XML 42 R40.htm IDEA: XBRL DOCUMENT v3.2.0.727
Subsidiary Guarantees of Debt (Tables)
 6 Months Ended
Jun. 30, 2015
Subsidiary Guarantees of Debt  
Schedule of Condensed Consolidating Statement of Earnings

 

 

 

Unaudited Condensed Consolidating Statement of Earnings

 

 

 

Three Months Ended June 30, 2015

 

($ in millions)

 

Ball
Corporation

 

Guarantor
Subsidiaries

 

Non-Guarantor
Subsidiaries

 

Eliminating
Adjustments

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

—

 

$
1,320.1

 

$
863.7

 

$
(11.5

)

$
2,172.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding depreciation and amortization)

 
0.1

 
(1,099.5

)
(687.2

)
11.5

 
(1,775.1

)

Depreciation and amortization

 
(1.3

)
(31.8

)
(38.2

)

—

 
(71.3

)

Selling, general and administrative

 
(22.4

)
(44.8

)
(50.5

)

—

 
(117.7

)

Business consolidation and other activities

 
71.8

 
(0.5

)
(5.7

)

—

 
65.6

 

Equity in results of subsidiaries

 
117.0

 
52.0

 

—

 
(169.0

)

—

 

Intercompany

 
50.5

 
(43.6

)
(6.9

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
215.7

 
(1,168.2

)
(788.5

)
(157.5

)
(1,898.5

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before interest and taxes

 
215.7

 
151.9

 
75.2

 
(169.0

)
273.8

 

Interest expense

 
(28.7

)
0.8

 
(3.1

)

—

 
(31.0

)

Debt refinancing and other costs

 
(3.7

)

—

 
(1.3

)

—

 
(5.0

)

 

 

 

 

 

 

 

 

 

 

 

 

Total interest expense

 
(32.4

)
0.8

 
(4.4

)

—

 
(36.0

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before taxes

 
183.3

 
152.7

 
70.8

 
(169.0

)
237.8

 

Tax provision

 
(22.9

)
(37.3

)
(18.2

)

—

 
(78.4

)

Equity in results of affiliates, net of tax

 

—

 
0.7

 
0.7

 

—

 
1.4

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 
160.4

 
116.1

 
53.3

 
(169.0

)
160.8

 

Less net earnings attributable to noncontrolling interests

 

—

 

—

 
(0.4

)

—

 
(0.4

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Ball Corporation

 

$
160.4

 

$
116.1

 

$
52.9

 

$
(169.0

)

$
160.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive earnings (loss) attributable to Ball Corporation

 

$
198.9

 

$
153.4

 

$
87.3

 

$
(240.7

)

$
198.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited Condensed Consolidating Statement of Earnings

 

 

 

Three Months Ended June 30, 2014

 

($ in millions)

 

Ball
Corporation

 

Guarantor
Subsidiaries

 

Non-Guarantor
Subsidiaries

 

Eliminating
Adjustments

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

—

 

$
1,350.6

 

$
946.5

 

$
(5.2

)

$
2,291.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding depreciation and amortization)

 

—

 
(1,112.8

)
(738.8

)
5.2

 
(1,846.4

)

Depreciation and amortization

 
(1.5

)
(30.9

)
(37.2

)

—

 
(69.6

)

Selling, general and administrative

 
(12.0

)
(44.8

)
(54.6

)

—

 
(111.4

)

Business consolidation and other activities

 
(0.4

)
(7.1

)
(1.1

)

—

 
(8.6

)

Equity in results of subsidiaries

 
154.8

 
79.4

 

—

 
(234.2

)

—

 

Intercompany

 
51.9

 
(42.6

)
(9.3

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
192.8

 
(1,158.8

)
(841.0

)
(229.0

)
(2,036.0

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before interest and taxes

 
192.8

 
191.8

 
105.5

 
(234.2

)
255.9

 

Total interest expense

 
(37.5

)
0.6

 
(3.7

)

—

 
(40.6

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before taxes

 
155.3

 
192.4

 
101.8

 
(234.2

)
215.3

 

Tax provision

 
(2.2

)
(33.3

)
(24.7

)

—

 
(60.2

)

Equity in results of affiliates, net of tax

 

—

 
0.7

 
0.5

 

—

 
1.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 
153.1

 
159.8

 
77.6

 
(234.2

)
156.3

 

