Subsidiary Guarantees of Debt (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Condensed Consolidating Statement of Earnings

	Unaudited Condensed Consolidating Statement of Earnings
	Three Months Ended September 30, 2017
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Net sales	$	—	$	1,232	$	1,694	$	(18)	$	2,908
Cost and expenses
Cost of sales (excluding depreciation and amortization)		—		(1,003)		(1,353)		18		(2,338)
Depreciation and amortization		(1)		(38)		(123)		—		(162)
Selling, general and administrative		(41)		(40)		(46)		—		(127)
Business consolidation and other activities		(18)		(35)		(104)		—		(157)
Equity in results of subsidiaries		72		(29)		—		(43)		—
Intercompany		79		(42)		(37)		—		—
		91		(1,187)		(1,663)		(25)		(2,784)
Earnings (loss) before interest and taxes		91		45		31		(43)		124
Interest expense		(71)		1		(4)		—		(74)
Debt refinancing and other costs		—		—		—		—		—
Total interest expense		(71)		1		(4)		—		(74)
Earnings (loss) before taxes		20		46		27		(43)		50
Tax (provision) benefit		28		(19)		(13)		—		(4)
Equity in results of affiliates, net of tax		—		—		5		—		5
Net earnings (loss)		48		27		19		(43)		51
Less net earnings attributable to noncontrolling interests		—		—		(3)		—		(3)
Net earnings (loss) attributable to Ball Corporation	$	48	$	27	$	16	$	(43)	$	48
Comprehensive earnings (loss) attributable to Ball Corporation	$	42	$	21	$	13	$	(34)	$	42

	Unaudited Condensed Consolidating Statement of Earnings
	Three Months Ended September 30, 2016
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Net sales	$	—	$	1,214	$	1,626	$	(88)	$	2,752
Cost and expenses
Cost of sales (excluding depreciation and amortization)		—		(992)		(1,371)		88		(2,275)
Depreciation and amortization		(2)		(33)		(112)		—		(147)
Selling, general and administrative		(31)		(43)		(61)		—		(135)
Business consolidation and other activities		(154)		(7)		98		—		(63)
Equity in results of subsidiaries		339		39		—		(378)		—
Intercompany		78		(44)		(34)		—		—
		230		(1,080)		(1,480)		(290)		(2,620)
Earnings (loss) before interest and taxes		230		134		146		(378)		132
Interest expense		(66)		—		(14)		—		(80)
Debt refinancing and other costs		—		—		(2)		—		(2)
Total interest expense		(66)		—		(16)		—		(82)
Earnings (loss) before taxes		164		134		130		(378)		50
Tax (provision) benefit		(133)		56		54		—		(23)
Equity in results of affiliates, net of tax		—		1		6		—		7
Net earnings (loss)		31		191		190		(378)		34
Less net earnings attributable to noncontrolling interests		—		—		(3)		—		(3)
Net earnings (loss) attributable to Ball Corporation	$	31	$	191	$	187	$	(378)	$	31
Comprehensive earnings (loss) attributable  to Ball Corporation	$	7	$	171	$	167	$	(338)	$	7

	Unaudited Condensed Consolidating Statement of Earnings
	Nine Months Ended September 30, 2017
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Net sales	$	—	$	3,620	$	4,698	$	(82)	$	8,236
Cost and expenses
Cost of sales (excluding depreciation and amortization)		—		(2,972)		(3,693)		82		(6,583)
Depreciation and amortization		(5)		(111)		(423)		—		(539)
Selling, general and administrative		(141)		(118)		(139)		—		(398)
Business consolidation and other activities		(82)		(38)		(133)		—		(253)
Equity in results of subsidiaries		343		(23)		—		(320)		—
Intercompany		241		(129)		(112)		—		—
		356		(3,391)		(4,500)		(238)		(7,773)
Earnings (loss) before interest and taxes		356		229		198		(320)		463
Interest expense		(205)		4		(15)		—		(216)
Debt refinancing and other costs		—		—		(1)		—		(1)
Total interest expense		(205)		4		(16)		—		(217)
Earnings (loss) before taxes		151		233		182		(320)		246
Tax (provision) benefit		64		(83)		(29)		—		(48)
Equity in results of affiliates, net of tax		—		1		22		—		23
Net earnings		215		151		175		(320)		221
Less net earnings attributable to noncontrolling interests		—		—		(6)		—		(6)
Net earnings attributable to Ball Corporation	$	215	$	151	$	169	$	(320)	$	215
Comprehensive earnings (loss) attributable  to Ball Corporation	$	231	$	137	$	146	$	(283)	$	231

