AddedRisk Factors
Integration — We may face challenges with integrating acquisitions and achieving the financial and other results and benefits anticipated at the time of acquisition.
AMCRAmcor
Amcor plc (ARBN 630 385 278) is a public limited company incorporated under the Laws of the Bailiwick of Jersey. 10-K, Item 1
- Employees
- 75,000
- Headquarters
- Warmley, Bristol
- CEO
- Peter Konieczny
- Next results
- around Feb 2, 2027
10-K 0001748790-26-000022 (2026-08-14) vs 10-K 0001748790-25-000023 (2025-08-15)
| Section | Compared text | Words now | Changed |
|---|---|---|---|
| Risk Factors | Item 1A | 10,469 | 20.9% |
| MD&A | Item 7 | 8,638 | 21.4% |
| Legal Proceedings | Item 3, via Note 20 – Contingencies and Legal Proceedings | 620 | 0.0% |
| Accounting Policies | Item 8, Note 2 – Significant Accounting Policies | 5,160 | 12.8% |
The redline: what was cut and what was added
In each section, the paragraph that changed most, marked against last year's 10-K:
cut words struck through, new words highlighted and underlined.
MD&A 185 words changed in this paragraph; it is 35% similar to last year's version.
Market dynamics remain have remained challenging with during fiscal year 2026, reflecting softer consumer demand and customer order volatility in certain markets, and higher costs cost pressures in certain areas, including labor costs, during fiscal year 2025. Despite these hurdles, we have benefited from overall sales volume growth of approximately 1% during fiscal year 2025 compared to the prior fiscal year, with sales volumes in North America generally softening sequentially in the second half of fiscal year 2025. The underlying causes for the market volatility being experienced can be attributed to costs. These conditions were driven by a variety combination of factors, such as including ongoing geopolitical tension tensions and conflicts, volatility and changes in U.S. domestic and global tariff frameworks frameworks, and persistent inflation in across many economies impacting economies, all of which have adversely affected consumption and consumer demand. Rapid changes shifts in U.S. trade policies, including the announcement of wide-spread tariff increases which were paused and then re-announced, amid persistent inflation policy, together with sustained inflationary pressures in the U.S., has resulted in lower consumer United States, have further contributed to global market uncertainty and uneven demand across many categories. Recent finalization of U.S. trade agreements with certain trading partners, including the United Kingdom and the European Union, helps to reduce trade tensions, but the overall impact of these agreements remains uncertain as many details still need to be negotiated. several end markets.
Source: Item 7, 10-K 0001748790-26-000022 vs Item 7, 10-K 0001748790-25-000023
Risk Factors 157 words changed in this paragraph; it is 57% similar to last year's version.
We are subject to income and other taxes in the many jurisdictions in which we operate. Tax laws and regulations are complex and the determination of our global provision for income taxes and current and deferred tax assets and liabilities requires judgment and estimation. We are subject to routine examinations of our income tax returns, and tax authorities may disagree with our tax positions and assess additional tax. Our future income taxes could also be negatively impacted by our mix of earnings in the jurisdictions in which we operate being different than anticipated given differences in statutory tax rates in the countries in which we operate. In addition, we may be adversely impacted by certain tax policy efforts, including any tax law changes resulting from the Organization for Economic Cooperation and Development ("OECD") and the G20's inclusive framework on Base Erosion and Profit Shifting ("BEPS"), which has proposed a 15% global minimum tax applied on a country-by-country basis (the "Pillar Two rule"), and many countries (including countries in which we operate) have enacted or begun the process of enacting laws adopting the Pillar Two rule. The first component of the Pillar Two rule applied to us from July 1, 2024. While we do not currently expect the Pillar Two rule to have a material impact on our effective tax rate, our analysis is ongoing as the OECD continues to release guidance and as countries begin implementing legislation. Future developments could change our current assessment, and it is possible that the Pillar Two rule could adversely impact our tax rate and subsequent tax expense.
Source: Item 1A, 10-K 0001748790-26-000022 vs Item 1A, 10-K 0001748790-25-000023
Accounting Policies 95 words changed in this paragraph; it is 31% similar to last year's version.