Less net earnings attributable to noncontrolling interests

 

—

 

—

 
(3.2

)

—

 
(3.2

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Ball Corporation

 

$
153.1

 

$
159.8

 

$
74.4

 

$
(234.2

)

$
153.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive earnings (loss) attributable to Ball Corporation

 

$
165.7

 

$
171.0

 

$
78.5

 

$
(249.5

)

$
165.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited Condensed Consolidating Statement of Earnings

 

 

 

Six Months Ended June 30, 2015

 

($ in millions)

 

Ball
Corporation

 

Guarantor
Subsidiaries

 

Non-Guarantor
Subsidiaries

 

Eliminating
Adjustments

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

—

 

$
2,464.6

 

$
1,652.8

 

$
(22.0

)

$
4,095.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding depreciation and amortization)

 
0.1

 
(2,046.2

)
(1,311.9

)
22.0

 
(3,336.0

)

Depreciation and amortization

 
(2.6

)
(63.9

)
(73.1

)

—

 
(139.6

)

Selling, general and administrative

 
(46.3

)
(85.1

)
(102.3

)

—

 
(233.7

)

Business consolidation and other activities

 
23.6

 
(0.7

)
(9.3

)

—

 
13.6

 

Equity in results of subsidiaries

 
211.7

 
91.8

 

—

 
(303.5

)

—

 

Intercompany

 
102.0

 
(85.8

)
(16.2

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
288.5

 
(2,189.9

)
(1,512.8

)
(281.5

)
(3,695.7

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before interest and taxes

 
288.5

 
274.7

 
140.0

 
(303.5

)
399.7

 

Interest expense

 
(66.1

)
2.4

 
(5.8

)

—

 
(69.5

)

Debt refinancing and other costs

 
(63.0

)

—

 
(1.9

)

—

 
(64.9

)

 

 

 

 

 

 

 

 

 

 

 

 

Total interest expense

 
(129.1

)
2.4

 
(7.7

)

—

 
(134.4

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before taxes

 
159.4

 
277.1

 
132.3

 
(303.5

)
265.3

 

Tax provision

 
21.7

 
(68.3

)
(32.3

)

—

 
(78.9

)

Equity in results of affiliates, net of tax

 

—

 
0.9

 
1.0

 

—

 
1.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 
181.1

 
209.7

 
101.0

 
(303.5

)
188.3

 

Less net earnings attributable to noncontrolling interests

 

—

 

—

 
(7.2

)

—

 
(7.2

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to Ball Corporation

 

$
181.1

 

$
209.7

 

$
93.8

 

$
(303.5

)

$
181.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive earnings attributable to Ball Corporation

 

$
99.5

 

$
125.9

 

$
7.0

 

$
(132.9

)

$
99.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited Condensed Consolidating Statement of Earnings

 

 

 

Six Months Ended June 30, 2014

 

($ in millions)

 

Ball
Corporation

 

Guarantor
Subsidiaries

 

Non-Guarantor
Subsidiaries

 

Eliminating
Adjustments

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

—

 

$
2,522.4

 

$
1,784.3

 

$
(8.0

)

$
4,298.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost and expenses

 

 

 

 

 

 

 

 

 

 

 

Cost of sales (excluding depreciation and amortization)

 
(0.1

)
(2,084.9

)
(1,382.3

)
8.0

 
(3,459.3

)

Depreciation and amortization

 
(3.0

)
(61.7

)
(73.7

)

—

 
(138.4

)

Selling, general and administrative

 
(34.7

)
(88.3

)
(96.1

)

—

 
(219.1

)

Business consolidation and other activities

 
(1.0

)
(10.9

)
3.3

 

—

 
(8.6

)

Equity in results of subsidiaries

 
289.4

 
160.9

 

—

 
(450.3

)

—

 

Intercompany

 
99.2

 
(85.7

)
(13.5

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
349.8

 
(2,170.6

)
(1,562.3

)
(442.3

)
(3,825.4

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before interest and taxes

 
349.8

 
351.8

 
222.0

 
(450.3

)
473.3

 

Interest expense

 
(75.5

)
1.1

 
(6.4

)

—

 
(80.8

)

Debt refinancing and other costs

 
(33.1

)

—

 

—

 

—

 
(33.1

)

 

 

 

 

 

 

 

 

 

 

