5.Business Consolidation and Other Activities

Following is a summary of business consolidation and other activity (charges)/income included in the unaudited condensed consolidated statements of earnings:

	Three Months Ended March 31,
($ in millions)	2015			2014

Metal beverage packaging, Americas & Asia	$	(2.3	)	$	4.8
Metal beverage packaging, Europe	(2.0		)	(1.2		)
Metal food & household products packaging	(0.2		)	(3.1		)
Aerospace & technologies	0.7			—
Corporate and other	(48.2		)	(0.5		)
	$	(52.0	)	$	—

2015

Metal Beverage Packaging, Americas and Asia

During the first quarter, the company recorded charges of $2.3 million related to business reorganization activities in the company’s metal beverage packaging, Asia, operations, and for ongoing costs related to previously closed facilities.

Metal Beverage Packaging, Europe

During the first quarter, the company recorded charges of $1.3 million related to headcount reductions, cost-out initiatives and the relocation of the company’s European headquarters from Germany to Switzerland, as well as additional tax expense of $1.7 million related to this relocation. The quarter also included charges of $0.7 million for business reorganization activities.

Metal Food and Household Products Packaging, and Aerospace and Technologies

The company recorded charges net charges of $0.5 million for insignificant activities.

Corporate

During the first quarter, the company recorded charges of $20.2 million for professional services and other costs associated with the proposed acquisition of Rexam announced in February 2015. In addition, the company recognized losses of $27.7 million associated with its collar and option contracts entered into to reduce its exposure to currency exchange rate changes in connection with the British pound denominated cash portion of the announced, proposed acquisition of Rexam, further discussed in Note 16. Other charges in the quarter included $0.3 million for insignificant activities.

2014

Metal Beverage Packaging, Americas and Asia

During the first quarter, the company received and recorded compensation of $5.0 million for the reimbursement of severance costs incurred in connection with the company’s closure and relocation of the Shenzhen manufacturing facility in 2013. Also during the first quarter, the company sold its plastic motor oil container and pail manufacturing business in the PRC and recorded a gain of $0.8 million in connection with the sale. Other charges in the quarter included $1.0 million related to previously closed facilities.

Metal Food and Household Products Packaging

During the fourth quarter of 2013, the company announced plans to close its Danville, Illinois, steel aerosol packaging facility in the second half of 2014. Charges of $2.0 million were recorded during the first quarter in connection with the pending closure. The first quarter also included charges of $1.1 million for other insignificant activities.

Metal Beverage Packaging, Europe, and Corporate

The company recorded charges of $1.2 million for headcount reductions, cost-out initiatives and the relocation of the company’s European headquarters from Germany to Switzerland, as well as additional tax expense of $2.1 million related to this relocation. The quarter also included charges of $0.5 million for other insignificant activities.

Following is a summary by segment of the activity in the business consolidation reserves:

($ in millions)	Metal Food & Household Products Packaging			Metal Beverage Packaging, Europe			Total

Balance at December 31, 2014	$	5.1		$	0.9		$	6.0
(Gains) charges in earnings	0.2			1.2			1.4
Cash payments and other activity	(3.0		)	(0.1		)	(3.1		)
Balance at March 31, 2015	$	2.3		$	2.0		$	4.3

The carrying value of assets held for sale in connection with facility closures was $11.7 million at March 31, 2015, and at December 31, 2014.