欧文斯伊利诺斯玻璃 2025年度报告

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☒ The aggregate market value (based on the consolidated tape closing price on June 30, 2025) of the voting and non-voting commonequity held by non-affiliates of the Company was approximately $1,134,960,000. For the sole purpose of making this calculation, the term“non-affiliate” has been interpreted to exclude directors and executive officers of the Company. Such interpretation is not intended to be, andshould not be construed to be, an admission by the Company or such directors or executive officers of the Company that such directors andexecutive officers of the Company are “affiliates,” as that term is defined under the Securities Act of 1934. Portions of the O-I Glass, Inc. Proxy Statement for the Annual Meeting of Share Owners to be held Wednesday, May 13, 2026 (“2026Proxy Statement”) are incorporated by reference into Part III hereof. TABLE OF CONTENTS PARTIITEM1. BUSINESS1ITEM 1A. RISK FACTORS9ITEM 1B.UNRESOLVED STAFF COMMENTS23ITEM 1C.CYBERSECURITY23ITEM 2.PROPERTIES26ITEM 3.LEGAL PROCEEDINGS28ITEM 4.MINE SAFETY DISCLOSURES28 PART II29ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREOWNER MATTERSAND ISSUER PURCHASES OF EQUITYSECURITIES29ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS31ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUTMARKET RISK48ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA51ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING ANDFINANCIAL DISCLOSURE102ITEM 9A. CONTROLS AND PROCEDURES102ITEM 9B.OTHER INFORMATION106ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THATPREVENT INSPECTIONS106 PART III106ITEM 10.DIRECTORS, EXECUTIVE OFFICERS AND CORPORATEGOVERNANCE106ITEM 11.EXECUTIVE COMPENSATION106ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS ANDMANAGEMENT ANDRELATED STOCKHOLDER MATTERS107ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, ANDDIRECTOR INDEPENDENCE107ITEM 14.PRINCIPAL ACCOUNTANT FEES AND SERVICES107 PART IV108ITEM 15.EXHIBITS AND FINANCIAL STATEMENT SCHEDULES108ITEM 16.FORM 10-K SUMMARY116 EXHIBITS109 SIGNATURES117 PART I ITEM 1.BUSINESS General Development of Business O-I Glass,Inc., a Delaware corporation (the “Company”), through its subsidiaries, is thesuccessor to a business established in 1903. The Company is one of the leading manufacturers ofglass containers in the world with 64glass manufacturing plants in 18 countries. It competes in theglass container segment of the rigid packaging market and is the leading glass containermanufacturer in most of the countries where it has manufacturing facilities. Beginning in 2024, the Company commenced a strategic review of its global profitability andmanufacturing footprint, known as itsFit to Win initiative. This program is focused on the reductionof redundant production capacity and the optimization of its network, as well as streamlining othercosts, such as selling, general and administrative expenses.The Fit to Win initiative is expected tolast at least through 2026.Since undertaking this review, the Company has announced the idling ofcapacity or closing of a number of facilities and job eliminations.The Company believes theseactions will contribute to optimizing shareholder returns. Company Strategy The Company has established a new vision: Together, we put the power of glass within reach ofeveryone, every day. To achieve this, the Company has developed a value creation roadmap thatguides its strategic initiatives over three horizons: Horizon 1: Fit to Win- The immediate focus is on reducing the cost base to enhance theCompany’s competitive position, which will improve performance, create shareholder value, andenable future profitable growth. This involves reshaping selling, general, and administrativeexpenses, enhancing total organizational effectiveness, and optimizing the value chain and itsnetwork. By improving productivity and reducing costs, the Company aims to drive economies ofscale across the manufacturing network. Horizon 2: Profitable Growth- Leveraging its cost advantage, the Company will improve itsproduct mix and access growth by winning with customers in core markets and competingeffectively with alternative packaging solutions like aluminum cans. The objective is to realign theCompany’s network to be the lowest cost in mainstream and the best cost in premium segments.This will enable the Company to expand market presence and put glass in more hands and homesglobally. Horizon 3: Strategic Optionality- Looking ahead, the Company will explore new growthinitiatives such as geographical expansion, mergers and acquisitions, joint ven