 

 

Total interest expense

 
(108.6

)
1.1

 
(6.4

)

—

 
(113.9

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) before taxes

 
241.2

 
352.9

 
215.6

 
(450.3

)
359.4

 

Tax provision

 
5.4

 
(58.4

)
(46.8

)

—

 
(99.8

)

Equity in results of affiliates, net of tax

 

—

 
0.9

 
0.7

 

—

 
1.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 
246.6

 
295.4

 
169.5

 
(450.3

)
261.2

 

Less net earnings attributable to noncontrolling interests

 

—

 

—

 
(14.6

)

—

 
(14.6

)

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to

 

 

 

 

 

 

 

 

 

 

 

Ball Corporation

 

$
246.6

 

$
295.4

 

$
154.9

 

$
(450.3

)

$
246.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive earnings attributable to Ball Corporation

 

$
243.4

 

$
290.3

 

$
141.0

 

$
(431.3

)

$
243.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Condensed Consolidating Balance Sheet

 

 

 

Unaudited Condensed Consolidating Balance Sheet

 

 

 

June 30, 2015

 

($ in millions)

 

Ball
Corporation

 

Guarantor
Subsidiaries

 

Non-Guarantor
Subsidiaries

 

Eliminating
Adjustments

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$
2.6

 

$

—

 

$
224.7

 

$

—

 

$
227.3

 

Receivables, net

 
12.0

 
281.2

 
898.8

 

—

 
1,192.0

 

Intercompany receivables

 
220.1

 
105.9

 
2.0

 
(328.0

)

—

 

Inventories, net

 

—

 
538.9

 
390.1

 

—

 
929.0

 

Deferred taxes and other current assets

 
37.1

 
77.9

 
41.8

 

—

 
156.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current assets

 
271.8

 
1,003.9

 
1,557.4

 
(328.0

)
2,505.1

 

Noncurrent assets

 

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment, net

 
14.4

 
999.7

 
1,469.3

 

—

 
2,483.4

 

Investment in subsidiaries

 
2,846.0

 
2,214.9

 
78.6

 
(5,139.5

)

—

 

Goodwill

 

—

 
966.5

 
1,242.7

 

—

 
2,209.2

 

Intangibles and other assets, net

 
314.9

 
105.1

 
235.2

 

—

 
655.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$
3,447.1

 

$
5,290.1

 

$
4,583.2

 

$
(5,467.5

)

$
7,852.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

 

Short-term debt and current portion of long-term debt

 

$
114.7

 

$
0.2

 

$
163.3

 

$

—

 

$
278.2

 

Accounts payable

 
7.3

 
799.3

 
637.8

 

—

 
1,444.4

 

Intercompany payables

 
99.7

 
1.0

 
228.1

 
(328.8

)

—

 

Accrued employee costs

 
14.7

 
103.6

 
74.4

 

—

 
192.7

 

Other current liabilities

 
78.4

 
56.5

 
142.1

 

—

 
277.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 
314.8

 
960.6

 
1,245.7

 
(328.8

)
2,192.3

 

Noncurrent liabilities

 

 

 

 

 

 

 

 

 

 

 

Long-term debt

 
2,842.1

 
0.2

 
139.8

 

—

 
2,982.1

 

Employee benefit obligations

 
332.4

 
452.1

 
382.0

 

—

 
1,166.5

 

Intercompany long-term notes

 
(1,087.6

)
803.3

 
283.5

 
0.8

 

—

 

Deferred taxes and other liabilities

 
(93.2

)
158.4

 
104.0

 

—

 
169.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 
2,308.5

 
2,374.6

 
2,155.0

 
(328.0

)
6,510.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock

 
1,160.4

 
1,856.6

 
534.0

 
(2,390.6

)
1,160.4

 

Preferred stock

 

—

 

—

 
4.8

 
(4.8

)

—

 

Retained earnings

 
4,492.7

 
1,599.1

 
1,933.7

 
(3,532.8

)
4,492.7

 

Accumulated other comprehensive earnings (loss)

 
(603.7

)
(540.2

)
(248.5

)
788.7

 
(603.7

)

Treasury stock, at cost

 
(3,910.8

)

—

 

—

 

—

 
(3,910.8

)

 

 

 

 

 

 

 

 

 

 

 

 

