O-I Glass (OI) risk factors, FY2025 10-K

Risks Related to the Company’s Business and Industry

1. 01Global Economic and Legal Environment—The global credit, financial, political, economic and legal environment could have a material adverse effect on operations and financial condition30% rewritten
2. 02Energy Costs or Availability—Higher energy costs worldwide and interrupted power supplies, including as a result of the current conflicts between Russia and Ukraine and Hamas and Israel and any escalation of these conflicts, may have a material adverse effect on the Company’s consolidated assets or operations
3. 03Competition—The Company faces intense competition from other glass container producers and makers of alternative forms of packaging, as well as consolidation among competitors. Competitive pressures could adversely affect the Company’s financial health25% rewritten
4. 04Lower Demand Levels—Changes in consumer preferences or customer inventory management practices could have a material adverse effect on the Company’s financial results
5. 05Customer Consolidation—The continuing consolidation of the Company’s customer base may intensify pricing pressures and have a material adverse effect on operations87% rewritten
6. 06customer and the company acquired. Increased pricing pressures from the Company’s customers may have a material adverse effect on operationsNew
7. 07Improvements to Glass Melting Technology—The Company’s inability to improve new glass melting technology in a cost-effective manner and introduce productivity, process and network optimization actions may affect its ability to transition to lower-carbon processes and competitivenessNew
8. 08Supply Chain Disruptions—The Company’s capital expenditure plans have been, and may continue to be, affected by supply chain disruptions
9. 09Operational Disruptions—Profitability could be affected by unanticipated operational disruptions
10. 10Raw Materials—Profitability could be affected by the availability and cost of raw materials
11. 11Transportation—Profitability could be affected by the availability and cost of transportation for the Company’s products
12. 12Seasonality—Profitability could be affected by varied seasonal demands
13. 13Joint Ventures—Failure by joint venture partners to observe their obligations or commit additional capital could have a material adverse effect on operations
14. 14Labor—Some of the Company’s employees are unionized or represented by workers’ councils, and its business could be affected by labor shortages and labor cost increases
15. 15Business Integration Risks—The Company may not be able to effectively integrate additional businesses it acquires in the future
16. 16Goodwill—A significant write-down of goodwill would have a material adverse effect on the Company’s reported results of operations and net worth24% rewritten
17. 17Pension Funding—An increase in the underfunded status of the Company’s pension plans could adversely impact the Company’s operations, financial condition and liquidity23% rewritten

Risks Related to Information Technology, Cybersecurity and Data Privacy

1. 18Information Technology—Failure or disruption of the Company’s information technology, or those of third parties, could have a material adverse effect on its business and results of operations
2. 19Cybersecurity and Data Privacy—Security incidents affecting the Company or critical third-party service providers could materially impact its business, reputation and results of operations by disrupting business operations or compromising critical and confidential information

Risks Related to the Company’s Indebtedness

1. 20The Company has a significant amount of debt. As of both December 31, 2025 and December 31, 2024, the Company had approximately $5.0 billion of total debt outstanding
2. 21Ability to Service Debt—To service its indebtedness, the Company will require a significant amount of cash. The Company’s ability to generate cash and refinance certain indebtedness depends on many factors beyond its control
3. 22Debt Restrictions—The Company may not be able to finance future needs or adapt its business plans to changes because of restrictions placed on it by the secured credit agreement and the indentures and instruments governing other indebtedness

Risks Related to the Company’s International Operations

1. 23International Operations—The Company is subject to risks associated with operating in foreign countries89% rewritten
2. 24Foreign Currency Exchange Rates—The Company is subject to the effects of fluctuations in foreign currency exchange rates, which could adversely impact the Company’s financial results

Risks Related to Legal and Regulatory Matters, Sustainability and Climate Change

1. 25Taxes—Potential tax law and global trade policy changes could adversely affect net income and cash flow36% rewritten
2. 26Environmental Risks—The Company is subject to various environmental legal requirements and may be subject to new legal requirements in the future. These requirements may have a material adverse effect on operations
3. 27Glass Recycling, Deposit Return Systems, Extended Producer Responsibility and Recycled Content Requirements—The Company’s business and its ability to meet climate-change goals may be impacted by recycling and recycled-content laws and regulations
4. 28Climate Change and Air Emissions—The Company’s business, ability to meet climate-change goals, and transition to lower-carbon processes may be impacted by new, changed, or increased regulations or requirements relating to air emissions and the use of fossil fuels, or by the physical impacts of climate change74% rewritten
5. 29is less than its allocation, the excess allowances can be sold. The Company annually purchases additional allowances under the EUETSNew
6. 30ESG Scrutiny—Increased environmental, social and governance (ESG) scrutiny and changing expectations from stakeholders may impose additional costs or additional risks78% rewritten
7. 31ESG issues, regardless of whether there is a legal requirement to do so, may suffer from reputational damage and the business, financial condition or stock price of such a company could be materially and adversely affectedNew