	Unaudited Condensed Consolidating Statement of Earnings
	Nine Months Ended September 30, 2016
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Net sales	$	—	$	3,495	$	3,213	$	(171)	$	6,537
Cost and expenses
Cost of sales (excluding depreciation and amortization)		—		(2,854)		(2,605)		171		(5,288)
Depreciation and amortization		(4)		(104)		(191)		—		(299)
Selling, general and administrative		(63)		(126)		(159)		—		(348)
Business consolidation and other activities		355		(30)		(627)		—		(302)
Equity in results of subsidiaries		(57)		359		—		(302)		—
Intercompany		189		(131)		(58)		—		—
		420		(2,886)		(3,640)		(131)		(6,237)
Earnings (loss) before interest and taxes		420		609		(427)		(302)		300
Interest expense		(141)		(1)		(17)		—		(159)
Debt refinancing and other costs		(97)		—		(11)		—		(108)
Total interest expense		(238)		(1)		(28)		—		(267)
Earnings (loss) before taxes		182		608		(455)		(302)		33
Tax (provision) benefit		28		6		140		—		174
Equity in results of affiliates, net of tax		—		—		6		—		6
Net earnings		210		614		(309)		(302)		213
Less net earnings attributable to noncontrolling interests		—		—		(3)		—		(3)
Net earnings attributable to Ball Corporation	$	210	$	614	$	(312)	$	(302)	$	210
Comprehensive earnings (loss) attributable  to Ball Corporation	$	233	$	651	$	(306)	$	(345)	$	233

Schedule of Condensed Consolidating Balance Sheet

	Unaudited Condensed Consolidating Balance Sheet
	September 30, 2017
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	6	$	—	$	550	$	—	$	556
Receivables, net		69		416		1,308		—		1,793
Intercompany receivables		45		120		959		(1,124)		—
Inventories, net		—		545		888		—		1,433
Other current assets		32		32		84		—		148
Total current assets		152		1,113		3,789		(1,124)		3,930
Noncurrent assets
Property, plant and equipment, net		21		1,193		3,311		—		4,525
Investment in subsidiaries		8,147		2,242		79		(10,468)		—
Goodwill		—		981		3,927		—		4,908
Intangible assets, net		17		68		2,405		—		2,490
Other assets		38		22		1,090		—		1,150
Total assets	$	8,375	$	5,619	$	14,601	$	(11,592)	$	17,003
Liabilities and Shareholders' Equity
Current liabilities
Short-term debt and current portion of long-term debt	$	293	$	—	$	159	$	—	$	452
Accounts payable		13		887		1,519		—		2,419
Intercompany payables		1,014		46		64		(1,124)		—
Accrued employee costs		26		116		156		—		298
Other current liabilities		187		67		355		—		609
Total current liabilities		1,533		1,116		2,253		(1,124)		3,778
Noncurrent liabilities
Long-term debt		6,497		—		607		—		7,104
Employee benefit obligations		343		345		718		—		1,406
Intercompany long-term notes		(3,372)		85		3,287		—		—
Deferred taxes		(353)		206		802		—		655
Other liabilities		197		14		211		—		422
Total liabilities		4,845		1,766		7,878		(1,124)		13,365
Common stock		1,072		635		4,426		(5,061)		1,072
Preferred stock		—		—		5		(5)		—
Retained earnings		4,864		4,045		2,758		(6,804)		4,863
Accumulated other comprehensive earnings (loss)		(925)		(827)		(575)		1,402		(925)
Treasury stock, at cost		(1,481)		—		—		—		(1,481)
Total Ball Corporation shareholders' equity		3,530		3,853		6,614		(10,468)		3,529
Noncontrolling interests		—		—		109		—		109
Total shareholders' equity		3,530		3,853		6,723		(10,468)		3,638
Total liabilities and shareholders' equity	$	8,375	$	5,619	$	14,601	$	(11,592)	$	17,003

