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Employee Benefit Obligations
3 Months Ended
Mar. 31, 2017
Employee Benefit Obligations  
Employee Benefit Obligations

13.    Employee Benefit Obligations

 

 

 

 

 

 

 

 

 

 

March 31,

 

December 31,

($ in millions)

    

2017

    

2016

 

 

 

 

 

 

 

Underfunded defined benefit pension liabilities

 

$

969

 

$

963

Less current portion

 

 

(21)

 

 

(25)

Long-term defined benefit pension liabilities

 

 

948

 

 

938

Retiree medical and other postemployment benefits

 

 

219

 

 

226

Deferred compensation plans

 

 

261

 

 

272

Other

 

 

59

 

 

61

 

 

$

1,487

 

$

1,497

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

 

2017

 

2016

 

($ in millions)

    

U.S.

    

Foreign

    

Total

    

U.S.

    

Foreign

    

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ball-sponsored plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

12

 

$

 4

 

$

16

 

$

12

 

$

 3

 

$

15

 

Interest cost

 

 

33

 

 

22

 

 

55

 

 

15

 

 

 5

 

 

20

 

Expected return on plan assets

 

 

(33)

 

 

(26)

 

 

(59)

 

 

(18)

 

 

(5)

 

 

(23)

 

Recognized net actuarial loss

 

 

 9

 

 

 1

 

 

10

 

 

 8

 

 

 1

 

 

 9

 

Net periodic benefit cost for Ball sponsored plans

 

 

21

 

 

 1

 

 

22

 

 

17

 

 

 4

 

 

21

 

Net periodic benefit cost for multi-employer plans

 

 

 1

 

 

 —

 

 

 1

 

 

 —

 

 

 —

 

 

 —

 

Total net periodic benefit cost

 

$

22

 

$

 1

 

$

23

 

$

17

 

$

 4

 

$

21

 

 

Contributions to the company’s defined benefit pension plans, not including unfunded German, Swedish and certain U.S. plans, were $8 million in the first three months of 2017 compared to $20 million in the first three months of 2016, and are expected to be in the range of $190 million for the full year of 2017. This estimate may change based on any changes to the U.S. Pension Protection Act and actual plan asset performance, among other factors. Included in the contributions during the first three months of 2017 were contributions to acquired Rexam defined benefit pension plans. Payments to participants in the unfunded German, Swedish and certain U.S. plans were $6 million in the first three months of 2017 and are expected to be approximately $20 million for the full year of 2017.