Total Ball Corporation shareholders’ equity

 
1,138.6

 
2,915.5

 
2,224.0

 
(5,139.5

)
1,138.6

 

Noncontrolling interests

 

—

 

—

 
204.2

 

—

 
204.2

 

 

 

 

 

 

 

 

 

 

 

 

 

Total shareholders’ equity

 
1,138.6

 
2,915.5

 
2,428.2

 
(5,139.5

)
1,342.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$
3,447.1

 

$
5,290.1

 

$
4,583.2

 

$
(5,467.5

)

$
7,852.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited Condensed Consolidating Balance Sheet

 

 

 

December 31, 2014

 

($ in millions)

 

Ball
Corporation

 

Guarantor
Subsidiaries

 

Non-Guarantor
Subsidiaries

 

Eliminating
Adjustments

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$
1.5

 

$
0.4

 

$
189.5

 

$

—

 

$
191.4

 

Receivables, net

 
43.7

 
241.3

 
672.1

 

—

 
957.1

 

Intercompany receivables

 
94.0

 
99.9

 
4.3

 
(198.2

)

—

 

Inventories, net

 

—

 
575.0

 
441.7

 

—

 
1,016.7

 

Deferred taxes and other current assets

 
3.1

 
75.1

 
70.1

 

—

 
148.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current assets

 
142.3

 
991.7

 
1,377.7

 
(198.2

)
2,313.5

 

Noncurrent assets

 

 

 

 

 

 

 

 

 

 

 

Property, plant and equipment, net

 
15.1

 
968.0

 
1,447.6

 

—

 
2,430.7

 

Investment in subsidiaries

 
3,152.7

 
2,212.2

 
78.6

 
(5,443.5

)

—

 

Goodwill

 

—

 
931.0

 
1,323.5

 

—

 
2,254.5

 

Intangibles and other assets, net

 
232.4

 
93.5

 
246.4

 

—

 
572.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$
3,542.5

 

$
5,196.4

 

$
4,473.8

 

$
(5,641.7

)

$
7,571.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

 

 

 

 

Short-term debt and current portion of long-term debt

 

$
1.9

 

$
7.6

 

$
165.6

 

$

—

 

$
175.1

 

Accounts payable

 
7.1

 
732.5

 
600.4

 

—

 
1,340.0

 

Intercompany payables

 
99.7

 
1.5

 
97.0

 
(198.2

)

—

 

Accrued employee costs

 
22.3

 
155.6

 
92.0

 

—

 
269.9

 

Other current liabilities

 
51.6

 
38.0

 
132.2

 

—

 
221.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Total current liabilities

 
182.6

 
935.2

 
1,087.2

 
(198.2

)
2,006.8

 

Noncurrent liabilities

 

 

 

 

 

 

 

 

 

 

 

Long-term debt

 
2,750.0

 
0.2

 
243.6

 

—

 
2,993.8

 

Employee benefit obligations

 
329.4

 
432.7

 
416.2

 

—

 
1,178.3

 

Intercompany long-term notes

 
(646.4

)
463.1

 
183.3

 

—

 

—

 

Deferred taxes and other liabilities

 
(106.2

)
138.7

 
120.0

 

—

 
152.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 
2,509.4

 
1,969.9

 
2,050.3

 
(198.2

)
6,331.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock

 
1,131.3

 
2,293.5

 
534.0

 
(2,827.5

)
1,131.3

 

Preferred stock

 

—

 

—

 
4.8

 
(4.8

)

—

 

Retained earnings

 
4,346.9

 
1,389.4

 
1,839.9

 
(3,229.3

)
4,346.9

 

Accumulated other comprehensive earnings (loss)

 
(522.1

)
(456.4

)
(161.7

)
618.1

 
(522.1

)

Treasury stock, at cost

 
(3,923.0

)

—

 

—

 

—

 
(3,923.0

)

 

 

 

 

 

 

 

 

 

 

 

 

Total Ball Corporation shareholders’ equity

 
1,033.1

 
3,226.5

 
2,217.0

 
(5,443.5

)
1,033.1

 

Noncontrolling interests

 

—

 

—

 
206.5

 

—

 
206.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Total shareholders’ equity

 
1,033.1

 
3,226.5

 
2,423.5

 
(5,443.5

)
1,239.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and shareholders’ equity

 

$
3,542.5

 

$
5,196.4

 

$
4,473.8

 

