XML 36 R24.htm IDEA: XBRL DOCUMENT v3.22.2.2
Equity and Accumulated Other Comprehensive Earnings (Loss)
9 Months Ended
Sep. 30, 2022
Equity and Accumulated Other Comprehensive Earnings (Loss)  
Equity and Accumulated Other Comprehensive Earnings (Loss)

18.    Equity and Accumulated Other Comprehensive Earnings (Loss)

​

The following tables provide additional details of the company’s equity activity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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, 2022

​

681,866

​

$

1,232

​

(367,399)

​

$

(4,408)

​

$

6,987

​

$

(346)

​

$

68

​

$

3,533

Net earnings

​

—

​

​

—

​

—

​

​

—

​

​

392

​

​

—

​

​

2

​

​

394

Other comprehensive earnings (loss), net of tax

​

—

​

​

—

​

—

​

​

—

​

​

—

​

​

(392)

​

​

—

​

​

(392)

Currency translation recognized in earnings from the sale of the Russian aluminum beverage packaging business

​

—

​

​

—

​

—

​

​

—

​

​

—

​

​

90

​

​

—

​

​

90

Common dividends, net of tax benefits

​

—

​

​

—

​

—

​

​

—

​

​

(63)

​

​

—

​

​

—

​

​

(63)

Treasury stock purchases

​

—

​

​

—

​

(921)

​

​

(39)

​

​

—

​

​

—

​

​

—

​

​

(39)

Treasury shares reissued

​

—

​

​

—

​

152

​

​

8

​

​

—

​

​

—

​

​

—

​

​

8

Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged

​

158

​

​

15

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

15

Other activity

​

—

​

​

—

​

—

​

​

3

​

​

—

​

​

—

​

​

—

​

​

3

Balance at September 30, 2022

​

682,024

​

$

1,247

​

(368,168)

​

$

(4,436)

​

$

7,316

​

$

(648)

​

$

70

​

$

3,549

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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, 2021

​

680,246

​

$

1,195

​

(353,475)

​

$

(3,255)

​

$

6,496

​

$

(797)

​

$

62

​

$

3,701

Net earnings

​

—

​

​

—

​

—

​

​

—

​

​

179

​

​

—

​

​

—

​

​

179

Other comprehensive earnings (loss), net of tax

​

—

​

​

—

​

—

​

​

—

​

​

—

​

​

144

​

​

—

​

​

144

Common dividends, net of tax benefits

​

—

​

​

—

​

—

​

​

—

​

​

(66)

​

​

—

​

​

—

​

​

(66)

Treasury stock purchases

​

—

​

​

—

​

(2,429)

​

​

(219)

​

​

—

​

​

—

​

​

—

​

​

(219)

Treasury shares reissued

​

—

​

​

—

​

62

​

​

9

​

​

—

​

​

—

​

​

—

​

​

9

Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged

​

421

​

​

14

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

14

Other activity

​

—

​

​

—

​

—

​

​

2

​

​

2

​

​

—

​

​

(1)

​

​

3

Balance at September 30, 2021

​

680,667

​

$

1,209

​

(355,842)

​

$

(3,463)

​

$

6,611

​

$

(653)

​

$

61

​

$

3,765

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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, 2021

​

680,945

​

$

1,220

​

(360,101)

​

$

(3,854)

​

$

6,843

​

$

(582)

​

$

58

​

$

3,685

Net earnings

​

—

​

​

—

​

—

​

​

—

​

​

664

​

​

—

​

​

12

​

​

676

Other comprehensive earnings (loss), net of tax

​

—

​

​

—

​

—

​

​

—

​

​

—

​

​

(156)

​

​

—

​

​

(156)

Currency translation recognized in earnings from the sale of the Russian aluminum beverage packaging business

​

—

​

​

—

​

—

​

​

—

​

​

—

​

​

90

​

​

—

​

​

90

Common dividends

​

—

​

​

—

​

—

​

​

—

​

​

(191)

​

​

—

​

​

—

​

​

(191)

Treasury stock purchases

​

—

​

​

—

​

(8,384)

​

​

(617)

​

​

—

​

​

—

​

​

—

​

​

(617)

Treasury shares reissued

​

—

​

​

—

​

317

​

​

25

​

​

—

​

​

—

​

​

—

​

​

25

Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged

​

1,079

​

​

27

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

27

Other activity

​

—

​

​

—

​

—

​

​

10

​

​

—

​

​

—

​

​

—

​

​

10

Balance at September 30, 2022

​

682,024

​

$

1,247

​

(368,168)

