Exhibit 20
Subsidiary Guarantees of Debt
The company’s notes payable and senior credit facilities are guaranteed on a full, unconditional and joint and several basis by certain of the company’s wholly owned domestic subsidiaries. The senior credit facilities are secured by: (1) a pledge of 100 percent of the stock owned by the company in its material direct and indirect majority-owned domestic subsidiaries and (2) a pledge of the company’s stock, owned directly or indirectly, of certain foreign subsidiaries, which equals 65 percent of the stock of each foreign subsidiary.
The following is unaudited condensed, consolidating financial information for the company, segregating the guarantor subsidiaries and non-guarantor subsidiaries, as of September 30, 2007, and December 31, 2006, and for the three months and nine months ended September 30, 2007, and October 1, 2006. Certain prior year amounts have been reclassified in order to conform to the current year presentation. Prior year amounts have also been retrospectively adjusted to reflect the company’s fourth quarter 2006 change in accounting for certain inventories from last-in, first-out (LIFO) to first-in, first-out (FIFO) (as discussed in Note 7 to the company’s consolidated financial statements). Separate financial statements for the guarantor subsidiaries and the non-guarantor subsidiaries are not presented because management has determined that such financial statements would not be material to investors.
| | | UNAUDITED CONDENSED, CONSOLIDATING STATEMENT OF EARNINGS | |
| | | For the Three Months Ended September 30, 2007 | |
| | | Ball | | | Guarantor | | | Non-Guarantor | | | Eliminating | | | Consolidated | |
($ in millions) | | Corporation | | | Subsidiaries | | | Subsidiaries | | | Adjustments | | | Total | |
| | | | | | | | | | | | | | | | |
| Net sales | | $ | - | | | $ | 1,451.5 | | | $ | 576.2 | | | $ | (35.6 | ) | | $ | 1,992.1 | |
| Legal settlement | | | – | | | | (85.6 | ) | | | – | | | | – | | | | (85.6 | ) |
| Total net sales | | | – | | | | 1,365.9 | | | | 576.2 | | | | (35.6 | ) | | | 1,906.5 | |
| | | | | | | | | | | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | |
| Cost of sales (excluding depreciation and amortization) | | | - | | | | 1,251.0 | | | | 444.1 | | | | (35.6 | ) | | | 1,659.5 | |
| Depreciation and amortization | | | 1.0 | | | | 44.8 | | | | 26.0 | | | | - | | | | 71.8 | |
| Selling, general and administrative | | | 25.9 | | | | 38.1 | | | | 20.3 | | | | - | | | | 84.3 | |
| Equity in results of subsidiaries | | | (56.2 | ) | | | – | | | | – | | | | 56.2 | | | | - | |
| Intercompany license fees | | | (20.2 | ) | | | 19.7 | | | | 0.5 | | | | - | | | | - | |
| | | | (49.5 | ) | | | 1,353.6 | | | | 490.9 | | | | 20.6 | | | | 1,815.6 | |
| | | | | | | | | | | | | | | | | | | | | |
| Earnings (loss) before interest and taxes | | | 49.5 | | | | 12.3 | | | | 85.3 | | | | (56.2 | ) | | | 90.9 | |
