Subsidiary Guarantees of Debt (Tables)

3 Months Ended

Mar. 31, 2013

Subsidiary Guarantees of Debt

Schedule of condensed, consolidating statement of earnings

	Unaudited Condensed Consolidating Statement of Earnings
	For the Three Months Ended March 31, 2013
($ in millions)	Ball  Corporation			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminating  Adjustments			Consolidated  Total
Net sales	$	—		$	1,225.3		$	775.4		$	(9.7	)	$	1,991.0
Cost and expenses
Cost of sales (excluding depreciation and amortization)	(0.2		)	(1,035.6		)	(617.4		)	9.7			(1,643.5		)
Depreciation and amortization	(1.4		)	(30.9		)	(40.2		)	—			(72.5		)
Selling, general and administrative	(22.8		)	(47.8		)	(38.7		)	—			(109.3		)
Business consolidation and other activities	(0.8		)	(22.0		)	0.1			—			(22.7		)
Equity in results of subsidiaries	81.1			46.4			—			(127.5		)	—
Intercompany	42.2			(35.5		)	(6.7		)	—			—
	98.1			(1,125.4		)	(702.9		)	(117.8		)	(1,848.0		)
Earnings (loss) before interest and taxes	98.1			99.9			72.5			(127.5		)	143.0
Interest expense	(41.1		)	0.5			(4.2		)	—			(44.8		)
Earnings (loss) before taxes	57.0			100.4			68.3			(127.5		)	98.2
Tax provision	15.0			(17.7		)	(15.4		)	—			(18.1		)
Equity in results of affiliates, net of tax	—			(0.5		)	(0.3		)	—			(0.8		)
Net earnings (loss) from continuing operations	72.0			82.2			52.6			(127.5		)	79.3
Discontinued operations, net of tax	—			0.1			—			—			0.1
Net earnings (loss)	72.0			82.3			52.6			(127.5		)	79.4
Less net earnings attributable to noncontrolling interests	—			—			(7.4		)	—			(7.4		)
Net earnings (loss) attributable to Ball Corporation	$	72.0		$	82.3		$	45.2		$	(127.5	)	$	72.0
Comprehensive earnings attributable to Ball Corporation	$	25.3		$	44.9		$	(2.9	)	$	(42.0	)	$	25.3

	Unaudited Condensed Consolidating Statement of Earnings
	For the Three Months Ended April 1, 2012
($ in millions)	Ball  Corporation			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminating Adjustments			Consolidated Total
Net sales	$	—		$	1,282.8		$	761.9		$	(2.0	)	$	2,042.7
Cost and expenses
Cost of sales (excluding depreciation and amortization)	—			(1,088.2		)	(601.5		)	2.0			(1,687.7		)
Depreciation and amortization	(1.3		)	(30.2		)	(37.5		)	—			(69.0		)
Selling, general and administrative	(22.1		)	(48.1		)	(29.4		)	—			(99.6		)
Business consolidation and other activities	(0.9		)	(1.7		)	(1.8		)	—			(4.4		)
Equity in results of subsidiaries	104.6			56.0			—			(160.6		)	—
Intercompany	42.0			(36.2		)	(5.8		)	—			—
	122.3			(1,148.4		)	(676.0		)	(158.6		)	(1,860.7		)
Earnings (loss) before interest and taxes	122.3			134.4			85.9			(160.6		)	182.0
Interest expense	(56.5		)	0.3			(4.2		)	—			(60.4		)
Earnings (loss) before taxes	65.8			134.7			81.7			(160.6		)	121.6
Tax provision	22.5			(32.1		)	(18.4		)	—			(28.0		)
Equity in results of affiliates, net of tax	—			0.2			(0.4		)	—			(0.2		)
Net earnings (loss) from continuing operations	88.3			102.8			62.9			(160.6		)	93.4
Discontinued operations, net of tax	—			(0.3		)	—			—			(0.3		)
Net earnings (loss)	88.3			102.5			62.9			(160.6		)	93.1
Less net earnings attributable to noncontrolling interests	—			—			(4.8		)	—			(4.8		)
Net earnings (loss) attributable to Ball Corporation	$	88.3		$	102.5		$	58.1		$	(160.6	)	$	88.3
Comprehensive earnings attributable to Ball Corporation	$	151.5		$	163.1		$	102.7		$	(265.8	)	$	151.5

