5. Business Consolidation and Other Activities

The 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)	2017		2016

Beverage packaging, North and Central America	$	(4)	$	(3)
Beverage packaging, South America		3		—
Beverage packaging, Europe		(3)		(4)
Food and aerosol packaging		10		(14)
Other		(61)		(246)
	$	(55)	$	(267)

2017

Beverage Packaging, North and Central America

During the three months ended March 31, 2017, the company recorded charges of $3 million for employee severance and accelerated depreciation related to the closure of our Reidsville, North Carolina, plant.

Other charges in the three months ended March 31, 2017, included $1 million of individually insignificant activities.

Beverage Packaging, South America

Income in the three months ended March 31, 2017, included $3 million of individually insignificant activities.

Beverage Packaging, Europe

During the three months ended March 31, 2017, the company recorded charges of $2 million for professional services and other costs associated with the acquisition of Rexam.

Other charges in the three months ended March 31, 2017, included $1 million of individually insignificant activities.

Food and Aerosol Packaging

During the three months ended March 31, 2017, the company recorded charges of $3 million for facility shutdown costs and accelerated depreciation for the closure of our Weirton, West Virginia, plant which ceased production during the first quarter of 2017.

During the first quarter of 2017, the company sold its food and aerosol packaging paint and general line can plant in Hubbard, Ohio, and recorded a gain on sale of $15 million.

Other charges in the three months ended March 31, 2017, included $2 million of individually insignificant activities.

Other

During the three months ended March 31, 2017, the company recorded the following amounts:

Expense of $27 million for indemnifications of uncertain tax positions associated with the sale of the Divestment Business.

A $14 million reduction in the gain recognized in connection with the sale of the Ball portion of the Divestment Business.

Expense of $9 million for long term incentive and other compensation arrangements associated with the Rexam acquisition.

Expense of $5 million for professional services and other costs associated with the acquisition of Rexam.

Expense of $6 million for individually insignificant activities.

2016

Beverage Packaging, North and Central America

Charges in the three months ended March 31, 2016, included $3 million of individually insignificant activities

Beverage Packaging, Europe

During the three months ended March 31, 2016, the company recorded charges of $4 million for professional services and other costs associated with the acquisition of Rexam.

Food and Aerosol Packaging

During the three months ended March 31, 2016, the company recorded charges of $9 million for employee severance and benefits, facility shutdown costs, and asset impairment and disposal costs for the closure of our Weirton, West Virginia, plant.

Other charges in the three months ended March 31, 2016, included $5 million of individually insignificant activities.

Other

During the three months ended March 31, 2016, the company recorded the following charges:

Expense of $24 million for professional services and other costs associated with the acquisition of Rexam.

Losses of $88 million associated with the collar, swap, 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 purchase price for the acquisition of Rexam.

Foreign currency losses of $96 million from the revaluation of foreign currency denominated restricted cash and intercompany loans related to the cash component of the Rexam acquisition purchase price, the sale of the Divestment Business and the revaluation of the euro-denominated debt issuance obtained in December 2015.

An unrealized loss of $36 million on the fair value of cross-currency swaps entered into in connection with the December 2015 issuance of the $1 billion senior notes due 2020.

Expense of $2 million for individually insignificant activities.