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Equity and Accumulated Other Comprehensive Earnings (Loss)
3 Months Ended
Mar. 31, 2024
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, inclusive of activity related to the aerospace business impacting the company’s equity:

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, 2023

683,241

$

1,312

(367,551)

$

(4,390)

$

7,763

$

(916)

$

68

$

3,837

Net earnings

3,685

1

3,686

Other comprehensive earnings (loss), net of tax

23

23

Common dividends

(63)

(63)

Treasury stock purchases

(3,065)

(196)

(196)

Treasury shares reissued

72

7

7

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

319

40

40

Distributions from deferred compensation plans and other activity

42

1

43

Balance at March 31, 2024

683,560

$

1,352

(370,544)

$

(4,537)

$

11,386

$

(893)

$

69

$

7,377

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, 2022

682,144

$

1,260

(368,036)

$

(4,429)

$

7,309

$

(679)

$

66

$

3,527

Net earnings

177

3

180

Other comprehensive earnings (loss), net of tax

42

42

Common dividends

(63)

(63)

Treasury stock purchases

(39)

(3)

(3)

Treasury shares reissued

146

8

8

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

272

8

8

Other activity

10

(1)

9

Balance at March 31, 2023

682,416

$

1,268

(367,929)

$

(4,414)

$

7,422

$

(637)

$

69

$

3,708

On April 24, 2024, Ball’s Board of Directors approved the repurchase by the company of up to a total of 40 million shares of its common stock. This repurchase authorization replaced all previous authorizations.

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, 2023

$

(380)

$

(537)

(a)

$

1

$

(916)

Other comprehensive earnings (loss) before reclassifications

(87)

8

31

(48)

Amounts reclassified into earnings

3

(26)

(23)

Aerospace disposal

94

94

Balance at March 31, 2024

$

(467)

$

(432)

$

6

$

(893)

(a) Includes amounts associated with the Salaried Employees of Ball Aerospace & Technologies Corp. Pension Plan.

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

Three Months Ended March 31,

($  in millions)

    

2024

    

2023

Gains (losses) on cash flow hedges:

Commodity contracts recorded in net sales

$

13

$

(13)

Commodity contracts recorded in cost of sales

(14)

Currency exchange contracts recorded in selling, general and administrative

32

(3)

Interest rate contracts recorded in interest expense

3

Total before tax effect

34

(16)

Tax benefit (expense) on amounts reclassified into earnings

(8)

4

Recognized gain (loss), net of tax

$

26

$

(12)

Amortization and disposal of pension and other postretirement benefits: (a)

Actuarial gains (losses) (b)

$

(3)

$

(1)

Prior service income (expense) (b)

(1)

(1)

Aerospace disposal

(127)

Total before tax effect

(131)

(2)

Tax benefit (expense) on amounts reclassified into earnings

34

1

Recognized gain (loss), net of tax

$

(97)

$

(1)

(a)Includes amounts associated with the Salaried Employees of Ball Aerospace & Technologies Corp. Pension Plan
(b)These components are included in the computation of net periodic benefit cost detailed in Note 17.