Business Consolidation and Other Activities

6 Months Ended

Jun. 30, 2022

Business Consolidation and Other Activities

Business Consolidation and Other Activities

6.     Business Consolidation and Other Activities

The following is a summary of business consolidation and other activity (charges)/income included in the unaudited condensed consolidated statements of earnings (loss):

	Three Months Ended June 30,				Six Months Ended June 30,
($ in millions)	2022		2021		2022		2021
Beverage packaging, North and Central America	$	(2)	$	(2)	$	(1)	$	(1)
Beverage packaging, EMEA		(438)		(1)		(439)		(3)
Beverage packaging, South America		(21)		21		(22)		20
Other		(6)		(6)		276		(11)
	$	(467)	$	12	$	(186)	$	5

2022

Beverage Packaging, North and Central America

During the three and six months ended June 30, 2022, the company recorded charges of $2 million and $1 million, respectively, for individually insignificant activities.

Beverage Packaging, EMEA

During the three and six months ended June 30, 2022, the company recorded charges of $435 million associated with impairment losses on Russia’s long-lived asset group. See Note 1 for further details. Additional charges in the three and six months ended June 30, 2022, were $3 million and $4 million, respectively, for individually insignificant activities.

Beverage Packaging, South America

During the three and six months ended June 30, 2022, Ball recorded charges of $22 million related to an increased risk of not being able to fully collect amounts due from a regional customer in Brazil. See Note 21 for further details. Additional charges in the three months ended June 30, 2022, were $1 million for individually insignificant activities.

Other

During the three months ended June 30, 2022, the company recorded the following amounts:

● Charges of $7 million associated with the reduction of sales price due to customary closing adjustments related to the sale of Ball’s remaining equity method investment in Ball Metalpack. See Note 4 for further details.

● Net gains of $4 million associated with Ball’s inability to hedge Russian ruble currency exposures.

● Charges of $3 million for individually insignificant activities.

During the six months ended June 30, 2022, the company recorded the following amounts:

● A gain of $298 million related to the sale of Ball’s remaining equity method investment in Ball Metalpack. See Note 4 for further details.

● A charge related to a donation of $30 million to The Ball Foundation, a non-profit philanthropic organization with efforts to build a better world.

● A gain of $16 million from Ball Metalpack’s repayment of a loan which was formerly fully reserved.

● Net charges of $5 million associated with Ball’s inability to hedge Russian ruble currency exposures.

● Charges of $3 million for individually insignificant activities.

2021

Beverage Packaging, North and Central America

During the three and six months ended June 30, 2021, the company recorded net charges of $2 million and $1 million, respectively, for individually insignificant activities.

Beverage Packaging, EMEA

During the three and six months ended June 30, 2021, the company recorded charges of $1 million and $3 million, respectively, for individually insignificant activities in connection with previously announced plant closures, restructuring and other activities.

Beverage Packaging, South America

During the three and six months ended June 30, 2021, the company recorded a $22 million gain related to indirect tax gain contingencies in Brazil as these amounts became estimable and realizable. The company’s Brazilian subsidiaries filed lawsuits in 2014 and 2015 to challenge the Brazilian tax authorities regarding the computation of certain indirect taxes, claiming amounts were overpaid to the tax authorities because the tax base included a “tax on tax” component. See Note 21 for further details. Additional charges in the three and six months ended June 30, 2021, were $1 million and $2 million, respectively, for individually insignificant activities.

Other

During the three and six months ended June 30, 2021, the company recorded an impairment charge of $5 million related to the sale of its minority-owned investment in South Korea. See Note 4 for further details. Additional charges in the three and six months ended June 30, 2021, included $1 million and $6 million, respectively, for individually insignificant activities.