| Interest expense | | | (8.2 | ) | | | (12.6 | ) | | | (15.4 | ) | | | - | | | | (36.2 | ) |
| Earnings (loss) before taxes | | | 41.3 | | | | (0.3 | ) | | | 69.9 | | | | (56.2 | ) | | | 54.7 | |
| Tax provision | | | 19.6 | | | | (4.7 | ) | | | (11.8 | ) | | | - | | | | 3.1 | |
| Minority interests | | | - | | | | - | | | | (0.1 | ) | | | - | | | | (0.1 | ) |
| Equity in results of affiliates | | | - | | | | 0.8 | | | | 2.4 | | | | - | | | | 3.2 | |
| Net earnings (loss) | | $ | 60.9 | | | $ | (4.2 | ) | | $ | 60.4 | | | $ | (56.2 | ) | | $ | 60.9 | |
| | | UNAUDITED CONDENSED, CONSOLIDATING STATEMENT OF EARNINGS | |
| | | For the Three Months Ended October 1, 2006 | |
| | | Ball | | | Guarantor | | | Non-Guarantor | | | Eliminating | | | Consolidated | |
($ in millions) | | Corporation | | | Subsidiaries | | | Subsidiaries | | | Adjustments | | | Total | |
| | | | | | | | | | | | | | | | |
| Net sales | | $ | - | | | $ | 1,379.6 | | | $ | 489.8 | | | $ | (47.1 | ) | | $ | 1,822.3 | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | |
| Cost of sales (excluding depreciation and amortization) | | | - | | | | 1,181.4 | | | | 382.4 | | | | (47.1 | ) | | | 1,516.7 | |
| Depreciation and amortization | | | 0.9 | | | | 40.7 | | | | 22.9 | | | | - | | | | 64.5 | |
| Property insurance gain | | | − | | | | − | | | | (2.8 | ) | | | − | | | | (2.8 | ) |
| Selling, general and administrative | | | 3.4 | | | | 47.9 | | | | 15.2 | | | | - | | | | 66.5 | |
| Equity in results of subsidiaries | | | (103.7 | ) | | | – | | | | – | | | | 103.7 | | | | - | |
| Intercompany license fees | | | (18.0 | ) | | | | | | | 0.3 | | | | – | | | | – | |
| | | | (117.4 | ) | | | 1,287.7 | | | | 418.0 | | | | 56.6 | | | | 1,644.9 | |
| | | | | | | | | | | | | | | | | | | | | |
| Earnings (loss) before interest and taxes | | | 117.4 | | | | 91.9 | | | | 71.8 | | | | (103.7 | ) | | | 177.4 | |
| Interest expense | | | (6.1 | ) | | | (16.2 | ) | | | (14.9 | ) | | | - | | | | (37.2 | ) |
| Earnings (loss) before taxes | | | 111.3 | | | | 75.7 | | | | 56.9 | | | | (103.7 | ) | | | 140.2 | |
| Tax provision | | | (4.2 | ) | | | (15.4 | ) | | | (17.0 | ) | | | - | | | | (36.6 | ) |
| Minority interests | | | - | | | | - | | | | (0.1 | ) | | | - | | | | (0.1 | ) |
| Equity in results of affiliates | | | - | | | | 1.3 | | | | 2.3 | | | | - | | | | 3.6 | |
| Net earnings (loss) | | $ | 107.1 | | | $ | 61.6 | | | $ | 42.1 | | | $ | (103.7 | ) | | $ | 107.1 | |
| | | UNAUDITED CONDENSED, CONSOLIDATING STATEMENT OF EARNINGS | |
| | | For the Nine Months Ended September 30, 2007 | |
| | | Ball | | | Guarantor | | | Non-Guarantor | | | Eliminating | | | Consolidated | |
($ in millions) | | Corporation | | | Subsidiaries | | | Subsidiaries | | | Adjustments | | | Total | |
| | | | | | | | | | | | | | | | |
| Net sales | | $ | - | | | $ | 4,219.9 | | | $ | 1,604.0 | | | $ | (104.8 | ) | | $ | 5,719.1 | |
| Legal settlement | | | – | | | | (85.6 | ) | | | – | | | | – | | | | (85.6 | ) |
