Employee Benefit Obligations

6 Months Ended

Jun. 30, 2022

Employee Benefit Obligations

Employee Benefit Obligations

17.    Employee Benefit Obligations

	June 30,		December 31,
($ in millions)	2022		2021
Underfunded defined benefit pension liabilities	$	496	$	582
Less: Current portion		(20)		(21)
Long-term defined benefit pension liabilities		476		561
Long-term retiree medical liabilities		130		135
Deferred compensation plans		332		441
Other		35		68
	$	973	$	1,205

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

	Three Months Ended June 30,
	2022						2021
($ in millions)	U.S.		Non-U.S.		Total		U.S.		Non-U.S.		Total
Ball-sponsored plans:
Service cost	$	22	$	2	$	24	$	21	$	3	$	24
Interest cost		14		11		25		13		9		22
Expected return on plan assets		(27)		(15)		(42)		(31)		(16)		(47)
Amortization of prior service cost		1		—		1		1		—		1
Recognized net actuarial loss		7		1		8		11		2		13
Total net periodic benefit cost	$	17	$	(1)	$	16	$	15	$	(2)	$	13

	Six Months Ended June 30,
	2022						2021
($ in millions)	U.S.		Non-U.S.		Total		U.S.		Non-U.S.		Total
Ball-sponsored plans:
Service cost	$	44	$	5	$	49	$	42	$	6	$	48
Interest cost		27		24		51		26		18		44
Expected return on plan assets		(54)		(32)		(86)		(62)		(32)		(94)
Amortization of prior service cost		1		1		2		1		1		2
Recognized net actuarial loss		14		2		16		24		3		27
Total net periodic benefit cost	$	32	$	—	$	32	$	31	$	(4)	$	27

Non-service pension income of $8 million and $11 million for the three months ended June 30, 2022 and 2021, respectively, and income of $17 million and $21 million for the six months ended June 30, 2022 and 2021, respectively, is included in selling, general, and administrative (SG&A) expenses in the unaudited condensed consolidated statement of earnings (loss).

Contributions to the company’s defined benefit pension plans were $108 million for the first six months of 2022 compared to $167 million for the first six months of 2021, and such contributions are expected to be approximately $127 million for the full year of 2022. This estimate may change based on changes to the U.S. Pension Protection Act and the actual returns achieved on plan assets, among other factors.