Reynolds Consumer Products Files 2024 10-K

Ticker: REYN · Form: 10-K · Filed: Feb 5, 2025 · CIK: 1786431

Reynolds Consumer Products Inc. 10-K Filing Summary
FieldDetail
CompanyReynolds Consumer Products Inc. (REYN)
Form Type10-K
Filed DateFeb 5, 2025
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: 10-K, annual-report, consumer-products

TL;DR

Reynolds Consumer Products filed its 2024 10-K. Full financials and business details inside.

AI Summary

Reynolds Consumer Products Inc. filed its 2024 10-K on February 5, 2025, reporting on its fiscal year ending December 31, 2024. The company, headquartered in Lake Forest, IL, operates in the plastics, foil & coated paper bags industry. Key financial details and business operations for the period are outlined in the filing.

Why It Matters

This filing provides investors and stakeholders with a comprehensive overview of Reynolds Consumer Products' financial performance and business activities for the fiscal year 2024, including risks and strategic outlook.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.

Key Players & Entities

FAQ

What is the primary business of Reynolds Consumer Products Inc.?

Reynolds Consumer Products Inc. operates in the Plastics, Foil & Coated Paper Bags industry, as indicated by its SIC code [2673].

When was the 10-K filing submitted?

The 10-K filing was submitted on February 5, 2025.

What fiscal year does this 10-K report cover?

This 10-K report covers the fiscal year ending December 31, 2024.

Where is Reynolds Consumer Products Inc. headquartered?

Reynolds Consumer Products Inc. is headquartered in Lake Forest, Illinois, with its business and mail address listed as 1900 W. Field Court, Lake Forest, IL 60045.

What is the company's IRS number?

The company's IRS number is 453464426.

Filing Stats: 4,509 words · 18 min read · ~15 pages · Grade level 13.5 · Accepted 2025-02-05 09:15:01

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 10

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 25

Cybersecurity

Item 1C. Cybersecurity 25

Properties

Item 2. Properties 25

Legal Proceedings

Item 3. Legal Proceedings 26

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 26 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27

[Reserved]

Item 6. [Reserved] 29

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 43

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 44

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 74

Controls and Procedures

Item 9A. Controls and Procedures 74

Other Information

Item 9B. Other Information 74

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 74 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 75

Executive Compensation

Item 11. Executive Compensation 75

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 75

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 75

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 75 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 76

Form 10-K Summary

Item 16. Form 10-K Summary 76 Index to Exhibits 77

Signatures

Signatures 80 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains certain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expects," "intends," "outlook," "forecast," "position," "committed," "plans," "anticipates," "believes," "estimates," "predicts," "model," "assumes," "confident," "look forward," "potential," "on track," or "continue," or the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth and recovery of profitability, management of costs and other disruptions and other strategies, and anticipated trends in our business, including expected levels of commodity costs and volume. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including those risks and uncertainties discussed in Item 1A. "Risk Factors." You should specifically consider the numerous risks outlined in the "Risk Factors" section. These risks and uncertainties include factors related to: changes in consumer preferences, lifestyle, economic circumstances and environmental concerns; relationships with our major customers, consolidation of our customer bases and loss of a significant customer; competition and pricing pressures; loss of, or disruption at, any of our key manufacturing facilities; our suppliers of raw materials and any interruption in our supply of raw materials; loss due to an acci

BUSINESS

ITEM 1. BUSINESS In this Annual Report on Form 10-K, "Reynolds Consumer Products," "RCP," the "Company," "we," "us" and "our" refer to Reynolds Consumer Products Inc. and its consolidated subsidiaries. Reynolds Consumer Products Inc. was incorporated in the state of Delaware on September 26, 2011. We own or have rights to trademarks, service marks and trade names that we use in connection with the operation of our business. Other trademarks, service marks and trade names appearing in this Annual Report on Form 10-K are the property of their respective owners. Solely for convenience, some of the trademarks, service marks and trade names referred to in this Annual Report on Form 10-K are listed without the or symbols, but we will assert, to the fullest extent under applicable law, our rights to our trademarks, service marks and trade names. Overview Our mission is to simplify daily life so consumers can enjoy what matters most. We are a market-leading consumer products company with a presence in 95% of households across the United States. We produce and sell products that people use in their homes for cooking, serving, cleanup and storage. We sell our products under iconic brands such as Reynolds and Hefty, and also under store brands that are strategically important to our retail partners. Overall, across both our branded and store brand offerings, we hold the #1 or #2 U.S. market share position in the majority of product categories in which we participate. Over 50% of our revenue comes from products that are #1 in their respective categories. We have developed our market-leading position by investing in our product categories, championing the categories in partnership with our retail partners and consistently developing innovative products to meet the evolving needs and preferences of the modern consumer. Our mix of branded and store brand products is a key competitive advantage that aligns our goal of growing the overall product categories where we have offe

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