| Total net sales | | | – | | | | 4,134.3 | | | | 1,604.0 | | | | (104.8 | ) | | | 5,633.5 | |
| | | | | | | | | | | | | | | | | | | | | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | |
| Cost of sales (excluding depreciation and amortization) | | | - | | | | 3,612.3 | | | | 1,228.9 | | | | (104.8 | ) | | | 4,736.4 | |
| Depreciation and amortization | | | 2.6 | | | | 132.0 | | | | 72.1 | | | | - | | | | 206.7 | |
| Selling, general and administrative | | | 59.5 | | | | 126.4 | | | | 67.9 | | | | - | | | | 253.8 | |
| Equity in results of subsidiaries | | | (255.8 | ) | | | – | | | | – | | | | 255.8 | | | | - | |
Intercompany license fees | | | (54.8 | ) | | | 53.6 | | | | 1.2 | | | | | | | | - | |
| | | | (248.5 | ) | | | 3,924.3 | | | | 1,370.1 | | | | 151.0 | | | | 5,196.9 | |
| | | | | | | | | | | | | | | | | | | | | |
| Earnings (loss) before interest and taxes | | | 248.5 | | | | 210.0 | | | | 233.9 | | | | (255.8 | ) | | | 436.6 | |
| Interest expense | | | (25.7 | ) | | | (41.0 | ) | | | (45.5 | ) | | | - | | | | (112.2 | ) |
| Earnings (loss) before taxes | | | 222.8 | | | | 169.0 | | | | 188.4 | | | | (255.8 | ) | | | 324.4 | |
| Tax provision | | | 25.2 | | | | (60.8 | ) | | | (50.3 | ) | | | – | | | | (85.9 | ) |
| Minority interests | | | - | | | | - | | | | (0.3 | ) | | | - | | | | (0.3 | ) |
| Equity in results of affiliates | | | - | | | | 2.4 | | | | 7.4 | | | | - | | | | 9.8 | |
| Net earnings (loss) | | $ | 248.0 | | | $ | 110.6 | | | $ | 145.2 | | | $ | (255.8 | ) | | $ | 248.0 | |
| | | UNAUDITED CONDENSED, CONSOLIDATING STATEMENT OF EARNINGS | |
| | | For the Nine Months Ended October 1, 2006 | |
| | | Ball | | | Guarantor | | | Non-Guarantor | | | Eliminating | | | Consolidated | |
($ in millions) | | Corporation | | | Subsidiaries | | | Subsidiaries | | | Adjustments | | | Total | |
| | | | | | | | | | | | | | | | |
| Net sales | | $ | - | | | $ | 3,835.2 | | | $ | 1,335.2 | | | $ | (140.7 | ) | | $ | 5,029.7 | |
| Costs and expenses | | | | | | | | | | | | | | | | | | | | |
| Cost of sales (excluding depreciation and amortization) | | | - | | | | 3,325.7 | | | | 1,043.2 | | | | (140.7 | ) | | | 4,228.2 | |
| Depreciation and amortization | | | 2.5 | | | | 116.6 | | | | 64.9 | | | | - | | | | 184.0 | |
| Property insurance gain | | | − | | | | − | | | | (76.9 | ) | | | − | | | | (76.9 | ) |
| Business consolidation costs | | | – | | | | – | | | | 1.7 | | | | – | | | | 1.7 | |
| Selling, general and administrative | | | 45.5 | | | | 109.3 | | | | 55.5 | | | | - | | | | 210.3 | |
| Equity in results of subsidiaries | | | (296.1 | ) | | | – | | | | – | | | | 296.1 | | | | - | |
| Intercompany license fees | | | (50.5 | ) | | | 47.7 | | | | 2.8 | | | | – | | | | – | |
| | | | (298.6 | ) | | | 3,599.3 | | | | 1,091.2 | | | | 155.4 | | | | 4,547.3 | |
| | | | | | | | | | | | | | | | | | | | | |
| Earnings (loss) before interest and taxes | | | 298.6 | | | | 235.9 | | | | 244.0 | | | | (296.1 | ) | | | 482.4 | |
