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Business Segment Information (Tables)
 6 Months Ended
Jun. 30, 2017
Business Segment Information  
Summary of business by segment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

($ in millions)

    

2017

    

2016

    

2017

    

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Beverage packaging, North and Central America

 

$

1,151

 

$

844

 

$

2,100

 

$

1,577

Beverage packaging, South America

 

 

349

 

 

133

 

 

720

 

 

258

Beverage packaging, Europe

 

 

665

 

 

479

 

 

1,173

 

 

835

Food and aerosol packaging

 

 

274

 

 

298

 

 

546

 

 

583

Aerospace

 

 

257

 

 

193

 

 

493

 

 

373

Reportable segment sales

 

 

2,696

 

 

1,947

 

 

5,032

 

 

3,626

Other

 

 

159

 

 

83

 

 

296

 

 

159

Net sales

 

$

2,855

 

$

2,030

 

$

5,328

 

$

3,785

 

 

 

 

 

 

 

 

 

 

 

 

 

Comparable operating earnings

 

 

 

 

 

 

 

 

 

 

 

 

Beverage packaging, North and Central America (b)

 

$

156

 

$

118

 

$

279

 

$

211

Beverage packaging, South America (b)

 

 

69

 

 

22

 

 

127

 

 

39

Beverage packaging, Europe (b)

 

 

63

 

 

74

 

 

110

 

 

113

Food and aerosol packaging

 

 

25

 

 

33

 

 

46

 

 

53

Aerospace

 

 

26

 

 

19

 

 

47

 

 

37

Reportable segment comparable operating earnings

 

 

339

 

 

266

 

 

609

 

 

453

Reconciling items

 

 

 

 

 

 

 

 

 

 

 

 

Other (a) (b)

 

 

(21)

 

 

(15)

 

 

(52)

 

 

(46)

Business consolidation and other activities

 

 

(41)

 

 

28

 

 

(96)

 

 

(239)

Amortization of acquired Rexam intangibles

 

 

(51)

 

 

 —

 

 

(83)

 

 

 —

Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation

 

 

(39)

 

 

 —

 

 

(39)

 

 

 —

Earnings before interest and taxes

 

 

187

 

 

279

 

 

339

 

 

168

Interest expense

 

 

(74)

 

 

(41)

 

 

(142)

 

 

(79)

Debt refinancing and other costs

 

 

(1)

 

 

(46)

 

 

(1)

 

 

(106)

Total interest expense

 

 

(75)

 

 

(87)

 

 

(143)

 

 

(185)

Earnings (loss) before taxes

 

 

112

 

 

192

 

 

196

 

 

(17)

Tax (provision) benefit

 

 

(22)

 

 

114

 

 

(44)

 

 

197

Equity in results of affiliates, net of tax

 

 

10

 

 

 1

 

 

18

 

 

 —

Net earnings

 

 

100

 

 

307

 

 

170

 

 

180

Net earnings attributable to noncontrolling interests

 

 

(1)

 

 

 —

 

 

(3)

 

 

 —

Net earnings attributable to Ball Corporation

 

$

99

 

$

307

 

$

167

 

$

180

(a)

Includes undistributed corporate expenses, net, of $32 million and $12 million for the three months ended June 30, 2017 and 2016, respectively, and $77 million and $35 million for the six months ended June 30, 2017 and 2016, respectively.

(b)

The three months ended June 30, 2017, includes catch-up depreciation for the three months ended March 31, 2017, from the finalization of fair values and useful lives for the Rexam acquisition associated with the following segments: $8 million for beverage packaging, Europe; $1 million for beverage packaging, North and Central America; $1 million for beverage packaging, South America; and $1 million for other.