​

$

(4,436)

​

$

7,316

​

$

(648)

​

$

70

​

$

3,549

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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, 2020

​

679,524

​

$

1,167

​

(351,939)

​

$

(3,130)

​

$

6,192

​

$

(954)

​

$

62

​

$

3,337

Net earnings

​

—

​

​

—

​

—

​

​

—

​

​

581

​

​

—

​

​

—

​

​

581

Other comprehensive earnings (loss), net of tax

​

—

​

​

—

​

—

​

​

—

​

​

—

​

​

301

​

​

—

​

​

301

Common dividends

​

—

​

​

—

​

—

​

​

—

​

​

(164)

​

​

—

​

​

—

​

​

(164)

Treasury stock purchases

​

—

​

​

—

​

(4,201)

​

​

(368)

​

​

—

​

​

—

​

​

—

​

​

(368)

Treasury shares reissued

​

—

​

​

—

​

298

​

​

25

​

​

—

​

​

—

​

​

—

​

​

25

Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged

​

1,143

​

​

42

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

42

Other activity

​

—

​

​

—

​

—

​

​

10

​

​

2

​

​

—

​

​

(1)

​

​

11

Balance at September 30, 2021

​

680,667

​

$

1,209

​

(355,842)

​

$

(3,463)

​

$

6,611

​

$

(653)

​

$

61

​

$

3,765

​

In the second quarter of 2022, in a privately negotiated transaction, Ball entered into an accelerated share repurchase agreement to buy $300 million of its common shares using cash on hand and available borrowings. In the third quarter of 2022, Ball settled the agreement and received a total of 4.34 million shares with the average price per share paid of $69.06.

​

Accumulated Other Comprehensive Earnings (Loss)

​

The activity related to accumulated other comprehensive earnings (loss) was as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

($ in millions)

    

​
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, 2021

​

​

(536)

​

​

(169)

​

​

123

​

​

(582)

Other comprehensive earnings (loss) before reclassifications

​

​

141

​

​

(24)

​

​

118

​

​

235

Reclassification of net deferred gains (losses) into earnings

​

​

(90)

​

​

23

​

​

(234)

​

​

(301)

Balance at September 30, 2022

​

$

(485)

​

$

(170)

​

$

7

​

$

(648)

​

The following table provides additional details of the amounts recorded into net earnings from accumulated other comprehensive earnings (loss):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30,

​

Nine Months Ended September 30,

($ in millions)

    

2022

    

2021

    

2022

    

2021

​

​

​

​

​

​

​

​

​

​

​

​

​

Gains (losses) on cash flow hedges:

​

​

​

​

​

​

​

​

​

​

​

​

Commodity contracts recorded in net sales

​

$

105

​

$

(28)

​

$

23

​

$

(89)

Commodity contracts recorded in cost of sales

​

​

(5)

​

​

53

​

​

141

​

​

95

Currency exchange contracts recorded in selling, general and administrative

​

​

59

​

​

27

​

​

136

​

​

66

Interest rate contracts recorded in interest expense

​

​

2

​

​

—

​

​

2

​

​

—

Total before tax effect

​

​

161

​

​

52

​

​

302

​

​

72

Tax benefit (expense) on amounts reclassified into earnings

​

​

(35)

​

​

(9)

​

​

(68)

​

​

(11)

Recognized gain (loss), net of tax

​

$

126

​

$

43

​

$

234

​

$

61

​

​

​

​

​

​

​

​

​

​

​

​

​

Amortization of pension and other postretirement benefits: (a)

​

​

​

​

​

​

​

​

​

​

​

​

Actuarial gains (losses)

​

$

(8)

​

$

(12)

​

$

(24)

​

$

(39)

Prior service income (expense)

​

​

(1)

​

​

(1)

​

​

(3)

​

​

(3)

Effect of settlement losses and other one-time charges

​

​

(3)

​

​

(130)

​

​

(3)

​

​

(130)

Total before tax effect

​

​

(12)

​

​

(143)

​

​

(30)

​

​

(172)

Tax benefit (expense) on amounts reclassified into earnings

​

​

2

​

​

35

​

​

7

​

​

43

Recognized gain (loss), net of tax

​

$

(10)

​

$

(108)

​

$

(23)

​

$

(129)

​

​

​

​

​

​

​

​

​

​

​

​

​

Currency translation recorded in business consolidation and other activities from the sale of the Russian aluminum beverage packaging business

​

$

90

​

$

—

​

$

90

​

$

—

(a)These components are included in the computation of net periodic benefit cost detailed in Note 17.