	Unaudited Condensed Consolidating Balance Sheet
	December 31, 2016
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	2	$	(11)	$	606	$	—	$	597
Receivables, net		96		450		945		—		1,491
Intercompany receivables		39		125		963		(1,127)		—
Inventories, net		—		516		897		—		1,413
Other current assets		40		33		79		—		152
Total current assets		177		1,113		3,490		(1,127)		3,653
Noncurrent assets
Property, plant and equipment, net		23		1,087		3,277		—		4,387
Investment in subsidiaries		7,815		2,289		79		(10,183)		—
Goodwill		—		990		4,105		—		5,095
Intangible assets, net		18		76		1,840		—		1,934
Other assets		94		20		990		—		1,104
Total assets	$	8,127	$	5,575	$	13,781	$	(11,310)	$	16,173
Liabilities and Shareholders' Equity
Current liabilities
Short-term debt and current portion of long-term debt	$	141	$	—	$	81	$	—	$	222
Accounts payable		18		771		1,244		—		2,033
Intercompany payables		1,010		52		65		(1,127)		—
Accrued employee costs		25		135		155		—		315
Other current liabilities		138		65		196		—		399
Total current liabilities		1,332		1,023		1,741		(1,127)		2,969
Noncurrent liabilities
Long-term debt		6,337		—		973		—		7,310
Employee benefit obligations		347		440		710		—		1,497
Intercompany long-term notes		(3,142)		178		2,964		—		—
Deferred taxes		(308)		198		549		—		439
Other liabilities		127		20		270		—		417
Total liabilities		4,693		1,859		7,207		(1,127)		12,632
Common stock		1,038		635		4,426		(5,061)		1,038
Preferred stock		—		—		5		(5)		—
Retained earnings		4,739		3,893		2,589		(6,482)		4,739
Accumulated other comprehensive earnings (loss)		(942)		(812)		(552)		1,365		(941)
Treasury stock, at cost		(1,401)		—		—		—		(1,401)
Total Ball Corporation shareholders' equity		3,434		3,716		6,468		(10,183)		3,435
Noncontrolling interests		—		—		106		—		106
Total shareholders' equity		3,434		3,716		6,574		(10,183)		3,541
Total liabilities and shareholders' equity	$	8,127	$	5,575	$	13,781	$	(11,310)	$	16,173

Schedule of Condensed Consolidating Statement of Cash Flows

	Unaudited Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 30, 2017
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Consolidated Total
Cash provided by (used in) operating activities	$	266	$	282	$	199	$	747
Cash flows from investing activities
Capital expenditures		(5)		(232)		(167)		(404)
Business dispositions, net of cash sold		—		31		—		31
Other, net		1		27		(25)		3
Cash provided by (used in) investing activities		(4)		(174)		(192)		(370)
Cash flows from financing activities
Long-term borrowings		440		—		—		440
Repayments of long-term borrowings		(433)		—		(476)		(909)
Net change in short-term borrowings		151		—		69		220
Proceeds from issuances of common stock, net of shares used for taxes		18		—		—		18
Acquisitions of treasury stock		(103)		—		—		(103)
Common stock dividends		(93)		—		—		(93)
Intercompany		(231)		(95)		326		—
Other, net		—		(2)		—		(2)
Cash provided by (used in) financing activities		(251)		(97)		(81)		(429)
Effect of exchange rate changes on cash		(7)		—		18		11
Change in cash and cash equivalents		4		11		(56)		(41)
Cash and cash equivalents – beginning of period		2		(11)		606		597
Cash and cash equivalents – end of period	$	6	$	—	$	550	$	556

