage markets.

“The Company has repurchased more than $500 million in stock during the first six months of the year, reflecting both our confidence in the long-term outlook for the Company and the continued strength of free cash flow generation. We remain committed to a disciplined and opportunistic approach to share repurchases while balancing investment opportunities and maintaining financial flexibility through a strong balance sheet. The net leverage ratio was 2.5x at the end of the second quarter of 2026.”

Net sales in the second quarter were $3,668 million compared to $3,149 million in the second quarter of 2025 reflecting higher global beverage can shipments, the pass-through of $395 million in higher material costs and favorable foreign currency translation of $32 million.

Income from operations was $464 million in the second quarter of 2026 compared to $391 million in the second quarter of 2025. Segment income in the second quarter of 2026 was $501 million compared to $476 million in the prior year second quarter driven by 5% higher global beverage can shipments and strong results across the beverage can equipment and North American tinplate businesses offset by inflationary cost increases.

Net income attributable to Crown Holdings in the second quarter of 2026 was $245 million compared to $181 million in the second quarter of 2025. Reported diluted earnings per share were $2.23 in the second quarter of 2026 compared to $1.56 in 2025 and adjusted diluted earnings per share were $2.49 compared to $2.15 in 2025.

Page 1 of 9

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

Six Month Results

Net sales for the first six months of 2026 were $6,927 million compared to $6,036 million in the first six months of 2025, reflecting the pass-through of $629 million in higher material costs, favorable foreign currency translation of $106 million and higher global beverage can shipments.

Income from operations was $829 million in the first half of 2026 compared to $756 million in the first half of 2025. Segment income in the first half of 2026 was $906 million compared to $874 million in the prior year period driven by 5% higher global beverage can shipments partially offset by inflationary cost pressures.

Net income attributable to Crown Holdings in the first six months of 2026 was $420 million compared to $374 million in the first six months of 2025. Reported diluted earnings per share were $3.78 compared to $3.21 in 2025. Adjusted diluted earnings per share were $4.34 compared to $3.81 in 2025.

Outlook

Kevin C. Clothier, Senior Vice President and Chief Financial Officer, commented “The global beverage can market remains healthy, our manufacturing network continues to perform at a high level and our balance sheet remains strong. As a result, the Company is raising 2026 adjusted diluted earnings per share guidance from a range of $7.90 to $8.30 to a range of $8.30 to $8.50 and expects third quarter adjusted diluted earnings per share in the range of $2.20 to $2.30.”

The Company expects to generate adjusted free cash flow of at least $900 million in 2026 after capital spending of approximately $550 million.

Non-GAAP Measures

Segment income, adjusted free cash flow, net debt, adjusted net leverage ratio, adjusted net income, the adjusted effective tax rate, adjusted diluted earnings per share, net interest expense, EBITDA and adjusted EBITDA are not defined terms under U.S. generally accepted accounting principles (non-GAAP measures). Non-GAAP measures should not be considered in isolation or as a substitute for income from operations, cash flow, leverage ratio, net income, effective tax rates, diluted earnings per share or interest expense and interest income prepared in accordance with U.S. GAAP and may not be comparable to calculations of similarly titled measures by other companies.

The Company views segment income as the principal measure of the performance of its operations and adjusted free cash flow and adjusted net leverage ratio as the principal measures of its liquidity. The Company considers all of these measures in the allocation of resources. Adjusted free cash flow has certain limitations, however, including that it does not represent the residual cash flow available for discretionary expenditures since other non-discretionary expenditures, such as mandatory debt service requirements, are not deducted from the measure. The amount of mandatory versus discretionary expenditures can vary significantly between periods. The Company believes that adjusted free cash flow and adjusted net leverage ratio provide meaningful measures of liquidity and a useful basis for assessing the Company’s ability to fund its activities, including the financing of acquisitions, debt repayments, share repurchases or dividends. The Company believes that adjusted net income, segment income, the adjusted effective tax rate and adjusted diluted earnings per share are useful in evaluating the Company’s operations as these measures are adjusted for items that affect comparability between periods. Segment income, adjusted free cash flow, net debt, adjusted net leverage ratio, adjusted net income, the adjusted effective tax rate, adjusted diluted earnings per share, net interest expense, EBITDA and adjusted EBITDA are derived from the Company’s Consolidated Statements of Operations, Cash Flows and Consolidated Balance Sheets, as applicable, and reconciliations to segment income, adjusted free cash flow, net debt, adjusted net leverage ratio, adjusted net income, the adjusted effective tax rate, adjusted diluted earnings per share and adjusted EBITDA can be found within this release. Reconciliations of estimated adjusted diluted earnings per share, adjusted free cash flow, the adjusted effective tax rates and adjusted net leverage ratio for the third quarter and full year of 2026 to estimated diluted earnings per share, operating cash flow, the effective tax rate and income from operations on a GAAP basis are not provided in this release due to the unavailability of estimates of the following, the timing and magnitude of which the Company is unable to reliably forecast without unreasonable efforts, which are excluded from estimated adjusted diluted earnings per share, the adjusted effective tax rates and adjusted net leverage ratio, and could have a significant impact on earnings per share, the effective tax rate and income from operations on a GAAP basis: gains or losses on the sale of businesses or other assets, restructuring and other costs, asset impairment charges, asbestos-related charges, losses from early extinguishment of debt, pension settlement and curtailment charges, the tax and noncontrolling interest impact of the items above, and the impact of tax law changes or other tax matters.

