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SEC Filings

8-K
BALL CORP filed this Form 8-K on 02/07/2018
Entire Document
 


Notes to the Condensed Financial Statements (Fourth Quarter 2017)

1.
Business Segment Information (continued)

 
Three Months Ended
   
Year Ended
 
 
December 31,
   
December 31,
 
($ in millions)
2017
 
2016
 
2017
 
2016
 
                         
Net sales
                       
Beverage packaging, North and Central America
$
 998
 
$
 959
 
$
 4,178
 
$
 3,612
 
Beverage packaging, South America
 
 547
   
 437
   
 1,692
   
 1,014
 
Beverage packaging, Europe
 
 536
   
 456
   
 2,360
   
 1,915
 
Food and aerosol packaging
 
 271
   
 259
   
 1,138
   
 1,171
 
Aerospace
 
 257
   
 241
   
 991
   
 818
 
Reportable segment sales
 
 2,609
   
 2,352
   
 10,359
   
 8,530
 
Other
 
 138
   
 171
   
 624
   
 531
 
Net sales
$
 2,747
 
$
 2,523
 
$
 10,983
 
$
 9,061
 
                         
Comparable operating earnings
                       
Beverage packaging, North and Central America
$
 133
 
$
 114
 
$
 533
 
$
 469
 
Beverage packaging, South America
 
 128
   
 85
   
 333
   
 185
 
Beverage packaging, Europe
 
 49
   
 32
   
 233
   
 217
 
Food and aerosol packaging
 
 26
   
 24
   
 102
   
 109
 
Aerospace
 
 28
   
 26
   
 98
   
 88
 
Reportable segment comparable operating earnings
 
 364
   
 281
   
 1,299
   
 1,068
 
Other (a)
 
 (14)
   
 (23)
   
 (79)
   
 (92)
 
Comparable operating earnings
 
 350
   
 258
   
 1,220
   
 976
 
Reconciling items
                       
Business consolidation and other activities
 
 32
   
 (35)
   
 (221)
   
 (337)
 
Amortization of acquired Rexam intangibles
 
 (42)
   
 (32)
   
 (162)
   
 (65)
 
Catch-up depreciation and amortization for 2016 from finalization of Rexam valuation
 
 (1)
   
   
 (35)
   
 
Cost of sales associated with Rexam inventory step-up
 
   
 (1)
   
   
 (84)
 
Egyptian pound devaluation
 
   
 (27)
   
   
 (27)
 
Earnings before interest and taxes
 
 339
   
 163
   
 802
   
 463
 
Interest expense
 
 (69)
   
 (70)
   
 (285)
   
 (229)
 
Debt refinancing and other costs
 
 (2)
   
 (1)
   
 (3)
   
 (109)
 
Total interest expense
 
 (71)
   
 (71)
   
 (288)
   
 (338)
 
Earnings before taxes
 
 268
   
 92
   
 514
   
 125
 
Tax (provision) benefit
 
 (92)
   
 (49)
   
 (140)
   
 126
 
Equity in results of affiliates
 
 8
   
 9
   
 31
   
 15
 
Net earnings
 
 184
   
 52
   
 405
   
 266
 
Net earnings attributable to noncontrolling interests
 
   
   
 (6)
   
 (3)
 
Net earnings attributable to Ball Corporation
$
 184
 
$
 52
 
$
 399
 
$
 263
 

(a)
Includes undistributed corporate expenses, net, of $22 million and $32 million for the fourth quarter of 2017 and 2016, respectively, and $128 million and $110 million for the year ended 2017 and 2016, respectively.







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