In fiscal year 2025, 2026, the Company performed qualitative quantitative impairment tests for its two reporting units to determine whether or not indicators of impairment existed. The Company evaluated factors including, but not limited to, macro-economic conditions, market and industry conditions, competitive environment, results of prior impairment tests, operational stability, the overall financial performance of our reporting units and the impacts of discount rates. As a result of the qualitative assessment, no indicators of impairment were identified and the Company concluded that goodwill was not impaired. impaired as the fair value of the reporting units substantially exceeded their carrying values. There were no events or circumstances which indicated goodwill might be impaired as of June 30, 2026.
Source: Item 8, Note 2 – Significant Accounting Policies, 10-K 0001748790-26-000022 vs Item 8, Note 2 – Significant Accounting Policies, 10-K 0001748790-25-000023
Every change, by type
Sentences and paragraphs of AMCR's Risk Factors and MD&A, 10-K 2026-08-14 against 10-K 2025-08-15. Each links to the text at sec.gov.
Quiet changes are sentences kept from last year with one to four words changed, at least one of them a hedge, a modal or a qualifier
(may, could, will, not, significant, material…). A year or date rolling forward is not counted.
The full word list
adverse, adversely, all, although, anticipate, anticipates, any, approximately, believe, believes, can, cannot, certain, could, expect, expects, generally, however, if, intend, intends, largely, likely, many, material, materially, may, might, most, must, never, no, not, possible, primarily, probable, should, significant, significantly, some, substantial, substantially, unlikely, will, would
AddedRisk Factors
We may face challenges in integrating our acquisitions with our existing operations. The successful integration of acquisitions is complex and potential difficulties we may encounter as part of any integration process include, but are not limited to, the following: employees may voluntarily or involuntarily separate from employment with us or the acquired businesses because of the acquisitions; our management may have its attention diverted while trying to integrate the acquired businesses; we may encounter obstacles when incorporating the acquired businesses into our operations and management; we may be required to recognize impairment charges; integration may be more costly or more time consuming and complex or less effective than anticipated; and increased risk of cybersecurity incidents. Future acquisitions also could result in potentially dilutive issuances of equity securities, the incurrence of debt, contingent liabilities, and depreciation and amortization expenses related to certain tangible and intangible assets and increased operating expenses, all of which could, individually or collectively, adversely affect our business, financial condition, results of operations, and cash flows.
AddedRisk Factors
We generally expect that we will realize synergy cost savings and other financial and operating benefits from our acquisitions. For example, we expect the Merger with Berry completed in 2025 will generate estimated pre-tax annual net cost synergies by the end of the third-year post Merger of approximately $650 million from procurement, manufacturing, general and administrative, financial and revenue synergies. While we are currently on track to achieve the targeted Berry synergies, we cannot predict with certainty that the full savings will be realized or current savings will be sustained. If we are not able to successfully integrate our acquisitions and achieve the expected synergy cost savings, the anticipated benefits of the transaction may not be realized fully, or at all, or may take longer to realize than expected or involve more costs than expected.
AddedRisk Factors
Strategic Review of Portfolio — Our strategic review of our portfolio may cause disruptions to our business, may not result in the completion of transactions to restructure or divest all non-core businesses, and may not create additional value for our shareholders.
AddedRisk Factors
In August 2025, we announced that we had completed a review of portfolio-related strategic alternatives and identified businesses with combined sales of approximately $2.5 billion for further investigation, which could result in restructuring or sale of the identified businesses, among other options. While we have completed, or are in the process of completing, transactions to divest non-core businesses comprising approximately $500 million of the total non-core portfolio identified, there is no assurance as to the timeline or outcome of the completion of the strategic review process, including that actions taken will increase shareholder value. In addition, the strategic review process may require the deployment of significant resources and expenses and may cause disruption in our business given speculation and uncertainty around our ultimate actions. If we are unable to mitigate these or other potential risks related to our strategic review of our portfolio, then this process may adversely impact our business, financial condition, results of operations, or cash flows.
AddedRisk Factors
We are increasingly leveraging AI technologies, including data analytics and machine learning, across our business, including in R&D, operational processes, and other functional areas. While these technologies present opportunities to enhance efficiency, innovation, and decision-making, they may not perform as intended and could generate outputs that are inaccurate, incomplete, or unreliable.
AddedRisk Factors
The development and deployment of AI involves significant operational, legal, regulatory, and reputational risks, and there can be no assurance that our use of AI will result in the anticipated benefits. In addition, our vendors and third-party partners may incorporate AI into their products or services in ways that do not comply with existing or evolving laws, regulations, or industry standards, which could expose us to additional risk.