Schedule of condensed, consolidating balance sheet

	Unaudited Condensed Consolidating Balance Sheet
	At March 31, 2013
($ in millions)	Ball Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminating Adjustments			Consolidated Total
ASSETS
Current assets
Cash and cash equivalents	$	2.8		$	0.3		$	204.9		$	—		$	208.0
Receivables, net	4.3			174.0			879.4			—			1,057.7
Intercompany receivables	60.8			9.2			0.1			(70.1		)	—
Inventories, net	(0.3		)	675.0			468.9			—			1,143.6
Other current assets	41.9			100.1			71.4			—			213.4
Total current assets	109.5			958.6			1,624.7			(70.1		)	2,622.7
Non-current assets
Property, plant and equipment, net	15.0			859.8			1,418.7			—			2,293.5
Investment in subsidiaries	3,938.5			1,977.7			78.7			(5,994.9		)	—
Goodwill	—			939.5			1,380.0			—			2,319.5
Intangibles and other assets, net	204.1			97.3			238.9			—			540.3
Total assets	$	4,267.1		$	4,832.9		$	4,741.0		$	(6,065.0	)	$	7,776.0
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term debt and current portion of long-term debt	$	16.1		$	—		$	409.5		$	—		$	425.6
Accounts payable	8.8			491.7			415.3			—			915.8
Intercompany payables	(0.3		)	—			70.4			(70.1		)	—
Accrued employee costs	10.2			119.6			67.4			—			197.2
Other current liabilities	39.7			73.5			91.1			—			204.3
Total current liabilities	74.5			684.8			1,053.7			(70.1		)	1,742.9
Non-current liabilities
Long-term debt	2,770.9			—			634.4			—			3,405.3
Employee benefit obligations	296.4			456.9			395.6			—			1,148.9
Other liabilities	50.4			(341.2		)	512.2			—			221.4
Total liabilities	3,192.2			800.5			2,595.9			(70.1		)	6,518.5
Common stock	1,046.8			847.1			626.1			(1,473.2		)	1,046.8
Preferred stock	—			—			4.8			(4.8		)	—
Retained earnings	3,633.9			3,518.1			1,377.6			(4,895.7		)	3,633.9
Accumulated other comprehensive earnings (loss)	(399.1		)	(332.8		)	(46.0		)	378.8			(399.1		)
Treasury stock, at cost	(3,206.7		)	—			—			—			(3,206.7		)
Total Ball Corporation shareholders’ equity	1,074.9			4,032.4			1,962.5			(5,994.9		)	1,074.9
Noncontrolling interests	—			—			182.6			—			182.6
Total shareholders’ equity	1,074.9			4,032.4			2,145.1			(5,994.9		)	1,257.5
Total liabilties and shareholders’ equity	$	4,267.1		$	4,832.9		$	4,741.0		$	(6,065.0	)	$	7,776.0

	Unaudited Condensed Consolidating Balance Sheet
	At December 31, 2012
($ in millions)	Ball Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminating Adjustments			Consolidated Total
ASSETS
Current assets
Cash and cash equivalents	$	0.2		$	0.3		$	173.6	$	—		$	174.1
Receivables, net	11.8			182.9			735.4		—			930.1
Intercompany receivables	66.5			8.8			—		(75.3		)	—
Inventories, net	(0.8		)	623.7			421.5		—			1,044.4
Other current assets	20.4			96.8			73.6		—			190.8
Total current assets	98.1			912.5			1,404.1		(75.3		)	2,339.4
Non-current assets
Property, plant and equipment, net	9.3			854.4			1,424.9		—			2,288.6
Investment in subsidiaries	3,890.8			1,982.3			78.6		(5,951.7		)	—
Goodwill	—			927.0			1,432.4		—			2,359.4
Intangibles and other assets, net	195.0			98.6			226.1		—			519.7
Total assets	$	4,193.2		$	4,774.8		$	4,566.1	$	(6,027.0	)	$	7,507.1
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term debt and current portion of long-term debt	$	25.1		$	—		$	194.7	$	—		$	219.8
Accounts payable	12.8			461.4			472.7		—			946.9
Intercompany payables	—			0.6			74.7		(75.3		)	—
Accrued employee costs	27.0			173.5			77.9		—			278.4
Other current liabilities	57.9			93.0			89.8		—			240.7
Total current liabilities	122.8			728.5			909.8		(75.3		)	1,685.8
Non-current liabilities
Long-term debt	2,565.4			—			519.9		—			3,085.3
Employee benefit obligations	300.5			526.8			410.8		—			1,238.1
Other non-current liabilities	89.9			(467.9		)	585.9		—			207.9
Total liabilities	3,078.6			787.4			2,426.4		(75.3		)	6,217.1
Common stock	1,026.3			847.1			624.9		(1,472.0		)	1,026.3
Preferred stock	—			—			4.8		(4.8		)	—
Retained earnings	3,580.8			3,435.7			1,332.5		(4,768.2		)	3,580.8
Accumulated other comprehensive earnings (loss)	(352.4		)	(295.4		)	2.1		293.3			(352.4		)
Treasury stock, at cost	(3,140.1		)	—			—		—			(3,140.1		)
Total Ball Corporation shareholders’ equity	1,114.6			3,987.4			1,964.3		(5,951.7		)	1,114.6
Noncontrolling interests	—			—			175.4		—			175.4
Total shareholders’ equity	1,114.6			3,987.4			2,139.7		(5,951.7		)	1,290.0
Total liabilties and shareholders’ equity	$	4,193.2		$	4,774.8		$	4,566.1	$	(6,027.0	)	$	7,507.1