	Unaudited Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 30, 2016
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Consolidated Total
Cash provided by (used in) operating activities	$	(385)	$	155	$	(203)	$	(433)
Cash flows from investing activities
Capital expenditures		(10)		(170)		(218)		(398)
Business acquisition, net of cash acquired		2,303		(36)		(5,646)		(3,379)
Business dispositions, net of cash sold		1,010		—		1,931		2,941
Decrease in restricted cash		1,966		—		—		1,966
Settlement of Rexam acquisition related derivatives		(252)		—		—		(252)
Other, net		—		7		(5)		2
Cash flows from investing continuing operations		5,017		(199)		(3,938)		880
Cash flows from financing activities
Long-term borrowings		2,610		—		1,760		4,370
Repayments of long-term borrowings		(921)		—		(3,427)		(4,348)
Net change in short-term borrowings		200		—		(44)		156
Proceeds from issuances of common stock, net of shares used for taxes		38		—		—		38
Acquisitions of treasury stock		(98)		—		—		(98)
Common stock dividends		(60)		—		—		(60)
Intercompany		(6,351)		46		6,305		—
Other, net		(5)		(1)		(9)		(15)
Cash provided by (used in) financing activities		(4,587)		45		4,585		43
Effect of exchange rate changes on cash		4		—		(73)		(69)
Change in cash and cash equivalents		49		1		371		421
Cash and cash equivalents – beginning of period		5		—		219		224
Cash and cash equivalents – end of period	$	54	$	1	$	590	$	645

Guarantees Relating to Senior Notes

Schedule of Condensed Consolidating Statement of Earnings

	Unaudited Condensed Consolidating Statement of Earnings
	Three Months Ended September 30, 2017
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Net sales	$	—	$	1,232	$	1,694	$	(18)	$	2,908
Cost and expenses
Cost of sales (excluding depreciation and amortization)		—		(1,003)		(1,353)		18		(2,338)
Depreciation and amortization		(1)		(38)		(123)		—		(162)
Selling, general and administrative		(41)		(31)		(55)		—		(127)
Business consolidation and other activities		(18)		(37)		(102)		—		(157)
Equity in results of subsidiaries		72		(52)		(28)		8		—
Intercompany		79		(40)		(39)		—		—
		91		(1,201)		(1,700)		26		(2,784)
Earnings (loss) before interest and taxes		91		31		(6)		8		124
Interest expense		(71)		1		(4)		—		(74)
Debt refinancing and other costs		—		—		—		—		—
Total interest expense		(71)		1		(4)		—		(74)
Earnings (loss) before taxes		20		32		(10)		8		50
Tax (provision) benefit		28		(19)		(13)		—		(4)
Equity in results of affiliates, net of tax		—		—		5		—		5
Net earnings (loss)		48		13		(18)		8		51
Less net earnings attributable to noncontrolling interests		—		—		(3)		—		(3)
Net earnings (loss) attributable to Ball Corporation	$	48	$	13	$	(21)	$	8	$	48
Comprehensive earnings (loss) attributable to Ball Corporation	$	42	$	12	$	(25)	$	13	$	42