AddedRisk Factors
Further, the unauthorized or improper use of open-source AI tools or generative platforms by employees or third parties could result in the inadvertent disclosure or misuse of our confidential information or intellectual property. Any of these factors could adversely impact our business, financial condition, and results of operations.
AddedRisk Factors
information, which could lead to a material adverse effect on our operations, loss of investor confidence, and a negative impact on the trading price of our common stock.
AddedRisk Factors
We are, and in the future will likely become, involved in lawsuits, regulatory inquiries, and governmental and other legal proceedings that arise in the ordinary course of our business, including product liability claims, which may lead to
AddedRisk Factors
As a plastics packaging manufacturer, we face risks associated with inadvertent releases of plastic materials and other chemicals used in our operations, as well as the downstream management of our products at the end of their useful lives. Legislative and regulatory activity relating to plastic packaging, recycling, waste management, and EPR programs has increased in many jurisdictions and is expected to continue evolving. Such developments may result in product bans or restrictions on certain packaging formats or materials or could impose additional compliance obligations, taxes, fees, or investment requirements and/or operational adjustments, and could result in increased costs, litigation, penalties, reputational harm, unplanned capital expenditures or other liabilities that may adversely affect our business, financial condition, results of operations, or cash flows.
AddedRisk Factors
Biodiversity-related incidents or alleged impacts in our value chain could expose us to increased compliance costs due to increasingly stringent regulations, and potential fines, legal penalties, and enforcement actions if requirements are not met.
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RemovedRisk Factors
RewordedRisk Factors
RewordedRisk Factors
Recent global economic challenges, including the conflict between Russia and Ukraine, the current Middle East conflict, tensions between China and Taiwan, conflict and relatively high inflation and interest rates in certain regions, which have substantially increased the cost of energy and many of the raw materials we use to produce packaging while also disrupting global supply chains, may continue to put pressure on our business.
RewordedRisk Factors
In addition, failure to maintain adequate internal controls could result in financial statements that do not accurately reflect our financial condition, and we may be required to restate previously published financial information, which could lead to a material adverse effect on our operations, loss of investor confidence, and a negative impact on the trading price of our common stock.
RewordedRisk Factors
A failure, or perceived failure, to respond to expectations of all parties, including with meeting our own climate-related and other ESG target ambitions, whether due to our own actions or the inability of participants in our value chain to reduce emissions or otherwise support our climate objectives, could cause harm to our business and reputation and have a negative impact on the trading price of our common stock.
RewordedRisk Factors
However, if our derivative instruments are not effective in mitigating our interest rate risk, if we are under-hedged, or if a hedge provider defaults on their obligations under hedging arrangements, it could have a material adverse impact on our business, financial condition, results of operations, or cash flows.
RewordedRisk Factors
For example, we have made a public commitment to achieve net zero greenhouse gas emissions by 2050 and have set long-term emissions targets which were approved by the Science Based Targets initiative ("SBTi") and we are planning on re-submitting combined company targets given the Merger with Berry. SBTi.
RewordedRisk Factors
Sales of our products and services depend heavily on the volume of are closely tied to our customers' sales made by our customers volumes to end consumers.
RewordedRisk Factors
Continued escalation of geopolitical tensions, including the conflict in the Middle East and tensions between China and Taiwan, could result in the loss of property, supply chain disruptions, significant inflationary pressure on raw material prices and other resources (such as energy and natural gas), fluctuations in our customers’ buying patterns given regional shortages of food ingredients and other factors, lower demand by end consumers given rising inflation, enhanced risks to our global technology infrastructure (such as through cyberattack or ransomware attack), exposure to foreign currency fluctuations, credit and capital market disruption which could impact our ability to obtain financing, increase increased interest rates, the loss of property, and adverse foreign exchange impacts.
RewordedRisk Factors
Goodwill and Other Intangible Assets — As a result A significant write-down of the Merger, our goodwill and and/or other intangible assets have increased significantly, and a significant impairment would have a material adverse effect on our reported results of operations and financial position.