Schedule of condensed, consolidating statement of cash flows

	Unaudited Condensed Consolidating Statement of Cash Flows
	For the Three Months Ended March 31, 2013
($ in millions)	Ball Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated Total
Cash provided by (used in) continuing operating activities	$	(107.3	)	$	44.2		$	(259.5	)	$	(322.6	)
Cash provided by (used in) discontinued operating activities	—			(2.0		)	—			(2.0		)
Total cash provided by (used in) operating activities	(107.3		)	42.2			(259.5		)	(324.6		)
Cash flows from investing activities
Capital expenditures	(1.3		)	(29.5		)	(57.9		)	(88.7		)
Business acquisition, net of cash acquired	—			(12.5		)	(0.1		)	(12.6		)
Other, net	(6.4		)	(0.2		)	(1.4		)	(8.0		)
Cash provided by (used in) investing activities	(7.7		)	(42.2		)	(59.4		)	(109.3		)
Cash flows from financing activities
Long-term borrowings	260.0			—			165.5			425.5
Repayments of long-term borrowings	(55.1		)	—			(56.0		)	(111.1		)
Net change in short-term borrowings	(9.0		)	—			240.2			231.2
Proceeds from issuances of common stock	3.4			—			—			3.4
Acquisitions of treasury stock	(69.2		)	—			—			(69.2		)
Common dividends	(19.3		)	—			—			(19.3		)
Other, net	8.9			—			(0.4		)	8.5
Cash provided by (used in) financing activities	119.7			—			349.3			469.0
Effect of exchange rate changes on cash	(2.1		)	—			0.9			(1.2		)
Change in cash and cash equivalents	2.6			—			31.3			33.9
Cash and cash equivalents — beginning of period	0.2			0.3			173.6			174.1
Cash and cash equivalents — end of period	$	2.8		$	0.3		$	204.9		$	208.0

	Unaudited Condensed Consolidating Statement of Cash Flows
	For the Three Months Ended April 1, 2012
($ in millions)	Ball Corporation			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidated Total
Cash provided by (used in) continuing operating activities	$	(312.6	)	$	23.1		$	71.7		$	(217.8	)
Cash provided by (used in) discontinued operating activities	—			(0.5		)	—			(0.5		)
Total cash provided by (used in) operating activities	(312.6		)	22.6			71.7			(218.3		)
Cash flows from investing activities
Capital expenditures	—			(22.4		)	(53.6		)	(76.0		)
Other, net	(4.9		)	0.9			(6.7		)	(10.7		)
Cash provided by (used in) investing activities	(4.9		)	(21.5		)	(60.3		)	(86.7		)
Cash flows from financing activities
Long-term borrowings	1,140.0			0.1			—			1,140.1
Repayments of long-term borrowings	(632.8		)	(0.1		)	(3.2		)	(636.1		)
Net change in short-term borrowings	11.0			—			(41.9		)	(30.9		)
Proceeds from issuances of common stock	19.7			—			—			19.7
Acquisitions of treasury stock	(210.8		)	—			—			(210.8		)
Common dividends	(15.6		)	—			—			(15.6		)
Other, net	(14.9		)	—			—			(14.9		)
Cash provided by (used in) financing activities	296.6			—			(45.1		)	251.5
Effect of exchange rate changes on cash	2.4			0.5			(8.4		)	(5.5		)
Change in cash and cash equivalents	(18.5		)	1.6			(42.1		)	(59.0		)
Cash and cash equivalents — beginning of period	24.0			0.5			141.3			165.8
Cash and cash equivalents — end of period	$	5.5		$	2.1		$	99.2		$	106.8