Shareholders’ Equity and Comprehensive Earnings

6 Months Ended

Jun. 30, 2017

Shareholders’ Equity

Comprehensive Income (Loss) Note [Text Block]

14.    Shareholders’ Equity and Comprehensive Earnings

In April of 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 was effective as of May 16, 2017.

Accumulated Other Comprehensive Earnings (Loss)

The activity related to accumulated other comprehensive earnings (loss) was as follows:

($ in millions)	Foreign Currency Translation (Net of Tax)		Pension and Other Postretirement Benefits            (Net of Tax)		Effective Derivatives (Net of Tax)		Accumulated Other Comprehensive Earnings (Loss)
Balance at December 31, 2016	$	(329)	$	(590)	$	(22)	$	(941)
Other comprehensive earnings (loss) before reclassifications		(3)		(23)		(25)		(51)
Amounts reclassified from accumulated other comprehensive earnings (loss)		—		11		62		73
Balance at June 30, 2017	$	(332)	$	(602)	$	15	$	(919)

The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive earnings (loss):

	Three Months Ended June 30,				Six Months Ended June 30,
($  in millions)	2017		2016		2017		2016
Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales	$	—	$	—	$	(3)	$	3
Commodity contracts recorded in cost of sales		9		(3)		17		(10)
Currency exchange contracts recorded in selling, general and administrative		—		(1)		—		(1)
Cross-currency swaps recorded in selling, general and administrative		(71)		1		(84)		1
Cross-currency swaps recorded in interest expense		5		—		10		—
Commodity and currency exchange contracts attributable to the divestment business recorded in business consolidation and other activities		—		(4)		—		(4)
Total before tax effect		(57)		(7)		(60)		(11)
Tax benefit (expense) on amounts reclassified into earnings		13		—		(2)		(2)
Recognized gain (loss)	$	(44)	$	(7)	$	(62)	$	(13)
Amortization of pension and other postretirement benefits: (a)
Prior service income (expense)	$	—	$	2	$	—	$	2
Actuarial gains (losses)		(8)		(90)		(17)		(99)
Total before tax effect		(8)		(88)		(17)		(97)
Tax benefit (expense) on amounts reclassified into earnings		3		23		6		26
Recognized gain (loss)	$	(5)	$	(65)	$	(11)	$	(71)

(a) The pension components are included in the computation of net periodic benefit cost included in Note 13.