	Unaudited Condensed Consolidating Statement of Earnings
	Three Months Ended September 30, 2016
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Net sales	$	—	$	1,214	$	1,626	$	(88)	$	2,752
Cost and expenses
Cost of sales (excluding depreciation and amortization)		—		(992)		(1,371)		88		(2,275)
Depreciation and amortization		(2)		(33)		(112)		—		(147)
Selling, general and administrative		(31)		(46)		(58)		—		(135)
Business consolidation and other activities		(154)		(10)		101		—		(63)
Equity in results of subsidiaries		339		258		91		(688)		—
Intercompany		78		(52)		(26)		—		—
		230		(875)		(1,375)		(600)		(2,620)
Earnings (loss) before interest and taxes		230		339		251		(688)		132
Interest expense		(66)		—		(14)		—		(80)
Debt refinancing and other costs		—		—		(2)		—		(2)
Total interest expense		(66)		—		(16)		—		(82)
Earnings (loss) before taxes		164		339		235		(688)		50
Tax (provision) benefit		(133)		(56)		166		—		(23)
Equity in results of affiliates, net of tax		—		1		6		—		7
Net earnings (loss)		31		284		407		(688)		34
Less net earnings attributable to noncontrolling interests		—		—		(3)		—		(3)
Net earnings (loss) attributable to Ball Corporation	$	31	$	284	$	404	$	(688)	$	31
Comprehensive earnings (loss) attributable  to Ball Corporation	$	7	$	265	$	386	$	(651)	$	7

	Unaudited Condensed Consolidating Statement of Earnings
	Nine Months Ended September 30, 2017
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Net sales	$	—	$	3,620	$	4,698	$	(82)	$	8,236
Cost and expenses
Cost of sales (excluding depreciation and amortization)		—		(2,973)		(3,692)		82		(6,583)
Depreciation and amortization		(5)		(111)		(423)		—		(539)
Selling, general and administrative		(141)		(88)		(169)		—		(398)
Business consolidation and other activities		(82)		(42)		(129)		—		(253)
Equity in results of subsidiaries		343		(35)		(29)		(279)		—
Intercompany		241		(123)		(118)		—		—
		356		(3,372)		(4,560)		(197)		(7,773)
Earnings (loss) before interest and taxes		356		248		138		(279)		463
Interest expense		(205)		4		(15)		—		(216)
Debt refinancing and other costs		—		—		(1)		—		(1)
Total interest expense		(205)		4		(16)		—		(217)
Earnings (loss) before taxes		151		252		122		(279)		246
Tax (provision) benefit		64		(83)		(29)		—		(48)
Equity in results of affiliates, net of tax		—		1		22		—		23
Net earnings		215		170		115		(279)		221
Less net earnings attributable to noncontrolling interests		—		—		(6)		—		(6)
Net earnings attributable to Ball Corporation	$	215	$	170	$	109	$	(279)	$	215
Comprehensive earnings (loss) attributable  to Ball Corporation	$	231	$	166	$	90	$	(256)	$	231

	Unaudited Condensed Consolidating Statement of Earnings
	Nine Months Ended September 30, 2016
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Net sales	$	—	$	3,495	$	3,213	$	(171)	$	6,537
Cost and expenses
Cost of sales (excluding depreciation and amortization)		—		(2,854)		(2,605)		171		(5,288)
Depreciation and amortization		(4)		(104)		(191)		—		(299)
Selling, general and administrative		(63)		(129)		(156)		—		(348)
Business consolidation and other activities		355		(32)		(625)		—		(302)
Equity in results of subsidiaries		(57)		(247)		(721)		1,025		—
Intercompany		189		(136)		(53)		—		—
		420		(3,502)		(4,351)		1,196		(6,237)
Earnings (loss) before interest and taxes		420		(7)		(1,138)		1,025		300
Interest expense		(141)		(1)		(17)		—		(159)
Debt refinancing and other costs		(97)		—		(11)		—		(108)
Total interest expense		(238)		(1)		(28)		—		(267)
Earnings (loss) before taxes		182		(8)		(1,166)		1,025		33
Tax (provision) benefit		28		(108)		254		—		174
Equity in results of affiliates, net of tax		—		—		6		—		6
Net earnings		210		(116)		(906)		1,025		213
Less net earnings attributable to noncontrolling interests		—		—		(3)		—		(3)
Net earnings attributable to Ball Corporation	$	210	$	(116)	$	(909)	$	1,025	$	210
Comprehensive earnings (loss) attributable  to Ball Corporation	$	233	$	(85)	$	(901)	$	986	$	233