Conference Call

The Company will hold a conference call tomorrow, July 21, 2026, at 9:00 a.m. (EDT) to discuss this news release. Forward-looking and other material information may be discussed on the conference call. The dial-in numbers for the conference call are 630-395-0194 or toll-free 888-324-8108 and the access password is “packaging.” A live webcast of the call will be made available to the public on

Page 2 of 9

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

the internet at the Company’s website, www.crowncork.com. A replay of the conference call will be available for a one-week period ending at midnight on July 28, 2026. The telephone numbers for the replay are 203-369-0896 or toll free 866-427-6407.

Cautionary Note Regarding Forward-Looking Statements

Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors, including expected levels of capital expenditures, free cash flow and earnings; the Company’s ability to continue to operate its plants, distribute its products, and maintain its supply chain, including any impact of the ongoing Middle East conflict; the Company’s ability to complete the projects in Brazil, Greece, Spain and Northern India; the future impact of currency translation; the continuation of performance and market trends in 2026, including consumer preference for beverage cans and global beverage can demand; the future impact of inflation, including the potential for higher interest rates and energy and transportation prices and the Company’s ability to recover raw material and other inflationary costs, including tariffs and retaliatory trade measures; future demand for food cans; the Company’s ability to deliver continuous operational improvement and future demand in the Transit Packaging segment that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this press release or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2025 and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.

Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Tampa, Florida.

For more information, contact:

Kevin C. Clothier, Senior Vice President and Chief Financial Officer, (215) 698-5281

Thomas T. Fischer, Vice President, Investor Relations and Corporate Affairs, (215) 552-3720

Unaudited Consolidated Statements of Operations, Balance Sheets, Statements of Cash Flows, Segment Information and Supplemental Data follow.

Page 3 of 9

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

Consolidated Statements of Operations (Unaudited)

(in millions, except share and per share data)

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Net sales $ 3,668 $ 3,149 $ 6,927 $ 6,036

Cost of products sold 2,920 2,436 5,535 4,698

Depreciation and amortization 116 114 234 224

Selling and administrative expense 166 161 325 313

Restructuring and other 2 47 4 45

Income from operations (1)

464 391 829 756

Loss on debt extinguishment 1 3 1

Other pension and postretirement 5 (1) 10 4

Foreign exchange 3 9 11

Earnings before interest and taxes 456 382 816 740

Interest expense 105 103 202 202

Interest income (14) (14) (26) (27)

Income from operations before income taxes 365 293 640 565

Provision for income taxes 89 78 159 124

Equity earnings 1 1 2

Net income 276 216 482 443

Net income attributable to noncontrolling interests 31 35 62 69

Net income attributable to Crown Holdings $ 245 $ 181 $ 420 $ 374

Earnings per share attributable to Crown Holdings common shareholders:

Basic $ 2.24 $ 1.57 $ 3.80 $ 3.22

Diluted $ 2.23 $ 1.56 $ 3.78 $ 3.21

Weighted average common shares outstanding:

Basic 109,358,347 115,329,354 110,663,255 115,997,384

Diluted 109,798,634 115,841,544 111,154,898 116,462,524

Actual common shares outstanding at quarter end

108,766,371 116,393,989 108,766,371 116,393,989

(1) Reconciliation from income from operations to segment income follows.

Page 4 of 9

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

Consolidated Supplemental Financial Data (Unaudited)

(in millions)

Reconciliation from Income from Operations to Segment Income

The Company views segment income, as defined below, as a principal measure of performance of its operations and for the allocation of resources. Segment income is defined by the Company as income from operations adjusted to exclude intangibles amortization charges and provisions for restructuring and other.