RewordedRisk Factors
Prices for these raw materials are subject to substantial fluctuations that are beyond our control due to factors such as changing economic conditions (including inflation), currency and commodity price fluctuations, resource availability and other supply chain challenges, transportation costs, geopolitical risks (including the conflicts conflict in the Middle East and between Russia and Ukraine, and in the Middle East), Ukraine), pandemics and other health crises, an increase in the demand for products manufactured from recycled materials, weather conditions and natural disasters, environmental regulations related to greenhouse gas emissions, product circularity, biodiversity and deforestation, human rights due diligence regulations, and other factors impacting supply and demand pressures.
RewordedRisk Factors
RewordedRisk Factors
We rely on the successful and uninterrupted functioning of our information technology and control systems systems, which includes operating multiple enterprise resource planning systems, to securely manage support critical business operations and various business functions, and on various technologies to process, store, and report information about our business, and to interact with customers, suppliers, and employees around the world.
Quiet changesRisk Factors
Quiet changesRisk Factors
To date, we have not experienced any significant material impacts.
AddedMD&A
On January 14, 2026, the Company filed an amendment to its memorandum of association to effect a 1-for-5 reverse stock split (the "Reverse Split"). The Reverse Split became effective on January 14, 2026. In connection with the Reverse Split, the par value of the Company's ordinary shares was increased to $0.05 and the Company's number of ordinary shares authorized was reduced to 1,800 million ordinary shares. All prior year ordinary share and per share amounts throughout this Management's Discussion and Analysis of Financial Condition and Results of Operations have been retroactively adjusted to reflect the effects of the Reverse Split.
AddedMD&A
In the third quarter of fiscal year 2026, we began reporting certain flexible operations in Latin America that were previously reported in our Global Flexible Packaging Solutions reportable segment in our Global Rigid Packaging Solutions reportable segment as we have consolidated management of our flexible and rigid packaging solutions operations in Latin America under one management team and our Chief Operating Decision Maker reviews results under this new structure. Prior period amounts have been recast to conform with current period presentation.
AddedMD&A
In May 2026, our Board of Directors approved a change in our fiscal year end from June 30 to December 31. The fiscal year end change will be effective for the period beginning July 1, 2026.
AddedMD&A
The Company incurred $104 million in employee related expenses, $26 million in other restructuring activities, $45 million in restructuring related expenses, and $19 million on fixed asset related items (net of gains on asset disposals), with
AddedMD&A
In August 2025, we announced that we are reviewing strategic alternatives to maximize the value of our portfolio and have identified businesses with combined sales of $2.5 billion, which includes our North American Beverage business, for further review given they are less aligned with one or more core portfolio attributes including attractive growth and margin
AddedMD&A
profile, industry structure, and scale and leadership position. Possible actions for these businesses include and are not limited to restructuring, partnership and joint venture ownership models, cash sales or a combination thereof. In fiscal year 2026, we sold four businesses identified as part of the strategic review for cash proceeds of $298 million, excluding deferred consideration. We also sold our investment in ePac for estimated proceeds of $79 million, including contingent and deferred consideration. Refer to Note 4 - "Acquisitions and Divestitures" for further information. While we continue to progress in our strategic alternatives review, we have not identified a set deadline or definitive timetable for completion of the strategic alternatives review process and related actions. Refer to the risk factor captioned "Strategic Review of Portfolio" in "Item 1A. - Risk Factors" of this Annual Report on Form 10-K for additional information.
AddedMD&A
Market dynamics have remained challenging during fiscal year 2026, reflecting softer consumer demand and customer order volatility in certain markets, and cost pressures in certain areas, including labor costs. These conditions were driven by a combination of factors, including ongoing geopolitical tensions and conflicts, volatility and changes in U.S. domestic and global tariff frameworks, and persistent inflation across many economies, all of which have adversely affected consumption and consumer demand. Rapid shifts in U.S. trade policy, together with sustained inflationary pressures in the United States, have further contributed to global market uncertainty and uneven demand across several end markets.
AddedMD&A
During fiscal year 2026, the escalation of conflict in the Middle East disrupted global energy markets, resulting in higher energy prices beginning in the third quarter of fiscal year 2026. These increases have had an unprecedented impact on the cost of certain raw materials used in the manufacturing and transportation of our products. The evolving geopolitical situation has also contributed to disruptions in global logistic networks and heightened supply-chain risks, particularly in Asia. Continued uncertainty surrounding the conflict and fragile diplomatic efforts has contributed to ongoing volatility in energy and raw material prices and supply chain conditions. While we generally source and manufacture our products in the local markets in which they are sold and do not have operations in the Middle East, continued volatility in tariffs, energy markets, and global logistics may negatively impact customer and consumer demand, disrupt our supply chains, and further increase inflationary pressures. Such conditions may also result in higher operating costs and increased working capital requirements.