| Interest expense | | | (21.3 | ) | | | (38.3 | ) | | | (38.5 | ) | | | - | | | | (98.1 | ) |
| Earnings (loss) before taxes | | | 277.3 | | | | 197.6 | | | | 205.5 | | | | (296.1 | ) | | | 384.3 | |
| Tax provision | | | 4.0 | | | | (54.4 | ) | | | (63.8 | ) | | | - | | | | (114.2 | ) |
| Minority interests | | | - | | | | - | | | | (0.5 | ) | | | - | | | | (0.5 | ) |
| Equity in results of affiliates | | | - | | | | 3.7 | | | | 8.0 | | | | - | | | | 11.7 | |
| Net earnings (loss) | | $ | 281.3 | | | $ | 146.9 | | | $ | 149.2 | | | $ | (296.1 | ) | | $ | 281.3 | |
| | | UNAUDITED CONDENSED, CONSOLIDATING BALANCE SHEET | |
| | | September 30, 2007 | |
($ in millions) | | Ball | | | Guarantor | | | Non-Guarantor | | | Eliminating | | | Consolidated | |
| | | Corporation | | | Subsidiaries | | | Subsidiaries | | | Adjustments | | | Total | |
| ASSETS | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 6.0 | | | $ | 2.9 | | | $ | 70.5 | | | $ | – | | | $ | 79.4 | |
| Receivables, net | | | 0.9 | | | | 200.5 | | | | 651.4 | | | | – | | | | 852.8 | |
| Inventories, net | | | - | | | | 622.5 | | | | 245.1 | | | | - | | | | 867.6 | |
| Deferred taxes, prepaid expenses and other | | | 18.1 | | | | 30.8 | | | | 31.2 | | | | – | | | | 80.1 | |
| Total current assets | | | 25.0 | | | | 856.7 | | | | 998.2 | | | | – | | | | 1,879.9 | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment, net | | | 26.9 | | | | 1,051.7 | | | | 862.4 | | | | – | | | | 1,941.0 | |
| Investment in subsidiaries | | | 2,160.3 | | | | 444.5 | | | | 81.0 | | | | (2,685.8 | ) | | | – | |
| Goodwill | | | − | | | | 740.9 | | | | 1,096.9 | | | | - | | | | 1,837.8 | |
| Intangibles and other assets, net | | | 95.5 | | | | 145.7 | | | | 115.5 | | | | - | | | | 356.7 | |
| Total assets | | $ | 2,307.7 | | | $ | 3,239.5 | | | $ | 3,154.0 | | | $ | (2,685.8 | ) | | $ | 6,015.4 | |
| | | | | | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Short-term debt and current portion of long-term debt | | $ | 58.6 | | | $ | 2.8 | | | $ | 108.0 | | | $ | - | | | $ | 169.4 | |
| Accounts payable | | | 50.5 | | | | 400.0 | | | | 287.0 | | | | – | | | | 737.5 | |
| Accrued employee costs | | | 13.5 | | | | 136.6 | | | | 66.2 | | | | - | | | | 216.3 | |
| Income taxes payable | | | 2.1 | | | | – | | | | 33.1 | | | | – | | | | 35.2 | |
| Other current liabilities | | | 37.0 | | | | 161.5 | | | | 67.9 | | | | – | | | | 266.4 | |
| Total current liabilities | | | 161.7 | | | | 700.9 | | | | 562.2 | | | | – | | | | 1,424.8 | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | | 1,460.9 | | | | 9.7 | | | | 758.3 | | | | – | | | | 2,228.9 | |
| Intercompany borrowings | | | (804.0 | ) | | | 507.2 | | | | 296.8 | | | | – | | | | - | |
| Employee benefit obligations | | | 162.4 | | | | 273.9 | | | | 421.5 | | | | – | | | | 857.8 | |
| Deferred taxes and other liabilities | | | (30.6 | ) | | | 57.0 | | | | 118.9 | | | | – | | | | 145.3 | |