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Income from operations $ 464 $ 391 $ 829 $ 756

Intangibles amortization 35 38 73 73

Restructuring and other 2 47 4 45

Segment income $ 501 $ 476 $ 906 $ 874

Segment Information

Net Sales Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Americas Beverage $ 1,699 $ 1,405 $ 3,229 $ 2,725

European Beverage 735 635 1,323 1,147

Asia Pacific 331 256 634 535

Transit Packaging 537 526 1,033 1,008

Other (1)

366 327 708 621

Total net sales $ 3,668 $ 3,149 $ 6,927 $ 6,036

Segment Income

Americas Beverage $ 265 $ 268 $ 475 $ 504

European Beverage 107 97 193 164

Asia Pacific 53 50 105 97

Transit Packaging 68 72 121 132

Other (1)

52 35 99 64

Corporate and other unallocated items (44) (46) (87) (87)

Total segment income $ 501 $ 476 $ 906 $ 874

(1) Includes the Company’s North America tinplate businesses: food can, aerosol can and closures, and beverage tooling and equipment operations in the U.S. and United Kingdom.

Page 5 of 9

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

Consolidated Supplemental Data (Unaudited)

(in millions, except per share data)

Reconciliation from Net Income and Diluted Earnings Per Share to Adjusted Net Income and Adjusted Diluted Earnings Per Share

The following table reconciles reported net income and diluted earnings per share attributable to the Company to adjusted net income and adjusted diluted earnings per share, as used elsewhere in this release.

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Net income/diluted earnings per share attributable to Crown Holdings, as reported $245 $2.23 $181 $1.56 $420 $3.78 $374 $3.21

Intangibles amortization (1)

35 0.32 38 0.33 73 0.66 73 0.62

Restructuring and other (2)

2 0.02 47 0.40 4 0.04 45 0.39

Loss on debt extinguishment 1 0.01 3 0.02 1 0.01

Other pension and postretirement (3)

(5) (0.04) (5) (0.04)

Income taxes (4)

(9) (0.08) (13) (0.11) (17) (0.15) (44) (0.38)

Noncontrolling interests (5)

(1) (0.01)

Adjusted net income/diluted earnings per share $273 $2.49 $249 $2.15 $482 $4.34 $444 $3.81

Effective tax rate as reported

24.4% 26.6% 24.8% 21.9%

Adjusted effective tax rate 24.4% 24.3% 24.4% 24.7%

Adjusted net income, adjusted diluted earnings per share and the adjusted effective tax rate are non-GAAP measures and are not meant to be considered in isolation or as a substitute for net income, diluted earnings per share and effective tax rates determined in accordance with U.S. generally accepted accounting principles. The Company believes these non-GAAP measures provide useful information to evaluate the performance of the Company’s ongoing business.

(1)In the second quarter and first six months of 2026, the Company recorded charges of $35 million ($27 million net of tax) and $73 million ($56 million net of tax) for intangibles amortization arising from prior acquisitions. In the second quarter and first six months of 2025, the Company recorded charges of $38 million ($29 million net of tax) and $73 million ($56 million net of tax) for intangibles amortization arising from prior acquisitions.

(2)In the second quarter and first six months of 2026, the Company recorded net restructuring and other charges of $2 million ($1 million net of tax) and $4 million ($5 million net of tax). In the second quarter and first six months of 2025, the Company recorded net restructuring and other charges of $47 million ($42 million net of tax) and $45 million ($40 million net of tax) primarily related to asset impairment charges in Asia Pacific, severance costs in the Transit Packaging segment and a reserve for a legal dispute.

(3)In the second quarter of 2025, the Company recorded a pension settlement gain of $5 million ($4 million net of tax), related to repayment of the contribution the Company made in 2021 to settle the U.K. defined pension plan.

(4)The Company recorded income tax benefits of $9 million and $17 million in the second quarter and first six months of 2026, primarily related to the items described above. The Company recorded income tax benefits of $13 million and $44 million in the second quarter and first six months of 2025, primarily related to an income tax benefit of $22 million from an internal reorganization in the first quarter of 2025 and the items described above.

(5)In the first six months of 2026, the Company recorded noncontrolling interest related to the items described above.