AddedMD&A
In response to these conditions, we have remained focused on executing price and cost actions to mitigate the impact of cost inflation and on aligning our cost base with prevailing market conditions, and we expect to continue these efforts. However, these actions may not be sufficient to fully offset the effects of these macroeconomic and geopolitical factors. There is no assurance that ongoing geopolitical tensions, including tariff-related developments and other macroeconomic factors, will not negatively impact our business, financial condition, results of operations, or cash flows. Refer to the risk factor captioned "Trade Policy - Our business may be impacted by changes to trade policy, including tariff and custom regulations, or failure to comply with such regulations may have an adverse effect on our reputation, business, financial condition and results of operations" in "Item 1A. - Risk Factors" of this Annual Report on Form 10-K for additional information.
AddedMD&A
(8)Portfolio review expenses includes impairment and other incremental expenses incurred in connection with the strategic review of the Company's portfolio alternatives.
AddedMD&A
(1)On April 30, 2025, in connection with the consummation of the Merger and Amcor plc’s consent solicitations from the holders of the 1.650% First Priority Senior Secured Notes due 2027, 5.500% First Priority Senior Secured Notes due 2028, 5.800% First Priority Senior Secured Notes due 2031, and 5.650% First Priority Senior Secured Notes due 2034 issued by Berry ("Consent Solicitation Notes"), Amcor plc provided a guarantee of each series of Consent Solicitation Notes and, as a result, among other things, the liens on all of the collateral of Berry granted to secure each such series of Consent Solicitation Notes were released.
AddedMD&A
other subsidiaries guarantee such notes. The issuers and guarantors conduct large parts of their operations through other subsidiaries of Amcor plc.
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RemovedMD&A
RewordedMD&A
Excluding the positive impacts from the Merger Merger, net of divestments, of approximately 62%, partially offset by the negative impacts from disposed operations of $12 million $635 million, or 146% and the negative positive currency impacts of $7 $42 million, the remaining variation in adjusted EBIT for fiscal year 2025 2026 was a decrease an increase of $25 $64 million, or 10%, 15%, reflecting synergy benefits from the net Merger and operating cost performance of approximately 26%, partially offset by the negative effect of 9% approximately 11% from unfavorable volumes and an unfavorable price/mix impact on lower earnings of approximately 17%, partially offset by strong cost performance of approximately 16%. in non-core businesses.
RewordedMD&A
As of June 30, 2025 2026 Obligor Group 1 Obligor Group 2 Obligor Group 3 Assets Current assets - external $ 2,620 $ 274 $ 2,620 3,886 Current assets - due from subsidiaries outside the Obligor Group 212 — 212 272 Total current assets 2,832 274 2,832 4,158 Non-current assets - external 3,187 1,784 3,187 3,196 Non-current assets - due from subsidiaries outside the Obligor Group 11,806 1,134 11,806 14,886 Total non-current assets 14,993 2,918 14,993 18,082 Total assets $ 17,825 $ 3,192 $ 17,825 22,240 Liabilities Current liabilities - external $ 4,534 $ 2,478 $ 4,534 6,661 Current liabilities - due to subsidiaries outside the Obligor Group 1,069 1,034 35 68 Total current liabilities 5,603 3,512 4,569 6,729 Non-current liabilities - external 15,154 6,199 15,154 14,821 Non-current liabilities - due to subsidiaries outside the Obligor Group 7,060 669 7,060 (1) 9,277 Total non-current liabilities 22,214 6,868 22,214 24,098 Total liabilities $ 27,817 $ 10,380 $ 26,783 30,827
RewordedMD&A
This is mainly due to increased gross profit of $1,856 million, increased other income, net of $113 million, increased interest income of $17 million, and lower restructuring, transaction and integration expenses expenses, net of $210 $9 million associated with the Merger, partially offset by higher selling, general, and administrative expenses of $112 $726 million primarily due to the Merger, increase in amortization of acquired intangible assets of $79 $312 million due to the Merger, increased interest expense of $48 $280 million due primarily to Merger related financing and assumed debt, partially offset by the increase increased research and development expenses of gross profit of $122 million, other income/(expenses), net of $88 $50 million, and a decrease in higher income tax expense of $28 $46 million.