| Total liabilities | | | 950.4 | | | | 1,548.7 | | | | 2,157.7 | | | | – | | | | 4,656.8 | |
| | | | | | | | | | | | | | | | | | | | | |
| Minority interests | | | - | | | | - | | | | 1.3 | | | | - | | | | 1.3 | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Common stock | | | 752.1 | | | | 819.7 | | | | 675.5 | | | | (1,495.2 | ) | | | 752.1 | |
| Retained earnings | | | 1,741.0 | | | | 974.2 | | | | 217.6 | | | | (1,191.8 | ) | | | 1,741.0 | |
| Accumulated other comprehensive earnings (loss) | | | 32.1 | | | | (103.1 | ) | | | 101.9 | | | | 1.2 | | | | 32.1 | |
| Treasury stock, at cost | | | (1,167.9 | ) | | | - | | | | - | | | | - | | | | (1,167.9 | ) |
| Total shareholders’ equity | | | 1,357.3 | | | | 1,690.8 | | | | 995.0 | | | | (2,685.8 | ) | | | 1,357.3 | |
Total liabilities and shareholders’ equity | | $ | 2,307.7 | | | $ | 3,239.5 | | | $ | 3,154.0 | | | $ | (2,685.8 | ) | | $ | 6,015.4 | |
| | | UNAUDITED CONDENSED, CONSOLIDATING BALANCE SHEET | |
| | | December 31, 2006 | |
($ in millions) | | Ball | | | Guarantor | | | Non-Guarantor | | | Eliminating | | | Consolidated | |
| | | Corporation | | | Subsidiaries | | | Subsidiaries | | | Adjustments | | | Total | |
| ASSETS | | | | | | | | | | | | | | | |
| Current assets | | | | | | | | | | | | | | | |
| Cash and cash equivalents | | $ | 110.3 | | | $ | 2.3 | | | $ | 38.9 | | | $ | – | | | $ | 151.5 | |
| Receivables, net | | | (0.3 | ) | | | 238.3 | | | | 341.5 | | | | – | | | | 579.5 | |
| Inventories, net | | | - | | | | 671.2 | | | | 264.2 | | | | - | | | | 935.4 | |
| Deferred taxes, prepaid expenses and other | | | 15.8 | | | | 36.3 | | | | 42.8 | | | | – | | | | 94.9 | |
| Total current assets | | | 125.8 | | | | 948.1 | | | | 687.4 | | | | – | | | | 1,761.3 | |
| | | | | | | | | | | | | | | | | | | | | |
| Property, plant and equipment, net | | | 27.2 | | | | 1,093.2 | | | | 755.6 | | | | – | | | | 1,876.0 | |
| Investment in subsidiaries | | | 1,855.2 | | | | 438.3 | | | | 81.1 | | | | (2,374.6 | ) | | | – | |
| Goodwill | | | – | | | | 754.4 | | | | 1,019.3 | | | | - | | | | 1,773.7 | |
| Intangibles and other assets, net | | | 102.4 | | | | 141.2 | | | | 186.3 | | | | - | | | | 429.9 | |
| Total assests | | $ | 2,110.6 | | | $ | 3,375.2 | | | $ | 2,729.7 | | | $ | (2,374.6 | ) | | $ | 5,840.9 | |
| | | | | | | | | | | | | | | | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | | | | | | | | | | | | | | | | | | |
| Current liabilities | | | | | | | | | | | | | | | | | | | | |
| Short-term debt and current portion of long-term debt | | $ | 12.5 | | | $ | 11.2 | | | $ | 157.6 | | | $ | - | | | $ | 181.3 | |
| Accounts payable | | | 98.3 | | | | 404.1 | | | | 230.0 | | | | – | | | | 732.4 | |
| Accrued employee costs | | | 9.5 | | | | 137.1 | | | | 54.5 | | | | - | | | | 201.1 | |
| Income taxes payable | | | 19.2 | | | | – | | | | 52.6 | | | | – | | | | 71.8 | |
