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Earnings and Dividends Per Share
 3 Months Ended
Mar. 31, 2017
Earnings Per Share  
Earnings Per Share

16.    Earnings and Dividends Per Share

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

($ in millions, except per share amounts; shares in thousands)

    

2017

    

2016

 

 

 

 

 

 

 

Net earnings attributable to Ball Corporation

 

$

68

 

$

(127)

 

 

 

 

 

 

 

Basic weighted average common shares

 

 

175,024

 

 

141,793

Effect of dilutive securities

 

 

3,943

 

 

 —

Weighted average shares applicable to diluted earnings per share

 

 

178,967

 

 

141,793

 

 

 

 

 

 

 

Per basic share

 

$

0.39

 

$

(0.90)

Per diluted share

 

$

0.38

 

$

(0.90)

 

The company reported a net loss in the first three months of 2016 and, as a result, all potentially issuable securities were excluded in the diluted earnings per share calculation as their effect would have been anti-dilutive. Had these securities been included, weighted average shares applicable to diluted earnings per share would have been 145,100. In the first three months of 2017, approximately 2 million outstanding options were excluded from the diluted earnings per share calculation because they were anti-dilutive (i.e., the sum of the assumed exercise proceeds and the unrecognized compensation exceeded the average closing stock price for the period).  

 

The company declared and paid dividends of $0.13 per share in the first quarter of both 2017 and 2016.

 

Subsequent Event

 

On April 26, 2017, the company’s board of directors declared a two-for-one split of Ball Corporation’s common stock  and increased the quarterly cash dividend by 54 percent to 10 cents on a post-split basis. The stock split will be effective May 16, 2017, for shareholders of record on May 8, 2017. Below are pro forma weighted average shares and earnings per share as if the effective date had been January 1, 2016.

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

($ in millions, except per share amounts; shares in thousands)

    

2017

    

2016

 

 

 

 

 

 

 

Net earnings attributable to Ball Corporation

 

$

68

 

$

(127)

 

 

 

 

 

 

 

Basic weighted average common shares

 

 

350,048

 

 

283,586

Effect of dilutive securities

 

 

7,886

 

 

 —

Weighted average shares applicable to diluted earnings per share

 

 

357,934

 

 

283,586

 

 

 

 

 

 

 

Per basic share

 

$

0.19

 

$

(0.45)

Per diluted share

 

$

0.19

 

$

(0.45)