Page 6 of 9

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

Consolidated Balance Sheets (Condensed & Unaudited)

(in millions)

June 30, 2026 2025

Assets

Current assets

Cash and cash equivalents $ 656 $ 936

Receivables, net 1,999 1,864

Inventories 1,795 1,629

Prepaid expenses and other current assets 322 223

Total current assets 4,772 4,652

Goodwill and intangible assets, net 4,014 4,169

Property, plant and equipment, net 5,205 5,041

Other non-current assets 565 616

Total assets $ 14,556 $ 14,478

Liabilities and equity

Current liabilities

Short-term debt $ 44 $ 201

Current maturities of long-term debt 519 671

Accounts payable and accrued liabilities 3,988 3,501

Total current liabilities

4,551 4,373

Long-term debt, excluding current maturities 5,499 5,618

Other non-current liabilities 1,140 1,115

Noncontrolling interests 499 481

Crown Holdings shareholders’ equity

2,867 2,891

Total equity 3,366 3,372

Total liabilities and equity

$ 14,556 $ 14,478

Page 7 of 9

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

Consolidated Statements of Cash Flows (Condensed & Unaudited)

(in millions)

Six Months Ended June 30, 2026 2025

Cash flows from operating activities

Net income $ 482 $ 443

Depreciation and amortization 234 224

Restructuring and other 4 45

Pension and postretirement expense 19 14

Pension contributions (10) 22

Stock-based compensation 23 26

Loss on debt extinguishment 3

Working capital changes and other (96) (311)

Net cash provided by operating activities

659 463

Cash flows from investing activities

Capital expenditures

(203) (89)

Other

9 45

Net cash used for investing activities

(194) (44)

Cash flows from financing activities

Net change in debt 168 (83)

Dividends paid to shareholders (77) (60)

Common stock repurchased (517) (209)

Dividends paid to noncontrolling interests (41) (62)

Other, net (1)

(95) (13)

Net cash used for financing activities

(562) (427)

Effect of exchange rate changes on cash and cash equivalents (3) 30

Net change in cash and cash equivalents (100) 22

Cash and cash equivalents at January 1 879 1,016

Cash, cash equivalents and restricted cash at June 30 (2)

$ 779 $ 1,038

(1)Primarily consists of payments for assets financed in 2025.

(2)Cash and cash equivalents include $123 million and $102 million of restricted cash at June 30, 2026 and 2025.

Adjusted free cash flow is defined by the Company as net cash from operating activities less capital expenditures and certain other items. A reconciliation of net cash used for operating activities to adjusted free cash flow for the three and six months ended June 30, 2026 and 2025 follows.

Three Months Ended

June 30, Six Months Ended

June 30,

2026 2025 2026 2025

Net cash provided by operating activities $ 713 $ 449 $ 659 $ 463

Interest included in investing activities (3)

4 16 13

Capital expenditures (116) (56) (203) (89)

Adjusted free cash flow $ 601 $ 393 $ 472 $ 387

(3)Interest benefit of cross currency swaps included in investing activities.

Page 8 of 9

News Release

Corporate Headquarters

14025 Riveredge Drive, Suite 300

Tampa, FL 33637

Consolidated Supplemental Data (Unaudited)

(in millions)

Impact of Foreign Currency Translation – Favorable/(Unfavorable) (1)

Three Months Ended

June 30, 2026

Six Months Ended

June 30, 2026

Net Sales

Segment Income

Net Sales

Segment Income

Americas Beverage

$ 8 $ (1) $ 16 $ (3)

European Beverage

16 3 52 8

Asia Pacific

4 11 1

Transit Packaging

4 1 25 5

Corporate and Other

(1) 2

$ 32 $ 2 $ 106 $ 11

(1)The impact of foreign currency translation represents the difference between actual current year U.S. dollar results and pro forma amounts assuming constant foreign currency exchange rates for translation in both periods. In order to compute the difference, the Company compares actual U.S. dollar results to an amount calculated by dividing the current U.S. dollar results by current year average foreign exchange rates and then multiplying those amounts by the applicable prior year average foreign exchange rates.

Reconciliation of Adjusted EBITDA and Adjusted Net Leverage Ratio

June YTD 2026 June YTD 2025 Full Year 2025 Twelve Months Ended June 30, 2026

Income from operations $ 829 $ 756 $ 1,553 $ 1,626

Add:

Intangibles amortization 73 73 148 148

Restructuring and other 4 45 83 42

Segment income 906 874 1,784 1,816

Depreciation 161 151 308 318

Adjusted EBITDA $ 1,067 $ 1,025 $ 2,092 $ 2,134

Total debt $ 5,964 $ 6,062

Less cash 764 656

Net debt $ 5,200 $ 5,406

Adjusted net leverage ratio 2.5x 2.5x

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Name of the state or province.

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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Exchange Act

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-Section 12

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Indicate if registrant meets the emerging growth company criteria.

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-Number 240

-Section 12

-Subsection b-2

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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-Publisher SEC

-Name Exchange Act

-Number 240

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

-Name Exchange Act

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Local phone number for entity.

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No definition available.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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Title of a 12(b) registered security.

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Name of the Exchange on which a security is registered.

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-Number 240

-Section 12

-Subsection d1-1

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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Trading symbol of an instrument as listed on an exchange.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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-Name Securities Act

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-Section 425

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