Business Segment Information

3 Months Ended

Mar. 31, 2022

Business Segment Information

Business Segment Information

3.     Business Segment Information

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

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

Beverage packaging, EMEA: Consists of operations in numerous countries throughout Europe, including Russia, as well as Egypt and Turkey, that manufacture and sell aluminum beverage containers throughout those countries.

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

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.

As presented in the table below, Other consists of a non-reportable operating segment (beverage packaging, other) that manufactures and sells aluminum beverage containers in India, Saudi Arabia and throughout the Asia Pacific region; a non-reportable operating segment that manufactures and sells extruded aluminum aerosol containers and recloseable aluminum bottles across multiple consumer categories as well as aluminum slugs (aerosol packaging) throughout North America, South America, Europe, and Asia; a non-reportable operating segment that manufactures and sells aluminum cups (aluminum cups); undistributed corporate expenses; and intercompany eliminations and other business activities.

The accounting policies of the segments are the same as those used in the company’s consolidated financial statements as discussed in Note 1. The company also has investments in operations in Guatemala, Panama, 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. In 2021, Ball sold its minority-owned investment in South Korea. In January 2022, Ball sold its remaining equity method investment in Ball Metalpack. Refer to Note 4 for additional details on both transactions.

Summary of Business by Segment

	Three Months Ended March 31,
($ in millions)	2022		2021
Net sales
Beverage packaging, North and Central America	$	1,609	$	1,296
Beverage packaging, EMEA		942		796
Beverage packaging, South America		494		487
Aerospace		504		424
Reportable segment sales		3,549		3,003
Other		167		122
Net sales	$	3,716	$	3,125
Comparable operating earnings
Beverage packaging, North and Central America	$	174	$	140
Beverage packaging, EMEA		100		100
Beverage packaging, South America		78		93
Aerospace		43		35
Reportable segment comparable operating earnings		395		368
Reconciling items
Other (a)		(29)		(23)
Business consolidation and other activities		281		(7)
Amortization of acquired intangibles		(37)		(38)
Earnings before interest and taxes		610		300
Interest expense		(69)		(67)
Earnings before taxes	$	541	$	233

(a) Includes undistributed corporate expenses, net, of $33 million and $26 million for the three months ended March 31, 2022 and 2021, respectively.

The company does not disclose total assets by segment as such information is not provided to the chief operating decision maker.