Employee Benefit Obligations

3 Months Ended

Mar. 31, 2014

Employee Benefit Obligations

Employee Benefit Obligations

11. Employee Benefit Obligations

	March 31,			December 31,
($ in millions)	2014			2013
Underfunded defined benefit pension liabilities	$	576.7		$	601.9
Less current portion and prepaid pension assets	(23.8		)	(21.4		)
Long-term defined benefit pension liabilities	552.9			580.5
Retiree medical and other postemployment benefits	163.8			165.9
Deferred compensation plans	245.2			257.1
Other	29.2			29.5
	$	991.1		$	1,033.0

Components of net periodic benefit cost associated with the company’s defined benefit pension plans were:

	Three Months Ended March 31,
	2014									2013
($ in millions)	U.S.			Foreign			Total			U.S.			Foreign			Total
Ball-sponsored plans:
Service cost	$	11.4		$	3.5		$	14.9		$	12.3		$	2.5		$	14.8
Interest cost	15.6			6.5			22.1			13.8			5.9			19.7
Expected return on plan assets	(20.5		)	(3.5		)	(24.0		)	(19.3		)	(3.4		)	(22.7		)
Amortization of prior service cost	—			(0.1		)	(0.1		)	—			(0.1		)	(0.1		)
Recognized net actuarial loss	7.2			1.3			8.5			10.6			1.3			11.9
Curtailment and settlement losses(a)	—			—			—			4.6			—			4.6
Net periodic benefit cost for
Ball-sponsored plans	13.7			7.7			21.4			22.0			6.2			28.2
Multi-employer plans:
Net periodic benefit cost, excluding curtailment loss	0.7			—			0.7			0.7			—			0.7
Curtailment loss (a)	—			—			—			3.9			—			3.9
Net periodic benefit cost for multi-employer plans	0.7			—			0.7			4.6			—			4.6
Total net periodic benefit cost	$	14.4		$	7.7		$	22.1		$	26.6		$	6.2		$	32.8

(a) Curtailments losses are related to the closure of the company’s Elgin, Illinois, plant. Further details are available in Note 4.

Contributions to the company’s defined global benefit pension plans, not including the unfunded German plans, were $33.9 million in the first three months of 2014 ($81.8 million in 2013). The total contributions to these funded plans are expected to be in the range of $67 million for the full year. This estimate may change based on changes in the U.S. Pension Protection Act and actual plan asset performance, among other factors. Payments to participants in the unfunded German plans were $5.7 million in the first three months of 2014 and are expected to be approximately $23 million for the full year.