| Other current liabilities | | | 79.1 | | | | 91.2 | | | | 97.4 | | | | – | | | | 267.7 | |
| Total current liabilities | | | 218.6 | | | | 643.6 | | | | 592.1 | | | | – | | | | 1,454.3 | |
| | | | | | | | | | | | | | | | | | | | | |
| Long-term debt | | | 1,498.9 | | | | 13.6 | | | | 757.9 | | | | – | | | | 2,270.4 | |
| Intercompany borrowings | | | (1,069.6 | ) | | | 1,012.7 | | | | 56.9 | | | | – | | | | - | |
| Employee benefit obligations | | | 173.9 | | | | 272.8 | | | | 401.0 | | | | – | | | | 847.7 | |
| Deferred taxes and other liabilities | | | 123.4 | | | | (121.8 | ) | | | 100.5 | | | | – | | | | 102.1 | |
| Total liabilities | | | 945.2 | | | | 1,820.9 | | | | 1,908.4 | | | | – | | | | 4,674.5 | |
| | | | | | | | | | | | | | | | | | | | | |
| Minority interests | | | - | | | | - | | | | 1.0 | | | | - | | | | 1.0 | |
| Shareholders’ equity | | | | | | | | | | | | | | | | | | | | |
| Convertible preferred stock | | | - | | | | - | | | | 179.6 | | | | (179.6 | ) | | | - | |
| Preferred shareholders’ equity | | | - | | | | - | | | | 179.6 | | | | (179.6 | ) | | | - | |
| | | | | | | | | | | | | | | | | | | | | |
| Common stock | | | 703.4 | | | | 819.7 | | | | 495.4 | | | | (1,315.1 | ) | | | 703.4 | |
| Retained earnings | | | 1,535.3 | | | | 861.0 | | | | 48.6 | | | | (909.6 | ) | | | 1,535.3 | |
| Accumulated other comprehensive earnings (loss) | | | (29.5 | ) | | | (126.4 | ) | | | 96.7 | | | | 29.7 | | | | (29.5 | ) |
| Treasury stock, at cost | | | (1,043.8 | ) | | | - | | | | - | | | | - | | | | (1,043.8 | ) |
| Common shareholders’ equity | | | 1,165.4 | | | | 1,554.3 | | | | 640.7 | | | | (2,195.0 | ) | | | 1,165.4 | |
| Total shareholders’ equity | | | 1,165.4 | | | | 1,554.3 | | | | 820.3 | | | | (2,374.6 | ) | | | 1,165.4 | |
Total liabilities and shareholders’ equity | | $ | 2,110.6 | | | $ | 3,375.2 | | | $ | 2,729.7 | | | $ | (2,374.6 | ) | | $ | 5,840.9 | |
| | | UNAUDITED CONDENSED, CONSOLIDATING STATEMENT OF CASH FLOWS | |
| | | For the Nine Months Ended September 30, 2007 | |
| | | Ball | | | Guarantor | | | Non-Guarantor | | | Eliminating | | | Consolidated | |
($ in millions) | | Corporation | | | Subsidiaries | | | Subsidiaries | | | Adjustments | | | Total | |
| | | | | | | | | | | | | | | | |
| Cash flows from operating activities | | | | | | | | | | | | | | | |
| Net earnings (loss) | | $ | 248.0 | | | $ | 110.6 | | | $ | 145.2 | | | $ | (255.8 | ) | | $ | 248.0 | |
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: | | | | | | | | | | | | | | | | | | | | |
| Depreciation and amortization | | | 2.6 | | | | 131.9 | | | | 72.2 | | | | - | | | | 206.7 | |
| Legal settlement | | | – | | | | 85.6 | | | | – | | | | – | | | | 85.6 | |
| Deferred taxes | | | (6.9 | ) | | | 27.6 | | | | (28.4 | ) | | | - | | | | (7.7 | ) |
| Equity in results of subsidiaries | | | (255.8 | ) | | | – | | | | – | | | | 255.8 | | | | – | |
| Other, net | | | 11.4 | | | | 2.8 | | | | 12.9 | | | | - | | | | 27.1 | |
