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Employee Benefit Obligations
 6 Months Ended
Jun. 30, 2017
Employee Benefit Obligations  
Employee Benefit Obligations

13.    Employee Benefit Obligations

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

($ in millions)

    

2017

    

2016

 

 

 

 

 

 

 

Underfunded defined benefit pension liabilities

 

$

897

 

$

963

Less: Current portion

 

 

(26)

 

 

(25)

Long-term defined benefit pension liabilities

 

 

871

 

 

938

Retiree medical and other postemployment benefits

 

 

217

 

 

226

Deferred compensation plans

 

 

280

 

 

272

Other

 

 

61

 

 

61

 

 

$

1,429

 

$

1,497

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

 

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

Curtailment and settlement losses (gains) including special termination benefits

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

80

(a)

 

80

Net periodic benefit cost for Ball sponsored plans

 

 

21

 

 

 1

 

 

22

 

 

17

 

 

84

 

 

101

Net periodic benefit cost for multi-employer plans

 

 

 1

 

 

 —

 

 

 1

 

 

 —

 

 

 —

 

 

 —

Total net periodic benefit cost

 

$

22

 

$

 1

 

$

23

 

$

17

 

$

84

 

$

101

(a)

Amount relates to plans transferred to the Divestment Business.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

2017

 

2016

 

($ in millions)

    

U.S.

    

Foreign

    

Total

    

U.S.

    

Foreign

    

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ball-sponsored plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

24

 

$

 8

 

$

32

 

$

24

 

$

 6

 

$

30

 

Interest cost

 

 

66

 

 

44

 

 

110

 

 

30

 

 

 9

 

 

39

 

Expected return on plan assets

 

 

(66)

 

 

(52)

 

 

(118)

 

 

(36)

 

 

(9)

 

 

(45)

 

Recognized net actuarial loss

 

 

18

 

 

 2

 

 

20

 

 

15

 

 

 3

 

 

18

 

Curtailment and settlement losses (gains) including special termination benefits

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

80

(a)

 

80

 

Net periodic benefit cost for Ball sponsored plans

 

 

42

 

 

 2

 

 

44

 

 

33

 

 

89

 

 

122

 

Net periodic benefit cost for multi-employer plans

 

 

 2

 

 

 —

 

 

 2

 

 

 1

 

 

 —

 

 

 1

 

Total net periodic benefit cost

 

$

44

 

$

 2

 

$

46

 

$

34

 

$

89

 

$

123

 

(a)

Amount relates to plans transferred to the Divestment Business.

 

Contributions to the company’s defined benefit pension plans, not including unfunded German, Swedish and certain U.S. plans, were $110 million in the first six months of 2017 compared to $28 million in the first six 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 2017 contributions were contributions to acquired Rexam defined benefit pension plans. Payments to participants in the unfunded German, Swedish and certain U.S. plans were $12 million in the first six months of 2017 compared to $9 million in the first six months of 2016 and are expected to be approximately $20 million to $24 million for the full year of 2017.