XML 21 R9.htm IDEA: XBRL DOCUMENT v3.22.2
Business Segment Information
6 Months Ended
Jun. 30, 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 the first quarter of 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 June 30,

​

Six Months Ended June 30,

($ in millions)

    

2022

    

2021

    

2022

    

2021

​

​

​

​

​

​

​

​

​

​

​

​

​

Net sales

​

​

​

​

​

​

​

​

​

​

​

​

Beverage packaging, North and Central America

​

$

1,775

​

$

1,524

​

$

3,384

​

$

2,820

Beverage packaging, EMEA

​

​

1,133

​

​

906

​

​

2,075

​

​

1,702

Beverage packaging, South America

​

​

534

​

​

452

​

​

1,028

​

​

939

Aerospace

​

​

490

​

​

459

​

​

994

​

​

883

Reportable segment sales

​

​

3,932

​

​

3,341

​

​

7,481

​

​

6,344

Other

​

​

202

​

​

118

​

​

369

​

​

240

Net sales

​

$

4,134

​

$

3,459

​

$

7,850

​

$

6,584

​

​

​

​

​

​

​

​

​

​

​

​

​

Comparable operating earnings

​

​

​

​

​

​

​

​

​

​

​

​

Beverage packaging, North and Central America

​

$

164

​

$

193

​

$

338

​

$

333

Beverage packaging, EMEA

​

​

129

​

​

124

​

​

229

​

​

224

Beverage packaging, South America

​

​

52

​

​

78

​

​

130

​

​

171

Aerospace

​

​

36

​

​

34

​

​

79

​

​

69

Reportable segment comparable operating earnings

​

​

381

​

​

429

​

​

776

​

​

797

Reconciling items

​

​

​

​

​

​

​

​

​

​

​

​

Other (a)

​

​

11

​

​

(30)

​

​

(18)

​

​

(53)

Business consolidation and other activities

​

​

(467)

​

​

12

​

​

(186)

​

​

5

Amortization of acquired intangibles

​

​

(32)

​

​

(38)

​

​

(69)

​

​

(76)

Earnings (loss) before interest and taxes

​

​

(107)

​

​

373

​

​

503

​

​

673

Interest expense

​

​

(68)

​

​

(66)

​

​

(137)

​

​

(133)

Debt refinancing and other costs

​

​

(2)

​

​

—

​

​

(2)

​

​

—

Total interest expense

​

​

(70)

​

​

(66)

​

​

(139)

​

​

(133)

Earnings (loss) before taxes

​

$

(177)

​

$

307

​

$

364

​

$

540

(a)Includes undistributed corporate expenses, net, of $15 million and $28 million for the three months ended June 30, 2022 and 2021, respectively, and $48 million and $54 million for the six months ended June 30, 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.