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Employee Benefit Obligations
 3 Months Ended
Mar. 31, 2018
Employee Benefit Obligations  
Employee Benefit Obligations

15.    Employee Benefit Obligations

 

 

 

 

 

 

 

 

 

 

March 31,

 

December 31,

($ in millions)

 

2018

    

2017

 

 

 

 

 

 

 

Underfunded defined benefit pension liabilities

 

$

957

 

$

945

Less: Current portion

 

 

(23)

 

 

(27)

Long-term defined benefit pension liabilities

 

 

934

 

 

918

Long-term retiree medical liabilities

 

 

198

 

 

196

Deferred compensation plans

 

 

275

 

 

275

Other

 

 

77

 

 

74

 

 

$

1,484

 

$

1,463

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

2018

 

2017

($ in millions)

    

U.S.

    

Foreign

    

Total

    

U.S.

    

Foreign

    

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ball-sponsored plans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

13

 

$

 4

 

$

17

 

$

12

 

$

 4

 

$

16

Interest cost

 

 

24

 

 

18

 

 

42

 

 

33

 

 

22

 

 

55

Expected return on plan assets

 

 

(27)

 

 

(27)

 

 

(54)

 

 

(33)

 

 

(26)

 

 

(59)

Recognized net actuarial loss

 

 

10

 

 

 1

 

 

11

 

 

 9

 

 

 1

 

 

10

Net periodic benefit cost for Ball sponsored plans

 

 

20

 

 

(4)

 

 

16

 

 

21

 

 

 1

 

 

22

Net periodic benefit cost for multi-employer plans

 

 

 —

 

 

 —

 

 

 —

 

 

 1

 

 

 —

 

 

 1

Total net periodic benefit cost

 

$

20

 

$

(4)

 

$

16

 

$

22

 

$

 1

 

$

23

 

Non-service pension income totaling $1 million for the three months ended March 31, 2018, are included in SG&A expenses. Non-service pension costs totaling $6 million for the three months ended March 31, 2017, are included in cost of sales and SG&A and were not retrospectively adjusted due to immateriality.

 

Contributions to the company’s defined benefit pension plans, not including unfunded German, Swedish and certain U.S. plans, were $3 million in the first three months of 2018 compared to $8 million in the first three months of 2017 and are expected to be in the range of $45 million for the full year of 2018. This estimate may change based on any changes to the U.S. Pension Protection Act and actual plan asset performance, among other factors. Payments to participants in the unfunded German, Swedish and certain U.S. plans were $5  million in the first three months of 2018 compared to $6 million in the first three months of 2017 and are expected to be in the range of $21 million for the full year of 2018.