| Changes in working capital components, excluding effects of acquisitions | | | (49.5 | ) | | | 107.1 | | | | (212.1 | ) | | | - | | | | (154.5 | ) |
| Cash provided by (used in) operating activities | | | (50.2 | ) | | | 465.6 | | | | (10.2 | ) | | | - | | | | 405.2 | |
| | | | | | | | | | | | | | | | | | | | | |
| Cash flows from investing activities | | | | | | | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | | (3.1 | ) | | | (90.9 | ) | | | (128.9 | ) | | | - | | | | (222.9 | ) |
| Investments in and advances to affiliates, net of dividends | | | 126.3 | | | | (362.7 | ) | | | 236.4 | | | | - | | | | – | |
| Property insurance proceeds | | | − | | | | − | | | | 48.6 | | | | − | | | | 48.6 | |
| Other, net | | | (8.4 | ) | | | 0.9 | | | | 2.1 | | | | - | | | | (5.4 | ) |
| Cash provided by (used in) investing activities | | | 114.8 | | | | (452.7 | ) | | | 158.2 | | | | - | | | | (179.7 | ) |
| | | | | | | | | | | | | | | | | | | | | |
| Cash flows from financing activities | | | | | | | | | | | | | | | | | | | | |
| Long-term borrowings | | | − | | | | 0.1 | | | | 16.7 | | | | – | | | | 16.8 | |
| Repayments of long-term borrowings | | | (5.0 | ) | | | (12.4 | ) | | | (14.1 | ) | | | - | | | | (31.5 | ) |
| Change in short-term borrowings | | | 13.3 | | | | - | | | | (120.2 | ) | | | - | | | | (106.9 | ) |
| Proceeds from issuance of common stock | | | 38.0 | | | | - | | | | - | | | | - | | | | 38.0 | |
| Acquisitions of treasury stock | | | (193.1 | ) | | | – | | | | - | | | | - | | | | (193.1 | ) |
| Common dividends | | | (30.4 | ) | | | – | | | | – | | | | – | | | | (30.4 | ) |
| Other, net | | | 8.3 | | | | − | | | | – | | | | - | | | | 8.3 | |
| Cash used in financing activities | | | (168.9 | ) | | | (12.3 | ) | | | (117.6 | ) | | | - | | | | (298.8 | ) |
| | | | | | | | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | | – | | | | – | | | | 1.2 | | | | - | | | | 1.2 | |
| | | | | | | | | | | | | | | | | | | | | |
| Change in cash and cash equivalents | | | (104.3 | ) | | | 0.6 | | | | 31.6 | | | | - | | | | (72.1 | ) |
Cash and cash equivalents – beginning of period | | | 110.3 | | | | 2.3 | | | | 38.9 | | | | - | | | | 151.5 | |
| Cash and cash equivalents – end of period | | $ | 6.0 | | | $ | 2.9 | | | $ | 70.5 | | | $ | - | | | $ | 79.4 | |
| | | UNAUDITED CONDENSED, CONSOLIDATING STATEMENT OF CASH FLOWS | |
| | | For the Nine Months Ended October 1, 2006 | |
| | | Ball | | | Guarantor | | | Non-Guarantor | | | Eliminating | | | Consolidated | |
($ in millions) | | Corporation | | | Subsidiaries | | | Subsidiaries | | | Adjustments | | | Total | |
| | | | | | | | | | | | | | | | |
| Cash flows from operating activities | | | | | | | | | | | | | | | |
| Net earnings (loss) | | $ | 281.3 | | | $ | 146.9 | | | $ | 149.2 | | | $ | (296.1 | ) | | $ | 281.3 | |
| Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: | | | | | | | | | | | | | | | | | | | | |
