Equity and Accumulated Other Comprehensive Earnings (Tables)

9 Months Ended

Sep. 30, 2019

Equity and Accumulated Other Comprehensive Earnings

Schedule of company's equity activity

	Ball Corporation and Subsidiaries
	Common Stock			Treasury Stock					Accumulated Other
	Number of			Number of			Retained		Comprehensive		Noncontrolling		Total
($ in millions; share amounts in thousands)	Shares	Amount		Shares	Amount		Earnings		Earnings (Loss)		Interest		Equity
Balance at June 30, 2019	675,463	$	1,172	(343,623)	$	(2,566)	$	5,651	$	(797)	$	104	$	3,564
Net earnings	—		—	—		—		92		—		—		92
Other comprehensive earnings (loss), net of tax	—		—	—		—		—		36		—		36
Currency translation recognized in earnings as a result of the transfer of the Argentina steel aerosol business to held for sale	—		—	—		—		—		45		—		45
Common dividends, net of tax benefits	—		—	—		—		(49)		—		—		(49)
Treasury stock purchases	—		—	(3,296)		(232)		—		—		—		(232)
Treasury shares reissued	—		—	64		7		—		—		—		7
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	588		7	—		—		—		—		—		7
Other activity	—		(2)	—		1		—		—		(4)		(5)
Balance at September 30, 2019	676,051	$	1,177	(346,855)	$	(2,790)	$	5,694	$	(716)	$	100	$	3,465

	Ball Corporation and Subsidiaries
	Common Stock			Treasury Stock					Accumulated Other
	Number of			Number of			Retained		Comprehensive		Noncontrolling		Total
($ in millions; share amounts in thousands)	Shares	Amount		Shares	Amount		Earnings		Earnings (Loss)		Interest		Equity
Balance at June 30, 2018	672,070	$	1,120	(325,459)	$	(1,663)	$	5,199	$	(767)	$	106	$	3,995
Net earnings	—		—	—		—		59		—		—		59
Other comprehensive earnings (loss), net of tax	—		—	—		—		—		(33)		—		(33)
Common dividends, net of tax benefits	—		—	—		—		(34)		—		—		(34)
Treasury stock purchases	—		—	(6,731)		(269)		—		—		—		(269)
Treasury shares reissued	—		—	172		7		—		—		—		7
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	629		21	—		—		—		—		—		21
Other activity	—		1	—		(1)		—		—		(1)		(1)
Balance at September 30, 2018	672,699	$	1,142	(332,018)	$	(1,926)	$	5,224	$	(800)	$	105	$	3,745

	Ball Corporation and Subsidiaries
	Common Stock			Treasury Stock					Accumulated Other
	Number of			Number of			Retained		Comprehensive		Noncontrolling		Total
($ in millions; share amounts in thousands)	Shares	Amount		Shares	Amount		Earnings		Earnings (Loss)		Interest		Equity
Balance at December 31, 2018	673,237	$	1,157	(337,979)	$	(2,205)	$	5,341	$	(835)	$	104	$	3,562
Net earnings	—		—	—		—		406		—		—		406
Other comprehensive earnings (loss), net of tax	—		—	—		—		—		153		—		153
Currency translation recognized in earnings as a result of the transfer of the Argentina steel aerosol business to held for sale	—		—	—		—		—		45		—		45
Reclassification of stranded tax effects	—		—	—		—		79		(79)		—		—
Common dividends, net of tax benefits	—			—		—		(133)		—		—		(133)
Treasury stock purchases	—		—	(9,470)		(612)		—		—		—		(612)
Treasury shares reissued	—		—	594		19		—		—		—		19
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	2,814		22	—		—		—		—		—		22
Other activity	—		(2)	—		8		1		—		(4)		3
Balance at September 30, 2019	676,051	$	1,177	(346,855)	$	(2,790)	$	5,694	$	(716)	$	100	$	3,465

	Ball Corporation and Subsidiaries
	Common Stock			Treasury Stock					Accumulated Other
	Number of			Number of			Retained		Comprehensive		Noncontrolling		Total
($ in millions; share amounts in thousands)	Shares	Amount		Shares	Amount		Earnings		Earnings (Loss)		Interest		Equity
Balance at December 31, 2017, as adjusted	670,576	$	1,084	(320,695)	$	(1,474)	$	5,024	$	(655)	$	105	$	4,084
Net earnings	—		—	—		—		303		—		1		304
Other comprehensive earnings (loss), net of tax	—		—	—		—		—		(144)		—		(144)
Common dividends, net of tax benefits	—		—	—		—		(104)		—		—		(104)
Treasury stock purchases	—		—	(11,990)		(471)		—		—		—		(471)
Treasury shares reissued	—		—	667		18		—		—		—		18
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	2,123		57	—		—		—		—		—		57
Other activity	—		1	—		1		1		(1)		(1)		1
Balance at September 30, 2018	672,699	$	1,142	(332,018)	$	(1,926)	$	5,224	$	(800)	$	105	$	3,745

Schedule of activity related to accumulated other comprehensive earnings (loss)

($ in millions)	Foreign Currency Translation (Net of Tax)		Pension and Other Postretirement Benefits (Net of Tax)		Derivatives Designated as Hedges (Net of Tax)		Accumulated Other Comprehensive Earnings (Loss)
Balance at December 31, 2018	$	(504)	$	(277)	$	(54)	$	(835)
Other comprehensive earnings (loss) before reclassifications		88		4		68		160
Amounts reclassified from accumulated other comprehensive earnings (loss) into earnings		—		24		(31)		(7)
Currency translation recognized in earnings from the transfer of the Argentina steel aerosol business to held for sale		45		—		—		45
Stranded tax effects reclassified into retained earnings		—		(76)		(3)		(79)
Balance at September 30, 2019	$	(371)	$	(325)	$	(20)	$	(716)

Information related to amounts reclassified into net earnings from accumulated other comprehensive earnings (loss)

	Three Months Ended September 30,				Nine Months Ended September 30,
($  in millions)	2019		2018		2019		2018
Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales	$	6	$	2	$	12	$	(2)
Commodity contracts recorded in cost of sales		(11)		19		(27)		47
Currency exchange contracts recorded in selling, general and administrative		6		—		5		1
Cross-currency swaps recorded in selling, general and administrative		32		7		41		37
Cross-currency swaps recorded in interest expense		3		4		11		10
Interest rate contracts recorded in interest expense		(1)		—		(1)		—
Total before tax effect		35		32		41		93
Tax benefit (expense) on amounts reclassified into earnings		(7)		(8)		(10)		(21)
Recognized gain (loss), net of tax	$	28	$	24	$	31	$	72
Amortization of pension and other postretirement benefits: (a)
Prior service income (expense)	$	(1)	$	—	$	(1)	$	—
Actuarial gains (losses)		(4)		(1)		(14)		(20)
Effect of pension settlements (b)		(8)		(14)		(8)		(14)
Total before tax effect		(13)		(15)		(23)		(34)
Tax benefit (expense) on amounts reclassified into earnings		(4)		4		(1)		9
Recognized gain (loss), net of tax	$	(17)	$	(11)	$	(24)	$	(25)

(a) The pension components are included in the computation of net periodic benefit cost disclosed in Note 17.

(b) 2019 and 2018 amounts include pretax settlement losses related to the purchase of non-participating group annuity contracts. Refer to Note 17 for further details.