RewordedMD&A
Excluding the positive impacts from the Merger Merger, net of divestments, of approximately 4%, partially offset by $250 million or 18%, and the negative positive currency impacts of $10 approximately $34 million, the remaining variation in Adjusted EBIT for fiscal year 2025 2026 was an increase of $23 approximately $107 million or 2%, 8%, mainly reflecting higher synergy benefits from the Merger, operating cost performance and productivity benefits of approximately 12%, partially offset by lower volumes of approximately 5%, strong cost performance of approximately 11%, partially offset by 3%, and unfavorable impacts from price/mix of approximately 14%. 1%.
RewordedMD&A
Excluding the increase of sales from the Merger Merger, net of divestments, of approximately 35%, $7,864 million, or 52%, the negative impacts from disposed operations of $100 million, the negative positive currency impacts of $46 approximately $649 million, and the negative impact positive impacts from the pass-through of lower higher raw material costs of $31 approximately $240 million, the remaining variation in net sales for fiscal year 2025 2026 was a decrease of $139 million, approximately $260 million or 4%, 2%, primarily reflecting unfavorable volumes of approximately 2% and unfavorable price/mix benefits of approximately 2%. lower sales volume.
RewordedMD&A
Excluding the increase of sales from the Merger Merger, net of divestments, of approximately 35%, $2,240 million, or 22%, the negative impacts from disposed operations of $100 million, the negative positive currency impacts of $46 approximately $333 million, and the negative impact positive impacts from the pass-through of lower higher raw material costs of $31 approximately $240 million, the remaining variation in net sales for fiscal year 2025 2026 was a decrease of $139 approximately $50 million, or 4%, reflecting unfavorable sales volumes of approximately 2% and unfavorable 1%, partially offset by favorable price/mix benefits of approximately 2%. impact.
RewordedMD&A
Excluding the increase of sales from the Merger Merger, net of divestments, of approximately 35%, $5,624 million, or 114%, and the negative impacts from disposed operations of $100 million, the negative positive currency impacts of $46 million, and the negative impact from the pass-through of lower raw material costs of $31 $318 million, the remaining variation in net sales for fiscal year 2025 2026 was a decrease of $139 $208 million, or 4%, reflecting unfavorable volumes of approximately 2% 3% and unfavorable price/mix benefits of approximately 2%. 1%.
RewordedMD&A
For the year ended June 30, 2025 2026 Obligor Group 1 Obligor Group 2 Obligor Group 3 Net sales - external $1,104 $124 $1,104 $ 1,804 Net sales - to subsidiaries outside the Obligor Group 11 — 11 Total net sales $1,115 $124 $1,115 $ 1,815 Gross profit 275 45 275 390 Net income loss (1) $780 $1,126 $780 $ (5,504) Net income attributable to non-controlling interests — — — Net income loss attributable to Obligor Group $780 $1,126 $780 $ (5,504)
RewordedMD&A
The change is primarily driven by higher cash outflow resulting outflows from the repayment purchases of debt upon consummation of the merger with Berry partially property, plant, and equipment, offset by the proceeds received from the sale of Bericap in businesses during the current period and lower cash outflows related to the Merger during the prior period.
RewordedMD&A
The change was a result of a decrease in transaction and integration costs of $202 $137 million incurred in connection with the Merger during the current period, and accelerated merger-related compensation expense of $41 million, partially offset by a decrease an increase in restructuring restructuring, integration, and other related expenses, net, net of $33 $169 million.
RewordedMD&A
The Notes consist of (i) $725 €750 million principal amount of 4.800% 3.20% Guaranteed Senior Notes due 2028, 2029 and (ii) $725 €750 million principal amount of 5.100% 3.75% Guaranteed Senior Notes due 2030 and (iii) $750 million principal amount of 5.500% Guaranteed Senior Notes due 2035. 2033.
RewordedMD&A
Quiet changesMD&A
The guarantees will be are unsecured and unsubordinated obligations of the guarantors and will rank equally with all existing and future unsecured and unsubordinated debt of each guarantor.
Work on AMCR in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/AMCR/export.csv") into a cell.