Business Segment Information

3 Months Ended

Mar. 31, 2015

Business Segment Information

Business Segment Information

3.Business Segment Information

Ball’s operations are organized and reviewed by management along its product lines and geographical areas and presented in the four reportable segments discussed below.

Metal beverage packaging, Americas and Asia:  Consists of the metal beverage packaging, Americas, operations in the U.S., Canada and Brazil, and the metal beverage packaging, Asia, operations in the People’s Republic of China (PRC). The Americas and Asia segments have been aggregated based on similar economic and qualitative characteristics. The operations in this reporting segment manufacture and sell metal beverage containers.

Metal beverage packaging, Europe:  Consists of operations in several countries in Europe, which manufacture and sell metal beverage containers.

Metal food and household products packaging:   Consists of operations in the U.S., Europe, Canada, Mexico and Argentina, which manufacture and sell steel food, aerosol, paint, general line and decorative specialty containers, as well as extruded aluminum beverage and aerosol containers and aluminum slugs.

Aerospace and technologies:  Consists of the manufacture and sale of aerospace and other related products and the providing of services used in the defense, civil space and commercial space industries.

The accounting policies of the segments are the same as those in the unaudited condensed consolidated financial statements. A discussion of the company’s critical and significant accounting policies can be found in Ball’s annual report. The company also has investments in companies in the U.S. and Vietnam, which are accounted for under the equity method of accounting and, accordingly, those results are not included in segment sales or earnings.

Summary of Business by Segment

	Three Months Ended March 31,
($ in millions)	2015			2014
Net sales
Metal beverage packaging, Americas & Asia	$	1,023.0		$	997.6
Metal beverage packaging, Europe	379.2			450.2
Metal food & household products packaging	308.3			341.1
Aerospace & technologies	214.8			220.7
Corporate and intercompany eliminations	(2.2		)	(2.8		)
Net sales	1,923.1			2,006.8
Net earnings
Metal beverage packaging, Americas & Asia	$	125.0		$	125.1
Business consolidation and other activities	(2.3		)	4.8
Total metal beverage packaging Americas & Asia	122.7			129.9
Metal beverage packaging, Europe	28.9			55.5
Business consolidation and other activities	(2.0		)	(1.2		)
Total metal beverage packaging, Europe	26.9			54.3
Metal food & household products packaging	30.2			36.3
Business consolidation and other activities	(0.2		)	(3.1		)
Total metal food & household products packaging	30.0			33.2
Aerospace & technologies	20.0			24.1
Business consolidation and other activities	0.7			—
Total aerospace & technologies	20.7			24.1
Segment earnings before interest and taxes	200.3			241.5
Undistributed corporate expenses and intercompany eliminations, net	(26.2		)	(23.6		)
Business consolidation and other activities	(48.2		)	(0.5		)
Total undistributed corporate expenses and intercompany eliminations, net	(74.4		)	(24.1		)
Earnings before interest and taxes	125.9			217.4
Interest expense	(38.5		)	(40.2		)
Debt refinancing and other costs	(59.9		)	(33.1		)
Total interest expense	(98.4		)	(73.3		)
Tax provision	(0.5		)	(39.6		)
Equity in results of affiliates, net of tax	0.5			0.4
Net earnings	27.5			104.9
Less net earnings attributable to noncontrolling interests	(6.8		)	(11.4		)
Net earnings attibutable to Ball Corporation	$	20.7		$	93.5

	March 31,			December 31,
($ in millions)	2015			2014
Total Assets
Metal beverage packaging, Americas & Asia	$	3,555.8		$	3,422.8
Metal beverage packaging, Europe	2,216.9			2,274.5
Metal food & household products packaging	1,632.1			1,508.1
Aerospace & technologies	399.4			411.6
Segment assets	7,804.2			7,617.0
Corporate assets, net of eliminations	(143.7		)	(46.0		)
Total assets	$	7,660.5		$	7,571.0