Schedule of Condensed Consolidating Balance Sheet

	Unaudited Condensed Consolidating Balance Sheet
	September 30, 2017
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	6	$	—	$	550	$	—	$	556
Receivables, net		69		417		1,307		—		1,793
Intercompany receivables		45		510		959		(1,514)		—
Inventories, net		—		545		888		—		1,433
Other current assets		32		38		78		—		148
Total current assets		152		1,510		3,782		(1,514)		3,930
Noncurrent assets
Property, plant and equipment, net		21		1,193		3,311		—		4,525
Investment in subsidiaries		8,147		4,235		403		(12,785)		—
Goodwill		—		981		3,927		—		4,908
Intangible assets, net		17		67		2,406		—		2,490
Other assets		38		300		812		—		1,150
Total assets	$	8,375	$	8,286	$	14,641	$	(14,299)	$	17,003
Liabilities and Shareholders' Equity
Current liabilities
Short-term debt and current portion of long-term debt	$	293	$	—	$	159	$	—	$	452
Accounts payable		13		887		1,519		—		2,419
Intercompany payables		1,014		47		453		(1,514)		—
Accrued employee costs		26		126		146		—		298
Other current liabilities		187		71		351		—		609
Total current liabilities		1,533		1,131		2,628		(1,514)		3,778
Noncurrent liabilities
Long-term debt		6,497		—		607		—		7,104
Employee benefit obligations		343		641		422		—		1,406
Intercompany long-term notes		(3,372)		1,959		1,414		(1)		—
Deferred taxes		(353)		239		769		—		655
Other liabilities		197		29		196		—		422
Total liabilities		4,845		3,999		6,036		(1,515)		13,365
Common stock		1,072		1,128		6,293		(7,421)		1,072
Preferred stock		—		—		5		(5)		—
Retained earnings		4,864		4,001		2,769		(6,771)		4,863
Accumulated other comprehensive earnings (loss)		(925)		(842)		(571)		1,413		(925)
Treasury stock, at cost		(1,481)		—		—		—		(1,481)
Total Ball Corporation shareholders' equity		3,530		4,287		8,496		(12,784)		3,529
Noncontrolling interests		—		—		109		—		109
Total shareholders' equity		3,530		4,287		8,605		(12,784)		3,638
Total liabilities and shareholders' equity	$	8,375	$	8,286	$	14,641	$	(14,299)	$	17,003

	Unaudited Condensed Consolidating Balance Sheet
	December 31, 2016
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Eliminating Adjustments		Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	2	$	(11)	$	606	$	—	$	597
Receivables, net		96		450		945		—		1,491
Intercompany receivables		39		467		963		(1,469)		—
Inventories, net		—		516		897		—		1,413
Other current assets		40		39		73		—		152
Total current assets		177		1,461		3,484		(1,469)		3,653
Noncurrent assets
Property, plant and equipment, net		23		1,087		3,277		—		4,387
Investment in subsidiaries		7,815		4,291		423		(12,529)		—
Goodwill		—		985		4,110		—		5,095
Intangible assets, net		18		76		1,840		—		1,934
Other assets		94		306		704		—		1,104
Total assets	$	8,127	$	8,206	$	13,838	$	(13,998)	$	16,173
Liabilities and Shareholders' Equity
Current liabilities
Short-term debt and current portion of long-term debt	$	141	$	—	$	81	$	—	$	222
Accounts payable		18		772		1,243		—		2,033
Intercompany payables		1,010		53		408		(1,471)		—
Accrued employee costs		25		152		138		—		315
Other current liabilities		138		69		192		—		399
Total current liabilities		1,332		1,046		2,062		(1,471)		2,969
Noncurrent liabilities
Long-term debt		6,337		—		973		—		7,310
Employee benefit obligations		347		760		390		—		1,497
Intercompany long-term notes		(3,142)		2,018		1,122		2		—
Deferred taxes		(308)		232		515		—		439
Other liabilities		127		35		255		—		417
Total liabilities		4,693		4,091		5,317		(1,469)		12,632
Common stock		1,038		1,120		6,301		(7,421)		1,038
Preferred stock		—		—		5		(5)		—
Retained earnings		4,739		3,832		2,661		(6,493)		4,739
Accumulated other comprehensive earnings (loss)		(942)		(837)		(552)		1,390		(941)
Treasury stock, at cost		(1,401)		—		—		—		(1,401)
Total Ball Corporation shareholders' equity		3,434		4,115		8,415		(12,529)		3,435
Noncontrolling interests		—		—		106		—		106
Total shareholders' equity		3,434		4,115		8,521		(12,529)		3,541
Total liabilities and shareholders' equity	$	8,127	$	8,206	$	13,838	$	(13,998)	$	16,173

