Employee Benefit Obligations

9 Months Ended

Sep. 30, 2023

Employee Benefit Obligations

Employee Benefit Obligations

17.    Employee Benefit Obligations

	September 30,		December 31,
($ in millions)	2023		2022
Underfunded defined benefit pension liabilities	$	424	$	423
Less: Current portion		(21)		(21)
Long-term defined benefit pension liabilities		403		402
Long-term retiree medical liabilities		88		94
Deferred compensation plans		254		286
Other		68		65
	$	813	$	847

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

	Three Months Ended September 30,
	2023						2022
($ in millions)	U.S.		Non-U.S.		Total		U.S.		Non-U.S.		Total
Ball-sponsored plans:
Service cost	$	14	$	1	$	15	$	22	$	3	$	25
Interest cost		21		21		42		13		12		25
Expected return on plan assets		(28)		(26)		(54)		(27)		(15)		(42)
Amortization of prior service cost		—		1		1		—		1		1
Recognized net actuarial loss		—		1		1		7		1		8
Settlement losses and other charges (a)		3		—		3		3		—		3
Total net periodic benefit cost	$	10	$	(2)	$	8	$	18	$	2	$	20

(a) The charges in 2023 and 2022 include plant-related closure charges. These amounts have been recorded in business consolidation and other activities.

	Nine Months Ended September 30,
	2023						2022
($ in millions)	U.S.		Non-U.S.		Total		U.S.		Non-U.S.		Total
Ball-sponsored plans:
Service cost	$	40	$	4	$	44	$	66	$	8	$	74
Interest cost		64		64		128		40		36		76
Expected return on plan assets		(85)		(76)		(161)		(81)		(47)		(128)
Amortization of prior service cost		—		2		2		1		2		3
Recognized net actuarial loss		2		1		3		21		3		24
Settlement losses and other charges (a)		3		—		3		3		—		3
Total net periodic benefit cost	$	24	$	(5)	$	19	$	50	$	2	$	52

(a) The charges in 2023 and 2022 include plant-related closure charges. These amounts have been recorded in business consolidation and other activities.

Non-service pension income of $10 million and $8 million for the three months ended September 30, 2023 and 2022, respectively, and income of $28 million and $25 million for the nine months ended September 30, 2023 and 2022, respectively, is included in selling, general, and administrative (SG&A) expenses in the unaudited condensed consolidated statements of earnings.

Contributions to the company’s defined benefit pension plans were $13 million for the first nine months of 2023 compared to $113 million for the first nine months of 2022, and such contributions are expected to be approximately $33 million for the full year of 2023. This estimate may change based on changes in the Pension Protection Act, actual plan asset performance and available company cash flow, among other factors.