| Depreciation and amortization | | | 2.5 | | | | 116.6 | | | | 64.9 | | | | - | | | | 184.0 | |
| Property insurance gain | | | − | | | | − | | | | (76.9 | ) | | | − | | | | (76.9 | ) |
| Business consolidation costs | | | – | | | | – | | | | 1.7 | | | | – | | | | 1.7 | |
| Deferred taxes | | | (3.1 | ) | | | 6.3 | | | | 24.5 | | | | - | | | | 27.7 | |
| Equity in results of subsidiaries | | | (296.1 | ) | | | – | | | | – | | | | 296.1 | | | | – | |
| Other, net | | | 17.2 | | | | (35.0 | ) | | | (23.2 | ) | | | - | | | | (41.0 | ) |
| Changes in working capital components, excluding effects of acquisitions | | | (24.0 | ) | | | (21.7 | ) | | | (215.0 | ) | | | - | | | | (260.7 | ) |
| Cash provided by (used in) operating activities | | | (22.2 | ) | | | 213.1 | | | | (74.8 | ) | | | - | | | | 116.1 | |
| | | | | | | | | | | | | | | | | | | | | |
| Cash flows from investing activities | | | | | | | | | | | | | | | | | | | | |
| Additions to property, plant and equipment | | | (2.2 | ) | | | (143.3 | ) | | | (42.1 | ) | | | - | | | | (187.6 | ) |
| Business acquisitions, net of cash acquired | | | – | | | | (730.8 | ) | | | (55.6 | ) | | | – | | | | (786.4 | ) |
| Investments in and advances to affiliates, net of dividends | | | (889.6 | ) | | | 667.6 | | | | 222.0 | | | | - | | | | – | |
| Property insurance proceeds | | | − | | | | − | | | | 32.4 | | | | − | | | | 32.4 | |
| Other, net | | | (3.5 | ) | | | 6.2 | | | | 7.0 | | | | - | | | | 9.7 | |
| Cash provided by (used in) investing activities | | | (895.3 | ) | | | (200.3 | ) | | | 163.7 | | | | - | | | | (931.9 | ) |
| | | | | | | | | | | | | | | | | | | | | |
| Cash flows from financing activities | | | | | | | | | | | | | | | | | | | | |
| Long-term borrowings | | | 984.1 | | | | – | | | | − | | | | – | | | | 984.1 | |
| Repayments of long-term borrowings | | | – | | | | (3.0 | ) | | | (97.9 | ) | | | - | | | | (100.9 | ) |
| Change in short-term borrowings | | | 2.3 | | | | - | | | | 4.7 | | | | - | | | | 7.0 | |
| Proceeds from issuance of common stock | | | 27.9 | | | | - | | | | - | | | | - | | | | 27.9 | |
| Acquisitions of treasury stock | | | (72.6 | ) | | | – | | | | - | | | | - | | | | (72.6 | ) |
| Common dividends | | | (30.7 | ) | | | – | | | | – | | | | – | | | | (30.7 | ) |
| Other, net | | | 5.9 | | | | (8.0 | ) | | | – | | | | - | | | | (2.1 | ) |
| Cash provided by (used in) financing activities | | | 916.9 | | | | (11.0 | ) | | | (93.2 | ) | | | - | | | | 812.7 | |
| | | | | | | | | | | | | | | | | | | | | |
| Effect of exchange rate changes on cash | | | – | | | | – | | | | 1.2 | | | | - | | | | 1.2 | |
| | | | | | | | | | | | | | | | | | | | | |
| Change in cash and cash equivalents | | | (0.6 | ) | | | 1.8 | | | | (3.1 | ) | | | - | | | | (1.9 | ) |
Cash and cash equivalents – beginning of period | | | 8.0 | | | | 1.7 | | | | 51.3 | | | | - | | | | 61.0 | |
| Cash and cash equivalents – end of period | | $ | 7.4 | | | $ | 3.5 | | | $ | 48.2 | | | $ | - | | | $ | 59.1 | |