Schedule of Condensed Consolidating Statement of Cash Flows

	Unaudited Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 30, 2017
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Consolidated Total
Cash provided by (used in) operating activities	$	266	$	290	$	191	$	747
Cash flows from investing activities
Capital expenditures		(5)		(232)		(167)		(404)
Proceeds from dispositions, net of cash sold		—		31		—		31
Other, net		1		33		(31)		3
Cash provided by (used in) investing activities		(4)		(168)		(198)		(370)
Cash flows from financing activities
Long-term borrowings		440		—		—		440
Repayments of long-term borrowings		(433)		—		(476)		(909)
Net change in short-term borrowings		151		—		69		220
Proceeds from issuances of common stock, net of shares used for taxes		18		—		—		18
Acquisitions of treasury stock		(103)		—		—		(103)
Common stock dividends		(93)		—		—		(93)
Intercompany		(231)		(109)		340		—
Other, net		—		(2)		—		(2)
Cash provided by (used in) financing activities		(251)		(111)		(67)		(429)
Effect of exchange rate changes on cash		(7)		—		18		11
Change in cash and cash equivalents		4		11		(56)		(41)
Cash and cash equivalents – beginning of period		2		(11)		606		597
Cash and cash equivalents – end of period	$	6	$	—	$	550	$	556

	Unaudited Condensed Consolidating Statement of Cash Flows
	Nine Months Ended September 30, 2016
($ in millions)	Ball Corporation		Guarantor Subsidiaries		Non-Guarantor    Subsidiaries		Consolidated Total
Cash provided by (used in) operating activities	$	(385)	$	144	$	(192)	$	(433)
Cash flows from investing activities
Capital expenditures		(10)		(170)		(218)		(398)
Business acquisition, net of cash acquired		2,303		(1,674)		(4,008)		(3,379)
Proceeds from dispositions, net of cash sold		1,010		—		1,931		2,941
Decrease in restricted cash		1,966		—		—		1,966
Settlement of Rexam acquisition related derivatives		(252)		—		—		(252)
Other, net		—		7		(5)		2
Cash provided by (used in) investing activities		5,017		(1,837)		(2,300)		880
Cash flows from financing activities
Long-term borrowings		2,610		—		1,760		4,370
Repayments of long-term borrowings		(921)		—		(3,427)		(4,348)
Net change in short-term borrowings		200		(30)		(14)		156
Proceeds from issuances of common stock, net of shares used for taxes		38		—		—		38
Acquisitions of treasury stock		(98)		—		—		(98)
Common stock dividends		(60)		—		—		(60)
Intercompany		(6,351)		1,722		4,629		—
Other, net		(5)		(1)		(9)		(15)
Cash provided by (used in) financing activities		(4,587)		1,691		2,939		43
Effect of exchange rate changes on cash		4		3		(76)		(69)
Change in cash and cash equivalents		49		1		371		421
Cash and cash equivalents – beginning of period		5		—		219		224
Cash and cash equivalents – end of period	$	54	$	1	$	590	$	645