3. Business Segment Information

Ball’s operations are organized and reviewed by management along its product lines and geographical areas and presented in the five reportable segments outlined below:

Beverage packaging, North and Central America: Consists of operations in the U.S., Canada and Mexico that manufacture and sell metal beverage containers.

Beverage packaging, South America: Consists of operations in Brazil, Argentina and Chile that manufacture and sell metal beverage containers.

Beverage packaging, Europe: Consists of operations in numerous countries in Europe, including Russia, that manufacture and sell metal beverage containers.

Food and aerosol packaging: Consists of operations in the U.S., Europe, Canada, Mexico, Argentina and India that manufacture and sell steel food and aerosol containers, extruded aluminum aerosol containers and aluminum slugs.

Aerospace: Consists of operations that manufacture and sell aerospace and other related products and provide services used in the defense, civil space and commercial space industries.

Other consists of non-reportable segments in Africa, Middle East and Asia (AMEA) and Asia Pacific that manufacture and sell metal beverage containers, undistributed corporate expenses, intercompany eliminations and other business activities.

The accounting policies of the segments are the same as those in the consolidated financial statements and are discussed in Note 1. The company also has investments in operations in Guatemala, Panama, South Korea, the U.S. and Vietnam that are accounted for under the equity method of accounting and, accordingly, those results are not included in segment sales or earnings.

Summary of Business by Segment


	Three Months Ended September 30,				Nine Months Ended September 30,
($ in millions)	2017		2016		2017		2016

Net sales
Beverage packaging, North and Central America	$	1,080	$	1,076	$	3,180	$	2,653
Beverage packaging, South America		425		318		1,145		577
Beverage packaging, Europe		651		624		1,824		1,459
Food and aerosol packaging		321		329		867		911
Aerospace		241		204		734		577
Reportable segment sales		2,718		2,551		7,750		6,177
Other		190		201		486		360
Net sales	$	2,908	$	2,752	$	8,236	$	6,537

Comparable operating earnings
Beverage packaging, North and Central America	$	121	$	145	$	400	$	356
Beverage packaging, South America		78		60		205		100
Beverage packaging, Europe		74		72		184		184
Food and aerosol packaging		30		31		76		84
Aerospace		23		24		70		61
Reportable segment comparable operating earnings		326		332		935		785
Reconciling items
Other (a)		(13)		(21)		(65)		(67)
Business consolidation and other activities		(157)		(63)		(253)		(302)
Amortization of acquired Rexam intangibles		(37)		(33)		(120)		(33)
Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation		5		—		(34)		—
Cost of sales associated with Rexam inventory step-up		—		(83)		—		(83)
Earnings before interest and taxes		124		132		463		300
Interest expense		(74)		(80)		(216)		(159)
Debt refinancing and other costs		—		(2)		(1)		(108)
Total interest expense		(74)		(82)		(217)		(267)
Earnings before taxes		50		50		246		33
Tax (provision) benefit		(4)		(23)		(48)		174
Equity in results of affiliates, net of tax		5		7		23		6
Net earnings		51		34		221		213
Net earnings attributable to noncontrolling interests		(3)		(3)		(6)		(3)
Net earnings attributable to Ball Corporation	$	48	$	31	$	215	$	210

(a)

Includes undistributed corporate expenses, net, of $29 million and $43 million for the third quarter of 2017 and 2016, respectively, and $106 million and $78 million for the first nine months of 2017 and 2016, respectively.

The company does not disclose total assets by segment as it is not provided to the chief operating decision makers.