$
(5,641.7

)

$
7,571.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Condensed Consolidating Statement of Cash Flows

 

 

 

Unaudited Condensed Consolidating Statement of Cash Flows

 

 

 

Six Months Ended June 30, 2015

 

($ in millions)

 

Ball
Corporation

 

Guarantor
Subsidiaries

 

Non-Guarantor
Subsidiaries

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

Cash provided by (used in) operating activities

 

$
(31.9

)

$
226.2

 

$
17.4

 

$
211.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

 

 

 

Capital expenditures

 
(4.1

)
(98.6

)
(125.0

)
(227.7

)

Business acquisition, net of cash acquired

 

—

 
(29.1

)

—

 
(29.1

)

Other, net

 
8.9

 
12.3

 
0.4

 
21.6

 

 

 

 

 

 

 

 

 

 

 

Cash provided by (used in) investing activities

 
4.8

 
(115.4

)
(124.6

)
(235.2

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

 

 

 

Long-term borrowings

 
2,300.0

 

—

 
15.0

 
2,315.0

 

Repayments of long-term borrowings

 
(2,200.3

)

—

 
(107.8

)
(2,308.1

)

Net change in short-term borrowings

 
112.1

 
(7.4

)
0.8

 
105.5

 

Proceeds from issuances of common stock

 
18.9

 

—

 

—

 
18.9

 

Acquisitions of treasury stock

 
(3.3

)

—

 

—

 
(3.3

)

Common dividends

 
(36.1

)

—

 

—

 
(36.1

)

Intercompany

 
(130.3

)
(103.4

)
233.7

 

—

 

Other, net

 
(31.6

)
(0.4

)
(9.0

)
(41.0

)

 

 

 

 

 

 

 

 

 

 

Cash provided by (used in) financing activities

 
29.4

 
(111.2

)
132.7

 
50.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash

 
(1.2

)

—

 
9.7

 
8.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in cash and cash equivalents

 
1.1

 
(0.4

)
35.2

 
35.9

 

Cash and cash equivalents — beginning of period

 
1.5

 
0.4

 
189.5

 
191.4

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents — end of period

 

$
2.6

 

$

—

 

$
224.7

 

$
227.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unaudited Condensed Consolidating Statement of Cash Flows

 

 

 

Six Months Ended June 30, 2014

 

($ in millions)

 

Ball
Corporation

 

Guarantor
Subsidiaries

 

Non-Guarantor
Subsidiaries

 

Consolidated
Total

 

 

 

 

 

 

 

 

 

 

 

Cash provided by (used in) operating activities

 

$
(19.3

)

$
204.9

 

$
24.4

 

$
210.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from investing activities

 

 

 

 

 

 

 

 

 

Capital expenditures

 
(6.0

)
(57.9

)
(71.4

)
(135.3

)

Other, net

 
0.7

 
2.7

 
7.8

 
11.2

 

 

 

 

 

 

 

 

 

 

 

Cash provided by (used in) investing activities

 
(5.3

)
(55.2

)
(63.6

)
(124.1

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash flows from financing activities

 

 

 

 

 

 

 

 

 

Long-term borrowings

 
375.0

 

—

 
21.9

 
396.9

 

Repayments of long-term borrowings

 
(640.4

)
(0.3

)
(121.1

)
(761.8

)

Net change in short-term borrowings

 
49.0

 
5.8

 
237.9

 
292.7

 

Proceeds from issuances of common stock

 
18.6

 

—

 

—

 
18.6

 

Acquisitions of treasury stock

 
(257.1

)

—

 

—

 
(257.1

)

Common dividends

 
(36.8

)

—

 

—

 
(36.8

)

Intercompany

 
292.7

 
(155.2

)
(137.5

)

—

 

Other, net

 
9.5

 

—

 
(6.0

)
3.5

 

 

 

 

 

 

 

 

 

 

 

Cash provided by (used in) financing activities

 
(189.5

)
(149.7

)
(4.8

)
(344.0

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash

 
(0.2

)

—

 
(2.4

)
(2.6

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in cash and cash equivalents

 
(214.3

)

—

 
(46.4

)
(260.7

)

Cash and cash equivalents — beginning of period

 
218.6

 
0.3

 
197.1

 
416.0

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents — end of period

 

$
4.3

 

$
0.3

 

$
150.7

 

$
155.3