Acquisitions and Dispositions	9 Months Ended
Sep. 30, 2018
Acquisitions and Dispositions
Acquisitions and Dispositions	4. Acquisitions and Dispositions On July 31, 2018, Ball sold its U.S. steel food and steel aerosol packaging business and formed a joint venture, Ball Metalpack. In exchange for the sale of this business, Ball received approximately $600 million of cash proceeds, subject to customary closing adjustments, as well as a 49 percent ownership interest in Ball Metalpack, which is reported in other assets as an equity method investment on Ball’s unaudited condensed consolidated balance sheets. This transaction enhances our ability to return additional value to shareholders via share repurchases. Ball recorded a loss of $38 million upon completion of the sale. This loss was recorded in business consolidation and other activities in the unaudited condensed consolidated statement of earnings. The assets sold included nine plants that manufacture and sell steel food and steel aerosol containers. The manufacturing plants were located in Canton and Columbus, Ohio; Milwaukee and Deforest, Wisconsin; Chestnut Hill, Tennessee; Horsham, Pennsylvania; Springdale, Arkansas; and Oakdale, California. In connection with the sale of the U.S. steel food and steel aerosol business, the company entered into an agreement to supply metal to Ball Metalpack through December 31, 2018, and agreements to provide transition and other services to Ball Metalpack. During the three and nine months ended September 30, 2018, Ball Metalpack purchased $62 million of metal from Ball, which was equivalent to Ball’s cost; as such, the arrangement generated no profit for Ball, and Ball’s metal sales to Ball Metalpack are netted against the cost of Ball’s related metal purchases in the company’s unaudited condensed consolidated statements of earnings. At September 30, 2018, Ball is owed $78 million related to the above agreements, which is reported in receivables, net on Ball’s unaudited condensed consolidated balance sheets.

4. Acquisitions and Dispositions

On July 31, 2018, Ball sold its U.S. steel food and steel aerosol packaging business and formed a joint venture, Ball Metalpack. In exchange for the sale of this business, Ball received approximately $600 million of cash proceeds, subject to customary closing adjustments, as well as a 49 percent ownership interest in Ball Metalpack, which is reported in other assets as an equity method investment on Ball’s unaudited condensed consolidated balance sheets. This transaction enhances our ability to return additional value to shareholders via share repurchases.

Ball recorded a loss of $38 million upon completion of the sale. This loss was recorded in business consolidation and other activities in the unaudited condensed consolidated statement of earnings.

The assets sold included nine plants that manufacture and sell steel food and steel aerosol containers. The manufacturing plants were located in Canton and Columbus, Ohio; Milwaukee and Deforest, Wisconsin; Chestnut Hill, Tennessee; Horsham, Pennsylvania; Springdale, Arkansas; and Oakdale, California.

In connection with the sale of the U.S. steel food and steel aerosol business, the company entered into an agreement to supply metal to Ball Metalpack through December 31, 2018, and agreements to provide transition and other services to Ball Metalpack. During the three and nine months ended September 30, 2018, Ball Metalpack purchased $62 million of metal from Ball, which was equivalent to Ball’s cost; as such, the arrangement generated no profit for Ball, and Ball’s metal sales to Ball Metalpack are netted against the cost of Ball’s related metal purchases in the company’s unaudited condensed consolidated statements of earnings. At September 30, 2018, Ball is owed $78 million related to the above agreements, which is reported in receivables, net on Ball’s unaudited condensed consolidated balance sheets.